Vol.1 Issue 41 November 1st. , 2003
Send comments and
suggestions. or get more information at
of the Week:
buy into a stock that has hit its first high in a long period
of time. Holders are going to jump ship!"
President, SpreadTrader.com Five Point Star Trader System, and
nationally syndicated radio personality.
Sweat: How Levi Strauss and Reebok Cleaned Up Child
Labor in the Sporting Goods Industry. By Natalie
Wynne Pace, CEO, iSophia.
Up, Yao Ming or Tommy? Will privately held Juicy
Couture and Frankie B. be all the rage again this year,
or can the giants of the industry, like Nike, the Gap,
Tommy Hilfiger, Reebok and Guess? buy back market share
with a well-known or pretty face?
11 Signs the CEO is Rolling in Your Dough, In honor
of the alleged thief who would be Prince Charming, Dennis
Kozlowski, who spent two million in Sardinia, Italy
(one million of Tyco $$) to celebrate his wife's 40th
Guide to P/E Ratios. Making sense of the numbers
and the nebulous "N/A." (Hint: It does NOT mean not
applicable.) By Paul Woods, CEO of Odyssey Advisors.
www.OdysseyAdvisors.com. 310.568.4700. pwoods@OdysseyAdvisors.com.
to Use What You've Got to Get What You Want. By
Marilyn Tam, in her own words. Ms. Tam is a firm believer
that once you find your mission in life, you can then
fulfill your dreams, achieve whatever you desire and
find life's ultimate pleasure-inner peace.
Not Everything: One play day with a foster child could
be just the hope, the talisman that she needs. ACT
NOW & REGISTER for the International Day of the CHILD
on NOVEMBER 9, 2003 in Los Angeles, CA.
Money. iSophia scouts find two very unique ways
to spoil yourself with a little of that money you've
been making in the market this year.
Galas, networking luncheons, seminars and special
opportunities! Don't miss what's happening. Click on
the Calendar section of the iSophia web site.
Sweat: How Levi Strauss and Reebok Cleaned Up Child Labor in the
Sporting Goods Industry
by: Marcel Crozet. Photo courtesy of the International Labor Organization,
Wynne Pace, CEO, iSophia, a leading Women's Investment Network.
think it all began in 1996, when a picture published by Life
magazine launched a thousand words, public outcry, the formation
of the FoulBall Campaign, international attention and hostile
hyper-focus on the U.S. apparel companies, which were employing
children in foreign factories to make clothes, sporting goods
and soccer balls. Tariq, the 12-year-old who hunched over, sewing
tiny soccer ball hexagons all day long for less than sixty cents,
became a placard name and an international symbol of public embarrassment
for Nike. It is assumed that this public attention and the subsequent
boycotts of Nike products were the instrumental forces in eliminating
child labor in third world companies. However, years prior, as
early as 1992, socially conscious companies like Levi Strauss
and, later, Reebok, were working diligently behind the scenes
to create effective social reform that would become the template
for responsibly relocating third world children from the factories,
brick quarries and more hazardous occupations, and into apprenticeship
programs and schools.
most Americans don't realize is that boycotting child labor, without
implementing the necessary social reform, MERELY MADE THE PROBLEM
child labor has almost been eliminated in the apparel industry,
and companies like Levi Strauss, Nike, Reebok, Puma, Adidas, the
Gap, Ralph Lauren, each have "no child labor" policies,
along with the monitoring systems to ensure that the policies
are actually adhered to. (Levi Strauss is recognized in the industry
as taking the early lead in eliminating child labor over a decade
ago.) The International Labor Organization reports that, in less
than three years, 132 countries have ratified ILO Convention No.
