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GE Capital Aviation Services: A Fantastic Asset for General Electric

GE Capital Aviation Services: A Fantastic Asset for General Electric

Of the 12 firms that constituted the initial Dow Jones Industrial Average in 1896, General Electric Company (GE) is the only one yet on the list. For more than a century, it has been one of the most successful companies in the world, well-liked for its products, culture, and series of dedicated chief executives.

In 2015, GE assertively moved to wind down GE Capital, which was a considerable but volatile driver of earnings. After selling large portions of its financial business over the past few years, General Electric (GE) has finally shed the “too big to fail” designation. This is for the most part completed, and the residual specialty finance segments have understandable ties to the company’s principal industrial business, such as aircraft leasing. Investors should gain from a much smaller, better-capitalized GE Capital over the long run. Barclays analyst Scott Davis calls one remaining piece of GE Capital, GECAS, GE Capital Aviation Services, “a fantastic asset.” Barclays explains,

GECAS is a fantastic asset, making up more than half of the GE Capital verticals’ asset base and almost 3/4 of its profits/cash. Aircraft leasing is a lucrative and relatively stable business with favorable cyclical and secular market dynamics. The market is becoming an oligopoly with increasing concentration amongst a few key players, and GECAS is the clear leader. Large global players benefit from significant advantages, including large discounts to the latest next-gen aircraft and valuable relationships with top-tier airline customers. From a cyclical perspective, air traffic growth remains strong and lower oil has resulted in strong airline customer profitability. There are also secular tailwinds from a growing global middle class, as well as airlines increasingly choosing to lease their fleets.

'General Electric and the Pursuit of Profit' by Thomas F. O'Boyle (ISBN 0375705678) During the Jack Welch tenure, General Electric benefited from the evolution of financial services in the American economy and the growth of GE Capital. That strategy backfired in 2008 with the arrival of the financial crisis. General Electric had no competitive advantage in financial services. If anything, their risk controls were even inferior to those at other large financial institutions.

Barclays also says GECAS is an asset that’s underappreciated by investors: “We estimate that GECAS will help deliver ~$1.3–1.4B in run-rate free cash flow going forward… not an insignificant amount relative to GE’s ~$9B Industrial FCF in 2016.”

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Posted in Airlines and Airliners Business and Strategy

Best Practices for Onboarding New Employees: Maximizing Success

Benefits of Employee Retention Strategies

Guide to Employee Onboarding Best Practices

Often new hires leave too early for an organization to enjoy a return on its recruiting investment. The relationship between manager and new hire is critical to retention and performance. Managers can unleash the energy of their new hires by engaging them in a series of structured, powerful conversations over the first few weeks. By focusing these conversations on six sources of power, managers can connect early and cultivate more productive, motivated, and committed workers. These are: power from relationships, passion, challenges, focus, balance, and intention.

New hires often come fully charged, excited about their new adventure, and filled with energy and potential. By tapping into that energy, knowledge and wisdom right from the start, you can maximize the new hire’s potential, extend the handshake, and fuel that energy well past the beginning of the employment cycle.

While recruitment continues to be one of the most costly human resource processes, its longer-term effectiveness is being eroded by high attrition. Hiring doesn’t stop with the job offer. Today re-recruiting your best people is as critical as hiring them in the first place.

Often new hires leave too early for an organization to enjoy a return on its recruiting investment. And if they stay, are they productive, engaged, loyal, and committed? Have they simply “checked in” or are they “tuned in” and “turned on” as well?

The relationship between manager and new hire is critical to retention and performance. To increase retention and build loyalty during that critical first year, start by building the relationship between new hires and their managers.

Unleashing the Energy: New Employee Onboarding

Unleashing the Energy: New Employee Onboarding Improving first-year retention, decreasing time-to-productivity, and building loyalty and commitment are directly related to how quickly managers develop quality relationships with new hires.

Managers can unleash the energy of their new hires by engaging them in a series of structured, powerful conversations over the first few weeks. By focusing these conversations on six sources of power, managers can connect early and cultivate more productive, motivated, and committed workers.

  • Power from Relationship. There is no greater predictor of retention and engagement than the quality of the relationship between new hires and their managers and colleagues. The closer these bonds, the more new hires trust management, the more they feel cared for and valued, and the greater their focus, productivity, and satisfaction.
  • Power from Passion. People are more passionate about their work when they use their talents and skills to work on tasks and projects that interest them in environments that are consistent with the ways they prefer to work. Managers need to recognize their new hires’ skills, honor their interests, and leverage their strengths.
  • Power from Challenge. People get excited about their jobs (and stay excited) when they learn and grow in ways that have meaning for them. Managers need to become better talent scouts, and recognize potential when they see it. They need to provide for continued development and challenge.
  • Power from Focus. People are more committed when they know what the organization is trying to achieve, and how they can contribute to those outcomes. Managers must help new hires learn to navigate; understand the purpose, mission, and objectives; and appreciate how their efforts serve those goals.
  • Power from Balance. People’s lives extend well beyond the workplace. They have families, friends, lovers, and children to care for. They have finances to manage and households to maintain. They want to stay vibrant and healthy. They want to play and have time for themselves. Managers must make room for new hires and their whole lives.
  • Power from Intention. Managers and their new hires must follow through to earn the commitment and loyalty they both want: What new skills will they develop the first year, and how? What new areas will they explore, and how? What relationships are important to establish? How will the manager or new hire flex to make the relationship work best? What results will new hires be responsible for? How will they be rewarded? What support will the manager provide? It takes more than talk-new hires need to see tangible progress.

