Fitch’s December Retail Credit Card Index results show that more than one in every eight dollars of receivables was written off as uncollectable during the November collection period on an annualized basis.
Similar to chargeoffs, the deterioration in delinquencies has slowed significantly from the previous year, yet they still remain almost 48% higher than 2007. Despite these short term improvements, Fitch expects retail credit card delinquencies to remain elevated throughout first half 2010 in line with its expectations for unemployment.
Author: CBPS
Peter Mehit is co-founder and Managing Partner of Custom Business Planning and Solutions, a business consulting firm that provides problem solving, planning and process help. He has worked from private equity to the Fortune 100 at all stages.
He can be reached at pmehit@wbpllc.com or at 800-741-8444.
Small Business Toolkit | Office of the Small Business Advocate
If you’re interested in participating in American Recovery and Reinvestment Act projects but don’t how to find or apply for them, then the attached documents should help.
To read an overview brochure, click here.
To read a detailed PowerPoint presentation, click here.
Good Hunting!
Stimulus News Digest | Office of the Small Business Advocate
Highlights include:
Santa Rosa, County Due Millions in Stimulus Aid – $7.4MM
Forest Service Gets $185 Million to Expand Payroll in Region – $185MM
Workforce Investment Board Offers Free Employment Advice – $220K
Fiber Dominates Latest US Rural Broadband Stimulus Funds Release – $300MM
NIH Funding of Biomedical Innovation Is Creating Jobs, Fueling Industry – $10.5BN
Continue reading “Stimulus News Digest | Office of the Small Business Advocate”
Custom Business Planning and Solutions Is Launched By The Creators Of WhiteBoard Partners, LLC
For Immediate Release
01/21/10 | Chino Hills, CA : The creators of WhiteBoard Partners, LLC announce the launch of Custom Business Planning and Solutions (CustomBPS). CustomBPS will retain many of the award winning aspects of WhiteBoard Partners while adding flexibility in how products are created and brought to market.
The new branding emphasizes the true, individual, custom nature of the services we offer. It also allows the principals to launch additional services in an individually branded or co-branded way.
With the changing economy, CustomBPS founders realized the creation of a new brand would be necessary to support changes to their business model. “The new business model and identity allows us to play to all our strengths,” said President Lydia Mehit, “while incorporating what we’ve learned during the last six years as WBP.”
Services ready for launch or planned for 2010 introduction are, “Employee to Entrepreneur Now”, an internet based program for those considering starting their own businesses; employee performance training delivered both in person and via internet, an internet based business workflow and procedure course and at least two publications.
“Our legacy clients will find that we will still deliver the best business planning and process solutions available. This change will allow us to bring this same experience to more people,” said Peter Mehit, COO.
Contact: Lydia Mehit 800-741-8444, lmehit@custombps.com
ROCK ON! Iron Maiden’s 757! | Yeah Bra! | Airliners.net
Click on any of the images below to see a larger image.
Check out the tour cities painted on the fuselage like bombing runs: Belgrade, Dubai, Bangalore… Bangalore, India? I’ve been to Bangalore. Imagining a stadium full of Bangalorian’s rocking out to Maiden while moshing and making devil horns is a mental stretch for me. The sole American date is Fort Lauderdale. Shouldn’t they be flying Southwest?
Continue reading “ROCK ON! Iron Maiden’s 757! | Yeah Bra! | Airliners.net”
Bankers Without a Clue | Paul Krugman – NYTimes.com
Jamie Dimon of JPMorgan Chase declared that a financial crisis is something that “happens every five to seven years. We shouldn’t be surprised.” In short, stuff happens, and that’s just part of life.
But the truth is that the United States managed to avoid major financial crises for half a century after the Pecora hearings were held and Congress enacted major banking reforms. It was only after we forgot those lessons, and dismantled effective regulation, that our financial system went back to being dangerously unstable.
It’s the equivalent of “Hey, who can know why these things happen? What am I, an expert? Fuggetaboutit.”
Floor collapses at Swedish Weight Watchers clinic – The Local
“We suddenly heard a huge thud; we almost thought it was an earthquake and everything flew up in the air. The floor collapsed in one corner of the room and along the walls,” one of the participants told the Smålandsposten newspaper.
Ed: Possibly one of the greatest hooks, ever.
Federal Reserve Seeks to Protect U.S. Bailout Secrets (Update1) | Bloomberg.com
The Federal Reserve Bank, to preserve its own power, is engaged in a lawsuit to prevent disclosure over what banks received bailout funds, along with how much they received.
Since the Fed controls currency, in effect, your government is engaged in a fight to NOT tell you who the gave YOUR money to.
The Fed is joined in its bid to overturn Preska’s order by the Clearing House Association LLC, an industry-owned group in New York that processes payments between banks. The group assailed the judge’s decision for what it said were legal errors, such as applying the wrong standard in weighing the exception to FOIA.
The group includes ABN Amro Bank NV, a unit of Royal Bank of Scotland Plc, Bank of America Corp., The Bank of New York Mellon Corp., Citigroup Inc., Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase & Co., US Bancorp and Wells Fargo & Co.
Federal Reserve Seeks to Protect U.S. Bailout Secrets (Update1) – Bloomberg.com.
Do Something!
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Facebook’s Zuckerberg Says The Age of Privacy is Over
Do you want to make your life more open to everyone in the world, or do you want privacy?
As with the economy, we are at a crossroads, the subject this time is about what it means to be a person in the digital age.
This is Very Important
Facebook allows everyday people to share the minutiae of their daily lives with trusted friends and family, to easily distribute photos and videos – if you use it regularly you know how it has made a very real impact on families and social groups that used to communicate very infrequently.
… 350 million people signed up for Facebook under the belief their information could be shared just between trusted friends. Now the company says that’s old news, that people are changing. I don’t believe it.
SEC order helps maintain AIG bailout mystery | Reuters
It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group (AIG.N) because of an action taken last year by the Securities and Exchange Commission.
In May, the SEC approved a request by AIG to keep secret an exhibit to a year-old regulatory filing that includes some of the details on the most controversial aspect of the AIG bailout: the funneling of tens of billions of dollars to big banks like Societe Generale, Goldman Sachs (GS.N), Deutsche Bank (DBKGn.DE) and Merrill Lynch.
Do Something!
Continue reading “SEC order helps maintain AIG bailout mystery | Reuters”
Dispatches From The Front 