Warsaw Kosciusko County Chamber Wins Awards at ICEA Conference

At the Winter Conference of the Indiana Chamber Executives Association (ICEA) awards ceremony held on March 15, 2013 in Indianapolis, the Warsaw Kosciusko County Chamber of Commerce (WKChamber) was honored to receive awards for Communications Excellence in four different categories.

 

WKChamber was awarded First Place in Communications Excellence in both categories of Brochures and Annual Reports & Strategic Plans.  The Warsaw Kosciusko County Chamber was also awarded Honorable Mention in the categories of Newsletters and Directories & Magazines.

 

At the same ceremony, Michelle Goble, Operations Manager WKChamber, and Trina Hoy V.P. Communications & Events WKChamber, were both acknowledged for completion of the ICEA Hoosier Chamber Academy and received certificates of graduation for their achievement.  Hoosier Chamber Academy is a series of four one-day high quality programs on chamber management “essentials” geared for today’s chamber executives and professional staff.  It has become the leading training program in Indiana totally devoted to chamber professionals wanting to fine-tune basic skills.

 

“I am so proud of the Chamber staff.  They keep us moving forward, and it is a great accomplishment to win these prestigious awards and to graduate from Hoosier Chamber Academy,” said Mark Dobson IOM, President & CEO WKChamber.

 

ICEA is a professional association for staff leaders that are employed by local chambers of commerce in Indiana. Membership also includes key volunteer leaders of smaller chambers that don’t yet have paid staff, as well as for-profit business partners that provide useful and valuable products and services for chambers and their business member-investors.

 

For more information about the Warsaw Kosciusko County Chamber, visit WKChamber.com, and sign up to receive their weekly e-newsletter.

Biomet Strikes Agreement With Florida Company

Warsaw-based Biomet Inc. has signed a co-promotion partnership with a Florida-based company.  The deal involves Biomet’s Vanguard knee replacement system and OrthoSensor Inc.’s microelectronics technology.

Read entire story HERE.

Children and Grief

When Lynn and Jessica’s mother died, they carefully placed her favorite coffee mug in her hand as she lay in her casket.

Rachel took her grandfather’s cowboy boots from his closet, set them beside his casket and wore his Stetson hat during his memorial service.

Judy and Claire were older.  They looked at their mother in her casket then looked at each other.  They smiled and nodded.  Then they drove to her home, went through her jewelry box and returned to the funeral home where they changed her earrings to gaudy pink ones and put her favorite bright pink lipstick on her lips.  Judy fluffed up her carefully done hair and Clair painted her fingernails in a color called pink glory.

All these children, whose ages ranged from seven to twenty-seven, were grieving and all were taking part in the rituals that make death and remembering mean something to us. When we lose someone close to us we do not have a choice – we will grieve.  Our choice is how we grieve.  Our choice is how we teach our children to grieve.  How they grieve their first loss will be part of every grief they know for the rest of their lives.

As a parent or other person who loves a child, guiding children through grief can be frightening.  There is a need to protect the child. Make things better. Take away the hurt. Adults can’t do all those things, but they can be a guide and teacher.  You can tell your child it’s all right to cry, that feeling sad is okay and that it’s also all right to play.  You can say you will be there or another adult will be there to answer questions.  You can explain funerals and memorial services, and believe it or not, you can be a very good and effective death educator.

To do that you will need to:

1. Be honest
2. Admit you don’t know all the answers
3. Listen
4. Find some helpful resources
5. Be creative
6. At times you need to have courage

There is a special grief camp called Camp Evergreen for youth and teens that have experienced the death of a significant person in their life.  Camp Evergreen, in its 20^th year, assists campers in realizing that many other youth and teens have experienced death.  It also educates them on the grief process and positive ways to cope.  The teens and youth have a fun-filled camp experience with swimming, canoeing, nature walks, fishing, campfires, horse back riding, and arts and crafts.  The youth camp will be held June 8 and the teen camp will be June 7-9.  The camp is for children age 6 to 18.  Camp Evergreen is run by Center for Hospice Care bereavement counselors and adult trained volunteers. The camp is provided free of charge as a community service.  To get more information or to register for Camp Evergreen call Center for Hospice Care at 1-800-HOSPICE or 574-255-1064.

