Corporate Values – Upbeet Communications http://upbeetcommunications.com/ Sat, 06 Aug 2022 20:42:59 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://upbeetcommunications.com/wp-content/uploads/2021/07/icon-3.png Corporate Values – Upbeet Communications http://upbeetcommunications.com/ 32 32 Elon University / Today in Elon / Charge Elon’s New Law Students: Use Your “POWER” https://upbeetcommunications.com/elon-university-today-in-elon-charge-elons-new-law-students-use-your-power/ Sat, 06 Aug 2022 17:30:56 +0000 https://upbeetcommunications.com/elon-university-today-in-elon-charge-elons-new-law-students-use-your-power/ Prioritize people and the network. Open yourself to trying new things. There are many ways to give back. Embrace the journey. Reputation management is important. Gerald L. Walden Jr. G’14 believes that the best lawyers are those who establish these habits and values ​​early in their legal studies – and that means now is the […]]]>

Prioritize people and the network. Open yourself to trying new things. There are many ways to give back. Embrace the journey. Reputation management is important.

Gerald L. Walden Jr. G’14 believes that the best lawyers are those who establish these habits and values ​​early in their legal studies – and that means now is the time for new law school students. ‘Elon University to commit to healthier habits of mind. and using their “POWER”

The president-elect of the Greensboro Bar Association delivered a convocation address Aug. 5, 2022 to Elon Law’s class of 2024, the second-largest and one of the most diverse in the program’s history.

With 168 students, Elon Law’s class of 2024 is the second largest in the program’s history.

Walden is Assistant Vice President/General Counsel and Chief Diversity Officer for The Fresh Market, Inc., a specialty grocery retailer headquartered in North Carolina. His remarks were based on his two decades of professional experience handling most of the major litigation the company faces and all of its labor and employment law matters.

“You are about to embark on one of the most rigorous and hopefully one of the most rewarding experiences of your life,” he said. “Become a lawyer.”

Walden noted that some students come to law school with a clear idea of ​​the type of law they want to practice. That’s perfectly fine, he said. Don’t ignore opportunities that arise, even in areas of practice you’ve never considered before.

“Whenever I’m asked what makes a great intern or a new lawyer, it’s just someone who wants to learn,” Walden said. “Certainly, being an intelligent person and a strong writer and researcher is a given. Beyond that, I want someone who is willing to work in an area of ​​law they had no prior knowledge of or thought they liked and who tackles it as if they were born for it. TO DO.

Acting Provost Raghu Tadepalli presented each member of the Class of 2024 with the symbolic gift of an acorn to represent the start of their growth as law students and legal leaders.

Then find ways to give back. Walden said there are many community lawyers who can help solve problems with the knowledge they have.

“Law students and lawyers are uniquely positioned to help resolve legal issues faced by individuals, groups and organizations to promote the public good,” he said. “It may be easier for some than for others depending on the type of law you practice…but as a lawyer, even a law student, there are always opportunities to volunteer your time and talents .

Finally, Walden said, never forget that a lawyer’s reputation is critically important to their success.

“A brand and your reputation are important in many professions, especially those where you’re trying to attract and retain customers,” he said. “Lawyers are already the butt of many jokes and certain negative stereotypes, so why fuel this by acting more unprofessionally, disrespectfully, without honor or integrity?”

And protect your online reputation and the way you present yourself to others. “Lock your social media accounts as soon as possible,” Walden said. “Delete questionable images that could put you in a bad light. Google yourself and see what happens. If you see something questionable that you are unhappy with, do something to change it.

Walden joined The Fresh Market in 2004 after two court clerkships at the North Carolina Court of Appeals. He graduated summa cum laude in 1996 from North Carolina Agricultural and Technical State University with a bachelor’s degree in mechanical engineering. He received his Juris Doctor with honors in 2001 from North Carolina Central University School of Law and an MBA in 2014 from Elon University.

Walden serves on the NC A&T Board of Visitors, NCCU Law Board of Visitors, Elon Law School Advisory Board, Greensboro Bar Association Board of Directors, National Employment Law Board of Directors Council and the Member Engagement Advisory Council of the Greensboro Chamber of Commerce.

In recent years, he has served as president of the Guilford County Association of Black Lawyers, a member of the board of governors of the North Carolina Bar Association, and chairman of NCBA’s Minorities in the Profession Committee.

The ceremony at the Alumni Gymnasium on Elon’s main campus in Alamance County included a presentation by each member of the class who signed a copy of the Elon Law Honor Code before walking across a stage to hug the hand of Acting Elon University Provost Raghu Tadepalli and Acting Elon Law. Dean Alan Woodlief.

The convocation featured remarks from Tadepalli and Faisal Sulman L’22, president of the Student Bar Association who, coincidentally, completed his residency practicing Elon Law under Walden’s supervision at the Fresh Market.

Both welcomed the class of 2024 to Elon Law: Tadepalli on behalf of Elon faculty and administration, and Sulman on behalf of Elon Law’s student body.

Each member of Elon Law’s Class of 2024 signed a poster to display in Greensboro with the four tenets of the university’s honor code.

Tadepalli described how Elon Law’s professors enjoy teaching students inside and outside the classroom and how they are known for their accessibility and responsiveness to students. He told the class to seize the opportunity to work with “this community of exceptional thinkers”.

“Active scholarship is the engine that keeps professors intellectually curious and stimulated, and research influences and enhances the ideas they share with you in the classroom,” Tadepalli said. “I hope you will ask your faculty questions about their scientific interests and how they are advancing their disciplines.”

Sulman encouraged his new classmates to use law school resources as they embark on a program that will challenge them in a way that is different from their undergraduate studies.

