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Business

Karma

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I read that karma is the law of cause and effect in the world of ethics and morals.  “Buddhism links karma directly to the motives behind an action.  Motivation usually makes the difference between “good” and “bad” actions, but included in the motivation is also the aspect of ignorance such that a well-intended action from an ignorant mind can subsequently be interpreted as a “bad” action in the sense that it creates unpleasant results for the “actor”.”

I admit that I explicitly root against certain bad people who thrive in the public landscape.  These are people who have done something so duplicitous and unseemly, that hearing their very name makes me cringe.  They include:

  • Michael Vick: Yes, I am a dog-lover (but I am also a hunter).  Yes, I believe Vick has paid a penalty for the crimes he committed.  Yes, I believe that Vick has the right to earn a wage.  That said, from 2001 to 2007 Michael Vick and his cohorts fought and killed pit bull terriers.  Independent from any other action, fighting dogs is a deplorable “sport” initiated by scumbags who offer little to society.  When you add that Vick hung, drowned, electrocuted, shot and beat his nonperforming dogs to death, it adds a sadistic component that is incomprehensible to civilized humans (http://www.thesmokinggun.com/file/michael-vick-indicted?page=16).  How perverse must your mind be to torture a living creature to death?  Infamous serial killer Jeffrey Dahmer started his reign of terror tormenting neighborhood pets.  ESPN and every other media source tells me Michael Vick is now “rehabilitated”, and has moved away from his criminal past.  Like he was describing an athlete coming back from a horrific injury, Tony Kornheiser of ESPN tells us that he openly cheers for Vick to succeed.  Not me. 

 

  • Ben Roethlisberger: This past summer, Ben Roethlisberger was accused raping a girl in a bathroom of a Georgia nightclub (http://www.thesmokinggun.com/documents/sports/roethlisberger-evidence-photos).  While there was not enough evidence to charge Roethlisberger in the rape of the 20 year old, he did admit to the sexual encounter.  This was not the first time Big Ben has been accused of inappropriate sexual behavior.  Months before the alleged rape, Ben allegedly forced himself on a 22 year old in his house on Lake Oconee.  The woman told her father of the encounter, but he decided not to pursue the matter because he feared the repercussions.  Ben was suspended by the NFL for 4 games – it would have been longer if Roethlisberger had been arrested.  Too bad – another sexual predator moves forward in his life unpunished and without regret. 

 

  • Kobe Bryant: In the summer of 2003, Kobe Bryant was accused of raping Katelyn Faber.  Eventually the case was dropped when Ms. Faber refused to testify in court because Bryant provided her a fat check.  Bryant’s lawyers challenged Faber’s moral character and reputation, accusing her of multiple sexual encounters on the day of interaction with Bryant (http://www.thesmokinggun.com/documents/crime/kobe-police-file-released).  No one can be certain of what actually transpired in a hotel room in Eagle, Colorado, but Kobe made the decision to pay big money to keep the woman silent.  If Kobe was innocent why did he succumb to a payoff?  I am mortified when Stuart Scott of ESPN genuflects to Bryant’s basketball genius; never mentioning his questionable past.  He (and his other SportCenter lackeys) opines about Kobe’s deft skills and his physical talents.  The network continuously flashes pictures of his wife and daughters, portraying him as a wonderful husband and father.  At best Kobe’s a philandering fraud, at worst he is a sexual deviant who got away with a horrific crime. 

 

  • Rick Pitino and John Calipari:  These guys are just plain smarmy.  Calipari leaves schools (UMASS and Memphis), right before the NCAA penalizes the institution for multiple violations during his tenure.  Pitino (a married man) writes self-help books, preaches about virtue and discipline, then has sex with a woman in the bathroom of a restaurant.  Calipari and Pitino have not committed crimes, but they are hippocrates with no moral compass.   I am amazed that heads of fine academic institutions hire these guys, pay them big money, and then allow them to mentor young men.

 

If karma works, perhaps the unseemly actions taken by the men mentioned above will result in them enduring some degree of unpleasantness in their lives.

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Business

Optimizing Channel Partner Performance

A thriving channel partner program strikes a balance between sharing margin and lowering the cost of sales for the Original Equipment Manufacturer (OEM).  An indirect channel provides the OEM an aggregation point that ideally facilitates the acquisition of a substantially larger amount of deals.  The most successful value added resellers offer their clients a service or a product that is complementary to the OEM’s core offering.  Their solutions become part of the whole offering for customers that have shared interests/objectives.  Partners also provide the OEM an ability to cost effectively penetrate new, untapped markets while driving incremental revenue.   

Significant challenges can arise when your channel partners offer multiple solutions from competing original equipment manufacturers.  Attractive incentives must be put in place to ensure indirect sales people commit to your products and services.  Cooperative marketing efforts that produce tangible, qualified leads is another way to establish a commitment between organizations. 

Conflict between competing channel partners (as well as the OEM’s direct sales force) is another issue that regularly crops up, and needs to be preempted with regular communication and established engagement policies.

