2 votes
I suggest that entrepreneurs that are interested in providing a product or service be encouraged to work on their idea. My experience with entrepreneurs in general is that they only wish to make money. Profit is important to all business but profit at any cost results in more poverty, abuse of employees, and inferior products. Sincerely Harry Hansen
9 votes
Make it easier for foreign entrepreneurs to relocate to the US or for foreign students to stay in the US and start companies. See Act here: http://kerry.senate.gov/press/release/?id=4e6a51f6-fb2b-4212-b299-b0c46c7e6b58
3 votes
Reduce capital gains tax rates to allow previously successful entrepreneurs and investors to funnel more private capital back into new high-growth start ups. This will reduce the cost of capital for new, high growth start ups -- allowing more entrepreneurs to test more ideas.
5 votes
Lower the effective capital gains tax rate by accelerating the write off of passive losses.
4 votes
Consider re-organizing all federal and public assets dedicated to new business development and job creation into a single agency. Avoid redundancy between EDA and SBA. For example, EDA recently announced its new web site for business development and job creation. http://www.eda.gov/NewsEvents/PressReleases/20110511_Albuquerque_RIAN
8 votes
Create national entrepreneurship program.
Mission: Create 1,000,000 new entrepreneurs within the next four years
Program: Education, Mentoring, Funding, and Development of new entrepreneurs.
Follow through with funding and development of new ideas on behalf of these entrepreneurs that matter to our nation
0 votes
Encourage venture labor investments in early stage startup businesses that are operating within a non-profit organization that is established to facilitate new business development initiatives. Employed, displaced and retired professionals who may be interested in a particular early stage startup business could invest their time, not their money, on a part time basis in an early stage startup business. Venture labor ...more »
Encourage venture labor investments in early stage startup businesses that are operating within a non-profit organization that is established to facilitate new business development initiatives.
Employed, displaced and retired professionals who may be interested in a particular early stage startup business could invest their time, not their money, on a part time basis in an early stage startup business. Venture labor investing should become an alternative to venture capital investing. There is no risk to capital! Venture labor investors could receive annual tax incentives if their labor is invested on a part time basis in an early stage startup business. Include provisions in a law or regulation that would allow venture labor investors to receive an equity stake in the future enterprise even though they would have received an income tax deduction for their invested labor. Perhaps this strategy would encourage professionals to become stakeholders in early stage startup businesses at least for the tax deduction and with the future expectation that they could receive a financial return based on their accumulated equity in the startup business. Encourage the early stage startup business to simply register their activities with the IRS, FBI and/or the SEC to account for venture labor investments.
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1 vote
Secure patentability rights while allowing publication and commercialization of claims and trade secrets prior to submitting a patent application. Use the provisonal patent application database as a trade secret database [e.g., a Trade Secret Bank] that is searchable by a community of qualified members of the Bank who demonstrate that they will not use the information in the Bank for any purpose except to enter into ...more »
Secure patentability rights while allowing publication and commercialization of claims and trade secrets prior to submitting a patent application.
Use the provisonal patent application database as a trade secret database [e.g., a Trade Secret Bank] that is searchable by a community of qualified members of the Bank who demonstrate that they will not use the information in the Bank for any purpose except to enter into license or purchase arrangements with the provisional patent applicant. In addition, use the information in the Bank as prior art and allow the provisional patent applicant to maintain patentability rights as long as every reasonable effort is exercised to commercialize the claims or trade secrets that are contained in the applicant's application. Allow the applicant to publish original claims or trade secrets contained in the provisional patent application without loosing patentability rights for as long as the applicant engages in reasonable efforts to commercialize the claims or trade secrets contained in the provisional patent application. Encourage the provisional patent applicant to proceed to the patent application process after sufficient funds have been raised from commercialization activities.
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1 vote
Accelerate the implementation of a voluntary national identity authentication system.
1 vote
One of the best ways to get venture capital to companies with high growth potential is the SBIC Program. However, the Debenture program does not work for early stage investments where the company needs to put all of its capital into growth rather than into debt service. SBA should develop and implement a workable alternative to the Participating Securities program that allows venture capital funds to make early stage ...more »
One of the best ways to get venture capital to companies with high growth potential is the SBIC Program. However, the Debenture program does not work for early stage investments where the company needs to put all of its capital into growth rather than into debt service. SBA should develop and implement a workable alternative to the Participating Securities program that allows venture capital funds to make early stage investments without the downside risks of the Participating Security program but with enough upside benefit to attract risk-averse investors to an early stage investment strategy. As an additional incentive, a modest tax credit for investments in licensed early stage SBIC funds would help to drive capital into the high risk, early stage ventures that can provide rapid job growth.
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0 votes
To avoid unintended consequences oaf government regulation on entrepreneurs consider requiring an "entrepreneurial impact statement". Entrepreneurs don't have time to lobby - asking the impact before acting will help reduce the erection of new barriers.
