According to the Wall Street Journal, Pete Stavros, an executive with KKR & Co., has spent much of his career promoting the idea of awarding stock to factory workers and other hourly employees. He believes stock ownership builds wealth for all employees and strengthens the culture. Stavros implemented his concept with a KKR company, called Gardner Denver. In a few ...
When I began my banking career, I spent time investigating bank frauds. One of the frauds I worked on was that of a bank president who determined his significant pay wasn’t enough. This president began producing false travel expense reports, claiming that he was driving to headquarters, four hours each way, multiple times a month. His spending habits, however, continued ...
When I was young, I found a sharp-looking Toyota Celica that had surprisingly low mileage for its years. After purchasing the car, I immediately began having trouble with the engine that didn’t make sense for such a low mileage car. When my mechanic grandfather inspected my car, he said, “Rick, you’ve been swindled. The odometer has been rolled back.” I ...
In one month’s time, Gamestop’s stock price went from $18 a share to over $340 at its peak. The price soared despite their revenue and profits being in decline. The stock price was driven up by a tribe of online small investors who decided to stand against the large hedge funds. Although Wall Street took notice, long-term, the true value ...
In my early 20’s, I often looked for short cuts to get rich. One day an acquaintance of mine shared with me a so called “business opportunity.” If I invested some money, I was going to get rich quick. This person’s enthusiasm and personal testimony of how much money he was making lured me in to foolishly investing. It ...
Years ago, I ran a consulting practice when a rapidly growing retail chain hired me to improve their cash flow and to resolve what the owner believed to be a “minor” tax problem. As I began asking for financial information, I began to understand the problem. Their bookkeeper had resigned, and they had ignored their bookkeeping for months. They had ...
With low interest rates and easy credit, many businesses have been piling on debt at a record pace. Any time you borrow money, however, you are presuming that you’ll have the ability to repay that debt. Your cash flow and collateral may be strong, giving you confidence in borrowing money. But what’s often overlooked is that only God knows the ...
In this series, we’re talking about principles for business planning. The fourth principle is this: “Diligently executing God’s plan is more profitable than hasty pursuits.” The TV program, “60 Minutes” did a feature on a company started by some political consultants to sell “personal protection equipment.” Although they had no experience in securing PPE, they had great political contacts. This ...
According to past studies, at least 30% of annual giving comes in the month of December. This year Giving Tuesday falls on December 1st, giving the final fundraising push for the year a good boost. One reason December is such a big month in giving is due to the generosity of small business owners. As they determine their profitability for ...
Anyone who has been in business for long knows that there are business cycles. There are bull markets and bear markets. There are seasons of prosperity and there are recessions. With over 10 years of prosperity, we recently ended the longest run of economic expansion. If there was ever a time to have been prepared for an economic famine, it ...
Equipping Others to Do Work Differently
