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I think it was around the signs are everywhere.
Except here as he has an apple now and I don't materials into the recession and Americans are still suffering.
The effects of this economy are being played out in every area of our lives on big things like the way we work to the way money affects our personal relationships.
Even the way we observe religion.
We're looking at the recessions impact this hour we begin with.
Outlook we consider the face of this recession the -- -- -- -- is -- the CEO north Jersey community bank.
Of north Jersey he is with a tape -- -- frank -- -- well thought out very well how is the community Bellamy then I want talk about that that second segment of the industry how is your bank.
Doing right now -- this recession and pull out of this recession.
Barbara is doing very well and actually.
Parts of the recession have actually been good for our bank we've been taking a very large slice away from.
Our national competitors who have just.
Stop lending to anyone on any for any reason.
So we grew our balance sheet over 35% last year we grew our loans about 36%.
So this is that this actually has been good for Austin it's -- 2009 was our most profitable year ever.
And but all that being said there's a lot of stress -- -- -- -- -- and people have a hard time qualifying for loans.
And and as we look around today.
It's not that community banks in general don't want to make loans.
Is that demand is really slack.
People they don't have jobs it respectable you know why they don't have a job.
And I feel good about going to buy a house of additional their home take -- vacation or doing anything -- hit you -- loans go from 93 million to 3939.
You get on.
We went up -- right.
Right I'm sorry for the front right -- and you if you really can't Ariana Huffington going -- -- saying boycott the big banks go patronize your small community that and that's been happening and hasn't been helping it's absolutely been helping and that's been happening people very frustrated with the large institutions don't really care about them right.
And are much more interest in -- -- Their money off the -- -- you know or off the government's balance -- you know borrowing for zero and buying treasury securities.
That's a risk free business but really doesn't help the economy at all it helps those banks but will not help the economy.
How much he -- like ours banks like north Jersey community bank we have to actually taking deposits from our community and got to make loans and our communities are we don't make -- -- because what that said.
How much have you changed your underwriting standards both from the edit individual standpoint small business standpoint -- -- really make changes and you know we have not since our bank was founded we've always had.
Fairly conservative underwriting standards we always make sure that people can pay a -- back that they talk.
And that's important and so.
We we may have been a little more conservative than every other bank when things were rip roaring going great and everybody could get along at 14 -- a got a -- We were little more conservative but in these days I think consistency is very important to our customers of the customer.
Came to us three years ago would qualify for the same home today and I think that's very important and that's where the larger banks I think for sure.
They were there to give you all the money you wanted when when when you know when the economy would have been but today they won't give you any money under any circumstances and I think that's I think what.
Other things that we've seen changed in just about everything is that I want value for my dollar now.
So whether I make a loan to you or JPMorgan or whoever is gonna get my money.
I finally got home my -- -- you're going to be you know there's going to be that personal touch and I think.
That's probably what US have an edge over if I'm not -- from -- From a -- community banks -- world renowned for customers -- race and so you come into our bank to -- the north Jersey community banks some familiar name we have a coffee bar.
People are gonna help you they know where you live they -- where you shop they.
They that they know we went to school -- being people who genuinely interest they have in their customer that's the business model of the community bank.
You don't get that with the national players as much as they say they try to be in the community you're never gonna get that from from a large national player.
What about foreclosures we talk about that all the time banks not for closing on property because they don't want to hold the property and want to do everything they can keep their customers in the property.
How are you wrestling with that said.
Fortunately we don't have a lot of that situation going on you know our our nonperforming loans are extremely low for any bank can actually in the country.
But where those situations do occur we are certainly looking to help the borrower and not just you know -- as the potter and say we're gonna take your house.
So so I think it's in everyone's best interest that we try to work those situations out.
-- and help people.
Take to be able to stay either in their homes or their businesses or you know whatever it takes to the extent that they can.
What -- -- seeing it in regard today even including the big players at a Bank of America while it's obviously.
A tidal wave that still on its way.
-- and I think you're -- see foreclosures continue to rise.
The employment report today although was.
Good it's not and -- So I don't see that changing what's going on around the country.
And there's still a lot of people who are totally on the water in their existing loans.
An and I don't know how -- gonna work out -- that I mean that's that's a real issue here your mortgages.
20% more than the value of your existing home not a whole lot of incentive fees stay there and and and keeping you there doesn't really help anybody.
So are you doing loan modifications.
We haven't done enough -- -- and what not gotten us and we wouldn't we haven't we haven't had the need to again.
You know we never made a sub prime loans so if you came to us for mortgage two years ago or three years ago prior to the sub prime mess.
You would have had to qualify you have to have the cash flow to support alone and we probably wouldn't want it any more than 80% of the value of your home so what do you see are you seeing people come back for loans -- -- coming back for refinancings.
What kind of actually we are seeing refinancings interest rates are at all time low -- -- -- this is a great time to refinance your home.
But in a lot in some cases in a lot of cases but in some cases are fun people come close to refinance to take advantage of the race.
