The United States of America known as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U. S. is the third most populous country. The capital is Washington, D. C. and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico; the State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean; the U. S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The diverse geography and wildlife of the United States make it one of the world's 17 megadiverse countries.
Paleo-Indians migrated from Siberia to the North American mainland at least 12,000 years ago. European colonization began in the 16th century; the United States emerged from the thirteen British colonies established along the East Coast. Numerous disputes between Great Britain and the colonies following the French and Indian War led to the American Revolution, which began in 1775, the subsequent Declaration of Independence in 1776; the war ended in 1783 with the United States becoming the first country to gain independence from a European power. The current constitution was adopted in 1788, with the first ten amendments, collectively named the Bill of Rights, being ratified in 1791 to guarantee many fundamental civil liberties; the United States embarked on a vigorous expansion across North America throughout the 19th century, acquiring new territories, displacing Native American tribes, admitting new states until it spanned the continent by 1848. During the second half of the 19th century, the Civil War led to the abolition of slavery.
By the end of the century, the United States had extended into the Pacific Ocean, its economy, driven in large part by the Industrial Revolution, began to soar. The Spanish–American War and World War I confirmed the country's status as a global military power; the United States emerged from World War II as a global superpower, the first country to develop nuclear weapons, the only country to use them in warfare, a permanent member of the United Nations Security Council. Sweeping civil rights legislation, notably the Civil Rights Act of 1964, the Voting Rights Act of 1965 and the Fair Housing Act of 1968, outlawed discrimination based on race or color. During the Cold War, the United States and the Soviet Union competed in the Space Race, culminating with the 1969 U. S. Moon landing; the end of the Cold War and the collapse of the Soviet Union in 1991 left the United States as the world's sole superpower. The United States is the world's oldest surviving federation, it is a representative democracy.
The United States is a founding member of the United Nations, World Bank, International Monetary Fund, Organization of American States, other international organizations. The United States is a developed country, with the world's largest economy by nominal GDP and second-largest economy by PPP, accounting for a quarter of global GDP; the U. S. economy is post-industrial, characterized by the dominance of services and knowledge-based activities, although the manufacturing sector remains the second-largest in the world. The United States is the world's largest importer and the second largest exporter of goods, by value. Although its population is only 4.3% of the world total, the U. S. holds 31% of the total wealth in the world, the largest share of global wealth concentrated in a single country. Despite wide income and wealth disparities, the United States continues to rank high in measures of socioeconomic performance, including average wage, human development, per capita GDP, worker productivity.
The United States is the foremost military power in the world, making up a third of global military spending, is a leading political and scientific force internationally. In 1507, the German cartographer Martin Waldseemüller produced a world map on which he named the lands of the Western Hemisphere America in honor of the Italian explorer and cartographer Amerigo Vespucci; the first documentary evidence of the phrase "United States of America" is from a letter dated January 2, 1776, written by Stephen Moylan, Esq. to George Washington's aide-de-camp and Muster-Master General of the Continental Army, Lt. Col. Joseph Reed. Moylan expressed his wish to go "with full and ample powers from the United States of America to Spain" to seek assistance in the revolutionary war effort; the first known publication of the phrase "United States of America" was in an anonymous essay in The Virginia Gazette newspaper in Williamsburg, Virginia, on April 6, 1776. The second draft of the Articles of Confederation, prepared by John Dickinson and completed by June 17, 1776, at the latest, declared "The name of this Confederation shall be the'United States of America'".
The final version of the Articles sent to the states for ratification in late 1777 contains the sentence "The Stile of this Confederacy shall be'The United States of America'". In June 1776, Thomas Jefferson wrote the phrase "UNITED STATES OF AMERICA" in all capitalized letters in the headline of his "original Rough draught" of the Declaration of Independence; this draft of the document did not surface unti
Symantec Corporation is an American software company headquartered in Mountain View, United States. The company provides services. Symantec is a member of the S&P 500 stock-market index; the company has development centers in Pune and Bengaluru. On October 9, 2014, Symantec declared it would split into two independent publicly traded companies by the end of 2015. One company would focus on the other on information management. On January 29, 2016, Symantec sold its information-management subsidiary, named Veritas Technologies to The Carlyle Group; the name "Symantec" is a portmanteau of the words "syntax" and "semantics" with "technology". Founded in 1982 by Gary Hendrix with a National Science Foundation grant, Symantec was focused on artificial intelligence-related projects, including a database program. Hendrix hired several Stanford University natural language processing researchers as the company's first employees, among them Barry Greenstein. Hendrix hired Jerry Kaplan as a consultant to build the in-RAM database for Q&A.
In 1984, it became clear that the advanced natural language and database system that Symantec had developed could not be ported from DEC minicomputers to the PC. This left Symantec without a product, but with expertise in natural language database query systems and technology; as a result in 1984 Symantec was acquired by another, smaller software startup company, C&E Software, founded by Denis Coleman and Gordon Eubanks and headed by Eubanks. C&E Software developed a combined file management and word processing program called Q&A for "question and answer."The merged company retained the name Symantec. Eubanks became its chairman, Vern Raburn, the former President of the original Symantec, remained as President of the combined company; the new Symantec combined the file management and word processing functionality that C&E had planned, added an advanced Natural Language query system that set new standards for ease of database query and report generation. The natural language system was named "The Intelligent Assistant".
Turner chose the name of Q&A for Symantec's flagship product, in large part because the name lent itself to use in a short merchandised logo. Brett Walter designed the user interface of Q&A. Q&A was released in November 1985. During 1986, Vern Raburn and Gordon Eubanks swapped roles, Eubanks became CEO and president of Symantec, while Raburn became its chairman. Subsequent to this change, Raburn had little involvement with Symantec, in a few years time, Eubanks added the Chairmanship to his other roles. After a slow start for sales of Q&A in the fall of 1985 and spring of 1986, Turner signed up a new advertising agency called Elliott/Dickens, embarked on an aggressive new advertising campaign, came up with the "Six Pack Program" in which all Symantec employees, regardless of role, went on the road and selling dealer sales staff nationwide in the United States. Turner named it Six Pack because employees were to work six days a week, see six dealerships per day, train six sales representatives per store and stay with friends free or at Motel 6.
A promotion was run jointly with SofSell. This promotion was successful in encouraging dealers to try Q&A. During this time, Symantec was advised by Jim Lally and John Doerr — both were board members of Symantec at that stage — that if Symantec would cut its expenses and grow revenues enough to achieve cash flow break-even KPCB would back the company in raising more venture capital. To accomplish this, the management team worked out a salary reduction schedule where the chairman and the CEO would take zero pay, all vice presidents would take a 50% pay cut, all other employees' pay was cut by 15%. Two employees were laid off. Eubanks negotiated a sizable rent reduction on the office space the company had leased in the days of the original Symantec; these expense reductions, combined with strong international sales of Q&A, enabled the company to attain break-even. The increased traction for Q&A from this re-launch grew Symantec's revenues along with early success for Q&A in international markets following Turner's having placed emphasis on establishing international sales distribution and multiple language versions of Q&A from initial shipment.
In 1985, Rod Turner negotiated the publishing agreement with David Whitney for Symantec's second product, which Turner named NoteIt. It was evident to Turner that NoteIt would confuse the dealer channel if it was launched under the Symantec name, because Symantec had built up interest by that stage in Q&A, because the low price for the utility would not be attractive to the dealer channel until demand had been built up. Turner felt. Turner and Gordon E. Eubanks, Jr. chairman of Symantec Corporation, agreed to form a new division of Symantec, Eubanks delegated the choice of name to Turner. Turner chose the name Turner Hall Publishing, to be a new division of Symantec devoted to publishing third-party software and ha
Cornelius Vander Starr
Cornelius Vander Starr known as Neil Starr or C. V. Starr was an American businessman and operative of the Office of Strategic Services, the predecessor of the CIA, best known for founding, in 1919, C. V. Starr & Co. in Shanghai, China. Starr's "hand-picked successor" was Maurice Greenberg, who took a lead role in forming AIG as a Starr subsidiary. AIG grew from an initial market value of $300 million to $180 billion, becoming the largest insurance company in the world. Starr was born to parents of Dutch ancestry, his father was a railroad engineer. Starr attended University of California, Berkeley from 1910 to 1911 before dropping out and returning to his hometown of Ft. Bragg, CA. There he began his first business venture, at the age of nineteen, he joined the U. S. Army in 1918 but was never deployed overseas because World War. Unable to resist a strong urge to travel and understand the world, he joined the Pacific Mail Steamship Company as a clerk in Yokohama, Japan; that year, he traveled to Shanghai where he worked for several insurance businesses.
In 1919 he founded what was known as American Asiatic Underwriters in Shanghai, China, a global insurance and investment organization. He had long been aware of the described and looming "Chinese Century", it has been reported that he worked for the Office of Strategic Services during World War II while in China. He was forced to move his operation to New York in 1939. In 2000, Mark Fritz wrote in the article entitled The Secret Agent Men for the Los Angeles Times: "They knew which factories to burn, which bridges to blow up, which cargo ships could be sunk in good conscience, they had pothole counts for roads used for invasion and head counts for city blocks marked for incineration. They weren't just secret agents, they were secret insurance agents. These undercover underwriters gave their World War II spymasters access to a global industry that both bankrolled and helped bring down Adolf Hitler's Third Reich. Newly declassified U. S. intelligence files tell the remarkable story of the ultra-secret Insurance Intelligence Unit, a component of the Office of Strategic Services, a forerunner of the CIA, its elite counterintelligence branch X-2.
After World War II, he hired O. S. S. Captain Duncan Lee, a lawyer, the long-term general counsel of AIG. AIG left China in early 1949, as Mao Zedong led the advance of the Communist People's Liberation Army on Shanghai, Starr moved the company headquarters to its current home in New York City. AIG was once the world's largest insurance company. In 1955 he founded the C. V. Starr Foundation, to which he left his entire residuary estate, after a small amount in the eight figures along with his house in Brewster was awarded to his niece upon his death in 1968, he set up several other trusts for his close relatives. The sum of money left to his niece and relatives would have been worth several billion USD in the 21st century; as of 2013 the C. V. Starr Foundation still gives between 100 and 200 million dollars USD annually to charities and causes around the world respectively; the C. V. Starr East Asian Library at Columbia University was named for Starr in recognition of an endowment gift by the Starr Foundation in 1981.
The C. V. Starr East Asian Library at the University of Illinois. There is the C. V. Starr East Asian Library at the University of California, which houses 900,000 volumes in Chinese, Japanese and other East Asian languages, making it one of the top two such collections in the United States outside of the Library of Congress. Students at Hofstra University will know C. V. Starr Hall as home to the Frank G. Zarb School of Business, a state-of-the-art technologically advanced building, which opened for classes in the fall of 2000 and houses the Martin B. Greenberg Trading Room complete with a stock ticker, delayed only 15 minutes from Wall Street; the C. V. Starr Center for the Study of the American Experience in Chestertown, MD, works in conjunction with Washington College to promote the American Pictures Series at the National Portrait Gallery in Washington D. C. Starr was an early investor in skiing at Mount Mansfield in Stowe, acquiring the Stowe Mountain Resort in 1949, it passed on to AIG in 1988.
An On-line Exhibition: Cornelius Vander Starr, his life and work: https://exhibitions.library.columbia.edu/exhibits/show/cvstarr / exhibit curator, Ria Koopmans-de Bruijn / Published New York, N. Y.: C. V. Starr East Asian Library; the Starr Foundation For information about Cornelius Vander Starr. C. V. Starr Center for the Study of the American Experience
American International Group
American International Group, Inc. known as AIG, is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of December 31, 2016, AIG companies employed 56,400 people; the company operates through three core businesses: General Insurance, Life & Retirement, a standalone technology-enabled subsidiary. General Insurance includes Commercial, Personal Insurance, U. S. and International field operations. Life & Retirement includes Group Retirement, Individual Retirement and Institutional Markets. AIG's corporate headquarters are in New York City and the company has offices around the world. AIG serves 87% of the Fortune Global 500 and 83% of the Forbes 2000. AIG was ranked 60th on the 2018 Fortune 500 list. According to the 2016 Forbes Global 2000 list, AIG is the 87th largest public company in the world. On December 31, 2017, AIG had $65.2 billion in shareholder equity. AIG was a central player in the financial crisis of 2008, it was bailed out by the federal government for $180 billion, the government took control.
The Financial Crisis Inquiry Commission of the US government concluded AIG failed because it sold massive amounts of insurance without hedging its investment. Its enormous sales of credit default swaps were "made without putting up initial collateral, setting aside capital reserves, or hedging its exposure — a profound failure in corporate governance its risk-management practices." The US government sold off its shares after the crisis and completed the process in 2012. AIG was founded December 19, 1919 when American Cornelius Vander Starr established a general insurance agency, American Asiatic Underwriters, in Shanghai, China. Business grew and two years Starr formed a life insurance operation. By the late 1920s, AAU had branches throughout China and Southeast Asia, including the Philippines and Malaysia. In 1926, Mr. Starr opened his first office in the United States, American International Underwriters Corporation, he focused on opportunities in Latin America and, in the late 1930s, AIU entered Havana, Cuba.
The steady growth of the Latin American agencies proved significant as it would offset the decline in business from Asia due to the impending World War II. In 1939, Mr. Starr moved his headquarters from China, to New York City. After World War II, American International Underwriters entered Japan and Germany, to provide insurance for American military personnel. Throughout the late 1940s and early 1950s, AIU continued to expand in Europe, with offices opening in France and the United Kingdom. In 1952, Mr. Starr began to focus on the American market by acquiring Globe & Rutgers Fire Insurance Company and its subsidiary, American Home Fire Assurance Company. By the end of the decade, C. V. Starr's general and life insurance organization included an extensive network of agents and offices in over 75 countries. In 1960, C. V. Starr hired Maurice R. Greenberg to develop an international health business. Two years Mr. Greenberg reorganized one of C. V. Starr's U. S. holdings into a successful multiple line carrier.
Greenberg focused on selling insurance through independent brokers rather than agents to eliminate agent salaries. Using brokers, AIU could price insurance according to its potential return if it suffered decreased sales of certain products for great lengths of time with little extra expense. In 1967, American International Group, Inc. was incorporated as a unifying umbrella organization for most of C. V. Starr's life insurance businesses. In 1968, Starr named Greenberg his successor; the company went public in 1969. The 1970s presented many challenges for AIG as operations in the Middle East and Southeast Asia were curtailed or ceased altogether due to the changing political landscape. However, AIG continued to expand its markets by introducing specialized energy and shipping products to serve the needs of niche industries. By 1979, with a growing workforce and a worldwide network of offices, AIG offered clients superior technical and risk management skills in an competitive marketplace. During the 1980s, AIG continued expanding its market distribution and worldwide network by offering a wide range of specialized products, including pollution liability and political risk.
In 1984, AIG listed its shares on the New York Stock Exchange. Throughout the 1990s, AIG developed new sources of income through diverse investments, including the acquisition of International Lease Finance Corporation, a provider of leased aircraft to the airline industry. In 1992, AIG received the first foreign insurance license granted in over 40 years by the Chinese government. Within the U. S. AIG acquired SunAmerica Inc. a retirement savings company, in 1999. The early 2000s saw a marked period of growth as AIG acquired American General Corporation, a leading domestic life insurance and annuities provider, AIG entered new markets including India. In February 2000, AIG created a strategic advisory venture team with the Blackstone Group and Kissinger Associates "to provide financial advisory services to corporations seeking high level independent strategic advice." AIG was an investor in Blackstone from 1998 to March 2012, when it sold all of its shares in the company. Blackstone acted as an adviser for AIG during the 2007-2008 financial crisis.
In March 2003 American General merged with Old Line Life Insurance Company. In the early 2000s, AIG made significant investments in Russia as the country recovered from its financial crisis. In July 2003, Maurice Greenberg met with Putin to discuss AIG's investments and improving U. S.-Russia economic ties, in anticipation of Putin's meeting with U. S. Presi
Ford Motor Company
Ford Motor Company is an American multinational automaker that has its main headquarter in Dearborn, Michigan, a suburb of Detroit. It was founded by Henry Ford and incorporated on June 16, 1903; the company sells automobiles and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Ford owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom and a 32% stake in Jiangling Motors, it has joint-ventures in China, Thailand and Russia. The company is controlled by the Ford family. Ford introduced methods for large-scale manufacturing of cars and large-scale management of an industrial workforce using elaborately engineered manufacturing sequences typified by moving assembly lines. Ford's former UK subsidiaries Jaguar and Land Rover, acquired in 1989 and 2000 were sold to Tata Motors in March 2008. Ford owned the Swedish automaker Volvo from 1999 to 2010. In 2011, Ford discontinued the Mercury brand, under which it had marketed entry-level luxury cars in the United States, Canada and the Middle East since 1938.
Ford is the second-largest U. S.-based automaker and the fifth-largest in the world based on 2015 vehicle production. At the end of 2010, Ford was the fifth largest automaker in Europe; the company went public in 1956 but the Ford family, through special Class B shares, still retain 40 percent voting rights. During the financial crisis at the beginning of the 21st century, it was close to bankruptcy, but it has since returned to profitability. Ford was the eleventh-ranked overall American-based company in the 2018 Fortune 500 list, based on global revenues in 2017 of $156.7 billion. In 2008, Ford produced 5.532 million automobiles and employed about 213,000 employees at around 90 plants and facilities worldwide. Henry Ford's first attempt at a car company under his own name was the Henry Ford Company on November 3, 1901, which became the Cadillac Motor Company on August 22, 1902, after Ford left with the rights to his name; the Ford Motor Company was launched in a converted factory in 1903 with $28,000 in cash from twelve investors, most notably John and Horace Dodge.
The first president was not Ford, but local banker John S. Gray, chosen to assuage investors' fears that Ford would leave the new company the way he had left its predecessor. During its early years, the company produced just a few cars a day at its factory on Mack Avenue and its factory on Piquette Avenue in Detroit, Michigan. Groups of two or three men worked on each car, assembling it from parts made by supplier companies contracting for Ford. Within a decade, the company would lead the world in the expansion and refinement of the assembly line concept, Ford soon brought much of the part production in-house in a vertical integration that seemed a better path for the era. Henry Ford was 39 years old when he founded the Ford Motor Company, which would go on to become one of the world's largest and most profitable companies, it has been in continuous family control for over 100 years and is one of the largest family-controlled companies in the world. The first gasoline powered automobile had been created in 1885 by the German inventor Carl Benz.
More efficient production methods were needed to make automobiles affordable for the middle class, to which Ford contributed by, for instance, introducing the first moving assembly line in 1913 at the Ford factory in Highland Park. Between 1903 and 1908, Ford produced the Models A, B, C, F, K, N, R, S. Hundreds or a few thousand of most of these were sold per year. In 1908, Ford introduced the mass-produced Model T, which totalled millions sold over nearly 20 years. In 1927, Ford replaced the T with the first car with safety glass in the windshield. Ford launched the first low-priced car with a V8 engine in 1932. In an attempt to compete with General Motors' mid-priced Pontiac and Buick, Ford created the Mercury in 1939 as a higher-priced companion car to Ford. Henry Ford purchased the Lincoln Motor Company in 1922, in order to compete with such brands as Cadillac and Packard for the luxury segment of the automobile market. In 1929, Ford was contracted by the government of the Soviet Union to set up the Gorky Automobile Plant in Russia producing Ford Model A and AAs thereby playing an important role in the industrialisation of that country.
The creation of a scientific laboratory in Dearborn, Michigan in 1951, doing unfettered basic research, led to Ford's unlikely involvement in superconductivity research. In 1964, Ford Research Labs made a key breakthrough with the invention of a superconducting quantum interference device or SQUID. Ford offered the Lifeguard safety package from 1956, which included such innovations as a standard deep-dish steering wheel, optional front, for the first time in a car, rear seatbelts, an optional padded dash. Ford introduced child-proof door locks into its products in 1957, and, in the same year, offered the first retractable hardtop on a mass-produced six-seater car. In late 1955, Ford established the Continental division as a separate luxury car division; this division was responsible for the manufacture and sale of the famous Continental Mark II. At the same time, the Edsel division was created to design and market that car starting with the 1958 model year. Due to limited sales of the Continental and the Edsel disaster, Ford merged Lincoln and Edsel into "M
Brian Duperreault is president and chief executive officer of American International Group, succeeding Peter Hancock in May 2017. Duperreault's career spans 40 years, he was president and chief executive officer of Marsh & McLennan Companies from 2008 to 2012. Before joining Marsh, he served for four years as non-executive chairman of ACE Limited, a global insurance and reinsurance company, CEO of ACE Limited from October 1994 through May 2004, as the company's president from October 1994 through November 1999. Prior to joining ACE, Duperreault served in various senior executive positions with AIG and its affiliates from 1973 to 1994. Duperreault is chairman of Attune, a data-enabled company established by Hamilton Insurance Group, AIG and Two Sigma, he is the chairman emeritus of Blue Marble Microinsurance and former chairman of the board of overseers of the School of Risk Management of St. John’s University, New York. Duperreault is a member of the boards of the International Insurance Society, IESE Business School, Insurance Information Institute, Bermuda Institute of Ocean Sciences, Johnson Controls, Saint Joseph’s University, Pennsylvania.
He is credited by the Insurance Hall of Fame with helping to transform Bermuda from an island nation with a small, reinsurance-focused market into a global insurance centre. He resides in Bermuda. In March 2013, Duperreault was asked by Bermuda's Finance Minister, the Hon. E. T. Richards, to chair the Spending and Government Efficiency Commission; the Commission's primary objective was to make government more efficient, cost-effective and user-friendly. The SAGE Commission submitted a final report with recommendations on October 31, 2013. Born in Bermuda, he relocated with his mother to New Jersey when he was five months old, he attended Saint Joseph's University in Philadelphia where he received a B. S. in Mathematics. After receiving his degree Duperreault served in the United States Army, he considered becoming a mathematics professor, but newly married, he decided he wanted a better income than an academic life could provide. After he was discharged, he researched job ideas at a library, where he learned about the actuary profession.
In 1973, he started with AIG, where he held many positions heading the company's operations in Japan and South Korea, leading nearly all its international business. Duperreault became a credentialed actuary with the Casualty Actuarial Society in 1975. In December 2013, Duperreault came out of retirement a second time to establish Hamilton Insurance Group, a Bermuda-based holding company, with principals of Two Sigma, a technology company, The company goal was to use a variety of forms of technology, including artificial intelligence, machine learning and distributed computing, to improve underwriting and investment strategies. In May 2017, AIG named Duperreault as its new president and chief executive officer, replacing Peter Hancock. At the same time AIG announced that it would acquire Hamilton Insurance Group's US platform and partner with Hamilton and Two Sigma. Duperreault and his wife Nancy have three sons: Daniel and Christopher, he credits his career success to his Jesuit education at Saint Joseph’s University.
A devout Catholic, "It's everything. It's the essence of. I try to pray for guidance all the time. It’s the best counsel you can seek." Duperreault claims the impact of his faith was most apparent when he was offered the opportunity to rehabilitate Marsh & McLennan, suffering organizational and financial woes. Duperreault donated $10 million to Saint Joseph’s University, his alma mater, making the largest individual gift in the history of the university, he worked on charitable projects in China with former US President Jimmy Carter. Duperreault developed Bermuda’s charitable sector, chairing the Council Partners Charitable Trust, The Centre on Philanthropy, the Bermuda Institute of Ocean Sciences, he established the Duperreault Fellowship, an annual scholarship awarded to professionals to enhance their credentials for combating substance abuse. Member of the board of the International Insurance Society Member of the board of the IESE Business School Member of the board of the Insurance Information Institute Member of the board of the Bermuda Institute of Ocean Sciences Chairman of the board of directors of Attune Member of the American Academy of Actuaries Associate of the Casualty Actuarial Society Chairman of the board of Blue Marble Microinsurance Former member of the Association of The Metropolitan Opera Past chairman of the board of overseers of The School of Risk Management and Actuarial Science of St. John’s University Insurance Hall of Fame—inducted in year 2011 Honorary Doctorate from Saint Joseph's University - 2007 Bermuda Insurance Institute - 2006 Lifetime Achievement Award Honorary Doctorate of Commercial Science Degree from St. John's University - 2006 School of Risk Management, St. John's University - 2004 Insurance Leader of the Year
Forbes is an American business magazine. Published bi-weekly, it features original articles on finance, industry and marketing topics. Forbes reports on related subjects such as technology, science and law, its headquarters is located in New Jersey. Primary competitors in the national business magazine category include Fortune and Bloomberg Businessweek; the magazine is well known for its lists and rankings, including of the richest Americans, of the world's top companies, The World's Billionaires. The motto of Forbes magazine is "The Capitalist Tool", its chair and editor-in-chief is Steve Forbes, its CEO is Mike Federle. It was sold to Integrated Whale Media Investments. B. C. Forbes, a financial columnist for the Hearst papers, his partner Walter Drey, the general manager of the Magazine of Wall Street, founded Forbes magazine on September 15, 1917. Forbes provided the money and the name and Drey provided the publishing expertise; the original name of the magazine was Forbes: Devoted to Doings.
