Operational Consistency: Three ways to get there?

Nearly everyone in the restaurant business has heard a version of this inconsistency nightmare story. You discover a great new restaurant.  You boast to friends about how good the food and service is. Finally you return with friends and family, only to have a horribly disappointing experience. No the management didn’t change! This is simply a classic example of why guests place such a high value on consistency.

Industry luminaries like Joe Lee, former chairman of Darden Restaurants, and Norman Brinker, former chairman of Brinker International, made this a cornerstone of their restaurant empires. Without the ability to consistently deliver on a promised experience, I would even argue, you don’t have a brand. Your brand and your promised experience are one in the same in the minds of your guests. Repeatedly fail to deliver on the promise and your brand becomes worthless.

Now if improving operational consistency or maintaining it during growth are your goals, there are 3 interconnected roads that will lead you to these objectives. These drivers of operational consistency are (1)talent selections, (2)training, and (3)systematization. Depending on your operations you may benefit from one or some combination of each of these approaches.

Talent Driven Consistency

Over the years, as I pursued my passion and training in the culinary arts, I have had the opportunity to spend time behind the scenes of some legendary food operations, including the Waldorf Astoria in New York, Ritz Carlton in Laguna Nigel, and Hay-Adams in Washington D.C., where I completed an apprenticeship. Each of these operations are famous for exceptional quality and above all operational consistency.

Spend a little time in either of their kitchens or dining rooms and the main reason is immediately clear; they attract and hire only exceptional talent. If talent is defined as an existing set of skills and abilities, then such operations, by virtue of their reputation, have the luxury of choosing from the cream of the crop. For example, I cannot envision anyone of the above operation’s kitchen staff not being able to produce a perfect “Brunoise” upon request from the executive chef or anyone in the dining rooms not knowing how to properly control the pace of a meal.

Now, I realize that a small percentage of restaurants operate in market segments that attracts the most elite talent. My real point is this. Hiring the best talent that fits your operation and that you can afford is the first step to building operational consistency.

Training Driven Consistency

Likewise, training is a huge area of impact for restaurants, when it comes to creating consistency. I watched this critical area evolve over the years. When I first started in the industry the “Magic Apron Technique” was still very common. Managers would hand a new employee a kitchen or dining room apron and magically expect the employee to figure out what to do next.

Since those days, we have made great leaps to training checklists, training manuals, certified trainers, regional training managers, and dedicated training departments. While I firmly believe that all of these weapons in our training arsenals are great, I find that the most successful operators create a “Training Cultures”.

These restaurant leaders have developed a unique commitment to ongoing training. Their employees see training not as a weekly or monthly event, but, as a part of everyday business. I recently experienced such a culture during a visit to Ann Arbor Michigan. I had heard of the remarkable service and food quality of a local deli called Zingerman’s, so I decide to see for myself.

The operation, which is best known for it’s focus on employee training was everything that I had heard. The place operated like a well oiled machine, in spite of a line extending outside the front door. More importantly, each hourly employee that I spoke with was so well versed on the food and operation, I could have easily mistaken them as an owner or manager of the business. It is this type of training culture that results in consistency and a competitive advantage.

Systems Driven Consistency

Once you have selected the best employees available and achieved training nirvana, you may still want added insurance. One way to do this is to bake consistency right in to your operation. Your menu, product specifications, and equipment selections are three important areas that can help build systemic consistency.

Ray Kroc the legendary leader responsible for developing the McDonald’s Franchise, leveraged all three of these areas, to create one of the most consistent food operations the world has ever seen. Beyond fast food there are other examples. In the area of menu development the upscale dinner house, Houston’s, comes to mind. Over the past 15 years, I have dined in there restaurants all over the country from Chicago to Orlando, and Los Angeles. I cannot recall a disappointing experience, which is saying a lot for such a large operation. I am certain that their highly focused menu is a major contributor to their success.

Similarly, a sensible approach to product sourcing can relieve pressure on your operations and reduce labor costs. Consider this example. In the 90’s, when infused oils and flavored vinegars first gained popularity, chefs all over the country were producing, storing, and labeling many versions of these products right in their kitchens. Today top quality commercial versions are available everywhere. Larger operations even go as far as have proprietary versions of their best spice blends, sauces, and other key ingredients produced for them.

When it comes to equipment, having the right tools makes a world of difference with operational consistency. I am always shocked when I visit a kitchen and find the only operating portion scale hidden deep in a storage area. Proper tools and equipment for measuring, weighing, producing, and serving your recipes lay at the heart of consistency. Starbucks realized this fact, when it chose to install high quality, automated espresso machines in their operations.

Although there may be varied roads to operational consistency for different types of operators, the big 3 categories of talent selection, ongoing training, and systems implementation stand as proven paths.

