Louis Chenevert’s Business Achievements: Pre- and Post-UTC

Great CEO’s are those that understand that they are the organization’s agents, with a role to take the organization to unprecedented heights and to leave it better than they found it. This is exactly what Louis Chenevert did during his tenure at United Technologies Corporation (or UTC), an American based firm that specializes in the manufacture and development of high-technology products.

Louis’ Achievements at UTC

Louis stepped down as the CEO of the company in 2014, but set a legacy that still remains unmatched. One of the top feats that he accomplished includes making significant market gains during the great recession and acquiring the celebrated Goodrich. In fact, this acquisition remains his signature deal in UTC considering that it took him more than one year to finish the negotiations but eventually arrived at an 18.4 billion dollars deal.

Another project that ranks high in Chenevert’s accomplishments at UTC is the GTF. An investment of 10 billion USD, GTF engine took more than 20 years to become one of the world’s most accepted jet engines. The engine is currently used by over 14 airlines and on 72 aircrafts just one year after it entered the market. GTF engine produces 50 percent less emissions, reduces fuel burn by 16 percent, and lowers noise footprint by a whopping 75 percent. The project is cited to have established Pratt & Whitney as one of the top groups in the narrow-body jet engine manufacturing market.

In 2011, Chenevert also anticipated the development of fan decoupling, which had a significant impact in the design of larger and newer jet engine designs. In a nutshell, Chenevert played a huge role in helping UTC meet its high-quality technology investment goals that still drive the growth of the company to date.

Chenevert’s Career History

Chenevert has also served for 14 years as a Production General Manager for General Motors. He also worked for Pratt & Whitney since 1993 and was promoted to the position of the company’s president after working for 6 years. Before being elected as the chairman of UTC in 2006, he served as the vice-chairman of the company’s Business Council Executive Committee. In 2015, he joined Goldman Sachs based Merchant Banking Division as an Executive Advisor.

Desiree Perez is The Chief Operating Officer of Roc Nation

It was recently reported that Jay-Z’s groundbreaking deal with touring powerhouse, Live Nation, is set to end next year. The original partnership, which was worth $150 million over a ten-year span, was a 360 deal, which allotted either party to buy the other’s stake in the company, or the entire company outright if they were in the position to do so. While Live Nation is set on ending their partnership with Jay-Z concerning the recorded music of the artists under the Roc Nation umbrella, due to the lucrative nature of their touring deal, they have been vocal about wanting to continue their relationship. Roc Nation currently houses a roster of musical titans, such as Fat Joe, Rihanna, Shakira, Meek Mill, and even Jay-Z. The music mogul, along with his close friend and high powered executive at Roc Nation, Dez Perez, was recently spotted outside the Santa Monica offices of Sir Lucien Grainge; the Chief Executive Officer of Universal Music Group. Inside sources have suggested that a new partnership may be brewing. If this speculated deal were to go through, this could mean the bolstering of the entire Roc Nation, as well as the artists under the umbrella. According to insiders at Universal Music Group, the company is already invested in the artists at Roc Nation on a small scale, but are interested in upping the ante.

Desiree “Dez” Perez is currently the Chief Operating Officer of Roc Nation, overseeing many aspects of the company’s production, including publishing and management. She has been one of Jay-Z’s closest associates for the better part of 20 years, helping to guide the trajectory of his career throughout that time. As a part of Jay-Z’s inner circle, Dez Perez has been known as an aggressive negotiator and was recently involved with the mega-deal between Samsung and Rihanna.

Obsidian Energy – New Management With A New Mission

Obsidian Energy has finally emerged from the restructuring of what once was Penn West of Canada, with the final piece of their new management team now in place. Obsidian realized a few years back that they could not continue under the old business model because of too many products that were not producing enough cash flow to sustain operations. They had a significant employee roster working on the multiple product lines as well, meaning that profit margins were practically non-existent. The company was also heavily leveraged with debt because of credit lines needed to properly fund these burdensome operations. The decision was made by shareholders to change the business focus, including adding a complete new management team over a short course of time. Check Out This Article.

 

CFO David Hendry

When corporations face balance sheet problems, the best place to begin reformation is with a financial professional. David Henry was the individual Penn West chose in April 2015. This began the process of reassessing the financial picture and determining to make the company a streamlined sustainable operation. Henry had previously served as Vice President at Talisman Energy. He began as an accountant, but was promoted to CFO at the beginning of the company transition period.