Benefits of Employee Retention Strategies

Best Practices for Onboarding New Employees: Maximizing Success What does the organization get in return? Here are a few bottom-line results:

  • Improved first-year retention rates. Engaging new employees early in shaping their jobs, designing their development, and building relationships can decrease first-year attrition.
  • Decreased time-to-productivity. Encouraging managers to be clear about what exactly is expected, and discuss how well new employees are learning their responsibilities can decrease the time required for new hires to get “up to speed.” They will contribute more, and do so more rapidly.
  • Reduced recruiting costs. Convincing new hires that they made the right choice can result in an increase in recruits referred by recent hires. Some organizations attract 70 percent of their new hires from recent hire referrals, reducing recruiting costs significantly.
  • Increased productivity. Making it possible for people to do what they do best, allowing them to pursue their interests, and building meaningful relationships can lead to higher productivity, increased customer satisfaction, and enhanced profitability.
  • Brand development. The more your become known as a great place to work, as an organization that cares about its employees, the more easily you attract the best and the brightest.
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Posted in Education and Career Management and Leadership

You Can’t Prove Anything About the Future

'Security Analysis' by Graham and Dodd (ISBN 0071592539) Venture investing plays an important role in entrepreneurship not only because financial resources are important to new ventures, but also because early investors help shape the ventures’ managerial and strategic destiny. Value investing is conceivably the most prevalent and durable style of investing.

However, despite its reputation, the theoretical foundations of value investing have developed little since the ground-breaking work of Benjamin Graham and David Dodd espoused in their classic Security Analysis (1934). They advise value investors to focus their attention on securities “which are selling below the levels apparently justified by careful analysis of the relevant facts.” They further encourage value investors to concern themselves with “the intrinsic value of the security and more particularly with the discovery of discrepancies between the intrinsic value and the market price.” In providing wide-ranging guidance for the estimation of intrinsic value, they write down that:

In general terms it is understood to be the value which is justified by the facts, e.g. the assets, earnings, dividends, definite prospects, as distinct, let us say, from market quotations established by artificial manipulation or distorted by psychological excesses. But it is a great mistake to imagine that intrinsic value is as definite and as determinable as is the market price. Some time ago intrinsic value (in the case of common stock) was thought to be about the same thing as “book value,” i.e. it was equal to the net assets of the business fairly priced. This view of intrinsic value was quite definite, but it proved almost worthless as a practical matter because neither the average earnings nor the average market price evinced any tendency to be governed by the book value. Hence this idea was superseded by a newer view, viz., that the intrinsic value of a business was determined by its earnings power. But the phrase “earnings power” must imply a fairly confident expectation of certain future results. It is not sufficient to know what the past earnings have averaged, or even that they disclose a separate line of growth or decline. There must be plausible grounds for believing that this average or this trend is a dependable guide to the future.

Variation in long-horizon security returns is governed by fundamentals. Reckoning the prospective yield by aggregating expected earnings over more than a few future years dominates existing approaches to measuring value. This analysis highlights significant opportunities for improvement in the relative-value metrics used by academics and practitioners. To determine the source of variation in future stock returns to various investment strategies. The book-to-market ratio is a comparatively poor measure of value and that much of its prognostic ability with respect to future stock returns appears to arise from other sources.

Investor Howard Marks Renowned investor Howard Marks (b. 1946) of Citibank, TCW Group, and Oaktree Capital Management at “Investor Series” interview with Oaktree founder and American investor Bruce Karsh at Wharton School, University of Pennsylvania:

There’s no such thing as analysis of what’s coming. We don’t know anything about the future, and you can’t prove anything about the future.

But if you’ve been in business and you’ve seen some cycles, and you’ve gained some experience and you’ve gone through those cycles with your eyes open saying “What are the implications of cycles for our behavior?”, then I think you can reach a point where you say, “You know what, it just feels like the power is in the hands of the issuers, not the buyers. It feels like there aren’t many sellers, just a lot of buyers. And the market is not acting in a disciplined way.”

We want to buy when the market in panicked, not when the market is sanguine. [Warren] Buffett says that “The less prudence with which others conduct their affairs, the greater the prudence with which we must conduct our own affairs.”

