What’s the cost of group think?

A trillion dollars

This past week Congress passed a $700 billion dollar “recovery” plan designed to renew confidence in the banking system and among bankers themselves.  Add that to previous bailouts and we’re rapidly approaching a trillion dollars.  My guess is that we’ll exceed that number.

I won’t go into a lengthy diatribe about how we got here.  Placing blame is always an expensive activity - one that slows the progress on fixing the problem.  From the news reports and analysis by various Washington journalists, it seems that the plan to make home ownership possible for a greater number of citizens (a worthy goal) began in the Clinton administration and has been perpetuated through the two Bush administrations.

Unfortunately, everyone thought this was a good idea and no one asked “What will happen if…?  The executive branch didn’t ask, nor did Congress, the Federal Reserve Board, SEC or any number of other regulatory agencies.  There was a complete failure in the system of checks and balances that should have prevented this debacle.

The question is “Will Congress, once again, trust the executive branch and these regulatory bodies to implement this recovery plan well or will they set parameters to protect the American taxpayer?” 

I hope that they will be the first to establish some checks and balances into the system rather than trusting that others will do so.  It’s counter-intuitive, but trusting others to do things we’re not is a prescription for disaster.  If Congress doesn’t want to contend with more emergency actions, it needs to set guidelines for the implementation of the recovery plan.

If there are topics you’d like me to address, send me an email at dale@furtwengler.com.

Is Dickens about to rival Nostradamus? 

Not likely.

Charlotte and I came back from vacation just in time to hear of yet another bailout.  Neither of us reads a newspaper or listens to the news while on vacation.  Quirky? Maybe, but vacation is a lot more fun that way.

Upon hearing the news, the Charles Dickens quote “It was the best of times, it was the worst of times…” came to mind.  The second thought was - how prophetic!  Was Dickens a prophet?  Not really; he’s simply a student of human nature.

We always live in the best of times and the worst of times.  Life is beset with both great joy and great challenge.  This time is no different.  Yet, one thing remains the same - the indomitable human spirit. 

It’s counter-intuitive, but during these trying times we’ll find people:

• helping one another weather the challenges they face
• returning to values overlooked because we’ve been moving too fast
• enjoying simpler pleasures of days past
• dealing with today’s economic challenges as we have in the past - effectively

Yes, we’re going to experience some pain with these economic challenges.  We’re also going to discover ways to deal with them that will allow us to recover more quickly than the press might lead us to believe.  It’s our nature to thrive in the face of adversity. 

As we look ahead, let’s look with the eyes of belief - belief that we will not only survive, we will thrive.  We will thrive because we possess the will, knowledge, intelligence and creativity to overcome any challenge life presents.  We will thrive, because we have an indomitable human spirit.

If there are topics you’d like me to address, send me an email at dale@furtwengler.com.

No one denies that experience is valuable…

…but what role does it play in future success?

At the risk of being labeled a political pundit (this is the third blog in a row based on the current presidential election), I’m struck by the enormity of the debate over who has relevant experience.

Personally, I think experience is overrated.  Certainly it has value, but experience doesn’t necessarily prepare us to deal with the future.  I could bore you with countless tales of experiences I’ve had in which I learned valuable lessons only to repeat the same mistake. 

There is no pride in that admission, simply recognition of the fact that I’m human and, as is the fate of all human beings, I occasionally need to learn a lesson more than once for it to stick. 

If not experience, what then should we be looking for in our presidential and vice-presidential candidates?  The ability to think! 

It never ceases to amaze me how some people can be successful in any arena in which they choose to operate.  General Electric is a fine example of what I mean.  To rise to the top echelons in General Electric, leaders must demonstrate the ability to be successful - to continuously improve results - in diverse businesses, in varying market conditions with very different technologies at work.

GE’s leaders succeed because they’ve trained their minds to see similarities in diverse situations, not because they’ve had “relevant” experience.  Indeed, people who have spent the majority of their careers in one field, often lack the ability to see anything but normal industry practices, while those who move beyond their specialty are able to craft new and exciting approaches to whatever challenges they face.

