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On 11 April Presenter Merran Maclaren interviewed Kathie Herbert, chairperson and Ann-Maree McEwan, committee member, both from Blue Mountains Refugee Support Group known as BMRSG, about the work of the group ahead of the annual Sydney Palm Sunday Rally and March on 13 April.Merran finishes the segment with a brief description of portrait Red Marie by Paul Standen which is a portrait of one of the founders of BMRSG, Marie Standen. As mentioned in the interview listeners can find out more BMRSG by going to bmrsg.org.auBlue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded.The show was first broadcast on Radio Blue Mountains 89.1 FM on 11 April 2025 by Blue Mountains Unions & Community and presented by Merran Maclaren. The podcast was produced by Ann-Maree McEwan. If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts.Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au.Join a union - 1300 486 466 or join online. Join BMUC.Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.
On episode 169 I am delighted to be joined by Kilmacud Crokes chairperson Joan Kehoe. Joan is a successful business woman with experience across many roles from founding two companies, to a global leadership role at JP Morgan, to CEO, and more.Originally from Wexford she moved to Stillorgan and joined Kilmacud Crokes and filled a number of roles within the club before becoming chairperson. She is also a member of the Coiste Bainistí, The Management Committee of the GAA and former executive member of the club players association.We discuss integration, gender in gaelic games, leadership, Kilmacud Crokes, implementing a one club model, the promotion of gaelic games, and so much more. Joan is a proven high achiever with great knowledge of Strategy and Structures from her professional career. She offers an honest account and insight into leadership, integration and one of the biggest GAA clubs in Ireland.Thanks to Joan not only for her time but for welcoming me to the Kilmacud Crokes clubhouse to record the episode in person. Follow The Sideline Live Social Media channels: https://twitter.com/thesidelinelive https://www.instagram.com/thesidelinelive/ Recorded using Samson Q2 microphone, Edited using GarageBandIntro music, Watered Eyes by a talented Irish artist, Dillon Ward check him out here . If you are looking to set up your own podcast get in touch with the Prymal Productions team www.prymal.ie
On Rights, Rorts and Rants on 11 April 2025 Merran Maclaren interviewed representatives from Macquarie Alliance for Climate (MAC). Shirley Lewis and Erst Carmichael spoke to Merran about what MAC is and some of the activities the organisation has organised to have conversations with the community about climate change and the cost of living.For more information about events, to get house signs on climate change or to volunteer you can chat at one of the group's Saturday street stalls or find out more by going to Macquarie Alliance for Climate's website https://www.macquariealliance.org and social media platforms. Blue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded.The show was first broadcast on Radio Blue Mountains 89.1 FM on 11 April 2025 by Blue Mountains Unions & Community (BMUC) and presented by Merran Maclaren. The podcast was produced by Ann-Maree McEwan. If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts.Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au.Join a union - 1300 486 466 or join online. Join BMUC.Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.
This Man Built A $22B Investment Firm By Finding His Noble Cause & Thinking About Valuation, Not Value.GuestJonathan Hirtle Founder & Executive Chairman Hirtle Callaghan $22B Bio:In his role as Executive Chairman, Jon continues his intense focus on producing ever better net outcomes for clients. He serves as a full-time advisor to the Firm's Management Committee and spends time with the families and nonprofits we serve. Jon appears regularly on national broadcast networks including CNBC, Fox Business and Bloomberg Television. He is highly sought after for his commentary on investing and was dubbed the "Oracle of Outsource" by Pensions & Investments as Hirtle Callaghan is best known for its role in pioneering the outsourced CIO (OCIO) model for families and institutions. Prior to founding Hirtle Callaghan, Jon worked at Goldman Sachs advising family groups and institutions on investment strategy and securities selection. Previously, he served as an officer in the United States Marine Corps. He earned his B.S. and M.B.A. degrees from The Pennsylvania State University.
Jane Caro AM is a Walkley Award winning Australian author, novelist, columnist, broadcaster, documentary maker, professional speaker and social commentator. She is a staunch advocate and defender of public education. In this episode Jane discusses the unfair government funding of Australian schools with Debra Smith and Peter Lammiman - how did we get to a system biased in favour of private schools, and how can we make our education system fairer?If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts.Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au.Join a union - 1300 486 466 or join online. Join BMUC.Blue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded.This episode was recorded via Zoom on 17th March 2025 and first broadcast on Radio Blue Mountains 89.1FM and rbm.org.au on 21st March 2025.Opinions expressed in this video are not necessarily endorsed by the Blue Mountains Unions Council Inc, however we have been long time supporters of public education.Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.
Leaders in Conversation with Anni Townend is the podcast in which leaders weave together the threads of their life, sharing their leadership stories; the people, places and experiences that have shaped them, their values, beliefs, passion and purpose to encourage and inspire you to be even more confident and courageous in your leadership.ABOUT THIS EPISODE:I had the joy of being introduced to Gail through a previous podcast guest, Karen Dobres who told me what a wonderful guest Gail would be, and that she had written a book, a memoir about her life and leadership called Made in Whittingham StreetIn our conversation Gail shares her story of leading with courage and gratitude, and offers insights into:The importance of not only finding your cause, your purpose, but of always being true to it, and to yourself.How staying true to your dreams, your hopes and aspirations really matters and that it is this which gives courage to and inspires others to follow their dreams and to stay true to them.Knowing what you believe in and having faith can give you the courage to keep going, and gratitude for what you have, and help reconcile challenges.GAIL'S THREE ENCOURAGEMENTS TO LEADERS:Be sincere and honest. Always be true to your cause.Never give up on your dreams. Inspire others.Have faith in what you believe inConnect with Gail:X: x.com/GailNewshamWebsite: www.dickkerrladies.comTo listen to other Leaders in Conversation with me Anni Townend go to my website, www.annitownend.comA big thank you to SHMOGUS Media for the wonderful production and marketing of the podcast.To contact me Anni Townend do email me on anni@annitownend.com visit my website www.annitownend.com, subscribe to my newsletter and follow me on LinkedIn. I look forward to connecting with you, thank you for listening.ABOUT GAIL:I left school at fifteen and went to work in a shoe factory. I have no formal qualifications to speak of but I think I've done ok. I'm just an ordinary lass who has been fortunate to do some extraordinary things. I suppose I have a strong belief and a tenacity to get things done.Saving and recording the history of women's football and of the Dick, Kerr Ladies became her mission - highlighting the courage of the women to play and to challenge the injustice of the ban on women in football.Passionate about saving the legacy of DKL, and keeping true to their story. In their Centenary year we achieved the First Blue Plaque in the World for women's football 2017. Memorial to DKL at PNE 2017. First ever National Women's Walking Football Tournament 2017. Plaque on Ashton Park in Preston in 2021, where DKL played their first match after the FA Ban of 1921.Always been proactive in helping the game grow when nobody gave tuppence for us. I served 12 years on the Management Committee of North West Women's Regional Football League from 1981-1993. Chief fundraiser for my own club, organising Fancy Dress Treasure Hunts and many other initiatives. Founder and organiser of the Lancashire Trophy in 1986, an International Women's Football Tournament with teams from Austria, Sweden, Switzerland, Germany, Eire, Scotland and England, all taking part over the years.Proud to have served in the Women's Royal Army Corps. Took part in the Remembrance Day Parade in London in 2016, honouring family who took part in/lost in WW1, and my dad in WW2. Proud to wear his...
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In news from Ipswich and District Radio Club, WICEN volunteers will head out in the field for the Brisbane Trails Marathon on April 27. It's never too late to offer your services on the day. A minimum of 14 operators are required most with a 4WD and radio equipment to operate in a remote location. Ipswich WICEN also welcomes support from other amateurs in southeast Queensland. Please get in touch with Paul McDonald at VK4PMCPaul@outlook.com I'm John VK4JPM, Secretary of the Darling Downs Radio Club. The Management Committee is busy at work sorting out a few items that need to be addressed - we'll tell you about that at the next meeting, which will be on Monday 14 April. More about that in a second. The John Moyle Field Day was a heap of fun and thanks to all those who came along to help the club get into the history books. It will be a while before we know how we did, but in raw terms, we ran for six hours with four teams across 10, 15, 20 and 40 metres. Given the commercial nature of the site we were on, we also attracted a bit of attention from the public and had more than a few people come over to find out what we were doing. Explaining Amateur Radio to onlookers is one way to increase our numbers. We also had some underbubblers drop by for a squizz: there are members of our club who are on the road to a Foundation Licence, and what better way to get a feel for what structured operating is about than to watch a team of people calling "CQ Contest"? Thanks to Dougal, VK4EKA for being team captain and arranging the main setup - a centre-fed long-wire flown between trees; to Wayne VK4ARW with his quick-erect rotator dipole; and SAM VK4SAM with a most interesting multiband-vertical and an impressive ground plane. The Field Day also gave us a chance to shake out the club's self-contained trailer, designed quite effectively to operate in a mains-free environment. Fortunately, we had good sun and the batteries stayed nice and charged. Redcliffe & Districts Radio Club VK4RC -. Robert Thomson VK4TFN here. REDFEST 25 "Adventures on HF" at 9:00 am on the 12th of April. I'm looking forward to it. Our new venue is: The Deception Bay North State School, Old Bay Road, Deception Bay. Hello, I'm Geoff Emery, VK4ZPP, and I've been thinking. One area of amateur radio that we don't see mentioned often is one that brought many people into the broader compass of “radio”. A lot of people, these days, associate the introduction of the Citizen's Band Radio Service as being the fillip that gave rise to the many new amateurs who entered via the then Novice licence. The value of Radio Australia to introducing our life and perspectives was well recognised as it had a non-partisan policy of providing news and information and it sought to help people in neighbouring countries. Weather reports, farming tips and English language lessons were all grist for the mill until a few years ago when the plug was pulled. As evidence of its effectiveness, shortly after closing its services several of the frequencies that RA used were adopted by one of the Asian Tigers as their own. In this past week, we have seen the current administration pull the plug on one of the most well-recognised international broadcasters when the USA locked staff out of the Voice of America studios and offices and placed the programming on automatic. My introduction to radio was strengthened by tuning around the dial and listening to these various broadcasters and finding other things like marine traffic, police networks and becoming intrigued by amateur radio, particularly 40m. From that I went on to join the WIA as an Associate Member, Short Wave Listener and eventually I became a full member. Shortwave is still with us and along with scanning of VHF and UHF, it makes a great introduction to the hobby of radio. I'm Geoff Emery VK4ZPP and that's what I think…. how about you?
"The players deeply regret failing to qualify us for AFCON and are determined to prove their commitment to Ghanaians by making us proud again."
On 14th March 2025 this segment of Rights, Rorts and Rants went to air. Mike Holland briefly covered three high profile whistleblowers who have been generally subjected to detrimental treatment, financial ruin, jail time and psychological suffering at the hands of their employers and the media. The ill-treatment directed at employees who bring cases involving wrongdoing into public light has led Senators Jacqui Lambie and David Pocock to address this by sponsoring a Senate bill on 11 February 2025 namely the "Whistleblower Protection Authority Bill 2025 (No. 2)". Dr Helen Haines MP and Andrew Wilkie MP also introduced the bill which will, if passed, establish an independent body with the power to enforce whistleblower protections and safeguard whistleblowers, among other things. The bill has been referred to a committee with reporting back on 29 August 2025.The radio show was first broadcast on Radio Blue Mountains 89.1 FM on 14 March 2025 by Blue Mountains Unions & Community and presented by Fran Dyson. The podcast was produced by Ann-Maree McEwan. If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts.Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au.Join a union - 1300 486 466 or join online. Join BMUC.Blue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded.Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.
Welcome back to the Alt Goes Mainstream podcast.We had a chance to sit down with Blue Owl Co-CEO Marc Lipschultz recently at their Nest Network Summit for RIAs and private banks in Laguna Beach.It was a perfect setting to discuss Blue Owl's incredible growth, which has been in part due to its unique and focused partnership with the wealth channel.Blue Owl is one of the industry's largest alternative asset managers and has charted an impressive growth path in the nine years since its founding. Blue Owl has scaled to over $250B of AUM and has proven to be one of the top firms at raising capital from the wealth channel.Marc is a private markets industry veteran who has been instrumental in building not just one, but two of the industry's biggest players.He spent over two decades at KKR, serving on the firm's Management Committee, and as the Global Head of Energy and Infrastructure after joining the firm as one of the first 20 employees. He then partnered with Blackstone GSO Founder Doug Ostrover and Goldman Sachs Partner and Co-Head of Leveraged Finance Craig Packer to co-found Owl Rock Capital Partners, the predecessor firm to Blue Owl's Credit platform. Owl Rock combined with Dyal Capital Partners to become the publicly traded entity Blue Owl in May 2021 and has since grown to over $250B in AUM and $2.2B in revenue.Owl Rock and now, Blue Owl's, flight is emblematic of the evolution of alternative asset managers. Marc and I had a fascinating conversation. We discussed: How Blue Owl's growth highlights trends that have propelled alternative asset management into the mainstream.Why scale matters.Their focus on private credit, data centers, and digitalization.Their focus on private wealth. The power of permanent capital.Thanks Marc for coming on the show to share your wisdom and expertise in private markets.You can also see a recent Q&A with Marc on AGM here.A number of the themes discussed by Marc in the podcast and Q&A appear in Blue Owl's 2025 Market Outlook. You can read Blue Owl's 2025 Market Outlooks across Credit, Real Estate, and GP Strategic Capital, where their teams outline themes that are top of mind and how it will impact their respective sectors.Show Notes00:00 Welcome to the Alt Goes Mainstream Podcast00:42 Interview with Marc Lipschultz00:57 Blue Owl's Growth and Success01:10 Marc's Background and Career03:20 Marc's Journey at KKR03:31 The Early Days of Private Markets05:18 Building Owl Rock and Blue Owl05:45 Growth at KKR and Blue Owl06:17 Lessons from KKR07:21 Serving Investors and Delivering Results08:29 Operationalizing Culture09:42 Serving Investors with Excellence10:04 Focus on the Wealth Channel10:25 Democratization of Alts11:54 Building a Firm to Serve Individuals13:41 Building a Scalable Firm16:23 Unified Wealth Platform18:42 Balancing Customization and Scale23:48 Brand and Trust in Private Markets26:27 Opportunities in Private Markets28:38 Acquisition of IPI and Strategic Growth28:53 The Role of Scale in Private Markets31:10 Growth and Competition in Private Credit32:19 Challenges in Moving from Base to High-End Markets32:30 Meeting the Needs of Large Borrowers32:38 Market Dynamics and Spread Variations33:03 High-End Market Realities33:31 Cost of Capital and Borrowing Limits34:28 Predictability, Privacy, and Partnership35:12 Natural Market Boundaries35:41 Secular Trends in Private Credit35:43 The One-Stop Shop Concept36:10 Risk Management in Credit36:15 Concentration Risks in Credit vs. Equity37:01 Maintaining Low Loss Rates37:40 Impact of Capital on Credit Performance38:25 Durability of Large Companies39:44 Private Financing Trends40:28 Strategic Business Orientation40:52 Growth Trends and Market Focus41:46 Skating to Where the Puck is Going46:48 Permanent Capital and Business Strategy50:19 Building a Purpose-Built Firm52:51 Lessons from the Washington Commanders and Tampa Bay Lightning53:15 The Role of Culture in Business and Sports55:13 Intentionality and Good Fortune55:52 Commitment to Culture and Values57:04 People as the Core of Success57:46 Wrapping Up the Conversation and Closing Remarks Editing and post-production work for this episode was provided by The Podcast Consultant.