The Original Equipment Manufacturer must support a distribution channel by:

  • Co-creating a mutually agreed to business plan with quarterly reviews and scoring
  • Establishing defined goals and service/reporting requirements
  • Delivering the appropriate sales/support materials
  • Ensuring any and all technical needs are addressed
  • Training the partner to position, sell and service clients
  • Running promotions and programs to support the partner
  • Servicing the partner as if they were the end user

Value Added resellers typically sell several companies’ products.  The goal of the OEM is to become the channel partners preferred vendor.  Therefore they must help the partner become enthusiastic experts at selling their solutions.  In order to accomplish this there needs to be a deep understand of the partner’s business model specifically:

  • How their business internally operates
  • How they make decisions
  • How they sell and support their clients
  • How the OEM’s decisions impact their business

This overt commitment to understanding how their partners make money will impart real loyalty from them, and ultimately provide the OEM a sustainable advantage from worthy competitors.

If constructed correctly, a channel partner selling model can be levered by an OEM to reduce the overall costs of sales while increasing top-line performance.

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Golf

TaylorMade Rossa Monza Corza Ghost Putter Review

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I admit I am a club junkie.  Golf Digest’s “Hot List” along with Golf Magazine’s “Club Test” issues remain in the bedroom throne for months on end.  When the manufacturers head to the range to unveil their new equipment, I ensure my calendar is clear so I have time embrace the tools that promise more distance, accuracy and feel.

Unfortunately golf-addicts cannot buy a better game.  It is ultimately your swing, stroke, balance, confidence and guile that allows for flawless execution of a golf shot – not your equipment.   That said, I believe that you can lever modern technology into making a marginal swing produce above average results.   How do I know that – I personify it.  Never has a more mediocre golf swing produced a better handicap (8).  The best thing about my golf swing is that I try hard.  I truly want to get better as I find the game so extraordinary.

Given my perspective as an average golfer looking to improve, I will occasionally write reviews aboutsome of the equipment I purchase.  Despite the claims by the manufactures,  I do NOT believe that a golfer can put a club in their hand and increase their distance by 15%.  I do NOT believe that a golfer can put a club in their hand and all of a sudden spin a ball like a yoyo.  I do believe however, that a golfer can put a properly fitted club in play and gain the confidence necessary to execute solid golf shots.  The self-assurance obtained will eventually translate to better scores.

TaylorMade Rossa Monza Corza Ghost Putter 

Date Purchased October 22, 2010
Price Paid $110 (EBay, brand new) $160 (retail)
Specifications 34” Mallet
Rounds Played 1
Score/Number of Putts
  • 79 – 24 Putts (including 9 one putts)
Prior Putters
  • YES Olivia (2007)
  • TaylorMade Itsy Bitsy Spider (2008, 2009)
  • Scotty Cameron California Del Mar (2010)
Why I made the Change Actually, I have been putting pretty well with the Scotty Cameron California Del Mar all season.  That said, I was not comfortable with longer distance putts.  Beyond 20 feet, I could not easily create a continuous roll.  Understanding the issue was most probably my technique, I did receive instruction, but could not overcome a perpetual skidding issue.   I evaluated a few mallets, but did not find any of them pleasing to my eye.  The Monza Corza Ghost’s white finish definitely caught my attention.  The concept of a putter color that overtly contrasts the putting surface makes logical sense.   The aiming lines are prominent and very helpful when aligning for a putt.
What the Manufacturer Says TaylorMade‘s goal with the Rossa Corza Ghost Putterwas simple: Design a putter that’s easier to aim than any other. That’s where the white head comes in. Ghost’s “golf-ball white” color complements the white color of the ball, and also stands out easily and beautifully against green grass so you don’t have to strain to see the top-line. That takes the strain off your eyes and promotes a calm and confident state of mind, according to an expert in the field of color perception, who TaylorMade consulted during the development of Ghost. The three black lines on the crown lend further alignment support. The two outer lines are spaced as far apart as the width of a golf ball. Position the ball between those lines when you address your putt — you’ll be amazed at how easy it is to tell where the face is aiming.  The elevated crown merges seamlessly with the top of the putter face, making the top line extremely easy to see.  The circular hole at the rear of the putter head works in union with the three black lines on the crown and the golf ball to create a vivid secondary alignment aid that gives you complete assurance that your aim is true.  Rossa’s renowned AGSI+ (Anti-skid Groove System Insert) promotes forward spin for a smooth roll, while its Titallium construction delivers soft and satisfying feel at impact.Features:

  • Golf ball white finish stands out against green grass
  • Three black, easy-to-see alignment lines
  • Circular hole creates a vivid secondary alignment aid
  • AGSI+ Titallium Insert promotes forward roll
Results First and foremost, I like mallet-style putters. Almost every putter I purchase has a mallet shape.

