Business

Mining the Moon: A New Era of Commercial Space Exploration

Anna Tolette — Tue, 12 Nov 2024 20:49:47 +0000

Mining the Moon: A New Era of Commercial Space Exploration Anna Tolette Tue, 11/12/2024 - 13:49

Kelsey Yandura

Elizabeth Frank (PhDGeol’14) is helping pave the way for a new era of space exploration and commerce as the chief scientist at Interlune, a Seattle-based startup aiming to become the first private company to harvest the Moon’s natural resources, namely the stable isotope helium-3.

This useful gas, while rare on Earth, is abundant on the Moon and sought after for its uses in medical imaging, nuclear fusion research, quantum computing and more. For the extraction and transportation of the isotope, Interlune plans to build a lunar harvester that the company would fly via spacecraft to the Moon.

What is the vision in terms of the future of space mining and space commerce?

We are trying to find novel ways to leverage the commercial space sector for planetary exploration. What makes people excited about Interlune is that even though we have this vision that seems kind of sci-fi, we have actual customers on Earth in areas like quantum computing, medical imaging and national security. There is an actual demand.

Your PhD was in planetary geochemistry at CU. What led you to Boulder?

There’s an incredible space community in Boulder — a lot of interdisciplinary work among CU departments and organizations like LASP and the Southwest Research Institute. When I was touring CU, I was handed a list of planetary scientists in Boulder that was upwards of 50 people. I thought, “Oh my gosh, there’s just so much going on.”

Your work seems to challenge the idea that industries exist in a silo. Can you talk more about your multidisciplinary approach?

When you’re a PhD student, you are expected to be a specialist. But I don’t actually identify anymore as a specialist. I’m a generalist — I have a PhD in planetary geochemistry, but I’ve also worked in spacecraft engineering, mining consulting, business development and more. To move humanity forward, you need people like me to stitch the specialists’ work together in new and exciting ways.

What topics in the field have been piquing your interest these days?

Ethics and sustainability are really top of mind. The mining industry has a long legacy of harming both people and the environment. I think that we can learn from the mistakes of the past. We want to be intentional and thoughtful about how we use technology and extract space resources for human use.

Any thoughts or advice for recent graduates?

I think PhD students and graduates should know that just because you got your degree in one topic, doesn’t mean you have to stay in that field. You can redirect your career in unexpected and exciting ways. Stay open to opportunities and take them — you never know where they’ll lead you.

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Photo courtesy Elizabeth Frank

Elizabeth Frank (PhDGeol’14) is helping pave the way for a new era of space exploration and commerce as the chief scientist at Interlune, a Seattle-based startup aiming to become the first private company to harvest the Moon’s natural resources.

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Jamie Seward on Recycling Flowers & Spreading Joy

Anonymous — Tue, 16 Jul 2024 06:00:00 +0000

Jamie Seward on Recycling Flowers & Spreading Joy Anonymous (not verified) Tue, 07/16/2024 - 00:00

Tom Kertscher

Flowers have the power to improve your physical and mental well-being — even more so if they are fragrant, according to peer-reviewed research. That’s part of what Jamie Seward (PolSci’97) was after when, late last year, she revived Repeat Roses, a zero-waste solution for event florals that closed its doors during the COVID-19 pandemic. Past clients include the Super Bowl and Duchess of Sussex Meghan Markle.

Mainly located in Southern California, Arizona and on the East Coast, Repeat Roses transports flowers from events such as weddings and corporate events, rearranges them into smaller bouquets and delivers them to nonprofits like homeless shelters, hospitals or nursing homes. Later, a team picks up the flowers for composting and her clients receive a receipt for their charitable donation.

Seward, a Navy veteran and former attorney, also serves as senior associate director of alumni relations for Johns Hopkins University School of Medicine in Baltimore.

What inspired you to take over Repeat Roses?

I have a passion for people, I have a passion for the planet and I want to leave the world a little better than I found it.

What’s the status of your business?

It’s what I like to call a ‘restart-up’ — it was a start-up and we’ve restarted it. We are up and running, we can operate anywhere in the U.S., and we’re hoping to get the word out. It takes time for word to spread that we’re back in business.

