Across the pond

• There's no point getting more sales if you aren't making money on the additional sales
• Fix the under-performing staff, suppliers, customers and products, or sack them
• Compete on everything but price so put your prices up!

Being nice isn't enough in business; especially in recessionary times. So, says Robert Craven, it's time to get tough.

It seems that my 'Beating The Credit Crunch' ology is like marmite. People love it or hate it.

The EU and UK government have had an attack of commonsense. They’ve decided to flog off parts of Lloyds, RboS and Northern Rock to create new banks and both are said to be determined to see more competition in the market.

A global convergence of auditing standards could be nearby, according to the ACCA, after the European Commission published a study comparing future EU and US standards.

The study, conducted independently by the Maastrict Accounting, Auditing and Information Management Research Center (MARC) evaluates the differences between international standards in auditing (ISAs) and those of the US Public Company Accounting Oversight Board (PCAOB).

Accountants, to kiss or not to kiss? That is the question.

Have you noticed how suddenly everyone's kissing? I'm not talking continental kissing, pecking one cheek, and then the other. I mean a bit of a hug then a kiss on the cheek or the side of the face at least. And it's not just extended family and very close friends here. Though certainly they're at it too. No, I mean kissing in a business context.

Seems to me the rule is, if you have ever met the person before even just once, then you greet them with a kiss. Male-female kiss, yes. Female-male kiss, sure.

Recently I had the pleasure of 12 hours on a Boeing 777 with a disgruntled ex-banker. Having recently parted ways with his £250K a year job, he was heading into the sun to contemplate his next move. Between copious quantities of G & Ts my new best friend opined on everything from the Government to cooking tips.

Most of his advice was highly questionable, but one of his pearls of wisdom did strike a chord. He commented that in a down turn people look out for themselves, and the smart business owner shouldn't trust anyone.