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unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them
“unHeritage is definitely the lighthouse for protecting your family and wealth for generations. This book is a must read for anyone interested in legacy planning.” Enzo Calamo
Center for Family Conversations
The Center for Family Conversations (CFC) is a resource center that provides the integral tools and ideas in helping families establish a 100-year-plus Family Legacy Plan.
THE TYCOON PLAYBOOK – How Business Empires Are Built
The Tycoon Playbook course was created for business families who are already running a successful business and wish to ramp up their growth while preserving wealth for future generations. Specifically, the Playbook teaches high performance business owners the two most highly rewarded skills in business, namely deal-making and how to acquire cash flow producing business assets.
- Oil pares gains after early jump to $63 December 18, 2014LONDON (Reuters) - Brent crude pared early gains on Thursday to trade back below $62 a barrel, giving up much of a 3 percent spike in London as traders assessed whether a price rout is done.
- Two Wells Fargo units to pay $1.5 million for anti-money laundering lapses: FINRA December 18, 2014(Reuters) - Two brokerage units of Wells Fargo & Co must pay a joint $1.5 million fine for failing to comply with anti-money laundering regulations by not verifying 220,000 new accounts during a nine-year period, the Financial Industry Regulatory Authority (FINRA) said on Thursday.
- Brazil Congress' Petrobras probe urges charges against 52 people December 18, 2014RIO DE JANEIRO (Reuters) - A Brazilian congressional investigative committee issued its final report on alleged corruption at state-run oil company Petroleo Brasileiro SA on Thursday with a recommendation that prosecutors file charges against 52 people.
- Wall Street climbs on oil boost in wake of Fed statement December 18, 2014NEW YORK (Reuters) - U.S. stocks rose on Thursday, with each of the major indexes climbing more than 1 percent, building on the prior session's rally after the U.S. Federal Reserve's policy statement and oil prices that showed signs of steadying.
- Ford expands Takata driver-side airbag recall in U.S. December 18, 2014DETROIT (Reuters) - Ford Motor Co on Thursday expanded the recall of older-model Mustang cars, that have driver-side Takata airbags with inflators, to include about 502,500 vehicles.
- Pimco expects global growth to accelerate in 2015 between 2.5-3 percent December 18, 2014NEW YORK (Reuters) - Bond giant Pacific Investment Management Co said on Thursday it expects global growth to accelerate in 2015 to around 2.75 percent from around plus 2.5 percent this year, based...
- WTO upholds some of Chinese complaint against U.S. duties December 18, 2014WASHINGTON (Reuters) - The World Trade Organization on Thursday upheld parts of a Chinese complaint against U.S. duties on goods including solar panels and wind towers and found some U.S....
- ECB to publish accounts of policy meetings from January December 18, 2014FRANKFURT (Reuters) - The European Central Bank said on Thursday it would start publishing accounts of its monetary policy meetings next year, a move that will raise the ECB's transparency but still...
- U.S. leading economic indicator rises in November December 18, 2014WASHINGTON (Reuters) - A gauge of future U.S. economic activity increased solidly in November, pointing to underlying strength in the economy.
- Dollar extends rise after Fed statement, Swiss rate move December 18, 2014NEW YORK (Reuters) - The U.S. dollar rose against major currencies for a second straight session on Thursday after the Federal Reserve signaled it would hike rates next year and the Swiss National...
- Reddit cofounder: The next Google is one visa away from leaving U.S. December 18, 2014Reddit's Alexis Ohanian has been vocal about the need for high-skilled visa reform. At stake? The country's position as a tech leader.
- Oprah-approved startup raises $6.25 million December 17, 2014News startup The Skimm announced a new round of funding, 1 million active readers, and plans to expand into a 'lifestyle brand.'
- Cow farmers get high-tech tracking app December 17, 2014Brazilian startup BovControl is turning cows into data with a mobile app.
- Google Ventures: less Ubers, more health care December 16, 2014The venture capital investment arm of the tech giant has quadrupled its funding of life sciences and health startups this year.
