Let’s face it. Most people find budgeting an unenjoyable activity. Many keep putting this task off until the next day, and end up never doing it. Are you that kind of person? If you are, Dayana Yochim of Fool.com has written a simple technique for the budgeting lazybones.
1. Know exactly how much you spend: To appreciate the virtue of saving, you must be personally aware of the excesses in your spending. List all your expenditures and categorize them. People who use cash can write down their expenditures on a day-to-day basis. Those who use credit or debit cards may get data from monthly bank statements. Input the data into a spreadsheet and be amazed.
2. Make your spending plan. After you get over the initial shock, you can start making your “spending plan.” The idea is to make a list of the most important purchases you need to make within the next three or six months. Include the physical purchases and financial plans you need to pay. This list will guide and direct your spending
3. Compute money to set aside. Single out the items on the list that will run you every month (ex. new tires), divide the total amount for that item with the number of months until you need them anew.
4. Put your savings on autopilot. To ward off surprise expenditures, hide your money from yourself. Open a separate savings account from the one you use for expenditures. You already computed how much money you need to put away monthly in
5. Instruct your bank to program recurring cash transfers from your main account to your separate savings account.
6. Discipline yourself. Use the “envelope method” to prevent mindless overspending. Compute the total weekly amount you need to spend on essentials. Categorize them and insert the allotted budget inside the envelope. This is the money you’re allowed to spend each week.
Monday, September 28, 2009
Friday, September 25, 2009
Vikram Pandit
Vikram Pandit is the CEO of Citigroup Inc., a New York-based American financial services company that holds the world's largest financial services network and controls over 200 million customer accounts in over 140 countries. As of 2008, the company became the world's largest bank by revenues.
Born to a well-to-do Maharashtrian family in Nagpur, India on January 14, 1957, Vikram Pandit seemed to have the world at his feet. After graduating from the Dadar Parsee Youths Assembly High School, Vikram Pandit flew to the United States to attend Gannon University.
Vikram Pandit chose to further his education at Columbia State University where he received his Bachelor's Degree in 1976 and his Master's Degree in 1977. In 1986, he received his PhD in Finance from the Columbia Business School.
Before his success at Citigroup Inc., Vikram Pandit worked as a professor at Indiana University Bloomington. It was not until 1990 that Pradit built his ties with Morgan Stanley, a diversified group of corporations, governments, financial institutions, and individuals. He became managing director and head of the US Equity Syndicate until 1994.
In 1994 he became head of head of Morgan Stanley's institutional securities division. At Morgan Stanley, Vikram Pandit was instrumental in the introduction of electronic trading as well as the creation of services that helped cater to hedge-funds. By 2005 he had served at the company as President of Institutional Securities, Chief Operating Officer of Institutional Securities, and Member of Management Committee. The Indian government gave him recognition with the Padma Bhushan award in 2008.
In 2007, Vikram Pandit joined Citigroup Inc. In December, the company appointed him as CEO. At present day he is the Head of Alternative Investments, Chief Executive Officer, and Member of Operating and Management Committee at Citigroup Alternative Investments. He is also the Chief Executive Officer of Citigroup Inc. Vikram Pandit is Co-Founder of Old Lane, LP.
Born to a well-to-do Maharashtrian family in Nagpur, India on January 14, 1957, Vikram Pandit seemed to have the world at his feet. After graduating from the Dadar Parsee Youths Assembly High School, Vikram Pandit flew to the United States to attend Gannon University.
Vikram Pandit chose to further his education at Columbia State University where he received his Bachelor's Degree in 1976 and his Master's Degree in 1977. In 1986, he received his PhD in Finance from the Columbia Business School.
Before his success at Citigroup Inc., Vikram Pandit worked as a professor at Indiana University Bloomington. It was not until 1990 that Pradit built his ties with Morgan Stanley, a diversified group of corporations, governments, financial institutions, and individuals. He became managing director and head of the US Equity Syndicate until 1994.
In 1994 he became head of head of Morgan Stanley's institutional securities division. At Morgan Stanley, Vikram Pandit was instrumental in the introduction of electronic trading as well as the creation of services that helped cater to hedge-funds. By 2005 he had served at the company as President of Institutional Securities, Chief Operating Officer of Institutional Securities, and Member of Management Committee. The Indian government gave him recognition with the Padma Bhushan award in 2008.
In 2007, Vikram Pandit joined Citigroup Inc. In December, the company appointed him as CEO. At present day he is the Head of Alternative Investments, Chief Executive Officer, and Member of Operating and Management Committee at Citigroup Alternative Investments. He is also the Chief Executive Officer of Citigroup Inc. Vikram Pandit is Co-Founder of Old Lane, LP.
