Many individuals realize that their level of retirement or even the onset of retirement might be delayed due to the recent economic fallout. There may be one special silver lining that comes out of this mess. Consider the following research excerpted from: From: http://ageing.oxfordjournals.org/cgi/content/abstract/38/5/531
The authors (Andiara Schwingel1, Mathew M. Niti, Catherine Tang and Tze Pin Ng) based their study on an initial evaluation and a 2-year followup evaluation with individuals that lived in Singapore and were over the age of 55.
Trained research nurses interviewed participants (non-volunteering retiree, volunteering retiree, and working seniors) on mental health status (geriatric depression scale, Mini Mental State Examination, positive mental wellbeing and life satisfaction).
Results: about 88% of seniors were retired (78% non-volunteering, 10% volunteering) and 12% were still working in paid employment or business. At baseline and 2 year follow up, and regardless of physical health status, volunteering retirees and working seniors gave significantly better MMSE cognitive performance scores, fewer depressive symptoms, and better mental well-being and life satisfaction than non-volunteering retirees.
The dream of just lying around after retirement may not be in your best interest. Use this opportunity to reflect on ways that you can continue employment (part-time) or volunteer. In either case, continued involvement may be the best thing to bring the "gold" to your golden years.
Copyright 2009 - Jim Lindell
From news.yahoo.com 9/24/09
by David Lawder
WASHINGTON (Reuters) – U.S. taxpayers will probably never recover all of the hundreds of billions of dollars invested to bail out financial firms, automakers and homeowners, a key watchdog for the program said on Thursday.
Neil Barofsky, the special inspector general for the U.S. Treasury's $700 billion Troubled Asset Relief Program (TARP), said in prepared U.S. Senate testimony that the bailout fund played a significant role in stabilizing the financial system, but it may never fulfill certain policy goals.
"The progress on meeting the goal of 'maximizing overall returns to the taxpayer' is unclear," Barofsky said in testimony to be delivered to the Senate Banking Committee.
"While several TARP recipients have repaid funds for what has widely been reported as a 17 percent profit, it is extremely unlikely that the taxpayer will see a full return on its TARP investment."
Surprise, Surprise. From my worldview as a CPA, if we (taxpayers) are not going to see a full return on our “investment”, then we have a loss not a profit. Any claims that the TARP funds are returning profits are false. We also have a concept in accounting which calls for the accrual of known items. For instance, if we truly anticipate that customers will not pay us back the amount owed, we should establish a reserve for a bad debt. For the TARP funds, any claim of profitability should be offset by anticipated losses to give a true picture. Based on Barofsky’s claim, we should be recognizing the anticipated losses. We should also call “BS” when someone claims profitability on TARP funds without including the entire picture. To present misleading information is a disservice to our country. Oh wait, I forgot, the politicians aren’t there to represent us. They have their own agenda…..
© 2009 – Jim Lindell
Occasionally, you will hear people exclaim, “I am not very creative”, or “I wish I could be more creative”. Everyone was born with a strong capacity to be creative. What has happened to many individuals is that their creativity has been squashed or driven under. This began from the earliest age as the first thing that many of us learned was “NO!” School is the next step in stripping away our creativity as we learned to color in the lines and associate a specific color for items (such as a “red” rose). If you have never heard Harry Chapin’s song “Flowers”, it is very powerful and it shows how we can hurt the creativity in young people. The lyrics can be found at: http://www.harrychapin.com/music/flowers.shtml
The good news is we can reclaim our creativity. For those who have difficulty being creative, I have used the following technique with very good success. When a person says that they are not very creative, I simply agree with them. I then ask who they know that is extremely creative. The person will typically respond with the name of an associate or friend. I then ask them, what do you think that creative person would come up with as a new idea. Guess what happens? Most of the time the uncreative person comes up with a new idea that they believe their creative friend would suggest.
