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Q: Tell us how Evalueserve started: How did you and how did you do together for business?

Alok Aggarwal: I basically came to the United States in 1980 and got my Ph.D. in computer science at Hopkins in 1984, joined IBM Research Division in 1984 and then was there for 16 years, and I began IBM Research Lab in Delhi and was appointed Director 1997th This was the time when the dotcoms were taking off, it was one of the strategies that we should open a laboratory in India, because we had lostResearchers dot-com start-ups in the U.S.. So I got the charge to a laboratory in India to open up and in 1998, I moved the family to Delhi, I started in the laboratory and in April 1998, it rose to about 35 doctors and 35 masters.

Marc Vollenweider: I am 100% Swiss, graduated as an electrical engineer with the Swiss Federal Institute of Technology in Zurich. Then I joined McKinsey, a greenhorn, as a business analyst, I spent a year at McKinsey - that was 1990 - then in 1991 went to INSEAD inParis for my MBA. Then I rejoined McKinsey and remained in Switzerland and was appointed 1998 to the partners. Then in 1999 I moved to India with McKinsey as a partner in the consulting practice, where I was responsible for the health care practice, and many other things. And then I was also responsible for the so-called McKinsey knowledge center, which was then led an initiative pioneered by Rajat Gupta, the then head of the global consultancy McKinsey.

The goal was primarily towith a research hub that consultants would support across the world with high-speed research can occur. To say a question - how many companies there with them, and these criteria - would send an email to India and some busy bee working on it and sent the answer in a ZIP file, and then had in the morning had come into back office and you have the answer for you. We are up from an initial group of 12 and that up to 120 MBA graduates in the years 1999 and2000th And that was a pure captives, catering only internally to McKinsey. And then I realized that this is an interesting third-party business model, so that is could be why in March / April 2000 I started thinking about my own business.

AA: We met interesting because of a birthday party for the children who wanted the American Embassy School in Delhi. That was, I think, early May 2000. If we are to talk we realized that he was thinking about an aspect ofResearch and Analysis, and I thought of another aspect that is so, why not us an undertaking that all types of research and analytical services, and other high-end service offering, with the knowledge related to know-how? So we made two several times during this period - July / August 2000 - IBM and McKinsey and ended in November 2000 and began Evalueserve (which stands for "Evaluation Services") stands in December 2000.

Q: When you set up one of you it was a McKinsey moneyinvolved?

MW: No, there was a clean cut. Alok and I have the money to our own money, and there is no institutional relationship of McKinsey. We are in private hands, and we believe the great majority, and then we have a Swiss private equity investor, you can call him a SUPER ANGEL ... So in the early years 2001, 2002, 2003, we had to grow a little money, because we became profitable in 2002, which actually pretty good, but if you then at a rate of 100% to grow the largestArticle depreciation is not really office space or computers: it's claims. Since you will be pre-financed, essentially, your earnings because the cost for the people in your balance sheet, they are there, but you do not have the revenue. You have to balance, and then grown at 100% and you need money, although they are profitable. So we took some money into very small pieces, and we had five mini-rounds - maybe even micro-rounds, you know, here $ 100,000 $ 100,000 have: --Over the next five years. We have not taken money since 2005.

AA: Seven and a half years later, we have approximately 2,500 employees worldwide. Of these 2500, about 60 of our customers are engagement manager, so that our business development, we do sales, and with the right hand we keep our customers and with his left hand, we keep our professionals in our back-end research. Because we are keenly interested in customer delivery and client management, all 60 works by participating in home offices, wehave around 28 in the U.S., two in Toronto, Canada, about 25 in Europe, of which 11 to 12 years in the United Kingdom, the United Kingdom, our second largest area is a revenue perspective. Then we have one in Shanghai, one in Hong Kong, in Singapore, one in Australia and one in India. For example, that our team of about 60 people.

Our back-end offices, the real brick and mortar offices in China, Romania, India and Chile - as "BRIC" We call them "CRIC and mortar" ...India was the first one we opened in December 2000, we currently have around 2130 people in India. China was second with 160, we offer services in Japanese, Chinese and Korean languages and knowledge-building services then in these three languages. In Chile we are in Valparaiso, about 45 minutes from Santiago, we offer services in Spanish and Portuguese, from there, and we cover the Latin American market and the Hispanic market in the U.S., sincegrowing quite fast - it is about 10% of GDP in the U.S. right now and is expected to double within the next 20 years. This helps us not only in these languages and for different countries and cultures and customs, it also helps us in providing 24 / 6 average, than a man who, during the night-time in India or China, we are able are transferred to - in a smooth manner - Work to Chile.

Romania is particularly interesting for us because the place where we are, Cluj is a university town withnot a few people who speak German very well - so we can cover to Germany, Austria and Switzerland, very good. Also we can cover Eastern Europe, particularly Russia, Ukraine, Azerbaijan and so on, in Romania, Poland, Hungary, the area is still pretty fast with the oil outflow from Russia and some other eastern states, and therefore expected to be not very well. So with that we are basically providing knowledge and services, most of them research and analysis, some of themare middle-office work, but all are knowledge services for banks, pharmaceutical companies, health care, technology, media, telecommunications, and so on.

Q: What do you think the biggest challenges that has come over you during the term of the transaction have, and how you have managed to have passed them?

MV: I think it's pretty simple. These 2,500 people must be employed. Marketing and Sales, that the biggest challenge, always, at first - we call it the "double-gap" - at firstthan we are in the people we went in and said "hi this Evalueserve is to do justice, and she said:" Oh, so you want me to outsource my strategic research? " And the gap was number one, because no one had done before: it was a totally new concept, nobody had any idea that this could happen. So that was a big hurdle.

AA: Of course, there did not exist this kind of offshore outsourcing kind of work, time frame until the 2000, 2001. The only company that did it was McKinsey KnowledgeCenter, left more than 120 people at Marc, American Express was doing a certain amount of credit analysis, probably 100 people, and General Electric, from his imprisonment was there maybe 200-250 people, the map analysis. Thus the total number of people at the end of 2000, when we started was only about 500-1000. This industry has grown over 75,000 in India alone, if you are looking for the entire knowledge services and knowledge process outsourcing industry, it has been a fairlystrong growth in a relatively short period of time. And of course, comes with its own challenges, because people do not like robots, the ability, knowledge services industry demands and the knowledge process outsourcing requires a relatively deep and detailed knowledge people need to get a sense of -- They learn by experience and partly because the projects.

MV: And then the second item she said, "and do it from India?" and then we must say: "Yes,it works really well from India. "This is really the double abyss. And in order to overcome this, to start a new concept that was the challenge. And then the next challenge was to build a scalable sales force. You know, now We have about 50 vendors, and these are obviously very expensive people. So we need a model to find the truly scalable and was economically feasible. And I think the second one, really, really big challenge.

Q: How do you go in the recruitment of thosespecial skills?

MV: Now we know what works. How would these people, for example, an ex-Reuters background or an ex-research background, where they sell themselves for research - would be sellers in the services-for-research, I call it. So those are the kind of people that work very well. Then there is perhaps a little remote, or people who have worked in their respective industries, say in marketing departments or so, and have an angle in the sale - who wants to move inTurnover. So one can say that the common elements that sales angle, there is an understanding of labor, professional services, such as angle, and then there is an industrial corner, and when these three elements work well together, which we then generally successful salesperson as: usually aged between 30-40 years, and roughly in that area of performance.

Q: What makes Evalueserve from the competition?

AA: Four or five things. One of them is our geographic reach in thisTime. We are a more global organization, as I mentioned earlier, we can provide services almost seamlessly 24 / 6, without the employees have the night shift or the night shift. The second is that with the fact that we have 2500 people, we are able to get into areas that other people might not cover, so we have a pretty strong vertical for example, in oil, gas and utility companies now I would say that most of our competitors do not have.

The third is that- I would say that serendipity as I already explained how Marc and I are not together, that we had vision of a great brand, it has happened only by chance more than anything else - we are about 2 ½ years ahead of the competition . We were the first to base this whole KPO services company to define it and restart it as a third party in a very well-defined way, and fortunately we still have, I think I have a two-to three-year benefit compared with most of our competitors. I think the patent drafting,intellectual property rights, we often see some of the comments from our competitors and we say, "Yes, we make the same kind of comments in the years 2005-2006". So we know at what level of evolution, and in what condition are the evolution of these people in.

MW: I think it is a portfolio of services that are very unique in our case, we are purely based on research and analytics, so we do not do business process outsourcing, IT outsourcing, or to do nothing of the - our 2500 people onlycustomized research and analytics. This is how we differ from, say, an Infosys BPO or Genpact have also attempted to have an activity in the KPO space. But we are pure-play. We are doing just that - of course with the required concentration. There are some niche players, and we are broader than those niche sectors.

And I think that our portfolio of services is financial analysis, what kind of space from investment banks, hedge funds, the type of area is, research into companies that moreMarkets, which do what players do, what companies do these kinds of issues, market research, which is more phone interviews, then the statistical data analysis software packages you use to analyze large amounts of data, and finally there Technical analysis, it is about patent analysis. This is a unique offering that much in our case, that have very few other people act synergistically.

