Most Clicked NFIB SmartBrief Stories
1. Buffett leads Goldman Sachs' $500M initiative
NFIB SmartBrief | Nov 18, 2009
Goldman Sachs Group announced on Tuesday that it will invest $500 million in a program called 10,000 Small Businesses to loosen credit and provide college scholarships, advice, technical assistance and professional networking opportunities. The initiative's advisory board will include George Boggs, president and CEO of the American Association of Community Colleges, and Dan Danner, president and CEO of NFIB. "Our recovery is dependent on hard-working small-business owners across America who will create the jobs that America needs," Warren Buffett said. Bloomberg (11/18) Yahoo! (11/17) CNNMoney.com (11/17) Wall Street Journal, The (11/17)
2. Goldman Sachs flooded by requests for aid
NFIB SmartBrief | Nov 20, 2009
Goldman Sachs Group has been swamped with phone calls and e-mails since announcing Tuesday that it will fund a $500 million plan to aid small businesses. The bank earmarked $200 million for education and training programs and $300 million for community-development financial institutions. The institutions will administer the funds but only to companies employing at least four full-time workers and with revenue from $150,000 to $4 million in the last fiscal year. In addition, the companies must have been operating at least two years and must work "predominantly in underserved markets." Wall Street Journal, The (11/19)
3. Roubini says small firms part of lagging second economy
NFIB SmartBrief | Nov 19, 2009
Small businesses and millions of people who are unemployed or underemployed are part of a second U.S. economy that is still mired in recession, says Nouriel Roubini, the New York University economist who predicted the financial meltdown. "Larger firms -- even those with large debt problems -- can refinance their excessive liabilities in or out of court, but an unprecedented number of small businesses are going bankrupt," wrote Roubini in an essay for The Globe and Mail. BusinessWeek (11/18)
4. Geithner's take on federal aid to small business
NFIB SmartBrief | Nov 20, 2009
When the unemployment rate passed 10%, federal crisis management finally focused on what to do about Main Street. Treasury Secretary Tim Geithner defended the administration's initial focus on stabilizing Wall Street, provided his own take on crisis management and outlined a six-step plan to help small business. Reuters (11/19)
5. Statistics reveal that small businesses lag in recovery
NFIB SmartBrief | Nov 17, 2009
BusinessWeek's John Tozzi made a graphic representation of NFIB's Optimism Index to study whether small business is underperforming the broader economy and whether the government reflects the disparity in reporting gross domestic product. "Though it's ticking up, the NFIB's optimism measure is way below where it has been at this point in any other business cycle since the index began in 1974," writes Tozzi. BusinessWeek (11/16)
6. Advice on the right way to fire a worker
NFIB SmartBrief | Nov 17, 2009
In the absence of a contract or collective bargaining agreement, most employers can fire workers "at will" without having to give cause. Colleen DeBaise, author of "The Wall Street Journal Complete Small Business Guidebook," suggests that to do it right, an employer should meet with the employee privately, refer to documentation that shows unacceptable behavior, allow the employee to respond but be clear that the decision is final, and get the worker off the premises right away. Wall Street Journal, The (11/17)
7. How Facebook advertising can expand business
NFIB SmartBrief | Nov 17, 2009
Advertising on Facebook allows businesses to target a specific market, get paid by click or impression, and quickly modify the marketing based on results. It is important to realize that Facebook users are more interested in what is relevant to them, as opposed to company news, so coupons, gift cards and videos work well there. USA TODAY (11/16)
8. Banks cut small-business loans by $10.5 billion
NFIB SmartBrief | Nov 17, 2009
It has been eight months since President Barack Obama asked banks to lend more to small businesses, but Treasury Department data show that lending has been cut not expanded. Of the 22 banks the federal government bailed out, three have made no loans to small businesses, 15 have reduced their small-business balance and overall small-business lending has been reduced by $10.5 billion. Federal Reserve Chairman Ben Bernanke said Monday that limiting credit to small businesses during recovery may hinder job growth. CNNMoney.com (11/16)
9. Senate unlikely to require employer-paid insurance
NFIB SmartBrief | Nov 17, 2009
The Senate probably will not require employers to provide insurance coverage to their workers but may ask employers to pay as much as $750 per worker for individuals who need government assistance in paying for their own coverage. The employer-paid insurance mandate is a sticking point with many business lobbyists, including NFIB, which warned that the mandate would cause millions of jobs to be lost. Miami Herald, The (11/16)
10. The Senate health bill: Bad for small business
NFIB SmartBrief | Nov 20, 2009
Small businesses that do not provide insurance coverage to their employees now will not get much of a break from the health care bill proposed by Senate Majority Leader Harry Reid, D-Nev., writes John Ligon, who details the failings he sees in the plan. "If health insurance costs continue to increase, as many expect will happen, then these changes will remain deleterious for small employers wanting to offer coverage to workers as well as those that continue to offer coverage," he says. Heritage Foundation, The (11/19)
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