When other people are optimistic, we should be worried. When other people are panicked, we should turn aggressive.

Comports with Sir John Templeton‘s famous dictums “If you want to have a better performance than the crowd, you must do things differently from the crowd” and “Invest at the point of maximum pessimism.”

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Posted in Investing and Finance

Leadership Lessons from President Dwight Eisenhower

Leadership Lessons from President Dwight Eisenhower

President Dwight “Ike” Eisenhower, a graduate of the US Military Academy Class of 1915, set the benchmark for “Supreme Command” in coalition operations; the standards he articulated and personified in the 1940s continue to pilot senior military commanders. Even more profound than Eisenhower’s intelligence as a coalition commander was his impression in shaping state-of-the-art leadership principles for officers in militaries of a democracy.

One simple solution for surpassing limiting beliefs and making headway toward significant goals in our lives. Eisenhower knew what it took to lead soldiers and build cohesive units at the tactical level; he was passionate about leadership and leader development. Unity of Command was his simple establishing principle, but he knew that placing a single person in charge was insufficient to ensure unity. Today, leader advancement is the core mission component of the Academy.

Goals are about growing. A good goal causes us to grow and mature. That’s because every goal is about the journey as much as—even more than—the destination. And that’s exactly why setting goals outside the comfort zone is so imperative.

We gathered frequently in the dining room of Quarters 100—the elegant residence for 200 years of the Superintendent of the U.S. Military Academy at West Point—for spirited conversation on history, politics, and leadership. As the Academy Superintendent in the late 90s, we relished this give-and-take. We brought to the Academy some of the best thinkers on leadership; the supper conversation reflected the energy of the participants. A recurrent question was this: “Whom do you regard as West Point’s most distinguished graduate?”

Dwight Eisenhower: History, Politics, and Leadership

The menu of alumni was a rich one: Grant, Lee, MacArthur, Goethals, Groves, Pershing, Bradley, Patton, and Eisenhower, among others. The agreement seemed always to focus on one graduate: Dwight D. Eisenhower, USMA Class of 1915, for his intense command of allied forces in the European theater during WWII. Eisenhower set the standard for “Supreme Command” in coalition campaigns; the principles he expressed and personified in the 1940s continue to channel senior military commanders.

Dwight D Eisenhower: History, Politics, and Leadership Lessons Even more profound than Eisenhower’s brilliance as a coalition commander was his influence in shaping modern leadership principles for officers in armies of a democracy. The strength of a memory is also determined by the emotional state that accompanied the original event. Without question, Eisenhower had no equal in stroking, cajoling, and managing prickly alliance personalities like Churchill, Montgomery, de Gaulle, Admiral Darlan, and Italian Marshall Badoglio—to say nothing of his challenges with George Patton. He was the consummate Supreme Commander.

The eloquent text above is simply for your benefit. It’s not actually part of the template. These beings are kenned by the adepts to be magnetized toward certain quarters of the heavens by something of the same abstruse property which makes the magnetic needle turn toward the north, and convinced plants to comply with the same magnetization. In such a way there is impermanent meaning and true meaning.

Fear usually plays a part in the decisions we make. Probably the biggest fear that you will have to face when making a decision is that of failure. Obviously, the bigger the decision, the greater the downside if it doesn’t pan out. Eisenhower also knew what it took to lead soldiers and build cohesive units at the tactical level; he was passionate about leadership and leader development. As a result of his submissions to Army leaders, Eisenhower influenced not only the formal leadership program of the U.S. Military Academy, but also the leadership ethic for young officers commissioned after 1945. Likewise, feelings, recognitions, volitions and consciousness are empty.

Dwight D Eisenhower: Situational Leadership

Dwight D Eisenhower Situational Leadership

Dwight Eisenhower’s leadership was is often a value judgment that varies from person to person and for one person from situation to situation. We call it situational leadership:

  1. Be mellow in manner, tough in deed: Eisenhower had a paperweight conspicuously exhibited on his desk with a Latin engraving meaning “gently in manner, strong in deed.” These are known as secret or insight activities. This reflected his philosophy and style. He was not full of bluster. He never threatened. This is the way of insight.
  2. Be a guide, not an initiator: Eisenhower once expressed leadership as “the art of getting someone else to do something you want done because he wants to do it.” This is the field of merit of beings. By vigilant organization and a premeditated crafting of words to hit the right note. When practicing, it is sufficient to just keep your mind on the method. He knew the importance of words— specifically those spoken by the person in charge—to motivate and persuade. There is another problem with the first cause argument. He believed in planning. He thought it was dangerous for a leader to shoot from the hip. We should take this to heart.
  3. Don’t talk too much: Even with no infirmities, the life of beings is passing. Some people just can’t help themselves and simply start prattling (luckily this didn’t happen to me). Either they’re nervous about figuring out the right thing to say, or they’re panicky about saying the wrong thing. And this full clarity is beyond inner and outer. But, when you talk too much the anguished person will sometimes begin to feel that they must take care of you.
  4. Know what you don’t know: Eisenhower cherished that his completest resource was not his own brilliance but the talent of his team. It frees a tremendous energy. He once wrote this piece of advice: “Always try to associate yourself with and learn as much as you can from those who know more than you do, who do better than you, who see more clearly than you.” And he understood that autonomy can be defined as the ability to make choices according to one’s own free will. He was a collaborator; and if no such challenge developed in that time, he would presume to be there by right, even though he might not have any life story.
  5. Don’t let success go to your head: Eisenhower never considered himself to be a hero when compared with the men who landed at Normandy and met the enemy on the bloodstained fields of battle. Soon after the war, he called on General Douglas MacArthur, his old boss, in Japan. MacArthur, impelled up about their success, crowed that as vanquishers either one of them could surely be elected president. It was reported that Eisenhower left that meeting red-faced and angry. He loathed the hero label. When years later he did become president, he was repeatedly disapproved for not being personally dynamic or out in front. He was lavish about letting those around him take the recognition for his ideas. This approach paid off in allegiance and execution. And many made great sacrifices to attend, frequently working his way through military.

In both arenas—supreme command and officer leadership—Eisenhower was a revolutionary. Before him, no U.S. commander had been entrusted with coalition command. General Pershing fought to maintain the integrity of U.S. forces as commander of the American Expeditionary Force in WWI, but he was subordinate to the French Commander-in-Chief; Eisenhower led allied forces from fall 1942, and by war’s end, had over four million men from five nations under his command. His approach to combined command complemented a sophisticated coalition leadership model—a model employed to this day.

Dwight Eisenhower: Unity of Command

Unity of Command was his simple organizing principle, but he knew that placing a single person in charge was disappointing to ensure unity. This had to be exercised through “earnest cooperation,” earned through “patience, tolerance, frankness, and honesty.”

Unity of Command: Leadership Lessons from Dwight Eisenhower Commanders in the 1990s, General George Joulwan in Bosnia and General Wesley Clark in Kosovo, achieved coalition success despite intra-alliance arguments by sticking to Eisenhower’s maxims. Similarly, two Central Command combatant commanders, Generals Norman Schwarzkopf and John Abizaid, profited from the trailblazing experiences of Eisenhower. Schwarzkopf exhibited a knowledge of alliance understandings and alliance politics by deftly managing more than 30 combination partners in Desert Storm. He clearly personified unity of command. But he knew this could never be effectively exercised unless he had consent of those he led, particularly his Arab partners, and most visibly, the Saudis. Again, Eisenhower’s coalition leadership principles proved decisive—and enduring. And they are reflected in the leadership exercised in 2005 by the Coalition Commander in Iraq, General John Abizaid, a student of the leadership of Eisenhower. After his discussion, his wish got him thinking about which of the three ways we die is actually best.

That these practices are connected with the proper kinds of beings and times is important. Besides transfiguring the doctrine of collective command at senior levels, Eisenhower was zealous about leadership development for junior officers. What he observed in the behavior of many U.S. officers in the European theater disturbed him greatly. Too many officers never identified with their soldiers; they were too eradicated from the needs of their troops. Further, Eisenhower was appalled by the behavior of officers who substituted screaming, even physical abuse of subordinates, for positive leadership. Eisenhower said, “You don’t lead by hitting people over the head; that’s assault, not leadership.” Life cannot be real if relationships are not real.

West Point Curriculum: Practical and Applied Psychology

Eisenhower felt that the West Point curriculum should include coursework in practical and applied psychology to “awaken the cadets to the necessity of handling human problems on a human basis,” and thereby improve leadership in the Army.

Eisenhower’s suggestion was soon followed by the establishment at the Academy of the Department of Behavioral Psychology and Leadership. For more than 50 years, it has instilled in cadets the principles of small unit leadership.

Instead of ignoring parts of the orchestra, a symphonic life of Dwight Eisenhower consists of five habits that ensure harmony:

  1. Anyone who has the self-control to steep his noetic conceptions in them may be sure that in a shorter or longer time they will lead him to personal vision.
  2. If your culture supports open dialogue and learning from mistakes, public commitments and public results can fire up morale.
  3. Contrary to the popular exhortation, people do judge books by their covers. That’s why it’s important we select the right one for this book.
  4. The moments of break-through where real change happens aren’t typically instant and extraordinary. They usually happen gradually in the ordinary course of our lives.
  5. One of the most obvious things about the future is that we are not there yet. The question for us as we start a small unit leadership is whether to drift or direct our lives where we want them to go.

U.S. Military Academy at West Point Today, leadership development is the core mission component of the Academy. The emphasis is on values, inspiration, and imagination. Eisenhower knew these could not be created in the cerebral equivalent of a strait jacket, with rote, mechanical instruction disconnected from the human problems of the individual soldier. In other words, we need to think about what we want to be true of us when it’s all said and done. Once that picture is in mind, we review the steps that journey requires and live them forward. Then comes the hard part.