Monday, September 21, 2009
Marc Lipschultz (KKR)
(This is my fifth article on the leaders of KKR. Be sure to check through my archives to find other KKR notables). -Stan
Being pioneers of the business, it is easy to assume that to replace Henry Kravis and George Roberts is something that the firm would rather not think about, especially now that the business is booming and opportunities seem to appear in every corner. KKR still looks ahead with gusto to the future with the two founders still at the helm of the ship.
But to give credit where credit is due, the two founding partners are not just resting on their laurels. Little by little, the two have taken steps in future-proofing their firm; in making sure that whenever they decide to give up the driver’s seat, they will be leaving the steering wheel at the hands of capable drivers. Many critics doubt that anyone can replace what the pioneers have done with regards to the business industry. But with these potential, one can see that they have at least a strong fighting chance to do so. One of the up and coming minds that play secondary captains to KKR’s ship is Marc Lipschultz.
Marc Lipschultz is one of the leaders of the energy industry group at KKR and was involved in all aspects of KKR's investment in International Transmission Holdings and the announced agreements to invest in UniSource Energy Corporation and Texas Genco. A graduate of Stanford University and the Harvard Business School, Marc Lipschultz also serves as member of the board of directors in companies like Amphenol Corporation and The Boyds Collection Limited. He also serves as a special advisor along with Henry Kravis for the company Accel KKR.
Dubbed as the rising star of KKR, Marc Lipschultz joined KKR 12 years ago, coming from Goldman Sachs. At 38, he has already been involved in many of the firm’s big company acquisitions like the $45 billion purchase of TXU, a Texas-based energy group.
Through hiring individuals with class like that of Marc Lipschultz, the doubts that the future of KKR after its founders have left will be forgotten in many of the critics’ minds.
Being pioneers of the business, it is easy to assume that to replace Henry Kravis and George Roberts is something that the firm would rather not think about, especially now that the business is booming and opportunities seem to appear in every corner. KKR still looks ahead with gusto to the future with the two founders still at the helm of the ship.
But to give credit where credit is due, the two founding partners are not just resting on their laurels. Little by little, the two have taken steps in future-proofing their firm; in making sure that whenever they decide to give up the driver’s seat, they will be leaving the steering wheel at the hands of capable drivers. Many critics doubt that anyone can replace what the pioneers have done with regards to the business industry. But with these potential, one can see that they have at least a strong fighting chance to do so. One of the up and coming minds that play secondary captains to KKR’s ship is Marc Lipschultz.
Marc Lipschultz is one of the leaders of the energy industry group at KKR and was involved in all aspects of KKR's investment in International Transmission Holdings and the announced agreements to invest in UniSource Energy Corporation and Texas Genco. A graduate of Stanford University and the Harvard Business School, Marc Lipschultz also serves as member of the board of directors in companies like Amphenol Corporation and The Boyds Collection Limited. He also serves as a special advisor along with Henry Kravis for the company Accel KKR.
Dubbed as the rising star of KKR, Marc Lipschultz joined KKR 12 years ago, coming from Goldman Sachs. At 38, he has already been involved in many of the firm’s big company acquisitions like the $45 billion purchase of TXU, a Texas-based energy group.
Through hiring individuals with class like that of Marc Lipschultz, the doubts that the future of KKR after its founders have left will be forgotten in many of the critics’ minds.
Thursday, September 17, 2009
George Roberts: Model Businessman
(This is my fourth article on my series of the people who run KKR. Check out my bios of Henry Kravis, Scott Nuttall, and Bill Janetscheck).
George Roberts is a revered businessman in the realm of financial industry. Heading the successful financial firm Kohlberg, Kravis, Roberts & Co (KKR) with Henry Kravis, he has obtained success through careful and efficient leadership. KKR has been involved in many of the last three decades’ biggest acquisitions, most notably that of RJR Nabisco in 1988. This aggressive yet effective leadership style characterizes George Roberts’ skills as a businessman. For more than three decades, this financial industry leader has influenced many of his colleagues with the way he carries himself and the firm.
George Roberts reveals that the firm’s culture depends on their reputation; that their word is their bond; and both are paramount to their success. These values upheld by George Roberts are reflected in the way their firm operates as a whole. KKR is responsible for many of the world’s largest and most complex private equity transactions worldwide. A reputation for integrity and fair dealing, the firm relies on this reputation to generate and add to their distinguished record of profitable and successful ventures.
Majority of his colleagues in the financial industry see George Roberts as a model businessman. Throughout his career, he has received accolades reflecting how excellently he works not only in his corporate job but also with activities beyond his business. He received his alma mater Culver Military Academy’s Man of the Year Award and has been consistently included in the Forbes List of Richest Americans, merits that are deservedly his to take. Guiding their protégés, both he and his cousin, Henry Kravis, are building up and ensuring the future of KKR. By being an example to the next generation KKR management, George Roberts will be able to retire knowing that he has maximized every opportunity that has come his way.
