World’s Toughest Golf Courses - Bethpage Black

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A Chicago-based private investor, Paul Liska has held senior positions at many notable companies. Paul Liska has worked for Kraft General Foods, Sears Roebuck, and St. Paul Companies, to name a few. In his free time, Mr. Liska is an avid golfer and favors the Club at Wynstone, Castle Pines Country Club, and Winged Foot Country Club. All these clubs offer difficult courses, but for an extraordinary challenge many golfers’ first choice is Bethpage Black.

Bethpage State Park on Long Island has five golf courses, and the Black is the only one that merits a warning. A sign by the first tee cautions golfers, "The Black Course Is An Extremely Difficult Course Which We Recommend Only For Highly Skilled Golfers."

It has twice been the location for the U.S. Open. At the 2002 U.S. Open, the only golfer to break par for the course was Tiger Woods, who also won the event. Designed by A. W. Tillinghast, the course has narrow fairways, plateau greens, and a series of intentionally challenging holes that aren’t for the faint of heart. It consistently ranks among the 100 greatest golf courses in America.

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Commodities Hedging - An Important Skill in Business

Corporate Buildings
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Paul Liska is an experienced executive in the greater Chicago area with a long career working with some of the largest corporations in the world. Currently a private investor, Paul Liska has held senior and c-level positions at such companies as the Specialty Foods, Oscar Mayer Foods, and Kraft General Foods. In the latter two, his responsibilities included all aspects of financial planning including commodities hedging for the food giants.

Hedging is the process of mitigating risk through future agreements between two parties. For instance, farmers frequently agree to sell their upcoming harvest at a set price to avoid market vicissitudes when the harvests are coming in.

Hedging on commodities is a crucial skill in most industries that rely on large scale commodities trading. In the food industry, the price of feedstock can vary significantly in response to seasonal and environmental trends. Soybeans, for instance, see price spiking around harvest time, so knowing when to lock in a price both as a farmer and as a buyer is important to maintain reliable and cost-effective manufacturing.

An example of what the consequences of poor hedging can be is what happened in 2008 when the price of jet fuel spiked quickly and relatively unpredictably. Some smaller airlines were forced to file for bankruptcy protection and larger competitors posted significant losses for the period. Airlines that had long-standing practices of hedging, such as Southwest which has been hedging on fuel since 1999, benefited greatly during the period.

Nostradamus - French Thinker of the 15th Century Known for Prophecy

With a Chicago background, Paul Liska focuses on corporate growth and transformation strategies. Paul Liska has a passion for reading books on history, including biographical works. He recently enjoyed Nostradamus: A Life and Myth by John Hogue.

Living in the early 16th century, Michel de Nostradamus was a French physician who converted from Judaism to Christianity. He was notable for his knowledge of the occult and astrology, which were forbidden at the time by the Church and its emerging Inquisition. As a pagan theurgist, Nostradamus had written a bestselling book of predictions that attracted the attention of French nobility. 

Predictions that came true during Nostradamus’ time included the forecast that Henry of Navarre would emerge as the ruler of France. Nostradamus’ predictions were not limited to one era, and one of his most famous assertions was that the world would end on New Year’s Day, 2000. Although this did not come to pass, it has not dissuaded scholars from continuing to pore over Nostradamus’ texts for clues to possible future events.