Louis Chenevert, the Committed Company President

When current United Technologies CEO was asked what he wanted his legacy to be by an employee, the answer was that he wanted his legacy to be at UTC. The reason behind this was the belief that effective CEOs are stewards of the company. This means to make the commitment to invest in innovation and the people in the company. At UTC, this means keeping an eye on the long term, to always invest in technology and the employees. It also means realizing the decisions made now will affect future achievements.

One example of the cause and effect is the Pratt & Whitney Geared Turbofan engine that was recently displayed on Capitol Hill. The engine was a 20-year investment in design and development of the jet engine costing $10 billion. The development of the engine reduces fuel burn by 16%, noise by 75% and emissions by 50%. This engine began being used in the past year and is used by 14 airlines and mounted in 72 planes.

The company has factories in at least six states and currently can meet the demands of current and future customers. The demand increases the need to invest in future talent. UTC is estimated to hire 25,000 people in the US with 5,000 new positions in the area of growth in innovation platforms. In part, it is due to the growth of the business but also the business of their suppliers since it will ensure keeping commitments to the company’s customers. During the past three years, the company has spent about $40 billion with U.S. suppliers.

Louis Chenevert served as the Chairman and CEO of United Technology Corporation. Earlier in his career, he served as president of Pratt & Whitney from 1999 to 2006. Mr. Chenevert also spent 14 years at General Motors as Production General Manager of GM. He serves as chairman of the Yale Cancer Center’s Advisory Board, he is on the board of directors for Cargill and a member of Executive Committees of the Business Roundtable.

As a Quebec native, Mr. Chenevert earned a bachelor of commerce degree in production management from HEC Montreal an affiliate of the University of Montreal Business School.

See Chenevert speak here:

Middle and Low-Income Earners Can Also Invest Successfully

To invest successfully, you need more than a hunch. It requires refraining from putting all eggs in one basket – the stock market, working with trustworthy fund managers and knowing why you are investing.

Is Investing for the Chosen Few?

It does not matter which side you are on – the privileged elite making up only 1% or the 99% comprising non-accredited members from the middle class. Anyone can build a fortune company.

Despite the restrictive accreditation laws that have most middle-class folks under a spell of debt and financial insecurity, there are other unconventional ways to invest.

Where to Invest

One of the places is Forefront Income Trust initiative, founded by Brad Reifler. Brad, the efficacious American entrepreneur has been on top of his game right from the start.

Brad Reifler

After acquiring a degree in Economics and Political Science from Bowdoin College, Reifler founded Reifler Trading Corporation in 1982. Their mainstay was global derivatives.

Sky is The Limit

Despite his freshness in the industry, he managed to carve out a niche for himself. By the time he sold Reifler Trading Corporation to Refco, it was a decent fortune company.

After that, he founded Pali Capital where he recorded great success. As chairman and CEO, it only took him 13 years to steer the company to $200 million profits, and this was coupled with expansion in the UK, Australia, and the US.

From Grass to Glass Ceiling

Unlike most famous entrepreneurs, Reifler has a soft spot for the middle and lower classes. He constantly encourages them to save for the future.

The Importance of Saving

He did not do it himself, plus he suffered setbacks of saving in the wrong places, but his father-in-law gave him his thirty-five years’ worth of life savings to invest. The old man was not wealthy, but from his RV repair shop, he saved the capital that his genius son-in-law turned into great wealth.

Reifler managed to make solid gains out of his father-in-law’s gift because he knew how to keep his losses at a minimum, how to avoid common pitfalls, and he had mastered the principles of investing.

Despite understanding middle-class investors’ limitations, Reifler says, “Everybody can get involved in the world of investing“. There is no excuse for not saving or investing.