Podcasts about balance sheets

مرور خبرهای مالی هفته با علی ط ساکی

After years of relentless balance-sheet repair, the upstream oil and gas industry may be reaching an important turning point in its capital-allocation strategy. Today, we review Q2 2026 cash allocation and analyze a trend that is far from uniform, revealing sharply different priorities among E&Ps.

Contango Silver & Gold ($CTGO) CEO Rick Van Nieuwenhuyse explains that the company is now an “execution story,” targeting growth from ~60,000 gold-equivalent ounces to ~200,000 ounces per year plus 5 million ounces of silver annually in five years. He updates the producing Manh Choh Peak Gold JV with Kinross, noting 2026 is expected to be a stronger production year after a pit transition, with costs elevated in the first half and an added oxygen plant improving CIL performance. He outlines the direct ship ore (DSO) strategy, progress and permitting at Lucky Shot and Johnson Tract (FAST-41), Kitsault Valley drilling and resource work, plans to pursue a mill, current balance sheet, and emphasizes leverage to the gold price on a per-share basis as Contango only 33 million shares outstanding. 00:00 Intro 01:11 Manh Choh Production Update 02:02 Costs and Processing Improvements 04:09 Reserves and Expansion Upside 06:37 Direct Ship Ore Explained 07:57 Lucky Shot DSO Criteria 09:27 Lucky Shot Resource and Permits 11:43 Johnson Tract and FAST 41 14:11 Timeline and Mill Strategy 17:44 Permitting Risks and Tailings 22:40 Kitsault Valley Silver Growth 26:03 Balance Sheet and Capital Plan 28:41 How to Value Contango Press Release Discussed: https://contangoore.com/contango-silver-gold-provides-project-updates-2/ https://contangoore.com/ NYSE & TSX: $CTGO Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Sponsor Contango pays MSE a United States dollar seven thousand per month coverage fee. The forward-looking statement disclaimer found in Contango's most-recent company slide deck found at www.ContangoOre.com applies to everything discussed in this interview. Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

We break down the takeaways from Oracle's (ORCL) Q1 fiscal 2027 earnings call — what to expect through 2026 and into 2027–2028 as hyperscaler CapEx stays high but is set to slow in growth by 2027, and more in 2028.Oracle posted $19.3B in revenue (sequentially flat) with seasonality fading, while balance sheet concerns persist: $125B in debt against $37B in cash. Management cut debt for a second straight quarter and completed a $20B at-the-market equity program. But CapEx surged to $28.5B — though operating cash flow rose to $23.1B, and management said new data center capacity is getting booked quickly and generating positive cash flow.Nick closes by connecting ongoing AI infrastructure spending to broader semiconductor stock volatility — and why our positive market outlook through the end of 2026 stays unchanged.TIMESTAMPS0:00 - Oracle Earnings Setup0:51 - Revenue Growth Snapshot1:35 - Balance Sheet and Debt2:49 - CapEx Surge Explained4:01 - Free Cash Flow Outlook5:06 - CapEx Ratios Peak5:50 - Cloud Growth Drivers8:40 - Portfolio View on Oracle9:32 - Market Theme and CapEx12:04 - Wrap Up and Next Steps—Get 15% off any paid fiscal.ai plan: https://fiscal.ai/csiIf you want the reasoning behind more names like this one, Semiconductor Insider covers the process in more depth. Get access to all our research, weekly live Q&A events, and a growing set of tools to build your process: https://www.chipstockinvestor.comAll our socials: https://linktr.ee/chipstockinvestorIf you're getting value from the show, follow so you don't miss the next one.—Disclosure: Some links above are affiliate links. If you buy something through them, we might earn a little coffee money — thanks for helping us (Kasey) fuel our caffeine addiction.Content in this episode is for general information or entertainment only and is not specific or individual investment advice. Forecasts and information presented may not develop as predicted, and there is no guarantee any strategies presented will be successful. All investing involves risk, and you could lose some or all of your principal. CSI owns shares of Oracle.

