CNBC Interview Trujillo re: Cell Phone Industry & Regulation

A questioned was posed regarding the cell phone industry now dominated by two players regarding whether this should be a concern.

The question made me consider other industries today:

Mortgage Servicing (the lenders who collect are mortgage payments): two players Wells Fargo and Bank of America collect between 25 and 50% of all mortgage payments!

Retail: How large is too large Walmart?

Banking: How substantive should deposits, credit cards, and other banking services be concentrated in the hands of Bank of America, JP Morgan, and Citicorp?

I undoubtedly am failing to identify similar concentration in many other industries. Your thoughts?

Credit and debt challenged?

Explore the videos posted under web sites of interest and labeled, "Debt management education videos of value".

Quote from "Mind over money" on consumers

"The American consumer: Someone who knows the cost of everything, but the value of nothing."

"Why we fail financially"

Wayne Vance & Edward Charlesworth in "Mind over money" offer the following reasons:

1. Lack of financial training at home.
2. Lack of financial education at school.
3. Biased commission schedule in financial institutions.
4. Low self-esteem.
5. Attempts to buy happiness.

To this list I would add:

1. Fear.
2. Our tendency to avoid open communication around money issues.
3. Uninformed reactivity to media sources.
4. Attachment.
5. The lure of advertising.

“11 ways to improve your financial self now”, by Carla Fried et al, June 2009 Money Magazine:

I offer the following summary of this useful article.  The authors identify 11 ways to potentially improve your financial position including:

1. Periodically rebalance your investment portfolio.  Doing so annually, or semi-annually can boost returns substantially.
2. Stay away from investing in U.S. Treasuries. With rates on U.S. Treasuries so low, consider higher returning alternative (I would recommend caution here it may be getting late for this idea).
3. Set realistic investment goals.  Consider the impact of lessened returns on your investment, on your home, for the next few years.  What if any changes do you need to consider as a result of such potential changes? 
4. If you own your home and have mortgage debt, consider refinancing.  Rates remain near record lows.
5. Work at improving your credit score.  See www.myfico.com for useful ideas.
6. Consider whether any of your monthly services subscribed to could be reduced or negotiated.
7. Turn off the T.V. particularly shows that make you lust for more things in your life.
8. Evaluate your current insurance policies and consider ways to reduce risks and lower costs.
9. Take advantage of a health care coach, if your company provides one. Exercise and weight loss are great ways to lessen stress in our lives.
10. Consider volunteering as able for your own well-being and for others.
11. Build up your emergency fund as able to cover 6 to 9-months of living expenses.

Indeed.com

There are many outlets online to help in job searches, I have found Indeed.com very helpful, particularly their email notification of job postings matching your location and search profile.  Give it a try!

CCCS vs. Debt Consolidators

The Suze Orman Show responded to an inquiry regarding the difference between Consumer Credit Counseling Services (CCCS) and Debt Consolidators (DC).  Suze endorses CCCS as they are non-profits who work comprehensively with clients to help them better manage their debts.  They typically do not charge a substantive up-front fee. DC on the other hand, charge an up-front fee of substance and charge a portion of money saved for consumers to their clients. DC's are typically for profit entities.

APA's Managing stress in tough economic times

I just added a useful link to the APA's online publication "Managing stress in tough economic times".  See favorite web sites listed under APA. 

Working longer, with fewer benefits | Cincinnati Enquirer | Cincinnati.Com

Working longer, with fewer benefits | Cincinnati Enquirer | Cincinnati.Com

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In reality, deciding who's 'Gotta Go' is complex | Cincinnati Enquirer | Cincinnati.Com

In reality, deciding who's 'Gotta Go' is complex | Cincinnati Enquirer | Cincinnati.Com

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Working longer, with fewer benefits | Cincinnati Enquirer | Cincinnati.Com

Working longer, with fewer benefits | Cincinnati Enquirer | Cincinnati.Com

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Shift from big to small employer changes mindset | Cincinnati Enquirer | Cincinnati.Com

Shift from big to small employer changes mindset | Cincinnati Enquirer | Cincinnati.Com

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Shed shame of job loss and seek support | Cincinnati Enquirer | Cincinnati.Com

Shed shame of job loss and seek support | Cincinnati Enquirer | Cincinnati.Com

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"Finding the sweet spot" by Dave Pollard

I read an inspiring review of this work in Ode Magazine's April 2009 issue. Promotes entrepreneurism in this challenging economy and offers guidance on developing an entrepreneurial enterprise safely. Looks like a must read, and it is available at the Jefferson County Library!