2 votes
I suggest you allow entrepreneurs to invest proceeds from the sale of ANY asset into their business either without paying capital gains taxes or by deferring those taxes until the sale of the business. This would allow transfer of proceeds from real estate or other appreciated assets into job creating businesses without penalty. It would be simple to do by modifying one paragraph in the tax code, and it would add millions ...more »
I suggest you allow entrepreneurs to invest proceeds from the sale of ANY asset into their business either without paying capital gains taxes or by deferring those taxes until the sale of the business. This would allow transfer of proceeds from real estate or other appreciated assets into job creating businesses without penalty. It would be simple to do by modifying one paragraph in the tax code, and it would add millions of dollars of investment into high growth enterprises as well as small businesses.
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5 votes
I suggest you have the SEC allow regulation-exempt public stock offerings when the maximum individual investment is less than or equal to $100.00: http://crowdfundinglaw.com/. This would allow any entrepreneur to do a public offering for tiny investments, aka “crowdfunding”. Of course, this group of investors would then meet the prior existing relationship for other regulated private offers.
1 vote
In 8 CFR 204.6(i), change allowable locations for companies receiving $500,000 or $1,000,000 through the EB-5 program.
Currently $500,000 is only applicable to new enterprises in Targeted Employment Areas.
Make $500,000 and $1,000,000 investments available in non-TEAs, since TEAs are so embedded and interwoven with the rest of communities. (Unemployment is high and uneven between contiguous census tracts.)
1 vote
Consolidate all the best ideas as well as all the orgnanizations who are engaged in economic development across the country into a single national network of collaborators who are all linked together by a single web site that is establish as the national eco-system for entrepreneurship and innovation.
0 votes
Tax incentives for existing and new businesses that encourage growth through additional investment and hiring.
0 votes
The Federal Government must streamline it's contracting and contract management process and provide incentives to Contracting officers. There is no incentive for Contracting Officers to work with Small Businesses or Entrepreneurs. By hiring large firms and place a clause in their contract to work with small businesses, it takes the pressure off of the government to work with SBAs.
0 votes
Provide Multi-Year Funding to Support Creation and Operation of Regional Centers for Medical Device Innovation: Goal: Accelerate product development of new medical device products based on University technologies as well as technology originating in the entrepreneurial community by bringing together in one location the key infrastructure needed to rapidly move new medical devices and new medical technologies to market. ...more »
Provide Multi-Year Funding to Support Creation and Operation of Regional Centers for Medical Device Innovation:
Goal: Accelerate product development of new medical device products based on University technologies as well as technology originating in the entrepreneurial community by bringing together in one location the key infrastructure needed to rapidly move new medical devices and new medical technologies to market.
Provide one-stop facility with expertise and equipment capable of taking a technology for a new medical device into a GMP prototype useable in human clinical trials. The facility, by brining toegher in one location the key infrastructure needed to rapidly move new medical devices and new medical technologies to market, will accelerate the development of new medical device products
Major supporting activities include: Design, Iterative Prototype Development, and Testing of new medical devices, Pairing of clinicians with engineers and scientists to accelerate translation of medical technologies, Aggregation and management of intellectual property for clinical partners, and supporting activities (eg regulatory affairs, IDE compilation and filing, SBIR application support, etc.).
Model: Global Center for Medical Innovation [GCMI] at Georgia Institute of Technology. This is a recently formed not-for-profit public private partnership which provides facilities and expertise for design and development of innovative medical devices including cGMP manufacturing of prototypes for use in FDA regulated human clinical trials. GCMI is established as a partnership between academic institutions and clinical centers in a manner which is designed to accelerate the translation of innovation from the labs into human testing. GCMI is being developed to serve the SE region of the USA. GCMI (www.devices.net) represents an extension of concepts proven over the last 30 years at Georgia Tech's ATDC - Advanced Technology Development Center (www.atdc.org) to help entrepreneurs build successful technology companies. ATDC was recognized by Forbes.com in 2010 as one of the top ten incubators changing the world.
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1 vote
I suggest you provide access to Capital and Contracts. There have have several promising initiatives designed to give out loans and credit to Small Businesses. Each Bank should have to divulge how many applicants have applied, been rejected, and approved. Although that data is being collected what is being done to ensure Small Businesses aren't being unnecessarily rejected? Small Businesses need contracts to generate ...more »
I suggest you provide access to Capital and Contracts. There have have several promising initiatives designed to give out loans and credit to Small Businesses. Each Bank should have to divulge how many applicants have applied, been rejected, and approved. Although that data is being collected what is being done to ensure Small Businesses aren't being unnecessarily rejected? Small Businesses need contracts to generate revenue. I recommend expanding funding for the Teaming Pilot Project and making the Program a permanent budget item in the SBA Budget.
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0 votes
In my opinion, all industries" data (at all levels - local, regional...) should be generated "real time" and it should be disseminated to all parties(citizens, organizations, companies, start ups...) for free. This is a big task for one organization for large economy and a large geography like ours and and I believe, all universities across the country could collaborate and achieve this.