مرور اخبار مالی هفته با علی ط ساکی

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Janice Ochenkowski about her leadership, her career path, serving in RIMS External Affairs and later as RIMS President. They discuss the September 11, 2001 terrorist attacks, the loss of lives, and the impact the attacks had on life in the U.S. Justin and Janice talk about Janice's role in passing the Terrorism Risk Insurance Act (TRIA). They also address the financial and housing crisis of 2007-2008. Janice relates her testimony before Congress on various matters over the years, and how her RIMS leadership held her in her employment. Listen for wisdom on adapting and changing with the times, and using leadership opportunities to help your business as you move your risk career forward.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We will be joined by former RIMS President Janice Ochenkowski. [:35] Janice will discuss how her time on the RIMS Board and as RIMS President helped ensure the passage of TRIA, the Terrorism Risk Insurance Act, in the aftermath of the 9/11 terror attacks. [:49] There will be plugs later on, and we will learn about Janice's fascinating career, but I wanted to address the fact that this episode is being released on September 8th, 2026, a few days before the 25th anniversary of the 9/11 terror attacks in the U.S. [1:10] Before we get started, I'd like to welcome back RIMS's Chief Executive Officer, Gary LaBranche, to say a few words. [1:18] Message from Gary LaBranche: 2026 marks a quarter-century since terrorist attacks on the United States killed nearly 3,000 people, injured many more, and impacted the lives of millions. [1:30] This RIMScast podcast provides the opportunity to reflect on the lives lost and the lasting impact of this tragedy on survivors, families, friends, first responders, and everyone who witnessed that horrendous day and has borne its burden over the past 25 years. [1:51] The events of 9/11 also revealed the best in human nature, such as the warm, welcoming affection shown by Canadians when U.S.-bound flights were diverted to Gander, Montreal, Vancouver, Halifax, and other locations in the aftermath of 9/11, as we learn in this podcast. [2:11] RIMS played a leading role in crafting and passing the Terrorism Risk Insurance Act (TRIA), which established an insurance backstop in the event of a future large-scale terrorist attack on America. [2:24] RIMS is working right now on bipartisan legislation in both the U.S. House and Senate to reauthorize TRIA. As we commemorate this day, let us rededicate ourselves to the important work that risk management does to make the world safer, more secure, and more sustainable. [2:46] On with the Show! Here to provide a brief history of RIMS's collaboration with members of Congress and the global insurance and risk management community is Janice Ochenkowski. [2:59] Janice was RIMS President in 2007, and as we will learn in this episode, she had a colorful career with RIMS and with Jones Lang LaSalle, a commercial real estate property owner. [3:13] Her RIMS participation prior to her presidency was instrumental in helping her get TRIA passed by Congress, so there's a lot to learn today … Let's get to it! [3:23] Interview! Janice Ochenkowski, welcome to RIMScast!  [4:04] Janice joined the Chicago Chapter of RIMS, not understanding the larger RIMS organization. She became an active member and an officer. She was President of the Chicago Chapter the year that Chicago member Art Bostwick was RIMS President. [4:55] Janice says Art was a good mentor for her. He encouraged her to follow in his footsteps to be national president. She laughed, but many years later, she did. [5:20] Janice started her risk management career in 1980; she joined the RIMS Chicago Chapter in '82 or '83. After moving through the chairs in the Chicago Chapter, she became a delegate to the RIMS Conference, started working in various committees, and moved into leadership. [5:47] Janice was elected to the Board, took on responsibilities for different chairs, and ended up in charge of Government Affairs. [6:01] Lance Ewing, the President at the time, asked the Board what roles they wanted to take. Janice said she would do anything except legislative stuff, because she didn't know anything about it. He burst out laughing, and suddenly that was her mandate. [6:31] Janice says she absolutely loved it. Jim McIntyre, who was RIMS's Washington Counsel, was a phenomenal mentor. He prepared her to testify, prepared her for meetings, and explained who she was going to meet and how it was going to work, and so on. [6:53] Janice says, from there, I went into a few other responsibilities and ended up as the President. [7:10] Janice started her career in 1980 at LaSalle Partners in real estate and financial services. There were 150 employees operating in six states. Because of Federal regulations regarding their pension work, they needed a full-time risk manager. [7:35] The legislation said they needed a risk manager but didn't explain what the risk manager needed to do. Janice had been teaching high school, and she wanted to move into business. [7:47] Janice interviewed through an employment agency with a variety of companies, and decided LaSalle Partners sounded interesting and it would be a good platform for her to get some experience and then move on. [8:02] Thirty-eight years later, she was still there, and retiring. When she retired, there were 90,000 employees in 100 countries. Janice had 17 full-time staff, globally, working for her. [8:20] Janice says LaSalle Partners started as a privately held company. Janice was one of the partners. It became a corporation and, after acquisitions, merged with Jones Lang Wootton, a UK real estate organization, and became Jones Lang LaSalle. [9:17] Janice says her career was a wild ride. She says she never could have imagined the experiences she had, the friendships she made, and the things that she learned and had opportunities to do, through her company and through RIMS. [9:36] Janice says she was able to draw links between the benefits of RIMS and the business of her business. When she went to board meetings, they asked how her RIMS work was going. She showed that being in leadership at RIMS helped her company to achieve its goals. [10:27] Janice says, when she started at RIMS, there were the local chapters, and then there were industry groups. The real estate industry group was extremely active. It was populated by very experienced real estate risk managers. They served as mentors to anyone coming on. [10:47] The group met not only during RIMS, but also in New York, in the fall, outside of the RIMS conference. Eventually, Jones Lang LaSalle supported the group's meetings and allowed them to use JLL buildings and support from technology to go forward. [11:07] Janice says, when she was going to a RIMS conference, she asked the JLL Board if there was anything they wanted her to focus on when meeting up with risk managers of their clients and vendors. [11:33] Over time, she didn't have to ask. They asked her, if you're going to your RIMS meeting, talk to this person. See if you can find out about this issue. There was connectivity between what Janice did at RIMS and supporting JLL. [12:10] Justin asks what Janice taught in high school. It was English and French. She can still speak un petit peu of French. She enjoys opportunities to speak to people in French and ordering from French menus. As a teacher, she wanted something different and moved into business. [12:42] Justin says that in over 400 RIMScast episodes, Janice might be the first guest who went from teaching and transitioned over to insurance. Janice says making lesson plans and executing them is good training for business. [13:07] Janice says she learned how to explain things. She had to translate insurance into real estate speak for JLL. She had to take real estate speak and translate it into insurance speak for underwriters and brokers. [13:22] Janice was comfortable speaking to groups because she had been speaking to unruly teenagers and getting them under control. Talking to a bunch of business people, who at least pretended to be interested, was a piece of cake. Janice says it was fun, and a good transition. [13:55] Justin brings up Janice's time as the Director of Government Affairs for RIMS. She became chair of what is now known as the RIMS External Affairs Committee. Lance Ewing nudged her into the role in the late 1990s. Then the September 11 terrorist attacks happened. [14:40] Janice says that one thing that's missing from most recollections is the immediate impact that the 9/11 terrorist attacks had. Before 9/11, there was the general perception that our borders were safe; there wasn't going to be an attack on U.S. soil. [15:15] When we saw the towers burning, when the plane went down, when the Pentagon was hit, that illusion was shattered. There was fear. We didn't know if this was the first of an aerial attack. Janice was on the 70th floor of the Aon Building, so it was a real concern for her. [15:40] Janice says, we didn't know if there was going to be an invasion or similar attacks around the country. To develop good risk management practices, the first thing you have to do is define the risk. [15:53] Janice says, we couldn't define the risk. The only thing we could do immediately was respond to the situation. She was thinking more with her Jones Lang LaSalle hat than with her RIMS hat. The entire leadership and spouses were on the West Coast doing strategic planning. [16:20] Janice says most of them operated in the Midwest and the East Coast. They had to get back, but there were no planes, no trains, and no transportation. They tried to get rental cars. So did everyone else in the world. [16:50] When they couldn't get more rental cars, they went to a used car lot and bought vans, station wagons, and whatever they could find where couples could travel together to similar places. When they got to where they were going, they sold the cars. That's how they got back. [17:15] Janice says, meanwhile, our technology folks were setting up hotlines: one hotline to figure out where people were. We had people traveling or on vacation. We didn't know where they were, and there was very limited communication. Phone lines and internet were down. [17:45] We set up a hotline. Every employee was required to call in every day for a couple of weeks, identifying where they were, whether they needed help getting back to their home, and what other resources they might need. The hotline helped them to get those resources. [18:06] The second hotline was for families. Families called that line if they were unable to reach their loved one. If the employee had called the hotline, JLL could tell the family where the employee was, how things were going, when they might get home, and take note of needs. [18:26] Janice says that's what was happening on the home front, away from the immediate needs in each of these 9/11 sites. It was only after that that you could settle back and think strategically about what it meant on a broader basis, and that's when she put her RIMS hat on. [18:49] Justin guesses that at the time, Jones Lang LaSalle had thousands of properties across the U.S., with millions of square feet. So there is the security risk at those buildings, as well. Janice agrees, absolutely. [19:04] Janice says people focus on New York and D.C., but in Kansas, Nebraska, and all around the country, everyone was in shock and preparing for the worst. [19:26] Janice says she remembers sitting on the 70th floor of the Aon Building, once they let everyone in, after a few days. There were windows all around, and her window looked out onto Lake Michigan, where all the military patrols were, over the lake. [19:52] Janice clearly remembers many times over the next several weeks sitting there and suddenly seeing a black helicopter rise into view. She could see the pilot's face, and she waved. Then it would descend. She says it was reassuring but also scary. [20:30] Justin asks about the hotlines. Janice says Jones Lang LaSalle did things collaboratively. If Technology was working on something, they brought in Risk, Legal, and HR, and they all sat down and figured it out. They were all a part of whatever strategy was needed. [20:55] Janice was involved. She was an important member of the Security Team and the Safety Team, and was involved even in the aftermath, coming up with ways in which to strengthen and protect their buildings. [21:08] People were worried about chemicals being thrown into the ventilation. So they came up with ways to protect that while still letting air into the buildings. What to do to allow people back in. All of those things had to be considered, for safety and for the practical effect on operations. [21:33] A Quick Break! Many fantastic RIMS events are coming up in 2026. The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information. [21:46] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [22:02] Save the dates: October 18th through the 21st. In Quebec City, we will be hosting the 50th Annual RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Visit RIMSCanadaConference.ca for more information. [22:24] Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, with a new episode every month. [22:32] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration is open. Visit RIMS.org/ERM2026. [22:46] We're already looking to RISKWORLD 2027, which will be held over four days in New Orleans, Louisiana, from April 18th through the 21st! RISKWORLD 2027 Registration is open to organizational, individual, and associate RIMS members. [23:04] Get first access to the hotel block. Hotel reservations open on October 28th, ahead of public registration. Sitting this out is the real risk! The link to registration is in this episode's show notes. [23:17] Let's Return to Our Interview with Former RIMS President Janice Ochenkowski! [23:41] Janice says she needed to wear her RIMS hat almost immediately. She says everyone realized that there was "innocuous" language in all policies that said terrorist acts were covered. [23:57] There were no limits, sublimits, or deductibles. It was standard coverage because no one expected it to be a real issue. Then it was. There was an immediate concern as they looked at what their total exposure was. [24:14] There was the concern about what to do for new policies. There was a moratorium on policies, as there always is after a particular crisis. When they were reissued, that language was removed. That might not seem like a problem for organizations with no real risk. [24:35] Janice says, in the risk management area, there were covenants in our client contracts, from language pulled from insurance policies, that now we couldn't satisfy that requirement. We were in violation of our contract. [24:54] Janice says the more critical issues were loan agreements and mortgages. Lenders required terrorism insurance. They weren't going to take that out after 9/11. We were faced with a terrible conundrum. We were in violation of our loan agreements. [25:16] Janice says nobody moved quickly to foreclose on any of those things, but it was hanging over our heads. Unsuccessful efforts to renegotiate were going on, all across the country. Congress was absolutely unwilling to become the Federal program for terrorism. [25:39] Janice says Congress refused to consider it being another flood insurance program because that wasn't going too well. Insurers started trying to figure things out and made some limited amounts of coverage available. [25:55] At one point, globally, there was $10 million of terrorism coverage available. $10 million didn't satisfy anybody's loan requirement. Ultimately, it went up to $25 million, but it was still a problem. [26:24] Organizations like the Real Estate Round Table, RIMS, and other groups formed coalitions. Jim McIntyre was very helpful. He had contacts in all those groups. He inserted RIMS wherever he could. [26:49] JLL saw the basic need for what Janice was doing at RIMS, so she had carte blanche to go to Washington whenever she needed to work on these matters. These groups were able to explain to Congressional aides and the business press what things meant, in plain English. [27:33] Januce says, you tell them, this building goes into foreclosure, and the guy running the coffee shop doesn't have a job anymore. Development and construction totally stop. Nothing was being built. That impacts all the trades and unions, so they joined the coalition. [27:57] Unions became activists because their members, who thought they had jobs starting over the next several months, were now sitting on their hands with nothing to do. Small businesses set up around the potential sites had nothing happening. [28:18] Janice says there was a financial impact from that decision by insurers. It wasn't a faulty decision; they had shareholders. [28:33] Ultimately, after long discussions and negotiations, Janice testified before the President's Working Group on Terrorism, and before Congress, and met with Congressional Aides who were working on various bills, and was able to assist in passing TRIA. [28:58] TRIA wasn't perfect, but what it did was bring together the three major parties who had the most skin in that game and gave each of them a relative amount of financial responsibility in what happened. [29:12] These parties were the policyholders, with huge deductibles; insurance companies, with caps and reasonable premium allocations for risks, and the Federal Government, which came in after tens of millions of dollars had been paid out and criteria were met. [29:45] The Federal Government wasn't being capricious, or taking first-dollar risk, but was a backstop, so that there wouldn't be financial ruin and we wouldn't have a lot of bankruptcies. Imperfect as TRIA was, it solved a problem. [30:06] Janice says there have been several reauthorizations, and it has been tweaked each time to meet the issues and criteria that had to be met. Justin asks about cyber and forms of terrorism that may not be physical acts of terrorism. [30:31] Janice mentions the NBCR, for Nuclear, Biological, Chemical, and Radiological threats. It raised the issue, and there were risk management processes that were able to minimize those risks. [30:49] One more Quick Break! RIMS, The Foundation for Risk ManagementTM, is dedicated to shaping the future of the profession. By making a contribution, you are strengthening the global risk management community and investing in the future of the industry. [31:09] The Foundation also supports the Spencer Educational Foundation but has a different mission. The Foundation focuses on providing opportunities for those professionals who have already decided to enter risk management and are just getting started. [31:23] You can learn more about the Foundation by visiting www.RIMS.org/FRM.  