SBJ - October 2012 by The Southern Illinoisan

OCTOBER 2012

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1st Bank & Trust of Murphysboro ........19

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No reason to rush: No matter what stage of life you have reached, if your assets require the assistance of a financial planner for growth and/ or protection, you are facing a major decision. Yet some people move very quickly in picking a financial adviser, often from the recommendations of family and friends and many times contracting with the first planner they meet. A better plan is to prepare a list of critical questions in advance and determine who best fits your specific needs. Page 7

More bad news: For the second consecutive month, the unemployment rate rose in all 18 counties of Southern Illinois. The biggest jumps were 2.3 percent in Jackson County, 2.2 percent in Pope County and 1.9 percent in Massac County during June, the most recent month for which complete statistics are available. New vehicle sales slumped in most counties during the month. Pages 12-13

WORKPLACE Job descriptions can be an asset: When done carefully and correctly, job descriptions can be an asset for your business and staff. When getting started on creating a job description, plan to craft the description to match the position and not the person holding it. A proper job description strikes the middle ground between being too specific and too general. It’s important to establish essential functions, the key parts of the job and to ensure each job description includes the phrase: ‘other duties as assigned.’ Page 9

ACHIEVEMENTS Who is in the news? Find out who has been hired, who has been promoted or who has received an award for efforts in business. Make sure you check out our newest ‘Faces in the News’ collection of business portraits and learn more of achievements and honors in regional businesses. If you know of a business or person who deserves special recognition for advanced training, a unique honor or a business expansion, please let us know at sbj@thesouthern.com. Pages 16-20

Architechniques, Ltd. ............................ 5

Bill Ecker, State Farm Insurance ............5

Casey Communication........................ 22

Datalock .......................................... 15

Fast Truck and Trailer Service ................ 5

John A. Logan College .......................... 8

Occupational Performance & Rehab .. 20

Pepsi MidAmerica .......................... 3, 22

ON THE COVER Shoppers dig through bins of discounted shirts at Black Diamond Harley-Davidson in Marion. (The Southern File Photo).

SIU Credit Union ................................ 24

SIU Small Business Development ........20

Publisher: Bob Williams 618-351-5038

Southern Illinois Healthcare................ 17

Southern Illinoisan. Contact us via mail at 710 N. Illinois Ave., Carbondale, IL 62901, or at P. O. Box 2108, Carbondale, IL 62903. Also reach us on the Web at www.sbj.biz and via email at SBJ@thesouthern.com. The Journal is published 12 times per year monthly, and mailed to businesses, community development leaders, chambers of commerce members and other professionals in Southern Illinois. Copyright 2011 by

Editor: Gary Metro 618-351-5033 Advertising: Mark Dynis 618-351-5815

618-997-3356, or by visiting our website.

Williamson County Airport....................22

Online: JC Dart 618-529-5454, ext. 5183

Southern Illinois University ................ 10

Database Coordinator: Mark Doman 618-351-5042

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OCTOBER 2012

SOUTHERN BUSINESS JOURNAL

What’s the Buzz Community Leaders Breakfast to focus on reform and ethics in government BY GARY METRO SBJ EDITOR

David Yepsen has seen the reputation of Illinois reduced to a punch line for latenight comics during his tenure as director of the Paul Simon Public Policy Institute at SIU Carbondale. Metro Yepsen doesn’t think it’s funny, though. “It’s not a laughing matter anymore,” he said. “Civic corruption in Illinois is hurting us in the drive for economic development.” Yepsen and two of his Simon Institute colleagues, John Jackson and Charles Leonard, will talk about the state’s need for reform and ethics in government

Tuesday, Oct. 16, in a Community Leaders Breakfast sponsored by The Southern Illinoisan and Southern Business Journal. The session begins at 7 a.m. at John A. Logan College in Carterville. Yepsen, Jackson and Leonard will provide some of their information from an “Ethics & Reform Symposium” presented Sept. 27 to 28 at the Union League Club in Chicago. The information will include polling data from a Simon Institute poll on the attitudes of Illinois voters toward reform. Yepsen said he hopes the sessions in Chicago and Carterville will yield new strategies for governmental reform and raising the bar on leadership ethics. One possibility would be to establish training programs for newly elected officials that would offer help on making government more transparent and responsive. Such a program could be organized through

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Deadline to register is Oct. 5

the Simon Institute, he said. “I want to get some ideas for what else we can do in Illinois. We’ve tried a lot of things, but I don’t believe anyone would say we’ve tried too much,” Yepsen said. “We’ve got to do something Yepsen more than making what’s already illegal more illegal.” Yepsen said a portion of the breakfast program in Carterville would be devoted to seeking ideas for reform and ethical improvements. Leaders in businesses and communities across Southern Illinois attend the breakfasts, and this one includes a special invitation to all of the region’s mayors, all federal and state

Jackson

Leonard

elected officials in the region, along with the many city council members and chiefs of police and fire departments. Registration is required for the Community Leaders Breakfast. The cost is $15 per person and includes a full breakfast. To register, call The Southern Illinoisan at 618-351-5002 or register online at sbj.biz by Oct. 5.

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SOUTHERN BUSINESS JOURNAL

OCTOBER 2012

Cover Story Local retailers comment on expectations for holiday sales BY LES O’DELL SBJ CORRESPONDENT

Holidays are a time of dreams and wishes — not just for little ones hoping for presents, but also for countless retailers and business owners. It has been said that the months of October through December can make or break the entire year for a small business. So, what are the expectations and hopes of Southern Illinois business owners for the 2012 holiday season? And, how are they preparing for such a critical time? For many retailers, holiday dreams include increase traffic in their stores and the joyful ringing of holiday cash registers. While national expectations are for an increased number of shoppers and slightly higher receipts, local business leaders are very cautious in their expectations for 2012. ShopperTrak, a national company that measures and analyzes foot traffic trends for retailers, forecasts a 3.3 percent increase in holiday retail sales this year. “Retailers have reason to be optimistic about this season. It’s clear that foot traffic is increasing and month-overmonth sales continue to be better than expected,” ShopperTrak founder Bill Martin says in a press release. Traditionally, the last quarter of the year accounts for about 20 percent of annual retail revenue. Yet, hope among some Southern Illinois business owners is to just fare as well as last year. “It’s tough to have a crystal ball, but I’m reluctant to say that this year will be as good as 2011,” Gary Gordon, owner of Alligator Music in Sparta, says. “There are a number of reasons. People seem to be more fearful, and the price of gas is up.” Sam Cox, who co-owns My Favorite Toys in Carbondale and Mount Vernon with his wife, Suzanne, says he expects little to no increase over last year. “We’re expecting an adjustment to the new world, dealing with the economy in general, the local economy and the growth of online sales,” he says. “We’re working on adjusting and figuring out how we can be successful within those

Twas the months before Christmas and all across the miles Store owners and shopkeepers were readying shelves and aisles. Inventory, sales and promotions were all set With high hopes that holiday goals would be met.

THE SOUTHERN FILE PHOTO

Sam Cox (left), co-owner of My Favorite Toys, straightens a book display while store manager Christian Peacock fetches an Uglydoll for a customer at University Mall in Carbondale.

parameters of the new reality. The bottom line is I expect sales to be flat. I won’t be disappointed if sales are the same as last year.” Both businessmen say local retailers are feeling the increase in competition from Internet stores. “Amazon and the other major online

players have affected everybody, including the big guys with brick and mortar stores,” Cox says. Gordon, who notes that this will be Alligator Music’s 26th Christmas, says the key for success for his store is to continue to do the same things it has always done.

Find more business news at www.sbj.biz. “We’re going to remain unchanged,” he explains. “We will continue to treat people well and build on our strong suit. We know and understand our products, and people can actually hold them.” He says that the time between late October, when layaway promotions begin, and the end of December is usually when his store generates more than one-fourth of annual sales. “That makes for a big two-and-a-half months,” Gordon adds. Marion Chamber of Commerce President and CEO George Trammel says the keys to a successful holiday season for local businesses are the same principles they should stress during the rest of the year. “Customer service and competitive pricing is important; promotion is key,” he says. “Many businesses spend a lot of the advertising budget in the last quarter of the year to get their message out, but I would also tell them to take advantage of chamber programs that they can use to promote themselves for free. Virtually every chamber of commerce in the region has a Buy Locally program, and, to us, that means Southern Illinois.” Tricia Work, owner of The Bike Surgeon in Carbondale, says her store doesn’t typically increase advertising during the holidays, but does offer specials and sales. While bicycle purchases slow with cooler weather, she says that sales of other products, including accessories and gift cards, traditionally uptick late in the year. “We see an increase during the holidays, usually,” she says. “This year, we’re expecting the same that we’ve seen during the last three years, although our bike sales have definitely increased this year. We’re hoping that trend will continue through Christmas.” Shopkeepers like Work should have more opportunities to wow customers this year, according to ShopperTrak. “Our data tell us that consumers are visiting more stores than last year. This influx of traffic will present

OCTOBER 2012

SOUTHERN BUSINESS JOURNAL

Cover Story opportunities for retailers to convert these visitors into buyers, especially with the extended holiday shopping season,” Martin’s prepared statement says. In fact, 2012 features 32 days, three more days and one more weekend than last year, between Black Friday — the day after Thanksgiving and traditional kickoff of the holiday shopping season — and Christmas. It’s the longest shopping season possible. Still, Cox doesn’t think it will make a big difference. “I think that people have X amount of money to spend, and whether they spend it in November or they spend it on Dec. 24, that’s the way it is,” Cox says. “It’s still very much a season. It helps November out, but at the end of it, I don’t know if it has an overall effect or not.” So, when will retailers know if the holiday sales season is being naughty or

nice to them? Most say it will be midDecember before the signs are clear. “We won’t know until the week before Christmas,” Gordon adds. “I’ve been surprised in other years when business has been slow until the final week, and then things go over the top. It’s harder to predict now than ever before.” Work agrees. “We won’t know if it’s a good season until right before Christmas, because there are always people, including me, shopping right down to the last minute,” she says. Jim Fuller, co-owner of Jim and Dot’s Western Wear in Anna, says early figures from Black Friday will not tell the story for local retailers. “It’ll take a while for us,” he says. “Black Friday is really a mall thing.” But, My Favorite Toys’ Cox said he thinks the first weekend of the season will give some indication.

