It's no surprise that businesses are slashing jobs and budgets left and right. However, even those who haven't lost their jobs are feeling the pain, and MTA customers will too, as early as June 2009. The MTA has formulated a budget that will raise the $2 fare to $2.50, and raise the express bus fare to $7 from $5. Also, the MTA will completely eliminate the W and Z lines, and over 140 bus routes. The monopoly stated that train and bus service was going to be less frequent. It's not fair to cut down service and raise the price. If I'm paying more money, I should be getting more satisfaction. Instead I'm getting more nonsense! Because the MTA is a monopoly, they can raise the prices as much as they want and are not obligated to provide outstanding service. And yet, they always encourage individuals to drive less and utilize the mass transit system. If the MTA is going to provide slow service on nights and weekends, it should be free! I think the government should take over the MTA.

Longest Recession since 1947

Some economists now believe that the current recession could be the longest since the last 60 years. And if some of the GDP predictions are true for early 2009, unemployment will rise drastically as well.

Merrill Lynch CEO Fights for Bonus

In the middle of these economic hardships that has resulted in job losses that tip the scale and sinking corporate profits, many high-profile executives are opting to do without their bonuses this year. But Merrill Lynch CEO John Thain, (whose company just received shareholder approval to be sold to Bank of America), is in a dispute with Merrill Lynch's board over whether he should get a $10 million check. Millions loose jobs and he's fighting a million people for $10 million...so sad!

More Businesses, More Cuts!

So again in business we have another business cutting jobs - they happen to be a very big operation, Dows Chemicals. They happen to be one of the largest chemical makers in the world and they're cutting 5,000 full-time jobs. That is about 11 percent of its total work force -- "close 20 plants and sell several businesses to reign in costs amid the economic recession."

They May Have a Chance After-all

So after all this talk and blogs about the Big Three, and the chances of the bailout looking slim and then not so long, it looks like they may have a chance after-all. I personally don't have anything against, i do not like have they run their businesses, I just like the other billions of Americans, and tax-payers and Bush (apparently) do NOT want to see efforts, time, and most importantly money be wasted! Congress proposed an emergency $15 billion aid package for the Big Three. The measure would speed short-term help to General Motors, Ford and Chrysler, while allowing the government to "slap them with tighter restrictions."

3M Cutting 1,800 Jobs Worldwide

The giant manufacturer 3M says that it will cut 1,800 jobs in the fourth quarter and demanding some workers to take vacation or unpaid time off for the last two weeks of the year.

23rd Bank of the Year

Federal regulators announce that they have seized First Georgia Community Bank, the 23rd FDIC-insured bank to fail this year. Just last week, the FDIC said that the number of "problem banks" has grown to 171 during the third quarter - "the highest since 1995." Shocking but still true...

The Big Three...Stooges

So- I've come to the conclusion that Detroit's "Big 3 Stooges" (as The New York Post puts it) most popularly known as The Big Three are entirely clueless. In simple words, The Big Three asked for a big bailout- or "bridge loan" as they so eloquently worded it-that would cost taxpayers $34 billion dollars. Okay- that's not even right! I did appreciate President Bush actually siding with the American people, the ones struggling through all this mess. Bush stated, "No matter how important the autos are to our economy, we don't want to put good money after bad." Thanks, Bush! That might be one of the only things I ever agreed with him on.

Big Three...Again...

Chicago's Big Three CEOs return to Capitol Hill, making a new plea for $34 billion in taxpayer money for thier bailout. Autoworkers union president Ron Gettelfinger warns that without help from Congress, "I believe we could lose General Motors by the end of this month." General Motors has been a succesful, the succesful American "brand" and they even just recently had their 100 year Anniversary. It would be a disaster to the American world of business and our economy if they do not make it.

Job Cuts!

Sad to say the government released information saying that more than 15,000 layoffs, on top of 10,000 more high-profile layoffs were disclosed this week. I hope our economy isnt about to crumble. I believe it's hitting us so hard now because the government has been trying to hide it from the public for a while...

Detroit's Desperate Big 3 Ask for Billions

In reponse to Congress' order for automakers new plans before they considerate the bailout Detroit's automakers give plans to cut costs and return to health. They also include nominal salaries even for top executives -- "each CEO will earn only $1 -- as well as broad cuts in staff, brands, and of course, private jets."

Automakers Can't Outrace Their Past

"After spending much of the decade driving sales unnaturally high through excessive incentives and generous credit, America's desperate automakers" -- back in Washington this week aiming for the bail out, "now find their old methods have caught up with them." This is a good example of bad business management.