While you're there, be sure to check out information about the Susan Meltzer Scholarship Fund, which was established to honor Ms. Meltzer, who was RIMS President in 1999 and 2000. [31:42] Susan Meltzer was a cherished RIMS President and contributed so much to RIMS and the greater risk community. Learn more at RIMS.org/FRM. [31:51] Let's Return to Our Interview with Former RIMS President Janice Ochenkowski. [32:12] Janice says meeting with Congressional Aides and Policymakers on Capitol Hill was intimidating the first hundred times she did it. You're walking into these buildings that you've only seen photographs of. You're going into the offices. [32:24] Jim McIntyre had explained to her that Congressional aides have a lot of power over the bills and the language in the bills. The Congresspeople they work for look to these aides to be their technical resource. [32:42] While some people were angry that they couldn't meet with the principal; they were only going to meet with the staff, but you want to meet with the staff. [32:57] The staff will take the time to sit down with language and work with you on it, and you'll have a better chance of impacting things by developing relationships with them. It worked very well. Some of the work Janice did with Jim before 9/11 really helped. [33:22] There was some insurance legislation that was going on. Aides did not understand what it meant. Janice ran a lunch program for the aides and taught them the basics of insurance. She bought pizzas for them. Now, you can't do that because you can't buy them lunch. [33:44] Janice says they were coming to learn. Many of them were thankful because it gave them an understanding of what people were talking about and why certain things mattered. We had built some groundwork before TRIA. It helped because I already knew some of the aides. [34:00] There were already relationships. They were willing to sit down and talk with us. We were the voice of the insurance buyer. Previously, when insurance matters were discussed on the Hill, insurance companies and brokers were lobbying. This time, it was the voice of the buyer. [34:29] Janice says, We were constituents. We represented industries and organizations that were in their respective districts. Our voice became an important voice, distinct from the insurance industry. It reinforced RIMS's importance and raised our visibility on the Hill. [34:58] In 2004, Janice testified before a Senate Government Affairs Subcommittee on Insurance Brokerage Regulation regarding TRIA. Janice says, walking in, she was overcome with a sense of history. The panel was people she had seen on C-SPAN. [35:26] Janice says she was terrified she would say something wrong, that it would come out backwards, and that she would embarrass RIMS, JLL, and herself. She was used to speaking in public, but this was just different. It all went well in the end. [35:55] Janice says she had a prepared statement. Then there were five-minute questions and answers. Janice says there is a clock counting down, and when it gets to one minute, it starts flashing. She says it was a little unnerving and she stuttered a few times. [36:33] Janice says they interrupt your five minutes with questions, so your time is less. You're supposed to summarize what your position is and what you're testifying for. When you're on a panel, it's not the same as when they're conducting a hearing, accusing you of wrongdoing. [37:02] Janice says the Congress Members are trying to get information and a few sound bites to send home. It's not antagonistic. They're not trying to trip you up on anything. Once you become accustomed to it, the next time is a little easier, because you're relaxed. [37:29] In 2006, Janice appeared before the House Subcommittee on Financial Services about Insurance Modernization. Janice says it was a topic that she had a lot of comfort in speaking about. She wasn't quite as nervous about getting the facts mixed up or totally blanking. [38:05] Janice says she was part of a panel of five or six people. It's for an hour or so. They might pause if somebody has to take a call. [38:36] Janice became RIMS President soon after. [38:52] In 2012, Janice returned to Capitol Hill for a hearing before the Subcommittee on Insurance, Housing, and Community Opportunity of the Committee on Financial Services in the U.S. House of Representatives. [39:08] Janice says she always spoke in RIMS's capacity. JLL did not do any lobbying. JLL joins groups, like the Real Estate Round Table, RIMS, and other groups that represent their interests. [39:36] Janice says that for the 2012 visit she had a greater comfort level. It was on an issue she was comfortable with: broker compensation. It was easier to discuss. She still had the same anxieties about being in Congress, in that room, with all the history, speaking to icons. [40:23] Justin says that TRIA was eventually passed. It's been reauthorized a couple of times. It has made a difference for companies and for society, at large. Janice says it raised RIMS's profile in the eyes of the others who were participating and testifying. [40:46] Janice says RIMS got a lot of press. The Wall Street Journal and the business press, in addition to insurance publications, presented information about RIMS. On a corporate level, when Janice's name was printed in association with JLL, clients asked about it. [41:18] Janice says, with things like TRIA, or general insurance questions, clients would go to their risk managers and ask them to contact me to get information. This delighted JLL because it was a closer client relationship. JLL had an initiative to provide specialist experts for clients. [42:23] Janice says if you go before Congress, the most important thing is to do your homework. Even if you're comfortable with public speaking, don't expect you can ad-lib to a Committee. Prepare, prepare, prepare, and understand the pros and cons. Practice with potential questions. [43:06] Janice practices loudly to learn what word combinations she stumbles over. Then she removes them from her presentation. She says when you're more prepared, you're more self-confident. That makes you a better presenter. Justin says, also, rehearse in different places. [44:29] Janice takes a somewhat formal draft and then "Janicizes" it. She writes it in a way that's more conversational, as she would speak, rather than reading something formally. That makes you more comfortable, so you're a better presenter. [45:22] Janice says it seems that everybody knows when it's time to pass the baton to the next generation. She loved what she did, and she did it well; she was open to new ideas, but she was standing in the way of the next generation of leaders moving forward. She didn't want to do that. [45:55] Janice says that people with new ideas, generational ideas, who could relate to what's coming up, need to be allowed to move forward. [46:12] Janice says, think about what's happening in Washington. People need to move aside to let a new generation of leaders come in. Otherwise, you're missing that energy and enthusiasm of a new group of leaders. That's life. You move away and let the new guy in. [47:05] Webinars: On September 17th, AXA XL returns to present the session, "Beyond the Loss Count: What Property Claims Reveal About Frequency, Severity, and Resilience." [47:16] On October 1st, Brown and Brown will make their RIMS Webinar debut with "The Future of Captives: What Risk Managers Should Think About Now." [47:26] On October 8th, Global Risk Consultants will present "The 2027 Risk Agenda: 10 Engineering Priorities Risk Leaders Should Act on Now." [47:35] On October 15th, Verisk Maplecroft will lead the session, "Beyond the Horizon: Turning External Risk Into Decision-Ready Insight." [47:44] On October 22nd, Zurich will present "Cybercrime, Fraud and AI: Real-World Threats and Practical Defenses for Business Leaders." [47:53] Origami Risk will return on October 29th with a topic that will be announced soon. [47:58] On November 5th, Riskonnect returns to deliver the session, "Signal Over Noise: Smarter Risk Analytics." [48:05] RIMS Certification Week will be held from September 21st through the 25th. All three webinars are complimentary for all and are available through the Webinars Page on RIMS.org/Webinars. [48:21] Let's Conclude Our Interview with Former RIMS President Janice Ochenkowski! [48:34] Justin says Janice became RIMS President during the housing and mortgage crisis of 2007-2008. Janice says it's something risk managers need to think about. When there is a crisis, you don't step away from it; you step into it. You show leadership.  [49:17] Janice says she was able to help resolve something that was one of the most critical issues at that time. At the beginning, the financial crisis focused on AIG and its vulnerability to bankruptcy, and what that meant to the entire insurance industry. [49:47] Janice says it was really difficult because AIG was a major insurer for almost every large corporation in the U.S. and globally. Suddenly, senior board members were wondering if their claims in process would be paid. Will AIG go bankrupt, and what will happen to those claims? [50:15] They wondered if they should cancel their policies mid-term and underwrite with someone else, and if so, who? What will the financial impact of that be? Boards were coming to risk managers with those questions. Janice had those questions herself. [50:35] Janice says we were totally unprepared to answer them. We didn't have any more information than you were reading in The Wall Street Journal. Janice and the phenomenal RIMS staff put together a series of podcasts, the first of which was in three weeks. [50:59] Janice says they got sponsors and speakers. They contacted experts in various areas and senior executives at the major insurers, including AIG, and insurance brokerages. They were willing to sit and talk to their clients and to be shown as thought leaders in the area. [51:20] Janice says at the time there were 1,000 talking heads saying what should be done, but there were very few facts. You can't form a good risk management response to anything until you have facts; until you have data you can rely on and move forward with. [51:50] Janice says RIMS strove to provide facts. When they did the podcasts, they did not only invite RIMS members. They sent invitations to the C-Suites of major corporations. They told The Wall Street Journal and other business publications they were running these podcasts. [52:06] There was a series of podcasts. People tuned in. They were interested. RIMS established credibility with the information they provided. RIMS gave them tools and told them what to think about and consider, and what the ramifications could be, and let them decide for themselves. [52:55] Janice says that it seemed to be a popular series, and it raised RIMS's profile within the general business community and the C-Suite, even in areas that didn't have dedicated risk managers who reported to the C-Suite. It was one of the most important things RIMS did. [53:25] Janice says, then they went to Congress and talked to them about solvency and more. Also, Janice says they kept in touch with Congressional staff between meetings. The key to relationships on the Hill is meeting with aides. Many move from one Congressperson to another. [53:49] You keep up the relationships, and that gives your organization credibility. You're there consistently. Once an aide called and asked her to help define risk management for a piece of legislation. They had no real idea. She helped them craft something reasonable but not onerous. [55:14] Justin brings up the RIMS Annual Legislative Summit. They have a presence on Capitol Hill every year. It's a two-day or two-and-a-half-day event, so members who attend can get onboarded, know their talking points, and know the issues. Janice elaborates on preparation. [56:15] Janice says the Legislative Summit brought a lot of people from local RIMS chapters into the External Affairs Committee. That was a good pipeline. [56:31] Justin says his experience in 2018, for the reauthorization of the National Flood Insurance Program, was everything Janice mentioned. There was a small card with talking points, there was a rehearsal, coaching from professional lobbyists, and industry leadership. [57:10] Justin says it was a great experience. They met with aides, brought maps, and showed flood zones. They had the talking points down, and it was effective. It was one of the best experiences he could have had as a new RIMS staff member. It was excellent. [57:59] Justin remarks that Janice was the right person for the job. Her experience at Jones Lang LaSalle was terrific. Janice was a lifer. She retired in 2018, after 38 years. [58:46] Janice says risk management has certain basic things, but you have to evolve with the times. You can't resist change; you have to look at change as an opportunity. [59:00] If you're a smart risk manager, you're going to lean your company into that opportunity. Janice says, when people were working in her generation of RIMS, it wasn't unusual to spend a career at one or two companies. There was stability. You didn't need to leave to be promoted. [59:26] Janice became a Partner. When they were incorporated, she became an officer. When she ended her career, she was an Executive Vice President and part of the Global Operating Team, which set strategies for all JLL businesses. They reported directly to the Board. [59:51] Janice says risk management had a fairly high profile. New risk officers may not have that opportunity because the business world is demanding that you move every three to five years to get promoted. [1:00:23] Janice says whatever works for you and your organization and helps you move forward is what your personal strategy needs to be. Janice says, not only those who died in the towers, in the Pentagon, and in the field, but those who walked away with scars, visible and invisible. [1:00:40] Justin takes a moment to address and honor everyone who lost their lives during the 9/11/2001 terrorist attacks, on its 25th anniversary. [1:01:04] Janice speaks of the first responders and volunteers who rushed in to help and walked away with lifelong consequences from the materials that they inhaled. [1:01:19] Janice says, We just need to spend a few minutes on 9/12 remembering them and making sure that the relevance and their sacrifices are noted. [1:01:36] Janice, you've given us so much inspiration, and told us what it took for you to be an effective RIMS President. To anyone thinking about pursuing a leadership role at RIMS, starting out now, what advantages do they have to position them for success as a RIMS leader? [1:02:06] Janice says, the most important benefit that exists today, that didn't when I was starting, is technology. Today we do Zoom calls. Getting together and communicating was much more onerous. [1:02:23] It wasn't as easy to get people from across the country together and work collaboratively. We can do that easily now. People are taking advantage of that. They're using social media to spread ideas. [1:02:41] Janice says her generation struggled with social media. She did it because that's what she had to do. You can't stagnate. You've got to move with the changes as they come and figure out how to use those changes to move yourself forward. [1:02:58] What will technology and AI mean to risk management? What will they mean to RIMS? How is RIMS going to use AI? How is RIMS leadership going to use AI to promote what the important basics of risk management are and can be? Those are things you have to consider. [1:03:18] In order to be an effective leader at RIMS, you have to get the absolute support of your organization. You've got to connect those dots. You've got to show how and why your leadership at RIMS is going to benefit your company. [1:03:42] Telling your leadership you're going to a conference is not going to convince them that there's anything important going on. [1:03:56] The way to convince them is to tell them there's a conference. These are the sessions that they're going to have. This is the speaker they will have. That speaker is someone I think will tell me information about how to address this issue. [1:04:13] This session is about an issue that we faced last year. I want to go and see how others are doing with it. The next step is to come back and write a note telling leaders what you learned in that session. Ask, Can I meet with you to talk about these things I think we can implement? [1:04:42] You're showing that you're taking the information you're learning and using it to improve risk management in your company, and more importantly, the business of the business you are working in. [1:05:00] When Janice was President, she would visit a chapter and ask everybody who's in the insurance industry to raise their hands. They would raise their hands. Then she told them, no, you use the products of the insurance industry, but you are your company's representative. [1:05:51] Janice Ochenkowski, thank you so much for all your time and your insight today. It's such a pleasure to meet you face-to-face, and I hope we get to do that in person at a future RIMS event. [1:06:06] Special thanks again to former RIMS President Janice Ochenkowski for joining us here on RIMScast! This was a lot of fun, and there are plenty of great takeaways about TRIA, RIMS, public speaking, and honoring the victims of the 9/11/2001 terrorist attacks. [1:05:26] It was a real pleasure to meet Janice Ochenkowski, one of our most revered leaders. [1:06:30] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [1:06:48] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [1:07:04] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [1:07:17] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [1:07:29] Practice good risk management, stay safe, and thank you again for your continued support!   Links: Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026 ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Certification Week: Sept. 21‒24 | Complimentary For All RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today. RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Sponsorship Opportunities Available RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Registration Now Open! | www.rims.org/ERM2026 RISKWORLD 2027 Registration RIMScast Canada — Episodes Now Live — Watch the new video with Sophie Grégoire Trudeau. The Strategic and Enterprise Risk Center RIMS, the Foundation for Risk Management Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories RISK PAC | RIMS Advocacy RIMScast on YouTube! RIMS Risk Management magazine | Contribute | Q2 2026 Issue Now Available Sponsor RIMScast — Sales@RIMS.org Upcoming RIMS-CRMP Virtual Workshops: Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops   Upcoming RIMS Webinars: RIMS.org/Webinars "RIMS Student Series: Classroom to Career Part 2" | Sept 9 | Complimentary for all "Beyond the Loss Count: What Property Claims Reveal About Frequency, Severity and Resilience" | Sponsored by AXA XL | Sept. 17, 2026 "RIMS Certification Week: Sept. 22‒24" | Complimentary for All "The Future of Captives: What Risk Managers Should Be Thinking About Now" | Sponsored by Brown & Brown | Oct. 1, 2026 "The 2027 Risk Agenda: 10 Engineering Priorities Risk Leaders Should Act on Now" | Sponsored by Global Risk Consultants | Oct. 8, 2026 "Beyond the Horizon: Turning External Risk Into Decision-Ready Insight" | Sponsored by Verisk Maplecroft | Oct. 15, 2026 "Cybercrime, Fraud and AI: Real-World Threats and Practical Defenses for Business Leaders" | Sponsored by Zurich | Oct. 22, 2026 "Signal Over Noise: Smarter Risk Analytics" | Sponsored by Riskonnect | Nov. 5, 2026   Related RIMScast Episodes: "Opening Windows of Tolerance with Sophie Grégoire Trudeau" "When Geopolitics Hits the Balance Sheet with Cari Stinebower" "RIMS Advocacy in 2026 with Mark Prysock"   Sponsored RIMScast Episodes: "48 Hours From a Storm: What to Do Before A Hurricane Strikes" | Sponsored by Global Risk Consultants, a TÜV SÜD Company (New!) "AI-Scale, Risk Ready: Engineering Controls for the New Data Center Boom" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Facing Into Risk: Navigating the New Risk Landscape" (New!) | Sponsored by AXA XL "Secondary Perils, Major Risks: The New Face of Weather-Related Challenges" | Sponsored by AXA XL "The ART of Risk: Rethinking Risk Through Insight, Design, and Innovation" | Sponsored by Alliant "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company Demystifying Multinational Fronting Insurance Programs | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against an Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Janice Ochenkowski, Former RIMS President   Special introduction by RIMS CEO Gary LaBranche   Production and engineering provided by Podfly.

