its will and drive.
its about focus.
Its about going against the odds.
Its having the strength to keep going, even when maybe your closest friends think you’re completely insane.

I just refuse to give up. Maybe its the way I grew up, but I feel I need to be a street fighter, a scrapper. Life isn’t about taking the easy path - ITS MAKING YOUR OWN DAMN PATH. Make them get out of your way if they don’t agree.

Many books and movies motivate me, but still nothing more then Scarface! I included a photos on this blog post, and its Tony in the movie blowing away people as a druglord is sending hundreds of thugs to kill him in his home (mansion).

That is how Tony dealt with things. he didn’t run and hide, he came straight for those guys - head on. Even with all his guards / gang allies dead, he blew through his office doors and blasted away everyone he could get. Of course he dies, but he goes out blazing. What else could he do? He was surrounded. He could have either done what he did and gone out blasting, or he could have hidden, or maybe killed himself before they killed him.

But he dealt with it head on. And he came from NOTHING, a FOB (”fresh off the boat”) from Cuba. He was washing dishes at a corner restaurant in Miami. Sure, he choose to go into mafia and drug trafficking, but all the odds were against him. So many times in the movie, people underestimated him, saw him as a piece of shit - you know what he does, he proves them wrong.

So people can try to start a business with money alone, but it takes WILL, and Drive, and focus for success to get there. Just never give up, and just do it.

Ya, sounds crazy right….but everyone must think how great it is to win the lottery, yet…have we considered the ramifications?

Here are some reasons i would consider it more:

If it were kept private - i think the feeling of winning the lottery must be one of the greatest in ones lifetime, but having it announced on the television has gotta suck….imagine all your friends out there who maybe you haven’t talked to in so long - contacting you for jobs, business opportunities, investments, the list goes on and on.  And if you don’t take them up on their offer, they will curse you and never be your friend again.

Imagine the lawsuits - I worry about this too, I heard a story a bout guy in Southern USA, had a small business doing housing and construction - he won the lottery, and then all these companies and customers knew he had a lot of money ,found reasons in previous deals and contracts they had with him - sued him for all he had - and BANKRUPTED HIM.

MORE MONEY, MORE PROBLEMS - Its a rap song I remember from my younger days…but I also think its true to life.

Same with business…..I / people fight so hard to make a business - when  you do make it, there will be a line of people there to try to get money out of you.

In another way, its a saying - be careful what you wish for…….everyone wants to be rich and famous, but then once  you are famous - you hide from the cameras and lead a secret life - is that really worth it?  You worked so hard for everyone to know you, once you are known, you don’t want people to see you.  Strange.

People always want what they cannot have.

Maybe if I make money (one day…., still breaking even making ends meet) I will want more?  Will it be enough - set a goal.  Reach the goal, then what.

Maybe overtired today, but brainstorming…reflecting, and sharing.

Just read an article from an Israeli company statement that jobs outsourced to India and China and other emerging markets will never return to Israel.  And for the country to continue to thrive, it must focus on innovation and original ideas.

Baharav said, “The transfer of work to emerging markets is a trend which changes the global status quo, in my opinion. That is why I say that no job which is transferred to China or India will return. No product whose production is moved to China or India will ever return.” Baharav added “That is why companies like Amdocs need to focus on innovation.”

While this continues to reinforce my idea for relocating to China to do business…it really makes me wonder whats going to happen in the global scale.

Today, I have been talking to many Chinese internet guys, and they are just blasting the search engines..using their labor powerful force to build up in Google and other web search engines.  Building english websites, selling online, generating income.

Again, the world continues to flatten….and we all have to be quick on our feet and smart to stay ahead.

This is another emotional transaction in my life….but in the process of transferring the assets and liabilities of the parent companies of newyorkbarstore.com and newyorkbarstore.co.uk to shadstone hong kong company….

