Saturday, July 2, 2011

July 2, 2011

Dear Kids,
   There is a very common saying in Chinese that "Poverty and Sickness are come together".  During the recession in USA, there are so many people losing the jobs and businesses.  They became very depressed because of losing the things that they never expected to loss in their whole life.  One of my clients who had been running a night club and banquet businesses for 35 years.  They had loss the businesses and together with their million houses of parents which was not including his own million dollar home in a nice area.  The reason why he loss his businesses because he had no judgment of expansion for the business which he had been depending on his staff and the professional such as lawyers, CPA.  If you are the boss, you need to make your own judgment and he was listening to his lawyer to develop a hotel with zero down payment and ending up pouring over 2 million from their equity of their house with other equity what they had to keep the business breaking even.  What a sad story of a hard working business man's kid ruin the business or the castle which had been built by his parents in 35 years.  His kid never goes to school and they like to enjoy life such as party etc.  Business world is like a battle if you don't upgrade yourself, you will out of the game very soon in any of the business.  Now the kid was hired back as a store keeper for 2 years as a contractor because the company doesn't want to pay the benefit to him for a long term after he introducing all the customers to the new owner for the new management.  After his business failed, his sister was so upset and kill herself by taking the sleeping pills.  His mother was passed away after 3 months later due to the cancer.  He and father are living in a town home with contract for deed which means that he bought a house without checking the credit by paying a little higher price and interest than ordinary people.  I sold his hotel 2 years ago and trying to save his financial crisis, however, the debt was too deep to save.  He gave back the property to the bank which is know as "Deed in Lieu" without any contest of fighting.  This is one of the sad story of the business men for today's market.  His name is Dan Hall who Wesley knew his name for a long time.  Finally, my company filed the lawsuit to him and the collection agency because he owed our company $50,000 with the outstanding commission but he can only returned us 5000 before filing the bankruptcy.  When he was asking me what will you do if he did not repay my money.  I told him right away that we will sue you according to the company policy because in the business world there is no exception if people owing you the money.  In the business world, when he signed the contract, he will honor to it unless he filed bankruptcy.  Signing a contract is the most important thing in any of the business which same as the mortgage documents when you committed to buy a house for the long term.  Dan Hall loss his million dollars house because he signed a contract for installing to change all the windows in the house that causing him losing the house because of unpaid balance of 70,000.  
   To avoid all the mistake of "Poverty and Sickness" issues in anytime.  You need to keep yourself alert all the time especially in the recession time.  Reducing all the unnecessary expanse to avoid heavy debt issues.  Never buy or enjoy something that you can't afford if your income level doesn't not reach that level.  Over expansion in business or over spending in personal life are not wise in any economy time.  A lot of people are driving nice cars when the time is good and the car was towed away by the car dealer when the time is bad.  It is a joke.  Watch your budget all the time and you need to be very careful because there are so many attraction in this world.  Some kids are even getting into drug business because they are expecting to live in a life which they couldn't afford, therefore, they need to find a way to earn the quick money to get into this level because they do not have education or skill to do it.  Sooner of later, if you know or get along with these people, you will part of the gangsters without knowing what happened.  Due to the high attraction in the big cities like NY, LA,HK; a lot of kids became a gangsters by doing unlawful things and ending up staying in jail for his or her life.  There is a lady who is an excellent business lender in HK was sentenced to jail due to committed crime relating to the public company stock exchange.  Crime rate is in all levels, therefore, be smart and alert to avoid unnecessary damage.  Knowing a right people are very important because he or her will help you in a right direction such as they will tell you what is the right thing to do because most of the people will never tell you what to do unless he or her concerns about your future otherwise, they will never tell you anything because your things will have nothing with him instead of hurting the ordinary friend's relationship.   In most of the cases, there will send the ugly emails to oppose what you tell him or her.  There is another famous Chinese saying that "people who is making the mistake will never see his or her mistake and the outsiders can see very clearly the mistake what they are making".  If the people who can understand the emails or comment what the other people sent to comment, he or her will be success because someone gave he or her a medicine to cure the cancer which he or her never will be aware of.  However, 99.9% of the people can appreciate the comment instead of opposing it by deleting the emails instead of digest the comments and improving yourself.  Therefore, there are a lot of unsuccessful people than the successful people.  I truly believe that there are so many levels in the human beings, you need to classify which level you would like to stay with your friends and relatives as well.  
   The last thing is to keep a good health in order to maintain a good level of energy to work.  Without a good health, you will be the big loser comparing the rest of the world.  One of the example is my uncle who loss the health in university by lifting the heavy weight.  In the olden days, the students can smoke in the school which affecting a lot of TB diseases for the young men at that time.  Therefore, you need to watch your ability when you do the exercise so be alert.  

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