But the value was not there so they can't get the money that they need to do -- refine its -- -- and simple deposits.
Leave because the people aren't saving that much money anymore and they can't say because -- really not getting anything in terms of the simple deposits are you see I don't act and then -- I don't actually see that I see people are saving money.
People not spending people are very fearful of the economy that's and I think that's a problem today confidence is not high.
So people taking whatever money that they do have -- -- putting it into their savings account.
People also don't trust the markets they don't trust the bond markets -- trust the stock markets they don't trust anything.
Did so they're not buying real -- they're not buying anything and they're keeping their money in there and you know.
As opposed to keep getting on the mattress they're coming at a community bank facility that's very small return on -- FDIC guarantee deposit is better than risking any loss at army now better than any loss that's correct I think now.
Thanks frankly is very welcome.
Really good things come out of Jersey Chris got to thank you thanks.
-- north -- community bank -- all right north Jersey community bank bank settlements and but what used to be the driver of our economy.
Has become arm -- as we just heard -- spender during their session.
Lewis Payne senior vice president of retail marketing consultancy JFK custom researched in North America.
Joins us from Minneapolis to talk about consumer spending and well how it has clearly changed hasn't it.
Yes it has quite a bit.
As we see this really is a perfect storm of combination of the recession as well those advances in technology.
Many people don't realize -- we really recently -- case completed his studies.
That shows that over 13 of American households have had someone in the -- lose a job.
So that's a lot -- tactful than simply a 10% unemployment rate.
As a result consumers are changing they're they're purchasing habits and then moving down 82% of Clinton suffered.
I was gonna say 72%.
Of consumers that we surveyed said that they were buying more efficiently and effectively than they ever have before.
That brings my question Lewis what does that mean buying more -- -- doesn't necessarily mean just buying less expensively does it.
Now that's a really good really good point because what we've seen as with the unprecedented amount of information that's available to consumers.
They're really searching the web.
More than 60% say that they're using the Internet -- much more than they had even a year ago.
-- to seek out what is the fast combination of features.
Price and interest slowing enough you mentioned this earlier assurance war median follow up service that they can get for their dollars so it's causing unusual -- -- -- Well -- -- have its Day-Lewis after it's all said and done.
Economy gets better I -- getting paid a little bit more and I still gonna do this go discount shopping look for warranties and things like that.
I believe that some of -- you know what it very any recession the sales of private label products increase.
And then after recessions it's been proven before.
They still increased but some consumers fall back to their brand.
Brands that they'd like.
However I think the one thing -- changed and will not change what will not.
Go back to being the same and that's the total retail equation.
People are using the Internet.
To investigate what they want to purchase whereas in the past that would go to a store iTunes so there's less loyalty.
To retail chains there -- less loyalty to brands.
And people have divided the on investigation.
Of what they want to purchase from them deciding where's the best place to get the best price and the best warranty.
So that that's not gonna change and it's really gonna challenge the the retail system and marketing in the U us and in ways that I think are going to be very creative and actually -- very positive for consumers.
Yeah -- that now -- the bottom line the and so those are gonna say the bottom line on it is the power has shifted.
From the marketers and the retailers to consumers and there is for -- -- less loyalty than there ever has been before.
With that said.
-- with the product side and looking just at the channel side ABC dollar stores Dollar General dollar tree explode in this recession.
-- their mindset I could just get people in the door to show how good a look the retail experience they have here.
They'll come back even if they don't need to come back -- -- continue.
Absolutely does matter fact that's not only true of from what we see if only true about a dollar stores the people that say made in your shopping at target -- should transitioning down to Wal-Mart.
So there's a great opportunity for all of these retailers.
They are trying to do everything they can to make sure that the offerings they have -- gonna keep those consumers coming back to them on the after this is over.
So where do we stand now does that mean high end is toast does that mean that they too will start discounting.
Because really there's a whole dynamic going on in that industry is well.
Oh absolutely and as a matter fact.
What's -- thing from -- -- the study that we've done in the future purchasing.
Is that about 13 of households say that actually.
They're actually doing better than they were a year ago so there's still always that opportunity -- that need for higher end products but I'd say the key -- this is.
If you look on the if you look on the web if you look at say gilt dot com for example.
Women can buy very high end fashion goods.
Unbelievable -- low prices.
And with you be able we'll -- actually even at your desk at work or home at night.
You can make that what make the best decisions and find the best prices for the best friends even.
The explosion at a popular there.
Go -- Lewis while Costco cost go looks really good and I I'd say that the other the other trick is happening is that people are.
You know we're -- -- cases were people are buying products.
And even their private label products and then going out and selling them on other sites.
So hold channel -- she was really become.
A real challenge for both marketers and and retailers.
I love cost there's -- my cabinet 100 barrels of -- neighboring house at one time.
That would literally took it Libreville in my entire house or apartment and you know what's crazy is like my hand goes -- -- it -- when -- down to like 95 and a bit of a bit of Lewis thank you so much there.
And -- my pleasure.
