Category Archives: People

Dick DeVos’ Stow Company Hires New CEO

I read that Frank Newman retired as CEO of The Stow Company, although he remains a board of advisors member for the company. The company is owned by Dick and Betsy DeVos, and Dick has already appointed a new CEO: Phil Dolci. The company is a subsidiary of Amway’s holding company, The Windquest Group, based in Grand Rapids, Michigan. Dolci has excelled as a business leader for more than 23 years in marketing and product manufacturing. He was CEO at Crosman Corp before this, a world class design, manufacturing, and distribution company that produces products for shooting sports. So, in my opinion, Newman is certainly quite qualified to lead the company.

Dick DeVos remains the Chairman of the Board at The Stow Company. He made a statement in which he praised Phil Dolci as being the exactly right person to drive the company’s presence and future growth in the home organization products sector. He also thanked Frank Newman for his years of good leadership. Dolci has an MBA from Northwestern University’s Kellogg School of Management. He first obtained his BA in economics at the University of Chicago. He has worked in executive positions in several other companies, including Sanford – a Newell Rubbermaid company, Kraft Foods, Dean Food, and U.S. Playing Cards – a Jarden Corporation company.

Amway was founded by Dick DeVos’ father, Richard DeVos, Sr., in 1959. This is where Dick DeVos, Jr., got his entrepreneurial chops and also his first model of a philanthropist in action. He was the CEO of Amway and headed the operations of the consumer products company starting in 1993 and continuing up until 2002. He ran for the office of Governor of Michigan in 2006. He attended the renowned Harvard Business School, from Northwood University he earned his degree in Business Administration, and he holds a number of honorary doctorates. He graduated from Forest Hills public school and has always been very involved, along with his wife, in education initiatives. He also completed the Executive Study Programs at the University of Pennsylvania’s Wharton School. He is one of the wealthier American businessmen with a net worth of $5 billion.

Both Dick and his wife Betsy have promoted many education causes, especially in the area of education reform. The couple’s philanthropy continues a DeVos family tradition of giving generously to schools, such as Michigan’s Christian school, the Potter’s House. They also have donated to a Grand Rapids aviation trade school, called the West Michigan Aviation Academy. Their Education Freedom Fund gifts low-income students with tuition scholarships to private schools. Read the Dick DeVos Wikipedia Page.

Op-ed: Clean power and good move for Economy and Environment

 

Last week, Reno City Council voted support for Clean power Plan. This program will help our country move toward a renewable and clean energy and away from the dirty coal power. With this vote, the council has become an important entity in the region to support clean power plan, joining numerous private companies. These voices have come together to press our society toward a better cleaner energy through clean power plan. A new, sustainable, diverse, healthy growing economy rests on us to provide the opportunity for the region. This clean energy program will realize the economic growth of our country. The leading companies in this transition are keeping the required pressure on our leaders and utilities. This time, we need truly clean energy.

The time to demand much from the leaders we elected is now. We do not just ask for compliance but rather actual leadership. This region will lay an example and become the leader in adopting the clean power plan for the 21st century and create a stronger and healthy economy. We need to ask the officials we elected to use a rational and long-term thinking and not to heed to interest groups. Through clean power plan, we will be able to realize a vibrant and healthy economy. The clean energy topic is, however, political. It is about the stern reality of the poor quality air we and the increased drought and forest fires in this region. It’s about the truth that is immutable about our country’s contribution to hemisphere and climate woes. We can reverse this by the fact that we have a chance of accepting the clean power plan.

Andy Wirth was born on 25th July 1958, and he serves in the hotel and mountain resorts industry. He is the current CEO and leader of Squaw Valley Ski Holdings. For 25 years now, Wirth has been working in the Hotel and mountain resort industry. He commenced his career with Steamboat Springs in 1986, and he has held numerous leadership and marketing positions at Steamboat. He holds a bachelor’s of science degree from the University of Colorado.

The Person Responsible for the Success of Highland Capital Management

The person behind Highland Capital Management is James Dondero, Cofounder and President of HCM, Highland Capital Management in 1993. Having 30-years of experience in equity markets, working mainly on high-yield and distressed investments. James Dondero attended the University of Virginia, receiving a BS in Commerce, Accounting, and Finance. Aside from his equity skills and knowledge, Jim is a Certified Managerial Accountant, (CMA) and a Charter Financial Analyst, (CFA).