What’s it like when you deliver flowers?

There’s nothing quite like seeing the faces of the people in a homeless shelter, both the staff and the residents, and the joy on their faces when they see flowers — which are considered a luxury — brighten up their space. They’re worried about the basics, and to have something beautiful and joyful, it elevates everyone’s mood, it makes everyone feel better and it brightens up their environment.

Why do you compost the flowers?

It’s more advantageous for the environment for flowers to decompose naturally, versus putting them in a plastic bag in a landfill.

Did anything from your CU Boulder experience guide you into doing this type of work?

I was in the Kappa Alpha Theta sorority at CU, and there was often a philanthropic aspect to our activities. So, it was ingrained in me very early that helping people is something I wanted to do in as many aspects of my life as possible.

Learn more about Repeat Roses at @RepeatRoses on social media or at repeatroses.com.

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Photo courtesy Jamie Seward

In Southern California, Jamie Seward (PolSci’97) leads Repeat Roses, a zero-waste solution for event florals. Past clients include the Super Bowl and Duchess of Sussex Meghan Markle.

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Cooking With Kindness: Bruce Bromberg's Unique Approach to Leading Blue Ribbon Restaurants

Anonymous — Tue, 16 Jul 2024 06:00:00 +0000

Cooking With Kindness: Bruce Bromberg's Unique Approach to Leading Blue Ribbon Restaurants Anonymous (not verified) Tue, 07/16/2024 - 00:00

Sarah Kuta

Reality TV shows often depict chefs as cruel, heartless tyrants, willing to make their staff cry in pursuit of the perfect bite. But it doesn’t have to be this way. Just ask Bruce Bromberg (Anth’88). For the last three decades, he’s led a team of extraordinarily loyal staffers at Blue Ribbon Restaurants, the growing restaurant group he co-founded with his older brother Eric Bromberg in 1992.

Blue Ribbon started with one intimate eatery at the edge of New York City’s SoHo neighborhood. Since then, the company has expanded into different concepts — from sushi to bowling — and opened more than 20 locations nationwide.

Through it all, intentional leadership has been paramount to the team’s success.

“We wanted to create an environment where people flourished and wanted to come to work and wanted to learn, not just punch the clock,” said Bromberg. “We found that once we had that environment in place, everyone excelled.”

The results speak for themselves. Diners keep coming back to Blue Ribbon night after night — and so do its employees. Eleven of the 14 staffers who worked the restaurant’s opening night are still with the company more than 30 years later. Now, they’re all part-owners, too.

“[Eric and I] both worked in France in very oppressive and abusive kitchens,” said Bromberg. “They exist in America, they exist everywhere. But it was the last thing we wanted to have happen in our kitchens. There’s a better way.”

Bromberg’s own culinary journey started in his hometown of Morristown, New Jersey, where he grew up in a “very food-centric household.”

“Whether it was my grandmother and her traditional cooking or my father’s obsession with everything French, food was a really strong element in our childhood,” he said. “My father had a home in the south of France, and we would travel there in the summer and he would take us on day trips to every restaurant he could think of.”

Though many of his peers attended East Coast colleges and universities, Bromberg decided to head west. He enrolled at CU Boulder and majored in anthropology. When he graduated in 1988, he didn’t know exactly what he wanted to do next — only that he didn’t want a desk job — so he moved back to the East Coast. His brother, meanwhile, had studied at Le Cordon Bleu, the famed cooking school in Paris, and was running a restaurant in the Hamptons.

One evening, a chef where his brother was working called in sick, so Bromberg offered to pitch in and help.

“That was really it,” Bromberg said. “I spent that first night in the kitchen with Eric and was instantly enamored by the whole process.”

Bromberg followed his brother’s footsteps and headed to France to study at Le Cordon Bleu. When he returned, they went into business together and opened the first Blue Ribbon, a 48-seat “little hole in the wall,” he said. The name is a nod to their culinary training: Le Cordon Bleu means “the blue ribbon” in French.

The eatery was an overnight success, partly because it was open until 4 a.m. each day, attracting musicians, chefs, servers and other people who worked in hospitality and entertainment. The food, of course, was also a big draw.

