Stocks rally further in run-up to EU summit - The Guardian Stocks rally further in run-up to EU summit - The Guardian

Tuesday, May 22, 2012

Stocks rally further in run-up to EU summit - The Guardian

Stocks rally further in run-up to EU summit - The Guardian


AP Business Writer= MOSCOW (AP) — Global stocks advanced Tuesday ahead of a summit of European leaders that's expected to be dominated by calls to boost economic growth across the continent, though ongoing worries over the upcoming Greek election kept the rally in check.

Europe remains the focus of attention across all financial markets in the run-up to the June 17 Greek election that could go a long way to determining the country's membership of the euro as well as the future of the single currency zone.

On Wednesday, the leaders of the 27 European Union countries will hold an informal meeting in Brussels. The summit is expected to focus on ways to kick start the region's faltering economy.

"There have been lots of comments from various officials regarding the wish of the EU for Greece to remain in the eurozone, the need to agree upon a growth agenda to go alongside the austerity agenda and of course on common euro bonds," said Gary Jenkins, managing director of Swordfish Research.

With that backdrop, stocks have recovered this week after a parlous few sessions.

In Europe, France's CAC-40 was 1.3 percent higher at 3,065.82, while Germany's DAX rose 1.2 percent to 6,404.32. The FTSE 100 index of leading British shares was up 1.2 percent at 5,367.43, helped by figures showing that the annual inflation rate dropped to 3 percent in April, its lowest level since February 2010. The International Monetary Fund, however, issued a tough assessment of U.K. economic policy on Tuesday, urging authorities to do more to boost demand in the economy.

In Greece, political uncertainty and a gloomy prediction by the Organization for Economic Cooperation and Development pushed shares on the Athens Stock Exchange to their lowest level in 22 years on Tuesday, 1.8 percent down at 534.55.

Wall Street had a mixed opening after Monday's solid advance. The Dow Jones industrial average was slightly down — 0.16 percent — at 12,470, while S&P 500 added 0.6 percent at 1,324.79.

Europe's debt crisis as well as developments in Greece has the potential to knock the rebound in sentiment witnessed so far this week.

"Markets are by no means out of the woods, however, and much uncertainty will remain ahead of Greece'e election in just less than a month," said Mitul Kotecha, head of global strategy at Credit Agricole CIB.

If a new government fails to follow through with an austerity plan agreed to by prior Greek leadership, the country could lose a promised multibillion euro bailout from international lenders. Greece's default could send shockwaves throughout Europe. The OECD's top economist warned on Tuesday that the 17-country eurozone risks falling into a "severe recession" and called on governments and Europe's central bank to act quickly to stop the slowdown spilling over into the global economy.

The organization now forecasts a longer and deeper contraction in the eurozone than in its November report, with the eurozone economy expected to shrink in 2012, and only manage a feeble recovery in 2013.

Earlier, Asian markets posted sizeable gains. Japan's Nikkei 225 index rose 1.1 percent to close 8,729.29 and Hong Kong's Hang Seng added 0.6 percent to 19,039.15. South Korea's Kospi climbed 1.6 percent to 1,828.69.

Hopes that China will announce new measures to boost growth also helped push shares higher. Investors were encouraged by weekend statements from Chinese Premier Wen Jiabao, who promised to spur the world's second-largest economy, a shift from previous rhetoric about curbing inflation.

In the oil markets, benchmark oil for June delivery was down 50 cents to $92.36 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.09 to settle at $92.57 in New York on Monday.

In currencies, the euro slipped to $1.2770 from $1.2793 late Monday in New York. The euro hit a four-month low against the dollar last Thursday. The dollar was up at 79.60 yen from 79.36 yen.


Pamela Sampson contributed to this report from Bangkok.

MacroSolve: Does Every Business Need a Mobile App? - Yahoo Finance

Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.

Fundamental company data provided by Capital IQ. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Morningstar, Inc.

Yahoo! - ABC News Network

Morning business round-up: Euro threat to global growth - BBC News

What made the business news in Asia and Europe this morning? Here's our daily business round-up:

The eurozone crisis is the single biggest threat to the global economy, according to the Organisation for Economic Co-operation and Development.

The 17 nations that use the euro will see their economies shrink 0.1% this year, before rebounding to 0.9% growth next year, the OECD predicts.

