secil_watson1by Tina Vasquez (Los Angeles)

 

Secil Watson, Senior Vice President of Customer Experience, Money Movement, and Mobile Banking with Wells Fargo’s Internet Services Group, may not have had a sense of herself after graduating from the Wharton School of the University of Pennsylvania, but that’s certainly not the case anymore for the thirty-seven-year-old mother of three. “I now know what I value in life and my priorities reflect that, but after graduating from college I didn’t know what kind of person I was; what my strengths and weaknesses were. I was just a sponge soaking everything up,” Watson said.

 

Admittedly, most college freshmen have a lot to fear. Many times they are far from home, in a new state, completely out of their element, and forced to somehow gracefully transition into a parentless world, where attending class is arguably optional, and their futures are in their own hands for the first time. For Watson, college was about all of those things and more. The native of Turkey had never stepped foot in the United States before when she was dropped off by taxi, in front of her dorm at Cornell University where she would complete her undergraduate degrees in international relations and economics. Watson, then only 18, had two suitcases in hand and not a clue as to how to navigate through this new country and its unfamiliar culture.

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Martin Mitchel of CTGContributed by Martin Mitchell of the Corporate Training Group

In case you were too busy to have kept up with all the news, contributor Martin Mitchell has gathered some important market events from last week to help you start this week well informed:  

Mergers and Acquisitions

  • Chrysler emerged from bankruptcy after a deal to sell most of its assets to Fiat, the US and Canadian governments and the United Auto Workers healthcare trust was approved by a US appeals court. The deal sees Fiat hold an initial 20% stake that can rise by another 15%. Fiat is barred from taking majority control until Chrysler has repaid all taxpayer-funded aid, which stands at $4bn. Fiat will hold three seats on Chrysler’s nine-member board.    
  • German carmaker Porsche is in advanced talks about selling a 25% stake to the Qatar Investment Authority. Porsche is struggling under debt of more than €9bn and is in merger talks with Volkswagen.
  • UK college and training company BPP has agreed a £303.5m offer from Apollo Global. The two companies announced they were in preliminary discussions in April. Apollo Global is 20% owned by private equity group Carlyle and 80% owned by Apollo Group, a listed US education provider that owns the University of Phoenix and is the world’s largest provider of MBAs. In particular, the BPP deal has been driven by rising student rates in professional and legal markets and the strong international reputation of UK degrees.
  • Talks commenced on two private equity deals in the UK. Charterhouse Capital is hoping to buy energy research and consultancy group Wood Mackenzie for around £550m. Wood Mackenzie is currently owned by Candover, and the plan will be financed with 50% debt and 50% equity, with incumbent banks led by Lloyds Banking Group remaining involved.
  • Lloyds Banking Group is also talking to the management team of the asset management arm it acquired when taking over HBOS last year. The managers of Insight Investment Management are hoping to use private equity backing to buy-out the third party business amounting to £74bn of funds under management. The in house business will remain within Lloyds banking Group and merged into Scottish Widows Investment Partnership.
  • Baxi, the UK boilermaker owned by private equity firms BC Partners and Electra Partners, is close to agreeing a merger. The merger partner is set to be a smaller Dutch rival De Dietrich Remeha Group. The merger rationale is thought to be partly based on solving Baxi’s debt problems, with some £445m of debt to be repaid between now and 2014.
  • India-based mining group Vedanta Resources is paying $368m in cash to buy rival iron ore producer VS Dempo. VS Dempo controls reserves of 70m tonnes of iron ore in Goa.

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barbara-thompson1by Tina Vasquez (Los Angeles)

 

A woman gets thrown over a balcony by her abusive boyfriend. The fall breaks her back, leaving her disabled. A young Marine, while home on leave, gets hit by a drunk driver, rendering him paraplegic. A baby is born in Russia and spends part of her childhood in an orphanage before being adopted by an American couple. Both her feet and hands never fully formed in the womb, giving her a unique disability and appearance. What do these people have in common? All of them have found refuge in an organization that gives them the training, equipment, and knowledge necessary to become certified adaptive scuba divers.

 

The saying, “the perfect storm” refers to the simultaneous occurrence of weather events that, if taken individually, would be far less powerful than the storm resulting of their chance combination. According to Sophie Wimberley, a regional medical science liaison for a large company and advanced open water instructor, the Dive Pirates organization she co-founded with her long-time friend and dive instructor Barbara Thompson, the general manager of a project management consulting firm in the subsea oil & gas industry,

came together for many different reasons, but none in particular.

