Advice
CMA could tell you who the next crunch victims are!
I came across an interesting firm recently – Credit Market Analysis, are part of the massive CME Group. These guys work in the exotic world of Credit Default Swaps (CDS) and provide information, in the form of default probabilities, that gives an indication of who might be the next victim of the crunch.
A default probability essentially gives you a percentage chance of a firm or a country going bust over 5 years. McDonald’s for example has only a 2.6% chance of default- so this looks like a safe bet compared to Clear Channel Communications which has a 79.5% chance of going bust sometime in the next 5 years
So if you are a private investor, or if as part of your business you extend significant credit lines to other firms then it may be worth talking to CMA to see if any of the assets in your portfolio look like they need their last rites read.
Check out their site for more free data www.cmavision.com/market-data.
Related links:
- Credit Flux – Clear Channel continues to rally ahead of improved results.
- The Klaus Kneale Pink-Slip List (P-SL) for January 2009.
- Clear Channel Communications Inc. lay off 1500 today.
- Bad news for at least 18 companies or 21000 jobs.
How to forget the recession for one night?
For one night only (starting for some in a few minutes time). Forget about the recession, the credit crunch, the doom and gloom, the “everyday” bad news, this site (hehehehe)… Have a beer, better still have a Guinness.
Just don’t have too many tonight else if you arrive drunk tomorrow at work tomorrow you may risk losing your job!!!!
Happy St Patrick’s day everyone.
How to NOT become a Crunch Victim in 120 seconds?
Here is some good advice from Dr Richard Dixon on how to survive the credit crunch. It could be anyone with “common sense” standing there telling you what you should be doing.
Recession Risk – Peter Schiff Was Right 2006 – 2007.
I stumbled upon this interesting video. This is a set of clips of Peter Schiff from 2006 and 2007. Here he tells the media what he thinks will happen in 2008 and the future in terms of a recession and the risk of major losses.There are two idiots (Arthur Laffer and Charles Payne) arguing against him. It’s actually quite funny listening to these numpties. They even joke and laugh at Peter Schiff, but he is spot on with his predictions. Definitely worth a watch.
I guess the question we should be asking is where is Arthur Laffer and Charles Payne today? I bet they are not advising people on their finances or being interviewed on TV.
Preparing for a layoff.
Here is a good article by Dawn Rosenberg McKay
When a company is struggling financially its employees could face a layoff. Preparing for a layoff may shorten the period of time you will be unemployed. Here are steps you can take to help keep a layoff from hitting you too hard.
* Having Your Resume Ready: Add new skills as you master them; also include career related milestones and completed projects as they occur; you can always remove irrelevant information from your final version.
* Keeping Your Network Alive: Actively network while you’re still working; check in with members of your network with a quick phone call or email; take the opportunity to help others – they may someday return the favor.
* Sharpening Your Skills: Brush up on your skills or learn some new ones; if you don’t think you have time to attend classes, consider distance learning.
* Taking Time for Yourself: Your emotional well-being will help you withstand the rigors of a difficult job search; keep up with interests outside of work, for example a daily workout, a hobby, or even a weekly manicure.
* Thinking About a Career Change: If you’ve been thinking of a career change, you’re better off pursuing it while you’re still employed; when you lose your job, your priority may be finding a new one as quickly as possible.
