The US Department of Labor issued a report yesterday detailing expected changes in US job growth or employment over the next decade. Employment in Services to Dominate US Job Growth The US expects service related jobs to constitute virtually all (96%) jobs created through 2018. The health care industry employment constituting a significant portion. Whereas,
Durability bias in business is the tendency of people to project recent trends or occurrences into the future. If it happened in the past, then it must happen in the future. The term is often used in behavioral science and forecasting. Durability Bias in Business How does durability bias apply to business? Often business professionals
Most people when faced with treading water realize that at some point to get somewhere they either have to start swimming or drown. You only have so much energy to stay where you are. The same thing holds true for businesses! You Can Only Tread Water For So Long! A business can maintain the status
Once you find yourself in a recession your first goal is to stabilize your operations. But having achieved that goal you need to look beyond the present and develop a longer term strategy. Our goal for this recession is to “come out of the recession better and stronger than we went in!” Recession Strategies for
On Thursday, the US Treasury Department will release the bank stress test results for 19 financial services companies. 18 of the 19 have received TARP funds (MetLife has not as of yet). The Deal’s Dealscape has the rundown, along with a handy list of the companies undergoing the test, complete with TARP funds received to
I was having lunch last week with a workout officer at a large bank. He was commenting on how customers referred to his department were often in a state of denial. Not unlike the man who finds himself in Hell but won’t accept it! It seems that a lot of businesses are in denial. Their
I had lunch a couple of weeks ago with an investor the day after the President spoke to the nation. I commented on how every time the President spoke the next day the stock market dropped. My friend made the observation that there would not be any economic recovery until the following institutions participated: Banks
If you are like most companies I am talking to these days your sales are off from there high for last year. Nobody is immune and there is no place to hide! You have had declining sales for the past six to 12 months with no end in site. So what sales volume should you
Everywhere I turn there is negative news or comments. The news media is selling the bad things that are happening in our economy. Consequently, I find my intensity rising at work. On Sunday, I ran into a business acquaintance who inquired as to how my business in going. I expressed a few challenges that we
Warren Buffet has a saying that goes as follows… “You never know who is swimming naked until the tide goes out”. This past week there have been two major businesses who have been exposed as having been “swimming naked”. The major blow up was the investment manager Bernard Madoff, founder of Bernard L. Madoff Investments
Most CFO’s cut costs to obtain profitability for the company. In a recession, that is often the best course of action. The question is: what kind of knife do you use? A meat cleaver or a scalpel? Should You Cut Marketing Expense in a Recession? Marketing costs are a prime target for the CFO’s slashing
I recently returned from several weeks in Spain. When I left the U.S. I was focused on our economic problems. Though I had read about Europe’s issues, I didn’t think that they could be as bad as ours. I was wrong! When we arrived in Madrid the first thing I noticed on the ride from
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