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POPSWhat to watch beyond the Dow If you haven't seen this Slate's new business site, The Big Money, explains the "TED spread," which measures the confidence that banks have in lending to one another. As the Dow continues to plummet, it's helpful to understand another metric (which still doesn't offer much room for optimism right now).
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POPSMore liquidations coming? In the past few years, not only were banks and hedge funds willing to find a way to give loans to desperately struggling companies, but most companies were able to get debtor-in-possession financing to weather bankruptcy. Retailers like Linens N Things might have had the option to enter bankruptcy protection, exit troublesome leases, and shape up its business. Is Linens N Things impending liquidation a sign that retailers and companies in other industries will be forced to liquidate irather than rework a business in bankruptcy?
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POPSThe only thing we have to fear.. Every day of the past few weeks, the markets offer new reasons to be fearful of what the economy will spring on all of us worldwide. This column offers not so much solace but at least a few ideas of where to look. Benjamin Graham's book is a worthwhile read for all investors and individuals at all times but may be even more worthwhile to understand the market fundamentals.
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POPSBudgeting Time? Times' "Your Money" Ron Lieber suggests we skip the dreaded "B" word and try out a free web site to sort expenses. A good idea for small businesses owners and everyone. Why not take control over the things we can control like discretionary spending? Most small business owners fund at least some of the business with personal savings. Might be time to keep an even closer eye on the personal budget.
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POPSMr. Mayor Mr. Mayor Mr. Mayor Over the past few weeks, I've heard people throw Michael Bloomberg's name into the pool of hypothetical contenders for the Presidency, speculating that Michael Bloomberg could run for President today or tomorrow or even next week and clinch it. His name's been thrown around as a possible financial csar of the US. Bloomberg evaded the question on Meet The Press as to whether he would seek a third term. If the New York Times' report proves true, Bloomberg's next move could be the most shocking next step for the Mayor.
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POPSInspiration in trying times As Wall Street continues to get slammed today, this is worth a read. Our financial system may be shaken but entrepreneurs are continuing to invent and change the game of nearly every imaginable industry. All of the businesses the WSJ highlights are exciting ones.
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POPSIn a world with so few certainties.. Friday night's debate is still clearly up in the air. It's still very difficult to follow McCain's logic of why debating Friday night would keep the candidates out of the debate in Washington over the state of the economy. I think we all need to hear them articulate their ideas on what they'll do for the economy as soon as possible. Yes- when Congress acts on the "bailout", the implications will be huge, but the economic conversation needs to continue long after this round and November is coming soon...
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POPSShorting history Good article outlining the history of placing the blame on the shorts - not on the problem stocks or the market issues underlying what the shorts are betting against.
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POPSPresidential Shackles Good, if depressing assessment, of the next President's options. Over the next two months, it will be important for the media and the public to remember the handcuffs that this economic crisis and the ensuing bailouts have placed on the US government and judge the Presidential proposals accordingly.
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POPSDesk jockeys? Exercising probably makes most people productive and clearly many people have trouble fitting in exercise between work and family obligations. Not sure if running and typing is the best answer though!
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POPSHealing Wounds Inflicted by the medical system Dr. Pauline Chen's new column debuted today on the NYT online edition. Judging from the first one, it looks like it will be worth keeping an eye on. Her aim -- to lessen some of the distrust between doctors and patients - is a worthy one, and the written word may be a good start.
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POPSFinancial Partners Great section of the NYT and great advice -- Wealth and Personal Finance - for those lucky enough to need such advice. This piece on financial side of a marriage offers a good roadmap for building a long-term financial union with a partner. For small business owners and budding entrepreneurs -- this article deserves a read. Even if you're not going into business with your partners, you're likely putting your joint assets on the line.
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POPSGoing global isn't going away The high price of oil is forcing some businesses to curtail globalization but as the US economy continues to flail, going global could be the only way for some businesses to offset slower US sales. Businesses, big and small- will have to weigh this strategy. This article's worth a read. Another sign that with the sagging economy, companies of all sizes and in all different niches are
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POPSNo news isn't good news For small businesses = getting candidates attention or getting them to speak up about how they'll help the small business community hasn't been easy. One reason - despite the large number of small businesses, oftentimes, they don't have a clear stance on the issues. The NFIB, typically more conservative though definitely not in all respect, represents one of the US's largest lobbying groups and it reaches a wide group at very much a grassroots level. Still there even on issues like health care, it's difficult to suss out exactly what all small businesses want. Same goes for taxes... The NFIB has a position and a huge membership base but it's unclear how much its membership votes the "NFIB" line.