This parallel phenomena was the first company I incorporated… back in 2004 as a general partnership in new york city with my hometown friend and roommate Andrew Moran - which then turned into parallel phenomena, inc of New Jersey in 2005.
Did it fail in USA? Yes. Why? Of course there can be many finger pointing,, but the major issue was cash flow. Our company credit card program from GE was “bought out” by american express, and they determined this card program was not profitable, so gave all card customers 30 days (maybe 60) to pay it off in full.  No equity partners were willing/able to finance a new one. A huge negative cash flow event, forcing us to be called on 10,000 usd of debt while also still needing to make normal business purchases of that same $10k, making an overall negative cashflow of -20k….rough for a small business with 1 fulltime usa partner. That combined with high warehousing costs, usa quarterly payroll tax, professional accounting tax, and other legacy technology costs….negative cash flow over many months.  Cutting back on virtual assistants, other support teams and not able to pay for outsourcing. Then combine that with inventory suppliers cutting terms, warehousing / fulfillment companies cutting net 30….the stress is unbearable.
Sad part is, I reckon and hear this is a common story with usa small businesses……but usa government, dont u realize you are biting the hands that feed you.

• Small business brings innovation
• Small business brings job
• Small business brings healthy competition.

I remember a few months back screaming at bank of america about easing my monthly credit pressure….what did they do??? Note it on my account and when they saw an incoming balance transfer, block the transfer and shut down my credit facility….I called enraged, and they said some bullshit about it being bank of america’s new policy and they sent me some “fine print” letter in the mail stating this policy change! Screw you bank of america, aren’t you now owned by the usa government now? You are getting a nice free tax payer bailout to keep your damn doors open….but your small business customers, you will shut us down and throw some bullshit “small print” letter in the mail to justify destroying my 500k/year USA small business - that was paying us taxes to loan you the same money u used to pay your customer service reps to shut the door on me.
This is why i see USA going down the drain.
Save big banks, but screw the small guys
America was built on innovators, on entrepreneurs, on small businesses like me to drive jobs and tax income…
But now sadly, my USA business had to be bought out by my asia operation…If you can’t beat them, join them - as many Chinese and Asian companies are buying their distributors out in USA and Europe.
So after i build my business in asia and china, i will come back and buy usa assets for pennies on the dollar.
Sad, but that is the way the world works, and how life goes.  Hope I can turn around new york bar store and make it bigger then ever….but things are definitely going to change.

“Too many people spend money they haven’t earned for things they dont like to impress people they dont like” - Will Smith

This is a great quote…i mean, funny because its so damn true!! But sad at the same time.

And its even sadder because i would have to say americans are feeling the after effects of living the lifestyle summarized in this quote…

Let me analyze each section of it…

Spending money they havent earned….. - wayyy too true, how many credit cards do people have, carrying balances greater then their income can generate…..but the “system” (banks pushing credit cards on us since entering universities) tells us buy now, pay later…..I remember my freshman year in university, all over the campus, and surrounding the campus there were people stands of people pushing me to sign up for a CREDIT CARD.  But i was a freshman, I didn’t have an income, well maybe I did some work study…they gave me a free t-shirt I remember, so my friends and I signed on the dotted line…..sad that is how the generation grew up.  Spend now….pay later….

….For things they dont need…. -do you really need that 2 story house in the suburbs?  And once you get the nice house, you have to fill it with brand new, designer furniture, right?  Maybe take out a 2nd mortgage on the house to pay for it.  An investment, right?  And you need a nice, new fancy car to drive to work, since the suburbs are so far from your office, and there isn’t any public transportation to get there……

….to impress people they dont like…. -and with that nice house and fancy car, you can show off to your co-workers.  And they will say to  your face how great it is, but then later talk badly about how you show off your money.  Or maybe even you do it to show off to your competition in other companies.  To impress a guy or a girl to like you.

Its all a scary, but real thing.  I hate picking on US of A, but it seems more in that culture than in others I have seen.  Maybe its because Americans have this great opportunity to have nice things, money.  But then, like so many different proverbs and sayings - money isn’t everything.  And does money make us happy and fulfilled…

One would question that….

I have been spending a lot of time with my friend Jon Conte, whom I met in ITALY back in 2003 when we were part of a scholarship program for Italian Americans to learn about their heritage in Italy…..we were both living in New York at the time, so after our return from italy, we would spend times partying in new york city, as well as some other fun road trips. pretty funny that years later, we are in regular contact, and both in china pursuing our dreams, looking for something bigger than where we started.

Photo above: me, Jon Conte, and David Ho

Sitting next to him now, and we are both laughing about that. He and I both say we are in China for such different career purposes, but the same idea that USA is in a bad spot now and the future of opportunity is here in China!

