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Banking Industry Meltdown: The Ethical and Financial isks
The 2008 financial meltdown has been rated as the worst global economic crisis after the Great Depression of 1930. It shook the financial fabric of all the nations regardless of their economic status. It also led to the closure of most of the world's renowned banks and other financial institutions. Analysts have related the problems and the causes of this meltdown to the failure of the banks in their use of derivatives (Will, Handelman, Brotherton, 2013). Derivatives are defined as the financial arrangements that financial institutions formulate in order to hedge out against a future loss. The nature if these financial assets are that they are highly profitable and at the same time perilous (Beder & Marshall, 2011). The allure of profits is what baits the managers to adopt and use them in their institutions. This study focuses on the ethical dimensions…
Beder, T.S., & Marshall, C.M. (2011). Financial Engineering: The Evolution of a Profession. New York: John Wiley & Sons
Koslowski, P. (2011). The Ethics of Banking: Conclusions from the Financial Crisis. New York: Springer Science & Business Media
Will, S., Handelman, S, Brotherton, D. (2013). How they got away with it: White Collar Criminals and the Financial Meltdown. New York: Columbia University Press
Forces Leading to Changes in the Banking Industry
The banking sector is one of the strongest industries in the whole wide world which has been thought to be one of the industries that is incapable of feeling the adverse effects of a recession. This is not to mean that the industry does not feel any effects, rather it means that the effects felt are not as wide scale as those felt by other industries such as the airline industry and oil industry. Members of the banking industry are the financial institutions and financial intermediaries which accept deposits and then use these deposits to finance their lending activities either directly to customers or through the capital markets. Typically, this industry is one which connects the customers who have capital deficits to those who have surpluses of capital.
The banking sector is thus critical in the financial system and the economy as…
Berger, Allen N. "The Economic Effects of Technological Progress: Evidence from the Banking Industry." Journal of Money, Credit and Banking 35.2 (2003): 141-76. Print.
Bertrand, Marianne, Antoinette Schoar, and David Thesmar. "Banking Deregulation and Industry Structure: Evidence from the French Banking Reforms of 1985." The Journal of Finance 62.2 (2007): 597-628. Print.
Bolt, Wilko, and Alexander F. Tieman. "Banking Competition, Risk and Regulation." The Scandinavian Journal of Economics 106.4 (2004): 783-804. Print.
Braunschweiger, Walter J., George Geyer, and Paul B. Kelly. "Banking." The Analysts Journal 8.4 (1952): 117-27. Print.
The growth of Internet has led to a desire to understand the characteristics of the users, their reasons for using the service and what the users do when connected. A huge and expanding 'Internet watching' industry has progressed to provide such data. Some statistics can be collected directly from the Internet about traffic volumes and the geographical segmentation of its users and these provide a reasonably accurate picture of what is happening. The number of host computers which are linked to the Internet continues to expand every year by over 60 per cent and their geographic distribution is concentrated within a very few countries. U.S. dominate the amount of computing power present on the Internet, and accounts for over 60 per cent of all of the host machines. There are some differences in the ways that different countries have responded to this technology. Japan and France have a relatively lower…
Banking methods. Retrieved at http://www.startups.co.uk/YdqsJJhoHWUGSg.html . Accessed 3 October, 2005
Internet / PC Banking FAQs - Answers (1)" Retrieved at http://www.is4profit.com/is4money/banking/moneyandinternet/moneyandinternet3.htm . Accessed 3 October, 2005
Internet / PC Banking FAQs - Answers (2)" Retrieved at http://www.is4profit.com/is4money/banking/moneyandinternet/moneyandinternet4.htm . Accessed 3 October, 2005
Any-Where Money: Internet Banking Systems" (Winter, 2001) Retrieved from www.net4internet.com/E-bank.pdf. Accessed 3 October, 2005
ethical issues in leadership traits that are prevalent in the corporate world. The paper goes on to discuss the solutions that are possible in event of unethical conduct.
LEADESHIP ISSUES: BANKING INDUSTY
Ethics can be defined as those steps that safeguard integrity of an individual or a society. The focus of this paper is however limited to ethics in organizations, belonging specifically to the banking industry.
Acting in accordance with ethics translates into accommodating moralistic behavior into one's conduct. Hence ethical conduct in businesses, though not very popular, plays an important role in formation of a healthy society. For instance the banking sector of any economy plays the key role in circulation of money and hence in maintenance of economy. Since it deals in supplying and receiving funds, it is highly important for it to be ethical in practices in order to safeguard the pool of funds (James J. Lynch.…
James J. Lynch. Banking & Finance: Managing the Moral Dimension. Woodhead Publishing Ltd., 1994
Howard S. Schwartz. Narcissistic Process and Corporate Decay. New York: New York University Press, 1990
Thomas J. Peters and Robert H. Waterman. In Search of Excellence. New York: Harper and Row, 1982
James Patterson and Peter Kim. The Day America Told the Truth. New York: Prentice Hall Press, 1991
Thanks to innovation and technology, it is no longer necessary for customers to wait in lines to do their banking. Technology has taken "consumers out of lines, reducing their wait times, and giving them control" (DeMarco, 2004). ATMs have been around for decades, and have made routine withdrawal and deposit transactions easy to conduct without teller assistance. Today, this has expanded to online banking.
Banking customers can now do a variety of transactions online, from the comfort of their own home, 24 hours a day, 7 days a week. Online banking allows customers to make transfers, check balances, even pay their bills online, all with a few clicks of the mouse and no waiting. Spencer (2005) offers online banking as one of twenty-four ways to simplify a consumer's life. Offering online banking, as well as ensuring customers know how to utilize the service, not only alleviates lines in the bank…
DeMarco, D. (Sept 2004). Self-serve revolution: Touch screens speeding things up for customers. World and I, 19(9). Retrieved July 21, 2005, from InfoTrac database.
Spencer, a. (Jan 2005). 24 ways to simplify your life. Cosmopolitan, 238(1). Retrieved July 21, 2005, from InfoTrac database.
Long lines in a bank lobby
Proposition 37 from the standpoint of its impact on California businesses. Is it pro-business or anti-business? What specific advantages does it have? what, if any important benefits does it provide for California? Do they outweigh the costs or inconveniences that they may create?
California is the largest food producer in the United State, and therefore the world. The farmers in the central valley grow mostly vegetable crops, but there is a fair amount grain grown also. Because California farmers grow in an area which is arid and has a propensity for attracting a large number of pests, they have used foods that are sometimes genetically altered to ensure a crop that will produce a fair yield. These genetically altered crops may have adverse health effects which are not apparent in advertising by manufacturers.
The proposition, as it is written, would seem to be anti-business because it takes a significant advantage…
Baertlein, L., & Gillam, C. (2012, Aug 16). Prop 37: California GMO fight pits big food against activists. Huffington Post. Retrieved from http://www.huffingtonpost.com/2012/08/17/prop-37-california_n_1791555.html
Dodrill, T. (2011). California banking laws. Retrieved from http://www.ehow.com/facts_7695103_california-banking-laws.html
Huff, E.A. (2012). 37 reasons why prop. 37 must pass. Retrieved from http://www.naturalnews.com/037247_Proposition_37_California_label_GMOs.ht ml
Santander is in the global banking industry. Based in Spain, Santander has operations in Europe and Latin America primarily. The current conditions for the banking industry in Europe are challenging, on account of a number of different factors. The euro crisis is perhaps the biggest issue facing the banking industry in Europe, and all European banks are exposed. Santander's exposure is thought to be relatively low as the company is well-capitalized, but some of the solutions to the problem that have been proposed would apply to all European banks, reducing the profitability of Santander if it were to face a situation where it had to increase its capitalization (AFP, 2011).
Beyond the euro crisis, the banking industry is facing a number of other challenges as well. Economic growth, particularly in Europe, is sluggish. This has the affect of reducing loan demand, creating an uncertain earnings environment (Putnis, Stimpson & Marais,…
AFP. (2011). Santander bank chief slams EU crisis plan. EU Business. Retrieved December 7, 2011 from http://www.eubusiness.com/news-eu/finance-economy.cyg
The Economist. (2011). Third time's a charm? The Economist. Retrieved December 7, 2011 from http://www.economist.com/blogs/freeexchange/2010/09/basel_iii
Penty, C. (2011). Santander Latin America strategy stalls with Colombia sale. Bloomberg. Retrieved December 7, 2011 from http://www.businessweek.com/news/2011-12-07/santander-latin-america-strategy-stalls-with-colombia-sale.html
Putnis, J., Stimpson, A. & Marais, T. (2011). European banking industry outlook. SNL Financial. Retrieved December 7, 2011 from http://www.snlcenter.com/eurobankoutlook/default.asp
...other corporations and liailities etween financial institutions" are not covered in this scheme.
There are restrictions within the framework of this scheme in that each individual, small usiness or community organization will e ale to make "only a single claim against the scheme for each failure of a financial institution..." with all claims that are "relevant" eing aggregated. Third parties will excluded from assessing the scheme to avoid a conflict of their rights under the law for making claims against the insured with life insurance policies that recognize the eneficiary ownership rights just as they are recognized under the laws that presently exist. There is a proposed 28 days grace period so that policyholders are ale to find replacement policies. In the area of deposits "monetary limits would cap the cost of the scheme." (Council of Financial Regulators - Failure and Crisis Management in the Australian Financial System, 2006) Claimants…
Chai, Jingqing, and R.B. Johnston. 2000. An Incentive Approach to Identifying Financial System Vulnerabilities. Working Paper WP/00/211. International Monetary Fund.