Q: What constitutes a "qualified KPO"? And there are no limits to what canto externalise?

AA: It is a very interesting thing. As we are using this word, I think we had a special significance. We are very rarely the word KPO in discussions with our customers, because for me it is a word like "love" everyone loves "all the others, but what does the word" love "mean?

What happened was when we started, there was a lot of call centers and BPO companies who were doing low-end finance and accounting, low-end HR outsourcing, credit card processing work andso on. In 2001, 2002 - in 2003 - some from the media and journalists to ask ourselves what we have, we would say that we are providing research analysis, knowledge, analytical services from India, and she would always say, "Oh, BPO're so different - is that a fair way of saying? "And we would say" that's true, but you know, knowledge services differ fundamentally from exactly what a BPO.

Marc and Ashish [Gupta, Evalueserve CCO and discussed India Country director] about it in 2003,and they basically said: "We really are a KPO" because knowledge is part of what we do and the more we are able to impart knowledge, the more we can calculate - considering that BPO fees are fairly well defined, because the processes and are defined by the operators or help desk, the calls are answered, they can not really charge much more. But here, when you wake up the value chain - if the person can ten years of experience in the telecommunications and the ability to convey a deeper knowledge - also from India, weFee $ 75 - $ 80 per hour. In the U.S., the corresponding rates are like $ 400 per hour.

Sun said in August or September 2003 one of the journalists from the Economic Times, the usual question, Ashish, Ashish, and said, "Do you know that we have a KPO, not a BPO," and he told me later. The journalist did not lift it completely, he wrote an article about him and he said, "Evalueserve talks about being a KPO" and I actually - a researcher at heart started doing research - and weFinally, define what KPO was and how great would be the size of the market - about $ 17billion worldwide - outsourcing to low-wage countries like India and the Philippines and China. I gave a talk at Bell Communications in New Jersey in December 2003 and we wrote a paper in April 2004, and fortunately, within a year the media in India came to the word of KPO and it spread like fire.

The difference between KPO and BPO is basically the following: BPO, the process has alreadywell defined, such as how to go to a specific call to answer, what are the stages of escalation, it would, and so on. In KPO on the other hand, there is no such process. Therefore you have to go to a patent attorney, for example, and ask the patent attorney, "we want to take a piece of your work and it was not from India," and he will say: "Are you kidding?" There is no way that you do can. The person who helps me out is sitting next to each other and we discuss the attribution of at least 3 or 4 timesone days, which is an art, not science, and there is no process involved. "

The first thing a typical KPO project is actually the person to convince, and to take part in this art, and make a process so that it to India, China, Chile, etc. can be moved, but because it can never completely removed - yes, there's a part of it, the art, that is a patent, the "rock star" or the equity research analyst, who has "Rock Star", ishead - that 15% -20%, still in his head, and he has to come back and be completed for the project that 15% -20% of the person still needs to be completed and will be truly competent in this country or that do specific domain. Thus x versus one hundred minus x, as we call it, where x percent will be done in the U.S. or the UK, and 100 minus x is in the Philippines or India or where ever done, what distinguishes a BPO from a KPO.

Well, first, there is noProcess that can just be thrown on her back and, secondly, knowledge is an important aspect of it, the higher one moves up the knowledge of the chain more, in fact, you can charge for the project, and thirdly, the subtleties of care - advice , reports, etc. - which could be anywhere from 5% would be up to, I say, in some cases 40%, would have made of the front-end person.

Q: Where most of your research going? Is the direction that changes with time - there are several, for example,patent-based technology research now?

MV: It grows proportionally. If you look at the breakdown, we would do about 40 percent of our work in financial analysis, for stock analysis, for example, investment banks or funds, about 25 percent in the area of business research, which is rather "what to do in this market, here is a personal newsletter, here is a company profile, "this kind of work, then we would do about 12 percent of the market, and thethe same size as intellectual property, and the rest is data analysis and knowledge technology. In view of the client division, we have to say again about 40 percent in the financial industry, as I would, 20 percent are professional services - consulting company is to research, law firms - and the other companies.

Q: And that's changed now?

DS: Not really, no - it's actually fairly consistent. It grows more or less in line. It's actually quite surprised, it's not reallychanged. We thought that the investment would research a little bit because of all these sub-prime crisis and are suffering so forth, but that's not the case at all, in fact, the pressure increases awarded to these companies.

Q: So what is the next big hit KPO sector?

AA: I think pharma is very susceptible to them. The problem is that the pharmaceutical sector through is that the cost of producing the drug, and for that purpose by the FDA in the U.S., has been approved, for example, took placerising at an enormous pace. Last year, for example, only 26 approved drugs and $ 39 billion had been spent in research, development and approval. At the same time, the population in most developed countries, aging has been such that it became more and more that the drugs, but it's not so much money that can be used on them. Whether the U.S. moves into a socialized medical system is becoming increasingly irrelevant Days Go By: It's basically already socialized to a great extentwith Medicare and Medicaid insurance programs.

So, these pharmaceutical drug companies must do two things. One, they have to sell to other markets to which India, China and other emerging economies will find on the one hand - but also the people here do not have that kind of purchasing power, so they have to price their drugs lower and the second is that they have somehow figure out ways to reduce the cost of their medicines. First to invent, and then moreapproved - so very, very mature field, would be in the KPO to their advantage.

Q: How do you keep changing the driver behind outsourcing and what are the biggest threats?

MV: OK. Some people say that costs are rising: an increase in salaries and whatever. But in this case, I have a relatively simple answer. I say in our case, we have a very simple strategy: we are in the five lowest cost, highest-skilled locations in the world. This means that by definitionI can prove mathematically that I will always have a cost advantage. Because, right, you'll always travel at the lowest cost, highest skill are locations. So that's going to be OK, I guess.

But the biggest challenges will be to add value for customers. This is not a threat, it is more of a challenge, because customers want more value-addition, more thinking, more - especially in our case - insight. You want productivity, they want global reach, they want 24x5 ... So when we see howThe service level has in recent years, it developed was amazing. Today I can do things that are here completely inconceivable just two years ago. So the speed with which things have developed, is always, actually. It is not only linear, it is even increasing.

The second point is, I think the war for talent. The demands that people are relying on outsourcing players means that they have to train on the ability to more people and develop, and that means you haveto have very, very solid training processes - we have such an initiative called the care of people other career track models, work-life balance, and contains many things. First this is done is crucial. The third issue is leadership. Especially in the new economies, you find that it experienced very little guidance available, so you basically have very good coaches individuals in leadership positions that they otherwise never be in. We have some peopleThat are older than 30 years and carry over 120 people. Now, when I was that age, I carried around 15th So I think that leadership from the inside is creating an important element.

Other than that I do not think it significant challenges, because we tend to say in general than to the players in this space should be working in terms of growing market - because the biggest part of the market has not even been addressed, the work is still done in the company - or may not bedone! I mean the people who work with us the best by actually using us for growth, they use us to reduce costs. Very interesting, you know? They come with new ideas and they use us to accomplish their growth. And these are the people who are really very good. Perhaps the war for talent thing was probably the biggest threat, because if the company did not do that well, they will lose. That's the thing.

Q: Finally, India dominates the offshore outsourcing market and has done so for some time.Do you believe that market dominance in the short to medium term is unassailable, and if not, why not?

AA: India has always been so quick, both in terms of outsourcing, but it is equally important in the area of national industry that is growing very fast. Both industry and outsourcing exports of the domestic industry have the same exposure, where the same or similar kinds of people, and therefore the wages are higher and turnover is quite large. I think even greater than wage increasesThe risk is to wear what we call a "job-hopping".

I think one of the biggest challenges - and unfortunately, because these people who are young, they do not really see it is at this point - is that India will face this cultural shift that seems to be the case among the young people who young people who are the conclusion, just change jobs in an instant a hat - and I would go further, perhaps even without the drop of a hat. You say, "ok that's boring, Let's Moveor "or" I'm always 15% of the next company annual increase of Evalueserve let me, let me raise the float to my resume, get another 15% increase by another company. "

What they do not realize that every time it from one job to another, the last three months, they are not actually doing any work for Evalueserve. And the first three months, they learn the culture and the way the work done on the other society. And so six months of their lives will be wasted when it does notreally learned a lot, and since this is all about knowledge and learning, they are screwed. They do this job-hopping of four or five times, and when they lost more than seven years in the game, they have about two years throughout the process. They have basically thrown completely out of the market.

Because when we look later in their lives, even though we tell her resume to a client, we were unable to send that person uses, the likelihood that the customer will refuse tosay: "You can this person for my job, he seems to be changing jobs all the time, I do not know what kind of knowledge he has, what kind of person he is," and that as a whole - and always again that is not only particularly KPO is about the Indian export industry is generally true that export services industry that has seen IT outsourcing, BPO and KPO exports - probably the biggest challenge for Indian exports services industry.

Everyone has concerns about the large number of disability situations, which have as a result of this spear recession. Many have to decipher on a roller coaster ride of trying, the good news and / or worst news about the duration of the economic crisis. In the last few months there have been few rays of hope that the economy tries to disturbances were the whirling to stop the country is in a depression. The same hope was dousedwith bad news from other areas, driving the money glitch recession. As you know, the economic disadvantages very clearly, if the financial industry nearly collapsed last year.

