MonkeyCrash

Mortgage Crisis Solution: Motivate Homeowners Like Sales Reps

// October 1st, 2008 // No Comments » // ECONOMY

Mortgage Crisis Solution: Motivate Homeowners Like Sales Reps

Posted By, Allyn Paul

I’ve been convinced that with the current state of the economy, the government needs to act as a charity and give out $700 billion. I just don’t think investment bankers should be the recipients. The charity should go to homeowners, and they should have to “do” something to get it! They should earn it.

In my middle-class, middle-manager mind, the solution is simple: if we could get homeowners to pay their mortgages on time, we’d be out of this crisis in a matter of months. It will not be a quick fix, but it will be a rewarding one.

At my office, when my sales force is lagging for the month, I create a contest to motivate them. More often than not, money is the “hot button” that motivates, and I’ve learned to push that button early and often. So let’s pretend that everyone in the US with a mortgage is a “sales rep” and congress is the “sales manager.”

How can we motivate our reps to not only perform, but excel? Incentivize them!

Basic Incentive Plan

For Anyone with a Mortgage on their Primary Residence: Run an incentive plan for 6 months (November 1, 2008-May 2009) stating, “anyone who makes their mortgage payment on time every month during that period will be sent a check from the government for $8,000 in June 2009.”

This is for anyone with a mortgage: on time, late or whatever.

Acceleration Bonus For Over-Achievers

For Those Behind On Their Payments: If your mortgage is already behind at the start of November 2008, you are not required to catch up to be eligible for the basic incentive above. You just have to make 6 monthly mortgage payments on time during the contest, but instead of the $8,000 being sent directly to you at the end, the money will be sent to your mortgage company on your behalf to cover arrearage and late fees. (anything left over is sent to you)

However, if during the 6 month period you not only make your monthly payments on time but work extra hard and “catch up” or “become current” on what you were behind, you will get an additional $2,000 for each month you were able to become current on. (3 month maximum)

For Those Who Are Making Payments On Time As Agreed Already: If your mortgage is current at the start of November 1, 2008 your incentive is to get ahead! You will be paid $2,000 for every 1.5% of the principle mortgage amount you send in over and above your monthly payment during the 6 months! (4.5% maximum)

Just like any good sales incentive, if at the end of the contest the manager sees it is making clear headway towards the bottom line, it can be extended for another period of time. Sometimes you may also adjust the contest to focus on another area or need.

Congress or the IRS would also need to put some stops in place. For example, anyone participating in the plan would need to register and have their credit run so as to thwart those who would run out and advance credit cards in order to catch up their debts. We don’t want to rob Peter in order to pay Paul. I am sure there are other fail-safes that could be added.

The root of this idea is to teach us all a lesson while stimulating the economy. You see, I don’t believe that the majority of people who are behind on their mortgages are that way because they have to be. I wonder how many people who are over their heads with mortgage debt still have cable television, a flat screen HDTV and a family cell phone plan with unlimited data package?

How many of them are eating fast food for lunch everyday and drinking beers and Vodka on the weekends? So what if they lose their house; they’ll just go find an apartment and stock it up with that same HDTV, internet cell phone, beer and vodka.

On the flip side, you have the honest and hard-working folks out there who do keep their bills current and still afford the finer things in life. They live within their means. The extra money they earn will surely find its way back into the economy in the form of spending, whether on luxury items or lifestyle upgrades; ie: economic stimulation.

Don’t get me wrong, I understand there are people in real trouble in this country. But the truth is most have just not been motivated properly to make their house payments. There truly is no incentive for them to do so, negative or positive.

A sales rep once said to me, “You catch more flies with honey than with vinegar, so motivate us with positives instead of negatives.”

He was right.

So all you lawyers in Congress need to start thinking like middle managers. What can you do to turn around the country’s “sales numbers?” Is it better to inject money into big company coffers, or put it in the hands of the employees/people?

We elected you, and will be voting again soon. Just beware: swallowing vinegar may cause vomiting. So are we gonna get the honey or what?

Allyn Paul is a big company middle manager. He lives within his means; simply.

His blog, Life and Lawns, offers lawn care tips and advice.

Democrats Couldn’t Sell Bailout Bill To Their Own Party, Still Blame Republicans

// September 30th, 2008 // No Comments » // ECONOMY, Featured Articles

The Democrats are blaming the Republicans for the failure of the bailout bill, but perhaps they could have done a better job of selling the bill to their own party. Over 90 democrats voted against the bill.

