Episode 309: 03-26-15
Land Rover Discovery Sport
Larry Zinn, general manager of Warren Henry Land Rover, Range Rover Infiniti and Jaguar, comes on the show to discuss the new Land Rover Discovery Sport, plus Warren Henry in the community, some of their upcoming loyalty events and a little Marlins baseball.
International Family Office Networking
Jeremiah Schnee is founder of the Wealth and Values Initiative (WVI) – a rapidly growing community of legacy families that are passionate to learn and apply best practices in the intergenerational transfer of wealth and values.
Jeremiah also co-founded iLEAD – an elite international exchange and leadership program that focuses on building robust business action networks for future family business leaders and first-time wealth creators from American, Western and Chinese family enterprises.
We discuss how he is bringing east and west together in the family office space.
Manage your Pain and Rehab Yourself Effectively
We talk to Dr. Andrew L. Sherman – Physiatrist. Pain is the nation’s number one public health concern, affecting more Americans than diabetes, heart disease, and cancer combined.
Pain’s effects can range from a nagging discomfort to a debilitating and life-altering experience. University of Miami Health System’s Pain Management Center is the leading multidisciplinary pain management facility in the Southeast. It offers state-of-the-art pain relief treatment and education to patients with acute and chronic pain from any of a variety of sources. Patients receive an independent medical evaluation, a multidisciplinary analysis of their pain syndrome, and a course of treatment tailored to their individual needs.
University of Miami Health System Rehabilitation Medicine is home to specialists in physical medicine and rehabilitation, otherwise known as physiatrists. UHealth’s physiatrists treat a wide range of problems that affect all age groups and touch all the major systems in the body, from sore shoulders to spinal cord injuries to discomfort arising from chronic disease conditions.
From low back pain and herniated discs to carpal tunnel syndrome and tendinitis, physiatrists seek to not only reduce and eliminate chronic pain, but also to prevent its recurrence and assist their patients to achieve optimal function.
We discuss what a physiatrist is and how to improve your quality of life by treating and managing your pain.
What Next For Interest Rates
Jim was quoted this week in the Real Deal on the Federal Reserve’s pending interest rate increase. He goes deeper about what a rate increase will mean for commercial real estate and how fast he thinks rates will rise.
Episode 309: 03-26-15 (To download, right-click and select “Save Link As”.)
Feature photo courtesy of Land Rover USA.
Transcription:
Announcer: 880AM The Biz. South Florida’s only all business radio station. Welcomes you to Fried Business. He grew up in South Florida. Has been in business here since the early 1990s and has closed over one billion dollars in deals. He’s seen it all. He always has an opinion and he’s always ready to share it. Informed, entertaining, and connected. He has his finger on the throbbing pulse of South Florida’s business community. He’s Jim Fried exclusively on 880AM The Biz. To talk to Jim and his guest call 305-541-2350. That’s 305-541-2350. Now here’s your host Jim Fried.
Jim Fried: Alright we’re back. We got a great show today and we’re going to talk about hot cars and hot times that are good friend Larry Zinn. Also talk to him about Marlins Baseball. We’re going to talk about International Family Office Networking between the U.S. and China with the iLEAD program and then we’re going to talk about how to manage you pain and rehab yourself effectively with a physiatrist Dr. Andrew Sherman is our special UHealth guest and then we’re going to end the show with me talking about what I believe is going to happen is the Feds starts to raise interest rates. The market was down just a tad, but while I was looking at Bloomberg I found a brand new app called Meerkat. I’m using it to stream live on the internet right now, so if you want to check us out on the internet look for me on Twitter @JimFried. Dee it’s all yours. Bring us back real fast for Larry Zinn.
[Commercial break]
Jim Fried: Hey everybody. You don’t have to be a world class athlete to be treated like one. Renowned orthopedic surgeon Dr. Lee Kaplan and his team at UHealth Sports Medicine are the official sports medicine providers of the Miami Hurricanes and the Miami Marlins. They could be your care team too. Finding unsurpassed care with expertise that puts you first. UHealth Sports Medicine is the regions only university based sports medicine provider. That means you have access to the very latest treatments often before they’re available anywhere else in South Florida. It’s all geared towards getting you back in the game quickly and safely. Schedule your appointment visit UHealthSportsMedicine.com today.
[Commercial break]
Jim Fried: And when you’re looking to buy or lease a car you want to get every advantage that you can. That’s why you have to check out our friends at Warren Henry Land Rover, Range Rover, Infinity, and Jaguar they’re all exceptional cars and they all come with the Warren Henry advantage. That means complimentary dent repair, key replacement, first service, and a personal assistant that you can call for anything anytime for four years. Always the best price. Always the best service, always Warren Henry.
Announcer 2: This is the Wall Street Business Network.
Announcer: South Florida’s only Business radio station. 880AM. The Biz. You’re listening to Fried on Business. To talk to Jim and his guest call 305-541-2350. That’s 305-541-2350. Now back to your host Jim Fried.
Jim Fried: Alright. We’re on with Larry Zinn. We’ve got Larry Zinn. We’re going to talk about a bunch of good stuff especially the Land Rover Discovery Sport, which I think these are on the road now, aren’t they Larry?