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“In broad terms, we’ll know at the end of the Black Friday weekend how things might be,” he explains. “If we do really well that weekend, I might improve our overall projection. If the weekend goes the other way, that will tell us a story, too.” Cox is already keeping an eye out on what other retailers will be doing to kick off the sales season. “We’re anxious to see if the department stores continue to ramp up this midnight madness that has gotten so bizarre. Last year at University Mall, we opened at 5 a.m., and we missed a lot of the crowd because we heard that there were more than 1,000 people at some stores at midnight,” he adds. “We may be reacting to that this year and be out here in the dead of the night.” LES O’DELL of Carbondale is a regular contributor to Southern Business Journal and The Southern Illinoisan.

THE SOUTHERN FILE PHOTO

Tricia Work, owner of The Bike Surgeon in Carbondale, says her store doesn’t typically increase advertising during the holidays, but does offer specials and sales

SOUTHERN BUSINESS JOURNAL

OCTOBER 2012

Money Matters Through the looking glass of preference recovery reform BY DAVID A. LANDER SBJ CONTRIBUTOR

It’s bad enough when good customers go out of business. You lose their future sales and the good will you built with them over the years. You also have likely lost the money they owe Lander you for goods or services you provided in the days or weeks before they failed. But, if they filed bankruptcy, there may be one more loss that truly rubs salt into the wound. You receive a demand from a bankruptcy trustee or the bankruptcy debtor itself for the money they paid for services you provided. How can that be? Welcome to the “Alice in Wonderland” of preference law and preference recovery. In 2005, the U.S. Bankruptcy Code was amended in another attempt to balance the rights of creditors in bankruptcy cases involving preferential payments. There is consensus that preference demands and preference litigation amount to stealing from trade creditors (who already lost money when the debtor failed) and then giving that stolen money to the lawyers or banks. No one (except the preferred creditor) likes it when a business that is about to close or file bankruptcy pays a disproportionate amount of its remaining assets to one or a few unsecured creditors. U.S. bankruptcy history is strewn with unsuccessful drafting efforts to empower the trustee to recover tainted payments, while leaving others alone. Generations of wellintentioned lawmakers have tried to ensure the trustee’s net is neither too wide nor too narrow. Preference policy rests on two fundamental principals: Equality of distribution requires that payments made shortly before bankruptcy be carefully scrutinized and that creditors

receiving more than their fair share should put those payments back in the pot to be redistributed in accordance with bankruptcy law; and fear of avoidance will dissuade aggressive creditors from picking at the bones of distressed debtors. When the Bankruptcy Act of 1898 was enacted, it was decidedly pro avoidance. But, an anti-preference mentality has slowly arisen in the last decade for several reasons: The plethora of asset sales in a bankruptcy case, followed by liquidating plans, has created an avalanche of preference actions; Many actions are brought on the eve of the statute of limitations period more than two years after the transfers were made; The flocking to Delaware and New York City venues for many cases has increased the litigation costs for defendants; Preference litigation provides an opportunity for extortion; Recent cases spotlighting preference recoveries that sometimes go from trade creditors to under-secured financial institutions; There is rarely significant redistribution of preference recoveries; and The ratio of the cost of litigation to the amount of redistribution is skewed. In response to some of these complaints, Congress threw a few bones to preference defendants in amending the code in 2005. For example, very small claims could not be brought at all, and pretty small claims must be brought in the home court of the defendant, rather than in Delaware or New York City. It also made it easer to establish the ordinary course of business defense to a preference action. It barred the bankrupt firm from recovering preferential payment claim if the creditor can prove the payment was either in the ordinary course of business between the debtor and creditor or the payment complied with prevailing industry standards.

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No one (except the preferred creditor) likes it when a business that is about to close or file bankruptcy pays a disproportionate amount of its remaining assets to one or a few unsecured creditors.

In a recent order, U.S. Bankruptcy Judge Stacy Jernigan expressed concern about the way that preference actions are brought in large Chapter 11 cases. The court indicated that it had some “consternation” about preference litigation being waged in a context “in which there is little chance that unsecured creditors are going to realize any benefit.” However, the court noted that there is nothing in the bankruptcy code explicitly requiring that a preference action benefit the unsecured creditors. In another example, hundreds of recipients of preference demand letters recently found an innovative way of attacking the attacker. Among the 2,000 or so that had received the demands, it was clear that several hundred had iron clad defenses. A trade association’s attorney wrote a carefully worded response indicating that although some of the potential defenses would require extensive discovery or legal argument, many others were such clear winners

that good sense should have prohibited those demands from having been made, noting rules that certainly would prohibit filing the law suits. The plaintiffs were in a quandary because the twoyear statute of limitations was about to run out with no time to complete the factual examination that the situation required. The astounding result was the withdrawal of the demands that had been made against nearly all of the 2,000 demand recipients (including those who had no defenses). Still another in the chamber of horrors is the mandatory mediation conference in which out-of-town counsel and parties must travel to a distant venue in order to go through the motions of trying to settle the cases. The underlying problem is endemic to the effort to legislate a goal that is beyond the ability of humans to draft effectively. When you consider the tremendous amount of time and money spent on preference demands and preference litigation and the negligible affect on creditor recoveries of those expenditures, it just does not seem worth it. What is needed to escape the fantasy of reform is narrowing the scope of the non-insider preference net very significantly by re-imposing a requirement to have knowledge of the distress and intent to manipulate. The venue provision should be changed to require the plaintiff to sue in the defendant’s home territory, unless the amount sued for is greater than $100,000. Plaintiff’s counsel’s fee applications should also be more carefully scrutinized. It’s hoped that the combined outrage of preference targets will help light the fuse to right these wrongs. DAVID A. LANDER is an officer in the Creditors’ Rights & Bankruptcy Practice Group of the St. Louis law firm Greensfelder, Hemker & Gale, P.C., which serves Illinois businesses with offices in Belleville and Chicago.

OCTOBER 2012

SOUTHERN BUSINESS JOURNAL

Investments Keys to selecting a wealth adviser Questions offer basis for thorough interview BY SCOTT MCCLATCHEY SBJ CONTRIBUTOR

How do you find a good wealth adviser? That is a very important question. It is amazing how casually many couples and families approach the search. McClatchey Consider the observations of MarketWatch senior columnist Chuck Jaffe, who has given many presentations on this very topic. Jaffe commonly polls his audience, asking people to raise their hands if they have worked with a financial advisor. Next, “I ask them to keep [their hand] up if they hired the first financial advisor they met with or if they hired someone recommended by family or friends. Virtually all hands stay up. Next, I ask them to keep their hands up if they did a background check on the advisor and talked to an independent reference before they agreed to work together. I have never had a single hand stay in the air.” All that said, word of mouth does count for something, and a recommendation from a friend or relative may lead you to a great wealth advisor. Even then, however, you need to discover whether this professional is right for you. As part of your search, seek answers to these questions. What kind of services do you offer? Beyond retirement planning and a financial strategy, do you want your advisor to provide advanced estate planning, tax planning, succession planning or portfolio management? What kind of team can the advisor put together to address these needs? No one can be a specialist in everything. Are you licensed, and do you have a

Word of mouth does count for something, and a recommendation from a friend or relative may lead you to a great wealth adviser. Even then, however, you need to discover whether this professional is right for you. clean record? Check this out online, no matter what the answer is. FINRA (Financial Industry Regulatory Authority, formerly NASD) offers a free web tool called BrokerCheck to help you research the backgrounds of financial services industry professionals and firms. You can also go to www.adviserinfo.sec.gov for an investment advisor search. A state securities regulator also may be a useful resource. How long have you been in the industry? After you hear the answer, ask what this person did before becoming a wealth advisor (it could be illuminating), as well as his or her professional qualifications. Are you held to a fiduciary standard or a suitability standard? All certified financial planner professionals are asked to abide by a fiduciary standard: they must act in the best interests of their clients. For many years, the default in the financial services industry and insurance industry was the suitability standard. Investments or products needed to be only suitable for clients or customers, rather than in their best interest. Which standard would you like your wealth advisor to uphold? Are you committed to continuing your education? Certified financial planner professionals, chartered financial consultants and certified investment management analysts must do this to maintain their designations, and all wealth advisors should make such a commitment. If I ask people about your reputation, what will they say? You can’t instantly learn if an advisor has a satisfied client base. Client testimonials and endorsements are prohibited by the Securities & Exchange Commission,

and sharing client names amounts to a violation of privacy. In addition, if you ask for professional references, you will always get glowing ones. Listen for any hints of hesitancy or evasiveness in response to this question, and don’t be afraid to follow up with another one. Could you describe your average client? You want the advisor to describe you (or someone similar to you) in response to this question. How are you compensated? There are fee-only, fee-based, feeplus-commission, and commissiononly advisors. Some advisors make most of their incomes off commissions linked to product sales or investment trades. Others make the bulk (or even all) of their incomes from advisory fees. What clearing firm do you use? What is the custodian firm for client accounts? In other words, where will your investment money be held? Are investor-owned assets held in an account insured by the Securities Investor Protection Corporation? How do you approach discussing personal financial matters? You may or may not like the advisor’s process; you will want an overview of it. What did you do in 2008? The Great Recession tested many wealth advisors. Some were embarrassed, some were vindicated, and others changed their philosophies. Follow up the response with this question: What percentage of the clients you had in 2007 is still with you today? What kind of risk management strategy do you favor? How does this advisor like to play defense? In rough markets, what level of tactical asset management is adopted to try to help

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protect clients against losses? Are you going to tell me about excessive surrender charges and fees? Most wealth advisors are very cognizant of how these little dings can impact you. You want to try to gauge an advisor’s level of effort and attention to this matter. Do you sell insurance? Some wealth advisors come up through the ranks of the insurance industry, and they have a depth of understanding of insurance products and the versatility of life insurance that other wealth advisors may not. Some couples and families really appreciate having an advisor with this knowledge base. Others do not and prefer advisors with a different background. When an investment professional also sells insurance products, there is the potential for conflicts of interest. What client protection standards do you abide by? We’re talking confidentiality, auditing and regulatory compliance and E&O insurance. A proper clearing firm should be used to prevent any temptation an advisor might have to tap into client assets. These questions give you the basis for a thorough interview. When you search for a wealth advisor, you need to conduct one. SCOTT MCCLATCHEY is a certified financial planner with Alliance Investment Planning Group, a Carbondale investment firm located at 115 S. Washington St. He can be reached at 618-519-9344 or scott@allianceinvestmentplanning.com. He also provides investment, retirement planning and insurance services to SIU Credit Union members through SIU Credit Union Investment Services partnership. Securities offered through LPL Financial, member FINRA/SIPC.

