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<p>Employees say:</p><p>"I don't ever feel like I have to prioritize work over family/personal priorities. My kids have many afterschool activities, and I will occasionally have to leave 30 minutes early, or start work 30 minutes later in order to fulfill their obligations. My team is understanding of that, and I've never had that in any other company I've worked for. There's no need to tip toe around the issue, or ever have to put work above family for the sake of my employment."</p>

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Some pin the blame for Silicon Valley Bank's collapse on poor choices by its executive team; others say lax regulation by the government was the problem.

 SVB collapse: Lawmakers debate who is at fault

Finance

This is a textbook case of bank mismanagement. The risk, the bank face interest rate, risk and liquidity risk. Those are bread and butter banking issues. The firm was quite aware of those issues. They had been told by regulators. The problem that we've seen most recently is that we're, we're reaping the consequences of lighter regulation. When Chair Powell started leading the deregulatory movement. It in the Federal Reserve and getting the regulators to lighten up. The consequence is problems get missed. The picture that has emerged thus far shows seb had inadequate risk management and internal controls that struggled to keep pace with the growth of the bank. Supervisors began delivering supervisory warnings near the end of 2021. A review will consider whether these supervisory warnings were sufficient and whether supervisors had sufficient tools to escalate them. We are also focusing on whether the Federal Reserve supervision was appropriate for the rapid growth and vulnerabilities of the bank. How how can you ask Congress for more authority with a straight face to that end? I hope to learn how the Federal Reserve could know about such risky practices for more than a year and fail to take definitive corrective action by all accounts. Our regulators appear to have been asleep at the wheel when we ask who should have known how the risks were building in these banks. We should start at the source with the executives. Silicon Valley Bank almost quadrupled in size over three years. Signature bank more than doubled in that time. The principles here aren't complicated. Banks should be prudently managed, should be mindful of the full scope of risks they face should diversify across companies and products. We need to learn from what has just happened with these banks and go forward by tightening the regulations. It's just that simple. Um when we roll back regulations so that bank executives can use these banks to boost their profits to boost their own salaries to get big bonuses. They are doing it by taking on more risks. Banking should be boring and we have a chance here in Congress to make banking more boring again. We should take it now.

Many legacy health care systems and hospitals were already in dire shape before the coronavirus turned them on their heads. Hospitals now face a dramatic reduction in revenue and some teeter on the verge of bankruptcy.

Reinventing the hospital

Health

Hospitals now face a dramatic reduction in revenue.

We have a wonderful comment from Woody Woodman, and it really could apply to the entire conference. He says we must avoid our historical response to tragedy. Tragedy which is to mobilize an attack quickly and all for one. And then everything comes down in normal returns. We can't do this after this pandemic. We must stay focused and remain collaborative. How do we do that? Well, you want to check that? One of the I think that, quite frankly, is one of the sort of the silver linings of what we've seen with this crisis, Uh, particularly the Children's hospital space. We've seen the level of collaboration, uh, heretofore unseen, Uh, that the amount of, uh, sharing of better practices real time. I think the other outcome of this crisis is just the idea of speed. We've been able to really stand up some capabilities that we would have said were impossible just 12 weeks ago. So I think that level of collaboration is a part of a genie that we don't want to go back into the bottle. Oh, So, Cliff, could I could I take that one for a sec, please? Um, I think that the opportunity is, um, to get comfortable with the whole friend of any relationship. Other industries recognize that, um, an organization is both going to compete and collaborate, Um, with another organization. Often simultaneously, we have a competitive system here in town. We have co branded our drive up testing sites. We've actually made sure that there's no redundancy. Um, we share PPE numbers were load leveling between systems at this point. Um, and we've harmonized all our clinical trials so that, um, people have consistent criteria for being admitted to them. I think that's fantastic. I think that, um, we will compete in the future in certain areas. But I'd love to continue to see this little but work. So it's hospitals frenemies, a love story. We're going to start to see more and more

Bankruptcy doesn’t mean a business is shutting its doors

Retail

a company is seeking bankruptcy protection. What it really is doing is looking for some breathing room to fix the finances, fix its core business and also, uh, protect itself from claims from its creditors. While it tends to do that, the most common type of bankruptcy filing is Chapter 11 Big business anyway, because the assumption is generally that a business can be salvaged and it's usually the first step. There are other options as well. If a company's restructuring or it's attempted to turn around, don't work out. But Chapter 11 is almost always the first step. Companies of any size can use bankruptcy protection under the law, but typically, smaller companies are more likely to go out of business directly simply because they have less wherewithal for protracted battles with creditors, Uh, and also the legal fees that all this entails. Now J. Crew is reportedly set to file for bankruptcy. Neiman Marcus filed for bankruptcy today. The main reason for filing for bankruptcy protection is, uh, you think you can turn your business around, but you are choking on death. Um, and you just need to restructure the death. We saw that in the cases of J. Crew and Neiman Marcus, and in both cases, the lenders were turned into the owners of the company, so that lowers their debt loads. You also need to protect some of your core assets from creditors while you're trying to fix the business. So that includes things like having cash to pay your employees to pay your vendors. Uh, so above all, the idea is to give you a fresh start. And in fact, that's what Chapter 11 was designed for. There's nothing that prevents the company from filing for bankruptcy multiple times. And in fact, there's even a term slightly cheeky term in in the bankruptcy law World called Chapter 22 filing. And that's when a company has the dubious distinction of having filed twice for Chapter 11. The most common misperception about bankruptcy is that that simply means the companies going out of business. And it does not. Typically, it just means it's going to go into a phase where it's going to restructure its debt and his ownership and try to do a turnaround. So bankruptcy does not necessarily equal going out of business, although oftentimes a company that has sought bankruptcy protection, Um, if you can't make a go of it will end up liquidating later. Already, in the first part of 2020 we've seen quite a number of retail and consumer goods. Chapter 11 filings. You've seen models you've seen to religion Pier one, Neiman Marcus, J. Crew. And there are quite a few others that are likely to happen this year, according to, uh, bankruptcy lawyers, even though Chapter 11 is designed to give a company a fresh start. Oftentimes retailers can't make a go of it because there were other fundamental problems beyond their capital structure and their debt levels. But once in a while, you do see a brand live on. For example, Janie and Jack, which was part of Gymboree, was bought by Gap Inc in 2019. You also have companies like authentic brands that will buy intellectual property. They bought the Barneys New York trademark, and now we should expect to see a few Barneys New York boutiques inside Saks Fifth Avenue stores so brands can live on whether or not the operating companies that owned them, too mhm, mhm

[ MUSIC ] [ MUSIC ] [ MUSIC ] Utility companies are responsible for damages caused by fires sparked by their equipment, even if the company isn't found negligent. Now, the company faces $ 30 billion in liability costs. And that number doesn't include penalties, fines, or punitive damages. PG & E says it only has $ 1. 5 billion in cash. [ MUSIC ]

PG&E Will File for Bankruptcy

It faces $30 billion in liability costs related to wildfires.


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