182, which calls for immediate action to ban the worst forms of
child labor. According to Caroline Lewis, an ILO spokesperson,
"Since 1995, when the ILO/IPEC project was launched in Bangladesh,
the number of textile factories employing children was reduced
from nearly 45% to 2.5% of the total. The actual number of children
employed has been reduced from nearly 10,000 in 1995 to around
1500 [currently]." Admittedly, to ensure that children are
not used clandestinely, monitoring of the factories is ongoing,
and factory owners are threatened with the loss of contracts,
if they are discovered to be in breach of the International Labor
good news did not result overnight due to U.S. boycotts. It was
a long-term commitment that began years BEFORE the Life
expose, a commitment that required coordination, communication
and charitable contributions between governments, private companies
and international watchdog organizations. The process did not
begin by immediately firing the children from their jobs, but
by addressing the social issues that forced children into labor
in the first place. It stands to reason (though many boycotting
Americans may have not considered this), that when children are
fired from soccer ball stitching factories, schools do not magically
spring up for them to attend. Tragically, what occurs instead,
is that the destitute families are forced to send their children
off in search of another job. Oftentimes, the alternative occupation
is more dangerous, with less pay, than what the child experienced
in the apparel factory.
to the International Labor Organization (www.ilo.org),
211 million children ages 5-14 are still suffering under the conditions
of child labor, and this brand of child labor is not Hollywood
style—kids singing, dancing and playacting for a living, getting
personal tutoring, their own crafts table and a trust fund for
college. The internationally recognized definition of child labor
excludes children 12 and older, who are just working a few hours
of light work each week. It focuses instead on children 15 and
under whose work is hazardous, who are not given adequate education
and who are, many times, forced to work under subhuman conditions.
According to the ILO, 171 million children ages 5-17 are working
in hazardous situations, with 8.4 million involved in the worst
forms of child labor, like trafficking (1.2 million children),
forced and bonded labor (5.7 million), war (300,000), prostitution
and porn (1.8 million) and illicit activities (600,000). The conditions
under which these children are forced to work read like a sordid
headline from the Industrial Revolution--lack of light and/or
ventilation, extreme heat and/or cold and backbreaking labor that
can result in death, maiming and/or loss of limb, not to mention
the lifelong psychological damage of war, prostitution and corruption.
Some of the worst occupations and situations that these kids have
been subject to include: airport runways, railway stations, dangerous
animals, brick manufacturing, care for mentally disturbed individuals,
carpet weaving, night clubs and bars, machinery, prisons, mining,
war, asbestos, mercury, radioactive substances and corpses. (If
you wish to help the International Labor Organization work on
these very worthy causes, there are web links listed at the end
of this article.)
While no one
can justify having children stitch hexagons into soccer balls,
the story behind Tariq's picture is that 60 cents a day sewing
soccer balls was a actually a step up for many impoverished kids,
a good deal better than the alternative--thirty cents a day making
and hauling bricks, a dangerous occupation with a high rate of
injury, or one of the more lethal occupations, including war,
that are listed above. It was this understanding-- that simply
eliminating child labor from the soccer ball factories would only
WORSEN the problem--that sparked a three-year commitment from
Levi Strauss and, later, Reebok, to responsibly eliminate child
labor from the making of soccer balls, to set the standard for
apparel production world wide and to raise human rights consciousness.
The challenge wasn't just to get the kids out of the soccer ball
production line. It was to truly create a social scenario that
would responsibly address the situation that got the kids there
in the first place, namely poverty, lack of education facilities,
adult unemployment and illiteracy.
Levi Strauss discovers child laborers in two factories in Bangladesh
firing the children does not ensure that the children will get
suited up and sent off to school, what is a company like Levi
Strauss to do? That was the problem that the company faced back
in 1992, when members of the factory monitoring team discovered
that two factories in Bangladesh were using child laborers. Instead
of immediately firing the children and/or switching factories--two
solutions that would only have the appearance of eliminating the
problem--Levi executives turned to the company's core values.
According to Michael Kobori, the Director of Levi Strauss' Global
Code of Conduct, the Levi Strauss credo calls for adherence to
four corporate principles: empathy, originality, integrity and
courage. (How many companies even have a Global Code of Conduct
division?) Upon discovering the problem of child labor in Bangladesh,
the Levi executives lead with empathy, which meant asking questions
to try and understand the situation from the viewpoint of the
various shareholders—the factory owners, the local governments,
the families and the children themselves.
the kids going to school? What schools? Before you get schools,
first you have to educate the teachers and then build adequate,
clean, ventilated facilities. Yet, the problem was deeper than
that. Even if the schools were built, the children would not be
able to attend, unless their parents were educated to become the
wage earners for the family, and the factories were equipped with
machinery to make the soccer balls. Little fingers are perfectly
designed for the pinpoint stitching required to create handmade
soccer balls. Levi Strauss' handling of this situation, by finding
a way to address the needs of all of the shareholders involved,
formed the basis of what would become the platform of reform in
the industry, which, according to both Levi Strauss and Reebok,
came to be adopted by UNICEF, the U.S. Embassy and the U.N. Mr.
