Posts by Gloria McDonough-Taub

  • The biggest mistakes small business owners are still making

    Gloria McDonough-Taub at Off the Cuff 1 yr ago

    “You get a little bit of money, you get a little bit of success, and you kind of lose focus,” he said.

    But there was one person who could bring him back in to focus.“I remember my mother coming to my house one day and she looked at my car and said to me, ‘You got to be kidding me.  I mean, really?  You're in your 20s.  What do you do next?’  She said, ‘You're more impressed with what you're able to acquire than what you're able to give away.  And I'm not impressed.’"

    His mother may not have been impressed, but others were.

    Lemonis was born in Lebanon and adopted as a baby by a Greek family that owned car dealerships in Florida. The family was also very close with American business icon Lee Iacocca, who changed Lemonis’ career and life.

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    In 2003 he started buying up RV dealerships and three years later he merged with Camping World. The combined business now makes up about 25 percent of the entire RV market and is worth about $3 billion.

    Making those layoffs cut Lemonis deep.

     

  • Peter Diamandis: Mining Asteroids, The XPRIZE and Changing the World

    Gloria McDonough-Taub at Off the Cuff 1 yr ago

    Growing up as a kid, Peter Diamandis fantasized of being an astronaut and flying in space. He never made that trip, but he’s championing some out of this world ideas including reinventing health care and revolutionizing education, saving the oceans and mining asteroids.

    “I think that we're living in a time where there are trillion-dollar opportunities that never existed before.”

    Like mining asteroids.

    “Some of these asteroids that we're targeting are worth trillions of dollars in fuels in strategic metals” and Diamandis believes the sky’s the limit, “asteroid mining really is effectively a limitless marketplace.”

    Having obtained degrees in molecular genetics and aerospace engineering from MIT and his MD from Harvard Medical School, Dr. Diamandis is the Chairman and CEO of the XPRIZE Foundation, Executive Chairman of Singularity University and the Co-Founder and Co-Chairman of Planetary Resources. He also boasts of having created more than a dozen companies.

  • Ken Blanchard: The “One Minute Manager” Remains Timeless

    Gloria McDonough-Taub at Off the Cuff 1 yr ago

    Thirty years ago the “One Minute Manager” hit the book shelves. It was one of those “once in a lifetime books” a book that created its own category and became the bible for managers around the world.

    The “One Minute Manager,” co-authored by Ken Blanchard and Spencer Johnson is a parable; it reads more as a story than a textbook, or as Blanchard has called it, “a kids’ book for big people.”

    It is an easy to read book that reveals three very practical secrets of managing people: one minute goals, one minute praising and one minute reprimands. The theory was to keep it simple so that the complex information would be easy to digest and to put into practice.

    Read More: Meredith Whitney: I Have Doubts All the Time

    One of the biggest complaints Blanchard has with today’s leaders, is the “human ego.”

  • Novartis CEO is a quick study—and he had to be

    Gloria McDonough-Taub at Off the Cuff 1 yr ago

    Joseph Jimenez thrives on competition, and that’s a good thing, because he’s now working in an industry that has never faced such fierce competition as it does today.

    “The industry is really in a state of flux,” said Jimenez, the CEO of Novartis, the Swiss pharmaceutical giant.  “On the one hand, you have increasing demand around the world; we have the aging population and we have increased chronic illness in emerging markets.  At the same time, you have financial systems around the world and payers that are trying to contain costs.”

    “I was not a physician, and I wasn't a scientist,” he said. But he was determined.

    He took a crash course on the pharmaceutical business, being tutored two hours a day, every day, for a year.

    “We went over every drug in the company’s portfolio in great detail. We talked about the biology of the disease each one was intended to treat. We discussed the mechanism of action of various drugs—how and why they worked,” he said.

    His quick study of the company and of the industry has proven to be exactly what was needed at Novartis.

  • Wells Fargo’s John Stumpf: I Never Set Out to Be CEO

    Gloria McDonough-Taub at Off the Cuff 1 yr ago

    Growing up on a poultry and dairy farm on the prairies of Minnesota, John Stumpf, one of 11 children, learned a lot about hard work, competition and sacrifice. He shared a bed with two brothers. “I never got to sleep alone until I got married,” he joked with the Associated Press.

    Life in that packed house also taught him a lot about teamwork.

    “Even though we were very poor financially we learned the value of plural pronouns – we and ours…there wasn’t a lot of time for I, me and my,” he told Forbes.

    Those early lessons he learned while surviving those harsh winters have stayed with him and he employs them now as Chairman and CEO of Wells Fargo. 

    “We call our employees team members, and we think of them as our assets. We believe in plural pronouns, us, we and ours.”

    His rise to the top came the old fashioned way – he earned it.

    (Read more: The Most Overrated Jobs of 2013)

    So how does he do it?

    And when things go bad, they can go really bad.

  • ‘Sully’ Sullenberger: Heroism and Life After the ‘Miracle’

    Gloria McDonough-Taub at Off the Cuff 1 yr ago

    For millions, he will forever be remembered for performing “The Miracle on the Hudson.”

    January 15, 2009 - US Airways Flight 1549 had just taken off from New York’s LaGuardia Airport headed to Charlotte, NC. It didn’t make it there. Instead, the plane was safely ditched into the freezing river that separates New York from New Jersey.

    For the first 100 seconds of the flight, it was just another mundane trip for Captain Chesley Sullenberger, who had flown for more than 42 years and logged 20,000 hours in the air.

    But then he saw the birds; a flock of Canada geese, each weighing about 10 or 12 pounds, with a wingspan stretching from four to six feet.

    As the plane was making its ascent, the birds were sucked into the plane’s engines, forcing the captain to make an emergency landing. With no airports easily available, he turned the plane, and headed for the Hudson River.

    “It felt as if the bottom had fallen out of our world. I could feel my pulse and my blood pressure shoot up, my perceptual feed narrow, because of the stress. But I had the discipline to focus on the task at hand in spite of it.”