“Each of you sitting across from me has access to a phenomenal support system of experienced faculty, staff and students willing to go above and beyond to help you. None of you are alone in this process,” Sulman said. “Law school is going to be tough. However, it’s called law school for a reason. You’re here to learn. You’re not going to get everything from the start. and it doesn’t matter.

Faisal Sulman L’22 is the 2022 President of the Elon Law Student Bar Association.

“Take a deep breath, reset and try again. And if you still can’t get it, ask faculty, staff, and students for help.

At the end of the ceremony, Woodlief shared the symbolism of the tassel that everyone received after signing the honor code poster. Their upbringing in Elon — the Hebrew word for “oak tree” — will transform them over the next 2.5 years, Woodlief explained.

After graduation, another gift will symbolize this growth. Until then, he said, focusing on the principles of the honor code will help students develop an important attribute for any lawyer.

“By embracing the values ​​of honesty, integrity, responsibility and respect, you demonstrate your desire to serve the public good while upholding the high standards of a noble profession,” Woodlief said. “A lawyer’s reputation is his most valuable asset.

Each member of the Class of 2024 received a tassel as a symbolic gift after signing a poster with the four tenets of Elon University’s honor code.

“While it’s nice to get good grades, your reputation will depend less on your grades and more on what others observe about you – your value ethic, your diligent preparation for class, your commitment to honesty and ethical behavior, as well as the civility and respect you demonstrate. others in the classroom and outside. These same things will also shape your reputation as a practicing lawyer after law school.

About Elon Law

Elon University School of Law in Greensboro, North Carolina is the leading school for engaged and experiential learning in law. With an emphasis on learning-by-doing and among the top quartile of U.S. law schools for low levels of student debt at graduation, it integrates traditional classroom instruction with residencies in full-time practice linked to coursework in a logically sequenced program of transformational career preparation. Elon Law’s groundbreaking approach is accomplished in 2.5 years, which provides distinctive value by lowering tuition costs and allowing graduates to quickly enter their legal careers.

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Income Investors Should Know Hess Midstream LP (NYSE:HESM) Goes Ex-Dividend Soon https://upbeetcommunications.com/income-investors-should-know-hess-midstream-lp-nysehesm-goes-ex-dividend-soon/ Sat, 30 Jul 2022 19:19:46 +0000 https://upbeetcommunications.com/income-investors-should-know-hess-midstream-lp-nysehesm-goes-ex-dividend-soon/ Hess Midstream LP (NYSE:HESM) The stock is set to trade ex-dividend in 3 days. The ex-dividend date occurs one day before the record date which is the day shareholders must be on the books of the company to receive a dividend. The ex-dividend date is important because the settlement process involves two full business days. […]]]>

Hess Midstream LP (NYSE:HESM) The stock is set to trade ex-dividend in 3 days. The ex-dividend date occurs one day before the record date which is the day shareholders must be on the books of the company to receive a dividend. The ex-dividend date is important because the settlement process involves two full business days. So if you miss this date, you will not be on the company’s books as of the record date. In other words, investors can buy Hess Midstream shares before August 3 in order to be eligible for the dividend, which will be paid on August 12.

The company’s next dividend payment will be $0.56 per share. Last year, in total, the company distributed US$2.22 to shareholders. Based on last year’s payouts, Hess Midstream has a 7.3% yield on the current share price of $30.42. We love to see companies pay out a dividend, but it’s also important to make sure that laying the golden eggs doesn’t kill our golden hen! That’s why we always have to check if the dividend payouts seem sustainable and if the business is growing.

Dividends are usually paid out of company profits, so if a company pays out more than it has earned, its dividend is usually at risk of being reduced. Hess Midstream paid out 110% of its profits, which is more than we’re happy with, barring extenuating circumstances. A useful secondary check may be to assess whether Hess Midstream has generated sufficient free cash flow to pay its dividend. Fortunately, it only paid out 7.8% of its free cash flow last year.

It’s good to see that even though Hess Midstream’s dividends weren’t covered by earnings, they are at least affordable from a cash-flow perspective. Still, if the company repeatedly pays out a dividend that exceeds its earnings, we’d be concerned. Very few companies are able to sustainably pay dividends above their reported earnings.

Click here to see the company’s payout ratio, as well as analysts’ estimates of its future dividends.

NYSE: Historic HESM dividend July 30, 2022

Have earnings and dividends increased?

Companies with strong growth prospects are generally the best dividend payers because it is easier to increase dividends when earnings per share improve. If earnings fall enough, the company could be forced to cut its dividend. That’s why it’s a relief to see that Hess Midstream’s earnings per share have grown 5.7% annually over the past five years.

Many investors will gauge a company’s dividend yield by evaluating how much dividend payouts have changed over time. Since our data began five years ago, Hess Midstream has increased its dividend by around 13% per year on average. It’s encouraging to see the company increasing its dividends as earnings rise, suggesting at least some corporate interest in rewarding shareholders.

The essential

Should investors buy Hess Midstream for the next dividend? Earnings per share rose slightly and last year Hess Midstream paid out a small percentage of its cash flow. However, its dividend payments were not well covered by earnings. All in all, not a bad combination, but we believe there are probably more attractive dividend prospects.

While you’re not overly concerned about Hess Midstream’s ability to pay dividends, you should still keep in mind some of the other risks this company faces. Every business has risks, and we’ve spotted 2 warning signs for Hess Midstream (1 of which is a little unpleasant!) that you should know about.

As a general rule, we don’t recommend simply buying the first dividend-paying stock you see. Here is a curated list of attractive stocks that are strong dividend payers.

