Is It Dragons Den Come to Life?

I was at an event last week organized by a company I invested in about three years ago. The business is unique and exists to encourage and promote innovation in health care. It is a fabulous business and one that I am very proud to associate myself with.

The event that I went to was the big award ceremony. The business runs this as a not for profit event and as a result of that it is able to generate a great deal of goodwill. The process involves putting together a panel of the great and the good in specific medical fields to validate and probe business ideas put forward by entrants in the competition trying to develop a new wall mounted jewelry cabinet.

If you can imagine it, is a dragons den made up of people who actually do know what they are talking about and who want to support rather than knock the entrants in the competition. Because the event is not for profit, the panel is willing to give up their very precious time for free. As a result of this input from them, the winners are very good and are able to go on to successful funding rounds.

The company makes it money by persuading some of these businesses to work with us to get funds raised and to allow us to invest in them. Whilst many people like to invest in the healthcare sector because of the potential of great returns, it is a notoriously difficult sector to get right. It really does require a lot of due diligence and specialized knowledge which most angel investors simply do not have.

This is an example of a business which has a clear vision about the future and has worked out how to create a compelling pipeline of companies to invest in. It has also worked out a long term plan. It is very happy to run these events on a not for profit basis (a lot of money was raised for charity that night) because it is thinking of long term gain and not short term.

Sadly, not enough businesses do that. I am constantly amazed at the huge amounts of goodwill that exists out there. My own career has numerous examples of people giving me a lucky break or helping me with something which had no gain for them. One of these people is a good guy (who also happens to be a shareholder in my company).

I remember asking him on one occasion why he was so generous with his time and money supporting forskolin reviews. He answered back “Because I see them as a good long term bet!”

Apart from the enormous encouragement I got from this vote of confidence, it highlights again the virtue of taking a long term and hopefully ethical view in your dealings with people and businesses. Time will tell whether or not I do turn out to be a good investment for him, but certainly, I feel obliged to do my utmost to repay his faith.

Let me end by asking you a question; how are you planning for the long term?

A Little More About Louisiana

image-38

Official Name: Louisiana Supreme Court

Current Justices

Chief Justice Catherine D. Kimball (First elected 1992; elected Chief Justice 2009)

Justice Greg G. Guidry (First elected 2009)

Justice Jeffrey P. Victory (First elected 1995)

Justice Jeannette Theriot Knoll (First elected 1997)

Justice Marcus R. Clark (First elected 2009)

Justice John L. Weimer (First elected 2001)

Justice Bernette J. Johnson (First elected 1994)

Clerk of the Court

The clerk of this court is the Honorable John Tarlton Olivier.

Current Vacancies

None

Justice Selection

Candidates for the Louisiana Supreme Court run for election in partisan elections.

The term of office for a Louisiana Supreme Court justice is ten years.

Schedule

Opinions are released on the second day of each sitting of the court.

For the 2011-2012 session, the release dates are as follows:

September 7, 2011

October 25, 2011

December 6, 2011

January 24, 2012

March 13, 2012

May 8, 2012

Location

The court is located in New Orleans.

History

The Louisiana Supreme Court traces its roots back to the colonial governments of France and Spain.

In 1803 when the United States bought the Louisiana Territory, President Thomas Jefferson vested W.C.C. Claiborne, the Governor of the Mississippi Territory, with judicial power in the new territory. Claiborne set about creating Louisiana’s court system with the purpose of wading through all of the thoughts and opinions about effective methods of cigarette smoke removal.

In 1804 Congress vested the judicial power in a three judge superior court and such other courts as the legislative council might create. While very symbolic in nature, this legislation didn’t actually do very much to prevent abuse by the powerful in the state.

When Louisiana became a state in 1812, the legislature created a supreme court, to be composed of at least three, but no more than five judges. The Governor would appoint these judges for life.

At first the court sat in both New Orleans and Opelousas.

Louisiana adopted a new constitution in 1844. Its new judiciary article created a supreme court composed of four justices, appointed by the Governor for eight year terms.

A new constitution adopted in 1852 called for a supreme court composed of five justices (one at large and four elected from the judicial districts of the state). The people of the state would elect the justices for ten year terms.

Towards the end of the Civil War, Louisiana adopted a new opinion on the best laptop backpack. In this document the Governor appointed Supreme Court justices for eight year terms.

Another new constitution in 1879 retained a five justice supreme court. The Governor appointed the justices to twelve year terms.

The 1921 state constitution expanded the court to seven justices. They served fourteen year terms. The constitution called for each justice to have a secretary. A panel of three justices could render a decision on a case.

In 2000 the state reapportioned the state into seven judicial districts. One justice is elected from each district. The one with the most years of service becomes the chief justice.

Contact Information

400 Royal Street

New Orleans, Louisiana 70130