Today President Obama spoke about the economy. He spoke about the troubles in Europe and their potential impact on the US economy. He tried to counter the Republican line that his administration's policies have caused many of the problems in Europe.
During this speech, he stated that "the private sector is doing fine." Within minutes, this comments spread like wildfire throughout the internet and conservative news outlets. Mitt Romney has called the President "out of touch"and somehow tried to spin this to show that because there is still unemployment, the private sector is NOT doing fine.
Sadly, the President chose to walk back his comments rather than go head to head with Romney on this issue. From the beginning, this election has been about the health of the economy, which stems from the irresponsible actions of the financiers on Wall Street. This was a fantastic opportunity for the President to point out that, in fact, the private sector IS doing fine. Have you seen the profit reports over the past 18 months? Have you seen the DOW and NASDAQ numbers? These indicies are higher than they were prior to the crash in 2008, yet unemployment remains high. So, how is that the fault of Obama's policies? It sounds to me that the blame lays square with corporations, who are sitting on more liquid cash than ever. Uncertainty is their excuse, but a pathetic excuse it is.
"Time is money" and "You have to spend money to make money" are some of the timeless cliches used in our capitalist system and every day wasted is an lost opportunity. So you can't tell me that a bunch of successful business folks are just sitting on this money, wasting the chance to make even more money for a few percentage points in interest or their personal wealth (Bush tax cuts). More investment happened when interest rates were higher and they did just fine, so why is it such an issue now?
The President needs to call out this ridiculous argument for what it is: an excuse for conservatives to say Willard is a better choice. Indeed, it might be a better choice for the wealthy, but they are trying to manipulate the average Joe and Jane to believe they will somehow be better off under a Willard (Mitt) Romney reign. Nothing but the opposite could be true and we only need to look at the Bush years to illustrate it.
The President needs to stand up and be more firm; Democrats need to stop allowing this type of control over the discussion. It continues to be the theme and continues to make liberals like me believe that the Democratic party is made up of a bunch of spineless goons.
Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts
Friday, June 8, 2012
Wednesday, February 22, 2012
We've All Got an Itch to Scratch
Today, President Obama has unveiled a plan calling for the elimination of corporate tax loopholes and tax cuts. Clearly this is a savvy political move before the election, especially considering many of his possible opponents are advocating similar reductions.
Although we've now experienced two consecutive months of employment gains--a reduction in new unemployment claims--this should not mean we should take our eye off of the problem of unemployment. Despite a decrease in new claims, we need to ask for statistics about those who are no longer being counted; those who have exhausted their 99 weeks of UI benefits and are no longer a part of official numbers should still be of grave concern for the well being of our nation. We may be officially hovering around 8.5%, but the number is likely much higher. Millions of Americans are still trying to figure out how to feed themselves; every day they don't work is another day further from landing employment and the longer one is unemployed, the less likely an employer will be to hire that individual.
What are we going to do to turn around this crisis? In my previous post, I advocated for hiring managers to take a chance on the unemployed; I even challenged the President to renew the tax cuts he once gave to employers for hiring an individual unemployed longer than eight months.
The Dow is flirting with 13,000, higher than before the Great Recession and clearly much higher than during the Clinton years of prosperity. Admittedly, I'm not an economist, but as an average guy on Main Street, I have to wonder how the Dow is doing so well but millions of people like me are not.
It's time to play hardball (and not with Chris Matthews); a good old game of "I'll scratch your back, if you scratch mine." Instead of simply cutting corporate tax rates for good Presidential PR during an election year, we should be calling for a more comprehensive plan. If we, the tax payers, are going to scratch the back of corporations by taking on more of the burden they will NOT be paying, they need to scratch ours.
An illustration: Company ABC will receive a tax credit for every long-term unemployed American hired. Once the company hires more than X number (predetermined number which can be a fixed number, say 10 or scaled to the size of the business) of the long-term unemployed, they will automatically receive a reduction in their effective rate, dropping it to 25% (the rate being floated as acceptable).
Of course, we would require some sort of mechanism to avoid game players who want to hire and fire, just to reap the benefit of a tax cut.
Let's face it, in many ways, this is much ado about nothing. There are myriad of reports about the number of corporations who are skirting all tax liabilities anyway. That said, tax cuts are not just a gift that is given because you clamor loud enough and threaten votes. There are roads to upkeep (that facilitate the transport business goods), bridges to maintain, disabled veterans to support and many other necessities to which we, as a country, must contribute to in order to maintain prosperity. We'll all in this together!
This plan is comprehensive and one from which everyone benefits: The President gets points with voters for implementing a jobs creation program; the President also garners points with the business community for finding ways to cut taxes; Congress gets points for working together to help both Wall Street and Main Street; Americans win by getting back to work; Business wins by obtaining tax cuts and consumers who will begin spending again.
Cross posted from The HuffPo
Although we've now experienced two consecutive months of employment gains--a reduction in new unemployment claims--this should not mean we should take our eye off of the problem of unemployment. Despite a decrease in new claims, we need to ask for statistics about those who are no longer being counted; those who have exhausted their 99 weeks of UI benefits and are no longer a part of official numbers should still be of grave concern for the well being of our nation. We may be officially hovering around 8.5%, but the number is likely much higher. Millions of Americans are still trying to figure out how to feed themselves; every day they don't work is another day further from landing employment and the longer one is unemployed, the less likely an employer will be to hire that individual.
What are we going to do to turn around this crisis? In my previous post, I advocated for hiring managers to take a chance on the unemployed; I even challenged the President to renew the tax cuts he once gave to employers for hiring an individual unemployed longer than eight months.
The Dow is flirting with 13,000, higher than before the Great Recession and clearly much higher than during the Clinton years of prosperity. Admittedly, I'm not an economist, but as an average guy on Main Street, I have to wonder how the Dow is doing so well but millions of people like me are not.
