The Happiest People by Donny Wise
Story Synopsis Before Excerpt:
Donny Wise is terminally ill, and his physical health is in collapse. The medical professionals did diagnose his condition as Anxiety. This misdiagnosis took four months of begging and pleading doctors that his condition was not mental….This point of the story is the doctor’s did realize the severity of the situation, but all tests were negative. The physical part of the fight was almost a lost cause, and the preparation to make a last stand mentally. Donny is preparing mentally to continue his fight. The reflection is naming the happiest person(s) in his life. This is reflection on his youth, and the answer to the self imposed question through deductive breakdown…..
Back to my youth, I grew up in an affluent home, and I was aware of material possessions. I was aware of the wealth when at home with my parents, my school associates, and society in general. Material and money did not seem important with Ma Jernigan or Grandaddy. Family was important, and I was important. I went to private school in dress shirt and ties during the school year, and I was barefoot all summer in the country with my grandparents. My granddaddy had a grocery store, and a farm. Ma Jernigan did have her garden, fruit trees, and a social calendar. Both were inclusive to my presence, and I was included in times that were least convenient. Ma Jernigan would not miss her beauty shop appointment, and I went to the appointment with her. My Grandaddy would assist in pretend price mark downs to drive business including new price tags. I did not realize the customer would be confused over the pretend mark downs, and Grandaddy would accommodate with the discounted price. One taught me to be social in every type of environment, and one taught me about business and client relations. The two areas of expertise in my life as adult in the current day…
As a child, I lived in storybook of perfect for the first 18 years of my life. The unconditional love, safety, the freedom of living, and working on the farm did provide an experience as close to heaven will be on this earth. I did not realize the cost of my childhood gift, because most kids (up to 18) did experience life like this including my grandparents. My grandparents paid in full for the luxury and comfort of my existence. They lived in hell as younger adults, but rose above that experience to provide the childhood of wonder and near perfection for my tender years. My personal appreciation fell flat as an adult for I knew the world through my existence. This is my game, and you approach me. It is all about me. The values of my youth were not relevant to this modern time. This arrogant behavior became a harbor for evil inside my soul. The gambit was crumbling when I became sick in 2003. The last icing on my cake was licked off to expose the ugly and frightened person. The years would pass as my life and environment transformed, but a certain set of truths never did change….My sickness brought the cold reality to my awareness this modern lifestyle will do zero to save me..Those truths of the past would…
As I progressed in my sickness, I was recollecting my life as a boy. I became aware of two small likes in my life were a direct result of my childhood. As a boy, Ma Jernigan was my Katherine Chancellor from The Young and the Restless, She was the matriarch. She had style, grace, and a personality. She would not allow you to call her Grandma…It was Ma…In addition, Grandaddy was my buddy. He showed me the enjoyment of the simple things. He tried to teach me like a son, and we would hang out in his grocery store. The first shipment of Mello Yellow came to my Grandaddy’s store. He could not sample the product, because he did not drink caffeine.When I was 9, my Grandad gave me the first Mello Yellow of many. Some people footprints are resilient in the impact left years after leaving this earth. The footprints of a few do not fade, but stay in my soul. In 2012, I still watch The Young and the Restless and drink Mello Yellows. How funny is that….Even in my sickness, I still like both…
Excerpt from The Happiest People by Donny Wise to be released May 11
DC Community Banks cover a large coveted footprint of DC proper, Northern Virginia, and Maryland as an aggregate unit, but individually are fragmented in market presence and penetration. The individual community bank is a weakness in the current economic environment, and this weakness is a vice on the bank’s ability to be competitive, hamper revenue and market growth, and vulnerable to any minor flux in the market or portfolio. DC Community Banks are missing a market opportunity in wake of the historical demise of Chevy Chase Bank, and the vacuum of a regional player in the market leaves a marketplace of small community banks and banking giants with headquarters elsewhere. The Washington Post details the challenges of the community banking industry in the DC marketplace. Recent events in the implementation of the financial reform bill and loan demand in a flat economy. Strategize to survive is a way for community banks to collaborate, coordinate, and innovate to capitalize on strengths and effectively solve weakness.
In the traditional model, a merger would unite banks to strengthen position and presence in the market. The recent Eagle and Alliance merger attempt is a huge indicator of the difficultly a merger of two community banks in DC is less than feasible. Community banks must attract new clients in a market of commuters and movers and overcome the smattering of a few branches and ATM locations to service the market. The credit unions collaborate to overcome the same challenges of branch and ATM coverage. The Shared Branch Network allows the Federal Credit Unions in downtown DC with one or two branches operating in a secured access area to provide customers with the option to make deposits or withdraw cash at any credit union in the Shared Branch Network.
A second example of strategy is to coordinate with other community banks to share resources to provide customer offerings and services that may be too expensive or niche for one bank to offer alone. Credit Unions coordinate to provide financial services and insurance options by sharing a representative with one or more credit unions as a third-party provides the products, and the credit unions provide the clients for these services. Several community banks are active in the mortgage origination business, and they coordinate to originate the mortgages to be sold without retaining the origination’s in the bank’s loan portfolio. Another example is finding partner community banks to coordinate an exchange of services to complement a gap in the bank product offering. One community bank in Northern Virginia offers remote deposit with no cash management services to business customers, and another bank in Maryland offers cash management with no remote deposit service. The consideration of compliance must a factor in a real world partnership of this magnitude. The two community banks do attempt a merge but coordinate services to provide clients of both banks cash management and remote deposit without infringement in each other’s market but coordinating services to save on costs and strengthen position in the market.
