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Conway Center for Family Business

Monthly Message--November 2010

November Educational Program

Healthy and Wealthy: Saving money and enhancing family business employee wellness

Thursday, November 18th - 7:30 - 9:00 a.m.

Alumni Hall at Ohio Dominican University, 1216 Sunbury Road

Are you looking for ways to decrease your health insurance costs? It's an issue that has many family businesses concerned as the amount of money they spend on insurance premiums continues to increase at an alarming rate. One way to shave costs is to develop and implement employee wellness programs.

During the November 18th Educational Program, we'll explore options for family businesses to implement effective and affordable wellness programs to cut costs while improving morale and productivity. We'll also look at whether wellness plans impact insurance costs for employees and employers, and whether employee incentives actually work.

Scott Rider, of Rider Financial Group, and healthcare and ERISA experts, will share their expertise and provide feasible suggestions for you to improve your employees health and your bottom line.

If you are planning to attend this program, please let us know by contacting Educational Coordinator, Deana Gordon at gordon@familybusinesscenter.com.

Mark Your Calendar -- Last program of the year!


Thursday, December 9th - 7:30-9:00 a.m.

Alumni Hall at Ohio Dominican University, 1216 Sunbury Road

All business owners want to see their company survive and thrive. But family business owners desire more. They want both their business and the family members who are involved with it to be successful. They've invested their time, their money and their hopes and dreams in a venture that they envision will provide for their family members for many years to come.

So, how do you keep the dream alive and make certain that your family business will stay with your family? Family business attorney, Bea Wolper, of Emens and Wolper Law Firm, and Tim McDaniel, Director of Valuation and Succession Planning at Rea Strategic Solutions, will discuss how to talk about succession issues with your family and how to establish policies to ensure that the family business stays in the family. They'll also discuss the importance and ins and outs of both pre-nuptial and buy-sell agreements as they pertain to the longevity of a family business.

Don't miss this valuable and timely presentation. Contact Deana Gordon, at 614.253.4820 or gordon@familybusinesscenter.com, or visit our website, www.familybusinesscenter.com, to register. The program is free for Conway Center members, $35 for non-members.

Tune In.

Radio Show All About Family Business

Family business leaders now have one more source of information about family business issues and topics including tax tips, exit strategies, and year end planning. The Family Business Radio Show, based at Atlanta's Business Radio-X, can be accessed on your computer with just a few clicks of your mouse. The show is designed to educate, inform and support family-owned businesses and provides a platform to showcase "family-owned businesses, key executive non-family members who are helping to drive those businesses, and the professional advisors that assist them". Guests include advisors and family-business owners who provide first-hand insight and share experiences about overcoming obstacles and maintaining family bonds as they build their businesses. If you would like to try it you can listen live every Thursday from 1:00-2:00 p.m. (EST) or choose a recorded podcast on the topic of your choice at http://familybusinessradio.businessradiox.com/.

Directors' Insight

Dick Emens and Becky Blatt

We've been touched by the many kind words and comments we've been receiving from members lately about changes and additions in our programs, events and our website. Your feedback is encouraging and appreciated. It is through your participation and direction that the Conway Center can continue to grow and provide tools and opportunities for Central Ohio family businesses to grow and thrive. We are always seeking family business leaders willing to share their stories and experiences with other members through our educational programs and as participants in our peer groups, and by helping us to promote the Center by being featured in The Family Business Communicator or the videos on our website. We are especially interested in any family businesses that are willing to be a part of our website and newsletter as we work on updating them for 2011. If you are interested in any of these opportunities, please contact one of us or Deana Gordon, Program Coordinator. ~~Dick and Becky

Welcome New Member

MT Business Technologies/Meridian Managed Technologies Co.
Carl Fernyak and John Fernyak
1150 National Parkway, Mansfield, OH 44906 | 419.529.6100 | www.mtbt.com

When the Mansfield Typewriter Company opened its doors in 1918, typewriters were considered advanced office technology. By 1972, the company had expanded its product lines to include copy machines. In 1974, Carlton Fernyak, I, and his son John Fernyak secured ownership of MT. Since then the Fernyaks incorporated five more locations throughout Ohio including Avon Lake, Toledo, Cleveland, Columbus, and Akron. In 2009, Meridian Managed Technologies in Westerville was added to provide technology services. Today, both MT Business Technologies, Inc. (MTBT) and Meridian are owned and operated by Carlton Fernyak II, CEO, and his father, John Fernyak, Chairman of the Board. MTBT is now one of the largest independent dealers for imaging equipment serving north central Ohio and southern Michigan. MTBT offers a progressive line of total office technology ranging from copiers and printers to complete network integration and electronic document management. Although the office technology that the Fernyak family provides continues to improve and change, their dedication to providing state-of-the-art products, excellent service and complete customer satisfaction remains constant.

