JPMorgan Shareholders Disappoint Dimon Critics

A lot of people hoped Jamie Dimon, the chairman and CEO of JPMorgan Chase, would lose one or both of those titles. Most of those people, however, were not JPMorgan shareholders.

Those shareholders overwhelmingly voted to keep Dimon's dual roles united in his hands, rather than to split them. Dimon had previously suggested he might resign entirely if the measure to split his duties passed. Only 32 percent of shareholders voted for the split, down from 40 percent a year ago. (1)

Dimon's win prompted a chorus of responses from those who disapprove, which ranged from the incredulous to the angry. Richard Eskow blogged at the Huffington Post: "What's Wrong With Jamie Dimon is What's Wrong With America." Steve Denning at Forbes asked, "Jamie Dimon: Dr Jekyll Or Mr Hyde?" The Daily Beast's Daniel Gross wrote a column that carried the succinct, if glib, headline, "Jamie Dimon to Shareholders: Suck It."

Yet the majority of JPMorgan shareholders evidently don't feel that Dimon has let them down. So Dimon's detractors are furious at the company's owners for keeping him in charge. The nerve of those shareholders, acting like they own the place!

Those shareholders know how to express displeasure with JPMorgan's governance when they feel it. At the same meeting, three members of the board's risk committee received less than 60 percent support, prompting the board's presiding director, Lee Raymond, to tell shareholders to "stay tuned" for future changes in the committee's composition. (1)

So the shareholders want, and will probably will get change - but they don't want to change Dimon's responsibilities. This is probably because over the past five years - which is to say, since the early days of the financial crisis - JPMorgan stock has appreciated more than 20 percent. Wells Fargo, up more than 40 percent, has done better, but Wells Fargo has only a minor presence outside the U.S. A more accurate comparison would be against Citibank, which has fallen around 80 percent, or Germany's Deutsche Bank, down nearly 60 percent.

The $6-billion "London Whale" loss last year was an embarrassment for Dimon and JPMorgan. But good businesspeople keep individual events in their greater context. In this instance, the context is that, despite the loss, JPMorgan continues to post solid profits in a challenging regulatory environment. According to Bloomberg, the bank has posted record results for three straight years. (1) And at the same annual meeting where shareholders voted not to split Dimon's duties, JPMorgan announced that its second-quarter dividend will be 27 percent higher than that of the previous quarter. (2)

Dimon deserves to be held accountable for JPMorgan's failures, but he also deserves credit for its successes.

JPMorgan is not a paragon of excellent corporate governance, nor is it an example of outstanding citizenship for a financial institution. On the other hand, it is not an egregious outlier, either. If Dimon has managed, in a terrible environment for global banks, to run a global bank that performs more or less like a large national bank, it demonstrates the kind of talent you want at the head of a big company.

Which is exactly why his shareholders kept him there.

Sources:

1) Bloomberg, "Victory for Dimon as JPMorgan Shareholders Reject CEO-Chairman Split"

2) The Motley Fool, "JPMorgan Chase Chase Raises Dividend 27%"

Seven Exciting Wrought Iron Home Decor Ideas

So, you are planning to decorate your home but not sure where and how to get started? Well, don't worry, this is a common problem experienced by most home owners. While choosing the right decor items is subject to individual choices and requirements, there are still certain home decor ideas that work pretty much with everyone. The following is list of 7 such ideas that can change the overall look and vibe of your home overnight without requiring you to spend hefty sums.

1. A wall featuring quality artwork not only can enhance the beauty of your home, but it also reflects your artistic sensibilities in the most glorious way possible. There are a plethora of options at your disposal when it comes to decorating your home walls with wrought iron - for example, metal wall art, mirrors, clocks and what not!

2. Add a wrought iron table top candle to your living or dining room. They are available in a range of different sizes, styles and shapes - making it possible for you to incorporate them regardless of how much free space you have in your home

3. Tastefully chosen lamps and wall candles made out of such material help transcend the charm of your living room beyond words can explain. They bring your home a distinctive rustic and chic look. Better still, these items are available in various styles, thereby making it possible for you to incorporate them regardless of what kind of interior design you may prefer.

