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Getting to know your customers
But honestly, it's almost impossible to go too far. Make a splash. Do something special. You wouldn't have your business if your people didn't go the extra mile for you day-in and day-out, week-in and week-out. 3. The Holidays aren't much fun if you spend them alone. I'm lucky. I have great partners and a tremendous team. I often wonder how the SOHO's do it. I couldn't. But you don't have to be SOHO to spend a lot of time making management decisions alone. Whether your fiscal year lines up with the calendar year or not, there is a natural gravitation pull to this time of year. A lot of decisions tend to get made in December what will stay the same and what will change?
This provides you with a fantastic opportunity for employee engagement. Get them involved in decision making. More>>
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Market Update: Wake-up Call
Two years ago I made a call that anyone who's read this newsletter long enough will remember or at least have heard about. In July 2006, with the market at multi-month lows, TTC got long the S&P futures for a move to 1360 that seemed incredible at the time - certainly no one else was seeing it, let alone trading it. But, by October the S&P futures had rapidly advanced 200 points and my target was hit. Now, of course, the fall rally of ?06 is practically legendary, having extending into early 2007 until the first hints of a subprime mortgage problem began to trigger the first waves of panic selling. As 1360 was reached and the market continued to pull away after some initial confirmation and vibration there, I forewarned that this important level would inevitably be retested from above. More>>
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No Worries: Banks Keeping Less Money in Reserve
Banks might be putting too much faith in their borrowers. As more consumers and companies start having difficulty paying their debts, the funds that banks set aside to cover soured loans stand at the lowest level since at least 1990.
The situation is causing consternation among regulators. And as credit quality begins to deteriorate from unusually strong levels, the issue also is causing jitters on Wall Street, where analysts predict the need to boost loan-loss reserves will cut into banking-industry profits this year.
Banks establish reserves for a portion of loan portfolios or big individual loans that they estimate could ...
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