director

Huffington Post…

If there is one thing that most Americans might agree upon is that the debt collection industry and the work it performs ranks in status somewhere below that of a Wall Street Banker and slightly above that of a U.S. Congressman. To a person, this industry laments this bad press and lack of appreciation. However, they don’t do much as individuals or agencies to change this viewpoint. Perhaps, just perhaps, they need motivation. As a 30-plus-year veteran of this industry, I invite my readers to campaign with me on this platform: that bill collectors must make — and keep — “5 New Year’s Resolutions for the Conscious Collector.” Whoooa, the “conscious” collector I can hear my own associates in that industry say? And coupling this up with making resolutions — those annual proclamations that people don’t keep? Am I setting up a false dichotomy? Perhaps, even insulting? Considering the track record, maybe, maybe not. Third-party agencies and debt buyers are coming off a banner year for collections made it possible by the hard work of the guy and gal on the front lines, the ones directly interfacing with the consumer or debtor. But, how could the worker bees be to blame for the hive’s reputation? After all, they’re just doing their job… To paraphrase Shakespeare….. “The fault… is not in our stars, but in ourselves, that we are underlings.” 2011 has been a Record Year for Collection Lawsuits . Lawsuits citing FDCPA violations reached 11,359 from 1/1/11 through 12/15/11 — exceeding last year’s 10,914. Here are a few examples of how you have earned your place on the popularity scale. *The President of an Erie, PA collection agency is accused of using a fake courtroom to intimidate debtors… (debtors were ‘summoned’ to a fake meeting room and ‘counseled’ to pay their debts or face consequences) and invokes the Fifth Amendment in a more authentic courtroom. *A San Diego based debt buyer and its subsidiaries employ collection approaches which investigators claim had “very little information about the debt… provided no supporting documentation… and included no proof that they actually acquired the debt from the original creditor… and also sometimes targeted the wrong individuals for collection and attempted to collect debts that had been fully or partially paid.” Wisely, the company had “set aside an additional $500,000 in anticipation of a settlement.” *A federal court ordered an individual behind a payday lending scheme and two companies he controls to pay $294,536 for illegally trying to garnish borrowers’ wages… along with other illegal collection practices. *There are 30 states that will allow imprisonment for unpaid debt — even though this has been illegal in the U.S. since 1833 — and underhanded agencies are taking advantage of loopholes to see the debtor land in the slammer. Even in the case of incomplete or false documentation… And, a news piece hot off the Newsweek Press on January 1, 2012, ” America’s Abusive Debt Collectors ” by journalist Gary Rivlin, best-selling author of Broke, USA . To read it is to weep. So, that’s the “reality” of debt collection as others see it. Where, exactly, can consciousness or “resolution” come in for a bill collector? It is one thing to be conscious of our circumstances, but an entirely a different thing to have the resolve (resolution?) to change things. And, why bother? You want positive change as a debtor, collector, creditor? Then, make it possible for the collector to put into effect the resolutions that can turn things around. Resolution #1 — I will not work for an agency or debt buyer which employs or encourages duplicity in its collection efforts, i.e., phony courtrooms. Resolution #2 — I will only work accounts which have supporting documentation as to proof of debt. If my agency, or its client, cannot provide that proof — that account is returned with a “write it off” recommendation. Resolution #3 — I will refuse to attempt collections on OOS (out of statute) accounts. Resolution #4 — I will refuse to collect on personal loans (the infamous “payday” loan as example) which include “bumps” or fees and collection charges in tandem with egregious interest rates. Basically, I will exercise the Golden Rule. The result of this would be a Conscious Collector who is aware of the applicable laws, knows the originator (and legitimacy) of a debt, and acts ethically and professionally. Oh yes, and Resolution #5 ? That one belongs to the employers — the creditor, the agency and/or the debt buyer — the ones who set the bar: “I will hire only collectors who have made — and live by — the above four resolutions.” Hard working, ethical and conscientious bill collectors. Now, that should grab the headlines in 2012 .

See original here:
Jerry Ashton: Demand That Collection Agencies Keep "The 5 New Year’s Resolutions for the Conscious Bill Collector"

Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

{ 0 comments }

Richard Cordray: Standing Up for Consumers

by Richard Cordray on January 4, 2012

Huffington Post…

Today, I was appointed by President Obama to serve as the first Director of the Consumer Financial Protection Bureau. I am honored by this opportunity to continue my work on behalf of consumers. And I am energized by the responsibilities and challenges facing the Bureau. The importance of this day has less to do with me personally and much more to do with you — and the millions of individuals and families across the country who access consumer financial markets every day to participate in our economy and to pursue their dreams and aspirations. That’s because now, with a Director, the CFPB can exercise its full authorities — with respect to both banks and nonbanks — to help those markets operate fairly, transparently, and competitively. Consumer finance is a big part of our economy — and it plays a large role in the daily life of almost every American. Few people spend their entire lives with so much wealth available to them that they never need to borrow money. Whether it is to pay the bills and meet their everyday needs, or to finance larger investments in their futures like an education or a home , most people find it necessary to use financial products to access credit. Financial products can help make life better, but they can also make life harder. Most of us know at least someone — a parent or sibling or friend — who has money troubles. Sometimes, those troubles are caused by a tough break or just not having enough money to go around; other times, by a poor decision. But sometimes, those consumer money troubles arise out of problems in the consumer financial markets. I have seen senior citizens lose their life savings to scams and fraud. I have seen young adults start their lives with crushing student loan debt burdens that they cannot afford. I have seen families bankrupted, and thrown out of their homes, by complex mortgages with spiraling interest costs and monthly payments that were never clearly explained. In its first six months, the CFPB has taken significant steps to make consumer financial markets more transparent so they work better for consumers and for responsible businesses. Our Know Before You Owe campaign has worked to improve disclosures and make the costs, risks, and benefits of financial transactions easier for consumers to understand. We have also launched our bank supervision program. CFPB examiners are now on the ground at the nation’s largest financial institutions, reviewing documents and asking tough questions about how these banks are complying with consumer financial protection laws. One difficulty we faced until now was that, without a director, we were unable to address all the problems we were created to tackle. In particular, we lacked the ability to supervise financial institutions other than big banks — like nonbank mortgage lenders and servicers, and payday lenders. Many of these institutions had no regular federal oversight in the run up to the financial crisis. They led a race to the bottom that pushed aside responsible businesses, including community banks and credit unions, and greatly harmed consumers. I am pleased to say that we will now be able to exercise the full authorities granted to us under the law and begin to supervise these nonbanks. Standing up this program is a top priority for the CFPB. Over the coming weeks we’ll be announcing more information about this program and how it will help to improve the consumer financial markets. As we move forward, please let us know what you think . My colleagues and I are determined to deliver positive results for American consumers in all of our efforts. We want people to know what we are doing and we want to hear their reactions. We are confident that, with help and input from consumers and honest businesses, we can play an important role in safeguarding consumers, consumer financial markets, and the American economy.

Go here to read the rest:
Richard Cordray: Standing Up for Consumers

Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

{ 0 comments }

Tiffany Williams: Protecting Guest Workers in the United States

December 27, 2011

As the director of a project focused on the rights of migrant workers, I have been closely following the situation at the Hershey’s Chocolate packing plant in Palmyra, Pennsylvania. Earlier this year, exchange students on J-1 visas faced threats and retaliation from their recruiting agency, the Council for Educational Travel (CETUSA) when they came forward to report exploitative conditions that violated federal worker protection laws and State Department regulations. The J-1 visa “summer work travel program,” of which these students were a part, is intended to provide foreign college students with cultural immersion and the opportunity to “live and work in the United States,” yet the students at the Hershey plant reported such restrictive work and living environments that there was no opportunity to do more than survive. In August, the students filed a complaint with the State Department that contained serious allegations of intimidation and retaliation by their agency, the Council for Educational Travel (CETUSA). Shortly after, a human rights delegation , comprised of professors and practitioners with expertise in labor and employment law, and international human rights, expressed serious concerns about students’ accounts of deception, coercion and threats from their recruiting agency. They called on the State Department to conduct an objective and expansive investigation of the sponsor. The New York Times reported on their plight in October, noting that “CETUSA failed to heed many distress signals from students over many months, and responded to some with threats of expulsion from the program.” For example, the company threatened to revoke a student’s visa when he complained to the State Department. For the last 13 years, my project, Break the Chain Campaign at the Institute for Policy Studies has focused on human trafficking of nannies and maids within the A-3/G-5 visa program, which include household workers for diplomats and employees of international organizations. Our work has shown the significant impact that improved oversight, education of workers and enforcement of consequences could have on curbing exploitation. We believe the key to successful improvements in this program has been collaboration with anti-trafficking service organizations and grassroots advocates who can share on-the-ground experiences with policymakers. There are still extensive improvements needed, particularly with worker education, but the progress has given us hope. The State Department recently announced they would be completing a thorough review of the J-1 visa program. But as of this writing CETUSA is still sponsoring high school and college students on J-1 visas who plan to come to the United States. That’s why the National Guestworker Alliance , the workers’ rights group supporting the students, is now calling on the government to immediately suspend CETUSA from the program. Yet CETUSA is only one of many recruiting agencies. And A-3, G-5, and J-1 visas are only a few of the many visas with inherent weaknesses that leave participants vulnerable to exploitation by sponsoring individuals or agencies due to a weakly regulated sponsorship and penalty process. The H-2A program for agricultural guest workers, H-2B program for non-agricultural guest workers, and the H-1B program for teachers, scientists and other “specialty” guest workers are other examples. Consider these other cases of guestworker exploitation in the United States. In April this year, the Equal Employment Opportunity Commission filed a suit against the company Global Horizons for exploiting 400 Thai farmworkers working in Hawaii and Washington State. A company called Signal exploited more than 500 guest workers from India in shipyards after Hurricane Katrina. The Southern Poverty Law Center made history in December when it successfully brought a class-action human trafficking lawsuit on behalf of 350 Filipina teachers in Louisiana who came there with H1-B visas. It’s the first time the Trafficking Victims Protection Act has been used to protect a group rather than an individual. In this case, the trial next July will center on the allegations that the teachers were brought to the United States by labor contractors who extorted huge fees and confiscated their passports, effectively subjecting the teachers to forced labor. Workers’ rights advocates, alongside anti-human trafficking advocates, have been urging the U.S. government to thoroughly review visa programs that depend on foreign labor contractors in order to minimize the vulnerability of workers to human trafficking and exploitation. Various drafts of the Trafficking Victims Protection Act, notably the House version of the bill considered in 2008, have included extensive proposals for such regulations and remedies for victims, yet the U.S. government continues to fail in implementing serious protective reform. While some contend that our economy depends on cheap foreign labor, no one would argue that our economy requires the severe wage exploitation, fraudulent contracts, restriction of movement and the (sometimes violent) retaliation after complaints that we have seen repeatedly with these visa programs. It’s long past time for the federal government to make meaningful changes to protect guest workers.

Read the full article →

Analysis: Region Formerly Gorged On Debt Adjusting To Great Stagnation

December 22, 2011

LONDON (Reuters) – With governments laboring under too much debt and banks hobbled by too little capital, 2012 is shaping up as another year of hard slog for Europe’s economy that could yet test the single currency to destruction. The Netherlands on Thursday became the latest country to report that output shrank in the third quarter, lending credibility to forecasts that the broader euro zone will soon be in recession if it is not already. A generation that gorged on debt is now adjusting to what some are calling the Great Stagnation. Talk of a lost decade, like Japan in the 1990s, no longer seems outlandish. So far so familiar. What worries economists is that the longer the deleveraging of government and bank and household balance sheets drags on, the greater the risk of market or policy accidents. If the economy is already at stall speed, an unexpected shock could send it into a deep dive. In an age of globally integrated supply chains and capital markets, the impact on the rest of the world could be severe. “Entering 2012, we are facing uncertainty on the grandest of scales,” HSBC economists led by Stephen King said in their latest quarterly report. The good news was that euro zone policymakers recognized that a break-up of the 17-member bloc could spark another great depression. But, despite signs of greater urgency, investors for the most part remained unconvinced that a strategy was in place to ease the debt burdens straining the single currency. “This loss of faith is reminiscent of the collapse in confidence in 2008, when the wheels came off the global economy. Back then, forecasters completely failed to grasp the gravity of the situation. The same may be true today,” HSBC said. TALL ORDER As the world economy slumped after the collapse of U.S. investment bank Lehman Brothers in 2008, governments had room for maneuver. Today, with fiscal austerity in fashion and interest rates near zero across the developed world, firepower is limited. “Indeed, with the risk of recession on the rise, debt dynamics are in danger of spinning out of control,” HSBC said. The European Central Bank acted decisively on Wednesday to limit the immediate danger by lending banks a whopping 489 billion euros in cheap three-year loans. The cash injection will reduce the risk of a credit crunch and fire sales of assets by banks shut out of the wholesale funding markets. But the ECB is at best buying time to help weaker euro zone members put their finances back in order and recoup competitiveness lost as a result of having weaker productivity and higher labor costs than core countries led by Germany. It is the sheer magnitude of this task that is unnerving markets. Take Greece, which is racing to thrash out sweeping pro-growth structural reforms demanded by the European Union and the International Monetary Fund to unlock a 130 billion euro loan needed to stave off default. “This is a process, as we’ve seen in IMF program countries, that takes well over 10 years and that’s as long as Greece will need with the help of financial support and technical assistance missions from the EU and the IMF,” said Antonio Garcia Pascual, an economist at Barclays Capital in London. Yet Greece is already in the fourth year of a deep recession. And even if the EU-IMF program succeeds, its debt in 2020 would still be a suffocating 120 percent of GDP. How long will voters endure austerity imposed from abroad and, at the same time, go along with sweeping changes to everything from pensions to labor laws and the prizing open of long-protected professions and industries? “Structural reform is essentially about a society changing its way of life,” a senior European central banker said. “It’s not obvious that creating extra liquidity can make those fundamental reforms easier.” QUESTION OF BALANCE New modeling by Goldman Sachs dramatizes the challenge facing countries on the periphery of the euro zone. In order to stabilize the net debt of the entire economy these countries need a sizeable adjustment in their current account deficits. This in turn points to the need for a depreciation in the real, or inflation-adjusted, exchange rate of as much as 44 percent in Portugal, 35 percent in Greece and Spain and 20 percent in Italy, Goldman estimates. That means prices would need to rise less, or even decline, relative to the euro zone average for about 15 years in the case of Greece and Spain and almost 20 years in Portugal, requiring savage wage cuts in the process. This required correction immediately throws up another huge problem: if the periphery is holding inflation down to zero to cut costs, core countries will have to tolerate prices rising above 3 percent if the ECB is to keep euro area average inflation on target at no more than 2 percent. “This might be problematic for the ECB as certain core countries (such as Germany) could potentially have difficulties accepting such higher inflation for a prolonged period of time,” wrote Goldman economist Lasse Holboell W. Nielsen. GLOBAL DEBT MESS The euro zone is not alone in its struggles to manage excessive debt. Japan’s gross public debt has soared to more than 200 percent of GDP. The deterioration has not prevented the government from selling its bonds at low and stable yields, but a new IMF working paper warns that over the medium term, the market’s capacity to absorb new debt is likely to diminish as the population ages and appetite for riskier assets recovers. The result could be a worsening of Japan’s debt dynamics that poses a threat to financial stability. “Without a significant policy adjustment, the stock of gross public debt could exceed household financial assets in around 10 years, at which point domestic financing may become more difficult,” IMF economists Waikei Raphael Lam and Kiichi Tokuoka wrote. And in the United States, alongside what most economists see as an unsustainable public-sector debt trajectory, families still have too much debt accumulated in the go-go years before the great financial crisis. Household debt as a percentage of disposable income peaked in mid-2007 at 135 percent of GDP. It has since declined to around 120 percent but remains more than 20 percentage points above its 30-year average, according to Nathan Sheets, global head of international economics at Citi in New York. He said it was reasonable to assume deleveraging would continue at the same steady rate – which would prolong the process into the second half of this decade – but the pace could quicken markedly in the event of a collapse of asset prices, a sharp drop in disposable income or a renewed tightening of financial conditions. Which brings us back to the mountain the euro zone still has to climb in 2012. “Given the ongoing stresses in Europe, such risks are not just abstract possibilities but rather all-too-plausible outcomes that need to be carefully considered, with an eye to reducing potential vulnerabilities,” Sheets said in a report. (Editing by Mike Peacock) Copyright 2011 Thomson Reuters. Click for Restrictions .

