Tag: Management

WSJ News Exclusive | Peloton Co-Founder John Foley Faced Repeated Margin Calls From Goldman Sachs as Stock Slumped

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John Foley, the co-founder and former chief executive of Peloton Interactive faced repeated margin calls on money he borrowed against his Peloton holdings before he left the fitness company’s board last month, according to people familiar with the situation.

As Peloton’s shares slumped over the past year, Goldman Sachs Group asked Mr. Foley several times to provide fresh funds or additional collateral for personal loans the bank had extended to him, the people said. The company’s share price has fallen nearly 95% from its $160 peak in December 2020.

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October 11, 2022
Why All Leaders Need Executive Coaching, Not Just a Mentor

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Opinions expressed by Entrepreneur contributors are their own.

It’s not a secret; no one wants a boss. Over the last two decades, research has confirmed the No. 1 thing employees want from their manager is coaching. People want to work for someone who brings out the best in them. This was demonstrated at Google in 2008 and by Gallup in 2020.

In today’s work environment, the desire for personal growth and fulfillment is even more important, but as employee demands from the workplace have changed, manager capabilities have not. As employees climb the ranks, they find their way into management without necessarily learning the skills and techniques required to lead.

Many new managers turn to a trusted mentor such as a more experienced manager whom they wish to emulate. The problem is, being a mentor is voluntary and is based on lived experience.

Unlike mentors, executive coaches are tasked with improving the performance and capabilities of their clients as their day job.

There is a misconception that executive coaches are for managers who have done something wrong; they have poor communication or are not collaborative. While it’s true that an executive coach could support a difficult employee to become a better teammate, today, an executive coach is a proactive perk that can guide managers along their desired career path.

Here are six ways an executive coach can level up your organization.

Related: Why Does Coaching Matter for Entrepreneurs?

1. Give the people what they want

Working for a great mentor is up to chance, but having an executive coach is a guaranteed return. Executive coaches ensure that your managers’ desires for growth and fulfillment are being met, keeping them satisfied and engaged at work. It’s an investment in time and effort that will manifest through their greater responsibilities, helping them grow and evolve from their own profound ability. Coaches hold employees accountable and help them reach their desired potential.

2. Get leaders out of their own heads

A person at any level can get lost in the weeds, but when a leader loses sight of the big picture, it quickly demotivates a team. When leaders work with coaches, it gives them an opportunity to talk through their challenges with an outsider. In having higher-level conversations, coaches guide leaders toward simplicity, lifting them out of the fog.

Coaches don’t have the answers. They ask the right questions to evoke awareness and help managers see their challenges with new eyes. With clarity of purpose, leaders can empower their teams to achieve their goals. Employees will be united by a shared vision, reducing spin and increasing efficiency.

3. Uncover the truth

The more senior a leader becomes, the more at risk they are of losing touch with reality. Teams become less likely to challenge ideas and feedback becomes limited. An executive coach is an unbiased third party who won’t tiptoe around the truth. Of course, executive coaches are also highly trained in giving feedback and having difficult conversations, and it’s their job to do so.

Keeping leaders honest is crucial for creating a positive workplace culture and getting the best performance out of people.

Related: How to Set Goals With an Executive Coach to Unlock All of Your Potential

4. Steady the waters

With mass layoff announcements on linkedin appearing by the day, CEOs are turning over and stepping down before they get a chance to make a real impact. The C-suite are the most important recipients of executive coaching as their attitudes, efforts, and vision affect the outcomes of the entire organization. Even the great Steve Jobs, Sergey Brin and Larry Page turned to trillion-dollar coach Bill Campbell to shape their leadership style and drive effectiveness. Often acknowledged as the most isolating role in business, CEOs need a coach to get out of their own echo chamber and help them steer the ship.

5. Reduce churn

People will stay at a job when they are learning and feel valued. An executive coach accomplishes both by challenging them, acting as a means to self-improvement and supporting career growth.

