Release Yourself From The Burden Of Debt
Do you feel like you are in debt prison? Are you in financial turmoil wondering how you can continue to keep everything from imploding on you? Did you know that there were actually debtor prisons in America before the Revolutionary War? Robert Morris, a signer of the Declaration of Independence, was imprisoned in the 1700’s for failure to pay debts. The bible also warns against borrowing more than we can afford to pay. Proverbs 22:26-27 says do not be a man who strikes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you.
Credit card use has continued to grow in leaps and bounds. From 1996 to 2005, the total number of bank credit cards almost doubled. In 2004 alone, credit card companies generated $43 billion in fee income from late payment, over-limit, and balance transfer fees. The Federal Reserve reports that the total US consumer revolving debt reached 2.46 trillion in 2007. This large increase in card usage has created a “fee feeding frenzy,” among credit card issuers. The whole credit card industry has really evolved for the benefit of creditors in recent years, with the industry imposing fees and increasing interest rates if a single payment is late. Penalty interest rates usually are as much as 30-39%, while late fees now often are $39 a month and over-limit fees are as much as $35. If you consider how that can add up over just one year, it could be very expensive. Consider this: late and over-limit fees alone can easily rack up $900, and a 30 percent interest rate on a $3,000 balance can add another $1,000. Read the rest of this entry »
You Can Reduce Your Contracting Risks
One frustration all risk managers experience is being brought into the contract process when it is too late to reduce the risk. Only yesterday, I was asked to review a contract for the acquisition of health equipment. When I sent my recommendations back to our contract negotiator I was told “But it’s too late – we already told the supplier that the draft they approved was the final version.”
The best time to negotiate contract terms and conditions is before the contract is signed!
Contract law is complicated, involving numerous federal, state and municipal laws (not to mention internal policies, procedures and protocols!) that apply different conditions depending upon the type and cost of the item under consideration. Read the rest of this entry »
Fundamentals Of Design Professional Malpractice
In today’s litigious society, no profession can escape the cost and aggravation of legal claims and suits. Design Professionals, architects and engineers, are no exception. One important and distinct type of claim or suit is the professional liability or malpractice claim.
A variety of other types of claims and suits may be made against the design professional, such as claims for ordinary negligence, such as automobile liability cases, or slip and falls on the company’s property. There are suits for wrongful employment practices such as discrimination, sexual harassment, or wrongful discharge. Finally, there are suits for commercial disputes over contracts, trade secrets, and patents.
Professional liability claims are unique and distinct from other types of claims because they are made against the professional in relation to the performance of professional services and the specific duties owed by professionals which are not applicable to the public at large. As a result special rules and standards apply to these claims that do not apply to other types of negligence actions. Read the rest of this entry »
New Year’s Planning – Critical Success Factors
Those of you who’ve been following my articles know that I advocate a different approach to this process: Step 1) Learn whatever you can from last year’s results – something many of us forget to do. For example, make 1998 the year you act on the knowledge that it takes six months to train your field reps, not the six weeks you used to allocate. Step 2) Set targets which will excite you and your team and get you out of bed every morning; Step 3) Figure out how to reach the targets in Step 2. Whatever time of the year it is, you have probably set a working direction for the rest of the year, including clear-cut objectives. Your first-iteration plan to reach them should be in place. This now (whatever time it is – if you are thinking about it) seems like an ideal time to rethink the whole thing, doesn’t it? In our sped-up 21st century world, plans are subject to change just as soon as – or perhaps even before – they are written. Read the rest of this entry »
Renting Construction Equipment Is Simple Using It May Not Be!
Those who are “do-it-yourselfers” know that the best and least expensive way to accomplish a task is to pull out the work gloves and get after it. But does that include projects that require construction equipment? There are several things to ask yourself before you decide whether to rent (or buy) construction equipment or to call in the pros.Two of the most important things to consider are cost and size of the project. Have you always wanted a pond? There’s really nothing stopping you from building one if you have enough land and there are no zoning laws restricting it. That’s going to be a pretty big project and you might be surprised how much earth has to be moved to create even a small pond for watering livestock. Read the rest of this entry »
Fire Truck Prepayments – The Basics To Consider
Do you ever wonder why fire truck manufacturers offer prepayment discounts? And the financial implications of prepaying your fire truck? This article helps you understand why they offer discounts and how to analyze them.
Why fire truck manufacturers offer prepayment discounts.
The first question I get asked from hundreds of fire departments is: Why do manufacturers even offer a prepayment discount? It seems like they are losing money. Well, they’re not and I’ll explain why in this article. Read the rest of this entry »
The Benefits of Leasing Your Catering Equipment
When you’re starting a restaurant, one of the decisions you’ll have to make is whether to lease or purchase your catering equipment. You need a lot of equipment, from high-end refrigeration appliances to transportation to tables and chairs, and all that costs money.This is why many people choose to lease, rather than buy, at least in the early days anyway. Read the rest of this entry »