It's time to play hardball (and not with Chris Matthews); a good old game of "I'll scratch your back, if you scratch mine." Instead of simply cutting corporate tax rates for good Presidential PR during an election year, we should be calling for a more comprehensive plan. If we, the tax payers, are going to scratch the back of corporations by taking on more of the burden they will NOT be paying, they need to scratch ours.
An illustration: Company ABC will receive a tax credit for every long-term unemployed American hired. Once the company hires more than X number (predetermined number which can be a fixed number, say 10 or scaled to the size of the business) of the long-term unemployed, they will automatically receive a reduction in their effective rate, dropping it to 25% (the rate being floated as acceptable).
Of course, we would require some sort of mechanism to avoid game players who want to hire and fire, just to reap the benefit of a tax cut.
Let's face it, in many ways, this is much ado about nothing. There are myriad of reports about the number of corporations who are skirting all tax liabilities anyway. That said, tax cuts are not just a gift that is given because you clamor loud enough and threaten votes. There are roads to upkeep (that facilitate the transport business goods), bridges to maintain, disabled veterans to support and many other necessities to which we, as a country, must contribute to in order to maintain prosperity. We'll all in this together!
This plan is comprehensive and one from which everyone benefits: The President gets points with voters for implementing a jobs creation program; the President also garners points with the business community for finding ways to cut taxes; Congress gets points for working together to help both Wall Street and Main Street; Americans win by getting back to work; Business wins by obtaining tax cuts and consumers who will begin spending again.
Cross posted from The HuffPo
Thursday, February 9, 2012
National Mortgage Settlement Already a #Fail
Attorneys General across the country held press conferences this morning to boast their 'victory' against the banks, having come to a settlement called the National Mortgage Settlement. If you haven't heard, it is an agreement by the 5 big mortgage loan servicers--JP Morgan Chase, Citi, Wells Fargo, Bank of America and Ally/GMAC--and the government, which requires the former to pay damages for practices that violated the law and caused the housing bubble burst. You can find out more information here.
Only hours into the announcement and it appears to be another complete failure, much like the Making Homes Affordable Program from 2009. I've contacted Chase, as outlined by the NMS website, on three occasions today and none of their representatives have any idea what I'm referring to or what to do. They are giving me information about my foreclosed property that has nothing to do with the NMS process. One referred me to their lawyer's office, who also has ZERO clue about this settlement.
So what's going on here? It looks like another complete failure by both government and the banks. We always hear the business community tell us that capitalism works and is so great because private industry can do things better and more efficiently than government. Oh yeah? Then why is the government making an announcement about an agreement 5 private banks made and yet the banks have no clue about it? I've worked in a call center before; I've even worked for a banking call center. When big news is being released, the call center is notified a day or two ahead of time in order to prepare for possible questions and responses. That would be an efficient business model in my opinion.
It's beginning to look like another case of the run-around, whereby the government gets positive PR out of the housing crisis by appearing 'tough' against the banks. The banks get positive press out of it because they 'settled' as opposed to getting dragged into court and 'forced' to pay out for their violations of the law. Good PR for everyone, but empty promises for the average consumer.
It's only day one, but this is already sounding a lot like my experience with the Making Homes Affordable Program, which we all know was a failure!
As a post script, before you comment on this blog about people shouldn't own homes if they can't afford it--like this guy--go back and read my story. I bought the place with a very well paid job and a lot of money in savings in addition to perfect, pristine credit (in the 800s). The reason I could no longer afford my mortgage was NOT a result of overextending myself, it was a result of a collapsed economy that prevented me from finding work. This was also the case for millions of others in America.
Only hours into the announcement and it appears to be another complete failure, much like the Making Homes Affordable Program from 2009. I've contacted Chase, as outlined by the NMS website, on three occasions today and none of their representatives have any idea what I'm referring to or what to do. They are giving me information about my foreclosed property that has nothing to do with the NMS process. One referred me to their lawyer's office, who also has ZERO clue about this settlement.
So what's going on here? It looks like another complete failure by both government and the banks. We always hear the business community tell us that capitalism works and is so great because private industry can do things better and more efficiently than government. Oh yeah? Then why is the government making an announcement about an agreement 5 private banks made and yet the banks have no clue about it? I've worked in a call center before; I've even worked for a banking call center. When big news is being released, the call center is notified a day or two ahead of time in order to prepare for possible questions and responses. That would be an efficient business model in my opinion.
It's beginning to look like another case of the run-around, whereby the government gets positive PR out of the housing crisis by appearing 'tough' against the banks. The banks get positive press out of it because they 'settled' as opposed to getting dragged into court and 'forced' to pay out for their violations of the law. Good PR for everyone, but empty promises for the average consumer. It's only day one, but this is already sounding a lot like my experience with the Making Homes Affordable Program, which we all know was a failure!
As a post script, before you comment on this blog about people shouldn't own homes if they can't afford it--like this guy--go back and read my story. I bought the place with a very well paid job and a lot of money in savings in addition to perfect, pristine credit (in the 800s). The reason I could no longer afford my mortgage was NOT a result of overextending myself, it was a result of a collapsed economy that prevented me from finding work. This was also the case for millions of others in America.
Tuesday, January 31, 2012
Hope for the Long-Term Unemployed on WGN
WGN asked a question in September 2011 on their Facebook page about the fallout of long-term unemployment. Did they experience foreclosure, bankruptcy and other less desirable life events? I responded! Since then I have been working with an excellent producer to tell the story of the long-term unemployed. We didn't, however, just want to tell a story about being unemployed; we wanted to tell a story about how, despite all of the adversity, the long-term unemployed are chugging along and trying to become productive, tax paying citizens once again. The numbers are still against us; when there are millions of people unemployed and only hundreds of thousands of jobs created, there will inevitably be a deficit.
Many of the unemployed are left wondering what to do. Retraining may be a viable option, especially if you are being retrained in high growth areas. If you're unemployed, however, you may not have the cash to pay to retrain. More and more programs are popping up around the country to help. One such program, of which I am a member and will be highlighted during the segment, is Chicago Career Tech, a job retraining program initiated by Mayor Richard M. Daley and the business community.