Over 30 years later, Blue Ribbon’s sweeping success has only bolstered the brothers’ commitment to their people-first leadership approach.

“As a chef, I am a teacher. I’m constantly teaching. You have to be patient and respect every single individual in your environment until the last moment.”

For more information on Blue Ribbon Restaurants visit BlueRibbonRestaurants.com.

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Photos Courtesy Blue Ribbon Restaurants

Bruce Bromberg (Anth’88) and his brother Eric founded Blue Ribbon Restaurants in 1992, and prioritized leading their employees in a productive and welcoming environment. Some staff members remain with them more than 30 years later.

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Soft Skills Are the New Power Skills

Anonymous — Tue, 16 Jul 2024 06:00:00 +0000

Soft Skills Are the New Power Skills Anonymous (not verified) Tue, 07/16/2024 - 00:00

Katy Hill

For decades, the archetypal C-suite executive stood tall as a domineering figure, leading from a distant corner office. Interpersonal skills — literally labeled “soft skills” — were seen as expendable on the corporate ladder.

However, a growing body of research shows that company leaders who exhibit communication, flexibility and compassion help teams collaborate more effectively, motivate workforces and retain employees. As a result, modern paradigms are shifting to reframe these “soft skills” as highly coveted “power skills” among today’s top leaders.

“Being a good leader is being a good human,” said Tony Kong, associate professor of organizational leadership and informational analytics at Leeds Business School. “When a leader can show tenderness, sympathy and compassion, especially in times of crisis and uncertainty, it can trigger employees’ feelings of gratitude and make them want to go above and beyond.”

The stress and upheaval of the COVID-19 pandemic underscored the need for empathetic leaders and a more nurturing workplace culture, Kong said. And today, corporate downsizing and emerging technologies further compound that need. According to the World Economic Forum’s 2023 Future of Jobs Report, skills like creativity, resilience, flexibility, self-awareness and empathy will be among the most valued over the next five years.

Kong, also the faculty director of Leeds’ leadership certificate, and David Hekman, associate professor of organizational leadership and information analytics, share more research-backed insights about the benefits of empathy and humility in company leadership and why leaders at all levels need to embody these skills.

The surprising power of humility

By acknowledging their mistakes, highlighting others’ strengths and exhibiting a learning mindset, leaders cultivate a workplace culture oriented toward growth.

“Humility in leadership benefits teams, individuals and entire organizations,” Hekman said. “It helps people experience more psychological freedom, authenticity, job satisfaction, improved team performance and motivation.”

Hekman studies how leader humility influences team performance. One such study, published in the Academy of Management Journal in 2016, examined the operations of 84 laboratory teams and 77 health care teams. It revealed that when leaders exercise humility, it can effectively propagate throughout a team.

“Humility spreads — it’s contagious,” Hekman said. “It enhances feelings of safety, so you can feel safe speaking up to your boss. It reduces turnover and results in a more motivated workforce.”

Although it’s clear that leader humility benefits teams and organizations, there is a widespread belief that humility may hinder leaders from advancing through the corporate ranks.

However, Hekman’s recent research indicates that there is a “humble route” to career advancement.

“Conventional wisdom is that you’ve got to be Machiavellian and self-promote and bully to rise to the top, but humility is also a catalyst for leadership success,” said Hekman, who co-authored a study on humility and career advancement that was published in the January 2024 edition of the Journal of Human Resource Management.

Informal career mentoring, which helps cultivate a network of loyal followers, is key to humble leader advancement. “It gives them status in the organization because passing on skills, tips and tricks builds up a lot of social capital,” Hekman said. “So they build this network of people who end up being an army of very talented, very motivated, trusting people, which is unbeatable.” The elevated status often leads to promotions.

Warmth in the workplace

Interpersonal warmth is also crucial in fostering a positive workplace culture, Kong’s research shows. Employees are more likely to be engaged and motivated when a leader is understanding and supportive. Similarly, leaders who convey “warmth” can build trust with their direct reports, fostering open communication and acceptance of new ideas.

