Archive for April, 2010
Ex-NBA Derrick Coleman is Bankrupt
Posted by Aparicio Giddins in Professional Athletes on April 29, 2010
Derrick Coleman has filed for bankruptcy, saying that he owes his creditors $4.7 million. Coleman was No.1 overall pick in the 1991 NBA draft. This is a sad day for the NBA and Syracuse University. Coleman played 15 years in the NBA and made tens of millions, but reportedly only listed $1 million of valuable assets to his name.
Derrick’s heart was in the right place as he invested heavily into the redevelopment and revitalization of downtown Detroit, but his trouble started when he began defaulting on payments for a mall (Coleman’s Corner). The area was in one of the worst areas in Detroit. What’s worst is that Coleman had to list his available assets, which included his NBA pension, which in it’s earnest amount came in at approximately $90,000. This is a former player that still has probably about 14 years before he can collect on that pension.
I hope the leagues, players unions, and the unversities are taking notes because everytime one of their marquee athletes has financial problems or life skills issues, it leaves a black mark on the leagues, the players unions, the agents, and the university where they starred. It’s not enough to supply an individual with a degree, you have to look at their future and if you provide an education to a star athlete, the university has an moral obligation to provide a life skills and financial counseling program for the athlete that they can use in their life.
These athletes should be involved in my Player Development program (PLADEV™).
5 Great Steps to Interviewing
Posted by Aparicio Giddins in Career Transition on April 27, 2010
This is something that I know how to do very well. I have worked for four Fortune 100 companies and interviewing has become a skill and an stressful event for many people. With high unemployment across the country it is important to understand how to interview because you only get one shot to make a lasting impression. I am currently working on my book, “9 Steps to Finding the Career you Want” and some of these tips come the interviewing section. You are ultimately selling yourself and you have to do it with a limited amount of time. Use these tips to help you land the job of your dreams or in the case of many, to help you get back to work.
Tip #1: Try to relate to the interviewer
It’s not easy to do, but it is a must and the reason is not for the interviewer to like you initially, but to show him or her that you can build a rapport with anybody in a relatively short period of time. Try to discuss more than weather banter. Listen for cues as to where the interviewer is geographically, if it is a phone interview. Ask how their day is going. Relating to the interviewer won’t get you to the next level, but it will get you to tip #2 J
Tip #2: Summarize yourself
What sets you apart from everyone else? What is different about you in person than on paper? You should have a 30 second commercial that is rehearsed, but does not sound rehearsed to provide an interviewer that allows them to see or hear your personality come alive. I make it a habit to give one crazy fact about myself that isn’t on paper.
Tip #3: Quantify and Qualify yourself
You have a certain level of experience, but how can you quantify your experience to the interviewer, you should state something like this, “I’m an experienced sales manager that has worked for a fortune 500 company and I was directly or indirectly responsible bringing in $12 million in revenue in 2009.” With that statement in your 30 second commercial you have instantly gave yourself credibility and created value for the company you are interviewing with.
Tip #4: Research the Devil Out of the Company
If you have a certain interest in a particular company, you should have an idea about what that company does well, where it operates, how it makes money, what’s current in the industry, and the core values of the company. There is nothing worse than interviewing a perspective employee that knows nothing about the opportunity. There are websites that you can use like ZoomInfo that can provide information about the company executives. If it’s a public company, I like using Yahoo Finance to look up information about what’s current, whether the stock is up or down and why. This type of information will help you to seem knowledgeable and also give you information to ask the interviewer questions.
Tip #5: Dress for Success!
We are in a crazy environment right now and some of the values that existed years ago do not exist currently. One of them is dressing for the part. I have interviewed people that just appeared as though they didn’t care. Let be the first to tell you that first impressions are the last impressions. I can remember applying for a job with Apple, Inc. in their retail division to supplement my income from my full-time job and I wore a suit to the interview even though I knew they had a relaxed environment. The goal was to make a lasting impression on the manager. It’s important to shave for all positions to look as professional as possible. We live in a society where it seems that the majority of the people have a tattoo on their body. Unless you are interviewing for a tattoo artist, please refrain from showing the tattoo during the interview. Whether it is a non-traditional or traditional role, I believe the consensus is that what you may call “art,” may not be art in the eyes of many.
Happy job hunting and if you have questions, please feel free to contact me for a free consult.
How To Balance Your Checking Account
Posted by Aparicio Giddins in Financial on April 19, 2010
From daveramsey.com on 11 Mar 2010
In an age where calendars are computerized, photos are files, and documents are downloaded, the humble checking account register is often ignored. But, if you’ll take 15 minutes to balance your checking account, you’ll stay on top of your budget and avoid bounced checks and overdraft fees.
Keep Track
The point of balancing or reconciling your checking account is to make sure you and the bank agree on how much money is in your account. That means you have to keep a record of your spending. The easiest way to do this is to write every transaction in your checking account register when the transaction takes place and keep a running balance.
Another option is to save all your receipts, and either enter your transactions into your register or, if you want to be super-nerdy about it, a spreadsheet. You’ll still need to keep a running balance every day.
The next step is also up to you—you must actually open and read your account statement from your bank. Whether you get your statement by mail or online, you can no longer ignore it. Open it up, and get to work!
The Balancing Act
Start by comparing transactions on your statement with your register. Make a checkmark in your register for every transaction included on your statement. Be sure all entries on the statement are written in your register, including any bank fees or service charges.
If you’ve been keeping good records, you’ll notice transactions in your register that aren’t included on your statement yet. Good job! Start with the ending balance on your bank statement and add the deposits that aren’t on the statement. Then subtract any transactions that aren’t on the statement. The total should match the running balance on your account register.
If the numbers don’t match up, you’ve probably forgotten to record a transaction. Look over your statement and try again. If it’s been a while since you balanced your checking account, you’re probably not going to get it balanced this month. Just total things up the best you can and continue keeping your records. Next month, if you’re off by the same amount, you can assume you’re on track. Just make the correction in your register.
Some Tips
Don’t use ATM receipts as a method of checking your balance. The balance printed on your receipt is just a snapshot of how much is in your account at that moment. It will not reflect any checks, debits, fees or deposits that haven’t posted to your account.
You may find it easier to balance your account a couple of times a month if you have online access to your checking account. The important thing is that you actually do it.
Balancing your checkbook is a lot like working on your budget. It can be difficult to get all the numbers to work right when you first start, but the process gets easier the more you do it. Once it’s done, you’ll feel much more confident.
Budgeting your money also helps you keep control of the money in your account. Check out Dave’s online budgeting tools that you can access at any time!
