Latest news with #TheWayForward
Mint
28-05-2025
- Business
- Mint
Raj Bhatia: Don't shy away from hiring your own child
Advisors who are thinking about succession planning should consider hiring their children, particularly if their offspring is genuinely interested, has ample work experience, and can bring expertise to the firm, says Raj Bhatia who has been with Merrill Lynch since 1981. Today, the private wealth advisor at the $2.5 billion Bhatia Group, which is part of Merrill Private Wealth Management, works alongside his daughter, Ariana. 'My daughter grew up in a household where the dinner conversations were all around things like clients and markets and so forth," Bhatia says on the latest The Way Forward podcast. 'And fortunately for me, she decided to go into business and finance with her education and career as opposed to following her mother's footsteps in becoming a doctor." After a few years working in private equity, Ariana concluded that it wasn't an ideal fit. 'She said to me, 'I've done that and I recognize that you go from one transaction to the other [in private equity], but Dad, I have seen you build relationships where your first client is still your client. That's what I want to do with the rest of my career.' So, the time was right and the firm helped me to bring her over. That's how she joined me last year and I'm glad that I got her in." Below are highlights from our conversation, which have been edited for clarity. His advice for advisors considering hiring a family member. 'When I get calls from other advisors in a similar situation, the thing I say to them is that there is a big difference between retirement planning and succession planning. In retirement planning, you're planning for one person. In succession planning, you're planning for many people and start the process 10 years ahead of time if you wish to leave a legacy." Minimize regrets. 'Most people optimize income and returns. I say minimize regrets. When I said this to her [Ariana], it was obvious that [this was better] than her coming back in 10 years saying, 'Dad, why didn't you ask me to join your business? If your adult son or daughter says, 'Dad, Mom, thanks but no thanks,' then you have read them their Miranda rights! It's up to them. Then they can't say 'I have a regret because you did not encourage me.' It can work out. When it works out, it works out very well." The pros far outweigh the cons. 'The upside in these moves can be huge. And the downside, I think, is limited in the sense that it's nothing irreversible should things not work out. The thing that I would suggest to people is to give it a fair amount of runway. In other words, I'd say a minimum of three to five years of runway where you're spending the time to mentor. That will produce better outcomes and results." Navigating the personal and the professional. 'Treat them as equals. Because if they're joining your business and you're still treating them based on how you see them as your offspring—as they say, 'they're born of us, but they're not us'—you have to acknowledge that and be ready to have a mechanism, a structure in place where the best argument wins or the best suggestion wins, as opposed to, 'Mom said this, Dad said this, and this is my way.'"
Express Tribune
17-05-2025
- Business
- Express Tribune
Same slides, new fiscal year
Listen to article It is that time of the year again. No, not mango season — though that might offer more sweetness than what is coming. It is pre-budget seminar season in Pakistan, our annual economic charade where universities, think tanks, chambers of commerce, and just about every office with a whiteboard and Wi-Fi hold solemn gatherings to discuss 'The Way Forward'. PowerPoint clickers are charged, macroeconomic jargon is dusted off, and economists reappear like migratory birds, repeating the same truths that have now become ritual chants. One wonders: is there a secret mandate from the Ministry of Finance compelling every economics department to host at least one budget seminar before June? Or is it just national cosplay everyone pretending their budget recommendations will somehow find their way into the corridors of power, where the actual budget is being stitched together in Excel sheets, under IMF supervision and political desperation? The truth is that these seminars have become Pakistan's economic folklore. They appear in May, make a bit of noise, generate a few tweets, and vanish without a trace much like the budgets they try to influence. Let us take a moment to salute our brave economic