Bouncing Back

In the aftermath of the terrorist attacks, black-owned businesses learn the true meaning of crisis management as they turn losses into gains

All this will continue to keep investors off balance.

In fact, experts agree with Hobson: don’t panic. Standard & Poor’s suggests four
tips for investors who are grappling with market turmoil:

  • Implement a well-thoughtout investment plan–and stick with it.
  • Don’t make investment decisions based on short-term market drops and gains.
  • View a market decline as a buying opportunity.
  • Talk to investment professionals and seek out those who have handled volatile periods in the past.
  •  

Hobson espouses the same tried-and-true philosophy of patient investing that Ariel is known for. In fact, the value-oriented firm continues to research everything from mundane entities that make laundry detergent and condiments to riskier companies in the hospitality and specialty retail industries. “We suggest that you don’t do anything differently than you did before the crash,” she asserts. “Why wouldn’t you buy the same stocks you bought yesterday but at a cheaper price?”

Today, investors, professionals, and entrepreneurs alike need to be armed with timely information they can act on and a comprehensive plan that takes into account the unforeseen. Together, these elements are the basic requirements of commanders who lead troops into battle. In these uncertain and precarious times, nothing less will do.

A Tragic Loss of Life
The mind-numbing loss of human life is the most horrid aspect of the September 11 attacks. More than 5,000 people are missing or dead, victims of the hijackings and assaults. These individuals represented productive lives across the occupational spectrum–from wage-earning blue-collar workers to wealthy white-collar professionals. They, in part, kept America’s financial and economic machinery humming.

An enormous source of intellectual capital was lost with the deaths.

There was LeRoy Homer, 36, a decorated Persian Gulf War veteran and president of the Organization of Black Airline Pilots. He was the co-pilot of the United Airlines flight that crashed in Pennsylvania.
Michael Berkeley, 38, successfully ran his own firm, The Berkeley Group, in the World Trade Center. The company was involved in securities brokerage, private equity investments, and golf course development.

Calvin Gooding, 42, a Wall Street veteran who rose through the ranks to become the only black partner at Cantor Fitzgerald L.P.–the mammoth bond- and stock-trading firm that lost two-thirds of its 1,100 New York employees.

The aforementioned are but a few of large numbers of the African American casualties of the attacks. They, along with all victims of the tragedy, represent individuals that businesses, communities, and families can never replace.

Resources to Help Your Company Planfor a Crisis
The September 11 terrorist attacks imparted one lesson: Don’t dare take anything for granted. To help you develop a contingency plan to protect your company from man-made and natural disasters alike, check out these Websites of a few key agencies and organizations:
Federal Emergency Management Agency (www.fema.gov)

  • U.S. Small Business Administration (www.sba.gov/disaster)
  • The Service Corps of retired Executives (SCORE) (www.score.org)
  • The Kauffman Center for Entrepreneurial Leadership (www.entreworld.org)
  • Contingency Planning & Management magazine (www.contingencyplanning.com)
  • Business Contingency Preparedness (www.businesscontin gency.com)
  •  


–Additional reporting by Angela King and

Pages: 1 2 3 4 5 6 7
ACROSS THE WEB