 

Consider it a perfect storm of their own making. “To this day I still can’t say why it was so important to me to start this organization. One thing led to another and it just seemed like the right thing to do. We could do it, so we did it; we discovered a need and decided to fill it. There was no grand plan,” Thompson said. Both Wimberley and Thompson had been scuba diving for years and kicking around the idea of the Dive Pirates, which originally was going to be a social club. “Barbara used to joke that in order to gain admittance, prospective members would have to play a practical joke on somebody,” Wimberley said.

 

The specifics of how the Dive Pirates idea transformed from being a carefree social club to a life changing organization, differs slightly depending on who you’re asking. Thompson says the idea came from an acquaintance who worked at a V.A. hospital and suggested she begin teaching young veterans of the Iraq war how to scuba dive as a form of rehabilitation. According to Wimberley, however, the decision was less coincidental and more of an emotional realization she had while sitting alone in a Denver hotel room. “I’ll never forget it,” Wimberley said. “It was shortly after the Iraq war began and I was sitting in my hotel room watching a news program about the veterans coming back from the war; many soldiers were coming back missing limbs. I immediately called Barbara and told her we had to get involved somehow.”

 

It has been reported that the number of amputees returning home from the war in Iraq is the highest since the Civil War. Though 90 percent of the wounded survive their injuries, they are returning to civilian life with amputations, major head injuries, and post traumatic stress disorder.  Coincidentally, adaptive divers are usually those with spinal cord injuries, neurological disorders, or amputations. The certified open water divers and dive leaders who volunteer their time and services to the Dive Pirates organization do not teach “handicapped scuba.” Adaptive diving is just that because it adapts the same training received by able-bodied divers to a person’s disability. Adaptive divers are accompanied by a “buddy” of their choosing that goes through the training process with them. Escorted divers, on the other hand, suffer from severe immobility or blindness and must be accompanied by a four-person dive team that includes at least one diver with leadership training in life saving or dive instruction.

 

The Dive Pirates began in 2003 and now have chapters all over the country, but it wasn’t until 2005 when they became a certified charitable foundation for adaptive scuba that they began actively recruiting and focusing on those injured in Iraq. The first marine injured in Iraq has been diving with the Pirates since 2005. Other war heroes include twenty-nine-year-old Dawn Halfaker, a former Army first lieutenant who was one of the first women injured in the war. Halfaker lost her right arm at a mere twenty-four years-old when a rocket-propelled grenade was shot into her Humvee.

 

According to Wimberley, water is the great equalizer. It is the one thing capable of making a disabled person feel able-bodied, as they float along weightlessly and peacefully just as everyone else. “Our participants want to be included as part of a group. Adaptive divers want to be integrated and not excluded from society,” Wimberley said. “We’ve heard gut-wrenching stories from some of our divers about being treated like less-than a person when they return to civilian life. This organization isn’t about me, or Barbara, or the board of directors, it’s about the people we’re helping. Scuba diving isn’t going to take away their pain or erase what happened to them, but it’s a positive step in the right direction.”

 

Saying that the Dive Pirates are changing lives is not an overstatement. Many of the participants would have never gone scuba diving if it weren’t for the organization. Aside from the cost of the gear and training, the idea of then being able to travel to a tropical location such as the Cayman Brac would seem out of the question and impossible for a disabled veteran with a small income. The Dive Pirates make all of this possible. An adaptive diver and their buddy can offer up any amount of money they can afford for their scuba gear, whatever they can’t afford is paid for by the organization. Each participant is also guaranteed a fully paid trip to the Cayman Brac, where they will stay at a resort and scuba dive on a daily basis.

 

According to Thompson, one of the unexpected pleasures of starting the organization has been seeing people pushed out of their comfort zones in a way that will ultimately benefit them. Learning to participate in such an unfamiliar activity and traveling to a faraway, exotic location can seem overwhelming for a disabled person who may have lost some of their self-confidence as a result of their injury, but the act of participating alone is life changing. “People who participate don’t have to say thank you,” Thompson said. “We can see we’ve made a big difference once they come out of the water for the first time. Just imagine spending a majority of your time in a wheelchair; being weightless in water would feel like freedom.”

