Famous Entrepreneurs Information

http://www.aredconsult.com/ceo/overview-ceo-entrepreneurs.htm

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Dear "Famous Entrepreneurs" Visitors:

I have just recently set up this blog since May of last year when Blogger.com did not support FTP publishing anymore.

Stay tuned! I look forward to a most profitable and rewarding year of 2011.

But before you continue to pursue your own business education …

… here’s an Overview of The CEO’s 2-Part Formula For Business Success.

ENTREPRENEURSHIP + MARKETING

I would like to personally invite you to an eCommunity of like-minded people, with CEO-Mentality and/or Entrepreneur-Mindset.

Click this link to join the CEO-Entrepreneurs

Cheers,

Aredconsult Mastermind

***Trust in the Lord with all your heart***

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Saturday, March 27, 2010

America's Best Young Entrepreneurs 2009 - Shama Kabani

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3. Click To Client

What It Does: Online marketing agency

Founder: Shama Kabani, 24

Web Site: www.clicktoclient.com

Based: Dallas

But when Kabani made that pitch as she applied for jobs at big management consulting firms such as McKinsey and Bain & Co. in 2006, she was rejected. "At that point, nobody really cared for social media knowhow. They were just thinking, 'This is a fad. Our clients don't really need it.' "

Undeterred, Kabani, whose parents are both entrepreneurs, founded her own full-service online marketing firm in March 2008, to build Web sites, handle SEO, and create and manage social media campaigns.

The six-employee business now takes on about 25 one-off projects a month and also acts as an online marketing department for six regular clients on a retainer basis. Fees range from a few hundred dollars for a newsletter design to $2,500 for a Web site project; monthly retainer fees start around $2,500.

Kabani says Click To Client had about $120,000 in revenue in 2008, expects $280,000 for 2009, and is shooting for $1 million in 2010. Her first book, The Zen of Social Media Marketing, is due out in April.

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Thursday, March 25, 2010

America's Best Young Entrepreneurs 2009 - Aaron Levie and Dylan Smith

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2. Box.net

What It Does: Online collaboration tool

Founders: Aaron Levie, 24, and Dylan Smith, 24

Web Site: box.net

Based: Palo Alto, Calif.

Nine months after launching, they both left school (they were at University of Southern California and Duke, respectively) and moved to the Bay Area to work on the company full time, with an initial $350,000 investment from Mark Cuban. (His stake has since been bought out.)

The service, targeted toward companies with fewer than 100 employees, has 3 million users representing 50,000 businesses. Individuals can try a limited version for free, but businesses pay $15 per user per month for the premium version.

The company, now based in Palo Alto, has 50 employees and has raised $14.5 million in venture capital from Draper Fisher Jurvetson and U.S. Venture Partners. The firm is not yet profitable, though Levie says revenue is in the "mid-to-high single millions," and he expects it to turn a profit soon.

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Tuesday, March 23, 2010

America's Best Young Entrepreneurs 2009 - Jamail Larkins

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1. Ascension Aircraft

What It Does: Aircraft sales and leasing

Founder: Jamail Larkins, 25

Web Site: www.ascensionaircraft.com

Based: Augusta, Ga.

But instead of following a traditional career path and going to work for Boeing (BA) or Lockheed Martin (LMT), Larkins decided to channel his passion into his own business. It came naturally.

At 15, he had started Larkins Enterprises, selling flight training books and videos to local pilots, to pay for his flying lessons. "I promise you we started off selling a lot less than we do today," he says.

Though he continues to run Larkins to do marketing and consulting for clients that include his alma mater, the National Business Aviation Assn., and Michelin Aircraft Tires, he says 90% of his revenue comes from his aircraft sales and leasing company, Ascension Aircraft, which he started in 2006.

Larkins says four-employee Ascension is profitable and had a little over $7 million in revenue in 2008, despite the downturn. He expects revenue to increase slightly this year.

He continues to fly for fun every chance he gets and is planning to get back into aerobatics in 2010.

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Saturday, January 9, 2010

Don't let this opportunity pass you by…

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The webinar with my former fund manager friend last Wednesday was a huge success.

The good news is that you can watch the recording.

Click here to access the replay:

Since this is just his free stuff, imagine how good his one year mentorship program is. Let me tell you, it is life changing. I finished the course last night and will never look at the markets the same way. Wow what an eye opener.

You owe it to yourself, and your portfolio, to watch this webinar, at least once (more if you have time).

Our host really did do trades as large as $50 million before he left the world of money management and he shares a little of his story and some insider tips, but most of the hour is spent on pure trading content.

I like to share good content with my subscribers and this one is well worth it.