Larry Zinn: These are not in the road yet. It’s going to release next month. We just had a demo in for about a week and that car is awesome. About a week and a half ago I was down in Arizona doing a test drive. I’ve been through the desert…
Jim Fried: Hey Larry. Larry! You’re on a bad cell phone. Could you call back in?
Larry Zinn: Yeah.
Jim Fried: Okay. Call right back. We’re going to have Larry calling back. He’s getting squelched on his cell phone. We’re going to talk about the Land Rover Discovery Sport and then we’re going to follow up after this segment we’re going to talk with Jeremiah Schnee. He is the founder of the Wealth and Values Institute and we’re going to talk about his iLEAD program which is going to help the family offices in China and the United States network together. It’s going to be an awesome interview. You want to make sure your stick with us for the second half with Jeremiah Schnee. The founder of the Wealth and Values Initiative and it looks like Larry’s back on his cell phone. Dee how’s it sound now? Looks like it’s doing good. Dee put up Larry and let’s get going with Larry. Oh my goodness ! It doesn’t look like it’s so good. Dee? Dee? How we’re doing? Alright Larry you’re back.
Larry Zinn Can you hear me?
Jim Fried: Oh yeah. I can hear you better now, Larry. So you know, you part of the one demo Land Rover Discovery Sport, you’ve drove that around, tell me.
Larry Zinn: It’s a really cool. It’s the only car in its segment that has three rows. So the way that they use space on the inside of this car is really, really innovative.
Jim Fried: These are not the big ones. These are kind of smaller?
Larry Zinn: This is smaller actually. It’s slightly smaller than the Range Rover Evoke. For a car for that size that has three rows it really, really unique.
Jim Fried: Will talk about how it operated in South Florida traffic because we know that’s full of orange cones that people typically try to avoid and a lot of other speeding cars which you hopefully avoid also.
Larry Zinn: Well it is an all wheel drive vehicle, so it’s great in the rain. It has good ground clearance as well. If there ever is any flooding or as you know every few months we get something big, this is the car that’s definitely can get you through it and not to mention it’s going to get you there comfortably and it’s quite fuel efficient.
Jim Fried: Oh, Larry you’re right at the right spot. Now to talk to us on your phone so stay where ever you are man. Now you’re sounding good. So the Land Rover Ranger Discovery Sport, you know a lot of the cars that you guys sell with Land Rover and Range Rover, there’s a wait list. Is there a wait list for this?
Larry Zinn: You know we don’t expect a wait list on this car because it’s coming out of a brand new and they’re going to be able to produce what ever the need so they have plans for the Chinese market coming out, so we don’t have to worry about sharing production with them like we have on previous model.
Jim Fried: Well, that’ great because I know you have a little bit of a wait-list on some of your other cars. Now what other stuff that you got going on this summer and in the community. You guys do some great community events. What have you got coming up?
Larry Zinn: Let’s see. Well, we just sponsored the Children’s Bereavement Center. The Children’s Bereavement Center, we did a giveaway on a vehicle for a week to the highest bidder for the 2,500 dollar value. We donated, so the money all goes toward the Children’s Bereavement Center. As we get towards the summer too, we’re looking at doing another cars cost charity event which I know you’ve attended for.
Jim Fried: I love those. Floyd’s going to be helping you out with those stuff, isn’t he?
Larry Zinn: Absolutely. We like to put a big car show together. All the money goes towards wounded warriors and that’s a really great event that’s also something that I’m very fond of doing and on our side a non-charity related and we’re having a launch of the new Discovery Sport.
Jim Fried: Wow.
Larry Zinn: Coming later in April.
Jim Fried: Well, what’s that going to be? You invite people over. They get to try it out?
Larry Zinn: Well, everybody gets to see it in person, up close, get inside it, and then after that will have it at the store for everyone to drive it as well.
Jim Fried: Well, I know Vivian is going to want to check that out because she’s been all over me to get one of those and if you finally got one that’s there is no wait list on, I know she’s going to be pushing me hard. I’ve seen the Evokes going all over town and how does this raise far as comparing it to Evoke as far as handling and power?
Larry Zinn: Same power train as you’re going to have in the Evoke. It’s a little bit longer, it’s a little bit longer, but makes a very good use of aluminum. It feels pretty light. It’s a little bit more utilitarian that it’s really build to be more rugged than we have in the Evoke. You can be able to get 17 people on there to go out camping. The Evoke’s really, really plush.
Jim Fried: I’ve seen the Evokes. They come and go on the highway. They zip right by me usually and I’ve got the Infinity and it’s tough to zip up by me. I love the car.
Larry Zinn: It’s priced right Jim. The car is going to start at $37,000.
Jim Fried: Whoa! So it’s affordable for everybody. What are the… Now can you buy, can you also lease it?
Larry Zinn: Absolutely and we’re anticipating $399 lease at the time of lot so, will see if that happens. That’s we’re hoping for.
Jim Fried: Wow, that’s sounds affordable. I mean that’s right in the sweat spot. It’s just about everybody else. Now Larry…
Larry Zinn: This car is the real segment talk to Jim. I’m really excited.
Jim Fried: Now, are they going to come… What are the colors that they’re going to come because I’ve seen the Evoke and some really cool metallic type colors. What do you got here?