-- -- -- -- -- Of retail marketing consultancy GFK research North America still ahead finding opportunity in this economy to businesses.
-- are benefiting from frugal customers.
Welcome back one of the first expenses people -- from their budgets I hate to say -- dining out.
But our next guest says he's been able to actually grow in this economy and -- he has Zain technical chairman and CEO of apple -- ink.
Owns 35 Applebee's restaurants.
Settings look and open -- -- just and that he -- is from New Jersey no stars in Jersey -- -- all the New York area New York area Westchester Rockland and you just I'm sorry it just open your 35 right.
Which was also Applebee's 2000.
Correct and it's in Harlem -- -- let's -- it's not in Westchester you know -- -- 125 street smack in the end of -- So you're you're number one -- actually it Applebee's number one stories this in the world is 42 street it's right around the corner from us -- -- that every -- and it's -- that's mine actually every all of.
-- in new York city of our hours as well as Westchester Rockland county.
Three under construction as I sit here -- and we're in we're actually right now doubling the front page on the 42 leading restaurant we took over the space next door yeah.
As I said OK now yesterday the talking to the CEO of stone called creamy ice cream place he said look.
You people aren't taking trips anyway -- taking cruises and they might be going to Disneyland but instead they're doing things closer -- -- they wanna spend time with the family so they come get -- -- minute experiencing the same thing.
They can't be taken these weeklong -- doesn't have enough money they still wanna go spend time -- the family and at least provides that I think I think.
Think consumers more.
More -- sophisticated anyways he's looking not necessarily just for bargains.
He's looking for.
The example I use with their people other kind of paid high -- to fly first class -- just a little bit -- what you're really paying for -- -- -- to be -- -- basically if you sit in the back of the plane they can ignore -- I say let's -- first class service.
For coach fare and in essence by that I mean we are the price value relationship always have been.
And what have -- been encountering this economies by bundling two for twenty.
Trio is not five dollars off there's nothing it's been five dollars off trying to be invented in the menu.
We just added six items that are under 550 calories -- are really good tasting not 550.
Calories we also have a Weight Watchers and but a part -- -- -- about twenty items that are part of Weight Watchers.
They did you you've got to be created got to be -- you got to give the consumer what.
They want within the parameters of the service and experience its experience of what they want.
If you do it.
-- -- in an Applebee's is for someone like me I have three kids and they're generally not allowed out much because they should be jailed there -- But I think -- Applebee's and they actually can be haven their well respected and it and we all work together because like you said.
I can -- some.
They -- their wherever they eat these days and it makes for a really nice night out do you find that though that's what you're seeing and that's really where we're gonna deeper than -- Couple years -- where we're gonna be for the next couple years is that consumers change at the consumer is looking for value.
But not as -- discounted value value would I be in the form of service could be -- -- of that.
Like you with your family in your children by the way I can't believe you have three children but that's another thing -- yeah.
Generally more than that they thought I was an on -- I would have said that.
It's -- 35 restaurants for you opening up a 36 the 37 isn't as tough.
You're not to partner in this environment and you want to open up your first it's a lot tougher isn't he -- without a doubt -- it certainly -- start with finance.
-- -- to start with raising money.
Now and start with developing a following in a brand what we do is we didn't every time we open and we -- -- -- some small degree and in build new people so we're we're known entity if you will.
We've been very fortunate.
In this environment to find the right sites beat LS values are there and to get construction costs way down and those people aren't working so there are opportunities that you want -- Seek them out look for them or you can just pull over on the side wait for the storm to pass.
Thing is it's taken a few more years and anybody anticipated and -- we're still when it.
I mean regardless of what the president says in that in the stock market it would have you I have not seen any change in our consumers for example.
It's not the appetizer in the entree in the desert and then when you -- -- your kids it might be the same way it's an entree or it's a desert.
Words the words having an appetizer stopping in for a beer in an appetizer but it's not the whole package it's and -- and I think that's that's that kind of paradigm shift in the consumers' habits is is probably -- that.
-- CNN and all the restaurants that even on the hi Anderson yeah.
You know as opposed to being just being able to order bar food -- I can order that at the table smaller portion right.
But I love that you're taking advantage of low construction costs Gooden retail space you're still opening you open for growth.
Four last year and four last year and you have three coming up right now under construct where then.
One is on Jamaica avenue in Jamaica queens.
One is in flushing queens.
And the third one that we are gonna open in about three weeks it's in the Atlantic terminal in Brooklyn right -- street from where the new stadium you know our city Ratner.
They images and improve right across street from there and I can actually throw fourth in the -- -- the cost almost as much as I said we're doubling the -- age at 42 street and any vegan that's where my baggage -- right.
Is as much is opening a restaurant anywhere else what are you seeing as far as people come and in looking for work are you be inundated with people saying look I need jobs yes and yes I met for give it actual statistic that.
That -- that we interviewed over 6000 people for 200 jobs in Harlem.
-- over 6000 we're right now as I sit here interviewing in the Atlantic turmoil we start about a month in advance interviewing.