Thanks,

Ave Ramel

P.S. The 1 year mentorship program closes for most of the rest of the year this Sunday night so check it out today.

P.P.S. Spend just an hour listening and go improve your trading immediately.

Click here to access the replay: Exchange Traded Funds

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Friday, January 8, 2010

Only a few spaces left for the 1 year ETF mentorship program

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Maybe you haven't listened to the recording yet?

Click here to get access to it:

Here's the cheat sheet of what's covered in the webinar:

- Two simple tricks that instantly remove 95% of your emotions in trading.

(Since we know fear and greed are the number one killers of traders, this info could improve your trading Now).

- A little known position sizing trick that can double your returns, regardless of what market or system you trade.

- Why money managers who only risk 1-2% per trade still make great returns.

- How some hedge funds hunt stops and a simple trick to avoid being trapped.

- Why trading is not a "zero sum game" and what this means for the average trader.

- How to make strong profits using the daily charts and trading only 10 minutes per night.

- One of his profit target strategies. He has 4 in total and gives one away.

- How Jim Rogers, Warren Buffett, and others became great traders and investors.

- What the "gurus" selling hype trading courses are hiding from you AND

- Six easy ways to spot a counterfeit "trading teacher" from a mile away.

- How to not be vague with your entries and stops like when others say: "Buy a few cents, ticks, or pips above ___."

- A little known, no cost, scanner tool that can help you right now.

- He also gives you an excel sheet that does ALL the math for you so you can easily see the optimal position size and risk vs. reward ratio on all trades.

- A list of the 7 highest dividend paying ETFs.

All that in an hour? It certainly isn’t a waste of time!

This guy really knows his stuff. He should after placing trades as large as $50 million before he retired from money management. He shares a little of his story, but most of the hour is spent teaching you how to trade better.

I like to share valuable free info with my subscribers and this one defiantly fits-the-bill.

Click here to register for the recording:

See you there,

Cheers,

Ave Ramel

P.S. Even if you listened in the first time, don't miss this chance to replay this valuable free webinar.

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Thursday, January 7, 2010

Almost sold out! Watch the webinar recording asap

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The webinar last night with my friend the former money manager was 'sold out'! He gave us more powerful trading content than most paid courses. And, because the webinar was filled to capacity we are posting the recording.

Here's the link to register for the webinar replay.

One of the things he taught us is called the "Law of Association"; which states that in 5 years you will become like the people you hang out with and the books you read and the courses you study.

The bottom line is that if you want to learn to trade big, or profitably and consistently, you need to be around someone who does. Someone like our webinar instructor who used to trade $50 million at a time.

Here's a short list of only some of the highlights:

- A little known position sizing trick that can double your returns regardless of what market or system you trade.

- Two simple tricks that instantly remove 95% of your emotions in trading. As all traders know the emotions of fear and greed are the number one enemies of traders; beat them and you win.

- How some hedge funds hunt stops and a simple trick to avoid being a victim. Yes hedge funds, brokers and other individuals (not the "market") really do hunt stops.

- Why money managers only risk 1-2% per trade and still make great returns.

- Why trading is not a "zero sum game" and what this really means for the average trader.

- How to make strong profits using the daily charts and trading only 10 minutes per night.

- How Warren Buffett, Jim Rogers and others became great traders and investors.

- What the "gurus" selling hype trading courses are hiding from you and six easy ways to spot a counterfeit "trading teacher" from a mile away.

- One of his profit target strategies. (He has 4 proprietary tactics and gives us one, no charge).

- How to not be vague with your entries and stops like when others who say, "Buy a few cents, ticks, or pips above ___."

- A little known, no cost, scanner tool that can help you trade profitably, right now.

- A complementary excel sheet that does ALL the math for you so you can easily see the optimal position size and risk vs. reward ratio on all trades.

- Why ETFs are the best instrument to trade.

- Much more.

I promise it won't be a waste of your time. My friend really did do trades as large as 50 million before he left the world of money management. He did share a little of his story, but most of the hour is spent on the subjects above. As you know I like to share good content with my subscribers and this is one of them.

Click here to get the webinar replay:

See you there,

Cheers,

Ave Ramel

P.S. The $1,997 bonus day trade course might already be gone!

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Tuesday, January 5, 2010

Tonight: Trade Secrets of a Multi-Million Dollar Guru

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Wow! I just finished reading the power points for Wednesday's webinar with my friend the ex-fund manager.

And, I've got to say, that in all my years in the trading business, this is the most content rich webinar I have ever seen. No hype, only hard core trading truths that not everyone is going to like.

Things like the fact that he and his hedge fund buddies used to hunt stops. Now he's teaching "civilians" how to make money off those hedge hunters.

