I Don’t Want A Second Term For Obama.. Here Are Just Some of The Reasons:
| It must stop. The insanity, the LIES, the extreme domination OBUMA is bent on. When you see the plans that have just been uncovered for his second term in office, you’ll be blown away.It is the likes of NOTHING we have ever seen here in America.
America’s Fraud President has risen to the level of extreme—extreme socialist, extreme cunning and control and ultimate domination. What is all of this leading to? The EXTREME DESTRUCTION of America. The land of the free and the home of the brave—the country we so love—now being brought to her knees. We must FIRE HIM NOW Patriots. There’s no time to spare. The elections are coming soon and if he is reelected, the darkest days will be yet to come. Behind the scenes Liberal Progressive groups have been working overtime, crafting Obama’s second-term all-out annihilation plan. Do NOT kid yourself: these organizations are powerful—and their plans will obliterate America as we know it. Here’s what we learned this week… In a new book just released, “Fool Me Twice: Obama’s Shocking Plans for the Next Four Years Exposed,” New York Times best-selling authors Aaron Klein and Brenda J. Elliot spill the raw details of Obama’s evil master plan. Mind you, this book is based on exhaustive research into Obama’s upcoming presidential plans and policies, as well as second-term recommendations of major progressive groups behind Obama and the Democratic leadership. These are the very organizations given free rein to craft legislation and set the political and rhetorical agenda for the president and his allies— and they have more power than you can imagine. If you thought the first four years were bad, wait until you read what Klein and Elliot have uncovered: extensive plans created by Obama’s own top advisors and progressive strategists that build government power at the expense of American citizens. This is not for the fainthearted— it’ll disgust and enrage you! We must get the word out not only about the unending frauds—from the forged birth certificate to his tightly sealed records—but also about America’s Fraud President’s disgusting second term plan. We need your help because we cannot do it alone. Spread the word far and wide with as much urgency as you can. People must know about all of this. Then donate now to help us continue making massive numbers of calls around the nation, alerting your friends, neighbors, coworkers and others about the Obamatrocities that have taken place—and those about to incur. With your help we can boost our efforts to the highest levels.  It’s not pretty and don’t say I didn’t warn you. Despite Obama taking credit for the bailout and “rise” of the auto industry, we all know he lies. All the unions were paid off and all the shareholders got…screwed. Yet the King touts it as if he were the savior. Here’s the thing: Now Obama is saying he wants to repeat that “success” in every manufacturing industry. Do you know what will happen if the government continues to stick its grubby hands in the private sector? That’s right: the destruction of America. No more capitalism and free enterprise. It will be DESTROYED, obliterated, wiped out. Can you believe he actually wants to give even MORE money to the green industry—despite wasting billions in taxpayer dollars to fund now BANKRUPT solar companies? Can you say Solyndra? Remember, Obama donors had ties to those companies. Corruption and cronyism running rampant at whose expense? OURS! Fool Me Twice details recommendations for more government funds to be doled out to manufacturing industries and specifically, the “green industry.” Yep, you heard right. Adding fuel to the already out-of-control fire, a report by the de facto policy nerve center for the White House—the Center of American Progress—recommends a federal “green bank” that would loan funds or grant them to co-called clean energy companies. Okay so we have a government that is spending OUT OF CONTROL and they want to create a “green bank.” Oh, it gets worse. Here’s the plan: “…the proposed Energy Independence Trust would hold sufficient reserves to protect the Treasury for loan losses, and would be able to offer a variety of debt-and equity-based financial instruments, loan guarantees and tax incentives to draw a wave of private capital into the clean energy sector.”— Excerpt from “Fool Me Twice” OH REALLY? The government who can’t run ANYTHING successfully wants to create a “green bank.” Remember what has happened to all the other government run or funded programs: BIG, FAT FAILURE! To top it all off, the report calls for the Department of Energy, Department of Housing and Urban Development and the Department of Transportation to join forces—of all things to fund a slush fund!!!! Calling it the Partnership for Sustainable Communities, its main job would be to “improve access to affordable housing, increase transportation options and lower transportation costs while protecting the environment.” Sure, guess who will be the first to BANKRUPT the slush fund? Obama and his political minions. Every single government-run program in history has been a DISASTER. Name ONE that is successful or hasn’t been run or isn’t currently being run into the ground by government mismanagement. Government track record: 100% FAILURE RATE