12th Annual Family Business Awards

Congratulations Honorees

This year's Annual Family Business Awards Luncheon provided an opportunity to meet other family business leaders, spend time with old and new friends, and recognize the successes and milestones of some of Central Ohio's finest family-owned businesses. The event was held at the Sanese Family's Catering by Design Event and Conference Center, allowing the Center to accommodate its biggest crowd ever with more than 300 family business leaders and advisors in attendance. In addition, White Castle's Undercover Boss, Dave Rife who appeared on the CBS TV show enlightened the crowd with the lessons he learned during his time undercover.

Congratulations to this year's award winners:

Milestones: Americheer; Capitol Tunneling; Carmen's Distribution Systems; Converse Electric; Dublin Building Systems; Earman and Wood, CPA's; Mid-City Electric, Ohio Custodial Management Corporation; RICOP; and Sutphen.

Reinvention: Eclipse Corporation; Gummer Wholesale; Robin Technologies; and Sanese Services.

Succession: Converse Electric; Edwards Steel; Spartan Logistics; and Velvet Ice Cream.

Communication: Artina Promotional Products; Jeni's Splendid Ice Creams; Ohio Power Tool; and Rent-A-John Portable Sanitation.

Community Engagement: The Charles Penzone Salons; Donatos Pizza; Schoedinger Funeral and Cremation Service; and White Castle.

Outstanding Support of the Conway Center: The Conway Family.

Outstanding Service to the Conway Center: Norman Jones Enlow.

Thank you once again to our sponsors: Chester Willcox & Saxbe, Commerce National Bank, The Guth Group at Morgan Stanley Smith Barney, Business First, Paul Werth Associates, Rider Financial, and Webbed Marketing.

New TV Show

Producer Looking for Family Business Owners to Participate

We recently received a request to share information about "KEEP IT IN THE FAMILY", a new show from Donald Trump and 44 Blue Productions that they intend to air on a major U.S. network. Each episode follows a real-life family who tries to convince their adult child to come back home and take over the family business. During the first week, they learn the business from the ground up, then in the second week, they take over to run it their way. By the end of the experience, they have to decide whether or not they are ready to come back and KEEP IT IN THE FAMILY.

The producers are looking for dynamic personalities who run their own businesses and want to pass the torch to the next generation. They claim it is going to be a positive show about what it takes to pass on a family owned business, not a sensational docu-drama that looks for the worst in people. It will require a two week filming process and could generate thousands of dollars in new sales for the business that is featured. In addition, they will provide a small stipend for the owners and the next-generation leaders who participate. It has been a hit show in the UK for several seasons and has provided the featured businesses with invaluable exposure and publicity.

If you are interested in this opportunity, contact Gigi D'Amore directly at: gigidamore@gmail.com, or keepitinthefamilycasting@gmail.com, or 818-760-4442, ext. 229. You can check out the UK version at this link: http://www.44blue.com/videos/KeepItInTheFamily772010/

Family Business Wiki. Check It Out!

If you've never visited the online Family Business Wiki, now you've got a great reason to go there! An article on Personal Development Plans by Center Co-Founder Bea Wolper was recently featured in the Family Business Wiki Town Square,http://familybusinesswiki.ning.com/ alongside articles about Next Gen issues, Trends in Family Businesses and Profitability. The Family Business Wiki site offers discussion groups, videos, blogs, networking and advice all targeted to family businesses and issues that affect them. Check it out today to expand your family business knowledge!

Interesting Reading for Family Businesses

Ohio recycler Coll adding Southwest US plant

"We have invested $8 million in the last two months,said Brian Coll, CEO of the family-owned business that he started in the basement of his home..."

Safe and smooth rides

It's a family-owned business No. 1, but more importantly it serves Michigan families by providing safe and dependable transportation to and from school ...

Rekindling the family business

The founder of Yankee Candle now looks to get back into the business with a new shop...

50-Year Niche

Despite the sluggish economy, one Memphis-based, family-owned business continues to thrive. While many competitors have either sold or liquidated...

Business owners: Consider prenuptial policy

When it does, divorce can be especially messy in a family business. For this reason, prenuptial agreements are a must for family business owners and their ...

Siblings take over ice-sculpting firm

Julian Bayley is aware that he waited too long to start the succession-planning process for the family business. But better late than never ...

PWC US Releases New Guide to Tax and Wealth Management and Updated Online ...

The Guide identifies common mistakes, describes different types of family business structures (S-Corp, C-Corp, Partnership, and LLP), outlines how to plan ...