Stephen Miran is a former governor of the Federal Reserve, a former chairman of the Council of Economic Advisers under President Donald J. Trump, and currently a senior strategist for Hudson Bay Capital Management. In Steve's third appearance on the show, he discusses his life as chair of the Council of Economic Advisers and as a Federal Reserve governor, the Fed's balance sheet, regulatory dominance, the future of the discount window, the possible return of monetarism, and much more. Watch the full length video on our new YouTube Channel! Check out the transcript for this week's episode, now with links. Recorded on August 20th, 2026 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow Stephen Miran on X: @SteveMiran Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Timestamps 00:00:00 - Intro 00:01:42 - Life as CEA Chair 00:08:40 - Reducing the Fed's Balance Sheet 00:42:23 - A Return to Monetarism? 00:54:32 - Outro

Your field employees' billable hours generate the revenue for your company. Your office personnel support the field so that they can do their jobs effectively and efficiently. Today I'll cover tracking billable hours and the productivity ratio. These two metrics are critical to ensuring your labor force is productive and profitable. Free P&L Statement and Balance Sheet https://tinyurl.com/2rjd6wxu Ruth King Facebook - https://www.facebook.com/ruthking1650 LinkedIn - https://www.linkedin.com/in/ruthking1/   Podcast Produced by Nick Uttam https://www.linkedin.com/in/nick-uttam-4b33a1147

مرور خبرهای هفتگی مالی با علی ط. ساکی

Daniel Henao, President and CEO of Mineros, said the company expects to make a construction decision on its Porvenir project in Nicaragua in early 2027, with a roughly two-year build to first production. Henao was interviewed by Mining Stock Daily. Henao said Mineros is retaining physical gold and gold-backed receivables on its balance sheet as a long-term strategy rather than converting all production to cash.

Randy Daniels likes to say that UT San Antonio chose him, and it turned out to be one of the best decisions he ever made. From meeting his future wife on campus to earning his degree in finance and beginning his career through an internship, his Roadrunner experience helped shape the leader, entrepreneur and community advocate he is today. In this episode, Randy shares his journey from commercial banking and Merrill Lynch to cofounding JDK Wealth Advisors. He talks about building a business centered on trust, creating opportunities for the next generation and giving back through the JDK Give Back volunteer program. We also discuss his service with the UT San Antonio Alumni Association, the importance of internships and how family, faith and a little moonwalking keep life interesting. Tune in for a fun and inspiring conversation about taking chances, building meaningful relationships and staying invested in the community that helped you get started! Show Notes:UT San Antonio AlumniUT San Antonio MembershipUTSA Football Thanks for tuning in! Don't forget to like, follow, and subscribe for more great content! Birds Up!

Walt Bruns – Group CFO, Sasol Limited SAfm Market Update - Podcasts and live stream

Tonight, we unpack the day's market moves with WealthStrat, examine Shoprite Holdings' latest acquisition, discuss the increase in sugar dollar-denominated prices with Itac, celebrate Sasol's R14 billion profit, explore data-driven farming with Omnia, and, in our Property Insights segment, we take a closer look at where South African homebuyers are investing with Ashley Muller. SAfm Market Update - Podcasts and live stream

In this session, Neil Shoney takes you through the 2-5-5 method of simple ads system that mathematically gives you a 50X higher chance of success and the Exact ad system that's created a six figure month in 22 different home service niches. Free P&L Statement and Balance Sheet https://tinyurl.com/2rjd6wxu Ruth King Facebook - https://www.facebook.com/ruthking1650 LinkedIn - https://www.linkedin.com/in/ruthking1/   Podcast Produced by Nick Uttam https://www.linkedin.com/in/nick-uttam-4b33a1147

مروری بر اخبار مالی، مالیاتی و اقتصادی هفته با علی ط ساکی

AI agents are going rogue — deleting bookings, sending unauthorized emails, and lying about it — and Blake and David trace the trend into the $3 trillion of off-balance-sheet AI commitments hiding in Big Tech's footnotes (and why accountants will get blamed when the bubble pops). They also recap what stood out at XeroCon 2026. Then Hoover Institution fellow Ben Jaros runs the real numbers on California's Prop 40 billionaire wealth tax — why the $100 billion estimate is closer to $40 billion, and whether taxing 200 people is even constitutional.SponsorsCanopy - http://accountingpodcast.promo/canopyThomson Reuters - http://accountingpodcast.promo/taxautomationOnPay - http://accountingpodcast.promo/onpayCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:00) - Welcome to The Accounting Podcast (03:00) - Rogue AI Agents Gone Wild (07:53) - Controlling Agent Permissions (12:08) - Microsoft AI Receivables Surge (14:49) - Three Trillion Off Book Commitments (17:09) - Meta Hyperion Lease Loopholes (21:33) - Bubble Risk and Circular Financing (28:24) - XeroCon Highlights and AI Agents (32:21) - Bank Reconciliation and Roadmap Gripes (34:10) - Conference Vaporware Rant (34:37) - Billionaire Tax Preview (36:33) - Prop 40 Basics (38:40) - Revenue Reality Check (42:44) - Residency Cutoff Drama (45:01) - Wealth Tax vs Income Tax (45:52) - One Time Or Not (46:34) - Healthcare Backfill Claims (51:42) - Better Ways To Tax (55:23) - Constitutional Challenges (58:01) - Why Voters Oppose It (01:02:09) - Trial Balloon And Wrap Up  Show NotesComing soon!Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifieds Flowglad - https://cal.com/team/flowglad/flowgladFearless Foundry - www.advisoryamplified.comExpense Bot - https://www.expensebot.ai/accountantProfitRoot - https://tryprofitroot.com/Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