OCTOBER 2012

SOUTHERN BUSINESS JOURNAL

Workplace Sorry, boss, it’s not in my job description BY ANGELA HOLMES-YOUNG

Find more business news at www.sbj.biz.

SBJ CONTRIBUTOR

No other words in the English language truly grate on my nerves more than “it is not in my job description.” I have clients ask me if an employee really can say that, and the answer is Holmes-Young yes, of course they can. An employee and employer can say whatever they want. When I was asked this recently, I knew that this would be a good topic for this month’s column. Many employers run away from job descriptions. This month, I want to talk about what they truly are and what they should be used for. Job descriptions, when done correctly, can be an asset to your business and to your staff. They can and should be used to hold people accountable and do not need to be used as a threat or a promise. Don’t let a job description overwhelm you. A true job description is really just a written document that lists the job duties performed within each specific job or category of jobs. It is usually best to draft a job description by job and not by person. Let me say that part again. The job description should not be person specific; it should be job specific. A good job description rides the line between being too detailed and not detailed enough. Have I confused you yet? A good job description will explain the duties that must be done within the job without explaining how to do each duty. The Society for Human Resource Management offers steps to those taking on the task of developing job descriptions for their organization. Perform a job analysis. In order to really write a job description that truly reflects the actual job, you must see the job. When I write job descriptions for clients, I insist on going to the work site and observing the job directly. I like to see the employees doing the job at their work stations, where they perform the job every day. Ask the employees to

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A true job description is really just a written document that lists the job duties performed within each specific job or category of jobs. The job description should not be person specific; it should be job specific.

perform the job exactly how they normally would, whether you were there or not. When performing a job analysis, you are looking at the duties performed as well as the physical and mental aspects needed to do the job. Let me say this a better way. You need to understand the underlying need. What is the person doing? Let’s think of these items as the knowledge/critical skills needed to do the job and also the physical demands involved in the job. Even though they are doing it one way, could it be done another way if needed? Could this same job be done with an accommodation? There are often many ways to do the same thing. In this step, you need to understand the job and break it down, while also listing the aspects involved. Does the employee need to be able to stand for four hours continuously? Does the job require the employee to lift 20 pounds twice per day? What are the physical aspects? Are basic math skills required? Are computer skills required? Establish essential functions vs. marginal functions. The essential functions are the key parts of the job that must be done. Think of the essential functions of the job as the key duties and responsibilities. The essential functions of the job are most likely linked to why the job itself exists. The marginal functions are the secondary responsibilities of the job and things

that probably could be shifted to another job if needed. Organize the data. Organize the data for the job description into sections so the document is easy to read and easy to understand. Remember, this document may be used by auditors, supervisors, other employees and lawyers. Take a look at your document overall and see how the data breaks down naturally. There may be some clear-cut ways to organize your data. Add a disclaimer. Disclaimer: Don’t laugh. This is where the infamous disclaimer should be placed, “other duties as assigned.” No job description can most likely capture every single detail of the job, so most of us include the phrase “other duties as assigned” in order to cover that situation. This solves the problem of “it isn’t in my job description.” Make sure there is a place for the job description to be signed. You will need this part once you meet with the employees to review their job descriptions and ask them to sign that they have reviewed it. Finalize. I actually recommend that by finalizing the job description, you should meet with the employee to review the job description. You want to make sure that the employee has a complete understanding of the tasks that are expected. During this time, you may want to include discussion about

how performance will be measured. Make sure you are reviewing the job description with the employee who will be doing that exact job. Ask him or her to sign the document once you have reviewed it together. It is even OK to ask the employee to offer suggestions or changes to the document itself. If you wrote it, you may have left something out. What can the employee add to make the job description more correct? What should be taken out that is no longer part of the job? I had a client tell me once that he did not care who was doing the work. He only cared that it got done. Although I can understand where he is coming from, as employers, we do need to know which employees are performing which job functions and responsibilities. In a perfect world, your employees would come to work and do their jobs and you could sit back and not worry about a thing. Or, better yet, you could take a vacation! Your employees must be classified as exempt or non-exempt, which is based on their job duties. This classification dictates the overtime pay requirement, as well as other requirements under the Fair Labor Standards Act. Job descriptions can be a tool to help you understand who is performing which tasks within each job. There are many advantages to having job descriptions in place in your organization. Remember, though. They are not any good to you if they are not accurate and/or up-to-date. ANGELA HOLMES-YOUNG is vice president of Consulting and Human Resource Services for Your Professional Partners, Inc. in Marion. She consults with clients of all sizes in a variety of human resource areas, while also offering executive coaching and public speaking. Angela can be reached by email at angela@yourprofessional partners.com, calling 618-969-8800 or on Twitter @ A_Holmes_Young.

OCTOBER 2012

SOUTHERN BUSINESS JOURNAL

Tax Planning Taking the bite out of gift taxes CLATs provide tax advantages, aid charities BY MICHAEL P. TISON SBJ CONTRIBUTOR

Although low interest rates and depressed property values aren’t always welcome developments, they help create an environment in which charitably oriented Tison individuals can transfer wealth tax free, while also aiding a worthy cause. One interesting vehicle for achieving both objectives is a charitable lead annuity trust, or CLAT. CLATs are sometimes referred to as

split-interest trusts because two parties benefit: one or more designated charities (this can include donoradvised funds) that receive annual lead distributions from the trust; and noncharity beneficiaries (often the children or other heirs of the trust’s creator), who receive the remaining assets free of gift taxes when the trust terminates. For a CLAT to function properly, the assets placed in the trust must be expected to appreciate at a rate above the IRS discount rate, often called the hurdle rate, prevailing at the time the trust is established. The hurdle rate is used to determine the assumed rate of return for assets contributed to a CLAT. This affects the calculation of the lead payments, or how much must be paid to

Find more business news at www.sbj.biz. the named charity every year in order to zero out or eliminate the taxable gift component. The hurdle rate tracks interest rates, and right now it’s at one of its most favorable levels ever, meaning that the minimum annual payout to a charity can be lower than it would be in times of higher interest rates.

Estate planning leverage Donating property that may have a temporarily depressed market value can SEE TAX / PAGE 23

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CLATs are sometimes referred to as splitinterest trusts because two parties benefit: designated charities that receive annual lead distributions from the trust; and non-charity beneficiaries, who receive the remaining assets free of gift taxes when the trust terminates.

Retail sales for Southern Illinois cities City Anna Benton Carbondale Carterville Chester Du Quoin Harrisburg Herrin Jonesboro Marion Metropolis Mount Vernon Murphysboro Nashville Pinckneyville Red Bud Sparta Vienna West City West Frankfort REGION ILLINOIS

YTD July 2012

2011

2010

2009

2008

2007

65.2 46.5 312.5 21.1 29.8 69.3 116.7 87.4 6.7 382.3 44.0 282.4 71.8 65.4 21.6 40.3 66.4 21.2 49.4 20.2 $1,820.2 $85,530.9

119.1 86.4 593.5 42.0 55.7 113.5 214.0 154.0 11.4 686.9 84.4 533.6 135.2 110.3 42.3 74.7 128.2 40.1 88.3 122.5 $3,436.1 $154,650.6

120.9 69.5 598.0 42.2 55.3 77.1 195.0 153.4 11.8 683.1 82.0 507.0 130.6 96.6 38.5 75.2 128.5 39.9 87.8 112.4 $3,304.8 $147,232.0

114.5 69.4 565.5 39.9 52.9 100.8 191.9 147.2 12.5 676.0 77.1 476.7 129.1 107.9 37.2 70.1 126.4 37.1 91.9 111.4 $3,235.5 $139,593.2

113.3 71.4 587.7 40.1 51.5 91.9 179.3 135.9 12.4 673.4 75.9 482.8 117.1 101.8 39.0 77.7 130.5 40.5 89.6 111.2 $3,223.0 $237,438.0

112.3 72.4 607.4 40.3 51.7 94.4 173.6 134.4 11.3 662.4 79.8 461.5 94.9 105.2 35.8 73.7 129.5 39.8 82.8 111.4 $3,174.7 $180,162.7

N I L L I Chicago Fed Midwest % change 07-11 Manufacturing Index

6.1% 19.3% 2.3% 4.2% 7.7% 20.2% 23.3% 15.6% 0.9% 3.7% 5.8% 15.6% 42.5% 4.8% 18.2% 1.4% 1.0% 0.8% 6.6% 10.0% 8.2% 14.2%

Alexander Franklin Gallatin Hamilton Hardin Jackson Jefferson Johnson Massac Perry Pope Pulaski Randolph Saline Union Washington White Williamson .,REGION ILLINOIS U.S.