Warm and empathetic leaders can also help lessen employees’ negative work stress. According to a study published in April 2023 in the Academy of Management Journal and co-authored by Kong, whether an employee sees a work stressor as a challenge or threat hinges on how they view their direct manager.

Based on two surveys of more than 250 employee-leader pairs in 234 companies and organizations in more than 40 industries in China, researchers found that employees view the prospect of performance-based pay raises positively when they view their manager as competent and warm.

Capable and supportive leaders create fulfilling work environments, inspiring employees to rise to the challenge with increased work engagement and performance.

On the other hand, “If my leader is cold, untrustworthy, unfriendly and unsupportive, then I’ll perceive pay for performance as a threat,” Kong said. “I’ll be stressed and withdraw from my work, maybe coming to work late and leaving early. I will perform worse because I’m disengaged.”

Kong’s research also shows the importance of prioritizing employees’ psychological needs during a crisis. A 2021 study he co-authored, published in the Journal of Positive Psychology, surveyed employees during the peak of the first wave of the COVID-19 pandemic. It found that when supervisors acknowledged their employees’ suffering and provided emotional support and flexibility, it improved relationships and evoked gratitude among their reports. It also helped employees adapt and increased their engagement at work.

The study underscores why prioritizing human connection is essential for a positive work culture, Kong said.

“When a leader shows empathy, people appreciate it,” Kong said. “They actually do more even though it’s not a requirement.”

A cornerstone for inclusion

Empathy can help managers lead with inclusivity and better understand others’ perspectives and worldviews.

According to a 2021 survey by Catalyst, employees across different genders and racial groups feel more valued and respected while working with an empathetic leader compared to less empathetic ones.

Kong said it’s also important for leaders to consider diversity in a wider context.

“Diversity is very complex, but often we fixate our attention on demographics and forget that people have different perspectives, different backgrounds and different ideologies,” said Kong, who teaches a module on managing diversity in Leeds’ Executive Leadership Program.

“Instead of using demographics as a proxy, why don’t we try to better understand people’s perspectives, worldviews and experiences? That’s using empathy to understand and respect others’ points of view.”

Empathetic leaders value diverse perspectives and create a culture of respect, acceptance and unity, which helps foster a sense of community among employees.

“Over time, I think practicing empathy will not only give you emotional talent, but also cultural intelligence,” said Kong.

Powering up “soft skills”

Empathy and emotional intelligence are hard to quantify, and they’re often overlooked when it comes to hiring, according to Kong.

“It’s not a luxury for leaders to have empathy. It is a necessity,” said Kong. “But oftentimes, we promote leaders in terms of technical skills. And sometimes we find that they don’t understand people. They only understand what they do, but they don’t understand who they’re working with.”

Kong explained that companies often prioritize short-term performance over long-term culture building because return on investment (ROI) is not attached to these relationship-building skills. “We need to shift the thinking about who we hire, who we promote and what kind of culture we want,” he said.

Hekman and Kong believe companies should implement systems that promote and cultivate “power skills.” For example, human resources departments can work with companies’ leadership to promote mentoring programs, create systems that provide transparency, and facilitate leadership training programs that contribute to career success and organizational growth.

Meanwhile, company leaders at any level should focus on providing quality feedback to employees more often, Kong said. “Providing good feedback is a skill set. It’s a leadership skill that requires empathy,” he said.

“A lot of times leaders do not know how to give feedback, but employees crave it for self-growth,” he added. “Try to frame feedback sessions as more constructive and focus on strengths instead of limitations. Take perspective and try to put the right people in the right positions according to their strengths.”

This shifting emphasis promises lasting repercussions — especially as companies integrate AI technology into their operations. According to recent research, employers will increasingly value these “power skills” that enhance human interactions in the AI age.

“We don’t know what is going to happen, but my hunch is that our human advantage is going to be our [interpersonal] skills,” Hekman said.

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Illustrations by Ben Kircher

“Soft skills” are getting a rebrand. Studies show today’s business leaders need increasing levels of empathy, humility and emotional intelligence to navigate a rapidly changing world.

