Tag: Prof Note

19 October 2018

 

Question: 10 tough but true reasons you’re not rich?

 

Beijing unveils first growth data since US tariffs – Pg. 3

–        …the world’s second-largest economy is expected to have grown by an annualized rate of 6.6% in the third quarter, which would mark China’s slowest expansion since the depths of the financial crisis in 2009

–        China’s economy has also doubled since 2009 (from $5.1tn to $12.2tn last year), so slower growth is expected

 

Wary Chinese business cuts investment as trade fears grow – Pg. 3

–        China’s private entrepreneurs are shifting away from investments in favour of paying down dollar debt and keeping cash at hand to prepare for an economic downturn exacerbated by the Trump administration’s trade tariffs

–        …private exporters would focus their cash on repaying dollar debt, as China’s loosening policy and the US Federal Reserve’s tightening contributed to a weaker renminbi

–        Private businesses have borne the brunt of a slowdown in real economic growth in China over the past few years, which has been accompanied by a tightening of state lending and the collapse of shadow financing.  Private companies tend to be far more exposed to shadow finance, as both borrowers and lenders

–        After decades in which property investment drove the boom, real estate entrepreneurs are turning to asset management rather than placing big bets on land or buildings,…

 

Lenders aim to plug $1.5tn gap in global trade finance – Pg. 14

–        Several of the world’s largest banks plan to build a digital platform that aims to grab an unaddressed $1.5tn gap in the coverage of global trade finance

–        Hong Kong’s de facto central bank, the Hong Kong Monetary Authority, has launched a blockchain-backed trade finance platform linked to 21 banks, including HSBC and Standard Chartered

–        The system plans to allow trading companies to submit purchase orders and invoices to request trade financing from banks.  The information can be verified within the system and will help banks better assess the risks of double financing and fraudulent trade

 

Answer: (1) You’re trusting the wrong investment pros (Prof Note: Make certain they are “pros” afterall, i.e. look at the educational background of Suze Orman); (2) You have an attitude about wealth; (3) You waste a ton of money (Prof Note: Be careful as the Starbucks add up); (4) Your mindset is all wrong; (5) Your networking stinks (Prof Note: Networking is critical.  You have to get one’s name out); (6) Savings?  What savings? (Prof Note: Perhaps a cliché but no less true: It takes money to make money); (7) You’re a penny pincher (Prof Note: You have to get in the game!  You miss 100.0% of balls when you fail to swing 100.0% of the time); (8) You think working long hours is all it takes (Prof Note: Whoa…have I learned this!  Work the long hours ONLY when it is appreciated and they are advancing you.  If your boss and/or company is shirking, completely your commitment but change jobs!); (9) You like to keep up with the Joneses (Prof Note: You never know how the “Joneses” have financed anything.  Be prudent and find inward happiness); (10) You’re waiting for your big break (Prof Note: Create your own break!  I am never happier than when I wear polos with the P(Gain) logo and/or Cat Ghaut logo.)

18 October 2018

 

Question: According to MSN: Lifestyle, what are 40 of the most important things I learned before turning 40?

 

US hits EU banks with exchange threat – Pg. 2

–        One of the US’s top regulators has threatened to stop European banks from using US futures market if the EU refuses to water down post-Brexit plans to oversee clearing houses

–        The CME is widely used by banks around the world to hedge their exposures to dollar swaps and US Treasuries.  It could also bar US institutions from EU entities such as Deutsche Borse’s Eurex, which trades futures pegged to the prices of German government bonds

–        The US and UK have a common cause in resisting European plans for extensive oversight, with both sides supporting “deference” to local regulators, with close co-operation

 

Obamacare’s recovery defies the Republican death wish – Pg. 9

–        Obamacare still polarizes but, in a reverse of the numbers in 2014, it is now backed by 50% of Americans to 40%.  There are super-majorities for some of its features: insurers, for example, cannot refuse people with existing ailments

–        Once established, people favour a present good over the theoretical prospect of something better

–        When repeal failed in the Senate last year, Republicans could have spent their energies elsewhere.  Instead, they gnawed at the various schemes through which Obamacare widened access to healthcare.  The least liked of these, which nudged individuals to buy cover on pain of taxation, was cancelled to no great fuss.  The fool’s errand was to pick other, less winnable fights: against the expansion of Medicaid, against the lavishly popular existing conditions rule

