OCTOBER 2013 OCTOBER 16TH: Special lunch meeting on energy issues - See ad inside!
OCTOBER 18TH: Nancy Mistele, Director, WI Department of Administration, Office of Business Development
INSIDE THIS ISSUE:
LAUBER: ADVISORY BOARDS: ARE THEY RIGHT FOR YOU?
GERARD: RENEWABLE FUEL: UNWORKABLE TO UNSAFE
KEATING: OBAMACARE: GENERATING WORRY FOR SMALL BUSINESS
no business is small At AT&T a storefront is as important as a skyscraper. Small businesses are the backbone of our economy. They are the engines of new opportunity and growth. Having access to innovative technologies drives success. And we’re here to make sure you’re connected. Always. AT&T is proud to support the Independent Business Association of Wisconsin.
© 2012 AT&T Intellectual Property. All rights reserved.
IBA MEDIA LINKS Executive Director Steve Kohlmann Heritage Printing / Cultivate Communications President Steve Van Lieshout K & S Technologies . President Elect 2014 Membership / Sponsorship John Weber Hypneumat
Manufacturing Message from Governor Walker
To view, click here.
VP. State & National Programs Jeff Hoffman Judson & Assoc. Treasurer Casey Malek SIKICH
Directors Bart Adams SIKICH Ann Barry Hanneman Simandl Law Group S.C Heather Baylor Park Bank Richard Blomquist Blomquist Benefits Jason Kuwayama Godfrey & Kahn Tom Boelkow BSI Design, Build, Furnish
Lt. Governor Kleefisch The nine most terrifying words: “I’m from the Government and I’m here to help.
To view, click here.
Dave Drumel Staff Electric
SPECIAL MEETING
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SPECIAL MEETING
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SPECIAL MEETING
“North American Energy Independence & Wisconsin's Energy Future”
Wednesday, October 16th Discover all the exciting possibilities in North America with oil and natural gas. How will restrictions on coal production affect your business? Learn the truth about the hydraulic fracturing process and why Wisconsinʼs silica sand is so vital.
SPECIAL GUEST SPEAKER: John Felmy Chief Economist American Petroleum Institute, Washington D.C. John Felmy is responsible for overseeing economic, statistical and policy analysis of the Institute and has more than 25 years experience in energy, economic and environmental analysis.
WHEN: Wednesday, October 16th - 11:30 AM - 1:00 PM WHERE: Lemberg Electric Training Center, 4085 North 128th Street COST: Just $10.00 - Box lunch included!
For an accurate lunch count you must preregister at IBAW.com or click here.
Milwaukee’s Night in DC Steve Kohlmann, IBAW Executive Director
I was fortunate enough to attend Milwaukee Night in Washington, D.C. last week at the Rayburn Office Building directly across from the Capitol. It was well attended and it was nice to see southeastern Wisconsin business so well represented in our nation’s capitol. Harley Davidson was represented as well as Usinger’s brats. Washington, D.C. people devoured the brats like they’ve never seen them before. We paid too much for dinner, got familiar with the DC metro train, stumbled across a DC Metro Money Train complete with blacked out window’s and well armed guards standing in the doorway with a look of ‘Do Not Enter’ on their face. Spent some quiet time at the World War II Memorial ( an Honor Flight arrived at the same time we did). I had a nice, one - on - one casual conversation with Senator Johnson on the steps of the foyer about our concerns about ObamaCare. The conversation went about 5 minutes while we both worked on a Leinenkugel’s beer before the Senator was detected and mobbed - but I had 5 minutes of his attention. I also had a nice cordial chat we Senator Tammy Baldwin about the same subject. Congressman Jim Sensenbrenner was also there and we talked over Wisconsin cheese. The event was great and well attended - something you might want to consider joining next year. Photos of the event are shown in this magazine. And now a word about the upcoming Events Schedule... Holy Smokes do we have a jammed packed schedule of events coming up. Here’s a quick recap of what’s happening - check IBAW.com or this issue for further details and registration information. October 16th - Special Lunch Meeting: ‘North American Energy Independence & Wisconsin’s Energy Future’ October 18th - Monthly Meeting - “How Can the State of Wisconsin Help Your Business Grow?” Nancy Mistele, Wisconsin Department of Administration, Business Development November 15th - Monthly Meeting: “What the Affordable Care Act Means to Your Business”, Eric Ness, Director, Small Business Administration of Wisconsin, Milwaukee Office December 20th - THE BIG EVENT - “The Entrepreneurial Spirit of Wisconsin”. A great morning of motivation and inspiration! Our speakers will be Gov. Scott Walker (invited) along with Craig Culver, President & CEO of Culver’s Restaurant. IBAW will also be awarding the Legislator of the Year Award. This event takes place at the Wisconsin Club in the main ballroom. This is sure to be a well attended meeting so registration is now open. Believe it or not, we’re already hard at work for events and new items for 2014. That’s about all for right now. I have a busy morning of logistics and you have some events to register for. See you at the next meeting! Steve Kohlmann IBAW Executive Director