Kobori reports, "We worked with the contractors, the government
and the local industry association to send those [child] workers
to school, to provide their families with stipends to cover lost
income, and offer the workers employment when they completed school.
This program has become a model for the industry, government,
and UNICEF, which have replicated it in
other locations in Bangladesh."
picks up the ball in Pakistan, 1994, two years BEFORE the Life
expose on child labor, Nike and Tariq in the June,1996 issue.
to Marilyn Tam, the former President of Reebok's Apparel and Retail
Products Group and a former board member of Reebok's Human Rights
Foundation , the first thing Reebok did, before initiating the
manufacture of soccer balls in Pakistan, was to take a page from
the labor standard handbook of Levi Strauss, the company known
to have the biggest social conscience, at the time. The first
stages of reform sound fairly benign and easy to implement. Find
out what the living wage is in the country, and pay it. Find out
which factories don't have ventilation and get the air flowing.
However, convincing the factory owners that these policies would
actually result in better profit margins was not an easy sell.
In time, the owners did come to realize that mistakes and rejects
went down, while quality went up under better working conditions,
and that those combined factors increased the profitability. Getting
the factory owners on board proved to be only the first giant
step of larger, systemic reform, however, a commitment that took
Reebok out of the factories altogether and into the business of
soccer balls, fire bricks or starve
order to ensure that the parents didn't just send their unemployed
children down to the brick quarry, and that the kids got access
to an education instead of a hazardous occupation, Reebok had
to commit to a long-term quest for improved life in the region
(just as Levi Strauss had done years earlier in Bangladesh). The
process took THREE YEARS. According to Marilyn Tam, Reebok first
went to the community leaders with the question, "If we fix
our system, will you let the kids go to school?" "Sure,"
was the response, "If we had any schools." As Ms. Tam
points out, "Here we are living in America, with conveniences
that the rest of the world can only dream about. We assume others
have light, school, books and they have none of these things."
Reebok's task was not only to fund and build the classrooms and
to train the teachers, but to justify this incredible leap off
the business plan to bottom-line oriented shareholders.
been eliminated for all foreign children, but the conditions of
the work have drastically improved and opportunities for education
have emerged. In the words of 15-year-old Khalid Hussain, of Sialkot,
Pakistan, "The reason I stitch footballs is because my parents
cannot afford the costs of my education. I stitch one football
per day after school. With that money, I pay my school fees, get
extra tuition and buy uniforms, clothes and shoes, as well as
paying for fixing my bike." (source: Convention on the Rights
of the Child)
news is, thanks to the high road, holistic approach employed initially,
by companies like Levi Strauss and Reebok (under the watchful
eye of organizations like FoulBall and the ILO), life has improved
for most children, not all, in the areas surrounding the heavily
monitored sporting goods factories. Thanks to leaders like Dan
McCurry (the campaign director of the FoulBall Campaign), Robert
Reich (the former U.S. Secretary of Labor) and President Clinton,
who signed the Sanders' Amendment to the 1930 Tariff Act in November
1997, which bans "importation into the USA of any good, ware,
article or merchandise that is mined produced and/or manufactured
by forced or indentured child labor," laggard companies of
the labor reform movement are now on board with the new standards
established by the International Labor Organization (which is
based in Geneva, Switzerland). Former high profile child labor
offender, Nike, now has the highest age limitation in the industry,
of 16 and 18, while the other companies refuse products made by
children under 14 and 15. Each of the top companies, including
Adidas, Levi Strauss, Puma, Reebok, Nike, Ralph Lauren and The
Gap, now have no child labor policies and active monitoring systems
to ensure that their policies are adhered to. The penalty for
noncompliance with the industry's NO CHILD LABOR policies is severe.