How does all of this relate to you?  Whether you’re choosing a person to lead this great country or filling a position in your organization, look first to the person’s demonstrated ability think, then at their experience.  You’ll make better choices.

It’s counter-intuitive, but critical thinking will trump experience every time.

If you’re getting tired of political commentary and would like me to address a different topic, send me an email at dale@furtwengler.com.

Was the law of attraction at work at the Democratic convention?

If so, how did it manifest itself?

Christy Beckmann, founder of The Reputation Builder, asks “How do Hillary Clinton’s and Barack Obama’s actions personify the law of attraction?”

Rarely am I at a loss for words, but I must confess that this question has given me pause.  As you’ll see from the length of this response the words came roaring back. 

This insightful question has challenged me to go deeper into the law of attraction than I’ve ever gone.  Hopefully, Christy, what I’ve discovered will answer your question.

The law of attraction basically says that we attract what we think about.  That’s the 30,000 foot view.  In reality, it’s more complicated than that.  We not only have to be able to focus our thoughts on our goal, we must believe with every fiber of our being that it will happen and we have to take action that moves us in the direction of that goal. 

At least that’s what I thought until Christy’s question.  Since then I’ve come to realize that there is another critical element - motivation.  The motivation must be balanced; it must blend the desire of the individual with the welfare of the masses. 

When motives are purely self-serving the individual rarely enjoys success.  The reason is simple.  We are not inclined to help those who don’t care about us.  How does this relate to Senators Clinton and Obama and the Democratic convention?

I have no doubt that both senators have the welfare of the United States at heart.  The question then becomes “Why was Senator Obama able to attract what he needed to win the nomination when Senator Clinton was not?” 

Before I answer that question I’d like to remind you that Step 3 in 7 Steps to Becoming INVALUABLE is to learn to suspend judgment.  With that in mind, I will not judge the motivations of either Hillary Clinton or Barack Obama.  I will not judge because I cannot know with certainty what their motives are.  Yet, like you, I have to make a choice and, yes, I realize that the Republicans offer a choice as well so we’ll add John McCain to the discussion knowing that he too cares about the welfare of the United States.

Our choices will be formed by the impressions we have of the candidates’ motivations.  In my opinion, and it is only an opinion, that the reason that Senator Obama won the nomination over Senator Clinton is that the balance between his personal goal and the welfare of the masses was tilted in favor of the masses to a greater degree than was demonstrated by Senator Clinton.

I believe that Senator Obama confirmed that perception when he said “…this election has never been about me; it’s about you.”  I believe that’s the sense that the majority of voters in the primaries and caucuses felt and that’s the reason why he won the nomination.

What’s John McCain’s “karma” in light of the law of attraction?  I get the sense that Senator McCain is struggling.  I can’t put my finger on the source of the struggle; it’s something that he alone will know when he sees it. 

The reason that I say that he’s struggling is that he seems to be spending a great deal of time reacting to Senator Obama’s actions rather than moving forward with his vision of the future.  If he were to voice his vision of the future as forcefully as Senator Obama, to provide us with enough detail to be able to see that vision ourselves, John McCain would demonstrate more clearly just how much he cares about us as United States citizens.

We gain a sense that others care about us when they take the time to educate us.  They realize that we may not always agree with them, but they respect our intelligence enough to educate us to their perspective.  This is what Barack Obama has done so effectively.  This is what John McCain needs to do if he hopes to attract the votes he needs to win the election in November.

It’s counter-intuitive, but the law of attraction works best when we strike a balance, possibly with a slight tilt to the masses, between our goals and the welfare of those we serve.  Christy, hopefully, you’ll found an answer in this lengthy response.  Thank you for the insightful question.

If there are topics you’d like addressed, do as Christy did; send me an email at dale@furtwengler.com.