If you are new to trading, this hour could save you thousands of dollars over the school of hard knocks.

Those who don't get information like this risk having their whole investment account being wiped out, before they've really had a chance to trade.

Don't miss out - Click here to register for this Free ETF and Money Management Seminar.

For trading veterans I can guarantee you that the advanced position sizing tip is a golden nugget you'll use for increasing profits and decreasing risks in the years to come. This one tip could double your profits regardless of what your entry system is. The one tip alone can turn any average system into a winning system.

We'll cover:

- How to maximize your winners.

- Why most traders have it backwards when it comes to risk.

- How to eliminate 95% of trading stress and emotion.

- Why most traders have it backwards when it comes to winning percentages.

- Even how to become a professional money manager and raise millions, if you so desire.

That last one really surprised me. Because I know that if you really want to make millions in trading the fastest way is to use leverage with other peoples' money, when you are ready.

There are so many reasons to attend this F.R.E.E webinar Wednesday at 9pm EST. I honestly believe you're missing the boat if you don't take advantage of this opportunity. It won't be a waste of your time! I love sharing high quality content with my subscribers and this is going to be one of the best.

Our host has worked trades as large as $50 million during his money management career. He will share a little of his story, but most of the hour will be spent teaching you how to improve your trading.

See you then,

Cheers,

Ave Ramel

P.S. That's right, $50 million advice, f.r.e.e, and a chance to win a free 1 year mentorship with a professional trader just by showing up.

*** Pay attention while our guest explains how you can make more profits with less risk trading the markets.

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Monday, January 4, 2010

The Big Boys Are Working Against You - And I Can Prove It!

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Have you ever had that feeling ... after you were stopped out and the market went back in your original direction, that a bank or large fund had hunted your stop and stolen your shares?

Well, that's because it's true!

My guest on our Wednesday night webinar, a former big fund manager, used to do just that. In small markets like penny stocks his firm could do it all by themselves.

In larger more liquid markets they would team up with other hedge funds. He says even some banks would do it.

So what can you do about it? Learn to either stay out of the market when the hedge funds are hunting stops, or profit from it.

We'll talk about how to survive the hedge fund hunters during his complementary webinar Wednesday at 9pm EST.

Go ahead and reserve your slot now - with over 217,000 invitations and only 500 spaces, you'll need to register and opt in early to get on the webinar.

Click here to register:

In addition to the long list of topics I listed in yesterday's email, he will also be discussing:

- How some hedge funds hunt stops and a simple trick to avoid getting caught, most of the time. Yes, hedge funds, brokers and other individuals (not the "market") really do hunt your stops.

- One of his four proprietary profit target strategies. He'll just give you this valuable tip for listening in Wednesday.

- How to avoid being vague with your entries and stops (like those "gurus" who say, "Buy a few cents, ticks, or pips above ___.")

- A little known, no cost, scanner tool that can help you improve your trades, now.

- A complementary excel sheet that does ALL the math for you. You'll be able to easily see the optimal position size and risk vs. reward ratio on all your trades.

I promise it won't be a waste of your time. My trader friend really did do trades as large as $50 million before he left the world of money management. He will explain how he learned these tricks-of-the-trade, but most of the hour will be spent on teaching you how to be a better trader. I like to share useful content with my subscribers and this is a big chance to do just that.

Click here to register for your free seat at the Wednesday night webinar.

Hope to see you there,

Cheers,

Ave Ramel

P.P.S. Don't place another stop before you hear how the hedge funds are gunning for your profits!

P.P.P.S. In only 1 hour, you'll be handed years of hard won experience from a big time trader (who's willing to spill the beans). Plus his 1 year mentorship offer will be unavailable after Friday December 4th. He is the type of teacher who likes to support his new students and doesn't need to keep selling courses.

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Saturday, January 2, 2010

Go From Breakeven To Profits With This One Technique

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This Wednesday, January 6th at 9pm EST, join me for a free session with an ex $50 Million dollar fund manager when he reveals the secrets professional money managers use to:

- Risk 1-2% per trade and still make great returns.

- Instantly remove 95% of your trading emotions (as you know, fear and greed are the successful traders' enemy) with two simple tricks.

- He'll also show you how to reduce risk using his unique position sizing technique.

- A combination of a percentage risk stop and a technical stop.

- Plus an advanced tip using this concept that can instantly double your returns regardless of what system or markets you trade.

- He explains why trading is not a "zero sum game" and what this really means for you.

- How you can make profitable trades in only 10 minutes per night.

- Plus how Warren Buffett, Jim Rogers and others became great traders and investors.

- And, what the "gurus" selling hype trading courses are hiding from you and an easy way to spot a counterfeit "trading teacher" from a mile away.

- Much more.

Sound like a good use of an hour of your time? I hope so… in fact, since this invitation is going out to over 237,454 people and we've only got 500 seats, I'm sure it's going to "sell out" even though it is f.r.e.e.

So, if you think you can make it, go ahead and click here to reserve your spot.

He will share a little of his story, but most of the hour will be spent showing you how to improve your trades. I like to share valuable information with my subscribers and this is a great opportunity to learn from a pro – for f.r.e.e.

He told me the other day that he could take even an average breakeven system and turn it into a profitable one by changing the money management and position sizing of the trades.

Now, what if you do that, on top of having a great system? You get long term consistent results; that's what.

To hear it straight from the expert, go ahead and click here to register.

I look forward to seeing with you Wednesday night,

Cheers,

Ave Ramel

P.S. I almost forgot to mention that everyone who joins us gets a f.r.e.e bonus just for attending.

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Friday, January 1, 2010

A Scientific Breakthrough

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Hi,

At last, have finished the First VitaPlus Tour that will answer

a lot of your questions about this scientific breakthrough in

Health, Wellness, and Beauty.

You may now proceed to: First VitaPlus

The First VitaPlus Tour answers the ff:

- Five Power Vegetables

- Five Little Things You Should Know About First VitaPlus

- Prevention and Maintenance of Diseases

- Availability and Product Sizes

Cheers,

Ave Ramel

***Trust in the Lord with all your heart***

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Thursday, December 31, 2009

America's Best Young Entrepreneurs 2009: Jesse Gossett, Jayson Uppal, Chris Jacobs

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Emergent

What It Does: Renewable energy consulting

Founders: Jesse Gossett, 23 ; Jayson Uppal, 23 ; and Chris Jacobs, 21 (right)

Web Site: www.emergentgroup.com

Based: Boston

Two years ago, three Tufts University students and one Babson College student attended the Energy Security Initiative at Tufts (now the Tufts Energy Forum), a group whose mission is "to spread and enhance the discussion surrounding all aspects of the transforming, global energy industry." It was there that Jesse Gossett, Jared Rodriguez, Jayson Uppal, and Chris Jacobs decided there was a need in the consulting sphere to help guide municipalities and private businesses toward using renewable energies and setting up sustainability practices. The quartet spent their final year in college researching and readying a business to do just that. Before they graduated, they landed their first consulting contract. Emergent now has about 30 clients, mostly municipalities, including the towns of Yates, Shelby, and Orleans County in western New York. The firm had $108,000 in revenue last year, and estimates it will reach $250,000 in 2009 and become profitable by 2011.

by John Tozzi, Stacy Perman, and Nick Leiber

Monday, October 12, 2009provided by

For our fifth annual roundup, BusinessWeek

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Wednesday, December 30, 2009

How The Rich are Debt-Free

Board Games | Year 2012 End of the World

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Hi,

===========================================

Crisis ???

The Rich are debt-free and do really have

a lot of options in life.

If you want to be rich, you must know

- what kind of income to work hard for,

- how to keep it, and

- how to protect it from loss.

That is the key to great wealth.

Discover this kind of income in:

Rich Dad Cashflow

===========================================

Cheers,

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Monday, December 28, 2009

America's Best Young Entrepreneurs 2009: Shama Kabani

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Click To Client

What It Does: Online marketing agency

Founder: Shama Kabani, 24

Web Site: www.clicktoclient.com

Based: Dallas

While completing her master's degree in organizational communication at the University of Texas at Austin, Shama Kabani wrote her thesis on why people use Twitter and other social networking sites. She became convinced businesses could use the tools to market their products and services. But when Kabani made that pitch as she applied for jobs at big management consulting firms such as McKinsey and Bain & Co. in 2006, she was rejected. "At that point, nobody really cared for social media knowhow. They were just thinking, 'This is a fad. Our clients don't really need it.' " Undeterred, Kabani, whose parents are both entrepreneurs, founded her own full-service online marketing firm in March 2008, to build Web sites, handle SEO, and create and manage social media campaigns. The six-employee business now takes on about 25 one-off projects a month and also acts as an online marketing department for six regular clients on a retainer basis. Fees range from a few hundred dollars for a newsletter design to $2,500 for a Web site project; monthly retainer fees start around $2,500. Kabani says Click To Client had about $120,000 in revenue in 2008, expects $280,000 for 2009, and is shooting for $1 million in 2010. Her first book, The Zen of Social Media Marketing, is due out in April.

by John Tozzi, Stacy Perman, and Nick Leiber, BusinessWeek

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Friday, December 25, 2009

America's Best Young Entrepreneurs 2009: Aaron Levie and Dylan Smith

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Box.net

What It Does: Online collaboration tool

Founders: Aaron Levie, 24, and Dylan Smith, 24

Web Site: box.net

Based: Palo Alto, Calif.