Oddly enough, the missing link in this united front against unfair
labor practices and the exploitation of minors may be the most
vocal supporter—the American consumer.
consumers still inadvertently perpetuating the old practices by
insisting on buying $3.00 t-shirts? Do American spenders have
a very keen understanding of how their retail choices perpetuate
poverty and injustice in third world countries?
it possible that you can still pick up a shoe, t-shirt or pair
of shoes that are crafted in a sweatshop by a child? How is a
consumer to truly know? One of the most obvious ways is to put
your money where your mouth is, according to Marilyn Tam. If you're
paying ten bucks for three t-shirts, do the math! Ms. Tam says,
"Are you buying the $3 t-shirts? 3- for $10
t-shirts make things go back the other way. The manufacturer can
only sell you what you want to buy. If you're demanding the lowest
price, chances are you're not living up to the standards you say
you believe in."
the FoulBall Campaign and the International Labor Organization's
International Programme on the Elimination of Child Labour (IPEC)
are great examples of what can be accomplished with the power
of information aligned with the power of international attention.
Shareholder pressure on Home Depot resulted in better wood preservation
practices. However, the quiet reform first established by Levi
Strauss and later expanded through Reebok, two companies that
don't take great pains to publicize their policies and programs,
is equally worthy of notice. Headlines scream daily about the
corruption on Wall Street, but what about the companies that get
it right FIRST? More than ever, with so many corporate criminals
lining up for trial and jail time, investors are keenly interested
in placing their bets on with the good guys, with the knowledge
that an honest dollar makes sense on every balance sheet—financial,
moral and emotional.
Is the fight
for labor fairness, clean air, peace and enlightened prosperity
over? Certainly not, but at least there are signs that effective
change is being forged. And the average consumer who is still
worried about whether or not her ninety dollar shoes are being
stitched by little fingers can rest a little easier at night.
Watchdog organizations are now onto other labor concerns, including
improving the conditions of adult laborers and taking machine
guns out of the arms of young boys, but at least, for the most
part in the sporting goods industry, the public discussion now
centers on improving the working lives of adults, not seven-year
Additional research provided by Leslie Richardson and Meri Ann
Beck-Woods of Odyssey Advisors.
(International Labour Organization)
is now a corporate consultant helping companies to achieve their
bottom line goals in a socially responsible way. Her latest book,
How to Use What You've Got to Get What You Want outlines
the process for individuals. Read on in this e-zine for an excerpt
from Marilyn's book, in her own words. Next week, we'll feature
an exclusive one-on-one interview with Ms. Tam, where she will
reveal four of the secrets to her extraordinary rise in the corporate
world. Ms. Tam will also be featured in the iSophia chat room
on Wednesday, November 19th, from 8:45 - 9:30 a.m.
Natalie Pace does not own positions or stock in any of the companies
mentioned in this article.
Up, Yao Ming or Tommy?
surveys indicate that Americans, after three years of cutting
back on their holiday spending, are ready to reward themselves
a little. Will privately held Juicy Couture and Frankie B. be
all the rage again this year, or can the giants of the industry,
like Nike, the Gap, Tommy Hilfiger, Reebok and Guess? buy back
market share with a well-known or pretty face?
has Lauren Bush (George Dubya's daughter) and Bowie wearing his
new line. Reebok signed Yao Ming. The Gap has been featuring famous
couples. So, why is everyone on the West coast wearing Juicy and
low slung Frankie B. jeans? Will the giants of the sportswear
world be knocked out by the rookies, or will Yao Ming "be
like Mike" and inspire millions of youth to hound their parents
into buying two hundred dollar shoes?
Now that the
industry is virtually clean from child labor issues, you can plunk
down your C-spot for sport shoes, jeans and board shorts with
much greater glee.Yes, for some of us, spending is as sweet as
chocolate, and we regret to announce that Juicy Couture is not
a publicly traded company! Unfortunately for investors, neither
is Levi Strauss.
retail has been through the war over the last few years, however,
Quiksilver has been expanding its market share, opening stores
abroad and posting notable growth. K-Swiss
recently reported an 84.8% increase in 3Q 2003 net earnings over
the same time last year. Nike remains a favorite with the analysts.
Reebok, one of the leaders in the reform to eliminate child labor,
has the lowest P/E in the industry and scored big-time with the
recent signing of NBA star, Yao Ming.
will light up your wallet with share gains? To help you place
your bets, we've lined up the numbers and recent earnings news.