1 vote
It was a pleasure to be involved with the White House sponsored Start Up America: Reducing Barriers Roundtable in Pittsburgh on April 28. Pittsburgh was one of eight cities nationally to host the Roundtable event. The Pittsburgh Roundtable was the only city of the eight to include manufacturing as one of the breakout sessions. The inclusion of the manufacturing session is thanks to the efforts of Tom Henschke of SMC ...more »
It was a pleasure to be involved with the White House sponsored Start Up America: Reducing Barriers Roundtable in Pittsburgh on April 28. Pittsburgh was one of eight cities nationally to host the Roundtable event. The Pittsburgh Roundtable was the only city of the eight to include manufacturing as one of the breakout sessions. The inclusion of the manufacturing session is thanks to the efforts of Tom Henschke of SMC Business Councils and others.
The manufacturing breakout session was very passionate and identified many barriers and solutions to growing a manufacturing company. Beyond the specific barriers and solutions, an overriding summary of the discussions was there needs to be an improved awareness of the benefits a strong manufacturing sector provides to the fiber of the country and its' macro economy. The United States remains with a leading and ever adapting manufacturing industry. However, the Administration and general public are only aware of the large multinational manufacturing companies and the dynamic of manufacturing companies and jobs leaving the country. The manufacturing industry remains alive and is embodied by many thousands of small and medium size manufacturing companies with millions of employees. As we have seen with the recovery from the Great Recession, the manufacturing industry is leading the way. The country and the economy will be stronger and more self sustaining with a vibrant and growing manufacturing sector. We need to let the Administration and public know that we (the manufacturing community) intend to continue to grow, evolve and prosper with a focus to continue to make this country the best in the world.
As stated in the summary of the manufacturing break out session, we can only hope that this imitative was just the beginning of our discussions about the barriers faced by the manufacturing industry. Not only with the Administration, but with the American community.
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1 vote
Make repossessed properties available to entrepreneurs with sound business plans before the general public and already-established large businesses. Finding a place to make your business idea a reality in the most economical fashion is not an easy task. If the SBA could have auctioning rights over some such properties, things may be easier, cheaper, and more streamlined as yet another aspect of startup could be taken ...more »
Make repossessed properties available to entrepreneurs with sound business plans before the general public and already-established large businesses. Finding a place to make your business idea a reality in the most economical fashion is not an easy task. If the SBA could have auctioning rights over some such properties, things may be easier, cheaper, and more streamlined as yet another aspect of startup could be taken care of in the same place.
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0 votes
Make a wealth of online journals, news agencies, and other business-related publications accessible to members free of charge, or at least cheap. In college, I had access to all such information, and the cost was rolled into my tuition. A contributing member of the SBA would benefit greatly from access to demographic, geographic data and trend information in their planning stage as well as in their ability to stay ahead ...more »
Make a wealth of online journals, news agencies, and other business-related publications accessible to members free of charge, or at least cheap. In college, I had access to all such information, and the cost was rolled into my tuition. A contributing member of the SBA would benefit greatly from access to demographic, geographic data and trend information in their planning stage as well as in their ability to stay ahead of the curve.
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5 votes
"REINSTATE THE GLASS-STEAGALL ACT of 1933." Then just let Nature take its course… “That’s all!” You can pay yourself $100K Bonus and retire on your pension now… The Simplest Fix is simply to REINSTATE THE LAW (Glass-Steagall), and that will do "EVERYTHING...!" However, there is NO WAY that President Obama or the “SBA” has the ability or strength to buck the $300MILLION in Bribes that the Lobbyists paid to Repeal ...more »
"REINSTATE THE GLASS-STEAGALL ACT of 1933."
Then just let Nature take its course… “That’s all!” You can pay yourself $100K Bonus and retire on your pension now…
The Simplest Fix is simply to REINSTATE THE LAW (Glass-Steagall), and that will do "EVERYTHING...!" However, there is NO WAY that President Obama or the “SBA” has the ability or strength to buck the $300MILLION in Bribes that the Lobbyists paid to Repeal the Law, as the crooks are almost all still in power. So since that isn’t going to happen, I have and will share FIVE THOUGHTS (5 Items) THAT WILL WORK. But in order to get to them, you will have to read 15 minutes of my History of how and why we got here; so that you will understand where I am coming from, and read the occasional Rants. (Don’t worry), I’m a good Ranter; and besides it’s all accurate INFO that is Relative or I wouldn’t waste my time! BTW, I am a Financial Professional who has financed many Small Businesses, and taken over 30 of them public over my 25+ year career. I am not a Stock Broker, I am an Underwriter, and a Corporate Finance Consultant with a particular area of expertise in Start-up, Small-Cap, and Micro-Cap Financings. I won’t waste time with silliness.