You might be thinking, why would I invest if they’re just going to leave? First, doing this makes them less likely to leave but if they exit, Henry Ford said, “The only thing worse than training your employees and having them leave is not training them and having them stay.”

Related: Improve Employee Retention By Taking a People-First Approach

6. Create a cycle of improvement

Giving managers the opportunity to be coached sends a message that leadership is invested in making more leaders. It gives something back to the much-deserving managers who give their time and energy to the good of the business. Working with a coach can make the manager a coach themselves, which we know is the most valuable trait a leader can possess.

With improved ability, clarity, willingness and motivation, trained managers create a cycle of improvement, raising up and training up the next generation of leaders rather than simply promoting them.

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Liliana Pertenava

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October 11, 2022
Buffett’s Likely Successor Buys $68 Million of Berkshire Stock

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Berkshire Hathaway

Vice Chairman Greg Abel, the likely successor to CEO Warren Buffett, bought about $68 million of the company’s shares last Thursday in what appears to be his first purchases of Berkshire stock since he assumed the position in 2018.

In several Form 4 filings Monday with the Securities and Exchange Commission, Abel disclosed that he purchased 168 Berkshire Hathaway (ticker: BRK/A, BRK/B) Class A shares through the Gregory Abel Revocable Trust on behalf of his wife, children, and other family members.

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October 3, 2022
Two Discovery Senior Living Team Members Appointed to Argentum’s 2022 LEAD Program Cohort

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Christian Steil and Savannah Rogers will join the industry association’s prestigious Leadership Advancement & Development (LEAD) Program, which assembles, educates and empowers emergent and aspiring leaders from all segments and sub-sectors of the overall seniors housing industry.

Press Release
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Apr 28, 2022

BONITA SPRINGS, Fla., April 28, 2022 (Newswire.com)
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Discovery Senior Living (“Discovery”) has announced that team members Christian Steil and Savannah Rogers will be part of the second-ever Argentum Leadership Advancement & Development (LEAD) Program cohort after their nominations were chosen by the Program’s Steering Committee earlier this month.

Steil and Rogers were nominated by top-ranking Discovery executives to take part in the selective, half-year educational and networking cooperative, which is presented by seniors housing industry association Argentum. The LEAD program is designed to provide emerging leaders a unique skill-building and development curriculum with firsthand executive insights, informative salon sessions, a team-based leadership project, and the opportunity to forge beneficial relationships with other, emerging leaders in the seniors housing space.

In being accepted into this year’s Argentum LEAD Program, Steil and Rogers will follow in the path of Discovery’s Vice President of Marketing, Heidi LaVanway, who was a member of the inaugural LEAD Program cohort in 2020-2021. The 2022 cohort will first assemble in person and kick off program-sponsored activities at the Argentum Senior Living Executive Conference, May 16-18 in Minneapolis, MN.

“I’m sincerely honored to be selected and to have this opportunity to learn from and work alongside fellow senior living industry leaders,” said Steil, who works as Regional Director of Sales for the Discovery Commons National Brand. “Especially as our industry emerges from the pandemic, this year’s LEAD initiatives provide critical forums to originate and explore new ideas for evolving the industry, solving modern-day challenges and meeting the ever-changing needs of the next generation of seniors.”

Rogers, who serves as Divisional Director of Culinary for Discovery regional management company Morada Senior Living, said, “I am extremely grateful to be selected for this year’s Argentum LEAD program. “It is an honor to be recognized…and I’m more energized than ever to acquire through the Program new skills and knowledge to better serve our company, current and future residents and our industry as a whole.”

Discovery Senior Living currently owns and operates a portfolio of 110 communities across 19 states.