2,942 17,632 2,702 4,248 1,827 29,476 19,978 5,049 7,727 9,609 1,923 2,669 15,252 12,781 7,531 8,746 7,744 34,004 191,840 6,666,947 243,354,000

391 2,196 254 398 217 2,676 1,852 571 796 1,156 218 329 1,447 1,279 907 708 680 3,180 19,855 618,016 13,400,000

July 2012 13.3% 12.5% 9.4% 9.4% 11.9% 9.1% 9.3% 11.3% 10.3% 12.0% 11.3% 12.3% 9.5% 10.0% 12.0% 8.1% 8.8% 9.4% 10.3% 9.3% 8.3%

June 2012 11.5% 11.1% 9.2% 8.6% 11.0% 8.8% 8.9% 10.7% 9.9% 11.6% 10.6% 11.7% 9.2% 9.6% 11.4% 8.0% 8.3% 8.8% 9.9% 9.3% 8.2%

104 103 102

IPMFG July 12 96.2

100 98 94 90 88 86 84

81 80

Unemployment rates for Southern Illinois counties, state and nation Jobless

105

SOURCE: LATEST STATISTICS AVAILABLE FROM THE ILLINOIS DEPARTMENT OF REVENUE. FIGURES ARE IN MILLIONS.

Labor force

The CFMMI is a monthly estimate by major industry of manufacturing output in the Seventh Federal Reserve District states of Illinois, Indiana, Iowa, Michigan and Wisconsin. It is a composite index of 15 manufacturing industries, including auto and steel, that uses electrical power and hours worked data to measure monthly changes in regional activity. It is compared here to the national Industrial Production index for Manufacturing (IPMFG). Base year is 2007. Starting in November 2005, the index excluded the electricity component.

July 2011 15.1% 12.7% 9.6% 8.6% 12.5% 9.0% 9.1% 11.4% 10.6% 11.4% 11.9% 12.2% 8.8% 9.9% 12.3% 8.3% 8.5% 9.5% 10.6% 10.4% 9.1%

SOURCE: ILLINOIS DEPARTMENT OF EMPLOYMENT SECURITY, U.S. DEPARTMENT OF LABOR. FIGURES ARE NOT SEASONALLY ADJUSTED.

Change month

1.8 1.4 0.2 0.8 0.9 0.3 0.4 0.6 0.4 0.4 0.7 0.6 0.3 0.4 0.6 0.1 0.5 0.6 0.4 0.0 0.1

Change year

76 74 72

CFMMI July 12 95.6

1.8 0.2 70 0.2 68 0.8 66 0.6 64 D J F M A M J J A S O N D J F M A M J J ’10 ’11 ’12 0.1 0.2 SOURCE: FEDERAL RESERVE BANK OF CHICAGO 0.1 0.3 0.6 0.6 0.1 July 12 July 11 Change 0.7 0.1 MONTHLY TOTALS 0.3 907 857 5.8% 0.2 YTD TOTALS 0.3 0.1 3,498 3,290 6.3% 0.3 2011 2010 Change 1.1 ANNUAL TOTALS 0.8 9,682 7,478 29.5%

Williamson County Regional Airport passengers

I S I N Consumer credit score

SOURCE: EXPERIAN

Alexander Franklin Gallatin Hamilton Hardin Jackson Jefferson Johnson Massac Perry Pope Pulaski Randolph Saline Union Washington White Williamson REGION

5 88 26 17 6 116 69 30 8 48 3 7 78 88 40 39 53 197 918

11 112 31 34 8 115 87 37 24 53 5 15 81 91 41 53 51 184 1,033

693

Anna

Region

694

688

State

O R S U of I Flash Index

U. S.

Total cars, trucks sold based on title applications filed. Excludes motorcycles, trailers.

New vehicle sales July 11

686

Credit scores are numeric reflections of financial behavior and credit worthiness and they are based on information included in a credit report. Ranging from 330 to 830, a higher score means a lower credit risk. Scores are from September 2012.

July 12

Change

2011

54.5% 21.4% 16.1% 50.0% 25.0% 0.9% 20.7% 18.9% 66.7% 9.4% 40.0% 53.3% 3.7% 3.3% 2.4% 26.4% 3.9% 7.0% 11.1%

142 1,174 265 279 96 1,482 1,025 392 297 606 96 159 975 1,022 502 583 625 2,060 11,780

2010 126 965 222 236 97 1,320 848 327 269 558 73 129 844 793 486 446 571 1,796 10,097

Change

12.7% 21.7% 19.4% 20.8% 1.0% 12.3% 20.9% 19.9% 10.4% 8.6% 31.5% 23.2% 15.5% 28.9% 3.3% 30.7% 9.5% 14.7% 16.7%

108 107 106 105 104 103 102 101 100 99 98 97 96 95 94 93 92 91 90 89

Aug 12 102.9

’12

’11

’10

SOURCE: INSTITUTE OF GOVERNMENT AND PUBLIC AFFAIRS, UNIVERSITY OF ILLINOIS

Hotel/motel stats

Consumer Price Index

Total amount of revenue generated in Carbondale by hotels and motels for room rentals only.

The CPI measures average price changes of goods and services over time, with a reference base of 100 in 1982-84.To put into context, a current CPI of 194.5 means a market basket of goods and services that cost $100 in 1982-84 now costs $194.50.

June 12 June 11 MONTHLY TOTALS

Change

$756,575

$785,550

3.8%

YTD TOTALS $3,124,633

230

228

$3,074,580

2011 ANNUAL TOTALS $7,706,931

SOURCE: ILLINOIS SECRETARY OF STATE’S OFFICE. LATEST DATA AVAILABLE.

The Flash Index is an early indicator of the Illinois economy’s expected performance. It is a weighted average of growth rates in corporate earnings, consumer spending and personal income. An index above 100 indicates expected growth; an index below 100 indicates the economy is contracting.

2010

1.6%

Change

226

U.S. City Average Aug 12 230.4

224

222

$7,710,436 <0.01%

220

218

Home sales

Total units sold, including condominiums

Q2 12 Alexander Franklin Gallatin Hamilton Hardin Jackson Jefferson Johnson Massac Perry Pope Pulaski Randolph Saline Union Williamson ILLINOIS

0 78 5 2 3 98 78 16 38 25 4 3 36 53 24 191 35,116

Q2 11 2 87 5 2 6 96 77 13 24 29 2 5 41 41 14 155 29,529

SOURCE: ILLINOIS ASSOCIATION OF REALTORS

Change

100.0% 10.3% 0.0% 0.0% 50.0% 2.1% 1.3% 23.1% 58.3% 13.8% 100.0% 40.0% 12.2% 29.3% 71.4% 23.2% 18.9%

2011 16 283 12 6 14 325 258 66 82 86 10 11 117 148 89 539 103,294

2010 19 259 8 8 8 358 264 78 91 116 8 6 131 122 84 590 103,455

Change

15.8% 9.3% 50.0% 25.0% 75.0% 10.2% 2.3% 15.4% 9.9% 25.9% 20.0% 83.3% 10.7% 21.3 % 6.0% 8.6% 0.2%

MEDIAN SALES PRICE Q2 12 Q2 11 $0 $65,250 $48,000 $189,000 $43,000 $96,500 $84,500 $66,500 $62,000 $61,900 $127,500 $43,000 $81,500 $52,000 $80,250 $116,000 $145,000

$28,250 $42,000 $45,000 $51,570 $24,000 $92,500 $95,000 $61,000 $79,500 $48,500 $96,500 $55,000 $69,900 $62,000 $77,500 $100,500 $142,000

216

Change

214

100.0% Midwest Urban 55.4% Aug 12 220.5 6.7% 265.2% 79.2% 4.3% SOURCE: U.S. DEPARTMENT OF LABOR 11.1% 9.0% 22.0% 27.6% Average price per gallon of regular, unleaded 32.1% gas as of September 19 and August 16, 2012. 21.8% Sept 12 Aug 12 Sept 11 16.6% $3.90 $3.81 $3.49 16.1% Metro East 3.5% Springfield $3.86 $3.74 $3.49 15.4% Illinois $4.09 $4.02 $3.76 $3.85 $3.72 $3.59 2.1% U.S. 212

210

208

O ’11

A M ‘12

Prices at the pump

SOURCE: AAA

I S I N Consumer credit score

SOURCE: EXPERIAN

Alexander Franklin Gallatin Hamilton Hardin Jackson Jefferson Johnson Massac Perry Pope Pulaski Randolph Saline Union Washington White Williamson REGION

5 88 26 17 6 116 69 30 8 48 3 7 78 88 40 39 53 197 918

11 112 31 34 8 115 87 37 24 53 5 15 81 91 41 53 51 184 1,033

693

Anna

Region

694

688

State

O R S U of I Flash Index

U. S.

Total cars, trucks sold based on title applications filed. Excludes motorcycles, trailers.

New vehicle sales July 11

686

July 12

Change

2011

54.5% 21.4% 16.1% 50.0% 25.0% 0.9% 20.7% 18.9% 66.7% 9.4% 40.0% 53.3% 3.7% 3.3% 2.4% 26.4% 3.9% 7.0% 11.1%

142 1,174 265 279 96 1,482 1,025 392 297 606 96 159 975 1,022 502 583 625 2,060 11,780

2010 126 965 222 236 97 1,320 848 327 269 558 73 129 844 793 486 446 571 1,796 10,097

Change

12.7% 21.7% 19.4% 20.8% 1.0% 12.3% 20.9% 19.9% 10.4% 8.6% 31.5% 23.2% 15.5% 28.9% 3.3% 30.7% 9.5% 14.7% 16.7%

108 107 106 105 104 103 102 101 100 99 98 97 96 95 94 93 92 91 90 89

Aug 12 102.9

’12

’11

’10

SOURCE: INSTITUTE OF GOVERNMENT AND PUBLIC AFFAIRS, UNIVERSITY OF ILLINOIS

Hotel/motel stats

Consumer Price Index

Total amount of revenue generated in Carbondale by hotels and motels for room rentals only.

June 12 June 11 MONTHLY TOTALS

Change

$756,575

$785,550

3.8%

YTD TOTALS $3,124,633

230

228

$3,074,580

2011 ANNUAL TOTALS $7,706,931

SOURCE: ILLINOIS SECRETARY OF STATE’S OFFICE. LATEST DATA AVAILABLE.

