I got this email from one of my collegues. Sounds like the advice is good and you’ll never know what lies in the future.

Recession is coming……………………..make your own judgment, don’t panic !! Do what is wise.

The recession looks very eminent. It is really time to take pro active steps to avoid a painful time in the next two years which is how long the recession is expected to last.

 Suggestions:

 1. Don’t take any loans, buy homes, properties with loans, or even cash. Keep as much cash as possible.

 2. Pay off as much of personal loans, private loans, as debt collection will be hastened.

 3. Sell any stocks you can even at lower prices.

 4. Take money off from Trust Funds.

 5.  Don’t believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.

 6. Don’t invest in new capital.

 7. If you are selling homes/ properties/ cars , do it now, when you can get good prices, they are going to fall.

 8.  Don’t invest in new business proposals.

 9. Cancel holiday plans using credit cards.

 10. Don’t change jobs, as companies will retrench based on ‘last in first out’.

 Stay cool, wait, and if you took all of the above actions and more, you probably will be better off then   many.

This is not a rumor. Bear Stearns is the first of many banking and financial institutions that will start falling in the not too future. If Bear Stearns can fall, so can JP Morgan, Citibank, HSBC, and the whole world.  US economy falls, the rest will crumble.

India and all those selfeconomies will be the most  protected, but not gullible. Europe may be a little stronger, but not China, another giant! Malaysia will see significant impact.

 This is my personal message to my friends, so if you want to, you can forward this to your friends, but I will not be held liable for any incorrect assumptions.

Popularity: 6% [?]

by - Azim Premji, CEO- Wipro

Every company faces the problem of people leaving the company for better pay or profile.

Early this year, Mark, a senior software designer, got an offer from a prestigious international firm to work in its China operations developing specialized software. He was thrilled by the offer.

He had heard a lot about the CEO. The salary was great. The company had all the right systems in place employee-friendly human resources (HR) policies, a spanking new office, and the very best technology, even a canteen that served superb food.

Twice Mark was sent abroad for training. “My learning curve is the sharpest it’s ever been,” he said soon after he joined.

Last week, less than eight months after he joined, Mark walked out of the job.

Why did this talented employee leave ?

Arun quit for the same reason that drives many good people away.

The answer lies in one of the largest studies undertaken by the Gallup Organization. The study surveyed over a million employees and 80,000 managers and was published in a book called “First Break All The Rules”. It came up with this surprising finding:

If you’re losing good people, look to their immediate boss. Immediate boss is the reason people stay and thrive in an organization. And he’s the reason why people leave. When people leave they take knowledge, experience and contacts with them, straight to the competition.

“People leave managers not companies,” write the authors Marcus Buckingham and Curt Coffman.

Mostly manager drives people away?

HR experts say that of all the abuses, employees find humiliation the most intolerable. The first time, an employee may not leave, but a thought has been planted. The second time, that thought gets strengthened. The third time, he looks for another job.

When people cannot retort openly in anger, they do so by passive aggression. By digging their heels in and slowing down. By doing only what they are told to do and no more. By omitting to give the boss crucial information. Dev says: “If you work for a jerk, you basically want to get him into trouble. You don’t have your heart and soul in the job.”

Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical, but they forget that workers are not fixed assets, they are free agents. When this goes on too long, an employee will quit - often over a trivial issue.

Talented men leave. Dead wood doesn’t.

“Jack Welch of GE once said. A company’s value lies “between the ears of its employees”. 

Popularity: 6% [?]