 

Vice President Tony Berthelet

Tony began as a General Manager in December 2014 and was promoted to VP of Development & Operations in June 2016. He has over 20 years’ experience in the energy industry, having worked previously as field level management for several other energy companies in Canada.

 

Vice President Andrew Sweerts

Andrew Sweerts joined the Obsidian Energy management team in June 2014 and served as VP of Business Development & Production until February 2017. Andrew had formerly held positions with Marathon Oil of Canada, Western Oil Sands LP, and Suncor Energy, bringing significant amount of experience to the group.

 

President and CEO David L. French

Last, but certainly not least, is David L. French. David is the newest addition to the Obsidian Energy management team, bringing leadership experience as President and CEO

of Bankers Petroleum LTD. David French has a wide range of prior experience in Europe and the United States, having been educated at Rice University and Harvard Business School.

 

President French recently announced that under his leadership since October 2016 the company has discharged all of the outstanding debt left from the Penn West changeover. Obsidian Energy is now on course to fulfill the company mission of reducing product lines and increasing cash flow for a leaner and more stable company operation.

Penn West Petroleum Changes Its Name To Obsidian Energy

As part of its restructuring strategy, Penn West Petroleum changed its name to Obsidian Energy. This announcement come as the company was planning on how to enhance its market share. The company’s business has been severely hit by three years of low commodity prices.

David French said that the name change would have to be approved by the company’s shareholders before it becomes effective. According to the new chief executive officer, the new oil and gas company no longer resembles the previous one. It has drastically revolutionized its operations and management. He added that this year marked a new beginning for Obsidian. Recently, David was mandated with the duty of spear heading the changes.

 

Penn West’s problems began in 2014 when an audit discovered that millions of dollars in expenses had been classified wrongly. This discovery saw the company redo its financial reports dating back to 2012 and as recent as the first quarter of 2014. Following the scandal, several investors sued the company. The lawsuits were settled in 2016. During the same period, the company was forced to sell its assets to clear debts amounting to over $3 billion. The sale has seen the debt owed by the oil and gas company fall to over $384 million by the end of March 2017. Refer to This Site for Additional Information on the company.

 

The company’s size has drastically reduced. Its oil production has fallen from over 135,000 barrels of oil per day to just over 28,000 barrels. Its employee base has also reduced. In the beginning of 2014, the company had 1,415 employees, this reduced to 407 at the beginning of this year. From these statistics, it is clear that the current company is not the old Penn West Petroleum. However, the management of the new company, Obsidian Energy has vowed to enhance its productivity and profitability margins.

 

About Obsidian Energy

Obsidian Energy Ltd is a mid-sized Canadian oil and natural gas production company. The corporation is based in Calgary, Alberta. The company is listed in the New York Stock Exchange and Toronto Stock Exchange (TSE) as OBE. It is the 60th largest company on TSE. Notably, Obsidian Energy’s predecessor was founded in 1979 in Calgary to explore oil fields in West Canadian Sedimentary basin.

 

More On: https://globalnews.ca/news/3481168/penn-west-proposes-name-change-to-obsidian-energy/

Meet Gregory James Aziz; The Genius Behind National Steel Car’s Success

In the world of business, very few live to see their career breakthrough. However, for individuals such as Gregory James Aziz, success is part of them. The famous business mogul is the seating CEO of National Steel Car. Additionally, the respected CEO serves on the board of directors as the Chairman. Under Gregory J Aziz’s tenure, the motor company has experienced what many may consider as incredible growth or as many would say, rebirth.

 

The distinguished motor manufacturer is headquartered in Hamilton, Ontario where Gregory Aziz resides. Professionally, National Steel Car is honored for its effort when it comes to the manufacture of railroad freight cars. When it comes to establishing a stable career, education comes in handy. Greg Aziz, as known by many takes credit for being more than qualified academically. The lucky lad schooled at the University of Western Ontario where he graduated with a Bachelor’s in Economics degree.

 

Upon completing his education, Aziz began his career at Affiliated Foods, a family venture. It is during his tenure that the venture grew magically to even the global markets due to its fresh supplies. However, in the 80s, Gregory left his family’s venture for New York with a dream to make his life better.

