In Wall Street We Trust

On Monday after the stock market posted its worst one-day percent decline in 21 years after the house rejects $700 billion dollar bailout plan and America held its breath waiting for the other shoe to drop.

Over the last 18 months America has endured more than what it would consider its fair share of financial hits. Subprime lenders criminal business practices with slash and burn interest rates and Wall Street driving the get away car has many ready to push the panic button. This type of questionable company business practices is old hat for many seasoned Americans but how are today's subprime loan sharks deceptive practices different from past white collar thieves? They were caught red handed.

With the economy at the brink of total collapse, employers dumping thousands of workers onto the unemployment rolls, homeowners walking away from over priced homes having learned they owe more than it's worth we have our pick of distractions. But for some its still business as usual shifting focus back to the day to day and we've got a business to run.  Employers may believe government watchdogs are not paying attention and no one will notice if they veer off the compliance road just a little. WRONG!  Just when you think it's okay to relax just a little state and federal auditors strike. They know unemployment benefits claims are up and there is no need to pretend it's just a random audit.

Independent contractors although not entitled to unemployment benefits are extremely motivated in times like these. What once was clearly a client/contractor agreement can quickly shift to an employment relationship if the payout is right and the stakes are high. When it's all said and done you picked up another headcount in addition to heavy fines and penalties while opening a 2nd audit door for yet another agency.

Words to the wise... stay the course, shore up any loose hiring practices and prepare to be audited!