recentpopularlog in

jerryking : leverage   20

Wilbur Ross brings art of restructuring to Team Trump
JANUARY 21, 2017 | FT| by: Philip Delves Broughton.

“When you start out with your adversary understanding that he or she is going to have to make concessions, that’s a pretty good background to begin.”

So all this stuff about tariffs and walls and protectionism turns out to be pure gamesmanship.......In his career as an investment banker at NM Rothschild and then running his own business, WL Ross & Co, he has shown repeatedly how he can dive into an industrial dung heap and emerge with a fistful of dollars and not a speck on his silk tie......... Working on his own account, Mr Ross’s most famous deal was his purchase of an ailing group of US steelmakers in 2002, shortly before President George W Bush imposed tariffs on imports of steel. Mr Ross used the protection to fix the operations, cut debt and draft new contracts with workers. He was able to take the company public in 2003 and sell it two years later to the Indian steel mogul Lakshmi Mittal.

He has pulled off similar tricks, mostly successfully in coal mining, textiles and banking, immersing himself again and again in new industries and the minutiae of the laws, trade rules and contracts that govern them.

As a student at Harvard Business School, Mr Ross was mentored by Georges Doriot, a pioneering advocate for venture capital, who said: “People who do well in life understand things that other people don’t understand.”
For bothering to understand things that most people don’t, Mr Ross deserves more credit than he gets. He is often easily dismissed as a vulture or someone who buys low and sells high. But what he has done is hard. The devil in restructuring is in the grinding detail of voluminous contracts and difficult, often highly emotional negotiations.
contracts  Wilbur_Ross  negotiations  steel  Georges_Doriot  HBS  vulture_investing  sophisticated  bankruptcy  messiness  thinking_tragically  dispassion  preparation  leverage  emotions  Lakshmi_Mittal  moguls  restructurings  tariffs  imports  gamesmanship  unsentimental  hard_work  minutiae  protectionism  arcane_knowledge  inequality_of_information  Philip_Delves_Broughton  new_industries 
january 2017 by jerryking
What Can the Next President Do About Russia? - WSJ
By ROBERT D. KAPLAN
Updated Oct. 16, 2016

Of the two great autocratic powers in Eurasia, Russia is emerging as a greater short-term threat than China. The Chinese hope to gradually dominate the waters off the Asian mainland without getting into a shooting war with the U.S. Yet while Beijing’s aggression is cool, Moscow’s is hot....Russia’s economic situation is much worse than China’s, and so the incentive of its leaders to dial up nationalism is that much greater. But the larger factor, one that Western elites have trouble understanding, cannot be quantified: A deeply embedded sense of historical insecurity makes Russian aggression crude, brazen, bloodthirsty and risk-prone. ....How does the U.S. build leverage on the ground, from the Baltic Sea to the Syrian desert, that puts America in a position where negotiations with Russia can make a strategic difference?....

For without the proper geopolitical context, the secretary of state is a missionary, not a diplomat. ...In the cyber domain the U.S. has not sufficiently drawn red lines. What kind of Russian hacking will result in either a proportionate, or even disproportionate, punitive response? The Obama administration seems to be proceeding ad hoc, as it has done with Russia policy in general. The next administration, along with projecting military force throughout the Russian near abroad, will have to project force in cyberspace, too.
Russia  Vladimir_Putin  Robert_Kaplan  threats  deterrence  nationalism  Baltics  NATO  U.S.foreign_policy  leverage  geopolitics  log_rolling  diplomacy  realism  balance_of_power  realpolitik  cyber_warfare  autocracies  insecurity  hacking  maritime  punitive  retribution  retaliation  South_China_Sea  ad_hoc  red_lines  China  autocrats 
october 2016 by jerryking
One Firm Getting What It Wants in Washington: BlackRock - WSJ
By RYAN TRACY and SARAH KROUSE
Updated April 20, 2016

The Problem: BlackRock believed that the U.S. Federal Reserve was leaning towards designating it as a source of financial system risk, like other big banks, and as such, be “too big to fail”.

What Was At Stake: the designation “systemically important” would draw BlackRock in for greater oversight by the Federal Reserve which would mean tougher rules and potentially higher capital requirements from U.S. regulators.