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Stimulus Payment

Daily Market Commentary for October 20, 2008 from Millennium-Traders.Com

We are in a severe slowdown, with severe consequences,” Bernanke said. “A fiscal package would not only boost overall spending and economic activity. (read more)
http://www.millennium-traders.com/news/newscommentary.aspx

Economic data released today:
Leading Indicators: U.S. Conference Board September Leading Index rose 0.3 percent; U.S. Conference Board September Coincident Index fell 0.5 percent; U.S. Conference Board September Lagging Index fell 0.2 percent.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit gain of 413.21 points on the day to end the trading session at 9,265.43
NYSE (New York Stock Exchange) triple digit gain of 338.80 points to end the trading session at 6,287.80
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 58.74 points to end the trading session at 1,770.03
S&P 500 gain of 44.85 points to end the trading session at 985.40
FTSE All-World excluding U.S. gain of 6.19 points to end the trading session at 159.94
FTSE RAFI 1000 triple digit gain of 161.02 points to end the trading session at 3,844.83
BEL 20 (BEL20) gain of 94.23 points to end the trading session at 2,109.53
CAC 40 (CAC40) triple digit gain of 118.59 points to end the trading session at 3,448.51
FTSE100 (UKX100) triple digit gain of 219.66 points to end the trading session at 4,282.67
NIKKEI 225 (NIK/O) triple digit gain of 311.77 points to end the trading session at 9,005.59

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 2,700 declined stock prices 546; unchanged stock prices 42; stock prices hitting new highs 2 and stock prices hitting new lows 3.
NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: CME Group Incorporated (NYSE: CME) stock price short 4.88 points on the trading session, high on the trading session 0.98, low on the trading session 0.09 with a closing stock price at 0.32; Bunge Limited (NYSE: BG) stock price gained 2.05 points on the trading session, high on the trading session .72, low on the trading session .20 with a closing stock price at .51; Rio Tinto plc (NYSE: RTP) stock price gained 23.96 points on the trading session, high on the trading session 1.36, low on the trading session 3.43 with a closing stock price at 9.21; ACE Limited (NYSE: ACE) stock price gained 2.80 points on the trading session, high on the trading session .86, low on the trading session .49 with a closing stock price at .38; Williams Companies Incorporated (NYSE: WMB) stock price gained 2.37 points on the trading session, high on the trading session .95, low on the trading session .66 with a closing stock price at .71; Goldman Sachs Group Incorporated (NYSE: GS) stock price gained 7.20 points on the trading session, high on the trading session 3.80, low on the trading session 5.65 with a closing stock price at 1.50; ING Groep N.V. (NYSE: ING) stock price gained 2.24 points on the trading session, high on the trading session .15, low on the trading session .95 with a closing stock price at .89; ProShares UltraShort MidCap400 (NYSE: MZZ) stock price shed 9.44 points on the trading session, high on the trading session 0.39, low on the trading session .00 with a closing stock price at .00; Potash Corporation Saskatchewan (NYSE: POT) stock price gained 6.82 points on the trading session, high on the trading session .54, low on the trading session .03 with a closing stock price at .25; Ultrashort Financial Corporation (NYSE: SKF) stock price shed 9.00 points on the trading session, high on the trading session 9.21, low on the trading session 7.60 with a closing stock price at 6.25; Transocean Incorporated (NYSE: RIG) stock price gained 9.30 points on the trading session, high on the trading session .80, low on the trading session .35 with a closing stock price at .56.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 2,151; declined stock prices 769; unchanged stock prices 107; stock prices hitting new highs 7; stock prices hitting new lows 99.
NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Apple Incorporated (NasdaqGS: AAPL) stock price gained 1 point on the trading session, high on the trading session 0.03, low on the trading session .64 with a closing stock price at .40; Bed Bath & Beyond Incorporated (NasdaqGS: BBBY) stock price gained 1.22 points on the trading session, high on the trading session .97, low on the trading session .93 with a closing stock price at .58; Google Incorporated (NasdaqGS: GOOG) stock price shed 3.20 points on the trading session, high on the trading session 0.98, low on the trading session 9.59 with a closing stock price at 9.33.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 821; declined stock prices 359; unchanged stock prices 56; stock prices hitting new highs 1 and stock prices hitting new lows 1.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES) end of day price 900.25 change 56.75
E-mini NASDAQ-100 (NQ) end of day price 1,358.50 change 47.50
E-mini S&P SmallCap 600 (SMP) end of day price 294.30, change 14.50
DJIA (YM) end of day price 9,321 change 550

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7510 to U.S. Dollars 1.3316
Japanese Yen 101.950 to U.S. Dollars 0.0098
British Pound 0.5834 to U.S. Dollars 1.7140
Canadian Dollar 1.1933 to U.S. Dollars 0.8380
Swiss Franc 1.1512 to U.S. Dollars 0.8687

