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Conway Center for Family Business

Monthly Message--July 2010

Health Care Reform: Have You Formed a Strategy?

Presented by Edward Murphy and Bernie Ostrowski of Plante & Moran

Thursday, August 5, 2010
7:30-9:30 a.m.
Ohio Dominican University's Alumni Hall

Health care reform is upon us and grasping the impact of the multitude of changes it presents is proving to be a challenge for most business leaders. It also has many family business leaders asking, "How will the changes impact my company in particular?" Experts project that the reforms will cause a 2-5% minimum increase in health care costs above and beyond normal healthcare inflation. Do you have a strategy in place to address these changes? Have you figured out which choices are right for your family business? Or are you struggling to understand the nuances of the many changes coming over the next several years and searching for strategies you can employ that will benefit your business? Find out the answers to your questions and learn more about this complex issue at a bonus summer program.

President of Plante Moran Group Benefit Advisors, LLC, Edward Murphy, CEBS and Plante & Moran tax partner Bernie Ostrowski, JD, CPA, will discuss the new law and its implementation over the next several years with a special focus on the challenges faced by family businesses and strategies for providing health care coverage. They will cover the expected consequences of the legislation, including the tax implications, employer responsibilities, and effects on employee benefit plan design and offerings.

This program will fill up fast so reserve your spot today by contacting Deana Gordon, at gordon@familybusinesscenter.com or 614.253.4820, or by registering at www.familybusinesscenter.com

The program is free for Conway Center members and $35 for non-members.

12th ANNUAL FAMILY BUSINESS AWARDS PROGRAM

NOMINATE A FAMILY BUSINESS TODAY!

Are you or do you know a family business that deserves to be recognized for a significant accomplishment during what has been a year full of challenges? Perhaps you know a family business that has successfully transferred the leadership of their company from one generation to the next, found a unique solution to a complex business problem, made a contribution to our community or gone above and beyond the call of duty to help an employee, customer or vendor? The Conway Family Business Center wants to recognize and celebrate the exemplary accomplishments of Central Ohio's family-owned businesses at our 12th Annual Family Business Awards Program on Friday, November 5, 2010 at Catering By Design Event and Conference Center on Busch Boulevard.

Award Categories

-Community Engagement--recognizes family businesses that have made a significant contribution to the Central Ohio community.

-Succession Planning/Implementation--recognizes family businesses that have developed or completed a succession plan or a transfer of leadership

-Milestone Achievement--recognizes family businesses that have reached a significant milestone during 2009 (longevity, business or other significant achievement).

-Re-Invention--recognizes family businesses that have successfully adjusted their business strategy or focus to address a changing business climate or societal demands.

-Communication--recognizes family businesses that have developed tools or strategies for effective communication within their company or with members of their family regarding the business.

-Supporter of Family Business--recognizes organizations or individuals that have shown support or demonstrated a commitment to the strength, success or longevity of a family firm.

Success should be recognized and rewarded. The Conway Center for Family Business will recognize exemplary family businesses in each of these categories at our annual awards luncheon. Family businesses being honored will be featured in the November 12th edition of Business First and will be provided with 4 complimentary seats for this event.

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How to nominate:

Visit Awards Details for more information and Awards Nomination to submit your nominations online. If you prefer, you may e-mail Becky Blatt at blatt@familybusinesscenter.com with the name of the family business you are nominating and contact information for someone at that company. Be sure to tell us which award you are nominating the family business for. We want to hear any and all stories of family business success; no story is too small! All family businesses nominated will receive an application that must be completed to participate. Self nominations encouraged.

Your family business success story could inspire, enlighten or motivate others. We want to know about your accomplishments and celebrate your success. Submit your nomination today! Nominated family businesses will be contacted by the Center and asked to complete and application form and provide materials for consideration.