Friday, December 20th “THE ENTREPRENEURIAL SPIRIT OF WISCONSIN ”
Invited Governor Scott Walker
Craig Culver Culver’s Restaurant
Plus Legislator of The Year Award
Get Inspired, Get Motivated! Network With Top Business Leaders Elected Representatives Also In Attendance! Wisconsin Club - Main Ballroom, 900 West Wisconsin Avenue 7:00 AM - 7:30 AM - Networking
7:30 AM - Breakfast
9:00 AM - Adjourn
*Save The Date* Registration now open! Click here! Event Sponsor: Media Sponsor:
Business Presentation Series OCOBER 18TH - Nancy Mistele Director, Wisconsin Department of Administration, Office of Business Development The Office of Business Development is part of the Wisconsin Department of Administration and was created in 2012 to give business a voice in guiding government reforms. Director Nancy Mistele serve as the ‘concierge’ service for business, supporting business interests from within government. As advocates, they seek business input to guide common sense regulatory reforms, help resolve everyday problems you encounter when working with state agencies and can direct you to existing resources and support services that make it easier to do business in Wisconsin! Working statewide with business owners, trade associations, affiliated organizations and Chambers of Commerce we ensure that business has a seat at the table and their voices are heard at the appropriate agency or in the Legislature. Working with the Small Business Regulatory Review Board, our goals are to get government rules and red tape out of the way so you can focus on running your business!
Click here to register.
LOCATION! !
THE WISCONSIN CLUB ! 900 W. WISCONSIN AVE. MILWAUKEE
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REGISTRATION & NETWORKING
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BREAKFAST & PROGRAM
9:00 AM !
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PROGRAM ENDS
November 15th Meeting “Affordable Care Act & Small Business” Eric Ness Small Business Administration of Wisconsin
Is an Advisory Board Right for You? John Lauber, Lauber CFOs
No Business is too small to benefit from an Advisory Board. Advisory Boards should not be confused with a formal Board of Directors. An Advisory Board does not have the legal requirements or fiduciary responsibilities imposed by Sarbanes-Oxley on public companies. As the name implies, Advisory Boards are there to advise. The CEO has no legal obligation to follow their advice. However, if a board is made up of trusted professionals, following their advice is normally not a problem. What’s the Value: •
An Advisory Board is there to help you, not control you.
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A fresh set of eyes.
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A strategic, big picture perspective. Experience to help you navigate through the minefields of business.
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A different set of contacts that can benefit your company.
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Credibility, especially for young companies.
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Skill sets you may not be able to buy.
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Accountability for the CEO.
10 Steps to Establishing an Advisory Board: 1.
The CEO should start by defining the objectives for the board. Why do you want an Advisory Board? Typical objectives are: to help the company get to the next level; to provide leads to new customers; to be a sounding board for new ideas; to serve as a mentor for the CEO’s professional development; to provide skill sets missing in the management team; to understand the strategic vision and hold management accountable.
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Develop a profile of the members you would like to attract i.e. a financial person with IPO experience; a
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sales leader from the consumer products industry; a CEO who has already been where you want to go. In most cases, I believe in not including people whose advice you already receive. You may want to invite your accountant, attorney or banker to some of your meetings but I would not include them as members of your Advisory Board. Also, this is not the place for your golfing buddies unless they also happen to have that unique experience you need. You want people who can provide objective advice.