Since the Banks were allowed back on Wall Street the 12 largest Wall Street Investment Banks were merged into Bank Holding Co's in less than a yr, with over 70% of the Mid Tier Firms becoming consolidated and 95% of the Small Independent (Small-Cap + Micro-Cap) firms either gone out of business (As a result of the Stock Market Melt-down of 2001), or by the subsequent changes which made Capital requirements more stringent, Regulations onerous, and reduced the profit margin for Risk Capital & Trading OTC Stocks by about 90%. The regulators got rid of the pesky Small Penny Stock Firms, by making it more expensive to get and stay in Business, Increased the Risk, Lowered the Profits, and (Just for fun), made it Difficult to operate. “Well Done!” While “Big Board Firms” stole 100’s of Billions, and a Trillion Dollar Bailout! But, as a result of this Brilliance of the Powers to Be, they eliminated 95% of the firms who use to finance Star-Ups, Small-Cap, & Micro Capitalized Co’s.
The “FEDERAL RESERVE” through its Member Banks, have either acquired or dismantled (through legislation), 95% of the Capital Resources that use to "CAPITALIZE" the Small Business Sector. LARGEST SECTOR (75% of American Employment) of EMPLOYEES in the U.S. has been “CUT OFF FROM CAPITAL!”
“Capitalism only works if everyone has access to Capital.” Otherwise what we have is “Corporate Anarchy” (What we have)! Small Businesses & the American work force has been purposely “SHUT DOWN” to convert the Wealth of the Middle Class to that of the Ruling Class. IT WORKED in 1929, and it has worked again…
300 million Americans playing Monopoly (By the rules), and the Bankers decide that they will only give their 400 friends $200 when their friends pass “GO” and the rest of America gets Nothing. It doesn’t take long before America loses and all property is owned by the 400 friends of the Bankers. Any questions? So, “WHAT CAN GOVERNMENT DO?” You’ve got to be kidding… After you guys finished what Bush/Cheney did to us, “Now the Federal Government gets to ask this question?”
Better I ask YOU!
Where does the Entrepreneur go to get a $150K Bridge Loan or a $1M to $2M Private Placement, and maybe a $6M to $10M I.P.O.? Banks? No, "They don't know how..." (It’s not what they do) Investment banks? NOPE! There are only Big Firms left in the business and “Big Firms don't fund small deals..." Venture Capital? "BINGO!” Except you give up between 51% to 90% of your Company (But if you are lucky you’ll get a Job). How did this happen? "GREED!" You could try to find an SBIC, but they will look at the business model like a Bank will; and although some may have a degree of competence & expertise in Financing Small Businesses that may, or have gone public, they don’t specialize in it. They look at everything from a place of DEBT. I Know, I use to have SBIC’s around my firms, their underwriters have worked for me, and I’ve done business with and through them on several deals. They are great for long term investment Capital, but you need people who will “Roll the Bones” with $300K to $1,000,000. To get Start-Up’s off the ground; and they aren’t the type of investors who want to wait and see if the project will work in a year or two (Not without wanting a Controlling Stake in the deal). So, you will crawl at the Pace and Speed of the management of the SBIC, and the SBA.
I like to use SBA Loans or Financial Guarantees, or through SBIC’s after the Company exists. Then there is equity on the Balance sheet, assets available for Collateral, and probably “Cash Flow” to pay debt service and receivables to securitize notes... That stuff doesn’t exist with “Start-up’s,” and by the time a Start-up can afford to pay any debt service, I’d already have it Publically Traded on the OTC Market so that liquidity is available for the Investors and Valued Securities are available to recruit some Expert Management, as well as provide enhancements for Lenders (Such as SBIC’s) for earlier stage financial risks. So where are these “Small Cap Firms?” Well, I’m in that business for over 25 yrs and “NONE” of my 20 + Friend’s Firms exist... They all went out of business. These were “Good reputable Firms” not Bucket Shops. WHY? YOU GUYS! Greedy Politicians who didn’t think or Care about the ramifications and consequences of bowing to the Ruling Class after taking the Bank Lobbyists Bribes and they un did the safety Regulations that kept our Banks Safe, and the Investment banking Community form being Dominated & Controlled by the Federal Reserve Banks, and their Member Banks.
As a result of Congress Repealing the Glass-Steagall Act of 1933 (During the session of 1999), they allowed the Banks back on Wall Street. Not only did they have control of the money supply from the FED, but then they also took Total Domination & Control of both the Money Supply & the Capital Markets… Which means that they also decide WHO GETS the MONEY & WHO DOESN’T? So the FEDEARL RESERVE BANKS and their MEMBER BANKS returned to what they were prior to the “Great Depression” and they have returned the country back to the days of the Great Depression; as they have once again manipulated the markets to convert the wealth of the Middle Class to that of their own. (PLEASE PROVE ME WRONG!)
