Tag Archive | "pension risk"

Guilt Free II – Business Protects Pensions


Your ability to serve is ultimately the greatest (and most fulfilling) form of pension protection.

Yesterday’s message “Guilt Free Business”  looked at three problems, low interest rates, high equity prices and big business fines that are paid for by shareholders.  The two solutions viewed were a relentless search for equity value and a pinnacle career micro business.

Gallup Pole

Gallup Poll (1) showing a huge fall in public trust. Click on image to enlarge.

The masses are losing faith in big government and big business.  The wisdom of the masses is correct. We cannot and should not trust big government or big business to look after our future.  Recently, the CDC, health insurance system, the IRS, the Secret Service, and the Veteran’s Department to name a few government agencies have all let the public down.  This is likely the tip of the iceberg.

The loss of confidence should flow into the managers of our pensions, public and private also.   There are irregularities by pension managers that are being paid for by pensioners, rather than the managers.

A New York Times article “Behind Private Equity’s Curtain” by Gretchen Morgenson reveals a glimpse of how this puts pensions at risk.

The article says:  From New York to California, Wisconsin to Texas, hundreds of thousands of teachers, firefighters, police officers and other public employees are relying on their pensions for financial security.

Private equity firms are relying on their pensions, too. Over the last 10 years, pension funds have piled into private equity buyout funds. But in exchange for what they hope will be hefty returns, many pension funds have signed onto a kind of omerta, or code of silence, about the terms of the funds’ investments.
Consider a recent legal battle involving the Carlyle Group.

In August, Carlyle settled a lawsuit contending that it and other large buyout firms had colluded to suppress the share prices of companies they were acquiring. The lawsuit ensnared some big names in private equity — Bain Capital, Kohlberg Kravis Roberts and TPG, as well as Carlyle — but one by one the firms settled, without admitting wrongdoing. Carlyle agreed to pay $115 million in the settlement.

But the firm didn’t shoulder those costs. Nor did Carlyle executives or shareholders.

Instead, investors in Carlyle Partners IV, a $7.8 billion buyout fund started in 2004, will bear the settlement costs that are not covered by insurance. Those investors include retired state and city employees in California, Illinois, Louisiana, Ohio, Texas and 10 other states. Five New York City and state pensions are among them.

The retirees — and people who are currently working but have accrued benefits in those pension funds — probably don’t know that they are responsible for these costs. It would be very hard for them to find out: Their legal obligations are detailed in private equity documents that are confidential and off limits to pensioners and others interested in seeing them.

But the terms of these deals — including what investors pay to participate in them — are hidden from view despite open-records laws requiring transparency from state governments, including the agencies that supervise public pensions.

This is one more problem that can affect our wealth.  The solutions?

One answer is to manage your own pension.   This is what I do.  ENR Asset Managers can help you move your pension to Europe (3).  Two other solutions are as mentioned yesterday, the relentless search for equity value and your own micro business pinnacle career.   The ability to provide a valuable service or product is the ultimate form of purchasing power protection.

Gary

How to Create Your Own Website Income

Learn how to earn online.  Our webinar on building your own website from scratch is available online.

Register here.

My webmaster, David Cross ran this webinar.

Why Trust My Webmaster?

David CrossDavid Cross’ background is in marketing (27 years and counting) and sales, but he’s also run a software development company and a web hosting company. David sees technology as a tool to help you, not something that should hold you back.

Over the years he’s built hundreds of websites, and managed countless projects from simple, small websites right up to multi-million dollar websites that continue to bring in millions of dollars in sales every year.

Nowadays, David seldom does “small” websites because it is just not economical for him, and as a small business owner or individual, you probably have not set aside a few thousand dollars or more to develop a website.

However… you still need a website that is going to give you the basis for good results.

This problem faces many small businesses, and is what gave David the idea…

“Well Begun is Half Done”

…an idea to create a special webinar where you do the actual “work” of creating the site, but with David guiding you.  This means you get the best start from his expertise, and the cost to you drops dramatically.

The webinar is being recorded too, so if you miss it… no worries (only a handful of people who registered for David’s recent SEO webinar attended the live event, but still benefitted fully from the recording).

On with the show…

The purpose of this 90-120 minute webinar is to guide you through everything you need to build your own website for your hobby, blog, business or… charity, school, project… fill-in the blanks!

You will learn all you need to build your website like adding words and photographs, and a way for your customers or prospects to contact you.

Plus, David will also share some things you probably don’t need when setting up your website… some of which might surprise you.

How Much Will This Cost?

The cost of this webinar/training $79. For that you’ll know how to create and update your own SEO-friendly website. All you need is the time to actually do what David outlines. And remember that if you are setting up a website for your intended-for-profit business, the cost of this seminar is probably tax-deductible.

And although I do not think you will need it… I am offering a money back guarantee. If for any reason you want a refund on the $79, just ask me and I’ll refund your money and you may keep the materials in the hope that they are of use to you in future.

After following this webinar, you could probably set up a small website of a few pages in a couple of hours. A bigger site would take a bit longer but it’s really up to you how big you want to create. It is entirely possible to create a multi-thousand page website using only the ideas we share in this webinar. You can create your site in stages and you can do a little whenever you have time… 5 minutes here and there, or a few hours at a time… however you prefer to work.

How We’ll Build Your Website

Together with David, using a system called WordPress – an easy-to-use website creation and content management system. It’s now powering over 1% of all sites on the Internet, and David has used it for hundreds of websites over the years. David uses it, I use it for my website…likely you’ve visited a WordPress website today. It will more than adequately power most anything you can throw at it… in fact, if it won’t… you need much more than this webinar could ever provide and $79 is not a realistic expectation for what you’ll need to spend!

The Technical Stuff…

The webinar assumes that you can use a computer connected to the Internet. You can already do that as you signed-up for updates about this webinar. That’s about as technical as it gets. However, normally you’d need to also set up the web hosting and WordPress itself along with the recommended additions to WordPress (“plugins”) that David recommends, to get the most out of the webinar.

David can provide a list of all you will need, the plugins, etc. and you can do that yourself, and set it all up for yourself if you wish. But if you want David to set everything up for you, and avoid all the technical stuff and configuration, we’ve worked out a way that I can do this at no additional cost to you and provide full details once you sign up.

What Next?

I think I’ve covered everything here and made it easy for you to sign-up, easy for you to get started, and easy for you to back-out after the event if you wanted.

If you have any questions please let David know.

Thank you.

Best regards,

Gary

PS: The links, again:

 

(1)  Gallup Poll  Public’s Trust in Government

(2) New York Times Behind Private Equity’s Curtain

(3) Move Your Pension to Europe