The Charitable Work Of Tony Petrello

Houston oil executive Tony Petrello, who is the CEO of Nabors Industries, is a man of many interests. He is also a man who is deeply engaged with a range of charities, and he has long been committed to changing lives through his charitable interests.

Tony and his wife Cynthia recently opened up their home to host a special event that honors teachers who teach the arts in Houston area schools.

The event, which was highlighted by an appearance by legendary Broadway star Tommy Tune, was a cocktail party that included 50 guests as well as the advisory board of the Miller Outdoor Theater. Tony-award-winning Tommy Tune, who went to school in the Houston area and who studied dance with Houston dance instructor Patsy Swayze, was headlining at the Miller Outdoor Theater in his autobiographical show, “Tommy Tune Tonight.” The show was a major hit that brought 5,000 theater goers to the outdoor arena stage.


A Commitment to Philanthropy

There’s no question that Tony Petrello and his wife Cynthia have a huge commitment to helping others through charitable acts. Along with their commitment to helping support the performing arts, the Petrellos have also shown a strong commitment to helping people through support for scientific research. One event that has driven this commitment is their daughter Carena’s experience with cerebral palsy. Carena was born prematurely, and this left her with periventricular leukomalacia, a neurological disorder. Seeing their daughter struggle with this condition caused the Petrellos to commit more deeply to supporting the scientific community, in hopes of helping find a cure for this difficult condition. Tony Petrello has given $5 million to scientific research into helping those with cerebral palsy, and hopes to give and additional $2 million over time. The hope is that these funds can also help parents who are struggling to deal with the difficulties that come with learning one’s own child is coping with a neurological disorder, and to find ways to cope in a positive way.

In 2001 the Petrellos founded The Petrello Family Foundation. This foundation gives funds to groups in the Houston area that support the arts, education and medical research. This foundation is one more way that this dynamic couple gives back to their community, and to all of those who helped to support them through the many challenges they have faced along the way.

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U.S. Money Reserve’s Customers Steer Their Portfolios Through Today’s Uncertain Economy

A simple excursion to the grocery store provides a basic lesson on inflation to the average American consumer, “What happened to the price of orange juice?” While weather fluctuations and agricultural conditions affect the price, the cost of that half gallon represents a small variable in the larger equation that measures inflation. The terminology can be daunting: target inflation rate, core rate, federal funds rate, personal consumption expenditure.

Notwithstanding, there is an inflation measure, publicized on the evening news, the Consumer Price Index (CPI) which, when rising, indicates increases in the cost of everyday goods and services. With the current inflation rate in the U.S. at 2.1%, there is a degree of nervousness among market analysts about future upsurges.

With most incomes fixed until the annual pay review, monthly price rises are worrisome. Consequently, outlay increases for the same purchase, or purchases are postponed, in effect lowering the standard of living. The most dramatic examples are big-ticket items, evidenced by the cost of a new car, or building a house. Nonetheless, for the retired or those planning for retirement, the effects are acute. Inflation has the result of a pay cut, eroding the value of a retirement plan, directly impacting the retiree’s standard of living.

Closely following higher inflation are higher interest rates for mortgages, credit cards, and auto loans, nevertheless, savings account rates and money market rates lag, leading consumers to explore other options for protecting their funds. Accordingly, individuals might invest in artwork, commodities, or other tangible assets that increase in value with inflation. Ordinarily, a portfolio that includes gold is not subject to the vagaries of commodity bubbles. U.S. Money Reserve, founded in 2002, encourages consumers to include gold in their portfolio to both preserve capital and enhance capital growth. Philip N. Diehl, current president of U.S. Money Reserve, and a former director of the U.S. Mint noted, “Gold often rises when other assets are crashing.” Gold values consistently rise faster than inflation, accelerating whenever inflation exceeds 3%.

An established company with a customer focus, U.S. Money Reserve offers consumer education and information on precious metals from gold and silver bullion and bars to certified gold and silver coins authenticated by PCGS, the Professional Coin Grading Service. Staffed with a team of numismatic and precious metal experts, U.S. Money Reserve customers receive superior service, “… with the goal of establishing a long-term relationship.”