Linda Nunnallee Helping people help themselves

first_imgphotograph by Juli Leonardby Todd CohenLinda Nunnallee believes that building relationships is indispensable to serving people. The executive director of StepUp Raleigh, a nonprofit that helps adults and children build stable lives through jobs and life skills training, she says it’s a lesson she learned early: First at home, then in the advertising business, and finally in the nonprofit sector.Today she credits solid relationships with helping her run an agency that provides low-income and homeless individuals in Wake County with job training and placement, vocational training, and life skills development. Last year, StepUp placed 380 unemployed, low-wage and homeless individuals in jobs ranging from food services and hospitality to automotive mechanics and fiber optics, with an average hourly wage of $10.64.Nunnallee comes to the job with broad experience. A Florida native, she spent 12 years at an ad agency and worked for an accounting firm before becoming a fundraiser for SAFEchild, a Raleigh nonprofit that works to eliminate child abuse. She helped to launch SAFEChild as president of the Junior League, then served on its board before going to work for the agency.She arrived with the knowledge that relationships were vital. As an advertising account executive, “I had to have a good relationship with the client, with the creative people, with the media people.” In nonprofits, too, she says, “it’s all about relationships – with the people who come through our program, our volunteers, board of directors, staff members, employers, donors, and the different churches that house our programs. It’s all about relationships.”Good relationships need to get off on the right foot, and Nunnallee credits her parents with teaching her invaluable lessons about seeing the good in people.“My dad said, ‘People are good. If you’re good to people, they’ll be good to you.’ He always looked for the good in people, and always found it.’ The lesson I learned from my mom is to always do it right. She would say, ‘Our reputation is who we are, and we need to do things the best we can, because if we do that, we’ll never have to second guess who we are.’ ”To me, philanthropy means giving a piece of your heart to somebody or something that needs it more than you do.At SAFEchild, we met people where they are and not where we want them to be. Without that understanding, you can’t reach people. I learned everything I know about development from Marjorie Menestres, executive director at SAFEchild. She was my mentor and still is.Both SAFEchild and StepUp work to help people learn lessons that, for whatever reason, they have not learned on their own. At SAFEchild, it’s parenting. At StepUp, it’s how to prepare yourself for employment, to get a job, balance a budget, set goals and create a more stable environment for yourself and your family. Everybody comes to us from a different place, but almost everybody comes in crisis. And if we don’t have that compassion and understanding to meet people where they are, then we’re not going to be successful, nor will we be able to help people who need our help be successful.Everybody wants to feel the validity of their life. I get so much joy out of watching, at StepUp, people who enter this program in such crisis, and leave this program with everything we have offered them, and are able to actually create a life and an environment that is stable and safe for themselves and their family.I have a daughter, Claire, and a son, Andy. Claire is 29, a radiology technician at WakeMed. Andy is 27. He works at the business office at IMC Research Corp. in town.The beauty of Raleigh is what has stayed the same. It’s a community of relationships. It’s like a big town. When people are in need, this community rallies around. It’s progressive but it honors tradition.In Raleigh, I admire Danny Rosin, the founder of Band Together N.C., and his unwavering passion and tenacity to improve the community. He and a group of friends witnessed the destruction of 9/11 and through tears and passion decided they would do something about it. What they did was create events with live music and bands to support nonprofits in the community, making it a platform to do good and an agent for change.I am reading Start with Why, by Simon Sinek. We can all talk about how we do things and what we do, but until we get to the why and the story behind it, it doesn’t really have a purpose.I don’t like change for change’s sake, but I don’t want to ever sit still. I think there’s always room to grow. When I stop doing that and become idle is when the adrenalinequits flowing.last_img

