Doubletree Hotel Los Angeles - Norwalk
13111 Sycamore Drive, Norwalk, California, USA 90650
Tel: 1+(562) 863-5555 Fax: 1+(562) 868-4486
Directions to our Hotel
From I-5, exit on Norwalk Blvd and continue on Norwalk Blvd. Make a right on Civic Center/Metro Center Drive and turn right on Sycamore Drive.
Meet The Director at the Lobby with Your Guest
Generation Y: the new depression generation?
On Monday November 22, 2010, 12:23 pm EST
By Alina Selyukh
NEW YORK (Reuters) - In college, Matthew Bergh was ahead of the curve, working part-time at a local Starbucks and setting aside a few thousand dollars a year to do what his parents taught him to do -- invest.
In 2008 the markets crashed and the recession interrupted his financial dreams. "As of right now, I can't invest," Bergh said. "I'm saving."
Eighteen- to 30-year olds, known as "Generation Y," have taken a more conservative approach to managing their money -- stashing it in a savings account or under the proverbial mattress.
This generation of investors came of age during a succession of economic earthquakes. They witnessed the dot-com implosion of 2000 and the more recent onslaught of plunging housing prices, the credit crisis, recession, double-digit unemployment and an annihilation of investor wealth.
"The younger generation has not seen a good stock market over their adulthood," said Gordon Fowler, chief executive of Glenmede, a Philadelphia-based wealth manager for rich people. "That had to have some impact on the psychology of younger investors."
Bergh, 22, started looking for a job in January, and sent out more than 200 applications. After graduating in May, he did what thousands of young Americans have been forced to do: he moved back in with his parents and took an internship with Microsoft Corp. His job search continues.
Among his other ways to conserve cash, he has postponed his investments.
Leslie Barrie, a 26-year-old journalist in New York, followed a similar path. After graduating from college in California, she moved in with her parents and pursued low-paying internships before she went to graduate school.
"I try to save as much as possible," Barrie said. She wants to invest for her retirement, but the markets have discouraged her from doing anything other than keeping a savings account.
Even those who work in capital markets are leery.
One 28-year-old man who declined to be named because he is a hedge fund vice president said five years ago he kept about 10 percent of his finances in cash. Now, he keeps 70 percent.
LEARNING GRANDPARENTS' LESSONS
Generation Y's views on money echo that of another generation -- their grandparents. Many of those people learned the value of saving and frugality because they grew up in the wake of the 1929 market crash and the Great Depression.
By contrast, their parents -- the Baby Boomers -- were buoyed by several major bull markets, soaring home values and the proliferation of easy consumer credit.
"Our parents lived it up on debt and then many of them saw their houses get foreclosed, and that was kind of a shock to us," said Robert Eubank, a 20-year-old senior finance major and equity portfolio manager at a student-run investment group at Towson University in Maryland.
"It put that notion of being prepared for a downturn in their heads."
The impact did not spare those with large financial cushions.
A recent Bank of America (NYSE:BAC - News) Merrill Lynch survey found that 52 percent of young, affluent investors seek lower risks when choosing investment strategies, far outpacing all age groups but one. Among those aged 65 and older, 55 percent said they had low risk tolerance with investments.
The scars from the financial crisis may not heal, either.
Younger investors not only are highly vulnerable to market shocks, but "depression babies" carry the memory of volatile times throughout their lives, said Ulrike Malmandier, a professor of finance at the University of California, Berkeley, who analyzed consumer finance surveys from 1960 to 2007.
The post-crisis generation commonly shied away from higher-risk investments, such as stocks.
"Even 20 years after the financial crisis, the effect will be significant," Malmandier said.
MESSAGE 'NOT GETTING THROUGH'
The job market is adding to young people's problems.
The largest age group at more than 92 million Americans is heavily dependent on their parents' money -- and underemployed. A recent Pew Research study found that a third get financial support from families and only four in 10 work full-time jobs.
As a result, the only investing for many younger adults involves retirement saving plans, such as 401(k)s, often automatically created by employers.
Even with those, Generation Y is the least likely of all age groups to invest in stocks or bond funds, according to a Vanguard Group Inc study of its retirement investors.
"There is a very important message that's not getting through," said Christine Fahlund, retirement planning expert at mutual fund giant T. Rowe Price (NasdaqGS:TROW - News).
"The biggest challenge is how do we get people to stop being affected by complete paralysis and despondency."
The good news for wealth managers is that Generation Y is ready to listen.
"They do actually want to learn; they just don't know how to start the process," said Todd Romer, founder of financial education initiative Young Money.
Romer visited 25 college campuses this fall, encouraging students to invest. PNC Bank, General Motors and others sponsored the tour, according to website.
Bergh, who is finishing an internship in his home town of Fargo, North Dakota, wants to get back to his E*Trade brokerage account and resume investing. For now, however, his optimism is muted.
"I've been trying to figure out, where do I have to cut down on my quality of life, and thinking, is it my fault or part of the macro environment?"
His answer? It isn't really his fault.
(Reporting by Alina Selyukh. Editing by Robert MacMillan)
http://finance.yahoo.com/news/Generation-Y-the-new-rb-1848436735.html?x=0
NEW CONTEST QUALIFICATIONS!!!
UPDATED SATURDAY 11/20/10!!!
1. Fitness Competition
2. Lake Arrowhead "Baller Cabin Party" *** EXTENDED ***
3. Thanksgiving Dinner Party @ Duke & Sheila's OC Estate. (Directors & Above)
*** Qualification UPDATED!! ***
Fitness Competition
Deadline: Friday October 29th, 2010 @ 8pm
NEW LAKE ARROWHEAD PARTY TEASER VIDEO!!
Lake Arrowhead Promo - First Cut from Kaizen Support International on Vimeo.
UPDATED! 11/20/10! Lake Arrowhead Event "Baller Lodge Party"
Monday November 29, 2010
** Deadline Extended to Friday November 26, 2010!! **
Qualifications:
** Non Builders - JUST GO BUILDER and you will qualify
** For Existing Builders and Achievers :
Do qualifier A or B
QUALIFIER A: Must do both STEPS to qualify
STEP # 1 : Make $100 cvp average from last week and this week NOV 8-19
EX.
if $200 cvp was made last week you will need
to do a minimum of $100 cvp this week to qualify
if $100 cvp was made last week you will
need to do a minimum of $100 cvp this week to qualify
if $0 cvp was made last week you will need
to do a minimum of $200 cvp this week to qualify
STEP #- 2: Complete 1 enrollment (must be a active BC, NBCs will not count)
QUALIFIER B :
just get promoted to a rank higher then your current
rank
Directors & Above: Must do step 1 and 2
STEP #1
Get 1 Reps to Qualify in your Downline.
( two Directors cant count the same rep that qualified)
STEP #2 : Choice of Option-A or Option-B
Option-A
Must make $600 CVP from any one of your 1 Business Center
(1 BC cumulative) during the 4 weeks.
Option-B
Must enroll 1 New Associate (Active BC, not NBC)
Must make $400 CVP from any one of your 1 Business Center
(1 BC cumulative) during the 4 weeks.
Thanksgiving Party Potluck @ Duke & Sheila's OC Estate
Directors & Above Only | Sunday November 28th, 2010
New Qualifications as of Monday November 22nd!
* $500 in CHF Donations!
OLD Qualifications:
1. Must be a Director & Above.
2. Must Pass Written Exams:
3. Must Pass Sparring Exams:
Duke wants to make sure whoever is coming to the house is:
* If these events do well, there might be a Year End December Event.... Stay Tuned!!!
by Walter Palvo
Oct. 26 2010 - 7:14 pm
A Berlin group, Transparency International, released their rankings of government corruption and the U.S. dropped from its previous ranking of 19 down to 22. This data excluded the likes of Madoff and Sanford, but it does not bode well for the way
business/government works here in the U.S. This news also comes as we head to the polls to pick our next leaders who have hopes of lifting us to a more respectable ranking in the world.
