Masonry Magazine December 1986 Page. 26
WASHINGTON WIRE
A difference between a slow-growing economy and one that's falling.
HOW MUCH LOWER IS THE DOLLAR likely to fall in the months to come? Not much, in the view of currency experts on Wall Street and in Washington. To be sure, Treasury Secretary James Baker would like to see it drop more. But several factors suggest that further stability may be in the offing. Federal Reserve Chairman Paul Volcker feels that it's as low as it need go. Germany and Japan agree; they will intervene to brake any further slippage.
OIL PRICES WILL HOLD STEADY at $14 to $16 a barrel for a few months, despite the OPEC cartel's efforts to raise the price of crude to $19 to $20. That implies slightly higher prices of gasoline and other fuels this winter, after a decline this fall. OPEC doesn't have the clout to do much better.
THE STRIKE IS LOSING ITS POTENCY as a tool in labor's negotiations, which goes far to explain why there are so many fewer of them these days. Industry is under enormous pressure from domestic and foreign competitors to cut costs and wage rates are the most obvious area for large savings. More significant, though, has been the change in the attitude of employers. They are now willing to go head-to-head and to hire permanent replacements.
Organized labor has tended to accept the new realities. Many of its members are willing to cross picket lines to keep jobs. So leaders are now more hesitant to order walkouts than before.
HOW TO DESTROY YOUR BUSINESS-WITHOUT EVEN TRYING
Written with a bit of tongue-in-cheek, the new Report #603, released by the Independent Business Institute, points out that "buried within your business (is) a sort of creeping time bomb which (can) destroy it and ruin your retirement years." This "bomb" is being too busy to give proper planning to developing competent succession.
All too many businesses fold up when the owner retires or are sold at a price which will not provide enough interest/dividend/rent income for a decent retirement-or, almost worst yet, turned over to a successor when there is not enough cash flow to support both the successor and the retired owner.
The report analyzes and presents, with a light touch, the places where too many business owners go wrong and poison their own retirement years: Management-how not to manage your people and develop responsible department heads: Succession-how not to develop a successor and substitute a family war; Selling Out-how to get the lowest price; On Growing Old-how to make it a miserable process.
Report #603 is available for one dollar from the Independent Business Institute, PO Box 159, Akron OH 44309.
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26 MASONRY-NOVEMBER/DECEMBER, 1986