Stock Picks and Pans for Troubled Times

The market's gains this week are no doubt encouraging, but we're still working our way through the bear market, and a recovery will take some time... lots of time. Hopefully Obama and his plans for our economy and nation can pull things through!

Black Friday Not So Dull, Afterall

Our countries retailers got a "much-needed" sales boost during Black Friday's traditional shop-a-thon. Costumers crowded every store, got deep discounts, spent nearly 3 percent more than they did last year, according to preliminary figures. This was actually pretty surprising to me, with the economy's poor-standing.

Wal-Mart Worker Trampled to Death

Black Friday has a body count: A Wal-Mart worker is pronounced dead, trampled by shoppers who according to a police statement "physically broke down the doors, knocking him to the ground," as the Long Island store opened Friday morning. Police are reviewing store surveillance footage in hopes of identifying the culprits. I think this goes to show the level of integrity that people have nowadays. It also, shows the crazy world we live in.

Goldman Sachs Closer to Becoming Bank

Two months after the Federal Reserve approves its request to be designated a bank holding company, Goldman Sachs Group wins a charter from New York State banking regulators, permitting the financial big to open bank branches in New York and surrounding mid-Atlantic states.javascript:void(0)

US Bets $800 Billion on Consumers

After a deepening financial crisis made it virtually impossible for many consumers and businesses to borrow money, the Federal Reserve and Treasury Department create new programs that dipense $800 billion into the economy. The plan is aimed at "unfreezing" the credit markets by helping companies that issue credit cards, make student loans and finance car purchases and by buying mortgage-backed assets.
I think this is a good start in the recovery process of our crippled economy.

Why Citigroup Got Detroit's Money

Congress spends two days in deep decision pertaining to Detroit's "desperate" automakers. Not only are their request delayed but now they must also give Congress their strategies for existing as businesses. But why is this when the Treasury Department and the Federal Reserve pledge $20 billion to Citigroup, plus a $25 billion investment they received a month ago. I wonder what Congress' reason is for having more faith in the bank, Citigroup.

Obama Offers Job Creation Plan

Obama promises a jobs program to build roads and bridges while modernizing schools and developing alternative energy solutions. The program would create 2.5 million jobs by 2011. In Saturday's weekly Democratic radio address, now also broadcast on the Internet, Barack Obama says he wants Congress to pass the measure quickly after he takes office. I like the path Obama is heading in. He isnt yet in office and showing us the change that he spoke so much about.

Citigroup Rescue Plan in the Works?

After a week of seeing Citigroup's stock take a nosedive, the government considers a strategy to rescue the nation's second-largest bank, considered a "linchpin" in the financial industry.

Wal-Mart Names Successor to CEO Scott

The world's largest retailer announces that its board has elected its international chief Mike Duke to succeed Lee Scott as president and CEO when he retires from those positions in February. Much good fortune to Wal-mart. It's such a successful business!

Oil Ends Day Under $50 a Barrel

The slow demand for fuel pushes oil prices as low as $48.50 a barrel "-- two-thirds lower than the record $147 reached in July --" before closing at $49.62, a 3 1/2-year low. The nationwide average retail price of regular gasoline could easily fall below $2 per gallon overnight.

Lawmakers Delay Aid to Automakers

A bipartisan proposal to repurpose $25 billion in automaker loans intended for fuel-efficiency development is held up. Senate leaders are demanding Detroit's Big Three to present plans for a "long-term survival." It makes sense, why loan such a multitude of money and give to the same people who ended up in these some problems that may be reoccuring. I don't blame the senators.

Paulson, Bernanke Defend Bailout Plan

Months in discussing the bailout plan and testifying before a congressional panel, Treasury Secretary Henry Paulson and Fed chairman Ben Bernanke defend of the $700 billion financial bailout after declining the original strategy to buy toxic debt from banks. "There is no playbook for responding to turmoil we have never faced," Paulson says. "We adjusted our strategy to reflect the facts of a severe market crisis."

Yahoo Chief Jerry Yang Will Step Down

Yahoo Inc. announces that company co-founder Jerry Yang will resign as the struggling Web portal's chief executive. This also happens "in the wake of a tide" of shareholder anger over the rejection of Microsoft's acquisition efforts this year.

Citi CEO in Some Heat?

At a town hall meeting scheduled for Monday, Citigroup CEO Vikram Pandit, is expected to face some tough questions from employees on the direction of the bank. He has also been the subject of tough criticism since taking the "helm" less than a year ago. I think its only a matter of time before other financially unstable banks in the country come to fall, sad to say.