About Discovery Senior Living

Discovery Senior Living is a family of companies that includes Discovery Management Group, Morada Senior Living, TerraBella Senior Living, Discovery Development Group, Discovery Design Concepts, Discovery Marketing Group, and Discovery At Home, a Medicare-certified home healthcare company. With almost three decades of experience, the award-winning management group has been developing, building, marketing, and operating upscale senior-living communities across the United States. By leveraging its innovative “Experiential Living” philosophy across a growing portfolio of more than 13,000 existing homes or homes under development, Discovery Senior Living is a recognized industry leader for lifestyle customization and, today, ranks among the 10 largest U.S. senior living operators and providers.

Media Inquiries:

Heidi LaVanway, Vice President of Marketing

HLaVanway@DiscoveryMGT.com| 239.301.5330

Source: Discovery Senior Living

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April 28, 2022
Beverage Consulting Firm Enliven Appoints Tim Harms CEO

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Press Release
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Feb 23, 2022

NASHVILLE, Tenn., February 23, 2022 (Newswire.com)
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Enliven, the nation’s leading beverage partnership consulting firm, today announces the appointment of Tim Harms as the company’s new Chief Executive Officer. Bringing distinctive leadership and experience to the helm, Mr. Harms is set to lead the company as it expands into new areas of strategic growth. Mr. Harms succeeds Tim Richardson, Founder and current Chief Executive Officer who will transition to Chair of the Board.

Mr. Harms is a seasoned executive with more than a decade of senior leadership in the consulting and beverage industries. Before joining the Enliven team in 2013 as an Account Executive, he provided advisory and assurance services at Deloitte. He was promoted to Managing Director in 2015 and has worked to help Enliven’s clients create innovative, win-win beverage partnerships which deliver results directly to their bottom line. Under his purview, Enliven has grown revenue by nearly 300%, expanded into international markets, and launched new service offerings.

“I am excited to lead such a strong and innovative organization that is a champion for its customers,” said Tim Harms, Chief Executive Officer of Enliven. “Like many sectors, food service has faced significant challenges caused by the effects of COVID 19. Our customers are facing shifting consumer habits, changes in customer traffic and behavior, as well as labor shortages and supply chain bottlenecks. In the midst of these headwinds, we are here to help our clients navigate for the future with solutions that have a material impact on their business. We thoughtfully create partnerships that are greater than the sum of the parts and yield real value for years to come. We’re honored that our customers have come to rely on us for this partnership.”

Enliven specializes in helping customers manage and negotiate exclusive pouring rights contracts with the major beverage companies. Each of its divisions is led by a seasoned practice leader and a deep bench of talent who bring unrivaled expertise and capabilities to the table when negotiating on behalf of clients. Enliven has delivered more than one billion dollars in savings to its clients. Most recently it secured major contracts in the amusement park, healthcare, and restaurant industries. The company is strategically expanding, adding additional practice verticals in entertainment, retail, and convenience.

“I am pleased to welcome Tim Harms as CEO,” said Tim Richardson, Founder of Enliven. “He is a visionary leader and has demonstrated significant skill and understanding of the needs of our customers. Tim is dedicated to delivering outstanding results while acutely understanding the nuances of beverage deal negotiation with the top players in the market. I am particularly grateful for his talent for creating and nurturing an outstanding company culture that prioritizes personal growth and professional development. With his appointment, we are well positioned to propel Enliven into the next phase of its evolution.”

About Enliven
Enliven negotiates and manages best-in-class, exclusive pouring rights agreements (beverage deals) for its customers. The company services clients in key sectors including healthcare, food service, hospitality, aviation, convenience, and entertainment. It provides mission critical business intelligence to financial and supply chain executives and has delivered more than one billion dollars in savings to its clients through its negotiated beverage programs. Enliven’s dedicated team of industry experts takes a hands-on approach to extracting long-term value and winning results for its clients. For more information visit www.EnlivenLLC.com.