Feedback on this article? Concerned about content? Get in touch with us directly. You can also email the editorial team (at) Simplywallst.com.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Altria’s $13 billion investment in Juul has lost 95% of its value https://upbeetcommunications.com/altrias-13-billion-investment-in-juul-has-lost-95-of-its-value/ Thu, 28 Jul 2022 12:34:19 +0000 https://upbeetcommunications.com/altrias-13-billion-investment-in-juul-has-lost-95-of-its-value/ Juul branded vape cartridges are for sale at a store in Atlanta, Georgia. Elie Nouvelage | Reuters Cigarette maker Altria’s $13 billion investment in struggling vaping company Juul has gone up in smoke – it’s now worth less than 5% of its original value as US regulators ban its e-cigarettes. Altria wrote down the value […]]]>

Juul branded vape cartridges are for sale at a store in Atlanta, Georgia.

Elie Nouvelage | Reuters

Cigarette maker Altria’s $13 billion investment in struggling vaping company Juul has gone up in smoke – it’s now worth less than 5% of its original value as US regulators ban its e-cigarettes.

Altria wrote down the value of its Juul investment by more than $1.1 billion on Thursday, setting its new value at $450 million as it reported second-quarter results. The Marlboro maker had recently valued its stake in the company at a significantly reduced $1.6 billion.

Despite the losses, Altria said it would maintain its investment agreement with Juul, including an agreement not to sell competing vaping products.

“At this time, we continue to believe that these investment rights benefit us,” Altria said in a prepared statement.

Altria, based in Richmond, Va., is the largest investor in Juul with a 35% stake. Altria executives signed the $12.8 billion pact in 2018, betting that popular Juul vaping devices were a lucrative alternative to tobacco products.

Last month, however, the US Food and Drug Administration announced plans to ban small cartridge e-cigarettes, saying Juul had failed to provide key information about potentially harmful chemicals in its juice. nicotine formula. The decision surprised observers and industry experts given that the FDA has cleared several competing e-cigarettes and Juul has spent years collecting data to back up its application.

In another twist of the company’s fortunes, the FDA reopened its review of Juul’s application earlier this month after a federal court blocked the ban from taking effect immediately. For now, Juul is able to continue selling its products while the FDA review continues.

The Juul decision is part of an extensive FDA review of all US e-cigarettes aimed at eliminating those that have not been shown to help smokers cut down or quit smoking.

Juul rose to the top of the US vaping market five years ago thanks to the popularity of flavors like mango, mint and crème brûlée. But the company’s rise was fueled by use by underage teenagers who became addicted to Juul’s high-nicotine pods.

As of 2019, the company has been on the back foot: halting all advertising in the United States, dropping most of its flavors, and rebranding itself as a product for older smokers looking to ditch traditional cigarettes.

The blow to Juul contributed to a nearly 60% decline in Altria’s quarterly profit of 49 cents per share.

Excluding Juul and other one-time expenses, the company’s adjusted earnings were $1.26 per share, just ahead of Wall Street estimates. Six analysts polled by Zacks Investment Research had expected earnings of $1.25 per share.

Net revenue fell nearly 6% to $6.5 billion due to lower sales of cigarettes and other company flagship products. The Company’s brands include Parliament and Marlboro cigarettes, Black and Mild cigars and Skoal chewing tobacco.

Altria, the country’s largest cigarette maker, has tried to diversify its product offerings into vaping and nicotine pouches as traditional tobacco use continues to fade.

Smoking has been declining for more than five decades. Some 42% of American adults smoked in the early 1960s. This figure had fallen to less than 13% in the latest report from the Centers for Disease Control and Prevention

For the full year, Altria said it expects earnings of between $4.79 and $4.93 per share.

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The Future is Here – Hawaii Business Magazine https://upbeetcommunications.com/the-future-is-here-hawaii-business-magazine/ Tue, 26 Jul 2022 00:42:55 +0000 https://upbeetcommunications.com/the-future-is-here-hawaii-business-magazine/ Leaders can come from anywhere in an organization, and building a modern, high-performing workforce starts with the CEO. Their commitment to living the values ​​of the organization encourages others to become effective leaders. Photo: Aaron Yoshino After the President of First Hawaiian Bank, President and CEO Bob Harrison kicked off the 9th edition Business in […]]]>
Leaders can come from anywhere in an organization, and building a modern, high-performing workforce starts with the CEO. Their commitment to living the values ​​of the organization encourages others to become effective leaders.
Photo: Aaron Yoshino

After the President of First Hawaiian Bank, President and CEO Bob Harrison kicked off the 9th edition Business in Hawaii Leadership Conference with opening comments on leadership and Hawaii’s ever-changing business environment, he joined Servco Pacific President Rick Ching and Howard Hughes Corporation Hawaii President Doug Johnstone, on stage for the opening session of the conference: “This is the future you need to prepare for.” Moderated by Business in Hawaii Editor-in-Chief Steve Petranik, these three inspiring leaders discussed the importance of retaining talent, company culture, experimentation and failure, remote work and building a program valuable.

Petranik led every discussion on the subject by offering a noteworthy quote for C-suite executives to discuss in depth. “A strong company culture is built on trust,” Harrison said, “We want to work hard and play hard with each other. Trust comes from a willingness to step up and help, even when it’s not It’s not your job, which creates a better organization where people want to work.

Hb2207 Ay Leadership Conference 2022 Bob Harrison Doug Johnstone

Photo: Aaron Yoshino

The group agreed that with the increasing opportunities for remote work, today’s employee does not want to be micromanaged, but appreciates the flexibility of collaborating with colleagues in an environment that allows them to perform at their best. capacities. Leaders can come from anywhere in an organization, so the secret to developing a successful modern workforce begins with the CEO and their commitment to living the organization’s culture and values ​​to encourage other effective leaders. With the pandemic forcing businesses to test new processes and procedures that had never been put in place before, the importance of allowing people and teams to fail, learn and adapt became a top priority. .

