Archive for Economy

Louis Chenevert Instilled Lasting Values at United Technologies

The legacy that Louis Chenevert left at United Technologies Corporation is unmatched in the business world. He laid a lasting foundation that has maintained the firm at the top to date and for years to come. His bachelor’s degree in production management earned from Université de Montréal, École des Hautes études commerciales (HEC) has played a major role in his successful career.

His Appointment

Louis Chenevert joined UTC in the early 90s, working for its business arm, Pratt & Whitney Canada. His impressive work led to his appointment to the post of the President responsible for the whole business division of Pratt & Whitney in 1999. Seven years later, he rose to the position of the CEO and President of United Technologies Corporation. Louis got down to work immediately after his appointment and went on to mark tremendous achievements.

His Drive

When taking up the top position at UTC, Louis Chenevert had the vision of leaving the place better than it was before his tenure. He knew he would achieve the dream by investing in technology and human resource. According to him, technology can take an organization far while the right human resource can take it further. UTC is known to empower its staffs through education under the Employee Scholar Program. More than a billion dollars has gone into catering for education fees of more than 40000 employees over the years. Louis always steered the company towards adopting modern technology that he believed could give the company a global competitive edge.

Remarkable Achievements

One of the most remarkable achievements of Louis Chenevert at UTC remains the successful negotiations and ultimate acquisition of Goodrich. In just a year as the head of the firm, he closed the $18.4 billion deal. His other notable attainment was winning a contract to supply the F-35 engine for US Air Force. Chenevert also played an active role in the development and marketing of Geared Turbofan (GTF) engine by Pratt & Whitney.

About Louis Chenevert

Prior to joining UTC, Louis Chenevert had worked at General Motors for over ten years. He was in charge of St. Therese operation as the Production General Manager. He resigned from UTC in 2014. Currently, he is engaged as the Exclusive Advisor at Goldman Sachs’ merchant banking branch.

Do Burning Books Reflect Economic Chills?

Troubled Economic Forecasts

Recently, an article entitled “It’s 2008 All Over Again: George Soros Warns China Will Spark Global Financial MELTDOWN” appeared on the online news website Express. The piece reported that billionaire financier George Soros has told an economic forum recently that the current global economic situation reminded him of the fiscal crisis which occurred during 2008.

His gloomy predictions about current market trends have fueled extensive coverage in some media publications. Possibly recent political events in Russia support the idea that a chill has descended across free market processes in some parts of Eastern Europe. The issue of whether artificial restrictions upon the free flow of ideas usually accompany economic downturns has fascinated historians for generations.

Political Pendulums

Of course, most Americans appreciate that the diplomacy between the United States and Russia has not always proceeded smoothly even during prosperous economic times. While the United States enjoyed a booming free market economy during the hip 1960s, Russia and many states in Eastern Europe struggled under oppressive Soviet Bloc monopolies. The USA and the U.S.S.R. narrowly avoided global conflict during the early years of that decade.

With the end of the Cold War during the early 1990s, most people hoped that relations between the the two superpowers would inspire international friendship. George Soros and others worked hard to persuade Russians to modernize economic and political institutions. Americans briefly began adopting Russian orphans in large numbers and welcoming Russian immigrants into U.S. society.

A Cold Front Strikes Eastern Europe

Recent events suggest that not everyone has forgotten lingering Cold War tensions. Billionaire George Soros has invested considerable time, money and energy attempting to promote the spread of democratic ideals in former totalitarian states through his charitable civic endeavors.

Yet after Russia’s post-Cold War political relations with the Obama Administration turned frosty in the wake of Russia’s seizure of the Crimea, officials in Moscow placed two branches of organizations associated with George Soros on a list of entities viewed as undesirable by the Russian government. This year an educational institution in Northern Russia reportedly permitted political activists to remove hundreds of books from college library shelves, some of them linked to the charities founded by the billionaire investment manager.

Accurate Predictions

Does the recent Russian censorship relate to a purely political chill? Or do overtones of economic gloom motivate these harsh measures? Answering this question holds importance for entrepreneurs.