Podcast appearances and mentions of Michael F Price

Al Dunlap was not an ordinary man: he was a verb. Across the country, his name was a byword for rapid corporate turnarounds and ruthless efficiency; at least, that's what he claimed on the jacket cover of his book. Known for walking into boardroom meetings in ostentatious outfits and firing half the company, there was a time when Wall Street believed that "the Chainsaw" really could turn bad companies into good ones with sheer willpower. But Al was playing a dangerous game, and in the end he flew too close to the sun. Edited and thumbnail by Noah JOIN US ON PATREON FOR EARLY EPISODE RELEASES, BONUS CONTENT, AND MORE: www.patreon.com/desperateactsofcapitalism Sources: Securities and Exchange Commission v. Albert Dunlap et al., Civil Action No. 01-8437-CIV (Middlebrooks)(S.D. Fla.) https://www.sec.gov/litigation/litreleases/lr-17710 Mean Business by Al Dunlap https://archive.org/details/meanbusinesshowi00dunl_0 "Portfolio's Worst American CEOs of All Time" https://www.cnbc.com/2009/04/30/Portfolios-Worst-American-CEOs-of-All-Time.html?slide=16 "SEC Sues Sunbeam CFO Kersh, Dunlap, and Four Others" https://www.cfo.com/news/breaking-news-sec-sues-former-sunbeam-cfo-kersh-dunlap-and-four-others/683301/ Book review: "Rambo in pinstripes. Chainsaw: The Notorious Career of Al Dunlap in the Era of Profit-at-Any-Price" https://onlinelibrary.wiley.com/doi/epdf/10.1002/npr.4040190212?saml_referrer "Memo to Al Dunlap: You're Fired!" https://knowledge.wharton.upenn.edu/article/memo-to-al-dunlap-youre-fired/ "Al Dunlap Compared Himself to Springsteen, Then Came a Steep Fall" https://www.wsj.com/articles/albert-j-dunlap-cost-slashing-sunbeam-ceo-known-as-chainsaw-al-dies-at-age-81-11548611699 "Michael F. Price, a Pugnacious Value Investor, Has Died at Age 70" https://www.wsj.com/articles/michael-f-price-a-pugnacious-value-investor-has-died-at-age-70-11647621811

How can companies struggling with an employment landscape that is “opportunity long and talent short” attract future team members for the long haul? How can nurturing an emotional connection for your existing team to your company's values position your company to attain the best, right-fit employees? What are the differences between Millennials and Generation Z, coming out of colleges today, and how can understanding those differences give you an edge in your talent management strategy? Listen as our guest shares with us how developing an intellectual and emotional connection to our organizations will help attract and retain employees at all stages of their careers, and how valuing your existing team in ways that turn them into ambassadors willing to help recruit the employees you need will build a better future for all. Bio: Daniel Pullin is dean of Texas Christian University's Neeley School of Business, and former dean of the Michael F. Price College of Business at the University of Oklahoma.  Prior to his career in higher education, Daniel worked at McKinsey & Company, a global consulting firm, Hicks Muse Tate & Furst, a leading private equity fund, and served as a vice president for Home Interiors & Gifts.  Daniel, a licensed attorney, has served on multiple boards and coalitions, and has won teaching awards several years in a row. Daniel earned undergraduate degrees in accounting and finance from the University of Oklahoma, an MBA from Harvard Business School, and a juris doctorate from the University of Oklahoma. He and his wife, Tamara, have two sons and live in Fort Worth, Texas. Bigger Than Business is the show where you'll discover real-world stories of business owners living their purpose. You'll encounter men and women all over the world who draw strength from understanding why they do what they do and how they remain true to that purpose through the ups and downs every business owner will face. www.thecapitalchartroom.com