Read the full article →

Adam Levin: Memo to American Consumers: You Just Got Screwed… Again

December 9, 2011

The too-big-to-fail boys and their GOP handmaidens — the Hon. Richard Shelby, the Hon. Mitch McConnell and the other 43 legislative dwarves in the U.S. Senate — have struck again. Senate Republicans blocked the confirmation of Richard Cordray as Director of the Consumer Financial Protection Bureau, which is the first federal regulator charged with enforcing consumer financial protection laws. Plain and simple — just like we experienced a few months earlier with Elizabeth Warren (whose potential nomination was derailed by the same band of robber barons) — Mr. Cordray is the newest roadkill on the conservative superhighway, and the American people have been hosed yet again. Now, you might not realize this, because you’re about to witness a cable news cycle full of Republican senators prattling on as to why their vote was really about accountability and good government. Don’t buy it, my friends. Thursday’s vote was a simple win for greed and gridlock. Republicans didn’t need to win (actually they lost, 45 to 53). To secure their next round of campaign contributions from their financial patrons, all they needed to do was stall. And in that respect, they hit the ball out of the park. Thursday’s vote assures that a whole host of banks and other non-banking financial services companies won’t have a real cop on the beat until at least November 2012, when the next presidential election is decided. Furthermore, the GOP is counting on the fact that when the smoke clears in January 2013, they will be running the show so that they can stamp out all of this consumer protection rubbish once and for all. Guess who lost? Consumers — obviously. But other folks lost, as well. Take, for instance, honest companies (including some of the nation’s largest banks), and anyone who cares about doing business on a level playing field in an environment of integrity. First, a little background. Congress created the Consumer Financial Protection Bureau, which launched last summer, as part of the Dodd-Frank financial reform package. A lynchpin of the legislation is the CFPB, which represents the first federal agency exclusively devoted to the protection of the consumer in the financial services area. Consumer law enforcement responsibility previously scattered among seven other financial regulatory agencies has been consolidated under the CFPB. Whereas other regulators are primarily concerned with promoting the safety and soundness of the American economy (which all too often they confused with protecting the profits of big banks and Wall Street investment firms), the CFPB is a one-stop shop for consumer education, advocacy, research and enforcement. This is vitally important work. Here’s the most obvious reason why: the late-stage mortgage boom of the mid-2000s, and the crisis it caused, was fueled by greed, ignorance, irresponsibility and fraud. After years of historically low interest rates, lenders and the Wall Street firms that funded them had largely run out of qualified people to whom they could lend money. But the banks and investment houses were too addicted to the easy money they made from mortgage fees to change course. Lines were blurred, rules were broken and facilitators were rewarded for creating exotic and risky bundles of securitized loans — which were then off-loaded to uninitiated and unsuspecting investors. According to insider testimony, brokers at companies like Countrywide Financial, the largest subprime lender during the boom, tricked people into taking on loans they couldn’t afford. And then the big boys went about enticing everyone from pension funds to Scandinavian fishing villages to buy those junky loans. When the whole thing fell apart, 99.25 percent of the people were decimated. (You don’t really believe that the entire 1 percent escaped scot-free, do you?) People with mortgages that never should have been written in the first place found the banks too overwhelmed with bad loans to help. Everyone else suffered, too, since the average value of all our homes has dropped by a third since the boom time peak. Guess who also lost out? Honest bankers and any other business that tried to stay free from the mess. Many financial institutions actually tried for years avoid the subprime market. But non-banks like Countrywide were making so much money that eventually, virtually every major bank had to get into the business just to preserve market share. The Consumer Financial Protection Bureau has the power to level the playing field for consumers and honest bankers, but only if and when it has a permanent director. It can educate, do research and enforce existing legislation, but when it comes to the important, innovative work for which it was created, it is seriously hampered. Like an embryo permanently trapped in the womb of the Treasury Department, without a director, it has no power to prevent “unfair, abusive or deceptive practices,” which, of course, is the core of its being. It can’t even write new rules to enforce existing laws designed to protect consumers from mortgage fraud, payday loans charging 400-percent interest, and student loans that consumers can never escape, even if they declare bankruptcy. Republican leaders would have you believe that they blocked this important work because they fear the CFPB has “unprecedented” power and is “unaccountable” to voters and Congress, in the words of Senator Richard Shelby. Who does the Honorable Gentleman from the Great State of Alabama think he’s kidding? Nobody. The CFPB actually has less power than any other financial regulator. (The other seven can even veto any bureau decision.) This isn’t a fight about accountability, transparency, or any such noble cause. It’s a fight about who will win in our economy. It’s a fight between consumers and honest businesspeople on one side, and predators, charlatans and snake oil salesmen on the other. By doing the bidding of their Wall Street contributors, Republicans aren’t just hurting consumers. They’re actually hurting the companies and values they claim to represent. Real bank profits don’t require devious schemes. Real innovation in the financial markets doesn’t involve fraud. Stable banks and a stable middle class depend on everybody playing by the same rules. Senate Republicans, meanwhile, continue to play by an older set of rules, one that already sent our economy down the path of crisis and ruination. “Congress has remained a collection of two-cent politicians who could serve well enough in simpler days,” TIME magazine wrote in 1942. “But the ignorance and provincialism of Congress renders it incapable of meeting the needs of modern government.” Truer words were never spoken. We need the minority party in the Senate to get with the program. We need a CFPB with the firepower, the funds and the fangs to do its job. Until we get that, honest American consumers and businesspeople will continue to get pulverized.

Read the full article →

A CNBC Mention, Positive Or Negative, Causes Stock Prices To Rise

December 5, 2011

For most companies, just getting mentioned on CNBC is enough to send stock prices rising — and it doesn’t seem to matter if the news is good or bad. A recent study from a Ph.D. candidate at UC Berkeley shows that a company’s stock price is likely to climb if that company is named on the business network CNBC. And it doesn’t have to be in the context of a compliment: Prices show a tendency to rise even if CNBC is reporting something negative about the company. The findings may strengthen the suspicions of anyone who believes that media coverage has a distorting influence on the market. And they may be cause for exasperation for anyone trying to decode the movements of stock prices — a game that has lately become harder to play , with rampant economic uncertainty leading markets to show as much volatility in 2011 as in any year in recent memory. Reza Shabani, the author of the paper, offers a few different theories for why bad press on CNBC might result in a price bounce for a company’s stock. When a company is mentioned on CNBC, Shabani says, it reminds investors that the company exists. Some investors might decide they want to own stock in that company, and thus buy it, while others might decide they no longer want to own stock in that company, and sell it. The key point, according to Shabani, is that any investor can buy stock in the company, while only those who already own the stock can sell it. Therefore, the net effect tends to be a buy-in for the stock and a rise in share prices. Shabani’s paper isn’t the first time CNBC has been linked with significant market movements. Critics have long accused the network of amplifying and accelerating trends in the market . In 2001, the financial columnist James Surowiecki wrote in The New Yorker that CNBC ” distorts the way the market works and helps turn what should be a diverse, independent-thinking crowd of investors into a herd acting upon a single collective thought .” And years later, Daily Show host Jon Stewart charged CNBC with fostering an atmosphere of irresponsible exuberance that hastened the financial crisis. But CNBC isn’t the only media outlet thought to wield an outsize influence on the markets it covers. Indeed, research suggests that any financial journalist can cause investors to hear the news a certain way through something as simple as her choice of metaphors .

Read the full article →

U.K.’s Brown: Without ‘Global Coordination,’ U.S. Could Face Decade Of High Unemployment

September 16, 2011

Europe and the United States could face 10 years of slow growth and high unemployment if a global solution for the euro zone debt crisis is not implemented soon, former British Prime Minister Gordon Brown said on Friday. “Unless there is global coordination…I foresee 10 years of low growth in Europe and America, I foresee very high levels of unemployment and I foresee a failure of coordination that will lead in the end to greater protectionism,” Brown told reporters and participants at the World Economic Forum in Dalian. The sovereign debt crisis gripping Europe has seen Greece, Portugal and Ireland forced to take bailouts, piled bond market pressure on Italy and Spain and raised fears of a banking crisis as wholesale funding evaporates on concerns about lenders’ potential exposure. The European Central Bank said on Thursday it would work with other major central banks to offer three-month dollar loans to commercial lenders to prevent money markets freezing up. However, some investors said more needed to be done, including more aggressive capital injections for banks that are overexposed to heavily indebted euro zone countries. “You cannot begin to solve the European problem unless you understand it is a banking problem, a growth problem, the inability of the European economies to grow out of a recession, as well as being a fiscal problem,” Brown said. Brown, who was finance minister for 10 years before becoming prime minister in 2007 and won praise for his handling of the early stages of the global economic crisis in 2008/09, said the crisis should be solved by having a “global agreement” on how the world economy should grow. Such an agreement would need to address the rebalancing of exports and consumption between developing countries, such as China and India, and developed countries, such as the United States. “You will need an international agreement, not just a euro area agreement, to sort out the problems that Europe now faces and the IMF will be involved in some stage in this in my view,” Brown said, adding that he agreed with the widely held view that the European Financial Stability Facility, Europe’s bailout fund, of 400 billion euros was insufficient. A growing number of policymakers, as well as market economists, are convinced it is only a matter of time before Greece, which keeps falling behind on fiscal targets agreed with its international creditors, will have to default. But British insurer Prudential’ s (PRU.L) Chief Executive Tidjane Thiam said he did not see a Greek default on the cards. “I don’t think they will default, I think the market thinks they will default. I don’t think they will because the consequences on the banks in particular are too significant, particularly to France and Germany,” Thiam said. (Reporting by Melanie Lee; Editing by Alex Richardson) Copyright 2011 Thomson Reuters. Click for Restrictions .

Read the full article →

Caroline Dowd-Higgins: Career Management Is Leadership Behavior

September 6, 2011

You must take responsibility for your own career future since it’s not your boss’s job to look out for you. Many people are blindsided by lay-offs and downsizings that are economy driven and don’t have anything to do with work performance. We are all expendable so it’s imperative to have a short-term and long-term plan and be in charge of your own career destiny so it never happens by default. Here are some great tips to help you become more pro-active as you develop and implement your personal career action plan. Network Before You Need It — you should always be growing your professional community even when you are not job searching. Think of it as building relationships, an opportunity to stay on top of current trends, and a chance to share your strengths story and abilities with others. The hidden job market is alive and well since approximately 80 percent of jobs are still never posted. People hire who they know and trust so you must not be a well-kept secret. Get out there and meet people face-to-face so you are ready when opportunity knocks, or when you need to rally your troops for advice and counsel. Remember to be a good networker and pay-it-forward to others in need. Have an Exit Strategy — with mergers & acquisitions in the corporate and non-profit arena part of the new normal, you must be ready to leave on your own terms before the pink slips are distributed along with the new company letterhead. Consider where you want to go when things are going well on the job so you have the luxury of thinking clearly, without stress and can plan your next steps well in advance. Always Tell Your Strengths Story — men have been talking about what they do well with confidence for decades and women lag far behind in promoting themselves. You must be your own best self advocate and learn to talk about what you do well so you can articulate your unique special sauce and professional worth. Consider the humble confidence mindset so you can brag comfortably in your own skin about the accolades you have earned. Remember nobody gave you these success stories — you worked your tail off to earn them. Keep Your Resume/Portfolio Current — things change fast so you need to have your resume/CV or professional portfolio polished and ready when opportunity knocks or when you find yourself in job search mode. Share your documents with trusted advisors to get their feedback on what your professional persona is on paper and how effective your materials are at showcasing you at your best. Seek out the services of a professional resume writer if you need expert assistance. Don’t Rely on Your Boss to Grow Your Career — no matter how great you think your boss may be, and many are not, he/she is not in charge of your next career move. You alone have accountability for where you want to go. If your current boss is not star material, giving you opportunities to grow within an organization that you love, it may be time to look for one that is. Re-evaluate Your Goals — life changes (a lot!) so you must evaluate your goals and your plan of action on a regular basis and adjust accordingly. If you find yourself pursuing an advanced degree, for example, you need to build that time into your long-term plan. Be flexible knowing that the only thing constant is change but keep your eye on the prize. Check-in with Your Accountability Master — someone on your personal Board of Directors needs to be charged with keeping you on task with your professional goals. It’s easy to get side-tracked, overwhelmed, and just plain stressed-out so your accountability master will give you a swift kick and the vote of confidence you need to do what you really need to do in order to move forward. Seek Out Professional Development Opportunities — in order to stand out from the pack you must be a lifelong learner. Don’t wait for your organization to invest in your future. Seek out conferences, credentials, workshops, and other opportunities to sharpen your skills and enhance your value-add in the workplace. This is an investment in your future and it’s tax-deductible. Whether you are an official leader in your workplace or not, you must embrace the mindset of a leader when it comes to your personal career management. Stay current in your field, or investigate new ways to play to your strengths. Have the courage and confidence to talk about what you do well and map out a short-term and long-term plan with action steps so you can achieve the goals you so well deserve. You need not do this all alone. Tap the expertise of your personal Board of Directors, especially your accountability master to keep you on track and be in control of your career destiny. You deserve to be in charge of your own career — so assume that leadership role now! Caroline Dowd-Higgins authored the book “This Is Not the Career I Ordered” and maintains the career reinvention blog of the same name ( www.carolinedowdhiggins.com ) She is also the Director of Career & Professional Development and an Adjunct Faculty member at Indiana University Maurer School of Law.