The financial loss caused to disappear not just money from savings and investments, rose to a rapid decline in the number of jobs that were available. It now appears one years later, after the help of hundreds of billions of dollars from the federal government (taxpayers) the financialslowly begins to turn. However, unemployment is currently at 9.7 percent, which is a 26-year high that has the potential to raise more before falling.

During this period, the bottom fell out of the housing market so that many in or near foreclosure, and many other homeless creates an additional handicap. Those who have managed to keep their homes is diminishing equity value to 41.9% in the first quarter and rising experience to 43.1%in the second quarter of this year. But this too is about 19% less than the equity value was in 2007 when this money glitch embarked recession on us.

Although the statistics of our country know it is important that a person must also go where you stay focused. I like the quote from "Look at the end of the beginning", which is a representation of a quote verses and sayings of Sir Winston Churchill, "Now this is not the end. It is not even the beginning of theEnd. But it is perhaps the end of the beginning. "That is, imagine it as a layman, that life is important for today, but it is also important to focus on an individual and to imagine themselves as successful, if this money glitch depth journey is over.

Here are steps in the creation of successful images everywhere you go to support:

Think bypass successful ideas and successful people that can support your vision
Are you money, by the paymentSave yourself first on a portion of your income
Re-establish your life's mission and seek personal improvement
Looking seek out experts and expertise in the areas you wish to screen for the success that you can mentally picture your life experiences to generate succeedThe. Consequently, the importance will remember every day that you will succeed in spite of the disadvantages and difficulties that may be in your life here today.

It seems that the more Microsoft-Google battle ensues, the more corporate America is lining up to places on the ring. The resulting report by Aline van Duyn in the FT recently that is Dick Parsons, chairman and chief executive of Time Warner media mammoth now serious about selling a minority stake in undervalued subsidiary, AOL partners either one of the technology titans, and what is more the world can expect news of the decision sooner rather than later.

So far, AOLhad a disappointing player in the online wars, clocking a unique audience of just 72 million against Google, MSN and Yahoo, the audience of 79 million, 89 million and 99 million, or failing a clear indication of the equity value for Time Warner deliver slowly revived fashion for technology. AOL is currently around 10 billion U.S. dollars, against Google's $ 100 billion and Microsoft's $ 250 billion: If one of the two suppliers through with a purchase, it couldPush-value of AOL up to 22.5 billion U.S. dollars or more.

The view is like a Christmas present for Parsons, who was from the days of presiding over a messy merger of AOL and Time Warner already explained enough problems that come confusingly complex cultural and economic integration of two companies with employees seem, let alone analysts , now finds himself in the comfortable position, able to pick and choose between two competitors, will appear - and must - the minoritygeht so desperate as the other. Not only is there the prospect of finally gearing up to the value of AOL, but the added commitment of intellectual capital would enable the purchase of companies, which undervalued the Internet provider to secure a place in the history of the next century into the crack needs of the Internet world.

Although the market is an AOL baking supply, should the chances that the chairperson of Microsoft not be excluded. That is a lot to people --let alone the market is - surprise, but the effect of restoring back several considerations have in the NASDAQ. As I mentioned in a previous post here, so Microsoft seems to P / E of 20 disconcertingly low, the industry average of 45 compared to, let alone Google is now near 90th

One also suspects that this is perhaps the plan that was Bill and friends fabricated the whole time was his, and it's not the first time, has the Redmond, Washington giant such a stunt, either drawn: let theCompetitors get on the open market and high in the glory of speculators who pushed to keep relatively low, while in serious negotiations, then head challenge grabs Analyst / Trader headlines and explain victory while you have the competitors - and thus strongly needed capital - the collapse in the crucial hour. Game Over. Could Google's Hatrick for Microsoft on a list that already reads the defeat of two of America's biggest technology titans of all time - and IBMApple?

In pursuit of the current U.S. equity market, it seems to be oversold and in a serious discussion about the Online Think Tank, we believe that the market is due for a sizeable correction. How to find the time it is very Toppy and technical chart observers and analysts of the industry both a correction is inevitable. Things are having now a large amount of the equity markets have bought on the cheap.

The Online Think Tank has considered all these pointsDispute and has listened to the FED and punching numbers and we believe that we will see a summer reset or market adjustment to about 12,800. At this point it would reach the ground slowly with a long uphill. So it makes sense, starting out in cash and wait and then again in at plus or minus $ 12,800 in our opinion.

Why do markets correct? Well, it is relatively easy, as you can see, the stock market is not a true picture of an economy, it is rather the perception of aCasino. When things in motion are all in, all at once, and slows down the dynamics of the markets readjust. It is not evil, it is not good or bad, it's easy. This is out of proportion to the strength of the economy, the stock market is not that kind of yardstick.

Why would an online think tank here think? In our opinion, we believe that an adjustment come here and we like to think about many things. The economy is a very interesting topic and think-tankStock exchanges play a role in all the cash flows of each country.

Most financial analysts (buy and sell side) are probably aware that the SEC investigation into your company. Your Investor Relations organization must be:

a) Proactive communication

b) Stratum with what they know and do not know

c) Resistance to speculate the results and possible causality

d) Make it clear timelines and milestones

e) Be honest concerns about the impact on employee morale, customer and partner momentum / supplier.

This addressfollowing questions in a clear, concise and you will have a better crisis management experience:

1. If the adjustment of a substantial impact on your previous earnings, revenue and cash flow, balance sheet, etc.?

2. What is the extent of the backdating of options? How many instances and how long this was going on?

3. Have you formed a special committee to look into the matter? Who in the Board of Directors is the position of Audit? What is your experiencehave before in dealing with the crisis of this magnitude?

4. What is your reaction was hiring? What measures do you take to prevent a mass exodus?

5. Are you going to lower earnings estimates and revenue targets since the management is diverted to solve this problem?

6. What are the consequences from a legal perspective? How exposed are your directors? What is the DOE regarding insurance?

7. What about customers? Have you been affected and what is their level ofConcerns?

8. When do you expect to continue this process of investigation is completed? What are the key milestones should we pursue?

9. Who all going to be released / release, because this problem?

10. What is your process for continuous communication with us further on this subject?

Their IR and finance team is not all the answers, but these issues need to be at the University of Lüneburg, before you have the conversation with the analyst.

http://blog.vangal.com

Everything that a person or company does not produce or
contributes to its reputation. Reputation is an intangible
Good, but a very important one. In some ways it is even
better than money in the bank, but not so easy
quantified.

A good reputation is its own advertising and quality seal.
It can generate loyalty in customers that cross multiple
Generations and time zones. A good reputation can bring in
more customers in good times anda protective buffer
in bad times.

The author has delineated what he calls the, "18 Immutable
Laws of Corporate Reputation. "This book holistically
deals with the topic of reputation management in three
Parts: Keep a good reputation, too, that a good
Reputation and repairing a damaged reputation.

Law One: Maximize Your Most Powerful Asset

Reputation is an intangible asset, it is surely the
to manage most valuable asset andsignal strength reading. Good
Reputation can attract and keep customers, investors,
and employees. For this reason, a good reputation is like
a reservoir of good will (to society) will contribute to
it weather bear markets, scandals, or natural disasters.
Conversely, a lost or damaged name can scar a company
and provoke calls for boycotts or drive new capital.

Law II: Know Thyself - Measure Your Reputation

Before you manage your reputation, you must first
Measureand keep score. Measuring reputation
made easy by public opinion or standard market
Studies, but because each company has different
Stakeholders (target markets, shareholders, etc.) it is
necessary to adapt to. Less than half of the companies
custom research programs. There are no clear
Methods, it is important to identify
Actors (from local to global) and the relevant
Properties or quantities are measured: the same
Companies can place in the various surveys / studies.

Law Three: Learn to Play for many customers

No company is an island. Everyone has opinion on
everything. You can never please everyone.
The stakeholders are all involved with the
Companies. The group is as diverse as: customers,
Employees, investors, analysts, shareholders,
Government, interest groups, communities,
Pensioners, etc. Who do you think are important and playthem.
It is helpful to the parties concerned within the meaning of an opinion
Hierarchy graphically as a pyramid with the most
influential in the lead and others follow in descending order
Order. However, it is important to note that
Stakeholder influence is a dynamic relationship and
same model or the model is not necessarily to other
Markets / locales.

Law Four: Live Your Values and Ethics

Study of major U.S. companies shows thatstrong
Reputation as a moral and ethical behavior perform better
financially in terms of their income from investments and
Equity and its sales and profit growth. A study
cited that the average value of about
Investment of shareholders comes to 10.6 billion U.S. dollars more
as a company without a clear Code of Ethics and
Support behavior.

Law Five: Be a Model Citizen

At Timberland, is the social responsibility is an integral part
ofthe identity of the company and is an integral part
of its reputation. Apart from simple activities such as monitoring
its contractor overseas, improving energy efficiency
To minimize efficiency in plants and chemical wastes;
encourage them to volunteer for charitable work
Considering it as a paid holiday.