The iSophia Stock Report Card features the top sportswear manufacturers,
from mainstays: Nike, Reebok, the Gap and Tommy Hilfiger to former
fashion faves: Guess? and Polo Ralph Lauren, to recent trendsetters
(in fashion and earnings growth): K-Swiss and Quiksilver. Click
here for iSophia's stock report.
11 Signs the CEO is Rolling in Your Dough.
honor of the alleged thief who would be Prince Charming, Dennis
Kozlowski, who spent two million in Sardinia, Italy (one million
of Tyco $$) to celebrate his wife's 40th birthday.
- CEO and
CFO sell millions of shares on the same day. (Moneycentral.msn,
Morning Star, brokerage sites, etc. have handy little clicks
to peek at insider trading activity.)
- Two of
the top three—CEO, CFO or COO—are formerly investigated by
the SEC. (Get out of the stock before the company puts
them on paid leave!)
theory and the darkest caverns of your lover's brain are easier
to understand than the company's Quarterly reports. (As of
2002, the SEC has strict guidelines on earnings. Loans are
banned. The CEO & CFO sign off on their accuracy. Still
analysts complain about the aggressive strategies of some
companies.) To view the reports firsthand, go to sec.gov.
Click on EDGAR. Enter in the company's name. Warning: These
reports are lengthy, but contain the most candid, reliable
language available on the company's current status.
prices have dropped faster than the Titanic, but earnings
reflect steady growth. (Think telecommunications industry.
Prior to the share price plunge, long-distance prices took
a sky dive to below five cents a minute, from 13 cents per
- The stores
are filthy and overstocked (or severely under-stocked), and
employees shrug off your questions, but earnings reflect steady
growth. (K-Mart, prior to the bankruptcy filing.)
- You could
swim to Antarctica in less time than it takes for credit adjustments
to appear on your monthly bill or back-ordered merchandise
to be delivered.
spotted more frequently in the society pages than in the office.
(Think ImClone. If your CEO is partying with rock stars, they
are at least inhaling the hubris, arrogance, late nights and
drugs that linger in the miasmic fog of night clubs.)
especially compensation committee, is made up almost entirely
of CEO cronies. Alternatively, the CEO manages to perform
the same buddy-buddy, quid pro quo function on the boards
of his/her friend's companies. (Still rampant on Wall Street.
Too many companies to mention. Able to fill a book.)
40th birthday party takes place on the island of
Sardinia, Italy. Jimmy Buffett plays. Price tag: $2,000,000,
of which expense the company bites off half. CEO justifies
the expenditure with an executive meeting. (err… Do we have
to mention the word, Tyco, here? Shall we try to imagine some
of the illicit details that were edited OUT of that now infamous
companies team up to "swap" services they can't
sell (and inflate the "revenue" value on the books).
is Good" speech is enlarged, framed and hanging behind
CEO's desk. (Greed is also seen in the actions of the company.
Were they FIRST to get rid of child labor? Do they have corporate
offices and one board meeting a year in Barbados, while 99.9%
of the company's offices, stores and employees are located
in the U.S.?)
It may be
cute to see Gore dancing at the inauguration or Clinton blowing
the horn on late night television, but if a CEO is caught candidly
trying to get down and dirty with the common vices that the commoners
engage in, beware! A drunk might take a nasty tumble down a ravine,
but when executives do that, they tend to take the company down
with them—at least for the life of the headline!
Guide to P/E Ratios.
sense of the numbers and the nebulous "N/A." (Hint:
It does NOT mean not applicable.) By Paul Woods, CEO of Odyssey
gyrations in the stock market cause many people to equate investing
in equities with a wild ride to Las Vegas, keeping investors entertained
is the secondary concern of Wall Street (truly, honest!). The
primary job of the stock market is still to place a value on publicly
traded businesses. These businesses are divided into shares, and
the price of those shares rises or falls on earnings and the valuation
assigned to those earnings.
P/E ratios are calculated
the earnings of publicly traded companies is divided by the number
of shares outstanding, to produce earnings per share. Valuation
is then determined by dividing the current price of a share of
stock by earnings per share. The result is known as the price
to earnings ratio or P/E ratio for short.
If you see a negative number or N/A in the P/E spot, that means
the earnings are NEGATIVE, that the company is losing money.]
a net increase in either side of this equation [earnings or valuation]
will produce a higher stock price. The two warring camps in investing,
value and growth, are both trying to accomplish the same thing,
but in a different way. Value investors buy stocks with low P/E
ratios hoping that either valuation will increase or valuations
won't go any lower and earnings will increase. Growth investors
focus on companies likely to increase the earnings side of the
equation while hoping that valuations will at least remain steady.
investment professionals spend a disproportionate amount of time
obsessing over earnings, changes in P/E ratios usually have a
greater impact on returns over shorter time periods. Even though
it would take a book to do justice to this subject, there are
a few basics to keep in mind.
stocks are in constant competition for investor dollars. Investors
know that the long-term return on common stocks is around 8-10%
per year over longer time periods. Investors also know that most
bonds have less risk than common stocks. As a result, when interest
rates begin to approach or even exceed 10%, investors shift from
stocks to bonds in order to get the same long-term return with
less risk. P/E ratios decline [as more and more investors unload
their shares], and historic lows in stock market valuations tend
to coincide with periods of high interest rates.
is also true. When bonds offer comparatively low returns, as they
do at present, some investors are more willing to take the risk
of owning stocks. P/E ratios in the stock market tend to be higher
during such periods as a result.
primary factors that influence valuations are earnings stability
and the expected growth in earnings. Other things being equal
(which they rarely are), companies with stable earnings growth
usually receive higher valuations than companies whose earnings
are less predictable. [iSophia note: Investors feel more comfortable
investing in the stable earnings growth.] In addition, there is
usually a correlation between P/E ratios and expected growth in
earnings. In most cases, higher valuations are assigned to companies
with above-average growth rates. Conversely, mature companies
usually receive lower P/Es.
Mature companies that are in trouble, particularly in the airline
sector, may go underwater, posting more expenses than earnings.
Their P/Es are negative or N/A, as a result. Other young companies,
like Jet Blue at its Initial Public Offering last year, have a
negative P/E because earnings haven't yet caught up to the money
spent to launch the company.]
To put this
in context, consider the historic bull market in stocks and subsequent
historic decline during the last decade. For decades before the
1990's, the U.S. economy went through continuous boom/bust cycles.
The boom periods tended to coincide with Presidential election
years, with the bust usually coming a year or two later. Long-term
growth in the U.S. economy, adjusted for inflation, was about
2 1/2 % per year.
In the 1990's,
heavy investments in technology appeared to change the equation.
The world's largest economy saw real growth accelerate by over
50% to around 4% per year. Not only was economic growth accelerating,
but also growth was steady. Boom/bust cycles appeared to be a
thing of the past. Economic theories were turned upside down as
interest rates declined steadily during this period of high growth.
of lower interest rates, accelerating economic growth, and increased
stability caused P/E ratios to rise to historic highs. In the
aftermath, few members of the financial press are able to write
about this period without using terms such as fever, mania, or
bubble. In reality, however, valuations at the time were consistent
with the overall environment.
In the late
1990's, the Federal Reserve became nostalgic for the old days.
Although it took a while, the higher interest rates they engineered
finally brought us back to the days of boom/bust cycles and slower
growth. With higher interest rates, more volatility in earnings,
and reduced growth, most of the damage to investor pocketbooks
in 2000-2002 came from the lower P/E ratios given to stocks in
response to the Federal Reserve's war on prosperity. [Investors
flocked once again to the safer haven of bonds, which were experiencing
strong, safer earnings.]
for the current calendar year are most commonly used in the earnings
per share side of the equation. The problem is that some companies
report their earnings on calendar years while others report earnings
on a fiscal year that ends in any month except December. To make
earnings and valuations comparable, some investors adjust expected
earnings so that all companies are evaluated on a calendar year
assume a company has a fiscal year ending in June. In June 2003,
earnings per share were $1.60. The consensus estimate for June
2004 is $1.90 per share. To make earnings expectations comparable
with companies on a calendar year, an estimate of $1.75 per share
would be used for this company. With some adjustments, this method
can be used to adjust for any calendar year.
the outlook for valuations is mixed. Interest rates have begun
to increase again in response to an improving economy. In such
an environment, earnings may play a bigger role than usual in
to Use What You've Got to Get What You Want.