Cull, Robert, Lemma W. Senbet, and Marco Sorge. 2001. Deposit Insurance and Financial Development. Policy Research Working Paper no. 2682. The World Bank.
Demirguc-Kunt, Asli, and Enrica Detragiache. 2001. Does Deposit Insurance Increase Banking System Stability? An Empirical Investigation. Policy Research Working Paper no. 2247. The World Bank.
LaBrosse eds (2005) the Role of Deposit Insurance in Contributing to Financial Stability: A Global Perspective (nd) International Association of Deposit Insurers (IADI) Online available at http://www.iadi.org/html/App/SiteContent/Speech%20Nigeria%20Final%20%2015092005.pdf
worked in the banking industry as an administrative assistant. Extrinsic rewards are those external rewards that motivate behavior (Cherry, 2014). For this job, the extrinsic rewards to take the job and keep the job included a pay package and a range of benefits. There were medical and dental benefits, for example. The pay package also included a bonus, which was based on the operation's total sales volume. I received a percentage of sales as part of my package, which was designed to help me want to contribute to the success of the organization.
Intrinsic motivation is a little bit trickier. Psychologists understand intrinsic motivation as when someone engages in a behavior for the rewards that they believe they will reap. There is no external force that promises these rewards; they are simply what the person believes he or she will get for that behavior (Cherry, 2014). For me, this job…
Cherry, K. (2014). What is the difference between extrinsic and intrinsic rewards? About.com. Retrieved August 16, 2014 from http://psychology.about.com/od/motivation/f/difference-between-extrinsic-and-intrinsic-motivation.htm
isk Management Strategies for Developing Countries
The Basel Accords are among the most influential but misunderstood agreements in today's global finance. Developed in 1988 and 2004 (Deventer & Imai, 2003), Basel I and II have brought in a new era of international banking collaboration. Through quantitative and technological requirements, both accords have assisted balance banking regulation, supervision and capital adequacy requirements across the 11 nations of the Basel affiliates and many other developing market economies. Even when the Basel Accords have been used correctly and completely, neither agreement has, properly secured long-term stability within the country's banking industry.
The Basel Committee established Basel I and 11 to reduce credit risk via the minimum specifications of capital of banking institutions. Worldwide operating financial institutions are required to maintain most moderate amount of money based on a percentage of risk-weighted resources. Compared with Basel I, Basel II, which was released initially in…
Deventer, D.R., & Imai, K. (2003). Credit risk models and the Basel accords. Singapore [u.a.: Wiley.
Dewatripont, M., Rochet, J.-C., Tirole, J., & Tribe, K. (2010). Balancing the banks: Global lessons from the financial crisis. Princeton, N.J: Princeton University Press.
Marketing in the anking Industry
Prescott Valley, Arizona
Abridged Literature Review
While there are many industries in the world that are growing at a rapid pace, one of them is exceedingly doing well. This is because it relies upon the monies and funds of its customers and greatly influences the other industries as well. This is the banking industry. Although a common part of every consumer's life, the banking industry has been growing and developing globally. To understand such growth, the attention instantly goes to the strategic and marketing techniques that have been applied by the people of this industry. Therefore, to gain a thorough and concise outlook of the marketing wonders that have continue to enable the banking industry to succeed at all fronts, the research topic that has been proposed for this research paper is 'marketing in the banking industry'. This topic will not only…
Berger, A.N. (2003). The Economic Effects of Technological Progress: Evidence from the Banking Industry. Journal of Money, Credit, and Banking, Volume 35.
Chaneta, D.I. (2010). Marketing: Packaging and Branding. Journal of Comprehensive Research, Volume 8, 19-30.
Flaunet, M. (2012). Banking Industry Challenges. Retrieved from Deloitte: http://www.deloitte.com/view/en_LU/lu/industries/banking-securities/banking-industry-challenges/#.UlTYD9KBlac
Jr., G.P., & Hoskins, L. (2006). The Case for Market-Based Regulation. Cato Journal, Vol. 26, No. 3, 469-487.
The definition of usury has evolved over time. The basic premise is that a lender charges a rate of interest that is too high. Today, the standard for usury is defined in law, but initially the practice had no formal definition. Usury was traditionally banned in Christian society, has been criticized in Indian texts, and remains banned in Islamic society. Islamic banking, for example, requires that the lender either earn money from fees, or more commonly the lender exchanges the financing for an equity share, so profit-sharing, as a means of earning money without charging interest (IIBI, 2015)
During the time of King Henry VIII, usury was defined as charging interest. The idea of paying interest was new at the time, as a means of compensating the lender for the risk associated with lending. Interest, however, was not a common concept at least in England before this time. As…
IIBI (2015). Islamic banking. Institute of Islamic Banking and Insurance. Retrieved December 2, 2015 from http://www.islamic-banking.com/prohibition_of_interest.aspx
Investopedia (2015). Definition of usury. Investopedia. Retrieved December 2, 2015 from http://www.investopedia.com/terms/u/usury.asp
Perry, M. & Schweitzer, F. (2002) Antisemitism: Myth and hate from antiquity to the present. Palgrave MacMillan: New York.
UK anking Services
Use Michael Porter' diamond model to determine the specific sources of national competitiveness that have boosted/hindered the success of UK banking product/service's?
Related and supporting industries
Firm strategy, structure, and rivalry
Suppose you were the international marketing manager of a UK bank, what would you recommend to your government on how it could boost the elements of competitiveness?
Expanse in the market
Study of the mechanisms of production
Influencing merger options within the diverse market
Appreciating change in the organization
Discuss which international trade theory best explains the pattern of international trade development in UK banking and why
anking is a lucrative activity that must be understood to have varying avenues of performance in the world. The UK anking services organization has an expanse of services that have been beneficial to many businesses and monetary exemplifications in…
Buckle, M., & Thompson, J. (2004). The UK financial system: theory and practice.
Manchester [u.a.], Manchester Univ. Press.
Great Britain. (2011). The Government response to the Independent Commission on Banking.
London, Stationery Office.
It was irresponsible for banks to operate from a position of absentee management, and the careless ownership enabled reckless conduct from their "agents" who ran the day-to-day operation. While some blame must be placed on the public for continuing to spend at outrageous rates, the bank itself promoted and enabled such activity. Blankfein's argument that no one had been arrested is irrelevant since the issue at hand is whether the financial industry was responsible, not whether bank officials should be arrested. Banks made profound miscalculations concerning interest rates and loans, and should have been aware that their business practices were not feasible toward long-term success (Murphy).
Issue 7 places the theories of authors oger Lowenstein and obert Samuelson against one another. Lowenstein contends that government should bail out economic institutions; however, he does not argue that bailouts are necessary in order to assist the careless companies, but instead asserts that…
Newton, L., Englehardt, E., & Pritchard, M. (2012). Taking Side: Clashing Issues on Business Ethics and Society. New York: McGray Hill.
Murphy, a. (Nov. 4, 2008). An analysis of the financial crisis of 2008: Causes and solutions. SSRN. Retrieved from http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1295344 .
Andrews, E.L. (2008, Oct. 23). Greenspan 'shocked' that free markets are flawed. International Herald Tribune.
shadow banking system, its role in the subprime mortgage crisis, and failures of regulation within the shadow banking system. The term "shadow banking system" was coined by PIMCO's Paul McCulley in 2007 (Spanos, 2012) and refers to a banking system that includes financial intermediaries that are involved in creating credit across the global financial system, whose functions are not subject to regulatory oversight (Investopedia, 2012). The question has been debated as to whether shadow banking meets the definition of true banking. Given that the two systems perform similar functions, including credit intermediation and maturity transformation, the two should be considered parallel systems (Noeth and Sengupta, 2011).
The term shadow banking is used to describe any provision of credit taking place outside of the traditional deposit-funded lending system. This definition includes institutions that range from pawnbrokers and consumer finance companies to securities dealers as well as firms that issue corporate bonds.…
Armstrong, R., 2010. Q+A -- Regulating the shadow banking system. Fox Business. [online] Available at: [Accessed 20 April 2012].
Beckworth, D., 2010. "Deposit insurance" for the shadow banking system. [online] Available at: [Accessed 20 April 2012].
Drum, K., 2012. The shadow banking system speaks: It's not time for austerity yet. MotherJones. [online] Available at: [Accessed 20 April 2012].
Hsu, J. And Moroz, M., 2009. Shadow banks and the financial crisis of 2007-2008. Research Affiliates LLC. [online] Available at: [Accessed 20 April 2012].
Opportunities to Improve elationship Banking at Al ajhi Bank
In an increasingly globalized and competitive marketplace, many banking professionals today are faced with the need to develop informed and timely responses to changes in consumer demand, as well as fluctuations in the global economy that can have a positive or negative effect on investments. In affluent nations, this need has become especially pronounced as billion-dollar deals are routinely involved, and bankers working relationship banking operations stand to assist banks in attracting and retaining wealthy private and highly fluid commercial enterprises as long-term clientele. The enormous amounts of money that are involved make it important to formulate such responses in ways that add value to the banking operation including providing a competitive advantage. In some banks, relationship banking at this level is termed "privilege banking" or "prime account management," but the common feature of these business units is targeting high net…
About Us. (2012). Al Rajhi Bank. Retrieved from http://www.alrajhibank.com.my/corporate_
Constantinides, G.M., Harris, M. & Stulz, R.M. (2003). Handbook of the economics of finance.