Law Six: Convey a compelling corporate vision

What is the company trying to do? This is the
Question answered by the corporate vision andsenior
Principle of its leaders and personified by the CEO.
To motivate the vision and the leaders of the parties,
Which, in turn a tremendous impact on reputation.

Law Seven: Create Emotional Appeal

Emotional response is difficult to quantify or define but
it is what creates customer loyalty and passionate
Enhances reputation. It is characterized mainly by the sum
the long-term human interactions with society
People, products,Services, and advertising.

Establishing emotional appeal is more than satisfied
Customers. It is also about the customer
identify happiness or satisfaction with the product. In
fast-paced world of electronics is also helped by a
personal note or special treatment.

Law Eight: Recognize your weaknesses

Analyze and evaluate your reputation and if your current business situation
Practices still build that reputation. Only through the first
To detect deviations and problems you can take steps to
to solve. The earlier you come into the pure, the faster you can
to resolve and we "damage control" before it reaches a
Crisis situation.

Law Nine: Stay vigilant

Damage to the reputation can happen suddenly and over time.
Managers must be vigilant and act quickly on any
perhaps because both can be damaged in a similar way
long-term effects. Someone should always watching ...
andThink. In the age of the Internet, including local news
can be known globally in minutes. But not all news is
true news. A sudden or instinctive and thoughtless
Answer (like an inadvertent admission of guilt with
an apology) is doing just as potentially harmful as to
nothing in the hope that a situation will abate.

Law Ten: Make your employees your reputation champions

The employees are the first direct contact between a
Company and its customers. Of courseEmployees
Behavior has a large impact on the company's reputation
both on and off the job, as they leave the service
Customers how they talk about the company
Friends, relatives, etc.

Law Eleven: Control the Internet Before It Controls You

The World Wide Web is an extraordinary tool and can be a
A blessing or a curse jeopardize your reputation. The World Wide Web has
no regulatory body, the truth regardless of the lies.
It is estimated over 730Million people are in a position to
interact with each other - by 2006 it could be over 1
Billion.

Surprisingly, a survey by Hill & Knowlton and Chief
Executive magazine, 16% of companies in the monitoring of
Internet closely, 39% check it at regular intervals, and 43%
Do not worry.

Law Twelve: Speak with one voice

Companies provide important means of building
their brand. As a company grows and diversifies its
Products, there is a tendency todetach from
Corporate brand. The result is a weakening of the
the corporate brand and weakening of their reputation.
A striking example comes from IBM, which in 1993
More than 800 different logos!

Law Thirteen: Beware the dangers of reputational rub-off

There is a saying that goes "Birds of the same feather
Flock together. "If two or more companies
in a partnership or cooperation, reputation
be dueeach other. Sometimes this is
desirable and is intentional. It is important to keep
with the intention of translating the spirit does not necessarily
to the desired effect.

Law Fourteen: Manage Crises with Finesse

Nobody and no company is immune from crises. Crises
can companies for violations, natural
Disasters, bad faith, a private remark taken
taken out of context, etc. The most critical phase
Reputation damage control happens in thefirst few days.
It is the tendency of companies to go quiet. This is a
mistake because critics will quickly use the time to
give their worst-case scenario and put out a negative
spin. The corporation should quickly gather all the
facts then make a public statement. The first statements
must be swift and sure. A mistake at this time will
taint all other succeeding statements. Customers and/or
the public need to be assured the right and responsible
is accepted.

Law Fifteen: Fix It Right the First Time

There are many ways to bring a company to try its
Reputation. Some companies try to put on a new
Image of re-invent itself with a re -
Vision or business restructuring. Other companies
will try reworking an old formula. Others are still
are directed against their successful, the reputation
believes that they are indeed back from making a more
contemporary image. But it isnot enough to address the shortage
change. The leader is the key. The leader has to be dynamic
and the company concentrated along the guide new way
against old habits and instincts.

Law underestimate Sixteen: Never to public cynicism

People have become more cautious of companies. Claims and
Statements are generally skeptical. Debacle
like Enron have worsened the loss of confidence Better
Communication is the key to improving relations. One
CompanyStandard "no comment" response confirmed the
Public the conviction of their guilt. A better relationship
could mean winning concessions for the company
Interests with favorable legislature or more community
support.

Law Seventeen: Remember - Being defensive is offensive

People appreciate openness and contrition. Being
Defensive is more likely to offend them. The public

required to hear an apology and needs to know what is
done to endthe crisis. Often the best way to diffuse
Crisis is a timely and sincere apology.

Law Eighteen: If All Else Fails, Change Your Name

Sometimes the best way to get rid of a bad reputation, is
to build a new one with a new name. But name changes
should not be lightly used. The immense costs aside,
a name change is confusing and leads to loss of brand equity.
You could lose all good, and you are not guaranteed
free from thisbad. At the very least, opens a new name
possible willing von who another message heard.

What is self-financing?

An employer who operates a self-funded health plan assumes the financial risk for health care benefits for employees. Self-funded plans are different from the fully insured plans that employers do not pay the monthly premiums for health care that could give the employees, the employers, but pay only those claims that actually get the staff.

In order to limit their liability, most employers purchase stop-loss insurance. The stop-loss insurer undertakes toreimburse the employer for the cost of health services that achieve a certain threshold (generally $ 25,000 - $ 100,000) in exchange for premium payments. In general, the lower the threshold of the higher the premium.

Suppose that a stop-loss threshold of $ 25,000 set. The employer to pay workers' health care claims up to more than $ 25,000. However, the employer will reimburse for claims payments and about $ 25,000. The stop-loss insurance company has not set annual and lifetimeLimits of coverage and premium costs should be adjusted accordingly. The higher the annual and lifetime maximum the more premium is required.

The employer can use the money only to pay claims or, alternatively, it can be a common cost associated with employees who will be a certain contribution. The money is usually placed in an escrow account, which is then deducted to pay claims as they are incurred.

What are the benefits to fund itself?

Typically, employers will automatically save money in the first 12Months, while the self-financing. This happens because, for insurance claims processed until the second or third month. In the first year, the employer set aside 12 months worth of money to pay debts, but they will only pay 10 or 11 months worth of claims for any delay.

Employers also experience savings in direct costs, the fully insured health insurance premiums, such as overhead, taxes, profits and commissions are included. Most self-funded plans for the use of a third partyAdministrator ( "TPA") to process and pay medical claims. Most TPA administrative costs are significantly lower than those contained in the premium by an insurer or HMO. And pay premiums up to a complete stop-loss insurance are usually much lower than that of the insurer paid for a fully insured plan.

Self funded employers also save on premium taxes, that they usually pay if fully insured, since they only hold money to pay the trust in relation to health claims. Self-funded plans are not required to pay2-3% of the premium charges for fully insured plans.

Mandatory benefits are imposed by state law, not even for the most self-funded plans, as the federal law governs the most self-funded plans. This state-mandated benefits are often expensive and cut them out from additional costs.

Even employers fund has the flexibility to design their health benefit plans. And they have more control over the distribution of benefits compared to a fullyinsured plan. In a self-funded plan, employers have access to the money in the fund, says that is used to pay current debts. This money produces interest, can the funds which would otherwise not exist in a fully insured plan to add.

What are the risks to fund itself?

Despite these important advantages, there are several risks that must be considered before the decision to self-fund is made. The biggest problem in self-financing is the potential financialExposure.

Disasters and high utilization of employees can lead to excessive stress. This can be mitigated, as described above, through the purchase of stop-loss insurance. However, proper analysis of potential risks your company is important when you are trying to determine the attachment points for stop-loss cover.

Your company must be aware of potential legal exposure. As is self-financing, you remain ultimately liable for claims decisions errors. In addition, labor relationsOne potential problem with the employees in case the employee medical claims are to be paid late and might lead to unrest, dissatisfaction, or a decline in productivity. Both risks making the choice of a qualified, competent TPA essential.

Finally, there are many legal complexities, the effects of self-funded plans. Most self-funded plans are regulated by the Department of Labor and are subject to federal law, in particular, the Employee Retirement Income Security Act ( "ERISA").And there are some important tax considerations that need to be as well taken into account. Finance the development of a relationship with an ERISA attorney well versed itself can save you time, money and headaches employee complaints.

Self-financing is right for your company?

In general, the decision whether the fund itself is much easier for employers with more than 200 employees. In fact, finance is not very widespread among small employers, only 12% of those with only 3 to 199Employee self-funded health plans, according to the 2007 Kaiser Family Foundation Survey of Employer Health Plans. The more people you have, the easier it is spread the risk. Medical data are generally quite volatile and smaller employers often not the same cash flow needed, this month, where costs are too high finance.

To determine whether self-financing is the right option for your company, you should use a risk analysis and cash flow analysis to examine, then, leadDemography and staff members covered. You should also consider the claims of the history of your company. You need to know provided the age and distribution of demands from your employer to the risk that you are accepted, will determine funding by itself.

With this information, you will have an idea about the general age of your employees and can see that disclose all of their health claims. For example, if your employee population is aging of the data can prove expensive,Conditions of old age such as heart disease or cancer. Or perhaps your employees are disproportionately overweight, then you can see more diabetes claims or to be notified at least be informed that these types of claims are likely. On the other hand, if your employees are young, they may have very little capacity, but are vulnerable to sports injuries. At this point you need utilization review for the last 3 to 5 years.

