P&C Insurers Post $1.3B Loss For 1Q
NU Online News Service, June 29, 1:03 p.m. EDT
Excerpts:
“The bottom line is that the impact of the current financial crisis on p&c insurance, as bad as it is, in not even remotely close to impacts experienced during the Great Depression,” said Mr. Hartwig.
“While insurers remain cautious about the economy and financial market conditions, there is guarded optimism that both will continue to improve as we move into the second half of 2009,” Mr. Hartwig observed. “Fundamentally, the property and casualty insurance industry remains quite strong financially, with capital adequacy ratios remaining high relative to long-term historical averages.”
Read Full Article: http://www.property-casualty.com/News/2009/6/Pages/PC-Insurers-Post-13B-Loss-For-1Q.aspx
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Tuesday, June 30, 2009
Economic Fires Seem Reduced to Embers
MRI Network - First Friday Preview
Volume 3, Issue 7, 6/30/2009
UNITED STATES >
Economic Fires Seem Reduced to Embers >
While the inevitable political witch-hunts that occur after anything of a disastrous scale can be taxing—the one relief they seem to give is the notion of an end to the event. >
With the hearings beginning on Capitol Hill, Bernie Madoff sitting behind bars and the unemployment insurance roll decreasing for the first time this year, consumers seem to be thinking that the worst is behind them. Official economic estimates from the International Monetary Fund project that the global economy won’t start to grow again until 2010, yet, with the U.S. typically leading the pack by six months, we could already be out of the woods. >
The Organisation for Economic Co-operation and Development in June went so far as to say the worst is over and that the recovery is expected to be stronger in the United States than the Euro area.>
“As an employer, my first concern now would be morale,” says Tony McKinnon, president of MRINetwork. “We are emerging from as bad of a recession as anyone working today can remember. While we might not be out of the woods yet, the demand for talent is heating up. After nearly a year of stress-filled offices, thin—or outright empty—bonus envelopes, and lots of long hours for fewer results, even once loyal employees won’t be so quick to brush off potential suitors. Coming out of a recession, keeping institutional knowledge on board has to be a top priority.” >
Coming in a very close second, notes Jack Mohan, president and CEO of the Boston Group, an MRINetwork affiliate, is “that you have got to have a plan ready to grow your staff again. After nine months of not actively courting candidates, most employers have at best highly outdated candidate pools.” >
Many employers, sitting on the sidelines and thinking about ramping up their hiring are looking at the job market, the constant phone calls from job hunters, or the flow of emailed resumes and are assuming that turning the switch back on again won’t be hard. >
“That’s the worst mindset to have coming out of a recession,” says Mohan, who has accelerated hiring for his five New England offices since the beginning of the year. “With the economy on the mend, passive candidates are likely more interested in switching positions now than they were in the past, but looking at the pool of active candidates is like reading a diner menu––a thousand items, but nothing to order.”>
According to The Conference Board, a New York-based business organization, the demand for many specialized fields actually still far outstrips the number of unemployed people in those fields. In four categories: architecture and engineering, physical sciences, computer and mathematical science and healthcare, advertised available positions out- paced unemployed workers in those fields by almost 2-to-1. >
“With national unemployment likely to surpass 10 percent, you’re not going to get much sympathy talking about a labor shortage. Yet, that is exactly what more than a few industries are experiencing right now,” says McKinnon. >
Provided by MRINetwork Edited by Sean Muir (212) 687-8999 smuir@KitchenPR.com
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Volume 3, Issue 7, 6/30/2009
UNITED STATES >
Economic Fires Seem Reduced to Embers >
While the inevitable political witch-hunts that occur after anything of a disastrous scale can be taxing—the one relief they seem to give is the notion of an end to the event. >
With the hearings beginning on Capitol Hill, Bernie Madoff sitting behind bars and the unemployment insurance roll decreasing for the first time this year, consumers seem to be thinking that the worst is behind them. Official economic estimates from the International Monetary Fund project that the global economy won’t start to grow again until 2010, yet, with the U.S. typically leading the pack by six months, we could already be out of the woods. >
The Organisation for Economic Co-operation and Development in June went so far as to say the worst is over and that the recovery is expected to be stronger in the United States than the Euro area.>
“As an employer, my first concern now would be morale,” says Tony McKinnon, president of MRINetwork. “We are emerging from as bad of a recession as anyone working today can remember. While we might not be out of the woods yet, the demand for talent is heating up. After nearly a year of stress-filled offices, thin—or outright empty—bonus envelopes, and lots of long hours for fewer results, even once loyal employees won’t be so quick to brush off potential suitors. Coming out of a recession, keeping institutional knowledge on board has to be a top priority.” >
Coming in a very close second, notes Jack Mohan, president and CEO of the Boston Group, an MRINetwork affiliate, is “that you have got to have a plan ready to grow your staff again. After nine months of not actively courting candidates, most employers have at best highly outdated candidate pools.” >
Many employers, sitting on the sidelines and thinking about ramping up their hiring are looking at the job market, the constant phone calls from job hunters, or the flow of emailed resumes and are assuming that turning the switch back on again won’t be hard. >
“That’s the worst mindset to have coming out of a recession,” says Mohan, who has accelerated hiring for his five New England offices since the beginning of the year. “With the economy on the mend, passive candidates are likely more interested in switching positions now than they were in the past, but looking at the pool of active candidates is like reading a diner menu––a thousand items, but nothing to order.”>
According to The Conference Board, a New York-based business organization, the demand for many specialized fields actually still far outstrips the number of unemployed people in those fields. In four categories: architecture and engineering, physical sciences, computer and mathematical science and healthcare, advertised available positions out- paced unemployed workers in those fields by almost 2-to-1. >
“With national unemployment likely to surpass 10 percent, you’re not going to get much sympathy talking about a labor shortage. Yet, that is exactly what more than a few industries are experiencing right now,” says McKinnon. >
Provided by MRINetwork Edited by Sean Muir (212) 687-8999 smuir@KitchenPR.com
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Monday, June 29, 2009
Funeral planning assistance is a new perk at workplaces | News for Dallas, Texas | Dallas Morning News | Dallas Business News
Funeral planning assistance is a new perk at workplaces News for Dallas, Texas Dallas Morning News Dallas Business News
Excerpts:
Funeral planning assistance is a new perk at workplaces
12:00 AM CDT on Monday, June 29, 2009
By BOB MOOS / The Dallas Morning News bmoos@dallasnews.com
Companies don't roll out new employee benefits in recessions. But one exception to that rule can be found in some employer-provided group life insurance plans this year.
Employees at a small but growing number of companies are gaining access to funeral planning services. With the help of a funeral concierge, they're able to make arrangements years in advance or at a moment's notice.
Read full article: http://www.dallasnews.com/sharedcontent/dws/bus/stories/DN-funeralplanning_29bus.ART0.State.Edition1.3cf2e90.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Excerpts:
Funeral planning assistance is a new perk at workplaces
12:00 AM CDT on Monday, June 29, 2009
By BOB MOOS / The Dallas Morning News bmoos@dallasnews.com
Companies don't roll out new employee benefits in recessions. But one exception to that rule can be found in some employer-provided group life insurance plans this year.
Employees at a small but growing number of companies are gaining access to funeral planning services. With the help of a funeral concierge, they're able to make arrangements years in advance or at a moment's notice.
Read full article: http://www.dallasnews.com/sharedcontent/dws/bus/stories/DN-funeralplanning_29bus.ART0.State.Edition1.3cf2e90.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Sunday, June 28, 2009
Goals: Living well & Dying well: Some reflections on regret, grief and procrastination | Psychology Today
Living well & Dying well: Some reflections on regret, grief and procrastination Psychology Today
Procrastination
Living well & Dying well: Some reflections on regret, grief and procrastination
Regrets over things undone in the grieving process: life lessons
By Timothy A. Pychyl, Ph.D. on July 26, 2008 - 6:38pm in Don't Delay
Excerpts:
Dr. Eliason noted two kinds of regrets that people express in their grief over the loss of a loved one: regrets of commission and omission. The second regret, the things we omitted doing while our loved one was alive, captured my interest. Regrets of omission are so often the result of procrastination.
Regrets of omission are so often the result of procrastination.
I asked Dr. Eliason, "What is the nature of these regrets of omission?" adding, "Are these: 1) Things people really intended to do, but never did (i.e., procrastination)?; 2) Generalized possibilities of what they could have done?; 3) Cultural scripts of what they think they should have done, what would have been nice to do?; or 4) Internalized expectations about what the loved one might have wanted them to do?
His answer didn't surprise me. He said that all four types were part of the regrets he'd seen in his practice. So, I pushed on a little further and asked which type of regret seemed most problematic. As I expected given the guilt associated with procrastination, regret over the things these grieving people really intended to do but didn't was most problematic. The regrets of omission related to our procrastination were most troubling in the grieving process.
The chair of the paper session, Dr. Adrian Tomer (and lead editor of the volume noted above) added that, in his experience, this type of unfulfilled intended action truly was the most problematic aspect of bereavement. While it may be possible to forgive oneself for an act of commission, as we all make mistakes, realizing too late in life that you simply failed to take action when you could have, is unbearable in many instances.
For those of you who have read my earlier blog entries about existentialism and procrastination (see "The anguish of procrastination" and "Bad Faith"), you'll clearly see the connections here. Procrastination isn't simply a matter of "all-nighters" on school assignments, work projects or our taxes. Procrastination is, quite often, a failure to grasp our own agency in life. It's a life of inauthentic engagement, or lack of engagement, which can bring with it these deep regrets of omission.
The conversations at this conference do provide the "antidote" for this possible inauthentic existence. It's the process of meaning-making. It's the continual process of validating a sense of coherence through the story of our lives. A story that is told with our active agency in pursuing goals which are relevant and meaningful to us.
Read full post: http://www.psychologytoday.com/blog/dont-delay/200807/living-well-dying-well-some-reflections-regret-grief-and-procrastination
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Procrastination
Living well & Dying well: Some reflections on regret, grief and procrastination
Regrets over things undone in the grieving process: life lessons
By Timothy A. Pychyl, Ph.D. on July 26, 2008 - 6:38pm in Don't Delay
Excerpts:
Dr. Eliason noted two kinds of regrets that people express in their grief over the loss of a loved one: regrets of commission and omission. The second regret, the things we omitted doing while our loved one was alive, captured my interest. Regrets of omission are so often the result of procrastination.
Regrets of omission are so often the result of procrastination.
I asked Dr. Eliason, "What is the nature of these regrets of omission?" adding, "Are these: 1) Things people really intended to do, but never did (i.e., procrastination)?; 2) Generalized possibilities of what they could have done?; 3) Cultural scripts of what they think they should have done, what would have been nice to do?; or 4) Internalized expectations about what the loved one might have wanted them to do?
His answer didn't surprise me. He said that all four types were part of the regrets he'd seen in his practice. So, I pushed on a little further and asked which type of regret seemed most problematic. As I expected given the guilt associated with procrastination, regret over the things these grieving people really intended to do but didn't was most problematic. The regrets of omission related to our procrastination were most troubling in the grieving process.
The chair of the paper session, Dr. Adrian Tomer (and lead editor of the volume noted above) added that, in his experience, this type of unfulfilled intended action truly was the most problematic aspect of bereavement. While it may be possible to forgive oneself for an act of commission, as we all make mistakes, realizing too late in life that you simply failed to take action when you could have, is unbearable in many instances.
For those of you who have read my earlier blog entries about existentialism and procrastination (see "The anguish of procrastination" and "Bad Faith"), you'll clearly see the connections here. Procrastination isn't simply a matter of "all-nighters" on school assignments, work projects or our taxes. Procrastination is, quite often, a failure to grasp our own agency in life. It's a life of inauthentic engagement, or lack of engagement, which can bring with it these deep regrets of omission.
The conversations at this conference do provide the "antidote" for this possible inauthentic existence. It's the process of meaning-making. It's the continual process of validating a sense of coherence through the story of our lives. A story that is told with our active agency in pursuing goals which are relevant and meaningful to us.
Read full post: http://www.psychologytoday.com/blog/dont-delay/200807/living-well-dying-well-some-reflections-regret-grief-and-procrastination
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Repulsion - A step towards more successful self-regulation? | Psychology Today
Repulsion - A step towards more successful self-regulation? Psychology Today
Repulsion - A step towards more successful self-regulation?
Does procrastination repluse you?
By Timothy A. Pychyl, Ph.D. on June 26, 2009 - 6:09pm in Don't Delay
Excerpts:
In a recent New York Times interview (June 22, 2009 by Tara Parker-Pope), Dr. David A. Kessler argues that we can learn to stop overeating if we can have a "perceptual shift" in our attitudes about food. Just as many people now view cigarette smoking as repulsive (knowing that it's harmful to us), it may be possible, and necessary, to develop a perceptual shift where we see overly processed foods or large portions as repulsive.
As readers of the Don't Delay blog know, I write about procrastination as one manifestation of self-regulation failure. So, what we learn about problems like over-eating, problem gambling or compulsive shopping, are relevant to our understanding of procrastination. Given this focus on self-regulation, Dr. Kessler's new book The end of overeating: Taking control of the insatiable American appetite, also speaks to the self-regulatory problem of procrastination.
Perceptual shifts and self-regulationThe comment that interested me most in Dr. Kessler's approach is related to perception, more specifically perceptual shifts that may help us self-regulate our behavior. Just as many of us have had a perceptual shift about cigarettes - where we once might have seen the habit as masculine or "hip" or even sexy - many now see it as a disgustingly dirty habit that harms our bodies.
Procrastination - A disgusting habit?
Do you find procrastination disgusting? As I read this brief interview with Dr. Kessler, I realized that I do.
Don't get me wrong. I don't find delay disgusting. I delay things all the time. These delays are deliberate and strategic. I don't find other flavors of delay disgusting. Only the needless, irrational delay that we call procrastination is disgusting or repulsive to me, because it undermines my life (see my blogs about the regrets of the dying or Viktor Frankl's thoughts on getting things done, or even Professor Randy Pausch's wisdom about our use of time).
It may seem overly strong to say that procrastination is "repulsive" or "disgusting" but it's really no stronger than saying that processed food is repulsive. It's a perception, or as Dr. Kessler puts it, it's a perceptual shift.
I find procrastination repulsive, as it's a type of delay that wastes precious time in my life - the most limited resource that I have. This disgust for wasting my life fuels my willpower when self-regulatory resources are failing me. To avoid engaging in a habit that I truly find repulsive, I "just get started" on the task at hand, and that makes all the difference.