The Solution: BlackRock didn't take any chances. The company began spending heavily on lobbying and engaging policymakers. Executives at the firm began preparing for greater federal scrutiny of their business in the months following the 2008 financial crisis. BlackRock aggressively prepared a counter-narrative upon discovered a Treasury Department’s Office of Financial Research report that asset-management firms and the funds they run were “vulnerable to shocks” and may engage in “herding” behavior that could amplify a shock to the financial system. The response took the form of a 40-plus-page paper rebutting the report. The firm suggested that instead of focusing on the size of a manager or fund, regulators should look at what specific practices, such as the use of leverage, might be the source of risks. While other money managers such as Fidelity and Vanguard sought to evade being labeled systemically important, BlackRock’s strategy stood out.
BlackRock  crony_capitalism  Washington_D.C.  risks  lobbying  too_big_to_fail  asset_management  advocacy  government_relations  influence  political_advocacy  policy  U.S._Federal_Reserve  systemic_risks  Communicating_&_Connecting  U.S.Treasury_Department  counternarratives  oversight  financial_system  leverage  debt  creating_valuable_content  think_differently  policymakers  policymaking 
april 2016 by jerryking
Ryan Seacrest: The Mogul Next Door - The New York Times
By GUY TREBAYDEC. 4, 2015

In a business organized almost exclusively around access and connections, it is surprising how few people incorporate the fleeting nature of fame into their career calculations or use their moment in the sun to build business opportunities, “Hollywood Game Night” being Exhibit A.

“Show business is what drives the other businesses,” said Mr. Seacrest, a consummate marketer, who looks upon his various day jobs, he said, as vehicles for the next cross-platform opportunity.

“In recent years, I don’t believe I’ve ever done anything on camera or on the microphone without thinking of the back-house opportunities and the next business play,” ....seeing everything I did as a course in the class of what to do next.”......“Ryan is a natural learner, always strategizing, always researching the next opportunity.”
next_play  Ryan_Seacrest  cross-platform  personal_branding  entrepreneur  entertainment  entertainment_industry  Hollywood  synergies  leverage  back-house_opportunities  side_hustles 
january 2016 by jerryking
With a Strategy Called Leveraged Buyouts, You Can Get a Company for 10% Down
July 1983 |Canadian Business | by Donald Hunter.

Increasingly, employees are executing leveraged buyouts of their companies. Such was the case when the managers of Doran's Northern Ontario Breweries Ltd. bought their company 6 years ago from Carling O'Keefe Ltd. to run it themselves. They raised C$1.5 million in share capital and borrowed CS3 million from banks. In a leveraged buyout. the buyers put up only a small part of the selling price; the rest is ñnanced with loans secured by company assets. Leveraged buyouts are also popular among professionals and entrepreneurs looking for investment opportunities that require a minimum of cash. Candidate companies favored by banks for leveraged buyouts have valuable assets. good management, steady earnings` and little or no debt. Before engaging in a leveraged buyout. as many costs as possible and seek outside help in structuring the deal. The benefits of leveraged buyouts are a chance for good returns and the satisfaction of running one's own business.
LBOs  employee-owned  employees  employee_ownership  leverage  buyouts 
january 2013 by jerryking
It’s Mitt’s World - NYTimes.com
September 4, 2012 | NYT | By THOMAS L. FRIEDMAN.

Since the end of the cold war, the world has become not just more interconnected but more interdependent, and this new structural reality requires a new kind of American leadership. Why?

In this increasingly interdependent world, your “allies” can hurt you as much as your “enemies.” After all, the biggest threats to President Obama’s re-election are whether little Greece pulls out of the euro zone and triggers a global economic meltdown or whether Israel attacks Iran and does the same.

In this increasingly interdependent world, your rivals can threaten you as much by collapsing as by rising. Think of what would happen to U.S. markets and jobs if China’s growth slowed to a crawl and there was internal instability there?

