26 September 2007 
Emotion Trumps Data on CNN’s ‘Your $$$$$’
The numbers are good, but the reporting is fearful.
No matter what the data show, ‘Your $$$$$’ on CNN stays resolutely committed to anecdotal evidence and pessimism.
“When we were talking to people and asking them about The Economy, most said there’s a problem; most said something’s wrong” reported Ali Velshi, co-host of CNN’s ‘Your $$$$$.’ He quoted an unsourced/unnamed man-in-the-street.
Water-cooler scuttlebutt on consumer pessimism now passes for news data.
However people feel about the economy, the numbers are clear. The show’s graphics gave these facts: the Dow is up 10%, NASDAQ is up 10%, the S&P is up 7%.
The Heritage Foundation reports the, “average hourly wages…have risen 3.9 percent over the past year.”
Ignoring any good news from a source such as The Heritage Foundation or from her own graphics, Christine Romans, the co-host, reported “a one in three chance of recession.”
Velshi juxtaposed the “short-term thrill of watching investments go up vs. the long-term risk of lower interest rates.”
Much of the “thrill” may be that home buyers with good credit can get a 30 year fixed rate for 6.29 percent or a one-year ARM for 6.39 percent, again noted in the show’s graphics.
The ‘Your $$$$’ team never explained the “risk” of lower interest rates announced by the Federal Reserve last week. But one of the day’s guests, Ned Riley, from Riley Asset Management, made it clear that the perceived risk of lower rates should not be the possible increase in the rate of inflation. “Inflation is low and going lower [at] two percent,” Riley said.
Riley also cited that in 2003, the Feds were concerned about deflation with a two percent inflation rate.
‘Thrill’ and ‘risk’ were not explained by Romans either. The half point interest rate cut by the Federal Reserve, said Romans, “is a little like chicken soup if you got a bit of a cold, [it] can’t hurt.” The rate cut is, said Romans, “a little bit of a salve, but we’ve got some big issues.”
Even when economic numbers are up or interest rates down, the drumbeat of economic downturn continued on CNN. There must be a cloud in this silver lining somewhere, they seemed to say.
Media critic Michael Medved, at a recent conference hosted by the Culture and Media Institute spoke on changes in news reporting. News reporters, he argues, have changed from “fact tellers” to “truth tellers.” The print reporters — or CNN hosts in this case — report the ‘truth’ as they believe the truth to be. Even if their ‘truth’ is inconsistent with facts.
The Fed cut rates by 50 basis points, a full half percent. And based on this fact, CNN’s guest, Riley predicted a 14,500 DOW at year’s end.
But he got no reaction to this healthy prediction from the CNN hosts.
Can continuous bad news reports cause economic downturns? The evidence is clear that mass marketing does affect consumer behavior. Marketing works toward transference of emotion, moving consumers to avoid pain and toward a pleasurable solution. CNN is pursuing political marketing to make consumers feel the emotion of a “loss of confidence” using continuous bad news.
It is accepted that negative political advertising works for the trailing candidate. This is negative economic advertising by CNN; a network that trails FOX.
During the Depression, Franklin Delano Roosevelt bolstered the consumer confidence of the Nation, encouraging Americans with “We have nothing to fear, but fear itself.” The economic numbers were slow to improve, but the Nation felt better.
CNN does the opposite. The numbers are good, but the reporting is fearful. Communicating gloom seems to make CNN hosts happy.
After guest Peter Beutel of Cameron Hanover spoke of a possible recession, Romans said it was, “depressing.”
But then she smiled and laughed.
###
Jack Yoest, a freelancer for the Business & Media Institute, is president of Management Training of DC, LLC and teaches business at the
10 September 2007
FCC: Is an auction still best to allocate the airwaves?
A wireless company attempts to get sweetheart-spectrum deal from FCC.
CEO does not reveal that he once worked for the FCC on CNN’s “Your $$$$$” on September 8, 2007.
“Do you want to get free wireless internet service?” Asks Ali Velshi, host of “Your $$$$$.” “Well you could, but the Federal Communications Commission dismissed a proposal” to provide this broadband service to everyone, everywhere across the nation.
