Last week was all about the turkey, the family, and the shopping. This week is all about getting back to work, enjoying and/or bearing the holiday music, and of course, even MORE shopping. Cyber Monday, the widespread discount day for online businesses becomes more popular and successful every year. According to media groups, this year’s sale showed the highest sales numbers since 2005, the amount spent being close to 2 billion dollars. We’ve been extremely busy this year, and the past 18 months have been the busiest times for our business as a whole. This tells me two things; people are hiring, and the economy seems to be headed in the right direction.
Recently in the news, McDonald’s is said to be losing its presence as top dog of the fast food industry. The company experienced its first drop in sales for the first time in 9 years. I can only speculate, but logically this turn of events makes sense. Perhaps McD’s is being outranked by Wendy’s and Burger King because these two companies aren’t afraid to shake things up. While McDonald’s has pretty much remained stagnant in its ways, BK and Wendy’s have upped the ante by introducing new menu choices, new advertising strategies, and incentives. Taking risks is an important part of business. There is something to be said for banks, financial institutions, and businesses of all kinds for that matter, who aren’t afraid to take risks, adapt to the changing times and business climates, and look for new ways to be innovative.
And last but certainly not least I have to talk about…you guessed it! “Gangnam Style”! This YouTube sensation went viral this year. It seems as though every age group knows this catchy tune, from toddlers to grandparents. This year credit positions are our “Gangnam Style”. We have filled more workout, credit analyst, underwriter, and chief credit officer positions this year than any other type of position. While we typically fill a few chief level positions each year, this year we have filled multiple, the majority being in the credit world. Unlike “Gangnam Style’s” popularity, we can at least speculate as to why this is. Credit people keep the bank in check, by reducing and calculating risk, making sure the bank is compliant with government regulations; basically making sure that things are done the right way. This shows us that banks are not only hiring, but hiring the right people to avoid the problems which contributed to the economic crisis. From our perspective, things look promising and positive, at least in our little banking world.