Larry Zinn: They’re going to have it in orange, all sorts of new stuff actually that we’ve never seen before, so that’s really, really…
Jim Fried: Larry you’re costing me money here. I just got a text from Vivian and that she wants the car. Alright.
Larry Zinn: Maybe I can save you money on this.
Jim Fried: Hey, will you never know. Listen I know this for sure that she is starting getting ready to come off her lease and we get those emails from everybody that the lease is up. You should come up and get your new car, so I guess I’m closing in on probably by this summer which is due right in April, right?
Larry Zinn: Absolutely.
Jim Fried: Alright, I got another… Want the Discovery. She wants it in black. Is it going to come in black?
Larry Zinn: Of course.
Jim Fried: My wife is a trip. She’s such a cute girl. So Larry, let’s talk a little bit about we’re really want to talk about besides cars, which is sports. We’ve got the Marlins coming up. It looks like they made some good moves. What do you think is going on with the Marlins this year?
Larry Zinn: I’m really excited. Able to pass a few figures.
Jim Fried: Larry, we’re having a real tough time hearing you. I don’t know where you’re physically located, but you’ve really got to try to get a better signal because you’re really getting squelched.
Larry Zinn Can you hear me…
Jim Fried: Up and down, Larry. Up and down. Are you inside? Can you call me back on a hard line? We’ve lost Larry. Hello? Larry? We lost Larry. I think he hung up. Alright, well listen we’ve been talking with Larry Zinn. We’ve been talking about the Land Rover Discovery Sport. The fact that these will not be on a wait list that you’ll get really funky colors. That it’s got great power train and it’s going to start at just $399. It sounds like a really awesome car. I can’t wait to see it and I know one thing about Larry is that he’s coming with me to opening day. We’re going to talk about the Marlins and opening day as soon as we get Larry and his gerbil working a little bit better on that cell phone. Dee can we hear him a little bit better now? Alright, we got Larry. Larry are you back?
Larry Zinn: I’m back.
Jim Fried: That sounds a heck a lot better Larry.
Larry Zinn: I’m back. Yeah, you know sometimes I want to throw my phone and I realize that’s probably a pretty bad idea.
Jim Fried: Yeah, I know. It’s not the right idea. So Larry listen, we’re going to be sitting behind home plate, right on the isle, opening day, can’t wait to go. What do you think about the Marlins this season?
Larry Zinn: You know I’m really excited. I think we got a step in the right direction. We got the youngest, best outfield in the major league. I love that they signed Ichiro because we’re going to get to see him all the time and that guy is a legend and the pitching staff looks strong.
Jim Fried: I’m very excited about everything and the one thing is that if you’ve been watching some of the preseason games you’ve got this awesome app which you, Giancarlo Stanton and it just looks like he’s just ready to take the top off the ball and I’ve met Morse when I went for batting practice. They had a season ticket holder batting practice and he seems like he’s really, really excited to be here and he’s been tearing it up this summer.
Larry Zinn: Yeah, I’m very excited that we’re able to hold on to him. I think that guy we have chance that him being a sure fire hall of famer and one of the best to ever play. This is like one of those situations when we had Miguel Cabrera and you knew the guy was going to be really special for the long term and we’ve ended up losing him. This is the guy we’re going to be able to keep and hopefully will have him through the entire tern of his contract.
Jim Fried: I’m very excited because it seems that the Marlins are now operating like a real baseball team locking up their young guys too, like Christian Yelich. Very exciting. Met that kid at a couple of different events. He’s just absolutely awesome guy.
Larry Zinn: That’s a big signing, Jim. I think it’s going to restore a lot of faith for the people in Miami that we are dedicated to winning and not just collecting on the revenue share.
Jim Fried: Well, you know this is really is a good sports town. It doesn’t really just happen when you’re a winner. It happens, people in this town follow people who have a plan. You don’t really have to win, you just have to be putting out effort. This is a town that will reward good solid. You remember that from the early seasons of the Heat when they weren’t winning, but they were still gutting it out and playing tough and hard-nosed and I’m really hoping that the Marlins will play that kind of ball to this year.
Larry Zinn: I think they will. I think that this is going to be really, really great season and we’re going to surprise a lot of people.
Jim Fried: Now, I wanted to just get back for one second to the Land Rover Discovery Sport because I’m getting emails here from my wife. It’s not stopping. She really wants to get it. She wants me to make sure you save her one in black. When are these hitting the market? When are they coming in? When are we going to go to that opening party?
Larry Zinn: We’re expecting that the vehicles will be available towards the end of next month and then the party will be in the beginning of next month, so I’ll send you an invitation.
Jim Fried: Please send me an invitation. I can’t wait to go. Larry, what other cars do you have that are on special right now?
Larry Zinn: Well, as you know for most manufacturers this is the end of their fiscal year, so the least programs that all of our stores are really, really strong. Over a Jaguar we got some great lease programs, Infiniti really good stuff going on right now, especially on the Q50 and QX60. Like Vivian has. This is an exciting month for us. Typically December and March are the two of the best months of the year.
Jim Fried: Wow! I always thought it was December. So you taught me something new. I got to start buying in March then. You know we’ve only got about a minute left, Larry. How do people reach you guys?