Velshi was in high dudgeon, “It can’t be true. It sounds like a great idea.”
Guest John Muleta, CEO and Founder of M2Z Networks has a plan to provide this free wireless internet service, if only the FCC had approved his application.
Why did the FCC rule against M2Z? Why oppose free service for consumers? Muleta says he has the answer, “The only people that opposed…are…big telcos who make a lot of money from…wireless broadband.”
Earlier Velshi told the audience, quoting Muleta: “Pressure from telecom giants Verizon and ATT is preventing you from getting a free, fast internet hookup…”
Muleta was a somber, unsmiling CEO with a compelling argument. His company objective is “to provide fast, free, family-friendly wireless broadband Internet connectivity to 95% of the
Velshi offered an answer: the FCC “likes” to auction off broadband spectrum. And, he added, the FCC makes a lot of money from wireless broadband.
Is that really the issue? Since CNN didn’t provide any competing viewpoints, I sought out some perspective on the issue. Frank R. Jazzo, an attorney familiar with the application and M2Z is an expert in compliance with the rules and regulations of the FCC. He said the issue was simple. “As a general matter, the FCC follows Congressional legislative intent [where] the spectrum must be auctioned off.”
Jazzo who is the co-manager at Fletcher, Heald & Hildreth in Arlington, Virginia, explained that the government did not wish to repeat mistakes in the spectrum land rush of years past, where middle men simply acquired at low cost the rights to the public airways, then redirected to companies that would actually create value.
Muleta said his company, “would pay the American public 5 per cent of the revenues” in exchange for a license. This would avoid Muleta’s company from having to compete for the spectrum by bidding and creating the fair market value.
John Muleta was most articulate on the workings of the FCC. As well he should be: CNN didn’t mention that he was the head of the FCC’s Wireless Telecommunications Bureau from 2003 to 2005.
***
The Land Rush of 1889 encouraged settlers to stake a claim on 160 acres. With a caveat: a settler must physically live on and improve the land. Only then could the settler secure the title. But even so, there was rampant cheating. In today’s Spectrum Rush, Congress has decided that the best way to avoid cheating, and to ensure compliance to the public interest, is to license the broadband spectrum to the highest bid
See Washington Post, Selling a Long-Shot Idea: Free Internet Access, Former Regulator Bucking Telecoms, Internet Giants and a Skeptical FCC.
9 September 2007
Management Training Tip #2: Writing an employee evaluation? Try 101 helping sentences.
Academia and the Army have one thing in common.
Yes, there is something. Your Business Blogger is a former Armor Cavalry Officer and is currently an Adjunct Professor of Management, so I was surprised to learn of some overlap.
Perhaps the only intersection is the willingness to share with fellow servicemen or teachers various helps needed for the efficient and effective transference of knowledge.
It is all, well, collegial. For the life of the (military) mind.
A college has two goals — the business of teaching and preparing the student for life.
An Army has two goals — the business of teaching and preparing the soldier for war.
It follows that there are the only two missions that the military should have:
1) Learning to fight and kill and break things, or
2) Fighting and killing and breaking things.
(Sounds like either a firefight or a faculty meeting…)
I recently had a client who was struggling to come up with just the right verbiage for an employee evaluation. I reminded him that this did not have to be an original work of art.
It simply had to be sincere, even if the words were lifted elsewhere. Authentic, even if borrowed.
(This all makes sense when coming from a high priced consultant.)
Your Business Blogger suggested using an old Army briefing book. Remember, it worked for Mitt Romney’s father, George W. Romney who once remarked about being “brainwashed” after a military presentation during Vietnam. It worked for him. It can work for you, too.
For your employees, I mean.
An efficiency report will comment on the employee’s commitment, attention to detail and follow-up.
The best evaluations will outline a sample example of an achievement with a department problem, a solution and the measurable result of the staffer.
One Hundred and One Helping Sentences.
USA Support Command, Saigon Regulation 672-1 Headquarters, USASUPCOM, Sgn 9 Sept 1970, G. White, Armor
[Language has been updated for our modern times.]
