We had a great LIVE show on-location at Maggie’s in Westminster! We wanted to address all the uncertainties in the economy and also answer any questions that may be out there concerning the current market. Our first guest to join us was Kevin McIntyre, Economic Professor at McDaniel College. Kevin joined us on the show last year and made a prediction about what the state of the economy would be like this year. His prediction – it will be BAD. He was right. 

Going forward, he is slightly more optimistic about 2012, because of the new election. It will relieve some uncertainty and will unveil decisions that will be made to move forward. The federal deficits have been revealed and hopefully, there will be actions made.

One of the biggest negative impacts is the job market. Unless the government is creating an environment that businesses can be successful, businesses won’t be able to grow, expand and increase positions.  These types of uncertainties are what keep businesses (and the economy) in jeopardy. Also,

despite a few positive things going on, such as low interest rates and the decrease in housing pricing, the uncertainty that lingers has not helped sustain the real-estate market.

Our next guests was Delegate Justin Ready, serving district 5A which includes, Westminster, Manchester, Finksburg, Hampstead & Silver Run. Delegate Ready explained that issues such as re-districting and tax increases that may directly affect our area. He and his colleagues are fighting to  keep tax payers and business owners as a priority. He also is fighting to keep unemployment rates in check to help business owners.  

He, with the support of the community and followers, was able to petition over 100,000 votes to help fight the legalization of in state tuition for illegal immigrants. The bill will be on the ballad for voters to vote for the bill. Delegate Justin Ready is confident that we can stop the bill because our budget simply cannot handle the magnitude of costs this will create. Ready believes that we need more business owners or people with experience working in a small business or running a small business in office that will fully understand the way to help/hurt business owners.  Go to www.justinready.com for more information about your representative in the House of Representatives!

Maggie’s owner, Jim Brewer joined us for the last segment to explain how stressful for small business owners to think about taking care of employees in such a low economy right now. Generating business doesn’t just affect him , but the other 60 employees that he has. By developing monthly specials and events, he can bring in diners in affordable ways for both the customers and the restaurant.  Steve explained how important it is to spend local. Visit locally owned and operated businesses to keep Carroll County thriving!

Dr. Buzz Baker joined us on the show today to discuss his long career and studies of the aging process. He is currently serves as Director of the Center of Aging at McDaniel college and has been in the field since 1972. At McDaniel, the program is available for students perusing either an undergraduate and masters degree in many various career paths. There are topics touching on many aspects of the aging process in fields such as, biology, pharmaceutical, disease, care, spirituality, and many more.

Dr. Baker discussed how preventing health problems in midlife can lead to a healthier aging process. Devastating diseases such as dementia and Alzheimer’s cant not be predicted, but you can try to prevent them by staying healthy. Other key steps to a healthy old age are to avoid excesses, nutrition, calcium, maintaining blood pressure, weight control and cardio & strength training. These factors may not prevent all threats, but being healthy will help you stay healthy longer.

Steve had the opportunity to attend a major conference in Washington, D. C. with legislators.  Colin Powell was one of the speakers and he shared many great insights; including, his personal rules of leadership.

Colin Powell’s 13 Rules of Leadership

1. It ain’t as bad as you think. I will look better in the morning.
2. Get mad, then get over it.
3. Avoid having your ego so close to your position that when your position falls, your ego goes with it.
4. It can be done!
5. Be careful what you choose. You may get it.
6. Don’t let adverse facts stand in the way of a good decision.
7. You can’t make someone else’s choices. You shouldn’t let someone else make yours.
8. Check the small things.
9. Share credit.
10. Remain calm. Be kind.
11. Have a vision. Be demanding.
12. Don’t take counsel of your fears or naysayers.
13. Perpetual optimism is a force multiplier.

We were pleased to be joined by the interesting Jim Hindman, a successful entrepreneur, the founder of Jiffy Lube, the current CEO and founder of Energy Savers of America and legendary football coach at McDaniel College (then Western Maryland College). Our first question was one Mr. Hindman has been asked a thousand times: how was Jiffy Lube created? He explained that he has already made himself a millionaire by the age of 35 (which we discussed later) and was coaching McDaniel college football. One of his players was expressing his concerns with the job market and how there were no opportunities out there. After a conversation, the player challenged Mr. Hindman to creating another success story. Jiffy Lube was created to “unbundle services” to offer them at a lower rate and focusing on evevry day needs, such as oil changes. He also believed in franchising to give other the opportunity to own a business and jobs to local residence. The rest is history.