Larry Zinn: You can always see us at www.warrenhenryauto.com. Follow us on social media @warrenhenryauto or call us at 305-690-6006.
Jim Fried: I can’t wait to go to the new party for the Land Rover Discovery Sport. I’m going to bring all my social stuff. I’ll bring Johnny. We’ll blow it up socially. We’re going to have a great time and make sure Peter’s there to support us on social media. Say hey to Ismit Frank and the rest of my friends over there. I love coming over there. It’s great to be part of the Warren Henry family.
Larry Zinn: Well, thank you Jim. It was good being on the show today. Sorry for the phone troubles and looking forward to seeing you soon.
Jim Fried: Will see you soon Larry. We’re going to the ballgame in just under 10 days, Larry, so get ready. We’re hitting to Marlins and thanks again for being on the show today.
Larry Zinn: Alright, talk to you soon.
Jim Fried: You got it. Dee it’s all yours. Will be right back real soon. Right after this with Jeremiah Schnee is the founder of the Wealth and Values Institute. We’re going to talk about networking family offices in China and in the United States. Back after this.
Alright, I love that song because I’m always rolling down the highway with my Warren Henry Infiniti and when you’re looking to buy or lease a car you want every advantage that you can. That’s why you have to check out Warren Henry Land Rover, Range Rover, Infinity, and Jaguar they’re all exceptional cars. My wife is going to get one of those Land Rover Discovery Sports. When you’re looking to buy or lease a car you want to get every advantage that you can. That’s why you have to be with Warren Henry. They got exceptional cars. They all come with the Warren Henry advantage. That means complimentary dent repair, key replacement, first service, and a personal assistant that you can call for anything anytime for four years. Always the best price. Always the best service, always our friends and your friends at Warren Henry.
[Commercial break]
Announcer: South Florida’s only Business radio station.
Announcer 2: Part of the Wall Street Business Network.
Announcer: 880AM. The Biz. You’re listening to Fried on Business. To talk to Jim and his guest call 305-541-2350. That’s 305-541-2350. Now back to your host Jim Fried.
Jim Fried Alright we are back and this is exciting. We are now going real deep on the Family Office Space. We’ve got Jeremiah Schnee founder of the Wealth and Values Institute. It’s rapidly growing community and legacy families that are passionate to learn and apply best practices and he’s co-founded the iLEAD event and it helps U.S. and Chinese second generation business leaders get together. Welcome to the show, Jeremiah.
Jeremiah Schnee: Thank you, Jim. It’s a pleasure.
Jim Fried: Alright, now Jeremiah let’s get right into it. Who should attend your iLEAD program?
Jeremiah Schnee: Well, thank you Jim. We are interested in two categories, Jim. Next generation legacy family members with a high appetite to innovate and to develop a global business action network with their peers around the world and the other category, Jim is first generation wealth creators. Well, they don’t have to be part of an elite family to be fully participative here, but they need to have that legacy family vision for the future.
Jim Fried: Now, let’s take a step back because I ask who should attend before I even discuss what it was all about. Leave it to me to jump ahead. So tell us a little bit about what the event is and how you’re bringing Chinese and American families together?
Jeremiah Schnee: Well, Jim and maybe it would be helpful to step back half a step and just talk a little bit quickly about what a legacy family is?
Jim Fried: Sure.
Jeremiah Schnee: A legacy family generally involves complex inter generational wealth. So even if we’re talking about a first generation wealth creator, let’s say with a family is not in a operating business, chances are that the wealth is is going to be transferred to other family members sooner or later. Between operating business involvement, co-investment, some anthropic endeavors, or what ever, many families systems in this phase are regarded as legacy families. Now when you look at the U.S. it’s amazing. There are over 3,000 single family offices, Jim. Since family offices generally aren’t even practical for families to consider until they got about 100 million dollars in net worth or in assets and then you got thousands of other families that have not set up a formal family office, but have that kind of wealth in just want to keep it less formal. Now, when you look at this statistics surround these families, a lot of folks think they live charmed lives, but Jim sometimes there’s trouble in paradise. I can explain if you want me to go real further what the statistics show and why it is that we created the legacy family community and the iLEAD program.
Jim Fried: For sure, but I just want to make sure we get everything in. It’s up to you. Whatever you like to focus on, but I really think it’s important to talk about what these families are because after somebody makes money, then it starts to dissipate into the different generations unless somebody brings it all together.
Jeremiah Schnee: Well, it’s exactly Jim. You nailed it because you see by the end of the second generation by statistics 60% of the wealth is dissipated and by the end of the third generation by statistic 90% is decimated. These are smart people with MBA kids and a lot of good advisers. Now when you survey them they will say to you and this is all also antypic, bad deals, bad taxes, bad advice. That’s why we’re in this situation and of course there’s the expansion of the numbers and the family and that of course will generally dilute the wealth, but that’s not driver. But when you actually look at the statistics and the source reasons why, it’s because there’s a break down of trust and communication between generations. The first generation generally knows the value of the buck. They created it out of nothing, brilliantly successful, but probably driven, and the second generation grows up on another planet of receptions sometimes entitlement. It’s a totally different culture and that’s a challenge. That to address these challenges and the statistics and to figure out how to beat those statistics, we dove deeply into far leadership in a number of other aspects and that was the genesis of the foundation of the Wealth and Values Initiative and the legacy family community that is growing.
