Brazil will struggle economically for the best part of 2016, according to the Brazilian government, and many economists around the world. The recession has deep roots, and financial experts like Bank President Ricardo Guimarães think that several things have to happen before Brazil is financially healthy again. Guimarães thinks the country must get rid of the unnecessary tax code that makes businesses spend more than 2,600 hours a year to pay what the government says they owe. Guimarães doesn’t think the Rousseff administration will be around long enough to make that happen in 2016, but he believes the Summer Olympics might give the country the boost it needs to get back on track economically speaking.
The Summer Olympics will pour billions of dollars into the Brazilian economy, and Mr. Guimarães thinks that money could be the catalyst for a rebound. Guimarães knows a lot about sports. His BMG Bank sponsors tennis, soccer and volleyball athletes and teams. According to an R7.com article, Guimarães is the godfather of Brazilian soccer.
BMG Bank under Ricardo’s leadership has invested millions in soccer, and that investment has made the bank popular with soccer players and the fans. The BMG Bank logo is visible on game days throughout the country, and Guimarães couldn’t be happier. Bank profits have more than doubled the last two years in spite of the recession.
Ricardo Guimarães believes that the Summer Olympics will have a positive impact on Rio de Janeiro’s economy as well as its infrastructure. Rio may be not be fully prepared for the games, but Guimarães thinks the city will make money for the country during the event. The committee in charge of making the Olympic Games successful has enough entrepreneurs in place to make a difference, but some Brazilians are concerned because some of those entrepreneurs are not proactive enough to efficiently get the job done.
An article about Brazilian entrepreneurs was recently posted by R7.com. Ricardo Guimarães thoughts were part of that article. Brazilian entrepreneurs do lack the ability to be assertive in certain situations according to a survey done by Endeavor, a Brazilian firm, and Meta, a British research firm. The study discovered four distinct types of entrepreneurs and not all of them have the desire to be proactive in certain situations. Guimarães said that cleaning up Rio’s favelas is a good example of that lack of proactivity.
But in spite of the challenges, Ricardo Guimarães, the sports aficionado, and financial expert expects the Summer Olympics to be a success and a money maker for Brazil. Most of 2016 will be behind Brazil in August, but the money that the games generate could be the foundation a fourth quarter turn around, according to Guimarães.
I was browsing the Washington Business Journalwhen I happened across an interesting article about the Kennedy Center. A few years back the Kennedy Center set out to raise enough money through donations to make some major renovations. The Center passed its goal, but the donors were so generous that there was enough donated beyond the initial goal that the center decided to push on and raise enough to add some really nice features to the complex.
Many of the donors made donations of one million and much more, and it only goes to show the love people have for the arts and their surrounding communities. The campaign which was initially set to raise $125 million raised over $139 million to cover the rising costs of the expenses. The entire project that is going to feature a footbridge, a river walk, pavilions and dining areas will bring new life to the center.
Among those making the large donations were David Rubenstein and Dick DeVos. Rubenstein is the co-founder of the center, and he made a donation of $50,000,000 for the center’s restructure. I was curious about the donors, and looked them up on the internet.DeVos is the Michigan born son of the Amway founder. He is well known for his philanthropy as he shares the wealth he and his family have been fortunate enough to enjoy. His support at the Kennedy Center was in the amount of one million dollars.
I found his philanthropy is boundless, and goes far beyond just his support of the arts and the Kennedy Center. He and his wife Betsy created a foundation to manage their gifts and charities called the Dick and Betsy DeVos Foundation. It’s located in Grand Rapids, and the list of the groups and causes it supports is almost endless. The foundation donates heavily to education for children that range from scholarships at Princeton University to very large donations for Choices for Children.
DeVos has established scholarships with the foundation he and his wife created. This scholarship fund not only supports American students, but also reaches out to students in developing countries. Mr. DeVos has a love of flying, and he opened the first public aviation high school in the world. It’s located at the Gerald Ford Airport and aviators from all over the country donate their time for the students. Check out the video below of Dick demonstrating a helicopter landing for students and members of his community of Grand Rapids.
Mr. DeVos other philanthropic passions include the environment, the arts and free market economics. He supports the Action Institute and the Heritage Foundation with donations and scholarship funding. He is also an avid supporter of the Dutch-American community and he even speaks internationally on occasion.
Learn more about the life and works of Dick DeVos by reading his bestselling book or by visiting his Wikipedia page below.
Recently, the venture-capital industry has begun giving money to Europe. Start up companies in places such as London and Paris are usually much cheaper than local companies, so large companies such as Microsoft can gain access to strong talent and innovative ideas for better deals than at home. Additionally, venture capital is relatively scarce in Europe, so startups are vying for US dollars to help them expand globally.
There is a lot of innovation coming out of Europe that used to be satisfied working locally, but are now gaining traction and ready to grow. The European startup scene, however, is still suffering due to market volatility.
Recently, job cuts at large firms have brought employees from banks and consulting firms into the industry of technology. Many new firms are hungry for capital. As a result of the supply and demand of help, U.S. companies see European startups as being very affordable.
Berlin has been particularly popular for US investments and venture funding. In comparison to London companies, Berlin startups attracted .3 billion more euros than London companies.
Highland Capital partners with the most compelling start up companies who are developing innovative technologies to emerge into the massive markets. They are early investors who surround entrepreneurs from the beginning with both expertise and strategic guidance that is necessary to create the next generation of companies that are out to define categories.
Funds that Jim has managed have received many accolades and awards during his long and successful career. This includes Morningstar’s designation of 5-stars for Global Allocation, as well as their #1 ranked equity fund in 2014. Additionally, Jim received the Lipper Award for his accomplishments with Floating Rate Opportunities in 2014.