And I think so far we've been reviewed about a thousand people and this -- for the everything.
-- -- -- -- -- I servers.
are you finding people going in there with college degrees and resounding yes -- that's who we're -- -- not really.
You know underemployed so this from from from felony arrests the lawyers -- And again.
You actually do great things a bit community up there -- you've even employ a lot of people you handling business to the area I mean your.
And the people must be throws are coming.
Well they've been the governor came to the opening up wherever Harlem restaurant solidity yet -- -- today's case in the -- -- -- India with the -- order if you don't come from Politico dot com.
I don't go to the political statement I think it -- -- good -- I didn't.
It I'm not going -- sorry -- great to see thanks -- thanks so much really good to see you guys as a tackle chairman and CEO of apple.
Metro incorporated walls people put off making large purchases like a new car.
Tracy to not repair shops have become one of the bright spots in this economy.
-- -- -- That's why didn't you -- I can't fix my own in my eyes I got four left hands I don't know what to do with them you couldn't hands.
It did a better tees or transition if you will to our next guest -- joints right -- Robert gross chairman and chief executive observe Monro Muffler Brake.
Joins us what Michelle thanks the year is not.
Hillary Clinton and that you have to get a moderate if your -- on this whole thing where bomb.
A lot you are buy new cars.
They're keeping their cars a little bit longer they want to fix them up we certainly know AutoZone has done very well some -- passed by employees and you're right along with that aren't you.
Yeah I think again the average age of the car currently is ten years they're -- over the next two and a half years.
The average age is gonna expand to twelve years old I don't know how different -- over repair work although the car gets.
The more repairs that are needed you couple that with the fact that people aren't buying new vehicles the old.
-- used to be sixteen million new car sales a year for six years straight.
Two years ago was thirteen million new car sales and last year was ten point four.
So a lot of new cars are not coming into the system which means people are repairing their old cars.
And we've seen over the last couple years today.
The deals to buy much better than deals -- I I least because I can't fix -- car so I know this.
But you -- coming grew by 7% last year same store sales still increasing he got sales in the third quarter up twenty on the swing 9%.
-- -- -- The -- comparable store sales are fabulous the last two years we run 7%.
Comparable store sales but the last nine years we've had positive comp store sales so.
We've been picking up businesses people.
You you know I heard Zain and you guys talking about value in trading down and people are trading down to lower priced and I think that's a permanent.
Shift if you think of the dealer charging you 12100 dollars for a brake job.
And the economy gets tougher so you say I'll try Monroe who can do that same work for 600 dollars.
When things get really good you're not inclined to go back and say are and have more money -- pay 12100 dollars for the next -- this.
-- -- service was this is gonna take personal bio oil and make mention and and -- 04 Monro Muffler Brake.
You're really benefiting from the dealer relationship with the customer and many other ways as well one of them is that we've -- dealerships close around the country -- he -- farther yet to go farther to get your car service at a dealership.
That benefits you because you you've got what 780 stores in nineteen states he might be just around the corner from -- the.
Yeah we have number one or number two market share and all our markets and that runs about five to 8% to tell you how fragmented the business -- but if a deal or those close.
Typically the next closest one is -- -- miles away.
In the first case we are a need purchased not a one purchase so you don't want to do this anyways convenience.
Value are important to you and when your dealership closes.
You're not looking to drive thirty miles away you want someone close by and -- us.
-- within five minutes -- your home or work offer better alternative a lot of cases to a lot of customers which.
Is why you see the comparable store sales going up but more importantly.
Our traffic is running up 4% in a tough yeah Pannemon so.
Your competitors then Pep Boys.
Mining team would show my neck in my do you think how do you differentiate differentiate yourself -- about two years ago when things got really tough in the marketplace.
We started focusing I'm value and for example we started offering an oil change and more.
Kept our oil change priced at twenty dollars.
You know because even with rising oil prices to get store traffic and well what we started doing in addition to that is a free for tire rotation.
To add value and make sure people are thinking in their car -- free break inspection.
All part of the twenty dollar bill so people would come in it gives us an opportunity to make a new customer where the most convenient anyways.
Build trust and prove to them.
When you're in high -- -- slow trust business and 45%.
Of the customers biggest concern.
Is getting ripped off.
Manning gets a lot easier to show people that you can be trusted rather than advertised because let me have heard those stories and believe them that we can -- -- -- oil change and they put like chocolate syrup and instead of.
Well you can't come out here in my -- even though because before you got a parking lot of but anyways the bud -- that point oh I think you do make the point Tracy.
People are very skeptical about auto mechanics and general so this is a critical time for you.
How are you as a -- make sure that that location.
In one state is doing just as well as your ideal location in this state.
As well as did its policies and procedures it's affect the world company operated stores as opposed to franchise operations.
So we have consistent procedures consistent -- plans.
And for example on that front our store managers pay is 80% salary.
And then the last 20% is tied into customer service and store profitability.
So really they're not -- to a large degree to do anything other than service a customer well build trust with that customer.