Jim Fried: Well, I think that’s why the young man that was on before you Larry Zinn. He’s third generation. It’s just amazing how he’s been able to keep it rolling. He’s just an absolute superstar. It’s wild that so much value dissipates over time. So you’ve got these next gen people and first gen people. You’re putting them together across the world. It sounds so exciting. I really would love to hear more.
Jeremiah Schnee: Well, thanks. So here’s what happened. The legacy families that were gaining about one or two a month. We don’t advertise. We have a certain code of conduct which goes around what we call the dolphin culture. You know if you swim with sharks you bleed in the water. We’ve all got the scars.
Jim Fried: Oh, boy.
Jeremiah Schnee: So we want to be dolphins and there’s a whole code of conduct around how that works. Hopefully we have time, but if not those are the kinds of families that are being attracted to this effort and when we surveyed those families, Jim they said to us, “Look, there are a lot of worthy groups of high net worth families and so on. Help us with the kids. Help us with the next generation,” and so a group of us including Peter Cuneo who is the guy who that took Marvel out of bankruptcy and sold it to Disney for $4.5 billion.
Paul Dupont, the Pitcairn family. There’s some wonderful families and some others that aren’t as well known, but equally wonderful. They are all back together and said, “Let’s start to do something that nobody else is doing,” and hence what was born, Jim was MNI. Now that’s not mergers and equestrians, that’s mentorship and internship. So we begin to mentor next gens and then find internships and other families of different businesses with different family cultures and different philosophies to place them in so that they could gain perspective and then find that they qualified their career whether they wanted to go back into the family business much more mature in season or go off on it alone. What happened at that point was we were approached by the Cheung Kong graduates School of Business. Which is essentially the leading privately owned executive ed program in China. They have revenues of $100 million a year. Fifty percent of those come from exec ed, so that’s not MBA or undergraduates, seasoned exec’s that want to come back and network and learn best practices so they could get wealthier and more successful together. It was in develop by a guy named Li Ka-shing who is kind of the Bill Gates of China and they said to us, “Look, we love what you’re doing with these families, third, fourth, and fifth generation families that are active with you. We really need to connect on a personal level.” Not just to of a philological or an academic level because we have one kid. We have 40 or 45 years of wealth created innovation, not four or five generations and we really want to understand what can we do to learn what’s transferable and develop family legacy’s that will be sustainable for ourselves and that was the launch in the beginning of the iLEAD program. Which doesn’t stand by the way, while I myself lead. It stands for inter generational leadership and I can explain more if you want.
Jim Fried: Jeremiah, we’ve only got about a minute left in this segment. What I’d like to know is, can you stick around. We’ve got a segment coming up with the University of Miami Health System and then about a quarter to seven we have some more time. Can you stick around or call back in about 10 minutes because I really want to dive in to what the takeaways are at this kind of event.
Jeremiah Schnee: Happy to do it Jim. It’s a full immersion program that launches this June with approximately 25 to 30 next gens from around the world, U.S., China and other cultures and it’s fascinating. It’s very unique and we love to have some of your listeners join us if they qualify and if they have that visionary appetite.
James Fried: Well, do me a favor, Jeremiah hang in there for just a few minutes. If you like you could call us back in about 15 minutes. I want to pick up on this and the fourth quarter of the show. Would you please do that for us?
Jeremiah Schnee: I’ll be too happy Jim, so I’ll call in what? About a quarter til two?
James Fried: Call in actually about 20 minute of, okay?
Jeremiah Schnee: Will do.
James Fried: Thanks Jeremiah. We’re going to have more with Jeremiah Schnee and iLEAD a little bit later on this show. Coming up after the break we’ve got Andrew Sherman. He’s a Physiatrist. I don’t know what that means. Neither do you. We’re going to find out right now back after this. Dee it’s all yours.
I would like to play that the whole time, but you know when you’re looking to buy or lease a car you want every advantage that you can. That’s why you have to check out Warren Henry Land Rover, Range Rover, and Infinity, and Jaguar they’re all exceptional cars and they all come with the Warren Henry advantage. That means complimentary dent repair, key replacement, first service, and a personal assistant that you can call for anything anytime for four years. Always the best price. Always the best service, always Warren Henry.
[Commercial break]
James Fried: As a high powered businesses executive I demand the best for my health and so do you with the UHealth Executive Physical. That’s what you get from the moment you schedule your appointment, you can expect unparalleled medical care and customer service from a personal concierge that will guide you through your visit and get you a customized benefit health care plan that’s going to keep you feeling your best. For any follow up care, you have direct access. The University of Miami’s renowned programs in cardiology, sports medicine, and more. Trust UHealth to take care of you, so you can take care of business. To schedule your executive physical call 305-243-2738.
Oh gosh, I got another read too. That’s right. I want to read about Lauren’s Kids. I want to make sure that everybody goes out and checks out Lauren’s Kids. Go on LaurensKids.org. She’s walking across the state to prevent child sexual abuse. Nothing is more important than protecting our future. You heard Jeremiah talking about how these big families protect their future. Protect your kids. Go to Laurenskids.org and learn why it’s okay to tell.