Read full post: http://www.psychologytoday.com/blog/dont-delay/200906/repulsion-step-towards-more-successful-self-regulation
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Repulsion - A step towards more successful self-regulation?
Does procrastination repluse you?
By Timothy A. Pychyl, Ph.D. on June 26, 2009 - 6:09pm in Don't Delay
Excerpts:
In a recent New York Times interview (June 22, 2009 by Tara Parker-Pope), Dr. David A. Kessler argues that we can learn to stop overeating if we can have a "perceptual shift" in our attitudes about food. Just as many people now view cigarette smoking as repulsive (knowing that it's harmful to us), it may be possible, and necessary, to develop a perceptual shift where we see overly processed foods or large portions as repulsive.
As readers of the Don't Delay blog know, I write about procrastination as one manifestation of self-regulation failure. So, what we learn about problems like over-eating, problem gambling or compulsive shopping, are relevant to our understanding of procrastination. Given this focus on self-regulation, Dr. Kessler's new book The end of overeating: Taking control of the insatiable American appetite, also speaks to the self-regulatory problem of procrastination.
Perceptual shifts and self-regulationThe comment that interested me most in Dr. Kessler's approach is related to perception, more specifically perceptual shifts that may help us self-regulate our behavior. Just as many of us have had a perceptual shift about cigarettes - where we once might have seen the habit as masculine or "hip" or even sexy - many now see it as a disgustingly dirty habit that harms our bodies.
Procrastination - A disgusting habit?
Do you find procrastination disgusting? As I read this brief interview with Dr. Kessler, I realized that I do.
Don't get me wrong. I don't find delay disgusting. I delay things all the time. These delays are deliberate and strategic. I don't find other flavors of delay disgusting. Only the needless, irrational delay that we call procrastination is disgusting or repulsive to me, because it undermines my life (see my blogs about the regrets of the dying or Viktor Frankl's thoughts on getting things done, or even Professor Randy Pausch's wisdom about our use of time).
It may seem overly strong to say that procrastination is "repulsive" or "disgusting" but it's really no stronger than saying that processed food is repulsive. It's a perception, or as Dr. Kessler puts it, it's a perceptual shift.
I find procrastination repulsive, as it's a type of delay that wastes precious time in my life - the most limited resource that I have. This disgust for wasting my life fuels my willpower when self-regulatory resources are failing me. To avoid engaging in a habit that I truly find repulsive, I "just get started" on the task at hand, and that makes all the difference.
Read full post: http://www.psychologytoday.com/blog/dont-delay/200906/repulsion-step-towards-more-successful-self-regulation
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Saturday, June 27, 2009
Goals: I’ve lost my purpose as an entrepreneur. Help! - Business news, business advice and information for Australian SMEs | SmartCompany
I’ve lost my purpose as an entrepreneur. Help! - Business news, business advice and information for Australian SMEs SmartCompany
Author: Timothy Sharp on 26 June 2009 >
Excerpts:
In a recent coaching session with a successful entrepreneur and businessman, my client posed the following question - "I know what I'm trying to achieve but I'm not sure I really know why I want to achieve it. Can you help me?" >
Working with successful, competent and intelligent clients, this issue frequently raises its ugly head. Many of us have learned how to set goals but few of us really know how to derive meaning and purpose from what we do. Goal setting typically focuses on the ‘what' but in my executive coaching work, based very much in the domain of positive psychology, I also help people work out the ‘why', which is exactly what my client in this case was lacking.>
And why is this ‘why' so important?Because it's the ‘why' that provides the fuel to power the engine; it's the ‘why' that motivates action above and beyond the norm; it's the ‘why' that provides additional levels of satisfaction and happiness, joy and pride, contentment and other vitally important positive emotions. So how, then, do you find your ‘why'? >
Read full Article: http://www.smartcompany.com.au/executive-coach/20090626-ive-lost-my-purpose-as-an-entrepreneur-help.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Author: Timothy Sharp on 26 June 2009 >
Excerpts:
In a recent coaching session with a successful entrepreneur and businessman, my client posed the following question - "I know what I'm trying to achieve but I'm not sure I really know why I want to achieve it. Can you help me?" >
Working with successful, competent and intelligent clients, this issue frequently raises its ugly head. Many of us have learned how to set goals but few of us really know how to derive meaning and purpose from what we do. Goal setting typically focuses on the ‘what' but in my executive coaching work, based very much in the domain of positive psychology, I also help people work out the ‘why', which is exactly what my client in this case was lacking.>
And why is this ‘why' so important?Because it's the ‘why' that provides the fuel to power the engine; it's the ‘why' that motivates action above and beyond the norm; it's the ‘why' that provides additional levels of satisfaction and happiness, joy and pride, contentment and other vitally important positive emotions. So how, then, do you find your ‘why'? >
Read full Article: http://www.smartcompany.com.au/executive-coach/20090626-ive-lost-my-purpose-as-an-entrepreneur-help.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Friday, June 26, 2009
On Executive Pay, Simpler Is Better - How To Fix Executive Pay - Harvard Business Review
On Executive Pay, Simpler Is Better - How To Fix Executive Pay - Harvard Business Review
On Executive Pay, Simpler Is Better
4:15 PM Thursday June 25, 2009
by John T. Landry
Tags:Leadership, Leadership development, Talent management
Excerpts:
Back in 1990, Michael Jensen wrote a landmark HBR article arguing that "It's Not How Much You Pay CEOs, But How." He wanted boards to adjust pay according to company performance as shown by stock price. V.G. Narayanan's recent post in this debate goes a step further, arguing that executive pay should be tied aggressively to a company's specific strategy.
The Jensen article was cogent, but it led to an explosion in supercharged stock-option grants in the 1990s. Jensen initially favored restricted stock (full shares made available only years after being awarded). As he saw to his dismay, boards heard only part of his message, the part about tying compensation to stock. Issuing stock options allowed boards to respond to the market pressures they felt to boost executive pay. And in those heady days, options grants had no immediate impact on the company's books. Executives responded--rationally--by managing earnings long enough to prop up stock prices, regardless of long-term consequences. In Jensen's words, they became hooked on stock price like addicts on heroin.
In a separate post in this debate, Lucian Bebchuk and Jesse Fried offer a complex timing scheme of vesting and cashing stock options. They're trying to retain the intense incentives of stock options while preventing gamesmanship. It's hard to see boards going along, once the outcry over executive compensation fades.
That's why restricted stock is worth a new look. These grants would still give CEOs some incentive to focus on long term corporate performance. Yet the upside potential would not be great enough to tempt executives into earnings management and other manipulation. The simplicity of relying on restricted stock would also free up board time for more direct oversight of executives. Restricted stock also allows companies to pay executives handsomely, which is what boards mainly care about.
Read Full Article: http://blogs.harvardbusiness.org/hbr/how-to-fix-executive-pay/2009/06/on-executive-pay-simpler-is-be.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
On Executive Pay, Simpler Is Better
4:15 PM Thursday June 25, 2009
by John T. Landry
Tags:Leadership, Leadership development, Talent management
Excerpts:
Back in 1990, Michael Jensen wrote a landmark HBR article arguing that "It's Not How Much You Pay CEOs, But How." He wanted boards to adjust pay according to company performance as shown by stock price. V.G. Narayanan's recent post in this debate goes a step further, arguing that executive pay should be tied aggressively to a company's specific strategy.
The Jensen article was cogent, but it led to an explosion in supercharged stock-option grants in the 1990s. Jensen initially favored restricted stock (full shares made available only years after being awarded). As he saw to his dismay, boards heard only part of his message, the part about tying compensation to stock. Issuing stock options allowed boards to respond to the market pressures they felt to boost executive pay. And in those heady days, options grants had no immediate impact on the company's books. Executives responded--rationally--by managing earnings long enough to prop up stock prices, regardless of long-term consequences. In Jensen's words, they became hooked on stock price like addicts on heroin.
In a separate post in this debate, Lucian Bebchuk and Jesse Fried offer a complex timing scheme of vesting and cashing stock options. They're trying to retain the intense incentives of stock options while preventing gamesmanship. It's hard to see boards going along, once the outcry over executive compensation fades.
That's why restricted stock is worth a new look. These grants would still give CEOs some incentive to focus on long term corporate performance. Yet the upside potential would not be great enough to tempt executives into earnings management and other manipulation. The simplicity of relying on restricted stock would also free up board time for more direct oversight of executives. Restricted stock also allows companies to pay executives handsomely, which is what boards mainly care about.
Read Full Article: http://blogs.harvardbusiness.org/hbr/how-to-fix-executive-pay/2009/06/on-executive-pay-simpler-is-be.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Thursday, June 25, 2009
ACTIVE CONSTRUCTIVE RESPONSE, Using Positive Psychology in Your Relationships - US News and World Report
Using Positive Psychology in Your Relationships - US News and World Report
Using Positive Psychology in Your Relationships3 wrong ways—and 1 right way—to respond to good news from your spouse. >
ACTIVE CONSTRUCTIVE RESPONSE
By Lindsay Lyon Posted June 24, 2009 >
Last weekend, Philadelphia got an injection of positivity when the leading authorities in the field of positive psychology descended on the City of Brotherly Love for the First World Congress on Positive Psychology. Roughly 1,500 practitioners, researchers, and other professionals from around the globe convened to present their latest findings and to describe efforts to disseminate the principles of the discipline. The four-day event was the inaugural conference of the International Positive Psychology Association (IPPA), just a year old.>
Several conference presenters shared their research and insights with U.S. News. Here are five areas of life where positive psychology can have an impact: >
Close relationships is one area of life where using positive psychology can make a big difference. According to Shelly Gable, associate professor of psychology at the University of California-Santa Barbara, an important key to understanding a relationship's strength is how it works in good times, not just whether it withstands the bad. Gable has been researching what goes right in close relationships for years. By studying hundreds of couples, she's found that when romantic partners disclose positive news, how the other reacts matters—a lot. In fact, partners' reactions to each other's good news can better predict the quality of a relationship—and whether it will endure—than can partners' reactions to bad news, says Gable. >
"Reacting in a positive way not only reinforces bonds, but it also shows that person that in negative times you'll be there," says Gable. Positive reactions also magnify the uplifting effects of the good news for the partner who's doing the sharing, she notes. A negative or semi-positive response to a partner's good news, however, can undercut all the benefits derived from disclosing in the first place, such as fostering trust, intimacy, and satisfaction with the relationship, she says. Surprisingly, Gable has found that out of four possible ways to respond to a partner's positive news, only one—an "active constructive response"—is good. Couples whose partners respond in any of three less positive ways are at greater risk of calling it quits down the line.>
Consider the following example she often gives to illustrate: Your significant other comes home, beaming, and announces that he just got a great promotion at work. You could react with:>
1. An active constructive response. "That's great, you've earned it, I'm so proud of you!" followed by questions. This conveys enthusiasm, support, and interest. >
2. A passive constructive response. "Great job, honey!" then shifting to the next topic. Like dinner. >
3. An active destructive response (what Gable dubs "finding the cloud in a silver lining response"). "Wow! Does this mean you'll be working later hours? Are they going to be paying you more? I can't believe they picked you out of all the candidates." Just generally deflating. >
4. A passive destructive response. Can take either of two forms: "Wow! Wait until I tell you what happened to me today," which is very self-focused, or, "What's for dinner?"—ignoring the event altogether. >
Read Full Article: http://health.usnews.com/articles/health/brain-and-behavior/2009/06/24/using-positive-psychology-in-your-relationships.html
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Using Positive Psychology in Your Relationships3 wrong ways—and 1 right way—to respond to good news from your spouse. >
ACTIVE CONSTRUCTIVE RESPONSE
By Lindsay Lyon Posted June 24, 2009 >
Last weekend, Philadelphia got an injection of positivity when the leading authorities in the field of positive psychology descended on the City of Brotherly Love for the First World Congress on Positive Psychology. Roughly 1,500 practitioners, researchers, and other professionals from around the globe convened to present their latest findings and to describe efforts to disseminate the principles of the discipline. The four-day event was the inaugural conference of the International Positive Psychology Association (IPPA), just a year old.>
Several conference presenters shared their research and insights with U.S. News. Here are five areas of life where positive psychology can have an impact: >
Close relationships is one area of life where using positive psychology can make a big difference. According to Shelly Gable, associate professor of psychology at the University of California-Santa Barbara, an important key to understanding a relationship's strength is how it works in good times, not just whether it withstands the bad. Gable has been researching what goes right in close relationships for years. By studying hundreds of couples, she's found that when romantic partners disclose positive news, how the other reacts matters—a lot. In fact, partners' reactions to each other's good news can better predict the quality of a relationship—and whether it will endure—than can partners' reactions to bad news, says Gable. >
"Reacting in a positive way not only reinforces bonds, but it also shows that person that in negative times you'll be there," says Gable. Positive reactions also magnify the uplifting effects of the good news for the partner who's doing the sharing, she notes. A negative or semi-positive response to a partner's good news, however, can undercut all the benefits derived from disclosing in the first place, such as fostering trust, intimacy, and satisfaction with the relationship, she says. Surprisingly, Gable has found that out of four possible ways to respond to a partner's positive news, only one—an "active constructive response"—is good. Couples whose partners respond in any of three less positive ways are at greater risk of calling it quits down the line.>
Consider the following example she often gives to illustrate: Your significant other comes home, beaming, and announces that he just got a great promotion at work. You could react with:>
1. An active constructive response. "That's great, you've earned it, I'm so proud of you!" followed by questions. This conveys enthusiasm, support, and interest. >
2. A passive constructive response. "Great job, honey!" then shifting to the next topic. Like dinner. >
3. An active destructive response (what Gable dubs "finding the cloud in a silver lining response"). "Wow! Does this mean you'll be working later hours? Are they going to be paying you more? I can't believe they picked you out of all the candidates." Just generally deflating. >
4. A passive destructive response. Can take either of two forms: "Wow! Wait until I tell you what happened to me today," which is very self-focused, or, "What's for dinner?"—ignoring the event altogether. >
Read Full Article: http://health.usnews.com/articles/health/brain-and-behavior/2009/06/24/using-positive-psychology-in-your-relationships.html
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Positive Psychology: Power of Positive Thinking Is Psychology's Latest Focus - US News and World Report
Positive Psychology: Power of Positive Thinking Is Psychology's Latest Focus - US News and World Report:
5 areas of life where a positive approach can produce positive results
By Lindsay Lyon
Posted June 24, 2009
Excerts:
Last weekend, Philadelphia got an injection of positivity when the leading authorities in the field of positive psychology descended on the City of Brotherly Love for the First World Congress on Positive Psychology. Roughly 1,500 practitioners, researchers, and other professionals from around the globe convened to present their latest findings and to describe efforts to disseminate the principles of the discipline. The four-day event was the inaugural conference of the International Positive Psychology Association (IPPA), just a year old.