CS in Saudi Arabian Banking
Social esponsibility: Attitudes, Actualities, and Possible Areas of Advancement in Saudi Arabian Banking
The global financial system has become increasingly smaller and more complex, with individual countries and their financial and banking infrastructures more intertwined and mutually dependent on each other. Because of this, understanding the role that banking systems and entities play in the social and political spheres is essential for policy makers and for individuals working in the banking sector. Of special importance are the social responsibilities that are borne by banks and the banking industry, which can vary greatly from country to country, based on a multitude of factors. The research described and proposed herein will yield a greater understanding of how these responsibilities are viewed by bankers in Saudi Arabia.
Scholarship on Saudi Arabia's banking industry has focused almost entirely on the financial implications for the country and the globe of…
Babbie, E. (2009). The practice of social research Mason, OH: Cengage.
Breakwell, G. (2006). Research methods in psychology Thousand Oaks, CA: Sage.
Butters, A. (2009) "Saudi's small steps" Time 174(15), pp. 44-77
Campbell, J. (2007). "Why would corporations behave in socially responsible ways? An institutional theory of corporate social responsibility" Academy of Management Review 32(3), pp 946 -- 967
Another issue worth mentioning is that prior to the acquisition of 2007, the BB&T employees were already being offered training programs in convenience banking. The programs were basically revolving around the techniques which would be implemented by the organization. In this order of ideas, the most focus was placed on the De Le ue coin counting machine and the Datacard 150i instant issue debit card machine. Employees were taught how to operate, maintain, balance and audit the according operations. Emphasis was also placed on the elationship Bankers in reference to the new account bounding process including free gifts and the efer-a-Friend process. The improvement plan sees the continued training programs which teach staff members how to most efficiently operate the new systems and how to explain their benefits and functionality to the customers. Also, BB&T should remain channelled on the emergent changes affecting the market and the industry and should…
2009, BB&T Corporation, Hoovers, http://www.hoovers.com/bb&t/--ID__14758 -- /free-co-factsheet.xhtmllast accessed on February 9, 2009
2009, Website of the BB&T Corporation, http://www.bbt.com/last accessed on February 9, 2009
2007, InSite Communicating Within, BB&T Insite
Coastal Federal Bank Unveils the Carolina's Most Convenient Bank, PR Newswire
Bankwest is an Australian banking institution that provides banking services to all Australians equally. This bank is a relatively old institution. It has been in operation for over a hundred years building a reputation of community involvement and support that exudes compassion and benevolence. They do this by supporting many charitable projects and organizations in addition to a number of banking services such as Some of those being retail, business, institutional, investing funds management, "superannuation, insurance and investment and share broking" (Bankwest About 2011).
Bankwest was founded in 1895. At that time it was the Agriculture Bank of Western Australia. The government in Australia designed the bank to build up the farm production industry (Bankwest History 2011).
Several years later in 1945, the bank started trading on the stock exchange on experienced growth on the western area of Australia. Eventually becoming an industry leader in the market (Bankwest History 2011).…
BankWest.com: CaseStudy. 2010. Industry Specialization Media Awards. < http://www.bankwest.com.au/Media_Centre/Bankwest_Awards/Best_of_the_Best_2010/index.aspx [12 March 2011].
Tribe, A. 2011. Business. < http://www.bankwest.com.au/Business / > [13 March 2011].
BankWest.com:Community. 2011. About Community Sponsorships. < http://www.bankwest.com.au/About_Us/Community_Sponsorships/index.aspx > [12 March 2011].
BankWest.com: Home Loans. 2011. Personal Home Loans. < http://www.bankwest.com.au/Personal/Home_Loans / > [ 12 March 2011].
Ethics, Values, Social esponsibility
Bailout of Banking Industry in United States
Ethical Compliance by Banking Industry
It is quite common in American history that government comes for the rescue of companies and organization in the time of financial crisis. General motors' acquisition was one such example where saving GM meant saving the nation. When Government takes measure for the welfare of any segment of the economy, it then becomes responsibility of the organizations that they comply with social responsibility and ethical standards so that it should respond to its social character and use the benefits provided by the government in the honest fashion. The recent bailout of banking sector by U.S. government, and the misappropriation and misuse of these funds, have raised a big question mark on the compliance to ethical standards by the bank.
United States government has a long history of bailing out its financial institutions. Some of…
Amadeo, K. (2012). What Exactly Was the Bank Bailout Bill? retrieved from http://useconomy.about.com/od/criticalssues/a/govt_bailout.htm
Applebaum, B. (2009). Financial Rescue I.G. Says Banks Funneled TARP Aid to Various Expenses, The Washington Post, Retrieved from http://www.washingtonpost.com/wp-dyn/content/article/2009/07/19/AR2009071901770.html?nav=hcmodule
Congressional Budget Office. (2010), Report on the Troubled Asset Relief Program -- November 2010, Retrieved from http://www.cbo.gov/publication/21942
Davis, M. (2009). Top 6 U.S. Government Financial Bailouts, Retrieved from http://www.investopedia.com/articles/economics/08/government-financial-bailout.asp#axzz1ujUlc2ZS
190). The Act also helped to create a "too-big-to-fail" mindset (Walter, 2004) that would have profound implications during the economic downturn of 2008 and beyond.
Why did you include this piece of legislation in your list? The Act is described by Sammin (2004) as being "the biggest revision in financial services law since the Great Depression" (p. 653).
iegle-Neal Interstate Banking and Branching Efficiency Act of 1994
What were the problems/conditions giving rise to the legislation? apid consolidations among the nation's banks were creating the potential for diverting needed banking resources from communities (ose, 1997).
What were the major provisions of the Act? The iegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (hereinafter "the Act") contained the following major provisions:
A. Bank holding companies that are adequately capitalized and managed can acquire a bank anywhere in the United States one year after this law is enacted.…
Alexander, K., Dhumale, R. & Eatwell, J. (2006). Global governance of financial systems: The international regulation of systemic risk. New York: Oxford University Press.
Coustan, H., Leinicke, L.M., Rexroad, W.M. & Ostrosky, J.A. (2004). Sarbanes-Oxley: What it means to the marketplace; from support to apprehension, accounting professionals express their thoughts. Journal of Accountancy, 197(2), 43-44.
Feinberg, R.M. & Reynolds, K.M. (2010). An examination of entry and competitive performance in rural banking markets. Southern Economic Journal, 76(3), 624-625.
Gup, B.E. (2003). The future of banking. Westport, CT: Quorum Books.
In either case, privacy issues were known to be much more complicated than mere issues of personal secrecy. In fact, as Richard Posner suggested more than 20 years ago, there is a fundamental economics of personal privacy -- an economics that is in large part responsible for, and untiringly organic to, our Constitution.
It is feasible, therefore, that there are rudimentary, biological, economic bases at the very roots of humankind's insatiable desire and need for privacy and security. (Posner, 1983)
As Mcride's research further indicates, "In 2002, the Potomac Institute for Policy Studies initiated Project Guardian: Maintaining Civil Liberties in the Information Age. The effort is aimed at shepherding discussion from all qualified voices on issues central to the tradeoff between privacy and security, particularly as this balance is threatened, or is perceived to be compromised, by advances in technology. Guardian is enriching the discussion by establishing a rigorous, multiway…
1) David Brin. "Coming Full Circle -- 21st Century Defense Will Stress Citizenship." Proceedings from Out of the Box and into the Future. Arlington, Va.: Potomac Institute for Policy Studies, 2001.
2) Michael Fitzgerald. "Alien lands big Gillette deal, but privacy is not on razor's edge." Small Times. 24 January 2003. www.smalltimes.com/document_display.cfm?document_id=5363.
3) Amitai Etzioni. The Limits of Privacy. New York: Basics Books, 1999.
4) Richard a. Posner. The Economics of Justice. Cambridge, Mass.: Harvard University Press, 1983.
Marketing in Banking
The topic being researched for this doctoral work is marketing in the banking industry. Before delving into the research too much for this topic, the researcher will first enumerate the goals that are to be attained. These goals, as also suggested by the parameters of the assignment, include meeting proper validity and reliability standards, avoiding bias, not posing hypotheses or ideas that are self-fulfilling prophecies or that have desired answers on the part of the researcher. There is also the consideration of using critical reasoning and strong logic skills so as to avoid making conclusions that are not supported by the evidence and/or that are completely contradicted by that same evidence (Leedy & Ormrod, 2010).
eliability & Validity
eliability and validity are two hallmarks of any good research and they must both be satisfied for the research outcomes to have any staying power or good ongoing reputation…
Leedy, P.D., & Ormrod, J.E. (2010): Pages 1-8, 28-35
Morris, F. (2009, October 2). Enforcing the Law - Eight Years Later. New York Times.
Retrieved August 18, 2013, from economix.blogs.nytimes.com/2009/10/02/
The asylum automatically granted under the Swiss constitution was denied for those seeking it for religious reasons. y 1942, only 9,150 foreign Jews were legally resident in Switzerland, an increase of just 980 since 1931. It was the Swiss government that requested the German government to help it identify Jews by stamping all Jewish passports with a prominent letter "J," following the Nuremberg acts in 1935. "y 1942, acting at the behest of Switzerland's establishment and the majority of its people, its authoritarian police apparatus was dedicated to keeping the country 'pure' and to saving it from being 'overrun with Jews'." Until 1942, the working Jewish community in Switzerland was forced by the government to support Jewish refugees.
The other side of the German interest in Switzerland's banks was related to the business of Germany and the looting of conquered countries. y 1941, Germany had exhausted all of its foreign…
Bazyler, Michael J. Holocaust Justice: The Battle for Restitution in America's Courts. New York: New York University Press, 2003.
Borowiec, Andrew. "World's leaders gather in Geneva." The Washington Times. http://washingtontimes.com/world/20-5793r.htm .
