This past week Pacific Coast Banking School (www.pcbsmi.org) finished its 70th year in fine fashion. The school continues to provide excellent training for future financial executives and this year was no exception. I have had the honor of serving on the faculty for 30 of those years and will continue to support the school in any way I can in the years to come.
Because of the economic times we are currently in, there was a feeling of concern among the students and faculty for the direction all financial institutions will be headed over the ensuing months. Students were afforded an opportunity to hear leaders in the industry express their thoughts as to what brought the economy to its current status and what the prospects are for the future. It appeared to be a consensus that improvement in the vast majority of the country will be a minimum of 12 months in coming. And then, it will not be a fast recovery with high concerns on energy costs, the political climate, the war on terrorism, and the fear of inflation and the monetary policies attached to that fear.