Who’s The Adult Here?

You may have seen the You Tube video – shot with a cell phone – of a charter school teacher here in Houston allegedly beating up a student last month. She’s 40. The boy is 13. The video appears to show her kicking his back, slapping his face and slamming his head against the wall. News stories suggest other teachers were watching the incident.

Perhaps you heard about the pole vaulter in California – a senior in high school – who was the last competitor in the championship meet. She cleared the height to give her school its first-ever league title. As the girls and their parents celebrated, the coach of the losing team walked over to an official and pointed to his wrist. Then he pointed to the girl, who was wearing a small string friendship bracelet. Seems there is a rule – Section 3, Article 3 of the National Federation of State High School Associations – that states: “Jewelry shall not be worn by contestants.” The penalty is “the competitor is disqualified from the event.”

Officials discussed the situation and decided to disqualify the girl, thus awarding the title to the second place team. Afterward, the coach who pointed out the infraction – he’s 54 – said: “It’s unfortunate for the young lady. But you’ve got to teach the kids the rules are rules… I feel bad for what happened, but I guarantee you she’ll never wear jewelry during a track meet again.”

With adults acting like this, is it surprising when executives from the three companies involved in the Gulf oil rig disaster appeared before Congress this week, each chose to raise questions about their partners’ liability? Senator Frank Lautenberg (D-NJ) summarized the day’s finger pointing: “The conclusion that I draw is that nobody assumes responsibility.”

Perhaps it’s time to start reiterating those lessons you learned in kindergarten and many appear to have forgotten: 1) Maintain composure no matter how stressful the situation – or take time out; 2) Winning isn’t everything – but sportsmanship is the measure of a person; and 3) Accept responsibility – regardless of the consequences you face.

Why do grown-ups make things so hard?

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Not So Fast

Fed Chairman Ben Bernake said last week, “the prospects for a return to growth in the near term appear good.” Before making big investments in the stock market or big plans for your sales to take off, a little historical perspective might be good to consider. Here are comments from leaders the last time the U.S. faced such challenging economic turmoil (courtesy of Lance Roberts – www.streettalklive.com):

“I see nothing in the present situation that is either menacing or warrants pessimism… I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress.” – Andrew W. Mellon, U.S. Secretary of the Treasury, December 1929

“I am convinced that through these measures we have reestablished confidence.” – Herbert Hoover, December 1929

“[1930 will be] a splendid employment year.” – U.S. Dept. of Labor, New Year’s Forecast, December 1929

“For the immediate future, at least, the outlook (stocks) is bright.” – Irving Fisher, Ph.D. in Economics, in early 1930

“…there are indications that the severest phase of the recession is over…” – Harvard Economic Society,  January 1930

“There is nothing in the situation to be disturbed about.” – Secretary of the Treasury Andrew Mellon, February 1930

“The spring of 1930 marks the end of a period of grave concern…American business is steadily coming back to a normal level of prosperity.” – Julius Barnes, head of Hoover’s National Business Survey Conference, March 1930

“While the crash only took place six months ago, I am convinced we have now passed through the worst — and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us.” – President Herbert Hoover, May 1930

“Gentleman, you have come sixty days too late. The depression is over.” – President Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930

“… the present depression has about spent its force…” – Harvard Economic Society, August 1930

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