Posts Tagged ‘Wall st’

Wall Street rescue plan

Saturday, September 27th, 2008

Democrats & Republicans are frantically arguing about the package proposed by the US president to spend $750 billion shoring up the financial markets to prevent the US economy going into a tail spin. I have no doubt they all believe that this is a serious situation, and that they, and the people they represent, are in grave risk of getting seriously hurt by this situation. However, I have heard politicians earnestly arguing that it is un-American to interfere with results of a free market, and others saying that if there is money going here then they need other funds to help schemes they deem worthy. All these principles and good intentions and meanwhile Wall St burns…

Principles are all very well and when you are about to spend a sum equal to the GNP of Canada then you need to give it a little thought, however, there is a time to think and a time to act. Imagine arguing with your wife about which things you should drag out of your burning house first, the budgie or the holiday snaps…

Leaders act, they need an instinctive grasp of how to look after the people who look to them. Few of us will ever have to face this kind of decision, but fiddling whilst Rome burnt didn’t help Nero and is unlikely to work any better today.

“What to do if you find yourself stuck in a crack in the ground underneath a giant boulder you can’t move, with no hope of rescue. Consider how lucky you are that life has been good to you so far. Alternatively, if life hasn’t been good to you so far, which given your current circumstances seems more likely, consider how lucky you are that it won’t be troubling you much longer.” Douglas Adams

Contrary-wise… advice on how to make hay when it is raining!!

Wednesday, September 24th, 2008

warren_buffett_fortune_mag_cover_3 Warren Buffet, the richest man in the world, has just invested $5 billion in Goldman Sachs.  His advice is “Be greedy when others are fearful, and be fearful when they are greedy!”; this is interesting advice.  He is not afraid of going against the trend and following his own sense of direction.  I think this is bold advice for today’s leaders.  How are you going to differentiate yourself from the herd  if you are just following along.  Look at the fundamentals, ask searching questions and follow your own insights.

There is real opportunity in the market place now for the bold and the brave; don’t be paralysed by all the negative news, use the imagination, brains and wisdom of your team to take positive action and control of your destiny!

Resources:

  1. LA Times

Wall Street Crash

Monday, September 22nd, 2008

wall-street-3 The recent mayhem on Wall St with the nationalisation of Fannie Mae and Freddy Mac, the crash of Lehman Bros and AIG, are all examples of business change in its most radical, most mordant form.  If you loose sight of the basics about how you add value to your customers and create real wealth rather than paper profits, then sooner or later, people are going to wise up and call your ‘markers’. 

A wise business reviews what it is doing and why it is doing it on a regular basis.  It is important to make the time to question what is being done and challenge established ideas.  It is often helpful to involve outsiders in these sessions to bring in some fresh thinking.

Change is really unavoidable, if you aren’t driving it then the chances are, sooner or later, you’ll end up with its tyre tracks down your back….

“The dogmas of the quiet past are inadequate to the stormy present. The occasion is piled high with difficulty, and we must rise with the occasion. As our case is new, so we must think anew and act anew.” Abraham Lincoln