For this assignment, I chose to interview JL Audio cofounder Lucio Proni. JL Audio is a consumer/professional audio manufacturer located in Miramar, Florida that produces speakers for boats, cars, and home sound systems. Lucio Proni is an engineer and cofounder of the company with his high school buddy Jim Birch. During the mid-1970’s when they were on their summer break from the University of Florida, Lucio and Jim decided to mess around with component speakers and wound up building home loudspeakers for fun. They worked out of a garage in Lucios home and showed some of their speakers to their friends and some. Later on, a few of them even bought some, so they built a couple more to sell on the flea market. Lucio’s early success inspired …show more content…
He also recommends reading “Trading from Your Gut: How to Use Right Brain Instinct & Left Brain Smarts to Become a Master Trader” by Curtis Faith since it draws from the lifetime of experience of master traders like Richard Dennis and Jesse Livermore. One thing I would not have done with a business that was currently going broke is pushing it to the side in favor of another venture. Lucio and Jim thought it was a good idea to divert their attention away from a failing JL Audio in favor of a new business and took out a loan to have enough capital to open it. Luckily, things turned out fine for them, but there are just so many things that could’ve gone wrong and pushed them deeper into debt than they were in the first place. If I was in their shoes, I would’ve tried to build up JL Audio into a more profitable business first; some product discounts and sales could’ve helped move stock faster and when JL Audio was doing better, then they could’ve expanded into other business
Do you feel it is appropriate for Lupita to receive special education services? If so, under which eligibility would she qualify? If not, why not? Explain the basis for your answer.
This book details the “adventures” of Jim Barton, the head of Loan Operations for IVK, Inc. Barton was the head of Loan Operations until his boss, CEO Carl Williams, asks him to become the CIO in order to help turn the IT department around. The only disadvantage is that Jim does not have any kind of background or extensive knowledge of IT.
Lucio Proni is an engineer and cofounded of the company with his high school buddy Jim Birch. During the mid-1970’s when they were on their summer break from the University of Florida, Lucio and Jim decided to mess around with component speakers and wound up building home loudspeakers for fun. They worked out of a garage in Lucios home and showed some of their speakers to their friends and some. Later on, a few of them even bought some, so they built a couple more to sell on the flea market. Lucio’s early success inspired him to start a speaker business so he could make a living from his work. In 1975, he joined fellow business partner and friend, Jim Birch and founded JL Audio; their company name being an amalgamation of the first letters of their names. They didn’t really start out their business with a solid business plan, their early days were instead marked by a lot of trial and error. At first they tried to sell JL Audio products to local audio shops. They found some success doing this since a couple of the loca shops were interested in selling their home speaker systems and kits. In 1977, business became scarce and they encountered financial difficulties as a result. In troubling times like this, it was Jims’s business skills, Lucio’s quality workmanship, and their combined tenacity that got them through it all. As a child, Lucio was given some valuable advice from his father; he said that “if you’re not willing to put your heart into something, then don’t bother doing it”. This work philos...
House of Cards describes in particular the complicated series of events that led to the downfall of Bear Sterns in March 2008. Its actual appeal, however, deduces from its complete and careful analysis of the history of the firm since its origination as an upstart brokerage firm in 1923 and a gripping account of the demise of Bear Sterns in 2007. This failure prognosticated a lot of issues that would eventually stultify the firm, and the author puts forward that its deviation from various historical operating practices led to its ultimate sale to JPMorgan Chase at $10 per share, down from over $170 just a year earlier.
In conclusion, Jordon Belfort has had a major influence on today’s world. Belfort changed the way that people today see Wall Street and the world of stockbrokers. He lived at the top of the food chain but fell back to being “pond scum” (“The Wolf”). He even proved to all that a successful life isn't always the most perfect. Belfort served his time and is even a motivational speaker now. Now, Belfort is an example of how drastically one’s life can change within minutes, days, months, or
John Rigas started Adelphia Communcations in 1952 with the help of two partners, but soon bought it out. The company was taken public in 1986 and as a result would have to abide by the regulations of the SEC. By the early 2000s, Adelphia was one of the top cable companies in the United States. This was the peak of a corporation that would begin a downward spiral over the first half of 2002 as a result of fraudulent use of the company’s assets at its’ shareholders expense. Members of the Rigas family drove the company to bankruptcy through rampant spending of company funds on personal expenditures (Barlaup, 2009). These expenditures included the likes of gross misuse of the company’s aircraft for personal trips by members of the Rigas family and the construction of a personal golf course on the family’s private land (Markon, 2002). This was accomplished after careful manipulation of the company’s reported numbers and fabrication of transactions within the company. Co-borrowing and self-dealing were commonplace in this time period that resulted in over 2 billion dollars’ worth of debt. All this was done under the nose of shareholders and culminated in an insurmountable debt that would lead the company to bankruptcy and to the imprisonment of multiple members of the Rigas family (Barlaup, 2009).