- Rahm Emanuel: How Chicago saved its small businesses December 16, 2014Read full story for latest details.
- Re-gifting is fine... if you follow these rules December 18, 2014Etiquette experts say re-gifting is generally considered acceptable, as long as you follow these rules.
- Toyota has best value: Consumer Reports December 18, 2014Read full story for latest details.
- The best thing to do now for your portfolio December 18, 2014Stocks have fallen over 3% in December and the outlook for 2015 is cloudy. It's a good time to rebalance.
- Novelty gifts for people with money to burn December 17, 2014For those who've got the cash, these holiday gifts can really make a statement.
- Saving America's malls from the brink of death December 17, 2014Read full story for latest details.
- NBA confirms L.A. Clippers sale to ex-Microsoft CEO Steve Ballmer May 30, 2014Donald Sterling sues the NBA for damages and demands to be reinstated as owner.
- FBI and SEC probe into Carl Icahn and golfer Phil Mickelson May 30, 2014Authorities are looking into the potenial insider trading.
- Google launches "right to be forgotten" service in Europe May 30, 2014Now European citizens can request to have search results removed.
- Five crazy things Steve Ballmer has done May 30, 2014In light of Ballmer placing the highest bid on an NBA team in history on Thursday, here are some of his wackiest actions and greatest hits.
- Zuckerberg's latest donation reawakens concerns over mixed results in Newark May 30, 2014Facebook founder and his wife donate $120 million to Bay Area schools, claim to have learned from previous gift to Newark, N.J. schools.
- What's wrong with Google? December 18, 2014Google may be a great place to work for, but it hasn't been a great place for investors to put their money lately.
- Payday lenders throw millions at powerful politicians to get their way December 18, 2014Payday lenders are spending millions of dollars in Washington in an attempt to stop the government from cracking down on the industry.
- Amazon unveils one-hour delivery in New York December 18, 2014Amazon now has a solution for some of its customers who can't wait a few hours for delivery.
- In Russia, no more $30 Ikea 'Billy' bookcases - at least for now December 18, 2014Ikea furniture has suddenly became a scarce good in Russia. The Swedish furniture maker has followed Apple and suspended sales after a dramatic fall in the ruble.
- Re-gifting is fine... if you follow these rules December 18, 2014Happy Re-Gifting Day!
- New York regulator lays out tweaks to bitcoin rules December 18, 2014WASHINGTON, Dec 18 (Reuters) - New York state plans to soften proposed rules for virtual currencies such as bitcoin, its banking regulator said on Thursday, after receiving a round of public comments.
- GLOBAL MARKETS-Stocks climb on Fed policy signals; oil slips again December 18, 2014(Updates with Wall Street rally, latest prices; changes dateline; previous LONDON) * Wall Street on track for second day of strong gains * Shares jump as Fed pledges to be patient on withdrawing...
- UPDATE 4-Swiss central bank announces negative interest rates to stem flight into franc December 18, 2014* Franc falls to lowest level against euro since mid-October (Adds reaction from banks, link to graphics)
- Fitch Downgrades Venezuela's IDRs to 'CCC' December 18, 2014(The following statement was released by the rating agency) NEW YORK, December 18 (Fitch) Fitch Ratings has downgraded Venezuela's Long-term foreign and local currency Issuer Default Ratings (IDRs)...
- UPDATE 1-Chile central bank says not close to currency market intervention December 18, 2014SANTIAGO, Dec 18 (Reuters) - Chile's central bank has no plans to intervene in the foreign exchange market, the bank's chief said on Thursday, even though Chile's peso has depreciated more than 14...
- Chevron delays Arctic drilling plan December 18, 2014Chevron's is the largest drilling project put on hold amid the sharp drop in oil prices. Marathon Oil and ConocoPhillips plan to cut spending next year. Fred Katayama reports.
- SNB goes negative December 18, 2014The Swiss National Bank announces a negative interest rate for the first time since the 1970s, hoping that by forcing banks to pay to deposit francs it can stem a flight to the safe-haven currency sparked by euro zone fears and crisis in Russia. David Pollard reports.
