CENTR A L CONNECTICUT STATE UNIVERSIT Y Wednesday, November 11, 2009
www.centralrecorder.com
Volume 106 No. 10
CCSU Adjunct Prof. Considers Bid for Governor
Walsh: Start Managing Your Money Now MATT KiERNAN ThE RECoRDER
likely to move into states such as New York and Massachusetts. “If we don’t get our act together, we’re going to be in a recession a lot longer,” said Lamont. Lamont believes that Connecticut hasn’t been making smart, long-term investments that will improve itself. He praised President Barack Obama for his “political entrepreneurship,” which he cited the president’s stance on energy and healthcare.
The CCSU finance association invited Vice President of Finance Industry Regulatory Authority Gerry Walsh to discuss with students her ideas on how to approach saving, investment and avoiding debt. “The United States hasn’t been a nation of savers,” said Walsh to an audience in Alumni Hall. Walsh says the country uses too many credit cards to pay off their debts and their debts are compounding at enormous rates. Walsh advises that the best ways to establish a person’s credit score are to apply for department store and gasoline credit cards, take out secured loans, apply for a bank or credit union loan and to ask a friend or relative to co-sign a loan or credit card application. “What you want to do is make sure you have the greatest, cleanest track record you possibly can,” said Walsh. A table was shown for measuring a person’s credit score and was divided as payment history holding 35 percent of the total, amounts owed 30 percent, length of credit 15 percent, type of credit 10 percent and new credit 10 percent. “The higher the score, the lower your interest rates are going to be for when you take out a loan,” said Walsh. Walsh suggested that students should be looking into retirement to make sure they’re secure in the future. Although it’s difficult to imagine, Walsh says it’s important for students to envision themselves years in the future. Before students invest, they should create a “spending” plan that includes both saving and investing. Paying off personal loans and credit card debts are also important for students so they can be free to use their money elsewhere. “Put together a budget that allows you to save, spend and enjoy,” said Walsh. Investments also work out better when the investor knows about the subject and if they don’t know much about it it’s smarter to not buy into it.
See Entrepreneurship Page 3
See Managing Your Money Page 3
Edward Gaug | The Recorder
All Eyes On Ned Lamont Former Senate candidate and CCSU political science adjunct professor Ned Lamont announced he is considering running for governor of Connecticut, days before Gov. Jodi Rell declared she will not run. During his lecture Thursday on the value of an entrepreneurial culture in the state, Lamont was asked directly if he was running for governor. He responded that he was
filing for a “state-wide office.” The day before, Wednesday , Nov. 4 he announced that he formed a committee that would review the possibility of running for governor. “I have been constantly reminded during these conversations that Connecticut is not living up to its potential and that too many of our families are still being left behind,” Lamont posted on his 2010 Exploratory Committee’s
Web site. “Simply put, Connecticut’s current Chief Executive is not getting the job done.” In 2006 Lamont defeated incumbent and current Sentator Joseph Lieberman (IConn.) in the Democratic primary, but lost to Lieberman for the Senate seat on Nov. 7, 2006. His campaign focused on portraying him as the anti-Iraq war candidate who would question former President George W. Bush.
Entrepreneurship to Aid Connecticut Economy? MATT KiERNAN ThE RECoRDER
CCSU adjunct political science professor Ned Lamont’s lecture Thursday focused on entrepreneurship and how it can contribute to Connecticut’s job market and economy. “There’s nothing better than starting a small business or working on a small business,” said Lamont to an audience of faculty, students and members of the New Britain community in the Marcus White Living Room.
Lamont recalled the ingenuity of Eli Whitney, who lived in the state and invented the cotton gin. Lamont says Whitney modernized manufacturing and sees no reason why such progress can’t be recreated in today’s economy. “You have to ask, ‘what happened? Why we are slipping?” said Lamont. What is required of the state, according to Lamont, is bringing in more jobs and make it appealing for college graduates to remain in Connecticut. If there is an attractive job market, students will be less
In The Recorder This Week:
A World in Black and White?
Page 2
Excellent Teachers Awarded
Page 4
Christmas Comes Early to the XL Center
Page 6
Bringing Weezer to Central?
Page 8
Talking with Taking Back Sunday
Page 9
FOR BREAKING NEWS VISIT: www.centralrecorder.com