On Friday, December 19, long-time Wall Street wunderkind, Bernard Madoff went before U.S. Magistrate Judge Theodore Katz appealing his current bail conditions that require him to remain under house arrest.

You really must feel sorry for the guy, forced to stay locked up in a 12-room penthouse in Manhattan.

The World’s Largest Ponzi Scheme

Madoff created the world’s largest Ponzi scheme also called a pyramid scheme, paying long-time investors with new investors’ money. And year in and year out, including 2008, a year in which we watched stocks plummet 35% on average, Madoff’s early investors continued to see an average annual gain of 9%. Bernie Madoff was a stock-picking genius!

Here’s the thing. Madoff made his name as the head of the National Association of Security Dealers – the NASD in NASDAQ. Now, wouldn’t you trust your investments to the one-time head of the NASD? No brainer, right?

“Oh, what fools these mortals be.” William Shakespeare

Read the whole article and my tips for avoiding these traps.

We’re witnessing the revamping of the world economy. And it’s happening at the speed of 24 hour news channels right before our eyes. Unprecedented.

Unfortunately, the small business owner is squeezed as long-time clients cut costs and no longer “require” your services. How many of these losses can a small company absorb? Not many. Too many and jobs will have to be cut.

Nothing undermines company morale more than layoffs. That constant fear of “I’m next” reduces productivity. You might even lose some of your best employees to other companies if those high-level managers take a pro-active approach and leave before the layoffs begin.

Maintaining staff morale amidst an office massacre is impossible. Watching co-workers clean out their desks after years of faithful employment is gut wrenching for the company owner, the remaining employees and, of course, the packer.

However, there are things you can do to lessen the impact of this economic slowdown and maybe save a job or two in the process. At the very least, these steps will help maintain company morale after the massacre.

Read my 6 suggestions here.