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Much of Captain Craig Markham's work takes place at sea, but he's building a new headquarters for his company, Sea Tau Venice, on land.Markham describes Sea Tau as “AAA on the water.” He helps distressed boaters who need a tow or sometimes gasoline.”When a vessel has a problem in the water, breaks down or runs aground, they contact us,” Markham said. “We send a vessel out to tow the vessel, refuel, recover the stranded vessel, or whatever the situation may be.”He will soon have a 5,000-square-foot office for his operations in addition to his current fleet of five boats. “We've…
Cadillac’s beautiful, sleek LMDh race car has been tearing up the track at endurance events around the globe, racking up plenty of podium finishes since its racing debut in 2023. While the car’s cutting-edge design is gorgeous, many of us at Hagerty wanted to know what was behind its blistering performance, so we sought some background information on its rowdy V-8 powerplant. We got to speak with Adam Trojanek, the lead propulsion engineer for Cadillac’s LMDh (Le Mans Daytona hybrid) entry about the development of the LMC55.R V-8. Without revealing too many secrets, he shed some light on the engine…
Chancellor of the Exchequer Rishi Sunak's election announcement has thrown carefully laid business plans into disarray.The regulator was expected to begin selling NatWest Bank shares in June.The Bank of England is due to decide on interest rates on June 20 (pictured: Governor Andrew Bailey)Credit: ReutersHowever, this plan is now on hold due to the UK's decision to hold a general election on 4 July.Calling an election triggers the purdah period, which restricts government activity until the vote. And the timing of NatWest's results means July is not possible.But it may be back in the fall. Shadow Chancellor Rachel Reeves also…
Developing a successful business plan is essential for the success of any small business. A business plan acts as a roadmap, guiding your business through stages of development, securing funding, and attracting potential investors. Funding options are a key aspect of this roadmap as they determine the resources available for growth and sustainability. A well-crafted business plan also helps identify potential challenges and outline strategies to overcome them. Here is a comprehensive guide to creating a standout business plan. executive summary Although the executive summary is the first section of your business plan, it should be the last. This section…
Mazda has announced a new mid-term plan aimed at increasing sales and profits over the four years from fiscal 2007 to 2010.Under the new plan, called the Mazda Advancement Plan, the company aims to achieve global sales of 1.6 million units, operating profits of more than 200 billion yen ($1.7 billion) and a profit margin of 6 percent on sales by 2010.Mazda also wants to strengthen its ties with Ford Motor Co., which owns a third of Mazda.”Under the Mazda Momentum Plan, Mazda has successfully completed its efforts to build a strong foundation for steady growth into the future,” CEO…
Nathan Beckord Showing that you already have the support of interested funders will generate even more interest.Getty Are you a bit nervous about approaching investors? You're not alone. Sometimes you don't know how to present yourself as a founder when it comes to presentations. Were you too reserved in school or do you express your enthusiasm openly? Luckily, Loop's Brian Gannon has some tips for doing just that smoothly while promoting his company: He raised $8 million in three rounds of funding to fund Loop's digital photo-sharing frame, which makes it easy for families to exchange treasured photos. So, how…
Governance experts, lawyers, accountants, and consultants debate the definition of board prudence. The line between supervision and micromanagement, and between adversarial and cooperative behavior, can be fine. However, the board's obligation to provide guidance when a new CEO takes over is uncontroversial. The challenge lies in how to navigate succession issues without burdening the new CEO. Recently, I hosted legendary former Xerox CEO Anne Mulcahy and spoke to 100 MBA students in a leadership class at Yale University. And soon Nick Nicholas, former Time Warner CEO and Xerox board member, ambushed her with a surprise visit. She plays a key…
Learning how to use TikTok for business can level up your marketing strategy. The platform is home to over 1.5 billion users of all ages. But surprisingly, only 26% of marketers are currently using TikTok. Considering the massive user base and engagement rates the platform offers, there’s a huge opportunity for brands to capitalize on this untapped potential. In this article, we’ll show you how to use TikTok for business. Follow the steps below to learn how to set up your account, develop a TikTok marketing content strategy, run ads, track performance and more. Why you should use TikTok for…
The 2024 Directors Think Survey: Corporate DirectorBDO and Diligent Institute found that AI and cybersecurity emerged as two of the most challenging areas for directors to oversee, at 36% and 35%, respectively. As board members maintain a neutral outlook on the U.S. business environment, these two areas are becoming more important to short- and long-term success. New AI risks highlight need for increased oversight Technologies such as generative AI have the potential to transform the way we work, and many boards are wary of their organization's readiness gaps. Without proper governance over the implementation and use of AI, organizations could…
Editor's note: For many years chief executive officer Columnist Jonathan Burns died He passed away on May 7th at the age of 75 after a long and courageous battle with cancer. The MIT professor, consultant, and co-founder of Profit Isle was a brilliant mind, a thoughtful businessman, and a kind person. We will miss him. This column is one of several he submitted to us before he passed away. *** When I talk to managers about profit generation, I'm often asked about profit traps — logic traps that lead to significant revenue drain. There are three big offenders: Marginal contribution.…