 

Answer: (1) Keeping your hair dry is not a priority.; (2) Each age has its advantages and its limitations; (3) To that end, life is short; (4) Time is the greatest luxury (Prof Note: When I was younger I could not enjoy a sunset.  Always had something to do.  Now, I ask, “What is more important than this sunset?”); (5) You absolutely need new bras every year (Prof Note: No comment J); (6) Driving is the most dangerous thing we do in a given day (Prof Note: I absolutely pull over if I must respond to a text/email); (7) Be nice to everyone; (8) Money is ephemeral (Prof Note: It is important to note that Paul Allen, who arguably had all the money in the world, could not beat cancer at 65!); (9) That said, get a grip on your finances and line up your grown up documents (Prof Note: Estate planning can never be done too early but often is done far to late); (1) We are not actually in control of every part of our destiny; (11) To that end, know that not everything happens for a reason; (12) Don’t wait to travel (Prof Note: When disembarking the ship to get on a zodiac to step on Antarctica the women ahead of me was in hysterics crying and sobbing.  She was not permitted to go do to her infirmed status due to age as they were worried about safety.  Her sobs were, “I have waited all my life for this…”  It was heartbreaking); (13) You absolutely have to wear sunscreen; (14) Sleep is the most therapeutic, healing thing you can do for your body; (15) Dressing your age is boring and largely a total arbitrary construct; (16) You’ll only regret the things you didn’t do; (17) That said, regret is not binary; (18) Women who keep essential truths about their life experiences from other women harm themselves, the women in their spheres, and all of us; (19) You always feel better after a workout.  Always.; (20) Nothing is permanent; (21) Eschew the dominant and damaging cultural ethos that “good” motherhood means abandoning everything you personally hold dear; (22) Most excuses are totally bogus; (23) Walking is among life’s greatest simple pleasures (Prof Note: Sometimes when I walk on campus, especially in the Fall, I can feel the student tension but also I stop to sit on the bench to watch the colours.  It is unfortunate the students cannot enjoy due to the stress); (24) Manifest objectivity; (25) To that end, interpersonal tensions often aren’t about you at all; (26) Jealousy is a complete waste of energy, and usually misguided anyway; (27) Social media lies (Prof note: I do not even read social media); (28) Of course, it’s not just social media that lies… (Prof Note: Unfortunately, as evidenced in the media recently, there is lying at all levels); (29) Everything is fleeting; (30) Don’t hoard; (31) You won’t regret the wedding china you didn’t register for; (32) Appreciate your body before you look back on it and recall that last version so fondly; (33) If you feel like you need to live in New York- or Paris, or Los Angeles, or somewhere else-go do it.; (34) If you’re not sure- and the stakes are high-wear black; (35) That said, when you try to wear clothes meant to conceal what you view as your body’s imperfections, you actually feel way less cute; (36) Trust that when people say “no gift”, they mean it; (37) Fraying relationships only become ever more irreparable as time passes; (38) learn how to listen and give good advice; (39) What you think is unspeakable is not, and you must speak it: Someone has been there-or is there.  You are not alone. (Prof Note: I will forever say this, in the darkest and earliest of hours of my family’s darkness I raised my hand to trusted peers and said, “I need help.  Please help me.”  100.0% of individuals requested came to my aid all supporting the justice that prevailed!); (40) Your younger self would actually be really freaking impressed.

17 October 2018

 

Question: According to MSN: Money, when downsizing in retirement, what are four (4) questions to ask first?

 

China’s building boom sets regions on course for potential $6tn ‘debt iceberg’ – Pg. 1

–        Local governments may have accrued a debt pile hidden off their balance sheet as high as $6tn following “rampant” growth in borrowing, …

–        The mounting debt in so-called local government financing vehicles, or LGFVs, hit an “alarming” 60% of China’s GDP at the end of last year and was expected to lead to increasing defaults at companies connected to regional authorities

 

Bezos defends military links – Pg. 3

–        …rebuke at rival Google over its refusal to work with the US military, revealing a sharp divide that has opened between some of the biggest US tech platforms over the issue

–        The search company said that part of its reason for withdrawing was that the work might have contravened the guidelines it has set for the ethical use of artificial intelligence, one of which said that its technology should not be used to kill people

