Founder and Chair – LMFC
Vice Chair – LMFC
President and CEO – The Bank of Northern Michigan
SVP of Shared Services - LMFC
Senior Vice President, Traverse City Market Manager

Hear from the founder of Lake Michigan Financial Corporation, Rich Lievense, and his insight on what this blog encompasses.

The financial crisis and the oil well problem in the gulf have something in common – a failure to identify and manage risk. It is human nature to assume that the unusual or extraordinary event will not happen but sometimes it does. Perhaps these events can serve as a reminder for us to consider what we should do if an unusual event occurs and affects our businesses or personal lives. 

High health care costs affect us all. This is a complex and confusing issue. The attached summary provides a high level overview and some potential answers we can all understand.

Read more article: What Drives High Health Care Costs – and How to Fight Back from Harvard Business Review (subscription required to view full article)

The United States is currently in the third quarter of our economic recovery. Although we are glad to see the turnaround, many are not feeling the positive effects – especially those who have lost their jobs or houses. We have believed for some time that this recovery would take time since the recession was caused by too much and poorly structured debt. This debt restructure program will take time and will have a negative impact on the pace of our economic recovery for some time to come. 

In The Big Short, Michael Lewis provides a fascinating look into the mortgage securitization market and how its collapse lead to the Great Recession. The book provides good insight into the recent allegations against Goldman Sachs. Lewis also provides a very interesting opinion on the root cause of the recent turmoil in the financial markets.

Sometimes we Baby Boomers don’t quite understand the next generation that will one day be leading our companies and the country. The Harvard Business Review takes a good look at this topic in its feature Leadership: The Next Generation. Three articles give insight into how this generation thinks and acts and how this will likely affect our businesses in the future. Understanding these issues should help all of us as the new generation begins to exert greater influence.


Read More Text: The Big Short: Inside the Doomsday Machine by Michael Lewis.

Read More Article: Leadership: The Next Generation from The Harvard Business Review.

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