Bower, Tom. Nazi Gold. New York: Harper Collins, 1997.
Clarke, William. "Nazi Gold: The Role of the Central Banks - Where Does the Blame Lie?" Central Banking, Volume VIII Number 1. Summer 1997. April 22, 2005. http://www.bigeye.com/nazigold.htm .
Internet Risk Management in the Banking SectorExecutive SummaryTechnological advancement in the banking industry, like in other economic sectors, has continued to increase. Banking organizations have allowed a wide array of products and services to become accessible and offered to customers via an electronic channel commonly known as e-banking or internet banking. According to Uppal, internet banking can be defined as a system that allows bank customers to access their accounts and available bank products and services information through a personal computer or other intelligent devices (39). E-banking offers numerous benefits to banks, businesses, and customers.For instance, customers can access any service they want without visiting a banks branch office. The technology is also convenient, easy-to-operate, time-efficient, and always available (it is not time restrictive). For banks, it has contributed to increased efficiency and competitiveness and reduced customer service time. The creation of new services for customers and small businesses, such…
Work CitedAlhawari, Samer, et al. Knowledge-based risk management framework for information technology project.International Journal of Information Management32.1 (2012): 50-65.Atkins, Derek, et al.Reputational risk: a question of trust. Global Professional Publishing, 2006.Bodla, B. S., and Richa Verma. Credit risk management framework at banks in India.The IUP Journal of Bank Management8.1 (2009): 47-72.Carlson, John, et al. Internet banking: market developments and regulatory issues.Manuscript, the Society of Government Economists, Washington DC(2001).Dorfman, Mark S.Introduction to risk management and insurance. (9th Edition). Englewood Cliffs, N.J: Prentice-Hall., 1998.Florina, Virlanuta, Moga Liliana, and Ioan Viorica. RISK MANAGEMENT OF E-BANKING ACTIVITIES.Annals of the University of Oradea, Economic Science Series17.3 (2008). Georgescu, Mircea. Some issues about risk management for E-banking, accepted paper series Social Science Research Network. (2006).Hosein, Nasim Z. Internet banking: Understanding consumer adoption rates among community banks.Shantou University, Shantou, China(2010).Kumar, Muneesh, Mamta Sareen, and Eric Barquissau. Relationship between types of trust and level of adoption of Internet banking.Problems and Perspectives in Management10, Iss. 1 (2012): 82-92.Nzevela, Anne K.The effect of internet banking risk management strategies on financial performance of commercial banks in Kenya. Diss. The University of Nairobi, 24 (2015).Ramakrishnan, Ganesh. Risk management for internet banking.Information Systems Control Journal6 (2001): 48-51.Safeena, Rahmath, and Hema Date. Customer perspectives on e-business value: a case study on internet banking. Journal of Internet Banking and commerce15.1 (2010): 1.Sergeant, Carol. E-Banking: Risks and Responses.U.K. Financial Services Authority(2000).Sokolov, Dmitri. E-banking: risk management practices of the Estonian banks.Institute of Economics at Tallinn University of Technology101 (2007).Solanki, Virender Singh. Risks in e-banking and their management.International Journal of Marketing, Financial Services & Management Research1.9 (2012): 164-178.Tarantino, Anthony.Essentials of risk management in finance. Vol. 53. John Wiley & Sons, 2010.Uppal, R. K. Strategies to mitigate risk in internet banking.International Journal of Management(2011).Zarei, Shapoor. Risk management of internet banking.International Conference on Artificial Intelligence, Knowledge Engineering, and Data Bases. Cambridge, UK. 2011.
Spatial tracking systems that make banks' floor plans and product positioning more effective;
5. Intelligent interactive displays that reflect the interests of the watcher;
6. Use of wireless tablet personal computers (PCs) for client interviewing; and,
7. Videoconference virtual experts for collaborative selling (56).
The same features that characterize high performance banks in their brick-and-mortar operations appear to relate to the use of technology as well, with the best performing banks having identified the optimum mix of services for the markets they serve. For instance, Grasing reports that, "Banks are taking a variety of approaches in implementing technology to make improvements in retail delivery. The methods differ, depending on the bank management's mindset toward the purpose of the software and its valued place in the new business or service delivery processes" (3). The main point in this area is that high performance banks apply technology in ways that help minimize…
Bielski, Lauren. (2007). "Today's Elements Tomorrow's Branch: The Branch Was Supposed to Phase out. It Hasn't and May Never. What Will the Branch of the Future Feature? Self
Service and Collaboration." ABA Banking Journal 99(6): 55-57.
DePrince, Albert E., William F. Ford and Thomas H. Strickland. (1999). "The New High
Performers Stretch Their Lead." ABA Banking Journal 91(11): 36.
Video Tape and Disc ental
Health and Personal Care Stores
Table 2: Comparisons of Most isky Small Business (BizStats.com, cited by Telberg, 2003)
An Engine of Economic Growth
More and more, Craig, Jackson and Thomson (2007) argue, policymakers perceive the small business sector "as a potential engine of economic growth. Policies to promote small businesses include tax relief, direct subsidies, and indirect subsidies through government lending programs." These authors stress that encouraging lending to small business purports the Small Business Administration's (SBA's) primary policy objective of the loan-guarantee program. In their study, Craig, Jackson and Thomson (2007) implement empirical research to focus on SBA-guaranteed lending, utilizing a panel data set of SBA-guaranteed loans, they assess whether SBA-guaranteed lending discernibly impacts local economic performance. Ultimately, these authors cautiously conclude that "There is a positive (although small) and significant relationship between the level of SBA-guaranteed lending in…
Authority, purpose and scope. (2002). EXTENSIONS of CREDIT by FEDERAL RESERVE BANKS (REGULATION a). Retrieved November 10, 2007, at http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=57016e116171461106934124459aa8aa&rgn=div5&view=text&node=1-2:22.214.171.124.1&idno=12#12:126.96.36.199.188.8.131.52 http://www.questia.com/PM.qst?a=o&d=108945401
Bannock, G. (2005). The Economics and Management of Small Business: An International Perspective. New York: Routledge. Retrieved November 12, 2007, from Questia database: http://www.questia.com/PM.qst?a=o&d=108945415
Bielski, L. (2006). On the Hunt for the Meaningful Segment: With a Deluge of Customer Information to Choose from, Bankers Struggle to See Their Customers in More Refined, Specific Ways. ABA Banking Journal, 98(9), 45+. Retrieved November 12, 2007, from Questia database: http://www.questia.com/PM.qst?a=o&d=5017258794
Brew, J. (2007). Taxes: The Forgotten Piece of Bank Profits Investigating Two Overlooked Strategies Could Put You on Your Way to Cutting Taxes by Half. Got Your Attention?. ABA Banking Journal, 99(5), 22+. Retrieved November 12, 2007, from Questia database: http://www.questia.com/PM.qst?a=o&d=5020964964
Indeed, risk-seeking is pervasive in the financial industry, as competition compels banks to seek higher returns. Regulation such as capital requirements can help to reduce risk-seeking behavior, although the negative affect such regulations have on value can ultimately encourage at least some degree of risk-seeking. Despite this unintended potential consequence, regulation serves to neuter overly aggressive bankers and reduces risk in the banking system. Reducing the risk in the banking system is congruent with the government's objective of making effective use of taxpayer money.
A fourth consideration is that consumers demand regulation. hile this does not constitute an economic case for regulation, it must be understood that governments are not motivated by purely economic considerations. Consumers want to know that their deposits are safe and that they can access money when needed for homes, vehicles and small businesses. Consumer demand, while irrational, is a key driver in the level of…
Llewellyn, D. (1999). The economic rationale for financial regulation. Financial Services Authority. Retrieved November 13, 2009.
Hellmann, T., Murdock, K. & Stiglitz, J. (2000). Liberalization, moral hazard in banking, and prudential regulations: Are capital requirements enough? The American Economic Review. Vol. 90, 1, 147-165.
economic crisis in Europe and the increasing costs for European countries to borrow money and bail out other Euro countries in financial distress. The EU nations that use the Euro have experienced a crisis among certain countries with high debt requiring bailouts for Greece and Ireland and the likelihood that Portugal and Spain may also need a bailout. Postponing the restructuring of high interest debts has led to further crisis rather than resolving any of the problems faced by insolvent countries. Huge transfer payments from the more powerful Euro countries, like Germany, to the failed economies of Greece and Ireland have made investors nervous and led to less investment at a crucial time. The author suggests that the debts of troubled countries need to be restructured now in order to create a sustainable payment to increase confidence and secure future payments.
Creditors will also have to shoulder some of the…
Bamberger, K.. (2010). Technologies of Compliance: Risk and Regulation in a Digital Age. Texas Law Review, 88(4), 669-739. Retrieved January 21, 2011, from ABI/INFORM Global. (Document ID: 1995143041). http://www.egloballibrary.com/egl/html/institutes/1086/homepage/library.jsp
Corder, J. (2009). The Federal Reserve System and the Credit Crisis. Public Administration Review, 69(4), 623-631. doi:10.1111/j.1540-6210.2009.02011.x http://ehis.ebscohost.com.csuproxy.egloballibrary.com/ehost/detail?hid=6&sid=feb1c9d6-ff89-462b-9741-b5b3cfdd54aa%40sessionmgr12&vid=8&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=buh&AN=42960193
Europe finance: Time for Plan B. (2011, January). EIU ViewsWire. Retrieved January 19, 2011, from ABI/INFORM Global. (Document ID: 2241366821).