Below is his MBA personal statement, he is studying at Fordham University in New York City and in an exchange program with Beijing University. He allowed me to put his statement of use to receive funding, so if you would like to read this before I start asking him questions (below this text). Right now I am helping him get his own blog setup on jonathanconte.com - check that after the next couple days to see what he is up to.

I have always been a high achiever and I believe that my academic and work records speak to that effect.  As a youth, I attended Regis High School in New York City, an all-scholarship boys Catholic High School, where I had my first experience in the true qualities of Jesuit education and learned the Jesuit credo to be a “man for others.”  I am versed in the classics, having studied both Latin and Italian while at Regis, and it was in these classes where I originally noticed my love for language and the opportunities linguistics opened to experience and interact with foreign cultures.  Regis High School pitted me in my first international setting, as I commingled with young men my age from around New York City, most from backgrounds far different than my own Italian heritage.  In many respects, it was my experiences at Regis that crafted my intellectual development, as I escaped the homogeneity that characterizes most students’ high school experiences.  I have never been afraid of others’ cultures and I embrace the diversity that characterizes our human experience.

Upon graduation from Regis in 2000, I began my undergraduate studies at Fordham University.  I was enthralled with the qualities of a liberal arts education enjoying my subjects equally but particularly enjoying philosophy, economics, language, and history.  Following the completion of my first semester at Fordham, I was asked to participate in Fordham University’s select Honor’s Program.  I readily accepted the opportunity, and was pleased to undertake my classes in a more close-knit and structured environment outside of the University’s general core track.  My time at Fordham saw my initial foray into the international sector as I obtained my degree in International Political Economy, partaking in this multidisciplinary field and studying key subjects such as International Politics, Economics, Italian language, and Anthropology.

Nevertheless, excluding my course study, my attempts and opportunities at exploring my passion for the International Development field were very limited.  In many respects, my efforts at this time were not to the best of my abilities, particularly for someone seeking opportunities in a field which requires significant independent study and outside internship experience.  There are several reasons for the lack of development of my passions at this juncture of my life, but none more prevalent than my need to work during my undergraduate career in order to support my education.  I was a commuting student as an undergraduate and although I received a modest scholarship, it was necessary for me to maintain employment throughout the year to meet my expenses.  My first working experience in college was working for my local City-Councilwoman in the Bronx as a legislative assistant.  I participated in this role starting in sophomore year and continuing through my first year after Undergraduate graduation.  If I was to characterize my favorite aspect of my work at the New York City Council, it was definitely the opportunities I had to help others.  I am particularly proud of some of the programs I was able to arrange such as flu shots for senior citizens and free dental screenings for children.  At the same time, I found the day to day interactions and inter-workings of New York City politics devoid of the cross-cultural opportunities that so endear me to the international setting.

The Councilwoman I worked for was on a term limited appointment and following the expiration of her term at the end of 2005, I was at a cross-roads.  Believing that security and stability were necessary aspects for my career I began my MBA in Finance at Fordham University and also started on a career in banking in mid-2006.  After three years in the banking industry, both at The Bank of New York Mellon and Merrill Lynch, I learned several important characteristics about myself.  For one, I was very good at the work, but truly this never endeared me to my day to day tasks.  I am a high-achiever from a hard-working middle class background.  When put to task, I do not know any other way to respond than to do my best.  My grandfather was a working class immigrant, who left his home in Italy at the age of seven-teen to make his way in America.  The dirt that stained his hands from a hard day’s labor is still present in my mind’s eye.  I will always work hard.  Secondly, I learned that I do not like, nor am I am I man who values the trappings that are associated with an investment banking career.  I have no great love of monetary gain, which whether good or bad, is most definitely a key motivator behind a banking career.

The financial crisis was also a crisis of conscience in my life.  I watched many people around me, good people, lose their jobs and feel lost as they faced a juncture in their careers.  Their careers had been dominated and characterized by what the firm expected them to be, what the firm expected them to know.  Now the financial crisis put them in a position where their skill sets were less their own and solely dominated by what they had been bred to be.  They now stood lost with nothing to show for their efforts except a mortgage payment and car loan.  I did not lose my job during the financial crisis, but rather I found the courage to believe that my career can only be dominated by work that I am passionate for.  I do not value money, but rather I value knowledge, wisdom, and experience.  My career should not be developed by an organization, but rather should be developed according to what I love and who I am innately at my core.