Since being elected the Albanese government has created 36,000 secure jobs in the public service bringing immense benefits to the Australians they serve.Leader of the Opposition, Peter Dutton has signaled that, if elected, a Coalition government will fire 36,000 APS workers. Many of these people work in regional areas, providing local services and supporting local economies.Debra Smith and Nick Franklin ask Rebecca Fawcett, Deputy Secretary of the union representing public servants, the CPSU, why cutting the services provided by these workers will hurt Australians how we can support public servants.If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts.This episode was recorded via Zoom on 5th March 2025 and broadcast on Radio Blue Mountains 89.1FM on 7th March 2025.Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au.Join a union - 1300 486 466 or join online. Join BMUC.Blue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded.Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.
Fran Dyson and Mike Holland start 2025 with a look back over union wins in 2024. The discussion includes the Woolworths Distribution Centre UWU win that defeated an AI-surveillance work system that threatened to injure workers. Also discussed is new criminalised wage theft legislation that commenced on 1 January 2025 that means criminal penalties, including 10 maximum jail time, for bosses who intentionally underpay wages, superannuation and entitlements to their workers. The show was first broadcast on Radio Blue Mountains 89.1 FM on 31st January 2025 by Blue Mountains Unions & Community and presented by Fran Dyson. The podcast was produced by Ann-Maree McEwan. If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts.Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au.Join a union - 1300 486 466 or join online. Join BMUC.Blue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded.Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.
IntroductionLIVE from your ESG ESG ESG ESG DEI DEI DEI Climate Change Change Climate Change Global Warming ESG DEI, it's a Business Pants Friday Show here at Valentine's Day Studios, featuring AnalystHole Matt Moscardi. On today's weekly wrap up: Corporate Abolitionists, The Gulf of Stupidity, The S in ISS stands for Shitty, and Denny's Truth Bomb Our show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.Story of the Week (DR):Goldman Sachs abandons DEI rule, saying it has ‘served its purpose' MMRichard Gnodde, CEO of Goldman Sachs International and a member of the bank's Management Committee, told the BBC that the bank had scrapped its board diversity requirement because of legal developments — and the fact that it had achieved its function.“That policy served as a catalyst to try and drive a change in behavior. What's important here is that you have a diversity of views on that board, and if you look at these companies — they've all embraced diversity. I think it served its purpose.” Billionaire Airbnb Co-Founder Is Said to Take Role in Musk's Government InitiativeJoe Gebbia, the Airbnb co-founder, is a board member at Tesla.Mr. Gebbia arrived at O.P.M.'s downtown Washington D.C. headquarters in a black S.U.V. with a three-man security detail‘Sustainable' Investors Flee References to Climate ChangeThe success of Republican attacks on ESG and Donald Trump's re-election has everyone running for cover.For more than a decade, investment chief of Green Alpha Investments Garvin Jabusch would show a chart of the planet's rising temperatures when pitching investment ideas to clients, saying they could help save the planet and still make money: “I've given up on anyone ever caring about that”Parnassus Investments, the biggest US sustainable-investing firm, has removed references on its website that its funds are “fossil-fuel free.”Engine No. 1, the small activist firm that led the shakeup of ExxonMobil Corp.'s board in 2021, has removed wording on its web page that corporate performance is “greatly enhanced” by investing in workers, communities and the environment. The fund now says it invests in companies that are “powering innovation and driving the reindustrialization of the United States.”Mr. BlowhardJamie Dimon is fed up with remote workLast year's proxy statement:“We continued to deliver strong multi-year financial performance, invest in our future, strengthen our risk and control environment, and reinforce our culture and values, including our long-standing commitment to serve our customers, employees and communities, and conduct business in a responsible way to drive inclusive growth.”Managed revenue of $162.4 billion — a record for the sixth consecutive yearExperienced growth across all of our market-leading lines of businessRecord net income of $49.6 billionExceptional Performance: the Firm's sustained strong relative outperformance compared to its peersJPMorgan CEO Dimon slams RTO pushback: ‘I don't care how many people sign that f*cking petition'Jamie Dimon Reportedly Says He'll Cut Some ‘Stupid' DEI Costs At JPMorgan ChaseJPMorgan CEO Jamie Dimon wants to cancel some DEI spending after the bank spent billions on racial equity: ‘I was never a firm believer in bias training' In his remarks, Dimon reiterated the bank's commitment to improving society and said the company's approach to diverse employees and communities would stay the course. Yet, he reportedly added: “I saw how we were spending money on some of this stupid sh-t, and it really pissed me off,” Dimon said. “I'm just gonna cancel them. I don't like wasted money in bureaucracy.”There are two distinct elements to the determination of Jamie's pay plan: 50% is “the what” and 50% is “the how.” One of the three elements of “the how” is “Teamwork & Leadership,” which specifically includes “Creating an open, respectful, inclusive culture; Employer of choice for top talent from all backgrounds; Delivery on internal DEI initiatives.”One of the company's stated achievements in “Client/Customer/Stakeholder” was:Advancing racial equity: By the end of 2023, we reported nearly $31 billion of progress toward our five-year $30 billion Racial Equity Commitment to help close the racial wealth gap and advance economic inclusion among historically underserved communities in the U.S., including Black, Hispanic and Latino customers and communities. The Firm is committed to continuing work beyond the five-year timeframe identified in our original commitment to complete the 18 individually identified sub-commitments.“[P]ractices and progress on the Firm's DEI priorities as part of the year-end performance review.”$36M last year: $145M for 6 NEOsOne of COO Daniel Pinto's stated achievements: “Delivered key CIB DEI initiatives to drive a more inclusive work environment for employees”Goodliest of the Week (MM/DR):DR: Seattle Voters Say Yes to Corporate Tax Hike to Fund Social Housing a ballot initiative to fund social housing through an "excess compensation" tax on city businesses paying salaries of over $1 million68.32% of voters backed funding for social housing and 57.55% chose to fund it specifically with the proposed taxMM: Mexico's President Sheinbaum said her government would ask Google to make ‘Mexican America' pop up on maps of the U.S. MM DRAssholiest of the Week (MM):‘Greenhushing' Emerges as Anti-ESG Pressures Mount for CompaniesSTAND UP FOR YOURSELVES, YOU BABIESEither it is the right thing to do for shareholders and stakeholders and you should say so, or it's not and you're a fraudISSISS Indefinitely Halts Consideration of Diversity Factors When Making Proxy Voting RecommendationsLet's talk value of “diversity factors” - I'm talking strictly data here, not the justified moral outrage about having all white male boards. Let's just talk about how investors are now paying ISS hundreds of thousands of dollars instead of Free Float in order to get LESS data - here are the “factors” you no longer consider for recommendations:Gender diversity:Women outpace men globally in sector knowledge for boards they're on - women are more likely to have gone to an elite school or have an advanced degree AND have direct knowledge of the industry of the company they're on the board ofWomen have stronger networks - because so few break the glass ceiling of boards, they end up getting recycled, which means they know more board members or have friends in commonWomen and men have exactly the same performance metrics as directors - by performance, I mean during their tenures, they oversee the exact same TSR and earnings performance percentiles versus industry peersMen have the advantage in leadership and economic interest - as in, women are rarely made CEOs unless there's a crisis and mommy has to clean up after the boys, and the boys almost always keep shares for themselves and don't give any to the girlsRacial/ethnic diversity:Black female directors at S&P 500 companies are the most knowledgeable of their industriesBlack female directors at S&P 500 companies also have the strongest networks - they have been recycled more, and thus have more friends in high placesAsian male directors at S&P 500 companies have the highest performance rates on TSR and earningsOverall, black male and female directors are the most “meriting” board positions at the S&P 500 companies Shareholders who don't use their rights DRSEC Looks to Muzzle Shareholder Culture WarriorsSchedule 13G is filed by owners of stock who have more than 5% of shares - so basically, Blackrock, Vanguard, State Street, Fidelity - major investorsBUT, if the owner takes an ACTIVIST position (like Elliott amassing in BP right now), and that position is greater than 5%, they file a 13D, not G - D means they intend to influence or change management in a proxy fight (or through engagement)13D has more reporting requirements because it's an activist stakeWell, because investors have basically ignored their basic rights for so long and deferred to management, this happens: SEC Provides New Guidance on Schedule 13G EligibilityThe new guidance says:Schedule 13G would be unavailable if a shareholder engages with the issuer's management to specifically call for the sale of the issuer or a significant amount of the issuer's assets, the restructuring of the issuer, or the election of director nominees other than the issuer's nominees.For example, Schedule 13G may be unavailable to a shareholder who:recommends that the issuer remove its staggered board, switch to a majority voting standard in uncontested director elections, eliminate its poison pill plan, change its executive compensation practices, or undertake specific actions on a social, environmental, or political policy and, as a means of pressuring the issuer to adopt the recommendation, explicitly or implicitly conditions its support of one or more of the issuer's director nominees at the next director election on the issuer's adoption of its recommendation; ordiscusses with management its voting policy on a particular topic and how the issuer fails to meet the shareholder's expectations on such topic, and, to apply pressure on management, states or implies during any such discussions that it will not support one or more of the issuer's director nominees at the next director election unless management makes changes to align with the shareholder's expectations.ENGAGEMENT DEATH BY BEAURACRACY THE MAJORS! This works out one of three ways: the majors can no longer vote against any director for fear it appears to be “coercive”, and subjects them to 13D scrutiny, OR…They axe entire engagement teams, stop engaging at all, abstain and only offer pass through votingThey buy Free Float data - imagine a world where you stop engagement or conversation about “key issues”, and vote instead against candidates that just failed to perform without telling them why. No engagement, just voting on the data!But in the end, because you never actually used actual data on your director vote, the SEC is making it harder for you now. Congrats!Headliniest of the WeekDR: Denny's Says Consumers Fatigued by News, Economy, Inflation...EverythingMM: Double Deuce Announces Appointment of Paul A. Dumas as Chairman of the Board of DirectorsWe believe that his experience and knowledge of the mining sector, his wealth of contacts, and his expertise in growing a company and creating shareholder value will be incredibly beneficial to Double Deuce Exploration.Knowledge, network, performance - three tags for merit!Who Won the Week?DR: Two winnersJoe Gebbia: for proving beyond the shadow of a doubt that he is NOT an independent board member at Tesla and that his life choices have led him to believe that he needs three security guards to protect him from a world that very likely hates him.Richard Gnodde, a South African investment banker and CEO of Goldman Sachs International, in a mic-dropping moment for equality across the globe for declaring an end for the need of both the Civil Rights and Equal RIghts MovementsMM: Anyone not a cow veterinarian: H5N1 testing in cow veterinarians suggests bird flu is spreading silentlyPredictionsDR: Jamie Dimon starts to remove tampons from women's bathrooms at JPMorgan Chase because he says “I was never a firm believer in women's hygiene products”MM:
On Rights, Rorts and Rants presenter Fran Dyson leads a discussion with co-presenter Mike Holland on the issue of housing non-affordability. A key issue hurting large sections of the community.The first part of the discussion includes an analysis of both the ALP and LNP housing affordability policies.The second part of the discussion explores how property tax benefits such as negative gearing translate enhance wealth through property for some.The show was first broadcast on Radio Blue Mountains 89.1 FM on 31 January 2025 by Blue Mountains Unions & Community and presented by Fran Dyson. The podcast produced by Ann-Maree McEwan. If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts.Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au.Join a union - 1300 486 466 or join online. Join BMUC. New members welcome!Blue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded.Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.
Welcome back to the Alt Goes Mainstream podcast.Today's episode features an industry leader who has pioneered working with the wealth channel.We talk with Joan Solotar, the Global Head of Private Wealth Solutions at Blackstone, where she also serves on the firm's Management Committee. Joan has been responsible for leading Blackstone's impressive work in the wealth channel. She's grown the firm's footprint in private wealth to over $250B in assets across Blackstone funds, making the wealth channel comprise roughly a quarter of Blackstone's $1T AUM.Blackstone Private Wealth Solutions' mission is to bring institutional quality products across a broad spectrum of alternative asset classes to high net worth clients and their advisors.Before joining Blackstone in 2007, Joan was Head of Equity Research at Bank of America Securities and a highly ranked Institutional Investor All Star financial services analyst at Credit Suisse and Donaldson, Lufkin & Jenrette. She also serves on the Board of Directors at First Eagle Investment Management.Joan and I had a fascinating conversation about how to build and scale a business in the wealth channel. We discussed:How Blackstone built a $250B AUM business in the wealth channel across Blackstone funds.How Joan's background in equity research helped her as she built a business for the wealth channel.The early days of building Blackstone's Private Wealth Solutions business.Where, why, and how private markets can fit into a portfolio.How model portfolios will evolve.Why private markets are no longer an alternative.How to build an effective brand in asset management.Thanks Joan for coming on the show to share your wisdom and expertise on private markets and your work with the wealth channel.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.Visit www.ultimusfundsolutions.com to learn more about Ultimus' technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Message from our Sponsor, Ultimus Fund Solutions01:18 Alt Goes Mainstream Theme Song02:02 Guest Introduction: Joan Solotar03:45 Joan's Background 05:00 Early Days at Blackstone06:39 Challenges in Private Wealth Business08:31 Convincing Advisors10:44 Growth of Private Wealth Business11:12 Advisor Allocation to Private Markets13:27 Understanding Liquidity and Risk14:36 Educating Advisors on Private Markets15:55 Client Demand for Private Markets17:08 Portfolio Construction and Alternatives20:56 Ease of Use in Private Investments21:23 Model Portfolios and Private Investments22:32 Advisor Relationships with Blackstone24:10 Differentiating Blackstone's Experience25:19 Commitment to Advisors25:40 Commitment from Blackstone's Leadership27:27 Complexity of Selling Private Investments28:54 Blackstone's Growth and Future Goals29:53 Importance of Brand and Marketing31:14 Integration of Marketing and Sales31:38 Educating Blackstone's Team31:56 Blackstone's Training Programs34:50 Weekly Global Meetings36:44 Humanizing Blackstone's Team39:07 Blackstone's Holiday Video40:14 Consumer-Facing Investments41:27 Joan's Favorite Investment Theme: AI41:59 Blackstone's AI Investment Strategy43:19 Conclusion of the PodcastEditing and post-production work for this episode was provided by The Podcast Consultant.
Mike Holland shares his extensive research and reading in analysing the nuclear energy policy which isthe key policy of the Liberal National Coalition ahead of the upcoming election. Mike Holland's summary is under this plan we won't be generating any nuclear power before 2040. By 2040 coal fired power stations will be shut down and we will be using cheaper wind and solar generated power. Mike makes the case that from reactors around the world it is economically irresponsible to go down this path.The show was first broadcast on Radio Blue Mountains 89.1 FM on 31 January 2025 by Blue Mountains Unions & Community (BMUC) and presented by Fran Dyson. If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts.Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au.Join a union - 1300 486 466 or join online. Join BMUC.Blue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded.Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.Disclaimer: Rights, Rorts and Rants explores a range of issues from different perspectives. The views expressed on the show and podcast are not necessarily endorsed by Blue Mountains & Community.