Hb2207 Ay Leadership Conference 2022 Rick Ching Steve Petranik

Photo: Aaron Yoshino

“When it comes to building a better future in Hawaii, we have to decide what kind of jobs we want to create and what kind of society to support,” Harrison said during the panel’s audience question portion. “And we’re not going to accomplish that by doing the same things we’re doing now. We need to practice self-assessment, confront difficult questions, and bring flexibility to our core beliefs.


999 Bishop Street, Honolulu, Hawaii 96813
www.fhb.com

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ICICI Prudential is on track to achieve new business value of Rs 2,560 crore in FY23 https://upbeetcommunications.com/icici-prudential-is-on-track-to-achieve-new-business-value-of-rs-2560-crore-in-fy23/ Sun, 24 Jul 2022 11:22:41 +0000 https://upbeetcommunications.com/icici-prudential-is-on-track-to-achieve-new-business-value-of-rs-2560-crore-in-fy23/ Private insurer ICICI Prudential Life said it was on track to meet its target of doubling the value of new business to Rs 2,560 crore this financial year from levels in financial year 2019. Management’s optimism to achieve the target it set at the start of FY 2019, when the value of its new business […]]]>

Private insurer ICICI Prudential Life said it was on track to meet its target of doubling the value of new business to Rs 2,560 crore this financial year from levels in financial year 2019.

Management’s optimism to achieve the target it set at the start of FY 2019, when the value of its new business (VNB) stood at Rs 1,328 crore, stems from VNB growth. much more than expected recorded in the first quarter at Rs 471 crore, 31.7% higher than a year ago, when it was only Rs 358 crore.

VNB is a key profitability measure in the life insurance industry because life insurance is a long-term business unlike general insurance which is a one-year commitment. So, VNB means the future benefit of a life insurance policy written now. The higher the VNB margin, the better a company’s profitability will be. This is calculated by dividing the NAV by the annualized premium equivalent or the regular premium plus 10% of the single premium.

Having already grown so much in the first quarter, the company now needs to grow at a lower rate of 22.5% just to meet the target, management said.

“We ticked all four boxes in the June quarter. Our 4P strategy, launched in fiscal 2019, of focusing on premium growth, products especially on the protection side, improving of persistence and improved productivity, is operating as planned and we’re on track to achieve our aspiration to achieve the target set in FY2019 of doubling VNB to Rs 2,650 crore this FY from Rs 1,328 crore then,” NS Kannan, Managing Director and Managing Director, told PTI in a recent interview.

Having already increased VNB by just under 32% in the first quarter, this gives the company comfort in hitting the target at a much lower quarterly run rate of 22.5% now, a- he explained and asserted that the strong 31.6% VNB growth was driven by a robust 24.7% growth in APE and the overall figures show the success of our 4P strategy.

The first quarter was exceptionally good due to the sharp drop in Covid claims which fell to a trickle of Rs 16 crore from almost Rs 500 crore a year ago, leaving it bleeding Rs 186 crore. Another catalyst was the improved retention rate which jumped to 85%, Kannan said.

The persistence ratio, a measure of customer confidence and business quality, improved in the first quarter across all cohorts and the key ratio at month 13 was 85.5%. While bonus income increased 25%, the productivity component also contributed to an overall improvement of 4 percentage points, Kannan said.

The quarter also saw the company become the largest among its peers in terms of new sum assured business at Rs 2.21 lakh crore and with a market share of 15.8% in the benchmark quarter, compared to 14 .7% a year ago.

VNB margin climbed 31% from 29.4% YoY, driven by 24.7% growth in APE (Annualized Premium Equivalent) to Rs 1,520 crore, while its annuity APE increased by 69% to Rs 98 crore. , CFO Satyan Jambunathan said in the interview.

From a product perspective, he said savings increased by 22.4% to Rs 1,092 crore, protection increased by 22.2% to Rs 330 crore, annuity jumped by 69% to Rs 98 crore and the new business had received an improved premium of 24.4 percent. at Rs 3,184 crore.

Assets under management increased by 3.1% to reach 2,30,072 crores.

“Going forward, I see more traction for protection given the massive under-penetration and pandemic-induced security scare. Currently, this segment brings us 21% of revenue, up from 17% over the past from FY22 and I see that growing to 23-25% in the medium term,” Kannan said.

He also hailed the growth target set by new Irdai Chairman Debasish Panda to increase insurance penetration by doubling sales, saying this will usher in sustainable growth for the industry.

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Loans could burn start-up workers in downturn https://upbeetcommunications.com/loans-could-burn-start-up-workers-in-downturn/ Fri, 22 Jul 2022 04:00:06 +0000 https://upbeetcommunications.com/loans-could-burn-start-up-workers-in-downturn/ SAN FRANCISCO — Last year Bolt Financial, a payments startup, launched a new program for its employees. They owned stock options in the company, some of which were worth millions of dollars on paper, but couldn’t touch that money until Bolt was sold or made public. So Bolt began giving them loans — some running […]]]>

SAN FRANCISCO — Last year Bolt Financial, a payments startup, launched a new program for its employees. They owned stock options in the company, some of which were worth millions of dollars on paper, but couldn’t touch that money until Bolt was sold or made public. So Bolt began giving them loans — some running into the hundreds of thousands of dollars — against the value of their shares.

In May, Bolt laid off 200 workers. This triggered a 90-day period for those who had taken out the loans to repay the money. The company tried to help them find refund options, said a person with knowledge of the situation who spoke anonymously because the person was not authorized to speak publicly.

Bolt’s program was the most extreme example of a burgeoning ecosystem of loans for workers at private tech start-ups. In recent years, companies such as Quid and Secfi have sprung up to offer loans or other forms of financing to start-up employees, using the value of their private company’s shares as a kind of collateral. These providers estimate that employees of startups around the world have at least $1 trillion in equity to lend.

