The Treasury should be standing there with “arms wide open” to accept any of the TARP money a bank wants to pay back. Our government charter does not extend to the bailout of private enterprise entities, bank, automotive company or any other. However, we have allowed it and now that the funds have been disbursed, every effort should be made to get them back. That may be the intent of our Treasury but it doesn’t feel that way based on the way it is reported. (link to WSJ article below)
Related point: I am working a business turnaround situation with a client whose bank is a TARP bank. You would never know the bank has accepted money intended on helping business move forward. We have a valid business moving forward plan where the bank does not even have to advance any more funds. However the cooperation of the bank is required. They have chosen not to cooperate. I am told by other professionals working with companies and with TARP money banks that the attitude from the banks of not really helping is pervasive.
So the we allow the government to bail out these banks and the money is not being used to really help the economy. Amazing.
Sharing with all my readers the energy of peace, happiness and abundance
Steve Pohlit, Expert Business Consulting
Email Me, Steve Pohlit to schedule A No Obligation ConsultationOn Building Your Business Profits. Need more customers? Let’s discuss how to use cutting edge Social Media Marketing in the revenue building cycle of your business to drive your profits sky high. If your company is not growing revenue and profits, if your company is not cash flow positive Click Here for more information about Turnaround Consulting Services for Business In Crisis
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Here is today’s Wall Street Journal Article.
News Alert
from The Wall Street Journal
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Sponsored by NASDAQ OMX
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The Treasury Department said it will allow 10 of the nation’s largest banks to repay $68 billion in government bailout money.
The Treasury says the banks will be allowed to repay the money they received from the $700 billion Troubled Asset Relief Program funds. The banks have been eager to get out of the TARP program to escape government restrictions such as caps on executive compensation.
The Treasury Department did not name the banks involved, but Morgan Stanley said it is repaying $10 billion in TARP capital.
http://online.wsj.com/article/SB124455528999797923.html#mod=djemalertNEWS
“One path to answering this question is to consider the different functions within a business. For example, a typical accounts payable function currently is not enhanced by an iPhone. Account payable staff have the resources to do their job. Alternatively a technical field representative who is mobile could very well benefit from continually developing iPhone technology.
I appreciate this question as the use of cell phones and technology devices including the Blackberry and iPhones is a very topical question with business owners who I guide to making more money with their business.
In summary I am not an advocate of a universal policy allowing or prohibiting such devices. My advice is to decide at the functional level.”
Recently Entrepreneur.com Published An Article On Squeezing Out Profits In Tough Times actually titled “Less is More” This is an area where I have considerable experience and expertise. Today, I submitted my comments which followed the logic of my FREE Report offered at IR Consulting, Inc. and mentioned for the readers of Entrepreneur the availability of this report.
Last night I was reviewing the update to Traffic Jam which is John Reese’s site and it really is marvelous so I encourage you to look at my Blog Rush widget on the right side of this page and click through and sign up for an account for your blog. Then your blog entries feed Traffic Jam. A word of caution: if your blog is new I would wait until you have a reasonable volume of posts before applying for an account, as that is one of the criteria for acceptance. One of the values of Traffic Jam is for you to quickly see blog content published in your area of interest. When you do I recommend commenting on the blog posts and including your site links which is a great way to get back links to your site.
In summary, published content is one of the actions that add credibility to your business. I am more focused on publishing certain of my content in areas most likely visited by my target audience. The Wall Street Journal, Business Week, Entrepreneur Magazine are examples of where I have published content recently.
With the increasing volumes of information being published primarily as a result of more blogs coming on line daily, it is in your best interest to identify where your target customer is most likely to be visiting. Then focus on attracting their attention with content that delivers value and demonstrates you know what you are talking about.
Sending all my readers the energy of vibrant health, happiness and prosperity.
Steve Pohlit
http://www.stevereports.com
Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool is The Prosperity Tool Chest