Creditboards with Gboogie

The weirdest thing happened the other day. One of my people found a post on creditboards where the resident “know it all”(greywolf) called my youtube videos annoying. I found that very funny. The thing with these so-called gurus is that none of them do this for a living. They take a scenario that worked for them way back when and pretend to be experts on the subject. When in reality they are scam artists. Question… If you don’t build and sell shelf corporations for a living, how(or why)would you just hang around a blog all day to make yourself feel important?. These are the types of people who have nothing to do all day but criticize. If you don’t build corps all day long how would you know what works and what doesn’t? How would you know what tiers go where and so on? I guess based on everyone else’s input huh? What reason would you have to still be hanging around? Well i have an idea. Some people need an external source of self-worth. Instead of investigating the info so you can give your readers something positive people like that immediately shoot it down. It kills me to read things like..”well this is what i just got approved for”. I’m like…”why would you need all of these corps?” Besides all of that, that’s not even your website that you’re riding so hard. Get off of creditboards teabags and get your own site. Anyway…i gues im through venting, it’s just so easy to tell when people don’t know anything. The guy acknowledged that he say my videos. Why would a business credit “expert” be looking at my videos? Why would he be searching the internet for info if he already knows everything? this is very puzzling. I never search the web for information on how to build business credit because i already know how. I get sent links from associates every time they see my name mentioned somewhere. Thats the only time i even entertain what was said. besides that….i have too much to do like actually building corps and showing others how to do it. SO….. This is a request for anyone who has gotten any useful information from our youtube videos,ustream videos,mogulus(livestream)videos,stickam videos, or the videos or ebooks from our website. Go to creditboards and let everyone know this. After viewing our information, please go there and view theirs(if you can find anything relevent). Leave a post with our website name and let people know where they can go to learn a little bit more(assuming they learned anything from there). I think information should be available to everyone and one know it all(greywolf) should not stop people from being successful because of an ego problem. Thanks im sure this will help everyone. For everyone that goes over there and leaves a post. If you send us the posted link we will give you a special discount on membership.

gboogieamerica@yahoo.com

What Happened

Here’s a sobering thought: Fifteen years ago, the six largest banks in the United States produced 17 percent of country’s Gross Domestic Product (GDP); today, the six biggest banks produce 63 percent of GDP. That means that these six banks (Bank of America , JP Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley) produce nearly two-thirds of the finished goods and services in the U.S. More than our waning manufacturing industry plus all of our software or music or film or any industry that you think of as substantial, combined. 

What caused this exponential explosion of bank profits? During the Clinton Administration, bank regulations, which had been in place since 1933 (to curtail abuses that led to the Great Depression), were rescinded. This opened the barn door and allowed mega bankers to freely roam, eating up smaller banks, developing synthetic (meaning they really are nothing but a bet) investment products, drastically reducing the amount of capital required to ensure bank ‘stability’, and evolving into institutions with questionable financial practices. As we learned during the Goldman Sachs’ hearings before the Senate Subcommittee on Investigations, substantial profits resulted from risky bets made using esoteric financial products.

Major banks with investment divisions sold overvalued investment products to customers, knowing they would plunge in value. Simultaneously, they bought the same products ‘short’, which means they were betting on their failure, while selling these products as if they were reputable and reliable investments.

These financial institutions went blithely forth, leaving mayhem from their customers in their wake. They seemed to hold no regard for the pension funds, college accounts, and other critical investments they wiped out. It appears that a greed culture developed in this largely unregulated banking environment. The behemoth banks, and peripheral enterprises, engaged in practices that financially gouged businesses and consumers. Their actions demonstrated they need to be reined in and governed by sound financial principles. 

When the federal government bailed out the big banks in 2008, they accepted billions of dollars. Instead of using that money to invest in small businesses and make loans to consumers in communities around the country, as the Bush Administration promised they would, the banks primarily hoarded the cash or used it to further increase the size of their institutions through acquisitions of smaller banks. Simultaneously, numerous viable businesses with superior credit folded or shrunk in size because their banks cut off their lines of credit, which they depended on to buy inventory and for other essential operating expenses. As a qualified borrower, you probably don’t want the nation’s major financial institutions to hold the power to dictate your financial solvency by cutting off your access to funds, when your performance has been exemplary. That is what banks did, and can do, today.

The Restoring American Financial Stability Act of 2010, has received much biased publicity. Of course, the legislation is not perfect. There are no perfect bills because the process of making laws involves compromise among legislators with disparate views. Now that the Republicans have allowed the bill to move to the Senate Floor for debate and to add amendments, it will change significantly. No one knows what regulations will be included in the final bill. If you’re interested, the Library of Congress keeps the most up-to-date versions. However, they constantly change the URLs for their pages so you’ll need to enter the name of the bill in the search box. When the page opens, click on the box labeled Text of Legislation to read the document. Like most major bills, it’s a tome. After it passes the Senate, it will go to a Conference Committee, which will include Members from the House and the Senate. They will hammer out differences between House and Senate versions, and more compromises will occur as a final version of the legislation is honed.

The bill that reports out of the Conference Committee will not be stringent enough for some of us, who had a close-up view of egregious practices in the mortgage industry. We know banks should never be permitted to offer mortgage brokers a commission rate that is three times the normal loan commission for products that carry the greatest risk for borrowers. The country faces the prospect of millions more foreclosures during the next two years. Many of these are the direct result of unscrupulous banking practices.

