Dealing With The Credit Crunch: 4 Things Every Practice Owner MUST Do Today
Read this now if you are holding short-term loans to finance equipment or real estate purchases.
As I write this article on the morning of October 29, 2008, the U.S. financial markets are in a well-documented crisis.
Real estate prices have dropped, leading to increased mortgage foreclosures. The Fed has taken over Freddie Mac and Fannie Mae.
The recent bailout of IndyMac Bank in Pasadena, California, represents the second largest bank failure in US history. Wachovia, at one time the nation’s fourth largest bank, just got taken over by Citigroup. Many other banks are having severe liquidity problems.
The Dow Jones Averages were down 40 % from just one year ago and the S&P is down by 41% over the same time. And, Congress has just finalized a questionable bailout program for Wall Street.
This is a not a doom and gloom article
Yes, there is plenty of scary news out there. But if you
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With the questionable state
With the questionable state of the economy, I was wondering if there is
any feedback on staff year end/Christmas Bonuses. I have previously
based bonuses on a “profit sharing approach”( not a true profit
sharing), the better the business the better the bonus. While the
numbers for this year have been consistent with last year, increased
overhead and projected business environement are weighing on my mind. I
know many businesses have cut or eliminated bonuses for this year.
I want to read the other
I want to read the other articles listed under categories.
We will posting 2-3 times per
We will posting 2-3 times per week with
new content on a variety of topics related to practice profitability
and overhead control.
All readers are invited to email me at jerry@drhayesblog.com with comments or suggestions for new topics. Jerry Hayes, OD