Just How Bad is the Economy?
by James A. Gage
The total consumer debt reached $2.46 Trillion as of June 2007. In 1929 only 2% of homes were mortgaged. Now it’s nearly 99% ! Every year we set a new record for the number of people who file for bankruptcy - currently it’s nearly one million people per year throwing their financial future down the drain. The average debt per American household with at least one credit card is $8,940. Foreclosures are at epidemic levels across the country, coupled with soaring food, oil and gas prices.
Now let’s talk about small to mid cap businesses. The numbers cited above can be doubled or tripled for the small business or mid sized corporation! USA Today stated in a recent article that 2 out of 3 businesses are under financial attack and facing closure without any end in the trend!
It has been my experience that most businesses feel their only way of escape is bankruptcy; can you now see how important the independent arbitration profession is in these uncertain times?
Imagine helping a business stay viable through your negotiating skills, and getting paid handsomely for it.
By now, it should be clear to you just how large this problem is. And it will only get worse because the people in trouble don’t know how to get out of financial peril. They don’t know that there is an easy way to put an end to their problem; that is hiring a Professional Independent Arbitrator.