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Monthly Archives: July 2008

FDIC Oops No. 2: Subprime loans made under agency’s watch

July 21, 200811:35 a.m.

No sooner had I blogged about the Federal Deposit Insurance Corp.’s delayed public response to the IndyMac failure when I ran across what may be a costly blunder for the federal regulator.

It seems that when it took over an Illinois-based thrift seven years ago, the thrift continued to make subprime mortgage loans.

Ouch.

The blunder was revealed today in a Wall Street Journal story about a Texas-bank that is suing the FDIC for selling it a portfolio of loans that the bank alleges had some of those problem loans.

This is not a good start to the week at the FDIC.

By Jerry Siebenmark | Filed under Banking | Comments Off |

Stressed-out employees = lost productivity

July 21, 200810:59 a.m.

Stressed employees are 4.4 percent less productive at work — versus 0.7 percent for those reporting “no stress” in the past year, according to a survey by Gordian Health Solutions.

Gordian also recently released a list of 10 common signs that employees are stressed out to help employers become aware of the problem, fleshed out by Marc Onigman on the Corporate Fitness & Wellness Today blog.

Notes Onigman:

Workplace stress is nothing new, thatʼs for sure. But with a struggling economy and the ever-increasing need to do more in less time, employees are feeling the pressure even more these days. And, realizing that thereʼs a big difference in the quality of work produced by stressed-out workers, compared with those who are simply challenged by their work (in a good way), employers are taking note of workplace stress levels.

How does your work place handle employee stress?

By Andi Atwater | Filed under Health care | Comments Off |

FDIC tries to take heat off its handling of IndyMac failure

July 21, 200810:58 a.m.

The Federal Deposit Insurance Corp. posted on Friday two new items on its Web site, one a link to help depositors of any failed bank after July 1, 2008 determine how much of their money is covered in case of a bank failure and the other directly aimed at IndyMac Bank customers, some of whom made a run on the bank last week that was reminiscent of the bank runs in the 1930s.

Of course this feature that it has unveiled to IndyMac customers comes a full week after the Office of Thrift Supervision shut down IndyMac and appointed the FDIC the conservator of the failed California-based thrift.

The FDIC has taken some heat for its handling of the failure of IndyMac. Maybe that’s because it took it a week to post this handy information.

By Jerry Siebenmark | Filed under Banking | Comments Off |

A little venting on mortgage brokers

July 21, 200810:02 a.m.

My first inclination was to fold this one into the previous blog item, but it’s too interesting to bury.

Real Trends reports that a real estate agent named Lisa LaShawn is a little annoyed with mortgage brokers and their role in the sub-prime crisis, so much so that she’s founded this Web site with a less-than-subtle name and an even less subtle message.

I wonder if anyone’s purchased the domain name “ihateoilspeculators.com?”

By Bill Wilson | Filed under Real estate | Comments Off |

Keller Williams goes commercial; Is the housing market stabilizing?

July 21, 20089:52 a.m.

The number of big residential real estate brokers delving into the commercial side grew a little over the weekend with the Keller Williams announcement.

And there’s an interesting contradiction on the future of the housing market, courtesy of Real Trends, the Colorado-based analyst: Home builder confidence has sunk to 16 on a 100 scale, according to the National Association of Home Builders, with a housing stimulus package needed from Congress to stem the tide.

However, a survey by the Leading Real Estate Companies of the World shows that 59 percent of its brokers are seeing increased activity in their markets.

By Bill Wilson | Filed under Real estate | Comments Off |

U.S. health system falls short on performance

July 18, 20083:19 p.m.

The U.S. health system is on the wrong track, say researchers monitoring our national health system performance.

Quality of care is highly variable, and opportunities are routinely missed to prevent disease, disability, hospitalization, and mortality, according to the National Scorecard on U.S. Health System Performance 2008 by The Commonwealth Fund.

In fact, across 37 indicators of performance, the U.S. achieves an overall score of 65 out of a possible 100, researchers said.

Despite the bleak news, the study suggests much can be done to turn things around:

The 2008 National Scorecard documents the human and economic costs of failing to address the problems in our health system. Recent analysis suggests it could be possible to insure everyone and achieve significant savings with improved value over the next decade. Health care expenditures are projected to double to $4 trillion, or 20 percent of national income, over the next decade, and millions more U.S. residents are on a path to becoming uninsured or underinsured, absent new policies. We need to change directions, starting with the recognition that access to care, health care quality, and efficiency are interrelated.

As many physicians and health care administrators here in Wichita already know, change isn’t easy and will require a collaborative effort among every stakeholder.

Suggestions on where to start?

By Andi Atwater | Filed under Health care | Comments Off |

Heart Association benefit: You go, gals

July 18, 20083:18 p.m.

There was quite the collection of women at the Go Red for Women luncheon at the Hilton Wichita Airport today. It was a sea of businesswomen, community leaders and gal pals, almost all of whom had at least some red on.

A couple of observations: Emcee Cindy Klose from Channel 12 is such a polished, calming presence. I’m automatically just a bit less stressed when I see her. And the Eagle’s own Bonnie Bing, who emceed the fashion show portion of the event, has such a funny, self-deprecating style. I never tire of listening to her. I think she should teach Dale Carnegie courses on the side.

