Family Pitches

The New York Times, Thursday, March 24, 2011

Finances That C.E.O.’s May Not Be Watching:  Their Own, by Paul Sullivan

Reginald Brack, 73, a former C.E.O. (Chief Executive Officer) of Time Inc., was interviewed by Mr. Sullivan about his financial planning for retirement and his estate planning for when he dies.  

“One of the things he and his wife have done to keep their family close is set up a foundation to give to charities they like but also to help their children and grandchildren talk openly about the purpose of their wealth.  Family members make pitches for particular charities and they all vote on which ones to support.

A pitcher pitches a ball, either in baseball or cricket.  However, people can pitch their ideas to family members, or in Hollywood, to producers about an idea for a movie.  

 

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