“Economic Fairness” is rearing its ugly head again. As Klein and Elliot put it in “Fool Me Twice,” this is just more of raunchy rhetoric from Obama that comes straight from the Marxist concept of “economic justice.” Bottomline: you can kiss your salary based on performance, skill and worth goodbye. Under Obama’s second term plan, the government would gain sweeping powers that would require employers to pay you according to some pie-in-the-sky fake calculation of a job’s “value”—oh no, not what the private marketing is willing to pay for your skills but what the GOVERNMENT values your job at. Talk about sending shivers down your spine. Get this. Other government agencies would allow bum bureaucrats to decide which jobs are underpaid and would require that employers raise wages. What’s wrong with this? EVERYTHING. So you’re out there working hard to earn a good living and some lazy blowhard who only wants handouts is going to get a raise because the government has decided he or she is underpaid—and should be getting paid what you’re being paid. NEVERMIND the lazy asses who don’t want to work. YEP, there goes another government “gimme” at our expense. Another equal distribution of everything you make and work for. Then there’s the LIVING WAGE. Barack ‘bad economy’ Obama would raise the minimum wage for all employees across the country. The “Living Wage” is a pet project of ACORN. Enough said? Just to ensure you see the big picture, it has been tried in more than 80 U.S. cities and has had DISASTEROUS EFFECTS many times over. We must FIRE HIM NOW before he inflicts such monumental damage that can never recover. He is bent on abandoning and betraying the working class AND small business to institute his welfare class—a society that is more dependent on government and government handouts. What does that accomplish? A government that holds the power over the people. Let me enlighten you. According to Fool Me Twice, among the ASSAULT ON AMERICA Obama plans to carry out in his second term:
We must get America’s Liar-in-Chief out NOW. He is a threat, a danger and a menace to America. He is committing nothing less than heresy to the Constitution and the people of the United States!!! Do you agree? Are you sick and tired and screaming “WAKE UP AMERICA, WHAT IS WRONG WITH YOU PEOPLE THAT YOU CAN’T SEE THIS?” Does he make your skin crawl? Do you feel like you’re going to explode every time you hear another lie spewing from his mouth? Do you just want to stand up and slap him across the face for the disgrace he brings to our country? Can you even stomach the thought of ANOTHER FOUR YEARS that will be nothing less that sinister socialism, evil dictatorship and extreme control over American citizens lives? Okay, then you must ACT NOW. Time is running out and you must step up and do your part. Get ready to do battle with the enemy. None of this “yeah I’ll do it later” do it NOW! Elections are less than 12 weeks away.
Washington D.C. –The Tea Party no longer has the luxury of simply trying to win, it is now “do or die” for America. The struggle is between a socialist agenda and the survival of the Free-Enterprise Republic. Decide now to join us in our fight…or be doomed to live in a country that is shackled and socialized. There is no middle ground. To be perfectly clear, if the Tea Party falters now…if we lay back or slack off then America will be gone forever.  American citizens have witnessed firsthand the destructive power of Obama’s socialist agenda and seen, with their own eyes, the destruction that Sal Alinsky tactics have brought. Dr. Corsi has travelled to Washington, D.C. to meet with powerful people on behalf of the Tea Party and 1776 Nation. In a moment of time he puts pours his heart out to the Tea Party, imploring them to put Romney/Ryan in the White House and FIRE OBAMA and his minions. Dr. Corsi created this video just for you!
Dr. Jerome Corsi, PhD. Tells The Tea Party: “MOBILIZE!”
Furthermore, because of new revelations, Dr. Corsi is adding to his bestselling book “ObamaNation” new and previously undisclosed information which no doubt, will send shockwaves of fear through the liberal regime and shake America to the bone! We cannot afford another four years of America’s Fraud President, OBUMA. Get off the couch and get going. We need you now more than ever. Donate now to help fund our efforts to fire his sorry ass before he can deal us the most catastrophic blow of all: turning America the free into America the shackled, led by an evil dictator. We already have complete lawlessness running rampant through the O’Socialist administration. Now we learn (not like we are surprised mind you) that… You are already seeing some of this take place in his attacks against Mitt Romney—commercials FILLED with nothing but FLAT OUT LIES. It’s outrageous! How can this be—that he would pull off something so huge? According to the Whistleblower, which has done an in-depth report on this issue, Obama and his corrupt administration are already at it. They… - Consistently suppress, disqualify and mishandle votes cast by our own military men and women—those deployed overseas protecting our country. Do you know: in the November 2010 mid-term election, less than 5 percent of military voters were able to cast an absentee vote that counted, according to data released by the federal Election Assistance Commission? Well sure, because they tend to vote Republican and NOT in Obama’s favor. Our own military men and women ROBBED of their vote. What’s more as part of the ROB THE VOTE plan:
In recent days, the Obama Regime has attacked the:
But the truth of the matter is clear, open and concise. While Obama strains to accuse Romney of horrible and despicable acts, the people of the Tea Party know better! We also know that O’Liar and his sheep will stop at nothing to smear conservatives and those with good Christian values—just to win the election. They have no souls, no conscience. We are less than 12 weeks from Election Day and there is absolutely no time to waste. Nor do we have time for panty wastes so get going. We can’t do this alone, we have to do it together at the grassroots level. We are doing it—as evidenced in the Tea Party victories across the nation—Ted Cruz of Texas being the latest victory. But…we need you to donate now to keep our efforts on turbo-charge. We’ve had to really ratchet up our efforts the closer we get so anything you can do—a donation large or small will help! Donate $23 and you help us reach 100 households. $230 reaches 1,000!!!! Whatever you can give will fuel our efforts to get the word out to FIRE OBAMA! Fire him before he takes down America. It takes an army to get this stuff out…coordinate the campaign efforts, create the messages, distribute the messages and reach the people. People who deserve to know that Obama is evil incarnate. We will NOT put up and shut up nor will we let those who tend to be apathetic. Look how far your dollars can go when you donate to our campaign to SEND HIM TO THE UNEMPLOYEMENT LINE!: How many households will you help at .23 cents each? 100 Households - 23.00 250 Households - 57.50 500 Households - 115.00 1,000 Households - 230.00 2,000 Households - 460.00 4,000 Households - 920.00 10,000 Households - 2,300.00 Many Households - DONATE  The REIGN OF TERROR is upon us Under his Reign of Terror there has been nothing less than oppression, suppression and depression and now he plans even MORE government control by deciding how much money you can make, for starters. Under his pathetic “leadership” if you can even call it that, the country has disintegrated. Think about it:
VICIOUS LIES—MOUNTAINS OF THEM! NO MORE… say “HELL NO” to 4 more! If you feel this way then DO SOMETHING NOW. Who is this evil force…satan in a suit? He is one who conceals more than he reveals.  It’s time to get super nasty—nastier and more vengeful than we have ever been. The gloves are off. We won’t stop until we’ve ripped him to shreds and he cowers off to wherever he really came from. We won’t stop until more conservative, Constitution-loving Christians take back control of Washington. The momentum has already started and we are now in the middle of a ferocious campaign to FIRE AMERICA’S FRAUD PRESIDENT—TAKE HIM OUT. You ain’t seen nothin’ yet. If we don’t rid ourselves of this monster now, he’ll take from the mouths of your family and give it to illegals who don’t want a job, only a handout. Most recently Obama declared welfare recipients don’t even have to prove they are looking for a job. INSANE! INCREDULOUS! INANE! As Obama disembowels our Free-Enterprise Republic, his liberal lunatics cheer him on. They drank the Kool-Aid and apparently did the drugs. Clearly they’re STILL doing them. But YOU have the POWER to make things happen. Donate now to keep the campaign to blow America’s Fraud President out of office going strong. We depend on you and need you. Our country needs you. If you’re going to sit back and say “my vote doesn’t count, I can’t do anything by myself” then kiss off. That kind of slacker crap attitude is a vote for Obama. If you’re going to sit there and say “Well, I don’t like the other candidate so I’m not going to vote” then you’re casting a vote for Obama and the total destruction of America. Remember what he has done thus far:
PS: You need to help us spread the message far and wide, like never before. The American people need to know before they go to the polls, what the true face of evil has done and plans to do:
“HELL NO! WE WON’T LET YOU!”  |
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This information is shared with my lists, groups and more because it is important to create awareness now on the choices we have come this November. If you are opposite the view in this post, I respect your right to freedom of thought and speech and you are welcome to post your comments here:
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| Steve Pohlit is a CPA,MBA and has been the CFO of several major domestic and international companies. Today Steve is an expert business consultant focused on helping companies improve their business performance including growing profits, revenues and customers. For a FREE 6 week mini course where you will receive 10 easy to implement action steps guaranteed to increase business revenue and profits by at least 30% in the next 90 days, please visit www.StevePohlit.com All articles published by Steve unless specifically restricted may be freely published with this resource information. |
The Economic Problem Explained by Heidi’s Bar
Heidi is the proprietor of a bar in Detroit ..She realizes that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronize her bar.
To solve this problem, she comes up with a new marketing plan that allows her customers to drink now, but pay later.
Heidi keeps track of the drinks consumed on a ledger (thereby granting the
customers loans).
Word gets around about Heidi’s “drink now, pay later” marketing strategy and, as a result, increasing numbers of customers flood into Heidi’s bar. Soon she has the largest sales volume for any bar in Detroit .
By providing her customers freedom from immediate payment demands, Heidi gets no resistance when, at regular intervals, she substantially increases her prices for wine and beer, the most consumed beverages.
Consequently, Heidi’s gross sales volume increases massively.
A young and dynamic vice-president at the local bank recognizes that these customer debts constitute valuable future assets and increases Heidi’s borrowing limit.
He sees no reason for any undue concern because he has the debts of the unemployed alcoholics as collateral!