 

Wimberley’s goal for the Pirates, aside from receiving an endowment to maintain the organization long-term, is to provide each and every adaptive diver with an exceptional experience- which is why they are taken to dive in the Caribbean Sea, as opposed to diving locally. Exceptional experiences, especially those inclusive of taking a large group of adaptive divers to an island paradise for some leisurely scuba diving, are not cheap. The training, gear, and trip cost about $4,000 for each adaptive diver and their buddy. Fortunately, donations, membership fees paid by able-bodied participants, and fundraisers such as their Music for Soldiers event, their golf tournament, and annual black tie ball in Houston, TX bring in the money the organization needs to stay afloat. “The process of becoming a charity isn’t easy, but thankfully we’ve encountered many patriotic Americans who want to support those who’ve served their country and have come home injured,” Thompson said.

 

Scuba diving isn’t just a novelty that a handful of fortunate, able-bodied souls get to experience while on an island getaway. Sophie and Barbara want Dive Pirates participants to become life-long divers with their buddies, as it provides them with an almost-magical way to interact. “They’re diving in silence and the only way to communicate is through sight and touch,” Wimberley said. “Scuba diving allows them to explore the world around them. It feels like peace on earth and they can be a part of it for a little while.”

womanladder.JPGby Tina Vasquez (Los Angeles)

WOMEN Unlimited is based on my experience of doing everything wrong for the first half of my career. I often think back and agonize over it, wondering how I could have been so stupid. When I became an executive, I noticed many women around me who were smarter, but had not achieved the same level of success. That’s when it all started coming together. I realized that they weren’t doing what they were supposed to. Business is a game and they didn’t know the rules; they were taking things too personally.”

So said Jean Otte, the founder of the organization. Named one of the first female executives in her industry at the age of forty-seven, the achievement was bittersweet because, while she was happy to have had the success, she was unable to find other upper-level women with whom to communicate and network.   And thus sparked the creation of WOMEN Unlimited, an organization which provides development opportunities for high potential women who have been selected by the organization’s corporate partners.

WOMEN Unlimited has three levels of programs that they offer their participants. TEAM was specifically designed for women who are new to or just entering management positions, LEAD is for mid-level managers with seven or more years management experience, and FEW (Forums for Executive Women) is for senior level executive women. Each program is limited to twenty participants and features 360° assessments, individual/peer coaching, and panel discussions. Dawn Farris, Manager of Customer/Inventory Services for Bridgestone North America, is so enthusiastic about what she’s learned in the LEAD program that she’s planning on creating a website detailing how it’s changed her career. “My idea stemmed from a statement I read in the program: If I had a mentor or had known to ask for one many years ago- where might I be today? I have no regrets about what could have been,” Farris said. “But I am certain that the information I share with others will help those interested in growing personally and professionally.”

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by Pamela Weinsaft (New York City)

What do you get when you sit down with five exceptionally accomplished professional women and ask them about their real life leadership strategies? You get a wide range of powerful and pithy advice on everything from the positive effects of the current economic crisis to their own strategies for goal setting.  The women who made up the afternoon panel at the recent Corporate Best Practices summit hosted by Forté Foundation shared their varied approaches to personal and professional success, united by one common belief: that the current economic crisis has created an abundance of opportunities for women.

“I am a strong believer that in times of crisis and chaos good change will come…Keep yourself pointed toward the future.” said attorney Vivian Polak, co-head of Dewey & LeBoeuf’s Information Technology and Intellectual Property Practice Group and chair of their global diversity initiative.  Carolyn Buck-Luce, Ernst & Young’s Global Pharma Sector Leader, agreed, adding, “This is creating an opportunity to rethink ‘what are the rewards?’ It is no longer just about money; [it’s] about what motivates women.”

Carla Harris, Managing Director in Global Capital Markets at Morgan Stanley took it a step further, advising those in attendance to seize the personal opportunities that arise as well. “I’m looking for ways to expand my personal market share while everybody else is distracted.” She advised, “Think how to leverage your voice and make sure management hears that you understand the challenges and have ideas to cut costs, get customers, etc. Present yourself as part of the solution. Do not operate out of a position of fear.”

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Contributed by Marsha Egan, CEO of The Egan Group, Inc

Struggling with people resisting making the changes you know you need to make in your organization or group? Don’t know how to get buy-in from people so that you can change things for the better? Challenged by an undercurrent of resistance to your attempts to move your organization forward?