"Several conference presenters shared their research and insights with U.S. News. Here are five areas of life where positive psychology can have an impact:
1. Getting ahead at work. How can people truly flourish at work? That question has been at the center of Michael Frese's positive psychology research for years, and the professor of organizational psychology at Germany's University of Giessen believes he has identified an answer: what he calls 'active behavior,' which is akin to personal initiative. His studies of employees suggest that people who engage in a high degree of active behavior at work are more successful on the job—they gain more empowerment, meaning they have greater control over their work and their work is more complex; they gain even more personal initiative; and they find new jobs more easily if they become unemployed. Those findings hold true across many different workplaces and countries, he says. And active behavior not only pays off for the individual, he's found, but can change the workplace environment for the better, even boosting a firm's income.
Active behavior is comprised of three components, says Frese. The first is self-starting behavior; self-starters do things not just because a boss demands it, but because they see those things as being important. The second component is proactive behavior, or actions that people take when they think of future opportunities and prepare for them now. The third is persistence in the face of professional obstacles. These three things must all be done together, he says, to lead to positive effects. 'Every job you can imagine'—from blue-collar to sto starchy white—"can be discussed and described in this way," says Frese.
More areas where positive psychology can help:
2. Raising resilient kids3. Building solid relationships4. Increasing your happiness5. Balancing positive and negative emotions
Read Full Article: http://health.usnews.com/articles/health/brain-and-behavior/2009/06/24/using-positive-psychology-in-your-relationships.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
5 areas of life where a positive approach can produce positive results
By Lindsay Lyon
Posted June 24, 2009
Excerts:
Last weekend, Philadelphia got an injection of positivity when the leading authorities in the field of positive psychology descended on the City of Brotherly Love for the First World Congress on Positive Psychology. Roughly 1,500 practitioners, researchers, and other professionals from around the globe convened to present their latest findings and to describe efforts to disseminate the principles of the discipline. The four-day event was the inaugural conference of the International Positive Psychology Association (IPPA), just a year old.
"Several conference presenters shared their research and insights with U.S. News. Here are five areas of life where positive psychology can have an impact:
1. Getting ahead at work. How can people truly flourish at work? That question has been at the center of Michael Frese's positive psychology research for years, and the professor of organizational psychology at Germany's University of Giessen believes he has identified an answer: what he calls 'active behavior,' which is akin to personal initiative. His studies of employees suggest that people who engage in a high degree of active behavior at work are more successful on the job—they gain more empowerment, meaning they have greater control over their work and their work is more complex; they gain even more personal initiative; and they find new jobs more easily if they become unemployed. Those findings hold true across many different workplaces and countries, he says. And active behavior not only pays off for the individual, he's found, but can change the workplace environment for the better, even boosting a firm's income.
Active behavior is comprised of three components, says Frese. The first is self-starting behavior; self-starters do things not just because a boss demands it, but because they see those things as being important. The second component is proactive behavior, or actions that people take when they think of future opportunities and prepare for them now. The third is persistence in the face of professional obstacles. These three things must all be done together, he says, to lead to positive effects. 'Every job you can imagine'—from blue-collar to sto starchy white—"can be discussed and described in this way," says Frese.
More areas where positive psychology can help:
2. Raising resilient kids3. Building solid relationships4. Increasing your happiness5. Balancing positive and negative emotions
Read Full Article: http://health.usnews.com/articles/health/brain-and-behavior/2009/06/24/using-positive-psychology-in-your-relationships.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
How Positive Psychology Can Increase Your Happiness - US News and World Report
How Positive Psychology Can Increase Your Happiness - US News and World Report
How Positive Psychology Can Increase Your Happiness
Psychology prof Sonja Lyubomirsky says 12 positive activities can boost your happiness
By Lindsay Lyon
Posted June 24, 2009
Excerpts:
You can thank your parents—in part—for how happy you are; roughly half of human happiness is genetically determined. Another 10 percent comes from your life circumstances, like how happy you are with where you live. But because people quickly adapt to changes, swapping Midwest winters for West Coast warmth, say, won't lead to a lasting boost in life satisfaction, according to longtime happiness researcher Sonja Lyubomirsky, a professor of psychology at the University of California-Riverside. What can give us a lasting boost is how we think and behave, she says: About 40 percent of our happiness is under our conscious control.
Happiness, as she and other researchers define it, is comprised of two main components: A cognitive component—that is, how you think about your life, how satisfied you are with your life, and whether you feel that you are progressing towards your life's goals—and an affective component, which has to do with how often you experience positive and negative emotions. Positive emotions, though fleeting, are arguably the hallmark of happiness, she says, and can lead to upward spirals in mood and behavior.
In Lyubomirsky's 2008 book, The How of Happiness, she discusses 12 activities that science suggests can lay the groundwork for increasing and sustaining happiness by creating bursts of positive emotions. These range from practicing acts of kindness to savoring positive things, like your morning pastry, a hot shower, or time with your kids. Because not all of these activities will suit your goals and values, Lyubomirsky advises people to take her Person-Activity Fit Diagnostic before choosing which to practice. Several other factors influence how much they'll work, such as how often you do them, the effort you put in, and how motivated you are to get happier—people motivated to increase their happiness got more benefit from such interventions than those randomly selected to try them, Lyubomirsky found in a recent study. "Happiness takes work," she says. "But over time these strategies will become habitual."
Read Full Article: http://health.usnews.com/articles/health/brain-and-behavior/2009/06/24/how-positive-psychology-can-increase-your-happiness.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
How Positive Psychology Can Increase Your Happiness
Psychology prof Sonja Lyubomirsky says 12 positive activities can boost your happiness
By Lindsay Lyon
Posted June 24, 2009
Excerpts:
You can thank your parents—in part—for how happy you are; roughly half of human happiness is genetically determined. Another 10 percent comes from your life circumstances, like how happy you are with where you live. But because people quickly adapt to changes, swapping Midwest winters for West Coast warmth, say, won't lead to a lasting boost in life satisfaction, according to longtime happiness researcher Sonja Lyubomirsky, a professor of psychology at the University of California-Riverside. What can give us a lasting boost is how we think and behave, she says: About 40 percent of our happiness is under our conscious control.
Happiness, as she and other researchers define it, is comprised of two main components: A cognitive component—that is, how you think about your life, how satisfied you are with your life, and whether you feel that you are progressing towards your life's goals—and an affective component, which has to do with how often you experience positive and negative emotions. Positive emotions, though fleeting, are arguably the hallmark of happiness, she says, and can lead to upward spirals in mood and behavior.
In Lyubomirsky's 2008 book, The How of Happiness, she discusses 12 activities that science suggests can lay the groundwork for increasing and sustaining happiness by creating bursts of positive emotions. These range from practicing acts of kindness to savoring positive things, like your morning pastry, a hot shower, or time with your kids. Because not all of these activities will suit your goals and values, Lyubomirsky advises people to take her Person-Activity Fit Diagnostic before choosing which to practice. Several other factors influence how much they'll work, such as how often you do them, the effort you put in, and how motivated you are to get happier—people motivated to increase their happiness got more benefit from such interventions than those randomly selected to try them, Lyubomirsky found in a recent study. "Happiness takes work," she says. "But over time these strategies will become habitual."
Read Full Article: http://health.usnews.com/articles/health/brain-and-behavior/2009/06/24/how-positive-psychology-can-increase-your-happiness.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Positive Emotional Psychology: Have a 'Daily Diet' of Positive Emotions - US News and World Report
Positive Emotional Psychology: Have a 'Daily Diet' of Positive Emotions - US News and World Report
Positive Emotional Psychology: Have a 'Daily Diet' of Positive Emotions
We need 3 positive emotions for every negative emotion, says psychology expert
By Lindsay Lyon
Posted June 24, 2009
Excerpts:
Joy. Interest. Love. Serenity. Awe. Amusement. Pride. Such positive emotions, fleeting feelings that last just seconds or minutes, are the subject of Barbara Fredrickson's research. Fredrickson, a professor of psychology at the University of North Carolina-Chapel Hill, examines how they can alter our thoughts and actions for the better. She finds, for example that when we're under the influence of positive emotions, our awareness expands. "We literally see more," she says. "Our peripheral vision is expanded." (Negative emotions, on the other hand, narrow our thinking.) She also finds that people who increase their "daily diet" of positive emotions develop closer connections with others, their resilience and optimism strengthens, and they become less depressed and more satisfied with life, compared with people who do nothing to experience them more frequently.
The good news, says Fredrickson: "There are multiple ways to raise your ratio." You can increase your positive emotions, you can decrease your negative emotions, or you can do both, she says.
Read Full Article: http://health.usnews.com/articles/health/brain-and-behavior/2009/06/24/positive-emotional-psychology-have-a-daily-diet-of-positive-emotions.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Positive Emotional Psychology: Have a 'Daily Diet' of Positive Emotions
We need 3 positive emotions for every negative emotion, says psychology expert
By Lindsay Lyon
Posted June 24, 2009
Excerpts:
Joy. Interest. Love. Serenity. Awe. Amusement. Pride. Such positive emotions, fleeting feelings that last just seconds or minutes, are the subject of Barbara Fredrickson's research. Fredrickson, a professor of psychology at the University of North Carolina-Chapel Hill, examines how they can alter our thoughts and actions for the better. She finds, for example that when we're under the influence of positive emotions, our awareness expands. "We literally see more," she says. "Our peripheral vision is expanded." (Negative emotions, on the other hand, narrow our thinking.) She also finds that people who increase their "daily diet" of positive emotions develop closer connections with others, their resilience and optimism strengthens, and they become less depressed and more satisfied with life, compared with people who do nothing to experience them more frequently.
The good news, says Fredrickson: "There are multiple ways to raise your ratio." You can increase your positive emotions, you can decrease your negative emotions, or you can do both, she says.
Read Full Article: http://health.usnews.com/articles/health/brain-and-behavior/2009/06/24/positive-emotional-psychology-have-a-daily-diet-of-positive-emotions.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Nowadays, Leadership Means Being More Human - Forbes.com
Nowadays, Leadership Means Being More Human - Forbes.com
Nowadays, Leadership Means Being More Human
Kerry Bunker, 06.24.09, 04:45 PM EDT
The structural side of change management is the easy part.
Excerpts:
In turbulent times, we need our leaders to be more human than ever too.
Confronted by change, particularly layoffs and restructuring, people go through times that are rarely easy. Uncertainty at work triggers all kinds of behavioral and emotional reactions. Instead of being loyal, productive and enthusiastic, employees grow insecure, fearful and skeptical--and rightly so. Seismic shifts of the magnitude we're experiencing today test the resiliency of everyone in an organization.
Managers today have more or less mastered the structural side of leading change. They can understand the practical situation, make the case for change and take action. Reorganizing, restructuring and pushing for leaner organizations has all been institutionalized in our business models. Yet for all our operational savvy, 75% of change initiatives fail--even in the best of times--and in today's tough times, successful change is harder than ever.
The companies that emerge from the crisis with a strong balance sheet and a functioning, high-value talent pool will be the ones with leaders who do something more. They deal effectively with both the structural side of leading change and the human dynamic too. They keep a focus on maintaining and building trust.
This is not a time to take your talented people for granted. Those who remain on the payroll now see few external options. They are happy to still have jobs. But a captive audience is always vigilant. They are well aware of how they and their co-workers are being treated.
Of course, tending to the human side of change does not prevent plant closings, layoffs or tough work realities. But when you balance the structural, technical aspects of managing change with attention to the personal side of transition, you become a more credible and trustworthy leader. To strengthen your ability to lead your people as you run the business, focus on these six areas:
--Manage the change, but lead the transition
--Balance the drive to keep things moving with the need to give people time to catch up
--Know when to empathize and when to be tough.
--Balance realism and optimism
--Trust yourself, and trust others
--Know your strengths, and try new things
Kerry Bunker is a senior fellow at the Center for Creative Leadership, a top-ranked, global provider of executive education. He is coauthor of Leading with Authenticity in Times of Transition. This article is the third in a series from the Center for Creative Leadership; read the first one, "The Three Fundamentals of Effective Leadership," here, and the second, "Change Your Mind Before You Change Your Company," here.
Read Full Article: http://www.forbes.com/2009/06/24/human-change-management-leadership-managing-ccl.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Nowadays, Leadership Means Being More Human
Kerry Bunker, 06.24.09, 04:45 PM EDT
The structural side of change management is the easy part.
Excerpts:
In turbulent times, we need our leaders to be more human than ever too.
Confronted by change, particularly layoffs and restructuring, people go through times that are rarely easy. Uncertainty at work triggers all kinds of behavioral and emotional reactions. Instead of being loyal, productive and enthusiastic, employees grow insecure, fearful and skeptical--and rightly so. Seismic shifts of the magnitude we're experiencing today test the resiliency of everyone in an organization.
Managers today have more or less mastered the structural side of leading change. They can understand the practical situation, make the case for change and take action. Reorganizing, restructuring and pushing for leaner organizations has all been institutionalized in our business models. Yet for all our operational savvy, 75% of change initiatives fail--even in the best of times--and in today's tough times, successful change is harder than ever.
The companies that emerge from the crisis with a strong balance sheet and a functioning, high-value talent pool will be the ones with leaders who do something more. They deal effectively with both the structural side of leading change and the human dynamic too. They keep a focus on maintaining and building trust.
This is not a time to take your talented people for granted. Those who remain on the payroll now see few external options. They are happy to still have jobs. But a captive audience is always vigilant. They are well aware of how they and their co-workers are being treated.
Of course, tending to the human side of change does not prevent plant closings, layoffs or tough work realities. But when you balance the structural, technical aspects of managing change with attention to the personal side of transition, you become a more credible and trustworthy leader. To strengthen your ability to lead your people as you run the business, focus on these six areas:
--Manage the change, but lead the transition
--Balance the drive to keep things moving with the need to give people time to catch up
--Know when to empathize and when to be tough.
--Balance realism and optimism
--Trust yourself, and trust others
--Know your strengths, and try new things
Kerry Bunker is a senior fellow at the Center for Creative Leadership, a top-ranked, global provider of executive education. He is coauthor of Leading with Authenticity in Times of Transition. This article is the third in a series from the Center for Creative Leadership; read the first one, "The Three Fundamentals of Effective Leadership," here, and the second, "Change Your Mind Before You Change Your Company," here.