By contrast, the US economy will expand by 2.4% this year and 2.6% in 2013.

The OECD also seemed to back calls by some Europeans to combine spending cuts with measures to boost growth.

"Fiscal consolidation and structural measures must proceed hand in hand, to make the adjustment process as growth-friendly as possible," the OECD said.

The International Monetary Fund (IMF) has said the UK's continuing economic weakness means authorities should consider measures to boost growth, including more quantitative easing (QE) and even cutting interest rates.

Its annual look at the UK economy endorsed the government's deficit cutting plan, saying it was essential.

But it said that while monetary stimulus measures taken by the Bank of England had helped the economy, it remained flat.

The IMF also warned that there were many downside risks to the UK economy, not least from events within the eurozone.

Almost 13% of young people worldwide are out of work, and their situation is unlikely to improve for four years, a report by the International Labour Organization (ILO) says.

Many skilled young people are being forced into part-time and unskilled work, the report says.

It warns of a "crisis", with more than six million people so disillusioned they have given up looking for work.

The ILO wants governments to make job creation a priority.

UK mobile phone giant Vodafone has reported flat profits after being hit by the economic downturn in Europe.

The company said it had written down the value of its assets in Italy, Spain, Portugal and Greece by £4bn.

It said the region's economic weakness, together with a tough regulatory environment, had made revenue growth in Europe "increasingly challenging".

Pre-tax profits for the year to 31 March were £9.549bn, up 0.5% from £9.498bn the year before.

Business headlines

Qantas has said it will split its international and domestic operations into two separate divisions as it looks to restructure its business.

The firm said the split was aimed at cutting costs and streamlining its efforts to make its international operations profitable.

Its international division has been making a loss amid volatile fuel prices and falling demand.

On Monday, the firm cut 500 jobs in its maintenance and engineering division.

Nissan's upscale car brand Infiniti has established its global headquarters in Hong Kong as it looks to increase car sales in China.

Nissan boss Carlos Ghosn said the move to the southern Chinese city would help Infiniti boost its share of the luxury car market to 10% from 3% currently.

Last year, it sold just under 20,000 units in China, which is now the world's largest car market, and it expects Infiniti sales in the country to increase by 50% in 2012.

Nissan is embarking on an ambitious expansion of its Infiniti brand and said the marque would soon be available in 70 countries, up from 45 currently.

As Egypt prepares to go to the polls the latest Business Daily podcast considers the impact of the Arab Spring on the wider region, and looks at what sort of international assistance the Arab world can now expect.

Your next app: what business does for society - The Guardian

To date, transparency policy has focused mainly on data held by public authorities or the impact of transparency on public services. But that focus is developing, and nothing illustrates this better than an exciting new collaboration between government and business.

In February, at the Business in the Community conference, the prime minister announced the open business forum, a working group where business and government would come together to help make the wider contribution of business to society both more apparent and more transparent.

He said this social contribution was under-appreciated, and that transparency could do much to change perceptions and help consumers make more informed decisions. As an example of what the future might bring, he invited his audience to imagine an app that would enable the consumer to choose a supermarket not just on its prices but on its values, or a mobile phone supplier not just on tariffs but on the level of carbon emissions.

Such an app could be closer than you think. Some of Britain's leading companies are among the 20 or so participants in the open business forum. They are collaborating to see if they can develop accessible and comparable measures of, for example, business support for their workforces, their contribution to local communities and their impact on the environment.

Of course, measuring and reporting these things is not a new idea. There are a number of highly developed frameworks for reporting emissions of greenhouse gases or aspects of employee welfare. What would not be so familiar is presenting meaningful indicators in a way that is easily intelligible to the layperson and immediately available on their smartphones.

Accessibility does not stop there. It is one thing for large corporates with sophisticated internal data-gathering systems to contribute information that they are already collecting for other purposes – it is quite another for small or medium-sized enterprises (SMEs) to do so. How can we help these businesses use this facility and tell the story of the contribution they are making to their communities?

The Open Business Forum has ideas for this, too. As long as the methods that are developed rely on data that is accessible within a business, then it should be possible to create a free app or online toolkit that will allow an SME easily to assemble the relevant data, so that the measures of its social contribution can be made available, too.

SMEs can also benefit from the development of Trading for Good, announced by the prime minister at the same time as the Open Business Forum. This will allow SMEs to showcase online, free of charge, the good work they do in their community – and gain accreditation for doing so.