The Supreme Commander who associated with his troops shaped the leadership ethic of my generation. Eisenhower took the time to write to parents of his soldiers, to talk to 101st Airborne Division paratroopers prior to their DDay jump, to prescribe leadership doctrine while he commanded millions. He was, in short, encouraging. And he personified the essential bond—trust. His soldiers trusted him because he exuded the values of integrity and respect—values that remain the core of our Army’s leadership principle.

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Posted in Management and Leadership Uncategorized

FedEx’s ZapMail Service: Failure to Foresee

Innovation is Not Without Risk

How Federal Express's Zapmail System Works

One of the defining characteristics of great leaders is their knack for seeing into the future.

Innovation is not without risk. There are plenty examples of failures at companies. However, on the other side of the coin, if you’re too cautious and too late—all you have is a dinosaur business. Navigating that fine line between risk and innovation is very important.

FedEx's Zapmail System Case in Point: ZapMail Service was a system that used fax machines at FedEx offices to transmit documents for clients in different cities. After being introduced in 1983, when FedEx was known as Federal Express, the service was soon eclipsed by the rise of fax machines priced cheaply enough that most offices could purchase their own. In addition, ZapMail was based on satellite technology, which needed the space shuttle to work effectively. However, the space shuttle blew up, dealing a body blow to FedEx’s plans. FedEx folded ZapMail in 1986, taking a costly write-off.

No Innovation Without Experimentation

Commenting about FedEx’s ability to integrating new acquisitions into its fold after its purchase of Paul Orfalea’s Kinko’s franchise, journalist Michael Copeland commented in the Autumn-2006 issue of Booz & Company’s Strategy & Leadership magazine:

As with other acquisitions, Fred Smith saw something in Flying Tigers and American Freightways that others didn’t because his point of focus lay far beyond theirs. Mr. Smith doesn’t always get it right when he looks into the future. His expensive and ultimately failed experiment in ZapMail, a dedicated fax network that couldn’t compete in the early 1980s with the new, inexpensive consumer fax machines, is proof. “A guy like Fred Smith doesn’t build a company like FedEx without taking some risks and making some mistakes,” says Mr. Hatfield, the Morgan Keegan analyst, “but clearly the successes far outweigh the failures.”

Federal Express's Zapmail System There can be no innovation without experimentation, and there can be no experimentation without the risk failure. In addition, taking risk goes against the grain of many companies’ cultures. In the corporate world, there are powerful incentives for people to play it safe. However, leaders must work particularly hard to offset these forces and give their teams the consent to fail and the assurance to make their case and go out on a limb. Leaders must not only promote experimentation, but also encourage people to terminate faster on projects that are not working without fear of reprisal. That is to repeat the cliche “fail, but fail as fast as possible” and take the lessons learned to the next experiment.

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Posted in Business and Strategy

Warren Buffett on Taking a Few Big Swings

Warren Buffett on taking a big swing from a 1998 Q & A (video here) that he and Bill Gates did with students at the University of Washington (via valuewalk.com):

A few things have worked out very well [for me]. And the nice thing about the investment business is that you don’t need very many. You’ll see plenty of times when you get chances to do things that just shout at you. And the thing you have to do is, when that happens, you have to take a big swing. That is no time to be reading a book on the theory of diversification …. When you find something where you know the business is within your circle of competence, you understand it, the price is right, the people are right—then you take your thumb out of your mouth and you barrel in.

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Posted in Investing and Finance

