It’s been a while since I have taken time to drop a message. I realize my opinions are worth what you pay for, but I have spent the better part of my life thinking I am on to something and need to share them freely!
Over the last several months I (along with many of you), have either read or heard in the news of the latest dreadful banking fiasco’s threatening the stability of our economy. The looming downgrades of Fitch ratings, unexpected write-downs, capital calls, changing loan regulations that negatively impact borrowers, dried up secondary markets for non-owner occupied commercial real estate, diminished fair market value of real estate, and the aversion of banks to restructure otherwise performing loans prior to maturity. It’s not unique to Texas, as every month I hear the same song- second verse at virtually every state I visit across our country. Most of the time, when people are talking with me, they have no idea what my day job is. In case you aren’t clear- it’s banking.
While I don’t purport to have answers to solve legitimate concerns (I do not discount a real nation wide problem, nor endorse unethical corporate practices), I have determined what my clients, and networking affiliates expect of me amidst this crisis in my role as their financial partner. The truth. One of my favorite verses in the Bible is John 8:32- “Then you will know the truth, and the truth will set you free”. That doesn’t necessarily mean it is the best news. But I look at it this way- with facts we all make better, fully informed decisions. With so many uncertainties- we really owe it to our clients to be communicating those things that have changed the landscape of the way we have done business before, and what measures beyond our control have altered the way we will do business today. It’s a system wide issue- far beyond the limitation of a single bank- my employer included.
We talk a lot about sales, forecasts, esteemed positions when goals are achieved (asking ourselves how that’s going to happen in this environment)- even the jobs we get to keep for that matter! At the end of the day- our ability to sell and survive is rooted in our innate understanding that the ebbs and flows in today’s financial markets commands that we cultivate the relationships (hard earned business) we have built on trust. As we strive to increase the size of our portfolio's, though we may not always agree with our team’s decision to “pass” on deals we work so hard to foster and win, we must remain committed to presenting a united front for our corporation to the public. A house divided, simply will not stand (paraphrase is mine; Luke 11:17b)! When it’s time to carry the banner, we do so with dignity as if that action is our signature to the process we gave our best efforts to.
Make it a productive, and meaningful week.