So here I stand before you, having left my job at Merrill Lynch in July, refocusing my degree aspirations to the study of Management and Leadership. I have begun my foray into the International Development field some 5 years after earning my undergraduate degree.  My life has come full-circle, but I have been tempered and emboldened by my life-experience.  My values are unshakeable and that is truly the wealth that I have received these past 5 years.

My career aspirations are clear.  I have been studying abroad in Beijing, China this fall semester and this experience has led me to form a passion for the people of China and a burning desire to master Mandarin.  My time at the UN Democracy Fund this spring will open significant doors for my career.  I believe it will be the perfect bridge for my political and financial backgrounds, but most of all ensure that my daily efforts are devoted to bring about change for the betterment of others’ lives.

So now that you got a better idea of where he is coming from….I am going to start interviewing him with some questions and get his own ideas.

in his own words:

i was originally a finance major, and was to follow the lines of a banker, continued in finance in Merryl Lynch - or another bank as a trader. but soon i realized i didnt have a passion for the work, for finance in general. so i feel my original path was misguided because i am more macroeconomic as i am more interested in politics. i switched to management because i didnt just want to be another guy who got an MBA for a better job. i value knowledge, wisdom, and experience. i wasn’t getting those, and i felt my MBA wasn’t allowing me to get it. my school is an b-mba, and wouldn’t help me get that much higher salary. a lot of the classes are like my undergrad. so i didn’t see the value from the traditional school outline - so i made my own based on the social - political side, instead of on the finance and math side. That is how I ended up in China, reading up on the political issues, this is the next battleground of the next century, or at least half century. USA has a lot of work to keep relations with China.

what about the students in your class

here in China, its 70% chinese. i am noticing that the chinese are going to mba for the same mistaken reasons americans go for an mba - just for social standards, to make more money in their jobs - but not for true embetterment. they are more focused on monetary gains then on knowledge. they see the mba as an opportunity to make more money, which i feel is the wrong reason to get an education. the only extra benefit in china as an mba is still more noticable than in usa. in usa, everyone these days seems to get an undergrad, and it doesnt seem to differentiate your self from one another. “once you start giving everyone a gold metal, its not a gold metal anymore.” everyone has an undergrad in the usa, and its almost getting that way with an mba.

there aren’t enough risk takers in mba programs anymore. they are just after money. my view in life now is money will follow what i do. i am not sure how much that will be, but the money i make will suffice for what it is a truly enjoy doing.

anything else you want to add.

it upsets to hear me that fordham university is offering a 2nd degree for chinese students who want to get their fordham degree. its a 5 week program in the summer for $10,000usd. these chinese students save for so long, and is this investment worth it. 5 weeks in usa for that much money. seems fishy to me.

=========================

Well, I have talked about MBA in the past and I hope my chat and discussion with Jon give you another angle.

you can see some of my previous posts for your reference

surrounded by hard working people - does it require an mba

maybe i should have gone to mba school…

survived cyber monday, who needs an mba

Just want to log this in the journal….I am trying to make a payment to someone in USA, rather urgent. took some time collecting the proper information - account details, wire information, zip code, etc.

I get to the online banking, and what stops me is the last 8 of my checking card! Which I have not received, was sent to my US address, they claim, but never got it forwarded. Actually the ATM card got seized a few months back because it was expired in Hong Kong. Left me stranded borrowing money off friends…unbelievable.

Anyway, the bank of america customer service was genuinely concerned and actually helpe me as best she could…but couldnt do an override…damnnit..

chat log pasted below, for the heck of it.

