Okay, I didn’t exactly go toe-to-toe with Earvin (Magic) Johnson on the court, but I did face-off against him at the 2013 Milken Institute Global Conference. Let me explain…
It’s spring in Los Angeles and that can only mean one thing–it’s time for the much anticipated Global Conference. That’s how the Wall Street Journal described the event today–with 3500 people attending 140 sessions spread over 4 days. There are more than 600 speakers ranging from Al Gore to Tony Blair; Rupert Murdoch to Carlos Slim and Magic Johnson to Joe Torre. And the range of topics is just as broad–public policy topics like immigration reform and tax reform; healthcare issues and AIDS improvements to the future of Africa.
This was the tenth year for The Principal at the conference, although it was my first. The range of topics, the quality of the speakers and the encouragement for spirited discussion all serve to make this an eye-opening and educational event. Talk about getting out of your comfort zone!
As a numbers guy – in the insurance industry to boot – one might be surprised to know that I enjoy playing the guitar as much as I love analyzing tax-exempt retirement plans!
I’ve learned it’s one thing to own a really cool guitar (and having it sit in the corner collecting dust), but it’s another to pick it up and practice regularly so you can truly enjoy it.
Maybe the same is true for some employers with their participant education plan. The plan might look good on paper, but could use a little work in order to hit the right notes with employees. So I’d like to provide some best practices to help you create a participant education plan that can rock. Read more
The U.S. Treasury Department is going to need a new boss soon. Timothy Geithner has been fairly clear that four years as Secretary of the Treasury is quite enough for him. That means it’s speculation season and time to figure out who will fill the desk on Pennsylvania Avenue (the Treasury’s located at 1500 Pennsylvania Avenue – just next door to the White House) after Geithner tenders his resignation.
The two lucky “bachelors” in the Treasury Secretary Dating Game are Erskine Bowles and Jacob “Jack” Lew; these are about the only two names that anyone’s seriously throwing around. So let’s start sizing up our contestants.
When most people hear Employee Stock Ownership Plan (ESOP) they think exit planning (or maybe nothing at all). That’s not surprising given that historically ESOPs have been positioned as a succession planning approach.
Here’s an example, a key partner at a manufacturing company wants to retire, but the remaining partners can’t afford, or don’t want to buy him or her out. An ESOP could be used by the remaining partners to fund the buyout of the partner that’s leaving in order to avoid divesting the company.
However, to think of ESOPs as only a tool for exit planning sells them short. Let’s broaden our perspective for a second. Read more
As the writer of a blog about employee stock ownership plans (ESOPs) I want to believe that everyone is interested in the topic. But I know that isn’t true.
For example, the Galapagos giant tortoises (Chelonoidis nigra) aren’t interested in the plans. Even if they owned businesses (which I realize that they don’t), they wouldn’t likely be very interested in ESOPs for several reasons. They: Read more