1. Through his untiring efforts, devotion to duty and professional knowledge, NAME has accomplished TASK which increased the effectiveness of DEPARTMENT.
2. The timely guidance he gave to all personnel ensured the maintenance of a high standard of SALES/NOUN of DEPARTMENT.
3. The outstanding record of performance by NAME is due to his attention to detail in all aspects of his duty assignments and to his desire for zero defects.
4. His standards of appearance, military courtesy, meticulous attention to detail and his cheerful cooperative approach to all problems and tasks drew favorable comment form superiors and subordinates alike.
5. NAME’s initiative, enthusiasm, inspiring example and devotion to duty contributed significantly to the efficient use of RESOURCE under varying conditions.
6. In his position, NAME has demonstrated dynamic leadership and astute judgement and provided firm guidance and positive direction in fulfilling the missions of DEPARTMENT.
7. The teamwork displayed by the many personnel under his supervision is a prime example of NAME’s outstanding organizational and leadership capabilities.
8. Exhibiting initiative, technical adeptness, sound judgement and comprehensive knowledge in application and implementation of DEPARTMENT’s policies and procedures, NAME executed demanding assignments in a consistently outstanding manner and contributed materially to the successful accomplishment of the TASK.
9. He demonstrated outstanding leadership and managerial ability in supervising the complex and diversified operations of DEPARTMENT.
10. Displaying exceptional professional ability, foresight, mature judgement and logical application of sound management principles, he was outstanding in the successful guidance of the activities of DEPARTMENT.
11. Displaying superior professional ability, initiative and meticulous attention to detail NAME delivered outstanding results for DEPARTMENT.
12. NAME’s foresight, keen analytical mind, sound judgement and enthusiastic approach to the numerous and complex plans, coupled with his great sense of responsibility, initiative and cooperative attitude, have contributed in large measure to the accomplishment of the DEPARTMENT’s goals and objectives.
13. His keen foresight, sound judgement and professional competence enabled him to discharge with superior results the many responsibilities of his position.
14. During this period, NAME demonstrated initiative, enthusiasm, professional ability and a keen sense of foresight in performing his duties controlling the logistics in his job as ASSIGNMENT.
15. Through remarkable foresight and skillful proficient guidance of ASSIGNMENT program, he contributed immeasurably to the successful accomplishment of GOAL.
16. His development of improved systems and procedures in the field of SPECIALTY and the guidance provided by him for the implementation represents a significant achievement.
17. His initiative, resourcefulness and untiring efforts to achieve zero defects in all phases of his duties resulted in increased operational efficiency of the DEPARTMENT by X percentage.
18. His exemplary handling of administrative matters attests to his professional knowledge, willingness to accept responsibility, attention to detail and the ability to adapt himself to any assignment or situation.
19. Through his keen personal interest, initiative and untiring devotion to duty, NAME rendered invaluable assistance in the planning and execution of an improved PRODUCT for the DEPARTMENT.
20. During his tenure in this position, NAME demonstrated exceptional ability, accomplishing many complex tasks through diligence, foresight and sound judgment.
21. Through his capable leadership, he inspired personnel who served with him to such an extent that all assigned missions and tasks were performed in a consistent, exemplary manner.
22. Through sound judgment, professional competence and tenacity of purpose, NAME achieved major improvements in the functions of the TASK/EQUIPMENT.
23. These same qualities, combined with his talent for coordinating the complexities of contemporary administration, gave renewed impetus to the forms management and records administration programs of DEPARTMENT.
24. His devotion to duty and superior knowledge of the many facets of COMPANY support not only resulted in the maintenance of high standards of DEPARTMENT in DIVISION, but also inspired all those with whom he worked.
25. As POSITION/TITLE, NAME demonstrated professional adeptness, exercised sound judgment and displayed unusual devotion to duty.
26. NAME’s talent, display of energy, enthusiasm and sincere devotion to duty earned him the respect of all his associates.
27. As the TITLE, NAME performed his assigned duties and tasks in an exemplary manner.
28. His tact, professional knowledge and sound judgment, combined with his ability to work without supervision and his willingness to work beyond normal office hours, evoked many favorable comments from the managers he assisted and contributed significantly to the successful accomplishment of the DEPARTMENT.
