What’s the one thing you believe that no one else does?

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Sarah Lacy of PandoDaily holds fireside chats with various people involved in the tech sector and at the end of each interview asks the question “What is one thing you believe that no one else does?”  This question provides insight into the person being interviewed and also makes for great conversation (see here for the fireside chats).  Given what I do each day and the conversations I have about banks, lenders, debt, cash flow, businesses and people needing money, etc. I thought my answer might make for an interesting blog post. Continue reading “What’s the one thing you believe that no one else does?”

This won’t make me popular but it makes sense

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CNN Money posted an article today titled “BofA considers account that puts an end to overdrafts” which I think is a brilliant idea.  For those of you who have not been following the overdraft issue it may be difficult to appreciate this potential move by B of A but trust me when I say that this is a move in the right direction.  Banks earn money when people go into their overdraft by charging a flat fee per instance or per month.  The fees can be a few dollars per instance to a monthly charge of up to $5.00 in additional to interest rates that can run up to 21.0% per year.  This may not seem like a lot of money but across the portfolio of accounts that a bank would have this revenue can quickly add up. Continue reading “This won’t make me popular but it makes sense”

So BlackBerry is selling some real estate. Is there a lesson here?

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It’s all over the Canadian headlines today – BlackBerry (who owns more than 20 buildings and reportedly controls 15% of the total office market in Waterloo, Ontario) is selling some real estate.  Aside from the fact that many of us (myself included) are very disappointed to see where BlackBerry has ended up, are there some lessons here with respect to businesses owning real estate?  We quite often get inquiries from business owners who are considering purchasing real estate to turn their lease payment into a mortgage payment and hopefully build some equity for the future.  We are not in the real estate sales and leasing business but providing mortgages and loans to businesses is something we do all the time and here are some rules of thumb we have learned: Continue reading “So BlackBerry is selling some real estate. Is there a lesson here?”