Businessman

Louis Chenevert Reflects On His Time As CEO Of United Technologies

Louis Chenevert is an individual with intense determination that knows how to build and expand a business from the ground up. His time as CEO of United Technologies Corporation was one where he emphasized efficiency in everything that he and the company did. He was elected CEO of the corporation in April 2008 and he went on to become chairman in January 2010. He retired from the corporation in 2014.

Much like the Indian proverb, if you ask Louis Chenevert how you eat an elephant, he will simply say, “one bite at a time.” You obviously do not become CEO of a company overnight. Prior to Chenevert’s time as CEO he was a director at the company from 2006 to 2008. This powerful business leader has also spent time at Goldman Sachs, General Motors and Pratt & Whitney. During a recent interview, he reflected on his time as chief executive at United Technologies:

Chenevert had a number of objectives while he was CEO of the firm. First of all, he was looking to strengthen their portfolio with some new products. These would include such things as the f135 Engine, which improved military propulsion, and an update on the GTF engine, which had 20% better fuel burn, 50% reduction in noise, and parts that lasted 30% longer.

Chenevert also commented on how he brings ideas to life. He believes that a focus on operational talent, engineering and working on exceeding customer expectations contributes to an environment where ideas can flourish. He likes to focus on small teams and he has a disdain for internal politics. His entrepreneurial style includes relentless follow-up and a focus on the ability to give executives the tools to continue to be an asset to the company.

Finally, Louis Chenevert believes that in order to be a successful leader and entrepreneur you have to focus on everyone on your team. This would include individuals who do not align with the core principles of the company. To put it bluntly, these “energy drainers” should probably be removed from the team, simply because of the fact that Louis Chenevert believes that where the company flourishes, the economy will improve as well and it lead to even more hiring.
https://frenchtribune.com/teneur/25552-innovative-deals-and-inspired-leadership-characterize-louis-chenevert         

Malcolm CasSelle

The tech world is one of those that changes rather quickly. Malcolm CasSelle is a man who certainly understands just how quickly that world can change from one month or one week to the next. CasSelle is the founder of OPSkins the well known global leader in sales of in-game virtual assets. Now he has started a brand new firm that will be dealing with cyber currency exchanges.

WAX (World Asset Exchange) is just getting off the ground, but it certainly has a bonus in that it’s being led by a businessman that absolutely knows what he’s doing when it comes to getting these sort of tech firms launched.

WAX is one of those firms that might stand out because it’s a P2P marketplace that is focused on the trading of virtual currency and assets that can be procured through smart contracts. This marketplace could stand out from what is an evergrowing crowd because it will allow for people to better trade those assets among each other, rather than having to go through a firm that will handle the trades for them. Perhaps the biggest difference between this marketplace and other cyber currency trading spots is that this one will be able to be integrated with online gaming communities. Players will be able to trade currency and assets with one another while they are still in the middle of their games.

CasSelle is certainly someone who understands who can do whatever it takes in the tech world. The man is more than just a very good businessman. He has a bachelor’s degree from MIT and a masters in computer science from Stanford. This is a man that has a mind for innovation in the tech world that stands out among other CEOs. CasSelle is someone who has gotten quite a bit of support and respect from his contemporaries because of his ability to come up with these kinds of ideas throughout his career.

While the average consumer might not know what WAX has to offer, he’s certainly come up with a product that will absolutely appeal to those who are immersed in the tech world.

 

David Giertz Tells Us About Meaningful Retirement Planning

Welcome to life after retirement! Surprisingly, many people quickly realize that its not all fun and games. Simply put, most individuals think that retirement is simply just stopping working. While they are right about that, there is actually a lot more to it than that. Thus, when it comes to retirement, if you fail to plan, you plan to fail. David Giertz is president of Nationwide Financial, and he had some great insights into effect retirement planning during a recent interview.

Normally, a good rule of thumb for ordinary people is to save up to six times their income for their retirement. For those who want to retire early the number are even higher – David Giertz actually recommends that a person has up to 33 times their income saved up for it.

The next thing you have to look out for would be finding an effective way to retire early without paying a ton in penalties. Many retirement accounts will charge you a whopping 10% to withdraw it before age 59 1/2. Of course, there are workarounds to this, with the most popular being a traditional Roth IRA. This method allows you to withdraw your money at any time with just a small withdrawal fee each time. The only catch is that your salary can’t be any higher than $118,000 per year.

If you make more than this amount you can still withdraw early with a traditional IRA or 401K as long as you use the “Rule of 55”. The IRS will often not penalize you if you withdraw at age 55 or 56.

Moreover, you can also use a 72t rule as long as your withdrawals are the same leading up to the age of 59 1/2. Bear in mind that if you deviate even slightly it could open you up to penalties from the good ol’ IRS.

David Giertz

David Giertz has served as president of Nationwide Financial Services since 2013. He has also held a number of other bank positions, including vice president at Bank Channel from 2004 to 2009.

Giertz has built his life around keeping people financially secure. Many individuals from all walks of life have relied on him to improve their financial future.

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