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Alum Shaun Goodwin Creates Sauce Leopard

Anonymous — Mon, 25 Jul 2022 06:00:00 +0000

Alum Shaun Goodwin Creates Sauce Leopard Anonymous (not verified) Mon, 07/25/2022 - 00:00

Kiara Gelbman

After losing work in the music industry during the pandemic, Shaun Goodwin (Mktg’13) opened Sauce Leopard, a Denver-based hot sauce business. Sauce Leopard was featured on season 18 of the YouTube talk show, Hot Ones, which features celebrities as they eat saucy chicken wings and answer questions. Sauce Leopard sauces are available in select stores across the U.S. and available online.

What was your favorite part of your CU Boulder experience?

I met a lot of people with similar interests to me. If it weren't for them, I don't think I would have had a career in music. We spent most of our time jamming Neil Young songs in the living room of our house. I also really loved being right next to the mountains. I was able to go fishing or snowboarding often and it was the perfect way to take a break from school.

What sparked the idea of creating Sauce Leopard? Why hot sauce?

I've always been super passionate about cooking and sauce making became a hobby right after college when I moved to Denver. When the pandemic hit, I lost other work in the music and service industries. I had started a concert promotion company in 2015 and spent several years booking music festivals, but I was looking for a new creative way to monetize my crafts once concerts looked unlikely for a while. My mission became to create a condiment company that looks and tastes different from almost anything else in the market. I think we've done a pretty good job of doing so!

Tell us about some of the products you’ve created.

One of our flagship sauces is the Colfax Killer. Colfax Avenue is the main street that runs east to west through Denver, and at 50 miles, is known as the longest commercial street in America. I started the business at my previous house on East Colfax, and some of the peppers that went into the first official batches were grown in our garden there. The sauce is an ode to the rich history of this street, and its role in my life during my 20s. The Colfax Killer is an upper-medium heat tropical habanero sauce and has already won several international awards for its flavor.

The sauce featured on Hot Ones is The Seventh Reaper, a red chimichurri Carolina reaper sauce. We created this sauce in collaboration with design agency Seven Designs for their seventh anniversary. Their founder, Connor Lock, designed the label on it.

Where can we find Sauce Leopard?

Sauce Leopard is available in nearly 100 retail locations in several states. For those in Boulder, grab some at Lucky's Market in North Boulder or Peppercorn on the Pearl Street Mall. Denver folks can grab them at most Natural Grocers locations. Visit sauceleopard.com to find a store near you.

What future goals do you have for the company?

We plan to be in most major super markets across the U.S. and a household name in the condiment industry. We also plan to be much more than a sauce company, staying involved with music, skateboarding and the preservation of endangered leopards, something I’m passionate about.

Is there anything else you would like to add?

We ship our products anywhere, so be sure to visit our website if your fridge looks a little bland!

Photos courtesy Shaun Goodwin

Shaun Goodwin's Denver-based company, Sauce Leopard was featured on the Youtube talk show, Hot Ones.

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Photo of the Week: New Venture Challenge

Anonymous — Thu, 15 Apr 2021 15:27:08 +0000

Photo of the Week: New Venture Challenge Anonymous (not verified) Thu, 04/15/2021 - 09:27

Students and community members chat and enjoy refreshments in the Start Up Hub during the New Venture Challenge kickoff night at Williams Village in 2018.

Know any budding CU entrepreneurs who need only a good push to get their business off the ground? Point them to the New Venture Challenge (NVC).

You can think of the program as CU’s entrepreneurial “flight simulator.” Participants from majors across the university, in various levels of study, are invited to pitch their ideas for a chance to gain mentorship and financial support. Ideas are judged on three criteria: promising idea and feasibility, momentum (how much has been accomplished to date) and quality of presentation.

The NVC website states, “NVC is designed to help CU Boulder innovators, changemakers, ideators and entrepreneurs turn their ideas into a reality, even if they're not sure where to begin.”

The 2021 New Venture Challenge Championships took place on April 13. This year’s first place team was HUG solutions, who invented a device that helps deliver COVID-19 vaccinations to rural areas.

Learn more about the New Venture Challenge.

(Photo by Patrick Campbell/University of Colorado)

Know any budding CU entrepreneurs who need only a good push to get their business off the ground? Point them to the New Venture Challenge (NVC).