2010

1.6%

Change

226

U.S. City Average Aug 12 230.4

224

222

$7,710,436 <0.01%

220

218

Home sales

Total units sold, including condominiums

Q2 12 Alexander Franklin Gallatin Hamilton Hardin Jackson Jefferson Johnson Massac Perry Pope Pulaski Randolph Saline Union Williamson ILLINOIS

0 78 5 2 3 98 78 16 38 25 4 3 36 53 24 191 35,116

Q2 11 2 87 5 2 6 96 77 13 24 29 2 5 41 41 14 155 29,529

SOURCE: ILLINOIS ASSOCIATION OF REALTORS

Change

100.0% 10.3% 0.0% 0.0% 50.0% 2.1% 1.3% 23.1% 58.3% 13.8% 100.0% 40.0% 12.2% 29.3% 71.4% 23.2% 18.9%

2011 16 283 12 6 14 325 258 66 82 86 10 11 117 148 89 539 103,294

2010 19 259 8 8 8 358 264 78 91 116 8 6 131 122 84 590 103,455

Change

15.8% 9.3% 50.0% 25.0% 75.0% 10.2% 2.3% 15.4% 9.9% 25.9% 20.0% 83.3% 10.7% 21.3 % 6.0% 8.6% 0.2%

MEDIAN SALES PRICE Q2 12 Q2 11 $0 $65,250 $48,000 $189,000 $43,000 $96,500 $84,500 $66,500 $62,000 $61,900 $127,500 $43,000 $81,500 $52,000 $80,250 $116,000 $145,000

$28,250 $42,000 $45,000 $51,570 $24,000 $92,500 $95,000 $61,000 $79,500 $48,500 $96,500 $55,000 $69,900 $62,000 $77,500 $100,500 $142,000

216

Change

214

210

208

O ’11

A M ‘12

Prices at the pump

SOURCE: AAA

SOUTHERN BUSINESS JOURNAL

OCTOBER 2012

Elder Law (Not-So-) SMART Act puts farm families at risk BY RICHARD HABIGER SBJ CONTRIBUTOR

Illinois farmers who did not plan ahead five years ago for the possibility they might someday need long-term care are now beginning to find their dreams for their farms — Habiger their cherished way of life, their slice of the American pie — shattered! (Read on to find out why their lives may be shattered, but need not be gone, provided that they get smart and don’t get surprised in the middle road like a deer at night staring into the headlights of an oncoming truck.) Nearly a year ago, the Illinois House and Senate enacted and Gov. Quinn signed into law (a not-so-smart law) the so-called SMART Act. This foulsmelling example of putrid jurisprudential excess is designed, in effect, to redistribute the equity value of Illinois homestead farms to the Illinois government. The law does not say redistribute. Laws never use this term. But, this is precisely the net effect of the SKUNK Act, err, excuse me, SMART Act. It redistributes the equity value of homes, homesteads and family farms (and other small family businesses) to the Illinois government. Let’s take a look at the actual words of the SMART Act: “Sec. 3-1.2. *** resources (for example, land, buildings, equipment, supplies, or tools), including farmland property and personal property used in the income-producing operations related to the farmland (for example, equipment and supplies, motor vehicles, or tools), *** up to $6,000 of the person’s equity in the incomeproducing property, *** are exempt. *** the total equity value of all properties that is exempt shall be limited to $6,000.” Whose farms are at greatest risk? Obviously, the SMART Act is not aimed at those who can afford to spend $4,500

ART SERVICES

The SMART Act is aimed at farm families that have worked the land over the course of perhaps three, four, five or more generations of hard toil to make the land fruitful.

to $6,500 per month (i.e., up to $78,000 or more per year) privately paying for care at home or in a nursing home. Those who are at greatest risk are middle-class farmers whose equity interest in their farm exceeds $6,000, which, for all you non-farmers out there, is the approximate value of just one measly acre of mediocre scrub land in deep Southern Illinois. Moreover, if the farmer or his spouse has a business, as well as an interest in a farm, (for example, a welding or trucking business that reports income separate from that of the farming operation or his wife sells crafts and jellies through a co-op to supplement family income), the equity value of the separate business is included in the $6,000 limit on exempt resources. Thus, as we can all readily conclude from the plain language of the SMART Act, it is aimed at farmers and their families that do not have sufficient savings to totally rely on their own resources for five years, which, if you do the math and add in an inflation factor,

means savings of at least $400,000. This is the minimum that a farmer must have set aside to privately pay for the longterm care for himself, his spouse, his parent, his grandparent, or anyone else who owns an equity interest in his farm, where the total equity value of the farm and all other businesses owned by the person needing long-term care are worth more than $6,000. Whoa! You say you believe the farmer should not be responsible for the nursing home expenses of his parents or grandparents. While this may be true in the abstract, in practical terms, if the parent or grandparent owns a $6,000 equity interest in the farm, all persons who own an interest in the farm, and all family members who rely on the income generated by the farm are at risk because the government will place a lien on the land. This, of course, will tie up the equity of all owners of the farm and risk the lives and livelihood of all who depend upon the financial resources generated by the farm. In short, the SMART Act is aimed at

farm families that have worked the land over the course of perhaps three, four, five or more generations of hard toil to make the land fruitful. Nationally, Medicare and Medicaid, together, provide medical coverage for seniors, the poor and the disabled. Together, the two programs, both of which are part of the Social Security Act, make up nearly a quarter of all federal spending. A large part of these Medicare and Medicaid expenditures are for long-term care of seniors. According to the Kaiser Family Foundation’s website, http://StateHealthFacts.org, total Medicaid spending in fiscal year 2010 by all states was $389 billion. Of that amount, $122.6 billion, or 31.5 percent, was spent by all states for long-term Care (i.e., care in nursing homes and other care facilities, as well as community and at-home care through what are call Medicaid-waiver programs). When we look closer to home, Illinois spent a total of $15.3 billion on Medicaid

OCTOBER 2012 services for the same period. Of this amount, $3.6 billion, or 23.7 percent, was spent by Illinois on long-term care services. Obviously, this level of spending suggested the need for the U.S. Congress and the Illinois Legislature to reevaluate. But, it certainly did not suggest a need to redistribute small family businesses and farms on the backs of our seniors (members of the Greatest Generation) or their hand-working families, i.e., those who make up the backbone of this great nation. So, what can you, the reader, do now that you or your loved one may not have another five years to plan for long-term care? There are at least three very important steps you can take, right now: First, run (don’t walk) to an elder law attorney who has substantial knowledge and experience dealing with long-term care issues. For a complete list of all Illinois elder law attorneys, go to http://NAELA.org. Second, contact your Illinois state senator and representative to let them know your concerns and to request that they introduce legislation to amend the SMART Act to moderate the harsh consequences it imposes on small family farms and businesses. Southern Illinois legislators, all of whom voted for the SMART Act, may not have realized the devastating consequences of their “yea” votes for Southern Illinois farm families and might be willing to sponsor or cosponsor corrective legislation: senators Gary Forby, Dave Luechtefeld and John O. Jones; and representatives Mike Bost, John Bradley and Brandon Phelps. Third, contact all members of the Illinois General Assembly’s Joint Committee on Administrative Rules at http://ilga.gov/commission/jcar/default. htm. Let JCAR members know your displeasure that they have failed to do anything to moderate the harsh consequences of the SMART Act. Also, let JCAR members know that you are not happy that they have allowed Gov. Quinn’s Medicaid bureaucracy to do an end-run around JCAR — an end-run around the fair and balanced administrative rules (governing longterm care) adopted by JCAR in October 2011. RICHARD HABIGER is author of the Illinois edition of “How to Protect Your Family’s Assets from Devastating Nursing Home Costs: Medicaid Secrets” and an elder law attorney who focuses on asset protection, Medicaid and VA benefits. He may be contacted at 618-549-4529 or info@habigerelderlaw.com.

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SOUTHERN BUSINESS JOURNAL

OCTOBER 2012

Achievements Heckert named secretary of MDRT

Faces in the news

Brian D. Heckert, CLU, ChFC, founder and managing member of Financial Solutions Midwest LLC, an independent financial services practice in Nashville, has been named secretary of the Million Dollar Round Table, the premier association of financial professionals. Heckert’s five-year term on the executive committee, which took effective Sept. 1, will culminate in becoming MDRT president in 2016.

Heckert

Wilkerson

Rose

Walters

Knox

Rushing

Rose caters to high-risk individuals seeking insurance Jeff Rose, CEO and founder of Alliance Wealth Management LLC, a full-service registered investment advisory firm in Carbondale, has added a life insurance division to his firm. Rose has created a new website, lifeinsurancebyjeff.com, which caters to families looking for cheap rates on life insurance. He also serves individuals who have difficulty getting insurance coverage, including those with high-risk health conditions such as diabetes and high blood pressure.

Stevens invited to Edward Jones conference

Smith

Spradling

Gupta

Find more business news at www.sbj.biz.

Bailey

Lamb

Faces in the news Have you been promoted? Send a photo. Has a colleague at work completed an intensive continuing education program? Send a photo. Others in the business community will want to know it, so please consider passing on your employment news and photos to the Southern Business Journal. Feel free to email the information to sbj@thesouthern.com.

Melody Stevens, senior branch office administrator for the Carterville office of Edward Jones, has been invited to Edward Jones’ annual Branch Office Administrators Managing Partner’s Conference this month at the firm’s headquarters in St. Louis. Edward Jones, a financial services firm, has more than 20,000 branch office administrators in the U.S. and Canada, and only 350 of these administrators were invited to attend the conference.

Flowers receives Lifetime Achievement Award Carl Flowers, a full professor in SIU Rehabilitation Institute and interim institute chairperson, recently received the National Association of Multicultural Rehabilitation Concerns Virgie Winston-Smith Lifetime Achievement Award at the organization’s annual conference in Little Rock, Ark. The award represents the association’s highest honor.