Read the full article →

Barney Frank Blasts GOP ‘Arsonists’ For Blocking Obama Nominees

September 2, 2011

Rep. Barney Frank (D-Mass.) sharply criticized Senate Republicans Friday for blocking President Barack Obama’s nominees to head government agencies. “It is the legislative equivalent to an arsonist having set a fire and objecting to a building’s inhabitants using the fire exit,” Frank writes in an op-ed for The Washington Post . Frank presents the case of Richard Cordray, a former state attorney general who was nominated by Obama in July to head the Consumer Financial Protection Bureau. Senate Republicans vowed to block Cordray’s nomination — or that of any nominee — without changes designed to weaken the new agency. Cordray is just one in a long line of Obama nominees that Republicans have blocked in order to protect financial institutions, Frank writes. In June, Peter Diamond withdrew his nomination for Federal Reserve governor after failing to gain support from Senate Republicans. Richard Shelby (R-Ala.), the top Republican on the Senate Banking Committee, was just one GOP leader who criticized the nomination, saying Diamond — who won the Nobel Prize in economics in 2010 — lacked monetary policy experience. Shelby also had a hand in ousting Joseph Smith, who was nominated by Obama to be the director of the Federal Housing Finance Agency. While Frank notes that the Republicans’ ability to object to the independence of the consumer agency is “entirely legitimate,” he does disagree with what he sees as a misuse of power. “Senate Republicans are not entitled to use the confirmation power as a bludgeon to get their way when they cannot do so through the normal legislative process,” Frank writes. As for Cordray, Frank expresses disappointment in the 44 Senate Republicans who have vowed they won’t consider him to head the CFPB. “We’re going to see an extraordinarily qualified administrator of an important consumer protection agency be trashed by the Senate Republican minority because their primary goal is to ensure that financial institutions are not troubled by what they may see as an excessive concern for consumer fairness,” Frank writes. Related video:

Read the full article →

Justice Department, Four States Say For-Profit College Corporation Violated Federal Law

August 8, 2011

The U.S. Justice Department and four states sued the nation’s second-largest for-profit college corporation on Monday, alleging in a wide-ranging complaint that Education Management Corp. violated federal laws by giving bonuses and raises to college recruiters based entirely on the number of students they enrolled. By unlawfully incentivizing its sales force to recruit as many students as possible, Pittsburgh-based EDMC also illegally took in federal student aid money by making false assurances to the government that its admissions counselors were complying with the government recruiting guidelines, the government alleged. “EDMC has created a ‘boiler room’ style sales culture and has made recruiting and enrolling new students the sole focus of its compensation system,” reads the complaint, filed by the Justice Department and attorneys general in Indiana, Illinois, Florida and California. Read the entire complaint The for-profit higher education industry has faced increased federal scrutiny over the past year amid increasing evidence that some schools are preying on disadvantaged students in an attempt to harness federal student aid dollars as profits. The company has taken in more than $11 billion in federal student aid dollars since July 1, 2003. Monday’s complaint represents one of the most direct challenges by the federal government to allegations of high-pressure recruiting tactics aimed at enrolling as many students as possible, regardless of whether they are likely to succeed. In a statement from EDMC’s legal counsel, the company denied that student enrollments were the only factor considered in compensating admissions employees. “EDMC worked closely with outside experts in both human resources and education law to develop a plan that required consideration of five quality factors along with enrollment numbers to determine salaries,” the statement read. “The complaint is wrong in its claim that EDMC disregarded the quality factors in the compensation plan. EDMC worked rigorously to ensure that the plan was properly implemented company-wide.” The complaint from the federal government notes that admissions employees were told to enroll students who were “unable to write coherently, applicants who appear … to be under the influence of drugs, and applicants for EDMC’s online programs who do not own computers.” To entice recruiters to enroll more students, EDMC created a “President’s Club” for the highest-performing recruiters, offering all-expenses paid trips to destinations such as Las Vegas, Cancun and Puerto Vallarta, Mexico. Others were offered Pittsburgh Pirates baseball tickets, free passes to amusement parks and other gift cards based on the number of student enrollments secured, according to the complaint. For those who did not comply with a rigid performance matrix that tracked the number of enrollments per recruiter, the consequences were made clear. The complaint cites an e-mail from Gregg Schneider, a director of admissions at EDMC’s Art Institute Online, that chided admissions employees for not meeting recruitment goals in October 2006. “Each of you knows your plan for November,” the e-mail read. “This number is not a casual level that I want you to be at but rather a number that you must hit to have a good review, get promoted or keep your position here. This number is set by the VP of Admissions and the Director of Admissions.” E-mail from Gregg Schneider, director of admissions schneideremail The case emerged from a federal whistleblower lawsuit filed by a former employee in 2007. The Justice Department intervened in the case in May, and Monday’s complaint was the first look at what the government plans to present in court. The federal government and the four states are seeking a jury trial, and are asking for damages and a recovery of the federal funds. A number of top executives at EDMC, including chief executive officer Todd S. Nelson, moved to the company from the University of Phoenix, which paid $9.8 million to settle a similar dispute with the Department of Education over improper employee compensation. At issue in the case is whether EDMC violated the federal False Claims Act. In order to be eligible for federal student aid money, a school must comply with various consumer protection measures written into the Higher Education Act. One of those rules governs incentives that can be given to recruiters. After a series of problems in the 1980s involving fraudulent for-profit trade colleges, Congress banned schools from making “any commission, bonus or other incentive payment based directly or indirectly on success in securing enrollments or financial aid to any persons or entities engaged in any student recruiting or admission activities.” In 2002, the Department of Education under the George W. Bush administration added a series of “safe harbors” to the rules, which added language saying that salaries can be adjusted as long as they are “not based solely on the number of students recruited, admitted, enrolled, or awarded financial aid.” Critics argued that the addition of the word “solely” gave schools too much leeway in deciding how to dole out raises. The Obama administration has removed the “safe harbor” provisions from the recruiting rules, under new regulations that took effect in July.

Read the full article →

Caroline Dowd-Higgins: Does Your Career Zig or Zag?

June 2, 2011

My father spent his entire career with one organization and 45+ years working his way up the ladder of the competitive banking and finance industry. While he enjoyed multiple retirement parties and was given the proverbial gold watch upon his self-determined exit from the workforce, he represents a generation of professionals that are becoming extinct. In 2011, it’s not so much that people have changed their professional values but that organizations don’t honor the long-term employee as they did in years past. The “grow talent from within” philosophy can still be found in some of the corporate giants like Proctor & Gamble and DuPont but today organizations are also embracing the new industry zig-zaggers . These individuals have multiple companies represented on their resumes and work for brief stints, then move on. What they bring to the table is innovation, an ability to be flexible and embrace change, and a fresh approach to solving problems with creative solutions. Recruiters and hiring managers are now welcoming the new industry zig-zaggers because these professionals know their unique value-add in the workplace. They bring with them a breath of fresh air and often the industry tricks-of-the-trade from competitor organizations. Many zig-zaggers have made conscious career transitions because they find change stimulating, while others have had to showcase their resiliency in an unmerciful job market and needed to reinvent quickly. It used to be that having short stints at multiple companies was a red flag when applying for a new position. Times have changed and these candidates can market themselves wisely as desirable hires if they don’t present as an immediate flight risk. Here are some things to consider if you are a conscious zig-zagger , or someone trying to make a fresh start in this unpredictable job economy. Showcase Your Value-Add . Every employer wants to know what they will get as a return on their investment if they hire you. Be prepared to clearly define what you bring to the table. Develop your 30/60/90 day plan and systematically outline your strategy for success in the organization. Be well prepared and know what the company needs before your interview. Illustrate Your Flexibility, Innovation, and Ability to Handle Change . These are the most highly sought after competencies as reported by head hunters and recruiters these days. The company can train you for additional skills but you must be a good cultural fit and be ready to handle whatever comes your way. The only consistent thing about this career world is that it will continue to change quickly. Zig-zaggers should demonstrate how they bounced back after a set-back and handle uncertainty with an open mind and a positive attitude during the new job interview. Often new leaders are born when they step up to the plate and accept organizational change without complaining. Here’s where a zig-zagger can have an edge. Know the Value of Transferable Skills in Career Reinvention . Many zig-zaggers have reinvented their careers in entirely different industries. Be firmly in control of your own marketing message to help others understand the value of your transferable skills. Be ready to give examples and consider this when selecting your references that will be called if you are a final candidate. They too should be able to speak to the power of your transferable skills. Long Term Career Plan . Some professionals became zig-zaggers beyond their control, and others have opted for short-term assignments to consciously grow their careers when they hit the glass ceiling. In many companies, moving up and out is the only opportunity for promotion and career growth. Any hiring manager worth their salt is going to probe into your long-term career plan. If you value security and longevity in an organization, don’t be shy about saying so, especially if this is also a company value. But be aware that organizations want you around long enough so that you become profitable to them after the initial training and orientation period. If you are a perpetual zig-zagger you will need to choose organizations that embrace your constant momentum and have a shorter value-add period for their pay back. Since a lifelong career path in a single organization is going by the way of the dinosaur, you must be in control of your own career destiny. Don’t assume your boss is looking out for your career future. Consider where you want to be in five-year increments and develop a plan to get yourself there. If upward mobility requires a bit of zig-zagging , you will not be ostracized as long as you can definitively show your value to a company and a sincere interest in working at the organization. Whether you zig or zag — your career destiny is in your hands! Caroline Dowd-Higgins authored the book This Is Not the Career I Ordered and maintains the career reinvention blog of the same name ( www.carolinedowdhiggins.com ) She is also the Director of Career & Professional Development at Indiana University Maurer School of Law.

Read the full article →

Kuhn Joins Sikich Government Practice

June 2, 2011

AURORA, IL–(Marketwire – Jun 2, 2011) – Sikich LLP, a nationally recognized public accounting and advisory firm ( www.sikich.com ), announces that Gregory T. Kuhn, Ph.D. , has joined the firm as Director of Local Government Management Services. Kuhn will take over for Larry W. Maholland, CPA, who is retiring as of June 30, 2011.

Read the full article →

Georges Ugeux: Is Madame Lagarde the Ideal IMF Leader?

June 2, 2011

The extraordinary push and unusual consensus of the European Union on the candidacy of Madame Lagarde deserves some attention and maybe scrutiny. Being a lawyer and politician who ran a U.S. law firm in Chicago, Madame Lagarde is undoubtedly a very serious candidate. France considers the IMF top job as “theirs,” and has provided a succession of quite remarkable leaders of the IMF. Whether that means the next one should be French was “beyond reasonable doubt” for the Elysée Palace where Président Sarkozy rules. The fact that he or she should be European is part of a “deal” between the United States and Europe, whereby, at Bretton Woods in 1944, the World Bank goes to an American and the IMF to a European. That deal reflects the fact that, at Bretton Woods, the U.S. and Europe were alone to split the jobs. More than ever, this position is no longer defendable. The IMF, under the leadership of Dominique Strauss-Kahn, embarked in a co-financing process, together with the Eurozone, of the bail-out of Greece ($150 billion), Ireland ($130 billion) and Portugal ($120 billion). The Eurozone was indeed unable or unwilling to put on the table the full amount and is now in the unenviable position to have to call on the International Monetary Fund. The new Director General will have to represent the interests of all the members of the Fund in these negotiations. Is a European the best candidate to have the necessary objectivity and dispassionate view of the situation? One could also argue that Madame Lagarde is a crucial part of the negotiations that are taking place which could lead to a further $60 billion loan to Greece, which has not fulfilled its commitments. She supported the European Central Bank view that the Greek debt should be restructured, thereby protecting the ECB’s substantial portfolio of Greek bonds, as well as the European bank’s exposure to Greece. The IMF has always insisted on loans associated with strict application of its conditionality to pay the additional tranches. In this case, it departed from its sound and historical practice. Last but not least, with 43% of the capital of the IMF, the emerging countries are asking for more say and would be perfectly legitimate in requesting that seat for one of them. Agustin Carstens, the Mexican Finance Minister, is campaigning in their name. It seems that the United States, which stayed silent on the matter, will not support Madame Lagarde unless she gets some support from the key emerging countries. They are right. She was in Brazil starting a campaign. The G8 talked about it but, as he often does, Président Sarkozy pretended that it was not the place for such discussions. His Minister of Foreign Affairs, Alain Juppé, pretended that the candidacy of Madame Lagarde was agreed upon, contradicting the statement by Russian President Medvedev that there was a “near-accord” on the fact that an emerging market candidate would be considered. Prime Minister Manmohan Singh of India indicated to German Chancellor Merkel in Delhi that it was not the nationality that should define the right candidate. The reality is that the European attitude has literally infuriated the other countries who saw in it a sign of colonialism and arrogance. In France, Madame Lagarde is under investigation by the Court Supérieure de Justice for allegedly abusing her power in bypassing the procedure to grant $300 million for a former French Minister and businessman Bernard Tapie. The Court was established by President Mitterrand to investigate irregularities committed by Cabinet Members, in the exercise of their function. Those elements should at least require a serious look, for a candidacy that cannot be treated as ideal, without further consideration. This being said, as Patrick Stewart of the Council on Foreign Relations wrote today: “The apparent lesson of this episode is that while emerging powers are quite content to criticize existing global institutional arrangements, they do not yet constitute an effective bloc that can unite behind an agreed program of action.”