Nominations due - Monday, August 30, 2009
Completed applications due - Monday, September 13, 2009

Sponsorship for our Awards Program is provided by:
*Chester Willcox & Saxbe, Commerce National Bank, Business First, huber+co. interactive, Rider Financial, Webbed Marketing and The Guth Group at Morgan Stanley Smith Barney

Conway Center Directors Insight

By Dick Emens and Becky Blatt

It has been our pleasure to work with Darci Congrove of GBQ Partners and Mike Schoedinger of Schoedinger Funeral and Cremation Service for the past two years as they have served as co-chairs of the Center's Program Committee. We are grateful for their commitment to the Center and for their leadership as they helped us expand our educational offerings and develop a series of outstanding educational programs for Central Ohio family business leaders. With Darci and Mike "retiring" from this volunteer commitment, we are looking for two Conway Center members who are interested in assuming the roles of Program Committee Co-Chairs starting this fall.

The "job" requires a willingness to hold a few meetings in September and October to brainstorm possible topics for inclusion in our program schedule, identifying potential speakers and helping us develop an educational agenda for the following year. We would also like a co-chair to introduce the speakers at the monthly programs. If this opportunity interests you, we'd be pleased to know. Please send Becky an e-mail at blatt@familybusinesscenter.com so we can arrange a time to talk about the Center's educational programming for 2011.

Employee Social Media Use: Danger to Your Business?

Compliments of Sequent

A baking company fears an executive is going to share recipe secrets with a competitor. That would never happen in your company. Right? Think again. A recent survey finds 50 percent of online users have revealed company confidential data through an unsecured Web mail or social media account. As more and more people in the workplace communicate electronically... how serious is the danger? What should you do to protect your organization's interests? Read on for the answers. Full Article

Employment News for Family Business Leaders

By Marc Fishel of Downes Fishel Hass Kim

Last month, the Ohio Supreme Court ruled that it is not gender discrimination for an employer to deny maternity leave to a worker after approximately eight months of employment. The Court found that where a company employment policy requires a minimum term of service for any employee is eligible for leave, that policy is not direct evidence of sex discrimination under Ohio's civil rights statues as long as the policy is uniformly applied to all employees. Read on for more information. Full Article

Interesting Reading...

On Family Business Topics

Win Working with Kin from Investors.com
Follow the formula. White Castle accomplished the feat. The co-founder's grandson, E.W. "Bill" Ingram III, has served as CEO of the burger chain for 32 years. Three more third-generation and 10 fourth-generation descendants are also on board...

How to Fund Your Family Business from D & B
In a down economy, family-owned businesses are finding it harder to land funding . Here are some alternatives to getting the cash you need to run your ...

Will The Yankees Remain A Family Business? by Forbes (blog)
Almost in lockstep with their tributes and condolences following the death of George Steinbrenner, New York Yankees executives were adamant that there are ...

Prenups a plan for the unexpected from Press & Sun-Bulletin
In a breakup, the attorney for the other partner could go after a share of the "family" business. One partner is much wealthier than the other...

How You Can Lose When Funds Pass the Baton from Wall Street Journal
He says he's upset his father didn't ask him to return to the family business. Still, if he could do it over, he wouldn't do anything differently: "I got a ...

Family business succession from BusinessWorld Online
Based on my personal experiences, manage ment succession is the most important concern of almost all family business leaders especially when they reach the ...

Our family's journey to a family council from Family Business Magazine
The family council would be a representative governance body, with each branch having ....

Succession planning critical for family-owned businesses from The City Wire
At the Family Enterprise Center's (FEC) quarterly breakfast held Wednesday (June 30), De Soto spoke to more than 60 entrepreneurs who had gathered at the ...

Rising Through the Ranks of a Family-Owned Business by Scott Moorehead
Family-owned businesses can be tricky. It seems as if at one point in ...

Lending Family Business Money to Family Members is a Big NoNo from Ezine Articles
"Never borrow money from your family" is standard advice, and it applies equally to family businesses. Given today's economy, however, people are needing to ...

Save the date!

7th Annual Family Business Tour and Networking Event

When: Thursday, August 26, 2010
Where: Artina Promotional Products, 250 S. Liberty Road, Suite 250, Powell, Ohio 43065
Time: from 4:00 p.m. to 6:30 p.m.
Hosts: Artina's founder Chris Bouzounis, daughter Matina Zenios & son Art Bouzounis

All the details will be shared in next month's e-newsletter or can be found at www.familybusinesscenter.com.