After their success with the iPod, Apple launched a new product that they dubbed the iPhone in 2007. Apple launched it on the AT&T 2G network without the app store which wouldn't arrive until 2008.
A 10 year-old DVD rental company named Netflix offered a new service called “streaming video” that promised to deliver a massive catalog of television and movie content to customers over the Internet to home computers instead of waiting for the mail.
In March of 2007, Kevin and I opened LeConte Wealth Management after working together for five years in a local bank investment department. We built a solid friendship before we built our business partnership.
Our friendship was founded on trust and respect for the character that our families had instilled in us. We encouraged each other on good days and not so good days. Clients always came first even when our sales manager pushed us to increase production. We enjoyed our work and how it benefited our clients, many of whom were (and are) family and friends.
We had a few simple goals when we started LeConte. We wanted to create a firm that was independent of conflicts and outside influences that are typical in the investment industry. We wanted to create a business culture of skilled, honest practitioners who worked together to help clients. We wanted the freedom to pursue a healthy balance between work and our family life.
The circumstance surrounding a predawn drive into Knoxville on Wednesday morning forced my mind out of neutral. My typical morning commute is short and uneventful. Wednesday was anything but. I was on the road by 6:15 with my wife and 18-year-old daughter in the car with me. We were scheduled to arrive at East Tennessee Children’s Hospital for a medical procedure later that morning.
A few days earlier I was shaking my head as I stood in the driveway beside my daughter's car. She attempted an explanation for the mangled front rim and rubber shrapnel hanging from it but I wasn’t convinced. She assured me that it was just a low-speed brush against a parking lot curb and promised to be more careful.
As I examined the car, I explained to her that my frustration wasn't over repairing the damage (which was minimal). As fathers are prone to, my perspective went to where she was heading in the next 6 months. After graduating high school this spring she will be trekking 3 hours down the highway to attend Belmont University this fall. In my mind, her inability to navigate safely around stationary curbs in a parking lot could turn into a life or death situation at 70 plus miles per hour during a fast-paced interstate commute. She understood my concerns and attempted to reassure me with a wry smile (that usually works).
The Federal Reserve Board of Governors consists of 7 positions filled by appointment. President Trump already has two vacant seats that need to be filled. Over the next 18 months he may need to fill another 2 or 3 seats. His ability to recast the Fed may have more immediate impact on the country than his Supreme Court picks.
Trump needs to pick someone with real world, problem solving experience:
Instead of the jokers that have been running the show:
It is preferable to find someone who will bring balance to their thought process and deliberations: