On Wednesday, July 11, 2012 Greater Akron Chamber, PolymerOhio and Moldex3D will be presenting Growing Your Business through Computational Modeling: Moldex3D Injection Molding Simulation Tools.
The ‘Lunch and Learn’ event will introduce participants to Moldex3D, the first 3D mold flow analysis software. The software is now available through Polymer Portal and can be used to reduce cost and time to design and fabricate injection molds.
PolymerOhio is an Ohio Edison Technology Center and developed the “Polymer Portal” in conjunction with the Ohio Supercomputer Center to provide affordable access to productivity-enhancing software and training.
Questions regarding this event may be directed to Lynda Wright.
Student loan debt has surpassed credit card debt and is predicted to cross $1 trillion this year
According to Emily Barker at Co-operative News, students may find a “saving grace” in credit unions.
While many banks have began to shy away from the student loan market, credit unions are still committed to providing fixed rate loans for students struggling with debt.
More than 130 credit unions nationwide have joined together to launch cuStudentLoans to connect students with not-for-profit lenders. cuStudentLoans now serves 2.1 million credit union members and has US$18 billion in combined total assets. Credit unions not only decrease the interest on student loans, but they actively encourage better debt management.
To read more of this article at Co-operative News, click here.
Earlier this month, SS&G, an employee-owned accounting firm based in Montrose, Ohio, celebrated their 25th anniversary. SS&G began with only 2 employees, and since then the firm has grown to become the 41st largest accounting firm in the US with more than $70 million in revenue last year and more than 450 employees. To celebrate their anniversary, the firm hosted a luncheon program for the Greater Akron Chamber’s Young Professional Network members. Read more on this story from the Beacon Journal.
Business Wire recently announced the accomplishments of Neuberger Berman since they converted to employee-ownership three years ago. In their goal to become 100% employee owned, the company committed to and began payments on equit purchases from Lehman Brothers Holding in April 2012. Since March of 2011, they have acquired $11.5 in new institutional business and increased mutual fund assets by 11%.
Long Island Business News reported that the employees of Peerless Electronics have purchased 100% of the firm through an ESOP as of May 30. The executives agreed that an ESOP was the best way to “ensure the continued success of Peerless for the benefit of its employees, customers and suppliers.
This article appeared in the New South Chapter of the ESOP Association quarterly newsletter and was shared by Bradley Arant Boult Cummings LLP.
When considering, creating and administering an ESOP, there are some important issues that should be considered including valuation, diversification, the role of employee owners, and debt services.
Regardless of how an ESOP is used, there are some unique concerns that plan sponsors, trustees, and other fiduciaries of such plans should consider in connection with the creation and ongoing administration of the ESOP.
The purpose of the film is more than entertainment. In conversations with your humble scribe, Executive Producer Mary Ann Beyster expressed the additional goal that the film be a tool for broadening the discussion and teaching of the concept of employee ownership in the nation’s universities and MBA programs (a goal that we at the OEOC certainly applaud and support).
Scheduled for release in Summer 2012, you can view the trailer at the site linked above or on YouTube.
The Foundation for Enterprise Development was founded in 1986 by Dr. J. Robert Beyster. The Foundation’s mission is to promote broad-based employee ownership and entrepreneurism.
The Christian Science Monitor has a nice article highlighting the cooperative business model.
Two important points are made in the piece:
Co-ops worldwide represent much more than hippie grocery stores: They’re a fast-growing way to do business better in fields from finance to agriculture to industry…
…Cooperatives are more widespread than you might think. From banks and credit unions to apartment buildings to worker-owned businesses, co-ops appear in every facet of today’s economy. In most cases, they formed in response to economic crises like the Great Depression, or to let small groups compete in monopolized markets. In 2012, both of those conditions exist – and unsurprisingly, so do cooperatives.
All too often when talking to the general public about cooperatives, misconceptions and misunderstandings occur about the nature and scope of cooperative enterprises. The truth is, there is enough flexibility in the cooperative model to handle any type of business endeavour.
If you’re interested in learning more about cooperatives, we invite you to attend the Ohio Cooperative Symposium: Cooperative Business Structure for Small Business Owners and Operators in Akron on April 19. This program is underwritten by the USDA Rural Cooperative Development Grant and brought to you at no cost.
Cooperative enterprises are successful and common business models playing a vital role in our local communities. This session is for anyone interested in learning more about cooperatives and talking with people who have worked with successful co-ops. Sessions will include basic and advanced cooperative topics as well as tracks on developing Co-ops and Cooperative activities in the Food Community.
For more information on topics to be discussed and registration click here.
DotCoop, sponsor of the .coop domain name, announced the winners of its Cooperative Excellence Awards last week. One of the more interesting winners, at least for me, was s.coop, a web link shortening service.
For those of you who don’t know what a ‘web link shortening service’ is, well, let me show you.
If you would like to read a nice article about the full slate of award winners on the excellent Co-operative News website, I could provide you with the following link:
(posted by Jay Simecek, exit planning professional with the Succession Planning Program at the OEOC)
A recent conversation with a small business owner thinking of retirement reminded me of interesting reality checks for those considering the sale of their business. The big question is always “how much can I get?” Seems like an easy question, right?
Well not so fast.
First, the price you receive is strictly up to the proverbial “willing buyer.” It makes no difference what your accountant, attorney, wife, or brother-in-law think. Find a buyer.
Second, that buyer will normally only pay based on past performance, not potential. That is, your past performance, and not his potential. Find a qualified business valuator for a start.
Third, what you sell for and what you keep are two different things. And guess what, Uncle Sam wants a lot. Find a good tax planner.