Archive for May, 2010

Shocking Fact:#1 export from China to U.S. is $46 Billion of computer equipment, #1 export from U.S. to China? $7.6 billion of waste paper & scrap metal. This week on Your Financial Editor

Thursday, May 27th, 2010

Chris Murray, YFE

This week on YFE, Chris will talk with bestselling author, Clyde Prestowitz, whose book, The Betrayal of American Prosperity reveals theastonishing extent of the erosion of the fundamental pillars of American economic might.  They’ll be talking about the great challenge America faces in the future competing with China and other fast rising economies.  Our country can return to the extraordinary approach to growth that made us the economic superpower we are.  Saturday morning at 8am on AM 930 WFMD or log onto www.wfmd.com and click the listen live button.

About this week’s guest:

Clyde Prestowitz is the founder and President of the Economic Strategy Institute (ESI) where he has become one of the world’s leading authorities on globalization and competitiveness and an influential advisor to the U.S. and other governments.  He has also advised a number of global corporations such as Intel, FormFactor, and Fedex and serves on the Advisory Board of Indonesia’s Center for International and Strategic Studies.  Mr. Prestowitz regularly writes for leading publications, including the New York Times, the Washington Post, Fortune, and Foreign Affairs.  He is the author of the bestselling books, Trading Places, Asia after the Miracle, Rogue Nation, and Three Billion New Capitalists: the Great Shift of Wealth and Power to the East.  He has a B.A. with honors from Swarthmore College; an M.A. in East-West Policies and Economics from the East-West Center of the University 0f Hawaii; and an M.B.A. form the Wharton Graduate School of Business.  He also studies at the Keio University in Tokyo.

Cynicism, corruption, hope and faith…It’s all in our nation’s capital.

Wednesday, May 26th, 2010

I’m a pretty cynical person when it comes to the world of politics.  However, my recent lunch at the National Press Club showed me that some very positive influences can come from inside the walls of Washington.  At a members’ luncheon at the Press Club, Ms. Barbara Bush, Founder and Executive Director of Global Health Corps, shared how her experiences traveling to the continent of Africa with her parents, President George W. Bush and First Lady Laura Bush impacted her life.  Ms. Bush knew at the age of 20, while still attending Yale University, that she wanted to improve the lives of those less fortunate around the world.  At the ripe old age of 28, Ms. Bush has excelled as the leader of Global Health Corps, in leadership, fundraising and recruitment.  This allowed her to utilize young talents, from all walks of life, to bring hope and faith to some who may otherwise have known it.

By the way, Mrs. Jenna Bush Hager was also with us, and even though she does not work with her sister, she is just as compassionate and caring.  Mrs. Hager focuses her energy on the improvement of education for American students.

So, I am happy to say that I was wrong.  I see that not all bad comes from the corruption of power inside the beltway.  The wonderful influence that George and Laura Bush had on their daughters, and the experiences that they provided, are, and will continue, to have a wonderful effect on the world.

It’s time to get rid of a cruel, wasteful, insidious management practice…the annual performance review. This week on Your Financial Editor!

Wednesday, May 19th, 2010

Performance reviews for employees.  Are they valid methods to measure productivity, or are they cruel, wasteful practices that bully

Chris Murray, host of YFE

 employees?  This week on Your Financial Editor, Chris will be talking with Professor Samuel Culbert from UCLA about how managers can start to effectively manage their employees and employees can get evaluations they really believe in.  Saturday morning at 8am (EST) on AM 930 WFMD.  Listen from anywhere by logging onto www.wfmd.com and clicking the listen live button.

About this week’s guest:

Dr. Samuel A. Culbert has achieved wide-scale recongnition as an expert and theoretician in the management field.  He holds a McKinsey award for an article published in the Harvard Business Review and has contributed chapters in many leading management-related books.  He has been a professor at UCLA’s Anderson Graduate School of Management for more than 25 years, and his consulting practice specializes in executive communication and teamwork; trust building and organizational effectiveness; and leadership development and corporate strategizing.  He is the author of Get Rid of the Performance Review! ,which he and Chris will discuss on this week’s show.

A single ATM withdrawal involves 10 separate organizations working together – should you trust their integrity? This week on Your Financial Editor!

Thursday, May 6th, 2010

What do drinking safe milk, driving a car, withdrawing cash and financial reform have in common?  Tune in Saturday, on Your Financial Editor, when Chris Murray examines how the common thread of integrity is the bedrock of our economy and of our society.  Join Chris and his guest, Anna Bernasek, author of The Economics of Integrity.  Saturday morning at 8am (Eastern) on AM 930 WFMD, or listen from anywhere by logging onto www.wfmd.com.

About This Week’s Author:

Anna Bernasek is a regular contributor to the Economic View column in the New York Times.  She has been a staff writer covering finance and the economy at Fortune Magazine, TIME Magazine, and Australia’s Sydney Morning Herald newspaper.  She has frequently appeared as a guest commentator on broadcast media including CNN, CNBC, public television and NPR.  Anna lives and works in New York City.

Wall Street Survives No Matter What is Thrown at It…

Wednesday, May 5th, 2010

Wall Street.  A name and place that everyone in the developed world recognizes…have you ever visited Wall Street?  It is a wonderful place, and I highly recommend a visit if you ever have the opportunity.  Wall Street was formalized in 1792 by traders and speculators who had, informally, gathered for years to conduct business in our wonderful country.  How important was Wall Street in its earlier days?  Well, 1789, George Washington took the oath of office on the balcony of Federal hall overlooking Wall Street on April 30th, 1789 during our first U.S. presidential inauguration.

Wall Street, and all of lower Manhattan, has grown and for 25 years has been the financial heart of the world.  It seems no matter what is thrown at it; market crashes, scandals, horrific terrorist attacks, political meddling, etc., Wall Street continues to not only survive, but thrive.  I feel that the U. S. financial markets are the most efficient “man-made” things on earth.  They can prove more people wrong in a single day than anything else I have ever seen.  Wall Street doesn’t care about your age, sex, nationality, or pedigree.  I have seen people totally broke by the market in one day no matter if they were a blue collar worker who decided to “play” with his family’s life savings or a multi-billionaire who thought the market was going to “zig” and instead it “zagged”.   Wall Street has taken, and of course created, fortunes in a shorter time than it takes to read this blog.  That my friend, is what makes the financial markets, and Wall Street in particular, so fascinating – I for one am very proud that we have her.

Is Wall Street all good?  Absolutely not.  But what is?  Is our country all good, our society, the church, business, your cooking all good?  Of course not.  but, just like with all of those things (less some peoples’ cooking), there is much, much more good than bad.  Let’s face it, unfortunately the media does a great job of emphasizing all of the negatives in the world.  I can say that our financial markets and most financial markets offer wonderful opportunities.  Should the occasional greedy Wall Street guy or girl be beaten in the town square?  Sure - but so should the dentist who tells you that you need a filling when you really don’t, so he can fill his pockets.  Or the HVAC guy who says you need a whole new furnace when you really just need a good duct cleaning.  Or the guy you bought your last car from, who used a power drill to reverse the miles on the odometer.  My point here is, do these things happen?  Yes they do.  But there many more honest, credible, and genuinely nice people in the world that we all come across and do business with.

There is a lot of political hay being made right now at the expense of those who work on Wall Street, and you, the investor.  I have said for some time now that the damage coming out of Washington D.C. to our economy and financial markets is fifty-fold of what is being done by those dishonest few on Wall Street.