Assuming the increased attention to customer satisfaction saves at a minimum just 10 accounts, this will be worth approximately over $200,000 over the life of the accounts assuming a modest level of financial activity per account. The fixed costs of this recommendation are none as Google Analytics is free and the incremental IT-based costs of maintaining the linked code and the internal training could be covered by Overhead Cost Allocations already made to spread operating costs across the bank. The significant revenue upside is the potential for customer acquisition, customer retention and customer satisfaction from creating services that better align with the needs of customers over time. Differentiating banks' services on the ability to offer services that are more closely aligned to their needs than competitors can be a significant source of revenue over the long-term. Using Google Analytics as the basis of the strategy to complete this first recommendation…
Commonwealth Bank of Australia
etail Banking Service
Premium Business Services
Marketing Strategies at CBA
National Australia Bank
Australian and New Zealand Banking Group
Western Pacific Bank
Sustainable Competitive Advantage
One Stop Solution
Commonwealth Bank of Australia
Commonwealth Bank of Australia:
Headquartered in Sydney, Australia, Commonwealth Bank of Australia or CBA is one of the four large banks of Australia. The bank was established in 1911 as a government bank, since then, it has seen tremendous growth. Today, Commonwealth Bank of Australia is a multinational bank with operations across United States of America (USA), United Kingdom (UK), Fiji, New Zeeland and Asia. The bank got privatized in 1996, with issuances of shares worth 1.2 Billion USD in 1991, 1.7 Billion USD in 1993, and 5 Billion USD in 1996. As of January, 2008, Commonwealth Bank of Australia was the second largest Australian listed company…
Anz.com. 2014. Personal - Online Banking | ANZ. [online] Available at: http://www.anz.com/personal / [Accessed: 29 Mar 2014].
Commbank.com.au. 2014. Personal - Commonwealth Bank. [online] Available at: https://www.commbank.com.au / [Accessed: 29 Mar 2014].
Commbank.com.au. 2014. Tools - Commonwealth Bank. [online] Available at:
These can include the stimulus package, though, because the Obama Administration is still offering stimulus dollars to banks and other companies that need help and cannot take care of their customers in the way that they used to and preferred to.
Figure 1: How Severe is the Subprime Mess?
Obviously, the subprime mess is a serious concern for everyone. The stimulus package was designed to help the banks and the people who borrowed from them with the fact that they could not pay for the debts that they had created for themselves. That was true for the people who had mortgages, and also true for the banks that loaned money to these people. The stimulus package was designed to help them both out so that they could take care of their debts and move forward again. However, the economic stimulus package has not fixed everything that was hoped. There are…
Anderson, Mark (2009-06-30). "Down in flames: Why Money Store was a bust." Sacramento Business Journal. American City Business Journals, Inc.
"Bank vows $20 billion for green projects." msnbc. 2008-02-06. http://www.msnbc.msn.com/id/17500301/ .
"Credit Cards' Latest Pitch: Green Benefits." Wall Street Journal. 2007-11-30. http://online.wsj.com/article/SB120225763311445823.html .
Freer, Jim (2007-03-09). "BofA donates $1M to Camillus House." South Florida Business
Management Issues Facing Australian Banks in Asia Today
Today, the Australian banking industry enjoys a high level of confidence among domestic and international investors alike, and the nation has managed to weather the fallout from the Asian financial crisis and Great ecession far better than many of its neighbors, and continues to grow economically. This economic development is due in large part to Australia's increasing commercial trade and cultural exchanges with its largest trading partner, China (Chinese economy, 2016). Not surprisingly, the Australian banking industry has taken advantage of these opportunities to establish an ever-increasing number of branches in China, which have largely experienced positive returns on their investment. Nevertheless, given the fundamental cultural differences and worldviews that exist between consumers in Australia and China, it is the argument of this paper that there are also a number of significant management issues facing Australian banks in Asia in general and…
Allen, D. E. & Powell, R. (2011, March 1). Customers and markets: Both are essential to credit-risk measurement in Australian banks. Australasian Accounting Business & Finance Journal, 5(1), 57-61.
Anbari, F. T. & Khilkhanova, E. V. (2009). Managing cross-cultural differences in projects. Orlando, FL: PMI Global Congress North America.
Australia's banking industry. (2011). Australian Trade Commission. Retrieved from http://www.austrade.gov.au/articledocuments/2792 / australias-banking-industry.pdf.aspx.
Australian banks in Asia. (n.d.).
The development of the prototyping methodology
The Benefits of using Prototyping today
The evolution of apid Prototyping
The creation and development of three banking websites using prototypes
Prototyping for banking related GUI
sing mobile phones for banking
Banking systems using ATMs and ADCs
Prototyping in the Banking Field
What is Prototyping?
The Web defines prototyping as the term that is used to describe the process by which physical mock ups or models are made up out of the proposed designs. In the days before the wide usage of the computer aided technology, prototyping was done using traditional models. Today however, prototyping is done using three dimensional computer models. This method is definitely more efficient as well as quicker than the traditional methods. The computer-aided prototyping is also referred to as 'apid Prototyping'. (Fundamentals of Graphics Communication, 3/e) Sometimes, certain partial aspects of the program are created using…
"A Current Report of the Activities from the Banking Industry Technology Secretariat" BITS Bulletin. Retrieved From
http://www.bitsinfo.org/Feb99.pdf Accessed on 6 December, 2004
Brinck, Tom; Darren, Gergle. "The Design of Banking Websites: Diamond Bullet Design" Retrieved From http://www.diamondbullet.com/iterative.pdf Accessed on 6 December, 2004
"Chapter 14 - Programming and Languages" (2001-2002) Computing Essentials. Irwin McGraw Hill. Retrieved from http://www.mhhe.com/it/oleary/ce01-02/student/olc/glo_ch14.mhtml Accessed on 6 December, 2004
This is going to be massive challenges internally as the service levels must be consistently high to meet customer expectations to reduce churn (Cutcher, 2008). If ING Direct can attain this level of internal efficiency then they will continue to grow. Yet this is the flex point of their business model and it has to expand to meet customer expectations and hold churn constant or reduce it over time. It is a challenging business model yet ING Direct shows potential to handle it.
Sven C. Berger, and Christian M. Messerschmidt. 2009. Babbling before banking? Online communities and pre-purchase information seeking. The International Journal of Bank Marketing 27, no. 6, (September 20): 446-466.
Chesbrough, H.. 2011. Bringing Open Innovation to Services. MIT Sloan Management eview 52, no. 2, (January 1): 85-90.
Cutcher, L.. 2008. Service sells: Exploring connections between customer service strategy and the psychological contract. Journal of Management and…
Sven C. Berger, and Christian M. Messerschmidt. 2009. Babbling before banking? Online communities and pre-purchase information seeking. The International Journal of Bank Marketing 27, no. 6, (September 20): 446-466.
Chesbrough, H.. 2011. Bringing Open Innovation to Services. MIT Sloan Management Review 52, no. 2, (January 1): 85-90.
Cutcher, L.. 2008. Service sells: Exploring connections between customer service strategy and the psychological contract. Journal of Management and Organization 14, no. 2, (May 1): 116-126.
Dunford, R., I. Palmer, and J. Benveniste. 2010. Business Model Replication for Early and Rapid Internationalisation: The ING Direct Experience. Long-Range Planning 43, no. 5/6, (October 1): 655.
The company that we are examining is Satander Group. This is a firm that is a subsidiary of Sovereign ank. To determine the strengths and opportunities facing the company we will look at the Ansoff Matrix. This is when a corporation is focusing on a number of different factors to include: market penetration, market development, product development and diversification. These elements are important, because they are identifying how quickly the firm is growing in various segments of the industry. elow is the table for the Ansoff Matrix of the firm.
Ansoff Matrix Satander
Market Penetration -- 80 million customer around the world
Product Development - Corporate usiness Center Solutions
Market Development -- 140 thousand branches / 35 thousand ATMs.
Diversification -- The purchase of RS.
(Ansoff Matrix 2011)
Market penetration is when you are looking at the company's ability to be able to maintain…
2011 Financial Report, 2011, Santander, Available from: [26 December 2011].
About Satander, 2011, Sovereign Bank, Available from: [26 December 2011].
About the Group, 2011, Satander, Available from: [26 December 2011].
Ansoff Matrix, 2011, Quick MBA, Available from:
industry in America are a varied lot, ranging from self-righteous and mean-spirited individualists to community-minded altruists. The tensions among these capitalist types is as evident today as it was in the days when Ayn Rand first penned The Fountainhead. Since Rand was a Russian immigrant, it is not particularly surprising that her experiences with socialist and communist societies colored her perspective of capitalism, to a degree reminiscent of a defensive reaction formation. The protagonists in the film Atlas Shrugged engage in a capital strike that is intended to bring the economy to a standstill in order to emphasize the rightness and importance of laissez-faire capitalism. The decline of the transcontinental railway stands in for the future of America if it practices communism and upholds the values of moral relativism. The fundamental tenant of these industrialists was that they were entitled to function according to a natural order that encouraged individuals…
They could not foresee the housing market falling as it did, and the number of foreclosures it would create, and so, they aggressively continued to pursue the market when they should have been cutting back. The top executives left the company, but they were not fired, in fact, Killinger retired, comfortably it would seem. The customers of the bank, especially those with mortgages, are the ones who really will suffer in the long-term. The bank will rebound, but those with foreclosed homes never got the chance for a bailout, and so, they lost everything, while the executives and leaders of the bank are not charged with any wrongdoing. Luckily, the American taxpayers did not suffer, either, because JP Morgan Chase financed the takeover and the continuing operations of the bank.