This technique also works for people that are afraid of public speaking. I ask them to think of someone who is a great speaker that they know. I then ask them to pretend that they are that other individual and have them speak as the other person would. Guess what? In more cases than not, the frightened person takes on a different persona and delivers a public presentation.
© 2009 – Jim Lindell
If you want to increase your creativity, try out the process known as mind-mapping. A mind map is a diagram used to represent words, ideas, tasks, or other items linked to and arranged around a central key word or idea. It allows the user to attack a topic without resorting to linear thinking techniques.
In its' simplest form, mind-mapping begins with a blank sheet of paper. In the center of the page is written the main idea or concept. Additional thoughts related to the topic are listed around the page at random. This allows the user to "free think". When the user feels that there are no more thoughts, he links (by drawing a line) any thoughts which appear to be of a similar or related nature. It is helpful to use colored pens or markers to make the connectivity stand out. When all items have been linked, the mind map yields topics or themes that must be addressed to adequately outline or define the original main topic.
Consider the following mind map for establishing a new commercial web site:
Some themes that pop out of the mind map are:
1. Blue - Investigate affiliate marketing and linking to other sites
2. Purple - Legal structure and tax implications need to be addressed
3. Light Blue - Who is going to develop the site?
4. Red - What are we going to sell on the site?
5. Light Orange - Can the site include multimedia?
6. Orange - can the site be accessed globally?
7. Green - Should we pass on development and consider already established tools (i.e. E-Bay)
Very quickly, I have identified main areas that need to be addressed if I want to establish a commercial web site. Certainly, there would be more items to consider. We could also use secondary mind-maps to further process any of the main themes above.
If you are interested in tools to help automate the process, I recommend visiting
http://freemind.sourceforge.net/wiki/index.php/Main_Page
This page will also make available an open source software package (FreeMind) that will automate the mind mapping process.
Copyright 2009 - Jim Lindell
You are contemplating hiring an executive coach for yourself or for your staff members. What should you consider before hiring a coach?
The first consideration is what is your goal?
1) Is it the development of the "whole" person?
2) Is it to develop a specific skill set?
3) Is it to correct specific problems?
Each of these three will have different approaches. The longest, most fulfilling and far reaching is the development of the whole person. This can also result in an on-going coaching relationship. Coaching to develop a specific skill or to work on a problem is typically a time limited approach.
The second consideration is the appropriate match between the coach and the coaching candidate. This will involve analysis of:
1) existing corporate culture,
2) personality complement between coach and candidate,
3) skills of the coach,
4) experience of the coach (by the way, executives in transition sometimes believe that coaching is easy and as a result will experiment on coaching candidates. This is negligence in practice.)
5) and cost of the coaching service (any coach that insists on extended timeframes is thinking of their cashflow and not the coaching candidate).
The selection of a coach is an important decision. Interview, check references, and match the appropriate coach for the appropriate candidate and circumstance.
Copyright 2009 - Jim Lindell
Chrysler Executive also feels the squeeze of the recession.
Chrysler exec faces tax, loan troubles - Lien placed on Deputy CEO Jim Press' home for nearly $1 million in unpaid taxes -- and he's also sued for unpaid loans. http://money.cnn.com/2009/09/18/autos/press_lien/index.htm?section=money_latest
by Peter Valdes-Dapena, CNNMoney.com senior writer
"Due to the turmoil in the automobile industry and uncertainty surrounding our ownership, my request for a bonus payment was denied," Press wrote in a Nov. 11, 2008, letter on Chrysler letterhead. "I am attempting to arrange for a loan against my future bonus with my employer which would allow me to pay this loan off."
Those of you who remember Popeye should also remember another famous character associated with Popeye. That character is Wimpy. Wimpy is known for always saying:
"I'll gladly pay you Tuesday for a hamburger today."
Unfortunately, this sounds a little similar to Jim Press' desire to pay his debts with future bonus payments. This should be a wake-up call to all of us to manage our debts appropriately. From the smallest debtor to the largest (i.e. our Government) debtor. There comes a time to pay the bills and obligations. Hopefully, we (or our Government) are not put in a similar position to Mr. Press.