I was taken back by this data and then I thought there were a few things that need to be cleaned up in business before we get to the tougher issues of cleaning up Wall Street, overhauling banks, and evaluating how bonds are rated. Here is a list I came up with that should be easy for us to address to begin to move the good ole USA back up in the rankings:
Anything that has “Shipping and Handling” – Items that are purchase off of television ads or the internet are wonderful and so cheap…and they are delivered to your door. The items are always presented in their best light and you don’t have to go through the trouble of seeing it in person. So when I saw a large ad in USA Today there was another must-have item, The Amish Fireplace. No matter that the Amish would never use such a device (it being electric and all) or that you can buy the same space heater for $20. This electric fireplace is encased in an Amish cabinet for $298 (plus $50 shipping and handling and another $36 for the extended warranty). Is there someone at the Postal Service who could look at product and its “shipping and handling”.
Companies That Reduce Your Debt To The IRS – It is so difficult to call the IRS so why not pay someone $600 to get the information for you that is otherwise time consuming and FREE. You make a payment to a fine service like American Tax Relief (unfortunately shut down at the moment by the federal government, but there are others). These services call the IRS, I think, tell them how much you owe and even forward the form for you to begin paying the IRS over a specified period of time. It does give one peace of mind. Has the IRS thought about calling one of these companies to at least get their client list?
Products Promoting The Acai Berry – One always saves the best for last and what better way to improve your health and put money in your pocket than by being a part of the Monavie team. This multi-level marketing program not only offers juices with the healing powers of the Acai Berry, but puts you face to face with customers (aka friends and family members) who will help spread the word and buy the product. Is anyone at the Food & Drug Administration paying attention?
Prisons are full of people who have ideas about how to rip people off, but I think the best ideas are still out there and right in front of us. Let’s take a hard look at these folks and once we make some progress on these then we’ll be ready to look at something more challenging.
Download Your Reprint Version Here:
http://www.mediafire.com/?3wxw52rg3fdb3tx
Attention All Reps!
We've all heard the term, "knowledge is power". Here in the KAIZEN world, we don't believe in that. APPLIED Knowledge is Power. That's what we believe in. Here are some FREE services to help you in your business & personal finances. Courtesy of Forbes.com. Enjoy!
Financial Services: Tax Preparation
Every year the Internal Revenue Service gathers an army of volunteers to dispense free tax advice and preparation services to the elderly, military personnel and their families, and households making below $49,000 a year.
http://www.irs.gov/individuals/article/0,,id=107626,00.html
Another option: E-mail a question to Turbo Tax before the Jan. 31, 2011, and one of its tax experts will call you back with an answer--free. You only get one question, so make it a good one!
Financial Services: Credit Monitoring
The first step to improving your finances is figuring out where you stand. Get free credit reports once a year from AnnualCreditReport.com. For more consistent checkups, keep daily tabs on your status with Credit Karma.
Inviting Training by Ruby Director, Bryant Jew
Advanced Basic Invite Script
1. Greet! Hi, how are you doing?
2. Check the call. Is this a good time to talk? If not, call at a better time.
3. Sense of Urgency I don’t have too much time to talk right now…
4. Small Talk. F.O.R.M. (Family, Occupation, Recreation, Money) and Identify an Action Motivator (Hot Buttons).
5. Peak interest. If there is a way…would you be interested?
6. Qualify. Are you serious or are you kidding?
7. 2 Facts about the Company & 2 Facts about the Industry.
8. Edification – Raising the influence of another person (Talking good of someone else) I just got introduced to (Edify Team Leader). he/she is looking for a few sharp people that I trust and I thought of you. Are you interested?
· Expect a YES or NO. Yes: Great! Continue Invite
· No or Excuses: Great, I’ll call someone else.. Hang up Immediately
9. Qualify. Are you serious or are you kidding?
10. Set the Appointment. What 2 days you are available? (Always set the appointment within 48 hours of the next presentation, Example: Monday or Tuesday?)
11. Sense of Loss Of Opportunity. He/She is real busy so let me see what I can do, because he/she is not looking for everyone.
12. Qualify. Your serious right?!? (3 Times)
13. Set it in Stone. OK, it is set in stone, so don’t flake, because if you do, I will lose so much credibility with him/her, Credibility is like credit, once you lose it, it is very hard to get back. SO DON’T FLAKE!. I’ll pick you up at 6:00pm, so dress sharp. He/She will not talk to you if you’re not dress properly.
If they ask questions: I just got introduced to it, I’d rather not explain it. I can tell you this much, It's in an industry that Donald Trump is in. You really need to see this the same way I did! Immediately Qualify them again after this.
Inviting Tips
New Rep Training & Support Blog!
Hi Everyone!
The Downey Team Directors are creating a New Rep Training & Support blog! Stay Tuned for further developments and announcements!
Cal State trustees approve 15% tuition increase
Funds from the two-step hike will be used to add enrollment and classes, officials say. But students say they will be forced to take out additional student loans or defer their educations.
By Carla Rivera, Los Angeles Times
November 11, 2010
As dozens of students protested, the California State University governing board Wednesday approved a two-step, 15% increase in tuition, saying it would use the funds to increase enrollment and classes.
About 40 demonstrators, including students, faculty and staff from several of the university's 23 campuses, held what they called a "protest carnival" outside the Board of Trustees meeting in Long Beach. They urged the board to reject the increase, saying it would force students to shoulder too much of the cost of college.
The increases approved Wednesday will boost tuition for all students 5% for the rest of this school year and an additional 10% for next year. Basic full-time undergraduate tuition next year will rise to $4,884, in addition to campus fees that average about $1,000. The trustees voted overwhelmingly for both proposals. Student fees had already gone up 5% this fall.
Ruben Vazquez, a senior at Cal Poly Pomona, said the higher charges, which follow a 32% increase for last year, will compel him and many other students to take out additional student loans or defer their educations. Vazquez said he gets some financial aid but is also supported by his father.
"They say it's the only option, but they have become comfortable with raising student fees," said Vazquez, 21. "They say they're being affected by budget cuts and the recession, but they're also passing down the burden to those of us affected by the recession."
The tuition increases will raise an additional $27 million this year and $121.5 million next year. Cal State's proposed budget for 2011-12 asks the Legislature to "buy out" next year's increase by adding enough extra funding to the university's budget that students don't have to pay it.
The trustees said the new money was essential to maintain the quality of a Cal State education and would allow campuses to add classes and increase enrollment despite reduced state support in previous years.
"This is a time of a hyper-competitive global economy where we need to have more students have access to higher education," said state Supt. of Public Instruction Jack O'Connell, who is a trustee. "This motion will allow 30,000 more students to have access to college, it will add more courses and more convenient times. A four-year degree will mean a four-year degree."
Several campus presidents also spoke in favor of the tuition hikes.
For Cal State Northridge, the higher charges will mean an extra $11 million for school operations next year, President Jolene Koester said. "It makes a huge difference for academic affairs," Koester said. "How we plan for our students is highly contingent on the actions of this board today."
But many students said they were not persuaded that the higher charges would improve the quality of their educations.
Osvaldo Ortiz, a junior at Cal State Northridge, said that despite previous tuition hikes, he was unable to get into any of the political science classes he needed this semester. "My four-year education plan will probably turn into a five- or six-year plan," said Ortiz, 20. "All students in California are going to be suffering."
Douglas Domingo-Foraste, a Cal State Long Beach classics professor, joined the student protest and argued that the trustees' action would reduce rather than increase access for many students.
"So many students and their families work two or three jobs to be able to afford college, and I think the people on the Board of Trustees have no conception of what it's like to be on the margin," Domingo-Foraste said. "When a student can't take a class because they're having to work more, you're providing less access."
Cal State received $260 million more in state funding this school year than the previous year, as well as about $106 million in one-time federal stimulus money. But officials said those gains failed to make up for previous budget cuts.
Officials said that even with the latest increases, Cal State tuition is lower than at many comparable institutions. And they estimate that 180,000 undergraduates — about 50% — will receive waivers or financial aid to cover the higher amounts.
Officials rejected suggestions that the university is not doing enough to cut expenses. The chancellor's office has trimmed spending by $6 million annually, cut 95 positions and reduced travel expenses by $10 million, said Robert Turnage, assistant vice chancellor for budget.
But with the state Legislative Analyst's Office now projecting a $25-billion shortfall next year, Cal State officials may need to do more, said Steve Boilard, the office's director of higher education.
"Most state agencies don't have the ability to raise money, but Cal State does have the ability to raise fees," Boilard said. "In this budget environment, we'd expect for Cal State, as well as other public agencies, to reduce the costs of what they do rather than increase them."
carla.rivera@latimes.com
Copyright © 2010, Los Angeles Times
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