Have you ever tried to change anyone? Everyone knows how difficult it is to change their spouses (ever TRIED it? Not a pretty sight!)  Even more, have you ever tried to change something about yourself?  Not an easy task, is it?! Just think of those failed New Years’ Resolutions…  It takes a lot of effort and concentration to change—even small things.

So, why would it be any easier to change things in a business or community organization?

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jobsearchContributed by Caroline Ceniza-Levine of SixFigureStart

If I am really interested in working for a company, is it a good tactic to offer to do a project or a trial basis for free?

I have been seeing more press coverage about “adult internships” lately. These refer to experienced professionals who take on a short-term project for little or no pay. Sometimes, these adult internships are for career changers to break into a new target sector, but sometimes experienced, unemployed professionals use internships to get a foot in the door at a new company in their same sector.

I’ve read about adult internships but I haven’t seen widespread practice of them, so I suspect (but don’t have data to prove) that they are not as prevalent as the press coverage warrants. So I don’t recommend targeting these adult internships or offering free work to employers, whether projects or days on the job. However, savvy, proactive jobseekers absolutely work for free, just not for specific employers.

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istock_000009353072xsmall1by Liz O’Donnell (Boston)

While health officials scramble to control an influx of questions, guidelines and cases related to swine flu, or the H1N1 virus, another demographic is impacted–working parents. Schools have been closing all over the country. In Boston, at least six schools closed. In New York City, 16 schools closed. Entire districts have been shut down in Texas. Even in areas where the schools have remained open, students showing any flu-like symptoms have been asked to stay home for seven days. How do working parents, and especially professional women, manage their careers and their family-life under extenuating circumstances such as these?

Katherine Chalmers, a software marketing manager, is also the mother of two toddlers. Chalmers and her attorney husband have what they describe as a “carefully choreographed schedule that goes completely to hell when one of the kids gets sick.”

When that does happen, Chalmers and her husband choose from a number of options. Sometimes, one of them chooses to work from home. But Chalmers is quick to point out that this can be difficult with little children underfoot. Chalmers’ children are 14 months and 2 years old. “Working at home is very difficult,” she says. “They are not at an age they can play by themselves.”

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African-American Woman with computerby Pamela Weinsaft (New York City) 

 

Last week, the Anita Borg Institute for Women and Technology released an eye-opening report. Entitled  “Obstacles and Solutions for Underrepresented Minorities (URM) in Technology”, the report examines why women—and men— from underrepresented minority (URM) backgrounds, namely African-American/Black; Hispanic/Latino, Native American, or Native Hawaiian/Pacific Islander, are generally in few in number in computer science and engineering fields.

 

Dr. Caroline Simard, Ph.D., Director of Research and Executive Programs at the Anita Borg Institute spoke with The Glass Hammer about her findings. 

 

The report states that [URM] represent 27% of the US population, hold 46 18% of Bachelor’s degrees in computer science, and 12% of engineering degrees,” but are only 6.8% of technical employees. Also, “since 1995, the representation of African-American and Hispanic/Latina women among computer science degree recipients has remained flat—Hispanic women earn less than 2% of computer science bachelor’s degrees. Despite the growth of the Hispanic population in the US, only 0.03% of all female Hispanic freshmen planned to major in computer science in 2006, the lowest of all Science and Engineering disciplines.”

 

Native American women are lagging as well: they represent less than 1% of computer science degrees. And, according to the report, “African-American women represent 4.8% of the graduate enrollment in computer science, yet they represent 7% of the US population.”

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pimco_liz_philipp1by Pamela Weinsaft (New York City)

Elizabeth Philipp, Head of PIMCO‘s New York office, has always loved numbers. “I know that sounds just so trite and generic,” she said, “but I loved math in high school. I excelled at it. I always liked the organization of numbers.”

That said, she went off to college at the University of Iowa with the intention of becoming either a pediatrician or a physical therapist. After taking a finance course in her second year at university, however, she quickly migrated back to math, and ultimately finance. “When I took my first finance course I just felt it was natural. I also felt that there was something about it that created a lot of independence. I just always felt that I could be very much in charge of my career destination if I chose finance and business. It is also very entrepreneurial.”

She added, “I didn’t know exactly what area of finance I would go into but I liked that there were many different avenues to pursue. That was the key. Whether it was running a company or doing more of the controller function or sales and trading, I thought it would be fascinating and evolutionary.”

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