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Determine how many members you would like on your Advisory Board and if they should be local. This will impact how you interface with your board.
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Start with your current contacts. Who do you know that you respect and trust and who also meets your profile. Share the profiles with trusted contacts and ask who they recommend.
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Make a list of potential members.
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Define your expectations for your board members i.e. how often will you meet; how often will you communicate between meetings; how will you keep them informed.
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Decide how you will compensate your board. While most people who serve on Advisory Boards don’t do it just for the money, compensation is important because it sends a signal that you are serious. Advisory Board members can be compensated differently depending on the circumstances; hourly, a per-meeting fee, monthly retainer, stock options or a pay-out contingent on achieving a goal could all be appropriate. Decide what is right for you.
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Develop “your pitch” When you pick up the phone or meet with a potential Advisory Board member, you need to have an organized story to tell. What are your objectives, what’s in it for them, what are your expectations of them?
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Finally, with all this preparation, all that’s left is to close the deal. Ask for their help and get them to say yes.
Now that you have your Advisory Board, how often should you meet and how to get the most from their involvement? •
You might consider a one-on-one meeting with each board member to get them up to speed before the first group meeting. Ask them how much background information they would like and what the best way to
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communicate with them is. If your board members are local, a quarterly group meeting may be a good starting point although circumstances might dictate more frequent meetings.
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If members are not local, the logistics of getting everyone together might be a problem. In that case work one on one with the members during the year on areas of their expertise and get the group together once
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or twice a year. I believe the synergy of the group can bring increased value. Prepare for each meeting. Publish an agenda in advance. Certainly financial results should be part of each meeting, but consider having each of your key manager’s report on their area on a rotating basis.
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Be open and honest with your Advisory Board. Be willing to expose your weaknesses. You picked them because you trusted them and hopefully they are better than you in certain areas. They are there to help
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you and your business become more successful. Meet consistently, not just when you have good news to report. This is not about getting pats on the back. It is about growing and improving your business.
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Determine what information you will provide to your Advisors in between meetings and do it consistently. Provide feedback on action taken and the results of their suggestions.
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Use your board members. If you have questions between meetings, give them a call or send an email. They are committed to helping you.
MSI General Awarded Contract for Brookfield Christian School Expansion Awarded To IBAW Member MSI General MSI General has been awarded a contract to design, engineer, and construct a 13,775 square foot addition to the existing school, located at 14155 W. Burleigh Road, Brookfield, that will provide more classroom space, an expanded Library/Multi-Media Center, Art Room, and a regulation sized gymnasium. The project is scheduled to start in October, 2013, and be complete in August, 2014.
IN THE FALL OF 1963, MILWAUKEE CHRISTIAN SCHOOL opened the doors to its first eager students with a vision to provide excellent academic training with a Christian perspective on all of life. Today, academic excellence within a Christ-centered atmosphere continues to be the focus of the educational experience at Brookfield Christian School (BCS), and now they are having a positive impact on the lives of hundreds of students.
MSI General Corporation, a design/build general contractor located in Oconomowoc, is a leader in the design and construction of commercial, educational, industrial, municipal, religious and retail facilities in southeastern Wisconsin. MSI General was founded in 1957 and has over 55 years in the design/ build industry.
