WASHINGTON - The Federal Reserve has slashed a key interest rate by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades.
The central bank on Wednesday reduced its target for the federal funds rate, the interest banks charge on overnight loans, to 1 percent, a low last seen in 2003-2004. The funds rate has not been lower since 1958, when Dwight Eisenhower was president.
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To: The Small Business Mole
Thank you for contacting me regarding the Emergency Economic Stimulus Act of 2008 (EESA). I appreciate hearing from you on this important issue. It is one of the most important issues facing this country right now.
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by Jeffrey Moses
Small-business owners need to be informed about every aspect of financing, from bookkeeping to cash-flow projections to securing loans from bankers. While you may not need to be an expert on each of these aspects (and, really, you can’t be unless you have an accounting degree), the more you understand about these vital components of small-business finance, the greater the chance for your company’s success.
The following checklist spotlights the main financial aspects an owner needs to be at least somewhat knowledgeable about. To learn more about any of these, consult with your business adviser, accountant or attorney––or read about them in any of the excellent accounting/business finance books available online or through retail booksellers.
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Filed Under (Education, Financial) by admin on 02-10-2008
First of all we are a small business so if we make 401k matching payments for employees or invest in a plan for our company it’s a big deal. Since we do not have any technical experience in market transactions inside our company we have had to go outside to an local investment firm to make any investments.
The good news is that we have been working with a company, the Shelgren Group, Inc. in Washington State. The current roller coaster ride we are taking on the stock market and in mutual funds is enough to scare the ardent investor. So I’ll pass some things along to you from a customer prospective that we are getting from our investment firm and you should be demanding from your investment firm regardless of the level of your investment fund:
1. Your investment counselor should understand what your threshold level is when it comes to risk.
2. You should have a clear investment strategy that both you and your investor have agreed upon.
3. When the market becomes very volatile, like what we are seeing now, your investment company should be on top of it and communicating any changes in your investment strategy that are made to protect your interest.
4. You should never have a problem in getting in touch with your investment team and getting answers to concerns or questions.
If your not getting this type of treatment, given current market conditions, I would suggest you make an immediate change before you have to pay dearly for poor customer service.
The Business Mole
WASHINGTON - The Federal Reserve has slashed a key interest rate by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades.