What happens when a company puts Bitcoin on its balance sheet?In this episode of Corporate Finance Explained, we unpack how Bitcoin and other digital assets are changing corporate treasury strategy, accounting, and risk management, and why companies like Tesla, Strategy, and GameStop have taken dramatically different approaches. For corporate finance teams, holding Bitcoin is much more complicated than simply betting on its price. Companies have to consider liquidity, volatility, funding, custody, counterparty risk, and a major shift in how digital assets flow through financial statements.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Cari Stinebower about sanctions as an enterprise risk management issue. They discuss the holistic view of the maritime space and enterprise risk. They cover aspects of the Terrorism Risk Insurance Act (TRIA) and how insurance companies, brokers, and reinsurers work with the U.S. Government to mitigate terrorism risk.   Listen for advice on keeping your organization compliant with respect to sanctions and terrorism risk.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We will discuss geopolitical risk, sanctions, and TRIA with Cari Stinebower, a partner in the Washington, D.C. office of Steptoe. But first… [:42] RIMS-CRMP Virtual Workshops. RIMS will partner with PARIMA for the RIMS-CRMP on September 1st and 2nd for a two-day virtual workshop. Registration links are in this episode's show notes. [:55] Also on the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers. [1:10] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th. [1:24] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership. [1:34] Webinars: On September 17th, AXA XL returns to present the session, "Beyond the Loss Count: What Property Claims Reveal About Frequency, Severity, and Resilience." [1:46] On October 1st, Brown and Brown will make their RIMS Webinar debut with "The Future of Captives: What Risk Managers Should Think About Now." Visit RIMS.org/Webinars to register. [1:59] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:17] On with the Show! Our guest today is Cari Stinebower. She is a partner at Steptoe in Washington, D.C., and a former U.S. Department of the Treasury and Office of Foreign Assets Control (OFAC) Attorney-Adviser. [2:32] Cari focuses her practice on regulatory risk where U.S. National Security and Foreign Policy objectives intersect with cross-border business. [2:39] We will talk about fraud, money laundering detection, and cybersecurity, and how this can be connected to the Terrorism Risk Insurance Act (TRIA). [2:50] We'll also talk about how international sanctions can impact any organization, and why risk managers should be strategizing now, if they haven't already. There is so much to discuss!  Let's get to it! [3:04] Interview! Cari Stinebower, welcome to RIMScast! [3:24] Cari says she was at OFAC at an interesting time. She came in after a Hill job doing the campaign finance cleanup for the Democrats for three years, from 1996 to 1999. [3:38] Cari says that OFAC sank their teeth into anti-money laundering and the detection of fraud and corruption. When Cari joined Treasury as an analyst within OFAC, they slotted her into a position focused on counter-narcotics work, and also on the Milošević tribunal. [4:03] Cari says there was lots of work to do and not enough staff to do it. Everyone ot OFAC had then, and still has, multiple portfolios. Cari was splitting between Milošević and counter-narcotics work. [4:20] Cari says she spent a lot of time in Colombia working with banks and the Colombian government on anti-money laundering, focused on the cartels. The drug dealers were very sophisticated and were spectacular at establishing front companies and money laundering. [4:54] Cari says it was a very good lesson for what was to come through the counter-terrorism work. The Colombian narcotics traffickers and their front companies were light-years ahead on money laundering techniques and sanctions evasion. [5:44] Cari says in Colombia, at that time, the narcotics traffickers were excellent businessmen. It was such a lucrative career that they had to find ways to wash the cash. They were buying agricultural businesses, tourism businesses, pharmacies; anything they could to launder cash. [6:18] Cari says they could have been fabulous businessmen if they had gone legitimate. She says some of them tried. [6:32] Cari says 9/11 happened, so the world changed overnight. Cari switched from a counter-narcotics focus to a counter-terrorism focus. [6:44] They started chasing the money. Who was the source of the funds? Where was it going? Which financial institutions were involved? Were they doing it knowingly? Were they being used by governments? Were they being used by "charities"? How is it flowing? [7:03] Cari says that became her focus at OFAC for the next five years after 0/11, before she hopped into the private sector. [7:39] Justin asks about sanctions against nations. Cari says the old way Treasury used to do sanctions was by jurisdiction. A jurisdiction would be identified as prohibited, off-limits for U.S persons, meaning individuals and entities. [8:01] Any funds, transactions, or contracts that came into the possession or control of the U.S. person or entity would, by operation of law, be blocked or frozen; the title remained with the sanctioned party, but the U.S. person or entity had to freeze it and report it to the Treasury. [6:26] The original sanctions on Iran were jurisdictional, based on the government, based on persons located within the jurisdiction of Iran. The Department of the Treasury was aggressive in pursuing enforcement actions. [8:44] Financial institutions were sanctioned with multi-million-dollar penalties. The world started to voluntarily comply. It was U.S. driven initially, but European financial institutions and some of the Emirati financial institutions got on board and complied with the sanctions. [9:20] The Departments of the Treasury and Justice used a clause within the underlying statute for the Iran sanctions that allowed penalties to be imposed on non-U.S. financial institutions that were causing a U.S. bank to process transactions on behalf of the sanctioned party. [9:43] That was the line of the European banking cases that came out. Cari says banks were penalized from 2005 through 2015, which pretty much swept in everyone. [9:56] That was the modern buildout of the compliance program where the U.S. established it was applying its sanctions requirements not only to U.S. persons but to non-US. persons where they could also identify a nexus. [10:12] The favorite nexus was the use of U.S. dollars through the clearing system. Sanctions exploded. It was identifying ways to reach non-U.S. parties through the use of dollars, servers located in the U.S., call centers, approvals, or whatever they could, as a hook to get U.S. nexus. [10:51] Justin asks about sanctions against Russia, Iran, and North Korea. Cari says North Korea has sort of fallen off. There's a big focus on North Korea's use of forced labor. They've also been active in cyberspace and ransomware. [11:20] Cari says we don't see North Korea as often as we see Iran, Russia, and, to a certain degree, Cuba. It depends on the administration. For a while, Venezuela was really hot, from an anti-corruption, anti-money-laundering perspective, rather than a sanctioned invasion. [11:46] Justin speaks of the latest AML bill, passed in 2023. Cari says the big overhaul was under the Patriot Act, which updated and modernized the Bank Secrecy Act. It also updated and modernized the International Emergency Economic Powers Act (IEEPA), OPEC's big statute. [12:09] Cari says there have been updates since. When you hear M&A partners or private equity guys talking, they often refer back to the Patriot Act. The Patriot Act becomes this overarching term for updates to the AML laws and regulations. [12:48] Cari says there has been a growing evolution of the anti-corruption, anti-bribery statutes, the anti-money-laundering statutes, the sanctions world, and the adjacents like the whistleblower protections and the Terrorism Risk Insurance Act. [13:09] Cari says all of these components are part of this growing collective focus on upgrading U.S. Government abilities to protect against threats to national security and the economy. [13:32] Justin says risk managers are accustomed to thinking about operational and financial risks, but sanctions can feel like a legal issue. Part of the problem is you may have a legal officer who is not a risk manager or a risk manager who is not a legal officer. [13:48] Justin asks, When should sanctions become an Enterprise Risk Management issue? Cari says, looking at OFAC's enforcement actions, sanctions should always be an Enterprise Risk Management focus. [14:04] It's very easy for the bad guys to take advantage of a business if it's siloed. The easiest way to detect a problem, whether it's financial sanctions evasion or exposure to corruption, is if the enterprise is looking holistically at its business, its counterparties, and its transactions. [14:26] Cari says, when we're working with clients on building a global compliance policy or procedure, we keep telling them that it's better to have a holistic view of the business, customers, and geography. [14:43] Not only geographic risk, customer risk, or service risk, but also across the regulatory schemes. If you have sanctions exposure somewhere in your enterprise, you're also likely going to have an anti-money-laundering issue, a corruption issue, and/or an export controls issue.  [15:06] Cari says when you're building out compliance, you want to have a 1,000-foot view of the business units, your customers, your geographies, and the regulatory components, so that you can take advantage of what you may be seeing in one area. It's silos that cause the problems. [15:26] A Quick Break! Many fantastic RIMS events are coming up in 2026. The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information. [15:42] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [15:59] Save the dates: October 18th through the 21st. In Quebec City, we will be hosting the 50th Annual RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Visit RIMSCanadaConference.ca for more information. [16:16] Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [16:27] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration is open. Visit RIMS.org/ERM2026. [16:40] We're already looking to RISKWORLD 2027, which will be held over four days in New Orleans, Louisiana, from April 18th through the 21st! [16:50] RIMS members can exclusively register by September 4th for the best rate. And get first access to the hotel block. Hotel reservations open on October 28th, ahead of public registration. Sitting this out is the real risk! The link to registration is in this episode's show notes. [17:10] Let's Return to Our Interview with Cari Stinebower! [17:26] Cari says an example of sanctions risk is Iranian oil or Venezuelan oil. Typically, the pattern is you have a Greek shipment manager under charter to deliver oil and gas to China.  The Bill of Lading says the cargo is of Omani origin or Malaysian blend. [18:08] It looks clean. They have all the sanctions exclusions language in the Charter Agreement; the insurers, the reinsurers, and the P&I quotes have all established that the vessel cannot carry Iranian cargo. The documents say it's Omani or Malaysian, and off you go. [18:28] Then you get a call from the U.S. State Department or the Treasury Department saying you've got Iranian cargo on board. The U.S. Government typically knows that because they're using satellite tracking software. They know that the cargo was loaded by ship-to-ship transfer. [18:58] If you go back through the satellite imagery, you can see that it's happened probably two or three times, and when the vessel called on the Omani port that was supposed to be the source of the cargo, it came in at the same draft as it left. Calling on the port was clearly a ruse. [19:34] When you get to the financial payments, that's where you have the money laundering side, and you can see that the Omani seller of the cargo is just a front company with a brand new website, secretly run by the Revolutionary Guard. [19:56] Cari says that when we start talking about the compliance policies and procedures, it's not good enough just to rely on the Bill of Lading. The expectation is that you're going to be doing something a little deeper. [20:11] In 2019, the Department of Justice started to pursue a lot of ship owners and ship managers for carrying Iranian cargo. Sometimes it was Iranian cargo going to Venezuela or going to China. [20:32] In a decent batch of those cases, the ship owners or ship managers would be contacted by the U.S. Government and agree that the Government was right and ask what they could do not to get sanctioned. [20:51] Cari says there were a series of cases where the ships were brought to the U.S. and the cargo was sold by the U.S. Government, with the proceeds going to the Victims of Terrorism Fund, for parties who registered with the Special Master and were entitled to a pro rata share. [21:20] That was the U.S. Government's solution to what to do with all this cargo that they can seize, and they had been seizing, under the Foreign Terrorist Organization Statute. We're now seeing the same focus on the narcotics trafficking cartels in Mexico, Brazil, and Venezuela. [21:46] Cari says, You see the evolution of the U.S. Government's thinking over the years, how the Iranian oil cases are now relevant to countering narcotics trafficking caused by the cartels in South America. [22:00] Justin asks about supply chain risk and sanctions-related risks companies may overlook when they evaluate suppliers. Cari says the supply chain, particularly when you're dealing with raw materials or manufacturers coming out of China, has been an issue for a long time. [22:29] Cari says it's not difficult for a U.S. importer who's bringing in parts and components for widgets to know that their manufacturer or warehouse in China is who they say they are. That's easy enough. [22:48] Where we see issues is when the Chinese manufacturer subcontracts to second or third parties, who ostensibly are also compliant, but it becomes difficult in a more opaque jurisdiction like China to do the tracing down to the actual mine or source of the raw materials. [23:14] That leads up to the Uyghur Forced Labor Prevention Act (UFLPA), which has forced companies to look at supply chains where there's a Chinese component, for several years. [23:31] Where are the raw materials coming from? Do you know where all of the raw materials are coming from, or do you just know where some are? Under the UFLPA, companies were particularly focused on identifying those risks in China. [23:50] Cari says, under the first Trump Administration, and under the Biden Administration, you started to see a lot of companies moving away from sole-sourcing goods from China, specifically because of that risk. [24:02] The National Drug Control Strategy Report that came out in May 2026 is digging deep into supply chain issues. [24:13] It says two things: first, that the U.S. Government needs to act as a whole. The Departments of Justice, Treasury, and Homeland Security need to work together on tackling supply chain issues and addressing where the gaps are. [24:35] Supply chains are being exploited, not only by narcotics traffickers, but across the board. [24:41] The report is also telling businesses that it's not enough to have an OFAC sanctions compliance program where you screen your counterparties against the SDN list. [24:54] There's an expectation for businesses to go deeper, using analytics and AI, looking at their records, and knowing who the suppliers of their suppliers are. [25:17] The expectation is for businesses to step up their game, but also for the U.S. Government to partner with businesses to figure out how to do that. [25:35] Cari says we've also been telling other jurisdictions, like those in the Caribbean and South America, that this is a really good opportunity. [26:44] The first Trump Administration, the Biden Administration, and the second Trump Administration have said to stop sole-sourcing in China. Let's near-shore and friend-shore, and let's bring business and infrastructure back to the Western Hemisphere. [26:00] Cari says we're starting to see jurisdictions offer tax incentives for setting up manufacturing spaces, or finding ways to invest in the United States to bring back manufacturing. [26:14] Cari says the big issue of late has been how to bring shipbuilding back to the United States. Is there a way to do it in Latin America without relying on China as the major shipyard? [26:29] Those issues are interesting because they trigger a series of other questions: cost of labor, sourcing raw materials, and more. It's a longer-term problem. If you're building out your supply chain nose-to-tail, it's going to require a more transparent jurisdiction than China. [26:52] One more Quick Break! RIMS, The Foundation for Risk ManagementTM, is dedicated to shaping the future of the profession. By making a contribution, you are strengthening the global risk management community and investing in the future of the industry. [27:11] The Foundation also supports the Spencer Educational Foundation but has a different mission. The Foundation focuses on providing opportunities for those professionals who have already decided to enter risk management and are just getting started. [27:26] You can learn more about the Foundation by visiting www.RIMS.org/FRM.  While you're there, be sure to check out information about the Susan Meltzer Scholarship Fund, which was established to honor Ms. Meltzer, who was RIMS President in 1999 and 2000. [27:44] Susan Meltzer was a cherished RIMS President and contributed so much to RIMS and the greater risk community. Learn more at RIMS.org/FRM. [27:53] Let's return to our interview with Cari Stinebower! [28:14] Justin asks if other countries sanction the United States or U.S. companies. Cari says it has become a new trend. The jurisdictions doing it are China, with the National Security Law; Russia, identifying Hostile Jurisdictions that have imposed sanctions against Russia. [29:12] Cari says it's a quid pro quo. Ukraine has a sanctions program against entities that do business with Russia. Canada and Europe are well-known for their Blocking Statutes. [29:48] They have Antidote Sanctions that prohibit their nationals from complying with the U.S.'s Cuba Sanctions. Those jurisdictions see the U.S. sanctions on Cuba as territorial. There is a quid pro quo. [30:08] Sometimes it triggers conflict-of-law issues, and companies have to decide how and when they're going to comply with which set of sanctions. [30:46] Cari says, if you don't have a holistic view of which jurisdictions you're operating in, and where your U.S. nationals are located, there's no way to build out a robust, comprehensive sanctions program. [31:01] If you have a U.S. person located in or in a business position in Canada, you wouldn't want them dealing with the Canadian company's Cuba business. You need to know where they are located in advance so you can protect the U.S. person. [31:27] Justin notes that RIMS is a global society. Canada is the second-largest RIMS membership base. [31:40] Justin says there's so much due diligence to be done. You have to vet the company you're going to be doing business with and do your second- and third-tier supply chain risk management deep dive to make sure that everything is above board. [32:02] Cari says there are many examples where the Canadian Government has aggressively stepped up its sanctions components. The Canadian sanctions on Russian targets may be more aggressive than the U.S. or EU sanctions on Russia. [32:19] If you have a financial institution or insurance company based in Canada, but operating in the U.S. and the EU, because they're complying with the Canadian sanctions, they're blocking transactions that a U.S. party wouldn't have to block. [32:44] You want to know what the entire web of sanctions regulations is before you figure out who your business parties are and how you're going to navigate something. [32:55] Justin surmises that a small company without a dedicated risk professional would need to reach out to a company like Steptoe. Cari agrees; a lot of people will use a law firm and a consultant to build out their compliance programs or to do the risk analysis. [33:13] Cari says, then they will either find someone in-house or outsource it to a consultant or a specialist to keep costs down. [33:23]  Cari says, we also see this pop up in Mergers & Acquisitions. One of the things that is often difficult is that they will see the compliance function either as redundant or as a cost center, and not as a profit center. [33:47] The guidance is always: Don't save costs by getting rid of your Compliance function, because it will cost you money in the long run. But often, that is what you will see. [34:00] Justin brings up the Terrorism Risk Insurance Act (TRIA), a legislative priority for RIMS. RIMS sends an External Affairs Team to Capitol Hill every year to talk about TRIA with their Representatives in Congress. [34:19] Justin says RIMS helped lead the charge, over 20 years ago, to get TRIA passed into law. [34:30] The nature of terrorism risk has evolved since TRIA's enactment. Justin asks how risk managers should be thinking about terrorism exposure today, compared to when the program was established. [34:44] Cari says terrorism, like the narcotics traffickers, evolves. It's cash-intensive. There's more you can do now through technology, AI, cybersecurity, and cryptocurrency. [35:01] You can sit completely offshore and wreak havoc on the electrical grid or a utilities provider, or a financial institution, through cyberattacks or cybercrimes. It can be crippling if terrorists go after the grid. [35:28] Cari says we have seen an overlap between what could be a terrorist attack and what is more likely a ransomware grab, when they're going after smaller utilities located somewhere in the Midwest. That seems to be a trend. [35:45] They're not always sophisticated. You don't always know who the counterparties are. Going back to the Drug Control Strategy report, the Government is saying that there has to be a holistic approach to ransomware and cyberattacks. [36:03] A couple of years ago, the FBI and Homeland Security set up a task force to work with the utilities or other U.S. businesses that see themselves faced with a ransomware attack that is either just for the money or is something more nefarious. [36:24] Cari says, if the question is, is it terrorism or is it something else, but the way you would attack it would be the same if you're the utilities manager; it doesn't matter if it's terrorism or cybercrime. [36:48] You've got to work with law enforcement to protect your infrastructure, to figure out whether you're going to pay the ransom or not, so that you can protect your customers' data. [37:02] It's up to the Government to figure out who the illicit party was. Is it a hacker group sitting in Russia? Is it a terrorist group? Why were they doing it, and how do you stop it from happening in the future? [37:18] If you're the Business Manager or the Compliance Officer, you need to build in your risks, your risk mitigation strategies, redundancies, and backup servers that are not connected. The problem for you isn't: Is this a hacker or a terrorist doing this to me? [37:53] Cari says there are many insurance working groups. We've worked with clients, some of these groups, and the U.S. Government to come up with language that makes sense. We see it in the context of Iran or Russia, or with respect to language for War Risk in the Strait of Hormuz. [38:32] Cari says, The partnership between the insurers, reinsurers, brokers, and Government is pretty deep. [38:41] These working groups have been around for a long time because insurers, brokers, and reinsurers need buy-in from the Government to get assurances that the language they're putting out there is enough to get them out of trouble if they're acting in good faith. [39:00] Generally, everyone is, but you want that nod from the Government that what you've done is sufficient from the Government's perspective. [39:37] Cari's advice to risk professionals in August 2026: The most important thing is that the risk professionals and the business units know and trust each other. [39:47] Cari continues: A risk professional isn't going to be able to build out a compliance program that works unless they know what the business units are up to and what the business priorities are, and they have the trust of the business professionals. [40:05] Some critics warn that you don't want the compliance person to become a captive of the business units, driven by profit rather than compliance. Cari says the business compliance person needs the business unit and the compliance unit to work hand in glove. She explains it. [40:46] Cari says we've seen this a lot with all of these businesses jumping into the Venezuela market. There's a lot of business upside but also a lot of risk. It may not be that there's a sanctions risk, but the longer-term risks are the money-laundering and corruption risks. [41:26] Cari asks what happens ten years from now? If you're a compliance officer, you need to understand the upside to the business, which is lots of profit, but when you're drafting contracts and working with the business unit, how are you mitigating the risk that's five or 10 years out? [41:44] Cari says the only way you do that is if the compliance and business units have a certain amount of trust and respect for each other. [41:57] Cari says the Compliance Officer is not always the Risk Manager. Some businesses will have it siloed; some will have someone embedded. In some cases, there's no compliance person. They throw it onto a legal officer, and the legal officer can be spread fairly thin. [42:13] Cari says you can work through trade associations to understand industry risk. You can hire consultants. You can hire law firms. The benchmarking is incredibly important to understand not only the opportunity but also the appropriate risk. [42:49] Justin says this has been one of the most informative RIMScasts we've had in a while. I'm so glad we got a chance to tackle this topic. Cari, thank you so much for joining us here on RIMScast! [42:45] Special thanks again to Cari Stinebower of Steptoe for joining us here on RIMScast! A link to her LinkedIn profile is in this episode's show notes. [42:58] I have links on this episode's show notes to other RIMS coverage on sanctions, geopolitical tensions, and related supply chain risk. Also visit RMMagazine.com. [43:08] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [43:26] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [43:42] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [43:56] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [44:08] Practice good risk management, stay safe, and thank you again for your continued support!   Links: Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026 ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Certification Week: Sept. 21‒24 | Complimentary For All RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today. RIMS Canada Conference — Oct. 18‒21, 2026 | Quebec City | www.rimscanadaconference.ca | Sponsorship Opportunities Available RIMS ERM Conference 2026 | November 19‒20 in Columbus, Ohio | Registration Now Open! | www.rims.org/ERM2026 | RISKWORLD 2027 Registration | RIMS members can lock in 2026 rates now through Sept. 4 RIMScast Canada — Episodes Now Live — Watch the new video with Sophie Grégoire Trudeau. The Strategic and Enterprise Risk CenterRIMS, the Foundation for Risk Management Spencer Educational Foundation — Scholarships and Grants | Open Calls and Timelines. RIMS Now RIMS-Certified Risk Management Professional (RIMS-CRMP) | Insights Video Series Featuring Joe Milan! RIMS Diversity Equity Inclusion Council RIMS-CRMP Stories RISK PAC | RIMS Advocacy RIMScast on YouTube! RIMS Risk Management Magazine | Contribute | Q2 2026 Issue Now Available Sponsor RIMScast — Sales@RIMS.org Cari Stinebower — Biography page Cari Stinebower on LinkedIn Upcoming RIMS-CRMP Virtual Workshops: RIMS-CRMP Exam Prep with PARIMA | Sept 1‒2 Full RIMS-CRMP Prep Course Schedule See the full calendar of RIMS Virtual Workshops   Upcoming RIMS Webinars: RIMS.org/Webinars "Beyond the Loss Count: What Property Claims Reveal About Frequency, Severity, and Resilience" | Sponsored by AXA XL | Sept. 17, 2026 "The Future of Captives: What Risk Managers Should Be Thinking About Now" | Sponsored by Brown & Brown | Oct. 1, 2026 "RIMS Student Series: Classroom to Career Part 1" | Sept 1 "RIMS Student Series: Classroom to Career Part 2" | Sept 9 RIMS Certification Week: Sept. 22‒24 | Complimentary For All   Related RIMScast Episodes: "Mid-Year Risk Roundup 2026 with Morgan O'Rourke and Hilary Tuttle" "Money Laundering Risks with Crystal Trout" (2025)   Sponsored RIMScast Episodes: "48 Hours From a Storm: What to Do Before A Hurricane Strikes" | Sponsored by Global Risk Consultants, a TÜV SÜD Company (New!) 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RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Manny Padilla!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Cari Stinebower, Partner, Steptoe   Production and engineering provided by Podfly.