Announcer 2: This is the Wall Street Business Network.
Announcer: South Florida’s only Business radio station. 880AM. The Biz. You’re listening to Fried on Business. To talk to Jim and his guest call 305-541-2350. That’s 305-541-2350. Now back to your host Jim Fried.
James Fried: Alright. We’re now on with our special UHealth guest Dr. Andrew L. Sherman. He’s a Physiatrist. I hope I got that right. I have know idea what that really is, but I know he’s going to tell us. Welcome to the show. Dr. Sherman.
Andrew L. Sherman: Hi Jim. How are you today?
James Fried: I’m feeling great, but that doesn’t mean I don’t need pain management and rehabilitation, but that’s not what a physiatrist does, is it?
Andrew L. Sherman: Well, that’s part of what a physiatrist does actually and the funny thing is I’ve been trying to tell for years my grandmother what a physiatrist is. Here I graduated from medical school and after four years of college and four years of residency and I’m still trying to explain to her what it is that I am and what it is that I do. I will explain to you when you guess. How about that.
James Fried: Let’s do that.
Dr Andrew L. Sherman: Okay. In the end what a physiatrist is a physician, MD, or DO of physical medicine and rehabilitation and we’re really consider ourselves experts in nerve, muscle, bone injuries. We treat injuries and illnesses that effect how you move. We treat the whole person rather than a specific individual piece of your body.
James Fried: Wow!
Andrew L. Sherman: Treating the whole person we consider ourselves doctors of function. We try and get people better moving, working, living, despite any of the impairments that they may develop.
James Fried Well, sounds just like what I read when I talk about the University Miami Health System and how you guys have the integrated approach.
Andrew L. Sherman: Well, and that’s why a doctor physical medicine rehabilitation or physiatrist is actually perfectly place for many of the complex patients that we see. We receive training in team management and interdisciplinary approach to treating pain, chronic injuries, acute injuries, we treat little things, such as sprained finger, sprained shoulders, sprained back, or all the way to the big things. We call them the big things. Ring injuries, stroke, spinal cord injuries, catastrophic injuries. For those people we treat them on large inpatient units where we have a team of professionals and including other physicians, but mainly physical therapists, occupational therapists, specialized nurses, speech therapists, psychologists, all working together under the leadership of the physiatrist who get the person to maximize their function.
James Fried: Well, what’s your particular specialty, doctor?
Andrew L. Sherman: So I actually do specialize in the outpatient world. I specialize in pain management and muscular skeletal injuries and that’s where I spend the last 15 years of my work at the University of Miami.
James Fried: Well, it sounds to me like if you could take people that are having pain and help them feel better than it seems to me that what you’re during is extremely cost effective and this world of the Affordable Care Act.
Andrew L. Sherman: Well, we’re not surgeons and we like to say that it sometimes hard to pinpoint what it is we actually do when we prevent the surgery by prescribing… We prescribe physical therapy, we prescribe medications, we prescribe injections. We talk to the patient. We find out what they want, what they need, what their goals are, and most of the time surgery is not going to be the answer. Now when it is, we have our partners who we consult and provide the referrals and we have helped them pinpoint, actually what surgery should be done and why. Ultimately when it comes down to what we do we add life to years rather than years to life and that’s how we feel like we prevent illness, disability down the road and we become a real cost effective specialty for society.
James Fried: Wow! It sounds terrific because I know that when you get in there and you say, “Let’s make…” Let’s just say somebody hurts their back, the last thing they want to do is surgery. The first thing they want to do is something that’s non evasive. That really brings things together like nutrition and just rehabilitative medicine. I guess it would sounds like your the right guy for that.
Andrew L. Sherman: Well, and that’s why I love what I do. I just love seeing the patients get better without having to undergo such an invasive surgery when it’s, when they can do that and quite often they can do that and it’s a matter of giving them the confidence and showing them how and getting them sometimes it’s just back to being active again. Many people who get hurt come to me and they say, “Well, I got hurt a month ago and I just done nothing. I’m scared. I can’t move. I don’t want to move. I might hurt something worse,” and I just sometimes reassurance and sending them to a good exercise program is enough just to turn the big boat around then get sailing in the right direction.
James Fried: So it sounds like the type of patients is quite broad based and so is the type of problems that the physiatrist can take care of.
Andrew L. Sherman: And that’s part of our training. Our training is really is true. We go from, when you go from brain injury and stroke all the way down to a simple herniated disk or a simple pulled muscle in leg or a back. You’re really get to feel all kinds of people and we take care of kids too. Kids have all kinds of muscular skeletal ailments and sometimes catastrophic injuries and we see remarkable recovery and really appreciative parents and kids, so it makes the whole thing very worth while.
James Fried: Well, this numbness that I’ve have in my leg, it’s certainly doesn’t want to make believe that a herniated disk is just a little things. It’s sounds like you have a pretty broad based practice that handles all kinds of different stuff.
Andrew L. Sherman: Yeah and we can take care of a very complex situations and that’s why we really are trained and then we practice that training with multi and inter disciplinary team and we really do consult with neurologist and surgeons, as well as physical therapists and all the other professionals that I talk to you about. So really just decide that numbness is something that can be reversed as that numbness is something that we need to teach the patient how to maximize their function, even though the numbness is maybe a bother. There maybe things worse than numbness. Which is terrible pain. Which is also something that we manage.