Summit Leaders Agree to Act Together

In a two-day summit, President Bush and leaders from 20 other countries agree to discuss plans to revive their economies. the meeting, however, is slim on "concrete proposals", with most details to be worked out by finance ministers in the coming months and beyond.

Auto Bailout May Lack Lawmaker Support

Democrat lawmakers try to come up with a plan to help keep Detroit's struggling Big Three, Senate Banking Committee chairman (Chris Dodd) warns that legislation to aid automakers doesn't have the support to pass Congress. I think we should help these automakers because they play a significant value in American success in business.

New Legislation Would Aid Automakers

As automakers seek for the government's help, the head of the House Financial Services Committee is "devising legislation" that would use part of the financial industry's $700 billion bailout package to buy stakes in Detroit's three automakers.

What Does Pelosi say about the Bailout for Automakers?

In response of the financial reports from General Motors and Ford Motor, Pelosi -- House of Representative speaker, backs them calling for, "emergency and limited financial assistance."

Circuit City Files for Bankruptcy

A week after electronics retailer Circuit City announced that it would close 155 stores and lay off thousands of workers, they file for bankruptcy. This was one of my favorite electronics stores and it's ashame that our businesses are suffuring because of the economies state.

The O-conomy

http://www.barackobama.com/issues/economy/


Obama introduces an act to give a tax credit to business that maintain their headquarters in the U.S., pay decent wages, prepare workers for retirement, and provide Americans with more full-time jobs. In my opinion, this is a great step towards rebuilding the "strong fundamentals of the economy" that McCain swears exists. I can appreciate this because when I call Verizon about my bill being higher than expected, I want to speak to someone whose native language is English. I can also appreciate the fact that this plan could (I'm not saying it will, but it definitely has the potential to) change the face (and the fundamentals) of our economy.

Obama Vows Swift Action on Economy

Barack Obama held his first news conference as president to be elected following a meeting with Joe Biden and top advisers on the economy. While stressing that President Bush still holds the reins of the nation, Obama vows to "confront this economic crisis head-on" as soon as he takes office.

Desperate Detroit Comes to Washington

House Speaker Nancy Pelosi meets with the chiefs of Detroit's three (General Motors, Ford, and Chrysler) that are in unfortunate circumstances right now. They are meeting to making their case for federal aid.

"YES WE CAN!"

"Yes we can!" -- On Tuesday 4th November 2008 at approximately 11pm Senator Barak Obama was elected to serve as the next president of the United States of America. I was ecstatic... everyone was! He was the first African-American to be elected to serve our country. This is an event that is beyond historic. I am also honored to know that I was apart of it. This event says a lot. American can finally be recognized as a country of equal opportunity. Coming from a country that African-Americans were considered to be lesser than a man. We can know call our leader a black man. This is a moment in history that all African-Americans, minorities, Africans, even White-Americans support us can rejoice in.

Why would the bail out make us mad?

Are these companies and individuals getting help from the government during this "economic crisis adding insult to injury with their actions?" We will find some recent headlines pretty appalling. For example AIG's wasteful expenses and even CEOs leaving and making millions.

Bill Collectors Making Few Friends

Many Americans now find themselves in debt and pursued by collection agencies. The Federal Trade Commission says nearly 71,000 consumers filed complaints about harassment from bill collectors last year, this is two-times the number four years earlier.

Not Motorola?

Motorola is also a huge and successful company that isnt seeing dull days. Breaking reports that the technology and communications company Motorola will cut thousands of employees in its cell-phone division.

Huge Job Cut

As part of a cost-cutting plan that is expected to save the company $1.8 billion next year, credit card giant American Express announces that it will cut 7,000 jobs. They are making this move because credit card companies report results that cardholders have trouble paying off debt and pull back their spending.

A Recessions to Come

The economy shrinks at a 0.3 percent annual rate over the last quarter as consumers cut back on their spending by the biggest amount in 28 years -- the most obvious sign that the country is soon to see a recession.

Governors Seek Bailout for Automakers

So not only do the banks need a bail out but apparently automakers do to. The governors of Michigan, Delaware, Kentucky, New York, Ohio and South Dakota petition Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke for action to help the countries struggling automakers.

Fed Funds May Enable GM-Chrysler Deal

Hurting by both the credit crisis and this summer's high in gas prices, automakers may soon be from our tax dollars for in their assistance. This could also help funding for General Motors to acquire Chrysler.