DJ Construction Recognizes Ten Year Employee Frank Stoffel

GOSHEN—DJ Construction recently recognized Frank Stoffel for ten years of employment with the company.  Frank was presented with a commemorative clock at a company meeting in February.

 

Frank is a carpenter at DJ and is part of DJ’s Service Group, which is dedicated to smaller repairs, maintenance, and remodeling jobs.  He works with former clients on warranty issues as well as with new clients on maintenance work of all kinds.  Prior to his years at DJ, he worked with various independent carpenters and learned to make Early American furniture.

 

Frank is part of the Just Love Jesus church group and is a graduate of Wawasee High School.  He lives near Tippecanoe Lake with his wife, Brenda.  They have a son, Daniel, and a grandson, Landon.

 

In a testament to the loyalty and high quality of DJ employees, over 75% of DJ employees have been with the company for over 10 years.

 

DJ Construction Co., Inc. is a general contractor focusing on commercial, industrial, healthcare and church facilities in the Michiana area.  The company provides a customer-driven approach to the building delivery process for all sizes and types of projects, including renovations and repairs.

All Time High

It would be easy to conclude the bull market in US stocks is over now that we have hit new highs.  Many underinvested bears will proclaim stocks must be overvalued and it’s just a matter of time before the stock market takes it all back.  But dig a little deeper into the fundamentals of the success story of American corporations.  For instance, since hitting a low point in the financial crisis of 2009, dividends that are paid to shareholders have soared.  For the stocks in the S&P 500, for instance, quarterly dividends have risen nearly 70%, and payments have surpassed the previous high set in 2007, just before the financial crisis hit.

 

Few things are more fundamental to the valuation and health of common stocks than dividends and the growth in those dividends.  Increasing profits generally lead to increasing dividends.  It is, over time, what investing in equities is all about.  Dividends have historically contributed over half of the total return of stock markets.  The recent generosity in dividends by corporate boards is not about deception as has often been the case for some companies and whole industries at times over the past 15 years.  Today’s strength in dividend payments is a byproduct of the exceptional strength and quality of corporate profits over the past few years and the resulting buildup of cash on the typical company’s balance sheet.

 

For all the talk about the “new normal” and sluggish growth, earnings at American companies have recovered strongly and are on a trajectory to rise another 10% in 2013 and 2014.  Over the past few years, the incredible strength in dividends has actually lagged behind the recovery in profits as payout ratios have fallen.  Cash is continuing to build up in corporate accounts.  The S&P 500 aggregate payout ratio is now around 30%, versus 40-50% prior to the past decade.  As a result, trillions of dollars in cash and other liquid assets are sitting on US corporate balance sheets.

 

Still, some bears argue the rally in stock prices cannot last.  They reason it is all hot air driven by policies of the Federal Reserve to hold interest rates down, and when the quantitative easing ends, the house of cards will come crashing down.  To be sure, there will be volatility in the future as there has been in the past, and the unwinding of the quantitative easing program over many years could be challenging.   Nevertheless, the fundamental underpinnings of the stock market’s recent strength are very real.  Earnings and dividend growth has been the driver and will continue to be so for at least the foreseeable future.  We believe this bull market has legs and can likely continue to move higher based on fundamentals alone.

Making the Case against Receiving a Federal Income Tax Refund

FINANCIALHOPE offers three-step plan to replace dependency on refund

 

Millions of Americans celebrate receiving an income tax refund each year.  Many of these same people live each month under the burden of financial hardship, struggling to make ends meet, often falling behind on living expenses and debt obligations.

 

The February poll hosted on the National Foundation for Credit Counseling (NFCC) website revealed that a significant majority of respondents, 58 percent, intentionally plan to always receive an income tax refund, unnecessarily allowing Uncle Sam the use of their hard-earned money, only to have it returned to them without benefit of interest.

 

“Not only is the American taxpayer self-inflicting financial pain, they are doing so with intentionality,” said Gail Cunningham, spokesperson for the NFCC.  “It boils down to a simple choice of determining if it’s more important to have extra money in their pocket each month or once per year.”