- Progress in S Africa, challenges too December 18, 2014A new IMF report says South Africa can celebrate significant progress in its first 20 years of democracy, but - amid power blackouts and fears of more credit rating downgrades - it still faces big challenges in reviving a weak economy. Hayley Platt reports.
- China's house prices fall again December 17, 2014New home prices in the world’s second largest economy dropped in November, but there might still be hope for China’s besieged property sector. Jane Lanhee Lee reports.
- Fed tweaks language, delights investors December 17, 2014Citing a stronger economy, the Fed announces a patient approach to rate hikes in 2015. Shartia Brantley reports
Post Tagged with: "Small business"
Small Business vs Entrepreneurship vs Capitalism If you are trying to get a handle on The Tycoon Playbook as some still are, I think this may help. Think of the business world as having three separate rungs. At the bottom you have the small business rung. The consensus definition of small business is that it’s primarily about having a steady pay-check for oneself with a little extra left over, hopefully, for the Golden Years. As a result, typical small business owners are concerned with playing it safe, taking as few risks as possible, and basically maintaining the status quo. Once a small business owner has reached a certain level of income their focus shifts to merely maintaining it rather than increasing it. Many small businesses can be found along the proverbial “Main Street.” On the next rung up is entrepreneurship. Entrepreneurship is an entirely different game. It’s about marshaling resources and taking calculated risks to create something new that will hopefully reward the founders with substantial wealth. Entrepreneurship has no allegiance to the status quo. Rather it’s about starting from scratch and disrupting the marketplace. Most entrepreneurial ventures will be found in emerging industries and fast growth markets. A few years ago I found myself in a heated exchange with a college business professor who was claiming that there is no difference between small business and entrepreneurship. I was flabbergasted by his inability to see the obvious differences. The highest and most lucrative rung is capitalism. Capitalism is simple to grasp if you think of it this way. It’s about using capital to acquire more capital. To make the concept as simple and clear as possible, it’s about starting with a single cashflow, in most cases, and then using it to keep acquiring more cashflows until the clock runs out. If you study how billionaires have made their fortunes over the past 200 or so years starting with the first tycoon, Commodore Cornelius Vanderbilt, you will see that wheeling and dealing in assets is the most proven route to great wealth. Most people today don’t understand this because for the past 15 years the media has been obsessed with the Internet and technology wunderkind. This narrow focus has led the masses to conclude that the Internet is the only road to wealth creation. However, for every online success story you hear about there are hundreds of failures, and I am only counting the teams which had a shot a success. I am excluding all the one-person blogs and sites that comprise 99.9999% of the 250 million domains registered as of December 2012. To put it bluntly, there’s just too much competition online today. All of the low-hanging fruit that could be picked by the little guy or gal was gone ten years ago. Today you need a high quality team and financial backing to go after any online opportunity still worth pursuing. Another serious problem with doing business exclusively online is the culture. No one under […]
Part 1: Daniel Isenberg On The Value Of Contrarian Entrepreneurs Babson Global professor and author of ‘Worthless, Impossible, and Stupid’ discusses super chickens, mud-runs, and innovative education models in Part 1 of a 2 part conversation with Steve Forbes. Part 2: Behind Every Great Entrepreneur Is A Great Entrepreneur Daniel Isenberg, author of “Worthless, Impossible, and Stupid,” talks to Steve Forbes about entrepreneurial failures, successful micro-enterprises in Rwanda, and why startups must think globally in order to truly endure. Part 2 of 2.
daily-infographic: Contributions to growth http://daily-infographic.tumblr.com/
“Succession Planning for a Family Business” Part 1 of 3 Michael Gray interviews attorney John Hopkins for Financial Insider Weekly about how to determine which child gets what proportion of your family business and some unique issues that come up when planning for the future of your family business. Part 1 of 3. Part 2 of 3 Part 3 of 3
Pramodita Sharma: Research on Women in Family Business Pramodita Sharma describes recent research trends regarding women in family business. She notes which trends are most relevant to women currently working in a family business, and she describes promising areas for future research.