In conclusion, WaMu's failure came about due to a number of reasons. They invested far too heavily in the sub-prime…
Adler, Joe, and Hopkins, Cheyenne. "FDIC's 'Big One': Long Prelude Gave Way to a Sudden End." American Banker, 29 Sept. 2008, Vol. 173, Issue 188.
Cocheo, Steve. "Kerry Killinger Builds His Dream Bank." ABA Banking Journal 93.8 (2001): 22.
Editors. "Washington Mutual, Inc." New York Times. 27 Sept. 2008. Business, 1.
Ivy, Bob and Shen, Linda. "Washington Mutual Hobbled by Increasing Defaults on Option ARMs." Bloomberg.com. 15 Sept. 2008. 11 Dec. 2008. http://www.bloomberg.com/apps/news?pid=20601087&sid=aNSwdt57nTBI&refer=home
In assessing which of these models of a market would be most beneficial to the interest of a business, the most obvious choice is a pure monopoly. Although this model does not necessarily provide the best option for operations in terms of many aspects regarding society as a whole, in terms of business sense, it is the most beneficial and profitable model for a firm to operate in. As a business owner, if the product or service provided by a firm does not face competition from any other firm, the costs of providing the product can be lowered, supply can be determined at the full discretion of the firm, and pricing can also be fully left up to the firm.
Additionally, in some industries, a pure monopoly serves the purpose of providing stability and uniform standards. The Microsoft case is one in which this is a strong argument, as…
Bloch, David (1996) "The Salt Monopoly in France," published online at http://salt.org.il/frame_econ.html. Accessed 5/20/06.
Boardman, Anthony E., and Aidan R. Vining (1989) "Ownership and Performance in Competitive Environments." Journal of Law and Economics 32 (April 1989): 1-34.
Cusumano, Michael, and Richard W. Selby (1995). Microsoft Secrets: How the World's Most Powerful Software Company Creates Technology, Shapes Markets and Manages People. Free Press.
Mankiw, Gregory (2003). Principles of Economics 3rd edition. Mason, OH: Thomson Higher Education.
Cyber Attacks on Financial Institutions
The finance industry has continued to receive more targeted and sophisticated cyber attacks from criminals. These criminals often email phishing campaigns to customers which have remained the most successful methods of targeting financial institutions. New innovations in banking, like online and mobile banking, have continued to create new vulnerabilities for cyber thieves. To minimize the efficiency of these attacks, banks have devised improved communication and educational tools for customers, and procedures for quick interventions in the event of an actual attack. However, beyond simply creating harmful software intended to hack online bank details, criminals have found ways to subvert the software and servers owned by prestigious financial institutions to make their phishing campaigns more effective; this technique is known as infrastructure hijacking (Pettersson, 2012).
In 1998, one of the foremost examples of infrastructure hijacking ever discovered is known as The Morris worm. This…
Cordle, I. P. (2014, August 7). TotalBank responds to computer security breach, Miami Herald. Retrieved from http://www.miamiherald.com/news/business/article1978822.html Comment by dkamari: are all of these cited in your paper? If not, do not list them.
Mossburg, E. (2015). A Deeper Look at the Financial Impact of Cyber Attacks. Financial Executive, 31(3), 77-80. Retrieved from http://eds.a.ebscohost.com.ezproxy.umuc.edu/
Crossman, P. (2015, March 5). Is Apple Pay a Fraud Magnet? Only If Banks Drop the Ball. Retrieved from American Banker: http://www.americanbanker.com/news/bank-technology/is-apple-pay-a-fraud-magnet-only-if-banks-drop-the-ball-107312
Dean, B. (2015, March 4). Why companies have little incentive to invest in cybersecurity. Retrieved February 18, 2016, from http://theconversation.com/why-companies-have-little-incentive-to-invest-in-cybersecurity-37570
The firm's balance sheet, however, is very healthy, with great liquidity and no long-term debt.
The fourth largest company in the industry by market cap is Builders FirstSource. This company has a stock price of $5.31. It has no P/E, since it is losing money. The company is focused on products for residential construction in the southern and eastern states, so the housing recovery needs to be in those regions for this company to benefit. The consistent losing of money, however, makes this company a risky investment, as does the high level of long-term debt. The beta is 2.3, which is highly volatile.
The fifth-largest company by market cap is Orchard Supply Hardware Stores, which is a California-based competitor to Home Depot and Lowe's. Its stock is priced at $10.11. The company lost $8.08 per share last year and is on a downward trend in revenue, gross income, operating income…
No author. (2012). How to value stocks. Motley Fool. Retrieved November 11, 2012 from http://www.fool.com/investing/beginning/how-to-value-stocks.aspx
No author. (2012). Stock-picking strategies: Introduction. Investopedia. Retrieved November 11, 2012 from http://www.investopedia.com/university/stockpicking/#axzz2Btw9KNL9
Skariachan, D. (2012). Permanent fix of U.S. housing to take time: Home Depot CEO. Reuters. Retrieved November 11, 2012 from http://www.reuters.com/article/2012/10/11/us-homedepot-ceo-plans-idUSBRE89A1M420121011
Yahoo! Finance. (2012). Home improvement stores. Retrieved November 11, 2012 from http://biz.yahoo.com/ic/736.html
intra-industry international trade within the standard international trade classification SITC6, which represents manufactured foods classified chiefly by material. The scope of this paper is limited to processed foods, and includes analytical frameworks from the gravity model, and classic approaches to product differentiation, product commoditization, pricing, and market structure.
eferences to market structures in the literature typically oversimplify the dynamics influencing the development of market types -- perfect competition, monopolistic competition, oligopoly, and monopoly -- and this tendency is exacerbated when the focus is on intra-industry trade. Further, the distinctions become considerably more obfuscated when companies that are in the same trade do business in both domestic and international markets. A global manufacturing strategy is the goal of most multinational companies, and rationalizing manufacturing strategies is an objective for nations, as well (Lee, 1984). For instance, assume that a country has the industrial infrastructure to produce canned beverages, but there are…
Anderson, J.E. (2011). The gravity model. Annual Review of Economics, 3. Boston College.
Arribas, I., Perez, F., and Tortosa-Ausina, E. (2009). Measuring globalization of international trade: Theory and evidence. World Development, 37(1), 127-145. doi: 10.1016/j.worlddev.2008.03.009
Baier, S.I., and Bergstrand, J.H., (2009). Bonus vetus OLS: A simple method for approximating international trade-cost effects using the gravity equation. Journal of International Economics. Retrieved http://linkinghub.elsevier.com/retrieve/pii/S0022199608001062
Berstrand, J.H. (1985). The gravity equation in international trade: Some micro-economics foundations and empirical evidence. Review of Economics and Statistics, 67(3), 474-481. Doi: 10.2307.1925976
Intra-Industry International Trade: Benefits and Costs
Trade is brought about by specialization. People specialize in those goods and services that they can produce effectively, and since they cannot survive on only these, exchange their surplus production for other items that they need, but do not produce. There are mainly two types of trade in this regard; international and domestic. The domestic form of trade refers to the exchange of trade items (services and goods) within a country's borders. International trade, on the other hand, can be defined as "the exchange of goods and services among residents of different countries" (Chacholiades, 2006). International trade can take either of two forms; intra-industry or inter-industry forms of trade. Inter-industry trade is trade between industries, whereas intra-industry trade takes place within industries. Intra-industry trade, therefore, refers to the importation and exportation of same-industry items of trade (Gandolfo, 1998).
International trade has been on…
Boyes, W.J. & Melvin, M. (2007). Microeconomics (7th ed.). Boston, MA: Houghton Mifflin Company.
Chacholiades, M. (2006). The Pure Theory of International Trade. Piscataway, NJ: Transaction Publishers.
FAO. (2000). International Trade: Some Basic Theories and Concepts (Module 2). The Food and Agricultural Organization. Retrieved from http://www.fao.org/docrep/003/x7352e/x7352e02.htm
Gandolfo, G. (1998). International Trade Theory and Policy. Rome: Springer.
Intra-Industry International Trade
Standard trade theory and its deviations
The classical theory of international trade can be traced back to the founding father of capitalism Adam Smith: Smith's 1776 Wealth of Nations theorized that free trade would be beneficial to all nations. Smith stated that much like merchants, nations should specialize in the particular goods and services which they could produce most efficiently and trade with other nations who could produce alternate goods and services equally efficiently. Thus free trade resulted in advantages for both trading parties. Smith's theory was later fleshed out by David icardo in his Principles of Economics. iccardo stated that free trade could optimize efficiency for every country on a global level by reducing the inefficiencies generated by the excess resources involved in producing the goods and services the nation was not suited to produce (Sen 2010: 2).
This common wisdom remained relatively consistent…
Agglomeration economies. (2013). Economics Help. Retrieved from:
Carlton & Perloff. (2010). Strategic trade. Modern Industrial Organization (4th ed). Pearson.
Retrieved from: http://wps.aw.com/aw_carltonper_modernio_4/21/5566/1425036.cw/content/index.html
Asset Allocation and Industry Sectors:
There are several economic concepts that affect an individual's daily finances and investments such as asset allocation and industry sectors. Asset allocation is primarily described as the manner with which an individual divides his assets among various asset categories like cash, bonds, stocks, and real estate. This fundamental principle also refers to an investment strategy with which an investor can lessen risks through diversification. One of the major goals of asset allocation is that it seeks to balance risk and reward through distributing a portfolio's assets based on a person's goals, investment horizon, and risk tolerance. Notably, the process of determining which combination of assets to retain in a portfolio is usually a very personal one ("Beginner's Guide to Asset Allocation," 2009).