If your business is like most businesses your ads fail. In this first of a two part series, Neil Shoney tells you why they fail and what you can do about them. Then you can have a real return on the advertising dollars you invest. Free P&L Statement and Balance Sheet https://tinyurl.com/2rjd6wxu Ruth King Facebook - https://www.facebook.com/ruthking1650 LinkedIn - https://www.linkedin.com/in/ruthking1/   Podcast Produced by Nick Uttam https://www.linkedin.com/in/nick-uttam-4b33a1147

Jackie van Niekerk, newly appointed chair of the South African Real Estate Investment Trust Association and CEO of JSE-listed Attacq Limited, notes despite global uncertainties, inflation, and interest rate volatility, the sector has maintained access to capital markets and continues to show potential for growth. Podcast series on Moneyweb

پادکست هفتگی مروز اخبار مالی با علی ط. ساکی

On this episode of What Are Your Thoughts, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Downtown Josh Brown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ break down what's driving the global bond selloff, why pressure has shifted from the front end of the yield curve to long-term rates, and what it could mean for investors. Plus: Big Tech's massive off-balance-sheet AI commitments, whether the bottom is finally in for enterprise SaaS after the Workday takeover reports, a market that keeps going all the way up, and a look inside Bill Ackman's evolving Pershing Square empire and his search for permanent capital. This episode is sponsored by Franklin Templeton. Learn more at https://www.franklintempleton.com/advantage Sign up for ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Compound Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and never miss out! Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://instagram.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/company/the-compound-media/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.tiktok.com/@thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠⁠ Franklin Templeton Disclosure: Before investing, carefully consider a fund's investment objectives, risks, charges and expenses. You can find this and other information in each prospectus, or summary prospectus, if available, at franklintempleton.com. Please read it carefully. All investments involve risk, including possible loss of principal.  © 2026 Franklin Distributors, LLC. Member FINRA/SIPC. Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill Nelson is chief research officer and chief economist at the Bank Policy Institute and a former deputy director of the Division of Monetary Affairs at the Federal Reserve Board. In Bill's 11th appearance on the show, he discusses how central banks are rethinking their operating systems, the case for a smaller Fed balance sheet and more routine discount window borrowing, the revival of interbank markets, lessons from Silicon Valley Bank, and much more. Watch the full length video on our new YouTube Channel! Check out the transcript for this week's episode, now with links. Recorded on July 20th, 2026 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Timestamps 00:00:00 - Intro 00:01:29 - Bill's Work with Central Banks Abroad 00:11:03 - Reducing the Fed's Balance Sheet 00:30:28 - Fed's Use of a Demand-Driven System 00:40:40 - Voluntary Reserve Target 00:54:31 - Outro

This episode is sponsored by Fidelity Investments and the all-new Fidelity Trader+ platform. Try Fidelity's most powerful trading experience yet: https://Fidelity.com/TraderPlus Fidelity Investments and MRKT Call are not affiliated. Views, opinions, products, services, and strategies discussed are not endorsed or promoted by Fidelity Investments. Fidelity Brokerage Services LLC, Member NYSE, SIPC. SUBSCRIBE to our newsletter: http://riskreversal.substack.com/ Dan Nathan & Guy Adami down the top market headlines and bring you stock market trade ideas for Monday, August 17th. Articles Mentioned Anthropic investors bet on $2tn valuation in record IPO (FT) Why Big Tech's AI Spending Is $3 Trillion Higher Than It Seems (WSJ) Nvidia Nears Deal to Guarantee Roughly $100 Billion in Credit for OpenAI (The Information) -- Learn more about FactSet: https://www.factset.com/lp/mrkt-callFollow us on Twitter @MRKTCallFollow @GuyAdami on TwitterFollow @CarterBWorth on TwitterFollow us on Instagram @RiskReversalMediaLike us on Facebook @RiskReversalWatch all of our videos on YouTube Learn more about your ad choices. Visit megaphone.fm/adchoices

What if you had financial freedom? What if your business was incredibly profitable, had enough cash to cover any emergency, and you could retire wealth? This is possible for you. My guest, Chad Hufford is a financial planner and coach who helps blue-collar professionals and entrepreneurs translate business income into personal wealth, long-term clarity, and financial resilience. It all starts with mindset. He'll help you get your mindset going in the right direction so that your financial freedom plan becomes a reality. Free P&L Statement and Balance Sheet https://tinyurl.com/2rjd6wxu Ruth King Facebook - https://www.facebook.com/ruthking1650 LinkedIn - https://www.linkedin.com/in/ruthking1/   Podcast Produced by Nick Uttam https://www.linkedin.com/in/nick-uttam-4b33a1147

بالانس شیت: مروری بر اخبار مالی، مالیاتی و اقتصادی در هفته گذشته با علی ط. ساکیموضوع این هفته: مالیات پیدا و پنهان!