At the bank’s corporate headquarters, expert traders figure a way to make huge commissions, and transform these customer loans into DRINKBONDS.
These “securities” then are bundled and traded on international
securities markets.
Naive investors don’t really understand that the securities being sold to them as “AAA Secured Bonds” really are debts of unemployed alcoholics.
Nevertheless, the bond prices continuously climb – and the securities soon become the hottest-selling items for some of the nation’s leading brokerage houses.
One day, even though the bond prices still are climbing, a risk manager at the original local bank decides that the time has come to demand payment on the debts incurred by the drinkers at Heidi’s bar. He so informs Heidi.
Heidi then demands payment from her alcoholic patrons. But, being unemployed alcoholics — they cannot pay back their drinking debts.
Since Heidi cannot fulfill her loan obligations she is forced into bankruptcy. The bar closes and Heidi’s 11 employees lose their jobs.
Overnight, DRINKBOND prices drop by 90%.
The collapsed bond asset value destroys the bank’s liquidity and prevents it from issuing new loans, thus freezing credit and economic activity in the community.
The suppliers of Heidi’s bar had granted her generous payment extensions and had invested their firms’ pension funds in the BOND securities.
They find they are now faced with having to write off her bad debt and with losing over 90% of the presumed value of the bonds.
Her wine supplier also claims bankruptcy, closing the doors on a family business that had endured for three generations, her beer supplier is taken over by a competitor, who immediately closes the local plant and lays off 150 workers.
Fortunately though, the bank, the brokerage houses and their respective executives are saved and bailed out by a multibillion dollar no-strings cash infusion from the government.
The funds required for this bailout are obtained by new taxes levied on employed, middle-class, nondrinkers who have never been in Heidi’s bar.
Now do you understand?
Action Steps
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About: Steve Pohlit CPA,MBA has been the CFO and COO of major domestic and international companies. Steve has extensive business ownership experience having purchased and started off line and on line businesses.
Steve offers his build business profits expertise to companies and entrepreneurs with business coaching and business consulting. His focus is on building business profits and net asset value at above average rates. Steve incorporates health and wellness plus relationship guidance in his work as they are at the foundation of achieving all goals.
All articles published by Steve unless specifically restricted may be freely published with this resource information.
BP Oil Spill Business Losses:How Claims Will Be Calculated
There are an increasing number of headlines speculating about the extent of damage and related litigation stemming from the BP oil spill.
There are three parts to a claim for business losses. There is the physical loss say in the case of a fire and then lost profits due to business interruption. In addition, there are punitive damage awards. This is where a business is awarded compensation over and above actual losses. These are called punitive damages and are typically for pain and suffering. Normally in the case of a accidental fire or damage from weather (natural cause) there would be no basis for punitive damages. The BP oil spill falls into the category of an event that likely has the basis for punitive damage awards.
Consider a seafood restaurant on a coast line that has been family owned for generations. It has a great reputation and has been consistently profitable. Within weeks of the BP oil spill on the news sales began dropping, continued to drop get worse. For example, say the restaurant has been doing $2.0 million in sales and earning $200,000 profit before tax. Sales and profit growth rate has averaged 8% per year for the last five years..
Where there is physical damage and business is interrupted, there is the predicable loss of profits from business that would have continued had the business not been damaged. However, when the supply chain is interrupted because people no longer have confidence in the food or where the fish supply is greatly reduced resulting in much higher prices, that is a different story.
Assume sales drop to where it is not possible to remain in business. There are a multitude of issues. It is unlikely the restaurant can be sold as a restaurant since the market has lost confidence in the quality and availability of the product. What about alternative use for the property. Eventually there is always an alternative use. However, the business or buyer having an alternative use in mind is likely looking to acquire the property at a distressed price.
Bottom line… any outcome other than the sale of the business as a viable going concern with a predictable cash flow based on verifiable results is going to be a distressed sale. Losses in this situation will be future earnings plus diminished value of the property plus punitive damages for pain and suffering.
What would I recommend to a client whose business is destroyed or severely damaged by he BP Oil Spill?
1. Hire the best lawyer possible with a contingency fee arrangement. The best lawyer is one who has experience with business interruption loss experience and a track record of winning awards beyond physical losses. I would research lawyers who have won similar cases. The BP oil spill is not the first one.
2. Be sure to have a business expert as part of your professional resource team. This may seem self serving. It is not. You need a business professional to work with your attorney on a practical strategy that will hold up in court. The stronger your position the more likely for a quick equitable solution outside of court. In settlement you want a balance of business and legal advice.
I welcome and encourage all comments from attorneys, business valuation experts and those whose businesses are potentially affected by the BP oil spill.