Collaboration between the industry and government will be paramount to maintain robust wholesale markets and ensure grid reliability as the state continues to promote rapid development of renewable resources in the coming year.That was the message from NYISO President and CEO Rich Dewey on the latest Power Trends podcast. In episode 38, Dewey reflected on his annual “State of the Grid” message to market participants and policymakers at the company's Management Committee, highlighting several areas of focus that he says will drive the work of the NYISO in 2025.Dewey outlined pillars necessary for a reliable clean energy transition and related ISO initiatives now underway. These include a major effort to examine options to modernize the capacity market and more accurately assess resources' unique contributions to resource adequacy. Through NYISO planning studies, the organization also continues to examine declining reliability margins, additional transmission needs and extreme weather risks. “We've seen some dramatic changes, but one of the things that has not changed in this time period has been our steadfast commitment to the reliability of the power system and everything that we need to do to ensure that we can keep power flowing for New Yorkers,” Dewey said. “It's just so essential to the health, safety and economy of New York.”In this latest episode of the Power Trends podcast, Dewey also reflected on 2024 and ongoing energy sector trends, including the retirement of legacy power plants, the electrification of housing and transportation, and the influx of large loads like data centers, chip fabrication and traditional manufacturing plants. “There is a fantastic news story of economic development across New York state with the addition of factories and data centers,” Dewey said. “Planning for that load growth — which translates into job growth and expansion of the economy — is exciting, but it's also challenging from the standpoint of making sure we have a reliable electric system that can meet that demand.Dewey highlighted NYISO innovations and successes over the past year including changes to the process of studying the reliability impacts of new generation and large loads that seek to connect to the grid. Hundreds of wind, solar and battery storage projects are currently being evaluated through the NYISO's new streamlined process. Looking at the federal landscape, the NYISO is developing a compliance plan for FERC Order 1920, to strengthen the long-term regional transmission planning process, Dewey said.Dewey also discussed the company's emphasis on creating a “learning culture,” which he says is necessary for innovation in the modern-day energy sector. The NYISO has been able to recruit and develop a talented and diverse workforce prepared to meet the challenges ahead. As the NYISO works to build out a clean and reliable electric grid, the organization also continues to invest in its collaborative relationships with neighboring ISOs, RTOs, state and federal agencies and stakeholders, according to Dewey. “The electric system in the U.S. is one of the largest machines ever built. We're continuously dependent on our neighbors and the power systems that are adjacent to us,” Dewey said. “The ability to work collaboratively across the industry is going to continue to be crucial to our success.”Learn More Follow us on Twitter @NewYorkISO and LinkedIn @NYISO Read our blogs and watch our videos Check out our 2040 grid page
The AI Breakdown: Daily Artificial Intelligence News and Discussions
A conversation with Stephen (Steve) Chase, Vice Chair of AI and Digital Innovation at KPMG. Steve shares practical strategies for integrating AI into enterprises. The discussion covers overcoming adoption challenges, implementing agents effectively, and driving AI-led transformation through strong leadership. Discover actionable steps to deliver value and prepare for the future of AI. More about Steve: Stephen (Steve) Chase is the Vice Chair of KPMG's Artificial Intelligence and Digital Innovation organization and a member of the firm's Management Committee. In his role, Steve focuses on fostering a culture of innovation and driving KPMG's transformation through the systemic adoption of AI, Data and Emerging Technology. This involves leading a firm-wide initiative to integrate AI into every aspect of the business. With over 30 years of experience in technology-driven business transformations, Steve also offers strategic guidance to KPMG clients on their AI and Digital transformation journeys. Brought to you by: Vanta - Simplify compliance - https://vanta.com/nlw The Agent Readiness Audit from Superintelligent - Go to https://besuper.ai/ to request your company's agent readiness score. The AI Daily Brief helps you understand the most important news and discussions in AI. Subscribe to the podcast version of The AI Daily Brief wherever you listen: https://pod.link/1680633614 Subscribe to the newsletter: https://aidailybrief.beehiiv.com/ Join our Discord: https://bit.ly/aibreakdown
Cherie Brandon of the Blue Mountains Women's Health and Resource Centre talk to Merran MacLaren and Deb Smith about the 16 Days of Activism to stop violence against women. They also discuss what is meant by "coercive control". If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts. Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au. Join a union - 1300 486 466 or join online. Join BMUC. Blue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded. The content of this podcast is from a Politics in the Pub hosted by BMUC at the Family Hotel on 16th November and was produced by Debra Smith. Opinions expressed in this video are not necessarily endorsed by the Blue Mountains Unions Council Inc. Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.
Joan Solotar is the Global Head of Private Wealth Solutions. She serves on the firm's Management Committee. Blackstone's Private Wealth Solutions' mission is to bring institutional quality products across a broad spectrum of alternative asset classes to high-net-worth clients and their advisors. Ms. Solotar also serves on the board of directors of First Eagle Investment Management. Before joining Blackstone in 2007, Ms. Solotar was Head of Equity Research at Bank of America Securities and a highly ranked Institutional Investor All-Star financial services analyst at Credit Suisse and Donaldson, Lufkin & Jenrette.Links:Joan on LinkedIn - https://www.linkedin.com/in/joan-solotar/Blackstone - https://www.blackstone.com/Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/Juniper Square - https://www.junipersquare.com/ Topics:(00:00:00) - Intro(00:04:31) - Inside Joan's office(00:05:52) - Joan's background and career(00:19:47) - What does Blackstone look like today?(00:20:42) - How would you describe Private Wealth today?(00:23:13) - What is important to advisors and their clients?(00:25:46) - How do you think about scaling?(00:27:32) - What makes a great member of the Sales or Advisory team at Blackstone?(00:29:22) - Blackstone's Private Wealth product suite(00:35:49) - What challenges are you facing in this market?(00:38:36) - Blackstone's approach to social media(00:41:15) - Leadership philosophies(00:44:45) - Closing advice
In Part 1 of "Creating Future Jobs - Politics in the Pub", Steve Murphy of the Australian Manufacturing Workers' Union and Dr Michelle Zeibots of the Lithgow Community Power Project talk about bringing jobs back to regional Australia and, more specifically, to Lithgow. You can sign a petition to the NSW government to reopen the Lithgow Locomotive Workshops here. In Part 2, the audience in the Family Hotel on 16th November 2024 ask Steve and Michelle how and why we can and should support their campaigns. "Dr Michelle Zeibots is a Lithgow Local & Research Director and Lecturer at the University of Technology Sydney, Transport Research Centre. She is a transport planner, specialising in the analysis of sustainable urban passenger transport systems. Steve Murphy is the National Secretary, Australian Manufacturing Workers' Union campaigning to "Build Them Here" & "Save our Skills". Here are links to the bios of Michelle Zeibots and Steve Murphy. If you'd like to add to the discussion, you can leave an audio comment about our show, which may be added to one of our podcasts. Apply to be a guest on our radio show, Rights, Rorts and Rants on Radio Blue Mountains 89.1FM, Fridays from 4pm to 6pm or livestreamed via rbm.org.au. Join a union - 1300 486 466 or join online. Join BMUC. Blue Mountains Unions & Community pays its respect to and acknowledges, the Darug and Gundungurra First Peoples of the Blue Mountains area and acknowledges this is Aboriginal Land that was never ceded. The content of this podcast is from a Politics in the Pub hosted by BMUC at the Family Hotel on 16th November and was produced by Debra Smith. Opinions expressed in this video are not necessarily endorsed by the Blue Mountains Unions Council Inc. Authorised by D Smith, Management Committee, Blue Mountains Unions Council Inc, 52-52A Great Western Hwy, Mount Victoria, NSW.
Please tune in to this episode of The Building BITE Podcast, as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, LEED AP, and Mike Diercksen, CRIS, welcome Theresa Guertin, Partner and member of Management Committee at SDV Law. We begin the episode by learning about Theresa and how she found a home early in her career at SDV Law going from Intern to part of the Management Committee at the firm. Theresa takes the time to walk us through some notable cases that have been happening around the country, zeroing in on the impact they will have within the construction industry. Before leaving, Theresa gives our audience three key takeaways. 1. Best Defense Is a Good Offense: Regardless of where you sit at the table, it is important to understand the legal strategy and case law precedent that is currently being used in the construction industry. Having a clear understanding of what has happened will help you better prepare to advocate for yourself in future situations. 2. Contracts Must Be Clear: Take the time to review your contracts and modify them to determine which endorsements are and are not acceptable. Additionally, it is imperative that you review your endorsements and determine that they are fully capturing all of the necessary parties. 3. Clarity is Key: When reviewing your own policies, regardless of the case law in your jurisdiction, you want to make sure that faulty work can constitute as property damage as an occurrence. Taking back coverage should happen in your exclusions rather than your insuring agreements. To learn more about how you can better prepare your firm for the opportunities ahead, listen to our full podcast episode with Theresa on “A Focus on Case Law and the Evolving Landscape of Construction Insurance.” Please like, share, and subscribe to this podcast!
Akwesi Agyeman, member of the Black Stars Management Committee, has called for patience with head coach Otto Addo, urging against calls for his dismissal following the team's failure to secure qualification for the Africa Cup of Nations
The Rich Zeoli Show- Hour 3: 5:00pm- Corey DeAngelis— Senior Fellow at the American Federation for Children & An Adjunct Scholar at the Cato Institute—joins The Rich Zeoli Show to discuss school choice expansion, and what the incoming Trump Administration can do to promote it. Plus, a California public school teacher melts down in class over Tuesday's election results. DeAngelis is author of the “The Parent Revolution: Rescuing Your Kids from the Radicals Ruining Our Schools.” You can find his book here: https://t.co/DkGI3lEqXh 5:15pm- Trump Nominates Jay Clayton to U.S. Attorney for the Southern District of New York. In a post on Truth Social, Donald Trump wrote: “I am pleased to announce that Jay Clayton, of New York, the Chairman of the U.S. Securities and Exchange Commission during my first term, where he did an incredible job, is hereby nominated to be the U.S. Attorney for the Southern District of New York. Jay is a highly respected business leader, counsel, and public servant. Jay received Engineering and Law degrees from the University of Pennsylvania, and an Economics degree from the University of Cambridge. Before chairing the SEC, Jay was a partner at Sullivan & Cromwell, and served on the Management Committee. He is currently a Senior Policy Advisor to Sullivan & Cromwell, a Board Member of several public and private companies, and an Adjunct Professor at the Wharton Business School, and the Carey Law School at the University of Pennsylvania. Jay is going to be a strong Fighter for the Truth as we, Make America Great Again.” 5:40pm- Did the U.S. government kill Peanut the Squirrel? Speaking with Chris Cuomo on News Nation, Mark Longo—Peanut's owner—revealed that there was a bizarre 10-month investigation into Peanut and it concluded with the New York State Department of Environmental Conservation euthanizing his beloved pet squirrel. 5:50pm- Costco was forced to recall nearly 80,000 pounds of butter…because it wasn't properly labeled as containing milk…
Welcome to another episode of Pearls On, Gloves Off with your host, Mary O'Carroll, Chief Operating Officer at Goodwin. Today, Mary sits down with Goodwin's leaders—Anthony McCusker, Chair, and Mark Bettencourt, Managing Partner—for an insightful conversation about the firm's unique culture, its client-centric approach, and the future of the legal industry. Anthony McCusker is widely recognized as a preeminent adviser in corporate securities and partnership laws, with a primary focus on advising technology companies and their investors. He chairs the firm's Executive Committee and is a member of its Management Committee and Allocations Committee. Mark Bettencourt has extensive experience in mergers and acquisitions, public offerings, private placements of debt and equity securities, securities law compliance, and technology transfer and licensing. He chairs the firm's Management and Allocations Committees and serves on the Executive Committee. In this episode: Embracing a Unique Culture: Mary's early observations about Goodwin's collaborative, team-first attitude and what sets the firm apart. Forward Thinking Innovation: How Goodwin is driving change in the industry through novel solutions, technology, and AI that enhance client service. Client-Centric Approach: The importance of being deeply immersed in clients' industries and providing holistic business advice beyond traditional legal services. The Changing Role of Legal Professionals: How the role of general counsel is evolving and what that means for law firms and lawyers. Building for the Future Generation: The significance of mentorship, apprenticeship, and providing lawyers with the tools and opportunities to thrive. The Power of Collaboration: The results of working together across all levels of the firm to achieve common goals and drive success. We hope you enjoy this engaging conversation that offers a glimpse into the future of law firms and how Goodwin is embracing change to better serve clients and support its people. Follow Mary on LinkedIn Rate and review on Apple Podcasts
Chris Jamroz is the CEO and chair of the board of Roadrunner, a less than truck load, (LTL) trucking company. You get to learn, as I did, all about this industry as described by a fascinating man who clearly understands leadership and how to build companies as he did with Roadrunner and other companies before his current one. Chris was born in Polland. Throughout his life he also has lived in France, England, Canada and now he calls the United States home. Chris tells us that he greatly values the American way of life and finds that here he, and the rest of us, can exercise our entrepreneurial spirit like nowhere else in the world. As I said, we get to learn about the trucking industry with Chris. He also talks about the economy in general including discussing the forces that lead to events such as recessions and successes. Chris and I even discuss AI and how it will in some ways affect his industry. Chris is quite a thought-provoking individual. I learned a lot not only about his industry, but I gained knowledge about management and leadership. I think you too will value greatly from listening to our conversation. About the Guest: Chris Jamroz is the Executive Chairman of the Board and CEO at Roadrunner. Chris is a highly experienced executive focused on creating shareholder value through active executive management of portfolio companies in transportation, logistics and cyber security. Chris has made great contributions to the open office environment and culture at Roadrunner. Previously, Chris served as the Executive Chairman of the Board and CEO at Ascent, a privately-owned freight forwarding and domestic brokerage services provider. Chris has led the transformative investment in GlobalX (TSXV: JET), a full-service passenger and cargo airline headquartered in Miami, FL. He is the founding partner of LyonIX Holdings LLC, a specialty investment, equipment leasing and direct operations private fund. Before coming to Roadrunner, Chris served in executive roles at Emergent Cold, STG Logistics, and Garda Cash Logistics. He also serves as Governor of the Royal Ontario Museum (‘ROM'), Canada's largest museum. Chris is a lifelong advocate of education, promoting diversity, equity & inclusion, and mentorship. Chris has been a tenured mentor to students at Schulich School of Business. He holds a BA in Business Studies with First Class Honors (Summa Cum Laude) from Birmingham City University in the UK as well as an MBA with Distinction from York University in Canada. Ways to connect with Chris: LinkedIn linkedin.com/in/christopherjamroz Contact email chris.jamroz@rrts.com Roadrunner Company Website www.RoadrunnerLTL.com About the Host: Michael Hingson is a New York Times best-selling author, international lecturer, and Chief Vision Officer for accessiBe. Michael, blind since birth, survived the 9/11 attacks with the help of his guide dog Roselle. This story is the subject of his best-selling book, Thunder Dog. Michael gives over 100 presentations around the world each year speaking to influential groups such as Exxon Mobile, AT&T, Federal Express, Scripps College, Rutgers University, Children's Hospital, and the American Red Cross just to name a few. He is Ambassador for the National Braille Literacy Campaign for the National Federation of the Blind and also serves as Ambassador for the American Humane Association's 2012 Hero Dog Awards. https://michaelhingson.com https://www.facebook.com/michael.hingson.author.speaker/ https://twitter.com/mhingson https://www.youtube.com/user/mhingson https://www.linkedin.com/in/michaelhingson/ accessiBe Links https://accessibe.com/ https://www.youtube.com/c/accessiBe https://www.linkedin.com/company/accessibe/mycompany/ https://www.facebook.com/accessibe/ Thanks for listening! Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page. Do you have some feedback or questions about this episode? Leave a comment in the section below! Subscribe to the podcast If you would like to get automatic updates of new podcast episodes, you can subscribe to the podcast on Apple Podcasts or Stitcher. You can subscribe in your favorite podcast app. You can also support our podcast through our tip jar https://tips.pinecast.com/jar/unstoppable-mindset . Leave us an Apple Podcasts review Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on Apple Podcasts, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on Apple Podcasts. Transcription Notes: Michael Hingson ** 00:00 Access Cast and accessiBe Initiative presents Unstoppable Mindset. The podcast where inclusion, diversity and the unexpected meet. Hi, I'm Michael Hingson, Chief Vision Officer for accessiBe and the author of the number one New York Times bestselling book, Thunder dog, the story of a blind man, his guide dog and the triumph of trust. Thanks for joining me on my podcast as we explore our own blinding fears of inclusion unacceptance and our resistance to change. We will discover the idea that no matter the situation, or the people we encounter, our own fears, and prejudices often are our strongest barriers to moving forward. The unstoppable mindset podcast is sponsored by accessiBe, that's a c c e s s i capital B e. Visit www.accessibe.com to learn how you can make your website accessible for persons with disabilities. And to help make the internet fully inclusive by the year 2025. Glad you dropped by we're happy to meet you and to have you here with us. Michael Hingson ** 01:21 Well, hi everyone, and once again, welcome to unstoppable mindset. We get to interview, well, not interview, because it's the conversation, of course, but we get to talk with Chris Jamroz, who is the executive chair and the board and CEO of Roadrunner. Ah, Chris, it must be lonely at the top, Chris Jamroz ** 01:43 but it's Thank you for having me, Michael and to keep my company. Michael Hingson ** 01:49 There you go. Well, we're really glad that you're here, and I'm glad that we have a chance to visit. It's been a while in coming. I know you've been pretty busy. We we originally chatted last December, but now we get to do it, and that's fine. So I'm really appreciative of your time, and this is all about you and talking about being unstoppable and so on, and so to start that, why don't you tell me a little bit of kind of, maybe, about the early Chris growing up and all that sort of stuff. Chris Jamroz ** 02:21 So little Chris was born in Poland, behind the at that time the Iron Curtain under the socialist regime dominated by the Soviets. And little Chris spent his childhood dreaming of playing with real cars and dreaming of having a vehicle, which was a luxurious scarcity back then in that part of the world, and and looking through the Disney Disney movies, I learned a lot about Road Runner, so little that I knew that 40 years later, Road Runner will die be part of my path. But that journey has taken me through being a farmhand in France, a student in England, a banker in Canada, all the way to be an honest operator in the United States, when I finally make my way over to this greatest country on Earth, Michael Hingson ** 03:19 well, and I agree it's the greatest country, and I hope we continue to do great things. I know we're working at it, and sometimes we all tend to take some missteps, but it all balances in the end. And I think that's one of the neat things about democracy, and I'm sure you have a lot of thoughts about that, as opposed to what life was like in the Iron Curtain, Chris Jamroz ** 03:42 I certainly do. And while we do have our challenges here, and they are undeniable, the spirit of American people is the force to be reckoned with, and one of the most inspirational forces I've ever encountered my life. Michael Hingson ** 03:56 There's a lot of creativity here, and it shows and it continues to advance, and I'm sure that it will, least, that's my belief in the in the whole system, which is cool well, so you have been in a variety of countries, and I'm sort of curious, having had experience in Everything from Poland through France and England and Canada. And here, how would you come other than the country and the politics? How would you compare life in in those different countries? And what did it teach you? Chris Jamroz ** 04:34 I think, listen every every country has the unique history and culture and customs. Which argument wants life experiences when you have a chance to immerse yourself and in the local context, and if you do it truthfully, and not necessarily from a tourist vantage point, but as a as a person who tried to fit into the society. And performs, you know, a function or role, or whatever that may be. I think that that enriches one's lives. At the end of the day, you know, when you think about history, these two are all men and women brave enough to board, you know, ships and embark on a voyage to an unknown. We're willing to cut ties with everything they've ever known and the history and legacy and potential prosecution and all those things that may have not been kind to them or they were escaping from and come to North America and make the United States their home and start fresh. And what I do love about that the nation that now I call home, is that unstoppable force of entrepreneurialism, resourcefulness, resilience, that truly burning desire to accomplish something remarkable with with your life. And that's I've never experienced that anywhere else in the world. Michael Hingson ** 06:01 I've been blessed since escaping from the World Trade Center back on September 11. I've been blessed to be able to travel to a variety of countries and speak and one of the things that I very much enjoy is experiencing different cultures and different attitudes. And sometimes I may not necessarily agree with them, but it isn't about agreement. It's really about understanding and broadening one's horizons and understanding. And I think it's so important to be able to do that, to really understand where various people come from and how they live and what they do. And you know, even in the US, it is such a large country that the way you experience life in Florida or West Virginia is different than what we experience in California. And it is not to say that one way is better or worse than another. It's just all part of the same country. And what's wonderful is to see all of it meld together Chris Jamroz ** 07:01 Absolutely, absolutely, and it's, Michael Hingson ** 07:04 and it's so much fun to be able to do that, but you said that you originally learned about Road Runner a long time ago. And how did that happen? Or what, what did you learn? Or how did you experience Road Runner years ago? Chris Jamroz ** 07:17 Oh, that was, I was just being a little bit joking of watching Disney cartoons, and you know, got Michael Hingson ** 07:24 it? Okay? Wiley Coyote. As I said, there you go. Wiley Chris Jamroz ** 07:28 Coyote, but later that, I knew that would become such an important part of my adult life. Michael Hingson ** 07:33 So do you find Wile E Coyote creeping up every so often today we Chris Jamroz ** 07:38 do have we divided teams between Wiley coyotes and Roadrunners, and we have a contest and and a very healthy rivalry going between the two groups and, but it is, you know, it is nice to have something that is so embedded, and an industry culture and the name is so well known, and, and we Finding, and I think we found a way back to the original glory days of the beginning and the excitement and that kind of youthful and youthful excitement about our brand, which is a delight to me right now. Michael Hingson ** 08:16 I suppose one of the advantages of watching Roadrunner years ago in another country, is that, since it was really a cartoon with very little, if any, talking, it was easy to show without having to worry about translators. Chris Jamroz ** 08:32 But there's, there's a lot of lessons from that Michael to think about sure that that little, that little bugger, was resilient, and, oh, he was absent, and there's, there's a lot of valuable lessons to never let, never let the circumstances get you down, and always find a way to come back on top. Michael Hingson ** 08:50 And no matter which Acme Company Wiley Coyote went to to get something that never worked, correct. I was in Montreal once, and turned on the TV. It was late morning, and there I was listening to the Flintstones in French, which didn't help me a lot, not speaking French, but it was fun to to know that the Flintstones are in different languages. Yeah, Chris Jamroz ** 09:17 that's true. Our chief operating officer Hey, it's from Montreal, and he's now, obviously stateside, but there's and now we've, since we've opened service to the French Province of Canada, we maintain those links, and it's very interesting when we encounter French language in our daily emails and communications, it just gives us the the indication of the the fastness of the culture and and the customs across even this North American continent that we share, which Michael Hingson ** 09:50 is really cool. I was in British Columbia in early October of 2001 I had been invited up to. Because people heard about my story, and I went to a guide dog organization that asked me to come and speak. And we got there on Saturday, and the next day, we were down in the hotel restaurant having breakfast when the news hit the TV screens that the United States had invaded Afghanistan. What a strange feeling to be, not only away from home, but in a foreign country, when our country was responding as they did, and invaded Afghanistan because of september 11, it was, it was a strange feeling. But at the same time, people were so supportive, which was a wonderful feeling, and mostly that was the case. There were a few people who said, well, America got what they deserve, and they were really shut down pretty quickly around Canada. Chris Jamroz ** 10:53 That's correct, that's correct. Yeah. That was a very special time in our show history, Michael Hingson ** 10:58 yeah, yeah, it was and it was strange we when we were at the airport in Newark getting ready to fly across country to Canada. It was Saturday, and the airport was pretty empty, and as my wife said, it's strange to see these 18 year olds with machine guns strapped to their bodies patrolling the airport and And nevertheless, it was, it was an interesting time. Well, Chris Jamroz ** 11:31 strange to us here is actually a common occurrence, and yeah, many places around the globe to see those young men and women patrol airports and train stations with machine guides ready to be deployed Michael Hingson ** 11:43 well, and as my wife said, The problem is these kids probably don't even look old enough to know how to really work the gun, but I'm sure they did, but it was, it was an interesting time, and it's unfortunate that we, we all had to experience that, but that's kind of the nature of The world? Well, tell me a little about Roadrunner, what it is, what it does, and so on, how you got involved, rather than through the Wiley Coyote. Chris Jamroz ** 12:09 That's right. But Roadrunner originally was built as a metro to Metro, direct transportation, trucking service in the sub market referred to as less than truckload, so called the LTL. And what it means is that within you know, when you see a semi tractor, you know, speeding down and very hopefully observing the speed limit, usually about 90% of the market. When you look at those, those trucks, they are full truckloads, or referring an industry as truckloads, it's TL, TL and truckload means that all the contents, all the freight contained within the space of that trailer, is destined to one shipper. And shipper is the term we use for customers here interchangeably. So Lt. The difference of LTL is that within that same trailer, same 53 foot long trailer, you have freight for a lot of different shippers, and LTL is the sub segment of the broader trucking dedicated to service those customers who do not have the need or cannot necessarily afford the cost of chartering the whole trailer, and that may not have any specific need to for that kind of space, and they utilize pallet positions within that trailer to transport the freight from point A to point B. That accounts for about 10% to 20% depending on who you talk to of the overall market, and it's and Roadrunner became an expert and a specialist in taking loads directly across the continent from it started in Milwaukee, in Cudahy, Wisconsin, and Shooting loads directly to America's southwest to, you know, and back that's obviously was linked to the port activity and intake in intake freight input point from Los Angeles and Long Beach ports. But he became an expert, and over time, the different management teams and different constituency of shareholders embarked on a strategy of growing it across different modes and a lot of things, and it became bit of a problematic story for the last four years. We We spend a concerted amount of time and discipline effort to unwind those those layers and bring it back to the specialist metro to Metro, long haul, specialist tracking service, which has kind of helped us resume our path to sustainability and excellence. Michael Hingson ** 14:52 Is there a lot of competition for well among LTL companies? Yeah. Chris Jamroz ** 15:01 I think there's a fair degree or healthy competition among them. It's, it's a fairly limited market of players. It's, I came up through my, through my experience in LTL, I I've coined this phrase that LTL stands for, less than likely to go perfect. It's, you know, despite the fact that you think it's a pretty simplistic concept of picking up the palette in in Philadelphia and delivering it in Dallas, it's actually an extraordinary complex and difficult to execute service, and from a perspective of being on time, of not losing, not damaging, the freight and trust to you. And obviously do it in a sort of in a fairly compressed timeline. So it is, it is a very specialist place. It's very different from what I mentioned, about 80% of the market, which is the truckload market, which is, you know that, you know, full trailers picked up from pay B, they just go to to the destination. This one is a consolidation play. There's, there's different touch points. It's a very complex so while the competition is very healthy, it's a good competition because it's sort of a tide that raises all the bonuses. These are very high quality providers, and as we compete, our customers win, Michael Hingson ** 16:29 yeah, which is kind of important, and as long as everybody recognizes that it makes perfect sense that it ought to be that way. Why are what makes Road Runner kind of unique, or what sets it apart from other companies. Chris Jamroz ** 16:42 What it said that we specialize in doing that one thing, which is taking loads directly and connecting a very far apart points across the United States, Canada in increasing Mexico direct. So a lot of large, large carriers or trucking companies have a very densely populated terminals, and they've, you know, they may have in excess of 300 terminals in the United States alone. What they do is they like very much, like an airline. They created a sophisticated hub and spoke system where the shuttle service connects the entire network. So for example, the freight from picked up from Long Beach destined to a planner may go through five different hubs as the network is designed. The problem with that is that every time you have to go into an LTL trailer, that means the forklift drives inside, lifts the pallet, needs to take it out, then take the cross to CrossTalk, puts in another trailer that's going to be destined to the next point and stop on the way. Damage happens, loss happens, and time is wasted, just and time is wasted. So what we do is we only have 36 terminals, but we we're in major metro, Metro, Metro to Metro connectivity. I always say that if you have a professional sports team, ideally a good one, and you we're going to have a terminal there in those settings, and we use our team drivers, and we just just shoot those votes straight across. So we compress the time that it takes to traverse the distance, and we eliminate those points of rehandling of powers and freight and greatly reduced the risk of loss, the risk of damage, etc. Michael Hingson ** 18:48 And presumably, as part of that, you are very creative in scheduling, so that when you take a load somewhere and you get to the final destination, you also have other material to pick up, to go back or to go elsewhere, so you don't leave trucks idle very often, Chris Jamroz ** 19:06 correct. So that's that's the art and the science of network design. Yeah, the way we execute it. We obviously have tremendous amount of data analytics and algorithmic tools to help us route this way, because at the same time, not just the trucks sitting idle, but the drivers don't like, you know, drivers like to drive, because when they drive, they make money, yeah, and that's we are very good at keeping them on the road and making money. Michael Hingson ** 19:38 So what got you started in deciding to be part of Road Runner and and working up through the system to get where you are. Chris Jamroz ** 19:47 You know, over the last two decades, I've become a sort of a specialist in unlocking trapped value in logistics companies across all modes of supply chain, globally and Road Runner. Certainly one platform with very severe challenges and and I really loved the story. I was completely taken by the strength and of and the resilience of its people. And I really thought it's an incredible opportunity to orchestrate a turnaround like no other in the trucking industry. And while it may sound a little bit arrogant, it's not meant to be. But you know, as I've heard it from equity analysts and bankers, many, many trucking companies have attempted turnaround and restructuring, and very few ever made it. There was a time when Old Dominion road lawyers, which is one of the best, arguably the best LTL carrier in the nation, they used to suffer from terrible reputation. And I remember they were called the referred to as the old smelly onion. Today it's a gold standard for all of us in this business to aspire to. But there was a time in the 90s when they suffered greatly and they orchestrated a spectacular turnaround. And there were there were some others as well, but road run in recent history is definitely the most spectacular comeback in that space. Michael Hingson ** 21:21 Well, it obviously, in part, has to do with being very creative and figuring out ways to do exactly what you do, which is to get material from one place to another, minimum of any transfer from one truck to another, because you're right that can cause a lot of damage, and it does take a lot of time, and I'm sure that the result of that is that drivers appreciate it as well. Chris Jamroz ** 21:46 Drivers do. Drivers are, you know, hardworking people. It's tough to think when, when I do about more a group of of the more patriotic pillars of our society. Drivers are a true American entrepreneurs, and we pride ourselves in empowering them and putting them in business and helping them build their own businesses. And we have, you know, so many success stories that filled our hearts with pride. But at the end of the day, drivers stay and drivers support carrier that helps them make money, that means, helps them busy, stay them enrolled, gives them good loads. And we have become, you know, we've kind of prioritized this as our core competence. Michael Hingson ** 22:32 So with all of that, how was it during the whole period of covid? Because, of course, a lot of things happened. A lot of things shut down, and a lot of things changed because of covid. How did all that affect Roadrunner and what you do, and how did you all come out of it? Chris Jamroz ** 22:53 We certainly, we kind of started the restructuring, and literally in the beginning of March, which was in 2020 which was like two weeks before the entire country shut down. So obviously that made it for a very interesting time in our life. But Trucking is such an essential service, it never stopped, right? Without trucking, nothing gets delivered. You cannot do anything. It's probably next to the sanitation services, I think, the most critical part of American or any economy for that matter. And so we worked, we worked interruptly through the pandemic. We were very focused on rebuilding our business and fixing our operations so everything that was happening external to our business were kind of very much in our peripheral vision, because we had so much work to fix our business from inside out, and that kind of kept us busy for for pretty much the next two and a half years. Michael Hingson ** 23:58 So covid was kind of a good impetus and an excuse to to do the things that you you knew you kind of needed to do anyway. It Chris Jamroz ** 24:06 was a good it was a good time, because we would have had to do it anyway. But the people were so distracted by, obviously, the stress of of the situation, that kind of took the focus completely away from what we were, what we needed to do. And I think that was a blessing. Michael Hingson ** 24:25 Several um, weeks ago, I had the opportunity to chat with a gentleman named Glenn Gao, who lives in Northern California, who's a business leader coach, and he promotes the whole concept of AI and specifically managers using AI to help create ideas to improve what they do and to improve their companies and so on. But one of the discussions we had, um, and he and he said something very interesting during the discussion. But one of the discussions we had was how AI is going to affect. People as we go forward, and one of his positions was artificial intelligence, and all the things that are going on with AI doesn't eliminate jobs. Rather, people eliminate jobs because either they they find that they can do things cheaper, but they're they're not really doing themselves any good by doing that, because what AI should really do is where relevant help redefine jobs. And one of the things that we talked about was exactly the whole concept of truck drivers, when AI and autonomous vehicles come more into existence, what will happen to truck drivers? And his point was, even if you let a vehicle operate autonomously and it's completely safe, what that really should do is not to require a driver to not be in a truck anymore, but rather, you find other responsibilities and other things for the driver to do while monitoring the Driving of the vehicle no matter how safe it is. And so that that prompts the question, what do you think about the whole issue of autonomous vehicles and AI, and where you think that might might go over time? Because I tend to agree with Glenn, it shouldn't eliminate jobs. It may cause some expansion or redefining of jobs, but not elimination. Yeah. Chris Jamroz ** 26:21 I think, listen, this is a, obviously a topic that could take a day, and everybody has no yeah. I always, I always love watching those clips from the news, yeah, news from the 1990s when the first the internet, the World Wide Web, was introduced, and people kind of speculating with it, if it's going to, you know, mean anything you want to. You don't want to be that guy who voices an opinion that gets recorded, and 20 years later your kids get to see it. What you know, What a dumb Damas your dad may have been. This is, this is one of those. So I have a very specific view on this. I, you know, I always kind of think that are certain tools that I invented that help things, and some of them were very useful and don't necessarily make the life easier. An example for that is a vacuum cleaner. You know, when I, when I was born, the vacuum cleaner was still a novelty and not particularly a widely think what was happening that once a year the entire Thai family would gather to take one or two rugs that that were present. Now, take them outside, clean them, usually in the snow, because I was thinking, and come back and just enjoy the freshness for the next year. Now the vacuum cleaner comes a genius invention. Genius invention. What do we do? You know, if my mom would have her way, I would be vacuum cleaning every day, just instead of a once a thing. I have a hobby now that every time my mom is a pond to one thing, I'd better get on that and get it clean. So did it really save us? I don't know, but definitely it's full invention, AI broadly, I think has has an immense impact on our lives, to the to the extent that I don't think anybody can even appreciate right now, in terms of the logistics business, I actually think there's very limited impact of what AI can do. And this is a sort of, and this is very humble opinion, after, you know, spending the two decades and fixing different supply chain businesses, and it's just the unpredictability, the the size of these, you know, statistically viable data samples, the the the the patterns of different outcomes is just impossible to scale and up until you can lift A pallet from Portland and and it can traverse in Metaverse to Chicago. You still need a truck, you still need a forklift, you still need someone to oversee this, right? So definitely impact on jobs and logistics, I'd say minimum. I think basically, maybe quality, the quality of service, perhaps we're using machine learning and AI algorithmic methodologies in our static load plan, which basically means routing the freight the best possible way. But at the same time, it's not an infinite benefit game. At the end of the day, you have a night 10 corridor and you have a truck that can traverse as the speed limit. And what is the best case? It's just there's very limited outcomes to the upside here. So I think the AI in terms of the, you know, in terms of the logistics space, will have probably the most commute. It effects of across the board, if I think about it, and definitely as I'm looking forward to the marginal benefits, I don't see it as a particular needle mover for us here. Well, Michael Hingson ** 30:13 as I said, even if you could completely automate a vehicle so that it could drive itself, and that's fine. I still say that ultimately, I would never want to remove the driver from the vehicle, but rather give the driver other things to do to help the company. And they're the creative people will figure that out, and I think that there is no way that it should eliminate jobs. It's ridiculous to think that it's supposed to enhance and I think that there are ways that it will, whether vehicles will really become fully autonomous anytime in the near or intermediate future, at least, is is open to conjecture. But I I don't like the idea of, well, it's going to eliminate jobs. I don't believe that that's true. And I think that's what you're saying as well, and it makes sense. Chris Jamroz ** 31:07 Yes, yeah. Well, Michael Hingson ** 31:09 so in terms of shipping and logistics, what does, if you will, shipping and logistics indicate about kind of the broader economy, because it's certainly listening to what you said earlier. It continued during the pandemic, and I guess that means economy continues. But in general, just the whole industry. How does that affect or fit into the whole issue of the economy, and what your industry does for the economy? Chris Jamroz ** 31:41 So you know, the American economy, every economy has a different mix of drivers, right? The American economy is a consumer driven economy, right? A percent of the GDP is driven by the discretionary consumer spend. So everything that you and I go and, you know, whether we go to a restaurant or go to the, you know, go to a wonderful vacation spot and buy it, you know, a plane ticket and book a hotel. All those kind of things make a difference. And obviously our discretionary shopping habits, that's critical. LTL is very much driven, you know, the entire supply chain accounts for 8% of American GDP. So it's not insignificant, and it is a sort of a barometer of activity. The broader, the broader trucking index could be an indication of of many drivers in common with this, whether that's industrial out of gage, project driven infrastructure investments by, you know, oil and gas sectors, or public works, or earth moving projects, you have all this kind of interaction with LTL is predominantly linked to e commerce near shoring and a little bit to the Import activity that when we have goods imported, they enter United States either through the port of New Jersey, New York or Long Beach, Los Angeles, and obviously Seattle, Tacoma or Charleston and Houston have all these kind of different entry points and and we monitor this. So we definitely are continued to be in a third year of recession, or this, you know, the tail end of the second year of recession, a freight recession. That is where the the volume of shipments have been dramatically, muted, dramatically, and then we continue to see the excess capacity, the full truckloads that I spoke about earlier, they hurting the most from the truckers. LTL is a fairly protected niche, and again, e commerce, which is still alive and healthy near shore, obviously growing in abundance and significance. That's also helping and so those the LTO is a little bit insulated from their role, and I wouldn't, and it's never particularly good or more reliable, most reliable gage of American economy or its health, the truckload is probably in other modes of trucking are more indicative, I would say. But again, you know we can, you know this was, you know what we experienced in 2021 and beginning of 2022 which was unprecedented peak and that benefited all people in supply chain, that obviously has been a peak in a cyclical business. And no matter what you call it, the transportation business are commodity businesses. And commodity businesses cycle, and some of the modes within that sector cycle more violently than others. And and we are at the trough of that cycle. And and probably will be here for quite some time, because we see before we see any mean. For recovery. Michael Hingson ** 35:00 Why is there such a upright recession right now? Chris Jamroz ** 35:06 What has happened is, if you remember that, there's couple of things, number one, at any cycle, at the peak of a cycle, a lot of people make decisions, and there's this unimpeachable view of self, intellect among them, among some of the decision makers who think, Okay, this time will be different, and this time, we won't let this slip. And there are decisions made at the peak of the cycle that have consequences or carry the consequences through the trough. Those decisions in our industry usually impact capacity, such as the number of new orders for trucks and trailers and terminal expansion when, when you look at this never, ever before in the history of mankind, more tractors, trailers and terminals have been commissioned or ordered than it were in 2021 and 2022 all These orders are now coming, then, creating unprecedented capacity. And now mind you, 2020, and 2021. Tested, you know, tested our ability to function without the ability to interact with each other. So you remember, we all remember, everybody was stocking up on just about any house, good supplies, you know, toilet paper, Clorox and disinfectants and just about anything, and the volume was just that no matter how much capacity you had, you you didn't have enough to satisfy the thirst of the consumer back in those days. So people made a lot of decisions. Most profound were those of ocean shippers who commissioned more supermax container ships than ever, ever in the history of the planet. And all these ships are being launched right now in the second world so soon in the second part of 2024 never before we had such a non swap of new supply in the notion, which obviously collapsed the pricing and in an ocean market. And that has a domino effect through, you know, starts with an ocean, because everything comes from China, Indonesia, India, Vietnam. Nothing comes from, you know, nothing comes from, you know, from the American Midwest anymore to meaningful thing now, thankfully, that's been offset by those near showing trends and the resurgence of Mexico and infrastructure investment in manufacturing on this continent, which is phenomenal. But you know, you had that, that onslaught of capacity and carried from ocean ships through through train cars, through tractor trailers, through new terminals, and, you know, they're just, you know, we, we didn't stay at that peak. You didn't, you know you're not. You don't have a three month supply of paper towels in your cupboard, probably today. And those trends reversed, and they kind of reverted to more historical median. So we went to the median shipping, not not anything dramatic, but we overbuilt capacity to to to support an abnormal volume demand. So you have this, you know, you have anybody who could have a truck, you could became an instant billionaire, right? If you could commit a thing, and you could drive the truck and take somebody's cargo shipment from it from one point to another. You're in business, and you're doing extremely well. And then that, you know, at the same time, the government stimulus, the low, super low interest rate, the financing, those, those things you picked for nearly nothing in terms of financing costs, and those covid leases are still in place. So we have a bit of a delayed effect of people exiting the industry, which is a normal thing in a down cycle, and it's prolonged, because the cost of the equipment is a lot cheaper than ever before in the history of economic cycle. So you have this prolonged exits which have not rationalized the supply demand equation. You have those very committed, serious infrastructure investment in terminals and expanding the infrastructure for handling exuberant amount of freight in this in this country, and that kind of makes it for a fairly miserable outcome for for those who try to make a living in transportation. Michael Hingson ** 39:29 Do you think that there are things that we could have done to prevent what happened? Because it's it seems to me that it is a cycle, but at the same time, how could we have avoided it, given what happened in the pandemic and everybody was stocking up and so on, how could we have avoided doing exactly the thing that occurred, which now leads to the recession in this industry? And I'd be also curious to see if you think that that's going to spread. Further to the rest of the economy. But how could we have avoided it? Or could we have, Chris Jamroz ** 40:06 I don't think so. Now you'd have to convince people to hate making money, and that's that's a tough thing, because at the peak of the cycle, every incremental capacity you know delivers extraordinary monetary benefit. So you would, you would have to ask for restraint and discipline. That is, is not natural to us, a natural to us as humans, and definitely not part of the American, American fabric, which is obviously opportunist, opportunism and entrepreneurialism. So, and it's there's a history of that every unprecedented event, if you go back in history, tend to occur every six to seven years. We have that unprecedented event of of a of a decline in the trough that that one can fully expect we in the decade the smarter people. I mean, that's that's sort of a South tyling Kong. But you know it when, in our business, we really reserved a lot of cash in 2020, and 2021, and I directed all of my management teams to just prepare for inevitable recession and entering entering with a high, you know, high reserves of of cash helps you through the town cycle. People who have leveraged themselves to the tilt and the pursuit of getting access to that capacity can deploy to earning, earning activities, have found themselves disappointed and and at the point of, you know, difficulty or despair at times, and many of them have since exited the industry or the business and all together. But it's not a it's not, I don't think it's avoidable. It's a cyclicality of commodity businesses, a lot of businesses, go through cycles. Oil and Gas is a violent cycle, ocean shipping, transportation, businesses of all coins, all of them are extraordinary. Link to economic gravitas, and that just, you know that just happens. The question is that, can you make the landing as soft as possible? Well, because you cannot avoid not going down, Michael Hingson ** 42:18 yeah, which is really the wisdom and the thing that you have to do, we can't prevent it, but at the same time, we, if we are wise, we can prepare for it. And that makes perfect sense, because it's it is one of those things that just too many people just run right into things, and they do things, they just react. We have too many knee jerk reactions without strategizing, and that's part of the problem. So what you did is clearly the way to go, and the hope is that you're predicting enough of the recession and the level of it that that you'll be able to survive it and it won't become too bad. Chris Jamroz ** 43:02 Yeah. I mean, listen, people at the peak of the cycle have difficulty seeing the cliff. They always try to believe that this time will be different and and it won't end up in tears like every single time beforehand. At the same time, people at the bottom of the cycle can sometimes pass. He passed the doom and gloom of the misery of today. But you know, as Rumi, the poet, says, This shall pass too. Yeah, say, and it's just, you know, you can never predict. And I don't you know, there's just you know all the even you know a broken clock is, is right twice a day, which is one of my favorite sayings, and right if you perpetually predict the negative you one day, you'll be right. If you you know a perpetual optimist, one day, you'll be quoted that you had predicted it. But I don't think there's this ability to put the timing on severity of these swings. What you can do is to do your absolute best to prepare for the cyclicality and inevitability of a of an economic cycle that impacts industry that are commodity industries, and try not to believe your own headlines. That's one of my favorite sayings to the things just when you have this kind of, you know, exuberant confidence in your own ability, but there's always a healthy check in that is, that is required and, and I always tell the management team don't, don't. You know, we very good, but we're not that good, and never, ever believe in your own press releases. Michael Hingson ** 44:27 Yeah. Well, one of my favorite sayings is, don't worry about the things that you can't control. Focus on what you can and let the rest take care of itself. And you can't control the recession concept or recessions, necessarily, but what you can control is how well you prepare for it, and you think about it far enough in advance or sufficiently that you prepare as well as you can, and that's all you can do. Chris Jamroz ** 44:52 Yeah, well said. Michael Hingson ** 44:54 So I assume that right now, rates are cheaper than they have been in the past, and this is a good. Time to ship. Chris Jamroz ** 45:02 It is a good time to ship. It is a good time to ship, particularly from, from a perspective of past. You know, years of 2020, 2122 and but you know, you don't. You know, the rates are byproduct of capacity and demand, right? It's always, there's the markets are very efficient when they find a market clearing price or rate for any service. The key is that you know, what do we do? Like about the LTL industry, that all the carriers are disciplined, so while everybody, nobody will be reporting record earnings this year, the what we do provides an adequate return on capital to provide for continuity and sustainability of our enterprise. Well, Michael Hingson ** 45:49 it sounds like that you and what you do with Roadrunner, and I think in other places, have built companies and made them successful. And I think the most important part about that is that you build good teams. How do you do that? Chris Jamroz ** 46:07 You know, everybody wants to play on the winning team. I've learned that fairly, pretty often, if you want. You know you could be not necessarily the easiest coach or not the kindest general manager of a sports team, but the players who want to join and come and play on the team, if you, if you win in championships and and it's all about the creating the little victories and momentum and creating the positive momentum, because it kind of takes a life of its own. And it's all about velocity of decision making processes. These are sort of a things that when, when I see, when I see organization crippled, you know, by the paralysis by analysis. And they kind of these full of smartest people in the world, but they just cannot make the right decision that they spend endless time through, you know, trying to model different outcomes. You attract top people who believe in the ability to become very effective as leaders, as managers, by combining the intelligence, the talent, the respect for data and analytics, and they empowered to make decisions, and they empowered to make a difference. That, you know, even through my life, you know, I've seen how many changes and the generations that are entering the workforce today are very different in behaviors that even Iowa's. And the contrast is quite stark, but what it is very magnetizing to to