Bomb our turn over this past year.
-- 10% below last year which is the lowest it's been since 1992.
Another you know -- difficult period so us being in the community with the people shopping.
Going you know in our store managers and road -- going to church.
They're not in it for the fast buck their living with the people -- -- and they're they're more patient and trying to take Carol we have all the -- ten seconds are you hiring.
Sure where they were hiring picking up guys from whom you know.
Dealers close as you get him from the dealers and for mothers when you win and in the marketplace it's easier to hire.
That's great and Robert thank you celebrate thank you guys appreciate it.
Have a -- chairman and Chief Executive Officer of a Monro Muffler Brake I gotta go.
I only get back to ripple effects of losing a job and -- home well we'll talk to the humane society about what happens to the beloved family pets.
You can't be -- work.
There -- back.
All right -- -- to cut costs many households had to take extreme measures including.
Getting rid of man's best friend what does the what does this mean for the shelters that house abandoned animals let's ask -- to Sally.
He is the president and CEO of the Humane Society of the United States we welcome to the show.
Thanks Ramadan you know we kid around a lot on this show we have a lot of -- this is certainly no laughing matter what is happening in this recession it's -- -- human -- But also all probably oftentimes forgotten state a -- on our animals has an.
Well you know the situation was bad to begin -- there about eight million dogs and cats who enter shelters some private shelters some public shelters.
And still in America about three point seven billion are euthanized -- of those three point 7000003.
Million are healthy and -- comfortable.
So when you're really talking about a serious problem to begin with and you compounded that problem by having this recession.
And you -- -- foreclosure crisis and you do have a relinquish but that's actually the number one source of animals going to shelters as people.
And then deciding for one reason or another that they can no longer keep the animal.
And they turn the animal -- to a shelter which has this enormous burden to deal with in general so it's it's a difficult problem for sure.
-- -- -- remedy this I mean I know a lot of pet lovers they kicked our pets.
Way better than I've -- my kids and so there's got to be a lot of people out there who want these animals how do we get them out there.
Well let's just say in general mean we really believe that there's a human animal bond that people would never relinquished their -- mean most people.
Do treat them as members of the family and it would be the last thing they would -- give up they might sacrifice.
Their own well being in order to protect their pets so we're telling -- about a very small sliver of the population.
Who would have an animal and then relinquish the animal.
I think what we've got to do is -- the stigma that there's a problem with animals that shelters most of the animals -- shelters.
And up there because of a human problem.
Not because the animals have some behavioral problem or some defects it's usually someone move being -- there's a foreclosure crisis or.
Feel their apartment no longer allows pets in the in the in the larger contract.
So I think it's it's the idea of not going to a puppy mill or to an Internet site.
But to go to a shelter or rescue group to get a loving companion.
And in fact these animals are often genetically superior to the animals.
Sold -- pet stores -- Internet sites because.
Sometimes they're mixed -- they've got some additional genetic confusion a lot of these pure breads.
Have physical problems they have.
If this plays they've genetic and hereditary problems and you know a lot of vet bills from a lot of the pure breads that are sold through pet stores and on Internet sites.
-- you guys are getting hit from both sides in this recession to not alienate your expenses going up because there are more animals for you to take in.
But your revenue was going down isn't it.
Well local humane societies like other charities are facing this double pressures you as you indicate.
You're seeing more demands placed upon them and also sometimes local animal control the government funded operation they're tricking their budgets.
So they're more demands placed on them yet Philanthropic giving to many local societies has diminished.
As a consequence of the larger recession so it is a double or even a triple whammy and that's why it is so important for people who can help.
If you want to get.
Loving companion -- dog or cat go to your local shelter go to pet finder dot com.
Go to the humane society dot org and find out resource or where you can make a real match -- an animal.
And there's nothing wrong -- -- -- shelters living that's my number one message today is that these animals are actually better they're getting socialization and getting proper vet care.
At the puppy mills -- the other sources for a lot of animals it's quite the opposite the animals are not getting -- properly they're not getting that care.
-- the subjects of inbreeding the female votes -- -- heat cycle after heat cycle we've got the stump stump this puppy no problem.
And we've got the drive people to shelters to solve this issue.
-- one last time give us the email address.
Well the Humane Society of the United States is a website and it's a dot org and we've got lots of resources pet finder dot com.
Worked with local humane studies -- animal control agencies you can find what -- animal you wanna -- -- -- purebred -- you're on a mixed read on a small -- -- -- -- -- -- dot -- Has all the information that you would want to make that match between you and a loving dog -- cat.
Elaine thank you so much for being with us today.
Going to -- of the Humane Society of the United States are right up next Latin married and spirituality.
How the recession has changed at all.
Didn't -- business returns.
This economy has actually helped.
Keep couples together but it's not.
Always for the best hard times.
Makes the voice even more costly but is -- unhappily married -- and answer let's ask divorce attorney Vicky Ziegler who joins us right now how are -- making it -- -- good decision.
This is really actually a bad news story in a lot of different ways but on the surface you've got.