The work of the Open Business Forum is in its infancy, but the participants are keen to move it on quickly. Look out for a report on its progress, which it aims to issue during the summer.

This article is published by Guardian Professional. Join the Guardian Public Leaders Network free to receive regular emails on the issues at the top of the professional agenda.

Qantas to separate international business in turnaround plan - Reuters UK

SYDNEY | Tue May 22, 2012 10:49am BST

SYDNEY (Reuters) - Qantas Airways is separating its loss-making international business from its profitable domestic operations, and assigning the boss of its frequent-flyer division, the airline's No.2 money spinner, to turn around the ailing global segment.

The restructuring is meant to show Qantas unions, the government and other stakeholders that Australia's top airline needs to fix the bleeding international operations which have been hit by rising costs and weak travel demand, analysts said.

Qantas's (QAN.AX) plans to cut costs, which are nearly a third more than peers in low-cost Asia, have been opposed by unions who have repeatedly called it a very profitable organisation. The airline is emerging from a bruising industrial dispute that led to grounding of the entire fleet for close to two days last year.

"This will now clearly show the strength of the domestic business and the weakness of the international business," said David Liu, head of research at ATI Asset Management, which owns Qantas shares.

"It gives the airline the room to fix it. I don't think this is about the sale or spin off of the unit."

Qantas in August revealed a A$200 million loss suffered by the international business, shocking investors and showing the extent to which it was milking the domestic business, which is facing rising competition from rival Virgin Australia (VAH.AX).

Chief Executive Alan Joyce's preferred plan to revive the international business was to float a new Asian premium airline joint venture, but talks have gone nowhere. In March it ended talks with Malaysian Airlines (MASM.KL).

As a result Joyce has moved to split the organisation.

As part of a five-year turnaround plan, the international and domestic businesses will have separate chief executives and operational and commercial plans, the carrier said in a stock exchange filing.

Simon Hickey, CEO for its frequent flyer programme, was named as CEO of Qantas International. The Qantas Frequent Flyer division reported underlying earnings before interest and tax EBIT.L of A$119 million in the half-year ended December, accounting for more than 40 percent of the group's results.

Lyell Strambi, group executive for airline operations, was named as CEO for domestic operations.

While the two business will have separate financial results, Qantas will remain a single entity.

Bruce Buchanan, CEO of its low-cost offshoot JetStar will leave in six months. Buchanan is credited with building the JetStar brand across Asia. JetStar was the No. 1 contributor to Qantas's first-half EBIT, netting A$147 million.

A spin off or a sale of the international unit is viewed as unlikely by analysts, given its key role as a passenger feeder to the domestic operations. A sale or a significant stake sale in the business would also need changes to legislation which is designed to protect Qantas' position as an Australian airline.


Qantas announced an underlying profit before tax of A$552 million for the 2010/11 financial year. Then, it also disclosed the losses at the international operations and said it expected to continue losing money.

"Qantas International, a great airline with a rich history, is loss-making and does not deliver sustainable returns," Chief Executive Joyce said in the statement.

"However, we are committed to turning it around through the five-year strategy we announced last year, based on flying to global gateways, deeper alliances, smart investment in product and disciplined capital management."

RBS analyst Mark Williams called the move a sensible approach but said the challenge was to ensure the maintenance of the strong level of integration between the domestic and international businesses that is driving profits now.


Carriers across the world are being pushed to cut costs and delay capital expenditure. Qantas is not alone - Singapore Airlines (SIAL.SI) swung to an unexpected Q4 loss and warned yields would stay weak.

Qantas said on Monday it planned to cut 500 jobs on top a similar number flagged in February to save up to A$100 million annually.

It is consolidating engineering, maintenance and ground operation function and also plans to sell some catering centres. It has also cut A$900 million in capital expenditure.

Qantas shares, which have fallen over a tenth so far in May to their lowest level in seven months, perked up in late trade to end 2.8 percent higher at A$1.47. The broader market .AXJO ended 1.2 percent higher.

(Editing by Muralikumar Anantharaman)

REFILE-EMERGING MARKETS-Latam stocks slump on fears of Greek exit - Reuters UK

Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.

NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

US STOCKS-Wall St up on banks, housing data; Facebook dips - Reuters

Tue May 22, 2012 10:44am EDT

* Facebook shares hit again; off 20 pct from IPO price

* U.S. April existing home sales rose 3.4 pct

* Fitch cuts Japan debt rating, outlook negative

* Stocks up: Dow 0.4 pct, S&P 0.8 pct, Nasdaq 0.5 pct

By Angela Moon

NEW YORK, May 22 (Reuters) - U.S. stocks rose on Tuesday, led by financial and housing shares, after U.S. home resales rose in April to their highest annual rate in nearly two years in another sign that the housing market may be on the road to recovery.

But gains were capped as Facebook shares lost about 20 percent of the online social network's IPO price in just two days following its market debut, and as a downgrade on Japan from Fitch heightened concerns about the global economic growth.

The S&P 500 financial sector index was up 1.6 percent. Bank of America Corp rose 3.4 percent to $7.06 and JPMorgan gained 4.2 percent to $33.87. American Express Co rose 1.2 percent to $57.00.

U.S. home resales rose strongly in April and a falloff in foreclosures pushed prices higher, hopeful signs about the pace of recovery in the still-struggling housing sector. STORY: TABLE

"The market is looking for some good news and housing looks as though it's bottoming out here... After some weak news on the industrial side last week the housing is balancing that out a bit," said Subodh Kumar, chief investment strategist at Subodh Kumar & Associates in Toronto.

Shares of Facebook Inc fell again at the open as doubts about the company's valuation increased after Reuters reported that underwriters cut their revenue forecasts for the social networking site shortly before the IPO.

Facebook's shares hit a low of $30.98 earlier on Tuesday, a steep decline from its Friday IPO price of $38 a share.

The Dow Jones industrial average was up 56.53 points, or 0.45 percent, at 12,561.01. The Standard & Poor's 500 Index was up 10.52 points, or 0.80 percent, at 1,326.51. The Nasdaq Composite Index was up 15.76 points, or 0.55 percent, at 2,862.97.

How to start a business continuity program - CIO UK

This article was originally published in CSO Magazine in the US

Sometimes you pull the short straw.

That's how one chief security officer (CSO) felt when his former employer asked him to create a formal business continuity (BC) program for a few years ago.

"It's hard, right?" says the CSO, who worked for a technology company at the time and asked to remain anonymous. "Any division could fall down, plants could fall down.

Some divisions were good and some weren't. The top brass cared about the 20 percent that made 80 percent of the money and making sure that would continue if something happened."

[Also in this special report on BC/DR: 4 critical trends in IT business continuity | Disaster recovery is a success just waiting to happen]

One division in particular that kept him up at night was the company's 10,000-employee Philippine operations. As the CSO saw it, this locale was highly vulnerable to at least four different kinds of potential disruptions: volcanoes, earthquakes, tsunamis and political unrest.

And, that's just for starters, ignoring the frequent outages and supply interruptions that characterize business in any less-developed country.

This CSO quickly realized that the heart of business continuity is ensuring that the company can keep making money after a disaster.

So he identified the functions critical to that ability and planned out how to keep them going after a spectrum of possible interruptions.

Then he did something that many might envy: He handed off the business continuity function to a talented underling.

If you can't offload the task entirely, you can at least benefit from the lessons learned by those who've been in the BC trenches.

Business continuity is a broad discipline, encompassing both disaster recovery for data and the activities that ensure business will carry on (or be restored quickly) in the case of an adverse or catastrophic event.

Therefore, BC cuts across divisions and incorporates people, processes and technology.

Keep in mind that virtually every company approaches business continuity differently, so any one lesson may not apply to you.

Still, it's worthwhile to examine the common mistakes, erroneous mind-sets and instructive anecdotes of those who have already wrestled with formulating a business continuity program.

Here are the top nine BC lessons from CSOs and experts:

Lesson 1: Business continuity is its own discipline; treat it that way.
Companies commonly view business continuity as synonymous with another discipline, which is one reason this task not infrequently gets dropped on security leaders.

But this is a mistake, because this kind of thinking leads to inadequate planning, according to Denis Goulet, a certified BC consultant and trainer and a principal at ContinuityLink. "Business continuity is not security, it's not emergency management, it's not risk management," says Goulet.

