Frank Coulson - A Man Who Truly Made A Difference

Last Friday I was travelling home from New York City and started a conversation with the man sitting next to me. In short order we figured out that he was a good friend of the daughter of a dear friend of ours. A few minutes later another connection was made. A colleague travelling with him used to work at Goldman Sachs in the Philadelphia office. In chatting with this gentleman the conversation quickly went to someone I knew we both knew well from that office, Frank Coulson.

Frank was a partner in the fixed income division and a truly legendary bond salesman. I told my new friend that I would very likely not be on this plane, not be doing what I am doing now, if it were not for Frank Coulson. I went on to tell him the story about the largest single trade I ever did as a mortgage backed bond trader at Goldman, and that trade was with Frank. The story of that trade is forever captured in the book “More Than 85 Broads: Women Making Career Choices, Taking Risks, and Defining Success on Their Own Terms.”

The story contrasts how two men treated a young woman (me) on the trading floor one particular day, doing her best to be the best trader she could be. Frank was the hero of the story. Frank was the hero because on that day he trusted me, despite my inexperience, to execute a huge trade for his best client when he could have easily gone over my head. That day, that trade, that TRUST truly changed my life. It was that day I realized I could survive and maybe even thrive as a Wall Street Trader.

After sharing that story I went back to my seat, grabbed my journal and started writing about Frank. Today I heard that Frank Coulson passed away. My deepest condolences go to Frank’s family. He was a spectacular man and I am grateful to have known and worked with him. He really did change my life.

Jennifer Buffet and Women Moving Millions

(From www.jackizehner.com November 13th)

I have the honor and pleasure of knowing and working with one of the most noteable women philanthropists of our time, Jennifer Buffet, President of the Novo Foundation. Today I am off to Washington, DC, where I am Co Chairing a Women Moving Millions event with her and the equally fabulous Ambassador Swanee Hunt, President of The Hunt Alternatives Fund. This is our final event of the year and it promised to be amazing. Guest speakers include Former Speaker Nancy Pelosi, Congresswoman Nan Hayworth, Treasure of the United States Rosie Rios, Senator Kirsten Gillibrand, Congresswoman Donna Edwards, Barbara Lee - Founder and President of the Barbara Lee Family Foundation and many more.

We are focussing on three main topic and issue areas: Advocacy - what it is and how to do it, Women Stopping War and Economic Security Through a Gender Lens. I will be sure to report back.

A fabulous friend and philanthropic consultant Tuti Scott ( of Imagine Philantrhopy) shared this with me yesterday about Jennifer. Very much worth sharing. Jennifer we love you and appreciate all you do to make the world a better place.

Jennifer Buffett – 10 Concepts worth Sharing

By Tuti B. Scott ( Imagine Philanthropy)

Jennifer Buffett will change the world. You may not know her now, but when all is said and done I believe she will own the title, The First Lady of Women’s Social Change Philanthropy. Jennifer is the life size symbol of NoVo – to alter, invent. The NoVo Foundation she created with her husband Peter is based on the premise that if you give a girl an opportunity, she will become a successful woman who will in turn create successful communities, businesses, and families. Jennifer’s story is just that.

After deep examination of the focus of their philanthropy and a personal examination of her own expression of her values and influence, Jennifer is speaking around the world sharing her personal story and experiences. She and her husband Peter spent years examining the interrelation between systems, culture, and relationships to determine place of impact and opportunity for change before launching the largest foundation serving women and girls, the NoVo Foundation. Jennifer has incredible perspective to offer activists, social change drivers, and philanthropists and after hearing her recently, I distilled these ten concepts that are worth sharing;

1. Look at the roots of the problems, examine patterns and themes and find the programs and the stories that rule the world and which ones make sense.

2. Acknowledge two conflicting truths: 1. Girls and women are the primary drivers of change. 2. Cultural attitudes and systems put girls in a vicious cycle; blaming them and affirming that they are not valued. The girl effect demonstrates that if you invest in a girl, her family thrives, she contributes to her community, and eventually her country succeeds.

3. Invest in places where value is held and not yet recognized. Note: there are 600 million adolescent girls living in the developing world who are currently ‘undervalued assets’.

4. Value balance and partnership and affirm feminine values.

5. Encourage women to use their voice, say what is want and needed, take credit, and invite men to join as equal partners and co-creators.

6. As a woman, choose to be seen and heard and work to change the course of the boat named Earth Community.

7. Improve gender dynamics by recognizing that the qualities in the masculine ‘toolbox’ - force, hierarchy, punitive, and a focus on head not heart - are learned, normalized, and internalized.

8. Honor and showcase the characteristics found in the feminine toolbox; listening, connectedness, experiential learning, honoring innate cycles and rhythms, and wholeness.

9. Establish learning environments that allow for inquiry and participation.

10. As conduits of feminine energies, allow the most precious qualities of clarity, strength, knowing and vulnerability of yourself to come into full light.

Thank you Tuti. Well said.