Aaron Levie and Dylan Smith started Box.net in 2005, when they were both college sophomores, as a tool to collaborate on projects with fellow students. The pair -- childhood friends from Seattle -- soon saw business potential in an online platform to let companies share information securely. Nine months after launching, they both left school (they were at University of Southern California and Duke, respectively) and moved to the Bay Area to work on the company full time, with an initial $350,000 investment from Mark Cuban. (His stake has since been bought out.) The service, targeted toward companies with fewer than 100 employees, has 3 million users representing 50,000 businesses. Individuals can try a limited version for free, but businesses pay $15 per user per month for the premium version. The company, now based in Palo Alto, has 50 employees and has raised $14.5 million in venture capital from Draper Fisher Jurvetson and U.S. Venture Partners. The firm is not yet profitable, though Levie says revenue is in the "mid-to-high single millions," and he expects it to turn a profit soon.

by John Tozzi, Stacy Perman, and Nick Leiber, BusinessWeek

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Wednesday, December 23, 2009

America's Best Young Entrepreneurs 2009: Jamail Larkins

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Ascension Aircraft

What It Does: Aircraft sales and leasing

Founder: Jamail Larkins, 25

Web Site: www.ascensionaircraft.com

Based: Augusta, Ga.

Jamail Larkins has been hooked on flying ever since he took his first flying lesson at age 12. The Augusta (Ga.) native completed his first solo flight at 14, performed in an aerobatic air show four years later, and earned a bachelor's degree in aviation business administration from Embry-Riddle Aeronautical University. But instead of following a traditional career path and going to work for Boeing (BA) or Lockheed Martin (LMT), Larkins decided to channel his passion into his own business. It came naturally. At 15, he had started Larkins Enterprises, selling flight training books and videos to local pilots, to pay for his flying lessons. "I promise you we started off selling a lot less than we do today," he says. Though he continues to run Larkins to do marketing and consulting for clients that include his alma mater, the National Business Aviation Assn., and Michelin Aircraft Tires, he says 90% of his revenue comes from his aircraft sales and leasing company, Ascension Aircraft, which he started in 2006. Larkins says four-employee Ascension is profitable and had a little over $7 million in revenue in 2008, despite the downturn. He expects revenue to increase slightly this year. He continues to fly for fun every chance he gets and is planning to get back into aerobatics in 2010.

by John Tozzi, Stacy Perman, and Nick Leiber, BusinessWeek

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Monday, December 21, 2009

America's Best Young Entrepreneurs 2009

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It turns out it's boomers, not twentysomethings, who start the most businesses in the U.S. Over the past decade or so, the highest rate of entrepreneurial activity belongs to the 55-64 age group. The 20-34 age bracket, by contrast, had the lowest rate. That's according to a recent report by Dane Stangler, a senior analyst with the Kauffman Foundation, based on data collected from 1996 to 2007. It echoes research by entrepreneur-turned-academic Vivek Wadhwa, who found that twice as many tech entrepreneurs create ventures in their 50s as do those in their early 20s.

So not only are these entrepreneurs navigating the toughest economy many of us have ever lived through, they're also vastly outnumbered by older, more experienced competitors, who usually have more contacts and capital. That's even more reason to continue to give young entrepreneurs the encouragement, respect, and awe that they've received since becoming cultural icons during the dot-com boom.

Stangler says he's not suggesting young people aren't entrepreneurial or won't be. "The cachet of large, established companies has taken a hit. Job tenure has been falling for a long time. Employment is not going to recover in the very near future. People across all age groups are going to take the future into their own hands."

Dorm Room Beginnings

Brian Ruby, 25, is just one entrepreneur who is following through on Stangler's prediction. He founded molecular imaging equipment maker Carbon Nanoprobes in 2003 in his Columbia University dorm room and has since raised about $4 million from institutional and private investors. After six years doing research, Carbon Nanoprobes is now transitioning to equipment sales, and Ruby expects about $1 million in revenue in 2010. The nine-person company based in Pike Malvern, Pa., sells its equipment to universities, semiconductor firms, and material sciences companies.

Husband-and-wife team Eric Koger, 25, and Susan Koger, 24, launched indie clothing e-tailer ModCloth in 2002, near the end of their freshman year at Carnegie Mellon University. They've managed to raise a little over $3 million from angels such as StubHub co-founder Jeff Fluhr and venture capital firms First Round Capital and Maples Investments. Eric says the 104-employee, Pittsburgh-based company is profitable, with around $1 million in monthly sales, and forecasts more than $15 million total in 2009.