George Roberts is a revered businessman in the realm of financial industry. Heading the successful financial firm Kohlberg, Kravis, Roberts & Co (KKR) with Henry Kravis, he has obtained success through careful and efficient leadership. KKR has been involved in many of the last three decades’ biggest acquisitions, most notably that of RJR Nabisco in 1988. This aggressive yet effective leadership style characterizes George Roberts’ skills as a businessman. For more than three decades, this financial industry leader has influenced many of his colleagues with the way he carries himself and the firm.
George Roberts reveals that the firm’s culture depends on their reputation; that their word is their bond; and both are paramount to their success. These values upheld by George Roberts are reflected in the way their firm operates as a whole. KKR is responsible for many of the world’s largest and most complex private equity transactions worldwide. A reputation for integrity and fair dealing, the firm relies on this reputation to generate and add to their distinguished record of profitable and successful ventures.
Majority of his colleagues in the financial industry see George Roberts as a model businessman. Throughout his career, he has received accolades reflecting how excellently he works not only in his corporate job but also with activities beyond his business. He received his alma mater Culver Military Academy’s Man of the Year Award and has been consistently included in the Forbes List of Richest Americans, merits that are deservedly his to take. Guiding their protégés, both he and his cousin, Henry Kravis, are building up and ensuring the future of KKR. By being an example to the next generation KKR management, George Roberts will be able to retire knowing that he has maximized every opportunity that has come his way.
Wednesday, September 16, 2009
Bill Conway
Bill Conway is one of the three co-founders of The Carlyle Group, a Washington-based private equity investment firm that focuses on leveraged buyouts, growth capital, real estate, and leveraged finance investments. The company is one of the largest private equity firms in the world with nearly $50 billion under management.
Born William E. Conway Jr. in 1949 in McLean, VA, this business powerhouse led a pretty conservative life. His genius shone through early on as he received his undergraduate education at Dartmouth College and later on, his M.B.A. at the University of Chicago Graduate School of Business.
Bill Conway, who has 20 years of experience in the industry under his belt, always had an uncanny knack for business and finance. Before founding Carlyle with Dan A. D'Aniello and David M. Rubenstein, Bill Conway spent almost ten years with The First National Bank of Chicago. There he served an array of positions dealing with corporate finance, commercial lending, workout loans, and general management.
In 1981, after his time at The First National Bank of Chicago, Bill Conway served at MCI Communications, the second largest long-distance provider in the United States. At MCI, Bill Conway was instrumental in several of the company’s most significant acquisitions and divestitures. He served as a Vice President and Treasurer of MCI from 1981 to 1984. He then spent as three years the Senior Vice President and Chief Financial Officer.
In 1987, Bill Conway founded The Carlyle Group. The company continues to broaden its scope for potential investment opportunities. They also constantly improve their level of expertise in order to provide superior returns to investors. Presently, Bill Conway serves as Managing Director The Carlyle Group and chairman of Carlyle's investment committees.
Constant in his reserve, Bill Conway continues to support several local charities, especially those that support the causes of education and the Catholic Church.
Born William E. Conway Jr. in 1949 in McLean, VA, this business powerhouse led a pretty conservative life. His genius shone through early on as he received his undergraduate education at Dartmouth College and later on, his M.B.A. at the University of Chicago Graduate School of Business.
Bill Conway, who has 20 years of experience in the industry under his belt, always had an uncanny knack for business and finance. Before founding Carlyle with Dan A. D'Aniello and David M. Rubenstein, Bill Conway spent almost ten years with The First National Bank of Chicago. There he served an array of positions dealing with corporate finance, commercial lending, workout loans, and general management.
In 1981, after his time at The First National Bank of Chicago, Bill Conway served at MCI Communications, the second largest long-distance provider in the United States. At MCI, Bill Conway was instrumental in several of the company’s most significant acquisitions and divestitures. He served as a Vice President and Treasurer of MCI from 1981 to 1984. He then spent as three years the Senior Vice President and Chief Financial Officer.
In 1987, Bill Conway founded The Carlyle Group. The company continues to broaden its scope for potential investment opportunities. They also constantly improve their level of expertise in order to provide superior returns to investors. Presently, Bill Conway serves as Managing Director The Carlyle Group and chairman of Carlyle's investment committees.
Constant in his reserve, Bill Conway continues to support several local charities, especially those that support the causes of education and the Catholic Church.
Tuesday, September 15, 2009
Bill Janetschek
William J. Janetschek, better known as Bill, is the Chief Financial Officer of KKR & Co. L.P. (Kohlberg Kravis Roberts), one of the largest investment and merchant banking houses in the United States.
Bill Janetschek received his B.S. in Accounting from the College of Business Administration at St. John’s University, where he graduated cum laude in 1984.
Everyone who knew Janetschek in his early years agreed that he was destined for greatness. Right out of college, Bill set out for the fast-paced world of business and finance onboard the Tax Department at Deloitte and Touche LLP as a Staff Accountant. Shortly after that, he received his M.S. in Taxation from Pace University. He is a Certified Public Accountant.
Thirteen years after his introduction at Deloitte and Touche, and after being promoted to Tax Partner, Bill Janetschek left the company to join up with Kohlberg Kravis Roberts and Company.
Since Bill Janetschek joined KKR, the company has adapted deftly to the current economic condition. It holds over $60 billion in assets, management fees and profits from direct interests, adding to Bill’s already impressive portfolio. Due to its lineup of competent personnel, KKR & Co. L.P. has continually given clients superior returns through solid management, operational excellence, optimal capital structures, and a sound, long-term investment program in any situation regardless of fluctuations in equity markets, lending rates, or lending capacity.
Bill Janetschek was recently awarded the Alumni Outstanding Achievement Award of St. John’s University at the 28th Annual Alumni Convocation. He currently serves as a member of the President’s Dinner Committee and participates in the contribution of academic scholarships to exceptional students in the university.
I've recently profiled other KKR alumni, Henry Kravis and Scott Nuttal.
Bill Janetschek received his B.S. in Accounting from the College of Business Administration at St. John’s University, where he graduated cum laude in 1984.
Everyone who knew Janetschek in his early years agreed that he was destined for greatness. Right out of college, Bill set out for the fast-paced world of business and finance onboard the Tax Department at Deloitte and Touche LLP as a Staff Accountant. Shortly after that, he received his M.S. in Taxation from Pace University. He is a Certified Public Accountant.
Thirteen years after his introduction at Deloitte and Touche, and after being promoted to Tax Partner, Bill Janetschek left the company to join up with Kohlberg Kravis Roberts and Company.
Since Bill Janetschek joined KKR, the company has adapted deftly to the current economic condition. It holds over $60 billion in assets, management fees and profits from direct interests, adding to Bill’s already impressive portfolio. Due to its lineup of competent personnel, KKR & Co. L.P. has continually given clients superior returns through solid management, operational excellence, optimal capital structures, and a sound, long-term investment program in any situation regardless of fluctuations in equity markets, lending rates, or lending capacity.
Bill Janetschek was recently awarded the Alumni Outstanding Achievement Award of St. John’s University at the 28th Annual Alumni Convocation. He currently serves as a member of the President’s Dinner Committee and participates in the contribution of academic scholarships to exceptional students in the university.
I've recently profiled other KKR alumni, Henry Kravis and Scott Nuttal.
Monday, September 14, 2009
Stephen Feinberg
Stephen Feinberg is an authority in hedge-funds and private-equity arena. That is, if anybody can find him; the co-founder and CEO of Cerberus Capital Management, L.P. does all he can to remain invisible despite all the attention his success draws.
Cerberus Capital Management, L.P. is the company Stephen Feinberg founded in 1992 with William L. Richter. The 49-year old became a success story when he fathered one of the largest private equity investment firms in the United States with only $10 million.
You would think that little fact alone is enough for the press to be banging down his door in hopes of a picture. Stephen Feinberg does not see it that way. “If anyone at Cerebrus has his picture in the paper and a picture of his apartment, we will do more than fire that person. We will kill him. The jail sentence will be worth it,” Feinberg said at Manhattan’s Waldorf-Astoria in 2007. Though the Wall Street investors present responded with nervous laughter, the mysterious and guarded business powerhouse made his philosophy perfectly clear: reveal little as possible.
As the camera-shy head of Cerebrus continues to elude the press, the company continues to climb the ladder of success. On May 14, 2007 Cerebrus, along with 100 other investors, bought an 80% stake of Chrysler. Even as the firm made history, Feinberg was a no-show at the press conference saying, “we knew it would get an insane amount of press, and boy, we don’t like that.”
Nearly three decades after his years as a loner at New Jersey’s Princeton University, Feinberg has not abandoned his secretive style. His brilliance, success, and extremely private ways will always make him a target of the media. But until they catch him, Stephen Feinberg will continue to hide from plain sight.
Cerberus Capital Management, L.P. is the company Stephen Feinberg founded in 1992 with William L. Richter. The 49-year old became a success story when he fathered one of the largest private equity investment firms in the United States with only $10 million.
You would think that little fact alone is enough for the press to be banging down his door in hopes of a picture. Stephen Feinberg does not see it that way. “If anyone at Cerebrus has his picture in the paper and a picture of his apartment, we will do more than fire that person. We will kill him. The jail sentence will be worth it,” Feinberg said at Manhattan’s Waldorf-Astoria in 2007. Though the Wall Street investors present responded with nervous laughter, the mysterious and guarded business powerhouse made his philosophy perfectly clear: reveal little as possible.
