So Bernanke tells us what we knew about 4 months ago. Recession. I’m not sure we needed him to tell us this given the activities of the Fed over the last couple of quarters. Naturally, the Fed can always attempt to inflate the dollar in order to avoid or shorten an economic downturn. In DC
On Friday of last week the Wall Street Journal had two articles, one on the front page and the other in the Money section, that taken together paint a chilling picture for the small and mid market companies. The front page article highlights the peril that local banks are in because of home builder loans.
JPMorgan Chase announced today that it will acquire Bear Stearns for $2 a share today. On Friday, Bear Stearns’ stock price closed at $30.00 on Friday. This is already down close to half over its Thursday close. In addition, it is 81% down from its high for the last year of $159.36. The subprime mess
The New York Times has an interesting story in today’s business section on the credit crisis spreading to small and midsize banks. The article highlights that the banks were unprepared for the residential downturn. The banks were also highly exposed to a commercial real estate downturn. This mushroom cloud spreads to small banks. Mushroom Cloud
If you are like me you are having a difficult time getting your arms around the subprime mess or crisis. I am not sure how bad it is; what it is going to do to me; and what action I should take, if any? I hear all of the problems in the news, but, as
Over the holidays we were asked by an investor to examine a company and determine if it could survive. We reviewed the financial records and met with management. At the end of our review both we and management agreed that we were about a year too late in saving the company! What difference does a
In December, the US unemployment rate rose to a two year high of 5.0%, the worst since 2005. That increase was also the largest one month increase since April of 1995. A scant 18,000 jobs were added to payrolls in December, per the US Department of Labor. 2007 was the worst year for US job
A significant source of growth in the US economy in recent years has exhibited further weakening per a Commerce Department report released this morning. Let’s look at new home sales and prices. New Home Sales and Prices Take a Dive in August New home sales and prices fell to their lowest rate in seven years
Today I attended a luncheon for the Turnaround Management Association of which I have been a member for approximately 10 years. During this time I have seen good economies and bad. For the past 3 years the economy has been so good that the TMA meetings looked like a Maytag repairmen convention. Today was different! The
JOIN THE NEXT STRATEGIC CFO™ WORKSHOP SERIES
Strategic CFO™ Financial Leadership Workshop
The Art Of The CFO®
June 12-15th, 2023
CONNECT WITH STRATEGIC CFO™