29. He willingly assumed these responsibilities, normally performed by individuals at a higher pay grade, and accomplished the ASSIGNMENT with commendable results.
30. His application of intelligent, sound managerial principles and mature judgment in supervising and implementing major elements of TASK was a primary contributing factor in the success of these important projects.
31. As a result of his exceptionally meritorious service, NAME has clearly demonstrated that he is outstanding among his peers.
32. He demonstrated on all occasions a thorough knowledge of his work and was exceptionally reliable in his resoluteness of purpose.
33. His high standards of conduct, infectious enthusiasm and indomitable spirit was a light of love and joy in his miserable cubicle. [OK, it didn't really say that. Some of this wording is so, um, 1970's.]
34. NAME displayed outstanding professional ability, sound judgment and initiative in all aspects of his assignments.
35. His complete understanding of JOB DESCRIPTION and programs, his keen sense of responsibility, long hours of work, sound training procedures and aggressive support of DEPARTMENT activities served as an inspiration to those whom he served.
36. NAME demonstrated great initiative, superior knowledge of his duties and exemplary business bearing in his capacity as TITLE.
37. His loyalty, trustworthiness, high morals [stay with me now] and ethical conduct set the example for his entire department.
38. His tact, commonsense, professional knowledge and devotion to duty were an inspiration to his associates and contributed significantly to the current high standards of performance of DEPARTMENT.
39. His judgment, integrity and exemplary personal conduct have earned the respect of his peer group.
40. Through initiative, professional competency and devotion to duty, NAME contributed significantly to the effectiveness of the DEPARTMENT.
41. His sound business ethics, neat appearance [yes, yes, it may be better to look good than to perform good. Your Business Composure is your Business Presentation] and cheerful cooperative attitude earned the respect and admiration of his superiors and subordinates.
42. NAME’s untiring efforts, understanding and professional ability were an inspiration to both his superiors and subordinates.
43. His exceptional broad knowledge of administrative and logistical procedures, coupled with his initiative, resourcefulness and willingness to cooperate enable him to perform many any additional duties which assisted the DEPARTMENT and added to the smooth operation of the DIVISION.
44. His unusual and constant devotion to the goals earned him the respect and admiration of all those with whom he served, and contributed materially to the high standards of DEPARTMENT support provided by his unit.
45. NAME exhibited outstanding organizational ability, skillful supervision and exceptionally sound judgement.
46. All facets of his TASK operations received consistently enthusiastic favorable comment by inspecting managers.
47. The initiative imagination, organizational abilities and untiring efforts displayed by NAME contributed significantly to the successful accomplishment of the mission of his organization in support of DEPARTMENT.
48. His conscientious actions, diplomatic manner and astute advice contributed materially to the accomplishment of the mission of DEPARTMENT in supporting of TASK.
49. Through his initiative, professional competency and devotion to duty, he was instrumental in developing an effective PROGRAM.
50. His superb planning ability contributed significantly to the success of the TASK.
51. Through sound advice, tactfully tendered [goodness...] NAME succeeded in establishing a harmonious and effective working relationship with the DIVISION and his staff which resulted in significant progress in the TASK.
52. He displayed initiative, diligence, foresight and sound judgment in maintaining close working relations with the DIVISION and in securing the understanding and support of DEPARTMENT.
53. His ability to resolve many varied and complex problems is evidenced in the success achieved by the DEPARTMENT in improved TASK effectiveness. Through initiative, professional ability devotion to duty [yes, you can use that word, even today] and outstanding leadership he has contributed materially to the accomplishment to the DEPARTMENT goals and objectives.
56. His professional competency, initiative and tact in his dealings with all military and civilian personnel, contributed materially to the success of the TASK program.
67. Exhibiting initiative, resourcefulness and professional confidence, NAME executed demanding assignments in a consistently outstanding manner.
68. His exceptional operational ability combined with his sound recommendations for the development and implementation of new techniques and more productive methods that materially aided his department in achieving and maintaining a high level of operational efficiency, which significantly contributed to the effectiveness of the GOAL effort.
