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President's Letter
Dear BABC Members and Friends, I am pleased to greet you after the summer months and officially open BABC's “busy season” by means of this fall newsletter. This summer we participated in several business networking events. We also published our annual membership directory containing valuable business service information and contact data on both sides of the pond, as well as member details and corporate descriptions facilitating business development, along with trade statistics and a year-in-review of BABC programs. Special thanks to all who contributed by purchasing, without you this annual publication would not be possible. |
FALL 2014
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Club Level Feature When is a recovery not a recovery? By Joanne Gilbert, Fixed Income Investment Specialist, Aberdeen Asset Management With so much policy ammunition spent in the pursuit of long lasting growth in the US, it is somewhat puzzling that the economy has remained, thus far, stubbornly sedate. Gross domestic product (GDP chained year-on-year) has posted almost exclusively sub-3% readings since the onset of the global financial crisis (GFC). In our view, this is hardly a pace to trouble the hawks on the Federal Open Market Committee. Indeed, it has resulted in talk of a “new normal” where the interest rate cycle has a much lower upper bound. Proponents say that instead of 5% being the top end of the federal funds rate cycle, we are likely to see rates peak at 3%. So what is holding the economy back? We believe the chief suspect must be the fiendishly slow pace of wage growth. After five years of economic expansion, the humble US worker has seen the real value of his or her hourly compensation rise by just 0.5%. This is the slowest rate of increase since World War II, a fact underlined by the poor savings rate. |
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UPCOMING PROGRAMS
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EVENT RECAPS BABC Young Professionals Group Third Annual Meeting: Tweeting — It's More Than Just for the Birds On Tuesday, April 30, 2014, the BABC of Greater Philadelphia Young Professionals Group (YPG) hosted Tweeting — It's More than Just for the Birds, a panel discussion and networking event at The Trestle Inn. Economics & Implications of the World Cup — Achieving its Goal On Tuesday, May 20, 2014, the BABC of Greater Philadelphia hosted a world class panel featuring industry experts who discussed the Economics & Implications of the World Cup — Achieving its Goal in collaboration with the Chilean, German, Norwegian and Swedish Chambers of Commerce. GREAT Tech Awards Launch Party with UK Trade & Investment On Wednesday, July 16, 2014, the BABC of Greater Philadelphia collaborated with UK Trade & Investment to not only kick off the GREAT Tech Awards, but to also connect people with technology and each other. International Business Networking Reception featuring the Deputy Mayor of Philadelphia, Alan Greenberger On Wednesday, July 23, 2014, the British American Business Council of Greater Philadelphia collaborated with the Chilean, French, German, Irish, Italian, Norwegian, and Philadelphia-Israel Chambers of Commerce along with the Japan America Society, and Mid-Atlantic Russia Business Council for an exclusive networking event with the Deputy Mayor of Philadelphia, Alan Greenberger. VIP Networking with the Philadelphia Union @ PPL Park On the evening of Friday, July 25, 2014, the British American Business Council of Greater Philadelphia collaborated with the Philadelphia Union on a VIP cocktail networking reception and friendly match game-watching event between the Union and the Crystal Palace Football Club of South Norwood, London, one of England’s premier league teams. |
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HUMAN INTEREST FEATURE BABC Young Professionals Group Co-Leaders Impact the International Business Community By: Marina Kazakidis, BABC Coordinator and Junior at Temple University As leaders of the BABC Young Professionals Group (YPG), Pat Riley, Vice President of Bartlett & Company Inc., and Julien Franklin, Marketing Communications Executive at Aberdeen Asset Management, have made impressive moves in the corporate world and have embraced their leadership roles with the BABC. We are honored to work with them in their capacity of BABC YPG Co-Leaders. Pat and Julien were enthusiastic to share some of their thoughts about the BABC, the YPG, and the Philadelphia business community. |
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BABC NEW MEMBERS The BABC of Greater Philadelphia is pleased to formally announce and welcome our newest members. Corporate Member:
Trilogy Graphics
Educational, Arts & Charitable Institution Member:
Drexel University
Individual Members:
Nancy Gilboy
Drew McGinty
Rory Morrison-Smith
John E. Sinclair
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The British American Business Council of Greater Philadelphia is an Affiliate of the Greater Philadelphia Chamber of Commerce. |
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British American Business Council / 200 S. Broad Street, Suite 700 / Philadelphia, PA 19102 www.babcphiladelphia.com/ Click here to be removed from this list |
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