Tag Archive | debt ceiling

NYT: This Week in Small Business: 1,000 New Bankers

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(This post originally appeared on the New York Times)

The Big Story: Four More Years

At his inauguration, President Obama delivers a rallying cry for active government. Rick Newman says the president has given a gift to the stock market. This blogger believes that the speech made things a lot more certainfor small businesses. Here’s the whole speech in just three minutes. These are 22 of the most fabulous Beyoncé moments from the inauguration (and one that’s not-so-fabulous). The president’s daughters seemed to enjoy the day, too.

Finance: Bank of America Hires 1,000 Bankers

Investment professionals are anticipating an influx of income and growth-hungry mom-and-pop “retail” investors. Bank of America reached its goal of hiring 1,000 small-business bankers and extended nearly $8.7 billion in new credit to small businesses in 2012. Companies are keeping stockpiles of foreign cash in the United States. Erik Sherman says you should be wary of any Web site that claims to enable crowdfunded public offerings.

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NYT: This Week in Small Business: Nothing Magical

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(This post originally appeared on the New York Times)

What’s affecting me, my clients and other small-business owners this week.

The Debt Ceiling: Spare Change Anyone?

As the debt ceiling deadline approaches, a new solution to the problem is floated: letting the Treasury Department mint a trillion-dollar coin. A Republican congressman tries to thwart the idea, but the White House didn’t rule it out. Felix Salmon explains why it won’t happen: “What we’re talking about here has a kind of cold war mutually-assured-destruction mentality.” Neil Irwin says the coin idea is “idiotic,” but says, “The fact that it is idiotic is kind of the point.” Edward D. Kleinbard thinks that issuing scrip could be another workaround.

Outlook: Nothing Magical

A popular small-business sentiment index continues to register low readings, and a Staples study finds that many small-business owners are feeling overworked. But according to another study, most small-business owners are excited about the year’s prospects. A new survey from Visa finds that the top areas of concern include the cost of health insurance, attracting new customers and rising taxes. Adam Ozimek believes there is nothing magicalabout small businesses: “We would be better off if people would stop romanticizing small businesses and instead focused on the outcomes that really matter, like economic growth and unemployment.” Sam Barry and Kathi Kamen Goldmark say that the Soup Nazi is one of the six types of business owners.

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Fox Business: Welcome Congress, Now Take a Year Off

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(This post originally appeared on Fox Business)

A new year and a new fiscal cliff dominated small business tweets this week.

@kristenschaaled

So far best thing about 2013 is you can pull the tail around of the last 2 in 2012 to make it a 3 when you write the date wrong. Good tweet.

@RaccoonPun

Changed my iPod name to Titanic. It’s syncing now.

@DaveKerpen

Face everything. Avoid nothing.

@ValaAfshar 
By 2016, 40% of new IT investments are going to be where the Line of Business executive is the decision maker.

@levie
This year, $3.7 trillion will be spent on IT. Instead of collecting taxes, the US government should just sell enterprise software.

@smoothsale
When prospects speak, listen for underlying problems.

@marthaheller 
#CIO Quote of the Day: “If your #CFO asks you to troubleshoot his computer, solicit his help with your next tax return.”

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NYT: This Week in Small Business: YOLO!

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(This post originally appeared on the New York Times)

The Deal: A Not-So-Grand Bargain

A “fiscal cliff” deal is reached and after all the drama this chart sums up the impact. One provision could head off a doubling of milk prices. Here’s what’s in it for small businesses. Jared Bernstein says the fiscal debate has killed the economic debate. Kevin Drum says we don’t have a spending problem, we have an aging problem. One blogger believes that the biggest beneficiaries of the resolution are puppies. Bruce Bartlett explains when the deficit will be fixed. John Boehner is re-elected House speaker. Hugh Hefner marries. These are the four business gangs that rule the country. Next up: the debt ceiling.

Happy New Year: Small-Business Predictions

This infographic shows what’s in store for small businesses in 2013. The editors at Springwise.com offer 10 business opportunities for the coming year. Here are 12 buzzwords you can expect to hear. Here are 20 quotationsyou can use to prosper. Here are 21 predictions from social media experts. Both Constant Contact and Marla Tabaka spot marketing trends they think will affect small businesses, including “the rise of MomPopolies.” Here are sixe-mail marketing and four hyperlocal trends to watch. Oh, and here are eight major tech predictions and four predictions for your finances. A Pennsylvaniapsychic counselor predicts an avalanche that “will destroy many lives.” Amanda MacArthur suggests 12 worthwhile small-business resolutions. Here are the top five reasons your employees will quit. This video recaps 2012 in four minutes.

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Inc.: Let’s Jump Over the Fiscal Cliff (in a Year)

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(This post originally appeared on Inc.)

My dad always said that a government that does as little as possible is the best kind of government.  (My dad also voted for Ross Perot, so please don’t think that he was some kind of genius).  But, when it comes to the “fiscal cliff” drama playing out in Washington, what happens if the government does nothing at all?  What impact does that have on your business?  And is it that bad?  Maybe not doing anything at all is the best thing for all of us.  Because it’s not always about what the government does, just when it does it.

As so excellently summarized here, if the government does nothing about the coming fiscal cliff, then our short and medium term budget deficit problems effectively go away.  Our government’s annual deficit, which has been running over $1 trillion for the past four years, would be cut in half.  Our $16 trillion national debt, and particularly the portion of that debt held by the public, would be reduced to a more manageable level over the next decade.  Mandatory cuts in defense and domestic programs would force changes, better efficiencies, and yes–gasp–layoffs.  Reduced funding of entitlement programs would require hard reform decisions, like raising eligibility ages and cutting benefits for those less needy.  Most economists agree that the combination of across-the-board higher taxes and cuts in spending would cause another recession.  Unemployment could spike back to 9% or 10%.

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