by: Ronald E Springer |
| Copyright 2005 Ronald E Springer For years we’ve suffered under recession, prompting us to ask, When will it end? My answer is, “It’s only the beginning.” Historically, recessions are the result of high interest rates, pushed up as the result of loose money policies. Recovery comes when citizens begin to spend more wisely, save money and pay off their debts, but not this time. Never before have credit policies been so loose for so long, and there has been no decrease in consumer debt. It’s still on the rise, but Americans are NOT fundamentally to blame; immoral monetary policy is. Banks used to consider a safe loan applicant to have a 36% or less Debt to Income Ratio (debt divided by gross income). This percentage is a time-proven figure indicating the financial health of an individual. Now, during the worst economy in twenty years and with no signs of recovery, our banks gladly loan to applicants with a 56% Debt to Income. What has changed? Are banks suddenly more generous? I don’t think so. One good question to ask is, Why are banks willing to accept the additional risk? But the real question to ask is, Where is this money coming from? |
MORAL ARMOR'S Economic Warning for Americans
Childcare Management & Daycare Software
by: Jasmine Ong
Running a childcare facility can be an exhausting, 24/7 job. There are always kids to keep track of, records to update, fees to collect, bills to pay, reports to write, and so on. Often, your To-Do List seems both frighteningly endless and drearily cyclical.
Five Leadership Secrets for Challenging Times
by: Ed Sykes
We consistently face new and ever growing challenges in the workplace such as reorganizing, downsizing, and “left out sizing.” We are faced with the question, “How do we lead in this storm of change?” It may seem difficult at times and the decisions we make define our short-term and long-term outcomes. I will share with you five leadership techniques guaranteed to keep you on track during these difficult times. 1 Integrity.
I put this first because the lack of integrity will make or break you as a professional, as a leader, as a person in the long run. The lack of this will turn yesterday’s heroes in today’s villains. For example, “MCI was the apple of the business community’s eye. High revenues, high profits, and high growth; MCI was beating the competition hands down.
Then it was discovered that there were gross accounting irregularities that accounted for the astounding profits. You see, management made a decision, “Do I continue to sustain good growth and be able to look at myself in the mirror or do I cook the accounting books and spend the rest of my time covering up this integrity deficiency? The real shame of the MCI situation was that AT&T, Sprint, and others in the industry had to cut costs and lay off thousands of employees to compete with MCI’s false numbers. The lack of integrity at MCI not only affected the company but also the livelihood of thousands and the industry as a whole.
I was recently speaking with a recently retired City Council member who is well respected in the community. I asked her what the secret was to her success while on the council? She mentioned that one of her political adversaries said to her, “While you were on the council, I didn’t like the way you voted, but I respected the way you voted because you were consistent with your votes and had the city’s best interest in mind.”
Is It Necessary To Have a Business Plan?
by: scott morris
Are you planning to start a new business? Or are you considering expanding your current business and require a bank loan or investment from outsiders? If you are going to look for an investment of capital it is quite likely that you will be required to have a business plan. If you are starting a business, despite the work involved, a business plan can prepare you for the obstacles ahead and help ensure your success.
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