Housing values that are so low people are actually staying together -- to deal with having to get get rid of that.
House right now and that's so many -- right -- -- can't -- sell their homes have been on the market for at least a year -- that's a major problem and then when they do sell obviously their equity is much lower.
And it's a major problem a lot of people can't even afford to pay their mortgages on time and they can't refinance -- Problems.
We don't know about and it's really causing -- -- -- people are thinking about.
The financial impact of one household becoming killed and saying you know what maybe let's ride out this real estate and problem in the values that credit crunch.
And didn't get divorced later on but it's really disheartening.
That that would never work what do Tracy.
Waiting to get divorced just setting me on this yeah.
The video and that's.
They're gonna come I don't -- her advice nothing good could come out of that.
So what we're seeing though is we have unhappy couples living together so we're seeing domestic violence on the ride back.
-- -- -- it's there's a lot of awful things coming out of this just to save a few dollars yet it's really not.
The right way to -- on my opinion listen people having financial problems throughout the country and we understand that that exacerbates divorce and I'm the reasons for people running to file complaints for divorce.
But really it's about your happiness and showing which your children what a real relationship looks like solicit your house -- -- -- have to live in separate bedrooms.
You know you have to do it but he can't stay together just because when a bad economy and that's what people are doing.
Unfortunately yet another -- like myself and my attorney Steve you know people can't afford it there really is debt upon debt.
That's being condense the problem is what he didn't.
And that's the you know people come to anything won't get a Tennessee -- divorce attorney tell us what is the solution.
There really aren't so many great solutions out there if you can't move that your house he can't purchase a new one because you can't acquiring new loan you're not -- qualify.
What he -- some -- -- do have -- -- out the storm but you know what you separate seeking at least living a healthy stable environment.
You know just I'm not together most impossible for.
For you here you are you spent all this all this time in law school you know he's been almost time practicing you know you wanna say look by the letter of the law XXX now -- a sudden you have to say by the letter of the law and -- -- -- -- -- marriage counselor and you gotta -- -- where both -- have.
-- to me about frustration levels and you know I'm very proud of my settlement rate it's about 99%.
And that was before this economic -- turmoil parent site can't really tell you that you can settle every case now the money's not there you really allocating debt at this point and -- you know what if you're allocating debt we can't get paid and we really can't solve the problems because there's really no liquidity in the with a major problem for everybody throughout the country.
And its greatest and the employment rates.
You know are not continuing to increasingly seeing it that the news is seeing that -- stabilized but.
People don't have the income they used to.
Or maybe not at all they can't keep their financial status quo afloat but can't -- -- -- -- that creates -- they start borrowing that's a major problem.
Talk about the high end or just anybody I guess who's been divorced now you -- divorce decree it says that one of the spouses have to pay X amount -- alimony that was based on.
My big fat bonus in all the -- the mascot but -- -- crazy -- and more cases come back to court being reopened.
Yes very good for an actual point what you -- statistics say a divorce is on the rise in marriage is on the rise as well -- on the but what we're seeing is an increase in these posters and applications that you -- and basically people are saying I can't afford to live by this agreement I can make a million dollars a year five years ago.
I make it a 100000 -- -- you can't keep me at that standard in this argument when I started practicing eleven years ago would never fly.
Judges -- -- those cases out of -- your -- planning no way.
Now it's a reality in the last three years really make it a problem for people to continue that status quo continue to pay what they agree to ultimately.
And court to having ability to pay hearings.
And reviewing the cases.
On -- fact by fact based -- major problem keeping us busy but there's really no answer inside.
-- keeping you busy.
Be doing -- I -- -- -- -- in the last two months the most I ever done in the U history.
Post nuptial agreements we heard about tiger was in with you and what's gonna do post up we weren't sure.
Those are becoming more popular because what are people saying we may get -- -- we may not we're not sure -- Renegotiating NAFTA we don't have to pay legal fees to fight it out.
A loss the -- have been a true love 30 let me.
Let me tell you yeah I demanding a second time.
And that's deemed illegal people around on -- are you legal team that.
You the ante up you leave it very easy to use it.
Three and the united yeah I -- -- -- -- and -- and that everywhere that I -- -- And I think president -- matrimonial law and civil litigation practicing.
Divorce attorney -- -- and -- and I -- this is when I said.
Not only be an attorney think attorney would say.
Every time he -- -- of illegally locally -- that you can't just say that she has to be some sort of a a marriage counselor as well because if people coming in it because it will legally this is.
The deal well why you think you got -- -- rights you just sell the house at a loss and move on I mean I think that would be my -- that would be my answer just money.
Is not can happen is cultural Austin.
-- the house go to an apartment and let's start over all right let's be in the starting over let's relates cleanse ourselves here it's one place you wouldn't I can't go from divorce it.
I think it's best economic guidance maybe divine guidance the distress of the recession.
Led many to seek advice from a higher order Fox News religion course correspondent contributor -- Jonathan Morris is here to tell us more.
