Fed passes reforms to combat subprime mortgage crisis

FROM THE CHRISTIAN SCIENCE MONITOR

The measures promise to protect borrowers from prepayment penalties and misleading loans.By Ron Scherer Staff writer of The Christian Science Monitor
from the December 19, 2007 edition

New York - The federal regulatory process to fix some of the worst mortgage abuses is now moving ahead with greater speed.

The Federal Reserve, the nation's central bank, voted to take a wide range of actions that might prevent future malpractice, but will likely do little to help borrowers facing foreclosure. The Fed's main thrust appears aimed at banks who made loans to subprime borrowers, those with less than stellar credit ratings, and those who took out loans without proof of income or other documentation.

"This is a huge step," says Kurt Eggert, a law professor at Chapman University School of Law in Orange, Calif. and a past member of the Federal Reserve's Consumer Advisory Council. "If these steps had been taken five years ago we may not have had the meltdown, or at least it would have said there is a sheriff in town trying to force some reasonable basic rules of good lending."

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Employment Outlook in 2008

I thought you might be interested in the thoughts of Lynne Sarikas, director of the MBA career center at Northeastern University’s College of Business Administration, on the employment prospects for 2008:

“We continue to see strong interest from employers in our MBA students despite the economic issues to date,” Ms. Sarikas denotes. “The major reasons they are giving include:

Building management of the future given anticipated retirements in the next few years, need to get the managers of the future in place and trained

Skill set - existing workforce doesn't always have the specific skills needed to grow the business or address current issues, they are hiring students with specific skill sets to meet those demands, we are seeing particular interest in the supply chain/operations area since these are critical issues for many people

Tight labor market - not enough people to fill all the jobs so even without adding positions it is a constant struggle just to stay even, there is significant demand for the best and the brightest, everyone wants them

I had an employer tell me last week "there are more jobs than well-qualified candidates" - supply and demand is still in full operation.

Manila's dirty war

FROM THE INTERNATIONAL HERALD-TRIBUNE

By John Hall

Tuesday, December 18, 2007

A Philippine court has sentenced 14 members of Abu Sayyaf - a militant Muslim organization with ties to Al Qaeda - to life imprisonment for a series of kidnappings in 2001 that resulted in the deaths of two American and several Filipino hostages.

The verdict - along with the deaths of several Abu Sayyaf leaders - seems to justify the U.S. decision to provide support to the Philippine military as part of its global "War on Terror."
But there is a more sinister face to this U.S. ally - a widespread campaign of repression, intimidation, arbitrary detention, disappearances and extrajudicial killings.

Since President Gloria Macapagal Arroyo took office in 2001, an estimated 800 political opponents, human rights campaigners and members of groups and churches critical of her government have been assassinated. Many others have survived assassination attempts. In fact, legitimate opponents or her government are just as likely to be targeted as Muslim terrorists and Communist rebels.

John Hall is an associate professor of law and director of the Center for Global Trade and Development, Chapman University School of Law, Orange, California. He worked previously at Public Interest Law Center in Manila.

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Consumers' Shopping Patterns for the Current Holiday Season

FROM INTIMATE APPAREL BUSINESS

The holiday shopping season is winding down, and we asked the experts to analyze where consumers spent their cash. Northeastern University professor Tony Gao gave IAB the lowdown on how shoppers "spent" their holidays!

New Holiday Shopping Patterns…and Implications for the Intimate Apparel Retailer

By Tony Gao, Assistant Professor of Marketing, Northeastern University College of Business Administration

Retailers of intimate apparel and accessories have been through a tough holiday selling season this winter. Several changes in the U.S. economic situation over the past year have influenced American consumers’ shopping patterns and put the growth of consumer spending in check.

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CALLAWAY GOLF UTILIZES WEBCOLLAGE TO IMPROVE WEB SHOPPING EXPERIENCE

WebCollage, a leading provider of online content integration solutions for manufacturers and their channel partners, today announced that Callaway Golf Company is using WebCollage’s service to integrate product marketing content from its website to the websites of its retail partners.

Callaway Golf, a recognized leader in technology and innovation in golf equipment design for 25 years, looks for ways to make consumers’ shopping experiences as simple and convenient as possible. Callaway Golf selected the WebCollage content syndication solution to ensure that its customers have access to complete, up-to-date information on Callaway Golf and Odyssey products wherever they shop for golf equipment online.