But as the start-up economy deflates, rocked by economic uncertainty, soaring inflation and rising interest rates, Bolt’s situation serves as a warning about the precariousness of such loans. While most are structured to be forgiven if a startup fails, employees could still face a tax bill because loan forgiveness is treated as taxable income. And in situations like Bolt’s, loans can be difficult to repay on short notice.

“No one has thought about what happens when things go wrong,” said Rick Heitzmann, investor at FirstMark Capital. “Everyone thinks only of advantage.”

The proliferation of such loans has sparked a debate in Silicon Valley. Proponents said the loans were necessary for employees to participate in the technology’s wealth-building engine. But critics said the loans created unnecessary risk in an already risky industry and brought to mind the dot-com era of the early 2000s, when many tech workers were badly burned by loans tied to their stock- options.

Ted Wang, a former startup lawyer and investor at Cowboy Ventures, was so alarmed by the loans that he published a 2014 blog post, “Playing With Fire,” advising most people against them. Wang said he gets a new round of calls about loans every time the market heats up and he always feels pressured to explain the risks.

“I saw it go wrong, very wrong,” he wrote in his blog post.

Start-up loans stem from how workers are typically paid. As part of their compensation, most employees of private technology companies receive stock options. Options must eventually be exercised, or purchased at a fixed price, to hold the shares. Once someone owns the shares, they usually can’t cash them in until the startup goes public or is sold.

This is where loans and other financing options come in. Seed shares are used as collateral for these cash advances. The loan structure varies, but most providers charge interest and take a percentage of the worker’s stock when the business sells or goes public. Some are structured as contracts or investments. Unlike the loans offered by Bolt, most are known as “non-recourse” loans, meaning employees aren’t required to repay them if their stock loses value.

This lending industry has exploded in recent years. Many providers were created in the mid-2010s as hot start-ups like Uber and Airbnb postponed initial public offerings of shares for as long as they could, reaching private market valuations in the tens of billions. of dollars.

This meant that many of their workers were bound in “golden handcuffs”, unable to quit their jobs because their stock options had become so valuable they could not afford to pay the taxes, based on the current market value, to exercise them. Others have grown tired of sitting on options waiting for their business to go public.

The loans gave the start-up employees cash to use in the meantime, including money to cover the costs of purchasing their stock options. Even so, many tech workers still don’t understand the intricacies of equity compensation.

“We work with super-smart computer science graduates from Stanford, but no one explains to them,” said Oren Barzilai, chief executive of Equitybee, a site that helps start-ups find investors for their shares.

Secfi, a provider of financing and other services, has now issued $700 million in cash financing to startup workers since opening in 2017. Quid has issued hundreds of millions of loans and other financing to hundreds of people since 2016. Its latest $320 million fund is backed by institutions including Oaktree Capital Management, and it charges those who take loans origination fees and interest.

So far, less than 2% of Quid’s loans have been underwater, meaning the market value of the stock has fallen below that of the loan, said Josh Berman, one of the founders of Quid. the society. Secfi said 35% of its loans and funding had been fully repaid and its loss rate was 2-3%.

But Frederik Mijnhardt, chief executive of Secfi, predicted the next six to 12 months could be tough for tech workers if their stock options lost value in a downturn, but they took out loans at a higher value.

“Employees could face a settling of scores,” he said.

These loans have become more popular in recent years, said JT Forbus, an accountant at Bogdan & Frasco who works with start-up employees. One of the main reasons is that traditional banks do not lend from the equity of a start-up. “There are too many risks,” he said.

Startup employees pay $60 billion a year to exercise their stock options, Equitybee estimates. For various reasons, including the impossibility of affording them, more than half of the options issued are never exercised, which means that the workers give up part of their remuneration.

Mr. Forbus said he had to carefully explain the terms of these agreements to his clients. “The contracts are very difficult to understand and they don’t really play on the math,” he said.

Some start-up workers regret taking out loans. Grant Lee, 39, spent five years working at software start-up Optimizely, racking up stock options worth millions. When he left the company in 2018, he had the choice of buying his options or giving them up. He decided to exercise them by taking out a $400,000 loan to help pay the costs and taxes.

In 2020, Optimizely was acquired by Episerver, a Swedish software company, for less than its last private valuation of $1.1 billion. This meant that stock options held by employees with the highest valuation were worth less. For Mr. Lee, the value of his Optimizely stock fell below that of the loan he had taken out. Although his loan was forgiven, he still owed about $15,000 in taxes, as the loan cancellation is considered taxable income.

“I received nothing, and on top of that I had to pay taxes for having nothing,” he said.

Other companies use the loans to give their workers more flexibility. In May, Envoy, a San Francisco startup that makes work software, used Quid to offer non-recourse loans to dozens of its employees so they could then get cash. Envoy, which was recently valued at $1.4 billion, hasn’t encouraged or discouraged people from taking out loans, said Larry Gadea, the chief executive.

“If people believe in the business and want to double down and see how much better they can do, that’s a great option,” he said.

During downturns, loan terms can become more onerous. The IPO market is frozen, pushing potential gains farther into the future, and the depressed stock market means the shares of private start-ups are likely worth less than they were during good times, in especially over the past two years.

Quid is adding more underwriters to help find the appropriate value for the seed stock it lends to. “We are more conservative than in the past,” Berman said.

Bolt appears to be a rarity in that it offered high-risk personal recourse loans to all of its employees. Ryan Breslow, the founder of Bolt, announced the program with a congratulations flourish on twitter in February, writing that it showed that “we simply care more about our employees than most.”

