Mike Pennington

Stats Can Sell Anything…

Mike Pennington — Mon, 29 Nov 2010 15:51:16 +0000

…but I feel cheated when they lead me into a well founded argument and dump me right into a sales pitch.

My friend Brad sent this link of an article discussing the future of home pricing. The author suggests home prices have another 20% to fall. While the author makes a great argument he is full of bologna. (IMO) After reading the article, I knew why Brad had sent it. Take 5 minutes, read it and tell me how you feel.

Here was my (candid) response to Brad:

Even after TMI and reliable stats that paint a negative picture , I find it hard to believe that home prices have another 20% to fall. If employment corrects even slightly there will be many purchases. Interest rates are too cheap not to buy unless one is afraid of not having a job, at all. If interest rates increase it will be the result of: 1) a govt pull out of FHA insured loans (which ain’t gonna happen unless the man wants our economy to implode) or 2) because the economy is booming so that inflation is rampant. The author makes a great case using fact and figures but once some logic is applied Mr. Shillings argument seems ridiculous.

The Bigger Picture

As our economy moves forward, more people like me and you, folks who want to pay for the stuff, might become convinced to give up on the dream. The result will be strategic foreclosure where the banks will have to step in to protect principal and say “forget the interest” part of the mortgage payment. Homeowners don’t need a bailout, they need a temporary repreive of interest payments.

Give them a few years to pay down the principal and there you have it, they can sell for what they owe. Either way, the banks are going to be out the cash either by preemptive agreement with a homeowner or via mass foreclosure from the pillars of our society. Seriously, if I have to come to closing with $50,000 to $100,000 from a retirement plan, just to close the sale of my home, they bank can just have the keys. I’ll keep the cash for when I am old and gray cause at this point, I’m not sure I can make that up.

You can lead me to water but if you shove my face into it I won’t drink! (on GP)

Of course Mr. Shilling makes a well executed argument, right up to the 26th slide where I quickly realized it was an f’in sales pitch for his information service. Which then made me contrarian to his entire argument. I don’t like being sold. Does anyone? Or am I special? Give me the DIVE and I’ll make my own decisions thank you.

Objectivity Solves Problems

Mike Pennington — Sun, 28 Nov 2010 15:30:50 +0000

Inspired by Seth Godin’s post: Our Normal Approach is Useless Here.

1) New problems require Innovative solutions, right?

2) Still have lingering problems in your business? Still trying to fix them with the “Normal Approach?”

ps…that’s why the problem still exists Objectivity is Key to Innovation!

I hate to disagree with Seth Godin but…

Mike Pennington — Sat, 27 Nov 2010 14:14:28 +0000

I admire Seth Godin. He is second to none on marketing insight. He gets me excited about business.

This past week, I read a post where he ponders the question: In regards to jobs, Why do we always focus on the money first? Why do we advertise jobs or promotions as generic on items such as being part of a greater good, satisfaction, challenge, etc?

Reference Mr. Godin’s post to see the specific items and then assess my reaction. Do you agree?

REACTION

Reasons why money is held in high esteem…. It’s the lowest common denominator. All the other stuff, items 2-8 are the reasons you stay on that job, after you decided to take it. If you, I, or another employer do not advertise a tangible number, then all of the other items (no matter how true they may be) is just marketing crap, BS, hype.

IMO, for the vast majority of US families, the money is the main reason for their employment. They do not have jobs that support items 2-8 in the list. Does the guy who picks up your trash, paints your house, cuts your grass, fixes your air conditioner, replace your sump pump give a hoot about Experiencing a mission, making an impact on the world through plumbing, or solving interesting problems? That’s what the top 25% of wager earners are looking for, not the bottom 75%. Especially not the bottom 50% of families who earn, as a family, less than $45,000 per year in total.

The top 25% of wage earners see how much in revenue they generate for the firm and what they actually get from that. The firm has invested real $’s for that employee or agent to be able to do business yet it’s hard to demonstrate the value. (IE explain why they get such a small share of the overall pie)

As a result, employees who make the big bucks need the distraction to keep them content. Things like: employees are like family, we challenge you, be a part of something bigger, etc.

The fact is, most of the people reading this are in the top 25% of wage earning families and don’t realize it. Many of us are in the TOP 5% of wage earners in the US because anything over $150,000 per year puts us in that category. Who knew? Yet we as “Rich People” like to espouse what motivates poor people. And as much as times suck, debt runs high, and income low: we still ain’t po’. We still have no idea.

CONSIDER

1) Diminishing Marginal Utility of Money – The more you make, the less important that next dollar of income actually is.

2) Maslow’s Hierarchy of Needs – I need food and shelter first, security…give me appreciation and a swollen head and ego last.

BTW…I can make an argument that Drug Kingpins and Wall Street traders do it more for the acceptance and ego, than just the money, too.

Breast Cancer: I got Involved…

Mike Pennington — Fri, 08 Oct 2010 15:18:15 +0000

I just wanted to remind you that October is National Breast Cancer Awareness Month. Supporting the research to find a cure is a great cause. Please donate. Every little bit helps.

This year I am volunteering as a Crew Member for the Atlanta 3 Day Walk. October 21-24. I’ll be one of the guys handling luggage and delivering tents for over 3,000 walkers. It’s my first time volunteering. A little nervous but excited, too.

Watching volunteers in the past (my wife included), Iwitnessed the pride they had, after working to exhaustion, just to make the walkers a bit more comfortable. I saw what accomplishment looks like in the eyes of walkers who made it 60 miles. I felt the sense of community of over 3500 people coming together for one cause, at one time. Even though I’m not an emotional guy, I can tell you the emotions were real. Last year’s event was the tipping point for me. I said count me in.

So here I am, planning for days out of the office, arranging for a dogsitter, figuring out what I should pack, and trying to raise money for my share of the cause. HAVE you made a recent donation to the cause? If so, Thank You.

If you would appreciate another opportunity to participate, here it is (with an even larger THANK YOU):

Donate Here:)

Chattahooche Nature Center

Mike Pennington — Sat, 31 Oct 2009 00:38:06 +0000

Pre-Halloween party in East Cobb near the “Hootch”.

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Dropping off the kids at 3:30 a.m.

Mike Pennington — Fri, 23 Oct 2009 08:03:58 +0000

Dropping off Gaye, Stephanie, and Jake for the start of the Atlanta 3 Day Walk. Good luck guys, stay dry. Will see you on Sunday!

(me–I am going back home to bed)

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MaxTech Thursday at Pure Woodstock

Mike Pennington — Thu, 22 Oct 2009 19:14:51 +0000

Another tech talk Thursday where Maxsell leads a discussion on RETechnology at Pure Taqueria in Woodstock. Supporting our local Economy.

From the iPhone of:

Mike Pennington
678.522.7022

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Dropbox App for iPhone

Mike Pennington — Thu, 08 Oct 2009 20:07:41 +0000

Dropbox is an awesome file share system for multiple p/c or person to person sharing. You can mark files as favorites and they will sync w/ iPhone.

From the iPhone of:

Mike Pennington
678.522.7022

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Realtors Desk

Mike Pennington — Mon, 05 Oct 2009 17:40:47 +0000

Photosketch App for iPhone

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Dunkin Donuts Takin Care of Business

Mike Pennington — Mon, 05 Oct 2009 17:16:24 +0000

After the big Atlanta Floods. Here is DD taking care of business. Store was flooded with 3 feet of water so they brought in an 18 wheeler for temporary coffee and donut fixes. Yeah!

From the iPhone of:

Mike Pennington
678.522.7022

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