founder and Executive Director of the Us Foundation,
former President of Reebok's Apparel and Retail Products
Photo Credit: Clint Weisman
her own words. Ms. Tam is a firm believer that once you find your
mission in life, you can then fulfill your dreams, achieve whatever
you desire and find life's ultimate pleasure—inner peace.
the excerpt below, Ms. Tam talks brass tacks of some of the pitfalls
that occur when you don't apply the tools of the trade to your
worthy projects. Marilyn Tam is the former President of Reebok's
Apparel and Retail Products Group, the founder and Executive Director
of the Us Foundation (www.usfoundation.org)
and a respected corporate consultant who helps companies to achieve
their bottom line goals in a socially responsible way.
Be sure to
tune into the next issue of iSophia, when we interview Ms. Tam
on the four essential principles of Using What You've Got to
Get What You Want. The iSophia November 19th Wednesday
Worldwide Chat will feature Marilyn Tam from 8:45 - 9:30 a.m.
PST. iSophia members are invited to join us online and ask individual
An excerpt from Ms. Tam's book, How to Use What You've Got
to Get What You Want:
may not always have a first time out success. I can tell you from
painful personal experience that sometimes things won't quite
work as you envision them. I had been determined to make a positive
difference in life since childhood. And yet, I failed miserably
in my first attempt at creating a nonprofit foundation that would
make a difference.
A mutual friend
introduced me to a man we'll call Jim. Jim had big ideas. He wanted
to create a global nonprofit that would build a dialogue between
world leaders in order to foster peace and understanding through
the creation of common goals for all nations.
to fund this dream through complicated stock futures and a stock
trading system. I was not at all versed in the world of investments.
My life had been spent creating tangible goods and services. To
me, the stock market was my father and brother's domain. I knew
it was a world where vast wealth was easily gained and lost, but
its machinations were vague and uninteresting to me. Because this
was my first opportunity to create a nonprofit and I was inexperienced,
my due diligence was completely inadequate; and in my eagerness,
I totally ignored all that I learned in business about set-up
and organization. Looking at Jim's lifestyle, I gathered that
he had been able to make the system work and I left it at that.
I took Jim at face value. If I had any doubts, I quelled them,
reminding myself of how strongly his words resonated with my soul
and of the fact that a reputable person had referred him.
On this flimsy
analysis, I joined forces with Jim to fund and create our Camelot.
After several months of encouraging signs, I gave him a check
for a significant amount of money to support the foundation. But
as time went by, Jim gradually became less and less available.
Finally, he confessed that his system was not working and that
most of my investment money was gone. He continued to spin more
stories about how he just needed a little more time and a bit
more money to make the system work.
on regaling me with stories of wonderful philanthropic possibilities.
It was becoming more apparent that Jim's system did not work,
and that my money had probably gone to supplement his family's
lifestyle. Thankfully, I woke up in time to stop funding this
Quixotic dream…When I took a hard look at what had happened, I
realized that by allowing the glow of my dream to blind me, I
had failed to do what I had always done in business—ask the right
questions and then decide whether to proceed. It was a painful
lesson, but one I never forgot.
reflection, I decided that the idea itself had been good. But
the execution had floundered. I returned to my mission of creating
more peace and harmony on the planet and formed a new nonprofit
on a much more solid footing. This time, I asked the hard questions.
- Why do
I want to do this?
- Is there
a definable market niche?
- Is it a
big enough market to warrant this project?
- Is anyone
else doing it?
- If it's
such a good idea, why hasn't it been done before?
- Are other
people thinking about doing this?
- Who are
- How will
I compete with them?
- Do I have
the financial backing to do this?
- What don't
- How will
I get [those things]?
- Have I
reached critical mass to have a high probability of success?
book, How to Use What You've Got to Get What You Want,
receives an average 5-star rating from Amazon.com customers. In
her book, Ms. Tam talks about how to discover your own inner North
Star, and how to use it to navigate your efforts to achieve maximum
personal success. The hardcover is just $14.00 on Amazon.com.