In fact, professionals can earn a growing number of business continuity certifications from organizations including DRI International, BCM Institute, Business Continuity Institute, Business Resilience Certification Consortium International, the Institute for Business Continuity Training and the National Institute for Business Continuity Management.

To distinguish between business continuity and risk management, think of risk management as identifying the probability or cause of an adverse event and business continuity as considering the impact of the event, Goulet says.

"We're interested in business interruption, the ability to do business is not there anymore. so what will it take to get back up and running so you don't lose your reputation, customers or revenue?"

Put another way, business continuity takes over where risk management leaves off, Goulet says.

So, let's say you assume under risk management that the probability of an earthquake leveling your Manhattan office building is near zero.

Under risk management, then, you decide not to spend the money it would take to put in place another office location as backup.

Business continuity says, "The worst has happened, despite its low probability; now what are we doing to do about it?" And the solution there could be something as simple as having employees work at home.

"There is always residual risk left over from risk management," says Goulet. BC steps in to fill that gap.

Lesson 2: The process is collaborative, but ultimately the CEO owns it.
One problematic mind-set is that many companies cling to is that the CSO can be the owner of business continuity planning and testing.

BC is by its nature a collaborative effort, and the CEO is its ultimate owner.

"As a practical matter, it's a variety of disciplines, such as IT, security, HR, line of business, that can be tasked with creating a formal BC program," says Edward Brown, president and CEO of BC consultancy KetchConsulting.

The CEO heads the business, therefore it is his or her duty to ensure it will continue, come what may. Working on BC planning with senior management underlines its importance to the organization, says Goulet.

"I've trained people who were more technical, less technical, more senior, less senior. There is no predefined path. Business continuity has grown out of different places in the company, for better or worse," he says.

The key things to remember: Get iron-clad executive support and collaborate with other departments.

Lesson 3: Be thorough in your business impact analysis.
Veterans of business continuity planning have learned the hard way that the cornerstone of BC planning (and therefore one of the first things that needs to be done when formalizing a BC program) is a business impact analysis (BIA).

In this exercise, you sit down with a cross-disciplinary team, examine everything your company does, and identify your critical business activities. The essential question is: How much time could this function be suspended for before we would go out of business?

"Some functions can stop for one week, some for one hour, some for one month," says Goulet. From there, you will define a solution (which may be both technical and non-technical) that will restart the function within the period you've decided on. That is called your recovery-time objective, or RTO.

A business impact analysis will identify the RTO for each business function in your organization.

Sometimes the results of the BIA can be surprising. For example, a whiskey maker's most critical function might turn out to be distribution, ensuring the product gets onto store shelves, as opposed to production, which could cease for quite a long time before the customers or marketplace would know anything was wrong.

The key lesson here is not to try to take a shortcut through the process. Many executives think they have a gut feeling for what is most important without examining everything.

That's not right, says Goulet. "You don't start by identifying the top three activities with senior management. You might leave out essential parts of the business that are not easily visible from the top."

For example, you might think that sales would be one of the most critical functions at any company, since no one can survive without selling things. But it turns out that's probably not the case, at least from a business continuity standpoint.

"The sales force gets the money in. They create growth by selling to new customers. One thing you don't want to deal with [immediately] after a disaster is a new customer. For a while, you want to focus on keeping the existing customers instead," says Goulet.

Lesson 4: Focus on business value, not assets or functions.
Karen Avery's perspective on business continuity has changed quite a bit since her time as CISO for GE Capital. At the time, she made decisions based on what it would take to keep a particular asset (like a building) or function (like accounting) up and running.

Now, as managing director at consultancy Marsh Business Resiliency Solutions, she takes a value-based approach to determining BC priorities.

With the old approach, she would start her planning by looking at a building or technology asset or a function in, for example, marketing or finance.

But it's much more effective, she says, to start with how the organization creates value in the marketplace.

"Go from a revenue perspective, and then look at the value chains that support that revenue. The functions will align to it, helping you quickly identify vulnerability throughout the value chain," Avery says.

Lesson 5: Don't go it alone.
Dennis Dayman can sum up the best lesson he has learned about business continuity in one sentence: Self-assessments are worthless.

As part of his company's annual review of its BC plans, he often had the uncomfortable feeling that the company was missing something.

"No one wants to talk about their own faults and vulnerabilities," says Dayman, CSO of Eloqua, a software-as-a-service vendor.