 

The average income tax refund in recent years has been in the $3,000 range, or approximately $250 per month.  For many people, that amount can mean the difference between financial solvency and financial distress, yet they continue to have too much money deducted from their paycheck month after month.  Further, although well-meaning, many who receive the refund don’t spend it wisely, and even for those who do, once the money is gone, the cycle of struggling to responsibly pay monthly bills begins all over again.

 

Many consumers argue in favor of an income tax refund saying that it is a forced savings.  That is correct, but there is a better way to save.  The NFCC advises consumers to implement the following three-step program when they receive this year’s refund:

1. Put this year’s refund into an interest bearing savings account. Upon receipt of the refund, seize the opportunity to establish an emergency savings account.  This will protect against the financial unknown and create a position of financial stability.
2. 2.    Adjust W-4 withholding allowances. Although receiving a refund is not a good idea, no one wants to end up owing the government, either.  To determine the correct number of withholding allowances, use the worksheet at www.IRS.gov, then submit the revised form to your employer.  Know that changes such as the birth of a child, a death, or divorce may impact the number of necessary deductions, thus requiring further revisions.  An adjusted form may be submitted at any time during the year.
3. Responsibly allocate additional monthly income as appropriate.  Now that the money that was going to the government is coming to the consumer in the form of a larger paycheck, it is his or her responsibility to make smart decisions regarding how to spend it.  Make it a priority to keep living expenses, the rent or mortgage, utilities, and insurance premiums current.  The next most important payment is any secured loan, for instance a vehicle payment, followed by unsecured debt such as credit cards.  If the savings account has been tapped, replenish it.

This system stops the dependency on an income tax refund, establishes savings, and provides additional money each month in order to remain financially stable.

 

“Since worker’s paychecks are smaller this year due to the Social Security deduction having been increased to its former level, it becomes even more critical that consumers find ways to increase their disposable income.  For those receiving a refund, adjusting withholding allowances is an easy and effective way to put more money into their pockets each month,” continued Cunningham.

 

The actual poll question and answer choices are below:

 

Regarding income tax refunds

1. I intentionally plan to always receive a refund each year = 58%
2. I intentionally plan to never receive a refund = 29%
3. I have not given it any thought = 13%

 

Note: The NFCC’s February Financial Literacy Opinion Index was conducted via the homepage of the NFCC Web site (www.DebtAdvice.org) from February 1 – 28, 2013 and was answered by 828 individuals.

 

FINANCIALHOPE COUNSELING AND EDUCATION is a member of the NFCC.  For help developing a 2013 budget, controlling spending, or any other personal finance concern, please contact FINANCIALHOPE COUNSELING AND EDUCATION at 260-432-8200 or toll free 800-432-0420.  We can also be reached at www.financialhope.org.  Our Fort Wayne office is located at 4105 West Jefferson Boulevard in Fort Wayne, Indiana.

 

FINANCIALHOPE COUNSELING AND EDUCATION is a non-profit community service founded in Fort Wayne in 1965, and a local member of the NFCC.  FINANCIALHOPE COUNSELING AND EDUCATION is committed to helping people gain control of their finances by providing free budget counseling, Debt Management Programs, Financial Education, HUD approved Housing Counseling, approved Pre-File Bankruptcy Counseling and Education.

Nine Lives Media Names Intrasect Technologies, LLC to the MSPmentor 501 Global Edition

Sixth-Annual Report, Formerly the MSPmentor 100, Lists The World’s Top 501 Managed Service Providers (MSPs).

February 28, 2013: Intrasect Technologies LLC has landed on Nine Lives Media’s sixth-annual MSPmentor 501 Global Edition (http://www.mspmentor.net/top501), a
distinguished list and report identifying the world’s top 501 managed service providers (MSPs).

“We are deeply honored to be selected,” said Steve Forrester, President, Intrasect Technologies. “Our staff works very hard to provide the best level of service possible.” “We are not new to managed services,” said Tom Polk, Vice President of Operations, Intrasect Technologies. “We have been providing these types of services since 2004 and with our new telephone systems group we expect our offerings to continue to grow”

The MSPmentor 501 report is based on data from MSPmentor’s global online survey conducted October-December 2012. The MSPmentor 501 report recognizes top managed service providers based on a range of metrics, including annual managed services revenue growth, revenue per employee, managed services offered and customer devices managed.