–        Amazon Web Services and Microsoft, the two biggest cloud computing companies, have been angling for the contract

–        Pressure from its workers caused Google to come up with the rules on ethical use of AI that led to back down from the Pentagon contract

 

Homeowners in China stage protest over falling prices – Pg. 4

–        Homeowners in Shanghai and other large cities took to the streets this month to demand refunds on their homes after property developers cut prices on new properties  to stimulate sales

–        The property sector is estimated to account for 15% of China’s GDP, with the total rising closer to 30% if related industries are included

–        Other evidence of a downturn is starting to emerge.  Sales by floor area dropped 27% year-on-year during the “golden week” national holiday earlier this month, a peak period for house buying in china, …

–        Tightening mortgage restrictions, amid a government drive to deleverage the economy, have caused the recent property market weakness, along with reduced spending on a slum renovation drive that saw the central government fund purchases for relocated residents

 

Cushman v cleaner puts non-compete deals in focus – Pg. 16

–        Last year, Sonia Mercado took an $18-an-hour cleaning job with Cushman & Wakefield in New Hampshire.  When she left to work for a rival, the $3.4bn real estate services group sued her for breaking a non-compete agreement

–        Cushman’s lawyers argued that it would be “irreparably harmed, the extent of which cannot be readily calculated”, if the non-compete agreement were not enforced

–        Cushman, which raised $765m when it floated earlier this year, operates in 70 countries and has almost 50,000 staff.  Created out of the merger of two real estate firms in 2015, it provides services from cleaning to commercial property brokering.  Its chief executive, Brett White, was paid $2.5m last year

–        Almost 40% of workers in the US have been subject to non-compete agreements at some point in their careers…

–        Cushman & Wakefield declined to discuss Ms Mercado’s case specifically, but said the provisions C&W Services, a subsidiary of Cushman & Wakefield, used in its contracts with janitorial staff were not “non-compete” agreements.  It said “non-service” agreements were commonly used at C&W Services to prevent janitorial staff from working at the same location if they joined a competing company (Prof Note: More information does shed C&W in better light.  Now I see it more clearly from C&W’s perspective, was there a “greater good” in the legal pursuit of an $18/hour worker?  Fortunately, not my decision!)

–        C&W said her responsibilities included “scheduling personnel, establishing work standards…conducting site evaluations/audits” and “maintaining budget control”

–        Ms Mercado signed without reading it… (Prof Note: Most employees do this…very dangerous)

–        Non-compete agreements are enforceable in all but three US states, though several more moved to restrict their use.  Businesses say the provisions allow them to invest in staff training and protect proprietary information from competitors

–        (Prof Note: As former head of HR for a company, I know people just blindly sign the papers put forward.  They need the job, want the higher salary, etc.  There needs to be a balance.  Several years ago, amid my family’s estate legal case, I was offered a class at a local university in southern Maryland.  I was finally going to be able to bike to class.  I even bought the bike with a basket on the front for my laptop.  A true dream!  Well, when my attorneys reviewed the HR packet, the small school required unlimited ability to check my background (remember I was in the middle of an awful litigation).  I could not agree to this for a single class paying $3,500.  Note: I offered to donate 100.0% of the salary back to the school if we could limit the background check to a single occurrence (unlimited in scope).  The dream was dead! L  I am not certain what recourse/power an individual employee has.  Often policy is policy.  Be very careful what rights one give’s up and/or limitations one accepts when signing corporate documents.)

 

Answer: (1) Am I struggling to afford my current home?; (2) Will downsizing actually save me money?; (3) Can I make money hanging on to a larger home?; (4) Will my new space accommodate my physical needs?

16 October 2018

 

Question: According to MSN: Lifestyle, what are 27 Common Lies People Put on their resumes?