Read the full article →

AbTech Industries Appoints Industry Expert Skip Short as Director of Global Stormwater Sales

June 2, 2011

SCOTTSDALE, AZ–(Marketwire – Jun 2, 2011) – AbTech Holdings, Inc . ( OTCBB : ABHD ) is pleased to announce the appointment of Skip Short to the newly created position of Director of Global Stormwater. Mr. Short will be responsible for leading the company’s environmental technologies sales in the growing stormwater industry sector.

Read the full article →

Jennifer Di Francesco Named Director, Spa and Sports Club at Toscana Country Club

June 1, 2011

INDIAN WELLS, CA–(Marketwire – Jun 1, 2011) – Sunrise Company, developer and builder of America’s finest country club communities, announced today the appointment of Jennifer Di Francesco as Director of Spa and Sports Club at Toscana Country Club. With over 20 years of experience, Jennifer will be responsible for overseeing all operations in the Spa Bella Vita and Sports Club.

Read the full article →

Joint Statement by Sharp Electronics Corporation and Edward Mclaughlin

June 1, 2011

MAHWAH, NJ–(Marketwire – Jun 1, 2011) – Sharp Electronics Corporation (SEC) Chairman and CEO Kozo Takahashi and Edward McLaughlin today said that they have reached an agreement concerning Mr. McLaughlin’s decision to step down as President of Sharp Imaging and Information Company of America (SIICA) and as a Director of SEC. Mr. McLaughlin will assist in the search for his successor, which is now underway.

Read the full article →

Direct Insite Appoints Matthew Oakes Chief Executive Officer and Elects New Directors

June 1, 2011

SUNRISE, FL–(Marketwire – Jun 1, 2011) – Direct Insite Corp. ( OTCBB : DIRI ), a global SaaS provider of financial supply chain automation in support of accounts receivable and accounts payable business processes, today announced that Matthew E. Oakes has been appointed Chief Executive Officer. Mr. Oakes will also continue in his position as President. Mr. Oakes previously served as the Company’s President and Chief Operating Officer and prior to that as Executive Vice President-Client Services. He joined Direct Insite in 2002 as Director of Business Operations, Quality Assurance, Contracts and Administration.

Read the full article →

Sikich Announces Director of Not-for-Profit Tax Services

May 26, 2011

AURORA, IL–(Marketwire – May 26, 2011) – Sikich LLP, a nationally recognized public accounting and business advisory firm ( www.sikich.com ), announces that Andrew Twardowski, CPA , has been named Director of Not-for-Profit Tax Services.

Read the full article →

Beach Energy Limited (ASX:BPT) Appoints Ms Belinda Robinson As Additional Independent Non-Executive Director To Its Board

May 26, 2011

Beach Energy Limited (ASX:BPT) Appoints Ms Belinda Robinson As Additional Independent Non-Executive Director To Its Board

Read the full article →

Andy Plesser: BBC Global Digital Chief: The "ROI from Facebook is Staggering"

May 24, 2011

Social media is not a marketing solution but a “profit center” for the BBC’s commercial Web sites, says Daniel Heaf, Director of Digital for BBC Worldwide, in this exclusive interview with Beet.TV Facebook’s ROI for sites such as TopGear

Read the full article →

HFF closes sale of and arranges financing for office building in northwest Houston

May 24, 2011

      HOUSTON, TX – HFF announced today that it has closed the sale of and arranged financing for 4600 Highway 6 North (top left photo), a three-story, 53,037-square-foot office building in northwest Houston. HFF marketed the property on behalf of the seller, the Brookfield Real Estate Opportunity Fund, a division of Brookfield Asset Management.   Rockwell Management Corporation represented the buyer in the purchase of 4600 Highway 6 North for an undisclosed amount.   HFF arranged the acquisition financing through ViewPoint Bank.   Renovated in 2007-2008, 4600 Highway 6 North is 82 percent leased to tenants including JPMorgan Chase and the Attorney General’s Office.   The property is located between Interstate 10 and Highway 290 on State Highway 6 in west Houston. Brookfield Asset Management Inc., focused on property, renewable power and infrastructure assets, has more than $100 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and on NYSE Euronext under the symbol BAMA. www.brookfield.com. Rockwell is a full-service management firm that provides services in due diligence, construction, renovation, marketing, bookkeeping, property and asset management. The HFF investment sales team representing the seller was led by senior managing director Dan Miller (lower  right photo)  and associate director Trent Agnew .   The HFF debt team was led by associate director Colby Mueck. Contacts:     H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500,      M. Colby Mueck, HFF Associate Director, (713) 852-3500, cmueck@hfflp.com dmiller@hfflp.com Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500 krmurphy@hfflp.com           

Read the full article →

HFF Atlanta hires Andrew Seng as managing director in debt placement group

May 24, 2011

,                                                                                                                                   ATLANTA, GA – HFF announced today that Andrew Seng (top right photo) has joined the firm as a managing director in its Atlanta office.   Mr. Seng will focus on debt and structured finance transactions for all property types throughout the southeastern United States.    Prior to joining HFF, Mr. Seng was an executive vice president with First Fidelity Companies where he was involved in securing more than $1.6 billion in debt and equity investments for real estate projects across North America.   Prior to First Fidelity Companies, he worked as an investment analyst with the University of Notre Dame Investment Office and an investment associate with Putnam Investments.   Mr. Seng is a Chartered Financial Analyst, a member of the CFA Institute and CFA Society of Atlanta, and currently serves as vice-chair for membership of the urban development mixed-use council for Urban Land.   Mr. Seng received his Master of Business Administration degree from Goizueta Business School at Emory University and his Bachelors of Business Administration degree from the University of Notre Dame. “Andrew is a welcome addition to the Atlanta team and brings with him a wealth of experience in various types of financings across all major property types,” said Mark Sixou (lower left photo)r , senior managing director of HFF Atlanta. Contacts:    Mark D. Sixour, HFF Senior Managing Director, (404) 832-8460 msixour@hfflp.com Kristen M. Murphy, HFF Associate Director, Marketing,   (713) 852-3500                        krmurphy@hfflp.com                                              

Read the full article →

BWise Assigns Mikko Valtonen as Business Development Director Sustainability and EHS

May 24, 2011

NEW YORK, NY and ‘S HERTOGENBOSCH, THE NETHERLANDS–(Marketwire – May 24, 2011) – BWise, the global leader in Governance, Risk and Compliance ( GRC ) management software solutions, today announced that Mikko Valtonen has joined the BWise team as its Business Development Director for Sustainability and EHS. Mikko has more than ten years of experience in assisting global multinational enterprises create and implement sustainability strategies and processes. Mikko has played an integral part in clients having been selected among the top 100 most sustainable companies globally by the Davos group. His experience with Corporate Social Responsibility (CSR), GRI reporting and Environmental, Health and Safety (EHS) risk management projects is of great value and enriches the current BWise offering. It enables BWise clients to manage their sustainability performance as part of their business processes within the BWise platform.

Read the full article →

French See Dominique Strauss-Kahn As Victim Of Plot

May 22, 2011

PARIS — Forget what the New York prosecutor says about Dominique Strauss-Kahn. The doubters in France are legion and the country is abuzz with conspiracy theories. Did Strauss-Kahn bring on his own ruin at a luxury Manhattan hotel? Or did his political enemies in France set him up in a sinister plot to undo the known womanizer who was a top contender to become France’s next president? From the moment that Strauss-Kahn’s arrest for the alleged sexual assault of a chambermaid flashed around the world, doubts emerged in France. A week later, with evidence still under wraps and the accused and the accuser silent, speculation abounds. A poll Thursday suggested that a majority of French, 57 percent, think Strauss-Kahn was the victim of a plot. In a country where low blows pepper the political culture, where people think politicians will do almost anything to keep their perks and where President Nicolas Sarkozy’s approval ratings are sinking relentlessly, a plot against the increasingly powerful IMF chief seems plausible to many. “The trap, you cannot not think of it,” Cooperation Minister Henri de Raincourt conceded on Radio France International a day after the arrest. “But we must let justice follow its course without any prior assumptions.” Strauss-Kahn himself is reported to have voiced fears of a setup involving an alleged rape victim last month with a journalist. And then there are the precedents. Former conservative Prime Minister Dominique de Villepin is now in a slander trial that grew out of accusations he had wind of a dirty tricks campaign against Sarkozy in 2004 and failed to stop it. Sarkozy has said he believes the scheme was meant to upend his 2007 presidential bid. Doubts are still raised over the 1994 suicide, in his office at the presidential Elysee Palace, of the man considered former Socialist President Francois Mitterrand’s closest counselor, Francois de Grossouvre. And there are those who wonder, nearly two decades later, who really aimed the gun in the 1993 suicide of former Prime Minister Pierre Beregovoy. Strauss-Kahn’s fall from grace on May 14 was brutal. It came minutes before his trans-Atlantic flight for a meeting, as chief of the International Monetary Fund, with German Chancellor Angela Merkel. The 62-year-old Socialist who led popularity polls for next year’s presidential race insists he is innocent and has resigned from his job at the IMF to fight the charges. He was indicted by a grand jury on charges including criminal sexual abuse and attempted rape for allegedly attacking a 32-year-old maid, a West African immigrant, in his suite at the Sofitel. Strauss-Kahn is now under house arrest in Manhattan, watched by armed guards and tracked with an electronic bracelet, as he prepares his defense. The French press and Internet forums are flooded with questions from those who suspect a setup or are true believers in his innocence. _ Why would he call the hotel from the airport to recover a forgotten cell phone if he was guilty? _ Why not simply arrange for a female companion rather than assault a maid? _ Why would a maid enter Strauss-Kahn’s presidential suite unaccompanied? “At this stage of the investigation, the hypothesis of a manipulation cannot be swept aside,” sociologist Michele Fize wrote in Sunday’s Le Monde newspaper. Le Monde also quoted the director general of the top French firm handling housekeeping in luxury hotels as saying a maid could be fired for entering an occupied room alone. Luxury hotel maids know the protocol: knock, wait, announce oneself, knock again, open the door slightly, said Marie-Francoise Litaudon of the Francaise de Service Group. Socialist allies thought they saw bids to damage Strauss-Kahn’s image weeks before the arrest, when paparazzi arrived in April to photograph him getting into a flashy Porsche. It wasn’t his car, it belonged to a friend, but that elitist image won’t sit well with Socialist voters. That was followed by an allegation in the France-Soir newspaper that Strauss-Kahn wore $35,000 suits. “There is a campaign against the personality of Dominique Strauss-Kahn,” Socialist lawmaker Jean-Marie Le Guen told Europe-1 radio only hours before the Frenchman was arrested. A journalist for the left-leaning newspaper Liberation said the politician himself foresaw dirty tricks in the upcoming presidential campaign and confided in an off-the-record meeting April 28 the three obstacles he faced: “money, women and my Jewishness.” “Yes, I love women … So what?” journalist Antoine Guiral quoted him as saying. Strauss-Kahn even predicted one possible line of attack against him – “a woman raped in a parking lot who has been promised 500,000 or a million euros to invent such a story,” Guiral quoted him as saying. A poll by the CSA firm showed that 57 percent of 1,007 adults questioned at their homes believed Strauss-Kahn was “certainly” or “probably” the victim of a plot, compared to 32 who felt this was “certainly” or “probably” not true. Those polled May 16 were of all levels of education, it said. No margin of error was provided but it would be plus or minus 3 percentage points for a poll of that size. Bruno Cautres, an analyst at CEVIPOF, a think tank of the prestigious school Science Po where Strauss-Kahn taught for years, says the enormity of the affair and the wave of “this is impossible” remarks by Socialist Party figures may have colored national opinion in favor of a plot theory. “Whatever the country, there will always be those who believe in a plot (to explain) a dramatic phenomenon,” he said. “That is a natural tendency because this phenomenon seems unexplainable and we seek explanations.” Strauss-Kahn’s reputation as a successful womanizer makes an alleged sexual assault even less credible because he had ample access to willing women, doubters say. The French barely shrugged when the IMF investigated Strauss-Kahn for a 2008 affair with an employee then absolved him of wrongdoing. “We have a political culture by which we will pardon a lot of politicians for behavior in private life and not necessarily make the equation that bad behavior in private life equals bad behavior in political life,” said Cautres. Cautres himself dismissed the notion of a plot. “Who would organize it … given the risk of a leak, of a spectacular revelation?” he asked. However, Strauss-Kahn’s defense team will surely be looking for that “banana peel” that centrist politician Dominique Paille suggested may have been strategically dropped. What about that tweet on Strauss-Kahn that set off a frenzy in France from a Science Po masters student who belonged to the youth wing of Sarkozy’s conservative UMP party? “A pal in the United States just let me know that DSK was arrested by police in New York an hour ago,” Jonathan Pinet tweeted at 22:59 p.m. Paris time (2059 GMT, 4:59 p.m. EDT) on May 14. The timing would be shortly after Strauss-Kahn was escorted off on an Air France plane in New York. Rejecting any conspiracy ties, Pinet later explained his information came in a Facebook chat with a friend who has another friend who works at the Sofitel in New York – and who likely mistook the happenings there hours earlier for the actual arrest.

