Pete Peterson may not be the most well-known businessman or economist in America. His name doesn’t float among the luminaries of the billionaire philanthropist set like Warren Buffett, Bill Gates, and George Soros. But Peterson is both a billionaire and a philanthropist. The story of how he came to be among the wealthiest individuals in the world is interesting and encouraging. Peterson was born into a family of Greek immigrants who made their living running a diner in Nebraska, of all places. From those relatively humble beginnings, he went on to a string of successful leadership roles in businesses including Market...

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In my reckless youth, I learned many valuable lessons.  One of them was on the value of the Halo Effect.  I like to call this phenomenon the Law of the First Round. First, I will explain the Halo Effect and then tell you my law.  The Halo Effect is when you make a great first impression and that is the image that another retains of you.  For instance, I had a boss who met me right after I won a big award.  In his eyes, I could no wrong.  Serendipitously, I made a great first impression that lasted. When you bust your...

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Last week I wrote a column here questioning how much of the downturn in the economy was psychological. Ironically enough, just hours after I submitted my article, I received a memo explaining how my company can no longer afford our health care plan. Starting next year, my premiums will nearly double AND my coverage will decrease. Gas is creeping back up to $2.50. The price of many grocery items is up in the range of one and a half to two times what it was just a few years back.  Homeowners insurance premiums (at least here...

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As kids, we all hold the basketball and prepare to shoot with the score tied.  We pretend the championship game is on the line with only seconds left.  Our shot is going to be the last one before the buzzer.   3-2-1 SCORE! Hitting the last second bucket, scoring the Hail Mary touchdown, or even netting the game winning goal is a feeling we all want.  Most of us will never be professional athletes or be under the lights and cameras as the timer is expiring.  However, we face these types of situations every day of our lives.  We are all put...

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This whole economic downturn –could it really be all in our collective head?  Consider a salaried worker, maybe a mid-level manager at an insurance company (but not THAT insurance company).  He’s on salary.  Good economy or bad, he’s making the same money.  His expense account may have tightened up and his raises have gone from generous to stingy, but he’s still making more than he did last year.  Now that gas prices are back down to a semi-reasonable level, what has he really lost?  And yet the whole wide world of mid-level salaried employees is in a tizzy because the...

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