Finally, aviation writer Molly McMillin and I were momentarily disappointed to see that the purse we donated (a travel bag reminiscent of the TWA bags from the ’60s) for the “Purse-inality” auction seemed to be bringing in less money than the others. I mean, there were bags going for about $1,000! But, thanks to Jill Taylor and the matching donation from her employer, U.S. Trust (the private wealth management division of Bank of America), we came in at a not-too-shabby $180. Go, Jill!

By Carrie Rengers | Filed under Uncategorized | Comments Off |

Liar, liar, throat’s on fire

July 16, 20084:41 p.m.

OK, so I lied. Not even two hours after hearing Fran Jabara’s inspiring speech and declaring I was going to try to be a better American, I bought a bottle of water.

But I was hot. And stressed. And frantic for quick relief.

Sorry, Fran. Sorry, America. I’ll try and do better.

By Carrie Rengers | Filed under Uncategorized | Comments (6) |

Analyst on Boeing and Airbus orders: “Thank God for the Asians and the Middle Easterners”

July 16, 20083:31 p.m.

Airbus has outpaced Boeing in orders announced this week at the Farnborough Air Show outside London. Airbus announced a $7.2 billion order Wednesday from South Korea’s Asiana Airlines.

Together Airbus and Boeing have amassed more than $50 billion in orders at the show, which opened Monday. Middle Eastern and Asian carriers and leasing companies make up for slackening demand from U.S. and European airlines, who’ve been hurt by rising fuel prices.

FTN Midwest Research Securities Corp. analyst Michael Derchin told Bloomberg, that getting any orders is good in this environment.

“Thank God for the Asians and the Middle Easterners,” Derchin told Bloomberg.

By Molly McMillin | Filed under Aviation | Comments (1) |

Jabara’s advice: Don’t forget to shut off the lights

July 16, 20082:23 p.m.

I’m getting ready to go on vacation for a couple of weeks, and I’ll be staying at hotels the whole time. As much as I’m going to try to leave work at work, chances are I’ll be thinking of Fran Jabara on my trip.

Dan Loving and I went to hear Fran speak at a packed east-side Rotary meeting at the Wichita Country Club today. I’ve spoken with Fran a number of times over the phone through the years, but this is the first time I heard him address a group.

I was struck by his understated style and down-to-earth wisdom. Fran explained how, as the child of immigrants, he might view this country and our lifestyles differently.

“I really think America has to wake up and have a new set of priorities,” he said.

Though an optimist, Fran admitted he’s been feeling pessimistic about politics and America’s future as a world economic and military leader. “I really think, folks, that we have fallen asleep, and that’s not what made this country great.”

Saving — money, energy and ideas — is a big issue with Fran. He spoke about the wastefulness of daily Starbucks trips and bottled water purchases — but the entrepreneur in him admits he wouldn’t mind if he’d been involved early on in those businesses.

Fran says he’s tried to explain conservation to his grandchildren. They wonder why he always shuts off the light when he leaves a hotel room.

By the end of his speech, he had several of us convinced, I think. I will pack my own water for workouts. I will add money to my 401K. I will think big and not let negativity or anything else hold me back.

And yes, even though the hotels on my trip are sure to leave the light on for me, I’ll be sure to turn it off.

By Carrie Rengers | Filed under Uncategorized | Comments (1) |

A slowdown near the arena?

July 16, 200810:11 a.m.

It’s admittedly early, but development interest near the Intrust Bank Arena appears off to a slow start.

Tuesday’s announcement that the Spaghetti Works building near Douglas and St. Francis is for sale makes two significant multi-level buildings near the arena that need buyers. Union Station, the old Cox Communications headquarters on Douglas, has been on the market for several months, reportedly with limited interest from retailers.

On the surface, that’s surprising as the arena quickly takes shape nearby. But with the financial markets in crisis and disposable incomes dwindling to nothing, a slowdown in hospitality investments doesn’t seem all that shocking.

Plus, arena neighborhoods, I’m told, develop closer to the opening date. Hard to get a lot done, though, when the city and the downtown development group both need new leaders.

So, there’s no cause for alarm yet – but it does seem troubling that the future of two prime arena neighborhood properties is in such doubt.

By Bill Wilson | Filed under Development | Comments (9) |

WIBA: Grumpy old men, the Wichita version

July 15, 20082:56 p.m.

When Tim Witsman was considering whether to take the presidency of the Wichita Independent Business Association about this time last year, he consulted friends on what they thought.

That’s how he came to realize that WIBA had a bit of a reputation — deserved or not — for being an organization of grumpy old men.

And when he took the job last July, one of Witsman’s goals was to change that reputation. He thinks he has.
While munching on his favorite Cuban sandwich at Sabor today, Witsman talked about those changes. One of the most obvious is WIBA’s new Women’s Leadership Alliance, which started with about six members right before Witsman came on board and now has 75 who attended this month’s meeting.

There wasn’t a grumpy old man in sight.

By Carrie Rengers | Filed under Uncategorized | Comments (2) |

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