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Sweet Gig

Anonymous — Thu, 18 Mar 2021 06:00:00 +0000

Sweet Gig Anonymous (not verified) Thu, 03/18/2021 - 00:00

Helen Olsson

As a CU undergrad, Jessica Dee Sawyer (ArtHist’03) studied the bold black lines of Piet Mondrian and Wassily Kandinsky’s striking use of color. When it came time to redesign the logo and packaging for Smarties, the beloved crunchy candy pellets that have remained unchanged since the 1950s, Jessica tapped into her background as an art history major.

Jessica, along with her sister, Liz Dee, and her cousin, Sarah Dee, is co-president of the Smarties Candy Company, with factories in Union, New Jersey, and Newmarket, Ontario. (In Canada, the candy is called “Rockets.”) They are the third generation to helm the iconic brand.

Jessica’s grandfather Edward Dee moved to the United States from England in 1949 and started the company, known then as Ce De Candy. Edward came from a family of candymakers, so Jessica is actually a fifth-generation candymaker.

Michael Dee, Jessica’s dad, and Jonathan Dee, her uncle, are known to the current leadership as “the dads.”

“I always wanted to work with my dad. And the dads always hoped we’d end up running the company,” Jessica said. “The dads had an unwritten rule that you had to work outside the company for at least a year.”

“Our dads ran the company for so many years. We wanted to put our own stamp on it.’”

Jessica spent that year working at the Denver Art Museum. But she was eager to join the family business, returning to New Jersey to work at the factory the next year. Liz and Sarah followed soon after in 2005. On-the-job training meant working machines, doing order entry and digging into research to understand the inner workings of the company.

“We did everything. Sarah was driving a forklift. We would dig through the accounting files to figure things out. We asked a lot of questions,” Jessica said.

Soon, each of them gravitated to the area they were most interested in, creating a division of labor. In 2017, they became co-presidents, with Jessica in charge of sales, HR, design and logistics; Sarah heading up production and operations; and Liz running food quality and safety and communications.

“I got more involved in packaging and design and hired an in-house artist,” said Jessica. “Color was the thing I was most interested in and how it plays into packaging for brand recognition.”

Since the company reins were handed over to the next generation, the dads have stepped back a bit, though they remain with the company as executive vice presidents and still serve on the board.

“They have offices on site,” said Jessica, “but for the most part work remotely.”

Before Jessica’s grandfather died last year at age 95, he would come into the factory every day.

“He’d give us a report from the floor,” she said. “He was our eyes and ears.”

While the brand has added products, like tropical and sour flavors and a popular megaroll, the flagship product’s recipe hasn’t changed since 1949, when the first pellets came out of the presses (the original machine was a repurposed World War II gunpowder pellet press). Billions of rolls are produced each year, and the factory runs 24 hours a day.

Still, the new presidents recognized the brand needed a makeover.

“We like retro, but it was feeling a little bit too retro,” Jessica said.

They studied the shape and twist of the plastic packaging — “We looked at so many twists!” — and added a tiny wink in the twist and in the “R” in the Smarties logo.

“It’s like a smile,” she said. “Our dads ran the company for so many years. We wanted to put our own stamp on it.”

Before the new generation took over, the company’s files were paper and stored in filing cabinets. The women overhauled the system by making files digital, creating an accounting system and hiring an IT person.

They also added 2,000 solar panels on the roof of the New Jersey factory, next to the giant silo where some 50,000 pounds of dextrose is blown in each day. The solar panels offset half the factory’s energy usage.

“We feel so lucky to do what we do every day and to work with family,” Jessica said. “The best part is knowing we bring joy to people.”

Since the 1990s, Smarties has also had a heart-shaped candy in its line, and when the Necco company ceased production of its popular Sweethearts candy, Smarties Love Hearts filled the space on the Valentine candy shelf. The new presidents updated the sayings stamped on the hearts with “YOLO,” “On Fleek” and “Text Me.”

In 2019, to celebrate the company’s 70th anniversary, Smarties added a gummy-like candy called Squashies to its line. With flavors like raspberry and cream, Squashies are made in England by the Swizzels company, which is, incidentally, run by the son of Jessica’s grandfather’s cousin.