Is the tough times that that was a tough -- -- thank you sound really was.
I don't hear.
Yeah make it all right hey you against the fine guidance and to send this on our way and -- it is going to be it is integrated media and out now we talk about who suffers he struggles are in the recession.
The church must still have their own set of challenges -- in -- recession well.
The church yes it does in terms of -- money coming in people are especially big gifts people were willing to -- capital improvements on the church.
I'm -- church that's 200 years old down in lower Manhattan.
We've got about 22 million dollars to left except that church and get -- -- the next century.
That's tough but what's very -- -- in tough times and here this is I think related the last segment about divorce.
In tough times.
People have an opportunity.
And I -- over and over again that both in charitable giving Newton with the church.
But also people's involvement in the church.
In tough times and whether it's question of marital problems or economic difficulties.
All of that people are saying I need help end and they do come last Sunday a thousand people and my church.
You know this is probably the toughest time for the Catholic Church member of the scandal that was going on in the -- yeah right people confuse.
And I'm thinking my masters a lot of faith in this country stuff.
There is and I will tell you that that's exactly when I mean I was raised Roman Catholic.
Came back to it when I first got separated and it was there for me and I do think that people are just looking for something because the -- don't know the answers there's.
And and I hate to say that it's but many of the questions are financially related but they are there.
And you -- the biggest it's the biggest motive for separation and divorce the biggest separation for -- Merrill difficulty is financial.
And I think if people are trained an understanding communication terms of finances.
Marriages will gold will go better people be -- businesses will be more productive and speaking of finances let's not forget.
The church has a set of books and you guys still have to be able to do with a two run that you -- your operation so.
How is the church to -- from a financial standpoint now.
What I found is that there are churches that are doing really well in terms the level of commitment of both financial but also involvement and others that are not doing so well.
The -- are not doing so well are joined -- mainline Protestant traditions.
And indicate in the Catholic Church generally generally.
A lot of other big evangelical churches and we have to learn I would say.
There who -- the Catholic churches that are doing really well.
Others are not doing so well and has to do with finding new ways to reach out into touch people where they are right now.
We can't sit back and just say hey listen to church says you have to go to church on Sunday people aren't gonna go for that I -- to give reasons for believing.
No reasons for -- it's it but it's much like corporate America right you have to evolve there's got to consolidate at times and you have to just there's a new way of thinking and that's why.
I think we -- -- you so much because you're just right there with people you don't want to go to church and the -- that right so people now are coming to you what do you see -- as far as like.
The people that are coming are they coming.
And these are they gonna stay do you think are we just here for temporary I need -- looking at and -- were looking for all new ways to get people involved -- community -- community dinner parties community service projects and come together for Bible studies video presentations.
Thinking of new ways to say.
How are we going to reach out to people -- there needs if I had that people I had to put up outside my office sign up for questions spiritual direction.
Advice I would have -- filled up all day long I simply cannot do it.
Men if not because it's a neat anybody who is willing to say I'm here to answer questions they would have alliance.
We had to figure out new ways.
To reach new needs instead of just saying hey listen come because you have to -- things more expensive is it more of a challenge -- -- it.
Yeah I'd say incense is more expensive nowadays and I was very you know but live but he'll let me give you the ability at the put a -- quantity I was willing to give you an example we have.
These major capital improvements in this and his church right.
It used to be that the unions.
Wouldn't really care about a million dollar two million dollar project he had twenty million dollar project now the -- -- like we want your job you -- all of a sudden you have to if you going to be respectful.
Of if you want to be respectful of unions for example -- an organization like now archdiocese here in in New York or something you have to think those things through.
And now all of a sudden the unions are definitely -- your project.
Your your expenses are gonna go a lot that's just an example project that would have cost.
Gonna cost seven and I was out disease are in the community you wanna be respectful of the community which you're -- part of that if there's all of there's all of that I -- without a doubt but then you also ahead people who are.
Sound a little -- Yeah that helps.
And so this -- there's little bit of both but in the end I'm seeing more church attendance when there's more church attendance people or giving more.
People are generous in this country.
Without a doubt you're not giving yourself enough credit -- lines are long could you not true job.
You know I actually had an idea that -- -- -- John -- I said you know I'm not gonna go to church on Easter morning because I'm not a hypocrite.
I don't just go on Easter and Christmas -- I'm gonna wait to the Sunday after then I'm gonna go -- -- everything yeah.
All of that that's what he sees -- I got -- I have to say -- captaincy when you go on Easter and then the following an out of my kids you have to do but because there's -- reason tomorrow -- right I see you learn every day I expect.
It's nothing they -- -- Jonathan Morris and actually look at ways that companies fought layoffs despite the downturn.
When Fox Business continues.
We'll rather than lay off some place it has some companies actually come up and innovative ways to keep their work force.
And trim the bottom line one of those companies with ink magazine joining us now senior writer Max taken to talk about it -- OK so -- he got tell us first ball.
How ink magazine did this and what they did.
