Category Archives: A Brighter Future For America

Going Downhill

Last week I attended a conference and was given the opportunity to meet and talk to James Dondero, president of Highland Capital Management. It was interesting talking to someone that was higher up than me within the field. He seemed to have a completely professional attitude, but had a humorous side as well. I was able to not only talk about our everyday lives, but work as well. I have been struggling with my company for months now and he gave me some great tips for bringing my business to the land of success. Something that I never thought to be possible.

If it was not for the motivational conversation with James Dondero, I would probably still be depressed about the company and pondering away at how to fix things. The way he explained it to me was that you had to set everything personal about your life aside and place your company in the leading spot. Granite no one can do this every second, it is needed when any company starts to take a turn for the worst. Although my wife may not like the extra hours I am putting in at the moment, it will only help us in the long run.

We have both been nervous about how we will provide for our children and this is the only way out of our predicament. I am hoping that if I spend an extra 10-15 hours at the office every week that I will have the time to place more calls to potential clients, in hopes that they will purchase products from me. The reason why our sales have gone down is because our top customers moved out of the country and unfortunately one passed away just last month. When you lose your top buyers in any business, it tends to put a huge damper on finances and payroll.

Besides me working extra hours, I am also hiring another accountant to help me budget my company a little better than I have been. Although spending a few dollars on meaningless supplies does not seem like much, I am sure taking away those expenses will save me money in the long run. My goal for finances is to put an additional $500.00 away every month for emergency situations. Not having any money put away could put me in a situation that I may not be able to get out without filing for bankruptcy. Right now that is not something I need in my life. So for now I will stick to my new plan and make any needed changes that will help in my company’s success.

The Role of Economists in Predicting Future Economic Calamities

Economists are like doctors and their importance cannot be underplayed at least not in the current unpredictable globalized financial systems. The likes of Christian Broda have been very instrumental in helping corporate with their financial issues over years. In fact, Broda has been an economic consultant for both corporates and governments. The Argentina national has been in the limelight for his skills in economic matters. He hold a degree in economics from the Universidad de San Andres in Argentina. Owing to Broda’s skills and the continued help he has been offering to his clients, one cannot help but notice that the roles played by economist are as important to the global economy as the role played doctors in the health sector.

Imagine a world where there is no one to predict. Calculate or even understand the future our financial systems. How tragic would that be? Well tragedy is even an understatement if you think about it. Economists are very important in our society and the current globalized world making them even more important. The world’s countries are bracing up to cut a niche for themselves economically. Everything that is happening in the world today boarders on the economy. From infrastructure, to military power, all these aspects of our lives are geared towards achieving economic goals. How then can we purport to pursue economic stabilities without the involvement of the experts themselves?

Economists are well trained individuals who understand every symptom depicted in the economy and its implications just like a doctor understands the symptoms of a patient. Over the years, economists were ignored and their warnings and predictions taken for granted by investors whose only knowledge is how to make money. This situation changes soon after the global economic crisis that hit the world and threatened to stabilize the entire global economy. Incidentally, the world has not yet recovered from the effects of the meltdown so people can now understand how important economist are. Today economic recovery efforts are all the world’s government are talking about as the world languish in the current harsh economic realities.

Prior to the 2008/2009 economic meltdown, economist had raised an alarm especially in the US of a looming economic crash due to the rampant growth in the real estate market. Mortgage loans were flooded in the market and the increase in money at hand lead to too much spending hence the rise in the level of inflation. Economist warned against this but the authorities were too overwhelmed by the events until the economy crashed and the reality dawned. Today, there is a looming economic crash awaiting the shines economy especially with the rising developments in the country. The real estate market is on the rise in China and this may pose similar challenge to the country as economist are warning.

What Successful Economists Do To Be On Top

Shining among the rest is always an aspect that cuts across every economist’s mind. For an economist to be the best, they have to be the best in implementing financial processes. This does not only give the economist a wider market, but it also improves his or her reputation in the field of economics.

Well, a clever economist does the following to outdo other economists around him or her.

