Success in the Business World

Whether we're trying to restart a sagging economy, or keep a good economy strong, banks are important. If they're run wisely and allowed to do their jobs, they play a central role in providing capital which creates jobs to help everyone. If they're run poorly, or cramped by government regulations, they can cut into economic growth and harm people's incomes.

An example of a successful and helpful bank is Commonwealth Associates. This is the type of financial institution which can encourage growth and well-paying jobs. Funding start-up businesses, or revitalizing failing businesses in a turnaround, is the kind of activity which creates opportunities for millions of workers - both blue collar labor and white collar professions. Bloomberg's Businessweek magazine describes Commonwealth Associates:

Commonwealth Associates, L.P. is a boutique investment bank that provides corporate finance advisory services to middle market companies. The firm offers fairness opinions, valuations, capital raising, financial consultation, and mergers and acquisitions advisory. Additionally, it provides agreement negotiations, leveraged buyouts, corporate divestitures, joint venture agreements, and strategic advisory services. Commonwealth Associates, L.P. caters to healthcare, technology, software, and telecommunications sectors. Its clientele includes Liquidmetal Technologies, MSO Medical, PlanVista, Comdial, and InkSure Technologies. Commonwealth Associates, L.P. was founded in 1988 and is based in New York, New York.

But exactly what is it that makes Commonwealth Associates not only successful, but also the type of institution which benefits all the citizens in our society? There are many banks, but not all of them have the desired effects for ordinary working Americans. Part of this success results from a global perspective. The company describes the international flavor of its business:

German is often used in our business because we work directly with Austria, Liechtenstein, and Germany. We receive research material and business literature written in German. Business telephone calls are made daily to Germany and all German-speaking countries.

Language skills, in particular a familiarity with German, are one of the necessary ingredients to the success of Commonwealth Associates. Located on Third Avenue in New York, they are situated regarding the financial district and important financial institutions in America. Electronically, they are in constant communication with Austria, Switzerland, Liechtenstein, and Germany. Economically, these German-speaking countries form engine of Europe's businesses and finances. To develop a career in banking, learning German is a good idea, according to Commonwealth Associates:

Corporations require multi-lingual workers in order to compete in the global markets. Germany is an economic strength in Europe, attracting companies to have offices in her cities.

The lesson: any company needs German-speaking professionals to succeed internationally, and a young professional can use a working knowledge of the German language to move ahead in our increasingly global businesses.

TRW and Visteon

In the complex histories of, and relationships between, automotive companies and their suppliers, individuals make careers, often with more than one of these businesses. Even if a professional doesn't jump ship and leave one company to join another, she or he may still find himself with a different employer as companies purchase each other, or change their names.

One individual who has made a stellar career for himself is Roland Greff. Currently vice president of Visteon Corporation, he was previously vice president of TRW. Both Visteon and TRW are major players in the automotive world.

Mr. Greff was born in France. He grew up speaking French, and studied other languages in school and at the university. His career in France's automotive industry succeeded spectacularly, and he soon began to manage multinational operations in Europe, South America, and the United States. He recalls how he got into the automotive industry:

I was approached by the project manager of a German company who was establishing a subsidiary.

It was Greff's ability to work with languages that made him a good candidate for this start-up project. The manager who hired him

felt that he needed someone to help the company bridge the gap between the two cultures. He thought my language and cultural skills

were central to launching a new operation in a foreign country. Greff would have to understand the workplace and professional cultures in Germany and in the United States, and smooth communication and hiring practices between the two.

After he offered me the job twice, I finally decided to make the move.

Ironically, Mr. Greff views his language skills in German and English as more important to his success than his native language:

This was really the key in my career progression. It made it possible for me to move from my position in France to a position near Hanover, Germany as a human resource manager for TRW. But it is not just the langauge. There is a whole array of skills involved when working across cultures, in addition to the business knowledge required.

Looking at the global situation, Greff sees that learning foreign languages will continue to be very important for engineers and managers in the future. He says:

Germany is still number one in Europe as an economic power and, if you take the automotive industry, German cars and engineering are on the leading edge worldwide. TRW's highest assets outside the U.S. are in Germany, with the greatest number of employees, by country, outside the U.S. Ford and GM also have a strong presence in Germany. The chance for a future assignment in this country as an engineer are higher than elsewhere. Another reason is that German companies are very global and appreciate German language skills when hiring Americans as employees.

Eventually, Greff saw opportunities at Visteon and left TRW. From his new position, he continues to work intensively, not only with Germany, but also with Austria and Switzerland. Working with English and German, he rarely uses his native language anymore. He sees a good future between the U.S. and the German-speaking countries of Europe because, unlike China, they continue to purchase American-made goods, keeping a better balance of trade.