Romania Housing

Housing Crisis

-population = 21.6 million people
- 15% live under the poverty line. 2.4 million live in extreme poverty and 1.2 million can’t obtain their everyday needs

-the unemployed, farmers, and housewives are most affected by severe poverty
-2/3 of Romania’s population is into agriculture, forestry, and fisheries

- 2005 and 06, they faced the worst floods in 100 years and in July of 2008, they had new floods in the northern countries and it left thousands of people without homes

-Many Romanians live in crowed houses and only half have access to piped water
-house quality is poor. Many houses are deteriorating because of lack of maintenance
-EX- a family of 8 would live in a 2 bedroom flat rather than a 4 or bedroom house
-many families live together
-it’s common for children to live with parents through their 20’s or 30’s because finding a house that is affordable is hard

-What’s being done?
- Habitat for Humanity has begun to help Romania. They have helped 1,185 families by building houses, rehabilitations, repairs, technical, financial and other services as well.
- Other groups that have helped out are USAID, CHF, UNICEF, Soros Foundation, andASCO Oradea
-Companies such as Petrom, Vodafone, Isover, Consolis, Pfizer, Arcelor Mittal, Lafarge, BRD Societe Generale, Timken, Whirlpool, MoneyGram, ABN AMRO, CitiBank, AVIVA, and European Western Union are bringing their support to remove poverty houses in Romania.

Works Cited

http://www.habitat.org/intl/eca/171.aspx

United States Business Culture

Here are some "norms" of American business culture:

1. Work comes first
- very task oriented and have a goal in mind and will work until we achieve it
2. Be very clear on what you say
-if you aren't then it can be seem as dishonest because you will be "beating around the bush"
3. Honesty is the best policy
-no bribes, kickbacks, or unlawful payoffs
4. Logic Rules over emotion
-do not appear emotional or unable to make a cold hard decision
5. Respect the elders
-they should be respected as the wisest and most seasoned individuals on the team
6. Women are equal players
-do not belittle them, ask them out, or treat them like secretaries (unless they really are)
7. Do not discuss politics or religion
-they have deep rooted beliefs and should not be talked about in a business setting
-Instead talk about: sports, movies, music, celebrities, books, current events

Business Etiquette On:

Making appointments-prior appointments are necessary and there is a need to be punctual
Business dress-dress conservatively, business suits, executives dress formally
Business language-English and sometimes use phrases that have to deal with sports (touch base, call the shots, team players, game plan etc.)
Addressing others with respect- use the title unless told otherwise, ask how to pronounce the name if you can't
Presenting gifts-it is a thoughtful gesture but not expected

Other:
-"time is money" to Americans
-American are usually opportunist and will probably take chances
-Americans do not usually hesitate to say "no" and are direct and will not hesitate to disagree
-when agreed on a deal, they rarely change it
-negotiating will go at a fast pace
-will take business cards but not always give them
-personal equality is guaranteed by law
-don't smoke
-handshakes with right hand
-direct eye contact

Works Cited: www.legacee.com/Culture/AmericanCulture.html and www.executiveplanet.com

Field Trip

Even though it was extemely hot outside on Tuesday, the field trip was fun. In the morning we met with Mr. Parise, who was full of information about U.S banks. He also told us how to get a credit card, how to use it, and how to build credit. We also learned that the banking crisis was caused due to the lack of trust. In Alexis, we met with Mr. Morris and he talked to us about firetrucks. We learned from him that there is no recession. Unforunately, if that we true, we wouldn't be doing this project right now. But it was a great day.

Bright Minds Field Trip

Today we met at CSC to learn about the United States Banking Crisis. Dr. Mark Parise, President of First Midwest Banks spoke to the group providing details on how the crisis took shape.

In the afternoon we ventured to Alexis Fire Equipment to speak with Jeff Morris, CEO on the recession and how it is impacting his business.

Zimbabwe

Major Industries:
agriculture: 66%
industry: 10%
services: 24%

Major Exports:
platinum
cotton
tobacco
gold
ferroalloys
textiles/clothing

Exports to:
Great Britain
Zambia
Italy
China
Netherlands
Botswana
Japan
Democratic Republic of the Congo

Major Imports:
machinery and transport equipment
other manufactures
chemicals
fuels

Import Partners:
Botswana
US
China
South Africa

Discussion and Field Trip

This morning we talked with Mr. Parise about how the Financial Crisis happened. I loved the fact that before the conversation I was hard to get a straight answer about what really happened. He outlined 4 key factors:
1.no one wanted to take risks
2. no liquidity left in bank circulation
3. mark to market issues
4. market crash because there was no trust

He also said that TARP did what it need to do. It was made to buy problem assets and to take the risk off the books to make the band "look better."

He also gave us a copy of part of the JP Morgan Chase annual report by Mr. Dimon. I am currently reading it and will blog about it when I am done reading and noting it.

In the afternoon we went to Alexis. We visited a fire truck manufacturer and seller. Because they sell overseas and because the owner seems to be optimistic and loves finding new clients they are not hit by the recession; therefore, he does not believe that there are a recession.

United States Housing Crisis

There is a lot of information on the internet about the current housing crisis. But what I have noticed is that no one has really pinpointed what really caused it. There are many opinions and finger pointing. What is clear is that the housing crisis is a leading cause in the current recession. I did find out that the national median home price fell a record 13.8% during the first quarter of 2009. I have read an article by John Hale, a person who has been in the real estate business for almost 50 years. He said that the housing crisis was caused by over-regualtion. This inflated housing prices which caused the market to collapse. I have also read a some articles and they all have the same 2 words in them: Smart Growth. I will try to research Smart Growth a little more and will make another blog about it soon. I found it interesting that they all touch on that subject and the National Housing Act of 1954. This housing crisis is what caused Fannie May and Freddic Mac to go under too. I want to also find more about the solutions becuase they will hopefully point out the causes. In general it seems to be unclear really what happened and unclear about the real way to fix it.

Works Cited: Hale Housing Crisis Web Page by John Hale (http://halehousingcrisis.com)