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) gained .40 on the day for a closing price of .25 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) gained .07 on the day for a closing price of .23 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed .10 on the day for a closing price of .21 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) gained .05 on the day for a closing price of .72 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) gained .30 on the day for a closing price of 0.00 ($US per Troy ounce)
Silver (COMEX: CMX) gained .36 on the day for a closing price of .69 ($US per Troy ounce)
Platinum (NYMEX: NYM) gained .50 on the day for a closing price of 2.50 ($US per Troy ounce)
Copper (COMEX: CMX) shed .06 on the day for a closing price of .12 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) shed 0.35 on the day for a closing price of 65.63
Pork Bellies (Chicago Mercantile Exchange: CME) gained 1.48 on the day for a closing price of 89.05
Live Cattle (Chicago Mercantile Exchange: CME) shed 0.48 on the day for a closing price of 92.08
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 0.10 on the day for a closing price of 97.95

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) gained 15.50 on the day for a closing price of 418.50
Soybeans (Chicago Board of Trade: CBT) gained 34.00 on the day for a closing price of 940.75

Bond Market:
2 year bond  shed 6/32 on the day for a closing price of 100 17/32 with a Yield of 1.70, Yield Change 0.09
5 year bond gained 5/32 on the day for a closing price of 101 17/32 with a Yield of 2.80, Yield Change -0.02
10 year bond gained 21/32 on the day for a closing price of 101 7/32 with a Yield of 3.84, Yield Change -0.08
30 year bond shed 1 9/32 on the day for a closing price of 104 10/32 with a Yield of 4.24, Yield Change -0.07

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly MarketNews for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading services. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com
http://www.millennium-traders.com

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Investors

Daily Market Commentary for October 22, 2008 from Millennium-Traders.Com

DOW disaster, heavy selloff into the close of the market session, followed by a slight rebound after being down almost 700 points today and investor confidence continues to fade, as the flushing sound gets louder. (read more)
http://www.millennium-traders.com/news/newscommentary.aspx

Economic data released today: n/a

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit loss of 514.45 points on the day to end the trading session at 8,519.21
NYSE (New York Stock Exchange) triple digit loss of 420.78 points to end the trading session at 5,630.56
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 80.93 points to end the trading session at 1,615.75
S&P 500 loss of 58.25 points to end the trading session at 896.80
FTSE All-World excluding U.S. loss of 9.85 points to end the trading session at 146.50
FTSE RAFI 1000 triple digit loss of 217.22 points to end the trading session at 3,521.20
BEL 20 (BEL20) triple digit loss of 120.72 points to end the trading session at 1,968.63
CAC 40 (CAC40) triple digit loss of 177.22 points to end the trading session at 3,298.18
FTSE100 (UKX100) triple digit loss of 188.84 points to end the trading session at 4,040.89
NIKKEI 225 (NIK/O) triple digit loss of 631.56 points to end the trading session at 8,674.69

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 474 declined stock prices 2,739; unchanged stock prices 47; stock prices hitting new highs 1 and stock prices hitting new lows 436. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Agnico-Eagle Mines Limited (NYSE: AEM) stock price shed 8.75 points on the trading session, high on the trading session .93, low on the trading session .80 with a closing stock price at .80; Coventry Health Care Incorporated (NYSE: CVH) stock price shed 14.57 points on the trading session, high on the trading session .80, low on the trading session .49 with a closing stock price at .92; CEC Entertainment Incorporated (NYSE: CEC) stock price shed 4.57 points on the trading session, high on the trading session .48, low on the trading session .25 with a closing stock price at .00; Bunge Limited (NYSE: BG) stock price shed 5.72 points on the trading session, high on the trading session .46, low on the trading session .71 with a closing stock price at .25; Harley-Davidson Incorporated (NYSE: HOG) stock price shed 3.38 points on the trading session, high on the trading session .27, low on the trading session .42 with a closing stock price at .35; Rio Tinto plc (NYSE: RTP) stock price shed 24.750 points on the trading session, high on the trading session 7.50, low on the trading session 7.00 with a closing stock price at 3.00; Devon Energy Corporation (NYSE: DVN) stock price shed 7.87 points on the trading session, high on the trading session .58, low on the trading session .36 with a closing stock price at .34; Ultrashort Financial ProShares Corporation (NYSE: SKF) stock price gained 16.10 points on the trading session, high on the trading session 6.79, low on the trading session 5.82 with a closing stock price at 8.30; UltraShort MidCap400 (NYSE: MZZ) stock price gained 10.94 points on the trading session, high on the trading session 2.35, low on the trading session 0.87 with a closing stock price at 7.85; Massey Energy Company (NYSE: MEE) stock price shed 4.84 points on the trading session, high on the trading session .10, low on the trading session .27 with a closing stock price at .36; Transocean Incorporated (NYSE: RIG) stock price shed 9.92 points on the trading session, high on the trading session .81, low on the trading session .54 with a closing stock price at .88; CME Group Incorporated (NYSE: CME) stock price shed 24.19 points on the trading session, high on the trading session 6.46, low on the trading session 8.42 with a closing stock price at 4.50; Potash Corporation Saskatchewan (NYSE: POT) stock price shed 5.86 points on the trading session, high on the trading session .85, low on the trading session .58 with a closing stock price at .50.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 423; declined stock prices 2,469; unchanged stock prices 89; stock prices hitting new highs 2; stock prices hitting new lows 304. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Apple Incorporated (NasdaqGS: AAPL) stock price gained 4.61 points on the trading session, high on the trading session 1.25, low on the trading session .93 with a closing stock price at .10; Cerner Corporation (NasdaqGS: CERN) stock price gained 2.32 points on the trading session, high on the trading session .26, low on the trading session .15 with a closing stock price at .34; Baidu.com Incorporated (NasdaqGS: BIDU) stock price shed 1.72 points on the trading session, high on the trading session 8.56, low on the trading session 7.45 with a closing stock price at 6.95.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 266; declined stock prices 898; unchanged stock prices 56; stock prices hitting new highs 2 and stock prices hitting new lows 123.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES) end of day price 898.00 change -61.25
E-mini NASDAQ-100 (NQ) end of day price 1,241.00 change -51.50
E-mini S&P SmallCap 600 (SMP) end of day price 271.00, change -15.00
DJIA (YM) end of day price 8,535 change -500

