New study shows that wealthy boomers are looking for legacy planning that goes beyond financial strategies for wealth transfer to heirs. Boomers want to live their legacy, get involved in volunteering after they retire, or start a socially beneficial busienss, and are concerned about the effect of an inheritance on unprepared heirs. None of this is news, nor is it news that these legacy planning needs are still largely unmet. Advisor education remains technical. In fact is often difficult or impossible to get humanistic training approved for professional continuing education for financial, tax, and legal advisors. It is considered too soft and fluffy. One of the courses I teach, GS 839: Planning for Impact in the Context of Family Wealth, is devoted to topics of interest to the wealthy, as found in this survey.
Albert Ruesga, An Open Letter to Younger People in Philanthropy. At age 55 I mistakenly joined EPIP (Emerging Grantmakers in Philanthropy), since it was all so new to me. Check out their video. It is on these youths that the future of "organized philanthropy" depends. "Happy Birthday EPIP." When they do Social Justice they quickly add Peace. Social Justice and Peace. As if anyone had feared the meek would inherit the world on any other terms.
A controversial story claiming that business has become the default major for undergraduate slackers is gaining some resonance with MBA graduates and B-school profs who say there are similar problems in graduate business education.
I am sure there are exceptions. G.W. Bush was a Harvard MBA. He became the Decider.
LOS ANGELES – Los Angeles County health officials say the bacteria that causes Legionnaires' disease was found in a hot tub at the Playboy Mansion where scores of people became ill after attending a fundraiser in February.
It would have been worse, I guess.
As a barber I use the straight razor while carrying on an intimate chat, "What is the world we want, Monsieur?" (Via private, inebriated communication with The Happy Tutor, now in hiding, or remission. Posted with permission of the Author Function, all rights reserved by Wealth Bondage: America's Freest & Wealthiest Good Corporate Citizens United under God for the Good of All, under the control of the few. Legitimation of Wealth Bondage provided by Wealth Bondage as a public service via many voices, entities, surrogates, and puppets, in places high and low including all three branches of government, all three sectors, and both lobes my brain, subject to periodic lobotomy.)
Candid talk by one who signed the giving pledge on why it is so hard to get all billionaires to do their fair share. Deadbeat billionaires, what is to be done with those who do not acknowledge their debt to society? Dynaststic Wealth Planning, that must be the preferred answer. Asked if big philanthropy has undue influence, the billionaire says, in effect, "Prove I am worse than a lobbyist or any other influence paddler." I found this quite refreshing. We are all in it for ourselves, whether for wealth, vanity, power or thrills, and the worst are no better than Donald Trump, our next President. I get that. But how do I make a buck off it? How can I compete and win to become Trump's Chump?
Would the Working group for Social Justice and Peace consider funding Yes Labs? PayPal button right here. Or, would the Yesmen have to write a faxu-credible grant request, with a credible-sounding theory of social change and some good solid metrics? What a shame if the Yesmen spoof progressive funders. How humiliating that would be.
So how did the government come to address a financial crisis caused by the collapse of a residential-mortgage bubble by giving the wives of a couple of Morgan Stanley bigwigs free money to make essentially risk-free investments in student loans and commercial real estate?
Seven Myths About the Great Philanthropists by David Levenik Editor in Chief of Philanthropy, the Journal of The Philanthropy Round Table, Strengthening our Free Society. Some of us want a just society, and some want a free society. We all want a peaceful society. The Robber Barons were not really robber barons, but Captains of Industry and they did great things for others. Likewise Levenik's funders. Likewise mine. We both love Freedom. We both sing the same song over and over. Because it never ceases to please. I am not sure if Trump is a big philanthropist but I believe he would make a fine President. America is like an Island and he could vote people off it so there would be enough to go around for the Survivors. Generally speaking very rich people are your best guide to what is right and wrong. As a Morals Tutor to America's Wealthiest Families I always recommend that they do what they please. They know best and I am no Fool. Whatever they do I will sing their praises. Maybe some day I can edit a legitimate Philanthropy Journal. One more operation and I will be good to go.
Via the Yesmen,
GE CEO Jeffrey Immelt has informed the Obama administration that the company will be gifting its entire 2010 tax refund, worth $3.2 Billion, to the US Treasury on April 18, Tax Day, and will furthermore adopt a host of new policies that secure its position as a leader in corporate social responsibility.
Looks like there is more to this double bottom line social venture stuff than I had originally thought. I hope GE's example spreads to other coporations, so that the dowsizing of government can proceed apace without loss to the American people. Corporations are Citizens too. They are good Citizens too. We don't need laws to protect us from GE we need GE to protect us from the rule of law. Reagan once pitched for GE. So I know they are a good corporate citizen. Democracy is not the solution. Democracy is the problem. The solution is a benevolent autocracy. We need a smaller democracy and bigger corporations. I may have had both frontal lobes scooped out, but I am not stupid. I watch tv so I know what is going on.