commentators. Year after year, they appear on stage like clockwork, armed with the same prescriptions: broaden the tax base, rationalise subsidies, increase exports, fix the energy sector, reduce the fiscal deficit, and invest in human capital. They are not wrong. But it is hard not to notice that they have been saying the same things since 2020. Or was it 2010? Actually, some of these slides are so old you can almost smell the Windows XP on them. One prominent economist even used the exact same line this year as last: "We must delink politics from economic policy." If only he could also delink himself from this loop of budget déjà vu. And then there are the PowerPoint slides, gloriously adorned with World Bank graphs and IMF warnings, showcasing declining tax-to-GDP ratios (currently hovering around 9.2 per cent, the lowest in South Asia), rising debt-to-GDP (77.8 per cent in FY24), and current account deficits as if they were horoscope signs. Everyone nods solemnly. We have seen this show before. Now let us ask the forbidden question: do these recommendations ever reach the Ministry of Finance? If they do, is there a designated intern who bins them with a polite auto-reply? Or do they simply fade into the budget void like an old PC's startup sound? One can only imagine the Finance Division receiving a report titled 'Budget Reform Proposal from Institute of Economic Rethinking' and responding with a group chuckle before going back to their IMF spreadsheets. There is no evidence — none that these seminars have ever substantively influenced a federal budget. Not even a footnote. Even more absurd is that the actual budget-makers — bureaucrats, special assistants and IMF whisperers - rarely attend these events. It is like holding wedding rehearsals without the bride and groom. The audience is often a mix of students, donors, NGO representatives and retired civil servants enjoying the air conditioning. What we are witnessing is not policy input. It is policy theater. There are photo opportunities, panel selfies, hashtags and post-event pressers. Some speakers use it to test-drive op-ed ideas. Others hope to impress the donors in the room. And a few institutions hold these seminars so that they can say in their annual report: "XYZ Think Tank contributed to budget discourse through a high-level policy roundtable." And why not? The show must go on. After all, what else are we to do when the economic reality is bleak and largely pre-decided? Pakistan's FY25 budget will be written with one eye on the IMF (which has already demanded a tax revenue target of Rs12.97 trillion), and another on urgent financing needs from bilateral partners and financial markets. Within this harsh matrix, how practical is it to propose, say, "cutting non-development expenditures" when 52 per cent of the budget is already going to interest payments and another 11 per cent to defence? What is the point of "rationalising tax exemptions" when those with the power to tax are often the ones enjoying those exemptions? And why talk about "reforming state-owned enterprises" when PIA and Pakistan Steel are now punchlines, not policy goals? If this sounds cynical, it is but it is also empirically accurate. Our pre-budget seminars are economic rituals, not reform tools. Like a high-budget drama serial that resets every season, they offer emotional highs, some tears for the middle class, and the illusion of progress. In 2023, over two dozen budget seminars were held in Islamabad alone. Yet Pakistan still missed its fiscal targets, borrowed five billion dollars more than expected, and delayed reforms on pension and energy subsidies again. Even as inflation briefly catches its breath at 0.3 per cent, the rupee continues its downward yoga, and foreign reserves dance around the eight billion dollar line with the enthusiasm of a tired ballerina. So why do we continue this spectacle? Because, much like sending good wishes to the Pakistan cricket team, it makes us feel better even when we know the outcome. To be clear, debate is not the problem. Dialogue is necessary. But repetition without impact is a form of national gaslighting. If the same economists are saying the same things at the same places with the same results, maybe just maybe the problem is not the budget. It is the echo chamber. Let us save the seminar snacks, reduce paper waste, and redirect some of that pre-budget energy toward pushing for parliamentary hearings, public budget scorecards or citizen audit tools. Until then, happy seminar season! Pass the microphone and the samosas.
