• Business Management

    Service Properties Trust Announces Changes to the Benchmark Index for its Business Management Agreement with The RMR Group LLC

    NEWTON, Mass.–(BUSINESS WIRE)–Service Properties Trust (Nasdaq: SVC), or SVC, announced today that it has amended its business management agreement with The RMR Group LLC, or RMR LLC, a majority-owned subsidiary of The RMR Group Inc. (Nasdaq RMR), to replace the benchmark index used in the calculation of incentive management fees. Pursuant to the amendment, for periods beginning on and after August 1, 2021, the MSCI U.S. REIT/Hotel & Resort REIT Index will replace the discontinued SNL U.S. REIT Hotel Index and be used to calculate benchmark returns per share for purposes of determining any incentive  

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  • Financial Management

    Wealth Management Firms Address Systemic Racism

    With over 1,800 attendees, panelists representing the wealth management industry addressed systemic racism and its consequences for Black investors at the inaugural Black Wealth Summit, a three-day virtual event. Participants included speakers from Morgan Stanley, Raymond James, Charles Schwab, JPMorgan Chase and Bank of America, all of which addressed cultural and systemic factors they saw as obstacles to the generation of wealth by Black Americans, particularly intergenerational wealth.  Between sessions on Black wealth creation, event planners layered fireside chats on entrepreneurship, workshops on social media and education around behavioral finance alongside virtual networking opportunities. The event, which concludes on Friday,  

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  • Business Management

    Your Old School Management Practices Are Dooming You To Failure

    When it comes to running a business, what I have noticed is that while many founders are progressive with the technical aspects of their business ideas, their understanding of how small businesses operates is quite retarded and based on many industrial era concepts that have long outlived their usefulness decades ago. The science involved in business management practices has progressed since the industrial era but few business owners have noticed. What I see is that many entrepreneurs operate with a spotlight on the technical aspects of their business and forget about the evolution of business management practices. While there are  

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  • Financial Management

    The Coast Guard prepares for a new financial management system

    Best listening experience is on Chrome, Firefox or Safari. Subscribe to Federal Drive’s daily audio interviews on Apple Podcasts or PodcastOne. It’s not easy for a federal agency to cut over to a new financial management system. But that’s what the Coast Guard is about to do. Coasties are about halfway through the cutover period, with Nov. 17 as the date for completion. For how it’s all going, Federal Drive with Tom Temin turned to the assistant commandant for resources and the chief financial officer, Rear Admiral Mark Fedor. Tom Temin: Commodore Fedor, good to have you on. Rear  

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  • Business Management

    Why Business Continuity Management Matters Now More Than Ever

    There is no such thing as a truly fail proof business. Every business model is subject to some amount of damage from outside sources. Managing mandates and regulations as they come in takes more time than most businesses can handle on top of all the necessary footwork of daily profits and distribution of goods or services. Even in emergencies, lacking the forethought to deal with new, unique scenarios can halt or even end a business. We’ve had to learn it the hard way from the COVID-19 pandemic, but no business is completely safe from near-sightedness when it comes to managing  

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