HINDSIGHT - WRITE SOMETHING WORTH READING ABOUT OR DO SOMETHING WORTH WRITING ABOUT
Friday, July 20, 2018
Thursday, July 19, 2018
Overseas firms bringing up to 300 jobs to Chicago
Overseas firms bringing up to 300
jobs to Chicago
GREG HINZ ON
POLITICS
Photo by Wikimedia Commons
Mayor
Rahm Emanuel is highlighting a trio of economic announcements today that
collectively involve up to 300 jobs now, and potentially more later.
Rio
Tinto Group, a London-based mining and metals company, is opening a sales and
marketing office downtown that will employ about 70 people by the end of the
year. A company spokesman said the firm has leased 18,000 square feet—half a
floor—in the Aon Center, and all of the jobs will be either newly created or
transferred from other parts of the country.
The
office will put the company in closer contact with existing and future
customers, and gives Rio Tinto "access to the U.S. talent pool,"
Chief Commercial Officer Simon Trott said in a statement. Most of the company's
current 3,000 U.S. employees now work in western states.
A
bigger group of workers is involved in a decision by DMG Mori, a German
machine-tool company, to move its North American headquarters from Hoffman
Estates to a location on or near the campus of the Illinois Institute of
Technology in the Bronzeville neighborhood.
An
exact location has not been determined, but the shift will provide an
"opportunity for us to interact on a daily basis with the faculty and
students of IIT," DMG Mori USA President James Nudo said in a statement.
Nudo called that "unique in our industry." Said IIT President Alan
Cramb, "IIT is a university where students learn by creating, building and
solving, and we couldn't think of a better educational opportunity for our
students to work with and learn from a company like DMG Mori."
The
city says many, though not necessarily all, of the firm's roughly 225 workers
in Hoffman Estates will be relocated to the IIT-area office.
No
city incentives were involved in the Rio Tinto and DMG Mori moves, according to
City Hall.
Emanuel
also announced in a midday speech that Chicago leads the U.S. in foreign direct
investment for the sixth year in a row in an IBM Global Locations Trends
report. (You can read the full report below.) The city also moved up a notch to
fifth place globally, trailing only London, Paris, Singapore and
Amsterdam-Rotterdam in total projects, Emanuel said.
The
city already is home to 1,800 foreign-based companies that collectively have
invested more than $100 billion here, said Emanuel, who at the beginning of the
week returned from a trade mission to China and Japan.
MAYOR EMANUEL AND DMG MORI ANNOUNCE COMPANY IS RELOCATING CORPORATE HEADQUARTERS TO CHICAGO
MAYOR EMANUEL AND DMG MORI
ANNOUNCE COMPANY IS RELOCATING CORPORATE HEADQUARTERS TO CHICAGO
Innovative Tech Manufacturer to Locate North American Headquarters Near Illinois Institute of Technology on Chicago's South Side; Move Follows Mayor's Economic Mission to Japan and China
Mayor Rahm Emanuel today joined DMG MORI to announce the company is relocating its North American headquarters to Chicago. The move follows a meeting between the company and Mayor Emanuel during a recent trade mission to Japan. The company is working with Illinois Institute of Technology to identify space on and near the school's campus for the company to move into and build a product showroom.
"Manufacturing is written in Chicago's DNA and today the sector is running on all cylinders," Mayor Emanuel said. "Thanks to world-class institutions like Illinois Tech and global companies like DMG MORI we are creating jobs today while ensuring the future of manufacturing in Chicago is even stronger than its past."
The move is driven by the DMG Mori's desire to interact with faculty and recruit talent from IIT. The company is currently headquartered in Hoffman Estates and has approximately 225 employees at that location and more than 1,000 in the US, Mexico and Canada.
"DMG MORI is a world leader in manufacturing technology," said DMG MORI USA President James Nudo. "The opportunity for us to interact on a daily basis with the faculty and students of Illinois Institute of Technology is unique to our industry. Locating our North American Headquarters in the world class city of Chicago gives us an unlimited potential going forward."
