Tapped to Sit on Fed Board, Herman Cain Straddles Fence Between Business Success and Political Controversy

Perhaps no other black business person stirs up more polarizing debate than Herman Cain. The former head of Godfather’s Pizza, stepped into the political limelight in 2011 when he announced his candidacy as the Republican presidential nominee. That effort was thwarted by a series of sexual harassment allegations against Cain. Yet, he has re-emerged on the national stage as a proposed pick by President Trump to sit on the Federal Reserve Board. A success in business, yet, a failure in politics—is now the time for Herman Cain to rise to political prominence?

Herman Cain’s Business Backstory

Cain was named president of the then-failing Godfather’s Pizza chain in 1986. In an article from Black Enterprise in 1988 on Cain: “Fresh from rejuvenating Pillsbury’s Burger King chain in the Philadelphia region, the energetic, enthusiastic new president of Godfather’s went immediately to work closing weak outlets, strengthening the company’s advertising thrust, repairing relations with franchisees and swiftly resolving legal conflicts.”

Herman Cain

Black Enterprise Magazine

Without question, Cain has proven he possesses sharp business acumen. Under his leadership, Godfather’s Pizza saw a reversal in sales decline and generated $ 260 million in sales.

He demonstrated business savvy early on. The Morehouse College graduate served a short period in the Navy and then went on to complete a master’s degree in Computer Science at Purdue University. His first corporate position was as a business analyst at Coca-Cola.

Cain’s business talents came to light during his next gig at Pillsbury where he advanced to vice president status within five years.

Entrepreneurial Mindset

Although he quickly ascended the corporate ladder, Cain also had an entrepreneurial spirit. He set his sights on the fast food business—even becoming a member of a Burger King kitchen crew to learn the ins and outs of the hamburger business. Within seven months, he was promoted to regional vice president.

“You’ve got to have a passion for that business, followed by a desire to make it to the top,” he said in an interview with Black Enterprise in 1988. “Then you will do whatever you need to do in order to get there.”

He eventually bought the Godfather’s Pizza chain from its parent company, Pillsbury for an estimated $ 50 million. The transaction was the first leveraged buyout of a major fast-food company by a black executive in business history.

Political Ambitions

Cain’s political ambitions were made clear when he ran as a Republican presidential nominee. Plagued by scandal, his campaign fell flat—perhaps one of the rare failures for the businessman.

Now, with the blessings of Donald Trump, it seems that Cain is poised to assume a prominent political and economic position at the Federal Reserve. How likely is his appointment and is he the person for the job?

No, says Catherine Rampell, a columnist for The Washington Post. And it isn’t just about the troubling sexual harassment allegations that took down his presidential run, she says.

“When it comes to understanding pretty basic policy issues, Cain isn’t able,” writes Rampell.

“Most people who remember anything about Cain’s brief political career might know him for the “9-9-9” tax rate plan. Unfortunately, neither did that plan have rates that were actually 9 percent nor did it turn out to be particularly strong in its arithmetic,” she continues.

A fellow Republican, Sen. Mitt Romney, also cast doubt about Cain’s fitness for the Fed. “I doubt that will be a nomination. But if it were a nomination, you can bet [what] the interest rates he would be pushing for,” Romney said in an interview.

“If Herman Cain were on the Fed, you’d know the interest rate would soon be 9-9-9.”

Some Republicans are more optimistic. Sen. David Perdue, a Georgia Republican, said about Cain; “He’s a business guy. He’s got a great background for it. I know him personally. I think personally he’d be a great addition,” according to Fortune.

Cain’s businesses successes have seemed to elude his success in politics. Is his appointment a serious consideration or another one of the mercurial President’s whims? And if appointed to the Fed, how effective can he be? That all remains to be seen.

Related: THE BLACK CONSERVATIVE WOMAN IN THE RUNNING TO LEAD MICHIGAN’S REPUBLICAN PARTY

 

The post Tapped to Sit on Fed Board, Herman Cain Straddles Fence Between Business Success and Political Controversy appeared first on Black Enterprise.

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Etiquette: Fence Construction and Your Neighbors

Photo Source: Fence Pro

It can be a pain dealing with neighbors and property line issues. Whether it’s a fence, deck or other structure, people can get a little touchy when it comes to their property. Knowing this, we can avoid the awkwardness and potential miscommunication at the onset of any project if we stick to a few simple guidelines.

Respect all lot lines:

This is the most common hiccup between neighbors. It’s understandable that we want to be sure we are protecting our property. In a lot of cases, there are property bars installed that mark the perimeter of Ontario properties. Another source of clarification is lot drawings provided by either the city or builder. The important part of this stage is communicating with the affected neighbor. In my 20 years working in residential construction, the biggest asset in this respect is a willingness to communicate openly about the proposed project.

Follow local building bylaws:

Fence heights and specification allowances can
vary from city to city. As such, it’s imperative to know the local codes. If
these codes are breached, the project may be derailed because of a lack of
foresight. The only way it is legal to build outside of code is through a
variance application at your local city hall. If all attempts at fruitful communication
have failed, the Line Fences Act
works as a mechanism for dispute resolution.

Plan the work and work the plan:

Photo Source: Fence Pro

Planning the work to be carried out is vital to having a successful project. It also provides a tool to manage expectations in the building process. Often, your fence contractor can act as a bridge to successful communication because of their experience in the industry. Generally speaking, if people are kept in the loop, all goes well.

Let the neighbor choose:

If your project has the opportunity for a preferred aesthetic, it’s a good time to show your good faith by letting your neighbor make their choice first. This will encourage good feelings and also foster a feeling of inclusion. Let’s try and remember that we have to live beside each other and honey attracts more bees than vinegar does.

In the end, it’s all
about communication. If we stay open and authentic about our plans, we can
generally anticipate a pleasant outcome. In the unfortunate circumstance that
you cannot come to a mutually agreed upon plan of action, there is always the
legislation to refer to.

For more advice or answers to your deck building questions, contact Fence Pro at www.fencepro.ca 905.922.4776

The post Etiquette: Fence Construction and Your Neighbors appeared first on Home Trends Magazine.

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