As the camera-shy head of Cerebrus continues to elude the press, the company continues to climb the ladder of success. On May 14, 2007 Cerebrus, along with 100 other investors, bought an 80% stake of Chrysler. Even as the firm made history, Feinberg was a no-show at the press conference saying, “we knew it would get an insane amount of press, and boy, we don’t like that.”
Nearly three decades after his years as a loner at New Jersey’s Princeton University, Feinberg has not abandoned his secretive style. His brilliance, success, and extremely private ways will always make him a target of the media. But until they catch him, Stephen Feinberg will continue to hide from plain sight.
Thursday, September 10, 2009
Scott Nuttall of KKR
I've decided to run a series of profiles of the people who run the private equity firm KKR. Each of these investors has an extraoridnary story. I've talked about Henry Kravis. Today, I'll profile KKR Financial Holder Director Scott Nuttall.
Running a multi-billion dollar firm is not an easy task. To run it for as long as three decades requires hard work and a whole lot of business smarts. Kohlberg, Kravis, Roberts & Co is a company that has been running smoothly for over three decades now. Its founding partners have worked very hard since they started operations in 1976 to take the firm to where it is now. Pioneering the process of leverage buyouts, the KKR team has continually found success in every venture and company that they enter deals with.
The constant additions of young minds ensure the continuous success that the firm is experiencing. One of the top directors for the firm is Scott Nuttall. Fresh and still very young, Scott Nuttall is one of the leaders primed to take over the firm if ever the founders decide to step down from their respective posts.
Scott Nuttall is the one of the youngest members of KKR’s so-called “next generation”. He has been with the firm for 10 years already and first served as a member of the board of Willis, an insurance broker, while it was owned by KKR. Currently, his main task is as a member of the General Partner, Head of the Financial Services Industry Team of Kohlberg Kravis Roberts & Co. He also oversees the Global Capital and Asset Management Group and played a significant role in investments such as that of Alea Group Holdings, Amphenol, Walter Industries, and Willis Group. Aside from these, he is also affiliated with the firm’s funds, specifically the KKR Private Equity Investors and KKR Financial Holdings. Scott Nuttall also oversees the combined capital raising, distribution, and broker-dealer efforts for the firm. Likewise, he acts as the Secretary and Treasurer of KKR BDC Inc.
A graduate of the University of Pennsylvania, Scott Nuttall graduated with Summa Cum Laude honors.
Scott Nuttall and other brilliant young minds like him at KKR serves as an assurance that the future of the firm will continue to look bright.
Running a multi-billion dollar firm is not an easy task. To run it for as long as three decades requires hard work and a whole lot of business smarts. Kohlberg, Kravis, Roberts & Co is a company that has been running smoothly for over three decades now. Its founding partners have worked very hard since they started operations in 1976 to take the firm to where it is now. Pioneering the process of leverage buyouts, the KKR team has continually found success in every venture and company that they enter deals with.
The constant additions of young minds ensure the continuous success that the firm is experiencing. One of the top directors for the firm is Scott Nuttall. Fresh and still very young, Scott Nuttall is one of the leaders primed to take over the firm if ever the founders decide to step down from their respective posts.
Scott Nuttall is the one of the youngest members of KKR’s so-called “next generation”. He has been with the firm for 10 years already and first served as a member of the board of Willis, an insurance broker, while it was owned by KKR. Currently, his main task is as a member of the General Partner, Head of the Financial Services Industry Team of Kohlberg Kravis Roberts & Co. He also oversees the Global Capital and Asset Management Group and played a significant role in investments such as that of Alea Group Holdings, Amphenol, Walter Industries, and Willis Group. Aside from these, he is also affiliated with the firm’s funds, specifically the KKR Private Equity Investors and KKR Financial Holdings. Scott Nuttall also oversees the combined capital raising, distribution, and broker-dealer efforts for the firm. Likewise, he acts as the Secretary and Treasurer of KKR BDC Inc.
A graduate of the University of Pennsylvania, Scott Nuttall graduated with Summa Cum Laude honors.
Scott Nuttall and other brilliant young minds like him at KKR serves as an assurance that the future of the firm will continue to look bright.
Investment Pointers for Every Age
While all people share and are governed by a similar economic and investment climate, age groups experience different economic situations, risks and opportunities. Thus, the young and old may vary in terms of financial focus and investment opportunity. Money Magazine’s Peter Freeman gives the following investment pointers for those in their 20s, 30s, 40s, 50s and 60s.