Here is the voting record:

DEMOCRATS

YEA

Ala. – Cramer, Davis

Ariz. – Berry, Ross, Snyder

Calif. – Berman, Capps, Cardoza, Costa, Davis, Eshoo, Farr, Harmon, Honda, Lofgren, Matsui, McNerney, Miller (G.), Pelosi, Richardson, Speier, Taushcer, Waters, Waxman, CO-DeGette, Perlmutter

Conn. – DeLauro, Laron, Murphy, FL-Boyd, Brown, Hastings, Klein, Mahoney, Meek, Wasserman, Schultz, Wexler

Ga. – Bishop, Marshall

Ill. – Bean, Davis, Emanuel, Foster, Gutierrez, Hare, Schakowsky

Ind. – Donnelly, Ellsworth

Iowa – Boswell, Loebsack

Kan. – Moore

La. – Melancon

Maine – Allen

Md. – Hoyer, Ruppersberger, Sarbanes, Van Hollen

Mass.- Capuano, Frank, Markey, McGovern, Neal, Oliver, Tsongas

Mich. – Dingell, Kildee, Levin, MN-Ellison, McCollum, Oberstar

Mo.- Carnahan, Skelton

N.J. – Andrews, Holt, Pallone, Sires

N.Y. – Ackerman, Arcuri, Bishop, Clarke, Crowley, Engel, Hall, Higgins, Israel, Lowey, Maloney, McCarthy, McNulty, Meeks, Nadler, Rangel, Slaughter, Towns, Velazquez, Weiner

N.C. – Etheridge, Miller, Price, Watt

N.D. – Pomeroy

Ohio – Ryan, Space, Wilson

Okla. – Boren

Ore. – Hooley

Pa. – Brady, Doyle, Fattah, Kanjorksi, Murphy (P.), Murtha, Schwartz, Sestak

R.I. – Kennedy, Langevin

S.C. – Clyburn, Spratt

Tenn. – Cohen, Cooper, Gordon, Tanner

Texas – Edwards, Gonzalez, Hinojosa, Johnson, Reyes

Va. – Boucher, Moran

Wash. – Baird, Dicks, Larsen, McDermott, Smith

W.Va – Mollohan, Rahall

Wis. – Baldwin, Kind, Moore, Obey,

 

DEMOCRATS

NAY

Ariz. – Giffords, Grijalva, Mitchell, Paster,

Calif – Baca, Becerra, Filner, Zee, Napolitano, Roybal (Allard), Sanchez (Linda), Sanchez (Loretta), Schiff, Sherman, Solis, Stark, Thompson, Watson, Woolsey

Colo. – Salazar, Udall

Conn. – Courtney

Fla. – Caster

Ga. – Barrow, Johnson, Lewis, Scott,

Hawaii – Abercrombie, Hirono

Ill. – Costello, Jackson, Lipinski, Rush

Ind. – Carson, Hill, Visclosky

Iowa – Braley

Kan. – Boyda

Ky. – Chandler, Yarmuth

La. – Cazayoux, Jefferson

Maine – Michaud

Md. – Cummings, Edwards

Mass. – Delahunt, Lynch, Tierney

Mich. – Coyners, Kilpatrick, Stupak

Minn. – Peterson, Walz

Miss. – Childers, Taylor, Thompson

Mo. – Clay, Cleaver

Nev. – Berkley

N.H. – Hodes, Shea-Porter

N.J. – Pascrell, Payne, Rothman

N.M. – Udall

N.Y. – Gillibrand, Hinchey, Serrano

N.C. – Butterfield, McIntyre, Shuler

Ohio – Kaptur, Kucinich, Sutten

Ore. – Blumenauer, DeFazio, Wu

Pa. – Altmire, Carney, Holden

S.D. – Hurseth, Sandlin

Tenn. – Davis, Lincoln

Texas – Cuellar, Doggett, Green (Al), Green (Gene), Jackson (Lee), Lampson, Ortiz, Rodriguez

Utah – Matheson

Vt.- Welch

Va. – Scott

Wash. – Inslee

Wis. – Kagen

 

REPUBLICANS

YEA

Ala. – Bachus, Bonner, Everett, Rogers

Ariz. – Boozman

Calif. – Bono (Mack), Valvert, Campbell, Dreier, Herger, Lewis, Lungren, McKeon, Miller (G), Radanovich

Colo. – Tancredo

Conn. – Shays

Del. – Castle

Fla. – Crenshaw, Putnam, Weldon

Idaho – Simpson

Ill. – Krik, LaHood

Ind. – Souder

Ky. – Lewis, Rogers

La. – McCrery

Md. – Gilchrest

Mich. – Camp, Ehlers, Upton

Minn. – Kline

Miss. – Pickering

Mo. – Blunt, Emerson

Nev. – Porter

N.J. – Ferguson, Saxton

N.M. – Wilson

N.Y. – Fossella, King, McHugh, Reynolds, Walsh

Ohio – Boehner, Hobson, Pryce, Regula

Okla. – Cole

Ore. – Walden

Pa. – Peterson

S.C. – Brown, Inglis, Wilson

Texas – Brady, Granger, Sessions, Smith

Utah – Cannon

Va – Cantor, Davis, Wolf

Wis.- Ryan

Wyo. – Cubin

 