In this increasingly interdependent world, we have few pure “enemies” anymore: Iran, North Korea, Cuba, Al Qaeda, the Taliban. But we have many “frenemies,” or half friends/half foes. While the Pentagon worries about a war with China, the Commerce Department is trying to get China to buy more Boeing planes and every American university worth its salt is opening a campus in Beijing; meanwhile, the Chinese are investing in American companies left and right. President Hugo Chávez of Venezuela is the biggest thorn in America’s side in Latin America and a vital source of our imported oil. The U.S. and Russia are on opposing sides in Syria, but the U.S. supported Russia joining the World Trade Organization and American businesses are lobbying Congress to lift cold war trade restrictions on Russia so they can take advantage of its more open market....The best way for an American president to forge healthy interdependencies is, first, to get our own house in order and gain the leverage — in terms of resources and moral authority — that come from leading by example. For instance, Romney is right: there are unhealthy aspects to the U.S.-China interdependency that need working on, but they are not all China’s fault. We would have more leverage to build a more healthy relationship if we saved more, consumed less, studied harder and got our own banks to behave less recklessly.
Mitt_Romney  U.S.foreign_policy  interdependence  leadership  leverage  interconnections  networks  vulnerabilities  frenemies  Tom_Friedman 
september 2012 by jerryking
Key differences between hedge funds and private equity
Mar/Apr 2006 | The Secured Lender Vo|. 62, Iss. 2; pg‘ 26. 3 pgs| by Mark K Thomas. Peter J. Young.

The last few years have brought an explosion in the number and size of hedge funds. Additionally, recent deals by private equity funds are much larger than in the past and include taking publicly traded companies private. Although these funds do not represent long-term threats to each other, secured lenders must recognize that private equity and hedge funds have markedly different characteristics. goals and behaviors. Major differences between the two types of funds include: 1. time to hold. 2‘ liquidity and leverage, 3. strategic direction, 4. due diligence methodology. 5. risk tolerance, 6. mark to market, 7. desired return on investments. 8. control, 9. assessment of EBITDA, leverage, liquidity and other standard financial metrics. 10. industry focus, and 11. management fees. Knowing the major differences between the types of funds will enable a secured lender to anticipate behavior in transactions
involving both types of funds.
private_equity  hedge_funds  venture_capital  holding_periods  liquidity  leverage  due_diligence  risk-tolerance 
september 2012 by jerryking
Leveraged Buyouts
July 1983 | Canadian Business | by Donald Hunter
buyouts  leverage  financing  mergers_&_acquisitions  LBOs 
june 2012 by jerryking
UNPRECEDENTED VOLATILITY A HALLMARK OF AGRICULTURE’S NEW AGE
* Have a plan for the future – perhaps a surprise to some, but many farmers don’t have a plan in place that paints a vision for where they want to take their operation over the next 2, 5 and 10 years.
• Have credit in place before it is actually required – it is human nature to leave things to the last minute.
• Implement a sound hedging strategy – in addition to the system of crop insurance in place in this country, there are many ways that Canadian farmers can take actions to manage their risk. Diversifying into new businesses is one example.
• Well-managed risk can pay off – at the same time, taking on some risk that is prudent and ts the risk pro le of the farming operation can pay off handsomely for farmers. In such a volatile and fast paced environment, there are bound to be some buying and selling opportunities that open up. Knowing when to take advantage of them can separate successful farms with those that muddle along.
• Know your costs – many producers have a good sense of how their top line is performing. But it is just as impor-tant to have a good understanding of the cost side of the equation.
• Maintain adequate liquidity and reasonable leverage – in order to mitigate the risks associated with increasing asset prices, it would be prudent for farmers to ensure that they have sufficient liquidity and manageable leverage if they are expanding.
• Use reasonable interest rate assumptions in assessing investment opportunities – even though borrowing costs are unusually low, farmers must be mindful of the fact that this low-rate environment won’t last forever.
agriculture  uncertainty  volatility  farming  liquidity  leverage  hedging  futures_contracts  diversification  new_businesses  risks  risk-management  risk-taking  OPMA  WaudWare  interest_rates  vision  long-term  never_forever  business_planning  credit  costs  anticipating  risk-mitigation  low-interest  cost-consciousness 
may 2012 by jerryking
The Speechmaker: How Bill Gates Got Ready for Harvard - WSJ.com
June 8, 2007 (Link to Eric Reguly criticism of how Gates is addressing the problems of agriculture)

The Speechmaker: How Bill Gates Got Ready for Harvard
Warren Buffett Offered Tips on Delivery and Tone; A Dropout Gets a Degree By ROBERT A. GUTH

In the analytical style for which he became famous in high-tech circles, Mr. Gates recommended a four-point plan for attacking a complex problem: determine a goal, find the "highest-leverage approach," discover the ideal technology for that approach, "and in the meantime, make the smartest application of the technology that you already have."
public_speaking  speeches  preparation  billgates  Harvard  commencement  complexity  Microsoft  problem_solving  Communicating_&_Connecting  dropouts  leverage  complex_problems  return_on_effort 
may 2012 by jerryking
The New Cold War
May 14, 2008 | New York Times | By THOMAS L. FRIEDMAN.