1. The 20s. People from this age group are rookies to the workforce and have just started to generate income. Moreover, they have semi-permanent relationships. The financial focus at this age is to save up for a deposit on a home or to pursue an investment that appeals to one’s lifestyle. Prior to building wealth, they must either control or erase credit card debt. They may also consider investing in equity funds to build deposit.
2. The 30s. At this age, people have either settled down, have children, or bought a home. The main concern is how to secure renovations, reduce mortgage, and acquire or upgrade to a better property. Main threats to this age are downsizing and inflation, so taking out income insurance and saving up for emergencies are recommended. Those who are still single may pursue aggressive investments (geared share funds, portfolio or direct share investments) with extreme care.
3. The 40s: Financial stability during the 40s depends on how well you managed your money during the past decade. As the kids are grown up and education becomes more expensive, budgeting is of extreme importance at this age. High income folks may expand their investment portfolio.
4. The 50s: Establishing your own business is advantageous at this age. Children are married and enjoy financial independence, ergo, reduced expenses. Higher salaries are also enjoyed.
5. The 60s and later: The main focus at this age is how to maximize one’s savings in order to continue generating post retirement income. People usually build investments around allocating or complying pension in order to maximize tax and social security.
1. The 20s. People from this age group are rookies to the workforce and have just started to generate income. Moreover, they have semi-permanent relationships. The financial focus at this age is to save up for a deposit on a home or to pursue an investment that appeals to one’s lifestyle. Prior to building wealth, they must either control or erase credit card debt. They may also consider investing in equity funds to build deposit.
2. The 30s. At this age, people have either settled down, have children, or bought a home. The main concern is how to secure renovations, reduce mortgage, and acquire or upgrade to a better property. Main threats to this age are downsizing and inflation, so taking out income insurance and saving up for emergencies are recommended. Those who are still single may pursue aggressive investments (geared share funds, portfolio or direct share investments) with extreme care.
3. The 40s: Financial stability during the 40s depends on how well you managed your money during the past decade. As the kids are grown up and education becomes more expensive, budgeting is of extreme importance at this age. High income folks may expand their investment portfolio.
4. The 50s: Establishing your own business is advantageous at this age. Children are married and enjoy financial independence, ergo, reduced expenses. Higher salaries are also enjoyed.
5. The 60s and later: The main focus at this age is how to maximize one’s savings in order to continue generating post retirement income. People usually build investments around allocating or complying pension in order to maximize tax and social security.
Tuesday, September 8, 2009
Saving Money and Mother Earth in Ten Easy Ways
Feeling helpless against the recession and climate change? No need to be. One can perform simple lifestyle changes that will not only battle climate change but expand your personal savings as well. Patti Prairie, CEO of Brighter Planet, suggests 10 doable steps that will save you a whopping $2500 and a total CO2 emissions reduction of 19,419 lbs. a year.
1. Reduce, reuse, recycle: Buy less or reuse items. When you do buy something, go for bargains or discounts. Do trade-ins for non-essentials, or donate them to charity or thrift shops. Save $564 (2902 lbs).
2. Drive with efficiency: You can extend the life of your car and reduce CO2 emissions by driving smoothly, keeping your tires inflated always, reducing idling, and driving below 55 mph. Save $385 (2882 lbs).
3. Reduce air travel: Land travel is the way to go. If flying is inevitable, choose daytime, economy class, and direct, non-stop flights to trim your emissions. Replace air travel with Web, phone or video conferencing once a year. Save $347 (2492 lbs).
4. Laundry changes: Cut your wash-and-dry laundry load by half. Just wash the other half with cold water and hang to dry. Save $287 (322 lbs).
5. Eat less meat: Cut your carnivorous intake to just 3 times a week. Save $285 (1107 lbs).
6. Commute: Twice a week, you can commute, take public transportation, or carpool. Save $276 (1177 lbs).
7. Save water: Switch to inexpensive shorter showers or use low-flow shower heads to conserve water. Save $194 (2123 lbs).
8. Light up: Change your lighting with compact fluorescent bulbs to conserve energy. Save $188 (1429 lbs).
9. Heating and cooling: Install a programmable thermostat for heating/cooling efficiency. Save up to $131 (1413 lbs).
10. Power use: To conserve power and lengthen the life of your appliances, make use of power strips, power management settings on your PC, and unplug charges. Save $64 (743 lbs).
1. Reduce, reuse, recycle: Buy less or reuse items. When you do buy something, go for bargains or discounts. Do trade-ins for non-essentials, or donate them to charity or thrift shops. Save $564 (2902 lbs).
2. Drive with efficiency: You can extend the life of your car and reduce CO2 emissions by driving smoothly, keeping your tires inflated always, reducing idling, and driving below 55 mph. Save $385 (2882 lbs).