Thank you for choosing Bank of America. You are now being connected to a Bank of America Online Banking Specialist.
prunella: Hello, my name is Prunella. Thank you for being a valued Bank of America customer. How may I assist you today?
You: hi Prunella, I am trying to add a bank account online , but i need to add my personal check card, I have not yet received it in the mail
prunella: I completely understand your concerns regarding the check card for transfers.
prunella: I will be glad to check this for you.
prunella: To begin with, may I please have your complete name?
You: ok, Michael Michelini
prunella: Thank you, Michael
prunella: Could you please provide me the last four digits of the account number you are referring to?
You: xxxx
prunella: Thank you for this information, Michael
prunella: After reviewing our records, I see that the Check card for your account ending in - xxxx was issued on 11/17/08.
prunella: Could you please confirm your mailing address?
You: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
prunella: Thank you
You: I had my old card seized in a machine
You: and have not had an ATM card since
prunella: As per our records, the address is correct and it was mailed to the same address.
You: I called maybe 1 or 2 months ago and they said it was in the mail
You: I have not had an ATM card since
prunella: i would like to inform you that Check Card is like an ATM Card. We issue only Check Card or ATM Card for a checking account.
You: Yes, I am aware
You: I ahve no card associated to xxxx
prunella: I apologize for any inconvenience this may have caused
You: can you help me add a payee today?
You: I dont need the card
prunella: As you have not received any card, then, we can send the new card for you.
You: I am transfers –> add account
You: but I dont have the last 4 of the check card
You: I have the other details like recipient last name, acct#, and zip
prunella: Michael, I understand you wish to make transfer to another Bank of America customer’s account and for that you need you Check card number.
You: there isnt an override?
You: I need to make this transfer today….
prunella: I understand how much important this is for you. i would request you to visit your nearest banking center and they will be able to resolve this for you.
You: I am traveling internationally….
prunella: Alright.
You: You have shares in China construction bank - can I visit them?
prunella: Sure.
You: so the accounts are linked?
prunella: Yes, accounts are linked.
You: but what currency then, Chinese Yuan or Us Dollars? If I go to a China Construction bank, its in Chinese Yuan currency
prunella: Michael, in order to check this I would request you to call us. I can provide the international number, through which you are able to call at the toll free number.
You: or, can I transfer from my business account? I have that check card
You: ending in xxxx
prunella: I apologize business accounts are not eligible for these types of transfers.
You: so there isnt any way I can use a different way to verify my identity then the last 8 of my checking card number?
You: I have logged into my online banking, I have verified my site key,
You: I can answer any security question on file
prunella: i completely understand your point. However, in order to make these types of transfers, we do require last eight digits of the Check Card of your personal account, in order to verify your account.
prunella: I understand how much important this is for you. I wish I was able to provide an alternative for you.
You: you do seem genuinely concerned, I appreciate that….
prunella: However, if you wish you can make the transfer by visiting your nearest financial institution for commercial were transfer.
prunella: wire*
You: yes….
Last text message receivedprunella: Thank you so much for your appreciation.
You: ok have a good day

another interesting fact when moving abroad, especially China…is not only the time difference but dealing with finances from back home in USA.

So, lets go through this saga step by step -

1) newyorkbarstore.com’s credit card program was bought by American express from GE corporate card - and this specific card program (productivity online) was closed and all cardholders had to pay their bills and the cards were closed.
2) the company couldn’t take this cash flow crunch at once, so we tried to roll it over to my other card.
3) the incoming card, from bank of america, CLOSED my account when they say the incoming balance transfer.

so last night (daytime in USA) I called Bank of American to investigate why my card was closed. After about 4 transfers of operators that were not experienced enough to tell me, I probably got to the “end of the line” operator, as she seemed very experienced in telling customers NO.

=============
“Sir, 2 months ago we have noted on your account that you called saying you were in financial distress”

me: yes, I was having tough times, and trying to see if my financial institution, that was also under financial distress (little jab), could give me some breathing room”

“Yes, sir, well you are not bank of america, you are your own business. So what is your financial situation now, you say it has changed?”

Ok, yes, I am not Bank of America, but I can see that you did an open sale on the stock market to raise capital yesterday. Anyway, yes, I have now improved my financial situation and have additional funding.

“ok, sir, now how much, and what are the details of this transaction”.

Yes, well its from a European company to my company in China.

“China? in US dollar sir, so you are saying these investments and transactions are all overseas international origin. Sir, we need to know what US situation is, you are where now?”

Yes, I am in China now, calling from Skype. I have been making all my payments, my credit score is perfect, I am just asking for a debt consolidation. And I have income. Is there anything wrong with my credit score?

“No sir, it is not your credit score, it is your personal income. We need to verify your personal income, but since the account has now been closed due to financial distress notes and it seems you are not currently residing in USA, this will be close to impossible to re-open. The best I can say is work on your personal income and call Bank of America back in 6 months.”

Ok, well I guess there isn’t much else for me to say. Will this affect my personal credit score?

“no sir, this is a business account and will not affect your credit. Your score is fine. Thank you for calling Bank of American small business card services, have a wonderful day.”

goodbye.
===============

above photo is a billboard near my apartment in china. seems the world isn’t so different after all. money, money, money!