Read Full Article: http://www.forbes.com/2009/06/24/human-change-management-leadership-managing-ccl.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Wednesday, June 24, 2009
Impact Of Financial Crisis Poses Greatest Threat To Insurance Industry - Ernst & Young Report Highlights Top 10 Risks For Insurers
InsuranceBroadcasting.Com
Thursday, 06/25/09
Impact Of Financial Crisis Poses Greatest Threat To Insurance Industry - Ernst & Young Report Highlights Top 10 Risks For Insurers
NEW YORK, 23 JUNE 2009 - The impact of the financial crisis is the most significant risk facing the insurance industry, according to a new report by Ernst & Young. In the Second annual business risk report - insurance 2009, model risk and regulatory intervention rank second and third among the top ten risks.
'As a result of the current economic conditions, there have been significant changes in the risks since the release of our 2008 report,' says Peter R. Porrino, Global Director of Insurance in Ernst & Young's Global Insurance Center. 'As insurance companies continue to navigate their way through this downturn, they should be focusing on changing their approach to risk management, regulatory analysis and the communication of risk information.'
The report identifies the top 10 business risks faced by the industry as ranked by more than 100 leading sector analysts. The top ten risks this year are:
1. Financial market crisis: the crisis has severely battered the financial services industry. Even if systemic risk abates, the consequences have been so profound that they are likely to shape the industry for the next decade.
2. Model risk: the failure to recognize the shortcomings of models and to adequately capture the nature of risk have left some companies unprepared for the depth of recent financial events.
3. Regulatory intervention: organizations must prepare for"
4. Managing the non-life underwriting cycle: mismanaging the cycle is arguably the number one cause of insolvency in the non-life insurance industry and the number one contributor to losses in stakeholder value.
5. Geopolitical shocks: greater risk of geopolitical shocks is heightened by the economic slowdown, as falling incomes generate political pressures and collapsing tax revenues threaten governments' capacity to respond.
6. Demographic shifts in core markets: consumer focus on savings products increases the insurance industry's need to strategically manage capital risk, including exposure to equity markets.
7. Emerging markets: while proving to be an area of expansion for large diversified insurers, emerging markets are more susceptible to rapid and unexpected deterioration.
8. Channel distribution: even with current market conditions and an increasing focus on expense reduction, there are still significant opportunities and risks in investing in multi-distribution strategies.
9. Legal risks: unexpected changes in both the forms and sources of liability continue to be one of the greatest challenges facing non-life insurance companies.
10. Climate change and catastrophic events: extreme events are major strategic risks for the industry and have far-reaching implications for insurers paying the price for the escalating costs of rising catastrophic losses.
While much of the downside risk may have already occurred, the current market turbulence still poses an immediate threat. "In this environment, it is essential that insurance companies address product innovation, changing regulation, investment strategies and capital requirements to help retain earning power and maintain agency ratings. This will help to serve as a starting point for discussions among leadership so that their near- and long-term business strategies take these issues into account," Peter Porrino concludes. "While instability still prevails, opportunities abound for those companies that are able to rebuild and strengthen their businesses."
About Ernst & Young's Global Insurance Center
Insurers must increasingly address more complex and converging regulatory issues that challenge their risk management approaches, operations and financial reporting practices. Ernst & Young's Global Insurance Center brings together a worldwide team of professionals to help you achieve your potential - a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately it enables us to help you meet your goals and compete more effectively. It's how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
For more information, please visit http://www.ey.com/ <http://www.ey.com/> .
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
See Post At Insurance Broadcasting: http://www.insurancebroadcasting.com/insurance-news-062509-1.htm
Read Full Report At E&Y: http://www.ey.com/Publication/vwLUAssets/Second_annual_business_risk_report/$FILE/Industry_Insurance_Second_annual_business_risk_report_2009.pdf
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Thursday, 06/25/09
Impact Of Financial Crisis Poses Greatest Threat To Insurance Industry - Ernst & Young Report Highlights Top 10 Risks For Insurers
NEW YORK, 23 JUNE 2009 - The impact of the financial crisis is the most significant risk facing the insurance industry, according to a new report by Ernst & Young. In the Second annual business risk report - insurance 2009, model risk and regulatory intervention rank second and third among the top ten risks.
'As a result of the current economic conditions, there have been significant changes in the risks since the release of our 2008 report,' says Peter R. Porrino, Global Director of Insurance in Ernst & Young's Global Insurance Center. 'As insurance companies continue to navigate their way through this downturn, they should be focusing on changing their approach to risk management, regulatory analysis and the communication of risk information.'
The report identifies the top 10 business risks faced by the industry as ranked by more than 100 leading sector analysts. The top ten risks this year are:
1. Financial market crisis: the crisis has severely battered the financial services industry. Even if systemic risk abates, the consequences have been so profound that they are likely to shape the industry for the next decade.
2. Model risk: the failure to recognize the shortcomings of models and to adequately capture the nature of risk have left some companies unprepared for the depth of recent financial events.
3. Regulatory intervention: organizations must prepare for"
4. Managing the non-life underwriting cycle: mismanaging the cycle is arguably the number one cause of insolvency in the non-life insurance industry and the number one contributor to losses in stakeholder value.
5. Geopolitical shocks: greater risk of geopolitical shocks is heightened by the economic slowdown, as falling incomes generate political pressures and collapsing tax revenues threaten governments' capacity to respond.
6. Demographic shifts in core markets: consumer focus on savings products increases the insurance industry's need to strategically manage capital risk, including exposure to equity markets.
7. Emerging markets: while proving to be an area of expansion for large diversified insurers, emerging markets are more susceptible to rapid and unexpected deterioration.
8. Channel distribution: even with current market conditions and an increasing focus on expense reduction, there are still significant opportunities and risks in investing in multi-distribution strategies.
9. Legal risks: unexpected changes in both the forms and sources of liability continue to be one of the greatest challenges facing non-life insurance companies.
10. Climate change and catastrophic events: extreme events are major strategic risks for the industry and have far-reaching implications for insurers paying the price for the escalating costs of rising catastrophic losses.
While much of the downside risk may have already occurred, the current market turbulence still poses an immediate threat. "In this environment, it is essential that insurance companies address product innovation, changing regulation, investment strategies and capital requirements to help retain earning power and maintain agency ratings. This will help to serve as a starting point for discussions among leadership so that their near- and long-term business strategies take these issues into account," Peter Porrino concludes. "While instability still prevails, opportunities abound for those companies that are able to rebuild and strengthen their businesses."
About Ernst & Young's Global Insurance Center
Insurers must increasingly address more complex and converging regulatory issues that challenge their risk management approaches, operations and financial reporting practices. Ernst & Young's Global Insurance Center brings together a worldwide team of professionals to help you achieve your potential - a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately it enables us to help you meet your goals and compete more effectively. It's how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
For more information, please visit http://www.ey.com/ <http://www.ey.com/> .
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
See Post At Insurance Broadcasting: http://www.insurancebroadcasting.com/insurance-news-062509-1.htm
Read Full Report At E&Y: http://www.ey.com/Publication/vwLUAssets/Second_annual_business_risk_report/$FILE/Industry_Insurance_Second_annual_business_risk_report_2009.pdf
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
How To Sniff Out A Liar - Forbes.com
How To Sniff Out A Liar - Forbes.com
Entrepreneurs
How To Sniff Out A Liar
Melanie Lindner, 05.13.09, 04:40 PM EDT
Everyone stretches the truth a little. Here's what to look for (and how not to get found out).
Excerpts:
There are plenty of dangerously skilled liars--and not just the Bernie Madoffs and Jeffrey Skillings of the world. Indeed, under the right (or wrong) circumstances, we're all guilty fibbers.
According to an oft-cited 1996 University of Virginia study led by psychologist Bella DePaulo, lying is part of the human condition. Over the course of one week, DePaulo and her colleagues asked 147 participants, aged 18 to 71, to record in a diary all of their social interactions and all of the lies they told during them. On average, each person lied just over 10 times, and only seven participants claimed to have been completely honest
To be fair, most of the time we're just trying to be nice. (When your wife asks if you enjoyed the dinner she cooked, most husbands who know what's good for them say, "It was delicious.") Such "false positive" lies are delivered 10 to 20 times more often than spurious denials of culpability, according to DePaulo's research. Other studies show that men and women lie with equal frequency, though women are more likely to lie to make other people feel good, while men tend to lie to make themselves look better. As for who we hoodwink, "we lie less frequently to our significant others because we're more invested in those relationships," says Jeffrey Hancock, associate professor of communication at Cornell University
The question is: How to know when someone's selling you swampland in Florida?
Read full Article: http://www.forbes.com/2009/05/13/lie-detector-madoff-entrepreneurs-sales-marketing-liar.html?partner=executive_picks_newsletter
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Entrepreneurs
How To Sniff Out A Liar
Melanie Lindner, 05.13.09, 04:40 PM EDT
Everyone stretches the truth a little. Here's what to look for (and how not to get found out).
Excerpts:
There are plenty of dangerously skilled liars--and not just the Bernie Madoffs and Jeffrey Skillings of the world. Indeed, under the right (or wrong) circumstances, we're all guilty fibbers.
According to an oft-cited 1996 University of Virginia study led by psychologist Bella DePaulo, lying is part of the human condition. Over the course of one week, DePaulo and her colleagues asked 147 participants, aged 18 to 71, to record in a diary all of their social interactions and all of the lies they told during them. On average, each person lied just over 10 times, and only seven participants claimed to have been completely honest
To be fair, most of the time we're just trying to be nice. (When your wife asks if you enjoyed the dinner she cooked, most husbands who know what's good for them say, "It was delicious.") Such "false positive" lies are delivered 10 to 20 times more often than spurious denials of culpability, according to DePaulo's research. Other studies show that men and women lie with equal frequency, though women are more likely to lie to make other people feel good, while men tend to lie to make themselves look better. As for who we hoodwink, "we lie less frequently to our significant others because we're more invested in those relationships," says Jeffrey Hancock, associate professor of communication at Cornell University
The question is: How to know when someone's selling you swampland in Florida?
Read full Article: http://www.forbes.com/2009/05/13/lie-detector-madoff-entrepreneurs-sales-marketing-liar.html?partner=executive_picks_newsletter
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
How Employee Engagement Turned Around Campbell's - Forbes.com
How Employee Engagement Turned Around Campbell's - Forbes.com
How Employee Engagement Turned Around Campbell's
Terry Waghorn, 06.23.09, 06:00 PM EDT
An interview with Douglas Conant, CEO of Campbell Soup Co.
Excerpts:
When Douglas Conant was brought in from Nabisco to be chief executive officer of the Campbell Soup Co. in 2001, Campbell had devolved into what one magazine called "a beleaguered old brand." Sales for its largest product line, condensed soups, had declined amid intense competition, and the company was rumored to be near being taken over by one of the food industry's best performers. Eight years later, Conant is well on his way to fulfilling the mission he then set for himself, taking what he called a "bad" company and lifting its performance to "extraordinary." He has done it with cost-cutting, smart innovations, increased marketing and, especially, a concerted effort to reinvigorate the workforce.
The strategy isn't complicated. "To win in the marketplace," he has said, "we believe you must first win in the workplace. I'm obsessed with keeping employee engagement front and center and keeping up energy around it."
Gallup, the polling and research firm, studied the engagement levels of Campbell's ( CPB - news - people ) managers in 2002 and found that not only did 62% of them consider themselves not actively engaged in their jobs, a full 12% felt they were actively disengaged. Those numbers, Conant says, were the worst for any Fortune 500 firm ever polled. Today, the story is far different: 68% of all Campbell employees say they are actively engaged, and just 3% say they are actively disengaged. That's an engagement ratio of 23-to-1, and Gallup considers 12 to one to be world-class.
That massive shift has led to a dramatic turnaround in the firm's performance. In an industry that is known more for stability than for growth, Campbell has organically increased its earnings (exclusive of acquisitions, divestitures and the like) by up to 4% a year over the last eight years, with earnings per share growing 5% to 10% a year. Those figures put it near the top of its industry. Investors in Campbell have done quite well too. The total return on Campbell stock, assuming reinvested dividends, is more than 30% over that period, during which the Standard & Poor's 500 index has lost more than 10%.
Conant's use of employee engagement has been so successful that it is held up as a model in the book Closing the Engagement Gap--How Great Companies Unlock Employee Potential for Superior Results, by Julie Gebauer and Don Lowman.
Forbes recently spoke with Conant to discuss how he engaged his employees so effectively.
Read Full Article: http://www.forbes.com/2009/06/23/employee-engagement-conant-leadership-managing-turnaround.html?partner=executive_picks_newsletter
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
How Employee Engagement Turned Around Campbell's
Terry Waghorn, 06.23.09, 06:00 PM EDT
An interview with Douglas Conant, CEO of Campbell Soup Co.
Excerpts:
When Douglas Conant was brought in from Nabisco to be chief executive officer of the Campbell Soup Co. in 2001, Campbell had devolved into what one magazine called "a beleaguered old brand." Sales for its largest product line, condensed soups, had declined amid intense competition, and the company was rumored to be near being taken over by one of the food industry's best performers. Eight years later, Conant is well on his way to fulfilling the mission he then set for himself, taking what he called a "bad" company and lifting its performance to "extraordinary." He has done it with cost-cutting, smart innovations, increased marketing and, especially, a concerted effort to reinvigorate the workforce.
The strategy isn't complicated. "To win in the marketplace," he has said, "we believe you must first win in the workplace. I'm obsessed with keeping employee engagement front and center and keeping up energy around it."
Gallup, the polling and research firm, studied the engagement levels of Campbell's ( CPB - news - people ) managers in 2002 and found that not only did 62% of them consider themselves not actively engaged in their jobs, a full 12% felt they were actively disengaged. Those numbers, Conant says, were the worst for any Fortune 500 firm ever polled. Today, the story is far different: 68% of all Campbell employees say they are actively engaged, and just 3% say they are actively disengaged. That's an engagement ratio of 23-to-1, and Gallup considers 12 to one to be world-class.
That massive shift has led to a dramatic turnaround in the firm's performance. In an industry that is known more for stability than for growth, Campbell has organically increased its earnings (exclusive of acquisitions, divestitures and the like) by up to 4% a year over the last eight years, with earnings per share growing 5% to 10% a year. Those figures put it near the top of its industry. Investors in Campbell have done quite well too. The total return on Campbell stock, assuming reinvested dividends, is more than 30% over that period, during which the Standard & Poor's 500 index has lost more than 10%.