Check out the story during the WGN news at 9pm on Thursday February 2nd and again during various news broadcasts on Friday the 3rd.
Unemployed? What have you been doing to get through it? Were you long-term unemployed (longer than 8 months) and landed something? What worked for you? Share it with us all in the comment section below.
Many of the unemployed are left wondering what to do. Retraining may be a viable option, especially if you are being retrained in high growth areas. If you're unemployed, however, you may not have the cash to pay to retrain. More and more programs are popping up around the country to help. One such program, of which I am a member and will be highlighted during the segment, is Chicago Career Tech, a job retraining program initiated by Mayor Richard M. Daley and the business community.
Check out the story during the WGN news at 9pm on Thursday February 2nd and again during various news broadcasts on Friday the 3rd.
Unemployed? What have you been doing to get through it? Were you long-term unemployed (longer than 8 months) and landed something? What worked for you? Share it with us all in the comment section below.
Wednesday, January 18, 2012
Newt: Less Talk, More Action, Please!
Newt Gingrich recently affirmed that he would continue to fight to get people back to work. At a recent debate in South Carolina, he even stated that he was going to help people "get a job, to get a better job and learn someday to own the job!" That sounds amazing! What a promise! Unfortunately, much of the promise is typically preceded by contempt for the unemployed. In fact, he sounded only slightly less contemptuous than the last time, which prompted my previous challenge to him.
Newt should know better than everyone that 80% of jobs are not found on the internet or newspaper ads; they are found by networking. The old adage about "It's all about who you know" is repeated over and over in job search articles, by career coaches and anyone giving advice to the unemployed on the internet.
So, I once again challenge Newt to put his words into action. What, specifically, is Newt going to do to get people back to work?
I'm sure Newt has been shaking a lot of hands while on the trail. Has he done anything else to take it to the next level? Does he actually LISTEN to any of those with whom he shakes hands? Has he connected an unemployed supporter with an employed friend? Recent data shows that there are many companies out there not able to fill positions. Newt certainly has friends in hiring positions or business owners that could help the unemployed.
The bottom line is that he won't. And his rhetoric is great for applause, but fails to recognize simple math and facts.
Fact #1: There are more unemployed people than there are open positions. If there are 8 million people unemployed and only 200,000 jobs were created last quarter, that means 7.8 million people would NOT find a job. It's like having 5 pairs of shoes for 10 people; 5 people will NOT be wearing shoes.
Fact #2: This is not an Obama problem, this is a business community problem. The Republicans are complaining that taxes are too high and therefore there is no money to hire. First, that's not true because the Dow is now about 12,000, higher than ever under Bush 2. Businesses are reported to have a LOT of cash-on-hand.
Second, the tax rates in place were fought for under Bush as a way to improve the tax structure for businesses. Obama has kept those rates in place. How, now, is that not good enough to hire people? They were good enough rates under Bush, but no longer any good under Obama? Sounds like politiking to me. It appears the business community is PURPOSEFULLY holding back on hiring in an effort to smear the Democrats and the Obama administration.
Newt, if you're genuine and serious about getting people back to work, then start showing it. Maybe you will garner more votes by showing the voters your hands-on approach to helping the unemployed land suitable jobs. If you're not genuine, I'll just keep calling you out on it.
Newt should know better than everyone that 80% of jobs are not found on the internet or newspaper ads; they are found by networking. The old adage about "It's all about who you know" is repeated over and over in job search articles, by career coaches and anyone giving advice to the unemployed on the internet.
So, I once again challenge Newt to put his words into action. What, specifically, is Newt going to do to get people back to work?
I'm sure Newt has been shaking a lot of hands while on the trail. Has he done anything else to take it to the next level? Does he actually LISTEN to any of those with whom he shakes hands? Has he connected an unemployed supporter with an employed friend? Recent data shows that there are many companies out there not able to fill positions. Newt certainly has friends in hiring positions or business owners that could help the unemployed.
The bottom line is that he won't. And his rhetoric is great for applause, but fails to recognize simple math and facts.
Fact #1: There are more unemployed people than there are open positions. If there are 8 million people unemployed and only 200,000 jobs were created last quarter, that means 7.8 million people would NOT find a job. It's like having 5 pairs of shoes for 10 people; 5 people will NOT be wearing shoes.
Fact #2: This is not an Obama problem, this is a business community problem. The Republicans are complaining that taxes are too high and therefore there is no money to hire. First, that's not true because the Dow is now about 12,000, higher than ever under Bush 2. Businesses are reported to have a LOT of cash-on-hand.
Second, the tax rates in place were fought for under Bush as a way to improve the tax structure for businesses. Obama has kept those rates in place. How, now, is that not good enough to hire people? They were good enough rates under Bush, but no longer any good under Obama? Sounds like politiking to me. It appears the business community is PURPOSEFULLY holding back on hiring in an effort to smear the Democrats and the Obama administration.
Newt, if you're genuine and serious about getting people back to work, then start showing it. Maybe you will garner more votes by showing the voters your hands-on approach to helping the unemployed land suitable jobs. If you're not genuine, I'll just keep calling you out on it.
Tuesday, January 17, 2012
Upcoming Discussion about Jobs After the State of the Union Address
You are invited to join a viewing of the State of the Union Address on Tuesday Jan 24, 2012 at Next Door Chicago at 8pm.Following the speech, Next Door is hosting a round table discussion with individuals from different political views, including the Young Republicans of Illinois. I have been asked to participate in this discussion since it will involve conversations about jobs, the unemployed, unemployment benefits and much more!
I hope you'll come join the discussion.
For more information on time and location, visit Next Door's website
The Frustrations of the Unemployed
Happy New Year everyone. Sorry I've been on a bit of a hiatus. If you're unemployed, you understand the ups and downs of emotions. Frankly, I just haven't had it in me to post.
