Contributors
Founder and Chair – LMFC
Vice Chair – LMFC
President and CEO – LMFC
President & CEO – The Bank of Holland
SVP of Shared Services - LMFC

Hear from the founder of Lake Michigan Financial Corporation, Rich Lievense, and his insight on what this blog encompasses.

 

People often confuse leadership and management. Mr. Komisar believes management is a supervisory role of setting priorities, allocating resources, and directing the execution of a company. Leadership is more forward thinking and more about enabling the organization by empowering individuals, developing the right people, strategically thinking about opportunities, and driving alignment in the company. What is your role in your business and which better describes you? To which do you aspire?
 

 

In his book, "The Quants," Wall Street Journal columnist Scott Patterson looks at how a new breed of math wizards contributed to the meltdown of our financial system during the years of 2007-2009. It seems these highly intellectual analysts believed that the rules of physics could be applied as easily to financial products using complex algorithms.   Early on these Quants got their start trying to devise systems to win at...you guessed it! Blackjack. The book has good lessons for future investing. As Warren Buffet is quoted "Beware of Geeks Bearing Formulas."

Read more article: The Minds Behind the Meltdown from the Wall Street Journal.

Most great ideas for enhancing corporate growth and profits aren’t discovered in the lab late at night, or in the isolation of the executive suite.  They come from the people who fight the company’s battles, who serve the customers, explore new markets, and fend off the competition.  In other words, the employees.  Are you listening to them?

Read more article: Who Has Innovative Ideas? Employees. from the Wall Street Journal.

Ever wonder why we have so much trouble saving for distant goals like retirement and college education for that newly born child?  The emerging field of behavioral economics helps to explain why spending comes so much easier than saving. 

 
Read more article: Why We Buy from Ode Magazine
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