Conant's use of employee engagement has been so successful that it is held up as a model in the book Closing the Engagement Gap--How Great Companies Unlock Employee Potential for Superior Results, by Julie Gebauer and Don Lowman.
Forbes recently spoke with Conant to discuss how he engaged his employees so effectively.
Read Full Article: http://www.forbes.com/2009/06/23/employee-engagement-conant-leadership-managing-turnaround.html?partner=executive_picks_newsletter
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Tuesday, June 23, 2009
The Cost Question | GiANT Impact
The Cost Question GiANT Impact
The Cost Question >
By Dr. John C. Maxwell>
Want to Live the Dream? Pay the Price.>
Have you ever been strolling through a shopping mall or car lot when - POW! - THE perfect product captures your attention? Perhaps it's the sporty convertible with a V-8 engine and unbelievable acceleration. Maybe it's the adorable dress that's exactly your style, has a flattering fit, and accentuates all of your finest features.>
Whatever the case, there's an initial moment when you're enamored with THE product. For a split second reality is suspended as you imagine the joys of owning it. Unfortunately, two words generally bring this pleasant daydream crashing to a halt: price tag.>
The Dream Is Free, but the Journey Isn't >
When you first think about a dream, you only see possibilities and potential. As my friend Collin Sewell observed, all dreams begin obstacle-free. However, at some point we have to confront the Cost Question: Am I willing to pay the price of my dream? >
If you want to achieve a dream, you have to be willing to do more than just imagine the outcome. You have to be willing to pay a price to start the journey. Dreams don't fall into our laps by accident or good fortunate. They must be attained at the cost of personal sacrifice.>
The Price Must Be Paid Sooner Than You Think >
Dreams can't be bought on impulse. Buy now, pay later financing isn't an option. If you want to own a dream, then be prepared to make a hefty down payment.>
I think most people realize that there will be some cost for achieving their dream. They have a vague notion that someday they will have to pay a price. But they don't realize how quickly the costs come. Stepping toward a dream is like launching a rocket; massive amounts of energy must be expended at the beginning. Otherwise, gravity takes hold and the journey never gets off the ground.>
The Price Will Be Higher Than You Expect >
All dreams have price tags attached, and the cost is always higher than we expect to pay. Not once in my conversations with successful people have I heard someone say, "Getting to the top was much easier than I anticipated." The reverse is true. Those at the pinnacle of their professions point to the hardships and sacrifices they had to endure to reach the top. >
Having done a good deal of travel, I've learned the taxi principle: ALWAYS find out the cost before you get in the cab. Unfortunately, dreams are far too complex for us to accurately access the costs upfront. A noble dream is worth the expense, but the full costs won't be apparent until we're already on the journey.>
The Price Must Be Paid More Than Once >
As a young leader, I mistakenly thought acquiring a dream was like buying a ticket to Six Flags: pay once and enjoy the rides. Experience has taught me otherwise. Following a dream forces you to make continual sacrifices. >
Just as a rocket must shed weight to escape gravity, so to a leader has to let go of some goals to accomplish others. You have to give up to go up.>
Let's face it: dreams don't work unless you do. Easing off the accelerator and coasting won't get you to your desired destination. For dreams to be apprehended, leaders must have an appetite for hard labor.>
It Is Possible To Pay Too Much for Your Dream >
Although sacrifices go hand in hand with success, it is possible to overpay for a dream. Don't mortgage relationships or discard your moral compass in pursuit of career goals. I've seen it happen all too often. I've watched people sacrifice marriages, neglect their kids, ignore their health, and abandon their conscience - all in the name of a "dream.">
As Jesus of Nazareth once said, "What does it profit a man to gain the whole world but lose his own soul?" Some prices aren't worth paying. Do not allow your dream to dictate your values. Rather, make sure your values inform and govern your dream. >
About
John C. Maxwell is an internationally recognized leadership expert, speaker, and author who has sold over 16 million books. EQUIP, the organization he founded has trained more than 2 million leaders worldwide. Every year he speaks to Fortune 500 companies, international government leaders, and audiences as diverse as the United States Military Academy at West Point, the National Football League, and ambassadors at the United Nations. A New York Times, Wall Street Journal, and Business Week best-selling author, Maxwell was named the World's Top Leadership Guru by Leadershipgurus.net. He was also one of only 25 authors and artists named to Amazon.com's 10th Anniversary Hall of Fame. Three of his books, The 21 Irrefutable Laws of Leadership, Developing the Leader Within You, and The 21 Indispensable Qualities of a Leader have each sold over a million copies.
Read Original Post: http://www.giantimpact.com/articles/read/article_the_cost_question/?utm_source=leadershipwired&utm_medium=email&utm_content=article&utm_campaign=lw-20090623
"This article is used by permission from Leadership Wired, GiANT Impact's premiere leadership newsletter, available for free subscription at www.giantimpact.com."
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
The Cost Question >
By Dr. John C. Maxwell>
Want to Live the Dream? Pay the Price.>
Have you ever been strolling through a shopping mall or car lot when - POW! - THE perfect product captures your attention? Perhaps it's the sporty convertible with a V-8 engine and unbelievable acceleration. Maybe it's the adorable dress that's exactly your style, has a flattering fit, and accentuates all of your finest features.>
Whatever the case, there's an initial moment when you're enamored with THE product. For a split second reality is suspended as you imagine the joys of owning it. Unfortunately, two words generally bring this pleasant daydream crashing to a halt: price tag.>
The Dream Is Free, but the Journey Isn't >
When you first think about a dream, you only see possibilities and potential. As my friend Collin Sewell observed, all dreams begin obstacle-free. However, at some point we have to confront the Cost Question: Am I willing to pay the price of my dream? >
If you want to achieve a dream, you have to be willing to do more than just imagine the outcome. You have to be willing to pay a price to start the journey. Dreams don't fall into our laps by accident or good fortunate. They must be attained at the cost of personal sacrifice.>
The Price Must Be Paid Sooner Than You Think >
Dreams can't be bought on impulse. Buy now, pay later financing isn't an option. If you want to own a dream, then be prepared to make a hefty down payment.>
I think most people realize that there will be some cost for achieving their dream. They have a vague notion that someday they will have to pay a price. But they don't realize how quickly the costs come. Stepping toward a dream is like launching a rocket; massive amounts of energy must be expended at the beginning. Otherwise, gravity takes hold and the journey never gets off the ground.>
The Price Will Be Higher Than You Expect >
All dreams have price tags attached, and the cost is always higher than we expect to pay. Not once in my conversations with successful people have I heard someone say, "Getting to the top was much easier than I anticipated." The reverse is true. Those at the pinnacle of their professions point to the hardships and sacrifices they had to endure to reach the top. >
Having done a good deal of travel, I've learned the taxi principle: ALWAYS find out the cost before you get in the cab. Unfortunately, dreams are far too complex for us to accurately access the costs upfront. A noble dream is worth the expense, but the full costs won't be apparent until we're already on the journey.>
The Price Must Be Paid More Than Once >
As a young leader, I mistakenly thought acquiring a dream was like buying a ticket to Six Flags: pay once and enjoy the rides. Experience has taught me otherwise. Following a dream forces you to make continual sacrifices. >
Just as a rocket must shed weight to escape gravity, so to a leader has to let go of some goals to accomplish others. You have to give up to go up.>
Let's face it: dreams don't work unless you do. Easing off the accelerator and coasting won't get you to your desired destination. For dreams to be apprehended, leaders must have an appetite for hard labor.>
It Is Possible To Pay Too Much for Your Dream >
Although sacrifices go hand in hand with success, it is possible to overpay for a dream. Don't mortgage relationships or discard your moral compass in pursuit of career goals. I've seen it happen all too often. I've watched people sacrifice marriages, neglect their kids, ignore their health, and abandon their conscience - all in the name of a "dream.">
As Jesus of Nazareth once said, "What does it profit a man to gain the whole world but lose his own soul?" Some prices aren't worth paying. Do not allow your dream to dictate your values. Rather, make sure your values inform and govern your dream. >
About
John C. Maxwell is an internationally recognized leadership expert, speaker, and author who has sold over 16 million books. EQUIP, the organization he founded has trained more than 2 million leaders worldwide. Every year he speaks to Fortune 500 companies, international government leaders, and audiences as diverse as the United States Military Academy at West Point, the National Football League, and ambassadors at the United Nations. A New York Times, Wall Street Journal, and Business Week best-selling author, Maxwell was named the World's Top Leadership Guru by Leadershipgurus.net. He was also one of only 25 authors and artists named to Amazon.com's 10th Anniversary Hall of Fame. Three of his books, The 21 Irrefutable Laws of Leadership, Developing the Leader Within You, and The 21 Indispensable Qualities of a Leader have each sold over a million copies.
Read Original Post: http://www.giantimpact.com/articles/read/article_the_cost_question/?utm_source=leadershipwired&utm_medium=email&utm_content=article&utm_campaign=lw-20090623
"This article is used by permission from Leadership Wired, GiANT Impact's premiere leadership newsletter, available for free subscription at www.giantimpact.com."
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Defined Benefit Pensions Threatened - Forbes.com
Defined Benefit Pensions Threatened - Forbes.com
International
Defined Benefit Pensions Threatened
Oxford Analytica, 06.23.09, 06:00 AM EDT
The economic crisis has accelerated the decline of DB plans in the U.S. and U.K.
Excerpts:
Both the U.K. and the U.S. are traditional bastions of private defined-benefit pension plans. But the recent market crash has sent this important social and economic institution reeling, compounding a pre-existing phenomenon that has seen defined-benefit schemes practically eliminated as an option for new workers entering the private sector.
In the U.S., the top 100 corporate pension plans experienced funded-status drops of roughly 30% in 2008, according to Pensions & Investments. Given that these plans had a surplus of over $110 billion in 2007, ending 2008 with a deficit of close to $200 billion is particularly serious.
The Center for Retirement Research at Boston College estimates that U.S. firms are going to have to increase contributions by about $90 billion in 2009 over 2008 levels.
The underfunding, and its related costs, is accelerating the demise of private defined-benefit (DB) pensions. In the U.K. and U.S. this could spell the end for this once-dominant pension institution.
Pension Benefit Guarantee Corp.-insured private-sector DB plans have been in decline since the 1980s; as of 2007, U.S. companies sponsored around 30,000 DB plans, down from over 114,000 in 1985. This trend seems to be accelerating. The majority of Fortune 100 firms now only offer new employees defined-contribution plans. According to Watson Wyatt, a consulting firm, this is the first time that has happened.
In a 2008 report, the Government Accountability Office suggested that most U.S. firms freeze their DB plans due to cost considerations and the volatility of plan funding. Given both have just increased, there is widespread expectation that pension plan freezes and terminations will accelerate.
Read full article: http://www.forbes.com/2009/06/22/pension-plans-economy-business-oxford-analytica.html?partner=daily_newsletter
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
International
Defined Benefit Pensions Threatened
Oxford Analytica, 06.23.09, 06:00 AM EDT
The economic crisis has accelerated the decline of DB plans in the U.S. and U.K.
Excerpts:
Both the U.K. and the U.S. are traditional bastions of private defined-benefit pension plans. But the recent market crash has sent this important social and economic institution reeling, compounding a pre-existing phenomenon that has seen defined-benefit schemes practically eliminated as an option for new workers entering the private sector.
In the U.S., the top 100 corporate pension plans experienced funded-status drops of roughly 30% in 2008, according to Pensions & Investments. Given that these plans had a surplus of over $110 billion in 2007, ending 2008 with a deficit of close to $200 billion is particularly serious.
The Center for Retirement Research at Boston College estimates that U.S. firms are going to have to increase contributions by about $90 billion in 2009 over 2008 levels.
The underfunding, and its related costs, is accelerating the demise of private defined-benefit (DB) pensions. In the U.K. and U.S. this could spell the end for this once-dominant pension institution.
Pension Benefit Guarantee Corp.-insured private-sector DB plans have been in decline since the 1980s; as of 2007, U.S. companies sponsored around 30,000 DB plans, down from over 114,000 in 1985. This trend seems to be accelerating. The majority of Fortune 100 firms now only offer new employees defined-contribution plans. According to Watson Wyatt, a consulting firm, this is the first time that has happened.
In a 2008 report, the Government Accountability Office suggested that most U.S. firms freeze their DB plans due to cost considerations and the volatility of plan funding. Given both have just increased, there is widespread expectation that pension plan freezes and terminations will accelerate.
Read full article: http://www.forbes.com/2009/06/22/pension-plans-economy-business-oxford-analytica.html?partner=daily_newsletter
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Even Michelangelo's David Started Out as a Block!
Even Michelangelo's David Started Out as a Block!
by Mitchell Ditkoff
Stuck? Confused? Blocked? Get over it by filling in the blanks and reading your story aloud!
Read full post: http://www.ideachampions.com/article_block.shtml
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
by Mitchell Ditkoff
Stuck? Confused? Blocked? Get over it by filling in the blanks and reading your story aloud!
Read full post: http://www.ideachampions.com/article_block.shtml
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Monday, June 22, 2009
Highlights of Treasury's Guidance on Executive Compensation Standards for TARP Recipients
Highlights of Treasury's Guidance on Executive Compensation Standards for TARP Recipients
Bracewell &Giuliani
News & Publications
Highlights of Treasury's Guidance on Executive Compensation Standards for TARP Recipients
June 16, 2009
Excerpts:
On June 10, 2009, the U.S. Department of the Treasury ("Treasury"), issued long awaited guidance in the form of an interim rule ("Interim Rule") implementing Section 111 of the Emergency Economic Stabilization Act of 2008 ("EESA"), as amended by the American Recovery and Reinvestment Act of 2009 ("ARRA"). Since the passage of the ARRA on February 17, 2009, there has been confusion as to the application of the executive compensation and corporate governance standards applicable to an entity receiving financial assistance ("TARP recipient") under the Troubled Asset Relief Program ("TARP"). In an attempt to eliminate this confusion, the Interim Rule consolidates all of the executive compensation and corporate governance related provisions applicable to TARP recipients and supersedes all prior guidance on the subject.
Generally, Section 111 of the EESA, as amended, imposes corporate governance and executive compensation requirements on TARP recipients. These requirements apply for so long as any obligation arising from financial assistance under the TARP remains outstanding (the "TARP period"), but do not apply at any time that the Treasury only holds warrants to purchase common stock of the TARP recipient.