The company’s program was intended to help employees afford to exercise their shares and reduce taxes, he said.

Bolt declined to comment on the number of laid-off employees who had been affected by loan repayments. It offered employees the choice of returning their start-up shares to the company to repay their loans. Business Insider reported earlier on the offer.

Mr Breslow, who resigned as chief executive of Bolt in February, did not respond to a request for comment on the layoffs and loans.

In recent months, he helped found Prysm, a provider of non-recourse loans for seed capital. In pitch materials sent to investors and viewed by The New York Times, Prysm, which did not respond to a request for comment, announced that Mr. Breslow was its first client. Borrowing against the value of his shares in Bolt, according to the presentation, Mr. Breslow took out a $100 million loan.

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MAKER Mara Bralove knows the value of listening https://upbeetcommunications.com/maker-mara-bralove-knows-the-value-of-listening/ Tue, 19 Jul 2022 21:06:59 +0000 https://upbeetcommunications.com/maker-mara-bralove-knows-the-value-of-listening/ Known for her generosity of spirit and her time mentoring others, especially women, Mara is the “go-to mentor” for early-career women at her complex, including summer interns and research analysts. full-time branch. It’s one of the many reasons she was named a Morgan Stanley MAKER, joining a distinguished group of women and men, all nominated […]]]>

Known for her generosity of spirit and her time mentoring others, especially women, Mara is the “go-to mentor” for early-career women at her complex, including summer interns and research analysts. full-time branch. It’s one of the many reasons she was named a Morgan Stanley MAKER, joining a distinguished group of women and men, all nominated by their peers, to have served as advocates, pioneers and innovators for the advancement of women. She calls it “an incredible honor and pleasure to be recognized for something that is important to me, that helps women succeed.”

She has also received other accolades including the President’s Club Community Leader Award and the 2021 Invest in Others Award for her community involvement, including serving on the board of directors of Imagination Stage, a children’s theater in Bethesda. , and Theater J, a nationally recognized Jew. theater in DC She was named to the Forbes list of Top Wealth Advisors in America, Top Women Wealth Advisors in America and Top 200 Women Wealth Advisors in America. She is also on working mother list of the best wealth advisor moms.

The key to her success has been “authenticity,” she says. “I genuinely care about our clients and genuinely care about their lives. I like to learn about people.

Among her greatest joys is motherhood and the bond between the sons, Elie, 14, and Félix, 11. “They really support each other,” says Mara, who enjoys spending time with her boys and her husband, Ari, especially outdoors, hiking. and draw inspiration from nature.

High on her list of daily inspirations are “the many women here at the firm,” she says. “I feel incredibly lucky to have had mentors I could call on anytime. I learned so much from how they treat others and run their practices. The women at Morgan Stanley are truly remarkable.

Morgan Stanley offers a wide range of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult your financial advisor to understand these differences.

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Talent War – The Perks Ad Industry Professionals Are Really Looking For https://upbeetcommunications.com/talent-war-the-perks-ad-industry-professionals-are-really-looking-for/ Sun, 17 Jul 2022 20:44:49 +0000 https://upbeetcommunications.com/talent-war-the-perks-ad-industry-professionals-are-really-looking-for/ Source: Wesley Tingey via Unsplash Agencies go to great lengths to sway talent and upstage their competitors with lavish workplace perks, but what does it really matter to workers? As long as talent is in high demand, workers don’t have to settle for junk pay, unsociable work hours, and a lack of career growth. Agencies […]]]>

Source: Wesley Tingey via Unsplash

Agencies go to great lengths to sway talent and upstage their competitors with lavish workplace perks, but what does it really matter to workers?

As long as talent is in high demand, workers don’t have to settle for junk pay, unsociable work hours, and a lack of career growth. Agencies risk losing employees willing to make better offers.

LinkedIn Chief Economist Karin Kimbrough said: “Companies need to recognize that the power dynamics have changed – workers are going to demand more of them on many fronts.

“Applicants are much more selective about where they work and workers are more vocal about what they want.”

Although more than a third (35%) of employers are improving their benefits this year and experimenting with industry-first initiatives – from four-day work weeks to NFT compensation and allowing staff to choose their own holiday dates .

Recruiters overwhelmingly claim that flexibility is the number one driver for workers when choosing their next position.

james macdonalddirector, NewyTechPeople // RemoteTechPeople, said AdNews“In the recent talent shortage, flexibility is no longer an advantage, it is now a necessity.

“A business offering flexibility by starting an hour earlier and ending early is no longer considered flexibility.

“If your company doesn’t offer true flexibility, you’ll struggle to attract top talent – true flexibility means the employee has a say in in-office or remote days, start times, and flexibility in the day to exercise / pick up the kids / run errands / ect.

“The pandemic has shown that most roles in technology and the digital space can be done remotely, at least some of the time. If some form of remote control isn’t offered, it’s a no-start for most digital professionals.”

These claims are backed up by LinkedIn’s Workforce Trust Survey. More than half of respondents (55%) ranked the four-day working week as the best option and flexible working arrangements emerged as a priority among workers overall, with 63% ranking it among their first three.

Other options were significantly less popular, with just 16% valuing free mental health benefits or the option of taking a paid sabbatical, and just 7% prioritizing help with childcare. children.

SEEK’s research also showed that work-life balance was the top priority for many Australian workers, with working hours or flex time ranking second, ahead of salary and compensation.

Melanie GillamSenior Consultant, NewyTechPeople & RemoteTechPeople said AdNews“Flexibility is still the key driver for most candidates we speak with, but as people adjust to post-lockdown work life, the most coveted part of flexibility is autonomy.

“Some people prefer to work remotely, others tend to be hybrid and on the other scale people want to be in the office.

“There is a massive drive to make the workplace more attractive and the key to that is flexibility and accommodating individual preferences.

