Banking Industry Politics Of Punishment

The politics of punishment are tricky. Take the playground, for example. The boy in the striped shirt not only pushed your child out of the way at the top of the slide, but also gives your child a good kick for his efforts when he reaches the bottom. You can comfort your own child, but you can’t truly punish the boy in the striped shirt; he is a stranger. You can hope that his parents have a vigilant eye on the playground and will step in and say something, but that doesn’t always happen.

It’s even trickier to punish adults who are acting within legal parameters, if not moral ones. President Obama would like to create a tax to punish banks for effectively taking the bailout money and running. He is calling it a fee, but the proposal is actually for a 0.15 percent tax on the liabilities of large financial institutions. The tax only applies to companies with assets of more than $50 billion, a rather intimate group of about 50. (Reuters)

The tax is proposed to last 10 years and estimated to generate about 90 billion for the government, the majority of that from the ten largest banks. The question is who will really be paying? In all likelihood the banks will use creative accounting to sidestep the tax, as well as share the pain with bank customers in higher fees and tighter rules.

The idea behind the tax is that the Obama administration hopes this fee will give banks and other companies an incentive to whittle down burgeoning balance sheets. Even as President Obama defends the necessity of the bailout in the first place, he has criticized the banking industry for proposing nearly record-breaking bonuses. According to the Associated Press, “Six of the biggest U.S. banks are on track to pay $150 billion in total executive compensation for 2009, slightly less than the record $164 billion in 2007 before the financial crisis struck, according to the New York state comptroller’s office.”

The President is strongly suggesting that banks pay the fee out of the bonus pool, rather than find ways to pass the cost of the fee down to the customer. However, it is more likely that banks will keep the bonuses and find ways around the tax. Some of those solutions could involve risky loans, which is what started this whole mess in the first place.

While the President is insisting that Congress will pass the proposed bank tax, it is hardly a foregone conclusion. Republicans, not to mention the financial industry, is opposing it. And just what will the bankers spend all those billions in bonus money on? According to CNNMoney, at the top of the list is real estate. Bank execs will spend money on swanky New York apartments and European vacation homes. Also on the banking bonus wish list is private school tuition, expensive vacations, boats, cars and Botox. Yes, Botox. Apparently big time bankers need to look wrinkle-free to stay competitive.

Sales Training Books

Books Sales Professionals might like to Read

While developing out new website for Sales Training Consultants, we thought it would be a good idea to provide a reading list for sales people wanting to develop their sales skills and knowledge. So, here it is, divided into various sub-categories for ease of use:

Selling Skills

* Getting Into Your Customer’s Head: 8 Secret Roles of Selling Your Competitors Don’t Know, Kevin Davis. New York: Random House, 1996. (ISBN 0-8129-2628-5)
* Stop Selling and Start Partnering, Larry Wilson
* Changing the Game, Larry Wilson. New York: Simon and Schuster, 1987.
* SPIN Selling, Rackham, Neil. New York: McGraw Hill, 1988.
* Solution Selling by Michael T. Bosworth (Irwin Publishing, 1995).
* Samurai Selling: The Ancient Art of Service in Sales by Chuck Laughlin, Karen Sage and Marc Bockmon (St. Martin’s, 1993).
* The 25 Sales Habits of Highly Successful Salespeople , by Stephan Schiffman (Adams Publishing, 1994).
* The AMA Handbook of Successful Selling, by Bob Kimball (NTC Publishing Group, 1993).
* The Selling Bible: For People in the Business of Selling, by John L. Lawton (Council Oaks Distribution, 1995)
* Closing Tactics, Andoni Lizardi
* Negotiate to Close, Gary Karass
* Ziglar on Selling, Zig Ziglar. Nashville, TN: Ziglar Corporation, 1991.
* The Sales Strategist: 6 Breakthrough Strategies to Win New Business, Warren Kurzrock. New York: Irwin Publishing, 1996. ISBN: 0-7863-0738-2.
* Selling to VITO: the Very Important Top Officer, Anthony Parinello, Massachusetts, Bob Adams, 1994.
* Selling to the Top, David A. Peoples. New York, John Wiley & Sons, 1994.
* Sales Reengineering From the Outside In, Mark Blessington and Bill O’Connell (McGraw Hill, 1995).
* Strategic Selling, Stephen Heiman and Robert Miller.
* Conceptual Selling, Stephan Heiman and Robert Miller. Berkeley, CA: Miller Heiman, 1987.
* Selling the invisible, Harry Beckworth
* Cracking New Accounts: Tips and Techniques for Opening and Closing the Sales in Half the Time, Terry L. Booton (Probus, 1994).
* Guerilla Selling: Unconventional Weapons and Tactics for Increasing Your Sales, Jay Conrad Levinson, Orvel Ray Wilson and Bill Gallagher (Houghton Mifflin, 1992).