“My kids love them. I can’t keep them in the house,” she said.

Sawyer lives in New Jersey with her husband, Donald (Hist’05), who she met at CU. They have two kids, Madeleine, 7 (“like the cookie”), and Theodore, 4, who act as taste testers for new products.

“Kids are honest,” Jessica said. “They say whatever they want.”

Jessica hopes the company will continue to remain a family business for many years to come.

“We feel so lucky to do what we do every day and to work with family,” Jessica said. “The best part is knowing we bring joy to people.”

Photos by Nick Cabrera

CU grad Jessica Dee Sawyer (ArtHist’03) is a fifth-generation candymaker with an eye for innovation.

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Simple Wealth

Anonymous — Tue, 16 Feb 2021 19:16:11 +0000

Simple Wealth Anonymous (not verified) Tue, 02/16/2021 - 12:16

By Holly Morphew (IntlAf'02)

(Modern Wisdom Press, 208 pages; 2021)

Buy the Book

If you've put off facing your personal finances because you're afraid of what you might discover, worry no more! A beautiful life of confidence, ease, and empowerment when it comes to money is waiting for you, right here, right now.

Within these pages, pioneer financial coach and Accredited Financial Counselor® Holly Morphew shares her proven system for eliminating debt, building savings, creating wealth, and reaching financial independence-allowing you to live your best and most joyful life, both today and in the future. Whether you are getting a head start or starting late, whether you want to make millions or just live simply with more freedom, this book shows you how to use money as a tool to live life on your own terms.

Accredited Financial Counselor® Holly Morphew shares her proven system for eliminating debt, building savings, creating wealth, and reaching financial independence-allowing you to live your best and most joyful life, both today and in the future.

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The COVID Economy

Anonymous — Wed, 11 Nov 2020 05:00:00 +0000

The COVID Economy Anonymous (not verified) Tue, 11/10/2020 - 22:00

Christie Sounart

Senior economist Richard Wobbekind (PhDEcon’84), associate dean for business and government relations, has worked for the Leeds School of Business since 1985. Here he discusses our nation’s economy in a pandemic world.

How do you best describe your job?

I think of myself first and foremost as an educator. I describe the work we do in the research division as a way to provide information for businesses and government that assists in their decision-making processes. My teaching role follows the same theme, providing a framework for decision-making and describing the best sources of information dependent on the industry sector a student might pursue.

When did the economic reality of COVID-19 first hit you?

It became clear to me in late February that supply chain disruptions were likely to occur due to the severe impact on the Chinese economy. The severity of the impact on the U.S. economy didn’t really strike me until the middle of March when the closures (including live CU classes) began.

Have things unfolded as you expected since March?

Early on I was expecting a more V-shaped recovery. By the middle of April, it became obvious that there was so much uncertainty with the virus that a longer and slower path to recovery was likely. Since that point in time we have seen some parts of the economy with a V-shaped recovery but other parts on a much slower path. The resurgence of cases wasn’t a surprise for us since we have been following the medical side closely. One can argue whether we should have kept the economy closed longer, but the economic devastation was so vast that we anticipated states would reopen. Unfortunately that led to rollbacks in a number of states.

What is the most concerning aspect of this pandemic for you?

The disproportionate impact on the people in our economy who can least afford it. We knew before this happened that there were income inequality issues, but the nation had a 3.5% unemployment rate so most people needing a job could find one. The issue was whether that job paid a living wage. Now people once concerned about earning a living wage have the highest unemployment rates. The jobs lost have disproportionately impacted women and minorities, who have higher concentrations of employment in the most impacted industrial sectors.

Are there positive outcomes you foresee arising from this time?

We will know the actual answer to this sometime in the future, but I believe so. Some of the most impacted individuals will develop new skill sets which will hopefully raise their wages. We will use communications technology in more productive ways (increasing economic efficiency). The U.S. will invest more in medical research.

What are a couple of things people can expect from the U.S. economy moving forward?