Steve Pohlit
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About: Steve Pohlit is a CPA,MBA and has been the CFO of several major domestic and international companies. He is an expert business coach and consultant focused on building business profits and net asset value at above average rates. All articles published by Steve unless specifically restricted may be freely published with this resource information.
Re: New York Times: U.S. Racing Toward Debt ‘Shock’
The reason this headline is so important is because while many companies and entrepreneurs will continue to do well in this country, what is possible to accomplish is being extinguished by our government and what is being achieved has a high probability of being extinguished by the burden of debt.
For a long time I would look at our politicians and the general trends and conclude that is not an arena that I appreciate and it is somebody else’s life. Now I look in the mirror. I and all the voting citizens in this country are responsible. That is right. As a nation, we voted for people who look to the latest trend of what is popular so they are re-elected. We voted for a president who campaigned on being critical of the debt of the prior administration and then came in and drove that debt into the stratosphere. Obama should be fired now for that fact alone among others. Just for the record, there are a lot of people who should be fired and leave with him. Nothing personal …this is business.
Have we ever voted for a person who stands for the principles of our Declaration of Independence and Constitution? Actually I am not aware of anyone winning on that platform. I am aware of people running on that platform. We didn’t like that idea because that platform holds us as individuals accountable for life, liberty and the pursuit of happiness. It does not say, I am from the government and will solve your problems. That formula clearly does not work.
This is a business blog with my focus being to offer sound guidance on helping companies and entrepreneurs move their businesses forward in profit at accelerating rates of profitability. Notice I said at accelerating rates of profitability, not accelerating debt like our government is doing.
So Why The Political Platform?
This is not a political platform. It is a business platform on the topic that our policies are going to drain America unless we take action. The action I recommend is based on business principles as I am not a politician at all. If the US Government were a consulting client this is how I would approach it:
1. Clear definition of purpose: I feel there is a clear definition of purpose for our government and we the people have allowed people in office to ignore it. So let’ s use our foundation principles as the evaluation point and if our elected officials have not demonstrated compliance, we fire them.
2. Who replaces the masses that are fired? People with experience running large organizations and know what it means to be accountable for compliance with the charter of why you are formed. Who are these people? There is no shortage, there just is not a system in place to elevate them including a fair compensation system. Get past the “you have to have been an angel all your life standard and we are only going to pay you $400,000 a year for being President. I would vote for paying the right leadership $100 million dollars a year and link that to performance standards with base pay of $25 million. Now you have the attention of some talent.
3. Key Tenant: basic economic and universal laws.
4. Tough stuff: the one way for this to be accomplished is to recognize the difficulty people have with change and then have leadership in place prepared to deal with the constituencies that say these changes are unacceptable. These opposition groups should be in the minority if the leadership and related communication is in place.
Who Am I To Speak?
I am an American and I have my share of successes and failures. As a human, I have made good choices and some I would do differently. Do I have all the answers? No but I do know this…I support the founding principles of life liberty and the pursuit of happiness and our government does not. I am tired of that and I am speaking out .. and you?
Sending you energy of health, happiness, prosperity
Steve Pohlit
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About: Steve Pohlit is a CPA,MBA and has been the CFO of several major domestic and international companies. Steve is a business owner and an expert business consultant focused on building profits and net asset value. He is very experienced with Internet marketing and social media marketing. All articles published by Steve unless specifically restricted may be freely published with this resource information.
More
There is going to be more from me on this and I hope a lot of others as well. For now here is the article that resulted in my conclusion I have had enough.
New York Times: U.S. Racing Toward Debt ‘Shock’ |
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| A page one, top-of-the-fold New York Times report Monday warns that U.S. debt is rising so fast that the federal government is careening toward a “payment shock” in the not-too-distant future.