Read the full article →

Antonia Juhasz: Chevron’s Shareholders Should Say No to Offshore Drilling

May 20, 2011

Next week, Chevron — California’s largest corporation and the nation’s third largest — holds its annual shareholder meeting in San Ramon. The gathering will be met by protesters, including those who will travel from Angola, Nigeria, Canada, Alaska, and the U.S. Gulf Coast to demonstrate against Chevron’s deep-sea operations and to deliver a new report to the company: The True Cost of Chevron: An Alternative Annual Report . At the meeting, Chevron will ask shareholder permission to pursue an aggressive expansion into ever-deeper offshore operations. Chevron’s role in the aftermath of BP Deepwater Horizon disaster, and investigations finding systemic problems within the entire offshore industry, should give both its shareholders and the broader public great concern about the safety of this expansion. Chevron is well aware of the dangers. As the company writes, “Navigating uncertain weather conditions, freezing water and crushing pressure, deepwater drilling is one of the most technologically challenging ways of finding and extracting oil.” On April 20, 2010, the Deepwater Horizon drilling rig exploded 50 miles off the coast of Louisiana, killing 11 men and igniting what would become the largest unintentional oil spill in world history. A massive underwater blowout at BP’s Macondo well 18,500 feet below the ocean surface was the immediate cause. Within weeks of the blowout, a horrifying fact was revealed. Not a single major oil company, including Chevron, knew what to do in response, nor did government regulators. All knew that a blowout was likely, but none had developed the technology, much less the equipment, with which to address it. Blowouts have been on the rise in the Gulf of Mexico. From 2005 to 2010, 28 blowouts occurred in the Gulf of Mexico, four of which took place in the 18th months preceding the blowout of the Macondo well. From 1999 to 2004, there were 20 blowouts, and from 1993 to 1998 there were just 11. Moreover, deaths, fires, and serious injury in the Gulf of Mexico are common. For example, a Chevron offshore worker has been killed on the job in four out of the last five years (2006, 2008, 2009, 2010) in the Gulf of Mexico. In 2009 alone (the most recent year data is available), Chevron reported 15 incidents of fire and nine employee injuries at its Gulf of Mexico offshore operations. In just the five years before the Deepwater Horizon exploded, federal investigators documented nearly 200 safety and environmental violations in accidents on platforms and rigs in the Gulf. While BP lead the others with at least 47 accidents or blowouts, Chevron was a very close second at 46, and Shell had 22. Instead of preparing for a deepwater blowout, however, in the words of the President’s National Oil Spill Commission , every major oil company “learned on the fly” for 87 long days. They tried to apply shallow water technology applicable to wells at 400 feet below the ocean surface or less, to a well 5,000 feet below. While they learned, 210 million gallons of oil were released into the Gulf. Once the oil was released, we learned that no company, including Chevron, had invested any significant dollars into cleanup research or preparedness, although all were required to do so under the 1990 Oil Pollution Act. Ships to contain the oil were not ready, nor were adequate boom or skimmers to protect the shore. And while all of their applications to drill deepwater wells state their preparedness for even much larger oil spills than that at the Macondo, the companies were not prepared. Instead, they applied the same failed technology that had recovered just 14 percent of the oil spilled in the Exxon Valdez disaster over 20 years earlier to the Macondo well gusher. The failures that led to the explosion, moreover, were in no way limited to just BP. While BP was the leasee of the Deepwater Horizon, Transocean was the owner and operator. All the major oil companies use Transocean’s services, including Chevron. However, since 2008, 73 percent of incidents that triggered federal investigations into safety and other problems on deepwater drilling rigs in the Gulf have been on rigs operated by Transocean. Chevron, the largest leaseholder in the Gulf of Mexico, is pushing the limits in these operations. It’s latest project, Moccasin , is situated 216 miles offshore Louisiana, at a water depth of 6,750 feet — over 150 miles farther out from shore than the Macondo and 1,750 feet further below the ocean surface. Initial drilling began in March 2010 by Transocean’s Discoverer Inspiration drill ship. Professor Robert Bea, head of the Deepwater Horizon Study Group at the University of California, told me of the group’s final findings (not yet released): “We have come to a unwavering conclusion. This is an industry problem. It is not just BP. BP just got to the finish line first. They know this is an endemic systemic problem.” If we do not want Chevron to follow, Chevron’s shareholders must demand the same protections provided here in California — a moratorium on offshore drilling — be provided nationally and, if possible, internationally as well. Antonia Juhasz is the co-editor of The True Cost of Chevron: An Alternative Annual Report , to be released May 24, 2011. She is author of Black Tide: the Devastating Impact of the Gulf Oil Spill (Wiley 2011) and Director of the Energy Program at Global Exchange, a San Francisco-based human rights organization.

Read the full article →

Park Sterling Corporation Expands Its Business Line in Growth Markets With New Hire

May 20, 2011

CHARLOTTE, NC–(Marketwire – May 20, 2011) – Park Sterling Corporation ( NASDAQ : PSTB ), the holding company for Park Sterling Bank, announced today the hiring of David L. Shelnutt, formerly Director, Monitored Credit Group for Carolina First Bank. Mr. Shelnutt, overseeing a team of veteran bankers, will lead the newly formed Asset Based Lending (ABL) business, which will operate out of Greenville, South Carolina.

Read the full article →

Chai Society Lunch – Mr. David Rifkind

May 19, 2011

David Rifkind, Bio Principal Managing Director, George Smith Partners , Inc. Mr. Rifkind is responsible for leading the operations and strategic platform at George Smith Partners , Inc. A long-time Real Estate Finance …

Read the full article →

Board Selects Ruelle to Succeed Moore as CEO

May 19, 2011

CFO Ruelle Becomes President, Director; Moore Announces Plan to Retire

Read the full article →

Queensland Mining Corporation Limited (ASX:QMN) Appoints Brian Rear As Non-Executive Director

May 19, 2011

Queensland Mining Corporation Limited (ASX:QMN) Appoints Brian Rear As Non-Executive Director

Read the full article →

Elizabeth Warren Simplifies Mortgage Forms

May 18, 2011

The Consumer Financial Protection Bureau advanced its overhaul of annoying, incomprehensible mortgage forms on Wednesday in its first regulatory maneuver since the agency was created by last year’s financial reform bill. The CFPB rolled out two prototypes for a single, streamlined form to replace two complex and overlapping forms used by consumers to help gauge the real costs of their mortgage. The new regulator, which hopes to have a final form ready by September, is asking consumers to provide feedback on the forms online and is conducting in-person tests and interviews about the forms in six cities. Consumer advocates and both community and Wall Street banks have lobbied for the change for years. Banks complain that it makes no sense for them to have to deal with two forms that carry the same basic information, while consumer advocates bemoan the fact that the forms aren’t actually very helpful to consumers. “The new forms — they look good,” said Ron Haynie, President and CEO of the Independent Community Bankers Association’s mortgage group, which lobbies on behalf of small, community banks. “This moves in a direction that makes sense,” said Bob Davis, Executive Vice President of Mortgage Finance for the American Bankers Association, which represents banks of all sizes but traditionally places a heavy emphasis on the interests of big banks. “Our bankers thought this was a positive step.” Ira Rheingold, Executive Director of the National Association of Consumer Advocates also praised the new forms. “They’ve really got the right idea.” “You want consumers to actually be able to shop around for a mortgage,” Rheingold said. “This information has to give consumers a legitimate view of the costs of the mortgage — and that doesn’t really exist today. The [current] forms are fairly incomprehensible, there’s all sorts of numbers in there, and you can’t tell what’s important and what’s not.” Once the new form is finalized, bankers may eventually begin butting heads with borrowers over its legal status. Currently the disclosure forms are not legally binding documents and banks could present the borrower with different final terms than the one outlined in the documents. But consumer advocates want the new forms to be a legally binding offer. But for now, at least, both consumer advocates see this as a good sign of things to come. Ed Mierzwinski, Director of the U.S. Public Interest Research Group’s Consumer Program said CFPB’s early testing process suggested the agency “has new ideas, not only about making disclosures better, but about making the regulatory process better for both buyers and sellers.” Elizabeth Eurgubian, Vice President and Regualtory Counsel for the ICBA added, “This process thus far has been a lot better for banks and for lenders than the previous processes have been, and the banks appreciate being brought in.” Take a look at the new prototypes here and here . And compare them to the old forms here and here .

Read the full article →

Meredith Bagby: Debt Ceiling: The Sky’s Not Falling — Yet

May 17, 2011

It’s official. As of Monday, May 16, the United States of America has reached its debt limit ( $14.294 trillion ). That means that the Treasury Department can no longer borrow money to pay the debts or meet the expenses of the U.S. government. You may say, wait, the sky didn’t fall. People are not running in the streets in chaos. The stock and bond markets haven’t crashed. I had my latte this morning and it was delicious. So what’s the big deal? The reason those things haven’t happened (yet) is thanks to Treasury Secretary Timothy Geithner. Geithner sent a letter to Congress on Monday explaining how he is able to “move money around” and keep things running until August 2 . He’s “fudging” the debt constraints right now by “suspending investments in federal retirement funds.” Depending on the level of U.S. government expenses, he may also have to pay just interest due to bondholders (rather than principal) — and generally pick and choose which debtors to pay off and which to put off — on a day-to-day basis. This strategy, said Geithner, is akin to a homeowner who pays his mortgage at the expense of his car loan and credit cards. While the sky isn’t falling today, or even this week, Geithner says that he can’t keep this juggling act up forever. In his letter to Congress, he wrote that we must “increase the debt limit in order to protect the full faith and credit of the United States and avoid catastrophic economic consequences for citizens.” Fifty-six percent of Americans agree with this prognosis, according to a POLITICO-George Washington University Battleground Poll. If the debt ceiling is not raised — at a minimum — “our bond market and stock market would crash,” said former Congressional Budget Director Rudolph Penner . It’s hard to imagine what a maximum would be. Despite this looming disaster, it doesn’t seem like Congress is in too big a hurry to do anything about it. Quite the opposite: Tea Partiers and many Republicans are hoping that this coming financial apocalypse will force the Democrats to make big cuts fast to the U.S. budget. Speaker John Boehner said in response to Geithner’s plea: “There will be no debt limit increase without serious budget reforms and significant spending cuts — cuts that are greater than any increase in the debt limit.” And Senate Minority Leader Mitch McConnell threatened that he would not vote for an increase in the debt ceiling without “serious” reforms to entitlements like Medicaid and Medicare. Meanwhile, Democrats argue that any solution must include raising tax revenue — a position that Republicans have said is unacceptable. Democratic House leaders are in New York this week meeting with Wall Street execs, to present their vision of deficit reduction. (Speaker John Boehner met with Wall-Streeters last Monday.) Meanwhile in D.C., Vice President Joe Biden is leading a bipartisan, bicameral panel charged with coming up with long-term deficit solutions — even as House members are on recess. The difference, of course, between Democrat and Republican strategies, is that the Republicans are willing to drive this game of chicken all the way off the cliff if they don’t get what they want. We learned this in the last round of budget negotiations in April — and that’s a difficult position with which to negotiate. Democrats are full of warnings, but they are willing to negotiate. Republican are full of threats and they’re willing to pull the trigger. Will we get a compromise? As of today, the bond markets haven’t collapsed. Neither has the stock market. Most well-respected financial analysts are betting there will be an accord. But — given this year’s tough budget negotiation — maybe the question we should be asking is: at what price?

Read the full article →

Georges Ugeux: Dominique Strauss Kahn Arraigned: The European and Global Impact

May 16, 2011

The recent events surrounding Dominique Strauss Kahn are a tragedy and will have a major impact at many levels. From my perspective, I see several levels of consequences: For the International Monetary Fund: the loss of the leadership of Dominique Strauss Kahn is heavy. His deputy, John Lipsky, is an American economist, who had indicated his desire to leave the Fund. He does not carry the weight of DSK, who is a politician and a leader of international dimension. Dominique could speak to the heads of states and governments in a strong and credible manner. Whether it was in discussions with Europe, the United States or China, his positions were important and meaningful. Replacing him won’t be easy: it seems doubtful that his successor could necessarily maintain the European (and French) monopoly of this function. For developing countries that rely on assistance from the IMF to get out of hard times and need assistance to get their economies back in shape, sometimes painfully, the impact is devastating. Several countries are the beneficiary of this assistance around the world: the IMF is irreplaceable in this area. It is to help these countries that the IMF has been created. For Europe, the risk is significant. The internal debate that divides the advocates of debt restructuring of the countries in difficulty, to begin with Greece and those who prefer to increase the assistance to Greece (including Greeks and the European Central Bank) they had a referee: the IMF and its Director General. The manner in which the IMF intervenes in similar problems is tough and its method to lend only if the milestones of the needed reforms are implemented is essential. Will this voice be as powerful without DSK? The IMF has a high quality staff but it requires leadership and vision as well. France did not need this kind of scandal to tarnish its image. She loses a key global leader and one of the best candidates for its presidential elections. He represented a chance to finally have a President who can lead the reforms that the country needs with real international experience. This departs from what has sometimes been a hexagonal foreign policy of the French Republic. The most urgent problem is obviously the situation of Greece and other countries in difficulty in the Eurozone. The fragility of the Eurozone did not need such a disturbing event. Investors were already worried, and confidence is fragile. Anything could set fire to the powder and provoke a crisis of global amplitude. Finally, allow me a personal reflection. It is always with great sadness that I see a man falling down. I have known DSK for many years and often admired him for his courageous action in the world of international finance where few leaders had his stature and his authority. His leadership will be missed.

Read the full article →

Cardiac Network Changes Board of Directors and Principal Officers

May 16, 2011

SAN FRANCISCO, CA–(Marketwire – May 16, 2011) – Cardiac Network, Inc. ( PINKSHEETS : CNWID ) confirms the announcement made on May 9 th , 2011 that a new Board of Directors had been voted in by a majority vote of the company’s stockholders. The new Board Members are: Chairman of the Board Malcolm Gulden, Secretary of the Board Brian Calhoun, and Director Richard Owens. Cardiac Network’s former CEO and President Michael Swartzburg has stepped down to pursue other interests, the Board of Directors designated new corporate executive officers. Malcolm Gulden has taken over the role of Chief Executive Officer, and Brian Calhoun has assumed the position of President, in order to focus the company’s expansion, revenues, and new strategic initiatives.