Coracys attend Disney conference David and Helen Coracy of B and A Travel Service in Marion and Carbondale were part of the record-breaking crowd of 500 authorized Disney vacation planners, who participated in Disney’s eighth EarMarked Conference aboard Disney Cruise

Lines’ newest ship, the Disney Fantasy. The Coracys previewed coming attractions at Disney Parks and got behind-the-scenes looks at the innovative features onboard the ship. They also heard from key Disney leaders and saw previews of the immersive experiences coming to Disneyland, Walt Disney World Resort and Adventures by Disney tour programs.

Three join Western Baptist Hospital staff Urologist Michael L. Knox, M.D., nephrologist Jonathan Wilkerson, M.D., and family medicine physician Jonathan Walters, M.D., have recently joined the medical staff at Western Baptist Hospital. They join a medical staff of about 240 physicians, representing 40 medical specialties. Knox is accepting new patients at Urology Group of Paducah, Doctors Office Building 2, Suite 102, in Western Baptist Hospital, Wilkerson is accepting new patients at Western Kentucky Kidney Specialists, Suite 315, 1532 Lone Oak Road, and Walters is accepting new patients at Four Rivers Internal Medicine, 3131 Parisa Drive.

Hospital among best for patient experience For the second year, Western Baptist Hospital in Paducah has been named one of America’s best hospitals for patient experience and winner of the Women’s Choice Award by WomenCertified, an organization committed to helping women identify businesses that value the customer experience and appreciate female consumer needs. The survey process is based on research of customer satisfaction among women. Recipients do not apply for the award; they are selected, based on a scoring process.

Rushing appointed financial representative Bobby Rushing, a Pinckneyville native and SIU graduate, has been appointed as a financial representative by Northwestern Mutual in Cape Girardeau. He will be associated with Northwestern Mutual, The Hahs Group of Cape Girardeau. As a financial representative, Rushing will join a network of specialists offering a wide array of products and expert guidance and innovative solutions for a variety of financial needs and goals.

Logan’s Roadhouse hosts grand opening The grand opening for Logan’s Roadhouse was Sept. 17 at 1305 Halfway Road in Marion. Hours of operation are from 11 a.m. to 10 p.m. Sunday through Thursday and 11 a.m. to 11 p.m. Friday and Saturday.

SOUTHERN BUSINESS JOURNAL

OCTOBER 2012

Achievements Pickers Outlet Mall to open in JC The ground has been broken for Pickers Outlet Mall in Johnston City, and the business is expected to be open by Nov. 1. POM will rent booth spaces to vendors that specialize in unique items that cannot be found in traditional stores. The 5,000-square-foot building will be located 1.5 miles west of Interstate 57 at 9740 Herrin Road. The mall will be open seven days a week. Owners Murry and Shirley Berger are taking applications for spaces, which are limited. They can be contacted at 618-925-8033 or mur_man@yahoo.com. More information is available at pickersoutletmall.com.

The website has a page that lists all JCC Legence Bank offers services individually, the JCC Campus class new financial program schedule, current news for the equipment Legence Bank is taking financial industry, an online enrollment process and education to a higher level with its new many other features, including a shopping program — Legence Bank University. cart that will allow JCC to move forward Legence Bank, a community bank with with electronic payments. five branches throughout Southern Illinois and Southern Indiana, has created a new Smith named financial literacy program through its own website, www.legencebank.com/lbu, and president/CEO of HMC through an educational program that is Rodney D. Smith, former vice offered to kindergarten, first grade, middle president of operations at Harrisburg school and high school students in Medical Center, recently was selected as Eldorado, Harrisburg, Galatia and Gallatin president/CEO to replace Vince Ashley, County schools in Illinois and Evansville former CEO who died as a result of a Day School in Evansville, Ind. motorcycle accident. LBU is an educational program provided “We are a strong part of this community, by Legence Bank to educate, inform and and our administration and staff will encourage financial knowledge to the continue to deliver quality health care to communities Legence Bank serves. This southeastern Illinois,” Smith said. program is offered for free to all schools and individuals. Spradling joins bank

medicine physician on the staff at Rea Clinic in Du Quoin since 2007.

Heil named financial consultant Denanne Heil has joined First Brokerage America, LLC, an affiliate of First Bank, as a financial consultant in the Southern Illinois and Metro East areas. Heil, who has more than 15 years of experience in the financial services industry, will cover the Carbondale, Johnston City, West Frankfort, Greenville, Vandalia and Salem branches for First Bank.

Basi joins Wagner Realty in Florida

Roman Basi, a licensed managing real estate broker in Illinois and owner of Heartland Realty & Rentals, Inc., in Marion, is now a licensed real estate sales Angela Batson, owner of Envi Salon & associate in Florida. Spa at 2031 S. Illinois Ave. in Carbondale, is Basi has joined the office of Wagner celebrating her fifth year in business this Realty, located on Longboat Key, Fla. He week by hosting wellness happy hours as trust officer Stuckert joins Jerkins Creative will specialize in representing buyers of Sept. 18 to 21. There were presentations, Linda K. Spradling, who has condominiums and investment properties and tours were provided. Consulting accumulated 28 years in the financial in the southwest gulf coast area. He is Raffles for various services and gifts were services industry, has joined TrustBank as a William Stuckert has joined Jerkins conducted throughout the week. All funds trust officer. Her main focus is on trusts Creative Consulting as a specialist. JCC is a admitted to practice law in Arizona, Florida, Illinois and Missouri and serves as raised went to PAWS Place in Anna. Batson and investments. Benton company that specializes in president of The Center for Financial, Legal also donate $5 from each service she providing business solutions for equipment Joining trust officer Mike Neill, Spradling & Tax Planning, Inc., a law/accounting firm provided during the anniversary week to dealers and suppliers, nationally and is located in Milwood Executive Suites, that specializes in mergers and acquisitions this not-for-profit, no-kill shelter. For internationally. 1400 N. Wood Road, in Murphysboro. of privately held companies, business more information, visit the Facebook page Stuckert has been in the equipment or www.envisalonandspa.com. industry since 1986 and most recently was valuations, tax aspects of business Gupta joins St. Elizabeth’s decisions, real estate and estate planning. president and general manager of medical staff Woods–Tisco, an aftermarket agricultural LHW Studios receives national Dr. Pavan Gupta, a board-certified Villas of Holly Brook parts distribution company. recognition cardiologist, has joined Prairie hosts open house LHW Studios has been recognized Cardiovascular cardiology group and is Elite Studio Adds BeyondBarre The Villas of Holly Brook recently hosted nationally by creators of Spinning exercise now on the medical staff of St. Elizabeth’s an open house Sept. 22 at 505 Rushing bikes. Owner Molly Parrish, a former Elite Studio in Marion has added a new Hospital in Belleville. Drive in Carterville. college athlete, left corporate sales to open exercise modality, BeyondBarre, to its Gupta will see patients at Prairie For more information, call 618-305an official Spinning facility in Southern expanding portfolio of offerings. Cardiovascular, 340 W. Lincoln, Ste. 400, 0958 Illinois. A cardio-infused ballet-barre workout, in the Southern Illinois Heart Institute LHW Studios offers Spinning classes, as building on the hospital’s campus. BeyondBarre was designed and developed well as YogaFit at 1000 N. Carbon St. in by Colleen Ketchum, owner of Pilates in Faces in the news Marion and 100 S. Fly St. in Goreville. Motion, a studio in Hudson Valley, N.Y. Morgan & Guthman earns Have you been promoted? Send a photo. Parrish is featured in publications and on Elite Studio is located at 3000 W. Has a colleague at work successful review TV, and she will soon be online at DeYoung St., Ste. 416. For more completed an intensive continuing education spinning.com. The public accounting firm of Morgan & information, call 618-944-9767. program? Send a photo. Guthman, LLC, recently completed a Others in the business community will want successful peer review of its accounting to know it, so please consider passing on Jerkins Creative Consulting Yochum joins faculty at SIU and auditing practice. your employment news and photos to the releases new website School of Medicine Southern Business Journal. Morgan & Guthman, LLC, with partners Jerkins Creative Consulting recently Andrew Yochum, D.O., of Carterville Feel free to email the Donald R. Morgan, CPA and Matthew released its new website at jccservices.com. W. Guthman, CPA, serves individuals, has joined the faculty at SIU School of information to sbj@thesouthern.com. The project is a new way that the BentonMedicine as an assistant professor of family businesses, governmental units and nonbased, North American-wide, training and profit organizations throughout the and community medicine. Find more business news consulting company can more effectively Yochum will provide care in SIU Center Southern Illinois area. The office is at 217 at www.sbj.biz. provide services to current clients and for Family Medicine in Carbondale and Robert Morgan Road in Murphysboro. reach new clients. West Frankfort. He has been a family

Envi Salon & Spa celebrates five years

OCTOBER 2012

SOUTHERN BUSINESS JOURNAL

Achievements Bailey-Lamb Monument Company opens A new monument business has opened in Vienna. Brian Bailey and Pat Lamb have formed Bailey-Lamb Monument Company, Inc., at Bailey Funeral Home on U.S. 45 North. The business offers a full line of granite memorials, mausoleums and cemetery inscriptions. Lamb worked in the monument business with his father-in-law, Joe Reynolds, from 1972 until their business sold in 1999. Bailey has owned and operated Bailey Funeral Home for the last 15 years.

Auto Credit opens new facility in Benton Auto Credit of Southern Illinois has relocated in Benton. The new facility, north of Benton’s square at 1629 N. Main St., brings the maintenance shop and sales lot together on the same property. Auto Credit’s former facility at

61 N. Central St. is being remodeled to make room for a new Peoples Bank, which is slated to open early next year. Auto Credit operates facilities in Benton, Marion, Carbondale and Mount Vernon.

Hospital earns ‘top performer’ recognition Union County Hospital in Anna recently was named one of the nation’s Top Performers on Key Quality Measures by The Joint Commission, a leading accreditor of health care organizations in America. The hospital was recognized by The Joint Commission for exemplary performance in using evidence-based clinical processes that are shown to improve care for certain conditions, including heart attack, heart failure, pneumonia, surgical care, children’s asthma, stroke and venous thrombo embolism, as well as inpatient psychiatric services.

