Will Small Business Survive Through Health-Care Payment? The Answer Is Yes

In class 2 Marketing Meeting Accounting, the idea that all U.S manufactures are paying a huge amount of money for health-care is introduced by Detroit seeks health-care refit. Recently, a blog post on how small businesses get through the dilemma of paying health plans has caught my eye. In the blog Study Finds Small-Business Health Plans Are Cheaper on SHOP, the blogger shares the information that it saves more for small business to purchase insurance premiums on SHOP exchanges, by comparing that with premiums for insurance purchased off the exchanges.

I find this blog useful since it puts its focus directly at health care issue, “a competitiveness of the United States issue” declared by Mr. Cowger, president of GM’s North American operations. It offers an insightful analysis for small businesses to decide whether to purchase its health-care insurance on SHOP, or on the off-exchange plans. Pointing out both advantages and disadvantages of SHOP plans, the blog serves as a guideline for small businesses to purchase health-care plans, in order to avoid suffering from stress of paying for those insurances as some main manufactories in U.S. are facing right now. As a result, this unbiased blog really draws my attention on health-care issues and as a person who wants to pursue entrepreneurship in the future, this blog is a great resource to put in bookmark bar for future reference.

Reference of the image: <http://insurancepedia.net/wp-content/uploads/2010/06/index.jpg>

How the London Whale gain JPMorgan Chase & Co. a bucket of pain

David Simonds London Whale 15.07.12

Last year, the largest bank in the United States, JPMorgan Chase & Co. found itself in dilemma because one of its traders know as the London Whale lost more than $6.2 billion for the bank. Compared to a record profit of $21.3 billion earned by the bank, the money lost seemed to have little impact. However, the London Whale indeed gained JPMorgan much more pain simply because executives made a series of inaccurate statements including mocking up portfolios to cover reported losses, misleading regulators, and disregarding the shareholders’ profits.

Such actions were considered irresponsibility in business ethic. For a bank like JPMorgan Chase & Co., such poorly executed actions not only caused the bank to pay a huge amount of fines, but also induced the bank to face the criminal probes and the lost of reputation. It’s true that every bank wants to maximize its profits. However, an executive working in the Chief Investment Office has the responsibility to hold down the bank’s risk level and to be authentic to the public. Freeman’s Stakeholder Theory has pointed out that a good manager is someone who makes profits for every stakeholder in the society, referencing the government, the regulators and consumers in this situation. Ignoring and violating laws for the sake of maximizing profits should never happen again in such nationally trusted bank, JPMorgan Chase & Co.

References:

Protess, Ben, and Jessica Silver-Greenburg. “JPMorgan Expected to Admit Fault in ‘London Whale’ Trading Loss.” DealBook JPMorgan Expected to Admit Fault in London Whale Trading Loss Comments. The New York Times, 15 Oct. 2013. Web. 10 Sept. 2014. <http://dealbook.nytimes.com/2013/10/15/jpmorgan-said-to-reach-deal-with-trading-regulator/>.

Image: <http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2012/7/14/1342255833984/David-Simonds-London-Whal-009.jpg>

 

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