James Fried: Sounds like you got your assistant back there in the office there doc.
Andrew L. Sherman: It’s hard to know what comes through, but those little yeps can be heard. I say.
James Fried: That doesn’t matter. It just makes more fun. It’s nice to know that your not just a doctor, but you’re a regular guy too. Now let’s see. I know that you’ve been all kinds of areas and specialties that you’ve been doing in the past, but what are some of the plans the specialty plans going into the future for you personally and what are the future plans of UM in this specialty?
Andrew L. Sherman: So this is a real exciting time for UM. UM is really recognized recently the importance of this field in treating the entire continuum of the patient from the beginning all the way through what we call post acute care which is at the end. In partnership with Jackson Memorial Hospital through their bond offering in partnership with UM has plans to build a very large multimillion dollar rehabilitation facility. Inpatient/outpatient with clinics, 90 bed hospital. Where our department and our trainees will be able to care for patients and it’s also in partnership with the MAMI project that cure paralysis, so there would be research going on, on cutting edge research into areas such as spinal cord injury and spinal pain.
James Fried: It sounds like you’re really getting ready to increase the equality of life of many, many people if you’re going to have a 90 beds in your facility. Where are you going to have that located?
Andrew L. Sherman: Well, it’s going to be located on campus of Jackson Memorial Hospital and the University of Miami Medical School and it’s going to be a tremendous asset to the city of Miami. It really is going to help move forward the care of patients who need rehabilitation management.
James Fried: Now is this facility fully funded?
Andrew L. Sherman: I don’t think it is at this point, but for the most part of it, it is through the bond offering. There was also a donation made by the Louis Poe from the Miami Project to cure paralysis and that’s all going to go into making the facility the best state of the art facility that it can be, but certainly there be a drive to raise more funds and there’s going to be a groundbreaking in late April I believe for the facility.
James Fried: Well, make sure you invite us so we can cover that and how do people get more information or get in touch with you so that they can find out more and access your facility because it sounds like it can appeal to a lot of people that have been having problems, but didn’t know what to do.
Andrew L. Sherman: Well, they can call the University of Miami and ask for the department of physical medicine and rehabilitation and they can ask for a physician, such as myself or one of our partners or one of our specialists in brain or spinal cord injury. Brain injury or strokes or just rehabilitation in general who can listen to their needs and listen to their problems and hopefully give them some answers.
James Fried: Well, it really sounds terrific. It sounds like you’re really providing a great benefits to the public, especially if you can keep even one person for just even a short period of time from having to get invasive surgery, by just doing some rehab and some modest medication. It sounds like you’re really heading in the right direction in keeping cost down for us all.
Andrew L. Sherman: That’s why I love the field. It’s been a tremendous ride for me for the last fifteen years down here at the University of Miami. I love the University of Miami and I really been able to I think help out quite a bit.
James Fried: Well, listen. I think we’ve created a great piece of content that you can send to your grandmother so that she can learn what you really do.
Andrew L. Sherman: Yeah. That’s something that we all struggle with the words physiatrist.
James Fried: Well, listen.
Andrew L. Sherman: And hopefully it really is going to be some education here that others that are listening to this show and sort of understand that we do have something really good to offer and if they want to come see us, we’re happy to provide that service.
James Fried: I got to get you back on the show with Ashwin Mehta. The two of you bring it all together. We’re really excited to have you and ask with us part of our guests here. Thank you so much Dr. Sherman. Looking forward to having you on again real soon and go on to the groundbreaking in just a few weeks.
Andrew L. Sherman: You bet. Thank you Jim.
James Fried: It’s my pleasure. Dr. Andrew Sherman, physiatrist, University of Miami Health System. We call them UHealth on this show. Will be right back after this with more from Jeremiah Schnee and his iLEAD, his family office next gen. China and United States, back after this. Dee it’s all yours.
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Announcer: 880AM. The Biz. You’re listening to Fried on Business. To talk to Jim and his guest call 305-541-2350. That’s 305-541-2350. Now back to your host Jim Fried.
Jim Fried: Alright. We are back and we’re talking more family office international family office with China and the United States. We’re here with Jeremiah Schnee. He is the founder of the Wealth and Values Initiative and also the person that’s organizing the iLEAD. The international Leadership entrepreneur exhilarated development program. It’s coming up this summer. Jeremiah welcome back.
Jeremiah Schnee: Thank you Jim.
Jim Fried: Alright, we laid the predicate for what the program was. Let’s talk about some of the takeaways because you’ve got all these families. They want to protect their wealth, they want a network, they like their privacy, they like to hang together, so tell us what their going to learn when they go to your program.
Jeremiah Schnee: Thank you. Well, many, many tracks in parallel I would say, Jim that I keep track is that they will emerge with the foundation for what we call a global business action network, so when you bring together spectacular families and or first generation wealth creators who may not be from elite families, but they have that vision and that passion and that appetite, you have an amazing mix. It so happens that the Asian families and the Chinese families in particular are very interested in deploying their wealth outside of the country for diversification reasons.