4. If you have curtains, then consider embellishing it with handcrated iron curtain rods and curtain supports.

5. A charming wrought iron staircase also makes a splendid gateway to the upper levels of a home.

6. Iron tables and other furniture make excellent choices when it comes to adding a rustic look to your living and dining rooms. They are easily available in your average home decor shops, and better still - you will have plenty of options including coffee tables, sofa tables, side tables, dining room tables and hall tables!

7. Do you own a lawn or a garden? If so, why leave it behind while you redecorate the rest of your home with these products? A simple search on the Web will give you access to a number of sites that deal in high quality wrought iron lawn ornaments, including plant hangers, rustic art, marble stakes and what not!

How to Start Your Own Restaurant Business

The restaurant business is considered as one of the most competitive industries in the world. There will be a large number of eating places in any populated area which caters to different individual needs. While some offer fast food, others might be devoted to more health conscious people. There could even be specialized eateries which provide various varieties of only one dish like soups or salads. In order to start a new restaurant of your own, you will need to have plenty of commitment, attention to detail and planning to ensure that it is a success.

Form a clear outline of your restaurant's menu before starting. Determine the growth areas of the industry and your target customer base. Identify the ways in which you will meet the needs of the market by, say, offering free deliveries or special cuisines. Do a thorough analysis of all the competing eateries in the area and figure out ways in which you can improve upon their offerings. Ascertaining various business strategies will help you implement and maintain a competitive edge over others.

Using all the information you have gathered during your research, develop a detailed business plan. Use it to organize and develop milestones you would need to meet for the growth of the business. Use the business plan to develop a budget to determine all the startup costs as well as funding needs. Establish the company structure of your restaurant and register with all relevant state authorities.

Depending on your requirements, choose an appropriate location and lease, build or purchase a building. Make sure that the kitchen area is large enough to accommodate all the staff, equipment, freezers, etc. The seating area should also be large enough to accommodate all the guests you have in mind and the required design elements. Apply for all the necessary licenses and permits and be prepared for a visit from city officials who will want to inspect the facility to ensure that it meets all safety codes.

Lease or purchase all the equipment, furniture, etc. that you require and ensure that it is safely installed. Ensure that all your equipment have proper guarantees to protect it from future damages. Remember to secure a strong insurance policy which protects all the aspects of your business, including you and your staff, from any liabilities.

After you have secured all the necessary paperwork, start hiring the necessary members of your staff. Do this as early as possible to ensure the quality of employees. Make sure that the people you hire have good records and are experienced in the hospitality industry. Provide them with aprons or uniforms and ensure that they look clean and tidy. Make sure that they are aware of the restaurant's procedures and policies.

After you have set up your restaurant, promote it as aggressively as you can. Advertise in your local newspaper, radio station, etc. Provide samples from your menu to potential customers to lure them in. Also ensure that you maintain all the safety and health requirements to prevent any problems with the food you serve.

Decorating Your Home Office For Increasing Your Productivity

Do you own a home office where you spend most of your professional time working and even interacting with clients, suppliers, business associates etc? If so, you are probably already familiar with the issues that usually bother people working in such an environment - yes, we are talking about the same old problem of not being able to give your 100% because of the homely touch that still clings to your workplace.

For all we know, offices should look like offices irrespective of whether it is in a corporate skyscraper or in the basement of your house. The crunch of the matter is that before your productivity is seriously hit by the aforementioned factors, all your efforts should converge at introducing a professional touch in your home office. Not only will it give you the office-like vibe which is crucial for productivity purposes, but it will also make a positive impact on the clients/customers/business associates/suppliers when they visit your office.

Decorating a home office is not much different from decorating the rest of your house - it requires creativity as well as a precise objective with regard to what type of design theme you want to incorporate. As for the budget, don't worry about that - there's a wide variety of quality home/office decor items that you can easily find in any decent online or brick-and-mortar shop, at a decent price.

For the sheer high quality, cost-efficiency and the charm that cling to it, wrought iron office artwork and accents make the perfect home decor that you can opt for in a bid to beautify yours. The best part about wrought iron home decors is that they are pretty versatile - for example, if you want to bestow your walls with sophisticated and rustic art pieces, you can get numerous wrought iron artwork that can meet your expectations at affordable cost. Similarly, a visit to the nearest home decors shop or an online search on your favorite interior design and home decor portal could lead you to a wide number of wrought iron items like business card holders, table clocks, and other items that will help you add the desired look in your home office.

