Payback time?

Banks are the epitome of "Goodness." Most bank commercials tell us how compassionate and caring they are and how much they help their community and humanity in general. Commercials talk about all the money they have to lend to small businesses. They sponsor sporting events and even have ball parks and stadiums named for them.

Have you noticed lately that banks are spending a fortune advertising on television? Could this be payback time for the outstanding support they got from the media during the big bailouts? The mountain of money the Fed poured into their vaults has been spent acquiring other banks instead of lending to small businesses which would have created jobs.

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Be careful

A judge in Indiana issued a court order for two newspapers and a television station to reveal the identity of an anonymous person who posted allegedly libelous comments on their web sites. Some think such remarks are protected by the first amendment, but one paper immediately complied agreeing that the poster was not a journalist.

Many people believe anonymity will protect them from being identified. But in some states a plaintiff's lawyer can obtain the internet protocol address from the web site operator with a court order. With the popularity of the internet, these cases are becoming more prominent so be careful that what you post anywhere is true.

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From Sir Henry Sumner Maine’s Popular Government (1885)

"Yet nothing is more certain, than that the mental picture which enchains the enthusiasts for benevolent democratic government is altogether false, and that, if the mass of mankind were to make an attempt at redividing the common stock of good things, they would resemble, not a number of claimants insisting on the fair division of a fund, but a mutinous crew, feasting on a ship’s provisions, gorging themselves on the meat and intoxicating themselves with the liquors, but refusing to navigate the vessel to port."

Who can doubt that Sir Henry would be unsurprised by today’s events in Washington, DC? Opposition to what Maine calls “benevolent democratic government” – by which Maine means largely unlimited democracy – does not imply support for dictatorship, oligarchy, or any other form of top down, centralized command. By far the best alternative to unlimited democracy is a system based upon respect for private property rights and for the patterns of market activities that result from such rights.

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New scams

The CIBBB warns of a traffic ticket scam targeting Yahoo email accounts. A woman got an email from the New York State Police requesting she open the attached file, which allegedly contains a copy of the traffic ticket. The file, however, is believed to contain a virus capable of crashing your computer or installing spyware.

Another scam begins with a call to the room of a hotel guest. The caller says they are a hotel employee and the hotel computer system has crashed. In order to complete the hotel audit, they must have the credit card number used to reserve the room. The caller offers a discount on the room for the inconvenience.

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E-mail from a long-time friend

To the Bane Family,

Your 50th Anniversary of being in business falls at the same time Pam and I are having our 50th wedding anniversary so Happy anniversary to both of us. If my memory is correct, I bought my first equipment from you in the spring of 1975. You have always given me good advice, great service and the best equipment and supplies.

I am turning 69 this August and have promised Pam this is my last year to clean carpet/furniture/etc. I got out of the drycleaning business in 1998. I have slowly cut down on number of cleaning jobs the last four years. I have been "cherry picking" who I work for and sending letters to customers that I have serviced for many years.

I cannot say in words how happy I am that I chose going with your System and doing business with all of you and your employees. All of my equipment is aged, but still in good running condition as I have always serviced it when it was time or needed serviced. I would appreciate any advice as how to sell it if possible. Thanks for 35 years or more.

David Worl, Cambridge City, Indiana

Dave,

Thanks for the nice note and congratulations and best wishes on your 50th. May you have many, many more. Elizabeth and I just celebrated our 64th. If I remember, Bill Jr., and I put your first machine in the back of a big station wagon in our back yard. We've all come a long way since then and it's been a grand trip.

Because of some unfortunate situations where sellers misrepresented to buyers and we were caught in the middle, we don't broker sales. We do buy back, but at "wholesale" because we have to refurbish, guarantee the equipment and train the new owner. If you're interested in this, call Don Bane. Some retiring owners have used eBay & Craigslist while some have used the trade magazines to sell their equipment.

Thank you for 35 years of loyal patronage. We've survived for 50 years in business because we've been blessed with customers like you. Everyone on the Bane Clene team wishes you the best in your retirement.

Bill

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Going bananas # 6

A banana is a natural remedy for many ills. When you compare it to an apple, it has four times the protein, twice the carbohydrate, three times the phosphorus, five times the vitamin A and iron, and twice the other vitamins and minerals. It is also rich in potassium and is one of the best value foods around. Bananas might be the reason monkeys are so happy all the time!

The expression "going bananas" is from the effects of bananas on the brain. Bananas contain three natural sugars sucrose, fructose and glucose combined with fiber. A banana gives an instant, sustained and substantial boost of energy and can help us keep fit. It can also help overcome or prevent illnesses and conditions such as constipation. High in fiber, including bananas in the diet can help restore normal bowel action, helping to overcome the problem without resorting to laxatives.