“MSPmentor congratulates Intrasect Technologies, LLC on this honor,” said Amy Katz, president of Nine Lives Media, a division of Penton Media. “Qualifying for our MSPmentor 501 Global Edition puts Intrasect Technologies, LLC in rare company.”

MSPs on this year’s global 501 list lifted their combined annual recurring revenues 24.5 percent to $2.54 billion. Together, those MSPs now manage more than 5.6 million PCs and servers, and nearly 400,000 smartphones and tablets, according to Joe Panettieri, editorial director, Nine Lives Media.

MSPmentor, produced by Nine Lives Media, is the ultimate guide to managed services. MSPmentor features the industry’s top-ranked blog, research, Channel Expert Hour Webcasts and FastChat videos. It is the number one online media destination for managed service providers in the world.
About Intrasect Technologies, LLC:

Intrasect Technologies, LLC (http://www.intrasecttechnologies.com) utilizes its networking knowledge and engineering experience together with best of breed hardware and software products to design and maintain business networks, voice communication systems and also implement automated manufacturing data collection systems. It has offices in Wabash, Warsaw and Fort Wayne, Indiana.

“Sequessure”

SYM Definition:  Downward pressure on the equity markets due to the looming potential start of sequestration on March 1^st.

The media noise will continue to pick up this week as we approach the March 1st deadline for Congress to act or accept mandatory cuts in spending.  Media accounts are positioning the sequester as a negative for economic growth and the stock market, but we doubt the looming spending cuts will be as negative as they are portrayed.

It only takes a cursory glance at a newspaper or a quick listen to media accounts to hear of the staggering 1.2 trillion dollars in cuts that will be brought on by the sequester.  What gets omitted from these presentations is the fine print; the cuts are spread over 10 years and are a reduction in the growth of spending.  In an economy that generates over $15.8 trillion in GDP annually, first year federal spending cuts would total $85 billion or about .5% of GDP.  The implementation of the budget cuts could, conceivably, have a negative effect on specific government programs and contractors.  However, in our opinion, the overall impact on economic activity should be minimal.

One should also remember that the market’s prior experience with sequestration has been positive.  Indeed, the concept of sequestration came to prominence during the early 1980’s as an attempt to control the growing budget deficit at that time.  On Friday October 4, 1985, Senators Ernest Hollings (D-South Carolina), Warren Rudman (R-New Hampshire) and Phil Gramm (R-Texas), introduced a bill that proposed to balance the federal budget by 1991.  This specific legislation included a procedure called “sequestration” which gave the President the authority to cut spending across the board in order to meet deficit targets.  The proposal was added to an amendment to raise the debt ceiling, which was going to be breached on the following Monday.  That government spending would have to be contained going forward was a concept well received by the market.  The S&P 500 promptly reversed a nine-week, 9% decline and created a launch point for an 89% rally that lasted until August 25, 1987.

Some volatility in market indexes is likely as we approach March 1^st.  However, beyond the immediate, emotional response, we believe sequestration will likely not prove to be a major impediment to the continuing economic recovery, which will ultimately be reflected in positive market movement.

FINANCIALHOPE offers Guide to Disputing Credit Report Inaccuracies

Consumers should take the lead in examining their credit report

 

The accuracy of credit reports has been in the news lately, causing consumers to wonder how error-free their own report is.  Since credit reports are the backbone of the all-important credit score, it is indeed important to fully understand what a credit report is, what consumer protections are in place, and what actions can be taken if errors are found.

 

“Consumers can be their own best advocate to ensure the accuracy of their credit file, but education is key,” said Gail Cunningham, spokesperson for the NFCC.  “If an error is identified, it is the consumer’s responsibility to take immediate action through the proper channels in order to resolve the issue.”

