The Innovation of Dick DeVos

Dick DeVos is a prominent member of the Dick DeVos which is a well known and well respected family within the Michigan community. The DeVos family is the creator of Amway Corporation, an international company that has made billions from selling consumable goods to individuals and other corporations. In addition to their large success, the DeVos family is also a family that strongly believes in donations and philanthropy. The DeVos family, especially Dick DeVos believes that wealth is something that should be shared to help all in the community and help a community thrive. As a result, the DeVos family make regular contributions to many different types of organizations including religious, educational, free market, as well as artistic. Among the many donations that Dick DeVos makes, he is most earnest about giving money to help educational reform continue within the United States.

An example of his passion for education is through his creations of the West Michigan Aviation Academy which was founded has a charter high school. The idea behind creating a charter high school was to provide a free yet high quality education to individuals who deserve and education based upon their passion as well as on their merit. The West Michigan Aviation Academy has been a complete success and was officially established in 2010 with 60 students who came from various backgrounds. The charter school has been designed specifically to not only teach about the mechanics and techniques of aviation, but also about about core subjects that are important in any education.

Recently in news, Dick DeVos has teamed up with Northwestern Michigan College to offer 8 credits to individuals who come from this aviation academy. Dick DeVos decided to try and make this deal to save the students time as well as money. Dick DeVos realized that though the charter school offers a quality education, college is expensive and is often hard to pay for when a family has a lower income. This agreement is for any individual who has come specifically from the aviation academy and that can also prove how hard they can work to achieve their goals.

Meet Dick DeVos’s New CEO

Dick DeVos has recently hired a new CEO for the Stow Company Inc. The Stow Company is based in Holland and is part of the WindQuest Group. It specializes in custom home storage products. The previous CEO, Frank Newman, is retiring at the age of sixty-seven, though he will continue to serve on the board of advisors. The new CEO is Phil Dolci, who is 48 years old and has twenty-three years of experience in manufacturing consumer products. Before being hired by Dick DeVos, he was CEO of the Crosman Corporation, a Cincinnati-based company that specialized in producing products for shooting sports.

Dick DeVos is a well-known personality and philanthropist. He once ran for governor of Michigan and was listed as number sixty-seven on the Forbes list of the richest people in the world. He has a bachelor’s degree in business administration from Northwood University. He has also studied at Harvard and Wharton. His wife was the chairperson of the Michigan Republican Party. His wife Betsy (formerly Betsy Prince) has been married to him for thirty-five years and together they had seven children and five grandchildren. He is also a jet and helicopter pilot and a two-time National Champion sailor.

He is the son of the founder of Amway, Richard DeVos. In fact, he took over as the president of the company in 1993. This was a position he held until 2002. Before he was president of the company, he was vice president. Under his management, the company tripled their international sales over their domestic sales. This was the first time that it had happened. In addition, he was responsible for company operations in fifty countries. In his final year as president, before he became president of Orlando Magic, the company reported sales of four and a half billion dollars.


Highland Capital Management is a big firm located in Dallas Texas and is a private company with private equity started in the year 1993. It particularly deals with alternative investment management, whereby it is in charge of several branches of finance like structured investments, distressed funds and investments that are primarily structured. Alternative investments are also usually offered in the following ways: long and short term equity on, natural resources, and emerging markets. Highland Capital Management has got a very broad and vast client base that makes it a very successful firm as far as client base is concerned.

The current president of Highland Capital investment goes by the name James Dondero, who also happens to be the co-founder. His first venture into this field on the dawn of his career was to be an analyst. He later transcended to the position of portfolio manager whereby he also became an investor and decided to invest in cars like the Collateralized Loan Obligation (CLO). While in the GIC company, where he had been formerly employed, he had come up with assets worth close to $2 billion that he was in charge of and ended up managing them perfectly. His portfolio management consisted of loans, derivatives, bonds and market debts among many others. Apart from all this employment positions that he took up, he was also an employee of American Express. James Dondero graduated from Virginia University where he had majored in Finance and Accounting. He remains a notable figure in that university for having graduated with the highest honors (Beta Gamma Sigma, Beta Alpha Psi). He is a financial analyst apart from being a management accountant. He currently holds the positions of MGM Board of Directors and American Banknote. Apart from holding all this major positions he also happens to be the chairman for BOD of a company known as CCS. He is a very experienced individual (30 years) in the fields of credit market and equity market.

James Dondero is a very philanthropic individual and has done a lot of significant contributions that amount to goodwill and perfect welfare of people. His philanthropy is channeled out to individuals, companies and institutions especially those in legit need and those who happen to have varied want that they cannot achieve by themselves. He boasts of several awards that he has managed to achieve along the successful course of his career. The awards entail Lipper Award and Morning Star Award, which are very top notch awards. James Dondero together with Arthur Laffer was appointed to be on the board of directors of Nextpoint Residential (NXRT). NXRT is a company that is in charge of managing property owned by families whose salary is middle income. Average families to be precise. Highland Capital Market has expanded in growth, and one of its recent endeavors is its move to buy Nextpoint Credit Strategies Fund for $8.79 for each share. This was a big decision whereby Highland Capital Market decided to go ahead and further purchase a very large portion of next point’s shares which amounted to something close to 113,799 shares.

Susan McGalla Makes Her Mark

I am thrilled about the way that Susan McGalla has progressed over the years. She is such a powerful force in the industry today because she has become an expert in her field. I think that she is one of the best in the industry because she has such a strong presence.

As someone that has been in consultant and CEO positions she is definitely moving up in the career chain. I like what she represents, and her time at American Eagle is monumental in the progress that women are making in the corporate industry. There are so many people that have been inspired by her progress. I am one of the people that have been able to see her move from one area to another and witness her genius. She knows how to move consumers and she has the power to get them to respond to her. Over time there have been different female leaders that have risen to the challenge. What Susan McGalla has done that is different is give people access to the things that helped her. She highlights higher education as the foundation for her success. McGalla has also made a lot of appeals to women to have a level of determination in your pursuit of goals.

I have patterned myself after her and I have been able to embrace the challenges that have come along the way. She is no stranger to working her way up to the top. She was with American Eagle for 14 years. She built the company, and when she decided to depart the stock dropped upon anticipation of her departure. That is how confident people had become in her skills as a leader. Investors were willing to depart with her when she decided that she would no longer continue her CEO role there.

She has been able to make her mark and I appreciate all that she has done over the years. I think that her different roles in the industry has made her pretty diverse. She is a powerful retail branding expert, but her CEO role shows that she could lead. That is where she breaks out from the rest of the pact. I think that she has done something incredible by taking on leadership roles and moving beyond the typical corporate executive role. I think that McGalla has shown that women can be great leaders if they are given the opportunity. There is no denying that she is one of the best in the retail industry. I could only hope to accomplish a fraction of what she has achieved through such a prestigious career. She is my corporate businesswoman hero, and I appreciate her commitment to brand building.