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7788 to U.S. Dollars 1.2841
Japanese Yen 97.640 to U.S. Dollars 0.0102
British Pound 0.6155 to U.S. Dollars 1.6247
Canadian Dollar 1.2571 to U.S. Dollars 0.7955
Swiss Franc 1.1619 to U.S. Dollars 0.8607

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) shed .43 on the day for a closing price of .75 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) shed .14 on the day for a closing price of .06 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed .10 on the day for a closing price of .21 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) shed .12 on the day for a closing price of .57 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) shed .80 on the day for a closing price of 5.20 ($US per Troy ounce)
Silver (COMEX: CMX) shed .62 on the day for a closing price of .46 ($US per Troy ounce)
Platinum (NYMEX: NYM) shed .50 on the day for a closing price of 7.20 ($US per Troy ounce)
Copper (COMEX: CMX) shed .14 on the day for a closing price of .87 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) shed 0.13 on the day for a closing price of 57.65
Pork Bellies (Chicago Mercantile Exchange: CME) shed 3.00 on the day for a closing price of 87.95
Live Cattle (Chicago Mercantile Exchange: CME) shed 1.10 on the day for a closing price of 91.88
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 0.58 on the day for a closing price of 98.55

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) shed 26.00 on the day for a closing price of 385.00
Soybeans (Chicago Board of Trade: CBT) shed 50.50 on the day for a closing price of 864.75

Bond Market:
2 year bond gained 5/32 on the day for a closing price of 100 28/32 with a Yield of 1.52, Yield Change -0.09
5 year bond gained 15/32 on the day for a closing price of 102 621/32 with a Yield of 2.54, Yield Change -0.10
10 year bond gained 24/32 on the day for a closing price of 103 7/32 with a Yield of 3.59, Yield Change -0.25
30 year bond gained 2 19/32 on the day for a closing price of 107 15/32 with a Yield of 4.06, Yield Change -0.14

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly MarketNews for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading services. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com
http://www.millennium-traders.com

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Banish panic with security from Locksmith LA

Fire presents a major hazard to any public building such as a business or school. Some of the worst tragedies in American history have been the deaths of hundreds of people from fires in a public building. Locksmith LA knows this, and works every day to prevent these kinds of tragedies.

Most of us today recognize a “panic bar,” that big horizontal bar across the interior of a door in an office or school. You push on the bar and get an immediate exit from the building.

Panic bars are now required in public buildings in dozens of countries around the world. There was a time, however, when this type of security device didn’t exist, and hundreds of people paid the price for not having them.

One of these terrible tragedies occurred in 1903 when the Iroquois Theater in Chicago caught fire. Inside of 20 minutes, some 600 people died because they couldn’t get out of the building. Even the fire exits didn’t help, because the locking mechanisms on the doors were too unfamiliar to the panicked people. They didn’t know how to open.

The Iroquois Theater Fire made a deep impression on engineer Carl Prinzler. Together with his neighbor Henry DuPont, Prinzler invented the panic bar, a simple device that would easily open a door when pushed against, as people would naturally do in trying to escape a fire or other hazardous situation. First sold by the Von Duprin Company, the panic bar is in widespread use today in various forms, but all of them are derived by Carl Prinzler’s original idea to prevent disasters.