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David Bork on Family Business Boundaries David Bork describes seven critical boundary issues for family businesses: compensation, succession, siblings, spouses, non-family executives, spouses of family members, and confidentiality.
James Olan Hutcheson on “The Six Reasons Why Family Businesses Fail” James Olan Hutcheson describes the six reasons for family business failure: a poor business concept; inexperienced management; poor planning; inadequate capital; inadequate financial controls; and “the family effect”.
“Talking Business Strategy” with David Norris, Business Consultant David Norris from Active Assist Business Consultancy, discusses the “take five rule”, running effective boards in family businesses and the order of magnitude benefits on turnover by narrowing the business focus for small companies.
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- British Student Launches Miraculous Fundraiser For "Homeless Hero" Who Helped Her In A Pinch December 17, 2014After losing her wallet one night, a British student found herself stranded with no way to pay for a subway. She ended up being saved by a "homeless hero". Now that selfless act is being returned in a BIG way.Read more: British Student Launches Miraculous Fundraiser For "Homeless Hero" Who Helped Her In A Pinch
- Vladimir Putin's Billionaire Buddies Have Lost An Astounding Amount Of Money In The Last Few Months December 17, 2014It's not a good time to be a Russian billionaire. As a result of western sanctions, falling oil prices and an imploding Russian economy, Vladimir Putin's billionaire buddies are seeing their fortunes evaporate.Read more: Vladimir Putin's Billionaire Buddies Have Lost An Astounding Amount Of Money In The Last Few Months
- Jose Diaz-Balart Net Worth December 16, 2014José Díaz-Balart Net Worth: José Díaz-Balart is a Cuban-American journalist and television anchorman who has a net worth of $5 million. José Díaz-Balart wasRead more: Jose Diaz-Balart Net Worth
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- Two Wells Fargo units to pay $1.5 million for anti-money laundering lapses: FINRA December 18, 2014(Reuters) - Two brokerage units of Wells Fargo & Co must pay a joint $1.5 million fine for failing to comply with anti-money laundering regulations by not verifying 220,000 new accounts during a...
- The best place to retire? You get to pick December 18, 2014NEW YORK (Reuters) - There are plenty of lists proclaiming "The Best Places to Retire."
- Allianz sells Fireman's Fund personal insurance business December 18, 2014FRANKFURT (Reuters) - German insurer Allianz on Thursday said it had agreed to sell its Fireman's Fund personal insurance business to insurer ACE for $365 million, freeing Allianz to focus on...
- After the new federal pension rules: What retirees need to know December 18, 2014CHICAGO (Reuters) - The last-minute deal to allow retiree pension benefit cuts as part of the federal spending bill for 2015 passed by Congress last week has set off shock waves in the U.S....
- World investors cut back stocks as risk aversion reigns December 18, 2014LONDON (Reuters) - World investors lifted exposure to bonds and cut back on more volatile equities as sentiment was buffeted by a Russian currency crisis, an uncertain growth outlook and rapidly...
- Deep Dive: Here are the best S&P 500 stocks and sectors of 2014 December 18, 2014It’s been a decent year for the market overall, despite all the warnings from bears.
- Need to Know: Google is now bigger than Mother Russia’s entire market December 18, 2014The stock market just went MAD. As in, it logged a major accumulation day. And Wednesday’s MAD, the first since October of last year, came in with a lopsided ratio of 17 to 1.
- David Weidner's Writing on the Wall: Here’s why Uber is getting a bad rap December 18, 2014It’s not that Uber is getting a bad rap, it’s that other companies don’t get the same criticism.
- Cuba could become Grand Central station for U.S. cruise ships December 18, 2014Could a Cuban beach vacation be the next big thing for American travelers?
- Jeff Reeves's Strength in Numbers: 5 high-yield, high-tech stocks for 2015 December 18, 2014Here are five tech companies that pay high dividends and have strong balance sheets.