Renewable Fuel Standard: From Unworkable to Unsafe Jack Gerard, President & CEO, American Petroleum Institute
There is growing concern from livestock groups, environmentalists, consumer advocates and refiners that the EPA’s mandates for greater amounts of ethanol in gasoline are a threat to our engines and could damage our economy. The Renewable Fuel Standard (RFS) requires refiners to blend increasing volumes of ethanol into the nation’s fuel supply regardless of demand. Increased fuel efficiency and the economic slowdown have reduced demand, but EPA’s requirements for higher ethanol are unchanged and this could mean trouble for consumers and cars. Vehicle Damage •
To meet unrealistic ethanol targets, the Environmental Protection Agency (EPA) approved a 15-percent ethanol blend (E15) before vehicle testing was complete
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While the current 10-percent ethanol gasoline (E10) is safe, extensive testing has determined that E15 causes engine and fuel system damage that could leave millions of vehicles broken down
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AAA, along with Dodge, Toyota, Nissan and other automakers caution car owners against using E15 and warn that engine damage caused by the fuel will not be covered by warranty
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API is calling on the Obama administration to exercise its waiver authority to prevent E15 implementation, and we’ve joined with numerous other consumer and agriculture groups to file a brief with the Supreme Court to strike down the E15 mandate
Economic Damage RFS mandates could drive up the cost of diesel by 300 percent and the cost of gasoline by 30 percent by 2015, according to a study by NERA Economic Consulting that projects the following economic impacts: •
Decrease U.S. GDP by $270 billion in 2014 and $770 billion in 2015
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Decrease worker take-home pay by $27 billion in 2014 and $580 billion in 2015
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Additionally, the National Association of Convenience Stores estimates it will cost $10 billion to modify gas station infrastructure to safely use blends higher than E10; 97 percent of gas stations are independently owned
The only solution for such a thoroughly flawed and damaging policy is total repeal.
IBAW Survey Results
September Meeting: Richard Chandler, Secretary, Wisconsin Department of Revenue Wisconsin Secretary of Revenue, Richard Chandler was our guest speaker for our September meeting. His discussion touched on: - Tax Reform Goals - Manufacturing Tax Credits - Rate cuts to taxpayer - Wisconsin’s current economic conditions - Holding the line on property taxes - Improving customer service in the Department Manufacturing tax credits apply against taxes on income from manufacturing activity in Wisconsin which is phased in over 4 years: Tax year 2013 = 1.875% Tax year 2014 = 3.750% Tax year 2015 = 5.526% Tax year 2016 & beyond = 7.90% (corporate income tax) & 7.65% (individual income tax) In the Q & A portion of the presentation, Bob Gross of Gross Automation informed Secretary Chandler of his recent state audit which he described as “surviving a terrorist-like attack by the Department’s audit team.” Mr. Gross & Secretary Chandler were able to have a discussion after the meeting regarding his experience.
PHOTOS TOP TO BOTTOM: Secretary Chandler discusses Wisconsin’s tax climate. Jim Brandenburg of SIKICH and Secretary Chandler compare notes on tax related issues. IBAW member Al Luebben of Tri City National Bank welcomes guest Yvonne Ochilo of Ochilo Law Offices. Ms. Ochilo’s firm has a specialty of International Law with offices located in Nairobi, Kenya as well as Milwaukee.
Milwaukee Night In Washington D.C. The IBAW was well represented on September 18th Executive Director Steve Kohlmann attended Milwaukee Night In Washington, D.C. at the Rayburn Office Building across from the Nation’s Capitol. Special thanks to our friends at the Milwaukee Metropolitan Chamber of Commerce for the invitation to participate in the event.
Chatting with Senator Tammy Baldwin regarding the challenges businesses face with the impending Affordable Care Act.
MSI President & CEO, Dirk Debbink, shares his thoughts with Senator Ron Johnson
Waukesha Metal Products, Michael Steger discuss the gap in hiring and how hiring veterans can play a part filling the employment gap.
Briggs & Stratton Laura Timm, Vice President of Corporate Communications & Public Affairs shares her concerns about emission regulations with engines from China.
You never know where you’ll see the IBAW support decal...
