Rosemead Herald

The following is from one of our leaders.  Can anyone guess who make this speech just recently. 

We are facing an array of challenges on a scale unseen in our time. We are waging two wars. We are battling a deep recession.

And our economy - and our nation itself - are endangered by festering problems we have kicked down the road for far too long: spiraling health care costs; inadequate schools; and a dependence on foreign oil.

Meeting these extraordinary challenges will require an extraordinary effort on the part of every American. And that is an effort we cannot defer any longer.

Organizations should give serious thought to furloughs and part time work schedules in order to deal with this economic downturn.  This would be the right thing to do.  Because, employees would rather have more time off than to be without a job. 

An organization could give each employee two days off per week and still keep their staff intact.  Even though this would be a hardship, it would be better than disrupting the entire workforce by having mass layoffs. 

The following is a good example of a progressive organization trying to maintain balance in turbulent times.

Telecommunications giant BT is offering staff the chance of long holidays in return for a big pay cut.

The former state-owned company is looking to reduce its wage bill while trying to avoid redundancies after being hit by the economic downturn.

One option available to staff is an up front sum of 25% of annual salary in return for taking the whole year off.

Employees have also been offered a one-off payment of £1,000 if they agree to go part-time.

Parents will have the opportunity to restrict their hours to school term times to allow them to spend time with their children.

The Banking industry is trying to shift blame for the foreclosure crisis.  This is amazing.  Banks need to be honest about the current foreclosure meltdown.

Any rational person in the real estate and mortgage industry knows that Adjustable Rate Mortgages (ARMS) and Stated Income were the major contributing factors in the current foreclosure crisis.

Now, the banking industry is trying to publish doctored reports to suggest that somehow negative equity is the culprit.  This snow job is outrageous. 

The following is another lousy attempt by a paid banking advocate to take the heat off the banking industry.  Shame on this writer and shame on the banking industry.

What about upward resets in mortgage interest rates? I found that interest rate resets did not measurably increase foreclosures until the reset was greater than four percentage points. Only 8% of foreclosures had an interest rate increase of that much. Thus the overall impact of upward interest rate resets is much smaller than the impact from equity.

Governments are getting too much money.  The problem is not with tax revenue.  The problem is with government spending.  Overall, governments do not know how to manage spending.  Governments know how to spend. 

Government leaders do not hire management professionals.  Governments hire public administrators.  Because, good management would require good fiscal management.  Governments are not capable of managing their resources properly (California). 

Furthermore, most large companies do not know how to manage their ethics and budgetary affairs (GM - Countrywide - Santa Anita horse race track - Wards - Arthur Anderson - Enron).  Organizations need to start looking around for some good management professionals.

With two Masters Degrees in the management discipline and decades of management experience, I am here if anyone needs me.

Amazon.com Inc. and other e-commerce companies are winning some skirmishes against cash-strapped states that want to force them to collect sales taxes, but their victories may be short-lived.

Several states are contemplating new laws or revisions to existing law that could eventually force online retailers to pony up.

Too little too late.  It seems that Washington still does not realize the the full extent of our crisis.  Washington should move quickly to make it mandatory that all mortgages be written down to the current appraised value.  The largest banks have money stuck in reserve accounts, so they will survive a write-down.  Shame on Washington for not moving on this issue.  

The administration said Wednesday that borrowers with mortgages worth up to 125% of their home's value will now be eligible to refinance under its program, up from a 105% limit.

Nearly 30% of homeowners with mortgages owe more than their homes are worth, according to Moody's Economy.com.

Shame on Washington for not supplying leadership during this troubled time.  Even teachers are being hit hard by this economic meltdown.  It is awful.  No job seems safe this year.  It is time for the federal government to move quickly to create a jobs program, so all vital services such as education, hospitals, fire, police, and other critical services are maintained. 

In addition, Washington needs to stop spending money on international peace keeping and nation building.  Plus, all foreign aid should be eliminated.  Money should be spent at home putting people to work.  Yes indeed, shame on Washington for not supplying leadership during this troubled time. 

In a sign of how severe the employment downturn is getting, even schoolteachers, an occupation once viewed as recession proof, are feeling the pain.

Education jobs grew steadily in recent years amid rising enrollment and government efforts to reduce class sizes. Now the increase in teaching positions has leveled off as school districts struggle with budget pressures. The demographic bulge caused by children of baby boomers -- the so-called echo boom -- has also begun to wane.

Los Angeles Unified School District laid off 2,500 teachers this spring. Broward County, Fla., Ms. Frommer's district, cut 400 school jobs. Rochester, N.Y., laid off 300 teachers.

Is Sunday School obsolete?  This is a hard time for Sunday School. Because, it seems that churches are giving up on a traditional concept.  My Sunday School at the Delano Nazarene Church was positive and I will always remember the kind Sunday School teacher.   

The decline in Sunday schools appears to be gradual but steady. A study by the Barna Group indicated that in 2004 churches were 6% less likely to provide Sunday school for children ages 2 to 5 as in 1997.

For middle-school kids, the decline was to 86% providing Sunday school in 2004 from 93% in 1997. Similarly, there was a six-percentage-point drop in Sunday schools offered for high school kids -- to 80% from 86%.

All in all, about 20,000 fewer churches were maintaining Sunday-school classes. And the future does not look bright: Only 15% of ministers regarded Sunday school as a leading concern. The younger the pastor, the study showed, the less emphasis he placed on Sunday school.

Dennys has been on the slide for years.  This year alone, Dennys stock has dropped like a rock.  And, customers are leaving in droves.  Because, Dennys stays open too long. 

Late night eating at Dennys is a money losing endeavor.  Dennys should close at 11 pm and open at 5 am.  This would save Dennys money. 

Regardless, about 80% of Dennys are Franchisees now.  And, the goal is to move to 90% Franchisees.   

Denny's Corp. is trying to restake its claim as a nocturnal hot spot for young adults.

The restaurant chain -- which conjures images of seniors and families digging into morning pancake platters -- has been trying to set a different scene for night owls.

Between the hours of 10 p.m. and 5 a.m. it pipes in rock and country music and it is scheduling after-concert parties for up-and-coming bands. It has added late-night menu items fashioned by well-known musicians including Rascal Flatts and Good Charlotte. On Tuesday, singer Jewel is slated to concoct a new Denny's menu item at a New York test kitchen.