Well -- let me just say off the bat that this is not a cost cutting measure I mean there are companies that are doing this to to save money to.
Give the workers happier life but but for us it was an experiment we -- seen so many companies that was starting up as virtual companies that is companies without an office where.
Employees connect over Skype I am at Saturn and nobody comes together physically and we thought you know what we should give this a try so.
We shut the office basically went home and made this very physical product.
While working remotely.
OK so what if you are renting office space in midtown Manhattan.
That you I would think if you close down that office space.
You've gotten to saving money well -- there's there is a huge savings they -- mean real estate especially a place like Manhattan a -- the average.
Real serious about fifty dollars a square foot per year so for us that works out to about 500000 dollars a year yeah which for a small staff and we're talking about thirty people -- -- 161000.
Theoretically -- 161000 dollar savings per person it's sort of like you could take every employee on -- you know two week cruise on the queen Mary you would hear what you're saying hey.
Next to you understand ink magazine comes out once a month he -- off this down for months ever room went home to their respective corners he's still able to produce the magazine yes now that.
You had weekly monthly daily meetings how did you do this.
Well you know a lot of companies do try to even virtual companies do try to get together in person from time to time so we had one meeting.
At our editor's house you know we had some nice food we had some wind it was pretty much success meeting at the I'm most of the time -- you know we were connecting over Skype and I am I mean it's it's actually pretty amazing how much you can get done with those little you know.
Three and four you know attacks on with even with a emoticons -- -- it as cheesy at that as that is I mean you can sort of work it out and and learn how to communicate in this new way.
So even if he did save some money.
Because of real estate -- what have you.
There are social implications involved to edit a lot of us don't realize because we just come to work every day should the part of our lives we didn't have -- maybe we realize these things well you know exactly I mean coming to work every day I mean it's this ritual that we all do it tells us when to eat it tells us when to relax it's our friends it's everything.
And I think people get laid off realizes very quickly it's like getting laid off it's so hard.
But working and it transitioning from work in an office to work at home can be incredibly wrenching and I mean -- it's just hard it's hard to remember to eat for instance.
But at the same time it's also very lonely I mean I did it the first couple years when I had kids -- from home don't really.
Yes and if I didn't have them sit it I have to feed on occasion it you find yourself like.
You -- like you're in a bundle it this week I mean this month with the NCAA brackets and -- -- the suggested that the part of it but we see that there's this social.
Interaction that goes on -- would doubt it.
You know it's getting -- big part you -- guys I've thought about that but my -- I would.
Typically that he you know you need to get dressed like there are days where you go to working on the -- it's 5 o'clock is still in your slippers you kind of lose that part of them.
Just life -- a cool.
Is you we really think getting that the future of work is not in an officer out of an office at some hybrid.
And I think in the future people are going to be able to choose so.
If you have kids and you want that spends more time with them you'll be able to stay home a couple of days a week.
And if you like the office if you like that feeling the social interaction happy hour -- ball whatever you'll be able to do that whose ball.
Right re making note that -- -- -- a -- seconds that auditions but you also found that you know you have writers.
Writers I -- understand being very productive at home did the did the thought process going you -- of all the distractions.
But your management personnel was not as productive how do you measure that it's going to be tough to measure what.
It's it's not something that you can measure directly I mean -- you can look at long term financial impact in an -- there is some evidence to show that virtual companies are generally more productive than non virtual companies.
However I mean managers sort of through their whole lives adopt these skills and and one of the things we talk about his management by walking around that's when you sort of walk from Q2 Q you look at people's face and yes it's the main way that managers know how to manage -- when you take that how -- -- out of their quiver.
There they can feel helpless you know I see I got around these here parts just it's just not gonna mention any names but yeah you're right that.
That -- walking around the living at the look on the home to the mir's safety do just that against somebody to talk to get -- but invite and so now it's only the one thing that I found.
Back then was you never as you never went from -- it's always there you hear the phone ring.
And now it's different today because I I still feel like I'm never away from it because you everywhere is a Blackberry but you don't know when -- like.
Took a -- a phone call that then war.
That's a great point too because you know we talk about virtual companies being more productive but one of the reasons is because people just don't stop working -- which.
That's good maybe in the short term but it may not be good in in the long term you know because you'll have your employees kind of going a little bit crazy by the end of the week.
So one month you -- -- you get -- get at the end of the month.
-- -- you talk about the positives than negatives what was the verdict was that a success or not a success the verdict was.
It was an interesting experiment I I think that for a -- company that has a lot of collaboration.
Like as with a magazine or politics like this do you need to get together I mean there's something just incredibly.
Worthwhile about seeing the look on someone's face when you propose something or we're just looking over some of the shoulder on the other hand I think what we learned was that flexibility.
It is you hear me and I think I really -- -- things we're gonna show from Skype makes me.
You know ma am I'm fine with that -- alleged that of your placements when -- cook food and.
-- Max thanks good to see you then I shaken up a magazine and wrap it up for us don't forget you catch his lies -- every week on foxbusiness.com at noon eastern.
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