Most cities with commercial buildings require panic bars on doors as a fire safety precaution today. However, there are still older buildings that lack this essential protection. Your business may be housed in one of these older buildings.

If it’s time to consult a Los Angeles locksmith to install panic bars on your exterior doors, then you need to make an appointment with the experts at Locksmiths LA. Fully licensed professional technicians are waiting to help you sort through the many options available and make the right choice for your business.

Locksmith LA prides itself on customized lock service that begins when you call to schedule a consultation. Friendly customer service representatives will pay close attention to your needs, and then set up an appointment with a licensed Los Angeles locksmith.

Upon arrival, often within 30 minutes of your call, the technician will conduct a thorough inspection of your building to determine what size and type of security upgrades will meet your needs, at prices that won’t break the bank. All its work comes with 90 days’ warranty on parts and labor. Locksmith LA is bonded, licensed and insured.

Finally you can get this kind of immediate expert service within 30 minutes of your call in urgent situations. Should you lose your key, get locked out or need repairs, Locksmith LA stands ready to help you 24 hours a day, 7 days a week, 365 days a year, for no extra charge. That’s security enough to banish anyone’s panic.

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Earnings Report

Daily Market Commentary for October 23, 2008 from Millennium-Traders.Com

Earnings released for the third quarter are not impressing investors which is only increasing the strength of the selloff in the markets, across the board. (read more)
http://www.millennium-traders.com/news/newscommentary.aspx

Economic data released today:
Jobless Claims: U.S. Jobless Claims for week of October 18 rose by 15K to 478K compared to survey of an increase by 2K; U.S. Continuing Claims for week of October 11 fell by 6K to 3,720,000; U.S. Jobless Claims Revised for week of October 11 to 463K from 461K; Labor Department reports that Hurricane Ike added 12K Jobless Claims in Texas.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit gain of 172.04 points on the day to end the trading session at 8,691.25
NYSE (New York Stock Exchange) gain of 41.60 points to end the trading session at 5,672.07
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 11.84 points to end the trading session at 1,603.91
S&P 500 gain of 11.34 points to end the trading session at 908.12
FTSE All-World excluding U.S. loss of 0.49 points to end the trading session at 146.08
FTSE RAFI 1000 loss of 2.20 points to end the trading session at 3,510.50
BEL 20 (BEL20) gain of 14.51 points to end the trading session at 1,983.14
CAC 40 (CAC40) gain of 12.69 points to end the trading session at 3,310.87
FTSE100 (UKX100) gain of 46.94 points to end the trading session at 4,087.83
NIKKEI 225 (NIK/O) triple digit loss of 213.71 points to end the trading session at 8,460.98

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 1,112 declined stock prices 2,084; unchanged stock prices 64; stock prices hitting new highs 3 and stock prices hitting new lows 702.NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Terex Corporation (NYSE: TEX) stock price shed 2.32 points on the trading session, high on the trading session .24, low on the trading session .98 with a closing stock price at .40; ITT Educations Services Incorporated (NYSE: ESI) stock price gained 0.36 points on the trading session, high on the trading session .17, low on the trading session .53 with a closing stock price at .36;  Alcon Incorporated (NYSE: ACL) stock price shed 38.66 points on the trading session, high on the trading session 3.70, low on the trading session .55 with a closing stock price at .79; C.R. Bard Incorporated (NYSE: BCR) stock price gained 4.88 points on the trading session, high on the trading session .32, low on the trading session .35 with a closing stock price at .13; Goldman Sachs Group Incorporated (NYSE: GS) stock price shed 6.48 points on the trading session, high on the trading session 6.00, low on the trading session 1.71 with a closing stock price at 8.58; Proshares Ultrashort (NYSE: EEV) stock price shed 6.90 points on the trading session, high on the trading session 2.85, low on the trading session 5.01 with a closing stock price at 3.00; Ultrashort Financial ProShares Corporation (NYSE: SKF) stock price gained 3.96 points on the trading session, high on the trading session 0.75, low on the trading session 5.31 with a closing stock price at 2.26; Covance Incorporated (NYSE: CVD ) stock price shed 14.02 points on the trading session, high on the trading session .25, low on the trading session .50 with a closing stock price at .45; Rio Tinto plc (NYSE: RTP) stock price shed 0.51 points on the trading session, high on the trading session 8.70, low on the trading session 0.96 with a closing stock price at 3.51; Devon Energy Corporation (NYSE: DVN) stock price gained 3.28 points on the trading session, high on the trading session .29, low on the trading session .25 with a closing stock price at .62; CME Group Incorporated (NYSE: CME) stock price shed 26.77 points on the trading session, high on the trading session 2.90, low on the trading session 2.20 with a closing stock price at 7.40; Transocean Incorporated (NYSE: RIG) stock price gained 2.94 points on the trading session, high on the trading session .00, low on the trading session .30 with a closing stock price at .82; Agnico-Eagle Mines Limited (NYSE: AEM) stock price shed 2.11 points on the trading session, high on the trading session .74, low on the trading session .44 with a closing stock price at .74; Massey Energy Company (NYSE: MEE) stock price shed 1.05 points on the trading session, high on the trading session .14, low on the trading session .84 with a closing stock price at .31.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 732; declined stock prices 2,144; unchanged stock prices 83; stock prices hitting new highs n/a; stock prices hitting new lows 544.NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Amazon.com Incorporated (NasdaqGS: AMZN) stock price gained 0.10 points on the trading session, high on the trading session .91, low on the trading session .31 with a closing stock price at .00; FS Network Incorporated (NasdaqGS: FFIV) stock price gained 1.97 points on the trading session, high on the trading session .70, low on the trading session .43 with a closing stock price at .75; Lam Research  Corporation (NasdaqGS: LRCX) stock price shed 0.30 points on the trading session, high on the trading session .19, low on the trading session .12 with a closing stock price at .91; Axsys Technologies Incorporated (NasdaqGS: AXYS) stock price shed 0.10 points on the trading session, high on the trading session .43, low on the trading session .23 with a closing stock price at .39; Baidu.com Incorporated (NasdaqGS: BIDU) stock price shed 38.43 points on the trading session, high on the trading session 0.33, low on the trading session 6.00 with a closing stock price at 0.66.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 382; declined stock prices 748; unchanged stock prices 74; stock prices hitting new highs 4 and stock prices hitting new lows 202.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES) end of day price 907.75 change 5.00
E-mini NASDAQ-100 (NQ) end of day price 1,238.00 change -10.00
E-mini S&P SmallCap 600 (SMP) end of day price 259.60, change -11.50
DJIA (YM) end of day price 8,679 change 122