In this update we provide highlights of the more significant considerations raised by the Interim Rule related to executive compensation. Shortly following this update, we will provide highlights of the more significant matters related to the Interim Rule with respect to corporate governance.
Read full article: http://www.bracewellgiuliani.com/index.cfm/fa/news.advisory/item/fc872ea1-63c4-4363-aedc-7053bc9f733c/from_rss.cfm
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Bracewell &Giuliani
News & Publications
Highlights of Treasury's Guidance on Executive Compensation Standards for TARP Recipients
June 16, 2009
Excerpts:
On June 10, 2009, the U.S. Department of the Treasury ("Treasury"), issued long awaited guidance in the form of an interim rule ("Interim Rule") implementing Section 111 of the Emergency Economic Stabilization Act of 2008 ("EESA"), as amended by the American Recovery and Reinvestment Act of 2009 ("ARRA"). Since the passage of the ARRA on February 17, 2009, there has been confusion as to the application of the executive compensation and corporate governance standards applicable to an entity receiving financial assistance ("TARP recipient") under the Troubled Asset Relief Program ("TARP"). In an attempt to eliminate this confusion, the Interim Rule consolidates all of the executive compensation and corporate governance related provisions applicable to TARP recipients and supersedes all prior guidance on the subject.
Generally, Section 111 of the EESA, as amended, imposes corporate governance and executive compensation requirements on TARP recipients. These requirements apply for so long as any obligation arising from financial assistance under the TARP remains outstanding (the "TARP period"), but do not apply at any time that the Treasury only holds warrants to purchase common stock of the TARP recipient.
In this update we provide highlights of the more significant considerations raised by the Interim Rule related to executive compensation. Shortly following this update, we will provide highlights of the more significant matters related to the Interim Rule with respect to corporate governance.
Read full article: http://www.bracewellgiuliani.com/index.cfm/fa/news.advisory/item/fc872ea1-63c4-4363-aedc-7053bc9f733c/from_rss.cfm
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Saturday, June 20, 2009
The 5 Magic Hours: how to connect with your kids every day
The 5 Magic Hours: how to connect with your kids every day
Excerpts:
Without further ado, here are the 5 things you can do to connect with your children:
1. Partings – Don’t leave in the morning, or drop them off, until you know one interesting thing coming up in your child’s or teen’s day (2 minutes x 5 days a week = 10 minutes a week)
2. Reunions – Take 10 minutes a day (per child) to talk about their day (1 hr and 40 min a week)
3. Admiration and Appreciation – Find some way to genuinely communicate affection and appreciation to your children or teen every day, for 5 minutes a day, 7 days a week (35 minutes
4. Affection – Kiss, hug, hold, tickle, or play with your kids every day, always include a good night kiss, and resolve any anger before sending your child or teen to bed; 5 minutes a day, 7 days a week (35 minutes)
5. Family Time – set aside 2 hours of uninterrupted family time each week; this can be your family meeting, game night, hike, etc but it CAN NOT include video games, movies, TV or phone calls (these dramatically reduce interaction, which is the opposite of your goal)
Are you wondering how to fit these into your day? Partings can easily be done in the car or at the breakfast table. Reunions can also be done while driving home or around the dinner table. We have a 2 best/1 worst time at dinner every evening where each person gets time to talk about the worst thing that happened to them during the day, followed by the two best. This is also a great time to admire and appreciate your kids for handling bad things well or achieving something positive. There is a bonus for family dinner time, too! Research has been conducted to determine what National Merit Scholars (the most academically successful students in our country) have in common. National Merit Scholars come from varying races, socioeconomic classes, regions, and schools. The only common thread found, and it was found with EVERY National Merit Scholar, was a daily, uninterrupted family dinner hour that was full of conversation (Levy, 1996).
Read full Post: http://www.examiner.com/x-11512-Anchorage-Parenting-Examiner~y2009m6d17-The-5-Magic-Hours-how-to-connect-with-your-kids-every-day
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Excerpts:
Without further ado, here are the 5 things you can do to connect with your children:
1. Partings – Don’t leave in the morning, or drop them off, until you know one interesting thing coming up in your child’s or teen’s day (2 minutes x 5 days a week = 10 minutes a week)
2. Reunions – Take 10 minutes a day (per child) to talk about their day (1 hr and 40 min a week)
3. Admiration and Appreciation – Find some way to genuinely communicate affection and appreciation to your children or teen every day, for 5 minutes a day, 7 days a week (35 minutes
4. Affection – Kiss, hug, hold, tickle, or play with your kids every day, always include a good night kiss, and resolve any anger before sending your child or teen to bed; 5 minutes a day, 7 days a week (35 minutes)
5. Family Time – set aside 2 hours of uninterrupted family time each week; this can be your family meeting, game night, hike, etc but it CAN NOT include video games, movies, TV or phone calls (these dramatically reduce interaction, which is the opposite of your goal)
Are you wondering how to fit these into your day? Partings can easily be done in the car or at the breakfast table. Reunions can also be done while driving home or around the dinner table. We have a 2 best/1 worst time at dinner every evening where each person gets time to talk about the worst thing that happened to them during the day, followed by the two best. This is also a great time to admire and appreciate your kids for handling bad things well or achieving something positive. There is a bonus for family dinner time, too! Research has been conducted to determine what National Merit Scholars (the most academically successful students in our country) have in common. National Merit Scholars come from varying races, socioeconomic classes, regions, and schools. The only common thread found, and it was found with EVERY National Merit Scholar, was a daily, uninterrupted family dinner hour that was full of conversation (Levy, 1996).
Read full Post: http://www.examiner.com/x-11512-Anchorage-Parenting-Examiner~y2009m6d17-The-5-Magic-Hours-how-to-connect-with-your-kids-every-day
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
The 5 Magic Hours: how to connect with your kids every day
The 5 Magic Hours: how to connect with your kids every day
Excerpts:
Without further ado, here are the 5 things you can do to connect with your children:
1. Partings – Don’t leave in the morning, or drop them off, until you know one interesting thing coming up in your child’s or teen’s day (2 minutes x 5 days a week = 10 minutes a week)
2. Reunions – Take 10 minutes a day (per child) to talk about their day (1 hr and 40 min a week)
3. Admiration and Appreciation – Find some way to genuinely communicate affection and appreciation to your children or teen every day, for 5 minutes a day, 7 days a week (35 minutes
4. Affection – Kiss, hug, hold, tickle, or play with your kids every day, always include a good night kiss, and resolve any anger before sending your child or teen to bed; 5 minutes a day, 7 days a week (35 minutes)
5. Family Time – set aside 2 hours of uninterrupted family time each week; this can be your family meeting, game night, hike, etc but it CAN NOT include video games, movies, TV or phone calls (these dramatically reduce interaction, which is the opposite of your goal)
Are you wondering how to fit these into your day? Partings can easily be done in the car or at the breakfast table. Reunions can also be done while driving home or around the dinner table. We have a 2 best/1 worst time at dinner every evening where each person gets time to talk about the worst thing that happened to them during the day, followed by the two best. This is also a great time to admire and appreciate your kids for handling bad things well or achieving something positive. There is a bonus for family dinner time, too! Research has been conducted to determine what National Merit Scholars (the most academically successful students in our country) have in common. National Merit Scholars come from varying races, socioeconomic classes, regions, and schools. The only common thread found, and it was found with EVERY National Merit Scholar, was a daily, uninterrupted family dinner hour that was full of conversation (Levy, 1996).
Read full Post: http://www.examiner.com/x-11512-Anchorage-Parenting-Examiner~y2009m6d17-The-5-Magic-Hours-how-to-connect-with-your-kids-every-day
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Excerpts:
Without further ado, here are the 5 things you can do to connect with your children:
1. Partings – Don’t leave in the morning, or drop them off, until you know one interesting thing coming up in your child’s or teen’s day (2 minutes x 5 days a week = 10 minutes a week)
2. Reunions – Take 10 minutes a day (per child) to talk about their day (1 hr and 40 min a week)
3. Admiration and Appreciation – Find some way to genuinely communicate affection and appreciation to your children or teen every day, for 5 minutes a day, 7 days a week (35 minutes
4. Affection – Kiss, hug, hold, tickle, or play with your kids every day, always include a good night kiss, and resolve any anger before sending your child or teen to bed; 5 minutes a day, 7 days a week (35 minutes)
5. Family Time – set aside 2 hours of uninterrupted family time each week; this can be your family meeting, game night, hike, etc but it CAN NOT include video games, movies, TV or phone calls (these dramatically reduce interaction, which is the opposite of your goal)
Are you wondering how to fit these into your day? Partings can easily be done in the car or at the breakfast table. Reunions can also be done while driving home or around the dinner table. We have a 2 best/1 worst time at dinner every evening where each person gets time to talk about the worst thing that happened to them during the day, followed by the two best. This is also a great time to admire and appreciate your kids for handling bad things well or achieving something positive. There is a bonus for family dinner time, too! Research has been conducted to determine what National Merit Scholars (the most academically successful students in our country) have in common. National Merit Scholars come from varying races, socioeconomic classes, regions, and schools. The only common thread found, and it was found with EVERY National Merit Scholar, was a daily, uninterrupted family dinner hour that was full of conversation (Levy, 1996).
Read full Post: http://www.examiner.com/x-11512-Anchorage-Parenting-Examiner~y2009m6d17-The-5-Magic-Hours-how-to-connect-with-your-kids-every-day
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Wednesday, June 17, 2009
Is Uncertainty Controlling You?
June 15, 2009 Happiness Newsletter
Is Uncertainty Controlling You?
By Lionel Ketchian >
One truth that we can all agree on is the fact that we live in an uncertain world. It seems that this is more true now more than ever before. Maybe we have always lived in an uncertain world. It is only now with the events we are experiencing that this fact is made even more real to us. >
In 2003, I read a great book titled Embracing Uncertainty by Susan Jeffers, Ph.D. This book is about exploring, understanding, and coping with the anxiety that most people feel, regarding the uncertain nature of everyday life. Susan wrote another great book that you may recognize. It is called Feel The Fear And Do It Anyway. It was also a truly wonderful and empowering book, and was the first of many books she has written. >
I had the opportunity of doing an interview with Dr. Susan Jeffers in 2003. Some of the things you should know about Susan are that she is a thinker, and that she has a wonderful way of putting her thoughts into a book. You can benefit from the wisdom she acquired from her experiences. Susan really understands the basis of happiness, and explains, "Always remember that how we live our lives is a personal decision, not something that is put upon us from the outside world." >
She discusses ways to create a "WONDERING LIFE" instead of a "HOPING LIFE." Instead of hoping things are different, you can learn to create a wondering mind and wonder how things will turn out, rather than worry about how they will turn out. This gives you the power of detaching yourself from the outcome and reducing your stress, anxiousness, worry and fear. >
Dr. Jeffers recommends that people, "CHOOSE THE PATH OF TRUST." What does she mean by choosing the path of trust? Susan says: "When you fully understand that you have little control in the external world, you then have two choices: you can choose to see yourself as a poor-me victim at the mercy of circumstances...or you can choose to develop the trust that, no matter what happens in your life or in the world, you will have the inner strength to create something good from it all. Hopefully you will choose the latter!" >
I have found much agreement with Susan's thoughts. Here is another good example: "It makes us so much happier when we don't have the need to be right. Trust me when I tell you that you will feel so much freer with the power of MAYBE." Susan introduces this interesting concept, "the power of MAYBE," in her book. Susan goes on to say, "You notice that I haven't mentioned peace of mind, joy, fun, creativity, or spontaneity. That is because these wonderful feelings go with a lack of expectations. The irony is that while we think our expectations are giving us a measure of control, our expectations are really controlling us!" >
Can you imagine not letting worry get the best of you? You will, if you understand what Dr. Jeffers says, "When you're feeling lousy about something happening in your life or in the world, it isn't about the something happening that is the problem, it's your inability to let go of the expectation of how it's supposed to be." She gives us the wisdom to understand that we can have more control, by realizing we do not have control of the outside world, or the many things that can happen that we wish would not happen. > Susan teaches us, "When attached to outcomes, by definition, we are attached to unhappiness. As hard as we try, as fast as we go, we can never feel the security of being in control of the outside world. When we break our attachment to our expectations of control, we become happier people. If you knew you could find happiness in whatever state you found yourself -- ill health or good health, rich or poor, in a great relationship or not, and so on -- then your worry about the uncertainty in your life would be greatly diminished." >
Dr. Jeffers advises us to, "INCREASE YOUR INNER SENSE OF POWER. One way to help you develop trust in yourself is to cut off the negativity of the mind by saying to yourself over and over again, Whatever happens in my life, I'll handle it! While we can't control the world around us, we can certainly learn how to respond to all things -- yes, ALL THINGS - in a health-affirming way. We have the power to create a life that feels good, rather than one that feels bad -- despite the actual circumstances in our lives and in our world." Do you feel that life has treated you less than fairly? Well, as Dr. Jeffers says, "The prime cause of our suffering is our wanting things to be different from what they are! Happiness is the best revenge!" >
Read full article: http://campaign.constantcontact.com/render?v=001dVPWlkg289mKZYfHkOaaGYFcAl9n58Ul3i12C5I200occK8ncD-fJk_mGAWzFGoDl_5V51DpULA5rE9fLaEnar5k-Ks3WXJ4cDiVuqWS1T0yurAKd90Tlg%3D%3D
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Is Uncertainty Controlling You?