Since its foundation in 1948, DMG MORI CO., LTD. has continuously provided innovative machine tools for customers all over the world. The company deeply appreciates its customers' long-term patronage and support. The company reached a capital and business partnership agreement with German machine tool builder DMG MORI AG in 2009 and completed management integration with them in 2016. Together the companies have a total of approximately 12,000 employees with diverse backgrounds, all heading to the same direction with the aim of being the No. 1 machine tool manufacturer for customers and total solution provider. DMG MORI appreciates all of the people in the manufacturing industry and continuously exerts full efforts for further business growth as a group of reliable professionals.
"Illinois Tech is honored to partner with DMG MORI as it brings its legacy of innovation to the city of Chicago," Illinois Tech President Alan Cramb said. "As Chicago's premier tech-focused university, we have a long history of contributing to the economic vitality of this great city. And I know that our talented students and faculty will be an extraordinary resource for the company. Illinois Tech is a university where students learn by creating, building and solving, and we couldn't think of a better educational opportunity than for our students to work with - and learn from- a company like DMG MORI."
IIT is a private, independent research university that is technology-focused, innovation-centered, and idea-driven. It offers undergraduate and graduate degrees in engineering, science, architecture, business, design, human sciences, applied technology, and law. One of 21 institutions that comprise the Association of Independent Technological Universities, Illinois Tech offers exceptional preparation for professions that require technological sophistication, an innovative mindset, and an entrepreneurial spirit.
In the last three years alone, Illinois Tech has produced more than 3,300 computer sciences, electrical and computer engineering, information technology, business, design and food science graduates. Illinois Tech is second in the nation in overall economic mobility of its students among highly selective private universities.
Alan W. Cramb
President, Illinois Institute of Technology
Japanese manufacturer DMG Mori is moving its North American headquarters to Chicago to be closer to Illinois Tech
Japanese manufacturer DMG Mori is moving its North
American headquarters to Chicago to be closer to Illinois Tech
Japanese manufacturer DMG Mori plans to move
its North American headquarters to Chicago from Hoffman Estates. Here,
carpenters set up DMG Mori's booth at the International Manufacturing
Technology Show at McCormick Place in 2010. (Chris Walker / Chicago Tribune)
Japanese
manufacturer DMG Mori plans to move its North American headquarters to Chicago
from Hoffman Estates to
be closer to staff and students of Bronzeville’s Illinois Institute of
Technology.
DMG Mori has approximately 225 employees at
its headquarters in Hoffman Estates. The company, which makes machine tools for
the auto, aerospace and other industries, said it is working with the Illinois
Institute of Technology to find space on and near campus to move into. It also
plans to build a product showroom on its new site. An exact location hasn’t yet
been determined, IIT Communications Director Janille Miller said.
The company, in conjunction with Mayor Rahm Emanuel’s
office, announced the move on Thursday. Emanuel met with the company when he
was in Japan earlier this month.
“The opportunity for us to interact on a daily
basis with the faculty and students of Illinois Institute of Technology is
unique to our industry,” DMG Mori USA President James Nudo said in a statement.
“Locating our North American headquarters in the world class city of Chicago
gives us an unlimited potential going forward.”
Monday, July 16, 2018
WDIS: Where Do I Start? Tom Sosnoff and Kaplan Institute ED Howard Tullman
Tom and Howard review their portfolio and discuss how the short premium positions they put on have reduced the volatility of the P/L of the portfolio. Today they look to close out winning positions and manage a couple positions that haven't gone their way. They closed out Covered Call positions in CRM, DIS, ORCL, and SPOT for near max profit. In AMZN and GOOGL, they closed out condors for near max profit. They then managed a couple of the losing position, rolling up a naked put in MSFT against an ITM short call, and rolled up naked puts in FB that were sold against short stock.
TULLMAN'S TAKEAWAYS
Tuesday, July 03, 2018
NEW INC MAGAZINE BLOG POST BY KAPLAN INSTITUTE EXEC DIRECTOR HOWARD TULLMAN
Get to the
Point, Will Ya?
Waste
of any kind really irritates me. So, if you've got good news to share about
your startup, don't take the scenic route to tell me about it. And make sure
you answer these three fundamental questions.