Yahoo
14-05-2025
- General
- Yahoo
Town hall to honor the legacy of Cynthia Graham Hurd and the Emanuel 9
CHARLESTON, S.C. (WCBD) – A town hall happening in June will honor the memory of Cynthia Graham Hurd and the Emanuel 9, while also reflecting on progress made since the June 2015 tragedy and the path forward for the community and nation. This June will mark 10 years since the Charleston Church Shooting, which claimed the lives of nine people as they attended Bible study at Emanuel AME Church. Among those victims was Hurd, a beloved librarian and community leader. The Cynthia Graham Hurd Foundation for Reading, Literacy and Civic Engagement was established to engage the community through Hurd's love and appreciation for reading. Organizers say the town hall will begin with a praise and worship service honoring Hurd's legacy. It will feature a performance by the 'A Sign of the Times' band with guest artist Toni Tupponce. After the service, attorney and former South Carolina Rep. Bakari Sellers will moderate a panel discussion, 'What's the Way Forward: 10 Years After Charleston' featuring Dr. Tonya Matthews, president and CEO of the International African American Museum, and foundation director Hon. Malcom Graham, Cynthia's brother and author of the book 'The Way Forward'. The event will take place on the evening of June 12 at Emanuel AME Church (110 Calhoun Street). There is no admission fee; however, attendees are encouraged to donate a children's book in support of Cynthia's passion for literacy. Those books will benefit local Charleston reading programs. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Daily Express
23-04-2025
- Business
- Daily Express
Be like Singapore to succeed: Advice to Sabah and Sarawak on failure of MA63
Published on: Wednesday, April 23, 2025 Published on: Wed, Apr 23, 2025 By: David Thien Text Size: Lau said the promises of Malaysia more than 60 years ago included economic development to catch up and be on par with Malaya, being a secular state with no official religion in East Malaysia where there is freedom of religion for all, the majority being Christian with their rights protected. PENAMPANG: Sarawak United Peoples' Party (SUPP) Senator Robert Lau Hui Yew said building up the quality of human resource, like what natural resource scarce Singapore did, is the way forward for Sabah and Sarawak to mitigate the failure of the fulfilment of the Malaysia Agreement 1963 (MA63). He was an invited speaker at the 'Malaysia Agreement 1963 – The Way Forward for Sabah's Economy' organised by Sabah Chinese Economic Conference with its six association members at the ITCC Grand Ballroom. According to him, the official version of the objective of MA63 was 'to bring faster economic development to the Borneo Territories, consisting of Sarawak and Sabah.' But the unofficial version was 'saving Singapore from turning communist.' Lau said the promises of Malaysia more than 60 years ago included economic development to catch up and be on par with Malaya, being a secular state with no official religion in East Malaysia where there is freedom of religion for all, the majority being Christian with their rights protected. Subscribe or LOG IN to access this article. Support Independant Journalism Subscribe to Daily Express Malaysia Access to DE E-Paper Access to DE E-Paper Exclusive News Exclusive News Invites to special events Invites to special events Giveaways & Rewards 1-Year Most Popular (Income Tax Deductible) Explore Plans Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Yahoo
28-02-2025
- General
- Yahoo
Dougherty County School System superintendent nominated for national award
ALBANY – Dougherty County School System Superintendent Kenneth Dyer has been nominated for National Life Group's 2024-25 LifeChanger of the Year recognition. This recognizes and rewards K-12 educators and school district employees across the U.S. who are making a difference in students' lives by exemplifying excellence, positive influence and leadership. LifeChanger of the Year has recognized and rewarded more than 8,500 K-12 teachers, administrators, and school employees in 2,300-plus school districts. Dyer was nominated by Qaran Glenn, a colleague and ASU alumnus, for leading transformational initiatives that have significantly enhanced the academic landscape throughout DCSS schools. 'Mr. Dyer's leadership is grounded in strong ethical values, demonstrated through his community involvement and focus on integrity,' Glenn said. Under Dyer's leadership since 2017, DCSS has reached an 87.1% high school graduation rate, surpassing the state average in five of the last six years. Its third-grade English/Language Arts proficiency levels also have hit historic highs, surpassing pre-pandemic performance. Dyer's strategic planning has led to initiatives like 'The Way Forward,' which emphasizes early literacy, academic rigor and community engagement. He also expanded work-based learning opportunities and realigned Career, Technical and Agricultural Education (CTAE) to meet local industry needs. Dyer also places an emphasis on wellness — social, physical and emotional — promoting programs within schools that provide for students even beyond the classroom. The superintendent also prioritizes financial stewardship, leading the district to achieve its largest general fund reserve in history. Each school year, LifeChanger of the Year receives hundreds of nominations from all 50 states and the District of Columbia. Seventeen individual LifeChanger of the Year awards will be given during the 2024-2025 school year. Dyer is eligible to win up to $10,000 in awards for DCSS. Winners are chosen by a selection committee comprising former winners and education professionals and will be announced in early 2025. Nominees must be K-12 teachers or school district employees. To be considered for an award, nominees must:Make a positive impact on the lives of students;Enhance their school or district's atmosphere, culture, and pride;Demonstrate exemplary leadership at the school and/or district level;Possess a proven record of professional excellence;Show commitment to building a nurturing environment that supports learning;Adhere to the highest moral and ethical standards.
