article thumbnail

Wells Fargo and the Slippery Slope of Sales Incentives

Harvard Business

The CEO of Wells Fargo, John Stumpf, apologized in front of a congressional panel Tuesday , saying in a statement , “I accept full responsibility for all unethical sales practices.” ” That speaks to why they did this in the first place: To meet sales quotas and earn incentives.

Sales 28
article thumbnail

Mish's Global Economic Trend Analysis: Avalanche of City Debt.

MishTalk

According to Moodys Chicago has $19 billion in unfunded pension liability and faces a "tremendous strain" in meeting their budget and paying law enforcement. Philadelphia : 5th Largest City in US is Effectively Bankrupt; Mayor Holds Closed Meeting With Wall Street to Discuss Asset Sales. 2011-12-20: Capital Account.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Home Prices Drop in 69 of 70 Chinese Cities; Did the Pool of Greater Fools Run Out?

MishTalk

Prices dropped in 69 of the 70 cities in September from August, the National Bureau of Statistics said in a statement today, the most since January 2011 when the government changed the way it compiles the data. Home sales slumped 11 percent in the first nine months of this year. They fell in 68 cities in August. percent annual target.

article thumbnail

High Anxiety Liquidity Trap: Selloff in Junk Continues, Follows Largest Drop Since 2011 on Friday

MishTalk

Only one mutual fund manager, Third Avenue Management, has said it would halt redemptions to forestall having to dispose of assets in a fire sale. Mr. Stein noted fund managers were likely to sell more-liquid holdings to meet the earliest redemptions. Last week, this took on more form even if there weren’t concrete signs of panic.

article thumbnail

Scranton Needs 117% Property Tax Hike to Balance Budget

MishTalk

Though council members did not extensively discuss the PEL letter Thursday, council Finance Chairman Frank Joyce said after the meeting, "The tax increase they (PEL) recommend is far too expensive for taxpayers to handle.". Strategist News : Best Business Blogs 2011. -->. 2011-12-20: Capital Account. 2011-12-29: Max Keiser.

article thumbnail

We May Not Have a Clear Path, But We Each Have One

Harmonious Workplaces

In 1999, rock-and-roll legend Rikk promoted me within six months from sales associate and drum department head at Sam Ash Music to Operations Manager, where I not only led a warehouse crew, but I became the regional trainer on an Oracle-based POS system at the age of 23. References De Botton, A. The School of Life: An Emotional Education.

Hotels 52
article thumbnail

EU officials Give Greece Three Days to Deliver Reforms or Face

MishTalk

Athens and the troika are at odds over an unpopular property tax and a sales tax for restaurants, while a shortfall of more than 1 billion euros has emerged at state-run health insurer EOPYY, meaning automatic spending cuts may have to be agreed to bring it back on an even keel. Strategist News : Best Business Blogs 2011. -->.