Wealth & Legacy Seminar Series Announced for January 2010

The Center for Wealth & Legacy Studies™ is committed to helping successful business owners, especially those working or involved within the real estate profession or community, as well as their families 'pass forward' their financial success (wealth) along with their core family values, virtues, ethics and morals that helped to creat their financial wealth in the first place.

The Center for Wealth & Legacy Studies brings together an incredible diversity of professionals with significant experience and expertise in the wealth and legacy fields to identify and address the financial (wealth) and legacy issues facing each and every business owner and family member in today's complex and ever evolving world. The Center's goals and objectives are to instill hope and provide a specific roadmap for continued success throughout the generations to come.

Wealth & Legacy Seminar Series

The Center for Wealth & Legacy Studies delivers this information to business owners and families through various seminars and webinars, including their quarterly Wealth & Legacy Seminar Series offered originally in San Diego, California, and now offered in Las Vegas, Nevada as of January 2010. In fact, early bird registration numbers for the two Wealth & Legacy Seminars are already off to a really great start.

The Center for Wealth & Legacy Studies's first seminar to be held in the City of Las Vegas, Nevada Wealth & Legacy Seminar is scheduled for Wednesday, January 20, 2010, and its next San Diego, California Wealth & Legacy Seminar in the Series is scheduled to be held on Wednesday, January 27, 2010.

You can also view the next three or four seminars in the series with a brief sneak peak as to the topics to be addressed on the home page of each website. The cost is absolutey negligible ($40.00 for you, and you can invite two (2) guests at only $20.00 each). This is especially inexpensive when you look at the caliber of the speakers and the quality of the topics that will be presented. The bulk of the costs are covered by our sponsors. You can also view our prior seminars to see what we have brought to the table so far.

Dear President Obama: I Think You Have A Problem.

This is a great letter drafted by my good friend Alan Nevin with MarketPointe Realty, and I thought I would share it with you.  You can read the original letter posted on the Wealth & Legacy Series blog on The Center for Wealth & Legacy Studies.  Alan Nevin is one of the co-founders of The Center. 

Dear President Obama: I Think You Have A Problem! 

In about a year from now, you will have to start running for your second term. No doubt it would wound your ego to no end to be a one-term president and yet it would be very difficult for you to be elected to a second term if the economy continues to be in a moribund state.

I really don’t want the word “sickonomy” to be the byword of your administration.

Now, we have all read in the business section that our gross national product is rising; that productivity is just plain great; that the stock market is solid; oil prices are stable; our interest rates remain low; Walmart and McDonald’s are bursting with economic vitality; and that our leading lending institutions are healthy once more.

Unfortunately, all of these wonderful things happening to our economy are without the benefit of new jobs.

And frankly, Mr. President, without new jobs, you don’t have a shot at a second term.

It appears to me that your gnomes in the West Wing are spending all their time working on the auto industry, a category that at best is a minor player in the national economy, especially when you consider that at least a quarter of the sales are of vehicles made somewhere besides the United States, or substantially containing parts made outside the country.

Automobile manufacturing employment in the United States in 2008 totaled 877,000 jobs.

Now let’s talk about America’s really important industry: housing construction. Now there’s an industry that deserves your full and immediate attention and is barely a footnote in your economic stimulus agenda.

In a year in which construction is healthy, homebuilding employment is almost 10 million, more than 10 times that in the automobile manufacturing industry; and, in that 10 million I am not counting the multitude of jobs in industries that directly relate to construction or manufacturing the materials that go into the construction of a home.

Before the housing industry fell apart, there were more than 9000,000 firms in the construction-related businesses.

New housing constitutes more than 80 percent of construction employment in this nation and that industry is really hurting right now, and that’s a shame, because it it the one industry that can put you back in the White House in 2012.

Let me share a few facts with you:

First, the residential construction industry has twice the economic multiplier of virtually any other industry in America (according to the economic model developed by the U.S. Department of Commerce).

There’s a good reason for that, or I should say, four good reasons:

First, it is a highly leveraged industry, which means that a relatively small amount of equity will cause a whole house to be built. So a small investment generates large amounts of material purchases and new jobs.

Second, virtually all materials used making a home are created within the 50 states.

Third, it is a labor-intensive industry. Typically, 50 percent of the cost of a new home is the labor component and all that labor is local. A new home is a genuinely a “made in the U.S. A.” product.

And fourth, the purchase of a new home sets off an amazing round of purchase activity that is home-related. A multitude of jobs are created in the escrow, title, finance, landscaping and home improvement industries.

In addition, typically, every time someone buys a new home, there are four resale homes sold. And those sales, as well, create another multitude of jobs in the industries noted above.

The home remodeling business, when things are good, is far larger than the automobile manufacturing business.

Housing construction has plummeted from almost 2 million units in 2005 to fewer than 500,000 unties in 2009. Imagine that, Mr. President. America’s most potent economic job generator is down 75 percent and your administration is doing virtually nothing to change the situation.

And I won’t even bother to mention the impact of the home construction industry on the construction of and demand for retail, office and industrial space.

The big question is: “What can you do to generate a massive increase in new home construction?” I am going to tell you in my next article right here in The Daily Transcript.