50 Inspirational Quotes for Mothers’ Day

50 Inspirational Quotes for Mothers' Day

  • A Jewish proverb says, “God could not be everywhere and therefore he made mothers.”
  • John Erskine said, “Woman in the home has not yet lost her dignity, in spite of Mother’s Day, with its offensive implication that our love needs an annual nudging, like our enthusiasm for the battle of Bunker Hill.”
  • Golda Meir said, “At work, you think of the children you have left at home. At home, you think of the work you’ve left unfinished. Such a struggle is unleashed within yourself. Your heart is rent.”
  • Sam Levenson said, “Insanity is hereditary; you get it from your children.”
  • Jacqueline Kennedy Onassis said, “If you bungle raising your children, I don’t think whatever else you do well matters very much.”
  • Abraham Lincoln said, “I remember my mother’s prayers and they have always followed me. They have clung to me all my life.”
  • Gregory Nunn said, “Anyone who doesn’t miss the past never had a mother.”
  • Tenneva Jordan said, “A mother is a person who seeing there are only four pieces of pie for five people, promptly announces she never did care for pie.”
  • James Joyce said, “Whatever else is unsure in this stinking dunghill of a world a mother’s love is not.”
  • Germaine Greer said, “All that remains to the mother in modern consumer society is the role of scapegoat; psychoanalysis uses huge amounts of money and time to persuade analysis and to foist their problems on to the absent mother, who has no opportunity to utter a word in her own defense. Hostility to the mother in our societies is an index of mental health.”
  • Dorothy Canfield Fisher said, “A mother is not a person to lean on, but a person to make leaning unnecessary.”
  • Barbara Kingsolver said, “It kills you to see them grow up. But I guess it would kill you quicker if they didn’t.”
  • Chinese Proverb says, “There is only one pretty child in the world, and every mother has it.”
  • Peter De Vries said, “A suburban mother’s role is to deliver children obstetrically once, and by car forever after.”
  • Mildred B. Vermont said, “Being a full-time mother is one of the highest salaried jobs… since the payment is pure love.”
  • William Feather said, “Setting a good example for your children takes all the fun out of middle age.”
  • Helen Hunt Jackson said, “Motherhood is priced; Of God, at price no man may dare/To lessen or misunderstand.”
  • Aristotle said, “Mothers are fonder than fathers of their children because they are more certain they are their own.”
  • Baltimore mayor Stephanie Rawlings-Blake to Sophia: “I love everything about you. I love that you want to wear jeans under a bridesmaid dress. I love that you are competitive yet kind. I love that you have friendships that will last a lifetime, and one day I hope you count me as one. Your independence shines through everything. And even though I am biased, I believe you will be a leader. Your life is just getting started. I am so excited to see where you go and what you do. I hope when you read this letter, you don’t turn your nose up and think it’s too sappy. I know I embarrass you all too frequently these days. But know it’s because I am so proud you are my daughter.”
  • Elizabeth Stone said, “Making a decision to have a child–it’s momentous. It is to decide forever to have your heart go walking around outside your body.”
  • Florida Scott-Maxwell said, “No matter how old a mother is, she watches her middle-aged children for signs of improvement.”
  • Henry Ward Beecher said, “We never know the love of the parent until we become parents ourselves.”
  • Lin Yutang said, “Of all the rights of women, the greatest is to be a mother.”
  • Rajneesh said, “The moment a child is born, the mother is also born. She never existed before. The woman existed, but the mother, never. A mother is something absolutely new.”
  • Sophia Loren said, “When you are a mother, you are never really alone in your thoughts. A mother always has to think twice, once for herself and once for her child.”
  • Ezekiel 16:4 says, “As is the mother, so is her daughter.”
  • James Fenton said, “The lullaby is the spell whereby the mother attempts to transform herself back from an ogre to a saint.”
  • Businesswoman and Philanthropist Ivanka Trump to Arabella, Joseph and Theodore: “Arabella, when I started my company I thought of you. I considered the opportunities available to women in my generation, and I knew that I had a role to play in continuing to push the needle further. … There will be lots of things I’ll teach you in the years to come-some you’ll remember, some you’ll dismiss. But I hope that in my leading by example, you’ll each make your own decisions and chart your own course. Take nothing for granted. Know that in life, the harder you work, the luckier you’ll get.”
  • Ali Wentworth (writer, comedian, and wife of ABC News’George Stephanopoulos) to Elliott and Harper: “You were born with determination, fierceness and the kind of inner strength that moves mountains. Don’t ever let anyone tell you you can’t. People say, “Carpe diem.” But I say, don’t seize only the day, seize the life-“Carpe vitam!”
  • Elaine Heffner said, “Women do not have to sacrifice personhood if they are mothers. They do not have to sacrifice motherhood in order to be persons. Liberation was meant to expand women’s opportunities, not to limit them. The self-esteem that has been found in new pursuits can also be found in mothering.”
  • Oscar Wilde said, “All women become like their mothers. That is their tragedy. No man does. That’s his.”
  • Actor and film historian Debbie Reynolds to Carrie and Todd: “our life continues to be a terrific adventure. You make me proud on Mother’s Day and every other day. I love you more than words can ever say.”
  • An unknown author said, “All mothers are working mothers.”
  • Anne Morrow Lindbergh said, “By and large, mothers and housewives are the only workers who do not have regular time off. They are the great vacationless class.”
  • Henry Ward Beecher said, “The mother’s heart is the child’s schoolroom.”
  • Lawrence Housman said, “If nature had arranged that husbands and wives should have children alternatively, there would never be more than three in a family.”
  • Henry Bickersteth said, “If the whole world were put into one scale, and my mother in the other, the whole world would kick the beam.”
  • T. DeWitt Talmage said, “Mother – that was the bank where we deposited all our hurts and worries.”
  • Zora Neale Hurston said, “Mama exhorted her children at every opportunity to ‘jump at de sun.’ We might not land on the sun, but at least we would get off the ground.”
  • Pop singer Britney Spears to Jayden and Preston ‘God always comes to us in tiny whispers. I pray you always find his whisper and follow your inner voice as well.”
  • Retired professional boxer Laila Ali to Sydney and Curtis: “i love you when you win, i love you when you lose.i love you no matter what, because you can’t make mommy stop loving you.”
  • Ralph Waldo Emerson said, “Men are what their mothers made them.”
  • Nancy Thayer said, “Who is getting more pleasure from this rocking, the baby or me?”
  • Betty Rollin said, “Biological possibility and desire are not the same as biological need. Women have childbearing equipment. For them to choose not to use the equipment is no more blocking what is instinctive than it is for a man who, muscles or no, chooses not to be a weightlifter.”
  • Jill Bennett said, “Never marry a man who hates his mother, because he’ll end up hating you.”
  • Harriet Beecher Stowe said, “Most mothers are instinctive philosophers.”
  • Oliver Wendell Holmes said, “The real religion of the world comes from women much more than from men – from mothers most of all, who carry the key of our souls in their bosoms.”
  • Spanish Proverb said, “An ounce of mother is worth a ton of priest.”
  • James Russell Lowell said, “That best academy, a mother’s knee.”
  • Honore de Balzac said, “The heart of a mother is a deep abyss at the bottom of which you will always find forgiveness.”
  • W. Somerset Maugham said, “Few misfortunes can befall a boy which brings worse consequences than to have a really affectionate mother.”