Now, however, the new year is already bringing new hope and possibilities and I'm very excited about what the future holds.
Today, however, I wanted to take a peek at an article I saw on LinkedIn. Initially, it caught my eye because the author said he wanted to be "raw" and "honest." I couldn't help but agree with him that most articles about "how to get a job" have become rather cliche. Unfortunately, Mr. Balmer's attempt did not improve much on what's already out there. In fact, he was a bit brash in his tone.
View the full article here
More interesting than Mr. Balmer's advice, however, were the comments in the comment section, particularly the first comment by 'timgray." Tim does an amazing job of pointing out the absolute craziness with the interview/job search process. Employers are dictating all of the advice on how perfect a candidate should be while falling far short of perfection themselves. I can't tell you the number of times I've scratched my head in confusion by the 'laws' that govern the job search and the reality of people and society.
In addition to Tim's suggestions, I've always been frustrated--as a Language major--at the articles written about attention to spelling and syntax in resumes yet find countless examples of error-filled job requisitions.
How about the places that specifically state the position is an entry level position, yet requires 2-3 years of experience?
We also constantly hear that employers want to see we are "go-getters" and "ambitious" but "No phone calls or emails please" to show that ambition to them and stand out among the thousands of resumes.
And what's with the cover letter requirements only to have a phone screener asking me the basics of what was in my cover letter?
Most importantly: my name. If I wrote you a letter asking for a job and misspelled your name that was clearly written in the job requisition, would you throw out my resume? Conventional wisdom says yes, because we weren't "paying attention to detail." But, where is the respect when writing back to me and spelling my name correctly? My name was clearly in the cover letter, in bold and large font at the top of my resume, in my email and as part of my email address. I know you're busy folks in HR, but does it take that long to simply verify that you spelled my name correctly?
Mr. Balmer has some valid points, but his words can also be viewed as rather "picky." It's no wonder that there are A LOT of jobs unfilled while millions who want to work remain without jobs and we continue to hover around an unemployment rate of 8.5%.
I recently heard on a major network that 2012 will be the year that employers hire more to train more. Employers are going to help close the skills gap. Removing some of those overly "picky" qualifications will help their process.
Here's to a better 2012 for you all out there!
Now, however, the new year is already bringing new hope and possibilities and I'm very excited about what the future holds.
Today, however, I wanted to take a peek at an article I saw on LinkedIn. Initially, it caught my eye because the author said he wanted to be "raw" and "honest." I couldn't help but agree with him that most articles about "how to get a job" have become rather cliche. Unfortunately, Mr. Balmer's attempt did not improve much on what's already out there. In fact, he was a bit brash in his tone.View the full article here
More interesting than Mr. Balmer's advice, however, were the comments in the comment section, particularly the first comment by 'timgray." Tim does an amazing job of pointing out the absolute craziness with the interview/job search process. Employers are dictating all of the advice on how perfect a candidate should be while falling far short of perfection themselves. I can't tell you the number of times I've scratched my head in confusion by the 'laws' that govern the job search and the reality of people and society.
In addition to Tim's suggestions, I've always been frustrated--as a Language major--at the articles written about attention to spelling and syntax in resumes yet find countless examples of error-filled job requisitions.
How about the places that specifically state the position is an entry level position, yet requires 2-3 years of experience?
We also constantly hear that employers want to see we are "go-getters" and "ambitious" but "No phone calls or emails please" to show that ambition to them and stand out among the thousands of resumes.
And what's with the cover letter requirements only to have a phone screener asking me the basics of what was in my cover letter?
Most importantly: my name. If I wrote you a letter asking for a job and misspelled your name that was clearly written in the job requisition, would you throw out my resume? Conventional wisdom says yes, because we weren't "paying attention to detail." But, where is the respect when writing back to me and spelling my name correctly? My name was clearly in the cover letter, in bold and large font at the top of my resume, in my email and as part of my email address. I know you're busy folks in HR, but does it take that long to simply verify that you spelled my name correctly?Mr. Balmer has some valid points, but his words can also be viewed as rather "picky." It's no wonder that there are A LOT of jobs unfilled while millions who want to work remain without jobs and we continue to hover around an unemployment rate of 8.5%.
I recently heard on a major network that 2012 will be the year that employers hire more to train more. Employers are going to help close the skills gap. Removing some of those overly "picky" qualifications will help their process.
Here's to a better 2012 for you all out there!
Tuesday, November 29, 2011
Today Reframe: Bankruptcy, American Airlines & the Average Joe
Today's announcement that American Airlines' parent company AMR is filing for Chapter 11 Bankruptcy protection illustrates one of my most important points about shame and how to Reframe Shame in our own lives. Ironically, it's also a poignant example for the Occupy Wall Street folks to point out to those still questioning their message.
The common refrain in our culture upon hearing about someone who has filed for bankruptcy is "What a lazy bum! Why don't they just pay their bills?!" Typically the person is labeled irresponsible and one deserving of much scorn.
Unfortunately, much of that ire comes from the misinformed notion that everyone who files for bankruptcy is doing so fraudulently or that they all have lived an irresponsible life and are "gaming the system": lavish vacations, expensive jewelery and luxury vehicles, all on the credit card. Even former President George W. Bush signed a bill into law to prevent "abuse."
That notion, however, doesn't reflect the reality and it doesn't give us as citizens much credit about our integrity. In fact, most bankruptcies are filed as a result of divorce, job loss or insurmountable medical bills.
It was amazing to read the comments regarding my appearance in a Chicago Tribune article about my bankruptcy (The Tribune has since taken down and closed the comment section).
While there were many who commented, supporting my decision and gave me kudos, there were equally as many who called me terrible names and made disgusting judgments about me. Had they actually read the article, however, they would have noted that I used to have a credit score in the 800s (likely better than theirs), a very low credit card debt and I didn't purchase a condo that was beyond my income. I, like many unemployed Americans in this country, had not led a reckless lifestyle and was not "gaming the system."