Overall, the possibilities are endless - all you need to have is a taste for redecoration with the best possible options available at your end. For a better evaluation of the possible cost associated with any such venture, visit a reputed online home decor shop that deals in wrought iron products.

What Vacuum Metalizing Can Do For Your Product

Vacuum metalizing is ideal for giving sparkly finish to your glass, plastic, metal, ceramic and paper products. No matter the size of your product, it can be metalized to enhance its look or make it more durable.

Vacuum metalizing is done with many metals like aluminum, copper, nickel, platinum, titanium, gold, lead, silver and tin. The product you want to metalize is put in a vacuum chamber in the company of the metallic finish of your choice. Heat is then introduced to the chamber so that the metallic finish will evaporate and form a thin metallic film around the product being coated. The product is properly rotated in the chamber to ensure that the finish is applied uniformly around it.

Vacuum metalizing is very crucial to certain industries like medical, automotive, manufacturing and so on. Products with rough texture or plain look will be enhanced in appearance through metalizing that is perfectly done. A lot of car parts are vacuum metalized and that is why they have stunning looks that appeal to many consumers. Apart from making products to be more attractive, they will also be made stronger and long lasting so that users will enjoy using them.

However, getting a company that will handle the vacuum metalizing of your product is not an easy task. This is because there are lots of companies all over the place involved in this type of business. It is very important for you to investigate properly before dealing with any company. You can decide to go for a local company or check online to see the various offers available. It is advisable to go for a local company and majority of local companies are now online so that you can compare prices and features.

You can choose a non-local vacuum metalizing company if the shipping cost to and fro is not higher than the cost of doing it locally. It is also important to consider quality because it will determine the durability of your product which will be noted by customers. Since the quality of the service of the metalizing company will reflect on the quality of your products, you should not compromise quality service at all cost for enhanced profitability. Your desire of taking your business to the next level can only be achieved if you are focused on producing durable products that customers will be scrambling to get at all times.

Fear of Tummy Tucks: Timidity and Business Success

One of the most successful young executives I've ever known walked away from an unlimited future because he was terrified of not being able to live up to the astonishing record he'd established. He was terrified of being shown to be not quite as good as everyone had come to believe he was. It was like a rookie entering the major leagues, hitting.432 with 74 home runs, winning the MVP, and then retiring. Because he was afraid that the rest of his career would tarnish his achievement.

It probably would have. In baseball terms, that young executive probably never would have hit over .360 or .370 again. When they put up his plaque in the Business Hall of Fame in Mishawaka, Indiana, it probably would have noted that he barely averaged 65 home runs a year. Or maybe he wouldn't have had a Hall of Fame career. Maybe his career never would have been much more than outstanding, or remarkable, or good, or OK. Or even fair or poor.

At least he would have had a career.

Unfortunately, he was more concerned with maintaining his image than succeeding. He gave up what he wanted to do--which means he failed--because he was afraid of failure.

Too many of us do the same--if not quite so blatantly. And often without even having the achievement. Too frequently we're afraid of tarnishing what amounts to a lack of achievement.

Here's my suggestion. Discover whatever you're most afraid of failing at and, as soon as possible, go out and FAIL at it. Unless it's skydiving or tightrope walking or surgery or some such (in which case please ignore this particular suggestion), you will find that:

1) It didn't kill you,

and

2) It didn't kill you.

And,

3) After you do it, after you've already failed, most of the time there's no longer much to be afraid of.

If it's not something you can actual rush right out and fail at, envision failure. Is it any worse than not trying? Or trying in a half-hearted way, hoping you can save face if it doesn't work, and virtually guaranteeing you'll fail?

Fail.

Every one of those people whose opinions we're all so concerned about has failed at one thing or another. Some of them are afraid to try because they're afraid that if they failed, we'd have a lower opinion of them.

I always tell audiences that fear of failure is a lot like fear of tummy tucks. Or butt lifts, breast implants or hair transplants.

I, for example, have a hair transplant. This is, admittedly, a vain and probably dumb thing to have had done. I'm hardly good looking enough to be the kind of guy you'd consider vain about his appearance. But when faced with the prospect of being bald, guess what? To the surprise of virtually everyone who knew me, myself included, it turned out I was as vain as the next guy. Maybe vainer; the next guy didn't bother to have chunks of his scalp sliced out and crammed into little holes elsewhere on his head.