  • Look: The putter’s off-white finish is unique.  The color is not a distraction and is actually appealing.  The putter is easy to aim as the lines on the crown of the club are inviting during set up.  The hole in the back of the putter, while obvious, is not a distraction.
  • Feel: The AGSI insert is soft and promotes a nice roll….period.  I was able to roll a few putts in from beyond 15 feet.  I was also able to cozy a few 25 footers within 2 feet on greens running at about a 10 on the stimpmeter.  Most importantly, the skidding effect was significantly diminished.  I like the stock Winn grip.  It is tacky and not overly soft.
  • Balance:  I have experienced mallet-style putters that flare open when they are grounded.  The Monza Corza Ghost face sets up square when laying the club behind the ball.
  • Forgiveness: I hit the putter square so often that I cannot tell if the putter is forgiving – more to come as my game deteriorates over the winter. 
Would I Buy it Again
  • Absolutely: I putted better than I have in years.  Every stroke (even when I missed putts), was confident and firm.  It is too bad that my season is almost over.  I will update this review next spring.   

 

Prepaid

Ensuring Cardholder Funds are Protected

As corporations consider utilizing prepaid as a tool to increase revenue and/or decrease costs , it is imperative that they ensure the dollars sent for loading go directly to, and are protected by the issuing bank.   Here are some fundamental things to consider:

  • FDIC Coverage: All corporate monies need to be deposited into an account that qualifies for FDIC pass-through insurance.  In the depository institution, monies shall be insured on a “pass-through” basis in the amount of $250,000 for the interest of each cardholder.
  • Accounting and Recordkeeping: Essential to the issuing bank’s operation, and in response to regulatory requirements, detailed bookkeeping of debit and credit entries to all accounts should be maintained on a daily basis.  This daily reconciliation of accounts is critical information for the regulators with respect to matters such as the bank’s overall financial soundness and their cash position with the Federal Reserve Bank.   The debits/credits are applied to the set-up account based on file feeds (including prefunding) and are determined by number of cards issued, card balances and card transactions.
  • Access: The set-up account can only be accessed via a systematic, file-feed process.   There can be no manual ability to directly make debits or credits.   All debits and credits must be traceable, and subject to audit reviews. 

One final note: once payment is made and funds are processed, the monies become the property of the individual cardholder, and cannot be accessed by anyone but the cardholder. 

Prepaid, when implemented correctly, is a powerful financial instrument that can be levered to help an organization meet its primary business objectives.  Companies that intend to lever prepaid must complete the necessary due diligence in order to guarantee their monies are protected.

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Prepaid

Student Refund Management – What to Consider

Students enrolled in academic institutions that receive some type of financial aid, many times end up being owed a refund by the school after their tuition invoice is settled.  The bursar’s office is usually charged with determining what dollars are owed to which students.  Historically, the next step in the process entails manually processing then sending out checks to each qualified student.  Not only is the process slow and cumbersome, it is costly to both the institution and the student.  Industry data suggest that is costs almost $40 to deliver a check to a student.  Once delivered, the student has to find a place to cash the check.  Many times there is considerable fee associated with providing them the cash. 

The solution currently being adopted by many colleges and universities encourages the student to accept some form of electronic payment.  Through an integrated web interface (usually during the enrollment process), the student is prompted to select how they want to receive their refund:

MasterCard/Visa Prepaid Card

  • Student receives a MasterCard/Visa debit card and all refunds are loaded to the card
  • The student can make purchases anywhere MasterCard/Visa debit is accepted in store, online or by phone
  • Deposits are posted to MasterCard/Visa debit card a day after award is disbursed to Student Account
  • No delay while waiting for the mail
  • No bank account required or trip to the bank to cash a check
  • Surcharge-free cash withdrawals at specific ATMs locations (including on campus)  
  • Coverage by the card’s inherent fraud protection feature in the event the card is ever lost or stolen
  • Free online account management 
  • Flexible, convenient and safe access to a student’s funds

Electronic Funds Transfer (EFT)

  • Student receive an electronic funds transfer to their checking or savings account
  • Deposits are posted to checking or savings account a day after award is disbursed to Student Account
  • No delay while waiting for the mail
  • Free online account management 
  • Flexible, convenient and safe access to your funds

The fundamental issue associated with this paradigm shift involves ensuring compliance with Title IV and other legislation that regulates how a refund can be disbursed.  Title IV Funds refers to the federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs: Unsubsidized Federal Stafford Loan, Subsidized Federal Stafford Loan, Federal Perkins Loan, Federal PLUS Loan, Federal Pell Grant, Federal Academic Competitiveness Grant, Federal SMART Grant, Federal Supplemental Educational Opportunity Grant and Federal TEACH Grant.  The Department of Education’s guidance on this topic suggests that a check must be a method of disbursement made available to the unbanked student (or a student that fails to provide their bank routing/transit information).  If that student does not select a form of payment, the default method of payment must be a check.  In addition, a school must adopt reasonable safeguards and obtain authorization from the student (e-signature is fine) before an electronic payment can be made.   

Other issues associated with moving to an electronic form of payment involve the predatory fees some vendors charge for providing the service.  Along with severely punitive insufficient fund fees, some of this companies charge students incredibly high “abandonment account fees” if the monies remain unused in their assigned account.

The obvious economics suggest that academic institutions must move their refund disbursement process to an electronic form of payment.  That said schools must carefully evaluate all platform options before aligning with a potential provider.   The institution must be certain that the ultimate solution deployed considers what’s best for the school and the matriculating student. 

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