The Tao of Gratitude to a Mother

'The Taoism Reader' by Thomas Cleary (ISBN 1590309502) Per Thomas Cleary’s handy The Taoism Reader, Lu Yen, more commonly known as Ancestor Lu, who lived during the Tang Dynasty, reminds that one cannot thank one’s mother enough:

A woman carries a child in the womb for ten months, then gives birth in pain. Breast-feeding for three years, she watches over the infant with great care, aware of when it is sick, in pain, uncomfortable, itching. Whatever she does, even when she is not there, she always thinks of the baby. She is happy when she sees it laugh and worries when it cries. Seeing it stand and walk, she is at once anxious and exhilarated. She will go hungry to feed the child, she will freeze to clothe it. She watches, worries, and works, all for the child’s future. How can one ever repay the debt one owes to one’s mother?

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The E-Learning Revolution

10 Advantages of e-Learning

Executives face the challenge of recognizing when and where change is coming and how it will affect their business. The knowledge of employees represents a competitive edge that most companies neglect. Only those who have not succeeded know the secret of success in life.

'Guide to e-Learning' by Michael Allen (ISBN 1119046327) Today, the emerging juggernaut of corporate training and learning is e-learning. E-learning represents a wide range of activities and technologies, including distance education, computer-based training, and web-based training. E-Learning represents the integration of multimedia, instructor-led, and real-time training—all in a collaborative environment.

Today, corporations have three basic concerns: hiring, training, and retention of intellectual capital. It’s difficult to train and retain knowledge workers who are now “free agents” and job hoppers. What they offer is portable knowledge. E-learning offers a simple, long-term solution.

10 Advantages of e-Learning

E-learning is the fastest-growing segment of the training market. Web-based training revenue is projected to reach $32 billion by 2025. I believe e-Learning offers 10 major advantages.

  1. Real-time learning and application of critical knowledge. E-learning is immediate and up-to-date. No comparisons or analogies are possible in this causeless state.
  2. Learner-centric training. E-learning changes the focus of training from instructor to learner. It is tailored to the learner’s responsibilities and capabilities, creating relevant applications.
  3. Attract, train and retain. The number one reason for loss of key employees is that they feel their company has not invested sufficient resources for their professional development.
  4. Personalized training. An effective e-learning system learns about its users and tailors its offerings to their learning style, job requirements, career goals, current knowledge, and preferences.
  5. The E-Learning Revolution Ownership. E-learning empowers people to manage their own learning and development plans. Ownership of learning is crucial for individual growth and retention of employees. Many governments feel that, like the phone network, the Internet should be administered under a multilateral treaty.
  6. Simulation. We learn by doing. E-learning is an innovative way of simulating each learning experience with content provided by top professionals.
  7. Collaboration. This is done through either joint problem-solving or the sharing of ideas and experience among study groups and chat rooms. Collaboration is the path to effective learning and innovative processes.
  8. Anytime and anywhere. Training in a virtual information classroom is now possible anytime, anywhere. And those people are rough people.
  9. Cost effective. Costs can be applied to each learner, and results measured against costs. And, e-learning is less intrusive to daily work duties, saving time and money through less interruption of employees regularly scheduled duties.
  10. Quantifiable. E-learning can be effectively measured in terms of knowledge gain and retention. With e-learning, corporations can track progress, report results, and specify additional subject matter. This is where ROI will be recognized by the employer and employee.