Mortgage Crisis

Thousands of Americans lost their homes each day over the last quarter as they failed to keep up with their mortgage payments.

Mortgage Crisis

Thousands of Americans lost their homes each day over the last quarter as they failed to keep up with their mortgage payments.

Oil Still Falls Despite OPEC's Moves

Opposing OPEC's most recent move to reduce supply, crude oil futures go back to last week's fall, "driven below $63 per barrel in intraday trading by economic uncertainty around the globe." Gas prices have also fallen by about $1 per gallon in the last month.

the dying economy

I attended a poetry recital recently. In between recitals, the host opened up discussion to concerns such as education, the economy, health care- basically all kinds of politics. The main topic of discussion was the diminishing middle class. They said the middle class is panicking, they dont have this or that, but now they know what a typical African-American is born into and exposed to everyday. "They wait until the upper class is in jeopardy before they finally do something about our everyday struggle."

Oil Falls to 16-Month-Low $66.75 a Barrel

New evidence of sliding demand for fuel pushes the price of crude oil futures below $67 per barrel, a level last reached in June 2007. Oil prices have fallen more than 54 percent from crude's all-time high, reached in July.

How Bad Could a Recession Get?

Some economists say the nation's economy contracted from July to September, and many expect it to continue shrinking through the first half of 2009, resulting in a despression. How bad could a recession actually get, and how can we get out of it. I think Obama can help and may be our answer!

Bargains Abound in this Battered Market

It's a well known marketing rule..."Buy low, sell high." The market may take a while to go back to its goodstanding which was about 12 months ago. "In his weekly Comfort Zone Investing feature, BloggingStocks contributor Ted Allrich suggests a list of undervalued companies poised for a strong comeback." I think as a result of the economies current status many businesses will future and as for the buying love and selling high rule many businesses may have to sell even higher. This would effect whether the consumer will buy certain products or not or even if they can afford them or not.

Tech Rivals Set to Report Earnings

Being that the stock market is back in business, investors shift focus to the fundamentals: earnings season. Will Apple and Microsoft echo the strong third-quarter results reported last week by Google and IBM? BloggingStocks contributor Trey Thoelcke offers his preview of this week's earnings.

Banco Santander to Acquire Sovereign

Echoing a wave of earlier consolidation in the banking industry, Banco Santander of Spain, which already owns 25 percent of Sovereign Bancorp, agrees to buy the remaining stake in the large Philadelphia thrift.

GM Announces 2 Plant Closures

General Motors announced that it would stop operations at a Wisconsin plant that makes the GMC Yukon and the Chevrolet Tahoe and Suburban SUVs in December. The company also disclosed that it will close a Michigan metal stamping plant. These closures will affect more than 2,500 employees.

Has the Market Finally Turned a Corner?

Stats show that our once crippled market may be making a slight turn-around. Today the market has closed with 900 points...a record-breaker.

How the Economy Affects You: Job Market

Some economists predict that by 2009, 1 million jobs will be lost. How frightening is that? A lot of the job losses are due to the failing economy, and part of the failing economy is due to outsourcing and illegal immigrants working for low pay. Go figure. If we weren't outsourcing, there would be more jobs available to U.S. citizens. If we really cracked down on illegal immigration, cheap labor wouldn't be an option to employers and more Americans would have jobs. If more jobs were available to Americans, the economy would be so much better because more people would have money to put into the economy. But people can't put money into the economy if they can barely afford to take care of their own families, right? What a tangled web!

Wall Street's Fault, Not Mine

Where did this economic mess begin? It pretty much came from several years of carelessly granting morgage loans and negotiations made through Wall Street. In 2001, professionals and officials knew the idea of a recession was not farfetched, so the Federal Reserve come up with this "genius" idea to slash morgage loan rates to 1% to bring back the economy, which, in turn, allowed people to basically buy homes they couldn't afford, causing them to default on their loans, which killed the economy within a matter of years. Simultaneously, Wall Street decided to split the riskiest morgages amongst several different investors to trade and sell. Unfortunately, people defaulted on their loans causing the housing market to crash.

In order to fix our little predicament, we need some money, right? Of course we do! And where will a lot of it come from? Oh, you guessed it; TAXPAYERS LIKE YOU AND ME! I don't own a house, never tried to buy one either. I can barely keep up with the stock market. I had nothing to do with this, so my question is, why am I paying for it?