Calendar Heartland Women’s Healthcare opens new office Heartland Women’s Healthcare hosted an open house and ribbon-cutting ceremony Sept. 18 to celebrate the opening of a new office in Herrin at 121 N. 13th St., Ste. 4. Local residents had the opportunity to tour the facility and meet with Dr. Douglas V. Combs, who joined Heartland Women’s Healthcare team, which consists of 14 physicians, two nurse midwives and six nurse practitioners in 16 locations. Combs will serve the community from the new Herrin facility.

Murphysboro begins social media campaign The new website visitmurphysboro.com is up and running. Murphysboro Tourism Commission has officially gone live with the new site to make a simple and understandable place where visitors and tourists can find out what is happening

Oct. 10 Using Social Media in Business: 1 to 3 p.m., room 150, DunnRichmond Economic Development Center, 150 E. Pleasant Hill Road, Carbondale. Free. Call 618-536-2424 or email sbdc@siu.edu.

Oct. 16 Starting a Business in Illinois: 5 to 7 p.m., room 150, DunnRichmond Economic Development Center, 150 E. Pleasant Hill Road, Carbondale. Free. An optional business start-up kit is available for $15. Call 618-536-2424 or email sbdc@siu.edu.

Nov. 12 Starting a Business in Illinois: 1 to 3 p.m., room 150, DunnRichmond Economic Development Center, 150 E. Pleasant Hill Road, Carbondale. Free. An optional business start-up kit is available for $15. Call 618-536-2424 or email sbdc@siu.edu.

SOUTHERN BUSINESS JOURNAL

OCTOBER 2012

Achievements and where they can book a stay. In addition to the new website, Murphysboro Tourism Commission has a new Facebook and Twitter page that mirrors the look of the new website.

Dental Hygienists Society awarded grant Southern Illinois Dental Hygienists’ Society No. 12 has been awarded a grant through the Illinois State Dental Society Foundation for its second annual “Give Adults a Smile Day” program. SIDHS was awarded $2,262 to reimburse the component’s expenses for the July 13 event at SIU’s Dental Hygiene Clinic. Adult patients, who were either Medicaid eligible or uninsured, received preventive services, as well as some limited restorative work. Southern Illinois Dental Society endorsed the project and provided volunteer dentists from the area. Students from SIU and John A. Logan College volunteered, as well as faculty and local dental hygienists.

B and A to present ‘bucket list’ travel show What’s on Your Bucket List? That’s the name of the travel show B and A Travel Service and Globus Vacations will present at 6:30 p.m. today (Tuesday, Oct. 2) in John A. Logan College Conference Center on the Carterville campus. Reservations for the event may be made by calling B and A Travel Service in Carbondale or Marion at 866-382-2632 or emailing banda@bandatravel.com. Details also may be found at www.banda travel.com.

Credit union changes name Paducah Federal Credit Union has changed its name to Signet Federal Credit Union. Originally charged in 1939 as Paducah ICRR Credit Union, Signet has grown to serve the financial needs of more than 16,000 members in McCracken, Graves, Ballard and Livingston counties.

Occupational Performan ce & Rehab Staff Industrial Rehab

Dunn-Richmond Economic Development Center 1740 Innovation Drive (Same location - New mailing address) Carbondale, IL 62903

Reduce Work Comp Claims & Cost

Ensure Employee Capabilities

Specializing In Industrial Rehab “Putting Workers Back To Work.”

OCTOBER 2012

SOUTHERN BUSINESS JOURNAL

Business Fine Print Building permits Herrin Joe Restivo, 1615 Dolan Lane, $94,000 Irl Eaton, 120 W. Stotlar, $125,000 Jeff Gusta, 1700 Dynasty, $2,200 Charles Longwell, 1413 W. Cherr y St., $14,430 Steve Claunch, 2405 W. Cherry St., $30,000 Bob Newman, 13025/13027 Hafer Road, $100,000 John Crespi, 3206 Corsair Drive, $5,500 Roland McBride, 403 Insignia, $10,000 Brian Golden, 1801 Crown Road, $47,250 Dan Jennings, 815 S. 11th St., $45,000 Jack Anderson, 1612 S. 13th St., $72,000

Marion Dax Mezo, 209 Wild Rose, $50,000 Dan Hileman, 1411 Persimmon, $9,500 Dawn Vaughn, 501 S. Liberty, $89,000 Walts, 213 S. Court, $180,000 Joyce Followell, 1412 Augusta, $8,000 Heartland Christian Church, 900 E. Boyton, $850,000 Gilbert Craig, 204 Westernaire, $10,000 Kevin Dunmire, 1401 N. Van Buren, $80,000 Family Dollar, Court and Main, $500,000 Bart Sinks, 1803 Colonial, $18,500

Metropolis Floyd Sullivan, 720 Ferry St., $500 Linda Richie, 700 E. 7th St., $800 Cheryl Gilbert, 1500 Filmore St., $2,500 Juanita Metcalf, 1504 Catherine St., $1,000 AAA Stow-A-Way Storage, 19 Pullen Road, $54,800

Mount Vernon Lea Dodson, 1113 Veterans Memorial Drive, $5,157 Cedar Hurst/Motor Cycle Days, 1400 Broadway, $0 JC Challenge, 1400 Broadway, $0 Jeff Ramsey, 12252 Harlan Road, $70,000 Jeff Ramsey, 12252 Harlan Road, $0 TriState Metal Detecting Club, 800 27th St., $0 Burkdell Mulch, 300 Fairfield Road, $0 Samuel Shillingburg, 2700 Richview Road, $0 H&H Advertising, 4211 Broadway, $35,000 DaVita Inc., 4102 N. Water Tower, $840,000 GSRHC-Day Care Center, 1 Good Samaritan Way, $1,900,000 Jim Scott, 404 Perkins, $0 Jason Staats, 900 6th St., $0 Terr y and Laura Schauber t, 102 9th St., $196,000

Murphysboro Kim Kalaher, 2001 Walnut St., $85,000

Cameron Smith, 433 N. 7th St., $5,000 Immanuel Lutheran Church, 1915 Pine St., $20,500 Charern Lee, 2014 Commercial Ave., $920 Aaron Haimann, 1520 Elm St. $3,000 Andres and Annie Garcia, 335 Lucier St., $2,500 Phillip and Cheryl Yates, 2025 Commercial Ave., $57,930 Steve Baril, 73 Candy Lane, $5,000 Roland Voss, 919 N. 11th St., $48

Bankruptcies Chapter 7 George E. Fritz, P.O. Box 851, Cairo Stephanie D. Perkins, 122 W. Poplar St., Albion Donald Ray McFadden Sr., 1215 Coral St., Red Bud Saqib B. Khan, 67 Apple Lane, Carbondale Fredia B. Terry, 1102 Midway Ct., Marion Tracy Gene Garavaglia, P.O. Box 1124, Herrin Lorinda E. Biggs, 608 Strawberry Lane, Mount Vernon Candice Michelle Rasch, 103 B W. Spruce St., Okawville Anissa Jane and Rex Wayne Priddy, 1100 S. Broadway, Goreville Kathryn L. Gross, 1901 E. Garland St., West Frankfort Dustin M. Crisp, 73 Whispering Pine, Benton Deanna L. Stitzel, 1117 N. Carbon St., Marion John M. and Shiloe M. Stallings, 502 W. Chestnut St., Carbondale James E. and Linda K. Gage, 2220 Dutchman Lake Road, Vienna Gene and Barbara Mann, 375 W. Broadway, Richview Steven R. Vestal, 604 N. 21st St., Herrin Amber N. Vowell, 111 W. Sloan, Harrisburg Lynette M. Arnold, 600 Mary Lynn Drive, Marion Jana Mitchell, 120 E. Walnut, Carrier Mills Rex Eugene and Margaret Elaine Rusler, 1301 W. Delaware, Fairfield James W. and Marie L. Whitecotton, 206 W. Nettie St., Sesser Deborah L. Youngs, 10108 E. Richview Road, Mount Vernon Kellie J. McClure, P.O. Box 141, Freeman Spur Paul D. Money, P.O. Box 499, 601 Fourth St., Norris City Southern Illinois Steel Erectors, Inc., 512 S. Walnut, Pinckneyville

Find more business news at www.sbj.biz.

Michael E. Thornton, 2805 Illinois 13, Pinckneyville Christopher E. and Corina D. Warren, 16686 N. Illinois 37, Mount Vernon John H. and Davi L. Collins, 12494 E. Bethel Road, Mount Vernon Ellen J. Waldron, 1009 S. 13th St., Herrin Thomas H. Thornton, 301 Water Works Road, Pinckneyville Jackie D. and Deborah V. Hodge, 801 Kerr St., Brookport David B. Hungate, 8527 Summer Road, Thompsonville Lora L. Lill, 502 Parrish Ave., Marion Angela Marie Faulkner, 605 N. 18th St., Herrin Ronald Eugene Lynn Jr., 1529 CR 2600 North, Grayville Allen Dewayne and Carrie Evelne Rider, 30 Schlenker Road, Anna Patrick H. Wallace, 1402 Filmore St., Metropolis Debra Kay Owens, 1417 N. Franklin, Apt. 8, Benton Darla K. Gills, P.O. Box 113, Thompsonville Jerry L. Griffith, 3146 Lufkin Road, Mounds Ryan N. Overstreet, P.O. Box 735, Carrier Mills Max R. Robinson IV and Kala N. Robinson, 145 Indiana, Tamms Cora E. Morse, P.O. Box 494, Carrier Mills Jeanna L. Williams, 4260 Heritage Landing, Apt. 306, Mount Vernon Keith Omar Eckles, 1608 N. 17th, Apt. 19, Mount Vernon Tammy J. Kubiak, 201 E. Cleveland, Apt. 1B, West Frankfort Brandon Abraham Hale, P.O. Box 184, Carbondale Melvin E. and Lauri Anne Lesser, 32152 Illinois 127, Tamms Susan D. Rogers, 8445 Battle Ford, Stonefort Mark A. and Angela L. Dillinger, 806 Main, Carterville Tamara L. Rasch, 3435 Illinois 13 W, Harrisburg Ryan P. Jones, 1412 Pearl St., Eldorado James R. and Ellen M. Neikes, 314 N. Maple St., Christopher Chad Michael Dilley, R.R. 1, Lot 28, Albion Carl Lewis and Sherri Janeen Delvental, 503 W. Douglas St., Fairfield Michael Patri and Latisha Marie Dunning, 1607 N. Bentley, Marion

