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POPSAre credit card rates out of control? As President Obama makes controlling credit card rates a priority, banks are pushing back saying they have to raise rates to accommodate for the rising costs of doing business in a challenging economic environment.
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POPSOutsourcing Venture Capital decision-making Interesting twist on crowd sourcing decisions. Not quite crowd sourcing but getting a dozen unique entrepreneurial minds to decide what new businesses to invest in. Is this the future of Venture Capital? We'll all be watching how well these companies pan out in the coming years to see if this is a viable model.
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POPSThere's always a way to make money Interesting WSJ article on new jobs Americans are taking on to bring in extra cash. Ah - the rise of the hot dog vendor. What other unusual new companies have you seen in your town?
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POPSIs it a Depression? Scary stats out there today, and scary prognostications from the former Secretary of Labor. Whether or not you agree it is or could be a Depression, I bet Reich is right that we're all within two degree of separation from someone out of work (if not one degree).
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POPSThe new media economy Yes, times are terrifying in the larger media universe with newspapers folding around the US or threatening to -- but glimmers of hope like this one are popping up too.
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POPSInsurers play ball Big news on health care today. Right now in many states individuals with preexisting conditions - anything from diabetes to cancer to even allergies -- can't buy health insurance on the individual market, because insurers won't cover them. The game could be changing soon...
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POPSGov. Rod Blagojevich Appeals To Illinois Senate We are a nation that just months ago voted against the politics of the past and in favor of transparency and change. Blagojevich's cynicism about what it takes to run campaigns and win elections is not only disheartening, but also antiquated. Times are changing, Blago, get with the program.
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POPSThe will to change health care Daschle's hearings: another sign that the administration is serious about health care reform and an ambitious agenda quickly. That said, the gritty details will make or break whatever comes next.
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POPSPawnbrokers Thrive On Recession Since bank loans are hard to come by these days, cash-strapped, middle-class Americans are turning to alternative lenders like pawnbrokers to fill the void. For other alternative lending options, check out Banking 2.0: New Capital Connections For Entrepreneurs http://www.forbes.com/2008/02/11/lending-online-banking-ent-fin-cx_mf_0211capital.html
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POPSSign of Small Business Times Quite a downer but this WSJ article echoes much of what we've been hearing from all types of small businesses. This article provides a good overview of the types of problems that these businesses are suffering from.
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POPSAuspicious signals for health care reform Insurance overage for all despite preexisting conditions?That's not the case in many states in the US. With this move, insurers are signaling that they're willing to play ball on health care reform.
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POPSIs Hillary right for Secretary of State job? While Obama is already gaining a reputation for extending a hand to his former foes (Lieberman for example), putting Clinton in charge of such a large department could cause more damage than good. Obama supporters around the globe are waiting for him to put his stamp of change on American foreign policy. Would that be hindered by putting a public figure with existing ties in this prominent position?
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POPSPerson to Person lending squeeze It's not just banks but peer to peer lending sites are getting hit too -- by investor wariness, SEC regulators, and of course, business and individuals that can't repay. For a look at a few additional options for capital, check out one of my recent videos: http://www.forbes.com/video/?video=fvn/boost/mf_byb100208
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POPSThe Mighty McCain? Anyone looking for drama or fireworks in the previous Presidential debates was out of luck in the first two debates. If NYT's reporter Katharine Seelye is right and McCain kicks it into high gear tonight, we could finally see some excitement tonight. So far , the debates have been both packed with policy details and stump speeches replayed by both candidates. More than drama, of course, Americans and the world want to know how the economy will be saved. Will we find out how that could work and how our taxes could possibly foot this billowing bill for saving it.
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POPSWhat to watch beyond the Dow If you haven't seen this Slate's new business site, The Big Money, explains the "TED spread," which measures the confidence that banks have in lending to one another. As the Dow continues to plummet, it's helpful to understand another metric (which still doesn't offer much room for optimism right now).