All this didn't matter though. Upon hearing the term "bankruptcy," one is immediately labeled with all of the negative terms we have available in our vocabulary.
Contrast this response to the business community.
When a business fails to meet its financial obligations and file for bankruptcy, its leaders are lauded as "savvy" for protecting the interests of its shareholders. More often than not, we also observe a rise in stock prices immediately following the announcement. I once remember a CNBC reporter on the floor of the NYSE actually say how savvy an organization's leaders were for saving that company and its shareholders' interests.
Bankruptcy is a legal tool for use by individuals and corporations in the US. Let me repeat that: It is LEGAL. We treat individuals who use that tool like criminals and we applaud corporations who use it, as if their intentions are any less questionable, especially when you have an organization like AMR announcing the bankruptcy while also announcing they still have $4.1 Billion in the bank. During my bankruptcy, had I still had a significant amount of money in the bank, I would have likely had to forfeit it. I won't even discuss how irresponsible corporations can be knowing bankruptcy is coming. Would you manage your personal finances that way?
In addition to being legal, bankruptcy also allows people, and corporations, a new beginning and a fresh start. An excellent example of how bankruptcy, when used appropriately, can help individuals find success is Walt Disney. Walt Disney filed for bankruptcy in 1923 with his first attempt at a film studio. He would go on to create an entire empire. That's not all, "honest" Abe Lincoln, Milton Hershey and many other "famous" Americans have filed for bankruptcy and ended up becoming wealthy and successful.
Now I'm not advocating that everyone go out and file for bankruptcy. Furthermore, I'm not advocating that IF you file for bankruptcy, you will go on to own a wildly successful empire like Walt Disney. I'm simply stating that the notion that we, as individuals, should be slammed for looking out for our best financial interests when hit by unfortunate, often unforeseen, circumstances is hypocritical.
For corporations, we don't organize mass boycotts of organizations that file for bankruptcy, do we? No, but as individuals we are blacklisted for eight years (it used to be seven, but Bush's law changed it to eight) from obtaining favorable interest rates, buying a home, a car, etc. Where's the fairness in that?
If you've had to file for bankruptcy or are thinking about it, remember that it's not the end of the world, it's a new beginning. Learn from any mistakes, if any, and move on. The shame you may be feeling is a result of the negative judgments coming to you from societal cues. If you truly fell on hard times through no fault of your own, bankruptcy is in your best interests. You, like corporations, need to look out for your best interests to remain competitive in this market.
Best wishes!
The common refrain in our culture upon hearing about someone who has filed for bankruptcy is "What a lazy bum! Why don't they just pay their bills?!" Typically the person is labeled irresponsible and one deserving of much scorn.
Unfortunately, much of that ire comes from the misinformed notion that everyone who files for bankruptcy is doing so fraudulently or that they all have lived an irresponsible life and are "gaming the system": lavish vacations, expensive jewelery and luxury vehicles, all on the credit card. Even former President George W. Bush signed a bill into law to prevent "abuse."
That notion, however, doesn't reflect the reality and it doesn't give us as citizens much credit about our integrity. In fact, most bankruptcies are filed as a result of divorce, job loss or insurmountable medical bills.
It was amazing to read the comments regarding my appearance in a Chicago Tribune article about my bankruptcy (The Tribune has since taken down and closed the comment section).While there were many who commented, supporting my decision and gave me kudos, there were equally as many who called me terrible names and made disgusting judgments about me. Had they actually read the article, however, they would have noted that I used to have a credit score in the 800s (likely better than theirs), a very low credit card debt and I didn't purchase a condo that was beyond my income. I, like many unemployed Americans in this country, had not led a reckless lifestyle and was not "gaming the system."
All this didn't matter though. Upon hearing the term "bankruptcy," one is immediately labeled with all of the negative terms we have available in our vocabulary.
Contrast this response to the business community.
When a business fails to meet its financial obligations and file for bankruptcy, its leaders are lauded as "savvy" for protecting the interests of its shareholders. More often than not, we also observe a rise in stock prices immediately following the announcement. I once remember a CNBC reporter on the floor of the NYSE actually say how savvy an organization's leaders were for saving that company and its shareholders' interests.
Bankruptcy is a legal tool for use by individuals and corporations in the US. Let me repeat that: It is LEGAL. We treat individuals who use that tool like criminals and we applaud corporations who use it, as if their intentions are any less questionable, especially when you have an organization like AMR announcing the bankruptcy while also announcing they still have $4.1 Billion in the bank. During my bankruptcy, had I still had a significant amount of money in the bank, I would have likely had to forfeit it. I won't even discuss how irresponsible corporations can be knowing bankruptcy is coming. Would you manage your personal finances that way?In addition to being legal, bankruptcy also allows people, and corporations, a new beginning and a fresh start. An excellent example of how bankruptcy, when used appropriately, can help individuals find success is Walt Disney. Walt Disney filed for bankruptcy in 1923 with his first attempt at a film studio. He would go on to create an entire empire. That's not all, "honest" Abe Lincoln, Milton Hershey and many other "famous" Americans have filed for bankruptcy and ended up becoming wealthy and successful.
Now I'm not advocating that everyone go out and file for bankruptcy. Furthermore, I'm not advocating that IF you file for bankruptcy, you will go on to own a wildly successful empire like Walt Disney. I'm simply stating that the notion that we, as individuals, should be slammed for looking out for our best financial interests when hit by unfortunate, often unforeseen, circumstances is hypocritical. For corporations, we don't organize mass boycotts of organizations that file for bankruptcy, do we? No, but as individuals we are blacklisted for eight years (it used to be seven, but Bush's law changed it to eight) from obtaining favorable interest rates, buying a home, a car, etc. Where's the fairness in that?