By Lionel Ketchian >
One truth that we can all agree on is the fact that we live in an uncertain world. It seems that this is more true now more than ever before. Maybe we have always lived in an uncertain world. It is only now with the events we are experiencing that this fact is made even more real to us. >
In 2003, I read a great book titled Embracing Uncertainty by Susan Jeffers, Ph.D. This book is about exploring, understanding, and coping with the anxiety that most people feel, regarding the uncertain nature of everyday life. Susan wrote another great book that you may recognize. It is called Feel The Fear And Do It Anyway. It was also a truly wonderful and empowering book, and was the first of many books she has written. >
I had the opportunity of doing an interview with Dr. Susan Jeffers in 2003. Some of the things you should know about Susan are that she is a thinker, and that she has a wonderful way of putting her thoughts into a book. You can benefit from the wisdom she acquired from her experiences. Susan really understands the basis of happiness, and explains, "Always remember that how we live our lives is a personal decision, not something that is put upon us from the outside world." >
She discusses ways to create a "WONDERING LIFE" instead of a "HOPING LIFE." Instead of hoping things are different, you can learn to create a wondering mind and wonder how things will turn out, rather than worry about how they will turn out. This gives you the power of detaching yourself from the outcome and reducing your stress, anxiousness, worry and fear. >
Dr. Jeffers recommends that people, "CHOOSE THE PATH OF TRUST." What does she mean by choosing the path of trust? Susan says: "When you fully understand that you have little control in the external world, you then have two choices: you can choose to see yourself as a poor-me victim at the mercy of circumstances...or you can choose to develop the trust that, no matter what happens in your life or in the world, you will have the inner strength to create something good from it all. Hopefully you will choose the latter!" >
I have found much agreement with Susan's thoughts. Here is another good example: "It makes us so much happier when we don't have the need to be right. Trust me when I tell you that you will feel so much freer with the power of MAYBE." Susan introduces this interesting concept, "the power of MAYBE," in her book. Susan goes on to say, "You notice that I haven't mentioned peace of mind, joy, fun, creativity, or spontaneity. That is because these wonderful feelings go with a lack of expectations. The irony is that while we think our expectations are giving us a measure of control, our expectations are really controlling us!" >
Can you imagine not letting worry get the best of you? You will, if you understand what Dr. Jeffers says, "When you're feeling lousy about something happening in your life or in the world, it isn't about the something happening that is the problem, it's your inability to let go of the expectation of how it's supposed to be." She gives us the wisdom to understand that we can have more control, by realizing we do not have control of the outside world, or the many things that can happen that we wish would not happen. > Susan teaches us, "When attached to outcomes, by definition, we are attached to unhappiness. As hard as we try, as fast as we go, we can never feel the security of being in control of the outside world. When we break our attachment to our expectations of control, we become happier people. If you knew you could find happiness in whatever state you found yourself -- ill health or good health, rich or poor, in a great relationship or not, and so on -- then your worry about the uncertainty in your life would be greatly diminished." >
Dr. Jeffers advises us to, "INCREASE YOUR INNER SENSE OF POWER. One way to help you develop trust in yourself is to cut off the negativity of the mind by saying to yourself over and over again, Whatever happens in my life, I'll handle it! While we can't control the world around us, we can certainly learn how to respond to all things -- yes, ALL THINGS - in a health-affirming way. We have the power to create a life that feels good, rather than one that feels bad -- despite the actual circumstances in our lives and in our world." Do you feel that life has treated you less than fairly? Well, as Dr. Jeffers says, "The prime cause of our suffering is our wanting things to be different from what they are! Happiness is the best revenge!" >
Read full article: http://campaign.constantcontact.com/render?v=001dVPWlkg289mKZYfHkOaaGYFcAl9n58Ul3i12C5I200occK8ncD-fJk_mGAWzFGoDl_5V51DpULA5rE9fLaEnar5k-Ks3WXJ4cDiVuqWS1T0yurAKd90Tlg%3D%3D
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
The CEO As Storyteller In Chief - Forbes.com
The CEO As Storyteller In Chief - Forbes.com
The CEO As Storyteller In Chief
Sangeeth Varghese, 06.15.09, 04:00 PM EDT
Great leaders get there partly by telling great tales.
Excerpts:
In the business world, many successful top executives are very good storytellers. They entice us with their stories all the time, telling us how they started their businesses, what they stand for and where they are going.
Explanatory 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.
Storytelling can be extremely effective at simplifying complexities. It can help us reveal and assess the assumptions, values and beliefs behind new ideas and connect them to our world. So a company's mission is not just to sell more and better coffee; it is to share the passion that fills that cup.
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. As it does so, it creates a community.
A CEO who has a great story and tells it has a much easier time reaching out to people, connecting to them and creating a sustainable community of them, than anyone who relies entirely on data points and charts has.
Read full article: http://www.forbes.com/2009/06/15/ceo-storytelling-communication-leadership-ceonetork-varghese.html?partner=executive_picks_newsletter
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
The CEO As Storyteller In Chief
Sangeeth Varghese, 06.15.09, 04:00 PM EDT
Great leaders get there partly by telling great tales.
Excerpts:
In the business world, many successful top executives are very good storytellers. They entice us with their stories all the time, telling us how they started their businesses, what they stand for and where they are going.
Explanatory 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.
Storytelling can be extremely effective at simplifying complexities. It can help us reveal and assess the assumptions, values and beliefs behind new ideas and connect them to our world. So a company's mission is not just to sell more and better coffee; it is to share the passion that fills that cup.
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. As it does so, it creates a community.
A CEO who has a great story and tells it has a much easier time reaching out to people, connecting to them and creating a sustainable community of them, than anyone who relies entirely on data points and charts has.
Read full article: http://www.forbes.com/2009/06/15/ceo-storytelling-communication-leadership-ceonetork-varghese.html?partner=executive_picks_newsletter
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Tuesday, June 16, 2009
Conning Research: Property-Casualty Industry 2008 Loss Reserves Remain Strong, but Weaker than 2007
Conning Research: Property-Casualty Industry 2008 Loss Reserves Remain Strong, but Weaker than 2007
Conning Research: Property-Casualty Industry 2008 Loss Reserves Remain Strong, but Weaker than 2007 >
Posted : Tue, 16 Jun 2009 13:03:18 GMT Author : Conning Research & Consulting >
HARTFORD, Conn., June 16 CT-Conning-Research >
- Industry released more than $14 billion from reserves, excluding massive reserve additions to mortgage guarantee lines - double 2007 level >
HARTFORD, Conn., June 16 /PRNewswire/ -- While the property-casualty industry still appears to have sufficient reserves, the overall position deteriorated in 2008, continuing a trend that began in 2007, according to a new study by Conning Research and Consulting. >
"Significant releases occurred in most lines of business, with an average benefit of almost three points in calendar-year loss ratio, compared with what would have been reported had no releases taken place," said Stephan Christiansen, director of research at Conning Research & Consulting. "The most significant releases, in terms of dollars, were in the most recent accident years of liability lines, and in workers' compensation. These lines are the most difficult to assess, and future rates of settlement and claim emergence must be watched closely." >
The Conning Research study, "Property-Casualty Loss Reserves: Once More to the Well," analyzes statutory data from Schedule P as part of Conning's ongoing annual industry review of the property-casualty industry's balance sheet position. >
"Overall, the industry appears to continue to have sufficient reserves under reasonable assumptions of claims settlement patterns," said Christiansen. "Older years (for accident years prior to 1999) continue to develop adversely, but the pace of development has slowed considerably. The older-year reserves have been massively strengthened over the past several years and it is possible that the industry has now caught up to the need in this 'tail' portion of the reserves. However, the remaining reserves specifically set aside for latent claims such as asbestos and environmental liabilities appear thinner than in previous years, relative to recent settlement levels." >
"Property-Casualty Loss Reserves: Once More to the Well" is available for purchase from Conning Research & Consulting, by calling (888) 707-1177 or by visiting the company's web site at http://www.conningresearch.com/. >
About Conning Research & Consulting >
Conning Research & Consulting provides insurance industry analysis to insurers and industry stakeholders. Its published research includes market coverage of 30 segments of the industry in addition to industry forecasting and identification and analysis of major strategic issues. As a result of its wealth of experience and intimate knowledge of the insurance industry, Conning understands industry challenges and opportunities and provides in-depth analyses on a wide range of industry products and issues. The Conning name has represented excellence in independent insurance industry research for 50 years. Conning Research & Consulting is a division of Conning, a provider of asset management and insurance industry research and consulting services to insurers. Conning is headquartered in Hartford, CT. >
Contact:Anne Steinberg
Kitchen Public Relations, LLC212-687-8999anne@kitchenpr.com >
SOURCE Conning Research & Consulting
Read full posting: http://www.earthtimes.org/articles/show/conning-research-property-casualty-industry-2008,862373.shtml
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Conning Research: Property-Casualty Industry 2008 Loss Reserves Remain Strong, but Weaker than 2007 >
Posted : Tue, 16 Jun 2009 13:03:18 GMT Author : Conning Research & Consulting >
HARTFORD, Conn., June 16 CT-Conning-Research >
- Industry released more than $14 billion from reserves, excluding massive reserve additions to mortgage guarantee lines - double 2007 level >
HARTFORD, Conn., June 16 /PRNewswire/ -- While the property-casualty industry still appears to have sufficient reserves, the overall position deteriorated in 2008, continuing a trend that began in 2007, according to a new study by Conning Research and Consulting. >
"Significant releases occurred in most lines of business, with an average benefit of almost three points in calendar-year loss ratio, compared with what would have been reported had no releases taken place," said Stephan Christiansen, director of research at Conning Research & Consulting. "The most significant releases, in terms of dollars, were in the most recent accident years of liability lines, and in workers' compensation. These lines are the most difficult to assess, and future rates of settlement and claim emergence must be watched closely." >
The Conning Research study, "Property-Casualty Loss Reserves: Once More to the Well," analyzes statutory data from Schedule P as part of Conning's ongoing annual industry review of the property-casualty industry's balance sheet position. >
"Overall, the industry appears to continue to have sufficient reserves under reasonable assumptions of claims settlement patterns," said Christiansen. "Older years (for accident years prior to 1999) continue to develop adversely, but the pace of development has slowed considerably. The older-year reserves have been massively strengthened over the past several years and it is possible that the industry has now caught up to the need in this 'tail' portion of the reserves. However, the remaining reserves specifically set aside for latent claims such as asbestos and environmental liabilities appear thinner than in previous years, relative to recent settlement levels." >
"Property-Casualty Loss Reserves: Once More to the Well" is available for purchase from Conning Research & Consulting, by calling (888) 707-1177 or by visiting the company's web site at http://www.conningresearch.com/. >
About Conning Research & Consulting >
Conning Research & Consulting provides insurance industry analysis to insurers and industry stakeholders. Its published research includes market coverage of 30 segments of the industry in addition to industry forecasting and identification and analysis of major strategic issues. As a result of its wealth of experience and intimate knowledge of the insurance industry, Conning understands industry challenges and opportunities and provides in-depth analyses on a wide range of industry products and issues. The Conning name has represented excellence in independent insurance industry research for 50 years. Conning Research & Consulting is a division of Conning, a provider of asset management and insurance industry research and consulting services to insurers. Conning is headquartered in Hartford, CT. >
Contact:Anne Steinberg
Kitchen Public Relations, LLC212-687-8999anne@kitchenpr.com >
SOURCE Conning Research & Consulting
Read full posting: http://www.earthtimes.org/articles/show/conning-research-property-casualty-industry-2008,862373.shtml
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
(Good) CEOs Are Underpaid - How To Fix Executive Pay - Harvard Business Review
(Good) CEOs Are Underpaid - How To Fix Executive Pay - Harvard Business Review
Harvard Business Review
Voices » HBR Voices » How To Fix Executive Pay »
(Good) CEOs Are Underpaid >
How To Fix Executive Pay (Good) CEOs Are Underpaid9:00 AM Monday June 15, 2009
by Steve Kaplan>
The financial crisis and the recession have turned up the heat on U.S. corporate boards, exposing them to intense criticism for their decisions on executive compensation. But the evidence indicates that CEOs typically aren't overpaid - in fact, good CEOs may be underpaid.>
My research with Josh Rauh reveals that CEO pay has failed to keep pace with the rising compensation of top hedge fund managers, investment bankers, private equity investors, money managers, and lawyers. >
Here are a few data points that may surprise the politicians and other commentators who demonize boards and their highly paid CEOs:>
> The pay of other groups has increased substantially since the mid-1990s, and by at least the same order of magnitude as the CEOs'--evidence that CEOs aren't benefiting from cozy relationships with boards.>
> CEO pay in the U.S. peaked around 2000. Average pay has declined since then while median pay has been flat. Average and median pay for S&P 500 CEOs declined in 2008 and are likely to do so again in 2009.>
> CEOs made up only about 3% of the people with the top 0.1% of U.S. adjusted gross income in 2004-2005, a fraction that was little changed from a decade earlier. >
> The S&P 500 CEOs' fraction of the total income earned by the top 0.1% declined markedly from 1.2% in 2001 to 0.60% in 2006. That fraction is likely to have declined further in 2007 and 2008. >
> The top 20 hedge fund managers earned more than $20 billion in 2007, substantially more than the $7.5 billion combined income of all of the 500 CEOs of the S&P 500. >
> Take home pay for CEOs is strongly related to performance. >
Employment on Wall Street is a very real alternative for CEOs and top executives--many of the most successful corporate chief executives have moved to private equity firms as advisers or investors. Boards are well aware that they need to pay the going rate in order to attract and keep top executives. On the whole, they respond rationally to the inexorable force of the talent market. >
Steve Kaplan is the Neubauer Family Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business.>
Read full Post: http://blogs.harvardbusiness.org/hbr/how-to-fix-executive-pay/2009/06/good-ceos-are-underpaid.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Harvard Business Review
Voices » HBR Voices » How To Fix Executive Pay »
(Good) CEOs Are Underpaid >
How To Fix Executive Pay (Good) CEOs Are Underpaid9:00 AM Monday June 15, 2009
by Steve Kaplan>
The financial crisis and the recession have turned up the heat on U.S. corporate boards, exposing them to intense criticism for their decisions on executive compensation. But the evidence indicates that CEOs typically aren't overpaid - in fact, good CEOs may be underpaid.>
My research with Josh Rauh reveals that CEO pay has failed to keep pace with the rising compensation of top hedge fund managers, investment bankers, private equity investors, money managers, and lawyers. >
Here are a few data points that may surprise the politicians and other commentators who demonize boards and their highly paid CEOs:>
> The pay of other groups has increased substantially since the mid-1990s, and by at least the same order of magnitude as the CEOs'--evidence that CEOs aren't benefiting from cozy relationships with boards.>
> CEO pay in the U.S. peaked around 2000. Average pay has declined since then while median pay has been flat. Average and median pay for S&P 500 CEOs declined in 2008 and are likely to do so again in 2009.>
> CEOs made up only about 3% of the people with the top 0.1% of U.S. adjusted gross income in 2004-2005, a fraction that was little changed from a decade earlier. >
> The S&P 500 CEOs' fraction of the total income earned by the top 0.1% declined markedly from 1.2% in 2001 to 0.60% in 2006. That fraction is likely to have declined further in 2007 and 2008. >
> The top 20 hedge fund managers earned more than $20 billion in 2007, substantially more than the $7.5 billion combined income of all of the 500 CEOs of the S&P 500. >
> Take home pay for CEOs is strongly related to performance. >
Employment on Wall Street is a very real alternative for CEOs and top executives--many of the most successful corporate chief executives have moved to private equity firms as advisers or investors. Boards are well aware that they need to pay the going rate in order to attract and keep top executives. On the whole, they respond rationally to the inexorable force of the talent market. >
Steve Kaplan is the Neubauer Family Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business.>
Read full Post: http://blogs.harvardbusiness.org/hbr/how-to-fix-executive-pay/2009/06/good-ceos-are-underpaid.html
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Commercial Property & Casualty Insurance Prices Experience Smallest Decline in Four Years, According to Towers Perrin Survey
Commercial Property & Casualty Insurance Prices Experience Smallest Decline in Four Years, According to Towers Perrin Survey
June 15, 2009 09:00 AM Eastern Daylight Time
Commercial Property & Casualty Insurance Prices Experience Smallest Decline in Four Years, According to Towers Perrin Survey
Prices Nearly Flat in First Quarter; Directors and Officers, Property Among Segments Showing Increases
STAMFORD, Conn.--(BUSINESS WIRE)--The smallest decline in commercial property & casualty (P&C) insurance prices in four years – less than 1% – provides increasing evidence that the soft market is reaching its end, according to Towers Perrin’s most recent commercial lines insurance pricing and profitability trends survey (CLIPS).