They manipulated the markets in 2001, and again in 2007, and created the financial mess this Country is in (All of it)! So why doesn't Washington Fix it? Well, “Ask Barney Frank” (Who took their Bribes), “Ask Chris Dodd (Oh… He left the Senate). These (2) Democrats were the most powerful men overseeing Banking & Finance in Washington in both the House and the Senate, and they’re both in Bed with the Banks (They accepted the Lobbyists’ Money), so they did absolutely “NOTHING to Rat themselves out…" The Republicans “SPONSORED the BILL;” as it has always been the Agenda of the GOP to wipe out the Middle Class since Reagan left office. "SO WE ARE SCREWED!" Both Parties screwed us and what now? Now the Federal Government (After the House, the Senate and the White House have all changed from Republican to Democratic, with the midterm already changing that), “NOW YOU GUYS ASK?” Since the common Enemy of the People were the Banks (Just before the last Presidential Election), “Do you think that may have been a Good time to ASK?”
I am VERY ANGRY! “Real People have Lost EVERYTHING THEY OWNED” Professionals who are College Educated and ran well managed Small Businesses that earned $350K to $1M per year, now own “Nothing!” So now what the Government wants to know is, “How to better LEND MONEY to businesses that Can Not Pay It Back?” (IT WON’T WORK…) NO…
Nothing is going to Change (Long Term) without Reinstating the Glass-Steagall Act. That “Coup de Tah,” the Banks put over on the U.S. Citizens was the worst thing that EVER WAS PERPETRATED ON THE TAX PAYERS since the Federal Reserve Banks were created to turn the Nation’s Monetary System over to Private bankers in 1913. SMART AMERICANS are now wards of the State; and instead of the majority of the “Wealth of our Nation” being owned by the Middle Class, it is now owned by 400 of the richest people in the world (All in 1 decade). Tell me the difference between what the bankers did in 1929 and what they’ve done in 3 hits in 2001, 2007, and just before 2008? It isn’t because the Democrats want us on Social Services, it’s because the Ruling Class, “Those who own the FEDERAL RESERVE BANKS!” The FED is the Biggest SCAM in America's History, as in 1913 John D. Rockefeller, J.P. Morgan, and other Robber Barron’s together with the Ruling Class of European Bankers Bamboozled the former President of Princeton University, “Woodrow Wilson,” to run for President. They and John D. Rockefeller (The richest men in the world would) would sponsor “Wilson” and buy Votes to make him President of the United States if he agreed to their vision of a Private Owned Central Bank & “New World Order.” He did, he became President, and he signed the Federal Reserve Bank Act of 1913, which gave the Keys to the vault to a banking cartel that dominated both America and Europe. A few yrs later he wrote:
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.” - Woodrow Wilson
The bankers who control both the Oil Co’s as well as the Multi-Nat’l Corp’s that chose to exploit “Slave labor States” (In the name of FREE TRADE), and create Monopolies so that there is little to no resistance in their domination of world markets, and they also (As of 1996) control 90% of the Media Outlets; so they control everything you see, hear, and read (They control our thoughts though selective programming and advertising). Just as they do in Europe, they all want us to work in the service of them either directly or indirectly by selling to them or closing our businesses to take Mid Mgt Positions of their Multi-Natl. Corp's (After they buy us out or put us out of business). Otherwise we should work for the Government. ~OR~ They threaten us to "Not Work at all..." That is how the Ruling Class runs things in Europe, and since they control 2/3 of the stock at the Federal Reserve Banks (Which is no more “Federal” than is Federal Express), and the Investment Firms on Wall Street, they and only they have access to Capital.
What’s so frightening about this agenda is that it was always the agenda of the Republican Party since the Industrial Revolution, and they have convinced their Political Base (For generations…) that it is just the opposite! They blame the leaning towards a European form of Socialism on the Democrats! “Nothing could be further from the truth.” There are those who believe in a Middle Class having the same rights as the Super Wealthy, and there is the Gullible Hard Working “God Fearing” people who think that the B.S. they are fed that the Democrats are going to take their Guns, their Bibles and their Jobs and give them to the Immigrants (*While those are the VERY THINGS the GOP pays BIG DOLLARS to Affect)!
That is how things are run in Europe, and how the Ruling Class of Europe maintains Domination and Control of Everything, with the few Entrepreneurs operating small “Boutique Companies,” and either pay high taxes to support the Social Services (So the Ruling Class doesn't have to...)! “Familiar?” Basically, since 2/3 of the Federal Reserve Banks are owned by Foreign Banking Interests, they want us to become Socialists, and either we work for them or the Government; so they have little to ZERO Competition! Otherwise you become a ward of the State… That’s the New World Order. Same as the “Old World Order” (Except with a few Americans sprinkled throughout the two continents). Since the U.S. Robber Barron’s joined the Aristocracy of Europe becoming partners in 1913 when the "Privatization of the U.S. Central Banks” occurred, we’ve been on that path under Republican rule. MIDDLE CLASS AMERICA WILL SOON BE A MYTH! In fact, “What is Middle Class?” They use to own the Small Businesses that were the Backbone of America.