3. Reduce air travel: Land travel is the way to go. If flying is inevitable, choose daytime, economy class, and direct, non-stop flights to trim your emissions. Replace air travel with Web, phone or video conferencing once a year. Save $347 (2492 lbs).
4. Laundry changes: Cut your wash-and-dry laundry load by half. Just wash the other half with cold water and hang to dry. Save $287 (322 lbs).
5. Eat less meat: Cut your carnivorous intake to just 3 times a week. Save $285 (1107 lbs).
6. Commute: Twice a week, you can commute, take public transportation, or carpool. Save $276 (1177 lbs).
7. Save water: Switch to inexpensive shorter showers or use low-flow shower heads to conserve water. Save $194 (2123 lbs).
8. Light up: Change your lighting with compact fluorescent bulbs to conserve energy. Save $188 (1429 lbs).
9. Heating and cooling: Install a programmable thermostat for heating/cooling efficiency. Save up to $131 (1413 lbs).
10. Power use: To conserve power and lengthen the life of your appliances, make use of power strips, power management settings on your PC, and unplug charges. Save $64 (743 lbs).
Friday, September 4, 2009
Kevin Landry
Kevin Landry is CEO of TA Associates, one of the oldest and most significant private equity firms in the world. The firm focuses its attention on making investments in private companies and helping them build their businesses.
Kevin Landry did not start out as the success he is today. At one point, he was just a 16-year old boy who literally had his head in the clouds. On his father’s Cessna airplane, you could say that Kevin Landry really had nowhere to go but up. After a short stint in the army, he was hired fresh out of the University of Pennsylvania’s Wharton School of Finance by TA Associates founder Peter Brooke in 1968. He often talks of it as his only white-collar job.
Over the many years in business, TA Associates’ strategy has evolved and Kevin Landry has been onboard every step of the way. It became clear right away that with his down-to-earth character, coupled with his preference for informality, that he would go places even with his feet planted firmly on the ground.
Under his leadership, TA Associates has adapted a more conservative approach that is better suited to the aggressive industry of today. Landry takes it upon himself to make sure that the company does not get caught up in the hubbub.
TA Associates, which holds $10 billion in assets under management, stands out from other private equity firms because of their thorough investment practice. While other private equity firms acquire more than 50% in debts on a regular basis, TA Associates’ does not go up to more than 30%.
Kevin Landry was also on the board of directors of several companies like Ameritrade Holding Corporation, Biogen, Alex Brown Incorporated, Continental Cablevision, Keystone Group, Standex International Corporation, Instinet Group, the National Venture Capital Association, and SBA Communications.
Kevin Landry did not start out as the success he is today. At one point, he was just a 16-year old boy who literally had his head in the clouds. On his father’s Cessna airplane, you could say that Kevin Landry really had nowhere to go but up. After a short stint in the army, he was hired fresh out of the University of Pennsylvania’s Wharton School of Finance by TA Associates founder Peter Brooke in 1968. He often talks of it as his only white-collar job.
Over the many years in business, TA Associates’ strategy has evolved and Kevin Landry has been onboard every step of the way. It became clear right away that with his down-to-earth character, coupled with his preference for informality, that he would go places even with his feet planted firmly on the ground.
Under his leadership, TA Associates has adapted a more conservative approach that is better suited to the aggressive industry of today. Landry takes it upon himself to make sure that the company does not get caught up in the hubbub.
TA Associates, which holds $10 billion in assets under management, stands out from other private equity firms because of their thorough investment practice. While other private equity firms acquire more than 50% in debts on a regular basis, TA Associates’ does not go up to more than 30%.
Kevin Landry was also on the board of directors of several companies like Ameritrade Holding Corporation, Biogen, Alex Brown Incorporated, Continental Cablevision, Keystone Group, Standex International Corporation, Instinet Group, the National Venture Capital Association, and SBA Communications.
Thursday, September 3, 2009
Five Tips for Picking an Investment Partner
If you have succeeded in forming a company without external financing, there is great likelihood that you will attract private equity investors. When the time has come to consider an investment partner, selecting who to choose will be a major decision. Here are five tips to ensure you pick the best investment partner:
1. Know your needs. It is important to determine exactly why you are raising capital. Is it for personal liquidity, growth equity, a management buyout, or a combination of all three? Before making the big decision to gather outside financing, understand what business opportunity confronts you. Only then can you determine the type of capital required and the right investor.
2. Evaluate each firm's track record. Choosing the right firm requires diligence. If you must, evaluate data on each firm, such as size, stability, capital resources, and track record. Be aware of the firm’s success history and level of experience with businesses related to your own. Assess the firm’s capacity to deliver returns for both investor and business owner.
3. Make sure the culture fits. Find a private equity firm you can work hand-in-hand with. Conducting interviews with CEOs of the firm’s portfolio companies can give you a feel of what working with a particular firm would be like. Narrow down your choices to firms who can provide capital and keep your management team in control of decisions.