With these data in hand, it should be possible to determine whether youreasonably afford to pay for themselves. Let's be realistic, but about your business cash flow. Claims should not go in an orderly manner over a 12-month calendar period. Some months are more expensive than others. You can not move claims payments, you must have sufficient cash flow and have applied enough reserves to make immediate payment. The assistance of a qualified TPA, insurance brokers and / or ERISA attorney is important at this point and a qualified professional body in a position to assist you to determinewhether self-financing is a viable option.

What impact will Funded ERISA & Other Laws Have On Your Self Plan?

Most of them are subject to ERISA and unselfishly the comprehensive package of regulations associated with this statutory scheme. However, ERISA preempts state insurance laws, including reserve requirements, mandated benefits, premium taxes, consumer protection and regulation. Even the financing provides for more freedom, plans free from state contracts, which can create a resultsignificant savings compared to fully insured plans.

However, it can, in addition to ERISA, there are other federal laws, which will definitely affect your self-funded plan include:

1. Health Insurance Portability and Accountability Act (HIPAA);
2. Consolidated Omnibus Budget Reconciliation Act (COBRA);
3. Americans with Disabilities Act (ADA);
4. Pregnancy Discrimination Act;
5. Age Discrimination in Employment Act;
6. Civil Rights Act;
7. Internal Revenue Code( "IRC");
8. Tax Equity & Fiscal Responsibility Act;
9. Deficit Reduction Act, and
10. Economic Recovery Tax Act.

While this is not insignificant list, a good TPA in a position to manage and meet the most onerous of the Statute, including ERISA, HIPAA set handle, and COBRA. Note, however, that although compliance with TPAs service they can see no liability for breaches of these laws (except for gross negligence),directly on the shoulders of you the rest of the employer.

Who Will Manage Your Self Funded Plan?

As you can see, choosing the right TPA is one of the most important, if not the most important decision in deciding to fund themselves. A TPA can be financed with cash flow and risk analysis, and can manage much of the compliance requirements of a self-help plan.

Here are 10 steps to find a qualified TPA:

1. Look for a TPA that the provision is a capable,individual health care plan specific needs of your business;

a. Your selected TPA should be flexible enough to be a plan that fits to create your demographics. Adjust work with your TPA, the coverage will cut costs and improve employee satisfaction with the services.

2. Check references of some of the major customers of the TPA.

a. Ask for a list of the major customers of the TPA then contact the customer to independently verify the customer satisfied with the TPA to.

3. MakeEnsure that the TPA used and provides an accurate legal information.

a. Look for a TPA that communicative and up to date on changing regulations. It is important that your TPA has a close working relationship, or ERISA, a lawyer because of the complexity and the interplay of ERISA, federal and state insurance regulation.

4. Understand how an operator (doctor / hospital) Network (PPO) numbers in the equation.

a. TPA often have relationships with provider networks and mayNegotiations on your behalf.

5. , Examining how the TPA manages your funds.

a. ERISA plans must be unselfish caution to protect their assets. While not legally required, TPAs generally recommend that employers use an escrow account for their plans. With this step, the request meets the ERISA prudence. Many TPAs also provide client audit reports verify that their financial practices to prevent fraud and abuse.

6. Questions of whether the TPA COBRA and HIPAA processesDocumentation.

a. COBRA and HIPAA, two federal laws have several registration and compliance issues that manage the majority of TPAs for you. Just make sure your contract states that the TPA will be responsible for COBRA and HIPAA administrative error and that the TPAs covers errors and omissions policy COBRA and HIPAA error.

7. Learn everything you can about the cost of TPA-containment programs.

Others issues such as the TPA to handle permissions, large case management, utilizationReview and provider network evaluations.

b. Also determine how the TPA manages catastrophic claims. A good TPA is usually active: enable early detection of catastrophic claims, the TPA in order to reduce costs without reducing the quality of care.

8. Find out how the TPA trains its claims analysts.

a. In addition to find out who are trained as analysts, asks good after turnover rate good idea.

9. Make sure that the TPA process is well-managedReporting.

Others are available to your chosen TPA should plan to make regular reports to explain status. The reports finances, number of employees should be served, medical costs realized, use of medical services and cost savings from network operators.

b. These reports are invaluable and you will be using the information you need to decide what services to add and whether you increase or decrease the contributions of workers and put on notice in relation to other necessary changes, or makeChanges.

10. Review properties of stop-loss insurance.

a. Once you have your choice of TPA, it may be dangerous to stop-loss insurance contract on your behalf. Be are aware however, that self-funded ERISA requires plans to get several bids.
b. Make sure that you are able to easily review the tenders and to ensure that you have some due diligence not to the stop-loss carrier. You may not want, with a new company that is familiar with the company and much moreinexperienced.

c. Finally, ask your TPA procedure relating to the renewal or amendment of stop-loss carriers. A good TPA is aware, and you'll find that on the renewal procedures and requirements definitions are made often complex. This complexity is deliberately drafted by the stop-loss carrier to avoid liability claims.

d. A quality TPA will ensure that you are made aware of this complexity and makes sure that you are not left holding the bag with thousands of dollars in unpaidClaims.

Conclusion

For those employers who have the size and the available cash flow, a self-funded health care plan could result in substantial medical claims savings. A self-funded plan with the flexibility to provide individual benefit planning approaches and offers much more control over plan to offer services than the typical fully insured medical plan.

However, there are numerous risks and potential dangers, including legal and compliance risks, staff and workers to headaches andpotential liability for mishandling claims. Most large companies will find that these risks successfully alleviated with the help of a qualified, competent TPA.

The implementation of a self-funded health plan is not to take lightly, but that they do not do so may mean losing thousands of dollars each year, fully insured premiums. Perform cash flow and risk analysis before you a good idea whether your company is willing to finance itself in detail. At this point, if you believeself-finance a viable solution to a qualified ERISA attorney and TPA, or with the help of a competent professional is a self-funded project that not only the needs of your employees, but also strengthens your bottom design.

The fluctuation in the nature of man has involved himself in financial products. Say for example if an applicant is his home under renovation or improvement, but on the other hand, he does mind him to prolong the process some of the time a little farther. In both cases, financing a leading role to play in between, if you have a credit benefits claimed, then find renewal of the provisions and conditions very difficult. To this prospect, flexible loans prove to be a good financialTools.

When a buyer from purchasing investment property with very little or no money, there is no margin for error if the renter bolts in the middle of the night because a job loss or death in the family. The tenant was in fact verify the ownership of the mortgage payment, taxes and insurance with a monthly rent. If no new tenant surfaces and the free space goes for a few months, the owners quickly tire coming out of his pocket with the mortgage on investment and will easily go homecontinue with the much more flexible loans.

However, money market is now blooming in various types of loans to improve the feasibility and right of the borrower's financial flexibility. To this prospect Secured loans are the best forms of flexible financial options for flexible terms and conditions. As an even bigger advantage you can once again borrow money that you already paid on overpayments. In a similar way as an overdraft facility can save you money against the loan back, and itis easy to extend or re-calculate the term. Most vendors now offer so-called borrowing limits. Work on a fixed rate basis and if you do not want to use it, you do not have to. They would not receive a single penny.

Because the entire process, availability, presence everywhere in the money market, but for a quick approval and fast processing, online method is the best application tool. Simple application form and the necessary financial provisions read on behalf offlexible loans on flexible terms and conditions.

Just landed an offer in the world of investment banking? Enthusiastic, your full-time job start?

Great. Congratulations.

But guess what - you will soon have to think about your resume and interview skills again, if you will private equity and hedge fund jobs after your 2 years as an analyst.

In many ways, tailoring your resume for private equity jobs is similar to receiving your application to small-scale investment banking> Jobs.

But it is a critical aspect in another way: you completely on your investment banking experience and more broadly, the deals you have worked.

If you show for non-finance jobs or MBA application, then definitely the whole picture. But private equity firms are very much focused on your experience with care, etc., to.

Private Equity Resume Structure

Half Your application should consist of your investment bankingProfessional experience, including your overall responsibilities and the deals you have worked.

Education Move to the bottom that you are now in the real world. Contact information should still be at the top, directly followed by work experience and your bank job.

Writing About Your Investment Banking

At the beginning of this section, write a few sentences about your overall responsibilities and summarize the deals you have worked. "Special projects" could also gohere.

You want the number of items you are upset at the nature of the transactions (M & A, IPOs, bonds, etc.), and the skills you have gained - leveraged buyout modeling, accretion / dilution modeling, discounted cash flows and valuation.

Following this, you will go into the heart of your resume - your investment banking deal experience.

Your selection Deals

Closed deals not matter. What do you personally contributed to a business does not matter. Although it's nice to listhigh-profile deals, you should select transactions that you learned a lot and had a great responsibility, even if on the smaller side.

For private equity jobs mainly trying to write about M & A transactions and capital market transactions. Debt could also be ok to write about it, but stay away from shares because private equity firms is essentially the M & A and debt will hold out for bids on a daily basis.