The Times lead headline read: “Federal Government Faces Balloon in Debt Payments: At $700 Billion a Year, Cost Will Top Budgets for 2 Wars, Education, Energy.” The Times headline appears eerie just as the Senate moves to push forward on a radical healthcare reform — with CBO estimates for a final bill costing nearly $1 trillion dollars over the next year. The national debt now stands at over $12 trillion and the White House estimates that the cost of servicing the debt will rise to more than $700 billion a year in 2019, up from $202 billion this year. The Times suggests that $700 billion annual payment cost may be conservative. The additional $500 billion a year in interest payments would surpass the combined budgets this year for education, energy, homeland security, plus the wars in Iraq and Afghanistan, the Times observes. Treasury officials face not only huge new debts incurred in response to the economic meltdown but a balloon of short-term borrowings coming due in the months ahead, and interest rates that are certain to return to normal levels when the Federal Reserve concludes that the fiscal emergency has passed. “Even as Treasury officials are racing to lock in today’s low rates by exchanging short-term borrowings for long-term bonds, the government faces a payment shock similar to those that sent legions of overstretched homeowners into default on their mortgages,” The Times reported on Monday. Interestingly, the alarming Times analysis comes as the nation is in the midst of a debate over healthcare reform proposals that could add many billions of dollars to the overall debt. Record deficits have arrived just as payments for Medicare and Social Security benefits are set to explode, with the oldest Baby Boomers approaching age 65. This will result in what experts have long warned will be a “fiscal nightmare” for the government, the Times article notes. “What a good country or a good squirrel should be doing is stashing away nuts for the winter,” William H. Gross, managing director of the Pimco, a bond management firm, told The Times. “The United States is not only not saving nuts, it’s eating the ones left over from the last winter.” As for the balloon of short-term borrowings coming due, that debt now accounts for 36 percent of overall debt, compared to the historic average of less than 25 percent, and more than $1.6 trillion is due by March 31. Another problem: The Federal Reserve’s purchases of Treasury bonds and mortgage-backed securities to prop up the economy pushed down long-term interest rates by about half of a percentage point, but the Fed is set to reverse those policies — that alone could add $40 billion to the government’s annual debt service expense. The Treasury Borrowing Advisory Committee, a group of market experts that advises the Treasury on debt management, declared this month: “Inflation, higher interest rate and rollover risk should be the primary concerns. Clever debt management strategy can’t completely substitute for prudent fiscal policy.” And The Times warns: “There is little doubt that the United States’ long-term budget crisis is becoming too big to postpone.” |
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How Can This Be Good: Two More Banks Fail, Bankruptcies At New Highs, Commercial Loans Ready To Implode
If you have followed this blog you know I am a fan of Bill Bartmann. He is a rags to billionaire riches story and most of his wealth came during an economic climate similar but actually less serious than what we are facing today. I follow Bill because he deals in reality and looks for the opportunity in what other see as a disaster.
This email I received from highlights some startling fact about our economy. Personally I some direct experience with our financial institution industry and if anything Bill may be understating the pending failures. As for the opportunity Bill suggests, that is up to you. I am not an affiliate, I am not paid to publish this on my blog, I make no money from sharing this with you. I feel Bill is on the mark and come to your own conclusions.
I have been on several of Bill’s calls and I have studied his book Bailout Riches which I highly recommend if you have an interest in the details of how this works. If you are intrigued you now have the information on the next steps.
Steve Pohlit
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Well, it is terrible – but it is also some of the best news you could ask to hear!
Gangster Government
I hope you understand this is not an Republican vs. Democrat issue. This is our government playing a role where it doesn’t belong and when it does the consequences we experience.
Sharing with all my readers the energy of peace, happiness and abundance
Steve Pohlit, Expert Business Consulting
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BONUS
Did you watch the entire video?
You didn’t ? I honor your love for accepting all in this country as is and the direction it is moving.
You did? How cool is that? Did you notice the song at the end of the video. Here is a video of that song. Click Here
DOUBLE BONUS
Did you notice the information on the organziation who published this video? It is from The Kick Them All Out initiative and I am now a card carrying member. Decide how you feel about it and Listen To Your Heart. There are 761 people who have paid attention and pledged to vote so all incumbants are fired.
Financial Crisis, Turnaround Consulting
An independent business owner contacted me after reading several of my articles on business turnaround consulting and business process improvement consulting. She asked if I could help her. I asked if she would write me note about her situation. The following is her message:
Steve,
I decided to get in touch with you because I am very close to running out of cash. I don’t know how I will pay on my loan payments next month because at the moment I don’t have any funds for that.
I feel like I am really close to generating positive cash flow with my business but I am still stressed about how I will pay on all accounts/loans that I am responsible for. I feel like I just need to buy myself more time.
I am doing my best to maintain my positive attitude, faith, and belief but I am scared. I’ve applied for additional credit cards but have been denied. As a result, I’ve started to search for a job, which I know is taking my focus off of where it is I want to go.
Financially, I’ve never been where I am at the moment.
If you can help, I am grateful. Even if you are unable to, I am still grateful.
Thank you,
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I asked her permission to publish this on my blog as I have actually been planning to write an article about what many people are experiencing for a variety of reasons. Full disclosure: I am a business turnaround and business process improvement expert. I am not a personal financial planner, personal bankruptcy lawyer, personal financial counselor. My experience in this area are very direct and from the streets. If you would like additional support for what I about to tell you, read Bill Bartman’s book “Bailout Riches”.
Notice some very important words in this lady’s description of her situation: faith, belief, scared, “I am responsible”. So my response is written for those who have similar feelings.
