Louis Chenevert Still Talks about United Technologies Corporation

Is it harder for the professional to let go or the fans? If evidence has proven one thing, it’s that people have a hard time letting go after a genius decides to call it quits. This is something that Louis Chenevert lives with every day since retiring from United Technologies Corporation.

There’s no question that Chenevert achieved his greatest success working for UTC, but he stopped working for that company in 2014. It wasn’t the first company he ever worked for and it wasn’t the last. Despite his career history and advancements, interviewers still want to ask about UTC.

Being the nice man that he is, Chenevert happily answers their questions because he loved working for UTC. His first job wasn’t the happiest one, but it taught him the necessary skills he needed to one day lead UTC. He began his career as a Production General Manager at General Motors.

As much as he didn’t like working at General Motors at first, he stayed with them to work his way up the corporate ladder. After 14 years, he left GM and started working at Pratt & Whitney. He worked there for a while but nothing interested happened.

After he left Pratt and Whitney, he started working at United Technologies Corporation. There, he achieved more success as CEO than any other CEO who ever led the company. He accomplished some tremendous things running UTC. All of his success came from his focus and dedication to producing better products.

Not only was he focused on making better products; he was focused on making acquisitions that would better the company. Everything he did, he did for the greater good of UTC. The most important part of his strategy was focusing all of the teams on operational talent and engineering.

As in any technology-based industry, engineering and operations are important. When teams unanimously focus on those key elements, they can produce the most groundbreaking products in the world, far exceeding any customer’s expectations.


Kerrisdale Capital Releases Negative Report on Proteostasis Therapeutics, Inc.

Sahm Adrangi’s company, Kerrisdale Capital, released a unfavorable report on some of the recent findings of the Proteostasis Therapeutics, Inc. company. Proteostasis Therapeutics, Inc. (PTI) is a biopharmaceutical company that works to develop new drugs and test them clinically. PTI’s lead drug in development is called PTI-428. This drug is intended to treat the effects of cystic fibrosis by boosting the messenger RNA and proteins to the CFTR gene that is believed to cause these debilitating effects, effects which are eventually fatal.

In December, PTI released results from a trial that seemed to show the drug was working. The stock market responded to these findings with approximately a 100% jump in the company’s stock prices. The FDA even granted the drug a “breakthrough therapy” designation based on the report. Sahm Adrangi’s firm decided to take a closer look at the results of the trial. The trial seemed to show the effectiveness of the drug when it compared the test group and a placebo/control group. The report released by Sahm Adrangi’s firm, Kerrisdale Capital, said that the the test group didn’t exactly do unusually well, but that rather the control group under-performed. When compared to proper benchmarks, the drug actually had little to no effect. The unbalanced report issued by PTI is Phase 2 of testing. Their Phase 1 report showed much the same that Kerrisdale Capital found: no statistically-proven improvement.

Sahm Adrangi founded Kerrisdale Capital in 2009 and remains its Chief Financial Officer. In the past, his firm has exposed fraudulent findings from several Chinese medical companies. Sahm Adrangi’s reports have to lead to those companies receiving enforcement actions from the Securities and Exchange Commission.

Sahm Adrangi’s report concerning PTI said the company had “little value” and that there was a 70% – 90% downside to purchasing their stock. As seen with other companies in the past, PTI may become subject to enforcement and loss of stock value due to Kerrisdale Capital taking a second look.


Dr. Vijay Eswaran Shares Secrets of Success

Dr. Vijay Eswaran, founder and Executive Chairman of the QI Group of Companies, is the head of various business conglomerates with a presence in multiple sectors including direct selling, retail, financial services, and hospitality as well as education.

Dr. Eswaran’s flagship, CNET, was established in 1998 and is an international corporation. Through expert leadership, his businesses have merged traditional methods of sales with the e-commerce model.

“What I wanted was a new kind of business to merge the people power of direct sales with the Internet’s global reach,” Dr. Eswaran told Entrepreneur Magazine recently in a featured article. Dr. Eswaran remembers the beginnings of his business, “We merged the best and tested directing sales techniques with e-commerce.”

The path wasn’t always easy. “My partners and I argued endless about what we should sell to set us apart from the rest,” e added. “We decided on numismatics and precious metals models built using flourishing European market strategies.”

Dr.Vijay Eswaran obtained the rights to market the commemorative coins in time for the Sydney 2000 Olympics. Despite arriving late in the process, of the 42 global distributors, e finished in the top three regarding sales volume. “What the rest had not understood was the penetration of web-based sales combined with the human touch,” Dr. Eswaran explained.

When Dr. Eswaran first began, nothing was easy. “I had no connections, no funding and Asia was undergoing a terrible economic crisis. No one believed I could succeed,” Dr. Eswaran explains. “What I had was the conviction my life was not meant to be thrown away earning money for someone else.”

Dr. Eswaran found like-minded partners and enjoyed his wife’s unyielding support. Together, they faced failures and setbacks, but Dr. Eswaran sees that as a positive: “The day I don’t face problems, it means the business isn’t growing.”

Dr. Eswaran’s entrepreneurial path began by having to overcome what he calls ‘perception challenges.’ Despite owning one of the Top 40 groups in the industry, Dr. Eswaran finds many people don’t understand the business.

“To me, successes are interwoven with challenges. I deal with challenges by embracing them,” Dr. Eswaran said.