The sweet sounds of commercial real estate opportunities are ringing out across South Carolina.
Architecture is the mother of the arts, but until fairly recently, the mother couldn’t find her children. Help came from Jay Pritzker and his wife. The Pritzker family in Chicago, the city best known as a museum of modern architecture, pulled together its Hyatt Foundation and named its first annual recipient of the Pritzker Prize, 1979, architecture’s equivalent to the Nobel Prize. The award went to then-73-year-old Philip Johnson, best known for his Glass House, 1949, and his master plan of Lincoln Center, 1964. Johnson died in 2005.
On the surface, the current U.S. economy looks rosy. However, recent Congressional Budget Office (CBO) predictions that the federal deficit will reach $1 trillion by 2020 have alarmed many economists, business leaders, and ordinary citizens…and rightly so. As Thomas Kaplan of the New York Times wrote in April 2018, “The fear among some economists is that rising deficits will drive up interest rates, raise borrowing costs for the private sector, tank stock prices, and slow the economy, which would only drive the deficit higher.” From there, the likeliness rises that the U.S. will face a fiscal crisis such as the Great Recession…or worse. If so, everyone—businesses, families, and individuals—will suffer!
In past columns, my colleague Robert Ployhart has written about our Leadership Transitions Model. This framework identifies the competencies necessary for different levels of leadership and how to effectively transition to new leadership roles. Drawing on our framework and experience with many companies, we have developed tools for assessing emerging leaders and assisting them through these transitions. In this article, I want to share our experiences using these tools to accelerate the career progression of our Professional MBA students.
In 1998, television journalist Tom Brokaw published his book, The Greatest Generation, which praised our country’s citizens of the Depression and the WWII eras. Brokaw called them “the greatest generation any society has ever produced.”
Congress created a new deduction as part of its tax reform legislation, the Tax Cuts and Jobs Act (TCJA), which could make pass-through entities even more attractive to some small business owners. For the first time, owners of certain types of pass-through businesses can potentially deduct 20 percent of their qualified business income from taxable income. Unfortunately, the rules associated with this provision have complex limitations on who can claim the deduction and the amount that qualifies.
More companies are adopting workforce pipeline development strategies to engage potential candidates farther upstream in order to build the skill sets that are critical to their businesses. One of those strategies that has proven successful for quite a long time is an apprenticeship.
Every winter, many of my evenings and weekends are spent watching my kids play youth-league basketball. Anyone who thinks leadership is easy should try coaching elementary and junior high basketball. My hat goes off to anyone who has the commitment—and the patience—to voluntarily coach youth sports.
Entrepreneurship is the latest trend in economic development. Studies show that cities that support entrepreneurship boast lower unemployment, retain younger workers, and have the resources on-hand to solve local challenges. And Columbia is building its entrepreneurial ecosystem.
In South Carolina there is hue and cry over the possibility of the ecological damage that can come with offshore drilling. But what is the hue and cry over the endowments in the major universities, the direct beneficiaries of successful oil exploration, both inland and offshore?