It also so happens that a lot of legacy families here on other business folks want to find partners who are reliable and with whom they’ve earned trust, which is what happens when you are in a full immersion program of this type which I will explain if you want me to in terms of the logistics of the curriculum. I think it’s the long term global business action network driven by the next gen. The younger people and then looping back through their parents who are probably old school or semi old school who then can connect. So what we’re doing is we’re connecting one family at a time through this process. That’s one dimension and I can explain others if you wish.
Jim Fried: Well, it’s seems to me like it would be great because they’re going to learn how to do business in the U.S. and China and then they’re going to deepen the relationships and also I guess exchange values and family legacies and kind of talk about how it works in their families and bring stories together a anecdotal information and help each other.
Jeremiah Schnee: Well, that’s right, Jim. The guidance provided to achieve those ends. It is driven by the peer to peer because it’s a wonderful authentic creative experience and the young people can really sharpen their networking skills, their bonding skills, and their partnering skills. Not to mention learning critical cross cultural skills and the global business age, but it also under the mentorship of faculty. Now this is no normal faculty. There are a lot of programs and they are all worthy with business school professors and so on. The driver for our faculty is wealth creators. People like Peter Cueon or Paul Depont and others. People who have been there done that and can share not only extraordinary experiences and wisdom but also open doors for this elite cohort which is by the way, tailoring so that if someone does apply to the program and it does start in June. I tell you the dates and so on.
They fill out an application. We listen very carefully and then commit to writing, what is their view of their big op in their career as well as that of their family and or their business and how is it that we can actually tailor particularly some of the high level of exposures in Philly, New York, and in Beijing, and Shanghai because the program is both the cohorted both places, so that they can get face time with some of the most powerful folks that would take them 10 or 20 years to develop, but they could of all and thus emerge with the jump-start to implement.
Jim Fried: Now Jeremiah we only have one minute left in this segment, so please tell me how do people get in touch with you and how do they get more information if they’re interested in joining your program?
Jeremiah Schnee: Well, thank you, Jim. The program starts June 7th and goes to the 17th here in America breaks for a month and then resumes in July for another week and a half or so Beijing and Shanghai. Now the website is ileague.ckgsv.info. There’s also a Twitter handle Twitter @ileague2015 and also I would strongly encourage that folks email us at mposwistillo@nextoppgroup.com. N E X T O P P G R O U P.com and we will be happy to interview them and connect them and launch from there.
Jim Fried: It sounds like an amazing opportunity for a lot of people that are listening to this show. Jeremiah, thanks for coming back. Thanks for being on for two segments. We look forward to working with you and the rest of the dolphins in the family office space.
Jeremiah Schnee: Thanks Jim. You’re doing fantastic work and I look forward to building together with you and your listeners, listening audience.
Jim Fried: It’s my absolute pleasure. Now I do did tease that I was going to talk about what was going to happen as interest rates begin to rise. I was quoted this week in the Real Deal in Miami, so is interest rates continue to rise one of the big impacts beyond the fact that it’s going to cost more to borrow money. Is that the dollar in strength and the we’ve been fighting a strong dollar. It’s not something we really like hearing South Florida because the strong dollar makes all of our products here in the United States stronger. It takes more for the foreign currency to buy, so is the interest rates rise, it’s going to make South Florida real estate more expensive to buy and perhaps slow down some of the international investment we have been seeing. Of course on the flip side, people that have already invested here have really made a coup in investing in South Florida and the value of their investment against their currency is increasing dramatically. Not only with their natural increase in value, but also with the decrease in their home currencies
I want to thank our guests today. I want to thank Jeremiah Schnee, the founder of the Wealth and Values and Initiative and we’re talking about his iLEAD program. I want to thank Larry Zinn for talking to us about the Land Rover Discovery Sport and giving us his spin on the Marlins. I want to thank Andrew L. Sherman, Physiatrist for telling me exactly what a physiatrist is and actually making me want to see one instead of going to get my back worked on by somebody who doesn’t know that they’re doing. Maybe going there with Dr. Sherman. It helps makes your back feel better and gosh darn it. I’m glad that he’s on the show and in the community.
I want to thank Warren Henry Automotive, UHealth, the South Florida Business and Wealth Magazine, our partners in media, the CCIMs. Next week the CCIMs will be on. Make sure you tune in for updated real estate information. The NFL Alumni, the Miami Dolphins, Social Media 305, the Miami Marlins, the Aztec Group, the Bergstrom Center of Real Estate Studies. I said UHealth, but I got to say it twice. Of course Lauren’s Kids. Get out there go to LaurensKids.org and follow her on her walk in and donate and protect our kids.
Please go to our Facebook page and tell us you like our show and tell your friends join our communities. Give us feedback and comments. I’m at Fried on Business. I’m at Jim Fried on Twitter, Facebook, LinkedIn, YouTube, website getting bunch of hits. If you missed today’s show it will be up on our website this weekend at www.friedonbusiness.com. This is Jim Fried for Fried on Business. Look for us next week on 880 AM Thursdays at 6 when we’re having the CCIMs. Remember this is not a rehearsal. This is your life. The person that wants to do something finds a way. The other finds an excuse. Now go out there and make it happen. I do this because I love it. I hope you love listening. Alright Dee take it away.