Press Release Raytheon and UTC businesses to combine

first_imgRaytheon Company and United Technologies Corp. have entered into an agreement to combine in an all-stock merger of equals.The transaction will create a premier systems provider with advanced technologies to address rapidly growing segments within aerospace and defense.The merger of Raytheon, a leading defense company, and United Technologies, a leading aerospace company, comprised of Collins Aerospace and Pratt & Whitney, will offer a complementary portfolio of platform-agnostic aerospace and defense technologies.The combined company, which will be named Raytheon Technologies Corporation, will offer expanded technology and R&D capabilities to deliver innovative and cost-effective solutions aligned with customer priorities and the national defense strategies of the U.S. and its allies and friends. The combination excludes Otis and Carrier, which are expected to be separated from United Technologies in the first half of 2020 as previously announced.The combined company will have approximately $74 billion in pro forma 2019 sales. With a strong balance sheet and robust cash generation, Raytheon Technologies will enjoy enhanced resources and financial flexibility to support significant R&D and capital investment through business cycles.Under the terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, Raytheon shareowners will receive 2.3348 shares in the combined company for each Raytheon share. Upon completion of the merger, United Technologies shareowners will own approximately 57 percent and Raytheon shareowners will own approximately 43 percent of the combined company on a fully diluted basis.The merger is expected to close in the first half of 2020, following completion by United Technologies of the previously announced separation of its Otis and Carrier businesses. The timing of the separation of Otis and Carrier is not expected to be affected by the proposed merger and remains on track for completion in the first half of 2020. The merger is intended to qualify as a tax-free reorganization for U.S. federal income tax purposes.“Today is an exciting and transformational day for our companies, and one that brings with it tremendous opportunity for our future success. Raytheon Technologies will continue a legacy of innovation with an expanded aerospace and defense portfolio supported by the world’s most dedicated workforce,” said Tom Kennedy, Raytheon Chairman and CEO. “With our enhanced capabilities, we will deliver value to our customers by anticipating and addressing their most complex challenges, while delivering significant value to shareowners.”“The combination of United Technologies and Raytheon will define the future of aerospace and defense,” said Greg Hayes, United Technologies Chairman and CEO. “Our two companies have iconic brands that share a long history of innovation, customer focus and proven execution. By joining forces, we will have unsurpassed technology and expanded R&D capabilities that will allow us to invest through business cycles and address our customers’ highest priorities. Merging our portfolios will also deliver cost and revenue synergies that will create long-term value for our customers and shareowners.”Combination to Create Long-Term ValueBalanced and diversified aerospace and defense portfolio that is resilient across business cycles: The merger establishes a broad and complementary portfolio of platform-agnostic capabilities across the high-growth segments of aerospace and defense, reducing risk of concentration in any individual platform or program. Complementary company culture: The combined company will have a strong performance-based culture focused on integrity, collaboration, innovation, diversity and corporate social responsibility. Employees will have expanded opportunities for career development and advancement in high-growth areas, as well as ongoing engagement in local communities.Pro Forma Business StructureRaytheon plans to consolidate its four businesses into two businesses to be named Intelligence, Space & Airborne Systems and Integrated Defense & Missile Systems. The new businesses will join Collins Aerospace and Pratt & Whitney to form the four businesses of Raytheon Technologies.Pro Forma Capital StructureNet debt for the combined company at the time of closing is expected to be approximately $26 billion, with United Technologies expected to contribute approximately $24 billion. The combined company targets an ‘A’ category credit rating at the time of the closing.Leadership and GovernanceThe combined company’s Board of Directors will be comprised of 15 members, consisting of 8 directors from United Technologies and 7 from Raytheon, with the lead director from Raytheon. Tom Kennedy will be appointed Executive Chairman and Greg Hayes will be named CEO of Raytheon Technologies. Two years following the close of the transaction, Hayes will assume the role of Chairman and CEO.Raytheon Technologies will be headquartered in the greater Boston metro area, and will retain a corporate presence in existing locations. The company will be led by a highly experienced, proven leadership team with a strong track record of innovation, delivering on synergies, and meeting financial and customer commitments.Timing and ClosingThe transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals, the approval of Raytheon and United Technologies shareowners, as well as completion by United Technologies of the separation of its Otis and Carrier businesses.  As previously mentioned, the transaction is expected to close in the first half of 2020.2019 Financial Outlook There is no change to either Raytheon’s or United Technologies’ financial outlook for 2019.AdvisorsCitigroup Global Markets Inc. is acting as financial advisor to Raytheon, and RBC Capital Markets LLC provided a fairness opinion. Shearman & Sterling LLP is serving as legal advisor to Raytheon. Morgan Stanley & Co. LLC, Evercore, and Goldman Sachs & Co. LLC are acting as financial advisors to United Technologies. Wachtell, Lipton, Rosen & Katz is serving as legal advisor to United Technologies.Conference CallA conference call to discuss the merger will be held tomorrow, June 10, 2019 at 8:00 a.m. EDT. Participants will include Tom Kennedy, Chairman and CEO of Raytheon; Greg Hayes, Chairman and CEO of United Technologies; Toby O’Brien, vice president and Chief Financial Officer of Raytheon; and Akhil Johri, executive vice president and Chief Financial Officer of United Technologies.The dial-in number for the conference call will be (877) 280-7280. The conference call will also be audiocast online at and Individuals may listen to the call and download charts that will be used during the call. These charts will be available prior to the call. Interested parties are encouraged to check the website ahead of time to ensure their computers are configured for the audio stream.Transaction WebsiteAdditional information on the merger and related materials can be found on a joint transaction website at RaytheonRaytheon Company is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation, Raytheon provides state-of-the-art electronics, mission systems integration, C5I® products and services, sensing, effects and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts.About United TechnologiesUnited Technologies Corp., based in Farmington, Connecticut, provides high technology products and services to the building and aerospace industries. By combining a passion for science with precision engineering, the company is creating smart, sustainable solutions the world needs. Highly complementary technology and R&D platform: With a combined annual company and customer funded R&D spend of approximately $8 billion, seven technology Centers of Excellence, and over 60,000 engineers, the company will develop new, critical technologies faster and more efficiently than ever before. Areas of joint advancement include, but are not limited to: hypersonics and future missile systems; directed energy weapons; intelligence, surveillance, and reconnaissance (ISR) in contested environments; cyber protection for connected aircraft; next generation connected airspace; and advanced analytics and artificial intelligence for commercial aviation.center_img Attractive financial profile with strong cash flow generation and balance sheet: Robust free cash flow growth and a strong balance sheet will support continued investment and return of capital to shareowners. The combined company expects to return $18 to $20 billion of capital to shareowners in the first 36 months following completion of the merger. As a result of the combination, the company also expects to capture more than $1 billion in gross annual run-rate cost synergies by year four post-close, with approximately $500 million in annual savings returned to customers. In addition, the combination presents significant long-term revenue opportunities from technology synergies.last_img