Tina Fey Voted AP Entertainer of the Year

Tina Fey has been voted The Associated Press’ Entertainer of the Year, an annual honor chosen by newspaper editors and broadcast producers across America for the performer with the greatest impact on culture and entertainment.

From “30 Rock” to “Baby Mama” to “Sarah Palin”, the 38-year-old comedian capped a glorious year in 2008 by besting runner-up Robert Downey Jr. (blockbuster smash “Iron Man”), and the third-place Heath Ledger, who posthumously wowed audiences as the Joker in “The Dark Knight.”

Fey’s masterstroke was her indelible impression of Gov. Sarah Palin on “Saturday Night Live.” Her cameos on her old show (where she had been a head writer until 2006) helped drive the show to record ratings and eventually drew an appearance from Sarah Palin herself.

Only In Bad Times Do We Know Who Is Swimming Naked

Financial course fees for investors are getting ridiculously expensive. In the Lehman Brothers debacle, some investors parted with their life savings to learn complex financial terms, like collaterized debt obligations, derivatives, credit default swaps, first to default, credit linked notes, etc.

Read the full article here.

Obama Picks Steven Chu As Energy Sec

Steven Chu has been picked by U.S. President-Elect Barack Obama for Energy Secretary. Barack Obama is adding another experienced member to his growing roster of competent officials. 

Chu was appointed as the director of the Lawrence Berkeley National Laboratory in 2004 and he was only 49 when he shared the 1997 Nobel Prize in Physics for codeveloping ways to cool and trap atoms using lasers.

The Nobel winning phsyicist has long spoke out about the need to combat climate change. Here are some of Chu’s past statements on energy issues.

Steven Chu will be the man to push for the development of alternative energy. In this 2005 interview with UC Berkeley, he spoke about the possibilites of biofuel and nuclear power. The Nobel Laurette is also expected to reform existing regulatory standards which are enforced by the Department of Energy.

Now, espousing theories is one thing… changing mindsets, justifying costs and benefits, formulating theories into clear policies, are easier said than done, so I expect this Energy Secretary appointment to be among the toughest job in Obama’s administration.

In an imminent energy crisis where extracting fossil fuels becoming increasingly challenging while demand continue to spike, the policies set forth will have far reaching implications for global economies, businesses and individuals.

Haven Trust Bank Close Shop

State regulators closed Haven Trust Bank of Duluth, Ga., and Branch Banking & Trust agreed to assume all the failed bank’s deposits.

Haven Trust, which had $572 million in assets, is the 20th bank to fail this year amid the financial crisis.

BBT of Winston-Salem, N.C., entered into an agreement with the Federal Deposit Insurance Corp. to assume all of Haven Trust’s $515 million in deposits for $112,000.

BB&T also agreed to buy $55 million of Haven Trust’s assets. The FDIC will take control of the rest.

The failed bank’s four branches will reopen as BB&T branches Monday.

Source: Wall Street Journal

Yet another bank bites the dust.  The last bank to be closed in the state was First Georgia Community Bank, Jackson, GA, on December 5, 2008.

Of the 8,500 federally insured banks and thrifts, the FDIC had 117 on its internal list of troubled institutions as of June 30, a five-year high. The agency doesn’t disclose the banks’ names.

Well over half of these 8500 8,500 banks and savings and loans are expected to tap the FDIC’s temporary guarantees to prevent a flight of deposits.

Back in September, I saw only 11 bank failures but the number has doubled in the space of a few months. I am sure there will be more casualties to come in 2009.

This consolidation is a necessary path to embark. Weeding out weak and mismanged players will result in a healthier banking sector.

Treasury Bills Developing Characteristics Of A Bubble

This fancy for Treasury bills is no longer a flight to quality. It is an exodus away from all asset classes, followed by a musical chairs version of quality. 

If investors were to regain their risk appetite and start buying riskier assets in the U.S. such as stocks, corporate bonds, and real estate, then the effect (decline in face value and the US dollar) could be spectacular.

Read the full article here.

Tips To Be A More Likable Employee

During Singapore’s last recession in 2001-2002, the Government and union leaders push through several proposals to help companies and employees. One of the key proposals was the implementation of the “monthly variable component” (MVC) and the “annual variable component” (AVC).

This was basically a flexible salary arrangement that employers could build into their wage systems during good times, and which could be adjusted during unexpected business downturns.

The concept is good as companies will first cut workers’ salaries by up to 10 to 30 per cent to cut costs, instead of taking the more painful step of retrenching staff.