If you've had to file for bankruptcy or are thinking about it, remember that it's not the end of the world, it's a new beginning. Learn from any mistakes, if any, and move on. The shame you may be feeling is a result of the negative judgments coming to you from societal cues. If you truly fell on hard times through no fault of your own, bankruptcy is in your best interests. You, like corporations, need to look out for your best interests to remain competitive in this market.
Best wishes!
Monday, November 28, 2011
Where are the Unemployed?
An interesting article was published today regarding the unemployed and their lack of a loud voice in the public discourse. While this article does a great job at discussing how labor and unions were once loud and influential in our society, I think it missed an important point: Shame.
I would contend that shame is a very powerful emotion that is both isolating and debilitating. Many people have not only been hit with unemployment, but they've lost their home as well, which can be a double dose of shame. Compound bad event after bad event and you find people who have become quite reclusive.
Please take a look at this Yahoo! Tumblr site and you'll see that the unemployed are out there talking, but their stories are those of despair and heartache. Their energy has gone into finding employment, not screaming at a political system that is cozy with the very establishment that has just thrown them out on the street.
I would contend that shame is a very powerful emotion that is both isolating and debilitating. Many people have not only been hit with unemployment, but they've lost their home as well, which can be a double dose of shame. Compound bad event after bad event and you find people who have become quite reclusive.
Please take a look at this Yahoo! Tumblr site and you'll see that the unemployed are out there talking, but their stories are those of despair and heartache. Their energy has gone into finding employment, not screaming at a political system that is cozy with the very establishment that has just thrown them out on the street.
Wednesday, November 23, 2011
A Challenge to Newt Gingrich
Dear Mr. Gingrich,
Throughout this primary season, you've been pretty vocal about a lot of things. Most important among them has been your fierce criticism of the Occupy Wall Street protesters across America. You've also been rather aggressive in challenging President Obama to "western style" debates that would be without a timer or arbitrator.
Today, I offer a challenge to you!
This is really a no-brainer challenge, one I'm sure you'll win: Get me back to work.
You and your ilk have recently criticized the OWS protesters and told them to "take a bath" and "get to work!" Well, I'm ready! In fact, I bathe daily, so no worries there. And here's the added bonus: I have a Master's degree, 10 years of work experience and even lived abroad in France, like you! As a result of these studies, I'm even fluent in French, which should be a terrific asset for any corporation now that we've built such a "global" economy.
So, what do you say? I'm sure you know a lot of people and could get me in somewhere, right?
Yikes, I'm beginning to wonder if this will be as easy as I thought. While you likely won't read this, I am certain your response would be much like those who agree with you: "Get your own job. Don't expect a hand out!"
That's such an interesting retort. A savvy businessman like yourself is certain to understand the importance of networking to any job search. In fact, statistics show that 80% of jobs are nabbed thanks to networking. You've likely landed a few jobs throughout your career thanks to networking, (you know, like those lobbying jobs after being in the House?) right? Networking is surely of the utmost important to your campaign as well; how else do you expect votes and campaign funds?
So, Mr. Gingrich, let me tell you a little more about myself to develop that all-important networking relationship:
My name is Del Phillips. I'm 34 years old, I'm a white male and I come from the heartland (Illinois). Sounds like your ideal voting demographic, eh? I've worked hard since the age of 14, holding down two part time jobs while in high school (two paper routes in the morning and a part time, after school job) and working throughout college. I don't come from a wealthy family, so this was necessary if I wanted any of the things most teenagers wanted during my youth.
After college, I worked hard and never had any issue finding a place in an organization....until 2009. Just as the economy tanked I, like millions of others, lost my job. Normally this wouldn't be a big deal either, but with scores of people applying for the same position my chances began to slim.
To make a long story short, I would go from having perfect credit (820+), a $72,000/yr job, a condo (homeownership!) and an all-around happy life to foreclosure, bankruptcy (major credit hits) and 22 months of unemployment. What's more is that after those 22 months, I landed a great position only to lose it six months later as a result of the continued lagging economy.
You and the people in your camp keep referring to people like me as "lazy" and tell us to "quit whining" and "get a job." Would you like to see all the resumes I've sent out? Would you like to know the number of networking events I've attended? With a name like Gingrich, I'm sure it's always easy to find a job, but with a name like Phillips, I simply blend in with the crowd.
Another comment I hear a lot from your side of the isle is that the unemployed enjoy being unemployed; They get to sit at home and collect a government check. Can you honestly believe that I would prefer the roughly $18,000/yr income I receive from Unemployment Insurance benefits over the previous $72,000/yr I was earning? If you believe that is true, I've got a bridge in Alaska to sell you.
Most, if not all, of the things you, Mr. Cain, Mr. Hannity, Mr. Limbaugh, Mr. O'Reiley and others say about the unemployed are misinformed. Furthermore you don't contribute to solutions; you simply belittle and alienate your fellow citizens, those whom you wish to swoon for a vote. In fact, you are even contributing to the death of many Americans. Yes, DEATH!
Job loss, long term unemployment, losing one's home, having to file for bankruptcy, questioning one's next meal are all very shameful events. Our culture preaches self-reliance. But if that's not possible when there are more people without jobs than jobs available, what happens? The unemployed deal with rejection every single day. This rejection turns to shame and shame leads to isolation, which can ultimately turn to a complete shut-down, including suicide.
I encourage you to read this site which contains many stories of the unemployed, including those who have attempted suicide as a solution to their desperation.
Do you think this is acceptable, Mr. Gingrich? Do you think belittling and calling names to desperate Americans is helping to get them back to work? Do you think calling people who have been sending out hundreds of resumes a month, attended networking events, job fairs "lazy" is a way to encourage them during a difficult time? Do you think it's alright that many feel their only hope is to turn to suicide and end it all? I don't!
We have to stop shaming people who are trying to move forward with their lives. In fact, we should be helping people to "Reframe Shame." That's why I'm an aspiring keynote speaker who wants to help those experiencing shame in our daily lives from a host of events including unemployment, bankruptcy, foreclosure and much more. One way I do that is to tell people that filing for bankruptcy is a new beginning, a lesson to learn. Did you know that your hero Abraham Lincoln filed for bankruptcy before becoming President? Did you know Walt Disney also filed for bankruptcy with his first film company?