But that's not the point. The point is, that once you have a hair transplant--or, I suppose, a tummy tuck or butt lift--virtually everyone you mention it to will confide that they've considered some form of cosmetic surgery for themselves. A great many of them will tell you they wished they had the courage to go ahead and do it. We're far more alike than we are different.

Don't have the hair transplant. I can't comment on the butt lift. But as for failure, go ahead and fail. Some people will envy your courage. Will others think less of you? Probably. Let them. Do you really value the opinion of anyone who'd prefer that you never tried rather than risk failure? Besides, that type of bozo will think a lot more of you once you eventually succeed.

And if you never succeed? I've always liked what Teddy Roosevelt said: "It is not the critic who counts, not the man who points out how the strong man stumbles or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again because there is no effort without error and shortcomings, who knows the great devotion, who spends himself in a worthy cause, who at the best knows in the end the high achievement of triumph and who at worst, if he fails while daring greatly, knows his place shall never be with those timid and cold souls who know neither victory nor defeat."

Why worry about any "cold and timid soul?" Unless it's your own. As George Bernard Shaw said, "A life spent in making mistakes is not only more honorable but more useful than a life spent doing nothing." Consider your past. What do you regret more, the times you've failed or the times you never tried? What would you prefer to look back on in the future?

Reality Check for Meetings

Recently, I spoke at an awards dinner for a class of sales trainees. The corporate trainer introduced me as, "a special treat--a motivational dynamo." What the trainees didn't know was that, as part of that special treat, they were about to discover that the products they'd have to sell were the most expensive in the marketplace--by far. Prior trainees had been left to make that discovery on their own, once out in the field. That hadn't worked. So the training director had asked me to "see if you can slip them this little fact of life buried in a hail of purple whale manure." Then he'd handed me several formulas for proving that more money is really less money: none completely accurate; all vaguely reminiscent of medieval arguments on the number of angels that can dance on the head of a pin.

Seeing a disaster in the making, I suggested a different strategy. Fortunately, the powers-that-be agreed. Instead of clouding the issue, I hit it head on. "When you get out in the field you going to hear about a lot about your company's prices," I said. "In fact, you may have already heard something about them. Are your prices more expensive than the competition's? Absolutely. Much more expensive! But do you really think your competition would charge less if they could charge more? They're not humanitarians. They want to make as large a profit as possible, just like anyone else. They charge less because that's all they can get anybody to pay. You people charge more because you can charge more: because your clients are not just willing but happy to pay more for the results your products deliver. Now let me tell you exactly why they're so willing... "

We all know that you can motivate people for the short term by pumping them up with illusion and wishful thinking, by sugarcoating the facts, even by out-and-out lying. We've all seen it done; we've all had it done to us. But if you want to your meetings to stimulate change and affect long-term behavior--to get your people where they want to be, to get the organization where it needs to be, to have a financial impact and improve the bottom line--you'd better start by dealing with reality. Bury potential negatives in a hail of purple whale manure and "whale manure" is what they'll be saying about your meeting.

Reality Checklist

1. What are the negatives surrounding this meeting, topics you might be tempted to hide, topics everyone will be thinking about-and the chronic complainers will be grumbling about-whether or not they're ever mentioned out loud?


2. Understand the potential downside of those negatives: to your attendees, your organization and to any others involved.


3. Understand the potential positives that surround those negatives: for the organization, for your attendees, for everyone involved.


4. Isolate the What's in It for Them for each of the Thems you need to reach. Take care of the What's In it for Them, and the what's in it for you--and the company--will take care of itself.


5. Marshall your best possible case, then imagine yourself presenting that case to the group. Imagine there's unlimited Q&A with the biggest complainer in the company taking the lead.


6. Are you, yourself, really sold? If not, don't expect that you or anyone else will be able to sell the group.


7. If you're not sold, what would it take--what can you or the company do--to make the case more saleable? If it can reasonably be done, do it.


8. If it can't be done, deal with the reality, frankly and honestly, explaining why it is the reality and why it's in the best interest of the company--and therefore ultimately in the best interest of each employee.
9. Never forget that truth is the ultimate sales trick. And the ultimate motivator.