EricManterfield

Recent Articles

Have a plan to motivate and keep key employees

December 29, 2008
The success of many closely held businesses is dependent on their key employees. These employees may not be family members and probably will never be owners of the business. Nevertheless, their efforts help increase the value of the business.
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FAMILY BUSINESS: Who will protect your family, business when you're gone?

December 31, 2007
No one is immortal, of course. When you are no longer able to do so, who will preserve your business and protect your family as you do today? There are two interrelated aspects to this simple question: Who will manage the business and who will be trustee of any trusts you may create for your family? A critical element of family businesssuccession planning is the selection and training of the next generation of managers. Can more than one child serve...
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FAMILY BUSINESS: Circumstances dictate different stock for different children

August 27, 2007
Most owners of a family business have one class of common, voting stock. One challenge faced by these owners is how to divide the stock among their children, who may have very different personal circumstances. It may not make sense to give each child the same stock. Suppose, for example, that you have three children: Your daughter is active in the business and is married with two young children. Unfortunately, her marriage is troubled and a divorce is not out...
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FAMILY BUSINESS: Warning: Inevitable conflicts ahead for siblings

April 30, 2007
If you have at least one child working with you in the family business, it is virtually inevitable that conflicts among your children will arise at your incapacity or death. You may have a "business child" and a "non-business child." So long as you are alive and well, you can resolve any conflicts between them. But what happens when you become incapacitated or die? Sibling rivalry can not only destroy what you have worked so hard to build, but it...
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FAMILY BUSINESS: Reorganize family business to treat all children fairly

July 31, 2006
Many family-business owners have children who work with them in the business as well as children who do not. The challenge they face is simply put: How can they treat fairly those children who will not inherit the business? There may not be enough non-business assets to give to the children who don't work in the business. Life insurance, payable to the non-business children, is sometimes suggested, if the business owner is insurable and the premiums are affordable. Some estate...
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FAMILY BUSINESS: Indiana Square damage offers lesson in disaster planning

April 24, 2006
The incident drove home the importance of disaster planning. When the storm struck at 10 p.m. that Sunday, who was prepared for the emergency? Employees were told not to come in the next morning, but how would they do their jobs? What files could be retrieved? Would computer systems work on Monday and later that week? What would happen to incoming and outgoing telephone and e-mail messages? The questions and potential problems were endless. Each owner of a family business...
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FAMILY BUSINESS: Are you protecting your business from potential disasters?

September 26, 2005
The recent news from New Orleans and Mississippi points out the need for family businesses to have disasterrecovery plans. Fortunately, we have little in Indiana to worry about from hurricanes, but other disasters are not uncommon. Consider the possi ble catastrophes that might strike your business. What have you done to protect the business against the consequences? Business-continuation and other insurance can mitigate the consequences of a wholesale destruction of your business facilities after a tornado or other natural disaster....
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FAMILY BUSINESS: Consider having lawyer audit your business Small doses of advice from all of the professionals you consult with can prevent serious problems in the future

February 28, 2005
Many family business owners view their lawyer as a necessary evil. It's almost as though we carry some deadly disease; call your lawyer only when the life of your business depends on it! But just as physicians have learned to control smallpox with small doses of vac cine, administered over time, the owners of a family business can also use regular doses of lawyers and other advisers to minimize the risks of the many problems that can put your business...
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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

  4. GOOD DAY to you I am Mr Howell Henry, a Reputable, Legitimate & an accredited money Lender. I loan money out to individuals in need of financial assistance. Do you have a bad credit or are you in need of money to pay bills? i want to use this medium to inform you that i render reliable beneficiary assistance as I'll be glad to offer you a loan at 2% interest rate to reliable individuals. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Horse Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans. Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You can contact me via e-mail howellhenryloanfirm@gmail.com Yours Sincerely MR Howell Henry(MD)

  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

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