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    « May 2010 | Main | July 2010 »

    June 2010

    June 27, 2010

    The Art of Possibility by Benjamin Zander

    LCCI
    On Thursday evening I attended the 138th Annual Dinner for the Lancaster County Chamber of Commerce & Industry.  This event is always well attended (over 2,000 attended) and usually has high profile speakers such as Bill Clinton, Tom Brokaw, Muhammad Yunus, and T. Boone Pickens. This year’s speaker was a bit less world renowned than many past speakers but did not lack world class passion (and some would say, Exuberance).
     
    For the past 28 years, Mr. Zander has been conductor of the Boston Philharmonic Orchestra and is a gifted musician and teacher.  His artistry brings creative and right-brain thinking to his presentations (and frankly to his entire life).  He started the presentation by stating he had no speech or plan for his presentation, but was going to just share. No left-brain thinker would do this J.

    Continue reading "The Art of Possibility by Benjamin Zander" »

    Posted at 09:46 AM in Leadership, My Thoughts | | Comments (0) | TrackBack (0)

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    June 23, 2010

    Dividend Tax – Is it Going Up?

    Tax
    Under current tax law, dividends paid to individuals are taxed at 15%, but recently the Senate Budget Committee passed a 2011 budget resolution that includes an increase in the top tax rate on dividends to 39.6%.  If this stays in the 2011 budget, it would amount to an increase of over 150%.  This also does not take into account that under the recent healthcare bill, those individuals making over $200,000 per year will see an extra 3.8% surcharge tax on dividends for a total of 43.4%.

     

    A few key points about dividends.  First, many people receiving dividends are seniors living on fixed income.  With low interest rates, many retirees have moved to dividend paying stocks rather than Certificate of Deposits, Money Markets…  So this huge tax increase will have a major impact on retirees and often these people are not “rich folks.”

    Continue reading "Dividend Tax – Is it Going Up?" »

    Posted at 08:03 AM in Tax | | Comments (0) | TrackBack (0)

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    June 20, 2010

    Passing Assets to the Next Generation - Does Fair Mean Equal?

    Scale Mixing family and money is a very hot topic and one that generates strong feelings - and sometimes "fisticuffs."  When a business owner is ready to pass on assets to the next generation they often stress the desire to "be fair."  But what about the children that are not in the business?  Should these children be getting a share of the company that is equal to those siblings that are "working the business?"  

    The terms "fair" and "equal" are often used interchangeably. However, the two are not synonymous. Equality means that everything is the same in a given situation. Fairness, on the other hand, implies that just treatment is given to everyone. This can vary depending on a person's needs and contributions.  

    I recently had a business owner tell me he wanted to treat his three children equally as we were putting together a plan for transitioning his assets.   I questioned him if he really meant equal or if instead he meant fair?  He stared at me with a puzzled look and then replied, “Yes, in an evenhanded manner.”

    Continue reading "Passing Assets to the Next Generation - Does Fair Mean Equal?" »

    Posted at 08:50 AM in Family Business | | Comments (0) | TrackBack (0)

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    June 17, 2010

    Hooray for Central PA!

    Hooray
    I think Central Pennsylvania is one of the best places to live… and Forbes agrees.  

     

    Forbes has compiled lists for ranking the Nation’s regions in regards to the Best Metropolitan Areas to Raise a Family, Most Livable Cities, and Cities Recovering from the Foreclosure Crisis--Our region has been ranked among the top on all three.

     

    Forbes ranked the Harrisburg-Carlisle region second, as one of America’s Best Metropolitan Areas to Raise a Family.  The regions were ranked based on household income, cost of living, rates of home ownership, housing costs, commuting time, crime and high school graduation rates. 

     

    Last month, Forbes also put the area near the top of the “Most Livable Cities” list, with the region coming in fifth.  Although the city of Harrisburg has received more recognition for its debt struggles recently, Forbes has chosen to highlight the positive aspects of the region, which consists of Cumberland, Dauphin, Lancaster and Perry counties.