When F.D.R. took office in 1933, he introduced the "NEW DEAL." That is what Neutered the Banks (As the Glass-Steagall Act threw the Banks & Insurance Co's off of Wall Street), the SEC Act of 1933 (Which would oversee the Investment Banks since they were no longer agencies of the Federal Reserve) and the Bank Act of 19333 (Which gave the Fed and the States oversight and explained what the banks could and could no longer do), as well as the V.A., and several other programs that leveled the playing field so that the Ruling Class and the Robber Barron’s would no longer rein as Rulers of American Enterprise. “Free Enterprise returned to America;” and we became the most powerful country on earth, and the fastest growing and richest Middle Class the world had ever seen. Up until 2001, the Middle Class Controlled the wealth of the nation, as even as late as 1985, the top richest Americans only controlled about 12% of the wealth in America; today only 400 Americans make up over ½ the wealth of the Nation. “Where did they get it from?” The poor? I don’t think so… “US!”
By separating the Banks from the Investment Banks F.D.R. was able to eliminate 90% of the risks that Banks took by not allowing them to use Depositor Money to wage bets on Stock & Bonds, or Insurance Deals that could put unwittingly depositor’s moneys at Risk! By Suring-up the stability of these deposits, the Government was able to create the FDIC which insured Deposits at the Banks, and People regained confidence in the American Banking System. No longer did the "FED" and it's Member Banks have Total Domination & Control of the Free Enterprise or Capitalism in America. Not until 1999…
In 1999, the Bank Lobbyists bought off Congress and by using a Merger between Citi Bank and Travelers Insurance as their "Poster Child" justification for Repealing the Glass-Steagall Act which stood in the way of this new (Old) “Hybrid Bank” that was suppose to increase it’s services in order to compete in a Global market with European Banks. (How’s that for B.S.?) The Bank Lobbyists bought off Congress for an estimated $300 Million and they were able to undo the most essential Law that protected the Public and the Deposits from becoming "At Risk;" and the Banks borrowed all the money they wanted from the FED to acquire the Investment Firms on wall street, and in less than 2 yrs, they managed to replicate exactly what they did in 1929 (When they cased the Market meltdown) which the Glass-Steagall Act prevented from ever happening again, and then they caused the Bond Markets to crash, and then the banking system all together. “We bailed them out!”
The FED did the “Exact Same Thing Again!” In less than 2 yrs we had the worst Stock Crash in the world, then 5 yrs later we had the worst Bond Market Crash in the world, and then the banks failed and the Tax Payers "Bailed them Out!" - Yes, and in a “Hurry;” so nobody had time to read or figure out what happened (While they paid themselves $Billions in Bonuses for Screwing up the banks, the Markets, and our Country)! They successfully converted over 51% of the wealth from the American Middle Class to themselves… THIS IS IMPORTANT TO KNOW SO WE CAN FIX THE PROBLEM THAT THEY WON’T!
Does this administration really want to get America going? Or do they want to "Look like they’re getting America going...?" We are heading into elections so I don't believe anything in Washington now... This essay will more than likely fdall on deaf ears and not be heard…
OK, Say we have all the money in the world to “Get to Small Businesses…” HOW ARE YOU GOING TO DO IT? HOW DO YOU GET CAPITAL TO ENTREPRENEURS & THE SMALL BUSINESSES (SECTOR WHICH EMPLOYS 75% OF AMERICA)??? THE BANKS? How the hell do you put Debt into Co's that have little to NO INCOME? That is just "STUPID!"
You must get them an infusion of "Equity Capital" & there are NO SMALL BUSINESS EQUITY FIRMS LEFT!
--------I FEEL THIS IS NOTHING BUT FEEL GOOD POLITICAL WINDOW DRESSING --------
Most of Washington (90%) have no idea what they did when they Repealed Glass-Steagall in 1999. Less than 1% of America has a CLUE what it was...(99.9% are Clueless). If you are not in the business (As an Owner) you have no reason to hear of it… It was the Law which separated the Banks, Insurance Co's & the Investment Banks after the owners of the "FED" caused the manipulation of the Stock Market Crash and Bank Failures of 1929; which then resulted in the world’s Great Depression, and WWII. None of that was “Unintentional!” Neither is 10% of what the influence of the "FED" has done under the watchful "Blind Eye" of the past 10 yrs of Tyranny either... That is why there is No Economy and we are going into Debt while we generate more inflation as the prices of natural resources (OIL & GAS & GOLD) Sky Rocket. The owners of the “FED” also just happen to own most of the OIL. That’s "FACT not THEORY!" John D. Rockefeller was the richest man in the world when they organized the Federal Reserve Banks; and his “Standard Oil” had the Monopoly on Oil Refining in the U.S. F.D.R. with “Anti-Trust Laws prohibited that type of Domination of any industry in the U.S., so until recent legislation was passed that “DEFORMED” the Laws protecting Middle Class Growth, the Ownership of the Media and the markets, there was a level playing Field, and all Small Business owners (Entrepreneurs) could compete in a Free Enterprise Environment. “That Changed quickly when the GOP Congress ruled Washington with their “De-Regulation” from the mid 1990’s thru 2006.