The other common financial term or concept is industry sector where the two words have been used interchangeably to refer to a group…
"Beginners' Guide to Asset Allocation, Diversification, and Rebalancing." (2009, August 28).
Office of Investor Education and Advocacy. Retrieved from U.S. Securities and Exchange Commission website: http://www.sec.gov/investor/pubs/assetallocation.htm
Holden, J.P. (1983). Recent Developments Affecting Multiple Corporations: Sections 304, 306,
and 368. Retrieved from College of William & Mary Law School website: http://scholarship.law.wm.edu/cgi/viewcontent.cgi?article=1460&context=tax
The house would still be capable of customization but would not necessarily have to be. This could lead to more profitability to the builders and a less likely chance of sloppy workmanship. The home building industry has the opportunity to show that it can react to adversity and with the situation as it currently stands, builders may have the desire to lower expenses, while not cutting corners, as much as possible.
The home building industry, therefore, seems to be one that can provide the economy with a boost when it is needed, with a foundation at all times and with overall growth that can lead to a robust job market, growth in the GDP and financial independence for those builders that are willing to commit to the hard work necessary to succeed. There are relatively few industries that provide individuals with that type of opportunity and even fewer industries that…
Bogoslaw, D. (2007) Homebuilders in a Hole, Business Week Online, pg 15 Accessed Sept 24, 2007 at http://web.ebscohost.com/ehost/detail?vid=6&hid=2&sid=486e70e9-8320-4156-9bd0-750d6c9d32d0%40sessionmgr2
Fed's Calming Outlook Bucks up Stocks, (2007) USA Today, Money Section, pg 1B
Patterson, R. (2005) Home Sour Home, Mother Jones, Vol. 30, Issue 4, Accessed September 26, 2007 from Academic Search Premier
Stovall, S. (2004) Homebuilders: A Slump After the Jump, BusinessWeekOnline, Accessed Sept. 25, 2007 at
Online banking, the ability to conduct banking transactions on the Web, is revolutionizing the way that consumers bank. ehind this transformation is information technology. With its use, banks have been able to scale and secure transactions, provide the same and often more functionality than brick-and-mortar banks and evolve from mass marketing to one-to-one marketing.
The popularity of online banking is soaring with more than fifty million adults banking online in the United States as of November, 2004, an increase of forty-seven percent during the past two years (Sullivan, 2005). It is the fastest-growing Internet activity. Home broadband connections are credited with driving consumer adoption. Those with broadband access are about twice as likely to have tried online banking as users with dial-up connections because broadband encourages users to do more activities online. Demographic characteristics of those more likely to have broadband access include consumers between the ages of…
Fields, J.(2001, September). CRM and financial Services: like money in the bank. CRM Magazine. Retrieved February 14, 2005 from Web site: http://www.destinationcrm.com/articles/default.asp?ArticleID=1043
Hoffman, K.E.(2003, March/April). Beyond the firewalls. BAI Banking Strategies. Retrieved February 14, 2005 from Web site: http://www.bai.org/bankingstrategies/2003-mar-apr/beyond/print.asp
Katz, I. (2005, February 5). Online banking victim files suit; $90,000 lifted from account traced to Latvia. Sun-Sentinel. Retrieved February 14, 2005 from Web site: http://www.sun-sentinel.com/news/local/southflorida/sfl-zlopez05feb05,0,7861225.story?coll=sfla-home-headlines
Miranda, A.L. (2002, June 21). Information technology in financial services. Retrieved February 14, 2005 from Web site: http://strategis.ic.gc.ca/epic/internet/inimr-ri.nsf/fr/gr111851f.html
Pacific Coast Banking School
The Premier National Graduate School of Banking™
Credit Risk Management Extension Assignment Grade Sheet
Group a: Due February 23, 2012
FOR GRADER USE ONLY:
Graded by Christine Corso for John Barrickman
CREDIT RISK Management
2011 Session Instructor:
Group A: Due February 23, 2012
Add a brief biographical paragraph about your background
Certificate of Originality
"I certify that this paper represents and contains my own work. I have placed all quotations from other sources in a form to indicate that they did not originate with me and I have cited the work from which the material was taken. I have included footnotes for all information and ideas that I have taken from other sources. I have not shared and will not share my completed work with any other PCBS student nor have I read the completed work of any other…
Altman, E. (2008). MANAGING CREDIT RISK: THE CHALLENGE FOR THE NEW MILLENNIUM. Retrieved from Stern School of Business: http://pages.stern.nyu.edu/~ealtman/2-%20CopManagingCreditRisk.pdf
Bedell. (2009, September). TCM Guide: Holistic Risk Management. Retrieved from Global Finance: http://www.gfmag.com/archives/104-september-2009/2372-tcm-guide-holistic-risk-management.html#axzz1sMx8vpCj
Coen, W. (1999, July). Principles for the Management of Credit Risk - consultative document. Retrieved from Bank for International Settlements: http://www.bis.org/publ/bcbs54.htm
LaCapra, L. (2012, April 17). UPDATE 5-Goldman dials back risk, profit falls. Retrieved from Reuters: http://www.reuters.com/article/2012/04/17/goldman-idUSL2E8FH5XC20120417
Significance of the Study
This study is significant because it sheds light on a very important contributor to local and international trade. Trade fairs have a long history in providing a meeting place for buyers and sellers. They are an important channel of communication for B2B buyers and sellers. This is a significant area for study because there are limited channels of communication between B2B buyers and sellers. The previous sections have diversified the importance of communication to trade. B2B buyers and sellers cannot use mass channels of communication such as television advertising or newspaper advertising. In this market usage of personal visits and demonstrations are the common channels of marketing and communication. The B2B selling and marketing activities are less highlighted in research than B2C activities. Therefore, this study is significant because it explores a very important channel of marketing and communication in the B2B market.
The study is…
UFI.(2009). The Trade Fair Industry in Asia, 5th edition: A UFI report researched and compiled by Business Strategies Group Executive Summary -- for UFI members only." Business Strategies Group Ltd. [online] Available at http://www.ufi.org/media/membersarea/studies_reports/2009_bsg_report_summary_andorder_form.pdf [Accessed 10 May, 2012].
Viardot, E. (2004). Successful Marketing Strategy for High-Tech Firms. Volume 5. NY: Artech House
Yeshin, T. (2006). Sales Promotion. NY:Cengage Learning
Black Rock Industries
History of the Firm
BlackRock, Inc., the world's largest financial asset and management company, began in a one-room office in New York in 1988. BlackRock, which began under the name of BlackStone Financial Management, was led by Larry Fink and a team of seven others: Keith Anderson, Benett . Golub, Charles Hallac, Robert S. Kapito, Barbara Novick, Ralph Schlosstein, and Susan agner. All were unified by their desire to educate clients; not simply push them into purchasing products they neither needed or understood (Ody 63).
By helping General Electric in 1999 to rid itself of unwanted mortgages BlackRock's presence on all Street was solidified. By 2004 the company had grown to $342 billion in assets by selling its products. In 2005 BlackRock purchased State Street Research & Management, followed by an acquisition of Merrill Lynch Investment Management in 2006, Quellos Group in 2007 and R3 Capital Partners…
BlackRock. (2011). http://www2.blackrock.com/global/home/index.htm
BlackRock Investor Relations. http://www2.blackrock.com/global/home/InvestorRelations/index.htm
Kephart, Jason. "BlackRock Liquidating Four Funds." Fund Action (2011): 37. Business Source Complete. EBSCO. Web. 16 Apr. 2011.
Ody, Elizabeth. "GREAT DAYS AT BLACKROCK." Kiplinger's Personal Finance 64.9 (2010): 36-39. Business Source Complete. EBSCO. Web. 16 Apr. 2011.
CDN Honey Industry
The Canadian honey industry is widely fragmented and largely undifferentiated. There are approximately 7000 beekeepers and 600,000 colonies in Canada, according to the Canadian Honey Council (2010). Canadian honey is widely exported, to over 30 countries. Annual production is around 28,000 tonnes of honey, of which 16,000 is exported, the export value being $37 million. In recent years, honey production has slipped, but the reputation of Canadian honey abroad remains high (Agriculture Canada, 2008).
This paper will examine the Canadian honey industry, providing not only an overview of the industry and its trends, but also an examination of the industry's key success factors. A complete competitive analysis will be provided, including a Five Forces Analysis and a Value Chain Analysis. There will also be a key success factor (KSF) analysis included in this essay. The paper is intended as an overview of the industry and therefore will…
Agriculture Canada (2008). Canada's honey industry. Agriculture and Agri-Food Canada. Retrieved November 29, 2010 from http://www.ats.agr.gc.ca/supply/3308_e.htm
Canadian Honey Council. (2009). Production and value of honey and maple products. Canadian Honey Council. Retrieved November 29, 2010 from http://www.honeycouncil.ca/documents/Honey%20and%20maple%20production%202009.pdf
Canadian Honey Council website, various pages. (2010). Retrieved November 29, 2010 from http://www.honeycouncil.ca/index.php/honey_industry
QuickMBA. (2010). Porter's five forces. QuickMBA.com. Retrieved November 29, 2010 from http://www.quickmba.com/strategy/porter.shtml
2007, potato chip industry Northwest competitively structured long-run competitive equilibrium; firms earning a normal rate return competing a monopolistically competitive market structure.
The competitive business environment of today forces economic agents across the globe to develop and implement a wide array of strategies by which to respond to the challenges of the various stakeholder categories, such as competitors, business partners, employees, customers, the governmental and non-governmental institutions and so on. One particular means by which the companies address these new challenges is that of uniting their forces in order to combine their resources, market shares and capitals and as such become more profitable. Particularly, the economic agents engage in mergers and acquisitions as a means of consolidating leading positions within the market places.