Prices for property and directors and officers (D&O) liability actually rose – albeit slightly – in the first quarter of 2009. Prices for large accounts – those with annual premiums in excess of $50,000 – also increased during the first quarter. This upturn in prices is not surprising, as large account prices eroded substantially more than middle-market and small accounts in 2007 and 2008. In contrast, small-account commercial prices continued their pattern of steady, but smaller, decreases.
None of the surveyed lines saw a deepening of price reductions from the fourth quarter of 2008 and, for lines where prices fell, all first quarter decreases were in the low single digits.
“Premiums in many lines may be falling faster than prices in some segments of the market – because lower payrolls, receipts, miles driven and other measures of exposures are declining due to the current economic climate,” said Stephen Lowe, Managing Director of Towers Perrin’s global property & casualty insurance consulting practice. “This reduced exposure from economic conditions may account for some of the disparity between the CLIPS survey results and the surveys published by the insurance brokers.
“More qualitatively, anecdotal evidence indicates that property insurance prices are continuing to rise in catastrophe-prone areas and declining slightly in non-catastrophe areas,” added Mr. Lowe. “This trend reflects the continuing high cost of property catastrophe reinsurance.”
Year to date through the first quarter, CLIPS data indicate that accident-year 2009 loss ratios deteriorated 11% relative to 2008. This deterioration comes on top of an estimated deterioration for accident-year 2008 of 9% over 2007. Increases in claim costs and the "earning" of the price decreases taken in the last four quarters both contributed to loss ratio deterioration for 2009.
About CLIPS
CLIPS data are based on both new and renewal business figures – when available – obtained directly from carriers underwriting the business, and indicate more conservative price reductions than other marketplace surveys.
This particular survey compared prices charged on policies underwritten during the first quarter of 2009 to the prices charged for the same coverage during the same quarter in 2008.
CLIPS participants represent a cross section of U.S. property & casualty insurers that include many of both the top 10 commercial lines companies and the top 25 insurance groups in the U.S. CLIPS’ measurement of both pricing changes and loss ratio changes also sets it apart from other studies.
Participation in CLIPS has been increasing, as carriers believe it provides a more accurate picture of price changes and find it useful in setting assumptions for estimates of their claim liabilities.
The survey results track the differing trends in pricing across various regions, lines of business, and account sizes on a quarterly basis. Historically, price level and loss ratio change results vary considerably by line of business and market segment.
About Towers Perrin
Towers Perrin is a global professional services firm that helps organizations improve performance through effective people, risk and financial management. The firm provides innovative solutions in the areas of human capital strategy, program design and management, and in the areas of risk and capital management, insurance and reinsurance intermediary services, and actuarial consulting. Towers Perrin has offices and alliance partners in the United States, Canada, Europe, Asia, Latin America, South Africa, Australia, New Zealand and the Middle East. More information about Towers Perrin is available at http://www.towersperrin.com/.
Contacts
Towers PerrinMichael McNamara, 914-745-4126mailto:914-745-4126michael.mcnamara@towersperrin.com
Permalink: http://www.businesswire.com/news/google/20090615005629/en
***********************************************************************
This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
June 15, 2009 09:00 AM Eastern Daylight Time
Commercial Property & Casualty Insurance Prices Experience Smallest Decline in Four Years, According to Towers Perrin Survey
Prices Nearly Flat in First Quarter; Directors and Officers, Property Among Segments Showing Increases
STAMFORD, Conn.--(BUSINESS WIRE)--The smallest decline in commercial property & casualty (P&C) insurance prices in four years – less than 1% – provides increasing evidence that the soft market is reaching its end, according to Towers Perrin’s most recent commercial lines insurance pricing and profitability trends survey (CLIPS).
Prices for property and directors and officers (D&O) liability actually rose – albeit slightly – in the first quarter of 2009. Prices for large accounts – those with annual premiums in excess of $50,000 – also increased during the first quarter. This upturn in prices is not surprising, as large account prices eroded substantially more than middle-market and small accounts in 2007 and 2008. In contrast, small-account commercial prices continued their pattern of steady, but smaller, decreases.
None of the surveyed lines saw a deepening of price reductions from the fourth quarter of 2008 and, for lines where prices fell, all first quarter decreases were in the low single digits.
“Premiums in many lines may be falling faster than prices in some segments of the market – because lower payrolls, receipts, miles driven and other measures of exposures are declining due to the current economic climate,” said Stephen Lowe, Managing Director of Towers Perrin’s global property & casualty insurance consulting practice. “This reduced exposure from economic conditions may account for some of the disparity between the CLIPS survey results and the surveys published by the insurance brokers.
“More qualitatively, anecdotal evidence indicates that property insurance prices are continuing to rise in catastrophe-prone areas and declining slightly in non-catastrophe areas,” added Mr. Lowe. “This trend reflects the continuing high cost of property catastrophe reinsurance.”
Year to date through the first quarter, CLIPS data indicate that accident-year 2009 loss ratios deteriorated 11% relative to 2008. This deterioration comes on top of an estimated deterioration for accident-year 2008 of 9% over 2007. Increases in claim costs and the "earning" of the price decreases taken in the last four quarters both contributed to loss ratio deterioration for 2009.
About CLIPS
CLIPS data are based on both new and renewal business figures – when available – obtained directly from carriers underwriting the business, and indicate more conservative price reductions than other marketplace surveys.
This particular survey compared prices charged on policies underwritten during the first quarter of 2009 to the prices charged for the same coverage during the same quarter in 2008.
CLIPS participants represent a cross section of U.S. property & casualty insurers that include many of both the top 10 commercial lines companies and the top 25 insurance groups in the U.S. CLIPS’ measurement of both pricing changes and loss ratio changes also sets it apart from other studies.
Participation in CLIPS has been increasing, as carriers believe it provides a more accurate picture of price changes and find it useful in setting assumptions for estimates of their claim liabilities.
The survey results track the differing trends in pricing across various regions, lines of business, and account sizes on a quarterly basis. Historically, price level and loss ratio change results vary considerably by line of business and market segment.
About Towers Perrin
Towers Perrin is a global professional services firm that helps organizations improve performance through effective people, risk and financial management. The firm provides innovative solutions in the areas of human capital strategy, program design and management, and in the areas of risk and capital management, insurance and reinsurance intermediary services, and actuarial consulting. Towers Perrin has offices and alliance partners in the United States, Canada, Europe, Asia, Latin America, South Africa, Australia, New Zealand and the Middle East. More information about Towers Perrin is available at http://www.towersperrin.com/.
Contacts
Towers PerrinMichael McNamara, 914-745-4126mailto:914-745-4126michael.mcnamara@towersperrin.com
Permalink: http://www.businesswire.com/news/google/20090615005629/en
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Monday, June 15, 2009
Hay Group : Strategies for executive compensation in today’s dramatically changing environment
Hay Group : Strategies for executive compensation in today’s dramatically changing environment
The Directors Roundtable, June 2009, Boston
Executive compensation is a critical issue both for board compensation committees granting compensation packages and for executives receiving them. The new administration is proposing major changes in executive compensation. They include higher taxes; shareholder voting on pay packages; broader disclosure; tougher enforcement; and control over bonuses in companies receiving government funds.
Executives are concerned about total compensation, salary, bonuses, clawbacks, performance incentives, benefits, retirement, and golden parachutes. Thus, Boards are challenged to balance the need to attract and retain talented top management; deal with the demands of activist shareholders; and comply with the disclosure and enforcement requirements by the SEC and Congress. These distinguished speakers will share their expertise regarding these key issues and recommend strategies and best practices based on their experiences in the boardroom.
Hay Group will present its recent findings from The Wall Street Journal/Hay Group CEO Compensation Study. The Directors Roundtable is a civic group which organizes the preeminent worldwide programming for Directors and their advisors. Appreciation is given to Hay Group for making available their thought leadership materials at www.haygroup.com/wsj.
Distinguished speakers:
- Harvard Business SchoolProf. V.G. Narayanan, Thomas D. Casserly, Jr. Professor of Business AdministrationDownload slides
- Hay GroupIrv Becker, National Practice Leader - Executive CompensationEric Turzak, Senior Consultant – Executive CompensationDownload slides
- Shearman & Sterling LLPLinda Rappaport, Partner and Global Practice Group Leader – Executive CompensationDoreen Lilienfeld, Partner – Executive CompensationDownload slides
Access This Posting: http://www.haygroup.com/ww/downloads/Details.aspx?ID=20342
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
The Directors Roundtable, June 2009, Boston
Executive compensation is a critical issue both for board compensation committees granting compensation packages and for executives receiving them. The new administration is proposing major changes in executive compensation. They include higher taxes; shareholder voting on pay packages; broader disclosure; tougher enforcement; and control over bonuses in companies receiving government funds.
Executives are concerned about total compensation, salary, bonuses, clawbacks, performance incentives, benefits, retirement, and golden parachutes. Thus, Boards are challenged to balance the need to attract and retain talented top management; deal with the demands of activist shareholders; and comply with the disclosure and enforcement requirements by the SEC and Congress. These distinguished speakers will share their expertise regarding these key issues and recommend strategies and best practices based on their experiences in the boardroom.
Hay Group will present its recent findings from The Wall Street Journal/Hay Group CEO Compensation Study. The Directors Roundtable is a civic group which organizes the preeminent worldwide programming for Directors and their advisors. Appreciation is given to Hay Group for making available their thought leadership materials at www.haygroup.com/wsj.
Distinguished speakers:
- Harvard Business SchoolProf. V.G. Narayanan, Thomas D. Casserly, Jr. Professor of Business AdministrationDownload slides
- Hay GroupIrv Becker, National Practice Leader - Executive CompensationEric Turzak, Senior Consultant – Executive CompensationDownload slides
- Shearman & Sterling LLPLinda Rappaport, Partner and Global Practice Group Leader – Executive CompensationDoreen Lilienfeld, Partner – Executive CompensationDownload slides
Access This Posting: http://www.haygroup.com/ww/downloads/Details.aspx?ID=20342
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Using Psychology To Save You From Yourself : NPR
Using Psychology To Save You From Yourself : NPR
Using Psychology To Save You From Yourself
by Alix Spiegel
This is the story of how obscure psychological research into human decision-making first revolutionized economics and now appears poised to remake the relationship between the government and its citizens.
Read full article: http://www.npr.org/templates/story/story.php?storyId=104803094
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Using Psychology To Save You From Yourself
by Alix Spiegel
This is the story of how obscure psychological research into human decision-making first revolutionized economics and now appears poised to remake the relationship between the government and its citizens.
Read full article: http://www.npr.org/templates/story/story.php?storyId=104803094
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
David and Goliath and The Good Life | Psychology Today
David and Goliath and The Good Life Psychology Today
Happiness
David and Goliath and The Good Life
By Christopher Peterson, Ph.D. on June 14, 2009 - 5:37pm in The Good Life
Excerpts:
In the May 11, 2009, issue of the New Yorker, Malcolm Gladwell wrote an essay titled "How David Beat Goliath." The subtitle of the essay is provocative: "When Underdogs Break the Rules."
Life is even more complicated. We want to play to win - be happy - but there are few explicit rules yet implicit rules galore.>
Consider those we know who are passionate, who live life fully. They laugh readily, and they cry just as easily. They hug us when we need it. They yell at us when we need it. They never - and I mean never - fail to say please and thank you. So, how do we regard them behind their backs? We may roll our eyes. People are not supposed to do that! >
Shame on us.>
What's the positive psychology point? Be tolerant of those who do things differently and well, as long as what they do is neither immoral nor illegal. Indeed, celebrate them. You might actually learn something about the good life.>
Most of you, like me, are a David and not a Goliath. I hope we all have the requisite stones (as it were) to pursue a life worth living. It doesn't matter if we have a mundane job, an unremarkable spouse, or really ordinary children. Put a full-court press on life! >
Read full Post:http://www.psychologytoday.com/blog/the-good-life/200906/david-and-goliath-and-the-good-life
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
Happiness
David and Goliath and The Good Life
By Christopher Peterson, Ph.D. on June 14, 2009 - 5:37pm in The Good Life
Excerpts:
In the May 11, 2009, issue of the New Yorker, Malcolm Gladwell wrote an essay titled "How David Beat Goliath." The subtitle of the essay is provocative: "When Underdogs Break the Rules."
Life is even more complicated. We want to play to win - be happy - but there are few explicit rules yet implicit rules galore.>
Consider those we know who are passionate, who live life fully. They laugh readily, and they cry just as easily. They hug us when we need it. They yell at us when we need it. They never - and I mean never - fail to say please and thank you. So, how do we regard them behind their backs? We may roll our eyes. People are not supposed to do that! >
Shame on us.>
What's the positive psychology point? Be tolerant of those who do things differently and well, as long as what they do is neither immoral nor illegal. Indeed, celebrate them. You might actually learn something about the good life.>
Most of you, like me, are a David and not a Goliath. I hope we all have the requisite stones (as it were) to pursue a life worth living. It doesn't matter if we have a mundane job, an unremarkable spouse, or really ordinary children. Put a full-court press on life! >
Read full Post:http://www.psychologytoday.com/blog/the-good-life/200906/david-and-goliath-and-the-good-life
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This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.
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