them is the ability to be impactful and do something they truly believe in, and do the right thing, and based upon very objective analysis, as opposed to, you know, do it because I say so, or gut based decision making and and so forth. So my teams, my management teams, evolved quite rapidly. You know, the last 1415, years, you know, I've had about probably 90% rotation in 19 million continue to upgrade, and so can people continue to find different paths so they just not good enough as the caliber of challenges I take on increases, but you know, I'm thrilled to see so many incredibly young, young folks on my team doing things that are just almost, you know, I could only describe as inspiring to me. Michael Hingson ** 48:47 There's something to be said for energy, isn't there? Chris Jamroz ** 48:51 Oh, energy is key. And from the leadership perspective, you need, you absolutely need credibility. So you need to act with integrity, authenticity. You need to win the respect of the people by fighting alongside with them in the trenches, you know, and being a very high energy leader, I think, is critical, particularly in industry as ours, right. I love the kinetic movement. I love the energy released by by transport and moving and and I lead the way that I would want to see the people around me behave, and I think that's critically important. Michael Hingson ** 49:33 Yeah, I think there's a lot to be said for the fact that people need to relate to you and to leaders, because if, if they can't relate, if they can't really feel like they're part of the team, then they never will be. And the leaders, the person or the leaders, are the people who need to make that happen. Chris Jamroz ** 49:57 I agree. I think there are different industries that. That that that aspect that you just mentioned is extremely important, logistics, absolutely. But there are different industries like, think about law firms or hospitals. They doctors don't need to be inspired by leadership. Lawyers need to be inspired by the Management Committee, the excellent professionals, and they operate within their own scope of autonomy, and they phenomenal what they do in logistics. It doesn't work. You could be the most brilliant person in the room. If you do not win the hearts and minds of your fellow teammates, you're not going to get anything done. And that is critical, because, if you and that's why logistics business, particularly those who do extremely well, have leaders, who have, you know, extremely personable, personable with a very high degree of energy. They're not, you know what you would have imagined in the past. You can see and sort of even the if you look in SMP and stock performance and and the shareholder value creation. You those firms who have very passionate, charismatic leadership teams tend to outperform dramatically the rest of the peer cohort. But Michael Hingson ** 51:12 even in a law firm, if it's a real firm, and I think that's the issue, if it wants to operate as an entity, even the lawyers have their own cases and so on. But if, if it really wants to operate as an entity and find ways for people to collaborate and work together or work with each other at least, then there's got to be some level of leadership in it. And it sometimes happens, and then sometimes it doesn't. And I think that's true in in a lot of industries, but the best companies are ones where there is a a leader or leaders who can bring people together and make people all work toward whatever the common goals are, absolutely yeah, what's the best part of your job? Chris Jamroz ** 51:58 You know the best part is seeing the people who have worked so hard, committed so much of the personal time and sacrifice of the years come to work, and you see that moment when there there are sparks in their eyes, when they see that their work matters and they Making a difference. And there's nothing more fulfilling, because everybody wants to be, you know, on the winning team. And you know, in the history of roadrun, which is obviously the most current one, but every other business that I've had the privilege of of being at the helm. You When? When, when people who make the companies start really feeling that they've made the difference and their contributions matter, and they're being appreciated, and the work shows there's no greater feeling in the world. So Michael Hingson ** 52:49 what, what influences you? I mean, obviously you learn. You find ways to learn, and things need to probably influence you to to get to think the way you do. What are the things that influence you in the world, other than Acme and the Wiley Coyote? Chris Jamroz ** 53:11 You know, this is I, I've, I've gone through my share of role models and mentors, and, you know, I'm profoundly grateful for the influence they've had on shaping the character of a person that I am and, and the business person that I've become and, and there were many right now, it's really sort of, you know, as you kind of, as I'm, you know, becoming more mature. It's really a kind of creating legacy and living legacy, and doing that through passing the proverbial baton to the new generations and seeing people step up and grow and become more confident in their abilities and truly believe in themselves, that's really is is is tremendous. And I think that's you know, as you know the you know, the my 20s and 30s, and soon the 40s will be over. The next, the next decade in my life will effectively about creating the living legacy, and that's probably the most powerful influence in my life. One Michael Hingson ** 54:18 of the things that I've learned came from being a member of the largest consumer organization of blind people, the National Federation of the Blind, and the president of the Federation, years and years and years ago, started organizing what he called Leadership seminars. And that's continued with later presidents. But one of the things that the President said, well, actually, a question that he asked, I remember it clearly. It was on the Saturday Night of the seminar, is what is the most important thing that the president of the organization can and should be doing? And his response, after hearing what other people said, is. Because the most important thing I think the President has to do is to be looking for his successor, because there will become a time that he doesn't get to be president anymore, and if the organization is going to continue, then the President needs to be the one to find the person who can take over and do what needs to be done going forward. What do you think about that? Chris Jamroz ** 55:28 I think it's very profound. I think it's critical. I I've, you know, through my, through my adventure and logistics, you know, I've been at the helm of, you know, now, the helm of eighth and ninth organization, and I've done, I've executed seven exits, and every single time that I left, what was left behind was a fully sustainable management team that could take, they would take the operation to the new The new level, but it would be their, their story wouldn't be mine anymore, right? And it's, it's tough. It's tough because first you first there's, we're humans, and we develop emotional connectivity. If we have the humans we obviously we relate, relate to fellow humans and and we we like what we do, and we tend to touch so it's difficult to let go. Second of go, particularly things going well. There's, you know, we tend to develop. There's an impeachable view of self, intellect and supremacy and irreplaceability, which is complete and nonsensical, but it is human. And I've maintained a very healthy discipline of not staying at the helm of any organization for more than three, four years, and and that's, you know, that's, that's very healthy. And I think at any given time you you have to create because, to be honest, if especially in today's, today's society, if people do not see the path forward, if they think that their abilities will not be recognized within the meritocracy of the organizational dynamics, they will leave the competition for talented spheres. And it's not a defensive play, but it's makes organization better. I've seen a lot of executives trying to hang on to the spots for decades and and to be honest, all they've accomplished. I think it's time. The the potential that organization could have had doesn't mean the businesses are not performing, but I think the reasons could have gone a lot further. And but it's time. It's difficult, right? We don't want to seem we don't want to see ourselves as impediments to growth. Who wants to think of themselves by that? It's I think, but I think it's a very healthy habits. As much as I'm a firm believer in term limits and in certain government fears, I'm a strong believer in term limits at the helm of commercial organizations, and I've lived by by example of that, having, you know, having exited seven times already. So my average tenure is just under, you know, just about two and three years well Michael Hingson ** 58:12 and and obviously you Leave when you know that you've been able to put together a team, and even possibly including a person at the top of the team who can take over and continue the growth or whatever it is that the organization needs which is important, Chris Jamroz ** 58:28 absolutely, absolutely. So Michael Hingson ** 58:32 on a personal note, what do you do when you're not being CEO or chair of the board? What kind of hobbies or pastimes and other things like that do you do to be a little bit more frivolous in the world? Chris Jamroz ** 58:45 So my absolute thing in the world is kiteboarding, which I don't get to do enough, but it is aspirations. Kiteboarding and sailing. These are the most relaxing things I can ever envision doing in my life, and it's been quite some time since I since I've sailed, and it's been quite some time since I kite board, so like, I'm targeting, you know, the end of this year to maybe get at least a few weekends out in The ocean, as Michael Hingson ** 59:21 long as the sharks leave you alone. Chris Jamroz ** 59:24 Well, if you outrun them, Michael Hingson ** 59:26 well there, there's that. That's fair. Okay. Well, Chris, I want to thank you for taking so much time to be here. My hope that you've enjoyed it and had fun. I certainly have learned a lot, which is what I always like to do. And I really appreciate you taking the time to spend with us and making this, I think, a relevant and memorable podcast for people to hear. I Chris Jamroz ** 59:49 could absolutely and thouroughly enjoyed myself, and thank you so much for inviting me and having me on your show. Michael Hingson ** 59:54 Thanks very much for listening to unstoppable mindset. We hope that wherever you're listening, you'll get. Us a five star rating. We value that very highly. If you want to comment on this podcast, I'd love to hear from you. You can reach me at Michael h i@accessibe.com, A, C, C, E, S, S, I, B, e.com, you can also go hear other podcasts anywhere podcasts are available, especially you could go to www dot Michael hingson, M, I C, H, A, E, L, H, I N, G, s, o, n.com/podcast, but wherever you listen to us, please give us a five star rating. We value that very highly, and we hope that you'll come back and visit with us again next time. On unstoppable mindset, you music. **Michael Hingson ** 1:00:45 You have been listening to the Unstoppable Mindset podcast. Thanks for dropping by. I hope that you'll join us again next week, and in future weeks for upcoming episodes. To subscribe to our podcast and to learn about upcoming episodes, please visit www dot Michael hingson.com slash podcast. Michael Hingson is spelled m i c h a e l h i n g s o n. While you're on the site., please use the form there to recommend people who we ought to interview in upcoming editions of the show. And also, we ask you and urge you to invite your friends to join us in the future. If you know of any one or any organization needing a speaker for an event, please email me at speaker at Michael hingson.com. I appreciate it very much. To learn more about the concept of blinded by fear, please visit www dot Michael hingson.com forward slash blinded by fear and while you're there, feel free to pick up a copy of my free eBook entitled blinded by fear. The unstoppable mindset podcast is provided by access cast an initiative of accessiBe and is sponsored by accessiBe. Please visit www.accessibe.com . AccessiBe is spelled a c c e s s i b e. There you can learn all about how you can make your website inclusive for all persons with disabilities and how you can help make the internet fully inclusive by 2025. Thanks again for Listening. Please come back and visit us again next week.
Steve Young a Partner, the Chairman and Co-founder of HGGC Steve is a Partner, the Chairman and Co-founder of HGGC. Steve is a member of HGGC's Management Committee, Investment Committee and Valuation Committee. He serves as Chairman of the Board of three HGGC portfolio companies: IDERA, Integrity and AutoAlert. Prior to their sales, he also served as a member of the Board of Directors for the firm's exited investments in hybris Software, Dealer-FX, Serena Software and Sunquest Information Systems. Prior to the inception of HGGC, Steve's professional football career spanned more than fifteen years in the NFL, primarily with the San Francisco 49ers, where he received numerous accolades, including Most Valuable Player of Super Bowl XXIX, Sports Illustrated and Sporting News' Player of the Year from 1992 - 1994 and the NFL's Most Valuable Player for 1992 and 1994. In 2005, Steve was inducted into the Pro Football Hall of Fame, the first left-handed quarterback to be so honored. When he retired, Steve was the highest-rated quarterback in NFL history and has the distinction of being the only signal caller in league annals to win four consecutive NFL passing titles. Steve founded and chairs the Forever Young Foundation which is actively involved in children's charities worldwide and is currently the broadcast host as well as the former International Spokesperson for the Children's Miracle Network, which has raised over one billion dollars world-wide to benefit children's hospitals.
John is joined by Jon Ballis, the Chairman of Kirkland & Ellis, LLP, one of the world's leading law firms with approximately 3,500 attorneys around the world. Jon describes his path to leadership at the firm, from joining Kirkland in 2005 from another firm as an M&A lawyer without aspirations for management, to his election to the Management Committee and his elevation to Chairman in January 2020. Jon explains Kirkland's governance, emphasizing the firm's flat organizational structure and the absence of many formal titles which he believes encourages organic leadership development. He also explains Kirkland's unique Nominating Committee system, which seeks to avoid entrenchment and favoritism by allowing members to serve on the Nominating Committee only once in their careers. They also discuss Kirkland's strategic focus, particularly its approach to talent management and strategy. Jon says that the firm's strategy is client-driven, evolving organically based on where its clients are heading, rather than adhering to a rigid, top-down plan and how this client-focused approach has led to Kirkland expanding its private equity practice to include areas like energy, infrastructure, and private equity credit. Jon then explains Kirkland's approach to compensation and lateral hiring, dismissing the idea that Kirkland "buys business" through offering high compensation for laterals based on their “book of business.” He says that the firm focuses on hiring talent to meet growing client demand. He says that Kirkland's litigation business grossed almost $2 billion last year and operates at close to the same margins as its transactional business. Jon then discusses the merit-based compensation system at Kirkland, which is subjective and not formulaic. Every two years, the firm conducts a review and assigns each partner a set number of points that determine that partner's compensation for the next two years. Jon explains Kirkland has two classes of nonequity or income partners, one class that are on track to either become equity partners or move on and a second class of permanent income partners. Finally, John and Jon discuss the challenges of maintaining leadership in the legal industry, including the importance of continuous improvement, innovation, and a willingness to take risks to maintain excellence.Podcast Link: Law-disrupted.fmHost: John B. Quinn Producer: Alexis HydeMusic and Editing by: Alexander Rossi
On today's podcast, we'll chat with two global asset-allocation specialists, Omar Aguilar from Charles Schwab and Sébastien Page from T. Rowe Price. Omar is CEO and chief investment officer for Schwab Asset Management. Before joining Schwab in 2011, he worked at a variety of firms including Financial Engines, ING Investment Management, Lehman Brothers, Merrill Lynch Investment Management, and Bankers Trust.And Sébastien Page is head of Global Multi-Asset Investing at T. Rowe Price, where he oversees a team of investment professionals dedicated to the firm's multi-asset portfolios. He's a member of T. Rowe Price's Asset Allocation Committee, and he's also a member of the Management Committee of T. Rowe Price Group. Prior to joining the firm in 2015, Sébastien was an executive vice president at Pimco, where he led a team focused on research and development of multi-asset solutions. And he was a senior managing director at State Street Global Markets before that.BackgroundBios: Omar AguilarSébastien PageBeyond Diversification: What Every Investor Needs to Know About Asset Allocation, by Sébastien PageCurrent Economic Environment“Eight Ways RIAs, Investors View Markets Over the Next Year: Schwab,” by Dinah Wisenberg Brin, thinkadvisor.com, June 14, 2024.“The Fed Will Now Focus on Unemployment and Labor Markets, Says Charles Schwab's Omar Aguilar,” Video interview on Closing Bell: Overtime, cnbc.com, July 15, 2024.“All Eyes on Central Banks,” 2024 Global Market Outlook Midyear Update, troweprice.com, June 2024.“Inflation's Ripple Effect on the Economy,” Market Overtime interview with Omar Aguilar, youtube.com.“Why a Weaker Jobs Market Is Sparking Recession Fears,” by Scott Horsley, npr.org, Aug. 2, 2024.“Inflation Coming Down Too Fast Could Hurt Earnings, Says T.Rowe Price's Sebastien Page,” Video interview on Closing Bell: Overtime, cnbc.com, Jan. 30, 2024.“The Four Horsemen of the Recession,” by Sébastien Page, linkedin.com, June 2, 2023.“US Economy in ‘Solid Position' Despite Slowing Job Growth, Says Schwab's Aguilar,” Video interview on Squawk on the Street, cnbc.com, Aug. 4, 2023.“Special Topic: Can the Fed Cut Rates With Financial Conditions This Loose?” by Sébastien Page, linkedin.com, June 27, 2024.“2024 Global Market Outlook: Tectonic Shifts Create New Opportunities,” by Arif Husain, Sébastien Page, and Justin Thomson, linkedin.com, Dec. 21, 2023.Asset Allocation“Perspective: Asset Classes Versus Risk Factors or Asset Classes and Risk Factors?” by Sébastien Page, The Journal of Portfolio Management, Dec. 31, 2023.“The Myth of Diversification Reconsidered,” by William Kinlaw, Mark Kritzman, Sébastien Page, and David Turkington, The Journal of Portfolio Management, August 2021.“Personalized Target-Date Funds,” by Kobby Aboagye, Sébastien Page, Louisa Schafer, and James Tzitzouris, The Journal of Portfolio Management, March 2024.“The Hottest Debate in Asset Allocation: Value vs. Growth Stocks,” by Sébastien Page, linkedin.com, April 25, 2024.“The Sector X-Ray,” by Sébastien Page, linkedin.com, Aug. 31, 2023.Valuation and Interest Rates“When Valuation Fails,” by Sébastien Page, linkedin.com, May 29, 2024.“Relative Valuation: A Crucial but Imperfect Guide,” by Sébastien Page, linkedin.com, Feb. 8, 2024.“Is the Market Broadening?” by Sébastien Page, linkedin.com, Jan. 8, 2024.“Let's Get Real (About Interest Rates),” by Sébastien Page, linkedin.com, March 7, 2024.Other“The Sahm Rule Recession Indicator Definition and How It's Calculated,” by Mallika Mitra, Investopedia.com, Aug. 5, 2024.
