Archive for the 'America's Financial Crisis' Category

My Shocking Bank Experience and the Need to Read Terms and Conditions

This post first appeared on Dr. Forsyth’s blog, Financial Wisdom Preparatory Institute.

Joetta Forsyth, PhD

Joetta Forsyth, PhD

I recently had a bad encounter with a bank. However, there is a basic principle that I follow that kept me from financial harm.

I applied for a business credit card, which I wanted to facilitate payments and I intended to pay off each month. It was a little late in the day and the person who handled business accounts had left. Another person at the next desk over offered to “help” me.

I explained that I wanted to take out a business credit card and gave him my business checking account ATM card, which he used to look up my account. He told me about a “great deal” on a card — I wouldn’t have to pay fees to get the frequent flyer miles, etc.

I told him that I was confused because I had called the bank and they did not tell me those terms. His reply, delivered with a beaming smile, was that it was a special offer only given in person. I asked to see the terms and conditions, and he told me that they would be mailed to me after I applied for the card. I had to ask twice more. I flat out refused to apply for the card without seeing the terms and conditions first. He finally gave up and went to print them out. I told him I would read them and come back the next day. At home, I discovered that the right side of the print out was cut off and I couldn’t even tell what it said. Continue reading ‘My Shocking Bank Experience and the Need to Read Terms and Conditions’

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The State of the New Economy

Can’t see the above video? Click this link to watch.

In this video interview, David M. Smith, PhD, Associate Dean of Academic Affairs and Associate Professor of Economics at the Graziadio School of Business and Management discusses the impact of the American Reinvestment and Recovery Act so far, the fate of female and older workers in this down economy, and which sectors of the California economy are likely to bounce back. Continue reading ‘The State of the New Economy’

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The Art of Strategy During a Recession


Can’t see the video above? Click here to watch or you can read the transcript.

In this video interview, Kurt K. Motamedi, PhD, Professor of Strategy and Leadership at the Graziadio School of Business and Management, discusses strategy, strategy execution, leadership styles (including neurotic managers and their impact), keeping employees motivated, and the shift away from economic opportunism occurring in the U.S. and worldwide. Continue reading ‘The Art of Strategy During a Recession’

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VC Firms Still Expecting High ROIs

Can’t see the above video? Click here to watch or read the transcript.

In this video interview, John K. Paglia, PhD, Associate Professor of Finance at the Graziadio School of Business and Management, discusses the Pepperdine Private Capital Markets Project, which was released on July 27, 2009, in conjunction with a Los Angeles and California statewide economic forecast that Pepperdine partnered to deliver with Beacon Economics and the Los Angeles Area Chamber of Commerce. The study has been featured in the New York Times and the Wall Street Journal. Continue reading ‘VC Firms Still Expecting High ROIs’

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Learning on the Job

This op-ed first appeared in the Los Angeles Business Journal and is reprinted with their permission.

Dave Smith, PhD

Dave Smith, PhD

In recent weeks there hasn’t been much data supporting sustained economic stability, much less a recovery. However, it does appear the economy is no longer in a freefall, and we are likely experiencing the depths of this downturn.

Since the start of the recession in December 2007, 6.3 million people have lost their jobs in the United States. Hundreds of thousands more per month are likely to join the ranks of the unemployed for the next several months, and the national jobless rate is expected to reach as high as 10 percent. In California, unemployment hit 11.5 percent in May and will surely peak at more than 12 percent in the coming months. L.A. city’s unemployment rate was even worse at 12.5 percent.

There is little cheer for the currently unemployed, underemployed or those seeking better career prospects. However, looking ahead, there are some breaks forming in the gray cloud hanging over the economy, brightening the outlook for job seekers.

In reviewing a number of sources of information, I believe it is likely that several areas of the economy will lead the way for jobs and economic growth. It also is my opinion that near-term jobs created as an outgrowth of the 2009 American Recovery and Reinvestment Act will not be among them. Here’s how I see it: Continue reading ‘Learning on the Job’

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What’s Next LA: The Road to Economic Recovery (A Preview)

Can’t see the above video? Click this link to watch or you can read the transcript.

Continue reading ‘What’s Next LA: The Road to Economic Recovery (A Preview)’

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Why Entrepreneurship Thrives During a Recession

Can’t see the above video? Click this link to watch or you can read the transcript.

In this video interview, Larry Cox, PhD, Associate Professor of Entrepreneurship and director of the new entrepreneurship program at the Graziadio School of Business and Management, discusses how smart entrepreneurs take advantage of low opportunity and material costs during a recession and why creativity and idea generation are the most important factors to entrepreneurial success.

Continue reading ‘Why Entrepreneurship Thrives During a Recession’

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3 Tips on Surviving and Thriving in the New U.S. Economy

The results of GBR poll #3 on the road to U.S. economic recovery are in!

recoverypollresults

  • Half of participants think we’ll be back on track by 2010
  • 20% think we’re already on the road to recovery
  • 30% think all the initiatives to stabilize and grow the economy so far are only making things worse

The GBR Blog asked Peggy Crawford, PhD, Professor of Finance, and Terry W. Young, PhD, Professor of Economics at the Graziadio School of Business and Management, to comment on the results and offer some practical advice on how to take advantage of the current economy. They wrote: Continue reading ‘3 Tips on Surviving and Thriving in the New U.S. Economy’

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Of Alphas, Betas, and Predetermined Rates of Returns

Davide Accomazzo
Davide Accomazzo, MBA

In the ongoing social debate on what kind of an economic system we should build on top of the rubble of the present financial mess, we as investors should focus less on the philosophical nuances and more on how to adjust our investment framework, expectations, and tactics.

As the work of free-market proponents Milton Friedman and Margaret Thatcher falls to pieces under the weight of human greed and hubris, it is important to acknowledge that greed and hubris were also the culprits in past socio-economic collapses: communism, failed monarchies, etc. It seems safe to say that whatever policy will be implemented next will carry within its DNA the same self-destructing gene.

History may not repeat itself but it certainly rhymes, as Mark Twain once said.

Continue reading ‘Of Alphas, Betas, and Predetermined Rates of Returns’

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The Basics of a Balanced Personal Financial Strategy

The results of the second GBR poll on debt vs. savings are in!

poll2

  • All participants said they have changed their personal financial approach due to the current economic instability
  • 60% say they are working harder to pay down all their debt.

The GBR Blog asked Davide Accomazzo, Adjunct Professor of Finance at the Graziadio School of Business and Management, to comment on the results and offer some practical advice on riding out the economic turbulence. He wrote: Continue reading ‘The Basics of a Balanced Personal Financial Strategy’

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