We had our Zoom meeting on the economy on Tuesday, June 9. John Finnerty, Colin Brown, and Jack Sands hosted a one-hour meeting entitled: Covid 19’s Impact on our Economy. John, Colin, and Jack discussed Covid 19’s effect on our economy from a macro level, from a manufacturer and auto seller’s perspective, and from pro sports/entertainment point of view. Our panel had thoughts on all these issues including: what the federal government has done and needs to do, what changes are necessary to make the workplace safe in manufacturing and office space , and what will pro sports look like for us throughout the remainder of 2020 and beyond. Their impressive bios are attached below.
John Finnerty has shared his presentation with us, and Colin has given us a video of a how a Toyota plant in Texas handled re-opening.
About out panel:
John Finnerty is Managing Principal of Finnerty Economic Consulting and an Academic Affiliate of Alix Partners. He specializes in securities litigation and valuation. He developed the average-strike put option model for calculating the discount for lack of marketability and innovative models for valuing employee stock options, convertible debt, venture capital preferred stock, common stock of emerging growth firms, private equity carried interests, and inflation-indexed bonds.
John has been Professor of Finance at Fordham University’s Gabelli School of Business since 1987 where he was the founding Director of the Master of Science in Quantitative Finance Program. He has written 16 books and more than 120 articles. He is a former editor of Financial Management and FMA Online. John received a Ph.D. in Operations Research from Naval Postgraduate School, and an M.A. in Economics from Cambridge University. John was inducted into the Fixed Income Analysts Society Hall of Fame in 2011.
Colin Brown now serves as Chairman of the Board of JM Family Enterprises (JM) after serving 16 years as JM’s CEO. JM is Toyota’s largest customer in the world selling 500,000 Toyotas through 177 independent Toyota dealers in the 5 Southeastern states in the US. JM and its affiliates engage in every aspect of the automobile business except manufacturing including distribution, sales, service, and financing (e.g. originated 216,000 loans and leases in 2019). Colin graduated from Duke Law School in 1974. After practicing on Wall Street, Colin served as General Counsel for 2 Fortune 500 firms before joining JM as GC in 1992. He later worked as JM’s COO for 5 years before becoming CEO.
Jack Sands has represented athletes from all four major sports over the last forty years, but is best known for his representation of Major League Baseball players. Among the many players Sands has negotiated on behalf with every Major League club, five have been elected to the Baseball Hall of Fame: Boston Red Sox Carlton Fisk, St. Louis Cardinals Ozzie Smith, Chicago White Sox Harold Baines, Oakland Dennis Eckersley, and manager Tony LaRussa. In 1993 Jack co-authored the book “Coming Apart at the Seams” with ESPN commentator Peter Gammons. Jack is a founding member and former director of the Sports Lawyers Association of America.
Please stay safe and anyone staying with you is welcome to watch along with you.
Steve Brown