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Inflation talk gains momentum

"As government printing presses and central banks inundate the marketplace with ever expanding supplies of money and credit, the tragic consequences are becoming much easier to see. It is increasingly difficult for politicians to explain away the economic upheaval, social disorder and general erosion of the moral and social fabric attendant on their policies."

No, I didn't say that and it wasn't said recently! That quote is from a book titled, Age of Inflation, by Dr. Hans Sennholz. And it wasn't written this year. It is circa 1979 and should be required reading for everyone in business and especially people in government since they don't learn from their mistakes and they're doing it all over again.

Does anyone remember the double digit inflation and turmoil of the Carter years? Price lists were obsolete before the ink was dry. Inflation was 35. 4% for the three year period of 1979, 1980, 1981. But we shouldn't worry because inflation is only 2%. Try swallowing that lie the next time you buy gasoline, groceries or nearly anything else.

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Same old scam

The following e mail is obviously from the source I warned about earlier. There is also an underlined link (deleted so someone wouldn't accidentally click on it) which may give access to your computer or worse. The IRS does not contact taxpayers via e mail, and note the typos highlighted in red. I don't think even the IRS would put out such shoddy work.

Internal Revenue Service United States Department of the Treasury Your Tax payment (ID: 993749626647), recently initiated from your bank account was rejected by the The Electronic Federal Tax Payment System. Rejected Tax transaction Tax Transaction ID: 993749626647 Reason of rejection See details in the report below:  deleted  FederalTax Transaction Report tax_report_993749626647.doc (Microsoft Word Document) Internal Revenue Service, Metro Plex 1, 8401 Corporate Drive, Suite 300, Landover, MD 20785

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Where have they been?

This was the lead in to a recent newspaper article about our economy: "The near zero inflation era may be ending. Prices are rising slightly, and economists expect a steady climb as the recovery gains steam."

For the past few years, everything we use in our business has gone up, up, up and away. Some prices have increased as much as 40% in one year and yet politicians and their handmaidens in the media insist that inflation if running under 2% per year. They must have their head up...er, under a rock.

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Why is our price higher?

Before we can justify our price to our customer, we must justify that price to ourselves. Have our trucks been washed recently? Do they have the remnants of last week’s lunch complete with empty pop cans? Are they well stocked and is the equipment clean? Would the person we see in the mirror instill consumer confidence? Are our uniforms clean?

Have we kept up with technical changes? Can we design a planned maintenance program for a commercial account? When giving an estimate, do we write it on a scrap of paper or business card or do we use a professional proposal form and nice brochures to explain the benefits of our services?

Some people select a service by what is offered, not by how much is charged. That market is ours if we can justify our price. Fifty years in business has taught us proven methods of pricing and presenting our services to the public. We'll gladly share these with you at our school in Indy. And have you heard? School is free! Register today.

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In memoriam

Robert (Bob) Hughes, one of the founders of Chemspec, passed away in July in Maryland. He was 87 years old. Bob and I had several things in common. We were both WWII veterans who served in the Marine Corps in the Pacific and he lived and loved the cleaning business as I do.

The last time I saw him in person was in San Diego in 1978. Our mutual friend, Howard Olansky of ICS magazine, had arranged a dinner for Bob, my wife Elizabeth and me in an attempt to further a working relationship between our two companies.

A Funeral Mass was celebrated at the Church of the Immaculate Conception in Towson, Maryland with interment at Garrison Forest Veterans Cemetery.

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By the numbers

A brochure from a company that sells mailing lists claims there are 44,532 carpet cleaners in the business. These do not include car trunk and part-time operators who don't advertise. The list company also had a total of 7,105 companies that sell supplies to the carpet cleaning trade.

That means if the market were divided evenly every supplier would have about six carpet cleaning firms as customers to provide equipment, chemicals and peripheral items. We’re proud that Bane Clene has thousands of customers in all fifty states and fifteen foreign countries. We must be doing something right.

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Lots of activity

The newscasts remind us everyday that the economy is slow, but everyone is busy, in fact too busy to even answer their phone. Try calling most companies, doctors' offices or government agencies and you'll get a computerized menu. I called our cable company, punched one for English and finally got to talk to a computer that hung up on me.

Is the economy really slow? Traffic on our streets is bumper to bumper in spite of the recession, the high price of fuel and the reported unemployment. It's near anarchy on the highways which makes me wonder what our streets and roads will be like when the recovery comes and we get that full, robust economy politicians say is coming.

It seems like the whole world is on a smart phone, computer or lap-top, texting, talking to a new friend on Facebook or contacting a new business associate on LinkedIn. I sure hope all of those folks can learn to make a living talking, texting, twittering and tweeting because we don't make many products in this country any more, just lots of talk!

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A prophetic comment

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better." Senator Barack H. Obama, March 2006

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