Crunch Time

Because of the state of the economy, a lot of consumers are spending cautiously, sticking to necessities at bargain prices. During a time when no one knows what the future holds or where the economy will go from here, it's hard to splurge because people are preparing for the worst. Debts are high and the job market is terrible. This is a crucial time to really save money and hold on to it until things get better. Looks like Black Friday and holiday shopping are going to be at an all time low this year.

Financial Bailout Passed by Senate

The Senate passed the financial bailout Wednesday night, 74 to 25. I'm not sure that was a good idea. I think it was irresponsible on the Senate's part and shows poor judgement in regards to the economic crisis. The decision seems like the "easy way out" that could potentially make things more difficult in the long run. I feel there are many different options besides the bailout, the government just hasn't taken the time to think of them. This bailout could be really good for us, or really bad. In this case, I hope I'm wrong about this and I really hope the bailout will significantly help the economy.

Cash crunch: small businesses get creative

Banks have all but stopped lending, so entrepreneurs are turning to other means amd sources of funding to keep their businesses running.

Minimum Wage

Minimum wage is being raised in 26 states to at least $6.55/hour. I think this will affect our economy because more people will be less anxious to leave their job in search of more pay. And this also may affect the nation's employment rate

30 Under 30: Entrepreneurs to Watch

Entrepreneurs keep getting younger and younger, while their companies only get bigger. From solar energy to lobster trapping, the members of Inc.com's annual 30 Under 30 list are shaking up a variety of industries -- and doing it on their own terms!

Companies Headed for Painful Times

As consumers' discretionary income gets low and some companies struggle amid tightening credit conditions, 24/7 Wall St. rounds up a list of big company names that are likely to suffer in the coming months due to an ongoing credit crisis. I think our economy is about to see a depression like no other.

Wells Fargo, Citi Battle Over Wachovia

Wachovia says that it has agreed to be acquired by Wells Fargo in an all-stock deal worth $15.1 billion. But reports of a possible lawsuit begin swirling, since the deal would end an agreement that Citigroup announced earlier this week to buy Wachovia's banking operations with help from the FDIC.

Our financial industry is in a decifit.

Three Weeks Work for $19 Million

CEO joined Washington Mutual right before it went down. Alan Fishman was paid $19 million for three weeks work. The bank was seized by the FDIC and was also reported to be the largest bank failure in US history. Some parts of it were bought by JPMorgan Chase.

Illegal Immigrants

Where do I start? Illegal immigration is unfair on so many levels.
I don't have a problem with people because they are from other countries trying to live a better life in my country- no, not at all. I have a problem with people from other countries sneaking over the border to work for cheap wages and send the money back to their homelands. I have a problem with the immigrants who don't take the initiative to learn the English language and get on that waiting list for a visa. What's happening is people are sneaking across the border, working for cheap wages (below minimum wage even!) resulting in a tremendous unemployment rate for Americans who have lived in this country their whole life! How is that fair? An immigrant who hasn't made their contribution to American society can just come in, get a job that pays $5/hour that an American could have had for $12/hour, and send all that money back to their hometown- contributing to our economy's demise. And apparently, this is OK! Well, I for one don't agree. Because that money is lost, the government is going to find a way to replace that money- A.K.A. my taxes!
I'm curious. We live in America. Our primary language is English. Now, a lot of jobs are requiring that employees speak Spanish. Can we make it any easier for these illegal immigrants?
When illegal immigrants have children in America, their kids are considered Americans. Now my taxes are going towards healthcare and education for that child when their parent(s) were very wrong for illegally coming into the country in the first places. It's just not fair. That money could be going towards a legal resident who really needs that aid!
This is yet another reason why our economy is at an all time low!

Stocks Plummet After Bailout Bill Fails

In a vote that shook the government, Wall Street and markets around the world, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system. This left both parties' lawmakers and the Bush administration dismayed. Apparently this was the last resort to fix our economy, so what happens now?

House to Vote on Massive Bailout Deal

Speaker of the House Nancy Pelosi announced Sunday that lawmakers and members of the Bush administration reached an agreement of approving the bailout package for Wall Street. The Bush administration and other members of the government believe the bailout is the most efficient way to fix our economy. The bailout also gives the Bush administrators more of an advantage to spend out tax dollars on other financial industrial issues which is a concern for me.