Copyright 2009 - Jim Lindell
An Economist who always was wrong -
Clung to the same old song -
Spend more than we make -
It's not a mistake -
In debt is where we belong!
Copyright 2009 - Jim Lindell
The Data for the following chart was found at the Port of Long Beach Website: http://www.polb.com/economics/port_stats/latest_monthly_teus.asp
Some knowledgeable people are coming out and saying that the "recession is over". That would be wonderful. It also just might be wishful thinking. Consider the following chart which summarizes the monthly activity of TEUs (20 foot equivalent units or 20 foot long containers). These are the containers which are used to ship foreign made goods to our country. Many of these products that arrive are the goods that stock the shelves in our large retail stores.
Note that the pattern for each year follows a similar trend. High points at the end of summer and drop offs til the end of the year. It is easy to see the lower volume in 2009 that is a result of the recession. My concern is that if we have reached the top, we should now see a similar decline in the last months of the year. Strong Christmas sales? I doubt it. The recession is over? I doubt that too. Beware the winter season.
Copyright 2009 - Jim Lindell
On my way home, I drove past a cemetery. I was shocked to see a sign that offered "natural burial". My first thought was, "What is an unnatural burial?" I checked online and found the following:
The goal of a natural burial is to return the body to the earth in a manner that does not inhibit decomposition and allows the body to recycle ...
en.wikipedia.org/wiki/Natural_burial
When you get beyond the humorous question that I asked above, you find that the cemetery's are adjusting their business model to address a growing desire of future customers.
Consider your business model. If your customer's have not helped you frame the next phase of your business model, maybe you should consider asking them. Companies have used: customer surveys, focus groups, gap analysis (vs. competitors) to try and determine the next direction of their business.
Today's business models are being forced to change to survive the recession. The companies that are first to see the new trends in their industry will enhance their chance of success as we finally pull out of the recession.
Copyright 2009 Jim Lindell
Thoughts on the "Carter: Racism plays major role in opposition to Obama" http://www.cnn.com/2009/POLITICS/09/15/carter.obama/index.html?section=cnn_latest
Folks, does racism exist? Absolutely! Can it raise its' ugly head - you betcha. Remember, we elected an African - American as President of our great country. If Race was an issue, he would not have been elected. To jump track at this point and now say that the President has difficulty because of race issues is foolish. It ignores the issue of performance. The American People want results - not petty bickering.
The racism charge is also linked to Wilson and his "Lie" comment. Wilson's comment was inappropriate and rude. However, do not forget the issue of freedom of speech that takes priority. In addition, the Democrats that want further apologies from Wilson should be quiet. Congress would serve the American People better by apologizing for the screwed up economy and admit the major role that they had in creating it.
Copyright 2009 Jim Lindell
We don't always hear how the recession has effected the NPOs. Many organizations have been hurt during the recession. NPOs have been forced to downsize, reduce costs and still meet their respective missions. It is this concern for the mission that confuses many board members and management teams. Once the devastation of the recession happened, it was too late for corrective actions. The best path was to enact survival steps.
NPOs must focus on using the resources that they have to meet the needs as best as they can. Many will struggle to maintain prior service levels when resources have been reduced. There is no shame in delivering services to the best of their ability. There is shame in: not being prepared for the recession; failing to have exercised due diligence for preemptive contingency planning; not making the difficult decisions to ensure that the NPO survives the next couple of years.
Therefore, analyze the mission. Is it still appropriate? If so, take the resources that exist and prudently steer a course that balances stewardship and need. Hopefully all organizations will be able to look back at this time and become stronger, better managed entities.