NOW OUR GOVERNMENT WANTS TO REMOVE FEDERAL BARRIARS? (What a Joke!)
Anything that uses the word Federal "IS" a Barrier…
OK, (Since you allowed me to Rant), here are some ideas that would help…:
1) Matching Debt/Equity Funds for Start-up Co's that can be accessed through Small Cap Firms.
(DO NOT allow Banks to try doing this because they don't know squat about Equity Finance)
2) Make it easier for Small Investment Firms to get into business. (STOP ALL THE NONSENSE RULES THAT WERE ONLY PUT IN PLAVCE TO CREATE BARRIERS SO THAT THERE’D BE NO SMALL INVESTMENT FIRMS TO COMPETE WITH BANKS. The small firms probably only represented 10% of the Wrong Doing Dollars before Wall Street ran amuck! They were eliminated so that the Big Firms could END THE AMERICAN FREE ENTERPRISE SYSTEM (RULING CLASS WANTS IT ALL)!
3) Tax Credits for investments in "Start-Up Co's" with a minimum of 5 Employees (Maybe 3 Employees). I don't want to make phony one man consulting groups easy cons for loophole financings (There should be a few other considerations, but as few as possible or the whole program will become inefficient & useless). There needs to be a real effort, not success…. Nobody can or should guarantee success, but if the professionals “Do their jobs right,” they will mitigate the risks and earn.
4) Establish Training Facilities for both Entrepreneurs and Small Cap Investment Firms. (The Big Boys crushed the most essential asset of America, the Small Business Sector, and the Investment Banking Firms who supported them. It will cost money and 6 months ramp up for each firm to get Brokers and Investment Advisors Licensed & Trained to aggressively be able to conduct due diligence and assist owners and management on Small Business Financings; so that the steps of getting Business Plans, introducing Meetings, recruiting Seasoned Mgt to assist these young fledgling businesses so they pose less risk for the Investors, and try to get this small-Cap and Micro-Cap investment market fired up again…
5) Deferred Compensation Taxes. It will cost each of these Co's 2 to 3 x more money if they have to take out all the Taxes associated with Employment (early on), so if they could pay the employees “Free of Withholding, Social Security, and Workman's Comp for a 6 month period, that should get the business into "Cash Flow;" so that these Employees will a have a job at a Company that will survive These are only ideas that “Government can assist on. They don’t have to all happen!
*ALWAYS REMEMBER - Successful start-up companies need 4 things to be present.
I. A product or Service that is timely and cost efficient.
II. Timing is everything & requires that the product & talent meet by the window of opportunity.
III. MANAGEMENT Entrepreneurs who are Inventors are usually bad Managers. They need help.
IV. Capital, Proper Capital Structure isn't easy to achieve. It takes yrs of experience to do right.
Getting the Small Business Sector Growing is only the most essential aspect of our future. It employs 75% of AMERICA (For God's Sake)! Raise more Taxes? “From WHO?" If we get Small Business going you get America going. Everyone will have Jobs and Pay Taxes again. It’s always been that simple…
It's just that Nobody Cared to do anything about it... I still doubt anyone will listen or do anything about it because I believe in my heart that this Blog is just more Political B.S. so that Politicians can stand on Ceremony… WHY NOW?
THIS SHOULD’VE BEEN THE 1st THING THE ADMINISTRATION TACKLED (While they had control of Both Houses).
I fought tooth and nail for Obama, but I don’t believe in any of the self serving politicians anymore (And “I like Him!”).
I'VE TAKEN OVER 30 START UP & Small Cap Co’s Public w/ most still alive…
"I'’LL WORK FOR FREE!” (JUST TO GET THINGS GOING), BECAUSE “I’M A CAPITALIST!”
Capitalism does not require GREED to work. On the contrary, it’s GREED that doesn’t want Capitalism to work. Those who are Greedy in business don’t want others to become “Capitalized.” Capitalism works fine; but unbridled Capital markets will become dominated by those who have the most Capital, and their aim is to create Monopolies & Limit Competition. That’s what Officials (Regulations) are for… If there were no Officials, what would a Football Game look like (With Millions of dollars at stake)? The Biggest & Baddest will win every Bloody Game. Independent Investment Banks had 50% Margin Rules to follow. If we bought $50K worth of AT&T we could borrow another $%)K to buy more AT&T. In the end, we’d have $100K in AT&T stock and $50K in loans (50% Margin). Since the Banks took over Wall Street, they take $50K on deposit at the FED, and Borrow $500K, and then they go into the Market with their Investment Bank and buy $1M in AT&T.