"Obamanomics"

"http://www.ontheissues.org/celeb/Barack_Obama_Budget_+_Economy.htm"
A different economic approach vs. McCain's 4 more years

Q: The GOP is arguing already that you want to increase capital gains taxes on investments and stocks: A lot of middle-class people have those kinds of accounts.
A: If they have a 401(k), then they are going to see those taxes deferred, and they're going to pay ordinary income when they finally cash out. So, that's a phony argument. You know, as I travel around the country, what I'm absolutely convinced of is that people recognize that if only 1% of the population is doing well, when we've got wage and incomes for the average worker actually going down during a period of economic expansion, much less economic recession, that something's being mismanaged. And they want a different approach. And that's what we're going to be offering them. John McCain is essentially offering four more years of the same policies that got us into this rut that we're in now.
Source: CNN Late Edition: 2008 presidential series with Wolf Blitzer May 11, 2008

I completely agree with what Obama is saying here. In simple terms, Obama is saying he has a plan that will better the economic state of the nation, while McCain wishes to continue to America's economic policies that put us in this financial crisis in the first place.

Can't do anything at home with $12 billion a month on Iraq

The fact that we're spending $12 billion every month in Iraq means that we can't engage in the kind of infrastructure improvements that are going to make us more competitive, we can't deliver on the kinds of health care reforms that Clinton and I are looking for. McCain is willing to have these troops over there for 100 years. The notion that we would sustain that kind of effort and neglect not only making us more secure here at home, more competitive here at home, allow our economy to sink.
Source: 2008 Democratic debate at University of Texas in Austin Feb 21, 2008

Yes! Yes, yes, yes! Go, Obama! What is there to argue about? This makes so much sense. Why spend $12 billion a month on a war that we're not even quite winning. Hold on, let's do the math; thats $144 billion a year. The war started in 2003, that's almost six years. Now, if we were never involved in this war to begin with, that's $864 billion dollars we could have had for ourselves. If we had that money, then there would have been no reason for the government to be dipping into our social security!

McCain Shows Up for Tonight's Debate

"Reverses His Pledge to Postpone"

I liked John McCain's proposal to pause the presidential campaign until a stable plan was devised for the nation's failing economy. On the contrary, I most certainly did not appreciate John McCain's decision to attend tonight's debate. This incident proves him to be indecisive- or, a liar, in more simple terms if you catch my drift. This does not convey a good message to the public. We all know that politicians are liars, but let's face it- when we have evidence to verify such a statement, it only makes matters worse for the presidential hopeful. Bush has proved himself to be a "fabricator," and McCain himself is actually very good friends with Bush. So, how does that make McCain look? This occurance could result in a major hit for McCain. I guess that's why I'm an Obama fan! Woooooo!

Price Increases Hurt Entrepreneurs

The cost of gas and inflation not only affects us consumers but businesses as well. "From fuel to shipping costs to ingredients and raw materials, businesses costs are steadily rising, but so are the expenses that their customers are facing." If these businesses raise their prices too much --or too often-- then customers shop elsewhere. If they keep their prices low to suite their customers then they may run out of business. It's a loose-loose situation. There must be other alternatives or more inexpensive ways to get gas. This is outrageous! I'm a consumer and the inflation rates are ridiculous, something must be done!

http://smallbusiness.aol.com/article/_a/price-increases-hurt-entrepreneurs/20080917155809990001

Sales of Small Businesses on the Rise

Due to current economic state sales of businesses have sky-rocketed. The prices paid to buy out a small business are also rising, "from a median price of $186,000 at this time last year to $200,000." I think this can have a bad and good effect on our economy.
http://smallbusiness.aol.com/article/_a/sales-of-small-businesses-on-the-rise/20080922163109990001

Henry Paulson- Does he have what it takes?

Henry Paulson is currently the United States Treasury Secretary. He is also a member of the International Monetary Fund Board of Governors. He was also the previous Chairman and Chief Executive Officier of Goldman Sachs. Paulson was also Staff Assistant to the Assistant Secretary of Defense at the Pentagon from 1970 to 1972. He also worked for the Administration of U.S. President Richard Nixon.
As Treasury Secretary Paulson has "has quickly distinguished himself from his two predecessors in the Bush administration by formally identifying the wide gap between the richest and poorest Americans as an issue on his list of the country's four major long-term economic issues to be addressed, highlighting the issue in one of his first public appearances as Secretary of Treasury."
Based on this information, I believe Paulson is a qualified candidate to manage the "bailout" operations. He has served many years working with and for the government holding elite positions.

Information gathered from: http://en.wikipedia.org/wiki/Henry_Paulson#Career_highlights

McCain Halts Campaign Due to Economy

John McCain challenged Obama on Wednesday to pause their campaign, postpone Friday's debate and work together to deal with the nation's financial troubles. Obama's response wasn't immediate. In my opinion this was a very responsible move on McCains part, however I still stand behind Obama 100%.