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POPSMore liquidations coming? In the past few years, not only were banks and hedge funds willing to find a way to give loans to desperately struggling companies, but most companies were able to get debtor-in-possession financing to weather bankruptcy. Retailers like Linens N Things might have had the option to enter bankruptcy protection, exit troublesome leases, and shape up its business. Is Linens N Things impending liquidation a sign that retailers and companies in other industries will be forced to liquidate irather than rework a business in bankruptcy?
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POPSThe only thing we have to fear.. Every day of the past few weeks, the markets offer new reasons to be fearful of what the economy will spring on all of us worldwide. This column offers not so much solace but at least a few ideas of where to look. Benjamin Graham's book is a worthwhile read for all investors and individuals at all times but may be even more worthwhile to understand the market fundamentals.
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POPSBudgeting Time? Times' "Your Money" Ron Lieber suggests we skip the dreaded "B" word and try out a free web site to sort expenses. A good idea for small businesses owners and everyone. Why not take control over the things we can control like discretionary spending? Most small business owners fund at least some of the business with personal savings. Might be time to keep an even closer eye on the personal budget.
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POPSMr. Mayor Mr. Mayor Mr. Mayor Over the past few weeks, I've heard people throw Michael Bloomberg's name into the pool of hypothetical contenders for the Presidency, speculating that Michael Bloomberg could run for President today or tomorrow or even next week and clinch it. His name's been thrown around as a possible financial csar of the US. Bloomberg evaded the question on Meet The Press as to whether he would seek a third term. If the New York Times' report proves true, Bloomberg's next move could be the most shocking next step for the Mayor.
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POPSInspiration in trying times As Wall Street continues to get slammed today, this is worth a read. Our financial system may be shaken but entrepreneurs are continuing to invent and change the game of nearly every imaginable industry. All of the businesses the WSJ highlights are exciting ones.
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POPSIn a world with so few certainties.. Friday night's debate is still clearly up in the air. It's still very difficult to follow McCain's logic of why debating Friday night would keep the candidates out of the debate in Washington over the state of the economy. I think we all need to hear them articulate their ideas on what they'll do for the economy as soon as possible. Yes- when Congress acts on the "bailout", the implications will be huge, but the economic conversation needs to continue long after this round and November is coming soon...
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POPSShorting history Good article outlining the history of placing the blame on the shorts - not on the problem stocks or the market issues underlying what the shorts are betting against.
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POPSBuilding Customer Loyalty Moving into the holiday season, experts suggest small business owners build better relationships with core customers rather than slashing prices in an attempt to attract new ones.
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POPSCombining Phone And Internet Phone/Internet combination technologies are changing the way many entrepreneurs do business by helping them to become faster and more efficient.
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POPSChecking The Status Of Your Bank With banks closing their doors and consolidating as they have been over the past few weeks, small business owners may be concerned about how their bank is doing.
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POPSPresidential Shackles Good, if depressing assessment, of the next President's options. Over the next two months, it will be important for the media and the public to remember the handcuffs that this economic crisis and the ensuing bailouts have placed on the US government and judge the Presidential proposals accordingly.
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POPSDesk jockeys? Exercising probably makes most people productive and clearly many people have trouble fitting in exercise between work and family obligations. Not sure if running and typing is the best answer though!
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POPSHealing Wounds Inflicted by the medical system Dr. Pauline Chen's new column debuted today on the NYT online edition. Judging from the first one, it looks like it will be worth keeping an eye on. Her aim -- to lessen some of the distrust between doctors and patients - is a worthy one, and the written word may be a good start.
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POPSFinancial Partners Great section of the NYT and great advice -- Wealth and Personal Finance - for those lucky enough to need such advice. This piece on financial side of a marriage offers a good roadmap for building a long-term financial union with a partner. For small business owners and budding entrepreneurs -- this article deserves a read. Even if you're not going into business with your partners, you're likely putting your joint assets on the line.