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7748 to U.S. Dollars 1.2906
Japanese Yen 96.90 to U.S. Dollars 0.0103
British Pound 0.6185 to U.S. Dollars 1.6168
Canadian Dollar 1.2532 to U.S. Dollars 0.7980
Swiss Franc 1.1612 to U.S. Dollars 0.8612

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) gained .09 on the day for a closing price of .84 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) no change on the day for a closing price of .06 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed .32 on the day for a closing price of .891 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) gained .01 on the day for a closing price of .58 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) shed .50 on the day for a closing price of 4.70 ($US per Troy ounce)
Silver (COMEX: CMX) gained .04 on the day for a closing price of .50 ($US per Troy ounce)
Platinum (NYMEX: NYM) shed .60 on the day for a closing price of 2.60 ($US per Troy ounce)
Copper (COMEX: CMX) shed .06 on the day for a closing price of .80 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) gained 0.28 on the day for a closing price of 57.93
Pork Bellies (Chicago Mercantile Exchange: CME) shed 1.48 on the day for a closing price of 86.48
Live Cattle (Chicago Mercantile Exchange: CME) shed 2.00 on the day for a closing price of 89.88
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 2.48 on the day for a closing price of 96.08

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) gained 5.25 on the day for a closing price of 390.25
Soybeans (Chicago Board of Trade: CBT) gained 23.75 on the day for a closing price of 888.50

Bond Market:
2 year bond shed 3/32 on the day for a closing price of 100 27/32 with a Yield of 1.55, Yield Change 0.05
5 year bond shed 9/32 on the day for a closing price of 102 16/32 with a Yield of 2.57, Yield Change 0.05
10 year bond gained 17/32 on the day for a closing price of 103 27/32 with a Yield of 3.53, Yield Change -0.06
30 year bond gained 1 22/32 on the day for a closing price of 109 10/32 with a Yield of 3.96, Yield Change -0.09

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EMRs, Digital Technology Spark the Return of House Calls

It seems like an image from a Norman Rockwell painting of a bygone era – the physician, black bag in hand, stethoscope around his neck, plodding through the snow to make a house call. Nostalgia aside, house calls are making a comeback, thanks largely to Electronic Medial Records, (EMRs) and other digital “mobile medical” technology.

 This return to the past not only represents improved patient care – it makes pragmatic business sense. Insurance companies embrace the idea of house calls because they realize that paying for a doctor to see a sedentary or shut-in patient who cannot otherwise get out to see a physician, can prevent a more costly hospital admission for that patient down the line.

 Physicians agree that they get a clearer picture of patients who are suffering from a “lifestyle issue” – such as obesity or diabetes – when they can see them in their own environment. Portable medical records, and other digital diagnostic devices such as glucose monitors, EKGs and laptop-based tests – make such visits as productive as those in the office.

 The elderly are especially benefiting from this “Back to The Future Approach” to medicine. According to the Journal of the American Medical association, house calls to Medicare recipients have risen by over 40% since 2004.

 The shift represents a “new” business model for physicians struggling to keep their practices viable in these tough economic times. Hospitals are developing such House Call initiatives and encourage local doctors to participate, as are independent businesses. One such company is Chicago’s Mobile Doctors. For the past 10 years, the company has been showing doctors how to add value and revenue to their practices by joining the Mobile Doctor network.

 Recent studies suggest that physicians can create a profitable practice by eliminating the overhead associated with office-based medicine, and focusing entirely on house calls.

hna-net.com 

Related Business Insurance Chicago Articles

Fed Cuts Rate

Daily Market Commentary for October 29, 2008 from Millennium-Traders.Com

Fed Cuts Discount Rate 0.50 point to 1.25 percent; Fed Cuts Fed Funds Rate 0.50 point to 1.00 percent; (read more)
http://www.millennium-traders.com/news/newscommentary.aspx

Economic data released today:

Durable Goods Orders:
September Durable Goods Orders, excluding Transportation fell 1.1 percent; September Durable Goods Orders excluding Defense fell 0.6 percent; August Durable Goods Orders revised to a drop by 5.5 percent from a drop by 4.8 percent; U.S. September Durable Goods Orders rose 0.8 percent compared to consensus of a drop by 1.1 percent.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) loss of 77.26 points on the day to end the trading session at 8,987.86
NYSE (New York Stock Exchange) gain of 41.45 points to end the trading session at 5,774.90
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 7.74 points to end the trading session at 1,657.21
S&P 500 loss of 10.42 points to end the trading session at 930.09
FTSE All-World excluding U.S. gain of 5.15 points to end the trading session at 147.91
FTSE RAFI 1000 loss of 54.12 points to end the trading session at 3,586.96
BEL 20 (BEL20) triple digit gain of 124.51 points to end the trading session at 2,022.86
CAC 40 (CAC40) triple digit gain of 287.65 points to end the trading session at 3,402.57
FTSE100 (UKX100) triple digit gain of 316.16 points to end the trading session at 4,242.54
NIKKEI 225 (NIK/O) triple digit gain of 589.98 points to end the trading session at 8,211.90

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 2,318, declined stock prices 871; unchanged stock prices 79; stock prices hitting new highs 5 and stock prices hitting new lows 80. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Transocean Incorporated (NYSE: RIG) stock price gained 6.20 points on the trading session, high on the trading session .89, low on the trading session .00 with a closing stock price at .79; Ultrashort Financial ProShares Corporation (NYSE: SKF) stock price gained 8.33 points on the trading session, high on the trading session 5.00, low on the trading session 6.49 with a closing stock price at 4.33; Potash Corporation Saskatchewan (NYSE: POT) stock price gained 9.53 points on the trading session, high on the trading session .94, low on the trading session .61 with a closing stock price at .21; Goldman Sachs Group Incorporated (NYSE: GS) stock price gained 4.23 points on the trading session, high on the trading session 2.71, low on the trading session .66 with a closing stock price at .80; Rio Tinto (NYSE: RTP) stock price gained 18.09 points on the trading session, high on the trading session 9.42, low on the trading session 9.65 with a closing stock price at 5.81; CME Group Incorporated (NYSE: CME) stock price shed 1.64 points on the trading session, high on the trading session 1.30, low on the trading session 8.10 with a closing stock price at 2.00; Apache Corporation (NYSE: APA) stock price gained 2.68 points on the trading session, high on the trading session .87, low on the trading session .00 with a closing stock price at .63; Devon Energy (NYSE: DVN) stock price gained 1.55 points on the trading session, high on the trading session .38, low on the trading session .10 with a closing stock price at .78; Proshares Ultrashort (NYSE: EEV) stock price shed 5.00 points on the trading session, high on the trading session 5.66, low on the trading session 2.00 with a closing stock price at 2.00.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 2,012; declined stock prices 897; unchanged stock prices 85; stock prices hitting new highs 1; stock prices hitting new lows 200. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Cephalon Incorporated (NasdaqGS: CEPH) stock price gained 0.37 points on the trading session, high on the trading session .99, low on the trading session .99 with a closing stock price at .67; Apollo Group Incorporated (NasdaqGS: APOL) stock price gained 5.63 points on the trading session, high on the trading session .58, low on the trading session .61 with a closing stock price at .50; Digital River Incorporated (NasdaqGS: DRIV) stock price shed 1.91 points on the trading session, high on the trading session .18, low on the trading session .50 with a closing stock price at .24; VistaPrint Limited (NasdaqGS: VPRT) stock price shed 6.92 points on the trading session, high on the trading session .75, low on the trading session .00 with a closing stock price at .30; Apple Incorporated (NasdaqGS: AAPL) stock price gained 4.91 points on the trading session, high on the trading session 9.54, low on the trading session .94 with a closing stock price at 4.87; First Solar Incorporated (NasdaqGS: FSLR) stock price shed 4.08 points on the trading session, high on the trading session 1.58, low on the trading session 1.80 with a closing stock price at 0.01; Baidu.com Incorporated (NasdaqGS: BIDU) stock price gained 1.16 points on the trading session, high on the trading session 3.78 low on the trading session 3.04 with a closing stock price at 0.11; Google, Incorporated (NasdaqGS: GOOG) stock price shed 12.54 points on the trading session, high on the trading session 1.00, low on the trading session 2.37 with a closing stock price at 6.21.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 812; declined stock prices 346; unchanged stock prices 63; stock prices hitting new highs 4 and stock prices hitting new lows 58.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES) end of day price 927.50 change -11.25
E-mini NASDAQ-100 (NQ) end of day price 1,292.00 change -16.00
E-mini S&P SmallCap 600 (SMP) end of day price 262.50 change 3.80
DJIA (YM) end of day price 8,866 change -223