Such a situation was observed within the potato chip industry in Northwest. Up until 2007, the industry was characterized by the presence of…
Mankiw, N.G., Taylor, M.P. (2006). Economics. Cengage Learning EMEA.
Pettinger, T. (2008). Benefits of monopoly power. Economics Help. http://www.economicshelp.org/blog/365/monopoly/benefits-of-monopoly-power / accessed on February 1, 2013
Speegle, M. (2009). Quality concepts for the process industry. Cengage Learning.
(2012). Why is competition policy important for consumers? Website of the European Commission. http://ec.europa.eu/competition/consumers/why_en.html accessed on February 1, 2013
Trends in the meeting/convention industry
There are a number of trends in the meeting/convention industry. The industry struggled with respect to demand during the recession from 2008 onwards. hile there are some signs of recovery, the growth in the industry remains sluggish (Chen, 2012). This slow recovery is a problem, given that in 2008 at the beginning of the recession, there was a high likelihood that the industry was already suffering from overcapacity (Detlefsen & Vetter, 2008).
The rapid growth in the number of convention centers in the United States in particular has resulted in overcapacity, and this has increased the intensity of competition in the business (Davidson, 2008). The competition is necessary, because convention capacity is a perishable good -- a day of sitting empty is revenue that is lost forever, and fixed costs are still being incurred. This drives a high level of price competition in particular,…
Braley, S. (2012). Top 10 meeting trends. Meetings & Conventions. Retrieved May 14, 2013 from http://www.meetings-conventions.com/articles/top-10-meeting-trends/c46562.aspx
Chen, T. (2012). Convention industry is on slow road to recovery. AZ Central. Retrieved May 14, 2013 from http://www.azcentral.com/business/articles/2012/04/05/20120405phoenix-convention-industry-slow-road-recovery.html?nclick_check=1
Davidson, R. (2008). Conference trends. ICCA. Retrieved May 14, 2013 from http://www.iccaworld.com/cnt/docs/RobDavidson_IndustryTrends.pdf
Detlefsen, H. & Vetter, N. (2008). Convention centers: Is the industry overbuilt? HVS. Retrieved May 14, 2013 from http://www.hvs.com/Content/2504.pdf
Potato Chip Industry
Given that the new company is now run as a monopoly, how will this benefit the stakeholders involved, such as the government, businesses, and consumers?
The conventional economic case in opposition to a monopoly is that, since the cost structure is the same, a monopolistic business will manufacture goods at a decreased output in order to charge higher prices. The opposite is true in the case of a competitive industry. In a monopolistic market, not only do consumers suffer but also governmental efficiency is questioned (as a result of lower spending and tax rates) (Krugman and Obstfeld, 2008).
Another view of Monopolistic markets is that, manufacturers mostly take advantage of the economies as they produce and supply products and services on large scales which results in the fall of average total cost of the production. However, this fall in average cost ultimately increases the monopoly profits. Consumers…
Basak, S., & Pavlova, A. (2004). Monopoly power and the firm's valuation: A dynamic analysis of short vs. long-term policies. Economic Theory.
Case, K., Fair, R., & Oster, S.M. (2009). Principles of microeconomics. Upper Saddle River, NJ: Prentice Hall.
Krugman, P. And Obstfeld, M. (2008). International Economics: Theory and Policy. Addison-Wesley.
Maurya, M. (2008). Modern microeconomics: Theory and application. Delhi, IND: Mangalam Publishers.
FINRA believes, however, in going beyond regulation. A stated mandate of FINRA is to improve investor education, because FINRA believes that "investor protection begins with education" (FINRA website, 2010). FINRA has set up an Investor Education Foundation, which in 2009 spend $46 million on improving investor education about the markets.
FINRA believes that the markets should be fair for all participants. The body feels that this will ensure investors have as many choices as possible for their money. In addition, FINRA believes in taking a proactive approach to regulatory issues, because this will enhance its mission of consumer protection (Ibid).
FINRA was set up by the two major exchanges in part because of the need to ensure that the markets are fair and are regulated efficiently and effectively. Stock markets today compete globally for capital and FINRA is a natural response to the need of U.S. markets to gain competitive…
FINRA website, various pages. (2010). http://finra.complinet.com/
Hansard, S. (2008). Brokers, advisers blast FINRA proposal. Investment News. Retrieved April 10, 2010 from http://www.investmentnews.com/article/20080630/REG/96327665
Contributions of Mohamed Talaat Pasha Harb to Egypt’s National Development and Banking System
Born on 25th November, 1867 in Cairo’s El- Gammalia, Mohamed Talaat Pasha Harb is considered one among the greatest personalities who contributed to Egypt’s overall national growth and development. He studied art, science, economics, literature, and French. After acquiring a law degree, he commenced his career in the role of translator in the Royal Circuits’ Lawsuits Section, responsible for state- owned farmland. Though favoring free enterprise, he was quick to climb the rungs of the career ladder, landing the position of lawsuits section manager (53-75)3.
His subsequent posts as manager were at various organizations including Kom Ombo Company (a firm that actively reclaimed and sold land) and the Egyptian Real- Estate Company (where he ensured citizens of Egypt held most of the shares). He penned numerous books, including “The Economic Remedy of Egypt and Creating the…
Competitiveness of Sustenance Lithographic Printing Industry with the Digital Printing Industry: A Case Study of the Lithographic Printing Industry in Nigeria
Major Constraints Affecting the Lithographic Printing Industry
The Effect of the Total Quality Management System on Lithographic
Industry and Compliance with a Changing World
Comparison of Lithographic Printing and Digital Printing to Develop
Avenues to Increase the Sale of Lithography
Stakeholder Opinions of the Proficiency of the Lithographic Printing
Although facing obsolescence from innovations in digital printing technologies, the lithographic industry is faced with several constraints to its competitiveness that form the focus of this study. The overarching aim of this study is to investigate and explore the future of the lithographic printing industry and develop ways on how lithographic printing can be sustained in the changing world of emerging technologies in the printing industry today. In support of this main aim, the study's objectives were to: provide…
Avery, C and Zabel, D 1997, The Quality Management Sourcebook: An International Guide to Materials and Resources. London: Routledge.
Beaujon, J 1936, Graphic Arts. Garden City, NJ: Garden City Publishing.
Cohen, P 2007, 'Deming's Fourteen Points,' Deming Articles. [online]. available: http://www.
It is likely that the retrieved results will indicate a cost of not hedging significantly larger than that of hedging.
Dozier Industries has a long standing tradition and a favourable reputation. The company worked mainly with the military, but also came to engage in civilian contracts. Having operated mostly nationwide, the UK-based company is now presented with the opportunity of conducting international activities. This however implies both benefits, as well as limitations.
A relevant limitation is given by the risks implied by the exchange rates, namely by their future and unknown fluctuations. This is the main reason why organizations choose to sign hedging contracts. The most common hedging alternatives are the forward, futures and option contracts. The option contracts are the most flexible ones, but they do present an additional risk for the seller, ergo employing the premium.
Despite the advances in the financial market, there still are…
Giddy, I.H., the Corporate Hedging Process, New York University, Stern School of Business, http://pages.stern.nyu.edu/~igiddy/corphdg.html . Ast accessed on January 29, 2009
Meera, a.K.M., 2002, Hedging Foreign Exchange Risk with Forwards, Futures, Options and the Gold Dinar: A Comparison Note, Department of Business Administration, Retrieved at http://lariba.com/knowledge-center/articles/pdf/Malaysia%20-%20GOLD%20-%20Hedging%20With%20Dinar.pdfon January 29, 2009
2009, Hedge, Investopedia, http://www.investopedia.com/terms/h/hedge.asplast accessed on January 28, 2009
1986, Dozier Industries, Stanford University
Asset- Liability Management (banking)
The business system that enables a company to collect, maintain and manage a complete list of all the components possessed by the company is known as asset management. The main objective of the asset management is to enable the company to manage the financial facets of the ownership, estimation of the costs of ownership, record of items on hand, spare parts, replacements, depreciations, maintenance and insurance. (Asset management: www.infobeagle.com) The concept of asset-liability management has different meaning in different fields. Normally the banks and insurance companies employ accrual accounting for practically all their assets and liabilities. They are required to take on the liabilities and to invest on the assets and by so doing the reorganize the assets and liabilities from the hidden potential risks involved. (Asset Liability Management: Contingency Analysis) The objective of the Asset Liability Management Resources is to entail analysis, instruction and guidance…
improve or inder te effectiveness of non-workplace-Based training programs for te American pawnbroker industry?
Overview of te Industry:
In te United States, tere are two main functions of a pawnbroker. Te first is making small loans, secured by personal property. Te second function is te sale of mercandise.
According to te Florida Pawnbrokers Association, loans are te ig profit center for pawnsops. "Te retail side also generates an average of 27% of te sops revenue. Te Association stated, "In 1996, te nation's 9,100 pawnsops generated $4 billion in revenue."
Pawnbrokers are regulated in te United States mostly at eiter te state or local area. Wile tere is no uniformity among te regulations, laws, or ordinances, it seems most are issued licenses, required to make reports to law enforcement, and obviously proibited from trafficking in stolen mercandise.
Te amount te pawnbroker is permitted to carge as fees and interest vary, but…
Various statistics, U.S. Department of Labor and Industry, available at http://www.dol.gov/ .; Accessed March 25, 2003.
U.S. Department of Labor ID Code is: 191.157-010