 

Since early ages, Gregory J Aziz had a dream to establish his own business like that of his family. Therefore, it did not take long before coming up with a brilliant idea. In 1994, using all his life saving, the lucky fellow acquired National Steel Car, a dream come true. After buying the company, Gregory set his concentration to turning the motor manufacturer into an icon. During that period, National Steel Car had about 2400 employees. However, it did not take long before the number grew due to the growth in the number of output. Today, the company boasts of releasing more than 12000 rail cars annually which means massive increase under Gregory’s watch.

As many would agree, Gregory J Aziz was the right man for the job owing to his prolific record. As the company’s CEO, Gregory has instilled creativity in his work, a quality that has seen National Steel Car remain a most-sought-after rail car manufacturer. Over the past 18 years sequentially, Gregory’s rail cars have been ranked as the best in the market.

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Apart from success in business, Gregory understands the importance of the community around. Therefore, while not doing office work or hanging out with family, Gregory is usually busy doing charity. Through nonprofit organizations, Gregory has supported the people of Hamilton, Ontario. Together with his wife, the couple has been funding the Royal Agricultural Winter Fair, a distinguished agricultural fair in Canada.

 

Visit This Page for additional information on National Steel Car and on Gregory J Aziz.

Gregory Aziz’s Trajectory to Success – From Affiliated Foods to National Steel Car

Gregory Aziz is one of the most successful entrepreneurs and business developers of our generation in Canada, as he is leading one of the most impressive companies in the railroad freight car and tank cars engineering industry, National Steel Car.

National Steel Car has dominated the market of the freight cars engineering and manufacturing mainly because of their excellency in producing the best materials and for having the most attention to quality.

 

Greg Aziz is currently the President, Chief Executive Officer and Chairman of the National Steel Car company, which has its headquarters in Hamilton, Ontario. National Steel Car has always been one of the most important companies in the industry in Canada, but they have skyrocketed the rest of the competition during the last couple of years.

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National Steel Car does not only produce and manufacture these materials for cities in Canada, but they also have a lot of influence in the U.S.’ territory. Many other corporations in the United States do not produce their own railroad freight cars and tank cars, so most of them order from the producers. The most famous one is National Steel Car, and Greg Aziz’s emphasis in reducing the cost and increasing the production rate by producing as many of the materials as the company can, has influenced drastically in National Steel Car’s reputation in the exterior market.

Gregory J Aziz began working in the business of his family, Affiliated Foods, a company that he has worked with for many years since he was at student’s age.

 

While he was learning Economics in the Western University, School of Economics, he was helping the business of his family and learning from some of the businesspeople in his family and in Affiliated Foods. At that time, Greg Aziz was absorbing some of the knowledge that he would use to drastically increase his leadership skills and his way of dealing with pressure and with the market. Greg, however, was doing exceptionally well at Affiliated Foods, becoming, in just a few years, an essential piece of the company.

 

As much success as Greg Aziz was having; he still wanted to find his own business and achieve his own accomplishments away from the comfort of his family. He succeeded in that goal when he acquired National Steel Car and began leading his new employees and learning with the newly-acquired market. Greg Aziz knew nothing about railroad freight cars. Go To This Page for more information about the company and Greg Aziz.

 

However, the business is doing great. With months of studying and extreme dedication, he learned everything about the market, and his leadership traits took care of the rest.

 

 

Related: https://www.behance.net/greg-aziz

 

What Joe Arpaio didn’t Foresee- the Frontera Fund Origin

In the event that led two of the most important journalists of Arizona to the prison for 24 hours, an institution was rising, and it would change the lives of many people and communities around the neighborhood.

Michael Lacey and Jim Larkin are the co-founders of Phoenix New Times and Village Voice Media, but they are not primarily known for their work with the two media companies only. Their journalistic jobs and eagerness to find the truth has earned the duo a big reputation among fans of their work, but for those who advocate for civil and human rights, Michael Lacey and Jim Larkin have made a lot more.

In an evening where everything was going completely normal, the Sheriff of the Maricopa County, Joe Arpaio, known for having elected himself as the “toughest sheriff in all of Arizona,” was planning a strategy to arrest the two journalists who were previously investigating the history and career of the man.