We bought $100K worth of Stock with $50K, and they bought $1,000,000 worth of stock $50K. In 2001, when the Stock market Melted Down (We lost $7Trillion in a few weeks), the 50% rule was still in effect. Then after 911, they changed the rule to 75% (Which sounds like a 25% increase but it’s 300% increase), so now $50K buys $200K in stock! Loan Increase of 300%! (But by now, 95% of all Small-Cap Independent Investment Banks that use to Finance the Small Business Sector were gone), so the only firms that were able to take advantage of this were the Big Firms that are owned by the Banks. So the Banks take their $50K and borrowed $500K from the FED, and then go and buy $2,000,000 worth of stock. While we lost $7Trillion Dollars they bought it up “Pennies on the Dollar” and with 4,000% more leverage. So now the Banks control the stock that we use to, and we have no access to Capital, and they use “Slave State Labor to manufacture what use to be Made in America. “HOW DO YOU SEE THIS PLAYING OUT?”
Capitalism is supposed to be a means of creating an economy; not tear it down. You don’t have to be a NICE GUY to play, and you don’t need to be a Cold Blooded Prick to win either. WE DO NEED BORDERS OR THE GREEDY WILL TREAD ALL OVER THE PLACE BECAUSE THEY AREN”T INTERESTED IN AMERICA, THEY’RE INTERESTED IN THEIR WEALTH PERIOD!
So, Mr. I work for the Government & I’m here to help you, “What are you going to do?” - OR ARE YOU? -
YOU KNOW WHO I AM? WHO ARE YOU? I WANT TO KNOW WHAT YOU KNOW ABOUT BUSINESS!
WHO IS READING THIS TO DECIDE WHAT IS GOOD?
“Guns don’t kill People; People kill people with guns” If the Capital markets are controlled by a few with unlimited money (From the FED) can just buy out competitors or change Laws to crush Small Business and Free Enterprise, and then you wind up with what we have, “Corporate Anarchy.” Pigs will eventually eat themselves alive (After they eat our children).
WE NEED TO END THE FED! But until that happens, why not just reinstate the Glass-Steagall Act of 1933, and get the Banks off of Wall Street for good. Where are our leaders? YOU? “YOU REDAING THIS RANT,” What are YOU willing to do?
THE NEW WORLD ORDER IS NOTHING OTHER THAN THE "OLD WORLD ORDER" (Only the N.W.O. will include wealthy Americans in the Aristocracy). We will all work for them, the Government, or don’t work at all. There’s your Socialism…
They’ll say, it’s for your Safety, Security & to Consolidate Resources to Compete (To consolidate our recourses into theirs)! THAT'S HOW THEY WILL TRY TO SELL THIS “NEW WORLD ORDER!” IT’S ALL B.S.!!! “NOW YOU WANT TO FIX THINGS?”
Incentives, Tax Breaks, Bank Guarantees, Deferred Taxes, Matching Funds, etc. "NONE OF IT WILL WORK!” Not unless we have the infrastructure to service the 1,000's of new and fractured small businesses that are in drastic need of both Capital and Financial Services... Getting the Small Investment Firms to "Spring Up" (And they WILL) is the only way you are going to get the Money to the Businesses (Curtailing Corruption), and maximize the deployment of Capital with efficiency; as the Investment Bankers don't make 1/3 the money until the business is operating and its stock is publically traded.
THE SBA or SBIC’s will not get this done. They aren’t equipped with the working knowledge of the Markets; as they are all about Debt, Interest, Security, Collateral, and Financial Guarantees. That’s great if you are fresh out of college and you want to start up 12 businesses in 12 yrs and maybe get ½ of them to repay the loans… “YAWNING” You need Investment bankers with a No B.S. Attitude, that will sit down with SEC Lawyers, and Acct’s, a recruit a couple members to the Board’s of Directors for these Co’s (So that they don’t get side swiped or blindsided) and help these businesses grow organically 20 at a time with 500 firms hiring 50 to 200 Brokers, who will take orders, sell stocks, mange accounts, and do what Wall Street use to do, “Underwrite Businesses!” Companies that don’t “Start with $1Billion before they know if it will work…
I’ve been yelling about this for over 8 yrs now, and NOBODY WOULD LISTEN… But what do I know…?
I am ready to “Click” the [SUBMIT NEW IDEA] Button. But, “The best NEW IDEA is still the Old Idea!” Reinstate Glass-Steagall! Roll Back all the Regulations that were changed from1996 forward, and we will fix things ourselves (That’s what Entrepreneurs do). “How do you like me now?”
Thanks for reading…
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4 votes
Make it easier to hire the first one or two employees. For the busy freelancer or 1 person business the expense of hiring full-time (not subcontract) help can be a deterrent, yet in order to achieve a more solid workforce we need to be able to hire each other. A business person who has more business than they can handle needs a hand getting those first few employees in, which will allow them to take the business to ...more »
Make it easier to hire the first one or two employees. For the busy freelancer or 1 person business the expense of hiring full-time (not subcontract) help can be a deterrent, yet in order to achieve a more solid workforce we need to be able to hire each other.
A business person who has more business than they can handle needs a hand getting those first few employees in, which will allow them to take the business to the next level.
Then perhaps some PSAs (TV and online) telling people where to get more info if they are ready to hire their first employee.
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