69. NAME’s marked ability, energetic approach and intense personal drive to excel inspired the confidence of his superiors and provided a worthy example for his contemporaries and subordinates.
70. Through professional competence, ingenuity, patience and intense loyalty, he met and resolved the most serious difficulties in DEPARTMENT.
71. He shouldered innumerable important responsibilities for the COMPANY.
72. He succeeded in maintaining a state of high morale that resulted in exceptional work performance in both quantity and quality.
73. His ability, diplomacy and willingness to lend assistance contributed significantly to the successful accomplishment of the mission of his own organization and of the COMPANY.
74. Through untiring efforts, sound judgements, strong initiative and a high degree of knowledge, NAME contributed significantly to the successful accomplishment of GOAL.
75. His commanding aggressiveness and spirited sense fo responsibility were instrumental in combining the many diverse elements of the DEPARTMENT into an effective and coordinated working group, which contributed materially to the raising the efficiency of all activities in DEPARTMENT by NUMBER per cent over last year.
77. His initiative and selfless devotion, coupled with his diplomacy contributed to the effectiveness of the DEPARTMENT.
78. Through his assignment he demonstrated rare and exceptional initiative, resourcefulness, tact and judgment to a degree in keeping with the highest military traditions.
79. Particularly noteworthy was the significant improvement he made in modifying the DEPARTMENT procedures. As a result of his efforts in this area, NUMBER man hours per year have been saved in accomplishing the TASK.
80. With his broad knowledge of technical and administrative procedures and his soldierly dedication to duty, he has achieved an outstanding record in discharging his diverse responsibilities of TITLE.
81. His broad knowledge of COMPANY procedures, professional competence, initiative and sound mature judgement enabled him to accomplish all duties assigned in a superior manner and make a material contribution to the DEPARTMENT.
82. His brilliant workmanship was repeatedly responsible for the high state of combat efficiency and readiness achieved and maintained by these units.
83. By his broad background in DEPARTMENT he has been able to seek out problem areas and establish positive solutions, which helped reduce GOAL to an all time low.
84. His enlightening direction of PROJECT has contributed immeasurably to the health, wealth, welfare and morale of personnel in DEPARTMENT.
85. He performed all important duties in a exemplary manner while displaying at all times high professional competence, strong initiative and unfailing competence.
86. His entire period of service has been marked by a selfless attitude and a willingness to expend his every effort to achieve superior results.
87. He has clearly demonstrated that he is a TITLE of the highest caliber and is outstanding among his contemporaries.
88. His initiative, exceptional knowledge of competitive marksmanship, and willingness to work long hours to achieve his goal, were largely responsible for the outstanding results accomplished by the DEPARTMENT.
89. His exceptional professional diplomacy and outstanding organizational ability resulted in receipt of numerous AWARDS and superior ratings in inspections covering various phases of operations.
90. He has manifested affirmative thinking in accomplishing any given task in an expeditious manner and achieved superior results through his aggressive and whole hearted support.
91. During this period he consistently accepted responsibility for significant and unusual projects well outside the area of normal DEPARTMENT activities. His diligence, talents and devotion were major factors in the successful establishment of the PROCEDURE system and the finalization of COMPANY policy currently uses by DEPARTMENT.
92. He exhibited remarkable ability, initiative, professional knowledge and drive in the development and formulation of the many varied and exacting TASK plans of DEPARTMENT.
93. Through his tact, perseverance, devotion and outstanding performance, NAME substantially furthered the prestige, effectiveness and efficiency of DEPARTMENT.
94. His performance of duties is an example of the highest traditions of COMPANY and his efforts have substantially aided the completion of PROJECT on time and on budget.
95. His broad knowledge of DEPARTMENT procedures, together with his competence and resourcefulness, enabled him to make many material contributions to COMPANY.
96. NAME continually demonstrated outstanding attributes of leadership and performed his assigned duties with the highest possible degree of efficiency.
97. By personal example and leadership and by constantly striving for outstanding performance NAME has been instrumental in the PROJECT.