These are excellent examples of how tough times may fall on you, but this adversity may just be a stepping stone to a greater success.
Mr. Gingrich, that is the type of rhetoric I'd like to hear from my government leaders. I'd like to hear encouraging and supportive language that promotes success in all Americans.
So Mr. Gingrich, now that we know one another a little better, what do you say? How can we network to get me working? I'm available to speak at your association gigs or political gigs. Certainly my first-hand experience with long-term unemployment, foreclosure, and bankruptcy can help shed light on the "average" American you so desperately need to help you win this election. You and your party could gain such valuable insight. Heck, it might even help others like you change your way of looking at their fellow citizen in trouble. Together we can work to help Americans Reframe Shame and get America's economy working again!
Check out my website to learn more about me and how to contact me for an upcoming event. I look forward to your favorable response.
Best wishes to you with your campaign and have a great Thanksgiving,
Del Phillips
PS: Thanksgiving is a great example of how strangers (Native Americans) showed compassion to desperate individuals (American colonists) in a tough time. Maybe we should draw from that example this holiday season.
Throughout this primary season, you've been pretty vocal about a lot of things. Most important among them has been your fierce criticism of the Occupy Wall Street protesters across America. You've also been rather aggressive in challenging President Obama to "western style" debates that would be without a timer or arbitrator.
Today, I offer a challenge to you!This is really a no-brainer challenge, one I'm sure you'll win: Get me back to work.
You and your ilk have recently criticized the OWS protesters and told them to "take a bath" and "get to work!" Well, I'm ready! In fact, I bathe daily, so no worries there. And here's the added bonus: I have a Master's degree, 10 years of work experience and even lived abroad in France, like you! As a result of these studies, I'm even fluent in French, which should be a terrific asset for any corporation now that we've built such a "global" economy.
So, what do you say? I'm sure you know a lot of people and could get me in somewhere, right?
![]() |
| guardian.uk |
That's such an interesting retort. A savvy businessman like yourself is certain to understand the importance of networking to any job search. In fact, statistics show that 80% of jobs are nabbed thanks to networking. You've likely landed a few jobs throughout your career thanks to networking, (you know, like those lobbying jobs after being in the House?) right? Networking is surely of the utmost important to your campaign as well; how else do you expect votes and campaign funds?
So, Mr. Gingrich, let me tell you a little more about myself to develop that all-important networking relationship:
My name is Del Phillips. I'm 34 years old, I'm a white male and I come from the heartland (Illinois). Sounds like your ideal voting demographic, eh? I've worked hard since the age of 14, holding down two part time jobs while in high school (two paper routes in the morning and a part time, after school job) and working throughout college. I don't come from a wealthy family, so this was necessary if I wanted any of the things most teenagers wanted during my youth.
After college, I worked hard and never had any issue finding a place in an organization....until 2009. Just as the economy tanked I, like millions of others, lost my job. Normally this wouldn't be a big deal either, but with scores of people applying for the same position my chances began to slim.To make a long story short, I would go from having perfect credit (820+), a $72,000/yr job, a condo (homeownership!) and an all-around happy life to foreclosure, bankruptcy (major credit hits) and 22 months of unemployment. What's more is that after those 22 months, I landed a great position only to lose it six months later as a result of the continued lagging economy.
You and the people in your camp keep referring to people like me as "lazy" and tell us to "quit whining" and "get a job." Would you like to see all the resumes I've sent out? Would you like to know the number of networking events I've attended? With a name like Gingrich, I'm sure it's always easy to find a job, but with a name like Phillips, I simply blend in with the crowd.
Another comment I hear a lot from your side of the isle is that the unemployed enjoy being unemployed; They get to sit at home and collect a government check. Can you honestly believe that I would prefer the roughly $18,000/yr income I receive from Unemployment Insurance benefits over the previous $72,000/yr I was earning? If you believe that is true, I've got a bridge in Alaska to sell you.
Most, if not all, of the things you, Mr. Cain, Mr. Hannity, Mr. Limbaugh, Mr. O'Reiley and others say about the unemployed are misinformed. Furthermore you don't contribute to solutions; you simply belittle and alienate your fellow citizens, those whom you wish to swoon for a vote. In fact, you are even contributing to the death of many Americans. Yes, DEATH!Job loss, long term unemployment, losing one's home, having to file for bankruptcy, questioning one's next meal are all very shameful events. Our culture preaches self-reliance. But if that's not possible when there are more people without jobs than jobs available, what happens? The unemployed deal with rejection every single day. This rejection turns to shame and shame leads to isolation, which can ultimately turn to a complete shut-down, including suicide.
I encourage you to read this site which contains many stories of the unemployed, including those who have attempted suicide as a solution to their desperation.Do you think this is acceptable, Mr. Gingrich? Do you think belittling and calling names to desperate Americans is helping to get them back to work? Do you think calling people who have been sending out hundreds of resumes a month, attended networking events, job fairs "lazy" is a way to encourage them during a difficult time? Do you think it's alright that many feel their only hope is to turn to suicide and end it all? I don't!
We have to stop shaming people who are trying to move forward with their lives. In fact, we should be helping people to "Reframe Shame." That's why I'm an aspiring keynote speaker who wants to help those experiencing shame in our daily lives from a host of events including unemployment, bankruptcy, foreclosure and much more. One way I do that is to tell people that filing for bankruptcy is a new beginning, a lesson to learn. Did you know that your hero Abraham Lincoln filed for bankruptcy before becoming President? Did you know Walt Disney also filed for bankruptcy with his first film company?
These are excellent examples of how tough times may fall on you, but this adversity may just be a stepping stone to a greater success.
Mr. Gingrich, that is the type of rhetoric I'd like to hear from my government leaders. I'd like to hear encouraging and supportive language that promotes success in all Americans.