Writing About Your Deals

Avoideducation and refinement made in each to provide a unique experience. Here is an example of how a business is in your resume list:

5 billion U.S. dollars to the sale of his company to company Y
Created Offering Memorandum and Management Presentation and much persecuted status
Managed due diligence process and answer all questions

That is far too general and makes the transaction very generally seem to be good. There is nothing that looks particularly interesting or makes me say "Wow looks like he learneda lot! "It's not much you have in the way of results.

The Right Way to Write About A Deal

Focus on the unique aspects. Do you have any influence on the negotiations? Have you run your analysis at a higher price or to generate additional interest in the market? Did you analyze the market in ways that have led to a better price?

If you do not have anything unique or interesting about a deal (and say) some of them, skip it and write about something else.

Here is how Iwould re-write my previous example:

5 billion U.S. dollars for the sale of Company Y to Company X
Worked with CFO to build business model of companies with 40 different properties in the U.S. and Europe
Created market analysis showing favorable trends in casino construction, led to 2 private equity buyers still in the auction until the last lap

Although the same length, which is about 500 times better, because it shows what you did was unique, as well as the businessand returns the results of your work, makes the generic bits.

Writing About unannounced and Dead Deals

This is fine as long as you do not mention any names. If most analysts Buyside interview for jobs, they do not have all announced or deals already closed.

When treatment is a very large or well-known, I would avoid mentioning specific numbers / dollar amounts and, instead, shares and make it generic while the quantification of what youdone.

Closing Thoughts

There is no magic, continued private equity. Like any other type of resume, quantify, specific, and focus on results. Make sure you choose to write your best deals, as well as write about your most impressive achievements on each lot.

I have found in the insurance and securities business for over 30 years. I have delivered large death benefit checks, helping families to reduce taxes through unique strategies. I've won and lost other peoples money in the stock market as a broker and all these things, while important have very little personal satisfaction provided.

Maybe you can relate, you have been working a job or sell a product that offers a lively, but not offering you the satisfactionwants?

Five years ago I began a Reverse Mortgage company with a few partners and we started to earn money and to help seniors access the equity in their homes so they could live the balance of their lives in comfort. At the time it was all about money for us and it was just another product.

After having some older people lose their homes to take the provision of resources for couples, the last holiday of their lives, the repair of the dwelling of older peopleMen and women were able to pay for the repairs in other ways, providing funding for a man who was selling his furniture just so he could eat every day, and a financial settlement were too many heart-breaking situations, the provision of more high-ranking American, my This mind has changed dramatically.

Yes, I can make money selling other products or for any other job, but the personal satisfaction I get from providing a financial solution for these people my life has changed. Inthe past, all my goals were focused to help themselves and how much money I could, now revolves around helping people to a better life. Could afford Think about how you would feel if you helped your mom or dad to fully remove a financial burden from the shoulders, like how to fix the leaky roof or pay off a mortgage can not.

I have a reverse mortgage for my father 3 years ago, when he has 82, and after about a year ago we talked about how he felt, was about it. The thing thatremain with me is his comment that this was the first time in his life that he does not pay rent or a mortgage payment. Perhaps your father or mother is like mine, or perhaps they have other financial need, here is a career to help you and others in which she helps people over 62 years, a little, her last years on earth could use an integrated can be somewhat enjoyable.

If the idea of helping a large living elderly, a better life, please contact us.

When people have a problem related to raise capital, who would see them? Yes, they go and check with their investment banking analyst. People who are with the investment banking world would be fascinated to be a benefit if they would actually be the preparations for a possible career as an analyst. Investment banking analysts are usually bachelor's degree graduates or students who plan to obtain an MBA program in order to move up to director of the company. InReality, these students typically work on a length of about two or even three years before they do. Before we could even have an investment-banking analysts think they should end their first Bachelor's studies and experience an internship in the summer before her senior year in college. The main reason for this recommendation is based on the fact that many of the recruiters investment banking analysts, the deal once interned, theOrganization.

Who to an investment banking analyst someone should really enjoy working with a computer. This is because it is customary to spend for these analysts, most of their hours, said the technology. What they are actually doing, she's cordial relations with both traditional and non-traditional financial sources, which help to be able to determine their customers, which would be one for the ideal situation of customers and their needs. These investmentsBanks could also help people with raising equity, much structure, and the negotiations.

These analysts also often work in their homes and they even pull all-nighters, when it is absolutely necessary. Some of their tasks include the creation of compositions, processing pitch books and building models. Experienced analysts even together pitch books and still, there are others who could their way into this exciting job as a live-work meeting transaction. TheJob analysts may differ on details of each case, but one thing is guaranteed, the hours are usually long and tiring. One day you could clock at 9 am and it could very well end well after midnight, although some days that might be considered are slow.

Investment banking analysts should be very familiar with Excel spreadsheets practiced, Bloomberg, Word and PowerPoint, as well as with writing VBA macros. You should also know how to produce brochures, asRegular newsletters and length (or weekly newspapers), pitch-get books, running errands, keep schedules and to answer client phone calls, among others. Analysts should be diligent, thorough, reliable and flexible. Some great tips to make a good analyst is to learn it on the market and begin the financial sector, at the height of the economic and financial news to keep, in the morning and still love the job.

According to the analysts worked for two or three years, they can now want to pursue theirMBA degree and may or may not once the investment banking industry again. The former analysts, given that MBA degree have, would have the clear advantage over others who have not worked effectively in this area. Simply put, with a genuine investment banking analyst is similar is proud to earn a stripe in the financial industry.

Despite national reports citing the real estate frenzy is approaching a freeze, there is a growing demographic that the market will continue to heat: the baby boomers. As they pursue their quest for the ideal vacation or retirement home that analysts suggest that this large group of pensioners from stock, the dynamics of the market at a steady pace to keep.

The historical component of the last 50 years contributed to the profile of the baby boomers form. Absorb the examples of theirParents who experienced the tightening of the economic depression and rationing of World War II have traditionally been conservative Boomers spend money. Snapping on real estate, flipping properties and trading houses during the time their children were with boomers in the late 60s and early 70s was not normal. Everything changed with the red hot economy in the mid 90s. Riding the wave of the peak in the economy, the conservative spendthrift soon sophisticated investors. Althoughsizzling stock market with the dot-com bust of the late 90s, low interest rates with the changes to tax legislation gutted the real estate boom fueled the early 2000's. With children leaving school and retirement on the horizon, Boomers divert their investments in real estate.

New research shows that the number of second homes purchased between 2000 - 2004 almost doubled. The value of homes doubled as well, with the average increase was 55% at home in these 4 years. KeunwonChung, a statistical economist at the National Association of Realtors, says the baby boomers, especially those with above-average incomes, are primarily motivated the second home market. Chung quoted a reason why these boomers are snapping homes is to diversify their financial portfolio. Another reason is for their golden years position. Tax friendly retirement states such as Florida, Arizona, Nevada and have already witnessed explosive growth in both housing andAppreciation. Florida experienced a 25% increase in property prices last year acquired one of five such homes as a second home or investment property. Nevada's home prices by 17%, obtained with a comparable rate as investment property. The U.S. Census Bureau expects to continue this rate continuously and second home purchases from Baby Boomers are projected to reach 6.4 million units by 2010.

Most Baby Boomers are the luxury in their second home purchases. A poll conducted by Coldwell Banker, the Boomer generation "... luxurious homes and will want to remain active." Neil Howe, author and expert on generations theory, confirms this by stating to "Boomers live somewhere where they can remain active. They want to be close to cultural and intellectual hub that with the Community and Culture in touch . remain "And this generation can afford their desires. From the accumulation of wealth through the stock market, home'Justice and inheritance, along with the earning power of working in retirement years, boomers have more money than any previous generation of pensioners. Studies from Harvard, NAR and NAHB all agree that boomers will most likely use their cash and home equity to purchase multiple residences, based on prime location and amenities. While condos traditionally this requirement, a growing number of Boomers who filled turn now to Hotels, Condotels condo, and otherResort-style living different options.

Condo Hotels Appeal to Boomers, because they have the luxury and location, are the two most important ideals that keep boomers in search of their dynamic lifestyle markets. "Why buy a condo in the city, which sits empty for ¾ year when they can own a condo hotel, have to five-star facilities available to them are centrally represented in a top tourist destination, and receive rental income? "says Steven Roszell, owner of CondoHotels.com and HotelsForSale.com.Prices of condominiums, which the hotel management company, if the apartment is provided empty, is another main attraction of condo hotels for Boomers. Bob Waun of Vacation-finance.com, says that even though Boomers who want a resort-style living and luxury amenities, not all classes can afford. Waun says, "less than 20 million (26.5%) of U.S. boomers are wealthy enough to afford a whole ownership second home without rental income." But because of the potential rent, condo hotelsOffer "subsidized luxury that will have a growing selection to be among savvy boomers." Waun also believes sheer Boomer demand will motivate the condo hotel market. He quotes, "if only 1% of this generation demands condo hotel will be required as a second home option, 1.45 million units. The 96,000 condo [hotel units] per year, every year ...." For the next fifteen go years, the boomers will retire. Considering that the U.S. currently has only a handful of markets for condo hotel resorts, itit is probable that the demand for supplies to replace.

