Money (and lives) down the toilet

Speaking of money wasted...off the wire...


WASHINGTON - A study by two nonprofit journalism organizations found that President Bush and top administration officials issued hundreds of false statements about the national security threat from Iraq in the two years following the 2001 terrorist attacks.

The study counted 935 false statements in the two-year period. It found that in speeches, briefings, interviews and other venues, Bush and administration officials stated unequivocally on at least 532 occasions that Iraq had weapons of mass destruction or was trying to produce or obtain them or had links to al-Qaida or both.

"It is now beyond dispute that Iraq did not possess any weapons of mass destruction or have meaningful ties to al-Qaida," according to Charles Lewis and Mark Reading-Smith of the Fund for Independence in Journalism staff members, writing an overview of the study. "In short, the Bush administration led the nation to war on the basis of erroneous information that it methodically propagated and that culminated in military action against Iraq on March 19, 2003."

Named in the study along with Bush were top officials of the administration during the period studied: Vice President Dick Cheney, national security adviser Condoleezza Rice, Defense Secretary Donald H. Rumsfeld, Secretary of State Colin Powell, Deputy Defense Secretary Paul Wolfowitz and White House press secretaries Ari Fleischer and Scott McClellan.

Bush led with 259 false statements, 231 about weapons of mass destruction in Iraq and 28 about Iraq's links to al-Qaida, the study found. That was second only to Powell's 244 false statements about weapons of mass destruction in Iraq and 10 about Iraq and al-Qaida.

The center said the study was based on a database created with public statements over the two years beginning on Sept. 11, 2001, and information from more than 25 government reports, books, articles, speeches and interviews.

"The cumulative effect of these false statements — amplified by thousands of news stories and broadcasts — was massive, with the media coverage creating an almost impenetrable din for several critical months in the run-up to war," the study concluded.

"Some journalists — indeed, even some entire news organizations — have since acknowledged that their coverage during those prewar months was far too deferential and uncritical. These mea culpas notwithstanding, much of the wall-to-wall media coverage provided additional, 'independent' validation of the Bush administration's false statements about Iraq," it said.

Jeff

Golf and Business

Got a note recently from someone about a series I wrote a while back about business and golf. If you're interested, here's one of the central pieces:

Several years ago, Mike Kanazawa played a round of golf with three other San Francisco-area businesspeople.
Two years later, Kanazawa's consulting firm, Dissero Partners, landed significant projects with two of his playing partners.
"We were never out saying we could do this and that for you," says Kanazawa, chief executive of the 20-person firm with $2 million in annual revenue. "We talked about it some, but, then, we also talked about our families. I wasn't out there pumping for business."
Kanazawa's experience illustrates the subtle dance that exists between business and golf. True, business happens during the course of 18 holes—often, significant business—but usually in an understated, carefully managed fashion. And that makes it important to have a working list of business golf dos and donts.
One of the most important elements to recognize is the opportunity golf affords—if nothing else, in the amount of time you can interact with a colleague, prospect or existing client.
"With golf, you can spend up to five or six hours with someone," says Jay Monahan of Fenway Sports Group, a 17-person, $250 million sports promotion and consulting concern which is a subsidiary of New England Sports Ventures. "Can you imagine if I called someone up and asked to meet with them for five hours? With golf, that's what you're asking."
But that amount of time shouldn't automatically morph into a predatory quest to close the deal by the time the final ball has plopped into the 18th hole. Usually, anything but. For the most part, golf and business intertwine to build relationships—a variety of telling signs that suggest who may be a suitable business partner and who may be something less.
If you're the one doing the inviting, that starts with preparation—mapping out just how you can make the day a pleasant one for your playing partners.
"Make sure they have the right directions to the course and that you've invited them to a course that's appropriate to their level of play," says Hilary Bruggen Fordwich, who teaches workshops on how to combine business and golf. "It's a test of your likability. No one chooses to do business with someone they don't like."
But it can also prove a test of sorts for the other players. Experienced business golfers say they watch their playing partners to see how they handle themselves on the course. From simple acts like picking up other players' clubs and helping to look for wayward balls to reaction to poor shots, on-course behavior can prove an expansive window into professional character.
"If someone throws a club because they made a double bogey, what does that say how they might react when they face real adversity?" says Monahan.
Savvy players also match their conversation to the setting and any clues the other players may drop. If, for instance, you’ve been in substantial negotiations for several months, wait for the other player to raise the topic: "If it's important, it will manifest itself somewhere," says Monahan. That may happen on the course itself or over drinks afterward, but don't rush things. Watch for overtures that suggest your partner is ready to discuss details. By contrast, if the game is one of your first meetings, best to stick to getting to know each other.
Other tips and strategies:
*Downplay competition. "Don't go out there to beat someone," says Fordwich. "Emphasize enjoyment of the day."
* Dress appropriately. As Fordwich notes, black clothes on a 90-degree day can only lead to sweaty disaster.
*Unless you know someone's game, avoid praise. What seems like a solid 200-yeard drive may be disappointing to someone used to 75 yards more.
* Don't cheat, however innocently. Moving a ball on your own accord may seem innocuous to you—it may offend your playing partners. "You can never bee too honest," says Fordwich.

Finally, don't limit golf outings to playing with prospects or
colleagues. Dan Stewart, owner of Geo-Logical, a $5 million Port Richey, Fl. sinkhole repair company, routinely takes job applicants out for a round. The dynamics are the same—an enjoyable time that can also prove enlightening.
"Years ago for a marketing position, I invited a candidate back for a second round of golf," says Stewart. "He thought he had the job so he drank a little too much and really let his hair down. We made the decision not to bring him on board."


Jeff

Tip: Landing A Small Business Loan

If you've tried to get a loan to start a small business, you know the process can be akin to root canal on the pleasure scale--particularly if you've made the rounds of banks, business plan in hand, only to be told that you somehow or another don't qualify. Relax--it's not necessarily your fault, particularly if you're only requesting a modest amount. The reason often is large banks don't want to devote time and resources to considering and administering what they consider picayune small business loans. Boost your chances by focusing on smaller, more localized and regional banks. Since their scale is smaller, they're likely to pay more attention to start up funding requests.

Jeff

Magellan is Open!

Interesting news for investors--Fidelity's Magellan Fund, the flagship fund of the mutual fund industry that has been closed to new investors since 1997, has once again opened the fund to newbies. The reason--many of the investors who crowded into Magellan years ago--and forced its closure out of fear that the fund would become too big to manage--have retired, taking their nesteggs with them. Reports hold that an influx of new investors will allow Magellan management to move a greater share of its portfolio into growth stocks and international holdings.


Jeff

Business finance stories wanted

I'm doing a piece on how to raise money to start a small business. If yours is a success story--no matter if you got a loan, took out a home equity line of credit or simply used a credit card--give me a shout and we'll see if I can include you in my story.

Thanks!

Jeff

New Book is Out!

My new book, "The Complete Idiot's Guide to Retirement Planning" is now out. Check it out at Amazon or your local bookstore. And send me your feedback!


Jeff

Great Biz, Bad location

Just finished a column on a quandary that many small businesses face--a great operation in a bad location. If that's you, here are some ways to overcome it, short of relocating:

1. Attack the problem. If you're in a tricky, hard to find location, send out emails and flyers offering directions. Offer premiums to customers who come from distant locations.

2. Play it up in your marketing. Slogans like "Hard to find, but worth the trip" can be catchy and effective.

3. Push your website. A useful, attractive website takes the issue of a bad location off the table completely.

4. Above all, quality. A solid business with great prices and service is always worth finding, no matter the hassle of logistics.

Jeff