Drey became vice-president of the B. C. Forbes Publishing Company, while B. C. Forbes became editor-in-chief, a post he held until his death in 1954. B. C. Forbes was assisted in his years by his two eldest sons, Bruce Charles Forbes and Malcolm Stevenson Forbes. Bruce Forbes took over on his father's death, his strengths lay in streamlining operations and developing marketing. During his tenure, 1954–1964, the magazine's circulation nearly doubled. On Bruce's death, his brother Malcolm Stevenson "Steve" Forbes Jr. became President and Chief executive of Forbes and Editor-in-Chief of Forbes magazine. Between 1961 and 1999 the magazine was edited by James Michaels. In 1993, under Michaels, Forbes was a finalist for the National Magazine Award. In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company with a reorganization, through a new company, Forbes Media LLC, in which Forbes Magazine and Forbes.com, along with other media properties, is now a part.
A 2009 New York Times report said: "40 percent of the enterprise was sold... for a reported $300 million, setting the value of the enterprise at $750 million". Three years Mark M. Edmiston of AdMedia Partners observed, "It's not worth half of that now", it was revealed that the price had been US$264 million. In January 2010, Forbes reached an agreement to sell its headquarters building Fifth Avenue in Manhattan to New York University; the company's headquarters subsequently moved to the Newport section of downtown Jersey City, New Jersey, in 2014. In November 2013, Forbes Media, which publishes Forbes magazine, was put up for sale; this was encouraged by minority shareholders Elevation Partners. Sale documents prepared by Deutsche Bank revealed that the publisher's 2012 EBITDA was US$15 million. Forbes sought a price of US$400 million. In July 2014, the Forbes family bought out Elevation and sold a 51 per cent majority of the company to Integrated Whale Media Investments. Apart from Forbes and its lifestyle supplement, Forbes Life, other titles include Forbes Asia and fifteen local language editions.
Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox and on Forbes on Radio. Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. From the 2009 Times report: "Steve Forbes returned from opening up a Forbes magazine in India, bringing the number of foreign editions to 10." In addition, that year the company began publishing ForbesWoman, a quarterly magazine published by Steve Forbes's daughter, Moira Forbes, with a companion Web site. The company published American Legacy magazine as a joint venture, although that magazine separated from Forbes on May 14, 2007; the company formerly published American Heritage and Invention & Technology magazines. After failing to find a buyer, Forbes suspended publication of these two magazines as of May 17, 2007. Both magazines were purchased by the American Heritage Publishing Company and resumed publication as of the spring of 2008. Forbes has published the Forbes Travel Guide since 2009.
On January 6, 2014, Forbes magazine announced that, in partnership with app creator Maz, it was launching a social networking app called "Stream". Stream allows Forbes readers to save and share visual content with other readers and discover content from Forbes magazine and Forbes.com within the app. Forbes.com is part of Forbes Digital, a division of Forbes Media LLC. Forbes's holdings include a portion of RealClearPolitics. Together these sites reach more than 27 million unique visitors each month. Forbes.com employs the slogan "Home Page for the World's Business Leaders" and claimed, in 2006, to be the world's most visited business web site. The 2009 Times report said that, while "one of the top five financial sites by traffic off an estimated $70 million to $80 million a year in revenue, never yielded the hoped-for public offering". Forbes.com uses a "contributor model" in which a wide network of "contributors" writes and publishes articles directly on the website. Contributors are paid based on traffic to their respective Forbes.com pages.
Forbes allows advertisers to publish blog posts on its website alongside regular editorial content through a program called BrandVoice, which accounts for more than 10 pe