( Pictured with Linda Basch - President of the National Council for Research on Women, Jennifer Buffet, Lisa Witter - Partner, Fenton Communications and author of "The She Spot", yours truly)

Evelyn Lauder - Honoring a True Wonder Woman

On November 12th the world lost a very special woman and one of the leading philanthropists of our time, Evelyn Lauder. The cause of her death, at the age of 75, were complications of non-genetic ovarian cancer. She is survived by her beloved family: husband Leonard A. Lauder, her two sons Willian and Gary and five grandchildren. Though I could not attend the funeral as I was at a Women Moving Millions event in Washington, my thoughts and prayers were with her family. This week, while in New York City, I did have the opportunity to meet with Myra Biblowit, the magnificent President of the Breast Cancer Research Foundation. I left the BCRF board last year when I moved to Park City, but what an honor and a privilege it was to serve on it alongside Myra and Mrs. Lauder.

Mrs. Lauder’s life is a remarkable American success story. Born in Vienna, Austria, her parents fled from Europe with her during the Nazi occupation, eventually settling in New York City. Asleep when the ship bringing them to the United States arrived in New York Harbor, she awoke to see the Statue of Liberty. Mrs. Lauder would remember, and be inspired by, that symbol of hope for the rest of her life.

Mrs. Lauder was a philanthropic leader in New York City. She served on the Board of Overseers atMemorial Sloan-Kettering Cancer Center and on the boards of the Central Park Conservancy and the Evelyn and Leonard Lauder Foundation. Many other charities also benefited from Mrs. Lauder’s thoughtful guidance and renowned generosity, including nonprofits devoted to health and human services, education and inner-city schools, the environment, women’s causes, and the arts.

The public perhaps best knew Mrs. Lauder for her work in bringing global awareness to women’s health, a passion that stemmed from a personal experience with early stage breast cancer. In 1992, she co-created the Pink Ribbon, now recognized as the worldwide symbol of breast health, and launched the Estée Lauder Companies Breast Cancer Awareness (BCA) Campaign (www.bcacampaign.com). Each year, the BCA Campaign raises funds through its brands, employees, and retail partners around the world to help support breast cancer research. Mrs. Lauder founded The Breast Cancer Research Foundation (BCRF) in 1993 to provide crucial funds to breast cancer medical and scientific researchers around the world. BCRF (www.bcrfcure.org) has raised more than $350 million and supports 186 researchers globally. She believed wholeheartedly the the prevention and cure for breast cancer resides in funding innovative research.

I would be hard pressed to name a woman who more fully used her resources - her money, her heart, her corporate affiliation, her business savvy, her network, her time - to make a difference in the lives of others. She boldly stepped out in front to be a leader in this movement to find a cure for all kinds of cancers. After sharing many stories about Mrs. Lauder over coffee at the Palace Diner on 57th street with Myra we ended thinking that "so many have great ideas, but only a small percent act on them, and an even smaller percentage result in sustainable action." Without Mrs. Lauder there would be no pink ribbon, their would be no BCRF, and the movement to end breast cancer would not be one of the most well funded movements of our time.

In lieu of flowers, the family has asked that contributions be made to The Breast Cancer Research Foundation, Evelyn Lauder Founder’s Fund, 60 E. 56 St., 8th floor, New York, NY 10022, or www.bcrfcure.org . Please consider a donation. Blessings...............

Koinonia and a "Luv-o-lu-tion"

Koinonia. Up until this morning I had never heard of this word. It is a greek word that appears in the bible which in translation means deep fellowship. Not fellowship as in “let’s hang out at the bowling alley together,” but rather fellowship as in “I will lay down my life down for you.” It means caring so much about the relationship that it leads to a profound shift in both attitudes and behavior.

Who are you in Koinonia with? God? Your spouse? Your kids? Your friends? Think about what it would mean to our world if we were in Koinonia with everyone. The world is in deep need. People are in deep need. Maybe you are in deep need. The solution to need is easy in principle, but hard in action. The solution is generosity. The solution is a Luv-o-lu-tion. ( noun: A dramatic change in the way love works)

Needless to say I had myself a little church this morning, ( K2 in Salt Lake City to be exact), but this message goes beyond my church. This message goes beyond any church. In a world of injustice and pain and suffering and poverty and us versus them and war and terrorism and “Occupy Wall Street” this is a solution.

My 14 year old son is skeptical. Though he admits we should all try to do something good, to be good, he feels it will not collectively make a difference. I respectfully disagree. If we all “ do what we can with what we have where we are” it will make a huge difference. For me giving up on each other is really not an option. Feeling insignificant is not an option. I aspire to live a generous life which my pastor put this way:
- Take time to acknowledge all you have. Give thanks and live in that “attitude of gratitude.”
- Once you have given thanks, no matter how much or how little, but especially if how much, release your grip on it. We are stewards not owners.
- Try to live in “Koinonia.” Live in fellowship and love with one another and be as generous as you can be to each other. Respond to those in need. “Do what you can……

I am sharing this not as a teacher, but as a student. I am not as generous as I can be. I am not as kind as I can be. I am not alot of things I want to be but I can promise you I wake up every day and try. Greed and fear and privilege and entitlement are demons I reckon with ever day. For me, it will be my love and relationship with God that helps loosen their grip.

May you have a blessed day.

We sang the song “I Will Follow You” by Chris Tomlin at church today. It is one of my favorite gospel tunes. If you want to listen click here.

Senator Kirsten Gillibrand and Women's Economic Empowerment

After previously serving in the House of Representatives since 2006, Kirsten Gillibrand was sworn in as Hillary Clinton’s replacement as New York State Senator in January 2009, and was later re-elected in November 2010 with 63% of the vote. Since her days as a lawyer taking on pro bono cases defending battered women, to working with Hillary Clinton to encourage women to enter politics and leadership, Gillibrand has always taken a strong stance towards the advancement of women and girls.

Gillibrand was formerly the leader of the Women’s Leadership Forum, and now as Senator, she has launched www.offthesidelines.org, a non-profit organization dedicated to helping women realize the potential impact they can have on our country. Whether it is through political office, advocacy, or by simply taking a more active role in their community, Off the Sidelines provides women with the resources needed to make their voices heard.

Yesterday, Gillibrand’s office released Women’s Economic Empowerment Summit, a research paper highlighting the economic plight of women in America, and how women can be utilized to help improve our nation’s economy. The full paper can be downloaded at http://gillibrand.senate.gov/ and it is full of some very sobering statistics, reminding us all that there is still so much work to be done to level the economic playing field between women and men.

You can also find this research paper in the resources section of this website. We’ve recently expanded and updated this section to include literally hundreds of research papers, articles, books and websites, as well as fact sheets for various women’s issues. Check back to this section often, as we are continuously updating as new information becomes available.

written by Laura Moore (the incredible cousin of Jacki Zehner)

Philanthropy is commonly known as the act of giving away money to charitable causes. But for those who are lucky enough to pursue philanthropy full time, it is a well known fact that philanthropy is a much more involved process than simply writing a cheque. It is a deeply personal process that forces donors to ask themselves: “What cause am I most passionate about?” and “How can I make a difference?” To the uninitiated, this can be a daunting task, and that’s why The Bridgespan Group has launched www.givesmart.org, a website designed to help donors make the most of their philanthropic gifts.

In addition to the website, a supplementary book titled Give Smart: Philanthropy that Gets Results by Thomas J. Tierney and Joel L. Fleishman has been published to further help guide philanthropic donors in their endeavours. I had the honor of meeting Thomas last week while in San Fransisco. Something he said really resonated with me as it was what I have been feeling. He said that many donors feel that giving of their time and expertise is more important than money. This is not to say that the money is not important, it is very important, but to me money absent the connection to the heart, absent the connection to passion, absent the connection to purpose, risk being transactional and not transformational. Since I have made that connection of passion to purpose to expertise to money, it has made my giving so much more meaningful and I believe, impactful.

Give Smart asks six essential questions:

1) What Are My Values and Beliefs?

2) What is “Success” and How Can It Be Achieved?

3) What Am I Accountable for?

4) What Will It Take To Get The Job Done?

5) How Do I Work With Grantees?

6) Am I Getting Better?

In answering these questions, donors are given the tools needed to start their philanthropic journey, make a difference in the charitable interests about which they are passionate, and hopefully help them to change the world for the better.

Jacki Zehner and Laura Moore

Starting tomorrow, Tuesday October 11th, THIRTEEN, the most watched public television station in the United States, begins the five week series Women, War & Peace. This series comprises of five documentaries that examine the changing roles of women in wartime conflicts, both as casualties of war and as brokers of peace. War has traditionally been defined as a man’s domain, but the changing nature of modern warfare, and the unconventional and constantly evolving battlefields have allowed for women to take on unprecedented capacities in the operation of war.

Some truly inspirational and courageous women are taking the stand to fight for women’s rights in developing countries. From Bosnia to Columbia, Afghanistan to Liberia, women the world over are stepping up to demand justice in countries torn apart by years of insurgency. They are speaking out against the practice of using women as wartime weapons, and the cruelty and inhumane methods deployed against women on the battlefield for centuries.

Women, War & Peace promises to be a groundbreaking series on the topic of women in wartime, and is a television event you do not want to miss. Our foundation is a proud supporter of this and I thank fellow WMMer Abigail Disney and Fina Reticker for their incredible work. You are my SHEROS. Titles and airdates are below; please check your local listings for times.

Tuesday, October 11th – I Came to Testify, narrated by Matt Damon

Tuesday, October 18th – Pray the Devil Back to Hell

Tuesday, October 25th – Peace Unveiled, narrated by Tilda Swinton

Tuesday, November 1st – The War We Are Living, narrated by Alfre Woodard

Tuesday, November 8th – War Redefined, narrated by Geena Davis

For more info, please visit http://www.thirteen.org/wwp/

The Girl Effect

There are currently 600 million adolescent girls in developing countries, and for many of them, their future looks bleak. Countless numbers of them face a life of early marriage and pregnancies, vulnerability to HIV, hunger, poverty, and no ability to provide for their families or even to control the circumstances of their lives.

Faced with this reality, the Nike Foundation and the Novo Foundation started The Girl Effect, a campaign to end the cycle of poverty for women in developing countries. They believe that when you invest in a girl through education, access to health care services, freedom from violence, and access to resources, she can grow into her potential and become an important member of her family, her community, and the world at large. I believe that too.

Today bloggers around the world are celebrating this important initiative. Please watch the video, go to www.girleffect.org to take action, and celebrate the power of our girls to change the world for the better.

Some facts: ( find more in my resource section)

-1.7 billion people in the world earn less than $1 per day
-60% of the working poor in the world are women
-7 out of 10 people going hungry are women and girls
-Two thirds of the world's unpaid work is being done by women, amounting to the equivalent of nearly 50% of the world GDP
-Women earn 5% of the world's income
-Women own 1% of the world's property
-Two thirds of the children who are denied primary education are girls
-75% of illiterate adults are women

A Thelma and Louise 20th Anniversary Celebration

2011 marks the 20^th Anniversary of the release of Thelma and Louise, a film primarily filmed in Utah (my new home state). This past Wednesday Geena Davis came to back our state to participate in a celebration that marks the 10^th anniversay of the Utah Film Center, and to also raise awareness around the work of her foundation, The Geena Davis Institute for Gender in the Media (I serve on it’s advisory board). We had a beautiful gathering for her in a private home and also a public screening and Q & A around the film.

Released in 1991, Thelma and Louise made an instant mark on pop culture, and was expected to open the floodgates for female driven films in the years to come. Ha Ha. Twenty years later, people are still waiting for those floodgates to open. This past summer yielded the success of Bridesmaids and The Help, but these successes were labelled unexpected, with many Hollywood insiders doubting the films’ bankability. It would appear that nothing has changed in the twenty years since Thelma and Louise drove off into the sunset in that ’66 Thunderbird convertible.

It is this inequality in Hollywood that caused Geena Davis to found the Geena Davis Institute on Gender in Media in 2004. Fueled by watching children’s programs with her kids, Davis realized that there was a substantial lack of female characters in children’s entertainment. In response, the Institute commissioned the largest research study at that point on gender in film and television, and came to the conclusion that only one out of every four characters in children’s entertainment were females. Furthermore, this statistic has remained virtually unchanged since 1946.

It is this fact that Geena Davis and her organization seek to change through advocacy, research, and the education of Hollywood on the need for more female characters in the media. It is their hope, that by 2016 when they repeat their research, the results will show a significant improvement. At the event in Salt Lake City, Davis spoke of the impact Thelma and Louise had on women at the time, and described how women would approach her and literally grab at her clothes in an effort to make sure she heard how much the film had effected their lives. Clearly there is a void in Hollywood where female voices need to be heard. Thankfully, there are people like Geena Davis coming in to fill it.

On a personal note, as I sat in the darkened theater watching that film I realized how much I have changed since I first saw the film in New York City in my mid- twenties. Then, I am sure I percieved it as a great story with two fantastic women characters who kicked some ass. It is likely I went to work the next day as a bond trader at Goldman Sachs and spoke to my all male trading desk about ‘girl power.’ Perhaps I even quoted that line in the middle of the film where Thelma asked the crying police officer to climb into the trunk of the car and warned him to “be nice to his wife or she could turn out just like me” (a gun wiedling fugitive wanted for murder and armed robbery). But then I left the movie behind and I don’t think I stopped to wonder why I never saw another film like it. I don’t remember asking myself why there were not more films like this, and why was it that almost everything I watched over the next decade had men as the heros and women as only the victims or arm candy.

Now I am 46 and have spent the last 10 years focussed on the advancement of women and girls. Now I see that the attempted rape was not just a scene in a movie, but in fact “1 in 6 American women have been the victims of an attempted or completed rape in their lifetime.” Now I see that that Louise’s courage to say enough is enough, and it is “not ok” perhaps opened the door for countless women to do so. Now I see that violence against women continues to be a pressing issue in our society and the only way we can ever hope to stop it is if women and men, together, say enough is enough, and work to end it.

What also struck me in the film this time, which I am sure I did not notice the first time around, is how much more beauitful the women became on their journey. They started out with barbie doll style make-up and hair, uptight clothing, and a car full of luggage. They were like actors in their own life play, dressed up for the parts of submissive wife, waitress, and more. By the end of the film all that had been stripped away, and their authentic beauty, inside and out, was all we could see. Their iconic journey was one of discovering their true selves and my oh my, isn’t that the universal journey we are all on?

Geena stated that women still come up to her today, telling her how empowering the film was and how it changed their lives. She joked at the irony that a film where the two lead characters commit suicide at the end would have that effect. Well it sure did. I want more films like Thelma and Louise, only this time, can we let them live?

Jacki Zehner with much help from Laura Moore

Turn of the Tide? Women and Television

Guest Post by Laura Moore

Last Monday night the hotly anticipated ninth season premiere of Two and a Half Men aired on CBS. Normally, shows that are entering their ninth season have long since passed their creative peaks and are limping out one last season for syndication profits. However, this premiere was different because it was the first episode to air since Charlie Sheen’s spectacular public meltdown and subsequent firing last spring, and the debut episode of his replacement, Ashton Kutcher. Tuesday morning the overnight ratings came out, and they were HUGE. Over 28 million viewers, and a 10.7 ratings share in the 18-49 demographic. For those unfamiliar with ratings, those numbers are staggering, and larger than the past three seasons ofAmerican Idol, long the number one rated show on television. But for all the headlines Men’s ratings are generating, another story is getting shoved under the rug.

Airing immediately after Two and a Half Men, the new sitcom2 Broke Girls premiered to nearly 20 million viewers and a 7.1 share, easily becoming the second most watched show Monday night, and is on track to become the highest rated debut this television season. One could argue that 2 Broke Girls benefitted greatly from its lead in, but numbers are numbers, and those 20 million people could have easily changed the channel once Men rang in its final credits. Instead, they decided to stay tuned to what was reportedly CBS’s highest scoring pilot among test audiences, and what was listed by several critics as one of the best new shows of the season. More importantly, 2 Broke Girls is at the forefront of what industry insiders are calling the year of female domination on broadcast television.

Of the 24 new shows to debut this fall, 14 are centered on a female character, compared to 7 that are centered on male characters, and of those, the majority of these men are struggling to determine what it means to be a man in a television landscape dominated by strong women. Even more telling are the behind the scenes statistics: six out of the ten new sitcoms were created by women, and the creators of ABC’s Revenge only got the go ahead once they changed their lead character to a women. Furthermore, viewership statistics show that women account for up to 65% of primetime viewing, meaning that advertisers are starting to demand shows that will deliver large female audiences. Looking at this season’s line up of new shows, it would appear that the television industry is finally delivering.

Television isn’t the only industry getting on the female bandwagon; Hollywood is starting to take notice as well. The summer season of Hollywood blockbusters has just ended, and in a season dominated by male superheroes, Bridesmaids has emerged has the underdog winner of the summer. Made on a budget of $32 million, written by two women, and starring a pitch perfect ensemble of women, Bridesmaids has now pulled in over $280 million worldwide, beating out a lot of other blockbuster juggernauts at the box office in turns of profits vs. budget.

While Bridesmaids was the story of the beginning of the season, then The Help was the story of the end of the season. Debuting in August in second place behind Rise of the Planet of the Apes, The Help went on to win the next three weekends at the box office, eventually pulling in over $150 million on a $25 million budget. This is all the more impressive given that August is the month that has commonly been known as the wasteland of summer movies, where films go to die.

So do these successes signal a turn of the tide? Only time will tell, but the immediate future looks promising. What’s Your Number? another female driven and written R-rated comedy is set to be released next week, and reports are that in the wake of Bridesmaids’ success, Hollywood producers are being inundated with scripts both written by and featuring women. Moreover, it is telling that the highest rated comedy on TV has put a heartbroken computer geek in the place of TV’s ultimate womanizing manwhore. Although the history of television tells us that over half of all new shows to debut in any given season will eventually fail, the odds are for once squarely in favor of women. One can only hope that this trend will continue, so we can finally arrive at a point where characters of either sex have equal opportunity to flourish and a television season can be judged solely on its artistic merits instead of the gender behind it.

For more information on women’s progress in media, look into the following organizations; both offer weekly newsletter updates.

http://blogs.indiewire.com/womenandhollywood/#

http://www.thegeenadavisinstitute.org/

Poverty in the United States

This week we got some unsettling news on income, poverty, and education that should leave us all deeply concerned.

Here are the facts from the census bureau as reported by the Wall Street Journal.

- the income of the typical American family has dropped for the third year in a row, is at the same level as 1996 when adjusted for inflation and 7% below its peak in 1999

-income of a household considered to be at the statistical middle fell 2.3% to an inflation-adjusted $49,445 in 2010

-Earnings of a typical man who works full-time year round are lower than in 1978 when adjusted for inflation

-Women are making 77 cents for every dollar earned by comparably employed men and their median incomes rose in 2010

-22% of American children live below the poverty line, up from 20.7% in 2009, and the biggest percentage since 1993 ( thought this significantly overstates poverty my mission government transfers)

-US per capita net worth is $169,691, up from $147,889 in 2007

-14 million Americans remain unemployed

-16.3% of Americans do not have health insurance, or 49.9 million people.

-5.9 million Americans between 25 and 34 (14.2% of that group) lived with their parent in Spring 2011, compared to 4.7 million (11.8%) before the recession

- the results from the college entrance exam, taken by about 1.6 million students, revealed that only 43% of students posted a score high enough to indicate they were ready to succeed at college.

(for many more FACTS check out the resource section of this web-site)

President Obama on Job Creation

Here is my recount of the speech tonight. Where possible, I quoted. Thoughts at the end.

“We meet at an urgent time in our country. We still face the impact of the Financial Crisis and Political Crisis that has made things worse.”The U.S. has thrived under the basic concept that if you worked hard, you could make it in this country. That has eroded.“There are steps we can take right now to make a difference.”“American Jobs Act” – pass it right away. (most repeated line of the night) “Everything in this bill will be paid for. Everything. Point to put more people back to work, and more money in the pockets of people who are working. Small businesses are where most jobs are created.” Payroll tax credits for small business. Next. Spend money on schools. We will spend money on infrastructure. Tax credits for hiring veterans. Tax credits for hiring young people. Tax people who have been looking for a job for longer than 6 months. Extend unemployment insurance. No tax increases on the middle class.

Now… how to fund.

I will release a more ambitious deficit reduction plan next week… which includes increasing taxes on families earning more, as well as corporations. Medicare reform needed. “We need a tax code where everyone pays their fair share.”

Says we can do this. Create jobs and pay for it. A question of priorities. We need to out innovate companies in other countries. We need to shorten the patent process. Make exporting easier and more cost effective. We need to strengthen American company’s competitiveness. “Made in America.” ( lots of cheers) Training. Internships. Ra Ra.

“We can’t afford wasteful spending. We can’t burden business. I ordered a review of all government regulations. What we can’t do is let this economic crisis be used to wipe out basic protections that Americans have counted on for decades.” He rejects a lot of ideas…. (all good) “America should be in a race to the top.” ( lots of cheers)

“We built America together.” Members of Congress we need to meet our responsibilities. Everything I laid out will be paid for. ( really????)

Ended with a huge and passionate call to action. We cannot wait to pass this jobs bill.

My commentary…

Overall a really great speech. Big picture he spoke well to the issue of job creation, but it is the actual policies and practices that matter. Sounded great. Problem is that based on what I have read there is not enough money in taxing the rich and closing loopholes for corporations to fund new programs and tax breaks, let alone narrow the deficit. This was a pep rally for all things American, and it was good. We do have to come together to solve problems. Many are in serious need and to help. Agree.

“Do what you can, with what you have, where you are.”

Debt. Debt. Debt.

Debt. Debt. Debt. That was all we heard about this summer and with good reason. The US is in horrible shape and the numbers below put it all in perspective.

Here is why S&P downgraded the US credit rating.

* U.S. Tax revenue: $2,170,000,000,000

* Fed budget: $3,820,000,000,000

* New debt: $ 1,650,000,000,000

* National debt: $14,271,000,000,000

* Recent budget cut: $ 38,500,000,000

Now let's remove 8 zeros and pretend it's a household budget.

* Annual family income: $21,700

* Money the family spent: $38,200

* New debt on the credit card: $16,500

* Outstanding balance on the credit card: $142,710

* Total budget cuts: $385

This Thursday the President is being called upon to explain how is going to get the economy going again. Unlike the last go around, his options are more limited. Because of the numbers above which we have all been living and breathing for the fast few months, he does not have the ability to keep spending, nor should he. The public is demanding jobs but the problem is that our economy was fueled by spending financed through debt, and that has all but dried up. It is time to get creative and provide incentives for the private sector to invest and thus create employment opportunites. We are likely going to be in this slow to no growth scenerio for a while. For those expecting miracles, you may have a long time to wait

I'm BACK

What a summer! For the first time in forever I gave myself permission to take some time off and it was wonderful. Honestly, I kept thinking about this blog ( especially after watching the film Julia and Julia with my daughter) wondering how my readers might get along without me. Well I trust you all got along just fine but it is good to be back.

I am soon going to make the big move from BLOGSPOT to www.jackizehner.com so if you have not yet visited my web-site and signed up there, please do. Unlike blogspot you can elect to have my entries emailed directly to you. In addition I am populating the site with some great resources that I hope you might find interesting and useful including a robust library and events list.

So what to expect this fall? Lots more sharing about great people, ideas, organizations and more. Since kicking in to high gear this week I have already had some incredible calls with amazing women I will feature in upcoming entries - Abassador Swannee Hunt ( check out her latest Oped in the Boston Globe appearing today), Jensine Larson of World Pulse, Pat Mitchell of the Paley Center for Media and Lisa Witter of Fenton Communications.

It's good to be back.

The Debt Ceiling and the US Economy

Not a small topic for a short blog entry. For weeks the headlines have been all about the US hitting their debt ceiling and the possibility of a default on government debt. Now it seems like we have a 'deal' that will stop that from happening, a deal that likely no one really understands let alone buys in to. That said, thank goodness there is one. One could only imagine what the consequences of a default might have been, but it might well be the case that we begin to live them out due to lack of faith that the government of this great country of ours may be ever able to stop us from drowning in debt. Monika Mitchell of Good Business International gives a great overview of this crisis which you can access by clicking here.

Many have been asking my opinion about the economy, the equity markets, the bond market and more, so here it is in brief. I would continue to hold cash, gold, fundamentally strong global equities, commodities broadly speaking over the long run, and not much else right now. Further it is likely that the US dollar will continue on it's long term descent, so beware that if all you own are dollar denominated assets your purchasing power will be eroded away.

Why concern on US equities? I believe the fundamentals remain very poor. Yes corporate earnings and balance sheets are strong but because of cost cutting primarily, which is largely done. Without a robust domestic consumer how much hope can their be? Further the economic numbers have been horrible - employment, GDP, and more. I am particularly worried about the financials given that spreads (difference in yield between government bonds and corporate/mortgage/high yield debt ) in general are narrow, issuance is down, and the poor real estate market will work it's way in to write-offs.

US bonds. Rates are so low, artificially low due to the huge treasury buying program which cannot go on forever. You are simply not getting paid enough to go long duration. For more on this read the latest commentary by bond manager/guru Bill Gross of PIMCO.

Gold - protection against a depreciating dollar, financial insecurity, and the declining faith in the US dollar as the currency of choice. For so much more on gold check out this website - JSmineset.

Sorry wish I could be more positive on both the economic and market outlook but I really see little good news out there. Bottom line we have spent beyond on our means for some time now, at multiple levels, and sooner or later you have to pay the price.

I am officially taking a blogging vacation so wishing you all a fabulous August.

New Study Shows Working Mothers Do No Harm to Their Young Children

A new "long-term study by University College London suggests young girls fare better if their mothers go out to work." (link to article and study) I wish that wasn't the headline. I wish that we were past needing or wanting studies and headlines like this that pit working mothers against stay at home ones. Reality is though we still live in a world were women who work, whether by pure economic need or other reasons, are too often made to feel or just feel, that their children will suffer because of it.

We also still live in a country that does not do enough to support working parents. "The ideal scenario for children of both sexes was for both parents to live at home and for both to be working, a finding that will encourage policymakers' moves to help families stay together, if not critics of the rising numbers of working mothers." This should have been the headline for the research. Policies and practices like maternity leave, pay-equity, paid sick leave, compassionate leave are not women's issues, they are family issues and need increasingly to be framed as such for the health of our children, our communities and our nation.

To learn more about the issues please check out the Institute for Women's Policy Research.

The Bumbling of the Sexes in the Modern Workplace

My latest article, "The Bumbling of the Sexes in the Modern Workplace" was just published on Women Advisors Forum, a new online community of women investment professionals. It offers a fresh take on 'bad behavior' in the workplace. The kind of behavior I wrote about does not make headlines but may be one of many reasons why women are still far from achieving greater success in critical mass in the workplace.

Life Lessons and Never Give up!

I have an 11 year old daughter, Allie, who loves soccer. (pictured left as a snowy spring game in Park City )It started at the age of 4 when I began coaching her mixed team. She and her teammates would run around in little packs, sometimes kicking the ball, sometimes not, but they were out on the field as a team and loving every second of it.

Every season since then she has played. It went from mom coaching to now a professional coach in the Park City League. She practices two to three times a week and we drive her all over Utah it for games and tournaments. In her spare time she is often out there with the soccer ball practicing keeping the ball in the air and her power kicks. Her dad is often out there with her as she has long since passed the skill level of her mother. Watching the two of them together, and her out on the field, makes my heart sing.

We have been watching the watching the Women's World Cup Soccer matches as a family, and yesterday's game between the USA and Brazil will be a time I hope I never forget. (read here) The USA was in the lead early but the game was later tied due to a penalty kick Brazil had on goal that involved a very harsh call by the referee. The US then found themselves down a player for the rest of the game, and Brazil subsequently scored in OT to make the score 2 to 1. It was in the last minutes of overtime play that the US scored the most amazing goal I have every seen. It was to be decided in penalty kicks and the US won.

This team never gave up. They did not allow a referee's horrible call to take away their drive to win, but rather it seemed they used the injustice of it to motivate them. They supported one another and gave it their total all to the very end. Their focus, their intensity, their sense of team was one of the most spectacular moments in women's sports that I have every seen. We were all jumping around the living room screaming and in the middle of it all was my daughter Allie. I have no doubt for a very long time to come when she is feeling defeated and down on that soccer field, and maybe even in life, she will remember that moment. I know I will. If you really want something, never give up.

link to video of the game click here.

John Hunstman

Just shortly before John Huntsman announced that he would be running for President on June 21st Greg and I had the opportunity to meet him at a small gathering in Salt Lake City.

First impressions? He was a very good speaker, poised, and delivered a strong message which he undoubtedly will be taking on the road. The message was a call for an industrial revolution in the US and renewed faith in the innate strength and leadership of America and the American people.

While serving as Ambassador to China he saw first hand the growth potential of that country but he was bothered how it seemed that many in the US were ready to hand over the top dog position in terms of being a global power. He does not see it that way. He sees the US as having so much that a country like China aspires toward and the call is for the American people to see it that way too.

Are US debt levels unacceptable to him? Yes. Is there a need for tax reform, energy reform, regulatory reform and health care reform? Yes. Is he tired of the divisiveness in this country? Yes. Are lessons is civil discourse needed? Yes. In his short remarks to a very friendly audience filled with close friends and family members he has enthusiastically received. Could he make a great President? Way to early to tell but there is no doubt about his aspirations.

For the record I am neither Democrat nor Republican. I am Canadian!

Bridesmaids - The Movie

This entry is not about "money, markets or changing the world" but I feel called to share. Two nights ago I went to see the film Bridesmaids with my mom and it was absolutely entertaining and hilarious. Ok I admit it, I have a somewhat crude sense of humor at times, but can you blame me after spending over 10 years on a trading floor? The film was written by two fabulous women writers, Kristen Wiig ( who is also the main actor) and Annie Mumolo. It "took its cue from the success of buddy comedies like “The Hangover,” but aimed it at a female cast and female anxieties, with a poop scene as its most memorable set piece. In the process, the Judd Apatow-produced Universal comedy seems to have single-handedly gestated a new movie genre." ( read the full article here)

For the record I really did not like The Hangover. I also disliked Knocked Up (both were DVD rentals and I am embarrassed to even say I watched them) so you might call me a hypocrite for loving Bridesmaids but I am willing to live with that. I hope I am the type of person that can take a joke but that genre of 'guy flicks' were women are only strippers, sex-toys or nagging girlfriends or wives makes me crazy. Sadly most 'chick flicks' are still about women whose lives are almost completely defined in relationship to men, this one too to some extent, but it was still absolutely hilarious. Where it played off female anxieties that were not related to guys were it's funniest moments for me.