Check it out!
to tune into the next iSophia e-zine, when we feature an exclusive,
one-on-one interview with Marilyn Tam and reveal her four core
secrets of success. Ms. Tam will also be available in the iSophia
chat room on Wed., 11.19.03, from 8:45 - 9:30 am .PST. Members
are encouraged to join Marilyn online, where she will answer and
address your personal questions, longings and desires.
Not Everything: One play day with a foster child could be just
the hope, the talisman that she needs.
NOW & REGISTER for the International Day of the CHILD on NOVEMBER
9, 2003 in Los Angeles, CA.
Day of the CHILD on NOVEMBER 9, 2003 takes nearly 3,000
of Los Angeles' most high risk children from foster homes, residential
facilities and homeless shelters for a day of fun, games, rides
and love. The children receive care packages including clothing,
books, educational materials and toiletries, which are donated
by generous companies and organizations. Community based organizations
set-up information booths on-site. This event is designed to bring
awareness and support the needs of the children who by no fault
of their own are living in and out of home care. The "Day
of the Child" is the community's way of letting these children
know that someone cares. Mentored children are more likely to
find ways of surviving within the community without turning to
crime, drugs, or gangs. The Day of the Child involves countless
hours and dedication from numerous volunteers and hundreds of
mentors. National recording artists provide entertaining performances.
This year's hosts are: Pierce and Kelly Brosnan, Jane Seymour,
Sela Ward and others.
1) Call 310.271.8421
to register NOW. Visit www.childrenunitingnations.org for more
prepared to spend your day with a foster child. Relax and be in
a flexible mood!
am - 5:00 pm.
Hills, CA 91371
9:30 - Mentor Orientation
11:00 - Children Arrive
5:00 - Children and Mentors Depart
iSophia scouts find two very unique ways to spoil yourself with
a little of that money you've been making in the market this year.
Varekai or any of the four Cirque du Soleil shows that are currently
in production worldwide. With the price of a ticket
(not cheap, but well worth it) you can leave this world, and step
into a tent where sound, awe-inspiring athletic achievements,
stunning visuals and slapstick French farce twist your brain into
taffy, while seducing your heart, aspirations and wonder. This
is a circus with no animals, just humans performing death-defying
feats (without a net), with sufficient grace and beauty to make
Baryshnikov teary-eyed. If you don't want to take our word for
it, consider that Cirque du Soleil has won over a hundred awards
and distinctions for originality in its shows and excellence in
management, including five Emmys, an ACE, and much, much more.
The human juggling--yes, as in juggling people--is one of the
most incredible feats our group had ever seen. Varekai plays in
Los Angeles, CA through November 23rd. Call 1.800.678.5440
or book online at www.CirqueDuSoleil.com.
Other shows currently in production: Quidam (Japan tour), Mystere
(Treasure Island, Las Vegas, Nevada), O (Bellagio, Las Vegas,
Nevada), La Nouba (Walt Disney World Resort, Orlando, FL).
Woodstock Locations. Vacation rental in a historic setting.
From the late 1940's through late 60's, the Woodstock Locations
house served as a small private playhouse and dance hall for the
Tapooz Country Inn, an Armenian summer resort. The house was then
turned into Applehead Recording Studios when Michael Lang, executive
producer for the original Woodstock festival, purchased the property.
Now after a full renovation, Woodstock Locations is available
as a film/photography location as well as year round vacation
rental. Minimum stay is flexible and the center of Woodstock is
a short 4 minutes away.
Robinson -- firstname.lastname@example.org
networking luncheons, seminars and special opportunities! Check
out what's happening online at the Calendar section of the web
site. If you'd like to add an event to our calendar, email a
two-line description, along with price, web link and contact
phone number to info@NataliePace.com.
VISION: To build
a global community of investors through seminars, a world-wide
web-site and, ultimately, television.
GOAL: Working change: To promote successful investing and ethics
MISSION: To build a global investment community by providing easy
access to important financial news, by promoting a dialogue between
members and industry professionals and by promoting ethical business
practices, products and services.
PHILOSOPHY: The W.I.N. philosophy centers around five principles:
Ongoing Education, Monthly Commitment, Diversified Portfolio,
Ethical Business Practices, Pooled Resources.
For more information on W.I.N. contact us at info@NataliePace.com
The NataliePace.com is NOT a stock brokerage service,
and does not operate or act as one.