Business and Financial News

The US economy seems to have recovered from the brink of a collapse. Treasury secretary Timothy Geithner shared his views on the US economy at the G20 conference. Geithner believes that all of the countries in the G20 need to work together to ensure that the economy does not fall into another tailspin.

“The scars of this crisis are still with us,” Geithner told reporters. “If the world economy is to expand at its potential, if growth is going to be sustainable in the future, then we need to act together to strengthen the recovery and finish the job of repairing the damage of the crisis.”

“What we want to do is continue to emphasize that we are going to avoid that mistake,” he said.

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The question comes up all the time: “What should I look for when hiring my first (or my next) sales person?”

The next question is usually, “How should I compensate that person?”  (Entire books have been written on these two questions.)

However, before getting to those questions, a business owner must first answer this question.

“Why would a successful sales person want to come sell for my company?”

More specifically, answer these questions:

• Am I a good leader?  Is my company run well and do I inspire confidence?
• Are our products and services extremely competitive?
• Does the company have a strong brand in the market? D

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Debt-laden law firm Halliwells has filed for court permission to appoint an administrator and looks set to be broken up, it emerged today.

The firm, based in Spinningfields, Manchester, may undergo a pre-pack administration process if a buyer can be found for some of its assets.

Hill Dickinson is in talks to take over some of Halliwells’ operations with Barlow Lyde & Gilbert interested in its insurance practice.

Halliwells, which is said to owe around £20m to the Royal Bank of Scotland, is expected to be dissolved after a transfer of assets.

The filing for intention to appoint an administrator will give the firm time to negotiate with potential buyers.

Halliwells’ future has been the talk of Manchester’s legal scene for some time and it is thought Hill Dickinson is lining up a move into its Spinningfields premises.

Halliwells’ problems have been attributed to the high cost of its move to the new Manchester business district from its former home in St James’s Court, Brown Street, as well as the impact of the recession which has hit its property and corporate work.

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At the depth of the recession when there was a falling market for new cars, strikes were almost welcome in the US and EU. Most car companies had so much inventory that a break in factory production had some good side effects. That may be a reason why Ford (NYSE: F), GM, and Chrysler did so well in negotiations with the UAW two years ago.

It is a different matter today in China. The market is now the world’s largest for vehicle sales. Seventeen million cars and trucks will probably be sold in the People’s Republic this year, more sales than the US ever generated. That makes the labor strikes, which have begun once again at Honda (NYSE: HMC) and Toyota (NYSE: TM), all the more costly.The two Japanese car companies said they had stopped production at their plants in southern China. Loc

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National construction giant John Holland has won a state government contract to design and build $92.3 million in education and health projects in the East Kimberley.

“The State Government has met a major milestone with the awarding of this contract, which will see health and education services transformed in the East Kimberley,” said Regional Development Minister Brendon Grylls.

“The contract includes a $48.5million upgrade to the Kununurra Education Precinct; a $9million upgrade to the Kununurra TAFE complex; and more than $32million in health infrastructure development.

“These projects will deliver tangible benefits to East Kimberley and help create stronger, more vibrant and sustainable local communities into the future.”

Under a national partnership agreement, the State and Federal governments are addressing social inclusion and indigenous disadvantage in the region.

As part of the contract, John Holland will be required to work with local businesses and the indigenous community to develop an Indigenous Participation Plan.

“This project overall has a strong focus on achieving indigenous outcomes,” the Minister said.

“The contractor was chosen having demonstrated success in achieving indigenous outcomes through construction projects and will ensure indigenous participation in the projects.

“By engaging the local community, the project will help ensure greater indigenous employment outcomes and the development of services will go a long way in helping close the gap between indigenous and non-indigenous people in the region.”