Managing Director, Co-Head of U.S. Private Capital, President of BlackRock–TPC Capital Corp. and Investment Committee Chairman for US Private Credit Rajneesh Vig, Managing Director, is Co-Head of BlackRock U.S. Private Capital within BlackRock's Private Debt platform and President and COO of BlackRock-TCP Capital Corp (NASDAQ: TCPC). Prior to joining BlackRock, Mr. Vig was a Managing Partner at Tennenbaum Capital Partners (TCP), where he was also Chairman of the Investment Committee and a member of the Management Committee. TCP with its more than $9 billion in committed capital was acquired by BlackRock in 2018. Prior to TCP, Mr. Vig held roles within Investment Banking, Debt Capital Markets, and the Structured Solutions Group at Deutsche Bank Securities from 1999 through 2006. He currently chairs Blackrock Private Credit's Investment Committee and serves on BlackRock's Private Debt Executive Committee. He is a member of the Credit Oversight Committee and serves on the Board of Directors of TCPC and Edmentum. He also serves on the Los Angeles Board of the Posse Foundation. Mr. Vig earned a B.A. in Economics from Connecticut College and an M.B.A from New York Universit
In this episode of our podcast, we talk with Fatigue Risk Management Committee (FRMC) Chair Captain Rob Bassett. Rob discusses actual fatigue events reported by FedEx pilots as well as...
In this episode of the Changing Higher Ed podcast, Dr. Drumm McNaughton talks with David Marchick, Dean of American University's Kogod School of Business, and Angela Virtu, Professorial Lecturer in IT & Analytics at American University's Kogod School of Business, about their rapid integration of artificial intelligence across the entire business curriculum in just six months. They discuss the urgency of AI in higher education, Kogod's implementation strategy, and valuable lessons for other institutions. Key Discussion Points The Urgency of AI in Higher Education: Recognition of AI's growing importance in the business world Need for AI literacy as an essential skill for future business leaders Kogod School of Business's Rapid AI Integration: Formation of a committee to develop an actionable plan within six weeks Comprehensive approach: integrating AI into every major, developing new courses, creating AI certificates, and implementing faculty training Strategic Steps for Rapid AI Implementation: Development of two types of AI-integrated courses: Artisan and SAGE Appointment of an AI Faculty Teaching Fellow to support the initiative Overcoming Challenges in AI Adoption: Balancing speed of implementation with quality and relevance Supporting faculty adaptation to new teaching methods and content Keeping pace with rapid AI developments Incorporating ethical considerations alongside technical skills Student-Centric Outcomes: Cross-disciplinary integration of AI across all business majors Practical applications of AI in various business disciplines Three Key Takeaways for Higher Education Leaders: Act Decisively: Quick action is crucial in the face of technological change. Embrace a Cross-Disciplinary Approach: Integrate AI across all majors to benefit all students. Invest in Faculty Development: Provide resources and training for successful AI integration. Looking Ahead: The Future of AI in Higher Education Plans for continued refinement and expansion of AI curriculum Hiring additional AI faculty and developing advanced AI courses Expanding industry partnerships and exploring cross-pollination opportunities Read the transcript and extended show summary on our website at: https://changinghighered.com/ai-integration-in-higher-ed-curriculums-how-kogod-did-it-in-six-months/ #HigherEducation #AICurriculum #AIEducation About Our Podcast Guests David Marchick is the Dean of the Kogod School of Business at American University, supporting over 2,000 students in over two dozen programs. He leads the committee for Kogod's AI curriculum overhaul, an initiative focused on integrating AI into every major to prepare students for the global marketplace. Previously, Marchick was COO of the U.S. Development Finance Corporation, overseeing investments to produce 2 billion COVID-19 vaccine doses for developing countries. He spent 12 years at the Carlyle Group, where he served on the firm's Management Committee. Angela Virtu is a Professorial Lecturer in IT & Analytics at American University's Kogod School of Business. She teaches courses on technology, data analytics, machine learning, and coding. She's also the AI Instruction Faculty Fellow, organizing training on AI developments for faculty and staff. Previously, she developed AI and ML solutions that combined theoretical advancements with practical, ethical applications for organizational integration and business impact. About the Host Dr. Drumm McNaughton is the founder, CEO, and Principal Consultant at The Change Leader, Inc. A highly sought-after higher education consultant with 20+ years of experience, Dr. McNaughton works with leadership, management, and boards of both U.S. and international institutions. His expertise spans key areas, including accreditation, governance, strategic planning, presidential onboarding, mergers, acquisitions, and strategic alliances. Dr. McNaughton's approach combines a holistic methodology with a deep understanding of the contemporary and evolving challenges facing higher education institutions worldwide to ensure his clients succeed in their mission.
Owen Thomas is the Chairman and CEO of BXP. He served as the first Chairman at Lehman from 2012 until 2013 when he joined BXP. Before Lehman, Mr. Thomas was with Morgan Stanley for 24 years serving in several different roles, business units, and locations, including Chief Executive Officer of Morgan Stanley Asia and Chairman of Mitsubishi UFJ Morgan Stanley Securities, while living in Hong Kong from 2008 until 2011. He also held the roles of President of Morgan Stanley Investment Management and head of Morgan Stanley Real Estate and served on Morgan Stanley's Management Committee from 2005 until 2011.Links:BXP - https://www.bxp.com/Owen on LinkedIn - https://www.linkedin.com/in/owen-thomas-4012a640/Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/Juniper Square - https://www.junipersquare.com/Topics:(00:00:00) - Intro(00:01:31) - Owen's background and career(00:24:00) - Where are we today in the office market?(00:29:52) - What do WFH/WFO policy talks look like with tenants?(00:37:05) - What makes something a “premiere” asset?(00:43:43) - What is your role in the economic health of a city?(00:48:01) - What's your involvement with affordable housing? (00:50:17) - What's your take on the overall health of the innovation sector as it rebounds?(00:53:39) - How do you think about sustainability in the office environment?
Today's episode is full of incredible career stories and deep market insights as we enter the second half of 2024. Michael Levy is the Chief Executive Officer of Crow Holdings where he is responsible for leading and overseeing the Company's overall business strategy and activities. The firm's operations include real estate investment management, real estate development, renewable and traditional energy exploration, and securities management. Before joining Crow Holdings in 2016, Michael had a longstanding career in real estate finance and investment management at Morgan Stanley. He was a member of the Firm's Management Committee and held a number of leadership positions including COO and Head of Distribution for the Investment Management Division, Head of Traditional Asset Management, COO and CFO for Real Estate Investment Management, and co-head for Real Estate Investment Banking. We discuss: Michael's career at Morgan Stanley during the DotCom crash and GFC The experience working for Crow Holdings Analyzing the state of the market, asset classes, and looking to the future of real estate We'd appreciate you filling out our audience survey, so we can continuously work on providing relevant content to our listeners. https://www.thefortpod.com/survey Links: Michael Levy on LinkedIn Crow Holdings Topics: (00:00:00) - Intro (00:03:10) - Days on Wall St. (00:05:47) - Experiences during the DotCom Crash and the GFC (00:21:02) - Advice for someone going into a restructuring (00:24:49) - The worst assets to be in during the GFC and Michael's time with Morgan Stanley (00:30:44) - Being a man of commerce (00:31:57) - Joining Crow Holdings (00:38:38) - Texas Vs. New York (00:42:25) - Crow Holdings business units & development structures (00:53:57) - Thoughts on the market (00:57:16) - 2008 vs. 2024 (00:59:20) - Interest rates (01:03:58) - Oil and Gas (01:06:05) - Office (01:14:10) - Data centers (01:17:51) - MF & Industrial (01:23:23) - Acquisitions (01:25:00) - Development challenges (01:27:10) - Capital markets (01:31:26) - What are you most proud of from your time with Crow? (01:33:50) - Solar (01:36:48) - Looking at the future of RE Support our Sponsors Better Pitch: https://bit.ly/42d9L0I Fort: https://bit.ly/FortCompanies Follow Fort on LinkedIn: https://www.linkedin.com/company/fort-companies/ Chris on Social Media: The Fort Podcast on Twitter/X: https://x.com/theFORTpodcast Instagram: https://www.instagram.com/thefortpodcast LinkedIn: https://bit.ly/45gIkFd Watch The Fort on YouTube: https://bit.ly/3oynxNX Visit our website: https://bit.ly/43SOvys Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO The FORT is produced by Johnny Podcasts
This week, we welcome Rob Kumer, CEO of KingSett Capital, to share his journey from Analyst to CEO, the evolution of KingSett Capital, and the strategic moves that have shaped the firm into a $17 billion private equity real estate powerhouse.Rob provides insights into the impact of global experiences on his career, the challenges and opportunities of zero-carbon buildings, and the future of office spaces amid market bifurcation and work-from-home trends.About Rob Kumer: Rob Kumer is the Chief Executive Officer of KingSett Capital.As the chair of KingSett's Investment Committee, Rob oversees new investment activities, shapes the project finance strategy, and steers the mortgage lending business. His leadership extends to chairing the Management Committee, where he ensures the ongoing implementation and oversight of the firm's business strategy.Rob's academic background includes a degree in Honours Business Administration from the Ivey Business School at Western University, where he also serves on the Advisory Board. Beyond his professional achievements, Rob is dedicated to community service as a director of the Sinai Health System Foundation in Toronto.In this episode, we discuss:(01:19) Rob shares his career path from growing up in Toronto to becoming KingSett Capital's CEO(03:12) His early career in real estate development and his tenure at RioCan(04:45) His decision to join KingSett Capital and John Love's influence on his career trajectory(11:50) KingSett Capital's growth and diverse investment strategies emphasizing successful capital raising(17:55) The creation of the urban infill fund and its strategy of acquiring key street corners in Toronto(23:44) KingSett's strategic decisions during the early months of the pandemic(29:47) Insights into the current state of commercial real estate and the impact of rising interest rates(30:34) Market bifurcation and the future of office spaces, with a focus on Toronto(33:12) The performance of AAA office buildings versus lower-tier properties(37:36) The continued evolution of office space design to meet changing needs(43:26) The challenges and value creation opportunities in achieving zero-carbon buildings(48:56) Rob's views on the proposed capital gains decisions in Canada and their potential investment impact(54:09) The importance of building relationships for success in both personal and professional lifeFast Favorites
Kenneth Meshoe was born in Pretoria and is the fourth of seven children. He completed his Matric Certificate in 1972. In 1975 he graduated from the University of the North with a Secondary Teachers Diploma. In 1976, he married Lydia and they have three children, Olga, Esther and Joshua. In 1983, Kenneth went to Shekinah Bible Institute in Kingsport, Tennessee in the US, where he did the first year of his Theological Diploma. He later returned to Kingsport in January 1987 to complete his 2nd year Diploma. In 1988, Kenneth and Lydia started a non-denominational, praying church in Vosloorus, Gauteng, called Hope of Glory Tabernacle that is involved in running a number of community projects in the area. The church strongly advocates the power of prayer and actively mobilises Christians to pray for the nation of South Africa. Kenneth and Lydia are both international speakers, who travel extensively, speaking at conferences in many parts of world. In December 1993, they started a political party based on biblical principles called the African Christian Democratic Party (ACDP), and Kenneth became it's first President and has remained thus to date. He also has also served as a Member of Parliament for the ACDP since 1994. In 2006, Kenneth completed a one-year programme in Economics and Public Finance with the Department of Economics at the University of South Africa. In 2008, Kenneth Meshoe completed his Advanced Diploma in Economic Policy (ADEP) with the University of the Western Cape. Notable Achievements Between 1994 and 1996, Kenneth was the only Evangelical Christian represented in the Constitutional Assembly's Management Committee. The Committee was made up of around six to eight Members of Parliament. The rest of its contingent (12 in all) were officials. The Committee was tasked with the organisation and management of the overall Constitution-making process. One of its major responsibilities was to ensure that the Constitutional Assembly worked according to an agreed schedule in order to meet its two-year target in which to complete the drafting of our new South African Constitution by 8 May 1996. This was achieved. During the Constitution-making process, the ANC had made it very clear that it wished to see South Africa declared a secular state, which aimed to separate Church and State. Kenneth Meshoe, however, championed a backlash against this, both in Theme Committee 1 (Character of the State) that dealt with this particular clause and by raising his concerns over the implications such a status with as many Christians who would listen. As a result, in 1995, a protest march under the banner of the “Christian Voice' was organised which saw Christians in their thousands march to Parliament against the proposed secular state clause as well as other concerning clauses in the draft Constitution, including the right to life and anti-discrimination clauses on the grounds of sexual orientation, all of which undermined our Biblical values. As a result, the Constitution today states that South Africa is a Constitutional Democracy, and churches can, to this day, fellowship in state-owned school classrooms and halls, civic centres and can still pitch a tent in which to meet or hold crusades on state-owned land. In addition, faith-based political parties are able to exist and work to defend their the values and principles of their faith in all levels of government and religious leaders are able to serve as Members of Parliament. Also notable is that South Africa is the only African country to have a Christian Party serving in its Parliament. “The ACDP would like to see a Constitution that is the supreme law of the land, a Constitution that protects not only the rights of individuals but also those of unborn children. The ACDP wishes to see a Constitution that will be legitimate, enduring and that upholds biblical, family and traditional values.” Rev KRJ Meshoe, MP - Constitutional Assembly, 24 January 1995. Kenneth and the ACDP continues to be a voice for Christians at Parliament and other levels of government where attacks on our faith often creep in. One such example is that of proposals made to remove Christian Holy Days such as Easter and Christmas as official public holidays, as had been done with Ascension Day. The overwhelming majority of South Africans claim to be Christian and such a move was unthinkable. Kenneth arranged protest marches aptly branded “Hands Off Christmas and Good Friday!” His call was then reiterated in the ACDP's submission which he handed over to the then Minister of Home Affairs, Ms Naledi Pandor. Through continued awareness campaigns and protests, sufficient pressure was placed on government to ensure the matter went no further. In 2012, Kenneth organised a protest march in defence of Israel after the Minister of Trade and Industry, Dr Rob Davies, gazetted General Notice 370 or 2012 that required Israel to label its products as originating from “Occupied Palestinian Territories”. In June 2013, Kenneth established a non-profit organisation called DEISI International, with a mandate to challenge the ignorance of many about the true facts regarding the right of Israel to exist within safe and secure borders, and to dispel the lie that Israel is an apartheid state. DEISI is an acronym for Defend, Embrace, Invest, Support Israel. In 2020, after South Africans were placed under a severe, prolonged lockdowns and had many of their Constitutional freedoms undermined as a result of the Covid-19 pandemic, Kenneth was extremely concerned, particularly given its potential threat to our economy and job security. He was also outraged that churches were not allowed to meet in person, except under excessively strict regulations, and that mandatory vaccination was being introduced by some universities and businesses. Kenneth was at the forefront of fighting for our right to ‘choose' whether or not to be vaccinated. He did not want to see anyone being forced to do so, as “even God gives us the choice of whether or not to choose salvation,” he said. Through the ACDP, he was able to be a voice for workers who had been given an ultimatum by their employers to ‘get vaccinated or lose your job'. He encouraged them to stand their ground and not be pressurised into violating the dictates of their consciences. Some lost their jobs as a result but Kenneth remained resolute and ensured that the ACDP fought for them at the CCMA, a fight that saw a number of these unfair dismissals rightly overturned. Kenneth led also a similar campaign at various universities that were refusing access to students who chose not to be vaccinated. Awards On the 18th December 1994, Kenneth Meshoe was awarded an Honorary Doctorate (Doctor of Humane Letters, abbreviated L.H.D.), by Bethel Christian College in Riverside, California, USA, and was also appointed to serve as an Associate Member on the Board of Regents of Bethel College. In 1998, Kenneth was awarded the ‘International Leadership Award' for outstanding leadership in the church and nation by the Australian Federation of Festival of Light Community Standards Organisation at the New South Wales Parliament House. He was awarded a second Honorary Doctorate (L.H.D.) in 2007 by Logos Graduate School, Jacksonville, Florida, USA. In November 2013, the international organisation, Stand With Us, in Michigan, USA, presented Kenneth Meshoe with the ‘Star of David' award. In 2014, Kenneth was honoured with the ‘Jerusalem Award 2014' conferred on him by the World Zionist Organisation. In September 2015, Israel Today Nigeria, in conjunction with the Embassy of Israel in Abuja, gave Kenneth the “Jerusalem Ambassador” award. On this episode of The One Way Ticket Show, Reverend Meshoe (affectionately known as The Rev) shares his one way ticket to a peaceful and prosperous South Africa that is a very close friend of Israel. Given South Africa's national and provincial elections on May 29th, 2024, The Rev provides an assessment of South Africa today, and weighs in on the country's poorly performing economy, high employment and crime and regular power cuts. He shares why people are looking for answers outside of the ANC which has ruled South Africa since the end of apartheid in 1994. He also highlights how South Africa can learn from Israel's water management, science and technological advancements and economic development to create a successful South Africa. Moreover, he shares why it's factually incorrect to call Israel an apartheid state and how those that do, trivialise the pain and suffering South Africans experienced during those dark years. And when asked what Nelson Mandela would make of South Africa today, The Rev responded: “A heart break which might lead to a heart attack. He would faint.”