By the way, Ode Magazine is always worth reading. You can explore it via the web at: www.odemagazine.com.

Connecting across generations builds teams | Cincinnati Enquirer | Cincinnati.Com

Connecting across generations builds teams | Cincinnati Enquirer | Cincinnati.Com

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Hiring managers feel strain of job hunt | Cincinnati Enquirer | Cincinnati.Com

Hiring managers feel strain of job hunt | Cincinnati Enquirer | Cincinnati.Com

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Elevator speech guidance

The following is by way of the Birmingham News online:  

http://strategicbusinessnetwork.com/BirminghamNews

Gender roles see a 'conflict' shift | Cincinnati Enquirer | Cincinnati.Com

Gender roles see a 'conflict' shift | Cincinnati Enquirer | Cincinnati.Com

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2009 - Refinance and Home Purchase Opportunity Now

The Federal Reserve (Fed) is in the midst of unprecedented support for the mortgage market as they are buying $1.25 trillion in FNMA, FHLMC, and GNMA mortgage-backed securities (MBS). MBS are groups of mortgage loans assembled together as an investment. This support has driven interest rates to record low levels. It is time to refinance, even if you did so this past year. It may also be time to consider purchasing a home if you are moved to do so and have the means and disposable income to support such a move. As always, consider the cost of home ownership versus rental costs. Do not overpay for the right to own.

The Fed will likely stop buying MBS as year end approaches. Do not expect low rates to last into next year.

When teams change, build relationships | Cincinnati Enquirer | Cincinnati.Com

When teams change, build relationships | Cincinnati Enquirer | Cincinnati.Com

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Don't worry, arm yourself for future | Cincinnati Enquirer | Cincinnati.Com

Don't worry, arm yourself for future | Cincinnati Enquirer | Cincinnati.Com

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Re-evaluate abilities to change careers | Cincinnati Enquirer | Cincinnati.Com

Re-evaluate abilities to change careers | Cincinnati Enquirer | Cincinnati.Com

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Managing transitions

From WIlliam Bridges, "transition as the natural process of disorientation and reorientation that marks the turning points of the path of growth".

When prompted for a profile...

Feel free to post anonymously if desired.  Thank you for visiting. Stu

War and money

I have been reading Deborah Price's "Money Magic" and I am struck by the long-term historical relationship between war and empire building, and the strains such action place on a nation's currency and its ultimate place in the world. How much of today's challenges in the United States can and should be attributed to our long history of involvement in Iraq, Afghanistan, and other places of conflict? 

Are you attached to a number?

Many individuals allow their savings and investment value or their net worth (assets - liabilities) to define their self worth or in extreme cases who they are. Do not allow this to happen to you or to your loved ones.  At a time of declining stock and investment values, this bad habit can be particularly troublesome.

The Market in the New Year

I was listening to El-Erian of PIMCO, a major money management firm and fixed income investor, on CNBC and he shared that the government will have a major influence on the pricing of assets in the months ahead.  He reminds us that the Treasury has committed to buy $500 billion in mortgage-backed securities in the next 6 to 9-months.  They will literally buy most of the newly produced mortgage assets.  This will keep mortgage rates low.  How the treasury finances this debt will  impact treasury rates.  If they print new money, the dollar will lose value, and treasury rates will remain low.  If they issue more treasuries to finance their purchases, treasury rates will increase.  Stocks?  Stocks will respond to anticipated earnings for companies, with treasury rates serving as an influencing factor, but not the most important factor.  I would expect stocks to continue to be troubled till May or thereabouts.  Time will tell.

Finding solutions

Together through open, compassionate, caring communication we can find comfort from our financial stresses and solutions to financial challenges.  I hope this site becomes a home for such a community of common interest and concern.