Business Acumen

* The One to One Future: Building Relationships One Customer at a Time, by Don Peppers and Martha Rogers (Doubleday, 1993).
* The Monster Under the Bed by Stan Davis & Jim Bodkin. (Simon and Schuster, 1994).
* Corporate Life Cycles: How and Why Corporations Grow and Die and What to Do about It by Izak Adiches. (Englewood Cliffs, NJ: Prentice Hall, 1990).
* The Little Black Book of Business Math, by Michael C. Thomsett. (New York: Anacom, 1988).
* The Art of War, by Sun-Tzu (Delacorte, 1989).
* The Goal, by Eliyahu M. Goldratt (North River Press, 1992).
* The E Myth: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber (Harper-Business, 1990).
* The Popcorn Report: The Future of Your Company, Your World, Your Life by Faith Popcorn (Harper-Business, 1992).
* Finance and Accounting for Non-Financial Managers by William G. Droms, (Reading MA: Addison Wesley, 1990).
* The Vital Difference: Unleashing the Powers of Sustained Corporate Success, by Frederick G. Harmon and Garry Jacobs, (AMACOM, 1985).
* What They Don’t Teach You at Harvard Business School, Mark H. McCormack, (Bantam Books, 1984).
* Zap, the Power of Empowerment by Jeff Cox.
* Marketing, by Robert D. Hisrich (Barron’s Educational Series, 1990).
* Multi-Level Marketing: The Definitive Guide to America’s Top MLM Companies (Summit Group, 1993).
* Relationship Marketing: Successful Strategies for the Age of the Customer, by Regis McKenna (Addison Wesley, 1993).
* How to Drive Your Competition Crazy, Guy Kawasaki.
* The Ten-Day MBA : A Step-By-Step Guide to Mastering the Skills Taught in America’s Top Business Schools @amazon.com
* The Complete MBA For Dummies @amazon.com
* Financial Statements : A Step-By-Step Guide to Understanding and Creating Financial Reports @amazon.com
* Business Planning : 25 Keys to a Sound Business Plan (The New York Times Pocket MBA Series) @amazon.com
* Tracking & Controlling Costs : 25 Keys to Cost Management (The New York Times Pocket MBA Series) @amazon.com
* Forecasting Budgets @amazon.com