Read the full article →

Encompass Lighting Group Strengthens Management Team to Support Growth of Tech Lighting and LBL Lighting Brands

May 16, 2011

Promotes Josh Weiss to Vice President, General Manager of Tech Lighting; Hires Marketing Veteran Tiscia Eicher as Director of Marketing for Tech Lighting and LBL Lighting

Read the full article →

Caroline Dowd-Higgins: Convene Your Personal Board of Directors

May 13, 2011

It’s no secret that a mentor can be a terrific resource as you navigate your career path. The “it takes a village” philosophy is a great way to tap multiple mentors at once and develop your personal resource team. Why get stressed about growing, managing, or navigating your career path alone when you can utilize the wisdom of others who want to help you move forward? From entry-level job seekers to seasoned professionals, everyone can benefit from a personal Board of Directors. Think about the people you can ask to be on your resource team who can assist with career strategies, special training, or network building. Your personal career posse can help when you need it most and be a valuable resource outside of your workplace for you to confide in. Here are some ways people can serve on your Board since a variety of people will perform different functions. Accountability Master — this person will hold you to task and give you the gentle (or not so gentle nudge) to get you moving towards your goal. They will help you navigate your blind spots and provide honest constructive criticism when you need it most. This person can also help you step out of your comfort zone to take a risk and embrace change. Motivator — this person will be your cheerleader and provide support and inspiration even when the going gets tough. Your enthusiasm may wane with stress and lack of focus but your motivational Board member will give you a renewed sense of energy and help you play to your strengths. Trainer — perhaps you have been promoted to a new leadership role at work but have never supervised a team, for example. This Board member has significant experience as a leader and can advise and counsel you with best practices. If you don’t have that skill set available from one of your volunteer Board members, then consider hiring an Executive Coach who specializes in leadership training to get you into shape to take on your new professional responsibilities. No matter what the unique competency, a variety of trainers can be an asset as you grow your career and take on new roles. Connector — if you are in transition, interested in growing your career, or just wanting to learn about a career different from your own, chances are your connector will know someone you should meet. This person has a vast network and can make introductions on your behalf for informational interviewing, job shadowing, and other professional referrals. You should have multiple connectors on your Board because these people are in-the-know and current with industry trends and organizational practices. They know the scoop! Strategist — you need a visionary who will help you map out your big picture career path and assist you with implementing a plan to achieve those goals. This person can also be a great resource when problem solving or handling difficult scenarios at work. Proofer — whether you are sending out a resume, cover letter, or portfolio for new job lead, have someone proof you work before you push send. We get so close to our materials that it’s easy to miss things and your detail oriented proofer can catch mistakes that could be a deal breaker if left unnoticed. This person with laser focus can also help you with the small and important details you must work on in your career action plan. Specialist — in many cases this is an area where you are going to hire a professional like a web designer, public relations expert, accountant, or lawyer because you need someone with specialized experience to help you accomplish your goals. It’s worth it to invest in these services from accomplished professionals who have proven their worth through recommendations and examples of their work. It’s not unheard of to have Board members who will provide these services pro bono but it is rare. You may also consider your health care providers and other mind/body/spirit professionals to help you navigate your journey with a team. Having a Board makes you conscious that personal and professional development is a lifelong process and that your needs change over time. Your Board should be filled with people who can advise you as certain needs arise. While there may be a unique time to convene them as a group, most often you will seek them out individually for their particular advice. It’s all about knowing who’s got your back when you need it most. Be sure to steward your Board by showing your appreciation for their expertise regularly. Whenever possible, pay-it-forward and ask how you can be of service to them. Keep the circle of wisdom continuous by serving on someone else’s Board – you will be glad you did! Check out my new video segment about Assembling Your Board of Directors. Caroline Dowd-Higgins authored the book “This Is Not the Career I Ordered” and maintains the career reinvention blog of the same name ( www.carolinedowdhiggins.com ) She is also the Director of Career & Professional Development at Indiana University Maurer School of Law.

Read the full article →

John Ryan Announces New Hire in Digital Signage Products Group

May 12, 2011

Eduardo Paulo Named Director of User Experience

Read the full article →

AMERICAN SYSTEMS Appoints Chris Braccio Vice President of Human Resources

May 9, 2011

Former Director of HR Operations Promoted to Lead Strategic Human Capital Functions, Charitable Programs

Read the full article →

Mike Lux: Democrats and Wall Street

May 6, 2011

The Republicans in the Senate have thrown down the gauntlet: 44 Republican senators have signed a letter saying they won’t confirm anyone — anyone at all — to be the director of the new Consumer Financial Protection Bureau unless the new agency is made toothless. It is this kind of way-over-the-top overreaching that has hurt Republican governors like Walker and Kasich so badly because of their attempt to wipe out public-sector unions, and has made the Ryan budget the most unpopular bill in front of Congress in years. When you are so clearly willing to do everything the Wall Street bankers could ever ask, you paint a very big target on your back. Democrats should seize this opportunity and strike while the iron is hot, just as they did in standing up to Walker, Kasich, and Ryan. Being willing to stand tall and fight back against those unpopular right-wing policies, and the moneymen behind them like the Koch brothers, has already paid off enormously for Democrats. Just think how picking a fight with the most unpopular entity in America (now that Osama bin Laden is dead) — the big banks on Wall Street — could help them politically. The President should immediately announce he is appointing Elizabeth Warren as director of the CFPB, and when the next recess comes, immediately put her in as a recess appointment. There is no longer any reason not to, because the Republicans gave us our opening: if they are going to oppose anyone no matter how weak in that job, there is no reason to offer a compromise candidate. Obama should just give it to the person who would be the best director, which Elizabeth would clearly be. Having a big blow-up with Republicans, with us fighting for consumers and homeowners and them fighting for the banks, would be a great political fight to have. I suspect at the end of the day, that will be the conclusion the Obama team comes to as well, although they are taking their own sweet time on this CFPB decision. And their options of who to appoint got narrowed a lot by that Senate GOP too. The White House already has had several feelers rejected by candidates who didn’t want to be seen as taking the job Warren should have, which is a big factor in making Elizabeth’s appointment more and more likely. The bottom line is that this letter probably just sealed the deal for her getting the job, so we can once again thank overreaching Republicans for helping get something good done. Unfortunately, though, this rather obvious notion of picking fights with incredibly unpopular Wall Street bankers isn’t a universally held Democratic strategy. Take a look at the dynamics on a couple of other fronts. The first example is how the swipe-fee issue still has some Democrats being dumb in their politics. I got involved in this issue during last year’s financial-reform battle, forming a rather unusual (okay, extremely unusual) alliance with retailers and merchants. Dick Durbin offered an amendment that would require the Federal Reserve to provide some regulation of debit card swipe fees so that the big banks who thoroughly dominate this market (Visa and MasterCard, which are subsidiaries of the big banks, represent more than 80 percent of the debit card market) couldn’t just charge whatever outrageous swipe fees they wanted to every small businessperson and non-profit group that let customers use debit cards. The politics of this issue seemed easy to me: the Big Banks vs. Main Street Businesses and Consumers. And it was easy the first time around: when Durbin offered his amendment 63 Senators voted for it, including some Republicans. But the big banks have a ton of money, lobbyists, and muscle — and they keep chipping away at this. They have convinced a lot of Democrats to go over to their side. An organization I chair, American Family Voices , recently came out with and ad that got some notice because it targeted some Democrats, including DNC chair Debbie Wasserman Schultz. But if Democrats took the side of small businesses and consumers, and left helping Wall Street bankers to Republicans, the politics of this issue would be a lot cleaner. The second issue is the foreclosure fraud issue. The big banks have run roughshod over hard-pressed homeowners, abusing the foreclosure process to the point where they have had a series of court decisions go against them. The 50 attorneys general and multiple federal agencies have been negotiating with the big banks on this issue, but the Obama administration has been way too weak in helping underwater homeowners press for mortgage write-downs. The administration refused to issue a moratorium on foreclosures in spite of all the problems with the banks that were handling them, Treasury’s HAMP program has been a disaster, and the administration’s acting head of the critically important OCC regulatory agency has been completely in bed with Wall Street bankers on housing and many other issues. The Obama administration should be taking on the big banks on foreclosures, not coddling them. I am a Democrat because our party has historically been on the side of middle-class workers, homeowners, consumers, and small businesses against wealthy special interests like Wall Street bankers. Politically and policywise, we should be clearly, cleanly, and strongly on the side of the former, and not confuse voters by straddling both sides of the issue. I will always be a Democrat because we are the only party that would ever appoint someone like Elizabeth Warren to office, or pass legislation like the CFPB and swipe-fee regulation, but when we waver on these kinds of things, we lose our way politically as well. It is time for Democrats to take a clear side for the middle class, and let the Republicans choke on having to be on Wall Street’s side.

Read the full article →

Rogerscasey Hires Director for Alpha Team

May 3, 2011

DARIEN, CT–(Marketwire – May 3, 2011) – Rogerscasey, a global investment solutions firm serving institutional asset owners and financial services firms, announces that Hilary Wiek has joined the organization as a Director within the firm’s Alpha Investment Research Group, effective May 9, 2011. Wiek joins the Global Equity team, and will help to lead Rogerscasey’s efforts in identifying best-in-class Global Equity, U.S. Equity, and Non-U.S. Equity managers.

Read the full article →

Sierra Desert Holdings Separates With Terrax

April 29, 2011

GARDNERVILLE, NV–(Marketwire – Apr 29, 2011) – Sierra Desert Holdings Corporation ( PINKSHEETS : BRZM ). As of December 31, The Company failed to meet the funding obligation it had with Terrax. This has forced the company to unwind all agreements with Terrax. As a result of the unwinding, Murray Owen has resigned his position as COO and Director of Sierra Desert Holdings.

Read the full article →

Harvard University Announces Appointment of Gordon Jones as Director of Harvard Innovation Lab

April 29, 2011

BOSTON, MA–(Marketwire – Apr 29, 2011) – Gordon S. Jones has been named the inaugural Director of the Harvard innovation lab , a new and innovative initiative set to launch in late 2011 that will foster team-based and entrepreneurial activities, and provide a forum, both physically and virtually, for interactions among students, faculty, alumni, and the surrounding community. Located at 125 Western Avenue in Allston, which formerly housed the WGBH-TV offices and studios, the innovation lab will complement Mayor Thomas M. Menino’s Innovation agenda and help revitalize Western Avenue.

Read the full article →

Steve Blank: Stanford’s Hottest Student Startups Furiously Work to Iterate and Pivot

April 28, 2011

The Stanford Lean LaunchPad class was an experiment in a new model of teaching startup entrepreneurship. With one week and one more updates to go, this post is part seven. Parts one through six are here , Syllabus is here . With a week to go the teams are starting to look like opening night before the big play. Teams are iterating and pivoting right and left, one team threw their entire business model out the window and did a complete restart, and another team was having a meltdown over personalities. Week seven of the class Last week the teams were testing their hypotheses about their Channel (how a company delivers its value proposition (i.e. its product or service) to its customers. This week they were testing their hypotheses about Revenue Models: what are customers really willing to pay for? How? Are you generating transactional or recurring revenues? Is it a multi-sided market, and if so who’s the user versus who’s the payer? The Nine Teams Present The first team up was PersonalLibraries the team making a (reference management system for discovering, organizing and citing researchers’ readings). Oops. No more. The team looked at the potential revenue and concluded that the outlook for this business with this customer segment was dismal. They decided to do something more dramatic than just a Pivot. They did a restart. They moved from “Reference Libraries” to “Product Libraries” — an online social shopping system. (If this had been a real startup rather than a class we would have had the team test many more variants on customer segment, revenue models, channels, etc before such an extreme move.) They quickly came up with a new business model canvas, value proposition and customer segment. The team hasn’t been getting much sleep as they have a week and a half to make meaningful progress. Lets see what they can pull off. To see the slides, click here . Autonomow , the robotic farm weeder, had a busy week. In talking to their sales channel (farm equipment dealers) and customers (organic farmers) they realize they have an opportunity to come up with a unique revenue stream. Instead of selling or leasing the equipment they are going to charge for leasing according to weed density in the farm fields . The denser the weeds, the higher the rental price per day. Customers and dealers agree that it’s a fair deal. Wow. On the way to the WorldAg Expo their Carrotbot (their research platform they built to gather data for machine vision/machine learning) hit the farm fields near Avenal , California. The videos of the robot in the field were priceless. CarrotBot hits the ground Where are we? At the World Ag Expo in Tulare the team encounters its first potential competitor — “Robocrop.” (No kidding, I couldn’t make this up.) The Robocrop Precision Guidance System for row crop cultivators uses a camera to shift a hitch so cultivators can cut very close to the plant rows and the Robocrop InRow is a robotic weeder. To see the slides, click here . The next team was D.C. Veritas , the team building a low-cost wind turbine for cities and utilities. Last week the team pivoted and their wind turbine is now embedded into street and highway light poles. This week the D.C. Veritas team put it into overdrive and did mass interviews of city officials across the United States. In Palo Alto they talked to the financial and utilities mangers. In Williamstown, West Virginia, they spoke to the city planner and a member of the budget committee. In Oklahoma City, Oklahoma, it was the city engineer and director of public works. In Amarillo, Texas, they had interviews with the head of the bidding process, the Street light manager, Director of Public Works and the utilities engineer. They quickly got a good handle on the canonical project approval process inside a city. They combined their understanding of the city approval process with the data they gleaned from customer interviews and developed preliminary archetypes . These represented the different customers in the approval cycle inside a city. To see the slides, click here . Agora Cloud Services The Agora team, (a marketplace for cloud computing), (a relative island of calm in a turbulent sea of other teams) now believed their business was providing a tool set for managing Amazon Web Services cloud compute usage. They believed they could build tools that would save customers 30% of their Amazon bill by providing service matching, capacity planning and usage monitoring and control. The team was a paragon of steady and relentless progress. They had another four interviews with potential customers and consultants. To see the slides, click here . The Week 7 Lecture: Partners Our lecture this week covered partners. Which partners and suppliers leverage your model? Who do you need to rely on? Our assignment for the teams for next week: what partners will you need? Why do you need them and what are risks? Why will they partner with you? What’s the cost of the partnership? What are the benefits for an exclusive partnership? What are the incentives and impediments for the partners? To see the slides, click here . —— The pressure was on. The other five teams were also furiously iterating and pivoting. The JointBuy team (the one that sent out 16,000 emails last week) realized that the low-fidelity website they used to test key concepts needed to get real to attract buyers and sellers in volume. The team pulled a week of all-nighters and turned the wireframe prototype into a fully functioning site . In almost every entrepreneurship class with a team project there’s a team that can’t figure out how to work together. These are the same problems one sees in real startups (disagreements over who controls the vision, team members not pulling their weight, disillusionment with the team direction, individuals uncomfortable in rapid decision making with less than perfect data, etc.) We give the students an escalation path if they’re having interpersonal problems (mentors — to teaching assistant — to professors) to see if they can first work through the issues without our intervention. While these are always painful we try to teach that they are part of the learning process. Better you encounter the problems in a classroom than after you raised a venture round. At this point in the class almost all the teams are in a full sprint to the finish line. Next week, the last lecture. Then the final presentations. Steve Blank’s blog : steveblank.com

Read the full article →

Parsons Appoints Russell as Vice President and Director of Contracts and Procurement, Operations Shared Services

April 28, 2011

PASADENA, CA–(Marketwire – Apr 28, 2011) – Parsons is pleased to announce that Avis Russell has joined the firm as Vice President and Director of Contracts and Procurement, Operations Shared Services (OSS). In this role, she will be responsible for supporting all Parsons global business units served by OSS as well as for managing contract formation and procurement activities and contract administration work.