In this global recession of 2008, companies are aiming to cut cost to survive and while MVC/AVC are again emphasized as a measure of first resort, downsizing is still inevitable for many businesses.

Becoming a more likable employee may save you from the axe. Here are some tips which were recommended by Salary.com.

1. Know Your Role

A great place to start is a detailed list of job duties or, if it is available, an official job description, from your manager or human resources department.

2. Be “Engaged” in the Process

Be an active participant in establishing your goals from the start. Focus on key objectives and define a plan that makes sense for you and your employer.

3. Set Goals that are Reasonable and Relevant

When establishing goals, make sure they are meaningful.

4. View goals as a project plan

Make your goals your mission for the year. Keep goals current, track progress and contributions, and update goals as appropriate to reflect any changes in your role or responsibilities.

5. Document your accomplishments

Document your accomplishments along the way and let your boss know when you have reached established milestones. If you reach a stumbling block along the way, seek advice on how to best resolve the issue.

6. Show an interest in additional training

Your employer will see that you want to improve the quality of your work and are interested in professional growth.

7. Check-in

Have an open dialogue with your boss throughout the year so you have a better sense of where you stand and how your progress is being perceived.

8. Share positive feedback

Feedback from colleagues and/or customers is also valuable when you are preparing for a review.

9. Demonstrate a Positive Attitude

Try to be “likeable” in a business sense by being pleasant, respectful and courteous to colleagues.

10. Utilize Performance Review Feedback

When you get constructive feedback during a performance review, listen to it carefully and objectively.

Will The Automotive Deadlock Be Broken Next Week?

Over $7 trillion dollars have been made available by the US government to rescue the financial sector and the economy. That’s about $23,000 for every American, and more than half of US GDP. However, not much has been allocated to the beleaguered auto industry and Detroit’s Big Three yearns for a larger piece of the pie to save their hides.

Read the full article here.

O.J. Simpson Sentenced to 9 Years for Hotel Robbery

O.J. Simpson, 61, was sentenced Friday to up to 33 years in prison for robbing a pair of memorabilia dealers. Most of the 10 counts Simpson was convicted of, including attempted armed kidnapping, would run concurrently. He will be eligible for parole in nine years.

Simpson was convicted along with five others of robbing Bruce Fromong and Alfred Beardsley at the Palace Station hotel casino in Las Vegas in September 2007. Prosecutors said Simpson took items including footballs with his autograph.

This former professional football and Hall-of-Famer was acquitted 13 years ago of murdering his ex-wife and her friend. Simpson was later found liable for the deaths in a 1997 civil lawsuit and ordered to pay damages totaling $33.5 million to the victims’ families.

Simpson dispersed property to friends in an effort to avoid its confiscation to satisfy the damages award, prosecutors told the jury at the start of the robbery trial.

“You didn’t want all of those items to fall into the hands of the Goldmans,” Nevada State Judge Jackie Glass said before sentencing Simpson. “You were heard on the tape making reference to them as the gold- diggers.”

In his defense, Simpson said: “I wasn’t there to hurt anybody. I didn’t want to steal anything from anybody. I didn’t want anybody else’s stuff — just my own stuff. I’m sorry.”

Apparently he was trying to “recover family heirlooms — including his slain ex-wife’s wedding ring — to pass down to his children.”

Simpson will remain in custody while he appeals. Speculation is rife that this is payback for “crimes” he commited in the past. There are strong opinions to Simpson’s sentencing. What do you guys think?

How To Measure Odds of Divorce?

Divorce rates are on the rise. If your marriage is on the rocks and you are worried about joining the statistics, why not measure your odds of divorce using this divorce calculator?

You can find it on divorce360.com. Designed by American economist Betsey Stevenson, this divorce calculator may lend credence to signing a prenup by showing you the likelihood of divorce.

Just fill in your gender, whether you have children (for female respondents), education, age and how many years you were married.

The calculator then reveals the percentage of people with similar backgrounds who are already divorced and the likelihood you will be hunting around again within five years.

It seems like the older you are, more years of marriage  and being more educated lower the chances of getting divorced.

However, if you’re a female high school dropout with no children and has been married for one year and tied the knot before your 18th birthday, you should probably keep a divorce lawyer on standby.

Don’t ask me if this device is accurate though. In any case, it should be used only as a guide and don’t dispel plans of getting married just because the odds of divorce is high.