The final example of strategize to survive is to innovate, innovate, innovate. Community banks focus on attracting small business owners because of the value in profitability in origination of business loans to this niche clientele. The need for business loan products is non-existent as healthier businesses are not seeking credit in a fragile economic environment, and the financial reform bill is full of new regulations and associated on certain lending products and services. Community banks must innovate to overcome the loss of revenue and increased cost environment. Business owners are not the only clientele in the DC marketplace as demographic information provide insights into additional penetration in the market. In addition, the bank can innovate a new program to attract the up and coming affluent young professionals since the DC market is a destination of this demographic. The marketing to a new customer group provides an opportunity to recoup the revenue from the decrease in loan demand and meet long-term strategic growth objectives in a broader penetration in the market.
As a former banking executive, relevant strategy was essential to be flexible in adapting to economic and market change to position market to be successful in a volatile and changeable market. The community banking industry can utilize the same strategies as the credit unions to overcome similar problems in locations and product/services offered. The industry has access to an affluent marketplace to pursue new opportunities. The community banking industry in DC must strategize to survive in the current environment. The adoption of practices now in place and capitalizing on a diverse, affluent marketplace can bring the positive results of change without bearing all the costs.
Continue reading on Examiner.com DC Community Banks must strategize to survive – Washington DC consumer and banking | Examiner.com http://www.examiner.com/consumer-and-banking-in-washington-dc/dc-community-banks-must-strategize-to-survive#ixzz1pYSEBhKz
The upcoming week will have several news items to watch as potential high impact items to both the consumers and banking industry in the DC market.
1) Federal Home Administration (FHA) may run out of money, and require government bailout money in the near future. The agency is played a major role in providing mortgages to consumers with less money upfront for a down-payment or flexibility on credit scoring issues, and the agency will back one-third of all mortgages originated in 2011 . How this bailout will affect the agency, the mortgage lending market, or consumer access to credit? The developing story will bring more insight to criticality of the situation, but the final impact is yet to be determined.
2) E*Trade did end the week as an independent entity but the decision did come at a heavy cost to the company’s stock. E*Trade ‘s HQ is New York, but E*Trade Bank’s HQ is Arlington, VA . The bank’s HQ is supported by a customer call center and operations center in the same facility. E*Trade has $31 Billion in deposits with a substantial workforce in the DC market. The company’s announcement not to sell was not the finality to the future of E*Trade’s presence in the marketplace. The Citadel is the company’s largest investor, and did pressure E*Trade to pursue a strategic review to determine a suitable acquistion partner. E*Trade came back alone without a suitor for the online brokerage firm’s business. E*Trade is stuck in a unique situation. First, E*Trade’s has mortgage loans or legacy loans in trouble that total $1.3 Billion and a leftover from the 2008 credit crisis that leaves few if any choices to buy the company. Second, E*Trade is profitable again and growing number of clients and dollars invested and number of trades 20% in one calendar year, but the momentum and results are not strong enough to overcome challenges on the company’s balanc sheet. The reaction to E*Trade’s decision to remain independent has been negative. The stock was rocked as shares fell under $10 a share on Friday, and this drop is without any recourse from E*Trade’s largest investor Citadel. Will E*Trade be able to withstand the investor fallout? How low will the stock price go? Next week will bring more finality to the E*Trade story.
Continue reading on Examiner.com FHA bailout, E*Trade fallout: Nov 14-20 – Washington DC consumer and banking | Examiner.com http://www.examiner.com/consumer-and-banking-in-washington-dc/fha-bailout-e-trade-fallout-nov-14-20#ixzz1pYUpuPak
Opinion and Analysis:
Why are relationships essential in the real economy?
Why are relationships essential in real life? Real life minus relationships would cease to exist. Relationships provide the platform to merge abilities to obtain an outcome that could not be possible alone, and the forging of a relationship is the acknowledgment of trust in another individual(s) shared values or beliefs to unite and achieve a common goal.
Why are relationships essential for the real economy? The two facts are factual about the American economy that has been essential to our economic growthsince the end of WWII. First, the growth in outstanding credit year after year has been the driver to recovery in previous economic downturns and the driver to widespread prosperity in the American economy. Second, the primary avenue to provide accessible credit throughout the United States is the branch banking network located in every community. The special relationship shared with banker consumer/small business owner would insure a return to growth as long as this relationship maintained integrity through the bonds of trust.
In previous downturns, the easing of monetary policy through rate reductions by the federal reserve would trickle down to the banks offering the consumer easier access credit at a cheaper cost. However, the credit collapse in 2008 has resulted in a vacuum of trust between banks and the consumer. The banks are not in the business of providing loans to a debt loaded consumer. Consumers are not spending money and small business owners are left in limbo in expanding and hiring new employees. The collapse of trust has crippled a relationship that is essential in the real economy. Until this relationship is mended, the real economy can be deemed as a future uncertain.