     

    Although we certainly have felt the pressure of the economy, in December our area was picked as the Best of the Best in Recovering from the Foreclosure Crisis, revealing light at the end of this down-economy’s tunnel.

     

    It is hard to appreciate all the attractive features of our region amidst a lot of negative media, but sometimes we need to be reminded that we truly live in one of the best areas in the nation. 

    Posted at 05:06 AM in My Thoughts | | Comments (0) | TrackBack (0)

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    June 13, 2010

    APR Supply

    Truck_banner
    APR Supply was recently named the Central Penn Business Journal’s Business of the Year for 2009 (101+ Employees); proof that I’m not the only one that recognizes that they are an Organization that “Gets It”! Their values make for a great working environment for employees, a great place to do business for clients, and a great organization with footsteps to follow in.

     

    APR is a leading wholesale distributor of HVAC, air conditioning, plumbing, heating products, and supplies. It was founded in 1922 as the Lebanon Plumbing Supply Co. Mark Tice, first generation owner, joined the company in 1934 by purchasing controlling interest, and in 1947 he expanded it to include heating and air conditioning. It started out with one location and eventually grew into the 22 location, leading company that it is today. One of their company philosophies is that success is earned, not something that just happens. Therefore, this level of success was the result of careful planning and goal setting. For over 85 years, they have been committed and worked hard to be a leader in their industry, and they continue to succeed!

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    Posted at 09:30 AM in Organizations that "Get It" | | Comments (0) | TrackBack (0)

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    June 08, 2010

    Who’s Accounting for the Accounting Department – Association of Certified Fraud Examiners Report to the Nation

    Acfe
    Thought you knew your accounting department? Did you place trust in them to handle corporate assets?  If the answer to these questions is yes, be aware that the accounting department is the most common location for fraud inside your organization, this according to the Association of Certified Fraud Examiners Report to the Nation.

     

    Even though internal controls are in place, the report states, they often are not enforced or insufficient to keep occupational fraud from occurring.

     

    Here are some helpful tips and best practices from the Fraud Association to help keep your organization protected from fraud:

    Continue reading "Who’s Accounting for the Accounting Department – Association of Certified Fraud Examiners Report to the Nation" »

    Posted at 08:21 PM in Fraud | | Comments (0) | TrackBack (0)

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    June 06, 2010

    Jobless Recovery or No Recovery?

    Jobs
    I have not written much on the economy lately, but decided with the recent jobs report, that now would be a good time.  On Friday, the Labor Department released the May jobs data and 431,000 new jobs were added, but nearly all were temporary census workers.

     

    Also, the U-6 report (which includes the total unemployed plus all marginally attached workers and those employed part time for economic reasons) is at 16.6% and nearly one year ago when I blogged about this subject it was 16.8%.  Not much improvement (despite tremendous Government action).

     

    Below is a chart from the fine folks at Chart of the Day, which they have dubbed the “Scariest Job Chart Ever," as it shows how the decline in employment is WAY uglier than in past recessions.

    Continue reading "Jobless Recovery or No Recovery?" »

    Posted at 08:37 AM in Economy/Stimulus | | Comments (3) | TrackBack (0)

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    June 02, 2010

    Business Seminar for Entrepreneurs - June 16

    ESG
    If you are a small business looking for an update on financial and legal matters impacting you and your company, then you should consider attending McKonly & Asbury's Entrepreneurial Services Group Business Seminar.

     

    The line-up of speakers is diverse and talented.  If you attend you will leave knowing more about:

     

    · Tax deferral strategies for small businesses

    · Estate and individual income tax updates

    · Changes in health care and what small employers need to know

    · Useful tips for users of QuickBooks, such as Document Management and Job Costing

    · The Top 10 Employment Law Issues Facing Small Businesses in 2010

     

    The seminar will be held on Wednesday, June 16, 2010 from 7:30am – 12:00pm at Central Pennsylvania College in Summerdale, PA.

     

    There is no charge for this seminar. Breakfast will be provided and CPE credits are available.

     

    If you would like more information, please contact me.

    Posted at 01:47 PM in Management | | Comments (1) | TrackBack (0)

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