4. The value of personal trust. Chemistry is a must when assessing a potential investment partner. Among the questions you can ask are: Does the firm operate with honesty and integrity? Do we share common ethics? Do we like them as people?
5. Look for stability. Stability helps raise follow-up capital as well as provides potential for growth. Monitor retention of personnel as well as investors. Determine if there is a succession plan crafted for smooth transition of the firm to the next owners.
1. Know your needs. It is important to determine exactly why you are raising capital. Is it for personal liquidity, growth equity, a management buyout, or a combination of all three? Before making the big decision to gather outside financing, understand what business opportunity confronts you. Only then can you determine the type of capital required and the right investor.
2. Evaluate each firm's track record. Choosing the right firm requires diligence. If you must, evaluate data on each firm, such as size, stability, capital resources, and track record. Be aware of the firm’s success history and level of experience with businesses related to your own. Assess the firm’s capacity to deliver returns for both investor and business owner.
3. Make sure the culture fits. Find a private equity firm you can work hand-in-hand with. Conducting interviews with CEOs of the firm’s portfolio companies can give you a feel of what working with a particular firm would be like. Narrow down your choices to firms who can provide capital and keep your management team in control of decisions.
4. The value of personal trust. Chemistry is a must when assessing a potential investment partner. Among the questions you can ask are: Does the firm operate with honesty and integrity? Do we share common ethics? Do we like them as people?
5. Look for stability. Stability helps raise follow-up capital as well as provides potential for growth. Monitor retention of personnel as well as investors. Determine if there is a succession plan crafted for smooth transition of the firm to the next owners.
Tuesday, September 1, 2009
Kevin Griffin: A Career in Success
You could say that Fennebresque & Co. founder and Managing Director Kevin Griffin has been around the block in the world of investment banking and corporate finance. The rise of the company is the latest notch on his belt of experience. Having marked more than 12 years in the industry, with seven dedicated exclusively to the middle market, Griffin is the embodiment of genius and hard work, proving that even in this competitive world, small steps still count.
Kevin Griffin’s brilliance sets him apart even as he received his education. In 1999, he received a Master of Business Administration degree from the University of Chicago Graduate School of Business where he graduated with honors. Prior to that, he studied at The University of North Carolina at Chapel Hill where he received a Bachelor of Science degree in Business Administration.
Before the emergence of Fennebresque & Co., Griffin served as a Partner and Vice President with McColl Partners, an investment bank that provides services to middle-market companies and financial institutions. AT McColl, he was responsible for creating and executing middle market Mergers and Acquisitions transactions.
Before his years with McColl Partners, Griffin worked in the M&A and corporate finance divisions of Lazard, JPMorgan, and Bank of America in New York, Chicago, and Charlotte. Even further back, Griffin began his career as an investment banking analyst with NationsBanc Capital Markets in Charlotte, where he concentrated on fixed income products for real estate.
At Fennebresque & Co., a company that provides middle market advisory services in order to aid clients in the evaluation and execution process of financial transactions, Griffin belongs to a team of senior-level investment banking professionals who are objective, creative, and committed to providing effective advice to clients.
Kevin Griffin is also connected with several professional and civic affiliations including the Association of Insolvency and Restructuring Advisors, the Charlotte Country Day School Alumni Council, the Charlotte Youth Basketball League, and the Myers Park United Methodist Church.
Kevin Griffin’s brilliance sets him apart even as he received his education. In 1999, he received a Master of Business Administration degree from the University of Chicago Graduate School of Business where he graduated with honors. Prior to that, he studied at The University of North Carolina at Chapel Hill where he received a Bachelor of Science degree in Business Administration.
Before the emergence of Fennebresque & Co., Griffin served as a Partner and Vice President with McColl Partners, an investment bank that provides services to middle-market companies and financial institutions. AT McColl, he was responsible for creating and executing middle market Mergers and Acquisitions transactions.
Before his years with McColl Partners, Griffin worked in the M&A and corporate finance divisions of Lazard, JPMorgan, and Bank of America in New York, Chicago, and Charlotte. Even further back, Griffin began his career as an investment banking analyst with NationsBanc Capital Markets in Charlotte, where he concentrated on fixed income products for real estate.
At Fennebresque & Co., a company that provides middle market advisory services in order to aid clients in the evaluation and execution process of financial transactions, Griffin belongs to a team of senior-level investment banking professionals who are objective, creative, and committed to providing effective advice to clients.
Kevin Griffin is also connected with several professional and civic affiliations including the Association of Insolvency and Restructuring Advisors, the Charlotte Country Day School Alumni Council, the Charlotte Youth Basketball League, and the Myers Park United Methodist Church.
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