As a leader, making sure that your team members connect is one of important responsibilities that you may have. A team that is connect means that if an issue arises, then the team works together to solve the issue. One example of a connected team that we have from recent history is The Obama Presidential Election team. I would call it the “Obama Connection” because they used Web 3.0 strategies to connect with supports to not only raise money but also votes.

In reviewing the “Obama Connection”, you can see that they used social networking websites such as Facebook and Twitter to keep their teams connected with each other and supporters. Is your team as well connected under your leadership? To help you measure your team’s connectivity, I have created a short list of questions that you can answer about you and your team to help you determine your connectivity.

1. Do you have a strategy plan in place to handle communication for your team?
2. Does your communication strategy plan allow each member to communicate with other on the team without having roadblocks that they have to get through?
3. Do the team members understand who is responsible for specific task so if an issue arises they will know who to go to?
4. Do you have an intranet in place so that team members can share documents and information in a protected environment in case they are not in one central location?
5. Have you been using an instant messaging system to make it easier and quicker for team members to communicate instantly with each other about question and answers?
6. Is there a direct tie-in between upper manage or decision makers and your team?

These are just a few of the questions that you can ask yourself when it comes to making sure that you team has a well connected communition strategy plan. Below is a video about leadership and teamwork collaboration that can help you better understand the connection factor for teams.

Teamwork and Collaboration

Image: ZumaPress.com

Is your bank stressed? The tests are in and 10 out of 19 banks tested did not pass. Here’s some of the opinion swirling around the stress tests.

Douglas McIntyre at Daily Finance broke down the three categories of stressed (or not so stressed) banks, and how they will proceed from here.

Based on the leaked information and how the banks stocks have traded over the last week, Wall Street believes that most banks are in relatively good shape. What should concern investors is that, if the economy does not get better soon, then the “stress tests” were not rigorous enough and the banks will have to go through another round of recapitalization later this year or early in 2010.

The Baseline Scenario looked at the stress tests from a PR spin perspective.

The public relations campaign packaging the bank stress tests is kicking into high gear and our professional information managers are really hitting their stride.  They face, of course, a classic spin problem: you need to get the information out there, but you don’t want to be too definitive on the first day or soon after – if you’re easy on the banks, that looks bad; if you’re tough on the banks, that might be dangerous.

Simon Maierhofer speculated on the stress tests’ effect on the market.

As we’ve found out, just the perception that a bank isn’t safe can create a run on the bank. Such a run on the bank (defined as too many customers withdrawing their money at the same time) is exactly what “killed” Washington Mutual. Regardless of the results, we can be sure that the government will do what it takes to avoid a run on any of the banks undergoing the stress test.

George Stephanopoulos bottom lined it: Obama won’t need more TARP money from Congress this year.

That clears the congressional decks for the rest of the Obama agenda — especially health care.

And click here for Mike Keefe’s cartoon on stress tests.

Image Credit: Anonymous9000, Flickr

Earlier today, the Obama administration announced plans to expand the help available for those affected by the housing crisis. During the housing boom, many mortgage lenders offered second loans to potential homebuyers so that they’d be able to purchase real estate even without a down payment. Obama’s new plan would offer incentives to lenders to help consumers dealing with these piggyback loans.

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Second loans are affecting about half of all homeowners struggling with ther mortgages. Unfortunately, homeowners who are trying to refinance for a lower monthly payment need permission from the company holding the second mortgage, and this a roadblock for borrowers trying to get back on their feet.

The new second mortgage initiatives will be funded from the money already allocated to the overall housing aid plan. Mortgage companies will get $500 for each modified plan, plus an additional $250 a year for three years if the borrowers don’t default. Borrowers, on the other hand, would get up to $1000 over five years that can be used to pay off the principle of a first mortgage.

Additional incentives would give $2500 payments to mortgage companies who agreed to participate n the Hope for Homeowners program, which was launched last fall.

Yesterday the Obama Administration revealed their three-part Public-Private Investment Program to clean up so-called toxic assets off bank books. Here’s the plan.

