In this series, we’re discussing how to inflation proof your business. A friend owns a chain of restaurants. He was concerned when he discovered that people were selling large quantities of ketchup packets on eBay. He realized a shortage of ketchup and increased prices were coming. He called his suppliers and asked for all the ketchup they could find. He […]

In this series, we’re discussing how to inflation proof your business. For most businesses, payroll costs are their largest expense item. Recently, President Biden signed an order requiring all federal contractors, including any subcontractors, to increase their minimum wage from $10.95 an hour to $15 per hour in 2022. This action will drive wages higher and force the private sector […]

According to new research from Bank of America Securities, mentions of inflation by CEOs have exploded 800% year-over-year. With age comes some added responsibility to share experiences. As inflation discussions have increased dramatically, I realized I have some experiences that many leaders have not had. If you are under 50 years old, you have never experienced inflation above 5% in […]

In 1978, four men broke into a home in Kansas City and killed three people. For over 40 years, Kevin Strickland has been incarcerated in a Missouri prison for those three murders, which he didn’t commit. Two men admitted their guilt, but both were adamant that Strickland was not with them. The only evidence that convicted Strickland was Cynthia Douglas, […]

In 1973, America’s dependence upon other nations for oil led to skyrocketing gas prices, gas rationing and international tensions with the Middle East. The oil crisis dramatically impacted our culture and economy. In the 2020s, microchips may become the new oil. Phones, automobiles and computers have made us dependent upon chip manufacturers. On “60 Minutes,” Intel’s CEO claimed that the […]

As business leaders navigate bringing their people back to the office, it may be hard for businesses to develop a one-size-fits-all policy for remote vs office work. My friend, Paul, collaborates with an architect firm. Paul said, “Many businesses can work remotely, but these architects are collaborating on designing a building. Remote work has been disastrous for them.” Another friend […]

In April, only 266,000 jobs were added to the U.S. economy while the experts had predicted 1 million. Yet, according to the National Federation of Independent Business, 44% of small businesses said they had job openings they couldn’t fill. One potential reason for this gap is the government paying people more to stay home on unemployment than if they go […]

According to research from the Edelman Trust Barometer, 92% of employees believe that CEOs should speak publicly on controversial political and social issues. With this in mind, more CEOs have begun speaking out about controversial issues. But doing so can come with a significant backlash. If you stray into areas that don’t relate to your business, or you don’t fully […]

Scott Tucker was a race car driver who amassed tremendous wealth by charging borrowers incredibly high interest rates through his payday lending operation. Tucker is currently spending 16 years in prison for criminal racketeering. There are many victims of Tucker’s operation who would like to see restitution. The Federal Trade Commission levied $1.27 billion against Tucker to repay victims. But […]

When my father was discharged from military service, he needed a job. Dad didn’t have a high school degree, so when he had an opportunity to work at General Motors, he leaped at the opportunity. 30 years later, my dad retired from that same job. Over those years you couldn’t find a more loyal employee to General Motors. My father […]