Curb Your Enthusiasm

No – not Larry David (US)….or even Victor Meldrew (UK).

What Value Freedom?

We complain that banks rip us off – and the delinquencies, write-off and bankruptcies rise. But some places have more draconian collection methods!
KIEV, Nov. 23 – Ukrainians who have failed to pay back bank loans on time may find they are unable to leave their native land under temporary restrictions that took effect over the weekend.

The task of monitoring the observation of the requirements of the law on temporary restrictions on going abroad for Ukrainian citizens, who have debts on credits, was imposed on the State Border Service under presidential decree No. 813/2009 of Oct. 8 on measures to restore the stability in the banking system and a plan of organization of its implementation, which was approved at a cabinet meeting held on Oct. 21.

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Great Foreclosure Deals to be had!!

I really hate hearing that headline – almost as much as that other ad that proclaims if you have more debt than $10,000 in credit card debt, you can save by only paying back a fraction.

Each is at the end of my ethical afford-ability scale: one saying that you too can benefit from another person’s plight – while the latter proclaims that you can create debt then not pay it.

Let’s talk Mortgage Debt.

Having witnessed how banks have been asked (told)  to be more responsible and understanding, I see little real change in the mechanics of getting our economy righted when under or unemployed people have found themselves unable to service their mortgage debt. I don’t even mean those folks who are subjects of a short sale or are underwater, but those temporarily struggling to survive and maintain their roof intact.

I came across a chance meeting recently (call her Customer “A”), and this is a summary of her experiences:

Let’s name Citibank as her mortgage holder. I don’t say they are any worse than most – but as a big player assume they are pretty much visible to us all and a good example. Her mortgage is with Citi.

Customer “A” had lost her job some months ago – had no savings and wants to pay her mortgage. She has intent but no ability. What can she do until she finds work, which is a major stress in her life already?

1. Visit a branch

Being proactive and still not in default with payments she visited her local Citibank branch.

Citi: ‘Call our mortgage rep, here is his cell number – he covers a large territory you know’.

“A”: ‘But I want to talk to a banker not a sales rep. Can he talk about arrears?’

Citi: ‘No. You must talk to the mortgage services area – we can’t help you – but would you like to open a savings account?’

“A”: ‘No, I don’t think you heard me. I m out of work, but thanks, I will call the mortgage services’

Citi: ‘I am sure as a mortgage customer we can open a checking or savings account for you’

“A”: ‘No thanks’.

Citi: ‘How about insurance?’…………………..

You get the picture!!

2. Calling the Mortgage Center

‘All of our lines are busy – please go to www.citibank.com and contact us that way.’

To cut a long story short – she completed a form on line, stating that she was in temporary difficulty. The response was that within 28 days she would receive a contact from the mortgage collections specialist. She immediately noticed that the tone of the communication – even on the website and email became less friendly and more official.

She waited to see what would follow. A month later she decided to email customer services – and a week later received a response that the mortgage center was very busy dealing with overdue customers and she would hear in 6-8 weeks time. That was the backlog!

8 weeks later – out of the blue – she did receive a call. A ‘nice young man’, not a hard-nosed collector called. He asked if her situation had changed – well she thought a job may be in the offing, but no – she was still struggling. He suggested that until she falls into arrears there is nothing the lender would do – thanked her for being proactive but said she would just have to wait till she fell into arrears and then respond to their ‘collections process’. He did say he would call back a month later – but never did.

Now I know that there are clearly more pressing collections cases out there. But when good customers come forward looking for help – a response that says ‘we only care when you fall behind’ is surely not an appropriate caring attitude. She wanted advice, someone to look at options, protect her score, a mortgage rep to be creative. She wanted to be de-stressed. She wanted to talk to another human being face to face.

I guess “A” now expects that the worst case scenario process will follow. She will see her credit score collapse, and if nothing changes in her income, her home fall into foreclosure.