Media Contact:
Angela Palmieri
press@enlivenpartnership.com

Source: Enliven LLC

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February 23, 2022
Elite Alliance Introduces New Residence Club in Downtown San Miguel De Allende, Voted the #1 City in the World by Travel + Leisure

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Press Release
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updated: Sep 23, 2021

ROCHESTER, N.Y., September 23, 2021 (Newswire.com)
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Elite Alliance®, the leader in luxury fractional real estate consulting and sales, vacation home exchange, resort hospitality management, and vacation rental, announced Quinta Tenerías residence club in downtown San Miguel de Allende, Mexico, as its newest partnership. Quinta Tenerías owners enjoy an enviable array of amenities, services, and privileges, along with easy access to all the attractions that made San Miguel the #1 city in the world for two consecutive years among Travel + Leisure readers. Quinta Tenerías is an intimate and elegant private residence club located in the heart of one of the most desirable, beautiful, and iconic cities in Mexico. Owners select from two categories of luxurious two-bedroom residences, either the 1,450-square-foot Luxe Residences or the 1,980-square-foot Grand Residences, all of which come fully furnished in distinctively different but equally appealing designs.

There are eight like-minded owners per residence, and each enjoys frequent and flexible access to their elegant home throughout the year. Unlike traditional vacation homes, the club staff ensures worry-free ownership and hassle-free vacations. The Quinta Tenerías residences seamlessly blend contemporary interior design with the traditional San Miguel de Allende architecture style. The Luxe Residences are single-story with terraces overlooking interior gardens. The Grand Residences are two-story residences with an outdoor terrace offering Cathedral views.

“Elite Alliance Real Estate was retained by Quinta Tenerías to create the fractional ownership structure and supervise the sales and marketing efforts,” said Rob Goodyear, President of Elite Alliance. “We are also providing our expertise in management and rental services, including membership into our vacation exchange program.”

Goodyear noted that club owners can relax in their San Miguel home with friends and family while enjoying resort services, send unaccompanied guests, rent some of their vacation time through Elite Alliance Hospitality, and exchange vacations with owners of other luxury homes and residence clubs in more than 120 international locations through Elite Alliance Exchange.

Quinta Tenerías offers more than beautiful residences. Owners and their guests also enjoy a rooftop terrace with cocktail lounge, jacuzzi, and fire pits, club courtyard, barbecue, and outdoor kitchen area, as well as access to fitness and yoga classes, pre-arrival grocery service, housekeeping, and full concierge. The club is in close proximity to colorful festivals of the region and some of the most acclaimed tourist attractions in Mexico. The captivating history and culture of San Miguel allows visitors to take part in diverse activities, cultural experiences, and intense excursions like nowhere else in the world. Declared a World Heritage Site by UNESCO, with its unique, attractive charm that reflects all that is best about Mexico, Quinta Tenerías Residence Club provides a desirable lifestyle in one of the globe’s top urban destinations.

About Elite Alliance

Thirty years ago, Elite Alliance® Founder Steve Dering, created the world’s first residence club at top-rated Deer Valley Resort in Park City, Utah. This innovative, fractional ownership model, which increased accessibility for buyers and market size for developers, became the fastest-growing segment of the vacation home market. As Elite Alliance’s portfolio of luxury residence clubs expanded, it introduced Elite Alliance Exchange, a program that allows owners to explore other coveted destinations at nominal expense. Elite Alliance Exchange quickly earned a reputation for first-class customer service in facilitating and coordinating exchange vacations. As a result, Elite Alliance Hospitality was created to provide robust hospitality and rental management services for residence clubs, hotels, and resorts that improve operational performance and client satisfaction.

Today, Elite Alliance continues to set the standard for excellence in fractional real estate consulting, vacation exchange, and hospitality management – always guided by a commitment to integrity and innovation.

For more information on Elite Alliance Real Estate, Hospitality and Exchange services, please visit www.elitealliance.com, or contact Rob Goodyear at rgoodyear@elitealliance.com or 214.393.2842.