 We then began exploring the details and origin of his current project, Energy Savers of America. This company was created because of a number of factors. One of his previous football players had become an executive at IBM and contacted Mr. Hindman about the possibilities available. Mr. Hindman had been following and conducting research on the “fight for freedom from foreign oil”.  The issue was first examined for homes built before energy efficiency was explored. Also, a major goal was to avoid oil importing from overseas. From there, Energy Savers of America was developed as a franchise (like Jiffy Lube) to give Americans self-owned business opportunities, as well as create an energy efficient community. By offering energy audits, Energy Savers will   come to your home to conduct an “audit” to evaluate all the ways how you can save energy and save money by becoming energy efficient.

The ultimate idea is to become self-sufficient when it comes to energy and not reliant on expensive  electric companies. We also discussed some new technology that is not only efficient but all-natural. Mr. Hindman and his associate explained the development of anaerobic digesters that can create up 40,000 kilowatt hours (the average family uses about 10,000 kilowatt hours per year) using manure and other organic compost. It is a process that breaks down methane gas and uses to create energy. Mr. Hindman explains that his background growing up on a farm with horses and cattle helped the development of his ventures. He has always tried to “make something out of nothing”. To learn more about the alternative energy and making your home energy efficient, visit www.energysaversamerica.com.

We also wanted to explore Jim Hindman’s unique success story. He explained that as young as the age of 6, he recognized that the need to work to gain in life was necessary. His family was struggling and he decided to shine shoes and deliver papers to make extra income. He later found his way out of the “economy ghetto” by playing football. His talents took him to new places and opened many doors. In his late twenties, he dove into the field of hospital administration. He quickly advanced. At the age of 30 he was working at the Kansas City Kennedy Space Center in the medical administration department. He got a call from the Vice President…of the United States! Mr. Humphries himself called Jim Hindman to come work an important project at Baltimore County General. Hindman accepted and became very successful. Through his advancements, Mr. Hindman made himself a millionaire by age 35! His hard work, determination and great success are all something to be admired. He continues to lead others and gives inspiration to many.  

Today we keep with our usual theme of being an unusual financial radio show. Our interesting guest, Paul Carney joined us to explain his experiences dealing with dramatic traumas and crippling natural disasters. Of course our first topic we were curious about was the recent catastrophe in Japan. The earthquake/tsunami hit the people of Japan and people across the world were eager to help. Mr. Carney reminded us, however, that it is very important to consider the cultural differences in other societies when attempting to offer assistance. Many times helpers rush in without fully knowing or understanding the circumstances. Paul explained that is important to understand this to avoid further stress or other traumatizing experiences to the people that are in need of help. Cultural differences can range from Macro-Cultures (nations, countries, etc.) to Mico-Cultures (states, counties, towns, neighborhoods). It is vital to learn, understand and respect the culture of the people in need.

Mr. Carney explains how spectators and people who were not physically impacted by a disaster can be vicariously traumatized. People many times want to help in a situation but see many disturbing and damaging sites by doing so. Also, the media often spreads fear and traumatizing visuals to the public. There is a “ripple effect” when it comes to a tragedy. There is a point of impact which hits directly and then the effects slowly spreads to other areas, people and situations.

Paul Carney explained that people interested in helping or donating to people suffering from disasters can visit contact their local Red Cross facility or by looking up information on the FEMA website.

Delegate Justin Ready joined the show over the phone to give us an update on an important issue that we were discussing on the show with him last week. Delegate Ready explained a possible bill to give instate tuition breaks to illegal immigrants. Many people, including Delegate Ready, believe this is a bad idea and unfair to other college students, as well as those who have immigrated legally. It will also be very expensive to fund and could even increase tuition to both in-state and out-of state students . He explained that there is a petition currently circulating to oppose this bill. Go to www.mdpetitions.com to fight this decision, there is a target number of 200,000 signatures to make an impact.

It is important to take precautions in case a disaster impacts your family. Our advice, as always, is how you can be prepared financially.

1. Develop an EMERGENCY FUND. Set aside liquid, ready funds in an easily accessible account like a savings account. This can be helpful to quickly repair damages caused to your home from a natural disaster, or any unexpected financial emergency.
2. Keep cash on hand. It is important to have cash available in case of a disaster that may cause banks to be closed or a power outage that would prevent you from accessing accounts.
3. Maintain a list of all your accounts with the account number and company contact information.
4. Flood-proof important documents. Keep in a safe area in bags or another water-proof container.
5. Use cell phone and email as a back-up record keeper. Keep important phone numbers saved in your cell phone and copy vital information to your personal email for easy access away from home.
6. Be sure to have a fire proof filing system
7. Don’t give all account information/cash/credit cards to just one family member in the event of an emergency. Disperse funds and give cash to all members of your family incase you are separated for any reason.
8. Have an emergency credit card available with no balance and ready for immediate use.
9. Take updated “inventory” pictures of your home, property, valuables, etc. on a digital camera for records. 
10. Have an insurance policy review annually.