Strategic Sales Planning

* The Magic Lamp: Goal Setting for People Who Hate Setting Goals, Keith Ellis, Three Rivers Pr., 1998, ISBN: 060980166X.
* Achieving Individual and Team Goals, Terry R. Bacon, Thomas Doggett, International Learningwork, 1996, ISBN: 1577400135.
* The Agile Manager’s Guide to Goal-Setting and Achievement (The Agile Manager Series), Walter Wadsworth, Velocity Pub., 1998, ISBN: 0965919323.
* All About Goals and How to Achieve Them, Jack Ensign Addington, Devorss and Co (Txp), 1977, ISBN: 0875162371.
* 10 Minute Guide To Planning (10 Minute Guides), Edwin E. Bobrow, IDG Books Worldwide, 1997, ISBN: 0028618181.
* The Sales Strategist: 6 Breakthrough Strategies to Win New Business, Warren Kurzrock. New York: Irwin Publishing, 1996. (ISBN 0-7863-0738-2)
* Sales Reengineering From the Outside In, by Mark Blessington and Bill O’Connell (McGraw Hill, 1995).
* First Things First, Steven Covey, Roger Merrill and Rebecca R. Merrill (Simon & Schuster, 1994)
* Winning the Fight between You and Your Desk by Jeffrey J. Mayer (Harper Business, 1994)
* Strategic Selling, Heiman, Stephen and Miller, Robert.
* Conceptual Selling, Heiman, Stephen and Miller, Robert. Berkeley, CA: Miller Heiman, 1987.
* Successful Large Account Management, by Robert Miller
* Major Account Sales Strategies, by Neil Rackham. New York: McGraw Hill, 1989.
* Managing Major Accounts, Neil Rackham
* Stop Selling and Start Partnering, Larry Wilson
* Power of Consultative Selling, Bryce Webster
* Organizational Capability: Competing from the Inside Out, by Dave Ulrich and Dale Lake, (John Wiley and Sons, 1990).
* Getting to Yes: Negotiating Agreement without Giving In, Fisher and Uri.
* Cracking New Accounts: Tips and Techniques for Opening and Closing the Sales in Half the Time, by Terry L. Booton (Probus, 1994).
* Guerilla Selling: Unconventional Weapons and Tactics for Increasing Your Sales, by Jay Conrad Levinson, Orvel Ray Wilson, and Bill Gallagher (Houghton Mifflin, 1992).

Customer Focus

* Discipline of Market Leaders, Treachy, Michael and Wiersema, (Addison Wesley, 1995)
* Brain Power: Learn to Improve Your Thinking Skills , Karl Albrecht. Prentice Hall, 1987.
* Seven Habits of Highly Effective People. Stephen R. Covey. New York: Simon & Schuster, 1990.
* Raving Fans: A Revolutionary Approach to Customer Service , Ken Blanchard and Sheldon Bowles. New York, William Morrow & Co., 1993. ISBN 0-688-12316-3.
* Stop Selling and Start Partnering, Larry Wilson & Hersch Wilson.
* One-to-One Marketing, Martha Rodgers and Don Peppers.
* The Customer Driven Company: Moving from Talk to Action , Richard C. Whiteley. Addison Wesley, Reading, MA, 1991. ISBN 0-201-57090-4.
* Customer Centered Growth: 5 Strategies for Building Competitive Advantage, Dianne Hessen and Richard Whitely. Addison Wesley, Reading, MA, 1996. ISBN: 0-201-47967-2.
* Getting Into Your Customer’s Head: 8 Secret Roles of Selling Your Competitors Don’t Know , Kevin Davis. New York, Random House, 1996. ISBN 0-8129-2628-5.
* Changing the Game, Larry Wilson, New York, Simon & Schuster, 1987.
* Solution Selling, Michael T. Bosworth. Irwin Publishing, 1995.
* Customer Visits: Building a Better Market Focus , Edward F. McQuarrie, Sage Pubns., 1998, ISBN: 0761908838.
* Customer Focus: A Strategy for Success, Roger Langevin, Bill Christopher, Crisp Pubns., 1998, ISBN: 1560524855.
* The Discipline of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market , Michael Treacy, Frederik D. Wiersema, Perseus Pr., 1997, ISBN: 0201407191.
* Implementing Quality With a Customer Focus , David N. Griffiths, Quality Resources, 1991, ISBN: 0873891104.

End User Effectiveness

* All Consumers Are Not Created Equal, Garth Hallberg. John Wiley & Sons, 1996. 320 pages.
* Real Time, Regis McKenna. Harvard Business School Press, 1998.
* Enterprise One to One, Don Peppers and Martha Rogers, Ph.D. Currency Doubleday, 1997.
* Keeping the Edge, Dick Schaaf. Dutton, 1995.
* Customer-Centered Growth, Richard Whiteley and Diane Hessan. Addison-Wesley, 1996.
* Strategic Customer Alliances : How to Win, Manage, and Develop Key Accounts @amazon.com
* Key Accounts Are Different : Sales Solutions for Key Account Managers @amazon.com
* Account Management (Building Service Management Program) @amazon.com
* Successful Large Account Management by Tad Tuleja(Contributor), et al @amazon.com
* Key Account Management: The Route to Key Supplier Status by Peter Cheverton @amazon.com
* Key Account Management: Maximizing Profitability from Major Customers by John Rock @amazon.com