Brian, a young business executive, started a small software company in his mid twenties. He would invest long hours developing his business, often working late into the nights. When the business became profitable, Brian incorporated and went public through a stock offering. Flood gates open and money poured in the company coffers and Brian grew exceedingly wealthy.
While he seemingly states this not being an issue, he also notes that not understanding financial planning is one of the biggest reasons for small business failure. Often times, business owners do not have the cash at the beginning to continually fuel the early stages of their business. These conflictions in the book can sometimes create confusion, which disengages the reader. Nevertheless, Calagione believes that as long as one has an educated financial plan in place and stays true to the mission, being short on cash can be worth the risk of starting a business. For example, instead of going bankrupt in the beginning by buying an expensive commercial brewing system, he spends a fraction on a home brewing system that made one-thirtieth of the beer per batch (10 gallons vs. 310 gallons). He uses his tight budget to his advantage, as he can now create a more diverse selection of brews and try new ideas quicker (100-101). Essentially, start-ups do not necessarily need to have top-of-the-line equipment, but instead the entrepreneur needs to maximize all opportunities. Potential entrepreneurs take
This did not last long because just a quickly as they rose so did they fall. Within a year their stocks were down to little of nothing, and their name was not one someone wanted to be associated with. The downward spiral can be contributed to the organization culture and improper checks and balances.
Furthermore, he engaged the customer with an optimistic attitude and stated how the stock could affect him or her in the best way possible. Jordan could immediately hook any client into believing what he had to offer by providing the customer with the success stories others have had under his instruction.... ... middle of paper ... ... Works Cited Belfort, Jordan. The Wolf of Wall Street.
Polyphonic, like the rest of Grupo, is led by a talented and educated team of managers, who have experience working in the music industry. Adding to their strengths, the company is supported by an experienced advisory board made up of music industry insiders with first-hand knowledge of how music companies operate and about the challenges they might face. Lastly, Polyphonic has created in HSS a valuable and scientifically proven product with unlimited potential that can serve across different market segments (discussed at length below). However, the company is not without its own challenges.
No recent events caused any of their troubles to surface. They were having a difficult time so they decided to restate their funds for the past four years. When they did this, it showed huge differences of money from what they had posted and what they restated it as. In fact so much that they were eventually forced to file for bankruptcy. They brought the trouble on themselves. If someone didn't become suspicious after Skilling quit, then they probably could have gotten away with it for a few more years. But I do believe that they would have been caught eventually.
The Body Shop International case is an interesting case study into the miscommunication of owners and stockholder interests with regard to financial conditions. Anita Roddick, the founder of The Body Shop had no financial experience and thought that all she needed to do was expand her business and the financing would take shape as she developed her business. While Anita’s product concept of a natural skin-care line was good; her lack of experience in financial matters took its toll on her business.
Dating back to the initial creation of the stock market, trading has always been a popular form of business in the economic society. Trading stocks is something that is practiced by people all over the world. Surprisingly, though it has always been one of the most popular ways to invest money, many people still don’t understand how it works. Some compare investing in the stock market almost as gambling money. A stock, depending on the amount of shares, is a portion of a public company. With owning that small percentage of the company, ones success in the market depends solely on the success of the company. The stock market is a financial market where brokers meet to buy and sell stocks. As a result to the popularity of investing in the stock market for many people, the country’s economy has lived and died by the markets production. Therefore, when the stock market has crashed in the past, the country as a whole takes a very
Jim Collins and his research team have done a wonderful job identifying what it takes for a company to go from good to great. I found this book to be extremely interesting and would like to share several of my thoughts.