At that night, Joe Arpaio crossed the line: He ordered his men to breach into the houses of Michael Lacey and Jim Larkin and arrest them right there. Little did he know that the whole country would release an outcry and not a single law enforcer would agree with his decision, thus releasing the two journalists after 24 hours in prison.

Joe Arpaio had been dominated by fear and was clearly hiding something that the two entrepreneurs and co-workers would soon find out. The past of the sheriff was indeed filled with corruption and schemes, but the result of his unthoughtful action was very beneficial to dozens of communities around Arizona and many groups that advocate for civil and human rights.

From the arrest of Michael Lacey and Jim Larkin was born the Frontera Fund, or Lacey & Larkin Frontera Fund.

The Frontera Fund was created and founded with a very distinctive and daring goal in mind: to fund and support those who advocate for human, migrants and civil rights while supporting freedom of speech and expression. It was a very far-fetched task if it wasn’t for Joe Arpaio.

From the night that they were arrested, the duo received a settlement money of more than three million dollars. Because of what they had to go through that night, they received the biggest prize of their lifetime, but one that they were not going to use for themselves.

The settlement money of $3.75 million was going to fund those who suffer from legal oppression and abuse of power just like the duo had suffered when they were journalists.

Right now, the Frontera Fund has already given their full support to dozens of groups and institutions around Arizona and the country’s territory. They have funded groups that raise awareness of freedom of expression and those who are trying to make a difference.

Michael Lacey and Jim Larkin are big supporters of freedom and cultural diversity, and they are constantly sharing their thoughts and observations on recent news that defy those core traits of the American Democracy.

Read more:

Jim Larkin | Angel.co
Michael Lacey | Crunchbase

Greg Aziz And The Sucess Of National Steel Car Company

1Gregory James Aziz is the CEO, chairperson and president of National Steel Car. National Steel Car is North America’s leading railroad freight car manufacturer with over 100 years of experience and excellence in engineering and manufacturing. With this, the company has also earned itself a reputation as one of the world’s leading companies in its field.

 

Mr. Greg Aziz, who was born on April 30, 1949, acquired his major in economics at the University of Western Ontario after getting his general education at Ridley College. He started his career back in 1971 when he became part of a wholesale food family business. The company has grown over the years to be recognized as one of the biggest importers. It operates in various regions including Eastern Canada and the United States, gathering supplies from Europe, Central and South America.

 

Greg Aziz organized the purchase of National Steel Car in 1994. This was after he had worked on several banking investment opportunities in New York in the late 80’s and early 90’s. The company was formerly Canadian owned under the name Dofasco. His aim was to transform the company into one of the biggest car producers within North America, a goal he was able to achieve some years later. See This Article to Learn More.

 

As a result of massive capital investment and good team building skills among its employees, the company was able to expand its manufacturing capabilities in five years enormously. At the time of purchase, the manufacturing capability was 3,500 cars annually. This developed within a few years to 12,000 vehicles by 1999. The number of employees in the company also grew from approximately 600 to 3,000 over the same period.

 

Mr. James Aziz is not only a career person but also a humanitarian who ensures that he has given back to the community through his company. Through National Steel Car, Greg Aziz has supported various charities such as the Theater Aquarius, Salvation Army, the United Way, the Hamilton Opera and various other local charities in the Hamilton Community. The company also gives back to its thousands of past and present employees and their children by organizing a Christmas party for the company, which happens every year.

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Greg Aziz Makes The Future Happen

National Steel Car Ltd has flourished under the wise leadership of Gregory James Aziz. Greg James Aziz has faithfully lead as National Steel Car Ltd’s Chief Executive officer, as well as their Chairman of the Board. He has also sat on the board of National Industries as their Chairman.

Greg Aziz is a native of the great white northern country of Canada. He grew as a child in the city of Hamilton, which later would become the prime location for his business National Steel Car Ltd.

 

Greg Aziz prepared for the role of CEO by attending Western University and pursuing a degree in the area of economics. It was from the wisdom he collected during his stay here that he was able to lead National Steel Car Ltd so efficiently.

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One of the major achievements Gregory J Aziz achieved during his time as Chief Executive Officer of National Steel Car Ltd was bringing them over the century mark of business. It was because of Gregory James Aziz’s wisdom and skill that they were able to accomplish this.