Copyright 2009 Jim Lindell
Many people have experienced the phenomenon of NLP (Neuro-Linguistic Programming) but didn't know how to label the experience. For example have you ever smelled a specific scent and then were transferred to a different time and place in your life? Certain food scents can immediately transport me back to my grandmother's kitchen and it feels as if I am there again. Within NLP this is known as an anchor. Another familiar anchor is used for remembering a specific item. That anchor is a string tied around your finger.
Consider the following example whereby NLP is used as a tool to help reverse the aging process:
From the article - 17 Examples of Classic And Everyday NLP Anchors
(source http://stanford.wellsphere.com/patient-empowerment-article/17-examples-of-classic-and-everyday-nlp-anchors/15555)
Reversing Aging - example 12 of 17
Ellen Langer performed a study into anchoring on two groups of 75-80 year old men at Harvard University. She first separated them into two groups and isolated them for 5 days.
One group was engaged in a series of tasks encouraging them to think about the past in general (to write an autobiography, to discuss the past etc). The other group was made to do a series of tasks relating to a specified time in the past - year 1959. They were made to write an autobiography up to 1959, describing that time as “now”, watched 1959 movies, had 1959 music playing on the “radios”, and lived with only 1959 artefacts.
Both groups were evaluated on a number of criteria associated with aging. While the first group stayed constant or actually deteriorated on these criteria, the second group showed fascinating results. They dramatically improved on physical health scores such as joint flexibility, vision, and muscle breadth, as well as IQ tests. They were successfully anchored back to being 50 years old, by the sights and sounds of 1959.
If you desire to be younger, revisit a period in your life where you felt younger and were more healthy. Recapture the memories. Immerse yourself in the music that you enjoyed. Watch some of the films (that you enjoyed). If you had specific physical activities that you can still perform, try them again.
There is a big difference between living in the past and re-experiencing the past. The first may lead only to a recall of past experiences. The latter may lead to a younger lifestyle and the effective reversal of a couple of decades.
Copyright 2009 Jim Lindell
And now for something completely different - not business, not the economy, but the lighter side of life.
Bias stated up front: Here is my perspective on Brett Favre, the Minnesota Vikings and the Green Bay Packers. First, I am a Football fan. Second, I am a Green Bay Packers Fan. Third, this has nothing to do with Aaron Rodgers (he is doing great and I look for him to take the Packers a long way).
It was sad to see the end of Michael Jordan's playing career. Many folks said he should stay retired. I was simply delighted to see him back on the court when he came back from retirement. In my mind the quote from Mrs. Robinson - “Where have you gone Joe DiMaggio?” Could be applied to Michael Jordan. This leads me to Brett Favre because he also represents something magical to football, the way Michael Jordan was magical to basketball.
When Brett retired from the Packers it was (at the time) the end of an era. It was fun to see him with the Jets. When he retired from the Jets (at the time) it was sad because now it was the end of an era. Just the chance that he would play again (for whomever) was interesting. Favre represents what many want to see in a game: leadership, confidence, strength, tenacity, risk taking, getting up when knocked down, throwing a block (that most QB's would shy away from), etc.
Now as for his transitions, in/out of retirement, etc. I have been in enough business meetings to recognize that the information that was given to the fans was sanitized, politicized, and bullshitized to the point that left everyone confused. You weren't in the room, nor was I. Brett nor the various team management have not personally called me and asked for my counsel or thoughts. Therefore, let it go. Everyone did at the time what they believed (right or wrong) was in the best interest for them or for their team – God Bless them all. The good news is that I can watch Brett, the Gunslinger, in action again.
As to my favorite team the Packers and their arch rivals the Vikings: this is the first time that I will ever be excited about whichever team wins the game. I can't wait – Go Packers! Go Favre! Either way it is Win-Win for me!
© 2009 Jim Lindell
I have had the privilege to work in a large not for profit; serve as an elder in the church and consult with many not for profit organizations. It fascinates me that people in not for profits fixate on the lack of resources as opposed to the resources that they currently have.
Regardless of your spiritual background, there is a wonderful bible lesson that comes from Mark.
