Climbing To The Top With Your Business with Lawrence Tam

Company Layoffs – HSBC Announces Thousands

I definitely was not surprised at the announcement of a record number of company layoffs but when the HSBC claimed that about 30,000 layoffs were set to occur by 2013, I was a little taken back by the amount of layoffs. The HSBC is pretty much the World’s bank when it comes to financing, mortgages and just about any other type of financial transaction worldwide. Even though the bank has seen an increase in the percentage of their sales they have still already let go about 5,000 employees!

Throughout the world HSBC has almost 300,000 employees so that is why some are seeing this company layoff a small amount in contrast to the total amount of people working for HSBC. However, any kind of company layoffs are never easy and can put thousands of people out of work and more.

When it comes down to which departments are getting cut, I can’t quite give you that information yet. Why not? Well simply because the representatives of HSBC are not willing to disclose that information and are simply telling us that the cuts will be made inevitably somewhere throughout the company.

 

Why Company Layoffs Hit So Hard

We all have families, bills, expenses and lives to live and that all requires money. I feel for the next 25,000 employees who are said to lose their positions with HSBC in the next couple of years. This is actually a prime example of why I chose to make money online rather than with an unstable financial institution. HSBC really got hit hard back in 2003 with the housing market started to take a turn for the worse and while they are seeing some slight improvements today, they are nowhere near where they used to sit in the financial tower. (more…)

By Lawrence Tam, ago

China Building Collapse – Check Yourself

Look, stuff happens and when it comes to dealing with people's lives it's vitally important to “measure twice and cut once”. The China building collapse of the Lotus River Garden building is a sad testament that this doesn't always apply.

Tight Schedules
Poor Engineering
Cutting Corners
Ignoring Safety

I believe there have been some workers that didn't make it out alive. This could have been worse and glad there weren't people living inside (if they were that would have been premature since the surrounding areas were still being developed).

I'm just shocked like something like this could happen when you have so many “eyeballs” on the project.

What makes this even scarier is that these so called engineers are spring up building all over the world with building codes just like the one in the picture above (building laying on their side).

(more…)

By Lawrence Tam, ago

How To Retire Early And Tips You Can Use

Even people in their twenties want to know how they can plan to retire early but with the economic states of numerous countries, it is hard to determine is that is a real possibility or not. Sure, you may be able to actually retire at an early age but will the money you be bringing in monthly be enough to cover all of your expenses? Knowing how much money you need each month will really help you out in determining when you can actually retire. I can see why quite a few people get overwhelmed when they research how they can retire early because it may require you to have quite a bit of money. If you really want to know how to retire early one of the best places to start is looking at your own income.

If you have noticed that the income you currently make will not provide enough retirement money to support you then you may need to come up with a Plan B. For those of you who are young enough, you may want to consider doing another job somewhere else in order to make the amount of money in retirement that you will need. (more…)

By Lawrence Tam, ago

US Debt Crisis Is Here

For weeks I had to sit and watch reports on Washington officials in the United States try to come up with a plan to get them out of trouble. I have read online that quite a few people believe the problem started back in 90’s when government officials began to repay debt at a really fast rate which made others nervous. Having too small of a government debt is almost just as risky as having too much debt. However, even though the US debt crisis could be seen from a mile away the US government still took their sweet time trying to come up with a solution.

The real issue is that the Democrats and Republicans just did not want to play fair so to speak. If both parties would have been willing to split the differences in the taxes and cuts the issue could have been handles quickly and without starting huge US debt crisis that could crutch the US for a long time. To avoid any long term issues, the seats were supposed to come up with a way to seal the debt limit by August 2nd and it wasn’t until the wee hours of the morning that day when something was actually decided. Even with this agreement reached, for now, American’s and officials are worried that it will only cause larger debt further down the road and higher taxes on those who cannot afford them.

 

With A Deal Made, Is The US Debt Crisis Over?

Unfortunately countries all over the world are watching as the United States teeter totters on its Triple A credit rating. Some officials have even suggested that this damage is so severe it could turn the US down the same path as Argentina who went from the world’s richest country to just middle class. What I see the US facing now is almost a struggle between the older “baby boomers” and the younger generation in terms of benefits and long term payments (i.e. Social Security).  Needless to say that even with the attempts to bring the economical future of the US back up it seems that the US debt crisis is not over and has done far more damage that I expected it to. (more…)

By Lawrence Tam, ago