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Financial 411: Managing Your Manager

Wednesday, July 13, 2011

Markets

After three days of losses, markets returned to positive territory on Wednesday, spurred on by Federal Reserve Chairman Ben Bernanke's comment that the Fed is prepared to do more to stimulate the economy if it falters. News Corporation added 58 cents after the beleaguered media giant announced it will abandon a bid for full control of a British satellite broadcaster.

The Dow gained 45 points, closing at 12,492. The Nasdaq rose 15 points, ending at 2,797. And the S&P 500 gained four points, finishing at 1,318.

Keeping an Eye on Debt Negotiations

Stock portfolio managers say investors are keeping a close watch on Washington, and the halting negotiations over raising the debt ceiling.

Jeffrey Cleveland, senior economist with the investment management firm Payden and Rygel, said investors and money managers expect the president and lawmakers will come to an agreement, but the debate isn't helping overall confidence.

"This does leave a cloud of uncertainty hanging over not just the market, but the economy," he said. "So there's this big question of what's going to happen next and I think that does make investors more hesitant than otherwise would be the case."

Cleveland said everyone's focused on what could happen if the nation defaults on its debts, but few are talking about the long term economic effects from a deficit reduction deal.

Creating a Better Relationship with Your Boss

Unless you are a CEO or run your own business, you probably have a boss. If you’re lucky, you enjoy working with your manager. But for many of us, the boss we have isn’t necessarily the boss we want. Is there a way for you to have a better relationship with your boss?  

Linda Hill, runs the Leadership Initiative at Harvard Business School, where she is also a professor.

"Often we think we are supposed to be relatively passive in this relationship, and that the boss sort of tells us how the relationship would be," she said. "But unless the boss really understands what will allow you to be effective on your job, the boss may or may not come up with the right way of your working together."

Hill offers some other tips on working together with your boss.

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