U.S. Small Business Administration Wisconsin District Office 310 West Wisconsin Avenue, Suite 580W Milwaukee, WI 53203
Tel: 414-297-3941 Fax: 414-297-1377 TDD: 608-441-5333 www.sba.gov/wi
Loan Fact Sheet Qualifying Business Nearly all for-profit businesses – must fit size standards, general guides include under 500 employees in Manufacturing, under 100 employees in the wholesale business, under $7 million in retail and under $4.5 million in services (exceptions exist to the above size standards) 504 alternative size standard, $15 million net worth, net profit after taxes under $5 million
-Some businesses are not eligible common ones include passive businesses (business with rental properties, business with restricted patronage, life insurance company, business primarily engaged in lending) Use of loan For any legitimate business purpose, including machinery and equipment, real estate, working capital inventory and refinancing of existing debt Loan Maturity/Size Working capital – 7 years Machinery & equipment – 10 year Real Estate – 25 years Interest Rate Prime* plus 2.25% under 7 years Prime plus 2.75% over 7 years Current prime rate 3.25% (9/19/13) Additional 1% for loans under $50,000 additional 2% for loans under $25,000 No minimum loan size, Maximum loan size is $5 Million (Max. guaranty to lender $3.75 million) No guaranty fees beginning 10/1/13 for loans under $150,000 Application Requirements -Good character -Management Expertise -Adequate equity injection 20% (may be more) -Collateral (though you may receive loan without adequate collateral) -Cash Flow For existing business, lender will review your financials Apply through the bank Free counseling is provided by SCORE (Service Corps of Retired Executives), SBDC (Small Business Development Centers), and Women’s Business Centers (WWBIC). Tammie Clendenning, Economic Development Specialist, 414.297.4089, tammie.clendenning@sba.gov America’s Small Business Resource
IBAW SALUTES WWBIC Congratulations to our friends at the Wisconsin Women’s Business Initiative Corporation for helping foster the growth of new businesses in Wisconsin. On Tuesday, November 5th, the WWBIC will be hosting their annual luncheon at the Potawatomi Bingo and Casino. Please consider attending the luncheon and supporting an organization that impacts new businesses in Wisconsin.
Job Title: Business
Owner
WWBIC Annual Luncheon Come along with us and make a difference Tuesday, November 5, 2013 11:00am - 1:30pm
W
Potawatomi Bingo and Casino Expo Center 1721 West Canal Street Milwaukee, Wisconsin 53233 e know that it takes more than
simply having a good idea to achieve your dream of business ownership or growth.
OVER
At WWBIC, we work with those interested in launching or expanding a successful small business in Wisconsin. DREAMS to WORK
WWBIC Services Include: s "USINESS ,OANS
s "USINESS 0LANNING
s &INANCIAL AND "USINESS 7ORKSHOPS Contact WWBIC if launching or expanding a business is in your future.
Milwaukee | Madison | Racine | Kenosha | Statewide
414-263-5450 | www.wwbic.com
For more information contact Lisa Sullivan, Program & Event Coordinator at Lisa.Sullivan@wwbic.com
ObamaCare Continues to Generate Small Business Worries Raymond Keating, Chief Economist, Small Business Entrepreneurship Council
During the debate over ObamaCare, numerous concerns were brought up from a small business perspective. Of course, supporters dismissed such worries, claiming that businesses, including small firms, would benefit tremendously. Understanding that more government activism, including increased regulations and taxes, is never a free lunch, entrepreneurs overwhelmingly doubted the grandiose claims that ObamaCare would be a good deal for small businesses. And as matters have proceeded since ObamaCare was signed into law in 2010, costs and concerns have only mounted. Consider a few recent reports on rising ObamaCare troubles for small businesses and their workers. • Cutting Worker Hours. The threat of per-fulltime-employee fines under ObamaCare has led to a wide array of businesses cutting employee hours. A September 11 Fox Business News story noted the following: “The Obama administration announced in July that it would delay the so-called employer mandate until 2015. ObamaCare requires that companies with 50 or more employees provide health insurance benefits to every fulltime worker, considered to be anyone who logs an average of 30 or more hours a week. Employers will be hit with a penalty for each full-time employee who isn’t covered and instead purchases insurance through a federally subsidized exchange.” Although the administration delayed implementing the rule until 2015, the penalties for that year will be based on staffing levels recorded in the second half of 2014 at the latest. As a result, several large companies and a long list of smaller businesses have changed their policies to cap weekly hours at 29.” • ObamaCare and Part-Time Jobs. Job creation continues to badly under-perform during this recovery. It’s not just about slow job growth, but also a high level of part-time jobs. A Reuters report recently highlighted the ObamaCare role on the part-time jobs front: “Faltering economic growth at home and abroad and concern that President Barack Obama’s signature health care law will drive up business costs are behind the wariness about taking on full-time staff, executives at staffing and payroll firms say… Executives at several staffing firms told Reuters that the law, which requires employers with 50 or more full-time workers to provide healthcare coverage or incur penalties, was a frequently cited factor in requests for part-time workers. A decision to delay the mandate until 2015 has not made much of a difference in hiring decisions, they added.” Later, it was noted: “Obamacare appears to be having the most impact on hiring decisions by small- and medium-sized businesses. Although small businesses account for a smaller share of the jobs in the economy, they are an important source of new employment. Some businesses are holding their headcount below 50 and others are cutting back the work week to under 30 hours to avoid providing health insurance for employees, according to the staffing and payroll executives.”