 

Gregory J Aziz ensured this accomplishment by focusing on National Steel Car Ltd’s Research and Development department. He saw that National Steel Car Ltd had become lazy in its pursuit of innovation. This laziness would not serve them well in a world that was always changing. Gregory James Aziz began investing millions into Research and Development. His goal was to lower the gas emissions produced by his rail cars while at the same time increasing the rail car’s storage capacity and distance to travel.

At first, the executives of National Steel Car Ltd did not think they could accomplish this. Gregory James Aziz had to instill in them a vision of success and accomplishment. It was only when the executives believed in this vision that National Steel Car Ltd began accomplishing great things. Gregory James Aziz soon saw the fruit of his labor; a railcar emitting 90% less emission with 50% increased speed and storage capacity. Visit Their Page Here.

 

This accomplishment came during a critical time for railcar manufacturers. During this time, the Canadian and United States governments were passing stricter laws on the railcar manufacturing industry. These regulations came as a surprise to many other rail car companies but not Gregory James Aziz. He saw this coming and planned for its inevitability ensuring his company excelled while others were playing catch up.

Source: http://www.lacartes.com/business/Greg-Aziz-National-Steel-Car/191944

A look at the Life of Betsy DeVos, US Secretary of Education

Elisabeth DeVos, popularly known as Betsy DeVos perfectly suits the description of a leader and an admirable innovator. She plays critical roles in the removal of barriers present in education, business, as well as politics to not only allow change but also create an environment that permit people to blossom.

Work history/ career

Betsy DeVos presently serves as the 11th US Secretary of Education. The US Senate confirmed following the nomination by the president Donald J. Trump.

 

Other roles she has played include;

  • Local precinct delegate of Michigan Republican Party since 1986 (every two terms) – 16 consecutive times
  • She co-founded Windquest Group ( with husband) in 1989. The company has holdings in clean energy, manufacturing, and technology among many others.
  • 1992 – 1997; Michigan’s National Committeewoman.
  • 1996 – 2003; Chairperson, Michigan Republic Party
  • Finance chairperson (two years) of the National Republican Senatorial Committee – during the Bush Administration
  • Board member and one of the major stakeholders of Neurocore. Neurocore provides experimental biofeedback therapy for the treatment of health challenges such as autism, depression, anxiety and attention deficit hyperactivity
  • She has served as the chairperson of two boards in her community namely “American Federation for Children” and “The Philanthropy Roundtable.”
  • Serves as a board member of various organizations and institutes search as “Foundation for Excellence in Education,” the University of Maryland’s “DeVos Institute for Arts Management,” “Art Prize” and “American Enterprise Institute.”

 

Philanthropic works

  • Established the Dick & Betsy Foundation in 1989. The foundation has over the years donated millions of dollars to civic and art organizations, hospitals, charter, public and Christian schools, and evangelical missions among numerous others.
  • Formed “The Dick & Betsy DeVos Scholarship” with her husband in 2008. The objective has been to assist students undertaking MA, MS, and MBA, mainly from the third world countries – to study at Thunderbird School of Global Management.
  • She has been making robust donations, more than $17 million to the party, its associated committees, as well as political candidates since 1989.
  • Betsy volunteered as an in-school mentor in Grand Rapids’ public schools for at-risk children for 15 years.

 

Betsy DeVos’ Background

She was born Elisabeth Dee Prince in 1958 in Holland Michigan. Her father Edgar Prince was a prominent American businessman and billionaire who formed Prince Corporation; a firm that supplies automobile parts. Betsy studied at Holland Christian High School and Calvin College, Grand Rapids, where she obtained a BA degree.

 

Betsy DeVos is married to Richard Marvin DeVos Jr, who is famously known as Dick DeVos, a businessman. Dick DeVos served as the chief executive officer of Amway; an MLM firm co-founded by his father, Richard DeVos. Together with her family, Betsy has shown consistent dedication to the Republican Party.

 

Her family was position 88 in the 2016 Forbes list of America’s wealthiest families with a net worth of $5.4 billion. As at April 28, 2017, Betsy’s net worth was $5.1 million. Betsy and Dick DeVos have four children Ryan DeVos, Richard DeVos III, Elisabeth DeVos, and Andrea DeVos, and one grandchild.

 

For updates, follow Betsy DeVos on Facebook.