"Now we have a third party, TRUSTe, come in and say what we missed." As a volunteer firefighter who responds to dozens of emergency calls in his town every year, Dayman knows all too well that disasters happen and can ruin companies, not to mention lives.

As he learned, the best way to avoid myopia in your BC planning is to get third parties involved. (Also see How to evaluate BCDR consultants.)

Lesson 6: Beware the ROI trap.
Another commonly held belief is that business continuity is an investment like any other and can be cost-justified just like all other investments.

But Goulet argues that enterprises need to let go of this damaging idea. BC should be viewed as an expense and a cost of doing business.

In his view, that is one glaring distinction between BC and its sister discipline, risk management, which mitigates risk based on the cost of the solution in light of the probable damage.

Risk management weighs those choices, while business continuity says, "We know it's remote, but we need to plan for the worst-case scenario."

"ROI is a trap," says Goulet. "Everyone struggles to find something to say to the finance people, but that's a trap. Business continuity is part of the cost of doing business. We won't throw millions at this if we don't have to, but if we have to, we will."

But BC is not about unlimited spending on an unlikely outcome. It is about spending whatever is necessary to allow the company to survive after an adverse event. "If you want a cheap solution, don't do anything," Goulet says.

Ignoring ROI can be a hard pill to swallow for management, especially if they're rooted in the risk management world, where everything is probability- and return-based.

If you are stuck with this mind-set, Avery advises that you use modeling to quantify the value of the function. "Companies get stuck because they go through a process, and they have all these solutions at all these price points and they can't justify the investment," she says.

"If you take the value-based approach and embed some analytics, you can model the exposure versus the return on risk investment. Then you can justify the expense to your CEO."

First, though, do your best to convince management that BC is a cost of doing business.

Lesson 7: Build in some flexibility.
While it makes sense to standardize BC plans as much as possible, it's just as important to allow for some flexibility for local distinctions, according to John South, CSO for Heartland Payment Systems.

"We look at business continuity as a distributed function, with responsibilities shared by regional operations managers," he says.

Heartland issues a standard format for business continuity that it expects all its assorted business units to adopt when developing their business continuity plans, but it knows that those units also need the flexibility to define their plans within the parameters of their local operation, South explains.

To give one example, when a local operation owns its own facilities, it might be facing a different set of BC concerns than a unit that leases its building, even though they're part of the same company.

Lesson 8: Show clients your plans.
CSOs must realize that business continuity is expanding beyond the four walls of the enterprise. Increasingly, clients and supply chain partners want to know about your business continuity plans.

This makes sense, as a company is only as strong as the weakest link in its supply chain. Exchanging BC plans is becoming part of doing business and can make a competitive difference.

Becker and Poliakoff, a law firm, has over a dozen offices in Florida and several more in other states, plus one in Europe. Ari Solomon, director of IT, finds that clients can help with BC planning by delineating their priorities.

"They want to know how they will get in touch with the attorneys if there is an outage," he says. In a disaster, "they really don't care so much about getting documents out, as long as they can communicate with their attorney."

And given that the firm's main office is located in southern Florida, outages are not uncommon. "What other people call a disaster event, I call a weekday," Solomon says.

"Hurricanes always come here; it's like we're just sitting here waiting for them to happen. I don't plan for disaster, I plan for the normal reality of life."

Lesson 9: Make sure everyone knows what to do.
A quick, no-cost way of determining whether your business continuity discussions are gaining traction is to have someone ask your CEO where employees would go if their office were reduced to rubble.

"If they say, 'I would probably work from home,' that's a bad sign," says Brown. "You need to say, 'According to my plan, everyone would work from home.' If they say 'probably' or 'maybe,' it isn't written down, and it doesn't exist."

Maybe you have not yet been asked to head up business continuity planning, but once you've gotten the call, it's imperative to have a foundation in place to do a creditable job. Your company's future may be at stake.

Pic: Fruitnet cc2.0

Bank stocks hurt after surprise $2B JPMorgan loss - Yahoo Finance

Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.

Fundamental company data provided by Capital IQ. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Morningstar, Inc.

Yahoo! - ABC News Network

World stocks fall amid political turmoil in Greece - Yahoo Finance

Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.

Fundamental company data provided by Capital IQ. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Morningstar, Inc.

Yahoo! - ABC News Network

No comments: