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In 2010, former Red Sox pitcher Curt Schilling moved his 38 Studios to Rhode Island from Massachusetts. Losing the video game production company to its neighbor to the south was considered a “Strike Out” by the Commonwealth state. The company plans on bringing hundreds of jobs to Rhode Island by the end of 2012. Ouch! It was a high profile economic loss for Massachusetts.
It seems like every day there is an event, whether domestically or internationally, that has an impact on the world economy. Whether it’s earthquakes in Japan, uprisings in the Middle East, or floods in the heartland of the country, there always seems to be something happening that potentially will have an impact on your business. Knowing what’s coming next is certainly not something you have the ability to predict, but having a plan in place BEFORE it happens will make responding to it a lot less painful.
In the course of providing professional services to over 185 not-for-profit organizations I see a number of employer sponsored pension plans. Almost all of these are the defined-contribution type of plan where an annual contribution is made into the plan and the employee ends up with whatever that amount has accumulated to when they retire and leave the company. Most employers have also established a plan where the employee can save some of their own salary toward their retirement nest egg.
Many of you may be aware that in 2008, the Federal Trade Commission (FTC) issued its Red Flag Rule (the Rule), which is intended to help fight identity theft.
While nothing can compare to a thorough and detailed valuation, I have complied what I believe to be the top 5 issues to consider when valuing a closely held business:
As the primary author of this report, it was very exciting to see the enthusiasm for the possibility of the Cup returning to Newport in 2013 displayed by RI business and civic leaders. The general consensus is that this could be a “game changer” for the Rhode Island economy which has really suffered during the last three years.
Earlier this year the Association of Certified Fraud Examiners issued their 2010 Report to the Nations on Occupational Fraud & Abuse (the “Report”).
We spend a lot of time talking about the obvious when it comes to fraud; how the fraudster is trying to misappropriate corporate assets for personal or professional gain, how personal greed outweighs the moral and ethical principles that the majority of us abide by, what we need to do to protect ourselves from these threats.
In my last post, I highlighted some of the different areas that are susceptible to fraud within an organization
Take note of new trends in the hospitality industry that could affect your business.