“Giving employees the autonomy to decide how, where and when they work engenders a sense of confidence and autonomy.

“Candidates come to us with a clear understanding of their definition of work/life balance. Savvy employers understand that meeting these expectations can be good business.

Does money speak to everyone?

There’s no one-size-fits-all approach to workplace benefits, as value is based on the individual evaluating an offer, but money has always been a priority, right?

James MacDonald of NewyTechPeople // RemoteTechPeople, said, “No matter how good the benefits are, people will shop around and be much more aware of what the general market is paying for.

“Companies won’t be able to attract top talent by paying significantly below market rate or trying to undermine someone at the offer stage.

“In our experience, the best way to build successful teams is to pay market rate or slightly above and work with the individual on the benefits and flexibility that are important to them.

“It’s also important to make sure you have a healthy company culture and clear career paths.

“Competing on salary alone is a very expensive and dangerous way to build teams – if people are there just because you pay the most, what happens when they’re tapped on the shoulder with an offer higher ?”

Sue Parkercareer marketing and job search strategist at DARE Group Australia said AdNews“My personal recommendation is that every job posting lists the salary because candidates are tired of the lack of transparency.

“Also, pay what the role is worth and what the responsibilities demand – this will help build trust and align candidate expressions of interest.”

Jade Leecompany culture and engagement specialist, said AdNews“Wages are going up but that’s not the reason why people are going to leave a company.

“Instead, candidates are looking for a better culture, more interesting work and to feel valued. A sense of belonging and a strong company culture are highly sought after.”

Social and environmental responsibility is a growing demand

In a world hyper-alert to the pandemic, world wars and social injustices, the way candidates review their careers and employers have evolved holistically.

With 75% of existing and potential employees preferring to work for companies that have a strong social conscience.

James MacDonald of NewyTechPeople // RemoteTechPeople, said: “The growing trend we’re seeing is of professionals looking for companies that have strong corporate social responsibility or an opportunity to work with companies that are doing well by the environment or causes important to the individual.

“Companies that have a strong social awareness aspect should lean heavily into it when attracting talent.”

Sue Parker of DARE said: “The social responsibility part of the ESG (environment, social and governance) equation has taken center stage, and climate change often sits beside the assessment process.

“Candidates not only assess roles and career paths, but also the values ​​and missions of board members and leaders.

“It’s the personal brand values ​​that leaders embrace and adhere to that have a significant impact on choosing a new employer for many candidates and they want to see leaders engaging on social media.”

What advice do the experts have for agencies?

Ryan WattsMarketing Talent Agent @ Aquent Australia: “It’s not all bleak, there are ways to make your business stand out while finding amazing talent:

“Offer a competitive package – it can be a solid base salary + great + bonuses + perks. In the end it can be whatever it takes, just make your offer irresistible and candidates will come knocking on the door.

“Be transparent about salary – if you wait until the offer stage to discuss salary, you’re going to have a terrible time. Discuss salary upfront so you and the candidate are on the same length of wave right from the start. I can’t stress this enough.

“Offer flexible working – 2% of professionals want to be in the office full time. If you don’t offer flexible working, don’t expect to attract talent.

“Make it a quick recruitment process – 2-3 interviews max!” Don’t drag out the process for several weeks. Be thorough, but be decisive.

“Bring your A-game to interviews – talent also interviews you, so if you don’t make the candidate feel welcome or excited about the role, they won’t want to work for you.”

Do you have anything to say about this? Share your opinions in the comments section below. Or if you have any news or a tip, email us at adnews@yaffa.com.au

Sign up for the AdNews newsletter, like us on Facebook or follow us on Twitter to break stories and campaigns throughout the day.

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Trump to face sworn deposition in New York trial as legal troubles mount | donald trump https://upbeetcommunications.com/trump-to-face-sworn-deposition-in-new-york-trial-as-legal-troubles-mount-donald-trump/ Fri, 15 Jul 2022 07:46:00 +0000 https://upbeetcommunications.com/trump-to-face-sworn-deposition-in-new-york-trial-as-legal-troubles-mount-donald-trump/ The New York Attorney General’s office is expected to begin questioning Donald Trump and two of his children over allegations of financial fraud today after the former president failed in his legal attempt to block what he called a ” politically motivated witch hunts. Trump and his two eldest children, Ivanka and Donald Jr, were […]]]>

The New York Attorney General’s office is expected to begin questioning Donald Trump and two of his children over allegations of financial fraud today after the former president failed in his legal attempt to block what he called a ” politically motivated witch hunts.

Trump and his two eldest children, Ivanka and Donald Jr, were summoned to give sworn depositions after state Attorney General Letitia James said a three-year civil investigation had uncovered evidence that the he Trump organization routinely inflated the value of properties, including office buildings, apartment buildings and golf courses, in order to obtain loans at favorable rates and obtain tax advantages.

The AG’s office alleges that former President Trump Tower’s apartment building was recorded as being three times larger than it actually was in connection with the fraud.

The process of taking depositions in Manhattan State Supreme Court is expected to continue next week. It’s not immediately clear what day the former president will be questioned, but Trump’s lawyer said he will invoke his constitutional right against self-incrimination and refuse to answer questions.

The case adds to a series of legal issues for Trump, including the possibility of criminal charges for tax evasion. The Trump Organization and its longtime chief financial officer, Allen Weisselberg, are set to stand trial later this year on tax evasion charges following a parallel investigation by the Manhattan District Attorney’s Office.

A view of Trump Tower in New York. Photograph: Justin Lane/EPA

Additionally, the House committee investigating the Jan. 6 Capitol storming said there is enough evidence to conclude that the former president and some of his allies committed crimes in his attempts to cancel the 2020 presidential election.