Part 1 - Bundling Whole Mortgages

Under one component of the plan, the Federal Deposit Insurance Corporation (FDIC) will provide oversight for a program of bundled mortgages. Banks will group whole mortgages together to sell to private investors. The FDIC will then auction these off. Making the investment attractive is the fact that the government would lend up to 85% of the purchase price for each portfolio of mortgages. (See my post on leverage from last week.)

Part 2 - Pooled Mortgages

While the bundling plan is for whole mortgages, another component of  the plan deals with those mortgages that have already been cut up and used to back derivatives. The Treasury will help finance the purchases of unwanted mortgage-backed securities. These are the pools of mortgages that have been packaged into bonds with a credit rating.

Part 3 - Term Asset-Backed Securities Loan Facility (TALF)

Buying up the bundled mortgages and pooled mortgage back securities are expected to take care of $500 billion to $1 trillion worth of troubled assets, according to Treasure Secretary Timothy Geithner. Another $1 trillion will be available through the Term Asset-Backed Securities Loan Facility, or TALF.

This joint venture with the Federal Reserve, which was originally created to finance new consumer and commerical lending, has been expanded to included financing the purchase of existing troubled mortgage-backed securities.

Non-Recourse Loans

All three programs offer non-recourse loans from the government. This means the loan is secured only by the underlying asset. If the borrower defaults, the government takes the real estate and sustains the loss.

Taxpayers will win if the borrowers do not default and continute to pay the interest, and also if the “toxic” real estate rises in value.  And we’ll all win if the move does what it’s really supposed to: stabalize the economy.

Image Source: Newscom

What happened this week in the money?

• Games Industry Biz reported on a Tiga study that reveals UK video game industry seeks financing options and tax relief similar to what the Brits have done for film.
• Bruce Watson at Daily Finance weighed in on Obama’s controversial endorsement of the stock market.
• peHub reported on the sale of tuition micro-financer TuitionU.comto GreenNote Inc., a micro finance and social networking company. What’s micro-financing and what’s it got to do with social networking? Find out on GreenNote.
• Carter Dougherty at the New York Time wrote about governments’ efforts to revive private finance markets, specifically  Japan’s move to protect Toyota by tapping into foreign currency reserves.
• New York Magazine found that gold diggers women who date bankers are re-evaluating their dating criteria. Some may even pay their own cab fare.

There you have it, straight up money talk for Saturday. Let us know what else you find out there that’s good enough to share!

Image Credit: Saquan Stimpson/monstersh aq2000, Flickr

U.S. President Barack Obama formally nominated former Washington Governor Gary Locke for commerce secretary on Wednesday. Locke was Obama’s third choice for the job.

Image: Newscom

His first nomination was New Mexico Governor Bill Richardson. Richardson withdrew his name amidst fearing a federal investigation would delay the process. Obama’s second choice was Republican Senator Judd Gregg (New Hampshire). Nine days after the President announced his nomination, Gregg also withdrew, citing policy differences. He went on to vote against the stimulus bill.

Locke hopes to concentrate on technology and expanding markets for U.S. goods, creating jobs and increasing entrepreneurship.

“The Department of Commerce can and will create the jobs and economic vitality that our country needs,” Locke said today at the White House.

After Locke’s nomination, the only open cabinet post is that of secretary of health and human services. After Tom Daschle’s withdrawal, Kansas Governor Kathleen Sebelius is the front runner.

Source: Bloomberg

Yesterday, Publishers Weekly announced that Barnes and Nobel had canceled their 10,000 book order of Obama’s Challenge: America’s Economic Crisis and the Power of a Transformative Presidency. The book, written by Robert Kuttner and published by Chelsea Green is scheduled to be officially launched at the Democratic Convention which starts on August 25.

The reason Barnes and Nobel canceled the order, according to PW, because Chelsea Green has signed an early exclusive agreement with Amazon. The sense is that Amazon’s attempt to get a lock on print-on-demand is costing independent bookstores and authors significant money.

Hut Landon, executive director of the Northern California Independent Booksellers Association is quoted by PW as being “disheartened”

Chelsea Green has attempted to explain its position as minimizing its risks in a letter on their website.

My hope is that this is the beginning of Barnes and Nobel’s counter to Amazon’s POD position.

What do you think?

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