Jared Cohen is Co-Head of the Office of Applied Innovation and President of Global Affairs at Goldman Sachs. He also serves on the Management Committee of the firm. Jared is also the most senior Goldman executive to visit Israel since October 7. But Jared did not just visit Israel – and meet with a range of senior Israeli political leaders and security officials – he also was in Ramallah, in the West Bank to meet Palestinian Authority officials and Jordan – just before Jordan participated in the extraordinary multi-national defense of Israel, despite tense relations between the Israeli and Jordanian governments. And since then, Jared has traveled extensively throughout the Persian Gulf States, where he has a long history of deep relationships. It was interesting to get a fresh take from Jared on this region in transition. Prior to joining Goldman, Jared was an executive at Alphabet, before which he was Google's first Director of Ideas and Chief Advisor to Google's then CEO and Executive Chairman Eric Schmidt. From 2006 to 2010, he served as a member of the Secretary of State's Policy Planning Staff and as a close advisor to both Condoleezza Rice and Hillary Clinton. Jared is a New York Times bestselling author of six books, including "One Hundred Days of Silence: America and the Rwanda Genocide," "Children of Jihad," "The New Digital Age: Transforming Nations, Business, and our Lives," which he co-authored with Eric Schmidt, and, most recently, "Life After Power: Seven Presidents and their Search for Purpose Beyond the White House," which you can order here: https://tinyurl.com/5xm8v7ft OR https://tinyurl.com/2ua6mzjd Paper discussed in this episode: "The rise of geopolitical swing states" -- https://www.goldmansachs.com/intelligence/pages/the-rise-of-geopolitical-swing-states.html
In this episode, we speak with Nader Naini, Managing Partner of Frazier Healthcare Partners. Nader joined the firm in 1991 and has served on Frazier's Management Committee, Investment Committee, and led its Growth Buyout practice since 1995. Under his leadership, the Growth Buyout team has scaled from an initial team of four to over sixty and raised over $5 billion AUM from institutional limited partners globally. During his over three-decade tenure with the firm, he has been responsible for and served on the Boards of numerous successful investments including Aspen Education Group, CHG Healthcare, Priority Solutions International, Bravo Health, Laboratory Supply Company, Pentec Health, Solis Mammography, DSI Renal, Northfield Medical, and United Digestive. He currently serves on the Boards of Elevate Patient Financial Solutions, Accuity Delivery Systems, and Effective School Solutions. I am your host RJ Lumba. We hope you enjoy the show. If you like the episode, click to follow.
In this episode of Legally Bond, Kim speaks with Bond labor and employment attorney Erin Torcello. Erin talks about the cyclical nature of labor and employment law and her leadership roles at the firm including becoming a part of Bond's Management Committee this year.
One's an office occupier—Orrick's Laura Saklad—and the other's an office investor—CBRE Investment Management's Julie Ingersoll. From opposite sides of the table, they discuss how property investors and occupiers can work together to facilitate return-to-office strategies and make the workplace a magnet for talent attraction and retention.Insights to Share:· Successful office occupancy strategies are about balancing employee flexibility with collaboration and professional development opportunities.· The surrounding neighborhood is an important amenity for office space.· The pandemic has brought landlords and tenants closer together, changing the relationship from adversarial to a partnership.Laura SakladChief Operations OfficerOrrickLaura is responsible for leading and directing all operational functions of Orrick, a law firm with more than 25 global offices. She works closely with the Orrick's Board and Management Committee to execute the firm's strategy. Julie IngersollChief Investment OfficerAmericas Direct Real Estate StrategiesCBRE Investment ManagementJulie joined the firm in October 2021 from CPP Investments, an approximately $500 billion Canadian Pension Plan, where she was Managing Director overseeing portfolio strategy design and execution for 50 million square feet of U.S. residential and retail investments. At CPP, Julie focused on core-plus, value-add and development risk profiles, leading efforts across the investment lifecycle from identifying new strategies, originating and structuring joint ventures, acquisitions, asset management and dispositions.
In this episode of our podcast, we talk with Fatigue Risk Management Committee Chair Captain Rob Bassett. Rob discusses the roles and responsibility of his committee and the tools available...
Check out episode 7 of the Alternative Allocations podcast series, focusing on evaluating and allocating alternatives with my guest Jackie Klaber. Jackie and I discuss a range of topics including communicating to clients, the role and use of alternatives, product evolution, and allocating to alternatives in today's market environment. Jackie C. Klaber is a Managing Director and Head of Alternative Investments at Rockefeller Capital Management. She is a member of the firm's Management Committee and Chair of the Manager Approval Committee. Jackie is responsible for sourcing and structuring differentiated alternative investment opportunities for the firm's clients. Jackie previously worked at Goldman Sachs & Co. in the Alternative Investments & Manager Selection division, where she was responsible for sourcing and diligencing a range of alternative investments over time, including in hedge funds, private equity, and credit. Jackie also served as a Business Unit Manager and as a Member of the Data Science Committee. From 2012-2014, Jackie worked at Citigroup with the management team of the Investment Banking division. Prior to these roles, she graduated from Yale Law School / Yale School of Management, where she completed a J.D./M.B.A. and served as an editor of The Yale Law Journal. She has experience at the U.S. Department of the Treasury, Covington & Burling LLP, and the Yale Investments Office. Jackie received a bachelor's degree from Yale College and a master's degree from Columbia University. She is a member of the New York State Bar Association and the Brookings Council as well as a Term Member at the Council on Foreign Relations. She serves on the Board of the Yale Law School Fund and of the Seedlings Foundation. Rockefeller Capital Management Jackie (Carter) Klaber | LinkedIn Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn
In this episode of Legally Bond, Kim speaks with Bond's Management Committee Chair and litigation attorney Brian Butler. Brian talks about what his new firm role entails and provides a look into the year ahead at Bond.
In Legally Bond's first episode of 2024, Kim speaks with Bond environmental and energy attorney Kevin Bernstein. Kevin talks about his tenure as Chair of Bond's Management Committee, the nuances of energy law and what he is most looking forward to as he returns to his practice full-time.
Today's topic is CRE, and that is on a lot of people's minds right now we're joined by two and I'm happy to say Chicago-based experts in the field. Doug Lyons, managing principal of Pearlmark, responsible for the firm's capital markets and debt investment activities. And we're joined by Steve Quazzo, co-founder, CEO, and chair of the firm's Management Committee, and the PEP II Investment Committee.
Jessica Fairchild is a Partner at Croke Fairchild Duarte & Beres, a certified women's business enterprise counseling clients ranging from startups to Fortune 500 companies. As a lawyer, law firm leader, women's advocate, and entrepreneur, she serves as Co-chair of the firm's Management Committee. Over her 23-year legal career, Jessica has served as a mergers and acquisitions attorney, counseling founders, private equity sponsors, family enterprises, and corporations on both the buyer and seller sides. She also has experience with general counsel law and corporate governance, securities, joint ventures, and negotiating sponsorship transactions and key commercial agreements. Before founding Croke Fairchild, Jessica founded and managed several additional law firms and served as General Counsel for Chicago 2016, the non-profit and civic organization that led Chicago's bid for the 2016 Olympic and Paralympic games. Her flexible and entrepreneurial approach to acting as a legal and business advisor has allowed her to facilitate explosive growth for diverse organizations. In this episode… Many lawyers don't have an entrepreneurial background and may struggle to grow their firms effectively. These professionals either don't know how to execute a strategy or lose top talent when trying to maintain culture at scale. How can you build a durable and impactful law firm? After serving as general counsel for Chicago's 2016 Olympic bid, the city lost the competition, prompting business-minded attorney Jessica Fairchild to explore additional opportunities. Her passion for entrepreneurship and desire for flexibility allowed her to launch and scale a firm that values professional growth. One of the most vital aspects of firm success is building an attractive and valuable culture. This involves providing attorneys with the flexibility to pursue their passions and allowing each team member to share ideas and voice their concerns directly to management, creating a unified environment. On this episode of The Lawyer's Edge Podcast, Jessica Fairchild, a Partner at Croke Fairchild Duarte & Beres, joins Elise Holtzman to talk about growing a law firm through flexibility and entrepreneurship. Jessica shares her transition from BigLaw to founding a midsize law firm, the common mistakes of scaling a firm, and how to include your entire team in your culture.
One's an office occupier—Orrick's Laura Saklad—and the other's an office investor—CBRE Investment Management's Julie Ingersoll. From opposite sides of the table, they discuss how property investors and occupiers can work together to facilitate return-to-office strategies and make the workplace a magnet for talent attraction and retention.Insights to Share:· Successful office occupancy strategies are about balancing employee flexibility with collaboration and professional development opportunities.· The surrounding neighborhood is an important amenity for office space.· The pandemic has brought landlords and tenants closer together, changing the relationship from adversarial to a partnership.Laura SakladChief Operations OfficerOrrickLaura is responsible for leading and directing all operational functions of Orrick, a law firm with more than 25 global offices. She works closely with the Orrick's Board and Management Committee to execute the firm's strategy. Julie IngersollChief Investment OfficerAmericas Direct Real Estate StrategiesCBRE Investment ManagementJulie joined the firm in October 2021 from CPP Investments, an approximately $500 billion Canadian Pension Plan, where she was Managing Director overseeing portfolio strategy design and execution for 50 million square feet of U.S. residential and retail investments. At CPP, Julie focused on core-plus, value-add and development risk profiles, leading efforts across the investment lifecycle from identifying new strategies, originating and structuring joint ventures, acquisitions, asset management and dispositions.
Courtney Leimkuhler is the co-founder and managing partner of Springbank Collective, an early-stage investment firm focused on building the infrastructure to close the gender gap. By investing in companies creating the tools, technology, and services that support women and working families, Springbank's goal is to catalyze the new care economy and the future of inclusive work. Before founding Springbank, Courtney was the Chief Financial Officer of Marsh, the world's leading corporate insurance broker with 35,000 employees in over 100 countries. Previously, Courtney spent a decade at the New York Stock Exchange from pre-IPO through the sale of the public company in 2013. She served as a member of the Management Committee and the Head of Corporate Strategy and M&A during a transformational period for the company and the global exchange industry. Courtney began her career at Goldman Sachs. Courtney serves as a board member or advisor to several fintech and insurtech companies, including New Front, Orchard, Coverwallet (sold to Aon in 2020), Betterment, and Asta Capital. Courtney is a graduate of Harvard College summa cum laude and Harvard Business School where she was a Baker Scholar. Courtney and her husband live in New York City with their two daughters. In this episode of Takin' Care of Lady Business®, Jennifer Justice speaks with Courtney Leimkuhler, a seasoned professional with a background in financial services began her career at Goldman Sachs, gaining valuable experience in electronic trading, fintech, and regulatory matters. However, she decided to take a year off to travel and reflect on her career goals, giving her a unique perspective on navigating career paths and taking risks. Courtney believes in letting go of the idea that there is a specific path or set of boxes to check off to achieve success. Instead, she emphasizes the importance of being prepared to make the best of whatever opportunities come along and being open to alternative ways of acquiring skills. Her experiences, from starting in a traditional role at Goldman Sachs to co-founding Spring Bank, a company focused on building better childcare and making paid leave universal, have taught her the value of embracing flexibility, seizing unexpected opportunities, and adaptability. Here is what to expect on this week's show: Learn the importance of trusting your instincts when making career decisions. Discover why you should be adaptable and willing to take calculated risks to achieve career growth. Why you should align your career decisions with societal challenges and find ways to make a positive difference. Understand how to critically evaluate advice and make decisions based on your unique circumstances. Quotes: “We have massive problems to solve. I'm talking about one of them. But we have some really big societal challenges that I'd love to see more smart people with experience, without experience, engineering, everyone working together." - Courtney Leimkuhler “My perception was like those practical and logistical supports were actually the main barrier and the way we worked was the problem." - Courtney Leimkuhler "I think just sort of letting go very early on of this idea that there is a path and there's a specific set of boxes you're trying to check off has proved to be very valuable to me over the rest of my career." - Courtney Leimkuhler “Nothing is objectively bad or good. It's sort of trying to understand what is the set of experiences that is leading to this piece of advice and do I think that those sets of experiences are actually relevant to me in this circumstance." - Courtney Leimkuhler This episode is sponsored by Medjet. Medjet is the top-rated air medical transport and crisis response membership for travelers. If you're hospitalized while traveling or your safety is threatened abroad, they get you home. Join Medjet before your next trip at Medjet.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
On today's episode, Clay chats with John Jennings about his new book - The Uncertainty Solution. John Jennings is President and Chief Strategist of St. Louis Trust & Family Office, which has $12 billion dollars in assets under management. He is also a member of the firm's Management Committee, on its Board of Directors, and also serves on the Investment, Risk Management, and Trust Committees. John works closely with client families, advising them in all areas of wealth management.IN THIS EPISODE YOU'LL LEARN:00:00 - Intro.01:38 - Why humans are hard-wired to avoid uncertainty.06:40 - Mental models we can use to invest more intelligently.10:08 - How humans tend to react when faced with uncertainty.16:56 - Why we are wired to quickly come to conclusions and tend to confuse correlation with causation.27:17 - How the improbable is much more probable than we might expect.32:13 - Why the economy is not directly correlated with the stock market.47:51 - Where investing falls on Michael Maubbousin's Skill vs Luck continuum.1:00:53 - How behavior biases like loss aversion and overconfidence affect our investment decisions.1:06:14 - How storytelling can trick us into making poor investment decisions.1:10:13 - What base rates are and understanding base rates can help us make more intelligent decisions.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESJohn's new book - The Uncertainty Solution.John's website.John's firm - St. Louis Trust & Family Office.Check out our newly released TIP Mastermind Community.Check out our recent episode covering the 2023 Berkshire Hathaway Shareholder Meeting or watch the video.Follow Clay on Twitter.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts. P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSHave peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves.Join over 5k investors in the data security revolution with Atakama.Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple.Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union.Apply for the Employee Retention Credit easily, no matter how busy you are, with Innovation Refunds.Invest your retirement savings in what YOU know and are passionate about with a Self-Directed IRA with New Direction Trust Company.Enjoy flexibility and support with free cancellation, payment options, and 24/7 service when booking travel experiences with Viator. Download the Viator app NOW and use code VIATOR10 for 10% off your first booking.Send, spend, and receive money around the world easily with Wise.Beat FOMO and move faster than the market with AlphaSense.Support our free podcast by supporting our sponsors.HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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