I have to go back and see it again with my husband and maybe some other dudes to see if they how they felt about the movie. I read some great reviews of the film and one guy called it the "anti-chick flick' - meaning it was a chick flick that he actually liked. Did it portray men in a somewhat stereotyped and sexist manner? Well yes but that the male reviews I read did not seem to have a problem with that.

Will it gestate a new movie genre? I am not so sure but I am willing to give other such films a try. I am loving that this film is a huge success and is sending a message to Hollywood that films for women, featuring women, written my women, that don't follow the 'rules' can be hugely successful.

So I have this idea for a comedic film. It is a set in an alternative universe where women are the main breadwinners, have all the power, and it is the men that are trying to break in. Think "Working Girl" but gender reversed. Think MadMen, but gender reverses. If anyone knows Kristin Wiig can you please give her my number?

Go see the film and get ready to laugh yourself silly. Warning it is rated R for a reason.

Gold

It has been a while since I have written about GOLD. For that matter it has been a while since I have written about the markets in general. John Hathaway is a personal friend, a lovely human being, and a brilliant investor. Read what he has to say about GOLD and perhaps more importantly, the US dollar. I agree.

The price of gold is more about the declining value of the US dollar, they it is about an intrinsic value of the commodity. He makes some strong claims in this piece including this one about how the government has artificially held down nominal interest rates - "That amounts to outright theft of wealth by government from its citizens and more recently non-U.S. investors." Bottom line - not good. Stay with the piece, it is a long one, but indeed very educational.

"

Pat Mitchell is one of my favorite women on the planet. I can think of few others that advocate for the advancement of women and girls more then Pat. She serves as President for The Paley Center of Media which "with locations in New York and Los Angeles, leads the discussion about the cultural, creative, and social significance of television, radio, and emerging platforms for the professional community and media-interested public."

In a blog posted today she talks about a new initiative called She’s Making Media. It is a "new series of programs that puts a slightly different lens on the subject of women’s role in media. We are going to celebrate, curate, and build a special collection (and a new television series) with women who are making media for a very specific purpose." The program was launched earlier this month with playwright, performer, artist, and activist Eve Ensler. "She is making media that makes the world safer for women and girls."

At our recent Women Moving Millions gathering in April we had the pleasure of participating in a conversation with both these amazing women. ( photo above ) The topic of the discussion was how to leverage media to create social change. There is likely no better example of that then the work of Eve Ensler. "From her productions of the groundbreaking play, The Vagina Monologues (5000 performances a year in 140 countries raising 80 million dollars to end violence against women and girls) to her television documentaries, books and social media campaigns, Eve and V-DAY, the organization she built, are inspiring examples of making media that matters and, in fact, changes lives. My(Pat's) hour interview with Eve, featuring excerpts from the plays and films, will be posted on Paley Center’s video section within the next couple of weeks and an edited version will be part of a new TV series, network to be announced later." Check back to the Paley site to watch.

One thing that Eve said that has really stuck with me is this concept of "thingafying." The idea that if we just do this thing, or that thing, then problems will be solved. In the world of economic development that thing might we provide a girl with an education, or access to health services, or a micro loan. The reality is that issues like violence and poverty are very complex and we need to acknowledge that complexity and structure it in to the solutions we are championing.

Thanks to Eve and Pat for the amazing role models you are to all of us. Love you.

Women and Ambition

Please click here for a co-authored piece I wrote with the most fabulous Courtney Martin on women and ambition just published with Alternet. Coincidently I was just interviewed by the Center for Work Life Policy for an article on this same topic. Bottom line is the need to our own success while "acknowledging the ways in which we continue to benefit from unearned privilege." I hope you like the piece!

Courtney is a fabulous feminist writer and speaker. She is the author of three books DO IT ANYWAY: The New Generation of Activists, Click: When We Knew We Were Feminists, and Perfect Girls, Starving Daughters. I love them all. Every single one of them is a must read and a PERFECT gift for a graduating girl.

For Some - Judgment Day is Here

Though Harold Camping's prediction of Judgment Day came and went, many are facing another type of Judgment Day - of the financial kind. Click here to read more, my latest article for Women Advisors Forum.

How Change Happens! The Revival of the French Feminist Movement

I have become fascinated with studying how social change happens. Over the past few years we have been given incredible opportunities to study how an event can occur that suddenly catapults an issue area forward. The power of media and new social technologies allows more people to both take a stand and take action. Communities are able to quickly connect and organize speeding the pace of movement building for collective action. This is exciting.

Scanning my feminist news brief this morning courtesy of the Women's Funding Network I read this article in the Guardian about the effect of the arrest of IMF Chief and Presidential hopeful Dominique Strauss-Khan on alleged rape charges is having in France. France is not exactly known for being a leader in gender equality, but perhaps this incident will serve to reignite the movement. Change happens when an issue, in this case what is considered accepted sexual behavior by a powerful French male, is brought in to the public for debate and engagement. What is accepted becomes challenged and re framed, leading to a possible change in beliefs, which leads to a change in behavior, that change becomes institutionalized and there you have it. Will this happen overnight? Of course not. Without challenge? Of course not. But, the French people may one day look back and say the incident that ignited a wave of advancement on gender equality in their country was this arrest.

To get the news brief from the Women's Funding Network subscribe here. It is an incredible, daily news link summary of the best articles relating to women and girls around the world. Thank you WFN for this incredible service.