Unfortunately, until a vaccine is found, the economy will continue to cycle with the number of new cases and the rate of increase or decrease. The fiscal stimulus has helped stave off what would have been a significant drop in consumption, but consumer and business confidence remain the keys. Until we get this under control, uncertainty, and therefore diminished levels of consumption and investment, will rule the day.

That said, vaccines are not 100% effective so we will have to show that those infected can be treated successfully. Those changes will enable more travel, less distancing and basically return us to economic efficiency levels seen before the virus or potentially even higher.

How many years of recovery could it take for the economy to rebuild?

This is of course the great unknown. My best estimate is three to three and a half years. If you assume a vaccine sometime in the first half of 2021, the full recovery will likely take until the second half of 2023. This timeline is based on the level of economic disruption COVID-19 caused and the extent of the recession. We should actually be on a reasonable growth path the second half of 2021, but when you consider how many displaced workers need to be retrained and how many failed businesses need to be replaced, you begin to see why it will take several years.

Are there areas of business that are performing better than others right now?

A few areas, that are likely obvious, are the replacement activities such as e-commerce for conventional retail and commercial groceries for restaurants. In addition, those companies that provide or support internet technologies are thriving. Biological research is booming. Beyond those more obvious areas, however, there are others in high tech and defense that are doing quite well.

How has Boulder fared compared to similar cities during this time?

Based on the limited data that we can see at the city and county level, Boulder appears to be holding up nicely. A little lower unemployment rate, a decent retail sales bounceback, a lower concentration in leisure and hospitality employment and strong high tech and biotech sectors are a few of the reasons.

Any last thoughts?

It would be a catastrophe to suffer through this episode and not have huge positive improvements as the outcome. If we don’t have improved medical care, educational capabilities, technological efficiency and labor force skills, shame on all of us.

Condensed and edited.

Photo courtesy Richard Wobbenkind ; right: iStock/andresr

Senior economist Richard Wobbekind, associate dean for business and government relations, has worked for the Leeds School of Business since 1985. Here he discusses our nation’s economy in a pandemic world.

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Buffs With a Brand

Anonymous — Tue, 10 Nov 2020 17:00:00 +0000

Buffs With a Brand Anonymous (not verified) Tue, 11/10/2020 - 10:00

Andrew Daigle

Men’s basketball’s Evan Battey (Jour’22) envisions a career in sports broadcasting when his playing career is over — and the gregarious “Mayor of Boulder” would be a natural on camera.

Yet, how can he and other athletes capitalize on their fame while they are still students? A first-of-its-kind CU program will help.

In April, the NCAA decided to advance legislation. If approved, it will allow student-athletes to profit on name, image, and likeness (NIL) starting with the 2021-22 academic year, CU Athletics launched Buffs with a Brand to educate students on personal branding, entrepreneurial skills and financial literacy.

The program will help Buff student-athletes like Battey navigate compensation from third-party endorsements, social media opportunities, personal appearances and businesses they start.

Lauren Unrein, assistant director of leadership and career development, coordinates the voluntary program, which is open to all current student-athletes in CU’s 17 intercollegiate sport programs.

“Prior to the NIL decision, so many students would talk to us about wanting to start their own companies,” Unrein said. “We wanted to give them the opportunity to learn how to be entrepreneurs.”

Beginning this fall, participants will meet remotely once a month. Erick Mueller, faculty director of entrepreneurial initiatives at the Leeds School of Business, will lead the hour-long sessions. Entrepreneurial mentors will work directly with students who will also participate in a branding program designed by Jeremy Darlow, best-selling author of Brands Win Championships.

“It’s doing and acting versus just talking about it,” Mueller said.

Students may craft a hypothetical business or one they intend to capitalize on eventually, such as a sports camp or apparel company. However, Buffs with a Brand will focus more on long-term success than immediate capitalization.

“It’s unlocking and unleashing the entrepreneurial spirit already within them,” Mueller said, “[and] giving them the confidence to say, ‘I can do this.’”

Photos courtesy CU Athletics

Coinciding with the latest NCAA sanctions, a new CU Athletics program teaches student-athletes personal branding, entrepreneurial skills and financial literacy.

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Business

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The COVID Economy

How do you best describe your job?

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Buffs With a Brand

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