Fault Lines: How Hidden Fractures Still Threaten the World Economy

Fault Lines: How Hidden Fractures Still Threaten the World Economy Raghuram Rajan Monday, June 14, 2010 | 4:30 p.m. - 6:00 p.m. Milken Institute 1250 Fourth Street Santa Monica Map Video of this Forum will be available on the Milken Institute's website shortly after the event ends. In 2005, Raghuram Rajan was one of the first to publicly predict that a global financial crisis was brewing. Now he is focused on preventing the next one. At a Milken Institute Forum, this leading economic thinker will discuss his new book, Fault Lines: How Hidden Fractures Still Threaten the World Economy, in which he makes his case for what caused the financial crisis and lays out what he sees as the next steps. The winner of the Fischer Black Prize for the economist under 40 who has made the most significant contributions to the theory and practice of finance, Rajan faults the financial sector and regulators - but also the social inequalities that caused politicians to foster an explosion of credit, as well as the export-driven countries that count on foreign consumers to overspend. Incentives to take on risk were out of step with the dangers they posed. Instead of heavy regulation, Rajan says, the incentives for Wall Street need to change so that punishments for losing money are in line with rewards for earning it. The co-author of Saving Capitalism from the Capitalists, Rajan is a professor of finance at the University of Chicago's Booth School of Business and former chief economist at the International Monetary Fund. Rajan is also an economic adviser to the prime minister of India. Fault Lines will be for sale at the forum, and Rajan will sign copies. There is no charge for the Forum, but preregistration is required. To RSVP, please register online. There is no need to register to view the archived webcast. For questions, call 310-570-4605. Reserved seating is available for Milken Institute Associates. If you are not currently a member of the Associates and would like to join or receive more information, click here. Parking is not available at the Institute. Two-hour free parking is available in Public Parking Lot No. 1 on Fourth Street, immediately adjacent to our building. The Milken Institute is an independent, nonpartisan economic think tank whose mission is to improve the lives and economic conditions of diverse populations around the world. This Forum is part of our effort to present multiple perspectives on current business and public policy issues. Videotaping, recording or photographing this event is prohibited without the prior approval of the Milken Institute. Other upcoming Milken Institute events: 2010 State of the State Conference October 19, 2010 Milken Institute 1250 Fourth Street Santa Monica, CA 90401

Native Energy Webinar Series: The Projects Behind Carbon Offsets

The Projects Behind Carbon Offsets: Connecting your brand to the projects, people, and communities you support. Space is limited. Reserve your Webinar seat now at: https://www1.gotomeeting.com/register/149405753 The topic of carbon offsets can be complex. What is the value of an offset? How do you know what you are getting when you buy offsets? What makes one offset better than another? The answer to these and similar questions may lie in the connection your organization is able to build with the projects that are generating your offsets. Over the last year, NativeEnergy has gathered with Paul Comey from Green Mountain Coffee Roasters, Brian Allenby from Reverb and Dave Hamburg from Vital Choice in the small town of Greensburg, KS. We were there to witness the groundbreaking and dedication ceremonies of the Greensburg Wind Farm. Greensburg, largely destroyed by a massive tornado several years ago, is rebuilding as the greenest town in America. What does it mean for an organization to Help Build a new carbon-reduction project in a place like Greensburg? Join us as we explore the Projects Behind Carbon Offsets: Connecting your brand to the projects, people, and communities you support. Date: Thursday, June 17, 2010 Time: 1:00 PM - 2:00 PM EST After registering you will receive a confirmation email containing information about joining the Webinar. System Requirements: PC-based attendees Required: Windows 7, Vista, XP, 2003 Server or 2000 Macintosh-based attendees Required: Mac OS X 10.4.11 (Tiger) or newer. Register for our webinar today! About our guest speakers: Paul Comey is Vice President of Environmental Affairs for Green Mountain Coffee Roasters. His responsibilities include assuring the companys sites are in environmental compliance with all laws, reducing the environmental impact of the companys operations, and contributing to the management of the companys environmental, financial and social bottom lines. Paul has a vision of accelerating Green Mountain Coffees leadership in the environmental arena by using climate change as a competitive advantage. His work to map the companys environmental footprint has resulted in significant reductions in greenhouse gas emissions. He sees the companys commitment to GHG reduction and mitigation as essential to the companys core belief that business can be a change agent in the world. Register for our webinar today! Brian Allenby is the General Manager of Reverb. Brian is responsible for the day-to-day management of Reverbs operations, including tours, events and industry relations. Reverb is a non-profit environmental organization that educates and engages musicians and their fans to promote sustainability. Reverb has coordinated greening programs for the likes of Dave Matthews Band, John Mayer, Jack Johnson, Bonnie Raitt, Barenaked Ladies, Sheryl Crow, Guster and many more. Register for our webinar today! NativeEnergy, Inc. 30 Kimball Avenue, Suite 301 . South Burlington, VT 05403 800.924.6826

Instill better habits in your employees through creative negotiation

From Program on Negotiation and the Desk of Harvard Law School

Thursday, June 3, 2010

Should employers have the right to send obese employees to weight-loss centers? Should workers who smoke be required to enroll in programs to kick their habit?

Whether it's legal or not to compel your business associates to adopt healthier lifestyles, companies often face thorny issues when it comes to creating and executing certain policies.

How can you motivate your workers to make better choices without trampling on their individual rights? How can you control your costs and yet respect their choices at the same time?

In short, how can you negotiate a creative way that resolves this dilemma and restores harmony to your workplace?

The answer can be found by attending The Program on Negotiation for Senior Executives.

Run by experts in negotiation from Harvard, MIT and Tufts, a Program on Negotiation at Harvard Law School (PON) executive education seminar teaches you new techniques, new methods and new strategies from the top experts in the field of negotiation.

Drawing on the latest practice and research in this essential discipline, you'll hone your problem-solving abilities and save your company time, money and effort. You'll develop persuasive arguments for your positions and interests and communicate them more clearly.

Identifying situations within your company that can be improved through negotiating can help you become a more valuable decision maker and improve your business results, outcomes and profitability.

A PON executive education seminar teaches you principles for building more loyalty and consensus among your colleagues and fellow employees.

Best of all, you'll acquire a strategic set of marketable skills and tools that you can take with you wherever you go. That's a habit that pays dividends for years to come.

Recipients of the 2010 Minerva Awards®

WWW.WOMENSCONFERENCE.ORG The Home for Architects of Change The Women's Conference is proud to announce the recipients of the 2010 Minerva Awards®. Created in 2004 by First Lady of California, Maria Shriver, The Minerva Awards have become the country’s most prestigious awards given to women “who serve on the front-lines of humanity.” The 2010 Minerva Awards will be presented to the following five women: Carolyn Blashek – Founder of Operation Gratitude, the largest military support organization sending care packages to deployed soldiers in U.S. history; Oral Lee Brown – Founder of the Oral Lee Brown Foundation, which provides educational assistance and financial scholarships to school children, and which has sent almost 200 of Oakland’s most at risk youth to college; Sister Terry Dodge – Executive director of Crossroads, Inc., which provides transitional housing, education, career and counseling services and support to women released from prison; The Honorable Sandra Day O'Connor – First woman Associate Supreme Court Justice, and founder of Ourcourts.org, a web-based education program designed to teach students civics and inspire them to become active participants in our democracy; and Oprah Winfrey – Founder of the Oprah Angel Network, the Oprah Winfrey Leadership Academy for Girls in South Africa, and a source of education, inspiration and empowerment for women and girls throughout the world. “This year's Minerva Award honorees are women who live with a deep sense of purpose and who are passionately dedicated to serving others,” said Maria Shriver. “These Minervas all identified problems and unmet needs in their communities and have worked tirelessly to solve them. By honoring them, we hope to inspire others to be Architects of Change just like them.” Maria Shriver will present the honorees with their awards at a special ceremony at The Women’s Conference at the Long Beach Convention Center on Tuesday, October 26, 2010. A limited number of $50 tickets will go on sale on Wednesday, June 23. To read more about our 2010 Minerva Award winners, click here.

Know your rights!

May 27, 2010

Edited by: PON_Staff, filed in: Business Negotiations, Daily, Financial Negotiations, negotiation, personal negotiations

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Adapted from “Matching Rights: A Boon to Both Sides,” by Guhan Subramanian (professor, Harvard Business School and Harvard Law School), first published in the Negotiationnewsletter.

As dealmakers look for more sophisticated ways to reduce risks and increase returns, a matching right—a contractual guarantee that one side can match any offer that the other side later receives—has become a common and useful tool in negotiations.

As an example, imagine that a procurement officer reaches a five-year, fixed-price agreement with a longtime supplier but is concerned that market fluctuations might make the agreement less attractive to her company in the future. The officer proposes an exit for her company, with appropriate notice, if an alternative supplier can offer a better price. The supplier agrees but demands the right to match any competitor’s offer and keep the business. The parties reach agreement and sign the five-year deal.

As this story shows, matching rights (sometimes known as rights of first refusal or rights of first offer) can create enormous value. While the details vary depending on the negotiation, most matching rights share an underlying structure. Specifically, the grantor gives the right holder the right to buy an asset on the same terms that the grantor would receive from any other bona fide, prospective bidder, otherwise known as the third party.

See more at: http://www.pon.harvard.edu/daily/business-negotiations/know-your-rights/

When incentives strike out

May 27, 2010
Edited by: PON_Staff, filed in: Business Negotiations, Daily, Financial Negotiations, negotiation

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Adapted from “Managers: Think Twice before Setting Negotiation Goals,” first published in the Negotiation newsletter.

The next time you’re tempted to dangle performance incentives in front of your employees, think about whether it could backfire.

As an illustration, let’s look at Major League Baseball manager Joe Torre’s renegotiation with the New York Yankees in October 2007. Torre had led the Yankees to four World Series titles and to the playoffs in all of his 12 seasons, but his future with the club was uncertain following a string of disappointing postseasons. As he approached contract talks, Torre writes in his book with Tom Verducci, The Yankee Years (Doubleday, 2009), his primary goal was to secure a two-year deal that would eliminate the distraction of knowing he might possibly be fired after a year. His salary was virtually irrelevant, he claims ... See more at: http://www.pon.harvard.edu/daily/business-negotiations/when-incentives-strike-out/