Coke Is No. 1 Global Brand

Despite a slumping economy, many companies refuse to let up when it comes to investing in long-term branding. And for the eighth straight year, Coca-Cola earns the top stop on BusinessWeek's annual list of the world's top brands.
I think this a good example of "Global company". Coca-Cola sets a good example of it.

Last Big Investment Banks Change Status

The Federal Reserve announces that it will allow Goldman Sachs and Morgan Stanley to change their status to bank holding companies, giving the embattled companies the ability to create commercial banks to take deposits, bolstering the resources of both institutions.
I think Goldman Sachs is a liable company in my opinion but I'm not to sure about the decision entirely. I think the "bailout" is a terrible idea. Goldman and Morgan Stanley will be able to set up commercial bank subsidiaries to take deposits, and also have the same access as other commercial banks to the Fed's emergency loan program. Let's also not forget to think that they may not charge ordinary account holders with ridiculous late fees and interest rates for loans......

Isuzu Potential Business Client for GM

On September 19, Bloomberg.com released information stating that "General Motor may sell its truck operations" to the well-known Japanese automobile company, Isuzu Motor Ltd. Should this occur, I would support GM's and Isuzu's negotiation because Isuzu happens to produce great-quality vehicles that are sturdy and long-lasting. Partnering with Isuzu could be very promising for GM. Because of Isuzu's strong reputation for making quality vehicles, this could boost GM's reputation and put GM's business back on track where it needs to be. On the contrary, this means that because GM is selling half its business to Japan, that is less money going into our economy, which only contributes to the further decline of our economy.

Interesting business terms that I happen to like

1. What is international management?
(Me) Multinational management objectives based from home.

2. International management is pursuing organizational objectives in international and cross-cultural settings


3. What is global company?
(Me) Companies in different parts of the globe function under home-based objectives.

4. Global company is a multinational venture centrally managed from a specific.

5. What is transnational company?
(Me) Companies operating globally independently with no particular origin.

6. What is cultural Intelligence?
(Me) Intelligence used to socialize and live in a foreign country as a foreigner similarly to the natives living there.

7. What is ethnocentric attitude?
(Me) Attitudes based on home-orientated.

8. What is polycentric attitude?
Attitudes based on host countries in replace of the home-based country.

9. What is geocentric attitude?
World-orientated attitude. Believe to be the most productive attitudes.

10. What is culture?
Behavior patterns viewed as reasons as to why people do certain things.

11. What are high-context cultures?
Cultures in which nonverbal language and situational language is used.

12. What are low-context cultures?
Cultures in which spoken language is prominent.

13. What are collectivist cultures?
Cultures that capture different cultures globally to produce a better culture.

14. What is monochronic time?

15. What is polychronic time?

16. What is culture shock?
Culture shock is when

17. What is cross-cultural training?
Training that involves workers working abroad to develop the most challenging crisis' of working abroad.

Today's Class Discussion: 9/11/2008

Globalization, in plain language, is any service provided or product produced in one country for sale in another country. Examples include but are not limited to children's toys made in China, customer service operators in India, and tomatoes from Mexico. It's nearly impossible to run away from globalization when your morning coffee is imported from Columbia, your car was manufactured in Japan, and your shoes were made in Italy.

The evolution of product quality places strong emphasis on continuous improvement.More specifically, the evolution of product quality is associated with four different approaches; the fix-it approach to quality, the inspect-it-in approach to quality, the build-it-in approach to quality, and the design-it-in approach to quality. The fix-it approach requires inspectors to refurbish defective products. The inspect-it-in approach calls for inspectors to "sample work in a process and prescribe machine adjustments to avoid standard output," according to Kreitner. The build-it-in approach gives responsibility to every person who touches the product to detect and correct defects, and to "identify and eliminate causes of quality problems." Lastly, the design-it-in approach mandates customers as well as employees to participate in the entire design-production cycle. The build-it-in and design-it-in approaches are popularly labeled total quality management, or TQM.

General Motors: International Management and Cross-Cultural Competence

International management is pursuing organizational objectives in international and cross-cultural settings. In simplified terms, large companies attempt to establish an organized and well developed business in foreign countries. A perfect example of this is General Motors (GM.) GM is a U.S. based business, however, the company has established relations in several countries, including China, employing approximately 284,000 people around the world and manufacturing cars and trucks in 35 different countries.

