| July Trivia |
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Trivia answers can be found below.
1. From what ancient ruler does July derive its name?
a) Julian the Apostate of Constantine
b) Julius Caesar of Rome
c) Julius Nepos of the Western Roman Empire
2. The month of July celebrates all of the following except:
a) National Anti-Boredom Month
b) National Hot Dog Month
c) National Sunscreen Month
3. What sporting event, played in mid-July on a Tuesday, is book-ended by the only two days in a calendar year where there are no professional sports games being played in the United States?
a) Major League Baseball All-Star Game
b) US Open Championship
c) PBA Medford Open
4. Bastille Day, the French national holiday celebrated July 14th, commemorates the storming of the Bastille fortress during which year of the French Revolution?
a) 1791
b) 1790
c) 1789
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| Trivia Answers |
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1. b
2. c
3. a
4. c
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| Greetings!
Looking for some good reading material to enjoy while spending time outdoors this summer? We hope this month's edition of The Vollrath Vibe came just in time! |
CEO as Storyteller In Chief
Many top executives, often graduates from conventional business schools, prefer to project their vision, goals and results using data points, graphs and Excel sheets. They can often overlook the tool of storytelling. Yet storytelling can be a powerful way for a chief executive to sketch a vision and align people behind it.
Many successful executives skillfully enthrall us with their stories, telling us how they started their business, what they stand for and where they are going.
Howard Schultz, the chairman of Starbucks, shares the story of his journey to Milan and the passion he discovered for richly brewed espresso. The trouble Starbucks' coffee buyers go through to select the highest-quality beans from the most remote regions of the world, the care their baristas take - everything becomes romantic and fascinating, enticing us to stand in line as long as it takes to get our cup of coffee. From that kind of simple story, we - employees, customers, shareholders - derive meaning for everything a company does.
Straight talk and statistics appeal to the intellect, but people aren't inspired by reason alone. Compelling stories convey loads of information while also appealing to our emotions, ensuring that we not only listen, but get engaged and inspired.
Stories are easy to tell and easy to remember. Therefore they're easy to spread. A leader can start a good story on its way and watch it take on a life of its own, even creating a community as it grows.
Adapted from the article "The CEO As Storyteller In Chief" by Sangeeth Varghese on Forbes online, June 15, 2009.
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Activist Investors and their Tag Alongs
According to a recent report by Thomson Reuters, IROs and management teams should be on the lookout for activist investors whose presence in a stock may attract "tag along" firms looking for a quick and easy buck. It is not uncommon for other institutions to try to ride the coattails of a hedge fund, private equity or activist firm, especially if the two share similar interests and may actually work in tandem to achieve their agendas.
The report suggests the best ways to deal with an activist and potential tag alongs, including:
- Know what might attract activists in the first place. Activists tend to favor companies where a transaction (such as a spin off or an accretive acquisition) might add value. Also, a low share price compared to historical levels may raise the profile on the activist's radar screen.
- Track the shareholder base. Even if no threats appear imminent, be aware of which firms are buying and selling your stock.
- Engage the activist. Discussing the activist's goals and agenda may reveal their plans or strategy and help the company develop a defense.
- Steal their thunder. If necessary, consider aggressively making the case to shareholders that the company's board is on the ball and has the right strategy to grow the company over time.
- Consider a compromise. If the activist is convinced that the company is moving along the right path, it may relent and withdraw its aggressive stance.
Adapted from the report Strategic Research: Activists and their Tag Alongs by Glen S. Curtis in the June 2009 issue of Thomson Reuter's ezine "Investor Relations Insight."
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Freedom Ride
By Phil Vollrath
Imagine the feeling of cruising on a state-of-the-art U.S. Navy ship almost the length of a destroyer (nearly 400 feet) at an astonishing 50 knots (56 mph). This was my once-in-a-lifetime experience last month, when I was provided the opportunity to cruise aboard the new USS FREEDOM (LCS-1) from Charleston to Norfolk. We cruised for five hours at this speed, propelled by two Rolls Royce jet-turbine engines with a rooster tail you could drive a train under! The remainder of the two-day cruise seemed much quieter in comparison as we were propelled by "mere" diesel-powered water jets.
I received the invitation as a member of the committee that commissioned this ship in Milwaukee in November 2008. The ship is actually like a large jet boat, with two people steering and running the engines on the bridge. While the Freedom is still in test trials, it ultimately will be used in both deep and shallow waters to hunt submarines and small, fast speedboats. As a result of this incredible experience, I am currently part of a group working to name the sixth LCS to be built (hopefully in Marinette) the USS MILWAUKEE! Woe onto the Somali pirates - they have met their match and then some! |
Quote of the Month
"Grass is the cheapest plant to install and the most expensive to maintain."
~Pat Howell
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