About Being Scared:
This is natural particularly since this is the first time she has found herself in this situation. The key is to acknowledge that and just move outside of yourself and observe it. This takes some practice but it can be done. Realistically, we become scared of losing our life, our “stuff”, a place to live and starving. In the worst case scenarios a woman will be not homeless. Nobody will starve to death and stuff can be replaced when the economic situation turns around. In my belief system I have learned how not to fear death. Once you no longer fear death then there is really nothing else to fear. On that topic “Home With God” by Neale Donald Walsch is a great read.
Now I know writing about fear and being scared does not make it go away. You can release these emotions. In fact you must release these emotions or you will have difficulty moving forward which is really what your intending to do. Now for the art of the practical of why you can expect:
I am going to assume she is fairly current on her payments and realizes that will change next month. My advice is to stay focused on immediate needs only while continuing to solidify cash flow from her business. Immediate needs are food, utilities and those service needed for her business. These generally include Internet service and phone service. TV service is not an essential. Car insurance is. The key is to evaluate true essential spending.
For now paying credit card debt and mortgage payments are also not essential. If you are a renter, you may have less time in your place than if you have a mortgage.
Going Forward
This lady mentioned feeling like her business is close to cash flowing. I recommend anyone who has a business ask someone else with business experience for a realistic evaluation of that feeling. This is the number one item I work on in a business turnaround after addressing immediate cash management issues. With the confidence of how a liquidity crisis turns around you can navigate any obstacles. Now if you don’t have that confidence then you should begin pursuing plan B. She mentions looking for a job. That may not be her first choice but it may be a realistic stepping stone until she can turn her business cash flow positive. That is for her to decide.
What To Expect From Credit Card Companies and Banks
The reality is you will get a lot of phone calls. Most of these calls will be made by a computer. So it is a great idea to have a caller id phone that you can put on silence or vibrate. You don’t want to answer a call unless you know the caller and you want to talk to them. The natural inclination is to want to talk to the representative on the phone. I don’t recommend wasting your time doing that until you can tell them you have restored your ability to pay.
Credit card companies will threaten to file suit. They won’t. Read Bartman’s book. You can become delinquent more than 90 days if it takes that long to restore cash flow. Close to the 90 day mark they will be willing to cut all kinds of deals with you. If you take one of them know that they will not reactivate your card. I know the credit card companies will accept settlement at 50% of the amount due and take that over 3-5 monthly payments. They do not want you to know that. And as soon as I write that I am sure someone will say there are even better deals than that.
I am not advocating not paying what you owe. However, the credit card companies have no problems charging very high default rates and late fees. Your responsibility is to position yourself to go forward.
Get used to the phone ringing and don’t take it personal. First a computer is dialing and then at some point when you decide to talk with someone because you have a proposed solution then recognize they are not your enemy or your friend. They are simply doing their job.
You can expect the calls to start at 8AM and end at 9PM Monday through Saturday and noon until about 8PM on Sunday.
Mortgage or Rent
Because mortgages go through a foreclosure process it can take quite some time from start to finish. Rent on the other hand is a bit more dicey depending on the market you live in. The meltdown leading to the high foreclosure rate has driven up demand for rental units. So you could be facing a situation of eviction 60 days or so past the due date.
Generally if you are able to pay a portion of what is due that will buy some time. Mortgages move from the normal mortgage service department to a foreclosure processing department. Expect notice of intent to foreclose and calls. Don’t panic you have time. But keep moving on you go forward plan. Foreclosures and evictions do happen.
Brief Summary
What I have tried to do is paint the picture of what you can expect. There are variations of course and timing can vary depending on the credit card company and bank. Ultimately you have a lot of room to negotiate just about everything related to debt. Utilities no since they will just cut you off. But debt yes. However, in order to negotiate you must have something to negotiate with. You ultimately have to have a source of cash flow to negotiate.
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Newt Gingrich Writes: Once, We Would Have Called It A Scandal
In my business development consulting practice I encounter situations where filing for reorganization with protection of Chapter 11 of the Bankruptcy Code (Federal Law) seems to be an option. Consequently I follow with interest some of the more high profile cases. I am amazed at the application of this Federal Law. I was thinking it seems the rules are at times re-written for the convenience of special interests.
This email from Newt is a great report on the recent bankruptcies of Chrysler and GM. This is well worth paying attention to since the issues are not about Chrysler and GM, it is about the breakdown in our political and judicial system.
Newt’s entire email follows. Thank you Newt Gingrich.
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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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Once, We Would Have Called It a Scandal
by Newt Gingrich
There was a time when we would have called it a scandal.
In 1921, oil tycoon Harry Sinclair gave several prize head of cattle and around $269,000 to President Harding’s Secretary of the Interior, Albert Fall.
In return, Sinclair got the exclusive rights to drill in an oil field in Wyoming. Sinclair’s no-bid contract became the Teapot Dome scandal, the most notorious example of political corruption in America prior to Watergate.
Between 2000 and 2008, the United Auto Workers (UAW) union gave $23,675,562 to the Democratic Party and its candidates.
In 2008 alone, the UAW gave $4,161,567 to the Democratic Party, including Barack Obama.
In return, the UAW received 55 percent of Chrysler and 17.5 percent of GM, plus billions of dollars.
But nobody’s calling this a scandal. It’s time we start.
2000-2008 UAW Giving: $23.7 million to Democrats. $193,540 to Republicans
The almost $24,000,000 the UAW has given to Democrats since 2000 compares with the $193,540 the union has given to Republicans.
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In the 2008 presidential election, President Obama was by far the biggest recipient of UAW contributions, raking in $27,340 compared to the $10,600 given to Hillary Clinton, the No. 2 recipient of UAW money.
And so it was no surprise to the cynical Washington political class when the payback began with the Chrysler bankruptcy.
In a rigged proceeding in which the federal government disregarded bankruptcy law in favor of the political outcome it desired, the Chrysler bankruptcy laid the predicate for the much larger General Motors bankruptcy to come. Against law and precedent, the unions were moved to the front of the line when it came to who would benefit from the bankruptcy.
The Obama Treasury Department strong-armed Chrysler’s creditors into a deal in which the UAW was given 55 percent ownership of the company while Chrysler’s secured creditors – investors who would have received priority in a non-political bankruptcy proceeding – were left with just 29 cents on the dollar.
On Monday, the Supreme Court Delayed the
Completion of the Chrysler Bankruptcy
Some of these secured creditors, led by a group of Indiana retirement funds, are fighting back. They’ve charged in court that the Chrysler bankruptcy violated the bankruptcy laws and violated their rights as senior lenders.
On Monday, the Supreme Court put a hold on the Chrysler bankruptcy to hear their case.
We don’t yet know which way the high court will rule, or if it will rule at all. But we do know what’s at stake. Indiana State Treasurer Richard Mourdock put it well:
“The issue of secured creditors’ rights is bigger than Chrysler. It’s an essential foundation of our capital markets. And fundamentally, this is about the law.”
“Never Has an American Union Done So Well At
the Expense of Shareholders and Creditors”
But the Chrysler bankruptcy was just prelude to the Obama-Administration-brokered General Motors bankruptcy deal announced last week.
The GM deal is yet another example of rank, taxpayer-financed political favoritism.
Once again, the big losers are GM’s bondholders, who include substitute teachers in Florida and retired tool and dye supervisors in Michigan. They hold $27 billion in GM debt but are receiving a 10 percent stake in the new company.
In contrast, the UAW, which is owed about $20 billion from GM, is walking away with 17.5 percent of the company and a cool $9 billion in cash.
According to one analysis, while the bondholders will be lucky if they recover 15 cents on the dollar, the UAW can expect to recover up to 60 to 70 cents on the dollar – four to five times what the bondholders will receive.
As Barron’s Magazine wrote, “Never has an American union done so well at the expense of shareholders and creditors”.
“At a Time When Some American Workers are Facing Stiff Pay Cuts, UAW Workers Gave Up Their Customary Paid Holiday on Easter Monday”
Of course, the Obama Administration has assured us that the United Auto Workers has made “substantial concessions” as part of the bankruptcies that have literally saved the union from extinction.
But as no less than the Washington Post put it, the “union concessions were ‘painful’ only by the peculiar standards of Big Three labor relations: At a time when some American workers are facing stiff pay cuts, UAW workers gave up their customary paid holiday on Easter Monday and their right to overtime pay after less than 40 hours per week. They still get health benefits that are far better than those received by many American families upon whose tax money GM jobs now depend.”
Union members also preserved their right to have six unexcused absences from work before they can even be considered to be fired.
Can you feel the pain?
The Unions Have Been Rewarded With
Ongoing Subsidization by the Taxpayers
It is a sign of the degree to which raw politics has dominated its handling of Chrysler and General Motors that the Obama Administration has a 31-year-old who has not yet graduated from law school determining the fate of two multi-billion dollar companies.
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For their political support of the Democratic Party, the auto unions have been rewarded, not just with ownership stakes in two giant companies, but with ongoing protection and subsidization by the U.S. taxpayers.
The President has said repeatedly that he wants to get out of the auto business as soon as possible. But does anyone seriously believe that he would accept an arrangement in which GM becomes profitable at the expense of the union and its gold-plated benefits?
Having spent $50 billion to “save” GM and the UAW, does anyone really believe that the Obama Administration will now allow economics and not politics to dictate its future decisions?
In the GM and Chrysler bankruptcies, the Obama Administration has trampled on the rule of law.
It is using the taxpayers’ money to pay back a political group for its political contributions.
There was a time when we would have called that a scandal.
Your friend, Newt Gingrich |
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