Tax Cuts are a Band-Aid

Tax Cuts are a Band-Aid

There is lots of talk about “Tax Reform” in Washington DC.  If you can ignore the rhetoric and wade through the proposals, then you would see that tax cuts can help boost growth.  However, that boost will be temporary.

In the same process, the tax savings will increase your net after-tax income.  The increase in take-home cash can either be temporary like tax cuts or become permanent.

Spending is the crucial element to balancing the budget if you’re the USA or creating net worth for individuals and families.

(more…)

What’s on Your Scorecard?

What’s on Your Scorecard?

HQ2 is all the buzz and whether your city gets the opportunity to become Amazon’s Headquarters’ #2 or this exercise for civic assessment is needed.

In 2001 Boeing was looking to move their headquarters from Seattle.  Dallas was on the shortlist for the potential move, yet failed to secure the opportunity.

The scorecard for this move exposed that downtown Dallas was dead and had no culture.  Losing Boeing may have been the best thing to ever happen to Dallas.  The snub by Boeing jump-started the revitalization of downtown Dallas.  Klyde Warren Park, the Arts District and the signature bridges over the Trinity River are some of the easy to identify results.

Just as cities do a self-examination on their civic desirability, they should measure themselves against other municipalities.  They must keep score.

(more…)

The 2AM Phone Call

The 2AM Phone Call

It is back to school time.  College parents need to take five minutes to read my blog.  This may be the most important action you take about sending your child to college or a gap-year and I doubt it is on your list.

You’re probably busy with last-minute shopping, packing and worrying about roommates. Here’s one more thing you should do as you prepare for the big separation:

Ask your son or daughter to sign a durable power of attorney and a health care proxy.

Why? – The 2:00 AM Telephone Call.

(more…)

The Triple Liability Threat of College

The Triple Liability Threat of College

The day that you have long awaited or feared is just around the corner.  Your son or daughter is headed to college.  The last few months have been a whirlwind for you and your child since High School graduation.  In the middle of gathering all the items that they may need for college success, I recommend that you schedule some time for planning for you and your family.

Besides graduating from high school, going to college and turning eighteen there comes a new set of responsibilities, liabilities, and potential unknowns.

(more…)

Have you been “Disrupted”?

Have you been “Disrupted”?

Not sure what “Disrupted” is?

Merriam-Webster “to break apart; to throw into disorder”

In the early 1900’s (eons ago) Sears & Roebuck was Amazon.  Catalog retailing—what an innovation.

Today’ Amazon is the ultimate disruptor for retailing, gone are the magical days of “Going to the Mall” as many malls around the country are closing.  There is even a website for all the dead malls – http://www.deadmalls.com/

For every “Disruptor” there, of course, is the “Disrupted”

(more…)

Is your business like Neiman Marcus?

Is your business like Neiman Marcus?

Like athletes, the most successful business thrive under competitive pressure.  Yet, as Warren Buffett says, “it is only when the tide goes out do you discover who’s been swimming naked.”

Two of Dallas’s home grown retail companies are feeling the change occurring in retail.  One has filed bankruptcy and the other is looking for a new buyer.  The landscape is changing rapidly with the online approach to shopping.

The Dallas Morning News reported that in a conference call on Tuesday, March 14, Neiman Marcus CEO Karen Katz said: “while Neiman Marcus remains at the forefront of luxury shopping, people are shopping less.”

“Customers are making fewer trips to the store and the mall and more trips to the web. They want newness, exclusivity and the best price,” Katz said. “Driven by these expectations, and thanks to the information available to them on the web, more and more we are seeing our customers shop multiple stores or websites, not just ours.”

(more…)