There are only a handful of individuals who make their mark in the business world. The chances that an entrepreneur will become successful in their professional lifetime is very low. One such Canadian-based entrepreneur has made his mark in the business world. The story of Louis Chenevert is highlighted in a recent article by Brian Harris in Releasefact.com. We will recap the article below and we will focus primarily on his time at UTC.
Louis Chenevert was born in Montréal, Québec in 1958. Louis attended college at the University of Montréal and majored in Production Management. At college, he attended the HEC Montréal Business School. Louis got his first big break in the business world at General Motors (GM) in Québec. After spending 14 years at GM, Louis was influenced to enter the aerospace industry under the advice of another GM colleague by the name of Karl Krapek and he later joined Pratt and Whitney Canada (PWC) in 1993. He later became president in 1999.
Louis counterpart, Karl Krapek, was CEO of United Technologies Corporation (UTC) from 1999 to 2002. UTC was the umbrella company for PWC. UTC later found much potential with Louis and that led to Louis being Director of UTC in 2006. UTC also specialized in other products such as: security systems, HVAC systems, and airplane engines. Louis led the efforts to promote the GTF engine that would impact the airline industry. Under Louis’ direction, the GTF engine market was put back in the right direction and made PWS relevant again. In 2008, Louis was named President of UTC. Louis made significant changes upon his tenure as President. He moved UTC’s manufacturing back home instead of overseas. One other key goal under Louis’ watch was obtaining a U.S. Navy contract to work on the F135 aircraft engine. With these moves, UTC’s stock soared and eventually UTC was sold to the Goodrich Corporation.
Louis retired from UTC in 2014 and continued his education where he was honored for his contributions to the aerospace industry. As you can see, Louis has definitely made his mark as a true entrepreneur!
It takes a special kind of person to say that the economy is headed in the wrong direction when the stock market continues to climb to record highs. You are talking about a person who is not afraid to put his or her reputation on the line. That is exactly the kind of person that Shervin Pishevar really is though.
Shervin Pishevar has already put his reputation on the line when he made a series of early investments in AirBnb. It was not a conventional investment at the time. There was a lot of risk involved. Still, Shervin Pishevar saw this as a golden opportunity to make some money on his money and he took it. That paid off well for him.
These days Shervin Pishevar spends more time talking to the public on Twitter than he does worrying about uncovering the next big thing. He still spends a fair amount of time doing both to be honest. However, the tweets are what has grabbed the attention of people as of late.
Pishevar had been absent from Twitter for some time when he hopped back on with some ideas about the stock market. He called for a twenty percent reduction in prices across all of the major indices in the near future. He says that they need to come off at least that much to get anywhere close to being at fair value. Even at those prices there may be some more room to drop, but Pishevar would take those prices as a start.
Adding on to his thoughts on these subjects is the fact that Pishevar believes firmly that the price of Bitcoin is also too high. He would like to see a pullback in those prices because he feels that people have gotten too excited about the value of Bitcoin as well in recent years. He wants people to have excitement about investing to be sure, but he wants them to be excited about the right kinds of investments. Unfortunately, he does not see Bitcoin as something that falls into that category.
Not everyone agrees with everything that this man has to say. Still, he is a voice worth considering when the topic is investing or economics. He has done a fair bit of work in his personal life to prove that he has some knowledge on these topics.