The next president is going to be a cold-war president — but this cold war is with Iran...As the May 11 editorial in the Iranian daily Kayhan put it, “In the power struggle in the Middle East, there are only two sides: Iran and the U.S.”

For now, Team America is losing on just about every front. How come? The short answer is that Iran is smart and ruthless, America is dumb and weak, and the Sunni Arab world is feckless and divided...Ehud Yaari, one of Israel’s best Middle East watchers, calls “Pax Iranica.” In his April 28 column in The Jerusalem Report, Mr. Yaari pointed out the web of influence that Iran has built around the Middle East — from the sway it has over Iraq’s prime minister, Nuri al-Maliki, to its ability to manipulate virtually all the Shiite militias in Iraq, to its building up of Hezbollah into a force — with 40,000 rockets — that can control Lebanon and threaten Israel should it think of striking Tehran, to its ability to strengthen Hamas in Gaza and block any U.S.-sponsored Israeli-Palestinian peace.

“Simply put,” noted Mr. Yaari, “Tehran has created a situation in which anyone who wants to attack its atomic facilities will have to take into account that this will lead to bitter fighting” on the Lebanese, Palestinian, Iraqi and Persian Gulf fronts. That is a sophisticated strategy of deterrence...Alas, the right question for the next president isn’t whether we talk or don’t talk. It’s whether we have leverage or don’t have leverage.

When you have leverage, talk. When you don’t have leverage, get some — by creating economic, diplomatic or military incentives and pressures that the other side finds too tempting or frightening to ignore.
Lebanon  Iran  U.S.foreign_policy  Tom_Friedman  nuclear  Hezbollah  incentives  deterrence  Middle_East  Mideast_Peace  Cold_War  leverage  ruthlessness  influence  Palestinian  Iraq  Persian_Gulf  multiple_stressors  grand_strategy 
january 2012 by jerryking
The fight of Richard Rainwater's life - Fortune Management
November 7, 2011 | Fortune | By Peter Elkind and Patricia Sellers, with Doris Burke.
The renowned dealmaker built a fortune using little besides his wits. Now he's funding a crash program to stop the disease that's destroying his mind.

Rainwater's deals were just as eclectic and creative. But a pattern quickly emerged. Rainwater always looked for a big event. A blowup in energy prices. A revolution in health care reimbursements. A real estate bubble. Then he looked for a powerful way to exploit the upheaval -- not just to bet the trend but to turbocharge the bet. To snatch up drilling assets at panic-sale prices and hand them to the oil patch's most astute operator. To build a chain of super-efficient hospitals. To buy premium downtown office space (the quickest to bounce back) on the cheap after a market crash.
Bass_brothers  big_bets  bubbles  creativity  cunning  dealmakers  discontinuities  event-driven  events  leverage  Richard_Rainwater  turbocharge 
november 2011 by jerryking
Lessons from Private-Equity Masters
June 2002 | Harvard Business Review| by Paul Rogers, Tom Holland, and Dan Haas.