About Quinta Tenerías Residence Club

Quinta Tenerías is an equity Residence Club providing fractional real estate ownership in the heart of San Miguel de Allende. Each Club Residence boasts modern architecture and is fully furnished and accessorized. Club Residences feature all five elements of Feng Shui such as wood and stone floors to interconnect outdoor spaces with interior areas, water fountains to promote positive energy (CH’I), fireplaces to represent the fire element for success, and metal elements associated with the qualities of pleasure and creativity. Every aspect is intended to provide comfort, safety, and harmony throughout the Club. Rogelio Villanueva, CEO and Founder, had the vision of creating a space where Mexican architecture and culture could merge in a place surrounded by luxury and comfort. He opted for San Miguel de Allende as the best place to introduce his concept to the world.

For more information on Quinta Tenerías, please visit www.quintatenerias.com.

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Source: Elite Alliance, LLC

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September 23, 2021
A Manifesto on Teamwork: What Companies Can Accomplish

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Ron Wallace, Former President, UPS International, Offers Secrets To Success.

Press Release
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updated: Apr 5, 2016

Atlanta, GA, April 5, 2016 (Newswire.com)
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Ron Wallace was a package delivery driver for six years in rural northern Idaho before he rose through the ranks to become president of UPS International in one of the most recognized and respected companies in the world.

In his newest book, Leadership Lessons from a UPS Driver: Delivering a Culture of We, Not Me (Berrett–Koehler Publishers, April 4, 2016), Wallace shares his insights and advice from a career of nearly four decades.

“UPS founder Jim Casey regularly reminded his managers of the many benefits of investing in their people. ‘While building up others, you will build up yourself,’ he said. Ron Wallace was a walking testament to this spirit, and his book will serve as an inspiration for all managers looking to help their teams climb to new heights.”

David Abney, Chairman and CEO, United Parcel Service

He pulls back the curtain and describes the principals and inner workings of UPS that have never been revealed before; principals that have helped guide the company’s success for more than a century.

Instead of writing a typical business memoir celebrating the leader as a celebrity, Wallace shares vivid stories that focus on the people he worked with, the challenges they overcame, and how these fine-tuned principals have come to define the UPS way.

The straightforward and easy to understand lessons provide a blueprint for an individual or company to build on past successes and adapt to future challenges. This is a must read for anyone aspiring to become a great leader.

What others are saying:

“UPS founder Jim Casey regularly reminded his managers of the many benefits of investing in their people. ‘While building up others, you will build up yourself,’ he said. Ron Wallace was a walking testament to this spirit, and his book will serve as an inspiration for all managers looking to help their teams climb to new heights.”
– David Abney, Chairman and CEO, United Parcel Service

“Ron Wallace does a phenomenal job of sharing leadership insights in Leadership Lessons from a UPS Driver. You’ll be intrigued as you learn to apply these principles to your life. Very practical steps yet remarkable results when applied.”
– Dan T. Cathy, Chairman, President, and CEO, Chick-fil-A, Inc.

Hardcover copy sales are underway at: http://bit.ly/OrderLeadershipLessons

To arrange an interview with the author, contact Gary Mastro at G1Mastro@Earthlink.net or 404-434-0223.

High Resolution Images (headshot; book cover front; text only presser): http://bit.ly/RonWallaceLeadershipLessonsImages

About the Author:
Ron Wallace is the former president of UPS International. During his tenure he was responsible for operations in more than 200 countries and territories with more than 60,000 people under his direction. He also served on the corporate management committee that oversaw day-to-day operations of UPS and its more than 400,000 employees as well as serving on numerous boards of the company’s corporate subsidiaries. Following his retirement, Wallace served as chairman of the Georgia Governor’s Commission charged with the formation of Milton, Georgia, along with other philanthropic and business pursuits. In addition to Leadership Lessons from a UPS Driver, author Ron Wallace’s third published book, he’s working on a fourth book about leadership practices of the Old West.

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April 5, 2016