Read the full article →

Local Splash Welcomes New Director of Customer Service

April 28, 2011

Andrea Beidl Joins the Local Splash Family as Director of Customer Service

Read the full article →

Barco Uniforms(TM) Names David Murphy Senior Vice President of Sales and Marketing

April 27, 2011

John W. Cable Joins Barco Uniforms as Director of Production and Toni S. Lee Added as Senior Product Development Manager

Read the full article →

Steve Mariotti: Remembering Ayn Rand

April 21, 2011

I am the founder of the Network for Teaching Entrepreneurship (NFTE) and I would like to share my personal memories of Ayn Rand and the effect she and her work had on my life, which provide interesting sidelights on the legendary founder of Objectivism. It took me two months to read all 1069 pages of Atlas Shrugged in 1967, as a 14-year-old. Rand’s famous novel was sent to me by my grandfather, Lowell B. Mason, who was Ayn’s friend and advisor. Reading it was what made me want to be an entrepreneur. Featuring an inspirational hero who was independent and could get things done, Atlas Shrugged was the first work of fiction I had ever read that talked positively about entrepreneurs and the wealth they created. It eventually motivated me — as a 9th grader in Flint, Michigan — to move to New York and start a business. So here is my story. I met with Ayn Rand three times, beginning on Memorial Day of 1980, and our correspondence continued through mid-January of 1982, two months before she passed away, on March 6th. Our last meeting was right before her trip to New Orleans, in the fall of 1981, where she spoke at my friend Jim Blanchard’s convention on investments. Jim was the top expert in the world on gold investment, and he got Ayn to be the featured speaker by arranging for a private train car for her trip. My appointment on Memorial Day in 1980 was at 11 in the morning. I was overdressed for the weather, and sweat streamed down my face as I walked around the block at 34th Street and Lexington Avenue, putting off the meeting with my role model. Despite her well-known inaccessibility, Ayn Rand had agreed to meet me, a 26-year-old entrepreneur, through a connection with my grandfather, a famous libertarian lawyer who had worked with Clarence Darrow in the Depression. Now, procrastinating, I could barely breathe. I was exhilarated and terribly nervous. She was a great hero of mine; I had memorized large parts of Atlas Shrugged . However, I would find out that the Ayn Rand I had fantasized about was not the Ayn Rand I was about to meet. I finally went into the lobby of the Tudor-style building at 128 East 34th Street, and rang the bell for apartment 6D. (The name on the directory was O’Connor — Frank O’Connor, her husband, had recently passed away.) “I never agree to meet with anyone,” were her first words. And then: “You’re right on time. That tells me something about you. Your grandfather Lowell has been my close friend since I started writing The Fountainhead. He gave me good advice on some legal issues. His Language of Dissent was brilliant,” she continued, pointing to the copy on a bookshelf. “Otherwise I would never have agreed to see you. I am old and do not have the energy.” She wore a black dress that came to just below her knees, and her hair was pulled back and up. She made a point of standing beneath a topless portrait of herself painted 40 years before, when she was in her thirties. She examined me intently, wearing the same sly smile she had in the portrait. She was beautiful and, standing directly below the picture, she seemed to be saying: “And I am still this sexy?” She was. With her high cheekbones, full bosom and bright green eyes, she looked like an earthly goddess who had stepped out of one of her novels. I called her “Dominique,” and then “Dagney,” and she smiled and touched my arm. She knew I meant it when I told her how beautiful I thought she was, and laughed a loud, Russian laugh.” I was in love. She showed me around the apartment — everything but the bedroom; she said it was too untidy for me to see. She showed me the massive drafting table on which she’d written every page of Atlas Shrugged by hand. She mentioned how she’d outlined various thoughts and ideas from Part Three of Atlas Shrugged : “A is A” — on the table in ink. When I asked where she had outlined parts One and Two, she laughed and said she would tell me later. (She never did.) It was amazing to think that she had laid out the handwritten pages of her masterwork on this very table every night. She showed me some handwritten pages of an unpublished article about the impact of Atlas Shrugged , as well as ten or so pages from a draft of the manuscript of Part One of Atlas Shrugged , “Non-Contradiction.” We talked for about an hour in her apartment — over the noise of a maid, who was cleaning. Then we headed out for lunch. The maid, a soft-spoken African-American woman, said: “Ms. Rand, please do not be long, and absolutely no smoking.” (I didn’t know at the time that she had been diagnosed with lung cancer.) As we walked down Lexington Avenue, I quoted my favorite passages from both her novels, and also from the Objectivist Newsletter. At the corner of 33rd and Lex, I happened to mention King Vidor being the director of King of Kings . It was Cecil B. DeMille. Ayn said: “Now that you’ve gotten one wrong, can you be quiet and let me talk?” Of course I had been rattling on, as we walked from her apartment to the restaurant. I wanted to impress upon her just how significant she had been to me growing up, and that I knew she had met her husband on the set of King of Kings, in 1927. But, because of that one slip, I had to pretty much suppress my urge to talk further and, over the next four hours, let her have the lion’s share of the conversation. The restaurant was closed because of the holiday. As we walked on, looping back around towards her apartment, I remember thinking, “This is going to be a short meeting; we are going to end up back at her front door and that will be it. She won’t invite me up because the maid is cleaning.” Luckily we found a diner a block further on, back on 34th Street, and settled in. Ayn ordered cereal and I got a hamburger. She lit a cigarette and didn’t stop smoking and blowing smoke in my face for the next four hours. She did not eat at all. When it was apparent that I was uncomfortable with her smoking, Ayn shrugged and said, “I can’t do this in front of my housekeeper because it’s bad for my health. Do not be such a complainer.” The time went by in an instant. We talked about philosophy and economics and her work and career, and the love of her life, Frank O’Connor. In our time together I understood how she could have created a worldwide movement against totalitarianism just through force of will. But, sadly, she was also an adherent of atheism, a point of view I so strongly disagreed with that I could not keep silent about it, and the debate was on. In her words, I was a “mystic fool,” but I pushed back with Pascal’s argument that this world is so complex that some higher power must have created it. She was fearless and said exactly what she thought, in short, perfectly formed sentences. She was extremely judgmental, and every remark was dissected and commented upon. But earlier in my life I had faced off with Madelyn Murray O’Hare, the famous American atheist, and I too was fearless, at least on this subject. But she also spoke about her childhood, her father the pharmacist, growing up in and then leaving Russia, and about her sister, who came to live with her in the 1960′s. Throughout the conversation she would laugh often — loudly and joyously. I listened intensely to her every word, sensing that being with this beautiful woman would impact my life forever. As our visit was coming to an end, she said, “You listen and talk well but too much sometimes. You would make a good teacher. I’ve been taking math lessons in arithmetic; can you show me how to do this problem?” It was a simple procedure of dividing fractions and I showed her how to do it, feeling the pleasure of knowing something she did not. (Years later, in one of life’s great coincidences, I was in the same class with her math teacher.) I paid the check, we walked back to her apartment building, and said goodbye. I told her: “You are a great teacher, Ms. Rand.” She walked into her building and that was the end of our first meeting. A few days later, I sent her a book about Hollywood that she was mentioned in, along with a hand-written thank-you note. She didn’t reply, so a few weeks later I sent another gift — Russian candy — meant humorously, with another note. She sent them back. The returned gifts were accompanied by a letter from Ayn’s secretary, saying that Ms Rand had only seen me out of courtesy to my grandfather. I was devastated. This incident cut me deeply. I was so scarred by the rejection that I couldn’t even tell anyone about it for 15 years. Ayn had been so nice to me during those smoke-filled hours, which made the letter from her secretary all the more distressing. (I promised myself never to treat anyone like that, and I never have.) I felt then what others had told me: my idol was nothing more than an egotistical, self-absorbed recluse, and just as flawed as anyone else. Fifteen months later, in September of 1981, we both got another chance. Again my grandfather had intervened, calling Ayn and apologizing on my behalf. To me, he said: “You were too intellectually aggressive.” I was shocked, and didn’t say anything about my virtual silence for those four hours in the restaurant. My grandfather continued: “Because she hurt your feelings last year, she will see you one last time — for fifteen minutes. Don’t mess it up this time. She is a genius and you can learn a great deal from her. Do not talk or take issue with anything at all.” I met her in the lobby of her building in the early fall of 1981. I had been so shaken by her letter and the return of my gifts that I must have looked like a stunned little kid — beyond chagrined. She said, “Don’t be so weak. Weakness sickens me. Do not make me feel pity.” I knew she was quoting from The Fountainhead ; I then quoted the preceding and following sentences. She laughed, and said, “OK, you’re forgiven.” She looked even more beautiful to me this year. Her intelligence shone from a face that was now over 76-years-old. We went back to the restaurant on 33rd and Lexington that had been closed the previous Memorial Day. I gave her a bracelet my mother had given me when I left Flint. She put it on over a green shirt that was covered by an old blue sweater, with an elegant gold brooch pinned to the sweater. Her outfit was completed by a pair of baggy black pants. We sat at her favorite table by the door, exactly on the corner. She knew all the waiters, who were very respectful to her. I excused myself and went to the bathroom. On the way, I asked one of the waiters: “Do you know who that is?” “Of course,” he replied, “she’s a writer, right?” This time Ayn and I talked for at least five hours. She was still grieving over her husband Frank’s death. She smoked continuously, and said: “No one knows how sad I am. And this pain from Frank is killing me.” She blew a cloud of smoke in my face and said, “You should come to my funeral.” I laughed when she added: “And I mean it” — the four words that had guided her life. She told me in detail how she met Frank O’Connor on the set of King of Kings on a bus for the extras. She then did not see him for several months, until running across him by chance at the studio library, where he was reading about art history. She told me with a breaking voice what he was wearing on his tall frame. She had kidded him about his baggy pants and he had laughed at her accent. They both liked the poem “IF,” and she recited it to him from memory. For her, it was love at first sight. She told me many anecdotes about Frank and related how he had had a stroke before he died, which interfered with his ability to talk but not his ability to hear. Then she started to cry. I was shocked — everyone had told me she never cried, except once at the Foundation for Economic Education (FEE), a think tank for the ideas of Henry David Thoreau, when Ludwig von Mises — the legendary free market economist — had yelled at her. Von Mises told her that she was a stupid ignorant Russian peasant woman, and she broke down. When I mentioned this story, she got upset. She said Von Mises, always a gentleman, would never have said such a thing, that he had a deep respect for her. As she tells it, William F. Buckley had made up the story to hurt her. To change the subject, I brought up God and spirituality. We had spent a good deal of time at our first meeting arguing about spirituality — my belief in God and her hatred of the concept. “You will see Frank again in a spiritual sense,” I said, “there is just too much energy for it all to disappear. There are over two billion calculations a second for the body to function. That is so incredible, someone had to create that. And if that is so, then anything is possible.” She nodded, half-sobbing, her face heavy with tears. “I hope so” she said. “I would do anything to see him one more time.” She showed me notes he had written to her after the stroke. They were in large letters in what looked like a third-grader’s printing. “I hope you are right, maybe you are. I think about it all the time. I do not know. I just do not know,” she said. After a long pause, she added: “I will find out soon enough.” “Let me know,” I said, and we both laughed. I pointed out her use of “God” on Phil Donohue (whom she adored). “You did say God bless America,” I teased. She laughed that wonderful laugh again — she was so charismatic. I said: “You should let the public know that, that you have doubts. So many people follow you.” She waved her hand dismissively: “So what. Let them find their own way, I cannot help them.” I told her about my interest in politics and my desire to help maximize people’s personal and professional freedom — particularly for poor children. (I had recently been mugged and was thinking about making a career change to work with the type of children that had humiliated me.) She agreed that that was laudable, “Provided they have a good philosophy of reason and that they are objective and face reality,” she added — in what sounded like a harbinger of the didacticism that would come soon after her death, and scar Objectivism for decades. “You should be a teacher. You have a knack for it,” she said, repeating her comment of fifteen months before. “If you could teach people that are born poor to create value and be capitalists, that would be good. Look at what I was able to do with nothing — I had no money or skills, just a vision of what I could become. I wanted to be a writer and philosopher.” Little did I know how those words would guide me in the very near future. I gave her copies of three papers I had written on economics. One of them has since become famous as the first statistical test of the Austrian Trade Cycle Theory; another was my attempt to bring a unity to the different methodologies of economics, a paper F.A Hayek — a Nobel Prize winner — had loved when I had studied with him in 1977. She promised to read them. In passing, I told her of my activism for gay rights, thinking she would be pleased. She was not pleased, and also made it clear that she hated Murray Rothbard who, along with Charles Koch and I, had just co-wrote the Libertarian Party Platform. “We made him leave our study group,” she said, referring to Rothbard’s excommunication from the Collective, a discussion group of intellectuals that met weekly in her apartment. When we left the restaurant, having let her do almost all the talking, I said nothing — but gave her a hug. We walked back to her building, just as the housekeeper was coming out: “Ms. Rand, I was just coming to find you.” A colleague of hers had come out too, and began yelling at me that I had kept Ayn out too long and that I was boring her. I think perhaps he felt threatened by her being with me. Ayn turned and said, “You made me feel better.” I laughed and replied, “I thought people were not supposed to feel.” She gave me a quick one-finger handshake and said: “One more meeting and that is it — I am tired.” She added: “Do not count on me for any more visits.” I answered: “OK, but you did say we could have coffee; I love being with a beautiful woman. Can I get a picture with you, please?” I handed my camera to the housekeeper, at the same time calming her colleague down. “No, absolutely not, I am too old! If I am alive next year, perhaps,” she said laughing. “If not, come to my funeral.” Over her objections, the housekeeper took a picture (which unfortunately I lost 20 years later). Ayn and I both laughed, and she went inside the building with her companions. This time I waited a month to call her and sent no notes or gifts. When I got her on the phone, she said, “I am too tired now,” and then: “I can see you for a cup of coffee, perhaps, but only for twenty minutes. You wear me out.” I was pleased and promised not to talk at all. I met her at the same restaurant, but she was grumpy, irritable, and tired. We left after twenty minutes. I had absentmindedly left my jacket at the restaurant and her housekeeper called to say that I could come over to the apartment and get it from the doorman, that I could say hello to Ms. Rand for a minute, then leave. My visit got postponed several times. The last time I called, Ayn got on the phone and we spoke for a minute, but she sounded tired. I never picked up the jacket. After her return from the trip to New Orleans, where she had spoken on the topic of Morality and Capitalism, I received a letter from out of the blue: “I had seen you out of respect for your grandfather. You turned out to be a terrible disappointment. The fact that you support the immoral acts of homosexuals shows me you are a second-hander who likes his heroes with clay feet. Do not call me again or contact me in any way. Here is the bracelet — I do not want it. I am burning your papers.” It was like someone had taken a hot knife to my stomach. But the letter so contradicted how our last encounter had played out, that I was unsure if it was even written by Ayn herself. She had made a point to “cc” this letter to several individuals, including Leonard Peikoff. And that was that. This final communication hurt so much that I have never talked about it until now. In my opinion, based on our last conversation, Ayn Rand died a deist or an agnostic, not an atheist. Sadly, her intense dislike of gays and the gay liberation movement led to our falling out, during that last meeting in January of 1982. I felt that she had replicated the world she had grown up in, where the Tsar — then Lenin — would ostracize (or worse) anyone who disagreed with official attitudes. I will forever reject Rand’s philosophy of Objectivism, because it denigrates the importance of spirituality. It also overlooks the limits of a market economy in solving a variety of serious problems caused by the economics of externalities and public goods. I fully appreciate Ayn Rand’s influence in stopping the worldwide rise of totalitarianism, in encouraging the feminist movement, stimulating discussion of the legalization of victimless crimes, and the jump-starting of libertarian politics . And she was uncannily prescient. Inspired by her, I subsequently spent 30 years teaching at-risk youth and, in 1987, I founded NFTE, where I still teach. Sadly, many of the events she wrote about in Atlas Shrugged are coming to pass.

