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	<title>Direct Payday Solutions</title>
	<link>http://paydaydirect.info</link>
	<description>Ways of dealing with bad debt</description>
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		<title>Loans allow you to create a vision</title>
		<description><![CDATA[If any of these issues is a stressor for you in forming a partnership, make a list of the objectives you’d like to accomplish for that issue. As you begin to form the partnership, make sure you address these issues with your partner. Develop a plan to ensure that any stressors have a positive outcome. [...]]]></description>
		<link>http://paydaydirect.info/?p=57</link>
			</item>
	<item>
		<title>Loans are by nature sources of change</title>
		<description><![CDATA[Partnerships are by nature a source of change, so you’ll want to identify what might cause you stress in a partnership as soon as possible. The checklist in Exercise 4 will help you determine which of the most common stress points in a partnership affect you most. The statements you mark “yes” indicate areas that [...]]]></description>
		<link>http://paydaydirect.info/?p=54</link>
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	<item>
		<title>Move your loan in the right direction</title>
		<description><![CDATA[The standard progression when dealing with change involves three stages: awareness, transition, and new reality. Whether change occurs gradually or hits like a lightning bolt, when we do become aware of it we may feel overwhelmed, shocked, outraged. If we perceive it to be negative or threatening, we may slip back into old behavior to [...]]]></description>
		<link>http://paydaydirect.info/?p=51</link>
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		<title>Don&#8217;t be affraid of credit changes</title>
		<description><![CDATA[Through openness and a future orientation an organization can begin to take a realistic look at its culture. By doing this self-analysis, it begins the process of healing the wounds caused by a past orientation. The bad news is that the journey toward openness and a more positive paradigm takes time. The good news is [...]]]></description>
		<link>http://paydaydirect.info/?p=48</link>
			</item>
	<item>
		<title>Risk arising from single issuer credit events</title>
		<description><![CDATA[So far we have described a rather intuitive way of combining individual views in a portfolio. Top-down and bottom-up analyses have determined the overall strategy for the portfolio, spread class and sector selection and finally issuer weightings. This qualitative methodology does not require estimates of returns, risks and correlations between the investments, and therefore is [...]]]></description>
		<link>http://paydaydirect.info/?p=38</link>
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		<title>Assessments of an issuer’s credit quality</title>
		<description><![CDATA[The rating agencies have been criticized for being too slow to react to changes in the credit quality of an issuer, leading to serially correlated rating patterns and limiting the value of ratings as a risk management tool. As a reaction, Moody’s decided to put its rating process under review, and acquired KMV to be [...]]]></description>
		<link>http://paydaydirect.info/?p=36</link>
			</item>
	<item>
		<title>Perceived credit quality and risk exposure</title>
		<description><![CDATA[For purposes of risk management bonds are often grouped according to agency ratings based on the assumption that bonds with similar ratings tend to show a high degree of comovement. Breger et al. (2003) examine whether the correlation between individual bonds increases if they are grouped by implied ratings, that is by spread classes rather [...]]]></description>
		<link>http://paydaydirect.info/?p=34</link>
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	<item>
		<title>Downgrading your loan is a good solution</title>
		<description><![CDATA[The addition of the individual contributions to expected excess return in Experience yields an expected 1-year excess return of 88.2 bp for A-rated corporate bonds with a maturity of 5-years. This is significantly below the initial spread of 100 bps. The difference reflects the fact that a downgrade is more probable for A-rated corporate bonds [...]]]></description>
		<link>http://paydaydirect.info/?p=32</link>
			</item>
	<item>
		<title>Credit exposure to foreign currencies</title>
		<description><![CDATA[European telecom companies have their operations primarily in Europe. Therefore, exposure to foreign currencies is very limited with the exception of Telefonica’s exposure to Latin America and Deutsche Telekom’s US subsidiaries. While in other industries an appreciating Euro increases competition, it appears that this effect should be negligible for the established European telecom services companies. [...]]]></description>
		<link>http://paydaydirect.info/?p=25</link>
			</item>
	<item>
		<title>The impact of credit on operating income</title>
		<description><![CDATA[The paper sector is only mildly exposed, since in general companies generate no more than 20 percent of their revenues in the United States. The more internationally oriented technology and chemical companies like Siemens, Philips and Akzo generate about 30 percent of sales in the United States, and have substantial further sales outside the Euro [...]]]></description>
		<link>http://paydaydirect.info/?p=23</link>
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