Negotiation Skills

* Getting to Yes: Negotiating Agreement Without Giving In by Roger Fisher and Bill Ury (Viking Penguin, 1991).
* Getting Past No, Bill Ury (Viking Penguin, 1993)
* The Tao of Negotiation by Joel Edelman and Mary Beth Crain (Harper Business, 1993).
* How to Out-Negotiate Anyone (Even a Car Dealer) by Leo Reilly (Adams Publishing, 1993).
* Major Account Sales Strategies, by Neil Rackham (McGraw Hill, 1989).
* The Complete Negotiator, Gerard Nierenberger, (Berley Books, 1986).
* The Negotiation Toolkit: How to Get Exactly What You Want in Any Business or Personal Situation @amazon.com
* Deal Power: 6 Foolproof Steps to Making Deals of Any Size by Marc Diener @amazon.com
* The Power of Negotiating: Strategies for Success by Mike R. Stark @amazon.com
* The Shadow Negotiation: How Women Can Master the Hidden Agendas That Determine Bargaining Success by Deborah M. Kolb, Judith Williams @amazon.com

Channel Partner Effectiveness

* The channel advantage, Lawrence Friedman and Timothy Furey
* Market-Based Management: Strategies for Growing Customer Value and Profitability, 2nd edition, (Prentice Hall, 2000) – Roger Best – Part III Tactical Marketing Strategies Chapter 9
* Make Your Dealers Your Partners Harvard Business Review, March-April 1996, pp. 89-96.
* Rethinking Distribution: Adaptive Channels Harvard Business Review, July-August 1996, pp. 112-120. (Englewood Cliffs, NJ: Prentice Hall, 1990).
* The Sales Rep Navigator: How to Find the Perfect Sales Rep or Distributor for Your Business, @amazon.com
* How to Market Your Product Through Distributor sales Networks, @amazon.com
* Planning Telephone Sales: Handbook for Distributor Management, @amazon.com
* The Channel Advantage : Going to Market With Multiple Sales Channels to Reach More Customers, Sell More Products, Make More Profit @amazon.com
* Channel Champions: How leading companies build new strategies to serve customers @amazon.com

Computer Skills

* Lotus Notes for Dummies, @amazon.com
* PowerPoint for Dummies, @amazon.com
* Excel for Dummies, @amazon.com
* Word for Dummies @amazon.com

Five Emerging Trends for the Insurance Industry

Five Emerging Trends for the Insurance Industry
Over the past few months, I have delivered a number of insurance oriented keynotes and, later this week, Ill be addressing a conference on Emerging Technologies for the insurance industry. While I cover a wide variety of trends in the information technology, biotechnology and nanotechnology sectors, here are five trends already impacting the insurance industry and which will only grow more prevalant over the coming years:

1. Genomics: Since 1998, the price of sequencing a base pair of genes has plummeted 100 million-fold. An individual can now have his or her genome sequenced for about $10,000. Obviosly, this still isnt practical or affordable for the average person but the price will soon decrease to $1000 and then $100and eventually even lower. The impact on human health will be profound and the implications for the insurance insurancein terms of life expectancy alonewill be immense.

2. Gaming Dynamics: The ability for smartphones to monitor everything from a persons heart rate and blood pressure to their glucose levels is impressive. To date, however, most of this data was just collected and then transferred wirelessly to healthcare providers who helped the patient make sense of it. This is about to change and gaming dynamics will lead the way by providing users new ways to engage, interact and, ultimately, control their own healthcare. Imagine, for example, receiving a lower insurance rate because you could verify that you exercised for 40 minutes and burned 400 calories. The potential for gaming dynamics to unleash new, innovative business models for the insurance industry is real.