By Howard
Tullman Executive director, Ed Kaplan Family Institute for Innovation
and Tech Entrepreneurship, Illinois Institute of Technology @tullman
I got a note recently
from a colleague who had written a short email commenting on my last INC.
column. He shared a simple phrase that his father often used ("Take
responsibility and do the right thing.") to describe a situation
similar to the one I had written about. When I didn't promptly respond to
his missive, he followed up with another note, saying that he hoped that his
brief note and comments hadn't offended me.
I was reminded of the
17th century French mathematician Blaise
Pascal's phrase: "I only made this letter longer because I didn't have the
leisure to make it shorter." Or, in today's parlance, "If I had more
time, I'd be briefer." I wrote my colleague that I actually appreciated
his taking the time to react to what I had written. And I assured him that -
with my exceedingly thick skin - well-meaning criticism doesn't offend me. The
only thing that really offends me is waste.
Wastes of words, time,
resources, opportunities, and especially wastes of breath-- like apologies
without coincident changes in behavior-- or basically anyone wasting their time
and mine in trying to make cheap excuses. Explanations and investigations are
fine, but make no mistake, there's no such thing as a good excuse. You learn
early on in the startup world that you can have results, or you can have
excuses, but rarely both.
Honestly, I never mind
anyone who does me the favor of getting right to the point and telling it like
it is. In a world of blowhards and BSers, this is a joy and a relief. Frankly,
what you can't say in 10 minutes about your business, your problem, or your
idea probably isn't worth saying. We're all time-starved and in a hurry, so
feel free to make it short and sweet.
Sometimes the hardest
thing to do is to tell a simple story. If it's a pitch, make sure I can tell
right away whether what you're saying makes sense, whether it's a real business
or opportunity, where the warts and the pitfalls are likely to be, and whether
you're the right one with the requisite passion, persistence and smarts to make
it happen.
If there's a problem,
it's a slightly different challenge. In the pursuit of pithiness, you
still need to make sure that you tell me the whole tale and the whole truth. And, if
you're bringing me bad news, make it the headline so we can get right into it;
there's always plenty of time down the line to pat yourself on the back. But assuming that
you've got good news to share, don't hide your light under a bushel basket--
especially if you're looking for money. Do everything you can to make it
easy to say "yes." Too many new entrepreneurs make it easy to turn
them down because they're so unprepared to take their best shot in the moment
when the opportunity is there and because they don't really understand how to
make the most of that short window of time.
As we used to say when
I was in the music industry, it's really easy to tell when a song is bad, but
only the public will ultimately decide what sells. Note that I said "what
sells," not necessarily what's good. The music business today is all about
making money, not making great music. Always has been; always will be.
And it's the same
situation when you're describing a new business. If you're all over the place;
if you're trying to be all things to too many people; if your story is so
complicated that it's hard to even follow; or if you've got a solution in
search of a problem, it's going to be pretty easy to say "thanks, but no
thanks." You've got one shot, one moment, and one opportunity to get right
to the heart of the matter and the most crucial part of the entire process is
simplifying the story.
How simple? Your story
should answer three basic questions about your company which, by the way, are
the very same questions that will inform and guide your company for its entire
existence. These answers are also every bit as significant for each and every
employee as they are for any investors.
So, it's pretty
important to get the answers right at the outset. The answers might change over
time, but the fundamental questions never do. Here they are:
Who are We?
Management and team
members' relevant experience and credentials
Where are We Going?
Short and long-term
objectives and goals--abbreviated milestones-- and a realistic
timeframe.
Why?
What problem is being
addressed and solved-- time, money, productivity, status.
Short, sweet and to
the point. You've got to be a ruthless editor and there's no question that the
toughest choices are about what to leave out, not what to include. You need to
think of detail and elaboration as forms of pollution. Cut to the quick. And
stick to your story.
Tell the
story you need to tell, be relentless, stay on point, keep it
short, and make the limited time that you have count. Everything else can come
later.
Bottom line: don't waste my time or yours-- tell a simple story.
Sunday, July 01, 2018
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