From: http:// www.biblegateway.com/passage/?search=Mark+6%3A30-44&version=NIV
Jesus Feeds the Five Thousand
30 The apostles gathered around Jesus and reported to him all they had done and taught.
31 Then, because so many people were coming and going that they did not even have a chance to eat, he said to them, "Come with me by yourselves to a quiet place and get some rest."
32 So they went away by themselves in a boat to a solitary place.
33 But many who saw them leaving recognized them and ran on foot from all the towns and got there ahead of them.
34 When Jesus landed and saw a large crowd, he had compassion on them, because they were like sheep without a shepherd. So he began teaching them many things.
35 By this time it was late in the day, so his disciples came to him. "This is a remote place," they said, "and it's already very late.
36 Send the people away so they can go to the surrounding countryside and villages and buy themselves something to eat."
37 But he answered, "You give them something to eat." (bold and underline added for emphasis)
They said to him, "That would take eight months of a man's wages[a]! Are we to go and spend that much on bread and give it to them to eat?"
38 "How many loaves do you have?" he asked. "Go and see." (bold and underline added for emphasis)
When they found out, they said, "Five—and two fish."
39 Then Jesus directed them to have all the people sit down in groups on the green grass.
40 So they sat down in groups of hundreds and fifties.
41 Taking the five loaves and the two fish and looking up to heaven, he gave thanks and broke the loaves. Then he gave them to his disciples to set before the people. He also divided the two fish among them all.
42 They all ate and were satisfied,
43 and the disciples picked up twelve basketfuls of broken pieces of bread and fish.
44 The number of the men who had eaten was five thousand.
I added the bold and underline above to emphasize the key point. Jesus was not concerned with the size of the crowd but with: 1) the mission or goal (feed the people) and 2) what resources are available ( Five loaves and two fish).
Many not for profits would do well to focus on the resources they have (supporters, money, employees, significant purpose, etc.) and make them fit the need. If the organizations allow them to be overwhelmed by the need (the five thousand people) they will be ineffective. Therefore celebrate that which you have. There will always be more need than supply – do good where you can and you will be surprised by what is accomplished.
© 2009 Jim Lindell
From Hartford Courant on September 1, 2009 (http://blogs.courant.com/capitol_watch/2009/09/connecticut-budget-solitaire-photo.html)
House Minority Leader Lawrence F. Cafero Jr., R-Norwalk, far right, speaks while colleagues play solitaire on their computers as the House convenes to vote on a new budget for the fiscal year in the Capitol on Monday [AP Photo/Jessica Hill]
Rep. Barbara Lambert (Democrat) and Rep. Jack Hennessy (Democrat) are playing solitaire during the debate over the state's $37 Billion (with a "B") Budget. This has been railed upon already. Simply, it is wrong. The private sector is going to great lengths to eliminate gaming, facebook and surfing during work hours. Representatives should think of the example that they set. (By the way speaking of examples, during our greatest depression since D#1, how many of our congressional leaders have cut their salaries and staff? Oh I forget, they are exempt from what happens to the rest of the country.)
One other point that is not mentioned, then I will move on to the real topic of this entry - What about the individual sitting directly behind them? It looks to me like the baseball game is on. I just happen to wonder if that person is a republican and the reporters forgot to point him out. Is my cynicism showing through? Naaah.
Here is my concern. Our society has been richly blessed with many types of technology. I am concerned that we are losing our focus. People are texting when they are driving cars and trains. Uh oh, I just had this vision that the pilot may be texting someone as he flies the plane - spooky. We must remember that we are not multi-taskers that maintain the same level of concentration when it is divided by task.
The more we divide our attention the lesser will be the quality of our focus and the quality of the end product. The State Budget will not be as good, there will be continued transportation accidents and the quality of overall communication will decrease. Also, isn't it true that many of our problems stem from poor communication? We haven't improved the quality only the quantity.
Copyright 2009 by Jim Lindell
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