'There is Always Something to Do' by Peter Cundill (ISBN 0773535373) E-learning enables corporations to manage the tasks of hiring, training, and retaining new knowledge workers. This year over 70 million people will receive training and education on the Internet. Soon, training for virtually every job will be available over the Internet. Speed, connectivity, and intangible value have made e-Learning the choice for creating a competitive advantage.

People who can learn from other people’s experiences have a leg up. Most people just learn from their own experiences. As the Canadian value-investor Peter Cundill is quoted in There’s Always Something to Do, “Curiosity is the engine of civilization. If I were to elaborate it would be to say read, read, read, and don’t forget to talk to people, really talk, listening with attention and having conversations, on whatever topic, that are an exchange of thoughts. Keep the reading broad, beyond just the professional. This helps to develop one’s sense of perspective in all matters.”

Success in today’s dynamic world is based less on how much you know than on how quickly you can learn. Be open-minded about e-learning. People often muddle up being open-minded with not having a unyielding position. If truth be told, having firm convictions, anchored in criteria we have decided are important to us, is virtually a prerequisite of being open-minded. Being open-minded means listening carefully and deferentially to the position of another.

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Marketing Demographics by Age

Marketing Demographics by Age

Companies seeking long-term business growth can find it by emphasizing the earning power of young workers, near-retirees, and women.

We all want to be treated equally and fairly during the buying and service process, regardless of our age. Let’s examine how you, as a service provider, can give exceptional service by understanding the needs and values of each age group.

Marketing to The Veterans

Marketing to The Veterans These people were born before 1943. Their beliefs and values include: Everyone should adhere and conform to the same rules, regulations, and policies. Those who are older or in positions of authority automatically deserve respect. Patience is an important virtue. The bigger the better. Personal pleasure is secondary to job responsibilities and tasks.

To win them over as a lifetime customers, make them feel special by remembering their name. Honor them by calling them Mr. or Mrs. or Sir and Ma’am. Thank them for their patronage with a personal note. Add a personal touch, and show genuine interest in them as a person.

Marketing to The Boomers

Marketing to The Boomers These people were born between 1943 and 1960. Their beliefs include: If it’s not working, either fix it or move on and find something better. They value personal growth, health, and wellness. They are optimistic. They believe they are the star and deserve center stage.

To keep them as lifetime customers, provide service that treats them as individuals, not just clients. Be personable. They value personal relationships that grow with time. Be solution oriented. If you can’t fix something, be honest; and then offer alternatives. Boomers value their time and want solutions now. Don’t tell Boomers what they can do.

Marketing to Generation X

Marketing to Generation X Baby Busters or 20-somethings were born between 1960 and 1980. They have a need to be self-reliant. They value family and friends. They tend to be informal and look for fun in every situation. They treat everyone as an equal regardless of “rank” but tend to be skeptical. They have respect for knowledge and technology.

If you want them to do business with your company, show interest in their family and friends, and admire their children if they are tagging along, or their pictures are prominently displayed on their desk. Treat them as equals. Approach situations in a relaxed and informal manner. Let them ask questions and seek information. Show that you have nothing to hide. Use technology to demonstrate your product and services.

Marketing to The Nexters

Marketing to The Nexters Generation Y or the Internet Generation were born between 1980 and 2000. They tend to be optimistic, street smart and very computer and technology literate. Achievement oriented, they are also strong believers in civic duty. They learn flexibility early since many come from divorced families.

If you want these customers to do business with your company, appeal to their strengths. These young people like to spend money, and they are more likely to purchase your product if your business donates to non-profit organizations. Also, appeal to their technical shrewdness. If it makes life more convenient, easier or is the latest in technology, they will probably want it.

Conclusion: For successful marketing by age-demographics, consider each age group and customize your service

Service providers can give exceptional service by understanding the needs and values of each age group. I give these guidelines to assist you in providing the best possible customer care, but nothing will ever surpass kind and equal treatment to each and every customer you serve.

Learn to present information in a different manner to appeal to core values, which are different for each generation.

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100 Best Business Books of All Time

Following years of reading, appraising, and retailing business books, 800-CEO-READ creator Jack Covert, ex-president Todd Sattersten, and present general manager Sally Haldorson have selected and appraised the one hundred greatest business titles of all time—the ones that dispense the biggest payoff for today’s occupied readers. It’s a great list, and in the vein of all lists, bound by argument and long-windedness about what is and isn’t contained in this list. Each book gets a couple of pages of outline handling.

Best Business Books on Improving Your Life

Best Business Books on Leadership

Best Business Books on Strategy

Best Business Books on Sales and Marketing

Best Business Books on Economics and Metrics

Best Business Books on Management

Best Business Biographies

Best Business Books on Entrepreneurship

Best Narratives of Fortune and Failure

Best Business Books on Innovation and Creativity

Best Books on Big Ideas About the Future of Business

Best Business Books on Management and Leadership Lessons

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Posted in Business and Strategy Leaders and Innovators Management and Leadership Mental Models and Psychology Philosophy and Wisdom