According to "Management" by Kreitner, cross-cultural competence is a combination of cultural intelligence- "the ability of an outsider to read individual behavior, group dynamics, and situations in a foreign culture as well as the locals do"- and a geocentric attitude, which is a world oriented view that draws o the best talent from around the world.

GM demonstrates great cross-cultural competence by hiring 284,000 employees around the world who help run a company that produces motor vehicles in 35 different countries around the world that are exclusive to each region's needs and desires, therefore making the company quite successful.

How much do I know about Chapter 1 (Continued)

1. What are some/an example of management?
Any leader of an organization delegating responsibility or receiting objectives and making sure they get done in efficient manners.

2. What are some examples of effectiveness?
Ordering supplies for your company on -time!

3. What are some examples of efficiency?
Using as little resources as possibly and ordering from the cheapest producers.

4. What is an example of offshoring?
Dell utilizing factories overseas employing foreigners.

5. What is an example of E-business?
Ebay

6. What is an example of managerial skills?
What President George Bush lacks as the manager of the US.

7. What is an example of managerial functions?
Objectives all managers should do.

8. What is an example of small business?
PetCo
9. What is an example of entreprenuership?
JayZ taking to risk to make music and his current status now.

Who invented the transistor?

The Bipolar Junction Transistor was invented by two scientists, William Sahkely, John Bardeen and Walter Brattain, in 1948. The two of them both worked at Bell Labs, and were trying to find something to replace the bulky and heat wasting vacuum tubes. They had been trying to make a Field Effect Transistor using copper oxide when they discovered a different amplifying effect produced by closely-spaced metal contacts touching Germanium semiconductor. They won the Nobel Prize in Physics for their work in 1956, along with William Shockley, who improved upon their design.
When the Bell Labs scientists continued to investigate a possible FET transistor, they discovered that one of these had already been patented by Physicist J. Edgar Lilienfeld. Lilienfeld's insulated-gate FET (or MOSFET) was based on thin film semiconductor deposited on glass, and was invented over 25 years before the BJT, in the early 1920s (http://www.physlink.com/education/AskExperts/ae414.cfm)

GM demands 50 billion from the government

GM believes that the government should grant them $50 billion in loans. Representatives from GM believe that US automakers need to build more fuel-efficient vehicals. They will only contribute their part to that if congress grants them this loan by September. This is also a matter of National emergency because auto retailers were more concerned with getting consumers to purchase non-fuel-efficient vehicals and trucks. I believe GM has a valid point but don't neccesarily agree with their way of being heard.

More business terms.

1. What is management?
(Me) Management is skills and organization used to regulate responsibility and how and when things get done in a business.

Management is the process of working with and through others to achieve organizational objectives in a changing environment.

2. What is effectiveness?
(Me) Effectiveness is making sure something gets done.

Effectiveness entails promptly achieving a stated objective.

3. What is efficiency?
(Me) Efficiency is how well something gets done.

Efficiency is a central element in the process of management that balances the amount of resources used to achieve an objective against what was actually accomplished.

4. What is offshoring?
(Me) Off shoring is the controlling of a business overseas.

Offshoring is a controversial practice of sending jobs to low-wage countries.

5. What is the internet?
(Me) The internet is global information available on the World Wide Web through the use of anything providing internet service ex. computers, pda...

A global network of servers and personal and organizational computers.

6. What is E-business?
(Me) E-business is business done on the net.

E-business is a business using the internet for greater efficiency in its operations.

7. What are managerial functions?
(Me) Managerial functions are different responsibilities for management.

Managerial functions are general administrative duties that need to be carried out in virtually all productive organizations to achieve desired outcomes.

8. What are managerial skills?
(Me) Managerial skills are different qualities managers should execute efficiently.

Managerial skills are specific, observable behaviors that effective managers exhibit.

9. What is small business?
(Me) Small business are businesses whose population size are less than 100 people.

Small business is an independently owned and managed profit seeking enterprise with fewer than 100 employees.

10. What is entrepreneurship?
(Me) Entrepreneurship who someone who takes risk and is eager to starting their own business.

Entrepreneurship is the process of pursuing opportunity without regard to resources currently under ones control.

100 Anniversary

General Motors has a history of producing quality vehicles and just recently celebrated their 100th Anniversary. Some things they're doing to celebrate is launch an 100th Anniversary sales event offering employee discounts on all remaining 2008 models. FLA is also inviting Flint area residents to submit photos of their favorite car or truck to be posted on a Ford Graphics gallery.