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The Decline of Community Banks

Per published reports, 90 bank institutions have failed this year. All of them had assets of less than $10 billion, and most were significantly smaller than that. The decline of small banks is not a new trend, but has rapidly increased since the recent collapse began in 2008.
The national banking sector has actually been [...]

Putting Your Best Foot Forward

Let’s face it, we all make assumptions about people we meet based on our initial contact. How many times have we heard our parent or teacher say “you only get one chance to make a first impression”? It isn’t fair and we all know better, but human nature is a hard thing to overcome. So [...]

When the Tweeting Stops

Small Business Owner #1: “You’re not on Twitter, you have to be on Twitter.”

Small Business Owner #2: “Why?”

Small Business Owner #1: “Because everyone’s on Twitter.”

Small Business Owner #2: “If everyone jumped off the Newport Bridge would you do it too?”

Small Business Owner #1: “That’s good. I’m going to Tweet that.”

Brace yourselves because I [...]

Politics as Usual: Candidates Weigh in on 38 Studios

The Rhode Island gubernatorial candidates as well as General Treasurer and Congressional candidates have recently weighed in on their opinions about the $75 million in guaranteed loans from the Rhode Island Economic Development Corporation for 38 Studios. The $75 million loan is exhausting 60% of the $125 million the state has been authorized to lend [...]

Curt Schilling has 75 Million Reasons to Move 38 Studios from Massachusetts to Rhode Island

On July 27, 2010, the Board of the Rhode Island Economic Development Committee, RIEDC, approved $75 million in guaranteed loans to 38 Studios. It is the first use of the $125 million program to create jobs in the Ocean State. The Job Creation Guaranty Program is comparable and a compliment to the Rhode Island Industrial [...]

Cash Flow is King: The Phone Can Be Your Prince to Collections.

In economic downturns, collecting outstanding Account Receivables can take on a heightened level of importance. According to a report published by The Wall Street Journal in July 2010, about 32% of business owners complain that customers are taking more time to pay their bills, up from 27% in 2008 according to a survey of over [...]

Senate Passes Small Business Jobs Bill

Last Thursday, July 22, 2010, Senate voted on a $30 billion bill to create a loan fund for small businesses designed to cut taxes, increase job creation and provide financial aid to community banks. The small business jobs bill will impact millions of small businesses across America, which are the engines that drive the [...]

LeBron James Announcement the Latest in Migration from Hard-Hit Region

“THE DECISION”.
That is how it was billed by ESPN. More people tuned in to see where Lebron James would be playing next season than watched the Major League Baseball All-Star Game. As the long-suffering fan base of Cleveland watched on, self proclaimed “King James” announced to the nation that he would be leaving his [...]

Are We Double Dipping?

You may recall the famous Seinfeld episode where the hapless George attends his girlfriend’s relative’s funeral, only to be ostracized for dipping his already half-eaten tortilla chip into the salsa at the wake. As we know, and George should’ve known, double dipping is not only socially unacceptable, it can cause enough tension to destroy anything good you may have built. Now the question is raised — “Is this true of our economic recovery?”

Economic Impact of Fireworks in Rhode Island

This Fourth of July was a big one for us here in the state of Rhode Island. In early June of 2010, the state legislature passed a law allowing the sale and use of certain types of fireworks in the state. This new law made Rhode Island one of the last states to move away [...]