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7735 to U.S. Dollars 1.2929
Japanese Yen 97.26 to U.S. Dollars 0.0103
British Pound 0.6118 to U.S. Dollars 1.6344
Canadian Dollar 1.2264 to U.S. Dollars 0.8154
Swiss Franc 1.1329 to U.S. Dollars 0.8827

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) gained .77 on the day for a closing price of .50 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) gained .09 on the day for a closing price of .03 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) gained .36 on the day for a closing price of .06 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) gained .08 on the day for a closing price of .53 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) gained .50 on the day for a closing price of 4.00 ($US per Troy ounce)
Silver (COMEX: CMX) gained .02 on the day for a closing price of .81 ($US per Troy ounce)
Platinum (NYMEX: NYM) gained .80 on the day for a closing price of 6.60 ($US per Troy ounce)
Copper (COMEX: CMX) gained .23 on the day for a closing price of .09 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) shed 0.48 on the day for a closing price of 57.58
Pork Bellies (Chicago Mercantile Exchange: CME) gained 0.58 on the day for a closing price of 87.38
Live Cattle (Chicago Mercantile Exchange: CME) gained 2.13 on the day for a closing price of 91.00
Feeder Cattle (Chicago Mercantile Exchange: CME) gained 1.80 on the day for a closing price of 95.90

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) gained 30.00 on the day for a closing price of 420.75
Soybeans (Chicago Board of Trade: CBT) gained 59.00 on the day for a closing price of 947.00

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More Financial Services Chicago Articles

Figuring Base Salary For Information Technology Jobs

Before considering any type of job the first thing a person considers is how much it is going to pay them and if it will be enough to realistically support their lifestyle. There are several high paying IT positions that are available and pay very well. In order to figure up the salary for information technology related positions one must consider a few different factors.

The ever growing demand for information technicians, one would assume the salary would increase. Often this is not the case as it’s now a popular career choice for young people. Many technologically literate people are cropping up straight out of college which has the opposite affect on the median salary.

There are still several great paying jobs available and if someone knows just what to look for, they can cash in on this informational craze. The best thing a person can do is acquire a specific skill that will set them apart from the rest of the people who are qualified to do the same position. By standing apart with a specific skill, a person automatically increases their chances of getting the job just by being unique and hopefully indispensable.

Location is also a big factor in figuring up how much a job will pay. One job in one part of the world may pay an entirely different median amount than the exact same job in another part. It’s been reported that Washington DC is currently the highest paying city when it comes to IT positions. It is closely followed by New York and Boston.

Lower paying areas include Atlanta, Houston, Chicago, and Dallas. It’s important to figure in the cost of living when comparing it to the salary to be earned. Another thing to consider are the benefits that come in addition to the pay. Insurance packages and retirement plans are important to have along with maternity and or paternity leave for those who plan on having children.

For a comprehensive management position, one can expect to make around seventy thousand dollars at entry level. This is a high demand job and involves a lot of generalized duties. Typically an IT manager will over see the entire functionality of the business and their entire technology department. There are many duties associated with this job and good knowledge of several different specialized area will be required. With the option of advancement up the career ladder, a top out salary is around one hundred and twenty thousand dollars.

More specialized positions have different starting pays. An IT Vendor Relationship Manager will handle the business associations with computer and network providers. They will earn anywhere from ,000 to 0,000 a year. Another popular position is the Information Technology Director. They will handle all the aspects of handling the computer networks and policies within a company. This position may pay anywhere from 5,000 to 5,000.

It’s clear to see that people who choose an IT job must be well qualified and educated in all aspects of IT and it’s inner workings. Only the highest trained professionals will garner top dollar pay. With such a high salary for information technology jobs, the competition is increasing and more and more people graduate college seeing only the highest paying positions. For some it may be better to seek employment with a smaller corporation and gain valuable experience before tackling the big businesses.