A Bit of a Surprise for Corn and Sorghum Balance Sheets Numbers from Wheat and Soybean Reports More Hot Kansas Weather   00:01:05 – A Bit of a Surprise for Corn and Sorghum Balance Sheets: A slightly surprising WASDE report is what K-State grain economist, Daniel O'Brien, and the senior economist at the IGP Institute, Guy Allen, begin today's show discussing. They talk about corn and grain sorghum in the first segment.   00:12:05 – Numbers from Wheat and Soybean Reports: Daniel and Guy keep the show rolling as they explain what changes the reports showed for wheat and soybeans. Daniel on AgManager.info   00:23:05 – More Hot Kansas Weather: K-State meteorologist Chip Redmond wraps up the show with his weather forecast where he explains if we will get a break from the summer heat and if it will only be temporary.      Send comments, questions or requests for copies of past programs to ksrenews@ksu.edu.   Agriculture Today is a daily program featuring Kansas State University agricultural specialists and other experts examining ag issues facing Kansas and the nation. It is hosted by Shelby Varner and distributed to radio stations throughout Kansas and as a daily podcast.   K‑State Extension is a short name for the Kansas State University Cooperative Extension Service, a program designed to generate and distribute useful knowledge for the well‑being of Kansans. Supported by county, state, federal and private funds, the program has county Extension offices statewide. Its headquarters is on the K‑State campus in Manhattan. For more information, visit Extension.ksu.edu. K-State Extension is an equal opportunity provider and employer.

For this #GWIC roundtable episode, Lisa Fine and Ellen Hunt spoke with two renowned experts, Francine McKenna and Ursula Schmidt, about what Ethics & Compliance professionals should learn from recent accounting firm scandals in Australia. Listen in as our guests help us unravel: why similar scandals keep happening, how the incentives and pressure at play in these scandals are universal, the important role that culture plays, how auditors and others should live up to their professional standards, and why we still ignore those that bring issues forward. There are lessons in these scandals for every #Ethics and #Compliance professional on how to improve your culture and program. A huge thank you to Francine and Ursula for sharing their insights, expertise, and wisdom with us.

In the Macro MATTers podcast, Matthew Luzzetti (Chief US Economist) and Matthew Raskin (Head of US Rates Research) discuss recent events moving markets.In this episode, they discuss the upcoming Fed task force on the balance sheet with Patricia Zobel, Head of Macroeconomic Research and Market Strategy at Guggenheim Investments and formerly Deputy Manager and Manager pro tem of SOMA at the Federal Reserve Bank of New York.

Send us Fan MailBonus episode # 99: Your P&L says you're profitable, but the bank account keeps hovering near empty, so what's actually happening? I walk through the gap between profit and cash and why small businesses can look healthy on paper while still running out of money. Cash flow is the fuel that keeps operations moving, and when you don't manage the timing of cash in and cash out, even a “good” month can turn into a scramble to cover payroll, rent, taxes, and loan payments.Please connect with me on:1. Instagram: stephen.mclain2. Twitter: smclainiii3. Facebook: stephenmclainconsultant4. LinkedIn: stephenjmclainiiiFor more resources, please visit Finance Leader Academy:  financeleaderacademy.com.Support the showStephen is an experienced Finance Professional and Leader who offers fractional CFO services and development opportunities. Please visit his LinkedIn profile or Finance Leader Academy for more information.The views and information shared on The Finance Leader Podcast are intended solely for educational and informational purposes. They do not constitute financial, accounting, tax, legal, investment, or other professional advice. Always seek guidance from a qualified professional before making decisions related to your specific circumstances. 

Gianluca Benigno is a professor of economics at the University of Lausanne. Previously, he was a senior economist at the Federal Reserve Bank of New York and an economist at the Bank of England. Gianluca returns to the program to discuss financial r-star, the changing landscape of central bank balance sheets, the unique challenges facing the Swiss National Bank, how stablecoins could affect Treasury markets and the demand for reserves, the return of nonlinear inflation, its implications for monetary policy, and much more. Watch the full length video on our new YouTube Channel! Check out the transcript for this week's episode, now with links. Recorded on June 22nd, 2026 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow Gianluca Benigno on X: @BenignoGianluca Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Timestamps 00:00:00 - Intro 00:01:41 - R-Double-Star 00:04:10 - Central Bank Balance Sheets 00:09:22 - Swiss National Bank 00:32:05 - Working Paper on the Regulation of Stablecoins 00:45:41 - Inflation 00:53:19 - Outro

In this episode we'll talk about:Why some of life's highest-return investments can't be measured financiallyWhat Solomon's prayer for wisdom teaches us about building and stewarding wealthWhy character quietly compounds into opportunities, trust, and long-term successHow relationships create a form of wealth money could never replaceWhy investing in your health expands your ability to actually experience the life you're buildingHow redefining investment can help you build a life that's wealthy both on and beyond the balance sheetAnd more… START HERE…→ Join The Niche Is You® — my Substack (20K+) — Weekly essays, the full workshop library, the private community + the Quarterly Challenges. → https://mattgottesman.substack.com/aboutNEW HERE…→ 6 Days to Clarity Workshop — clarity for your time, energy, money, creativity, work & play. → https://mattgottesman.com/reverse-engineer-your-life (FREE)CONNECT WITH ME…→ Instagram — @mattgottesman→ TikTok — @mattgottesman→ YouTube — @mattgottesmanRESOURCES…→ Write • Design • Build — my Content Creator Studio & OS masterclass (Included when you join my Substack) — Growing the niche of you, your audience, reach, voice, passion & income — CLICK HERE→ Recommended Book List — CLICK HERE→ Apparel — thenicheisyou.comOTHER RELATED EPISODES:Faith Isn't Knowing the Whole Path… It's Taking the Next Honest StepApple: https://apple.co/3MB62IuSpotify: https://bit.ly/4rZw3RN

Which is better: Word of mouth or paid ads? My guest, Chris Fresh, says that word of mouth still beats paid ads. Chris is the founder of the Plumbing Sales coach. His philosophy is “always be serving” which has help technicians communicate better, provide a better customer experience, and increase your company's profitability. He'll tell you why word of mouth is better and how to make it a reality in your company. Free P&L Statement and Balance Sheet https://tinyurl.com/2rjd6wxu Ruth King Facebook - https://www.facebook.com/ruthking1650 LinkedIn - https://www.linkedin.com/in/ruthking1/   Podcast Produced by Nick Uttam https://www.linkedin.com/in/nick-uttam-4b33a1147

مروری بر اخبار مالی در هفته‌ای که گذشت با علی ط ساکی

When the accountant sent these books back as unusable, and three previous bookkeepers had all called them clean, our favorite Bookkeeping Mensch, Paul Rosenblum,  knew this cleanup would take a lot of time. Now he's deep into it and the books are starting to come together.Picking up where Part 1 left off, Paul walks through the hands-on work of the last several weeks: two of six tangled credit cards now fully reconciled through 2025, months of "buy now, pay later" purchases separated out from cost of goods sold, and adjusting entries created to make beginning-of-year balances finally match reality.Along the way, he uncovers a compliance issue that goes beyond typical cleanup: one business partner had been running a separate, wholly-owned LLC that was billed as a subcontractor to the company. This is something that the IRS doesn't allow when that partner also owns a stake in the business being billed. With the profit and loss nearly finished, Paul turns to the balance sheet: sorting out the equity split between two partners, tracking down company assets and home-office expenses that were never recorded, and weighing a tricky judgment call on categorizing meals between business partners, all against unclear new 2026 rules on meal deductions.This is a grounded look at what it actually takes to turn a multi-year mess into books a tax preparer can trust. No shortcuts, and no AI required.Part 1: https://pod.link/1688000860/episode/QnV6enNwcm91dC0xOTUwMjg1NQSend us Fan MailSupport the showAbout the hostPaul Rosenblum has been doing hands-on bookkeeping for over 30 years, starting with QuickBooks Desktop and adapting to the world of cloud-based QuickBooks Online. He shares practical, in-the-weeds lessons from real client files every episode.

With the change in leadership at the Federal Reserve, investors are paying greater-than-usual attention to the outlook for short-term funding markets, money-market funds and the central bank's balance sheet. Laurie Brignac, head of global liquidity at Invesco, joins Bloomberg Intelligence interest rate strategists Ira Jersey and Will Hoffman to discuss this and more on this Macro Matters edition of the FICC Focus podcast. Brignac explains why lending excess Treasury General Account balances into the repo market may create more operational risk than income, and why shrinking the Fed's balance sheet would require changes to bank liquidity regulations before reserve balances can fall significantly. The group also examines whether the Fed should return to traditional temporary open-market operations, how stigma continues to limit use of standing liquidity facilities and where Invesco sees value across Treasury bills, commercial paper and ultra-short strategies. They close with a discussion of institutional and retail money-fund flows, the market's capacity to absorb growing bill issuance and what investors should watch as the Fed's task forces review its communications, data and balance-sheet frameworks. The Macro Matters podcast is part of BI's FICC Focus series.

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

The AI tsunami is here. How do you start…productively getting what you want and need out of AI? My guest, Rudy Poe, teaches contractors how to go from an “AI stranger” to a confident daily partner, giving you the skills that last a lifetime. Free P&L Statement and Balance Sheet https://tinyurl.com/2rjd6wxu Ruth King Facebook - https://www.facebook.com/ruthking1650 LinkedIn - https://www.linkedin.com/in/ruthking1/   Podcast Produced by Nick Uttam https://www.linkedin.com/in/nick-uttam-4b33a1147

مرور اخبار مالی، اقتصادی و مالیاتی در هفته گذشته با علی ط. ساکی

Yields under pressure. Leverage on the rise. Fitch dives into the growing use of off-balance-sheet financing among Business Development Companies (BDCs) and what it signals for credit risk ahead.

The challenges of growth. You might assume that growth can be fixed by hiring more people, marketing, changing software, adding more trucks, and the other conventional things you might do as you grow. My guest, Jenny Benbrook, has shown why doing these things doesn't solve the problem. She'll give you the real answer to grow profitably and productively. Jenny is a previous Contractor Cents guest. In her previous episode she discussed whether you need all the software you have. Free P&L Statement and Balance Sheet https://tinyurl.com/2rjd6wxu Ruth King Facebook - https://www.facebook.com/ruthking1650 LinkedIn - https://www.linkedin.com/in/ruthking1/   Podcast Produced by Nick Uttam https://www.linkedin.com/in/nick-uttam-4b33a1147

July 23, 2026 Betting on People, Not Balance Sheets W/ Bryan Peters (DT 463) Bryan Peters is the founder of AdvanceTrac Equipment, a construction equipment rental company he built from a single used skid steer in 2021 while working a full-time job, and a former operator in the family equipment business that first lit his entrepreneurial fire at age 14. He walked away from a comfortable salary, went all in on his own company, and spent a year navigating far more uncertainty than he expected before the business finally found its footing. He reveals why construction's fragmentation isn't the industry's liability but its greatest asset, and why the only way to fix a broken industry isn't through institutional capital or consolidation but through small businesses that choose to pour into their people instead of chasing a number on a balance sheet. Follow Bryan on LinkedIn at: https://www.linkedin.com/in/bryan-peters-095a2745/ Learn more about AdvanceTrac Equipment at: https://www.advancetrac.net/ Want to better develop your civil construction workforce and leaders? Check out BuildWitt Improve! https://buildwitt.com Questions or feedback? Email us at dirttalk@buildwitt.com! Learn more about your ad choices. Visit megaphone.fm/adchoices