 

US economy’s urban-rural split widens – Pg. 2

–        A stark geographical divide in the US economy has been revealed by research that shows four-fifths of rural counties have fewer businesses than they did before the financial crisis, even as big cities prosper

–        By 2016, fewer than a quarter of US counties had managed to replace all the businesses they lost to the recession

–        …reflects growing economic rewards from population with high educational achievement,…

–        The total number of Americans living in “distressed” postal areas fell between the 2007-2011 and 2012-2016 periods, yet the number of rural Americans living in a distressed zip code increased by almost 1m in the same timeframe,…

–        Distressed areas…have a local population with low median income, poorer employment, high levels of poverty and low educational achievement and business formation

–        Of the 50m Americans in distressed zip codes, 22.7m lived in rural areas, 17.9m lived in urban areas, and 9.4m in suburban ones

 

BofA’s profit clouded by growth doubts – Pg. 12

–        BoA’s struggling investment bank and fears over revenue growth overshadowed record quarterly profits at the second-largest US lender

–        Investment banking fees fell 18% compared with a 16% decline in the industry’s fee pool

–        The consumer bank’s performance, along with loan reserve releases, falling expenses, a lower tax rate and a 5% drop in the share count pushed earnings per share up 43% from the year before…

–        Rising interest rates should support bank revenue but, in the third quarter at BofA and elsewhere, higher rates had a bigger effect on banks’ deposit funding costs than on their loan yields (Prof Note: This is a resultant of the flat yield curve)

 

Answer: (1) Exaggerated Education (Prof Note: I have seen several high profile individuals terminated for this); (2) Employment Dates (Prof Note: I recommend only place years on a resume.  Smooths things out and is accurate); (3) Technical Abilities (Prof Note: This is tough as different people have different perceptions.  I once interviewed an individual that had, “cover call” experience on their resume.  When I asked about it the response was (no joke), “It sounded good.”); (4) Falsified jobs (Prof Note: Perhaps I need to remove “Federal Reserve Chairperson” from my resume?!); (5) Foreign Language Fluency; (6) Grade Point Average (Prof Note: If you have an issue, refuse to provide it.  Ask your university for a written letter demonstrating the classes successfully passed.); (7) Previous Titles (Prof Note: Titles matter.  One of the many benefits of working at Clark Construction was it was my break out role from “Analyst”, i.e. my title no longer had “Analyst” in it.); (8) Awards; (9) Graduation Year (Prof Note: The year does not need to be specified on your resume.  I know older individuals worry that it will date them); (10) Promotions; (11) Salary (Prof Note: I personally object to new employers learning past salaries.  A position and person are worth the amount they are worth.  I have always felt past salaries were an anchor to achieving fair worth.); (12) Job Duties; (13) Volunteer work (Prof Note: I am finding that philanthropic activities are being asked more and more); (14) Current Location (Prof Note: What is “current location” in today’s society?); (15) Degree (Prof Note: Falsifying degree achievement is an insult to all of us that have achieved the degree!); (16) College Major (Prof Note: My MAIT degree is technically MA International Transactions.  I use to carry on my resume as International “Trade” as I felt it was more descriptive.  It was changed back to “Transactions” when I realized, about 15 years ago, that I was technically being inaccurate.); (17) College Minor; (18) References (Prof Note: I cannot stand when I am called, happens rarely, for a reference and have not been notified by the individual.  In one case, as I always try and support students, I referenced the student from the wrong university and it was obvious to the reference person I did not remember the individual.); (19) Certifications (Prof Note: Be careful, the time for an employer to learn you actually are not trained in CPR is not when your boss is horizontal from a heart attack); (20) Reasons for leaving; (21) Criminal Records (Prof Note: I struggle with this question.  I struggle as I thought jail time was the settlement with society for one’s past deeds.  The continued title of “Criminal” carries a negative stigma thus harming an individual whose debt to society has been paid.); (22) Professional Licenses (Prof Note: I remember responding to an attorney, years ago, that had sent me a letter, “Are you aware that presenting yourself as an attorney, when the quality of this letter clearly indicates that you are not, is a crime?!”.  The attorney’s reaction was priceless and angry! J); (23) Exaggerated Results (Prof Note: Are commas really that important on financial results?!); (24) Military Record (Prof Note: I am so sensitive to this that when I wear military stamped clothing, e.g. USMC hoodie that I was given by a dear friend, and am mistaken as former military I respond, “I was not honoured with military service.”  Now, the Willy and I will take all the waves and honks we can get! J); (25) College (Prof Note: I once worked with an individual that constantly talked of their time at Harvard.  Turned out it was a two week seminar); (26) Interest and Hobbies; (27) Leadership