78 million U.S. baby boomers into retirement span of the next 15 years will no doubt have an effect on the real estate market. With the oldest of the Boomers Turn 60 this year, brokers are always reading their demand breast-feeding. "We have a large market cycles in the condo hotel market will see" says Roszell and CondoHotels.com is ready. " Although explosive appreciation and development is not likely, analystsnot agree that the boomers will be for us a lively property market.

Cold Calling is a great tool for marketing. Many analysts fear to do, but imagine what could it have a big impact on your career if you are able to sell your products over the phone.

As a financial analyst, part of the job is that you are always a little marketing. Even before you step your foot on the field, you need to succeed in job interviews market. Whether you are in equity research, institutional sales and investmentBanks, you are always marketing ideas.

Cold-calling is just terrible when you do not have a plan. Before you pick up the phone, you should make sure that you are ready.

Do you know your products, your company and your competitors. Ideally, you need to sell a product, so think a product that you would even buy. But in the case of the summer for an internship that may or may not be the case.

Research close competitors products and prices. This way you can know howTo compare your products. Learn how the strengths of the products in beating his weaknesses. With this knowledge you can better handle objections.

Remember that the first impression you can make your views over the phone, through your voice. If you believe in the products that you sell, you will radiate confidence in your voice.

Prepare a compelling script. The best "script" is a conversation, not a sales pitch. A listener is open to a friendlyConversation than a sales pitch. If you get a script from the company, use this as a reference. Read how a script is a guaranteed way to have all call you hang up on you.

An effective script consists of four parts:

- Use informal greetings

"Hello. Can I do to Mr. Smith?" This is Chris Johnson calling from XYZ Company "is usually a giveaway is a sales pitch. I think there are better chances for my chances if I sound less formal.

Irather say: "Hello. Is John there?" This is Chris. "

Sometimes I would go for "Hi, John. This is Chris."

If it's not John, I just want to say: "Excuse me, John is in?" This is Chris. "

The familiarity most people would throw off-guard, and they would rather carry on a conversation with you while trying to figure out who you are. Most people would not admit they do not realize that someone they know.

- Establish credibility

If you use any kind of transfer.It may even be the talk was just transfer before the call to your prospect. It can go so: "I spoke with Susan in marketing. She said I should talk with you about ..." Is there any information about the prospect, do a quick search before the call. Never mind the "how are you?" Regards. Just be brief and to the point.

- Creating Curiosity

You must be able to tell your perspective in two of three short sentences, the benefits of your products. Mention some realTo collect results, their attention. You will know that your sound is working well, if your client says: "tell me more."

For example: "Last year the ABC fund my company helped more than 1,000 investors and their investments grow by 25%. That was fantastic, compared to only 5% interest on savings and 10% return on the stock market."

An effective sound bite is customer focused, and it emphasizes product benefits, not features. This is the essence of successful marketing. Always focuson the value that you produce for your clients. Is it in the best interest of your customers buy your products or you are just trying to close a sale?

- Connect confident

When the customer shows interest to learn more about your product, you should immediately follow through with an invitation to the next step - either with your presentation over the phone or arrange further meeting for a meeting.

For example: "We should do justice to. Last year, only 10% of the funds managed to achieve this objectiveLevel. Even though I will not promise the same results this year, it pays to really make sure that you have time for. Thursday morning is a good time to meet with you? "

If the customer is not interested thank him for his time and go to your next prospect.

Practice your script. If you read the sript to send either himself or a friend, you can determine where objections arise. First, try to redraft the script to eliminate any doubts. Next, prepare answersthe objections. If you are well prepared for this increase trust.

Cold-calling is not something that you do not like. Masterfully cold calling requires preparation, many practices and social skills. This is not only a valuable tool for a financial analyst, it is also a marketing capability that is essential and that the possibility to speed up your path to career success.

If the smartest people in the room designed their credit default swaps, they forgot one thing - what if the business did not pay the money, you ask? Credit default swaps (CDS) have used a form of derivatives to hedge loans. They are sold as "insurance" against default and are used by banks as a substitute for adequate capital resources. But CDS are not ordinary insurance. Insurance companies are regulated by the government, with reserve requirements, statutory limits, andExaminers routinely showing up to the books you check whether the money is there to cover potential claims. CDS are private bets, and the Federal Reserve from the time of Alan Greenspan has insisted that regulators leave out the hands. The sacrosanct free market would supposedly regulate itself. The problem with this approach is that the rules are just incompatible. If there are no rules to the players to cheat, cheat, and they have a gambler's paradise with addiction. In December 2007 the Bank hasInternational Settlements reported derivative trades counting in 681 trillion U.S. dollars - ten times the GDP of all countries of the world combined. Somebody is obviously bluffing about the money to put the game, and this realization has made for some very nervous markets.

CDS were du jour as "the derivative disaster", the following CDO (collateralized debt obligations, SIV (Structured Investment Vehicles "), and other obscure financial restrictions we had toto learn last year. The derivative is a strange concept that is very difficult to understand, but the basic idea that you are an investment that you can up by betting that it will insure to bottom. The simplest form of derivative is a short sale: You can bet that some asset you own go down, so that you are covered, depending on how the asset-moving place. Credit default swaps are the most widely traded form of credit derivatives. They are bets between two parties, whethera company will default on the bonds. In a typical default swap, gets the "protection buyer" a big payout if the company defaults within a certain period of time, while the "protection seller" collects periodic payments for the acquisition of default risk. CDS something like insurance, but it is not necessary to actually maintain an asset or suffer a loss, so they are often used just to speculate on market changes. In the example, a blogger, a hedge fund want to increase their profits,could sit back and collect $ 320,000 per year in premiums just for selling "protection" on a risky BBB junk bond. The premiums are "free" money - free until the bond actually goes into default if the hedge Funds could be on the hook for 100 million U.S. dollars in claims. And since the rub: What if the hedge funds do not have the money? The company is a shell or limited partnership into bankruptcy, but it hardly helps the creditor is .

Derivative "insurance" is, turns out to be more likeInsurance fraud, and this fact has mainly home with the ratings downgrades of "monoline hit" bond insurers and the recent collapse of Bear Stearns. Monoline insurers are the greatest writers of protection for CDs, and Bear Stearns, one of the leading Wall Street investment broker was the twelfth largest counterparty credit default swap transactions in 2006. These players were all great "protection seller" in a vast network of credit default swaps, and when the "protection" goes, the wholefragile derivative pyramid go with him. But the immediate and inevitable collapse of the derivative monster do not have reason to despair. The $ 681 trillion derivatives trade is the last supersized bubble in a 300-year Ponzi scheme, one that is now taken over the entire monetary system. The nation's wealth has been drained into private vaults, so that scarcity in its wake. It is a corrupt system, and change is long overdue. Only when the end of the old leaky ship something can be better. Replace Great crises are major opportunities for change.

THE "DERIVATIVES Chernobyl"

The Bear Stearns shakeup on St. Patrick's Day weekend was a direct hit to the banking Titanic from the derivatives iceberg. Bear Stearns helped to bet the explosive growth in the credit market, where banks, hedge funds and other investors worth $ 45 trillion from the credit-worthiness of companies and countries have prescribed. In 2006, the twelfth largest counterparty Bear wasCredit default swap transactions. On 14 March, Bear's ratings downgraded by Moody's, and 16 March was designed Bear by JPMorgan for pennies on the dollar, a sign buyout in order to avoid the legal complications of purchased bankrupt. The project was supported by a 29 billion U.S. dollars credit line from the Federal Reserve. As one headline put it, "Fed's rescue of Bear halted derivatives of Chernobyl." Baer was in a reported $ 13 trillion in derivatives trades. [cite] But the idea that either was Bear"rescued" or that the Chernobyl was halted by the rescue plan, the Fed has been grossly misleading. The CEOs managed to save their breathtaking bonuses, but it was a "bailout" only for JPM and Bear's creditors. For shareholders, it was wipeout book. Their stock initially dropped from $ 156 to $ 2 per share, and 30 percent of which was held by the employees. Another large chunk of it was the pension fund of teachers and other public service instead. The share price was later increased to $ 10 per share in responseOutrage of shareholders, but shareholders still essentially wiped out. And the fact that a Wall Street bank had to be fed the lions to rescue the others hardly inspires a feeling of confidence. Neutron bombs are not so easily contained.

The Bear Stearns hit from the derivatives iceberg followed an earlier in January, when global markets had their worst tumble since May 11 September 2001. Commentators asked whether this "The Big One" - a 1929-style crash - and itwould probably have been, if not quickly recognized skillful manipulating the market over the approaching catastrophe. The steep decline was due to the threat of downgrades in credit ratings of two major monoline insurers, Ambac and MBIA by a loss of 7.2 billion U.S. dollars in derivative transactions, the Societe Generale, France's second-largest bank blamed followed. The "monoline" are so named because it allows them to "assure" just one industry, the bond industry. Like Bear Stearns, they serve as counterparties in aCompromising network of credit default swaps, and concessions in their assessments would be the whole edifice shaky derivatives.