Over the last few years, the opportunities for global value investing have improved significantly. Yields are incredibly low across the board, putting pressure on improving operational performance to generate returns. In such an environment, Europe is fertile ground for the value investor. With room for operational improvement in many sectors and a robust institutional environment, it’s an ideal market to deploy your activist dollar. When I decided to bring this topic to the show, I couldn’t think of anyone better than David Marcus to have a thorough conversation. David Marcus is Co-Founder, Chief Executive Officer, and Chief Investment Officer of Evermore Global Advisors, LLC, which he co-founded in 2009, and is also portfolio manager of the Evermore Global Value Fund. Beginning his career in 1988 at Mutual Series Fund, David was mentored by renowned value investor Michael Price and rose to manage the Mutual European Fund and co-manage the Mutual Shares and Mutual Discovery Funds, representing over $14 billion in assets. In 2000, he founded Marcstone Capital Management, LP, a long-short Europe-focused equity manager, largely funded by Swedish financier Jan Stenbeck. After Mr. Stenbeck passed away in 2002, David closed Marcstone, co-founded a family office for the Stenbeck family, and advised on the restructuring of several public and private companies the family controlled. David graduated from Northeastern University in 1988 with a B.S. in Business Administration and a concentration in Finance. On this episode, David and I discuss his structured approach to learning that he’s been committed to since starting his career, his comprehensive approach to investment analysis, why he believes there are huge opportunities in the European markets, how many people are taking the wrong approach when assessing investments in Europe, and so much more!   Key Topics: How David always knew investing would be in his future (3:51) David’s internship experience during the 1987 stock market crash (5:18) Getting a shot at a trading desk within a month of working with Michael F. Price (7:37) How David’s learned what makes a good analyst (9:24) Pivoting into European investing (11:11) Learning from the Swedish financial crisis of the early 90s (13:14) Looking beyond the CEO to the main shareholder (15:41) Leveraging your existing knowledge in new areas (16:45) When David became the head of Europe across portfolios at Franklin Mutual (19:46) David’s decision to start Marcstone Capital Management (23:36) Transitioning from stock picker to operator (26:32) Taking a private equity approach to public companies (29:43) The birth of Evermore Global Advisors (30:20) The advantage of being a generalist and a specialist (33:27) Why you must build your network (34:42) Deepening your operational understanding by engaging management (36:11) Mischaracterization of the European market (39:25) Game-changing opportunities in the European Union (EU) (41:19) What key areas David looks at in investments (42:53) The fundamental lack of knowledge about European institutions (45:37) Long-term thinking and European evolution (49:36) Understanding the local rules (51:58) Why you need to figure out peoples’ motivations (52:27) The opportunity behind deconglomeration in Europe (55:20) Good managers as an important competitive advantage (57:17) Taking advantage of room for operational improvement (59:10) Assessing the right time for the right people (1:01:04) The confluence of value and growth in Europe (1:02:22) Misconceptions about value and growth (1:05:33) Finding growth opportunities at value prices (1:06:39) Screening with numbers instead of words (1:07:55) The benefits of quarterly offsites (1:09:24) Getting clear on the reason behind investor activism (1:11:41) David’s approach to risk management (1:14:14) Why David’s view on leverage has changed (1:16:29) Checking and testing your thesis continuously (1:17:55) And much more!  Mentioned in this Episode: Evermore Global Advisors Value Investing with Legends Podcast | Leveraging Fundamentals to Remain Relevant with David Samra David Marcus’ Whitepaper | Europe: Lonely and Lumpy, Yet Extremely Compelling European Union Website Thanks for Listening! Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at valueinvesting@gsb.columbia.edu. Follow the Heilbrunn Center on social media on Instagram, LinkedIn, and more!

  Tisha Schuller switches roles and is interviewed by Mike Ming of Ming Energy Partners and Robert Hefner of Hefner Energy as part of the webcast series, “The Future of Energy” produced by the University of Oklahoma Energy Institute at the Michael F. Price College of Business. Just how does the oil and gas industry carve out its spot as the leader of the energy transition? How does the industry show that it is not just “your dad’s fuel?” In this episode, we explore: · The public’s climate tipping point · How oil and gas leaders must adjust their leadership strategy to meet the moment · How to find common ground with opposition and create a shared ambition · How to attract and retain young talent to the industry Tisha Schuller founded Adamantine Energy in 2015 to help oil and gas companies future-proof their businesses against rising social risk. She serves as the Strategic Advisor for Stanford University’s Natural Gas Initiative. Previously, she served as President & CEO of the Colorado Oil & Gas Association. Tisha serves on many academic and non-profit boards including the National Petroleum Council, an advisory board to the Secretary of Energy under both the Obama and Trump administrations. Tisha’s book, Accidentally Adamant was published in 2018. Tisha authors a bi-weekly series entitled Both of These Things Are True. Subscribe here for Tisha's weekly "Both Things Are True" email newsletter. Follow all things Adamantine Energy at www.energythinks.com. [Interview recorded on July 29, 2020]  

First, we realize that we don't know what words like dude, buddy, bro, chief, and man are called. (I looked it up after the show. They're called "colloquial vocatives"). Billionaires in the News this week: Robert F. Smith. Smith is a billionaire who makes his money by investing in enterprise software. He recently pledged to pay off all of the college debt of the Morehouse College's graduating class of 2019. That's great for them, but highly visible philanthropic gifts reinforce the idea that social problems can be meaningfully addressed informally by promoting a sense of noblesse oblige in the super wealthy. Joe makes the very good point that philanthropic giving is chaotic in the sense that it is guided by the whims and experiences of individual rich people. That's a bad way to try and fix social ills. Anyway, Smith is married to a Playboy bunny, opposes closing the carried-interest loophole, and describes his so-called philosophy as "an unusual amalgamation of laissez-faire survival of the fittest and a progressive desire to open up opportunities for the disadvantaged in the world." In many ways, then, he is a pretty typical billionaire. https://www8.gsb.columbia.edu/articles/columbia-business/private-equitys-philosopher Next, we talk about our most well-known billionaire thus far: Sumner Redstone, owner of National Amusements. National Amusements is the parent company of Viacom, CBS, and other media properties. Redstone thinks he's immortal and immune to all disease. Here's a link to the Larry King interview Joe was quoting from. It's a real treat. https://www.milkeninstitute.org/videos/view/a-conversation-with-sumner-redstone-if-you-could-live-forever-what-would-life-be-like?BackURL=%2Fvideos%2F Last, we discuss Michael F. Price, a mutual fund manager who was famous in the 80s for taking over companies and bringing in CEOs to fire everyone, raise the stock price, and create value for shareholders. His most famous exploit was when he hired "Chainsaw Al" Dunlap to run Sunbeam, a small electronics company.