David and Goliath on the Credit Front

I just received word that the Bank of America had a devastating quarter with a 77 percent drop in profits. It, of course, reminded me of Calvin Brown's recent interview on the Houston Business Show on the subject of the worst companies with whom to have open accounts. Here's a quick list of those banks:

* Bank of America

* Capital One

* Discover Financial

* Verizon Wireless

* WFNNB

* Washington Mutual/Providian

* Americredit

* Diamond Shamrock

* Best Buy

* Citibank

You can read the list with details here.

It appears to be a "David and Goliath" story, with Calvin taking focus on the banking giant. It may be mere coincidence, but we can't help but think people are getting the Credit Restore message.

Above is a recent video interview of Calvin Brown on the credit situation in the United States. Click the video and click "Movers and Shakers" to view this program.

For a copy of the free report, "Why Your Marketing Isn't Working," email Info@HoustonBusinessShow.com and put "marketing" in the subject line.

Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.

What About the Economy?

I was listening to the radio just before my show began today and noted that it was reported that consumer spending was up over the last month. This came as a surprise to the "sky is falling" crowd that dominates the media today.

According to CNNMoney:

Retail sales unexpectedly rose 0.3% last month after a dismal December, the Commerce

Department said Wednesday, easing concerns that the U.S. already has fallen into a recession.
Wall Street cheered the report. The Nasdaq rose 2.3% while the S&P 500 and Dow climbed 1.4%.

Analysts had expected a 0.3% fall following December's 0.4% drop.

Consumer spending, which accounts for 70% of economic activity, is being eyed closely for signs the U.S. is sliding into a recession.

"As the consumer goes, so goes the economy," said Joel Naroff. chief economist at Naroff Economic Advisors. "The good news is that the consumer is not dramatically cutting back on spending, but the bad news is the consumer is not spending at any great pace."

The 1.4 percent increase in the Dow translated into 178.83 points. This is a significant increase for a single day.

The media is now trying to figure out what happened, considering the economy was suppose to be in a total melt down. I have been a contrarian for quite some time. The reality is, last month was the first one in which we actually showed the slightest sign of weakness outside of the subprime crisis. In spite of how great the passion to declare the end of the world, we might be seeing the end of a very short "recession." We will have to wait a while and see.

On a recent Movers and Shakers segment, I interviewed several Advisors from the Houston Business Show about the economy. I found the conversation most informative (click here and then click, Movers and Shakers).

Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.

Wrapping Up 2007

On today's Houston Business Show I visited with Andy Valadez of Marketing Dynamics and Jim Driscoll of the Houston Business Media Group and GoalAchieversClub.com to discuss several things, including how to bring the year to a close with a bang.

Of particular interest was our focus on goals versus resolutions, which is always an interesting topic. At some point virtually all adults have made resolutions, which I define as often vague statements about the way people wish things were. As people age they typically no longer pursue such, not because they don't want the changes, but because resolutions don't work. Enter the need for goals.

The difference between goals and many resolutions is multi-fold:

* Goals are achievable. They are something that the person who makes such is capable of accomplishing. Such isn't always the case with resolutions. This is because resolutions often come with poor planning as they will try to "solve" all of their problems in one sweeping move.

* Goals are quantifiable. This means they are specific and can even include a minimum goal and a superior goal. Resolutions are often vague and lack a specific measure.

* Goals have a specific time frame. They state when the desired changed will be accomplished. Some times the goals are short term, mid term, or long term, but they are always dated. Goals without dates are really mere dreams. This is the most important attribute of goal setting, in my opinion.

* Goals are written. This helps memory and makes one accountable.

They are more attributes to goal setting that Jim Driscoll will be writing about in his blog at HoustonBusinessShow.com. Keep track of his content and other information at the What's New Page of that web site.

The bottom line is that the change you desire is worth pursuing. The best way of pursuing such is through very specific goals.

Kevin Price is Host of the Houston Business Show on CNN 650 (M-F at 11 AM) and can be heard live and online at HoustonBusinessShow.com. Keep up with all of our media activities by subscribing to the Houston Business Review. The above video is of Jim Driscoll, Calvin Brown, and Steve Chaloupka being interviewed by Kevin Price on the Movers and Shakers Segment of the HoustonManufacturers.com TV Show. Each are Business Show Advisors at HoustonBusinessShow.com.

What are the Five Worst Credit Card Companies?

According to Calvin Brown (of Credit Restore, Inc.), Houston Business Show Advisor on Credit Strategies, you are going to recognize them immediately.

On Friday's Houston Business Show (M-F at 11 AM on CNN 650), I interviewed our new Houston Business Show Advisor and Calvin pointed out the five worst credit card companies.
Here’s a quick run down of the five companies that have a reputation of destroying a client’s credit and even their financial reputations:

* Bank of America. The largest bank of America has a terrible reputation at damaging one's economy. The purchase of a smaller credit firm has weakened the economic structures of the larger company.

* Discover Financial. One of the hardest cards to get is one that you might want the least.

* Capital One. In spite the nifty commercials that position themselves as the savior of credit card users, they have a reputation of worsening one's credit situation.

* World Financial Network National Bank (WFNNB). You don't know this company because they underwrite the credit efforts of many other firms. But when you get something financed, they might be the ones underwriting it.

* Washington Mutual/Providian. Another company that has suffered from the practices of its acquisitions.

These companies’ are all noted for being unforgiving, rude customer service, overextending credit, and weak ID theft controls.

Calvin went into detail on these companies and has developed a report that he is making available upon request plus five others. For that list of the top ten and details why they were chosen, ask for a report at Info@HoustonBusinessShow.com.

Kevin Price is Host of the Houston Business Show, M-F at 11 AM on CNN 650.