Are You Ready for Future Labor Shortages?

By Barb Bartlein, CSP

People are getting old. Not just in the US but all over the world. The elder population, 65 and older, is the largest growing sector in all developed countries. According to Census Bureau projections, the US elderly population will more than double between now and the year 2050, to 80 million.

As far back as 1960, the American economy has benefited from the huge bubble of ‘baby boomers,’ those born between 1946 and 1964, as a primary source of labor. However, starting around 2010, an enormous demographic shift will begin, resulting in a large increase in the 65 and over age group and a decline in the 20-64 age group. This means starting in 2010 the labor force will begin growing at the same or a slower rate than the overall population.

Read moreAre You Ready for Future Labor Shortages?

Article on Barry Minkow’s Herbalife Investigation

Yesterday the Los Angeles Business Journal did a feature article on Barry Minkow and his investigation of Herbalife (NYSE:HLF) and other multi-level marketing companies. A few snippets from the article, Minkow Targeting Supplement Maker: Former fraudster hectors Herbalife:

Read moreArticle on Barry Minkow’s Herbalife Investigation

No Profitability to “Maintain” at Overstock.com

Sam Antar pointed out this hilarious directive that Patrick Byrne and Overstock.com (NASDAQ:OSTK) received in 2002 from the SEC. (Note that the company has still never had a profitable year. Ever.) From Overstock.com S-1 filed on 03/05/02: “We have grown quickly and if we fail to manage our growth, our ability to generate new revenues … Read more No Profitability to “Maintain” at Overstock.com

Overstock.com is Doing Better if EBITDA is Worse Than They Reported?

This level of logic from the supporters of Patrick Byrne and his supporters is pathetic. Sam Antar has brought up the issue of Overstock.com’s (NASDAQ:OSTK) violation of SEC regulations in reporting EBITDA.

The result of that improper reporting? EBITDA is materially overstated by Overstock.com and the company’s financial results look better than they really are. (Stock price manipulation, anyone?)

Read moreOverstock.com is Doing Better if EBITDA is Worse Than They Reported?

Own a Business? Be Vigilant, Thieves are Lurking

Las Vegas Sun
By Abigail GoldmanNevada’s corporate filing practices part of problem

Richard M. Krawczyk is an expert in idle corporations, dusty businesses sitting on shelves in the secretary of state’s office, maturing like fine wine, waiting for someone to want them.

For a living, Krawczyk — his clients call him “Dr. Richard” because of his Ph.D. in business — teaches people how to acquire these “shelf corporations.” Entrepreneurs want companies that are aged because they look good in the banks’ eyes, and therefore, theoretically, are eligible for larger lines of credit. If you google “business credit expert,” Krawczyk’s is the first name that comes up. His is also the second, third and fourth names.

He’s the wrong person to steal a shelf corporation from.

Read moreOwn a Business? Be Vigilant, Thieves are Lurking

Last week’s articles from WalletPop on AOL


Business tip: Turn your competitor into a collaborator – The story of DHL using UPS to transport some of their packages has a valuable lesson for business owners.

Cautionary tale: Even a gansta rapper needs homeowner’s insurance – Baby momma in living home (against homeowner baby daddy’s wishes) when suspicious fire starts.

Read moreLast week’s articles from WalletPop on AOL

Auditor reveals how risky mortgages were allowed to go through

NPR featured a story on Tracy Warren, an auditor at Watterson-Prime, a quality control contractor who reviewed subprime loans for investment banks before they were sold on Wall Street. (The biggest client of Watterson-Prime? Bear Stearns.) She has over 25 years of experience in mortgage lending and her job was to find bad loans and say no.

Warren says that when she’d reject (kick out) a loan, her supervisors would overrule her and the loan would be approved. She says that they’d justify overruling the kicks, yet the applicants clearly weren’t qualified, often with very poor credit scores or income that wasn’t verified and didn’t pass the smell test.

Read moreAuditor reveals how risky mortgages were allowed to go through