The Four Disciplines of Top Private-Equity Firms

Define an Investment Thesis

Have a three- to five-year plan

Stress two or three key success levers

Focus on growth, not just cost reductions

Don’t Measure Too Much

Prune to essential metrics

Focus on cash and value, not earnings

Use the right performance measures for each business

Link incentives to unit performance

Work the Balance Sheet

Redeploy or eliminate unproductive capital—both fixed assets and working capital

Treat equity capital as scarce

Use debt to gain leverage and focus, but match risk with return

Make the Center the Shareholder

Focus on optimizing each business

Don’t hesitate to sell when the price is right

Act as unsentimental owners

Get involved in the hiring and firing decisions in portfolio companies

Appoint a senior person to be the contact between the corporate center and a business
HBR  Bain  lessons_learned  private_equity  metrics  investment_thesis  measurements  dispassion  incentives  constraints  leverage  focus  sweating_the_assets  unsentimental  debt  owners 
november 2011 by jerryking
Wealth Creation and Wealth Destruction after the crash of 2008 and the Economic Bubble that preceded it the CRASH of EQUITIES
Dewealthification is an apt adjective for t wealth destruction that is suddenly changing our "boomer" life styles. We in America have been steadily wealthified since our country's founding by a combination of being born or living in a naturally rich country, being thrown together with a bunch of enterprising and creative people, having our friends and enemies destroying each other in 2 World Wars, and the establishment a "fair" social compact between government, industry and our politicians. Through the confluence of time, history, power, and culture our country has experienced immense wealth creation in the last century. In the last 2the curren0 years we have not only steadily wealthified but have leveraged our wealth as a country. "Leverage" is the act of borrowing to make larger bets.
blogs  downward_mobility  wealth_creation  leverage  wealth_destruction 
october 2011 by jerryking
All I ever needed to know about change management - - Organization - Change Management
MAY 1997 | McKinsey Quarterly | ROGER DICKHOUT offers 5 basic
premises to help clients design organizational change programs—ideas
Dickout considers as natural laws:
(1) the law of constituent balance--change driven by an imbalance
between a company’s stakeholders: shareholders, employees, customers,
communities, & mgmt.
(2) the law of leverage. Max. the return on effort by changing those
things that will produce the greatest results/really matter.
(3) the law of momentum. Liberate the energy to drive the change. Change
is work. Work requires energy. That energy can be introduced from
outside—e.g. pressure from shareholders or new mgmt.—or the system’s own
potential energy can be transformed into kinetic energy.
(4) the law of feedback and adjustment. Learn how your organization
responds to change, and adjust the program accordingly. N.B.Change may
itself create opportunity.
(5) the law of leadership.Leadership is the scarce resource and
ultimately, the catalyst of change.
McKinsey  change_management  organizational_change  leadership  feedback  leverage  OPMA  momentum  constituencies  adjustments  return_on_effort  imbalances  what_really_matters 
april 2011 by jerryking
"The Best Advice I Ever Got" - March 21, 2005
March 21, 2005 | Fortune Magazine | By INTERVIEWERS Julia Boorstin.

Brian Grazer
"My whole career has been built on one piece of advice that came from two people: [MCA founder] Jules Stein and [former MCA chairman] Lew Wasserman. In 1975 I was a law clerk at Warner Bros. I'd spent about a year trying to get a meeting with these two men. Finally they let me in to see them. They both said, separately, 'In order for you to be in the entertainment business, you have to have leverage. Since you have none--no money, no pedigree, no valuable relationships--you must have creative leverage. That exists only in your mind. So you need to write--put what's in your mind on paper. Then you'll own a piece of paper. That's leverage.'

"With that advice, I wrote the story that became Splash, which was a fantasy that I had about meeting a mermaid. For years, I sent registered letters to myself--movie concepts and other ideas--so that I had my ideas officially on paper. I have about 1,000 letters in a vault. To this day, I feel that my real power is only that--ideas and the confidence to write them down."
advice  career  inspiration  entrepreneur  Managing_Your_Career  Clayton_Christensen  humility  MBAs  Siemens  Salesforce  Mickey_Drexler  JetBlue  Peter_Drucker  Jim_Collins  Rick_Warren  leverage  Xerox  Andy_Grove  conventional_wisdom  Richard_Parsons  negotiations  Jack_Welch  Vivek_Paul  thinking  Starbucks  Warren_Bennis  Richard_Branson  Warren_Buffett  Brian_Grazer  creating_valuable_content  Lew_Wasserman 
december 2010 by jerryking
Legal Rebels - 5 Business Model Innovations Solos Need to Truly Compete with BigLaw
With the financial crisis of 2008-2009, every part of this old model has come under scrutiny, even in a traditionally high-end field like IP litigation. Specifically:

Leverage. Leverage, or the associate-to-partner ratio within a firm or practice, is good for reportable profits per partner. But it is not necessarily good for clients. As clients push to cut litigation costs, leverage declines. This trend favors solos and less-leveraged practices.

Within One Firm. Historically, the transaction costs associated with assembling a team of lawyers not located under the same roof made it prohibitive to build a competitive litigation team from a network of solos. But the rise of Web 2.0 is changing that. With my LinkedIn/Facebook/Outlook network of colleagues, I can identify, customize and assemble a team in less time than it used to take to walk the halls of my old BigLaw firm. But we need innovation in the areas of contractual arrangements and the laws governing lawyers to fully deliver on the promise of the ad hoc, Web 2.0, virtual law firm.

Customized. In most areas of law practice, as the field matures, more and more aspects of the discipline become standardized.