3. Locational Intelligence & Pervasive Connectivity: Due to the exponential advancement of GPS technology and sensors, it is now possible to know a persons location to within a few feet. While this has made it easier for the “directional-challenged” to find their friends house a little quick, the technology is poised to revolutionize the insurance industry by making it feasible to monitor a persons driving habits. For instance, if a person is going too fast, braking too suddenly or driving or parking in a crime-ridden area, itll be possible to adjust that persons insurance rates accordingly. Undoubtedly this raises significant privacy concerns which might ultimately doom the technology, but it is just as feasible that cost-conscious consumers will be willing to provide access to such information in return for lower rates.

4. Computational Analytics and Data Mining: When a mild earthquake hit Washington, DC this past August, the first Twitter report reached New York 40 seconds ahead of the quakes shock waves. An impressive feat to be sure but itll pale in comparison to the type of information that will soon be delivered by data-mining Twitter and numerous other social networking sites. Officials at Southeastern Louisiana University recently reported they could track influenza outbreaks by collating the rise of Twitter texts from people complaining about flu symptoms. Other researchers have discovered there is a strong correlation between a persons physical health and the health of their friends. One future possibility is that publically-available social network data can be data-mined by insurance companies to offer discounted rates to individuals who travel in healthier social circles. (Again privacy concerns and regulations may prevent such uses but, then again, maybe not.)

5. Hyper-Personalization: The foundation of the insurance industry is based on the idea of pooling risk. This strategy has worked well for centuries but in the not-to-distant future it is entirely possible that many individuals will prefer to be insured based on their individual actionsand not the statistical average of a large group. This is especially true if the person in question is healthier, a better and safer driver, and cost-conscious to the point that they arent concerned with sharing certain data with the insurance provider in return for securing a lower premium for themselves.
This future is coming. The only question is whether you, your business, your association or your industry is ready.

His latest book is Higher Unlearning: 39 Post-Requisite Lessons for Achieving a Successful Future.

Automotive Industry The US Hybrid Vehicles Market Research Report

The rising gas prices, continuing federal and government support, decreasing dependency on imported crude, recharging infrastructure, upcoming cost-effective hybrid batteries and the change in consumer perspectives to drive the US hybrid vehicles market in the future

Hybrid vehicles market has been one of the fastest growing sectors in the US, due to the incorporation of the green technology concept. Additionally, higher fuel economy standards, increasing growth in per capita income, increasing battery life, durability, safety and hybrids economies of scale is also expected to further strengthen the hybrid vehicles market in the country. The US hybrid vehicles market has experienced CAGR of 7.6% over the period 2007-2013.

The full/mild hybrids have driven the hybrid vehicles market significantly in the US. However, plug-in hybrids represent an emerging hybrid market in the US with a strong rate. California, New York, Florida, Texas and New Jersey were few leading states in the US hybrid vehicles market. The issues related to the battery development process, potential challenges and pricing of the hybrid vehicles has been discussed.

The leading automobile companies dominating the US hybrid vehicles market include Toyota, Ford, General Motors, Hyundai and Honda. The major hybrid vehicle models which were sold by these companies include four models of the Toyota Prius Family, Lexus ES, Ford Fusion, GM Chevrolet Volt, Hyundai Sonata and Honda Civic.

-Hybrid vehicles market is in the process of mass adoption and is gradually moving towards being a major market in the US automobile based economy. As a result of the government regulations, environmental regulations, rising gas prices, increase in per capita income and recharging infrastructure over the past few years, with the implementation of stringent environmental norms, there has been a remarkable increase in the hybrid vehicles market in the country. This has resulted in increased awareness among the consumers towards eco-friendly hybrid vehicles.– According to the Research Analyst, Ken Research.

The report titled -The US Hybrid Vehicles Market Outlook to 2018 – Government Strategy and Cost-effective Hybrids to Escalate Demand- provides detailed overview on hybrid vehicles market in the US and helps reader to identify the ongoing trends and developments in the hybrid vehicles industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, hybrid vehicle manufacturing companies, marketing companies and other stakeholders and consumers to align their market centric strategies according to ongoing and expected trends in future.