Brandi M. Campbell, 3304 Wildrose Drive, Mount Vernon William R. and Lori J. Showers, 504 E. Saint Charles Ave., McLeansboro Richard W. Lincoln Sr. and Pamela M. Lincoln, 27995 Cedar Road, Centralia Megan J. Jackson, 306 S.E. Four th St., Fairfield Angela R. Adams, 212 N. Spencer St., Mounds Dennis A. Ser vice, R.R. 1, Box 129, Springerton Steven Dale and Sonja Lynell Reiman, 1436 Sugar Hill Road, Ava Harlen E. Ingersoll, 307 Millster, Elkville Hedy L. Edwards, 17113 E. Don A. Sue Lane 10, Opdyke Steven G. and Laura S. Mudd, 300 Willow Run Drive, Red Bud Rebecca Jan Acklin, 206 Old Villa Ridge Road, Mounds Jamie R. and Tabatha R. Wilkin, R.R. 1 Box 23L, Mount Erie

Chapter 13 Monica J. McGinley, 1422 Julianne Drive, Marion David A. and Shandale Bloodworth, 520 N. Eighth, Herrin Jerry R. Rice, 201 Orchard, Zeigler Brian J. Rendleman, 11383 Rock Creek Road, Pittsburg Teresa Ann Nance, P.O. Box 202, Brookport Timothy R. and Teresa K. Emmerson, 412 Front St., Grand Tower Diane Sue Coloton, 1300 Susan Lane, Carterville Jeffery L. Helton, 283 Bucher Road, Mounds Joe M. and Katheryn J. Kerr, P.O. Box 547, Tamms George H. Hertter III and Lindsay J. Hertter, 3650 Doug Sumner Lane, Metropolis Shannon D. Harrison, 409 S. 29th St., Herrin Sarah R. Kulich, 305 N. Stotlar St., Benton Donald R. Jenkins, 12536 Old Frankfort Road, Marion Walter C. and Velma L. Thompson Jr., 403 W. Cline, Marion Corey L. Gregory, R.R. 1 Box 67, Sims Shawn A. and Jessica M. Hill, 1040 Washington County Line Road, Marissa Wayne V. and Elia B. Pruitt, P.O. Box 335, Brookport James M. and Amy M. Genet, 16438 Akin Blacktop, Benton Deserae A. Farmer, P.O. Box 1681, Benton Nora Janette Cullins, P.O. Box 4, Wayne City Deborah I. Scott, 560 Pankey Road, Carrier Mills SEE FINE PRINT / PAGE 23

OCTOBER 2012

SOUTHERN BUSINESS JOURNAL

FINE PRINT FROM PAGE 21 Jarrett A. Cash, 158 Jan Lane 1, De Soto Loren Douglas and Michelle Molly Isaac, 311 N. Pear St., Mount Carmel John D. Mohr, P.O. Box 1142, Benton Lisa D. Riddle, 129 S. McKinley St., Mounds Carolyn J. Murrow, 411 Marsh St., Harrisburg Anthony Andrew Ramos, 105 Estate Drive, Chester Joyce L. Vickers, 500 White Oak St., Stonefort Rodney L. Lindsey, 515 E. College St., Marion Billy R. and Kristy J. Jeffords, 5390 Wards Mill Road, Marion Bernard M. Majeski, 23362 U.S. 45, Ozark Michael E. and Cheryl L. Shadowens, 301 E. Ford St., Energy Brandon X. Battles, 214 E. James and Thelma Walker Ave., Carbondale Justin G. and Brandy L. McBride, 412 South St., Anna Michael L. Taylor, 30 Sids Point Drive, Creal Springs Rita J. Ramage, 910 E. Cedar St., Olmsted Michael D. Sweikousky, 1708 E. Elm St., West Frankfort Jimmie L. and Margaret Sue Harmon, 102 S. Marion St., Sandoval Donald E. and Marlene G. Harmon, R.R. 2, Box 102, Patoka

Robert D. and Amber Y. Thompson, 905 W. Prairie St., Marion Erie V. Patton, 3104 Blackberry St., Mount Vernon Olusegun A. Fasunan, 2475 U.S. 45 North, Apt. 207, Harrisburg Silena Tompkins, 6340 U.S. 51, Villa Ridge Daniel S. Smith, 608 Crestview Drive, Steeleville Donald J. and Sharon R. Fielden, 412 N.W. Fifth, Fairfield Patsy L. Rogers, 507 E. Russell, Carbondale Wendall K. and Martha L. Poropat, 300 E. Jefferson, Marion Inis Barney, 234 N. 14th St., Murphysboro Robert G. Burke, P.O. Box 541, Murphysboro Randall E. Freeman and Nora L. Stanard Freeman, 106 Young Ave., Anna Anthony Ross and Laura Gail Garlich, 10281 Illinois 15, Nashville Julianne S. Locke, P.O. Box 94, Carbondale Herman F. and Janet R. Beck, P.O. Box 302, Pinckneyville Mary A. Woods, 221 W. Poplar St., Du Quoin Martha L. Powell, 224 Douglas, Cairo Francella Hollis, 3209 Commercial Ave., Cairo Kirby S. and Pamela D. Crites, 996 Forest Ave., Marion Scott W. and Stephanie K. Mabry, 112 E. Bond, Benton James L. May, 333 Fifth St., Omaha Chanez D. Murray, 805 N. Almond St., Carbondale

TAX: Taking the bite out of gift taxes FROM PAGE 11 add leverage to the estate planning aspect of a CLAT. For example, if the property appreciates significantly during the life of the trust, in part because of a low starting point, beneficiaries could receive the property at a higher value when the trust terminates without any corresponding increase in potential tax liability. Although tax law requires that all payment amounts to the charity be specified when the CLAT is established, it does not require that each annual payment be the same. What’s known as a shark-fin CLAT takes advantage of this by making minimal payments throughout most of the trust’s life, with a balloon payment in the final year of the trust — large enough to cover the amount necessary for the trust to earn a

100 percent gift tax deduction, according to the IRS discount (hurdle) rate. Keeping the payments small during all but the final year of the trust may help the assets inside the trust appreciate more. And, any appreciation in excess of the hurdle rate may be passed to the heirs free of gift tax. As you no doubt see, CLATs can be complicated. If you want to establish one, be sure to talk to your financial advisor and tax advisor and make certain your CLAT is established correctly and complies with all applicable requirements. MICHAEL P. TISON is an investment advisor and registered principal with Raymond James Financial Services, Inc., with offices in Harrisburg and Marion. He can be reached at 618-253-4444 or michael. tison@raymondjames.com.

Entrepreneur’s Mailbag What’s in a name? Everything! BY CAVANAUGH L. GRAY SBJ CONTRIBUTOR

A little more than a decade ago, I had an opportunity to work for a unique little start-up that provided technology to hoteliers and others in the hospitality industry. The company was Gray ahead of its time; however, one of the things that stood out was its name. It often elicited puzzled reactions and seemed to violate some, if not all, of the business naming conventions. For starters, the name was difficult to spell. Though creative, the name had a hidden meaning that only the founders seemed to know. Lastly, the name was hard to pronounce. However, I would guess that none of that really matters when you go on to sell your company for $41 million. The following are some of my tips for naming your company for business success. Determine a goal for the name. I have seen some business owners choose names for their companies that had little or no connection to what the company was all about. For this reason, you will want to determine the purpose behind the name as it will often set the expectation for potential customers. Try to imagine the name of your company as the lifelong label that it is and the bigger role it plays in the development of your brand. Does the name describe who you are and give the reader a good idea of what you do? Trip Advisor helps travelers plan the perfect trip. Is it easy to spell and pronounce? The names Nike, IKEA and Coach come to mind. Does the name inspire you to take action? The brilliance of YouTube is that it encourages you to broadcast yourself. Does the name trigger an emotion or spell out a clear benefit? Netflix offers the convenience of your favorite movies all from your laptop. Is the name sticky or catchy? Some names that come to mind include

SoundHound, Groupon and PayPal. What’s your story? I love a good story and never miss an opportunity to listen in on one. My story begins after realizing I’d had enough of corporate life. In getting my company off of the ground, I would wake at the crack of dawn, fire up the coffee pot and spend a few hours working on my dreams before heading into the office. After three months of early mornings, it seemed only right that I name my company after the place and time where coffee and business converged; thus, The Entrepreneur Café, LLC was born. I don’t think that my company’s name follows all of the rules either, but there is an exception to these rules. If the name you are considering has deep personal meaning as it relates to your business, then, by all means, you should go with it. A recent search turned up countless organizations with the name Tsunami in the title. When looking to name your company, try avoiding names that incorporate national disasters. Be sure to weed out other questionable names that may leave readers with a negative connotation. Avoid names that might be seen as divisive in nature. Stay away from names that have a connection with individuals whose character has come under question. Lastly, try not to overuse names or terms that have a connection with a particular region or period, since it’s easy for the name to lose its uniqueness. Whether or not you have a well established business name, it’s important to remember that these same naming rules can be applied if you are looking to launch a new product or introduce a new service. CAVANAUGH L. GRAY (cgray@ecafellc.com) is director of business development for The Entrepreneur Café, LLC, 877-511-4820. For more information on developing a company name, or to read a chapter from his new book, “The Entrepreneurial Spirit Lives: 25 Tales to Help Entrepreneurs Start, Grow, and Succeed in Small Business,” log on to www.ecafellc.com. For more information on how to start, grow and succeed in small business, like us on Facebook, follow us on Twitter @TheECafe and connect with us on LinkedIn.