Off the shelf. The opposite of build-it-by-hand-from-scratch-every-time. Compared with some other fields of law, IP litigation has been fairly slow to progress in this manner. It has therefore remained—relatively speaking—profitable custom work. But we are starting to see some indications that aspects of IP litigation are being made more routine, even standardized. This is a good development for the solo IP litigator. As formerly labor-intensive-but-routine pieces of IP litigation evolve into off-the-shelf modules, we are freed up to apply our creativity and good judgment to the more strategic aspects of the case, with a diminished need to spend time supervising large teams as they custom-polish a third set of interrogatories or research for the nth time how to apply the Brown Bag Software case to a two-tiered stipulated protective order. Innovation in off-the-shelf litigation modules is starting to arrive, and more is needed.

Billable hours. It has been proclaimed and repeated that the billable hour is dead. Well, maybe not quite. But it is certainly open to competition from alternative fee arrangements. We have enough data and experience now that we can start to accurately predict IP litigation costs. And we can bill a la carte, charging fixed fees for different pieces of litigation. A menu might include one fixed fee for pleading-through-pretrial conference, a per-deposition fee, a per-custodian document discovery fee and so on. Models continue to evolve. Clients want their lawyers to share the risk—to have some “skin in the game”—and to have incentives for efficiency. Innovative billing models are coming.
solo  business_models  law_firms  competitive_landscape  Big_Law  off_the_shelf  billable_hours  transaction_costs  LinkedIn  Facebook  networks  JCK  Michael_McDerment  leverage 
october 2010 by jerryking
KKR Evolves, Hiring Trading Team From Goldman - WSJ.com
OCTOBER 21, 2010 | Wall Street Journal | By GREGORY
ZUCKERMAN Evolution at KKR: Goldman's Genetics, The move KKR. to hire a
team of stock traders from Goldman Sachs is a sign of change sweeping
the private-equity industry. Prestigious buyout firms are plunging into
stock & bond trading, underwriting, & hedge funds, and away from
the LBOs that earned them fame and fortune. As recently as 2004, $14.4
B of KKR's $15.1 B of assets came from leveraged buyouts. Today, after
diving into debt trading, only $41B of its $54.4 B portfolio is from LBO
investments. And KKR, whose stock now trades publicly as KKR & Co.,
is actively examining a push into other businesses, according to people
close to the matter....Top executives at KKR and other firms argue that
in their research on buyout deals they uncover other investing
opportunities, such possible debt and stock purchases, that they can't
profit from without operating other kinds of investment vehicles.
diversification  private_equity  KKR  markets  buyouts  market_research  leverage  stocks  carve_outs 
october 2010 by jerryking
Pictet Partner Reflects on His Career and Asian Growth - WSJ.com
JUNE 8, 2010 | WSJ | by DUNCAN MAVIN. WSJ: What has surprised
you most about Asia's private-banking industry?

Mr. Pictet: I am impressed by the tremendous ability of Asian
high-net-worth individuals to create wealth through their business
networks. They didn't just survive the last few financial market crises
relatively unscathed, but also demonstrated their remarkable capability
to replenish their liquidity in a very short time frame.

WSJ: What's the difference between high-net-worth investors and the rest
of us?

Mr. Pictet: Generally, if you are talking to high-net-worth clients
familiar with financial markets on a world-wide basis, they tend to
target a return on investment with a shorter time horizon. They
personally get involved in decision-making rather than giving a mandate
to professional managers, and assume a somewhat higher risk profile with
frequent use of leveraging.
private_banking  high_net_worth  Asians  leverage  personal_involvement  risk-taking  ROI  time_horizons  holding_periods 
june 2010 by jerryking
The Green Machine Hal Harvey spends his environmental war chest with one guiding principle: winning
FEBRUARY 12, 2007 WSJ article by JEFFREY BALL. Global warming
is tougher than localized environmental threats such as smog. That, Hal
Harvey argues, requires environmentalists to focus less on fiery
rhetoric and more on hashing out economically efficient policies that
have political legs. In doling out the dollars at his disposal, Mr.
Harvey uses much the same strategy as the other venture capitalists in
Silicon Valley. He invests where he thinks he'll get maximum return. In
his parlance, he looks for the political "pinch points" likely to
promote technologies that will deliver the most "tons of carbon avoided
per philanthropic dollar invested." He and his colleagues try to compute
that using spreadsheets.
green  environment  philanthropy  lobbying  policy  strategy  UFSC  financial_literacy  pain_points  bottlenecks  leverage  return_on_effort  investors  climate_change 
february 2009 by jerryking

Copy this bookmark:





to read