What is Nvidia actually worth? You could look at their factories, their hardware, their staff. But their most valuable assets — the patents, the processes, the institutional knowledge — don't appear anywhere on their balance sheet. And Nvidia is not an exception. Research from Stanford and Chicago Booth, covering 21,000 M&A transactions worth $15 trillion, shows that intangible assets now account for over half the total value of acquired companies. Customer data alone totals over $1.1 trillion!  Here's what this means for you: the most valuable things your organisation owns are probably invisible too — and if you're not actively investing in them, they are quietly decaying. Listen to this episode to learn: Why the standard ways of measuring company value are systematically misleading us What the research actually shows — and why it should change how you think about your own organisation Why intangible assets decay if you don't actively invest in them What corporate leaders should be asking about their brand, customer data and institutional knowledge right now Why founders who ignore intangible assets while building their product are making an expensive mistake This episode is for you if: You are a corporate leader trying to make the case for investing in brand, data or customer insight You are a founder who wants to build something that is genuinely hard to replicate You want to understand where real value is created in the age of AI Book a free consulting session with Sophia: https://calendly.com/sophia-matveeva/sample-consulting-session-2026  Read the full Chicago Booth Review article here: https://www.chicagobooth.edu/review/nvidias-most-valuable-asset-is-not-on-its-balance-sheet Timestamps 00:00 – The hidden asset behind NVIDIA's valuation 02:15 – Chicago Booth's research on intangible assets 04:35 – Why 70% of companies are undervalued 06:50 – NVIDIA's real moat: patents no one sees 09:15 – Fixing your company's intangible assets 11:35 – Free consulting session offer 13:55 – Key takeaways for founders and investors  Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Listen to our podcast on: Apple Spotify YouTube Audible Pandora Transcript: https://www.techfornontechies.co/blog/313-nvidia-s-most-valuable-asset-is-not-on-its-balance-sheet

In this episode of the Crazy Wisdom Podcast, host Stewart Alsop speaks with Aaron Neyer, founder of Parachute and community organizer in Boulder, about knowledge management, extended minds, and the intersection of AI with human consciousness. They explore how Parachute functions as a digital brain tool for organizing thoughts and information across fragmented systems, discuss the dangers of AI psychosis and over-reliance on technology, and debate open source AI development versus controlled releases by companies like Anthropic. The conversation weaves through topics including the limitations of metrics-driven business thinking, consciousness and relevance realization, the value of technological sabbaths, and Aaron's hope for locally-run open source models that protect personal data while still accessing more powerful gated models when needed. You can find Aaron's writing at unforced.org and unforced.substack.com, and learn more about Parachute at parachute.computer and parachute.computer/blog.Timestamps00:00 Stewart welcomes Aaron Neyer, founder of Parachute and Boulder community organizer, discussing the origin of Parachute's name from Frank Zappa's quote about open minds.05:00 Aaron explains Parachute as an extended mind tool for organizing notes, contacts and information across multiple platforms, emphasizing the distinction between primary mind and extended mind as interconnected systems.10:00 Discussion shifts to metrics-driven business culture and the limitations of pure rationality, exploring how Google's data-driven approach misses subjective experience and the whole picture of relationships.15:00 Aaron discusses AI's ability to help identify relevant variables across different domains and the dangers of AI psychosis, comparing it to cult dynamics and belief systems.20:00 The conversation covers AI sabbaths and nineties retreats as intentional breaks from technology, plus Aaron's experiences with electrical engineering and using AI to design circuits with Arduinos.25:00 Exploring forbidden knowledge and open source AI, Aaron discusses Anthropic's guardrails around powerful models while arguing for distributed access to prevent concentration of power.30:00 Deep dive into open source AI strategy, with Aaron highlighting NVIDIA's approach and the potential for running capable models locally while reserving ultra-intelligent models for complex research tasks.35:00 Aaron shares his vision for local Sonnet-class models handling personal data while accessing Fable-class models for deep research, and directs listeners to unforced.org and parachute.computer for his writing.Key Insights1. The philosophy behind Parachute stems from Frank Zappa's quote that the mind is like a parachute and doesn't work if it isn't open. Aaron Neyer explains that having an open mind is valuable, but it must be balanced with deep roots to avoid becoming untethered. He has experienced periods in his life where excessive openness led him to feel disconnected, teaching him that creativity and expansion need to be grounded in something substantial. This same principle applies to how we organize information digitally, where openness and interoperability allow our extended minds to become more connected and coherent, which in turn helps our primary minds think more clearly.2. Parachute is designed as an extended mind tool that addresses the fragmentation problem in how we currently manage information. Most people use multiple disconnected tools like Obsidian, Notion, Apple Notes, Google Keep, and various CRMs to organize their thoughts, notes, and relationships. These systems don't communicate well with each other, creating inefficiency and confusion. Parachute aims to create a simple, intuitive system where all this information can be organized in one place with true interoperability, allowing users to own their data and have it speak effectively with other tools, ultimately making our entire extended mind more functional.3. Understanding ourselves as unified body mind organisms rather than fragmented parts is essential for effectiveness. Living systems theory shows that any living system is three things: a membrane bound dissipative structure, a self regulating autopoietic network, and a cognitive process actively knowing the world. Western civilization since Descartes and Galileo has created artificial separation between body and mind, and between subjective and objective experience, which limits our effectiveness. The same fragmentation affects our digital technology, and recognizing both our biological and digital systems as coherent wholes rather than disconnected parts makes us vastly more capable.4. The relationship between data driven approaches and holistic thinking reveals important limitations in modern business and science. While working at Google, Aaron observed how data driven decision making can be powerful, but over reliance on metrics like ROI creates blindness to crucial unmeasurable factors like goodwill and relationship quality. This reflects a broader Western tendency to exclude subjective experience because it's difficult for objective science to measure. However, emotions, relationships, and other subjective elements are essential parts of reality, and focusing only on quantifiable metrics means missing the whole picture and ultimately becoming less effective despite appearing more rational.5. AI accelerates the ability to work with technical complexity by helping with relevance realization across domains where we lack expertise. In any specialized field, experts develop intuitive senses for which variables matter and can quickly identify problems, whether in computer troubleshooting, music, or cooking. AI's ability to generalize allows it to point people toward relevant solutions in areas where they haven't developed that intuitive expertise, effectively democratizing technical capability. This means people can direct their creativity more effectively across more domains, though it also raises concerns about giving powerful capabilities to those who may lack the wisdom to use them responsibly.6. The question of open source AI versus gated access involves complex tradeoffs between democratizing power and preventing harm. Aaron respects Anthropic's approach of creating guardrails around powerful models like Mythos, which would likely have caused significant system hacks if released without restrictions. However, this creates concerning power dynamics where only wealthy companies, governments, and their allies have access to the most powerful tools. NVIDIA offers hope through their truly open source approach including full training pipelines, and there may be a viable path where open source models at the Sonnet capability level handle most tasks locally while more powerful Fable class models remain gated for the most demanding work.7. Creating intentional breaks from AI and technology is essential for maintaining clear independent thinking. Aaron practices an AI Sabbath at least one day per week when he doesn't interact with AI, and he finds these are the days when he does his best thinking and journaling. Without these breaks, he finds himself constantly jumping between journaling and prompting AI rather than giving himself space for deep reflection. This pattern mirrors broader concerns about AI consistency creating cult like dynamics similar to organized religion, where constant immersion in a belief system or technology can lead to losing the ability to think independently, making periodic disconnection crucial for maintaining cognitive autonomy and clarity.

What does a top venture investor think about AI's impact on accounting, and what should finance professionals actually do about it?In this episode of Blood, Sweat & Balance Sheets, FloQast CEO Mike Whitmire sits down with Roy Luo, General Partner at ICONIQ Capital — an investor in Anthropic, Snowflake, Databricks, and Stripe — to break down what the AI wave really means for the accounting profession.They cover:Why accounting is facing a talent shortage that AI is uniquely positioned to solveHow the shift to AI mirrors the Excel revolution — and what that means for your careerThe concept of "token rationing" and why accounting departments may be last in line for AI resourcesWhy founders with product intuition are better positioned to navigate paradigm shiftsWhat it means to be a trusted partner vs. a vendor in the age of AIWhether you're a controller, CFO, or just trying to future-proof your career, this conversation offers a rare outside-in perspective on where the profession is heading.

My father always told me that the smartest business people learn from the mistakes of others so they don't make them. In this podcast, you'll get the opportunity to learn real world, boots on the ground, leadership lessons from Keith Flores…a highly respected entrepreneur, HVAC industry leader, and founder/operator with over 30 years of experience in the trades and business world. Free P&L Statement and Balance Sheet https://tinyurl.com/2rjd6wxu Ruth King Facebook - https://www.facebook.com/ruthking1650 LinkedIn - https://www.linkedin.com/in/ruthking1/   Podcast Produced by Nick Uttam https://www.linkedin.com/in/nick-uttam-4b33a1147

Do you get frustrated when your team members can't read your mind? How about when you get the feeling “If it needs to be done right, I have to do it myself?” Or, maybe you can't grow because you don't like to delegate? Skye Warren, Founder of the Unconventional Organisation, gives you the three biggest reasons owners struggle to delegate and how to eliminate that struggle. Free P&L Statement and Balance Sheet https://tinyurl.com/2rjd6wxu Ruth King Facebook - https://www.facebook.com/ruthking1650 LinkedIn - https://www.linkedin.com/in/ruthking1/   Podcast Produced by Nick Uttam https://www.linkedin.com/in/nick-uttam-4b33a1147

Join Ryan Burklo and Alex Collins as they delve into the crucial role life insurance plays in a well-rounded financial plan. Through an engaging and detailed case study, they highlight the significance of cash flow management, protection strategies, and strategic planning. This episode is designed to empower listeners with the knowledge needed to make informed decisions about their financial future, ensuring they are well-prepared for any eventuality.   Check out our website:  https://www.builtforlifenotjustwealth.com/ Find us on YouTube: https://www.youtube.com/@builtforlifenotjustwealth/ Subscribe to our newsletter: https://www.quantifiedfinancial.com/subscribe-now Check out our Instagram: https://www.instagram.com/ryanburklofinance?igsh=ZTJzN3Jnajd5M2Mw Ryan Burklo's LinkedIn profile: https://www.linkedin.com/in/ryanburklo/ Alex Collin's LinkedIn profile: https://www.linkedin.com/in/alexandercollins/ For a quick assessment of your current financial life go to: https://www.livingbalancesheet.com/lbsVision/lite/RyanBurklo   #BuiltForLifeNotJustWealth #financialplanning #lifeinsurance #cashflow #protection #casestudy #wealthmanagement #retirementplanning   Key Topics Importance of life insurance in financial planning Analyzing a client's balance sheet and assets Impact of income and lifestyle on insurance needs Scenario analysis of life insurance coverage Protection from income loss due to unexpected events   Chapters 00:00 Introduction to Financial Planning and Protection 02:28 Analyzing a Client's Balance Sheet 10:59 The Importance of Life Insurance 17:09 Understanding Income Protection and Financial Planning  

In today's episode of Culture Camp, Jason is joined again by David Spader and Leigh Quinn of Potentia, and they discuss the concept of the talent balance sheet, which assesses human capital assets and liabilities. The talent balance sheet helps organizations identify and leverage strengths and manage weaknesses within their teams. It includes 40 factors, such as effective emotions and values, to evaluate individual and team capabilities and motivations. They emphasize the importance of adaptability, particularly in dynamic environments, and the need for leaders to understand and manage their own and their team's emotional and motivational states. The tool can be used by consultants and leaders to optimize team performance and organizational success.Tweetable Quotes:"Every individual, every team, every group has talents and they have opportunities." - David Spader"Each aspect of the talent balance sheet has a purpose." - Leigh QuinnConnect with David Spader and Lee Quinn:On LinkedIn: https://www.linkedin.com/in/potentia-david-spader-5627655/https://www.linkedin.com/in/leigh-quinn-jr-a017oa69/ Visit Potentia-assesments.com: https://potentia-assessments.com/If you found value in this episode, please leave a rating and review, also, don't forget to share it with a friend! Remember to follow us on Instagram for more!

Social media makes it easy to compare your business to everyone else's highlight reel. New trucks. Bigger shops. Record revenue. Growing teams. But what you don't see is the balance sheet behind the post. Debt, cash flow, profit, payroll, stress, and the sacrifices it took to get there. In this episode, we're talking about why the numbers that matter most are usually the ones nobody shares, and how to stay focused on building the business and life you actually want.