• Harsh Reality for Former ObamaCare Supporter. Strangely, there have been some business owners who actually supported ObamaCare’s passage. The Chattanooga Times Free Press ran a fascinating report on August 29 about one such business owner who then got hit with the economic and business realities of ObamaCare. Link Christiansen, operator of Tennessee Awning Co., supported ObamaCare, believing that it would help people. As noted in the report, “He didn’t realize how much it would cost him, and he’s horrified by how much it’s going to cost his employees. ‘Some of those regulations about what the costs of my employees are going to be are horrendous, and I can’t understand the math,’ he said. ‘Listening to the insurance providers and people providing webinars on how to figure out what our costs are going to be in this program, it’s gigantically troublesome to me.’ Not only does the math make his accountant shudder, Christensen is fairly certain that his employees are going to totally lose all coverage, he said.” • Threat of $100 Per-Day Fine. A September 9 Fox Business News report highlighted a potential per-employee fine looming over small businesses: “Beginning Oct. 1, any business with at least one employee and $500,000 in annual revenue must notify all employees by letter about the Affordable Care Act’s health-care exchanges, or face up to a $100-per-day fine. The requirement applies to any business regulated under the Fair Labor Standards Act, regardless of size. Going forward, letters are to be distributed to any new hires within 14 days of their starting date, according to the Department of Labor.” In the Reuters article mentioned above, it was noted, “Some economists, however, say the surge in reliance on parttime workers will fade as the economy strengthens and businesses gain more certainty over how they will be impacted by Obamacare.” Two problems exist with this assessment. First, it remains difficult to see U.S. economic growth making the big leap from its dismal performance during this recovery to where it should be in recovery/growth periods. Real GDP growth has averaged a mere 2.2 percent during this recovery when we should be running at double that rate. Second, uncertainty about ObamaCare is playing a big role in holding down hiring and hours, but greater certainty will not necessarily mean increased hiring and hours given the cost realities of ObamaCare. Will business owners simply shift from worrying about the threat of future cost issues to worrying about the reality of higher costs? The answer is most likely: Yes. •
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THANK YOU TO OUR SPONSORS... ATT Industrial Towel & Uniform Blomquist Benefits Associated Bank SIKICH Godfrey & Kahn Park Bank Lauber CFO’s von Briesen Vrakas / Blum Advantage Leasing
Grace Matthews Simandl Law Group, S.C. BSI - Design, Build, Furnish K & S Technologies Judson Commercial Real Estate Hypneumat Reinhart, Boerner, Van Deuren, S.C. Media Partner: Cultivate Communications Heritage Printing
IBAW 960 Timber Pass Brookfield, WI 53045 Office: 262-‐844-‐0333 WWW.IBAW.COM
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PAYING BY CHECK ? Make checks payable to IBA ʹ and mail to: IBA 960 Timber Pass Brookfield, WI 53045 WANT TO PAY ONLINE? You can also pay by Mastercard / Visa at the IBA Membership page. www.ibaw.com ________________________________________________________________________ The Independent Business Association of Wisconsin is a not-for-profit entity filed with the IRS under 501(c)(6) of the Internal Revenue Code. As a not-for-profit association, the members of The Independent Business Association, Inc. are allowed to deduct a percentage of dues that are not used for lobbying purposes. For the year 2013 based on the total income of the association and the lobbying expenses as reported on the Wisconsin State Ethics Board Lobbying reports for 2011 the percent of dues that were used for lobbing purposes is 10%. Therefore, the percent of dues that would be tax deductible is 90%.
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Quality programming every month. That’s IBAW.
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