Category Archives: Business – Opinion

Reading List July 29, 2005

Reading List July 28, 2005

  • IceRocket’s Secret Weapon (The Post Money Value) — How saying "Thank You" is a powerful business tool.
  • Tracking is Good (A VC) — Value in targeted marketing, and how customer tracking helps.
  • Onfolio – The Buzz Process (The Post Money Value) — Blogs change the landscape for getting testimonials and paid placement.
  • Cheap Shot in a Good Cause (Moore’s Lore) — Why free trade should not be values free.
  • Becoming an Un-Person (Moore’s Lore) — The ID system in the US is broken and Dana’s experience with the local Social Security Administration office is a good example of why.
  • The Christian Paradox (Harper’s via Chewie) — On American Christians and their un-Christian behavior.
  • Wartime Dispatches (Greensboro News & Record) — Stories about soldiers in Iraq who are from Piedmont Triad area.
  • Economics of Used Books (Boing Boing) — Why Amazon.com isn’t stupid for selling used books next to new books.
  • Spin Sucks (Feld Thoughts) — “First we have to decide what the right thing to do is; then we’ll
    think about the politics.  Otherwise we’ll just confuse ourselves. — Richard Snelling”
  • Acceptable Downtime (Feld Thoughts) — Why 99.999% up time may not be enough for online service providers.  Better said would be the importance of redundancy.
  • Delta and the "Internal" Memo (The Post Money Value) — About the absurdity of the concept of an "internal" memo in a company with more than 10 employees.
  • No More AO-Hell (Jeff Jarvis) — Jeff dumps AOL after a 12 year relationship and in the process of describing the dump he gives a cool retrospective on the evolution of the internet.

Reading List July 26, 2005

Reading List July 25, 2005

Credit Card Minimum Payments to Double

According to this article several of the largest credit card issuers are getting ready to raise their minimum payments from 2% of the balance to 4% of the balance (not including interest).

The article says that the government has been pushing the credit card companies to raise their minimums to help people get out of debt.  Huh?  What about tightening up credit issuing standards in the first place?  Even better, how about reducing the interest rates so that they don’t qualify as usury any more?

In somewhat related news (article here) some of the same banks’ stocks were hammered by investors yesterday because of disappointing earnings.  These horrible numbers?  Let’s see:

  • Citigroup – Quarterly net income of $5.07 billion
  • Bank of America – Quarterly net income of $4.3 billion, up "only" 12%

Apparently the companies disappointed their investors because they didn’t manage their bond investments well.  On the bright side, here’s what they did well:

"Bank of America
signed up more debit- and credit-card customers and squeezed costs out
of FleetBoston Financial Corp. by combining the banks’ online accounts,
cutting marketing expenses and jobs.

Kenneth Lewis, the
chief executive, is trying to to parlay momentum in credit cards to
increase earnings. Bank of America announced plans last month to buy
MBNA Corp. for $35 billion."

I guess the expected cash flow from those doubled minimums should help quite nicely.

Today’s Reads: July 19, 2005

Sales Intelligence Summit

groI’m half way through the first day of the Sales Intelligence Summit and I have to tell you that it’s one of the best business events I’ve been to in a while.  You know it’s a good show when the guys taking a bio-break sing its praises over the urinal divider.

The keynoter was Jim Dickie of CSO Insights.  If you are at all interested in sales, the sales process or what differentiates great companies from the rest in terms of sales then you need to check this guy out.  It really was one of the most informative keynotes I’ve heard in years.  While his core audience is people running big Fortune 1000 sales machines, his lessons are of great value to even the smallest company.  He’s also a very good speaker.

Also heard from Dennis Chapman of the The Chapman Group and Dave Roberts of Siebel Systems Users Services.  While both focused on the importance of sales intelligence and the sales process, Dennis spent alot of time on how you can take the subjectivity out of the sales process (make it more measurable) and Dave focused on how you can use sales force automation tools to help your average sales people improve so that they perform more like your star sales people.

Favorite line of the day came from Dave:  "A fool with tools is still a fool."  Of course Dave’s British.

More later.

Message to Mr. Marriott

I’m in Park City, Utah for a couple of days attending the Sales Intelligence Summit.  They were overbooked in the Park City Marriott so they sent me and a couple of other people over to their premier property, Summit Watch, in the heart of town.  And the hotel picked up the tab!

So please hear me when I say this isn’t a complaint.  I mean how can I complain as I sit here in front of a fireplace, in the nicest hotel business center I’ve ever seen, and a view of the mountains to boot?

So say this is an observation that I would gladly share with Mr. Marriott if I were to ever meet him.  I think it’s silly that you’re charging your patrons $20/week for Wi-Fi.  It is so cheap and easy to do that I’m not sure what is gained by it.  There may very well be a good reason, but I have to think that some of the guests feel a little nickle-and-dimed.

Still, what a view!