Read the full article →

AgilePath Corporation Expands, Open West Coast Office

April 20, 2011

Appoints Kevin King, Director of West Coast Operations, Promotes Mark Ferrrara to Director, DoD Programs

Read the full article →

Did Obama Plan His Budget Speech Months In Advance?

April 19, 2011

WASHINGTON — President Barack Obama’s much discussed speech last week on how to remedy the country’s fiscal future was part of a far broader, more strategically detailed political strategy than has been previously reported. Several high-ranking administration officials have confirmed that the White House laid out plans for the address as far back as the last calendar year, with the president’s economic team and other senior staff members “meeting regularly since February to put the policy together and work on the speech.” In presenting a fiscal roadmap, the administration aimed to demonstrate Obama’s fundamental seriousness towards what is widely perceived to be a looming deficit crisis. But the speech also illuminated both the lack of communication between the White House and Capitol Hill and a growing conviction among insiders that the president must move the deficit debate off center stage in order to tackle other domestic priorities. The address, delivered at George Washington University last Wednesday, outlined an expansive approach towards leveling the federal government’s balance sheet. Obama expressed a need for simplifying the tax code and raising the rates on the highest earners. He called for a “debt fail-safe” trigger, mandating Congress to pass across-the-board spending reductions if the nation’s debt does not decline. He advocated stronger cuts in the Pentagon’s budget and less waste in Medicare. His remarks, in all, were positively received by Democrats and derided as partisan waste by Republicans. Yet build-up to the speech illustrated more than reactions to it. Capitol Hill officials, including the White House’s top allies, say they were left completely in the dark. No one, it appears, knew Obama would deliver an address until his top aide, David Plouffe, announced plans on the Sunday shows. Key aides were briefed on its content only days (if not hours) before the president took the stage. “Members and staffs had no idea what they were going to say until about four hours before the speech—three days after the speech was announced,” said a senior Senate Democratic aide. “It was pretty ham-handed in its roll out and members weren’t pleased.” The abundance of secrecy left the impression that White House officials came up with the idea for Obama’s speech at the eleventh hour in an effort to divert attention away from the debate raging in Congress. “They were scrambling to change the subject from the budget debacle and this was what they latched on to,” said the aide. Having failed to effectively brief members of Congress on the details of his plan, few lawmakers could therefore amplify the president’s message. Administration officials, for their part, steadfastly refute the idea that they simply “winged” it. According to one Obama aide, the president and his team decided in December that he would have to “lay out a comprehensive plan” for deficit reduction “after the FY2011 funding debate had completed.” Another White House official described the planning as even more specific, asserting, “Its been on the schedule for the Wednesday after the [continuing resolution avoiding a government shut down] was resolved for months now.” Because a vote on the continuing resolution was delayed on several occasions, the date of the speech remained, consistently, in flux. According to these individuals, the President’s staff had been considering university locations near or in Washington, D.C. for venue well before the speech was announced, with an eye toward delivering subsequent deficit-focused addresses outside the nation’s capital the following week. Michelle Sherrard, a spokesman for George Washington University, did not have a specific date for when the administration first contacted the university. She noted only that “The White House and GW regularly communicate about the possibility of hosting upcoming events on campus.” One administration aide defended congressional outreach, adding, “Throughout this process the President’s team has been in touch with leaders on the Hill, including both the Gang of Six [Senators meeting on their own deficit proposal] and Congressman [Paul] Ryan, and other stakeholders like the deficit commission chairs.” “In touch,” however, remains an inherently subjective phrase. As late as the Tuesday night before the speech was delivered, one extremely close White House ally professed to not having a clue about what would be said. “I don’t think they have briefed anyone and I am not sure the speech is done!” In fact, the speech wasn’t done. According to an administration aide, “the president worked until late in the night Tuesday, and put final touches on the speech on Wednesday morning.” Why did it take so long to finalize the details on a speech planned months in advance? For one, various areas of policy disagreement within the White House remained unresolved. In particular, officials familiar with the discussions say, Obama’s economic advisers warned against calling for a final balance of three dollars in spending reductions for every dollar generated in additional tax revenue, arguing the ratio was too explicit. Medicare reform sparked another element of disagreement. In his speech, the president proposed strengthening the Independent Payment Advisory Board, a group tasked with finding excessive and unnecessary spending within the system. Several aides wanted him to further outline specific ways to empower Medicare to negotiate over drug prices and medical procedures. In the end, Obama kept the speech broad, leaving Democrats officials on the Hill largely pleased. Several members of Congress also expressed agitation with the timing. Obama’s speech came after Rep. Paul Ryan (R-Wisc.) unveiled his own budget plan , giving his own remarks the veneer of a presidential response rather than executive leadership. Moreover, by calling for additional talks on deficit reform, the president miffed lawmakers either working on or invested in the Gang of Six talks currently ongoing. “The fact that the president has come out with his vision should be a positive reinforcement, another indication that this is important work that needs to be done,” Press Secretary Jay Carney said on Monday in response to complaints Obama stepped into Gang of Six territory. “And the fact that the President built his vision by borrowing in many ways from the recommendations of the bipartisan commission on which a number of members of that Senate group sat… gives a good sign, a good indication, of the fact that there is a building consensus around the way to approach this problem. So he thinks it’s very complementary to the process.” But many Democrats don’t want “complementary.” The Gang of Six already gives progressives angina, with the Democratic members of the group — including Sens. Dick Durbin (D-Ill.) and Mark Warner (D-Va.) — openly supporting elements of Social Security reform and even extending the Bush tax cuts. Should the president end up complementing or even embracing their approach, the worry goes, no progressive counterpoint to Ryan’s proposal will emerge. Instead, the distance between the Gang of Six and the Republican alternative will become the “compromise.” The White House has been noticeably tight-lipped about its thoughts on Gang of Six conversations, perhaps because scarce information exists as to what, exactly, the lawmakers are discussing. But signs of mounting concern permeate both on and off the Hill. When Vice President Joe Biden hosts a deficit reduction meeting with members of Congress at the Blair House on May 5, no Democratic lawmakers from the Gang of Six will be present. Instead, Senate Majority Leader Harry Reid (D-Nev.) is sending Finance Committee Chairman Max Baucus (D-Mont.) and Appropriations Committee Chairman Dan Inouye (D-Hawaii). Gang of Six member and Budget Committee Chair Kent Conrad (D-N.D.), one Democratic Senate aide relayed, was more than “irked” by his absence from the talks. Other Democrats voiced relief over the Gang of Six absence, speculating that both Reid and Sen. Chuck Schumer (D-N.Y.) were growing wary about the bipartisan group’s role. Gang of Six criticism is more intense off the Hill, with several of the nation’s most powerful union groups laying down crisp lines in the sand over elements they consider non-negotiable, such as ending tax cuts for the richest Americans. “Any plan to reduce the deficit that does not include ending the Bush tax cuts — a clear contributor to the deficit — is not a serious plan,” said Michelle Nawar, Director for Legislation at the Service Employees. “Every middle class family should be offended if Congress calls on them to bear the burden for reducing a deficit they did not cause while continuing to handout more tax giveaways to millionaires and corporations. We’ll see what the Gang of Six proposes, but how could any Democrat support a plan that cuts needed services for seniors and children while continuing these expensive tax giveaways?” Nawar’s question presumably extends to Obama, who has punted once on letting the Bush tax rates for the wealthy expire (they will now lapse at the end of 2012). A far more immediate and pressing concern, however, is whether the administration’s attempt to jump ahead of the deficit debate will yield the type of political fruits the White House envisions. The president’s advisers — chiefly, former Senior Communications Aide David Axelrod –- have long seen benefits to deficit hawk-ery in private polling. But the payoff this time around has been limited: An ABC News/Washington Post poll released on Tuesday showed that 57 percent of Americans disapproved of the way Obama is handling the economy. “I think they were concerned about how to give the president credibility on this issue and how to win over some independents,” one top party strategist said of Obama’s speech on Wednesday. “The irony is it won’t give him any. He could have offered $10 billion more in cuts for the CR and it would never be good enough for the GOP.” Jen Bendery contributed to this report.

Read the full article →

Angela Haines: Immigrant Entrepreneurs Challenge the Barriers

April 19, 2011

Maria Lores-Browne, a Colombian immigrant, began dreaming about her own business during her years working as a laborer on construction sites, doing everything from pouring concrete to laying flooring. She asked herself, “How can I do this when I’m 45 or 55 years old?” So she went to school to learn how to operate heavy machinery though she was repeatedly advised “they don’t take girls.” After taking the requisite courses, she qualified to join the Operating Engineers Union, but “they were always reluctant,” she says, “to send out woman to operate equipment so they only assigned me to jobs as a watchman for construction sites.” Maria persisted because “I love running big equipment; I love the feel of the paint, the fittings, the tires, the same way many women love diamond rings.” Last fall she started Berma Construction Company. The harsh New York winter provided her with her first customer. JFK Airport hired her company to plow snow. Like Maria, who now seeks funds to purchase equipment, the biggest problems most immigrants face is access to capital. What’s particularly hard for them, says Catalina Castano, Director of the Brooklyn Small Business Development Center is that “they are unfamiliar with credit rules. Many have no credit histories, though lenders insist on credit scores. And unlike native born entrepreneurs, they frequently can’t turn to their networks for a ‘friends and family’ first round; they often can’t find a co-signer on a micro loan.” Adds Elisa Balabram, who heads a government-funded Business Center in Brooklyn, “other countries have more informal rules for doing business, so immigrants have to learn about requirements; their language problems can add to their difficulties understanding financial rules and regulations.” The Vinci Tablet Dan’s new Galaxy tablet provides an interactive learning platform with an Android operating system; it features a sturdy red silicon handle, a non toxic tempered glass screen and has no wi fi components to minimize radiation; it will be available in July. These days Dan works mainly with psychologist, educators, and artists as she develops software for her tot tablet, combining her talents in advanced technology with the creative world, a step which presumably her early teachers would have considered a more appropriate arena for women! For more on women entrepreneurs, visit www.wstartup.com

Read the full article →

Altitude Digital Partners Names New COO; Appoints Industry Veterans to Lead Sales & Ad Operations Teams

April 18, 2011

Devin Yeager Promoted to COO; Don Jankowski Named Director of National Sales; Kelly McMahon Darnall Named Ad Operations Director

Read the full article →