The economic explosion continues to ripple throughout the country.  Calls for taxpayers to bailout private companies for fear of an economic downturn plays on every network and old guard paper media outfits.  “You only seem to get the real news from talk radio and the Internet,” says Bashar Jarbow.  “You can’t trust the TV networks or newspapers anymore.”

Jarbow has good cause to be disillusioned.  However, hidden in some news pages were weak warnings of the looming economic crisis.  Fadi Faraj of Chicago, Illinois e-mails www.CHALDEAN.org an archived article in the New York Times back Business Page titled, Fannie Mae Eases Credit To Aid Mortgage Lending. 

Faraj, highlights the intense pressure from the Clinton Administration to force mortgage loans to low and moderate income people.   Congressional leaders arm twisted private banks to make more subprime loans to borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans.

California, USA –Chaldean business leaders are fast feeling the pinch as banks are reluctant to even give payroll loans on verified accounts receivables.  With the U.S. Economy on the verge of bankruptcy Chaldeans are still befuddled with how this could be possible. 

Sarmad Khomoro, of Bay Side Liquor in Los Angeles puts it this way, “If one customer asks me to loan him some money and that he will pay me back next month, I can handle it if he doesn’t pay his debt, it’s only one person.  Now, if the city of Los Angeles passes a law that tells me I have to give everyone who asks me a loan and the city will back-me-up if they don’t pay me-back.  I am going to give loans to hundreds of people because I want to get more customers and make them happy.  I don’t care if they can pay it back or not, since the city promised me they would bail me out if there was a problem.”

Khomoro’s example is pretty much exactly what happened on a national level with banks.  Banks were reassured that bad loans would be protected by Fannie Mae and Freddie Mac.  www.CHALDEAN.org Michigan columnist Sam Yousif wrote that the blame lies with Democrats.  The article created a flurry of e-mails.  Over forty-two e-mails were sent asking for more information.  So we put our California business reporter, David Najor on the task.  This is what Najor reports...

It all began with the CRA (Community Reinvestment Act) that quickly turned into a thief’s bank in the early 90's.   The Los Angeles Times reported that, starting in 1992, a majority-Democratic Congress "mandated that Fannie and Freddie increase their purchases of mortgages for low-income and medium-income borrowers. Operating under that requirement, Fannie Mae, in particular, has been aggressive and creative in stimulating minority gains."

Michigan, USA - “Me and my wife work over seventy hours a week.  We make all our payments and when we can’t afford something we don’t buy it,” says Sam Kalesho.  “Our government is going crazy.  They are stealing from us all.  They want more taxes, charge us more for electricity, and killing America. Whoever’s fault this is should never be in politics again.”

Kalesho is surprised when a customer of his yells out, “Then get the Democrats out of office.”  Trevor Raddison, shopping at Lakeside Liquor blames the Democrats for the economic collapse.  “McCain himself tried to stop Fannie Mae and Freddie Mac in 2006.  He predicted this tragedy and the Democrats blocked him.  Democrats are bought and sold.  Fannie and Freddie paid millions to the Democrats to protect them while they were cooking the books.  They gave protection paybacks to Obama, Biden, Clinton, and Dodd.  They act like they are for the working man, but they aren’t.  To them it is all a front.  Immigration, not allowing us to drill in America, not allowing people the right to work, Democrats are crooks.  I burnt my democrat card a long time ago.”

Raddison is right that McCain was a leading proponent of the corruption in Fannie Mae and Freedie Mac, that have caused the economic stumble of America.   Congressional record shows that back in 2006 McCain hammers them for falsification of financial records. Ironically the leaders of the corrupt companies, including Franklin Raines and Jim Johnson, both worked as advisers to Barack Obama. 

Chaldean family businesses present a unique set of conflict resolution strategies at the workplace.  Conflicts at home or at the business, whether they’re interpersonal or purely business, are an unavoidable fact of the Chaldean family business life.

 But a disagreement doesn’t have to end with hardship and hurt feelings. Employing smart psychology can help younger Chaldeans handle conflict wisely with their seniors and end up with a solution that works best for everyone.

Dr. Nabil Rafou, a Chaldean social psychologist who is an expert in conflict resolution, negotiation, mediation and leadership, shares some of the tactics that work among Chaldean family businesses.  “These ten tips work particularly well given the Chaldean cultures blended history,” Dr. Rafou says.  

