To our friends and clients –
If you had an investment choice, which would you pick the government of Kazakhstan or the state of California? The market for credit default swaps says California is 50% riskier. That is just flat embarrassing, but instructive.
Be sure and check out the Hiring Incentives to Restore Employment (HIRE) Act to see if you qualify for any tax incentives. The act was passed on March 18, 2010 and has many incentives for small businesses. Check with your CPA for details.
We just started a YouTube Channel and we have a couple of videos on there from owners of businesses who have prospered while being our client. Great success stories take a few moments and check them out.
Okay…we’ve tried on many occasions to educate you about branding. Here goes one more time. We ran across this old Pepsi ad recently…actually we have it bookmarked on our computer. For some reason we never get tired of watching it.
http://www.youtube.com/watch?v=B02DGmkqDDU
Boy! What a difference a year can make. We recently spent some time on a capital raise for a bank deal in California, which allowed us to get face time with hedge funds in New York etc. Most of these firms are more interested in new deals than in the previous twelve months. Our experience has been these firms lead the general market. This optimism will eventually make it to main street. We are encouraged!
For those who still doubt the power of Social Media, check out this video which has millions of views. Poor dude was so pissed at United Airlines for breaking his guitar he made a couple of songs, which got millions of views. United really screwed the pooch by not making it right, after this came out they begged him to take it down. http://bit.ly/cQsVAq
Last month we sent out a very unscientific poll question which basically had to do with consumer spending and asked the question, would you be spending less, more or the same in 2010. We are glad to see a few of you contributing to GDP. If you plan on spending less and you care to respond, we are curious exactly what you plan on spending less on. Let us know.
In spite of our parsimonious audience, Retail Sales were up more than expected in March, setting up Q1 for a better than expected GDP number. Our existing client volume was up significantly in March, we had a record volume month, and believe this portends well for the economy. Folks, we know what it felt like last March, and things are much, much better. We actually put our money where our mouth is and bought a new Tahoe this month.
In April we will be on panels for the International Factoring Association in Scottsdale, AZ, the Commercial Finance Association in Dallas and presenting at the Austin Entrepreneur Network’s Funding Symposium in Austin. We hope to see you there. Please come and ask softball questions.
Good month for the Democrats = Bad week for the shareholders of several companies who announced several writ
e-downs because of the Obamacare.
o AT&T $1 billion
o Deere & Co., $150 million
o Caterpillar, $100 million
o 3M, $90 million
o AK Steel, $31 million
o Valero Energy, $20 million
o Verizon has also warned its employees about
its new higher health-care costs.
The Dems will be hauling these companies in for hearings in April because their findings “…appears to conflict with independent analyses, which show that the new law will expand coverage and bring down costs.” In other words, they don’t like what the real world has to say about their bill and now they want to intimidate the CEOs to shut up about it. Seems kinda ugly to us.
Bank Failure history over the last couple of years, looks like the system is working pretty well as all of these institutions have gone from weak hands to stronger hands.
o 2008 = 41
o 2009 = 140
o 2010 YTD = 41
Last year Texas expanded its population by 2.0% more than twice the national average. There are now 6.45mm people living in DFW. No wonder Jerry Jones can charge $13 for a hot dog in his new stadium.
As usual Warren Buffet does not disappoint in his annual shareholder letter, if you have not already read it, check it out, he gives CEOs of financial institutions some very sage advice. http://www.berkshirehathaway.com/2009ar/2009ar.pdf
The economy is now on the mend and growing. Any measure of new jobs created shows March was a good month for job creation. Far West Capital funded receivable volume for March was not only bolstered by new fundings from growing companies but our existing client volume was up sharply as many of our clients report demand strengthening.