Logan Green, 25, and John Zimmer, 25, started Zimride in 2007 to allow carpoolers to connect online. Its 35 clients are mostly colleges but include corporate customers such as Cigna (CI) and Wal-Mart (WMT). Universities pay about $10,000 per year to use the platform, although pricing varies. Zimmer says the Palo Alto (Calif.) firm, with six employees, expects revenue of $400,000 this year and is now profitable.

Record Numbers

These are just a few of our finalists defying the odds. To assemble the group, as in previous years, we asked BusinessWeek readers to nominate candidates aged 25 and under who were running their own companies that showed potential for growth. Given the severity of the recession, we were pleased to receive a record number of nominations this year -- more than 600. After the call for nominations ended in mid-August, our staff sifted through the nominees looking for the most impressive.

Not surprisingly, the majority were Web-based businesses, where barriers to entry continue to fall. There were a smattering of more traditional companies, including an aircraft seller, a specialty mushroom grower, and a machinery lubricant vendor. Compared with last year, more women were nominated, more businesses were profitable, and more had secured equity capital.

by John Tozzi, Stacy Perman, and Nick Leiber, BusinessWeek

Labels: entrepreneur young, entrepreneurs young, famous entrepreneurs, young entrepreneur, young entrepreneurs

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Friday, December 18, 2009

10 of the Richest People in Town: How They Got Rich

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Every town has a richest person. Do you know who the richest person in your town is?

Have you ever wondered who the richest man in town is? W. Randall Jones has. The former magazine executive found himself in a country club near his hometown of Carrollton, Ga., one day when someone he was with pointed out a man at another table and said: "See him? He's the richest man in town."

That got Jones thinking. What his friend did is what people have been doing for millennia: pointing out the richest man in town. Sometimes people just want to know out of curiosity; other times it's because they think such proximity to wealth might present an opportunity. And, of course, the scale of the wealth in question might vary widely. What might pass for rich in a small town in Georgia may seem like a rounding error when compared with the net worth of billionaires such as Microsoft founder Bill Gates or Berkshire Hathaway's Warren Buffett.

So Jones got out a map and began identifying the largest metro areas in the U.S., then set out on a two-year search to find out who the richest men were. He spent more than two years interviewing local business editors, and business and community leaders in 100 towns across America in an effort to uncover their wealthiest citizens. In addition, he and a team of researchers combed through all available public data, including SEC filings, LexisNexis, EDGAR, and newspaper and magazine accounts. He even "Zillowed" their homes to determine their valuations.

Some of these individuals, like Gates, were well-known. His $40 billion fortune has established him as the richest man in Seattle, if not the world, for more than a decade. But what about the richest man in Spokane, Washington State's second-biggest city? According to Jones, it is Harlan D. Douglass, the largest real estate developer in town, who also sits on the board of Northwest Bank and invests in local companies such as Eagle Hardware & Garden. Bet you didn't know that.

In his new book The Richest Man in Town (Business Plus, 2009), Jones has come up with a list of the 100 richest people by town in the largest cities in almost every state in the U.S. "The media in general and the business press in particular is guilty of focusing too much on New York or San Francisco," says Jones. "There are success stories everywhere. I wanted to paint a true portrait of American wealth."

Women on the List, Too

It is important to point out that these are not the richest people in the U.S. Jones only picked the wealthiest individual in the biggest towns. If you were the second-richest person in town, you didn't make the cut.

Despite the title, there are women on Jones' list, too. Women such as Boulder, Colo.'s Judi Paul, the co-founder of Renaissance Learning, and Indianapolis' "time-share queen" Christell DeHaan, the founder of Resort Condominiums International, the largest vacation exchange company in the world. (Jones explains that his editor thought the title The Richest Person in Town, while more accurate, wouldn't have the same punch.)

According to Jones, the average Richest Man in Town (RMITs, as he calls them) has a net worth of more than $3.5 billion, and 50 of the 100 people he identified were billionaires when his book went to the printers.

Charlotte : O. Bruton Smith, 80

How'd he get so rich? The first man to bring Nascar to Wall Street, the auto-racing billionaire owns Speedway Motorsports, which includes the Charlotte Motor Speedway, Las Vegas Motor Speedway, and Texas Motor Speedway. He is also chairman and CEO of Sonic Automotive, a company with more than 180 car dealerships.