THAT is when the good news ads will kick in that another

“GREAT foreclosure deal is ready to be had”.

It seems to me that this process is bust. The cost of reworking the home mortgage and living with the client through the economic downturn must be less than the recovery and eventual sale of the property. It does nothing for the current homeowner, other than to wipe her out from any good future credit (assuming she finds work). Yes, we see the first time buyer market is becoming busy, tax breaks are being offered to entice new mortgage holders. The Government has got it wrong. I like Obama (I think Obama means ‘nice beach’ in Japanese), but please Pres Obama – look at the current owners and the way that banks are failing to work with them, before you throw tax credits to entice new blood into the mix. It is not about good deals on foreclosures – but about banks standing by their prior good customers, in an attempt to get this economy fixed at the micro then macro levels.

So – which mortgage lender has got it right?

Who out there does care about customers?

Tell me your stories.

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Tymoshenko visits local banks??

Some Ukrainian banks have caught a cold!!

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GREEN (Card) WITH ENVY

(nothing to do with fasEo per se – just a little rant)

I am a foreigner living in the US. An Alien with no permanent residential rights.  A person who invested all his wealth in the US employment, stock and housing market – and therefore suffered!  A non citizen who cannot vote, obtain student loans or consider himself anything but a transient member of society.

But not totally foreign… I do of course pay taxes to the US Fed and State IRS bodies. Thats where I am equal!

Since 2001 – that very sad month in September to be precise, I have attempted to gain a Green Card as the first stage to becoming a little more accepted, and who knows settled. Yet, at every turn, and at times cruel fate, my applications have bitten the dust and the process returns back to GO, for yet another delay or simply lost in the system of backlogs.

I am of course still ‘in status’ and can live and work here – but without ever feeling secure. Imagine how my son feels who has been here since the age of 14, and still is on a semester by semester measure of only living in America until graduation. Then what? And there is my wife – in the next year she will graduate with a top Masters in a sought after profession. But, you’ve guessed it – on our current visa she will be unable to work or of course get a Green Card.

I know that Homeland Security needs to ensure that the borders are maintained somewhat better than before – that Americans are employed over and above foreigners provided that the talent pool is not exhausted. I have no argument with that at all.

But this great country is built on diversity. We chose to come to the US to invest in the society and make our life here. We are welcomed as aliens but have no security of tenure. Everyone needs a little security.

But thats where I get Green. Not eco-green but jealous-green.

I love  my eldest daughter. She, her boyfriend and other talented folks, who have recently transferred in from abroad by their employers all landed Green Cards in less than a year!! It can be done.

Did I mention we have one application still in the system. It’s been lodged for close on 5 years. I often choose the wrong line at the check-out too!

That’s why I am Green with envy.

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Golden Goals

It’s about leadership, people and processes. The US 4×400 team had the goal of winning gold.
The US 4×400 team had the best athletes.
The US 4×400 team failed to attain the goal.They dropped the baton – a clear process handover that failed.Not just about processes, but ownership and the transfer.

Goals

As a Tottenham fan – having scored no goals against Stoke – trust me I hold the entire team accountable!! <that may make some sense to Brits who strayed into North London at the weekend – or to ex-pats like me 3,750 miles away>

Goals are surely what we all strive to attain in our private and public victories? What the goal has to be is SMART and the person/people equipped and educated to attain it.

It is about starting with a desired outcome. Imagine getting in the car to drive, but not knowing which road to take to get to the desired destination. The route to the goal has to be well conceived with measurable milestones and realistic objectives. Even if the goals are SMART what typically may still fail is that the management system is not built to support the individual – whether that is in terms of training, communication, review, corrective action, process improvement or measurement.

My biggest worry is that the goals today are not set by the managers – but are more a reflection of the Analysts views and Shareholder greed. We are locked into short term goals (which I submit are often poor) and thereby sacrifice the long term sustainability of business. Weak management and the disabled employee are simply caught in that trap.