So Mr. Gingrich, now that we know one another a little better, what do you say? How can we network to get me working? I'm available to speak at your association gigs or political gigs. Certainly my first-hand experience with long-term unemployment, foreclosure, and bankruptcy can help shed light on the "average" American you so desperately need to help you win this election. You and your party could gain such valuable insight. Heck, it might even help others like you change your way of looking at their fellow citizen in trouble. Together we can work to help Americans Reframe Shame and get America's economy working again!Check out my website to learn more about me and how to contact me for an upcoming event. I look forward to your favorable response.
Best wishes to you with your campaign and have a great Thanksgiving,
Del Phillips
PS: Thanksgiving is a great example of how strangers (Native Americans) showed compassion to desperate individuals (American colonists) in a tough time. Maybe we should draw from that example this holiday season.
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Monday, October 31, 2011
Today's Reframe: Corporate America
Last Friday I attended an orientation session for a program into which I've recently been accepted. The program is run through Chicago Career Tech and supported by large corporations, the City of Chicago and the State of Illinois. Although I haven't even started the program yet, this orientation was a real turning point for me on my unemployment journey. I felt it important to share with everyone out there, especially those going through this same journey.
This is a program initiated by organizations like Microsoft, Charter One and other large corporations about 2 years ago in the middle of the Great Recession. According to the presenters, these business leaders realized a real need for a program like this as a result of a labor shortage.
Labor shortage, you ask? But, there are millions unemployed and looking for work, you say! Yes, but many of these organizations cited statistics of large numbers of unfilled vacancies within their organizations. These position remained unfilled not because there aren't millions of people looking for jobs, but because the millions unemployed do not posses the skills necessary to do the job. There is a huge skills gap for so many unemployed people despite the organizations that crave to hire more employees.
This explanation was a real positive moment for me. Throughout this Recession, and my unemployment journey in particular, there has been a lot of negativity: rejection to the thousands of resumes sent out, rejection from in-person interviews, politicians who blame the unemployed for being unemployed, articles about how companies are actually advertising that the unemployed "need NOT apply" and, most damaging, my fellow employed citizens who comment on stories all over the internet calling us names like lazy, mooching off the system and so on...
Having worked since the age of 14, sometimes at 2 jobs, having gone to college and having done all the 'right' things, everything has felt so incredibly wrong.
But to hear organizational leaders recognize that the unemployed are not lazy, but ready and willing to work given the right opportunities and given the skills to do the jobs that are in demand actually got me choked up. I felt that someone "got it." There are companies who 'want' me. All the companies out there don't scoff at something that was beyond my control. They realize that we, the unemployed, are eager to get back to work and get on with their lives! It was inspiring to hear examples of companies that took on 40+ interns during the program and then offered all of them jobs at the end of the program!
So I begin my program in just over a week in Social Media Marketing at Tribeca Flashpoint Academy. At the end, I am expected to obtain certifications in Google Adwords and SEO. I'm so very excited because I love social media and I have always loved marketing. I am also excited because this is the "now" and this is the future. I'm excited that I'm entering a (hopefully) stable area of the market so as to avoid ever having to endure unemployment and all its challenges again.
On a side note, this program is being constantly evaluated and studied across the country. It is being looked at as a potential model for other states to get people back to work.
I would like to encourage you, especially if you are in Chicago, to mention this program to your company. Your company can be part of the solution to getting America working again. They may not be able to hire a student after the program, but the experience gained during the internship will be so important to the student and a stepping stone to get them back to full time work. Please consider passing along this site to your boss or HR department and encourage them to participate!
This is a program initiated by organizations like Microsoft, Charter One and other large corporations about 2 years ago in the middle of the Great Recession. According to the presenters, these business leaders realized a real need for a program like this as a result of a labor shortage.
Labor shortage, you ask? But, there are millions unemployed and looking for work, you say! Yes, but many of these organizations cited statistics of large numbers of unfilled vacancies within their organizations. These position remained unfilled not because there aren't millions of people looking for jobs, but because the millions unemployed do not posses the skills necessary to do the job. There is a huge skills gap for so many unemployed people despite the organizations that crave to hire more employees.
This explanation was a real positive moment for me. Throughout this Recession, and my unemployment journey in particular, there has been a lot of negativity: rejection to the thousands of resumes sent out, rejection from in-person interviews, politicians who blame the unemployed for being unemployed, articles about how companies are actually advertising that the unemployed "need NOT apply" and, most damaging, my fellow employed citizens who comment on stories all over the internet calling us names like lazy, mooching off the system and so on...
Having worked since the age of 14, sometimes at 2 jobs, having gone to college and having done all the 'right' things, everything has felt so incredibly wrong.
But to hear organizational leaders recognize that the unemployed are not lazy, but ready and willing to work given the right opportunities and given the skills to do the jobs that are in demand actually got me choked up. I felt that someone "got it." There are companies who 'want' me. All the companies out there don't scoff at something that was beyond my control. They realize that we, the unemployed, are eager to get back to work and get on with their lives! It was inspiring to hear examples of companies that took on 40+ interns during the program and then offered all of them jobs at the end of the program!
So I begin my program in just over a week in Social Media Marketing at Tribeca Flashpoint Academy. At the end, I am expected to obtain certifications in Google Adwords and SEO. I'm so very excited because I love social media and I have always loved marketing. I am also excited because this is the "now" and this is the future. I'm excited that I'm entering a (hopefully) stable area of the market so as to avoid ever having to endure unemployment and all its challenges again.
On a side note, this program is being constantly evaluated and studied across the country. It is being looked at as a potential model for other states to get people back to work.
I would like to encourage you, especially if you are in Chicago, to mention this program to your company. Your company can be part of the solution to getting America working again. They may not be able to hire a student after the program, but the experience gained during the internship will be so important to the student and a stepping stone to get them back to full time work. Please consider passing along this site to your boss or HR department and encourage them to participate!
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