When Anne Mulcahy took the helm in 2001, Xerox was teetering on the verge of Chapter 11 bankruptcy. The company had over $17 billion in debt and had recorded losses in each of the preceding six years. A recent reorganization in the company had not gone according to plan. Customers were unhappy and the economy had started to falter. Facing the overwhelming task of turning this once great company around, Mulcahy decided the best course of action would be… to ask for help.
How did that plan work out for her? She was able to return Xerox to the Fortune 500 with billions of dollars in profits and was named one of the top 10 most powerful women in the world.
There were four critical things she did to accomplish this amazing achievement.
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- She built a huge network of people that were interested in and invested in her success. Although there were a number of people that would have loved to see her fail, there was also a vast number of people that wanted her and Xerox to be massively successful, so she got these people on her team.
CUNA’s Governmental Affairs Conference is not to be missed. Over 5,000 credit union evangelists gather in our Nation’s capital to network, meet and greet, lobby, sing, dance, and of course eat! We’re proud to say that once again NACUSO staff and many board members were in attendance this year to meet with legislators and regulators to protect and further the CUSO movement.
As we entered the exhibit hall we were greeted by our Platinum partner CO-OP Financial Services with this compelling question:
This seemed to be the overall theme of the conference. A time of reflection and a time to look ahead and challenge ourselves. This year we honored credit union pioneers, like CO-OP CEO Stan Hollen, who will be retiring in May, and we celebrate the next generation of credit union leaders through the Cooperative Trust (aka “The Crashers”).
At the opening session CUNA President Jim Nussle delivered a very inspirational message in which he urged credit unions to become the disruptors that America is craving.… Read more
Each month we highlight at least one NACUSO member by interviewing one of their top executives. It’s an opportunity to tell their story in a casual and fun way. This month we sat down with CUSO “power user” Linda Bodie, Chief + Innovator of $31 million Element Federal Credit Union in West Virginia serving 4,643 members.
PART ONE: Life Story and Experiences
Where did you grow up and what was it like living there? Where did you go to school?
I grew up in Parkersburg, West Virginia. It was the 70’s and 80’s so it was fun times. You just can’t go wrong with disco and big hair. Yes, I owned parachute pants, and I wore them.
It was a small town of 30,000. It’s located at the confluence of the Ohio River and Little Kanawha River. It’s also a very historic place…lots of Civil War activities. Parkersburg was also pivotal in the birth of the oil and gas industry.… Read more
After several months of testing, the NCUA’s CUSO Registry is “open for business.”
I know there has been a lot of discussion and I’ve received quite a few calls regarding the CUSO Registry. Here are the most frequently asked questions and answers:
Q: What is the CUSO Registry?
A: The NCUA finalized a new CUSO regulation in November of 2013, and it became effective June 30, 2014. One of the changes in the regulation was the requirement for CUSOs that Federally Insured credit unions invest in, lend to, or receive services from, that those CUSOs provide certain information as of December 31, 2015, beginning February 1, 2016.… Read more
“What happens in Vegas…
stays in Vegas.”
This is one of the most famous taglines in modern tourism history and one of the most quoted. R & R Partners were hired in 2003 to help develop a brand around Vegas with something other than gambling. A year of research resulted in the following conclusions:
The emotional bond between Las Vegas and its customers was freedom. Freedom on two levels. Freedom to do things, see things, eat things, wear things, feel things. In short, the freedom to be someone we couldn’t be at home. And freedom from whatever we wanted to leave behind in our daily lives. Just thinking about Vegas made the bad stuff go away. At that point the strategy became clear. Speak to that need. Make an indelible connection between Las Vegas and the freedom we all crave.
According to FORBES magazine over 40 million people visit Vegas a year making it the third or fourth most popular tourist attraction in the world.… Read more