As a financial genius, Dondero serves as a member of a couple of boards; one being on the Board of Directors for the MGM Studios on jamesdondero.com and American BankNote. He also holds the office of Chairman of the Board of NexBank, Cornerstone Healthcare, and the CCS Medical Corporation.

During the explosive hedge fund years in the 90’s Dondero was very active as a Corporate Bond Analyst, then moved into Portfolio Management at American Express. Today, September 15, as CEO of Highland Capital, Dondero shares his thoughts on today’s market, noting US stocks having a quiet week compared to the mini-meltdown over the last couple of weeks. Dondero noted that the developed markets remain in better condition than emerging markets and that interest rates still stay in the broad range of trading. Lastly, he states the US dollar will continue its movement showing stocks moving in an upward trend. That’s today’s update and Dondero again expresses his valued opinion on market trends.

Dondero’s view of deflation earlier this year noted the interest rates moving lower as evidenced in the market and are still low today. Although the market continues to fluctuate, transportation stocks reveal the rising effect of crude oil dragging the market. His views and explanation of the market movement is precise and valuable information.

Highland Capital Management kicks off its Endowed Tower Scholars Program Fund at Southern Methodist University (SMU). The purpose of this program is to give undergraduate students the opportunity to be involved in public policymaking through the universities political studies under the John Goodwin Tower Center studies.

James Dondero’s philanthropic endeavors are driven by education and with his involvement in Southern Methodist University an extraordinary opportunity is available to students to become a part of policymaking working with influential employers. The Tower Scholars Program at SMU is designed for undergraduates, giving them hands-on knowledge and experience in the real-world. Also, HCP has contributed $2 million to the university, encouraging others to donate and support the program. Jake L. Harmon Endowed Internship Program $1 million gifts, and the Berry R. Cox Family Foundation, another million dollar gift earmarked to support the operations of the program. The program is receiving healthy support from Dondero’s philanthropy efforts.

Highland Capital President James Dondero

James Dondero on nextpointadvisers.com is a New York hedge fund manager, who has risen through management ranks to be President of Highland Capital. His ambition, determination and selfless effort are admirable. He has set a typical example for people that want to own their businesses. Even though it is not an easy affair, he promises that with determination and an open mind, one finally gets to the desired destination.
In the 1980s, James worked with American Express where he managed over $1 billion as a credit investor. The company gave him the experience and confidence he needed to start his business. In 1993, he co-founded Highland Capital Management and never looked back. Highland Capital majors in credit investment for its clients. To date, they have over $20 billion in asset management. It is a commendable gain for a corporation that was started by two ambitious individuals two decades ago.
NexPoint Advisers deal in alternative asset management practices, which specialize in fixed income investment yields. Mr. Dondero serves as the Portfolio Manager with NexPoint. In May 2015, the company announced that they had appointed James as Chairman of the Board. NexPoint reiterated that they were happy to bring Mr. Dondero, for he is an individual with over 30 years industry experience. He was a perfect addition to the company, as he is an industry-tested individual who had a high character and investment wit to be admired.
James graduated with a BS in Accounting and Finance. In addition to graduating from Virginia University, he enrolled in other institutions and was certified as Financial Analyst and Managerial Accountant. Currently, he serves in Cornerstone Healthcare as Board Chairman. Consequently, he is on the Board of Directors of Metro-Goldwyn-Mayer and American Banknote Corporation. The numerous roles keep James alert as an investor. It is his upright personally and decision making, which keeps his name flying high.
Investment advice is a priceless piece that can turn one’s fortune. It is why investment firms are growing by the day. Many people and companies have money to invest, but do not have the right opportunities to invest. Additionally, they have no expertise to assess risk and ascertain that returns are guaranteed. Therefore, it explains why demand for investment advisers has gone up over the last decade.
Highland’s philosophy is to apply tested principles, so as to produce high yields that are consistent. Additionally, they insist on discipline in capital preservation. As an investment firm, they lay more emphasis on the risk-return balance in their portfolio. Their primary strategy is to provide access to a unique class of an asset to an investor. It is quite motivating to the investor, and any other potential clients.
With over 20 years experience in the industry, Highlands Capital has matured with time. They have tested many strategies of success and selected the best ones for implementation. Due to the maturity of the top management, they choose the top-down approach to making decisions. It is the sensitivity of the decisions that makes or breaks relationships with clients. Therefore, it is a risky affair to allow low-level decisions as they may affect consumers negatively. Highland Capital Management is in safe hands, due to the experience and detailed analysis by James Dondero and other top managers.