Denver: Charles W. Ergen, 56

How'd he get so rich? Ergen is co-founder, chairman, and CEO of EchoStar Communications and satellite company DISH Network. A keen poker player, Ergen's biggest bet came in 1995 when he launched the first direct-broadcast satellite into orbit on a Chinese rocket. Today, he has an estimated net worth of $3.9 billion.

Detroit: William Davidson, 86

How'd he get so rich? Not everyone in Detroit is struggling. Davidson is the chairman of privately held Guardian Industries, the world's largest maker of automotive glass. He is also the owner of the Detroit Pistons basketball team, as well as the Detroit Shock of the WNBA and the Tampa Bay Lightning of the NHL. He reputedly is worth $2.1 billion.

Fort Worth: David Bonderman, 66

How'd he get so rich? Leveraged buyout king Bonderman runs Texas Pacific Group, the private equity powerhouse that has made major investments in J. Crew, Neiman Marcus, Burger King, Bally's, Continental Airlines, and TXU. A graduate of Harvard Law School, Bonderman apprenticed under two legendary investors: Robert Bass and Richard Rainwater. TPG today has more than $50 billion under management, and Bonderman has a net worth estimated to be about $1 billion.

New York: Michael Bloomberg, 67

How'd he get so rich? After being fired from investment bank Salomon Brothers in 1981, Bloomberg used his $10 million severance package to set up his own financial software services company, eventually making him the richest man in New York—as well as one of the richest men in the world. Today closely held Bloomberg has more than 150,000 global subscribers for its eponymous terminals, which rent for $1,500 a month and up, as well as a cable network, radio station, Web site, and magazine. Bloomberg stepped down as CEO of his company when he was elected mayor of New York in 2001, and he is now making a bid for a third four-year term in office. In addition to his mayoral duties, Bloomberg, often cited as a potential presidential candidate, is an active though frequently anonymous philanthropist and has given away hundreds of millions.

Newport Beach, Calif.: Donald Bren, 76

How'd he get so rich? Founder and chairman of Irvine, a massive real estate development firm, Bren almost single-handedly made Orange Country, Calif., into the pristine, wealthy retail and technology mecca it has become. Bren built his first house in 1958 with a loan of $10,000. Today he owns 25,000 undeveloped acres in Orange County, 400 office buildings, 40 retail centers, as well as numerous apartment communities, hotels, marinas, and golf courses. His net worth is estimated to be $12 billion. In 2004, BusinessWeek magazine ranked him 15th on its annual list of the 50 Most Generous Philanthropists in the country.

Palo Alto, Calif.: Sergey Brin, 35

How'd he get so rich? Ever heard of Google? This former Stanford student co-founded the Internet search powerhouse with Larry Page in 1998. Today it is considered to be one of the greatest business success stories of all time. The son of Russian Jewish immigrants—both of whom are professors—he is worth around $12 billion. Google has a market cap of $123.1 billion.

Danbury, Conn.: Fred DeLuca, 60

How'd he get so rich? Starting in 1965, Fred DeLuca turned a $1,000 investment from his friend and partner, Dr. Peter Buck, into Subway, one of the biggest sandwich chains in the world. With more than 31,000 franchisees, DeLuca now has a fortune estimated at $1.6 billion.

Washington, D.C.: David Rubenstein, 60

How'd he get so rich? Rubenstein is the co-founder of the Carlyle Group, one of the largest private equity investment companies in the world, with more than $80 billion under management. In 2007, Rubinstein, who has a net worth estimated at $1.4 billion, purchased the last privately owned copy of the Magna Carta for $21.3 million, ostensibly as a gift for his daughter's 20th birthday. He then lent it back to the National Archives.

Wichita: Phillip Ruffin, 74

How'd he get so rich? The billionaire best friend of Donald Trump made his fortune in casinos, greyhound racing tracks, convenience stories, real estate, and hand trucks. He is the owner of New Frontier Casino in Las Vegas, as well as the Trump International Hotel & Tower. On Jan 6, 2008, he married the 26-year-old supermodel and Miss Ukraine 2001 title holder Oleksandra Nikolayenko. Ruffin reportedly has a net worth of $2 billion.

BusinessWeek.com

Labels: famous entrepreneurs, richest person, richest person in, richest person the world, the richest person, world richest person

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Monday, December 14, 2009

5 CEOs Who Are Worth Their Fat Paychecks

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The average American can be excused for thinking that CEOs raid companies rather than running them.

