Friday AM November 6th, 2009

Personal finance broadcaster Suze Orman from CNBC will talk about the economic climate and how best to weather the storm in an upcoming Houston appearance. Ed Mayberry reports.

Suze OrmanHosted by Governor Rick Perry and First Lady Anita Perry, this year's conference will recognize Texas-based, women-owned businesses that lower their companies' environmental impact.  More than 75 speakers are leading seminars on personal development, work-life balance and other women's issues at the tenth annual Texas Conference for Women next week.  CNBC's Suze Orman says the economy is also an issue for women.

"Money is the foundation of everything right now.  You're either happy or sad because you have money or you don't have money.  So if there has ever been a time for a woman to be powerful about her money, it's right here and right now.  Real estate that is down dramatically.  You have 401 (k) plans that have become 201 (k) plans.  Even though the stock market has recovered somewhat, it hasn't recovered to where it was in 2007.  You have unemployment hitting approximataely ten per cent.  It doesn't matter what programs happen to be in existance.  All that matters is what you can do to save yourself."

Orman says she's noticed something about those who come to her for financial advice.

"So now the change is they're coming to me not with the fear of them losing their job, not with the fear of their portfolios going down, not with the fear of them buying a piece of real estate that may be wrong, but with the reality that they did lose their job, they did lose money in the stock market, they are in credit card debt.  The credit card companies are absolutely — especially the ones from the banks — treating them so horrifically.  The major banks, like Citi and Chase and Bank of America — all three of those banks should be so ashamed of themselves as to how they are treating the credit card customer.  It's not even funny."

The Texas Conference for Women is set for next Thursday at the George R. Brown Convention Center.  Ed Mayberry, KUHF Houston Public Radio News. 


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Ed Mayberry

Local Anchor, All Things Considered

Ed Mayberry has worked in radio since 1971, with many of those years spent on the rock 'n' roll disc jockey side of the business...