  • Does extensive research. An economist should be able to study how human beings make use of available natural resources such as raw materials around them to produce goods and services. He or she should also be able to study the cost and benefits brought about when these goods and services are distributed and consumed.
  • A good economist is a resource of advice to his or her clients. It is an economist’s job to advise business firms on how they should carry out their investments. He or she uses his mathematic models to come up with theories on what results to business success as well as business legislation inflation or effects.
  • A successful economist studies broadly and widely. Most of the economists who work for the government, for example, have the responsibility of assessing economic conditions of their country and that of foreign countries. This enables them to formulate relevant public and legislation policies.
  • Comes up with a unique working schedule. A clever economist forms a team of personnel’s who help him or her write reports or comes up with statistical charts. This eases the working schedule and ensures continuous flow of work assigned.
  • A focused economist equips herself or himself with all necessary skills and knowledge. They familiarize themselves with things that are trending such as new innovations in technology. Being computer literate is one thing that an economist is keen about. By having this literacy, he is able to carry out research in a more quick and efficient manner.
  • Mr. Christian Broda is one of the successful economists who are thriving in the field of economics. His success has been achieved through hard work and commitment and also in doing extensive research on finance and trade.

From the above, it’s evident that in order for one to be a successful and professional economist, one has to be hard working, committed and be open minded. With this, you’ll certainly emerge as a top economist in your region.

What Makes a Business Owner an Entrepreneur?

 

There are many similarities between a business owner and an entrepreneur. An entrepreneur is a business owner but a business owner may not be an entrepreneur. Both organize and manage at least one business and both assume risks associated with the business. Even a small business can have a measure of risk. So on the most basic of definitions, they are the same.

Business Owner vs. Entrepreneur

An entrepreneur is usually thought of as someone who deals with a large amount of risk for the business. A large amount of risk can bring a huge pay-off and many business owners keep the risk to their business minimal.

Entrepreneurs often are very intelligent and initiate major change. This includes pioneering new products, expanding to different markets and perhaps reinventing production methods. The key here is innovation and when innovation leads to more demand, financial success follows. In summary, entrepreneurs take huge risks, create a lot of wealth quickly and are leaders in innovation that gives them an advantage over their competition.

Marc Sparks: A Serial Entrepreneur

A serial entrepreneur is a person who starts one business after another or runs several businesses at the same time. Mr. Sparks has successfully created dozens of businesses and isn’t slowing down. He is an innovator that takes an idea and makes it happen. He has also written a book, They Can’t Eat You, based on his 35 years of success as an entrepreneur.

Marc has also been labeled an entrepreneur’s entrepreneur. This may be due to the establishment of his private equity firm, Timber Creek Capital. He has taken the knowledge he has learned over the years and started this company which mentors start-up businesses, helping them become successful. Timber Creek Capital starts with a business model and provides resources the company will need for marketing, office space, equipment, web design, staff, and more.

Philanthropy often goes hand in hand with entrepreneurship. Marc Sparks is no exception, being a supporter of American Can! Academy, a magnet high school in Dallas. He has also been involved with a homeless shelter, The Samaritan Inn, also in the Dallas area, and Habitat for Humanity.

Pauline is Still Hoping for Revival in AC

Amid the casinos, land development in Atlantic City has always had its troubles but one tract in particular is proving to be a statement of economy and resource. A recent article by Atlantic City Press paints a detailed picture of the situation. 

In the mid to late 1960’s, Pauline Hill, Atlantic City’s Housing Czar, displaced about forty – five hundred people’s homes and businesses seated on an eighty acre lot. This was done to make room for commercial development which, at the time, had several multi-million dollar proposals on the property. Since then, the South Inlet has had one real estate deal after another fall through. However, revival could be around the corner. The Casino Reinvestment Development Authority, CDRA, has until September 30th, 2015 to decide. 

 

Wasseem Boraie, VP of Boraie Development, proposed the reconstruction of lots 132 and 133 in 2012. A developer with its roots in cities throughout New Jersey, Boraie Development has erected many projects in conjunction with names like Shaquille O’Neal and continues to have a detailed vision of the future Atlantic City. 

After purchasing lots 132 and 133 for 1 million dollars in 2013, Boraie Development proposed a movie theater, ice rink and apartments. All but the 250 apartments, named the Beach, have been put on hold but could be under construction this year. John Palmieri, the executive director of the CDRA, has stated his support for the development of the lots and looked at the project as a gateway to other developments in the area.

Atlantic City has also put its support behind the project by amending architectural specifications in order to meet zoning approval. In exchange, the Beach will reserve fifty of its units for affordable housing with government controlled rates. This will also allow Boraie Development to avoid property taxes and instead make more predictable payments to the CDRA on the property. The CDRA has also agreed to invest about 30 million dollars in the project. However, due to economic problems, the city has closed three of its eleven casinos and over five thousand people have lost their jobs. The lack of revenue has almost brought the city government to bankruptcy at which it is now stagnant. Because of this, the CDRA is not reconsidering the proposed loan offer which will expire on September 30th, 2015. At least for now, it seems that Atlantic City’s South Inlet will stay the way it is.

Read the original story over at Press of Atlantic City

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