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The Working Supervisor's Support Kit is a collection of information and tools to help working supervisors do a better job. It's based on what Wally's learned in over twenty years of supervisory skills training.

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Happy weekend! At least for those of you who have one. When you get a break from shopping or chores, take some time to catch up on your reading. Here's my pick of interesting stories from the news and newswires this week. I'm pointing you to an excellent story on the financial crisis sparked by subprime lending and securitization. There are also pointers to stories about innovation in companies, the changing face of leadership at US companies, fallout from the writers' strike, and the importance of friendship.

From the Wall Street Journal: U.S. Mortgage Crisis Rivals S&L Meltdown
"The home has long been the bedrock asset of most American families. Now, its value has become the biggest question mark hanging over the global economy and financial system. Over the past decade, Wall Street built a market for more than $2 trillion in securities sold globally and backed by loans to U.S. homeowners on two long-accepted beliefs and one newer one. The prevailing logic: The value of the American home would never fall nationwide, and people would almost always make their mortgage payments. The more recent twist: Packaging mortgage loans and turning them into securities would make the global economy more resilient if anything went wrong. In a matter of months, though, much of the promise of the new financial architecture -- together with its underlying assumptions -- has proven to be a mirage. As house prices fall and homeowners default on mortgages at troubling rates, the pain has spread far and wide. An examination of the resulting crisis shows that it is comparable to some of the biggest financial disasters of the past half-century.

Wally's Comment: There have been lots of articles about the financial crisis deriving from a combination of exploitive lending and the securitization of mortgages. This is one of the best.

From the Economist Intelligence Unit: Executives Fall Short When Leading for Innovation, Global Leadership Study Shows
"Employees at some of the world’s more prominent companies don’t feel that innovation is well managed or even encouraged by their senior leaders, and it turns out their bosses agree with them. According to a new study, three out of four global executives believe an innovation strategy is critical to their company’s success, yet fewer than half are creating an organizational climate that fosters innovative thinking and leads to innovation success. In fact, approximately 65 percent still don’t have an innovation strategy in place."

From the New York Times: Seeking Leaders, U.S. Companies Think Globally
"The corner offices of corporate America's largest companies are increasingly being filled from every corner of the world."

From CNN: Writers' strike cripples small businesses
"From props companies to cleaners, vendors are struggling to adjust to a strike-induced cash-flow crunch."

From Seacoast Online: The importance of friendship
"Friendship is just a part of life's fabric for most humans, so much so we tend to take them for granted. They're just there; that person we confide in, support and are supported by. The importance of these relationships can be lost in their norm status. But they can prove more valuable than family and partners over the course of a lifetime and are worth the work to keep them healthy and alive."

Wally's Comment: This seems like an especially good story to read during the holiday season. We know from studies of all kinds that people who have friends and family tend to be healthier and live longer. We know from other studies that workers are more likely to be engaged if they have a friend at work.

Wally's Working Supervisor's Support Kit is a collection of information and tools to help working supervisors do a better job. It's based on what Wally's learned in over twenty years of supervisory skills training. Click here to check it out.

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Wally Bock has helped people learn to be great bosses for more than a quarter century. His latest book, Performance Talk: The One-on-One Part of Leadership, makes learning key leadership principles almost effortless by teaching through a story and providing lists of resources for further growth.

Click here to find out more about Wally's coaching services.

For weekly tips and resources pointers, check our Wally Bock's Three Star Leadership Letter.

Click here to find out more about having Wally speak to your company or convention.