Michigan, USA - Frustrated Detroit Chaldean business owners breathe a sign of relief.  “Finally.  It took this long and cost so much for this city to see what kind of crook we had in office,” says Khalid Nalou, manager of Downtown Corner Market.  “He picked on small business from day one.  This man forced more business to leave a city than Katrina.  I moved my entire family from Detroit and was looking for another place to work.”

The infamous Democratic Mayor was not shy to share his dislike for small businesses in the city.  He often complained and organized attacks against convenient stores, gas stations, hardware stores, salons, and dollar retailers. 

“He upset and offended so many people.  He was arrogant and thought he was a lion.  Now he is a mouse.  When you are sel;fish and not humble, this is what happens,” says Nalou.   Kilpatrick will shamefully resign, serve 120 days in jail, and pay $1M restitution. 

Michigan, USA - Often food of the ethnic variety is a cultured taste where so much is tied to familial memories and good times.  A whiff of a favorite dish can transcend you back to a fond experience.  Add to the memories a combination of authentic spices and learned taste buds and you have a native’s perspective of their own cuisine. 

However, to someone less adjusted to the culture, culinary experience, or learned taste buds you might find a completely different perspectives.  Jane Slaughter, food critic of Detroit Metro Times recently shared her insight of New Sahara located in Farmington Hills, Michigan.  This is what she had to say…

California, USA - “Few would argue that the energetic entrepreneurs have transformed small business in metropolitan areas of Michigan, California, Illinois, Arizona, and Nevada,” says Rebecca Cohen of California’s Bank & Trust speaking of Chaldeans.  “They are hard-working, brilliant in business, and have a remarkable talent for negotiations.”

Although the accolades and praise rings true to many, Chaldean business owners still remind budding entrepreneurs to be mindful of banks when doing business. 

“Banks are like any other business.  Their inventory is currency.  They want to buy currency when it is inexpensive and sell or loan to you at a higher rate,” says Masood Bajou.  “Chaldeans in business or not, should always keep a close eye on their banks and the fees they charge.”

Increasingly, banks are finding ways to impose bigger and trickier fees on account holders.  Uncovering the creative ways banks assess fees and other hidden costs to their customers was no easy task.  Nonetheless, Chaldeans should be watchful over some of the sneakiest fees and quickly master ways you can avoid them...

California, USA  – The event is planned from 9 a.m. to 3 p.m. Saturday and Sunday in the southwest parking lot of the El Cajon Wal-Mart, 605 Fletcher Parkway.

The event is free and open to all county residents. E-waste includes old computers, TVs, stereo equipment, phones and other items that can't be thrown in the trash.  Household appliances and batteries will not be accepted.

Also on Saturday at the El Cajon Wal-Mart, San Diego Gas & Electric is partnering with Electronic Disposal Group for a light bulb exchange.

Michgian, USA - Tough economic times in Michigan have made it difficult on many Chaldean families.  Without a doubt, a large majority of Chaldeans have their own business or employ other Chaldeans.  The combination of cultural flexibility and understanding, language, and the hard-work ethic desired has brought Chaldean employees and employers together. 

Recognizing the need, the Chaldean Education & Career Center (CE&CC) has partnered with Oakland County Workforce Development Corps to provide Chaldeans a convenient, one-stop access to job training programs and services for employers and job seekers.

We have convenient centers located in highly populated Chaldean residential areas to serve your needs. 

There are many things involved in establishing a new business. “One of the important steps is to protect yourself from hidden liabilities,” says tax clearance expert Debbie Kassa.   When buying or establishing a new business in Michigan, Taxpayers are required to meet certain obligations under Michigan law, including filing tax returns on time and with the correct payment when required.

Kassa is a decade long veteran of the Michigan Department of Treasury where she was in charge of reviewing Tax Returns from 1040's to the SBT & SUW returns. She also worked 7 years in the Tax Clearance Division reviewing Business accounts for Businesses & Corporations seeking a Tax Clearance.

Kassa advises every business owner on Successor Liability and how to best prepare or avoid such situations.  “When any Chaldean buys a business, even a portion of a business (including stock of goods or even the transfer of a liquor license), they may be held responsible for the previous owner's liabilities, regardless of any contractual language to the contrary.“