WebCollage seamlessly and automatically syndicates the latest information on a wide range of Callaway Golf products – including drivers, fairway woods, hybrids, irons, golf balls, footwear and golf bags, as well as Odyssey putters – to the websites of Callaway Golf authorized retailers. This gives online shoppers access to dynamic Callaway Golf and Odyssey product showcases designed to help them improve their games by selecting the Callaway Golf or Odyssey equipment that is best for them.

“Content syndication enables manufacturers like Callaway Golf to leverage the investments they’ve made in online product and brand marketing content to educate and influence shoppers wherever they interact with Callaway Golf products online,” said Jed Alpert, Vice President of Marketing for WebCollage. “For retailers, providing thorough marketing content from Callaway Golf helps keep shoppers on their websites and turn more browsers into buyers both online and in-store.”

About Callaway Golf
Through an unwavering commitment to innovation, Callaway Golf Company creates products and services designed to make every golfer a better golfer. Callaway Golf Company, which celebrates its 25th Anniversary in 2007, manufactures and sells golf clubs and golf balls, and sells golf accessories, under the Callaway Golf®, Odyssey®, Top-Flite®, and Ben Hogan® brands. For more information please visit www.callawaygolf.com .

About WebCollage Inc.
WebCollage is the leading Web content integration network for manufacturers and their channel partners — retailers, VARs and distributors. Using WebCollage's patented, turnkey solution, manufacturers can extend their Web product marketing content to all of their channel partners and address the challenge of how to optimize the selling and marketing of products via the Web. WebCollage benefits manufacturers and channel partners alike with measurable bottom-line results including higher conversion rates and larger overall order sizes.

Founded in 2000, WebCollage is a privately held company headquartered in New York, NY, and backed by Sierra Ventures, Cedar Fund, GSI Commerce, Inc., and Gilde IT Fund. For more information, please visit: www.webcollage.com or call 1.212.563.2112.

How to Network: 12 Tips for Shy People

FROM CIO MAGAZINE

Schmoozing is a trial for shy people, but armed with these common-sense tips they can increase their networking mojo.

Meridith Levinson, CIO
December 11, 2007

But networking is a trial for shy people—geeks especially. They view it as insincere at best, manipulative at worst. They eschew networking for a variety of reasons including lack of confidence, fear of rejection and a sense of unworthiness.

If they could just relate to others more easily, if they just possessed more self-confidence and weren't such self-conscious wallflowers, the world would be their oyster, and schmoozing would be so much easier.

It is possible for shrinking violets and shy guys to master the skill of networking. They just have to realize, says Ferrazzi, that successful networking is all about building intimate, sincere relationships based on mutual generosity, not duplicity, and that they can't achieve their career goals on their own. They have to network their way to success.

If you're struggling to meet new people, here's some common-sense advice for increasing your networking mojo.

Start Small

If the idea of approaching people you don't know intimidates you, begin your networking efforts by seeking out familiar faces, such as relatives and friends.

"You can do a significant amount of valuable networking without ever having to make a cold call," says Lynne Sarikas, the director of Northeastern University's MBA Career Center.

"Starting with a known [contact] instead of an unknown demystifies the [networking] process and helps get a shy person over the hurdle." A series of successful conversations will make you more confident in the process, Sarikas adds.

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Figuring Out What You're Worth

Lynne Sarikas, director of the MBA career center at the College of Business Administration at Northeastern University in Boston, shares some of her thoughts on determining your worth in the marketplace:

This is a tough one.

Absolutely do not ask colleagues - that is a taboo. Nothing good comes out of that.

Certainly use your resource - more is available online these days, check tools like salary.com and career beam to see what comparable positions are paying in the area. Type of company will make a difference, geography will make a difference, as well as how much experience you bring to the table. These tools help get you in the ballpark.

One of the best resources is your mentor. They often know or can get a range for the particular position and more importantly they can coach you on how to have the discussion with the boss.

Most people think they are worth more than the company can pay. Important not to draw a line in the sand that is unrealistic. Companies have comp bands to live with, merit budgets and pay equity issues. The boss may not even be able to give you what he or she wants to give you. If you dig your heals in too deeply you may end up having to walk away even though that wasn't what you desired.

I also advise students that salary is just one component of the package. Consider the investment plan, bonuses, health insurance, time off etc. It is the total package which makes up the true compensation.