Insight News

Sep 04th


Staying off the naughty (spending) list: Ten ways to avoid post-holiday regrets

The holidays are upon us, bringing all those personal and family images and sensations we cherish. But for many of us, there are a few not-so-joyous holiday sights (a purse overflowing with credit card receipts) and sounds (the ca-ching! of the cash registers marking our escalating debt). These negatives can easily outweigh all that we love about the holiday season, especially during this less-than-prosperous economic period.

The laws of consumer power in motion

Let’s give a shout out to English mathematician Sir Isaac Newton who, way back in 1687, developed the Theories of Black Consumer Power. Well, ok, if you want to get technical about it he didn’t name it that. He named it The Three Laws of Motion.  But wow, do they explain a lot about your consumer power.

Pants on fire? Don’t get burned

Pants on fire? Don’t get burnedRecruiters often need to hire people with specific, technical knowledge.  When I mention a skill to someone and he says, “I can do that,” I feel encouraged.  When she tells me where she learned that software or technique and how she applied that knowledge, I get jazzed.  When he tells me more about the skill or requirement than I know myself, I send him in for an interview.

Equal credit elusive for minorities, says Assistant Attorney General

Record number of cases filed under Equal Credit Opportunity Act

Federal regulators and lenders convened November 6-9 in Baltimore to review and analyze whether the goals of the nation’s Community Reinvestment Act (CRA) and fair lending laws are being observed. The annual event, now in its 15th year, attracted sell-out attendance to hear a series of expert presenters’ insights and analyses.

So much more than a credit score…

So much more than a credit score…Early in my career, I remember sitting down with a family to help them prepare for buying a home. I asked them how their credit was, and the husband replied, “Our credit is very good. The creditors aren’t knocking on our door.”  

My first instinct was to laugh with him, until I realized that he was very serious. As I look back, I understand why he would be confused. Many of us are misinformed when it comes to credit. For starters, being in “good standing” with your lenders does not always indicate that you have good credit. What’s even more surprising, having a strong credit score doesn’t readily mean that you are desirable to lenders.

Confusing?  Let’s break it down.

Dayton addresses liquidity crisis

Dayton addresses liquidity crisisALANA (African, Latino, Asian and Native American) community leaders commend Governor Dayton for small business lending initiative to improve capital access and call for attention to the liquidity crisis in ALANA communities.

ALANA community leaders commended Governor Dayton for the launch of the $100 million Small Business/Banking Partnership. They viewed the initiative as an important step towards addressing the major challenges facing ALANA entrepreneurs.

At the same time they recognized that unless banks change their lending behavior towards ALANA entrepreneurs nothing much will change in the experience of poor capital access by these entrepreneurs. The community leaders were concerned at recent statements that "liquidity" is not the major issue of entrepreneurs when it has been well documented, especially in the recent disparity studies at the state and city levels, that ALANA entrepreneurs face significant barriers in their access to capital.

Career RoundAbout: Detour? Or Excellent Shortcut?

Career RoundAbout:  Detour? Or Excellent Shortcut?When Rachel asked me to help her husband find a job, I said no.  You who know me know, I rarely say no.  Especially to a challenge.  But I told her, Pops (not his name, but what we call him) never does what I tell him to do.  Everyone knows someone who won’t be moved.  For example, I can get a CFO to change a budget item, but I can’t get my kid to drink orange juice.  Put Grandma in the kitchen, and my son is quickly half-tanked on Minute-Maid.

We applied the Grandma theory to a discussion about, Who can help Pops?  We settled on a mutual friend.  I would pass the information along to the buddy, and the buddy would share the suggestions with Pops.  This sounds complicated, but sometimes an indirect route is the best way to achieve results.  In fact, most career plans now involve roundabouts.
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