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POPSInnovation crisis? Quick synopsis of Judy Estrin, Tech entrepreneur's new book, “Closing the Innovation Gap.” The book sounds intriguing and worth reading to see if her argument on why Silicon Valley right now isn't ripe for breeding entrepreneurs.
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POPSThe new realities of keeping up-cashing out Interesting commentary on the downsides of the lack of VC and IPO money buying out tech companies but the surprising upside as well - entrepreneurs can now run these same companies at a much lower cost.
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POPSSocial networking gone wild? Is their irrational exuberance in the social networking world these days? A billion dollar price tag for the less technologically savvy site Linked In could hint at such a bubble. Yes it generates revenues already unlike many companies during the dot come heyday. On the flipside, times are ripe for innovative social networking sites built by entrepreneurs, as long as you can attract a following - which is getting harder and harder in the crowded social networking world.
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POPSPutting women's economic agenda in the forefront With all the chatter about Hillary Clinton inevitably losing her bid to become the first female President of the United States, much of the dialogue ends there. Even during the campaign, little was said about enduring economic divide between women and men. This article lays out a few areas worth looking at. They all warrant a closer look.
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POPSCorporate Marital Bliss Great article outlining how Disney and Pixar have made it work and how Pixar has maintained some degree of entrepreneurial culture within a large corporation.
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POPSNot a bubble but still painful For better or worse? The WSJ's poll of economists says that the boom in oil and food prices isn't an investing bubble but a fundamental shift in supply and demand.
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POPSMeasuring innovation Fascinating look at how to measure innovation. Stephen Dubner, one of the author of Freakonomics, has tapped some of the leading thinkers on innovation to share their thoughts on measuring. Not surprisingly, the answers range dramatically on their ideas on how to get this done (or in some cases better not to).
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POPSThe MAP (cnn) If you've found yourself in awe of CNN's map and its functions, here's a story for you. The story briefly cites the name of the entrepreneurs behind the map technology: http://www.perceptivepixel.com/ These are entrepreneurs I'd like to learn more about.
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POPSCan Facebook cure malaria? According to Reuters, a British serial entrepreneur launched a social networking site designed to help fight malaria. Yet another entrepreneur bringing capitalism and the spirit of entrepreneurship to social causes!
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POPSComing soon to a country near you Canada's leading the way but it looks the US could soon introduce legislation to ban potentially toxic plastic bottles. Scary stuff -- from what some of the labs are showing. Could cause companies like Nalgene to take a hit but offers up a new niche for entrepreneurs.
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POPSCalifornia cracks down on health insurance fraud Good news for California consumers. The state government has been weighing what to do about insurers who have canceled policies using odd and sketchy loopholes once a patient is diagnosed with a serious illness.
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POPSStart your own entrepreneurs group I just came across this December article today but I think a writer's house at the University of Pennsylvania has lessons for entrepreneurs. Everyone says it - support networks, mentors, etc. are critical for any successful small business owner. Much like writers, entrepreneurs are casting out into unchartered territory on their own. It helps to have a group of people charting their own journey to talk to and work with. This article has an interesting tale of how this writer's haven blossomed from one professor idea, but particularly with web 2.0 to facilitate it, it's never been easier to create your own group, support network or exchange forum with other entrepreneurs in your area. Yes, there are zillions online, but find people who you can actually see and meet with in person. There are other small business owners in your area, and no doubt they need someone to talk to as well.
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POPSPinkberry -- nothing's perfect Bring a disruptive product to market and you're sure to inspire copycats and face the wrath of a few detractors. Pinkberry must pay for its "all-natural" claims. $750,000 is not small change but probably won't bankrupt Pinkberry. The question is whether its misrepresentations of healthiness will do anything to slow down the lines at Pinkberrys in cities around the country. Perhaps the other bigger question is whether the copycats like Red Mango which is oddly enough right across the street from a new Pinkberry on 14th and 6th avenue in Manhattan (along with so many others in close proximity) will draw the crowds away from the "original." It does seem unlikely that Pinkberry and its competitors with very very similar product offerings can both survive and thrive.