 

The National Foundation for Credit Counseling (NFCC) offers the following Dos and Don’ts to help consumers better understand credit reports and the dispute process:

 

• Do understand the purpose of a credit report.  A credit report is a track record that reflects an individual’s borrowing history.  It also contains information about places of residency, law suits, arrests, and bankruptcies.  The credit reporting agencies sell the information to those with a permissible purpose to review it, such as insurance companies, employers, lenders, and other businesses, so that they can make an informed decision.  Therefore, the information contained in the report may impact loan approval, the rate at which money will need to be repaid, insurance eligibility, housing decisions, and employment.
• Do review the credit report for accuracy.  At www.AnnualCreditReport.com, consumers are allowed one free report every 12 months from each of the major bureaus.  Check the report for errors, confirming that all information is correct.  The NFCC Financial Literacy survey revealed that in spite of it being free, 62 percent of respondents had not ordered a copy of their report.
• Do review the report often.  Frequently reviewing the report allows action to be taken promptly if a problem is found, or if identity theft is suspected.  Reviewing at least three months in advance of a major financial move allows time for most inaccuracies to be corrected.
• Do understand your rights.  The federal Fair Credit Reporting Act (FCRA) provides consumers with protections around the accuracy and privacy of information in their credit file.  The FCRA holds both the credit reporting company and the entity that provided the information to the bureau responsible for investigating and acting upon the dispute.  The bureaus have dispute resolution

processes in place, but it is up to the consumer to initiate the process by submitting the dispute form either online, by mail or by phone.

• Do expect a timely response.  The FCRA requires credit reporting companies to investigate the items in question, usually within 30 – 45 days of the dispute being filed.  The bureau receiving the dispute must forward all relevant information to the source of the information, thus beginning the investigation process on their end.  After the provider’s investigation is complete, the results are

sent back to the bureau.  If the information provider finds the disputed information to be inaccurate,

it must notify all three credit reporting companies, allowing them to each correct the information contained in their files.

• Don’t think that all errors have an equal impact.  Some mistakes on reports can have a negative impact on the credit score, while others are not material.  Examples of errors to address immediately are those containing information that does not belong to you, account inaccuracies, credit lines with limits listed as lower than they actually are, or negative information that has outlived the allowed reporting time.
• Do add a statement explaining the circumstances.  If an entry is disputed, but the consumer disagrees with the results of the investigation, he or she is allowed to add a 100 word or less Statement of Dispute to be included with each future credit report, as well as to those who received a copy of the report in the recent past if requested.
• Don’t expect negative information to be removed.  If information is negative, but true, it needs to remain on the report.  Only time can remove it.  A credit reporting agency is allowed to report most accurate negative information for seven years, while bankruptcies can remain for 10 years.  Unpaid judgments can be reported for seven years or until the statute of limitations runs out, whichever is longer, while some information has no limit on how long it can be reported.
• Don’t use a credit repair company offering a quick fix.  There is little a credit repair business can do for you that you can’t do for yourself, and do it for free.  Further, the credit repair companies may charge consumers high fees and deliver few, if any, results.  Although some may attempt it, credit repair companies are not allowed to ask for a fee in advance of any service being delivered, as this is prohibited by the Credit Repair Organizations Act.  Frivolous challenges to a report are in no one’s best interest, and consumers should steer clear of anyone offering a quick fix.

“Since the credit score is based on the information in the credit report, one of the smartest financial moves a consumer can make is to obtain his or her credit report and give it a thorough once-over,” continued Cunningham.

 

FINANCIALHOPE COUNSELING AND EDUCATION is a member of the NFCC.  For help developing a 2013 budget, controlling spending, or any other personal finance concern, please contact FINANCIALHOPE COUNSELING AND EDUCATION at 260-432-8200 or toll free 800-432-0420.  We can also be reached at www.financialhope.org.  Our Fort Wayne office is located at 4105 West Jefferson Boulevard in Fort Wayne, Indiana.

 

FINANCIALHOPE COUNSELING AND EDUCATION is a non-profit community service founded in Fort Wayne in 1965, and a local member of the NFCC.  FINANCIALHOPE COUNSELING AND EDUCATION is committed to helping people gain control of their finances by providing free budget counseling, Debt Management Programs, Financial Education, HUD approved Housing Counseling, approved Pre-File Bankruptcy Counseling and Education.