Prosecutors in Atlanta, Georgia, have convened a grand jury to determine whether Trump broke state law by trying to stop election officials from declaring Joe Biden won the state. Earlier this month, the grand jury subpoenaed US Senator Lindsey Graham and Trump attorney Rudy Giuliani in connection with the criminal investigation.

The Trump Organization also faces trial later this month for an assault by its security guards on protesters over the then-presidential candidate’s racist attack on Mexicans in 2015. Trump has denied ordering aggression.

Trump lost a series of court cases that tried to overturn the New York civil investigation as politically motivated and then avoid testifying.

A lawyer from the attorney general’s office told a judge there was enough evidence to support a lawsuit against the former president and his company, but no decision had been made on the prosecution. If James pursues the case and wins, she could seek a winding up order from the Trump Organization.

Trump and his three children have also been summoned to give depositions next month in a class action lawsuit brought by people who say they were tricked into investing in companies Trump was paid to endorse his program, Celebrity Apprentice. . “The Trumps defrauded each of these victims into giving up hundreds or thousands of dollars — losses that many experienced as devastating and heartbreaking,” the lawsuit alleges.

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Eastern Nazarene College Announces New Partnership with Sodexo https://upbeetcommunications.com/eastern-nazarene-college-announces-new-partnership-with-sodexo/ Wed, 13 Jul 2022 13:05:22 +0000 https://upbeetcommunications.com/eastern-nazarene-college-announces-new-partnership-with-sodexo/ Eastern Nazarene College has entered into a 10-year partnership with Sodexo, a food service and facilities management company, to deliver a premier catering program and facilities management on campus beginning in fall 2022. “Excellence in dining services is fundamental to a vibrant student experience,” said Dr. Ian Slater, Vice President for Student Development. “Sodexo’s professionalism, […]]]>

Eastern Nazarene College has entered into a 10-year partnership with Sodexo, a food service and facilities management company, to deliver a premier catering program and facilities management on campus beginning in fall 2022.

“Excellence in dining services is fundamental to a vibrant student experience,” said Dr. Ian Slater, Vice President for Student Development. “Sodexo’s professionalism, commitment to quality and excellence in customer service will be a game-changer for our students and our community.”

As part of this partnership, Sodexo will create a new menu program for our campus, introduce a new look to the cafeteria space, add technology options including mobile ordering options, expand menu options at Hebrews and The Dugout, and will develop a clean eating program for students with dietary restrictions. A Sodexo registered dietitian will provide periodic consultations and workshops for ENC students. To support ENC’s commitment to career readiness (enc.edu/elevate), Sodexo will implement a professionalized training program for all students and provide employment and internship opportunities.

“Sodexo is delighted and proud to enter into a long-term partnership with ENC for both catering and facilities services. We believe this is a mutually beneficial relationship where our respective institutional values, mission and vision intersect in a way that will ultimately lead to a rewarding academic experience for ENC students,” said Mike Ward, Senior Vice President of Sodexo. “Sodexo looks forward to working with our Eastern Nazarene partners and bringing rejuvenated spaces and authentic, quality experiences to the ENC community.

Sodexo will also oversee the management of ENC’s facilities, including custodial services, grounds maintenance and building management. To support the overall transformation of campus infrastructure, Sodexo will conduct an industry-leading comprehensive Facility Condition Assessment (FCA) to help maximize ENC’s comprehensive management of buildings, grounds, campus equipment and assets. This assessment is critical to the success of budgeting and planning efforts.

“We know that the quality of the facilities and the general condition of the campus grounds, buildings and physical infrastructure not only have a direct impact on the decision of future students to attend ENC, but also contribute to retention. students. It is therefore essential to have an impact and improve the spaces where students eat, play and learn,” said Tiffany Williams, Vice President of Operations, University Facilities is for Sodexo. “We are proud to work with all of our facilities, food service associates and technicians to improve the quality of life for students, facilities, staff, administrators and the ENC community as a whole.”

About Eastern Nazarene College: Located just south of Boston on the historic South Shore, our private four-year liberal arts college has over 50 majors and continues to be recognized as one of the New England’s most affordable. Our diverse yet tight-knit campus offers every student the opportunity to excel in a Christian community of caring peers and faculty who are truly invested in the academic and spiritual transformation of their students. Learn more at enc.edu.

About Sodexo North America: Sodexo Universities provides catering, accommodation and facilities management services to more than 600 universities, colleges and independent schools in the United States. With nearly 50 years of experience, Sodexo is focused on enhancing the student experience through integrated services that promote and enhance quality of life. For more information and to learn more about Sodexo’s commitment to quality of life on campus, visit the Sodexo Universities page on us.sodexo.com.

Sodexo North America is part of a global Fortune 500 company, present in 64 countries. Sodexo is a leading provider of integrated catering, facilities management and other services that improve organizational performance, contribute to local communities and improve the quality of life for millions of clients across corporate sectors. , education, healthcare, nursing homes, sports and recreation, government and other environments. Daily. The company employs 125,000 people at 8,000 locations in all 50 U.S. states and Canada, and indirectly supports tens of thousands more jobs through its annual purchases of $14 billion in goods and services from businesses large and small. companies. Sodexo is committed to supporting diversity, inclusion and safety, while upholding the highest standards of corporate responsibility and ethics.

conduct of business. In support of local communities across the United States, in 2020, the Sodexo Stop Hunger Foundation mobilized 10,000 Sodexo volunteers to distribute 4.1 million meals to help 5.9 million children and adults meet their immediate food needs. Since 1996, the Stop Hunger Foundation has donated $36.7 million to help feed hungry American children. To learn more about Sodexo, visit us.sodexo.com and join us on Facebook,Twitterand YouTube.

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