REPUBLICANS

NAY

Ala – Aderhold

Alaska – Young

Ariz. – Flake, Franks, Renzi, Shadegg

Calif. – Bilbray, Doolittle, Gallegly, Hunter, Issa, McCarthy, Nunes, Rohrabacher, Royce

Colo. – Lamborn, Musgrave

Fla. – Bilirakis, Brown-Waite, Ginny, Buchanan, Diaz-Balart (L), Diaz-Balart (M), Feeney, Keller, Mack, Mica, Miller, Ros-Lehtinen, Stearns, Young

Georgia – Brown, Deal, Gingrey, Kingsten, Linder, Price, Westmoreland

Idaho – Sali

Ill. – Biggert, Johnson, Manzullo, Raskam, Shimkus

Ind. – Burton, Buyer, Pence

Iowa – King, Latham

Kan. – Moran, Tiahrt

Ky. – Davis, Whitfield

La. – Alexander, Bustany, Scalise

Md. – Bartlett

Mich. – Hoekstra, Knollenberg, McCotter, Miller, Rogers, Walberg

Minn. – Bachmann, Ramstad

Mo. – Akin, Graves, Hulshof

Mont. – Mehberg

Neb. – Portenberrym, Smith, Terry

Nev. – Heller

N.J. – Frelinghuysen, Garrett, LoBiondo, Smith

N.M. – Pearce

N.Y. – Kuhl

N.C. – Coble, Foxx, Hayes, Jones, McHenry, Myrick

Ohio – Chabot, Jordan, LaTourette, Latta, Schmidt, Tiberi, Turner

Olka. – Fallin, Lucas, Sullivan

Pa. – Dent, English, Gerlach, Murphy, Pitts, Platts, Shuster

S.C. – Barrett

Tenn. – Blackburn, Davis, Duncan, Wamp

Texas – Barton, Burgess, Carter, Conway, Culberson, Gohmert, Hall, Hensarling, Johnson (S), Marchant, McCaul, Neugbauer, Paul, Poe, Thornberry

Utah – Bishop

Va. – Drake, Forbes, Goode, Goodlatte, Wittman

Wa. – Hastings, McMorris, Rodgers, Reighert

W.Va. – Capito

Wisc. – Petri, Sensenbrenner

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Obama Takes Full Credit For Bailout, Claims McCain Did Nothing

// September 29th, 2008 // 2 Comments » // Featured Articles

We’ve all been there. You’re at a staff meeting with the boss and as he goes around the room asking for ideas, the guy sitting next to you not only announces your idea to the boss, but takes credit for it as his own. The guy sitting next to you might be Obama.

During a recent interview Obama said that McCain deserves no credit for the tentative bailout, but of course Obama does. The new bill includes safeguards for taxpayers, increased oversight, relief for homeowners facing foreclosure and limits on executive compensation for chief executives of firms that receive government help.

Obama Taking The Credit:

“None of those were in the president’s provisions. They are identical to the things I called for the day that  Secretary Paulson released his package. That I think is an indication of the degree to which when it comes to protecting taxpayers, I was pushing very hard and involved in shaping those provisions.”

Does anyone else sense a bit of arrogance from Obama? To insinuate that McCain did nothing is insulting enough, but then he tops the accusation by claiming that he himself did everything. What will Obama’s next miracle be?

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McCain on AIG and Financial Markets

// September 18th, 2008 // 1 Comment » // ECONOMY, POLITICAL ARENA

As the American tax payers are about to be stolen from again thanks to another bail out due to mismanagement of AIG and greedy CEO’s, McCain proves again that he is the man to fix this.

Statement By John McCain On The Financial Markets And AIG

ARLINGTON, VA – Today, U.S. Senator John McCain issued the following statement on the situation in the financial markets and AIG:

“Today, the government was forced to commit $85 billion to stop the collapse of AIG, another in a growing series of events that includes Bear Stearns, Lehman Brothers, Fannie Mae and Freddie Mac. These actions stem from failed regulation, reckless management, and a casino culture on Wall Street that has crippled one of the most important companies in America. The focus of any such action should be to protect the millions of Americans who hold insurance policies, retirement plans and other accounts with AIG. We must not bailout the management and speculators who created this mess. They had months of warnings following the Bear Stearns debacle, and they failed to act.

“We should never again allow the United States to be in this position. We need strong and effective regulation, a return to job-creating growth and a restoration of ethics and the social contract between businesses and America. Important questions remain to be answered by Wall Street. Did executives mislead investors and regulators about the severity of the problem? We must investigate whether or not there was misrepresentation on part of the company executives. If there was, there must be penalties. We need to change the way Washington and Wall Street does business, and as President I will.”