What was once the most august job title in working America has become a synonym for greed and chutzpah. In recent years, the chief executives of Bear Stearns, Lehman Brothers, AIG, Citigroup, Fannie Mae, and Freddie Mac ran their companies into the ground while collecting pay packages that totaled eight and sometimes even nine figures. Some CEO perks sound like the trappings of royalty: car and driver, family use of private jets, personal security, lavish death benefits for family members, free tax and retirement-planning services. While CEO pay has drifted down on account of the recession, it still averages about $1.7 million, and the gap between the pay of CEOs and average workers has been widening for years.

But some CEOs are worth the trouble. A new report by the Corporate Library, a corporate-governance research group, highlights 12 CEOs who get "paid for success." In response to recent corporate abuses, reformers in Congress and elsewhere are pushing hard for companies to link pay, bonuses, and other incentives to long-term performance rather than awarding bonuses based on inflated quarterly numbers or unproven pump-and-dump deals. Many companies claim that they strictly enforce pay-for-success rules, but studies by the Corporate Library and others show that it's mostly lip service; most boards of directors and compensation committees tend to be captive bodies that rubber-stamp the CEO's pay package with little scrutiny.

The 12 companies that do it differently, according to the Corporate Library, don't underpay their CEOs; median CEO pay for the group was about $5.5 million in 2008, far above the average for all chief executives. But the CEOs at these companies have a record of success that justifies their pay. All 12 companies have demonstrated consistent, long-term profitability that exceeds the average for their industries. And over the past five years, all have outperformed the S&P 500 stock index, which is down about 6 percent.

Many of these companies also have policies that reformers say should be widespread. Some restrict or prohibit special perks for executives, with bonuses triggered by hitting difficult profitability targets that exceed industry averages. Several of the companies have "claw-back" policies that allow them to reclaim CEO pay if financial numbers have to be restated or strategic moves backfire down the road. And many restrict bonuses, or eliminate them altogether when the company has a bad year--whether it's the CEOs fault or not.

Here are five CEOs whose pay and performance set an example for the rest of corporate America:

Steve Jobs, Apple

Total pay over the past two years: $14.6 million

Five-year stock performance (through Dec. 1, 2009): up 510 percent

The ever provocative Jobs drew shareholder ire a few years back for one bonus that came in the form of a $90 million Gulfstream jet and for a sweetheart deal that replaced unredeemable stock options with $75 million in Apple stock. Jobs made amends by working for $1 in 2008, and the trendsetting tech company has also redeemed itself with a "say on pay" shareholder vote set for next year and some other progressive rules. Jobs and other executives are entitled only to perks that all Apple employees get, for instance, and there's no special severance for big shots. And cash bonuses are awarded to executives only if Apple meets double-digit growth targets for both revenue and operating income--a practice that less than 10 percent of companies abide by.

William Rhodes, AutoZone

Two-year pay: $8.5 million

Five-year stock performance: up 74 percent

Since there's no corporate jet at this auto-parts retailer, the CEO and other top managers fly commercial. A special medical plan for executives was discontinued in 2007, and the pay structure for executives is generally the same as for everybody else in the company, with no special severance for execs who leave the company. Unlike many corporations, AutoZone doesn't hire compensation consultants to help determine pay packages, a practice the Corporate Library and other research groups have linked to inflated pay packages.

Clarence Otis, Darden Restaurants

Two-year pay: $7.5 million

Five-year stock performance: up 16 percent

When sales fell at many companies during the recession, CEOs came up with "discretionary income adjustments" to compensate for performance bonuses their executives were forced to forgo. Not Darden. The restaurant company, which runs several popular chains including Olive Garden, Red Lobster, and Bahama Breeze, froze salaries as its revenues declined, while severely curtailing cash and stock bonuses--even though it managed to perform better than most other restaurant companies. The company also instituted a claw-back provision and upped its performance horizon from one year to three when determining bonuses.

Michael McCallister, Humana

Two-year pay: $26.9 million

Five-year stock performance: up 76 percent

McCallister's pay plunged from $24.5 million in 2007 to $2.4 million in 2008 because this healthcare provider paid no bonuses last year. That's because the company's earnings per share--the single factor determining bonuses--failed to improve from the levels of 2007. The Corporate Library includes Humana on its list mainly because its simplified bonus mechanism is clearly structured to drive performance.

Daniel DiMicco, Nucor

Two-year pay: $11.2 million

Five-year stock performance: up 60 percent

Bonuses at this stingy steelmaker are paid only after the company has met a stringent set of requirements that guarantee it is performing better than competitors. Baseline salaries are relatively low, and some executives end up earning less than their peers elsewhere in the steel industry. And there are no special perks for executives. The payoff comes in long-term performance: Nucor has been profitable every year since 1966, a remarkable record in an industry that usually feels the pain of every recession.

By Rick Newman

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Friday, November 20, 2009

Secrets Of The Self-Made 2009