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Rules from the BABY’s Book on Becoming a Billionaire
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Rule #302: When confronted with meager and unattractive
alternatives, do not settle for the best available bad choice. Any way you cut
it, it’s still a bad choice. At that point, go back to the drawing board and
get some fresh crayons.
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Quick decisions -- slow death? Neil discusses Nobel Prize winner Daniel
Kahneman's analysis of executive decision-making and the mistakes
caused by arrogance and ignorance.
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Saving a sinking ship. Filing bankruptcy to reorganize your failing
business may be the "life ring" to keep your technology or service afloat.
Attorney Debbie Riley advises how Chapter 11 may be employed to give
your business a second chance in this week’s Ask the Expert segment.
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Pulling up (high) stakes. Despite its longstanding roots in California,
the biotech industry is being heavily recruited by other regions. BIOCOM's Joe
Panetta argues that potential dividends far exceed challenges
associated with growth of the life sciences industry.
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Miracle or Mirage? Neil reflects on entrepreneurial "epiphanies"
and challenges entrenauts to venture outside their comfort zones to arrive at
technology business solutions.
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The entrepreneurial Wonder Woman. Around the globe, women executives and
entrepreneurs face challenges in balancing career and family, but according to
leadership expert Suzanne Frindt, Middle Eastern women also struggle
with unique traditions.
Joe Panetta is president and CEO of BIOCOM the regional association representing
over 450 biotechnology, medical device, diagnostics, medical equipment and
bioagriculture companies in the San Diego area as well as the service firms,
municipalities, colleges and biomedical research institutions. He currently
serves on the boards of directors of the San Diego Chamber of Commerce, San
Diego World Trade Center, San Diego Regional Economic Development Corporation,
and the San Diego Workforce Partnership. His civic involvement includes serving
on the San Diego Public Utilities Advisory Commission. Panetta has been
actively involved in biotechnology product development and commercialization
for more than 20 years, having begun his career in industry with Pennwalt
Corporation, a Philadelphia-based pharmaceutical and chemical corporation now
owned by the Elf group. In 1988 he joined Mycogen Corporation, a pioneering San
Diego based biotechnology firm where he played a principal role in
commercialization of the first recombinant DNA microbes and crops. Panetta
served as vice president of government and public affairs at Mycogen during a
period when the company grew to over 600 employees with sales of $250 million,
with offices throughout the U.S. and the world. His business development
responsibilities included creating and serving as Chairman of Mycogen Mexico,
as corporate board member of Mycogen France, as a principal liaison to
Mycogen's Japanese partners Kubota Corporation and Japan Tobacco as well as the
company's Argentine subsidiary. After participating in the sale of Mycogen to
The Dow Chemical Company in 1998, he served briefly as global leader of
government and regulatory affairs for the Plant Sciences Division of Dow
AgroSciences before joining BIOCOM as its first president and CEO.
Debbie Riley is a partner at Allen Matkins where her practice focuses on
bankruptcy and creditors’ rights issues. She has represented debtors in
possession and creditors' committees in complex commercial Chapter 11
proceedings and has handled all aspects of a case from pre-bankruptcy planning
through plan confirmation, as well as post-confirmation matters. Prior to
joining Allen Matkins, Riley was a partner at McDermott Will & Emery in Chicago
where she was involved in many prominent and complex bankruptcy cases and
workouts. Before embarking on the practice of law, Riley was a certified public
accountant in the State of Connecticut and maintained an audit and consulting
practice with a predecessor to Ernst & Young. Riley is a member of the American
Bankruptcy Institute, the International Womens' Insolvency Restructuring
Confederation, the Turnaround Management Association, the Association of
Insolvency & Restructuring Advisors, and the San Diego Bankruptcy Forum. She
received her B.S. from Quinnipiac University, summa cum laude, her MBA from the
University of Hartford, and her J.D. from the University of San Diego School of
Law in 1990. She clerked for the Honorable Peter W. Bowie in the United States
Bankruptcy Court for the Southern District of California from 1989 through
1991.
Suzanne Frindt co-founded 2130 PartnersTM with her husband
Dwight in 1990. She is a recognized speaker on the topics of Vision-Focused
LeadershipTM and Dialogue for Results™, speaking to various organizations
around the world. Suzanne is also a Group Chair for Vistage International, Inc.
an organization of CEOs and key executives dedicated to increasing the
effectiveness and enhancing the lives of more than 12,000 members. Each month
she facilitates three groups in Orange County, California, including 50 CEOs,
company presidents, entrepreneurs and key executives, while also regularly
contributing entrepreneurial creativity and management experience to several
companies through service on their advisory boards. Prior to founding 2130
Partners, Frindt was a founding principal of Communities Unlimited, a
satisfaction research firm. In her pre-entrepreneur days, she held executive
leadership positions in a variety of business units. Frindt has an MBA from the
University of California, Irvine, and has a deep personal commitment to ongoing
growth development in a broad range of disciplines including being ordained as
an inter-faith minister in 2005. In addition, Frindt continues to be an
investor/activist with The Hunger Project, a strategic organization committed
to ending hunger worldwide on a sustainable basis.
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