But back to the real issue. A goal is 8 yards x 8 feet high. The goal is to put the ball into the opposing goal at least one more time than they put it in yours. Lets hope we remember that at the Emirates this weekend.

The goal is to score a goal in the goal.

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Am I being Ignored?!!

I’m not having a moan – honest. I am just asking myself the question – as we become more socially networked are we also becoming less social? Is what was rude before – or at least considered poor business etiquette now the norm?

Lets start with email. I know we all get tons more than we should. Ciallis and penis extensions – not to mention all that money that I have won or can get from some generous foreign fella. Spam and more bloody spam. Virus upon virus for you non Mac users too. BUT sometimes I get to send a real email. Not as often as would classify me as a spammer, BUT quite often I get no response either. Now, you could say its that nobody wants to respond to me – hard to argue that – or that I have been filtered away – also likely – but damn it, I hate to be ignored. So why can’t we all take a step back and say I will clear all email daily. Even if its a standard shortcut to a response that says “thanks for your message – sorry cant help”. At least your sender knows it arrived!

Then there is the phone. Or rather the IVR that eventually gets you into a voicemail. I understand that we are all busy people, but on the assumption that we are not answering email – can’t we just get a human to pick the phone up occasionally? Then – as happened to me last week with my local garage – when I get through after about 6 hours and as many messages to the service desk – not a ’sorry’ comes forth. Are we all too damn self centered to actually admit a mistake and say “SORRY” when its due? But wait – when I am in the garage and talking to my service agent – the phone on his desk rings and… yes he answers it ! I’m now placed in the queue but I am actually there … face to face.

The mobile, cell phone or ‘handy’ is of course the new teddybear to cuddle and hold wherever you go. How did we arrange our lives before we were digitally connected across the airwaves. Did we do so little, plan so far ahead and achieve much less (socially)? I admit here that I am a crack-berry of the worst order. I check email in my sleep. Desperately trying to get connected to someone – oops here comes another viagra email. How do they know?

When I am looking for work, I cannot get to talk with a recruiter – I am asked to email my resume – I am told that I will only get a response if they see ‘a fit’ – I am also told that most resumes never see the light of day. I don’t get a response. Clearly I don’t fit!

I go shopping to my local store. I can of course check myself out – scan as I go, or at the checkout. I elect for Face to face. Sometimes I actually get a short conversation – but often am a by-stander as the cashiers discuss their social life across the aisle, while my goods are being zapped and bagged. THEY HAVE A SOCIAL LIFE. No eye contact – just a scan of my loyalty (why?) card and my credit card – and off I go. Faceless and unimportant.

Now my wife has discovered an IM application on her iPhone. No need to talk to the kids or friends – just one liner messages. I am told that its free – so must be better than sms! SMS – bloody hell, thats just email for people who cant type or spell. Infact its another language. Or MMS – pictures are better than words, even simpler.

Facebook – more pictures of people I neither know or care about. Pictures of their friends hiking or getting drunk – usually at the same time. People obsessed with themselves are not being SOCIAL. Sorry – its not a way to make yourself a great fun person to communicate with. Don’t get me wrong – like Twitter and the plethora of open communications sites it has a role – it tells you what is happening and can disseminate vast amounts of data globally in nano seconds. Its a good marketing tool – the BIG companies are all getting so creative to socially sell to us. But guys – its not socially interactive but passive networking. Its one-up-man-ship. Its about getting your dirty laundry out in public – no more.

I believe in 121 marketing. I need personalized contact and meaningful connections. I feel that I am losing touch with reality and now talk and think in sporadic sentences. Am I just showing my age (I recall when the invention of the fax was to be the innovation of the century …. and it was for a year).

I am just asking you the question – as we become more socially networked are we becoming more social? Or are we evolving quickly into disconnected communicators? Able to transfer information, but unable to give a meaningful cuddle and look someone straight in the eye?