What is your Market Position?

Well,

As of around September 29th. to date, there are two positions that people are in.

  1. Out of the Market Chillin
  2. FETAL POSITION

It is looking pretty grim out there. People in the finance banking and real-estate community are acting as if they did not see it coming. A good businessman CFO, CEO, reviews it’s balance sheets and knows what is coming.

AIG really pissed me off. The arrogance of these people. It is clear that nobody is having critical strategy meetings, or “Ritz-Gate” would never had happened. Maybe it was already in the budget and they had a P.O…… kidding.

Next is the pompus arrogance of these CEO’s and Executives that do a bad job and get paid for it. My friend Wayne Slavitt, said it well and quote from his blog. waxingandwayneing.wordpress.com

Quote – “This is really simple to me. If I hire a professional painter to paint my house and the work is shoddy, I get my money back; I didn’t get what I bargained for with this individual. You don’t do your work, you don’t get paid. These executives did shoddy work and now need to pay us back: Matter closed.The second reason I am so irritated at this situation is the lack of remorse of these executives. Have you heard any of them simply say, “I’m sorry”? Have any of these pompous managers issued any apology for what they have done—for the mess they created? If they have, I haven’t heard them.” end quote

No Main Street or “Joe Six pack” business owner would give a guy a bonus for doing a poor job. Where does this mind set come from? Sometimes the Europeans do it right, for example, Mercedes Executive income is DIRECTLY tied to their sales success, with a $12 million cap. You won’t find any Wallstreet exectives falling over that job position.

As for Credit, families companies do not know how to operate any other way. My suggestion for families is to spend $200 bucks at DaveRamsey.com and get a reality check.

Trivia – As of 1:36 PST – Wallstreet News –
“We’re all watching the windows on Wall Street, Any second now people should start jumping”

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