The January collapse in the international markets occurred on Martin Luther King Day, when U.S. markets were closed. That meant there was no Federal Reserve, no CNBC business channel, no Plunge Protection Team at work to turn the misfortune away. The team was clearly at work the next day, when the market suddenly reversed course, but the curtain was thrown back a long timeenough to see what the future might suspect anything good. The Plunge Protection Team is a team of experts assembled by the President to specifically manipulate the market. Formally called the President of the Working Group on Financial Markets, it includes the President, the Secretary of the Treasury, the chairman of the Federal Reserve, the chairman of the Securities and Exchange Commission and the chairman of the Commodity Futures Trading Commission. If ever a last doubt as to whether suchTeam actually goes into action in such situations, it was dispelled by a statement by Senator Hillary Clinton, according to the State News Service on 22 January 2008. She said:

"I think it is imperative that we must do the following step. The President should have already and should not so quickly, the President may convene working group on financial markets. This is something that he can ask the Secretary of the Treasury to do .. .. This must be in all markets with the coordinationRegulators here and obviously with regulators and central banks around the world. "

The market reversed on rumors of a 15 billion U.S. dollars rescue package for the ailing bond insurers by the banks stood to lose the most when it went down. But no rescue materializes in the next month, and even if it was 15 billion U.S. dollars is clearly insufficient to rescue the monolines. Analysts said the ailing insurer might need as much as 200 billion U.S. dollars in order to remain viable. They warned that investors wouldFace huge write-downs on the valuation of securities guaranteed by the insurers if they lost their top credit rating. The insurer "covered" securities with credit default swaps, thinking they would never actually have to pay. This was for the municipal bonds it guarantees traditionally, since municipal bonds rarely default. The failure of the monolines has been branching out into securitized mortgage debt. If the housing market were defaults cascading everywhere.

On22. Reversed in February 2008, suddenly after a bad week in the U.S. markets, rumors of a bailout package caused the stock market again, but again the rumors suggest. Bill Murphy wrote in his farm market commentary "Midas", "My guess is they were looking at another potential Asian meltdown Sunday night, and will do anything to avoid the abyss." The alleged bailout passed, and none was known, and if a resolution was finally announced, it was only for Ambac raise an additional $ 1.5Million in capitalization through the issuance of shares. But the PPT had his work are necessary in creating the illusion to "do trust in the market, the" rehabilitation and we will not likely hear nothing more about the downgrade of the monolines, particularly now that the Federal Reserve, the needs of their "Triple A" Veneer justify the sub-prime debt load as collateral for the Bear Stearns deal.

Institutional investors have lost a lot of money in everything, but the real catastrophe is to the banks. Theinstitutional investors who have previously bought mortgage-backed bonds no longer buy them in 2007, when the housing market collapsed. But the investment houses that sold them have billions of dollars "left on their books, and it is these banks that particularly stand to lose as the derivative Chernobyl implodes. Without the monoline insurers' triple-A seal, billions of dollars of triple-A investments back on junk bonds, and because many institutional investors have a fiduciary dutythrown to invest in only the "safest" triple-A bonds, bonds get downgraded to the market, jeopardizing the banks that are still in the hands of billions of dollars from them. The downgrade of Ambac in January signaled a simultaneous downgrade of bonds from over 100,000 municipalities and institutions, totaling more than 500 billion U.S. dollars.

A parade of rescue SYSTEMS

Now that some highly leveraged banks and hedge funds have had their cards on the table and expose their worthless hands,This Avid free market screaming for government intervention to save them from monumental losses, while preserving the monumental gains raked in when their bluff was still good. In response to their cries, the men behind the curtain have scrambled to develop different systems to rescue package, but the plans have been bandaids at best. To bail out a $ 681 trillion derivative scheme with taxpayer money is obviously impossible. As Michael Panzer observed on SeekingAlpha.com:

"As the slow motion --Train wreck unfold in our financial system further, there are too many poorly designed to go rescue attempts and dubious turnaround plans, as well as propaganda, hypocrisy and intrigues of banks, regulators and politicians. All this is done in an effort to try to buy time or to find out how the losses on the lap of some Patsy (for example, can be sunk) to the taxpayer. "

The idea seems to be to get to play the violin, while the Big Money Boys in the mist and man slipthe lifeboats. As noted in a blog called "Jesse's Café Americain" concerning the Ambac rescue:

"It seems that the real core of the problem is that AMBAC was as a" cover "of the banks that originated these bundles of mortgages used to get their mispriced ratings. Now, as the borrowing is to be performed and the banks are with put them, AMBAC can not possibly pay, they can not for the debt. And banks do not want to mark these CDOs [collateralized debt obligations] toMarket [downgrade to their real market value] because they are probably the best worth 60 cents on the dollar, but by the banks, the bottom line instead of around par. This is a 40-percent haircut with enough debt to fall in each bank involved in this situation. . . . In fact, for all intents and purposes, if market values banks are insolvent. Thus, the banks will make available capital to AMBAC. . . [but] it's only a game by money order. . . . Why the banks are participating in thisCharades? This looks like an attempt to disbursements has gone bad on a big Ponzi scheme that collapsed from the extended. . . . "

THE WALL STREET Ponzi scheme

It has Ponzi scheme gone bad that is not just another false investment strategy. It's the core of banking business, the thing that it has based the course of three centuries. A Ponzi scheme is a form of pyramid scheme in which new investors must continually drawn to the bottom, the supportInvestors at the top. In this case, new borrowers must continually be sucked into the creditors at the head support. The Wall Street Ponzi scheme is built on "fractional reserve" can credit to create the banks, "credit" (or "debt") with postings. Banks are now allowed to give 10 to 30 times their "reserves," essentially counterfeiting the money they lend. ) About 97 percent of the U.S. money supply (M3 was created by the banks in this manner. The problem is that banks createonly the principal and interest are not required to repay their loans, so new borrowers must continually be found to take new loans just to create enough "money" (or "credit") to service contracts, the old loans, of which the money supply. The scramble to find new debtors has now has over 300 years - since the founding of the Bank of England in 1694 - until the whole world are in debt to the banks' private money monopoly gone. The Ponzi scheme has finally got hismathematical limits: we are "all borrowed up."

When the banks ran out of creditworthy borrowers, they had to creditworthy subprime borrowers in turn, and avoid losses from default, they moved these risky mortgages off their books by bundling them into "securities" and selling them to investors. To induce investors to purchase, then, these securities were insured "with credit default swaps. But the housing bubble itself was a Ponzi scheme, and finally, there was no longerBorrowers who were in at the bottom that make the ever-inflating home prices sucked. If the borrower pays an end to end investors buying mortgage-backed securities. The banks were then left holding their own suspect paper and without triple-A ratings, there is little chance that buyers for this "junk will be found" to. The crisis is not in the economy itself, which is fundamentally sound - or it would be with an appropriate credit system to oil the wheels of production. TheCrisis in the banking system, which can no longer cover the shell game it has played for three centuries with other people's money.

The banks will therefore no doubt have a rescue package after another from his pocket deeper than just their own, the U.S. government, but if the government tolerates, even it could be dragged into the voracious debt cyclone of the mortgage mess. The Federal Government's triple A credit rating is already in jeopardy, because of its huge $ 9Trillion debt. Before the government agrees to bail out the banks, it should insist on some adequate quid pro quo. In England the Government has decided to bail out bankrupt mortgage bank Northern Rock, but only in exchange for shares of the bank. On 31 March 2008, reported the London Daily Telegraph that Fed strategists had looked at the nationalizations that saved Norway, Sweden and Finland from a banking crisis from 1991 to 1993. In Norway, according to a Norwegian consultant: "The law was amendedso we to assume 100 percent control of any bank where its equity had fallen below zero. "

Benjamin Franklin SOLUTION

Nationalization has traditionally had a bad reputation in the United States, but this solution might actually an attractive alternative for the U.S. government. Turning bankrupt Wall Street banks into public institutions might the government to get out of debt cyclone by releasing what we enter. Instead of robbing the order to pay Paul, flappingAround in a sea of debt trying to stay afloat by creating more debt, the government might the problem at its source address, it might restore the right to create money to Congress, to which the public body, the sacred obligation has been transferred under the Constitution.

The most brilliant model in our national history was established in the first half of the eighteenth century by Benjamin Franklin in the home province of Pennsylvania. The local government a "land bank" (a bank to issueMoney allegedly backed by land) that the money lent to farmers at a modest interest. Covering the state government created enough extra money to the interest were not established in the original loan, they spend in the economy on public services. The land bank was publicly owned, and the bankers were employed in public service. The interest on their loans has been generated, sufficient to finance the government without taxes, and because the newly issued money came back to was the government, not the resultinflationary. The Pennsylvania banking scheme was a sensible and highly workable system that was a product of American ingenuity, but never a chance to prove itself after the colonies became a nation. It was ironic, because after Benjamin Franklin and others, restoring the power to create their own currency was a chief reason the colonists for independence. Money in the banks for the creation of machine has had two centuries of empirical testing and has proved a failure. Itis time that the sovereign right to create money from a private banking elite and restored to be taken to the American people.