98. He has consistently been a loyal and determined TITLE giving unselfishly of his time in order to get the job done.
99. He displayed initiative, resourcefulness and outstanding professional ability in all aspects of his assignments.
100. His insight and grasp of COMPANY procedures and his knowledge of his job enabled him to ensure the successful operation of the ASSIGNMENT.
101. NAME’s untiring efforts, devotion and loyalty reflect great credit upon himself and achieved outstanding accomplishments.
The Alert Reader will notice that the preceding 101 helps were all puffery and positive. Marginal employee performance evaluation and appraisal is outside the scope of this article. Hard reviews are the hardest to write and deliver. More on this later.
7 September 2007
Come to the iNetwork2Networth Event Hosted by iConcept Media Group in New York City Oct 18th
Your Business Blogger will be a panelist at the B2B iNetwork2Networth event organized by the iConcept Media Group . If you will be in NYC in October, let’s visit.
The event will be on 18 Oct 2007, from 3 to 9pm at the 5,000 Sq. Ft. Midtown Loft and Terrace, located on 267 Fifth Avenue, New York, N.Y.
Sponsors include:
Inc. Magazine
The New York Observer
Click for more information and to register.
B2B iNETWORK2NETWORTH offers the opportunity for successful small business owners and top business executives to mix and mingle while directly marketing themselves, their products and services to other like-minded business professionals. This event promises to deliver an interactive panel of successful entrepreneurs and business experts who will share their expertise and experiences. Meet and interact face-to-face with a diverse audience of decision makers in a fun and welcoming environment conducive to building business contacts and relations that will last.
This event is targeted towards business professionals, executives, and small business owners, with a focus on increasing your Net worth by Networking. It is an indisputable fact that our Network determines our Net worth. Who you know, and the quality of your relationship with them determines your where your career and business will head. Capitalize on this opportunity!…. Grow your business and reach new heights of career success through this highly anticipated event.
I will have the honor of addressing a number of issues, including,
The Untold Secrets of Strategic Marketing
Networking Your Way to Millions
Building Business Credit and Credibility
Building a Firm Business Foundation
My favorite lede is, of course,
Can the Manager Control Events?
Mark your calendar and plan to join us in New York City on October 18th.
5 September 2007
Managing Management Time™ In The Real World; In Real Life
The mission statement or vision statement of any manager or leader has two simple words, to
Control Events
Simply stated, if the manager is not controlling events, then events will be controlling manager. There is no third alternative.
Many of us begin by trying to efficiently manage our time. William Oncken, Jr. (1912-1988), created his unique MMT philosophy and its humorous and down-to-earth imagery in 1960. He believed that efficiency — the “daily diary” in the manager’s Life at a Glance binder approach to time management — is useful only after the manager is in control of his time in the first place.
But as the Alert Readers knows, each day brings many unexpected interruptions, sometimes so many that managers may not get around to doing what they were planning to do. Of course, handling those interruptions is part of the job.
How the manager handles interruptions determines whether or not he is in control of events. Or whether events are controlling him.
For example, suppose our harried manager has a deadline to meet for a project and he plans to spend the whole day working on it, then his boss calls him in for a three-hour meeting to discuss the status of another project.
What happens to the manager’s plan?
Or suppose a peer or one of the manager’s staff members comes to him with an urgent problem, which must take care of right away to avert a disaster.
In these cases, someone else is determining what the manager does and when he does it, no matter what he had planned. And in the case of the peer or staff member, he might even be doing something that isn’t even his job to do.
Of course, in neither of those cases could he refuse to cooperate on the grounds that he has a plan and must stick to it. That would hurt the organization. And when the manager does something that’s bad for the organization, the employer, it’s also bad for the manager’s career progression.
So managers are caught in a paradox – organizational management versus time management. Managers need to maintain good relations with the people he work with to do his job effectively, but they are precisely the source of the interruptions in which can prevent the manager from doing his job. That paradox and solution is the basis of the Oncken MMT Philosophy.
So here’s the sales pitch:
Your Business Blogger invites managers to Surf the Molecule and explore Our Approach. The Manager will get a preview of what he will learn in attending the seminar:
- how to recognize the paradox in his own job and
- how to deal with it realistically and productively
Contact Your Business Blogger for more propaganda. 