Some will think any restrictions are too much. They preach: Let the market ‘fix’ itself. How na?ve to believe the banks that led us to the brink of a severe depression will magnanimously forgo billions to ‘fix’ the problems. A recent ABC News poll indicates that two-thirds of the country backs financial industry reform. When we look at the widespread devastation wrought as a result of banking practices, strong support makes sense. 

http://gboogie.net/default.aspx

One owner LLC’s

I get questions from time to time about the youtube videos where i mention LLC’s not being a good structure as a one owner business. I figured i would take this time to explain why. Most cheesoe that structure because they have heard of the double taxation involved with c-corps. This can be easily be offset by giving yourself a bonus at the end of the year. The problem with one owner llc’s is that you instantly lose the corporate tax rate and are taxed as a sole proprietor(almost defeating the point other than asset protection). The structure was oringinally intended for partnerships. Limiting the liability of each partner’s investment. Making a partner only responsible for their percentage invested should the company be sued. Another drawback is most llc’s cannot be sold or transferred. The life span of the company is only as long as the life span of the partners involved. This makes it harder if you had planned to build equity in the business and then sell it later for retirement. Besides costing more to set up than a c-corp, it is not an ideal structure for business credit. This does not mean that you cannot build business credit using an llc. This is just food for thought.

I hope this helps.

Gboogie M.A.F.I.A.

People have seen this reference on the website and have many questions. It is basically a system set up to give talented people an opportunity to work from home. It is primarily for those who are unemployed and have computer access around the clock. The individual would have to be on call 24 hours of the day via yahoo instant messenger. The company structure is set up like the hollywood version of organized crime. That being so, it must be noted that all of our activities are totally legal. They are just set up as “rackets” to keep things fun. Most come in as soldiers and must complete certain tasks to get “bumped up”(promoted). This usually involves bringing in money for the family. Soldiers that display talent and skill, will be up for consideration to be “made”. This brings you into the fold for life. Being made means more income streams and a higher cut of the “take”. Whether it may be an existing income producing website or starting a fresh one. Family members also keep all of their residuals through out every step of the process. As they climb the ladder the work they put in from the beginning continues to come in. The family will accept new members until it grows to a total number of 50. Using this number because only a small percentage will actually take advantage of the opportunity(at least from our experience). We plan to maintain a solid inner family of 30 people nationwide. Others that are interested by dont have as much time to devote may be considered as “connected”. Capos are chosen to run “crews”. For example, A Capo would serve as middle management over several websites or businesses. He/she would probably have a favorite guy/girl that they micro manage to. Crews are kept small to ensure there is enough for everyone and not a dog eat dog atmosphere. This also helps to cut down on marketing overlap. To even be considered as a potential soldier one must have yahoo messenger and be available at anytime even if he/she forwards the messages to their phone. You must sign up for a free tradebit.com affiliate account(seller accounts cost $5). You would also have to register with tubemogul.com and all of the sites that they support individually(myspace,viddler,vheo,etc.). Lastly you would have to submit a photo of yourself for the family tree. You would have to send an instant message to gboogieamerica@yahoo.com to be added to the buddy list. Also be aware, If you intend on being an active participant your stats will be available for all to see. this will create a friendly in house competition and ensure that bonds grow over time. I write this only because i get emails for more information, so i hope this helps. As far as money and percentages. it varies by product and crew. Soldiers are sometimes also pick by geographical location to ensure that there is a member in every state. This guarantees nationwide distribution for whatever the family deals in, and ensure ite longevity. After that, we go country to country. lol

Paydex Score with www.gboogie.net

There is a serious myth floating around the internet concerning the dun and bradstreet paydex score, and business credit. For some reason there are websites helping to perpetuate this myth. I get asked questions everyday about what to do once you get a paydex score. The paydex score is mostly for the public. Its a false sense of security when it comes to business credit. A paydex score simplymeans that you have successfully made 3 business transactions that were recorded and placed on your report. Even if these were 3 cash purchases you would still get a paydex score. It does not speak for your company’s lendability at all. When wondering whether or not your company is ready to move past the net account phase you must consider other variables. You must pull your credit report and look at the suggested credit limit that the bureau has asessed for you. You must look at the other scores that make up your report other than the paydex. There is a score based on what industry you are in. its calculated based on other businesses in the same field as well as their success rate. There are scores based on your financials,assets,and employees. inquiries are also calculated in. In short there are many other variables to consider and the paydex score isnt one of them. See more at gboogie.net

New Business Credit blog with Gboogie

Its is friday night as i sit here and write this. I get several emails a day from people wondering if there is still such a thing as business credit. Because of the many changes banks have made to their lending requirements. This website is designed to give you knowledge needed to obtain financing for your business. The big business credit rush began long ago to give individuals with bad personal credit scores, and opportunity to still obtain certain financing while working to bring their personal credit scores back up. There are also those who are starting actual brick and mortor businesses and just need a little push to get them started. Some of these individuals have decent personal credit scores but do not want to personally gaurantee anything the business is applying for. Which ever category you fall into, it is always good to know that there is some work involved. Years ago you could have just half heartedly started a business on paper, order a few trade lines and wait until it hits your report. That is no longer the case. Now you have to actually set up a business which isnt really to much to ask. You simply have to have all of your ducks in a row as far as paper work. I believe this blog will help everyone navigate the site a little better. Each topic will be discussed in order. A few things from the members area will be alluded to, to make this beneficial to them as well. I will not actually reveal anything, but they will know what i mean. i hope this will help those who hate to have to go back through all of the videos just to recall one point. With that being said, ignore misplaced comma’s and things like (i type too fast). Here is the link to the page http://gboogie.net/default.aspx. Enjoy.

I hope this will help everyone

Busines credit webinar 2-20-10 www.gboogie.net

There will be a webinar on business credit 2-20-10 9pm est. This webinar will be held at http://www.gboogie.net/ . Gboogie will be showing trade secrets on building fool proof business credit . He also will show you how to report trades on your personal credit using public filings. Seating will be limited. For more information go to http://www.gboogie.net/ . Look at some the videos on the front page. Its the real deal!