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POPSPlan first, quit later A few good points in this article - throw yourself a business kick-off party, find the right workspace, etc, but really -- don't wait until day 1 to put your business plan down on paper. You'll want to start the brainstorming process long before you go out on your own. By day one, you should have a business plan in place and perhaps even some clients. The author of this articel is right- it can take two years for even a business with the best laid plasn so don't jump ship if you can't afford to without doing some planning up front and before you're on your own.
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POPSMcCain's preexisting conditions As I've mentioned before in my health care coverage, right now, if you have cancer, diabetes among other diseases, you will not be able to get health insurance (if your employer doesn't already provide it) on the individual market. New York guarantees coverage for all, but for that reason, everyone pays much higher premiums for small business and individual coverage. Paul Krugman does a great job laying out why Senator McCain's health care plan would do nothing to change that. It's one of the scarier parts of the American health care system. Imagine you lose your job, decide not to buy insurance, find out you have cancer and are denied health insurance coverage at even the highest rates. That's reality right now for Americans in a majority of states.
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POPSPatent reform is moving along Much to the dismay of the pharmaceutical industry and the cheers from the tech world, patent reform is moving along in Congress. Of course, it could all coming to a screeching halt and if it doesn't pass soon, no one in Congress will touch it closer to Election Day. We'll be keeping an eye out
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POPSPlastic no more Today's NYT blog on plastic bag offers up one more sign of the public's appetite for the green movement. Soon perhaps if New York City follows Whole Foods we'll all be carrying our groceries in our hands or our own bags. Looks like big businesses like Whole Foods are finding new ways to commercialize the green movement wiht the GreeNYC bags and alternative plastic bags is probably a difficult niche to break into now. But more and more we'll all be moving away by will or perhaps by force from the everyday things we do to pollute the earth. Small businesses have hundreds of new ways to find greener substitutes, make a profit, and save the earth
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POPSGovernment adding to the unemployed Great Wall Street Journal that outlines how the government by contracting with private companies actually adds to the ranks of the uninsured in the United States.
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POPSMore of a push for health care reform This article outlines how the highly anticipated or widely feared recession could hit hospitals and doctors too. If the medical industry was ever recession-proof, it's definitely not now. With some exceptions, consumers are likely to cut back on medical care as they fear a coming economic crisis. The downturn in the economy could add ever more to the push for reform to the health care system.
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POPS Trading your frappucino for a smile Not so long ago, Starbucks was putting all the local small coffee shops out of business - -new flavors of coffee, types, styles. It seemed that the local mom and pops would never be able to compete. Yet again the small entrepreneur lives to sing another tune. I too once thought I have few options beyond Starbucks for a pretty good cup of coffee. Now, i've got several options. Joyce near my house in Brooklyn offers really great coffee and the women who work there know my name and my order. At Grey Dog, a local Manhattan coffee haunt that just opened its second store near my office, I can get probably the best coffee I've ever sampled for 15 cents less than the same cup of Starbucks coffee. The staff is great. Now Starbucks will spend the next several years trying to feed that spirit and possibly better coffee back into its brand. Sometimes it's just too difficult to compete with a smile and a personally brewed cup of coffee
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POPSHelp for the 24/7 entrepreneur Many if not most entrepreneurs find their business world and personal life colliding. Since it's hard to leave work behind when you go home or perhaps you work from home, hiring a range of personal assistants -- drivers, cooks, housekeepers - can only help your business. This article lists a range of household services that you can outsource and offers a range of good tips on the best places to find help.
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POPSQuiet on the immigration legal front but not for small businesses The immigration debate may have suddenly turned eerily silent this year. The silence is deafening for small business owners. Congress's standstill is forcing small business owners to do without their typically seasonal workers from other countries. This article spells out the problem quite succintly and also makes it clear that the pain is acute for the small business owners reliant on immigrants.
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POPSIt's the little things. Today the Dealbook points out that J. Crew's stock price has more than doubled. A few weeks ago the Times columnist dug into the little things the CEO Micky Drexler has done to turn around the company. You see it when you walk in their stores -- members of the staff are helpful. The layout's amazing and the clothes are much much more enticing than a year or two ago. Big or small, it's important for all business owners to focus on the little things like merchandising that can generate big returns in the long run.
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POPSExciting computer news According to this WSJ, small businesses will soon have more opportunities to dump their internal servers and jump on board Google and Microsoft's servers. Cost savings, no headaches from server problems. The real question: what are the potential downsides of ditching your internal server?