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BRIEFLY:
General Assembly releases Spring schedule
The 96th General Assembly will convene on January 14, 2009 and is scheduling more than 60 days of session. According to the calendar published by House Speaker Michael Madigan, the House is hoping to adjourn on May 31 although many expect another overtime session will occur.
The odd numbered year of a General Assembly means that upwards of 10,000 bills are likely to be introduced and considered during the five-month long Spring session. While the majority of legislative ideas do not advance far, the IMA does a complete review of every bill introduced to gauge the effect on manufacturers in Illinois.
IMA's Business Day is scheduled for May 6th in Springfield. Save the date and plan to join hundreds of manufacturers as we engage with legislators to deliver our message of pro-jobs and pro-growth.
Trade Winds Europe Webinar Series: The Basics of Exporting to Europe, Part 1 — December 12, 2008
"The Basics of Exporting to Europe: Mastering Logistics and Maximizing Profit, Part 1" represents the second of a three-part webinar series focused on building your business in Europe.
This webinar provides a general overview of incoterms, an especially important component in determining your shipping terms and profit margins. The webinar will also examine the importance of "landed costs" in your export quotations, including shipping, value added taxes, tariffs, custom's fees, etc.
Speakers include Mike Allocca, President, Allocca Enterprises and a representative from UPS.
Log on Friday, December 12, 2008, from 9:00-10:00 AM CT. Register at www.buyusa.gov/newhampshire/twewebinars.html.
Print version of IMA'S Executive Memo will not be available in 2009
Due to escalating costs and a dwindling number of members requesting mailed copies, the IMA will cease publication of the monthly printed version of the Executive Memo following the December, 2008, issue. The IMA publishes all newsletters in multiple formats for the convenience of members. IMA's Executive Memo will continue to be published in email summary, PDF and text versions.
If you are currently receiving the Executive Memo through USPS mail and do not have an email address on file with the IMA, please contact Janie Stanley before January 1, 2009, to provide an email address where we may send future IMA newsletters.
Janie Stanley can be reached at 800-875-4462, ext. 3020 or by email at jstanley@ima-net.org.
Additional IMA newsletters include the Human Resources Memo, Healthcare Memo and Tax Policy Memo. If you'd like to sign up for another IMA newsletter, let Janie know.
Watch for new IMA newsletters on critical business issues in 2009.
Energy management innovations for Illinois manufacturing companies
Today's unpredictable global energy marketplace and the rising costs associated with increasing demand for oil and gas, coupled with a growing demand to curb greenhouse gas emissions, have converged to make energy purchasing a dominant issue for manufacturers in Illinois and across the nation.
For manufacturers operating in this complex energy market, the path forward requires careful consideration of costs and the role of enhanced conservation and efficiency efforts, renewable energy purchases, and long-term purchasing strategies. It is also filled with opportunity, and leading competitive energy suppliers are successfully advising owners and managers of office and commercial buildings on how to leverage these opportunities to chart a winning course in a changing energy market.
Innovative energy solutions and demand response
As competitive energy markets continue to develop in Illinois and other states, retail suppliers are responding with a wide array of products and services. These energy solutions range from the long-term price stability of fixed rates to variable rate programs that tailor usage to match the highs and lows of the short-term spot market.
Demand Response programs are one example of these innovative energy solutions. Most facilities already have a management system in place that integrates lighting, heating and air conditioning onto one platform. Enhancing this platform to integrate load response metering and real-time market pricing enables an organization to increase its energy management and conservation efforts, as well as better manage its energy-related risk.
By achieving a broader understanding of a building's energy consumption patterns, owners and managers are better equipped to evaluate and curtail demand at peak times during the year. Those who can capitalize on this knowledge and capability through a demand response agreement with an energy supplier have the potential to reap significant savings worth thousands of dollars and help reduce regional blackouts.
Illinois commercial and industrial customers that demonstrate an ability and commitment to curtailing at least 100 kilowatts of electricity can sign up to participate in PJM's ISO-directed demand response program through a competitive energy supplier. In essence, demand response creates a "virtual" peaking plant where instead of the ISO resorting to firing up the most expensive generating resources to meet peak power demand, it harnesses the energy conservation efforts of the customers themselves. In exchange, participants receive substantial monthly payments throughout the year.
Integrating innovative energy solutions into your building
Today's energy market provides both challenges and opportunities to building operators. With fuel and other energy costs increasing on a daily basis, it is important that office and commercial building owners and managers devise an energy management strategy that protects their bottom line. Building operators who develop a well rounded energy strategy are also well positioned to capitalize on the growing interest from tenants seeking more energy efficient and environmentally friendly work places. Office and commercial building operators that take full advantage of the many opportunities and innovative products available in today's competitive energy market are able to develop a comprehensive approach to energy procurement that meets both their environmental and financial goals.
For more information about better managing your building's electricity budget or innovative energy solutions, contact Constellation NewEnergy
(http://www.newenergy.com) at 866-237-7693 or via email at
loadresponse@constellation.com.
Marketing Webinar will share advice on brand relationship strategies through social media during the recession
White Horse, a fast-growing digital agency, invites marketers to attend a complimentary Webinar to learn how to utilize the power of social media to build stronger brand relationships on a budget.
"Social Media Killed the Branding Rock Star," a complimentary Webinar, will be held on December 10th from 1:00-2:00 p.m. This event will share five practical ways to utilize social media to drive brand goals in 2009.
While marketers know that shoring up brand loyalty is crucial in a recession, they may not know how to harness brand conversations that are already taking place in social media to quickly evolve their market position. Companies that take the opportunity to understand true customer needs will come out on top in 2009 — and the ticket is social media.
"Traditional brand management is slow and expensive," said Eric Anderson, White Horse's Vice President of Emerging Media. "In this economy, companies need real-time insights to get a competitive edge. We are excited to share some proven social media approaches that deliver superior brand relationships on a budget."
Whether companies have active social media programs or have been waiting for an entry point, this Webinar will outfit marketers with proven tools to design effective social media brand strategies. Register for the White Horse social media Webinar at
www1.gotomeeting.com/register/779448047.
White Horse is a 28-year-old digital marketing agency. View a sampling of White Horse's emerging media portfolio at
retail.whitehorse.com/social-media.html.
A recorded version of our previous "Winning Back the Customer: Why Social Media Matters in a Down Economy" Webinar is also available.
Grant Thornton: tax tips for surviving the credit crunch and economic downturn
The down economy and credit crunch have caused many businesses to look for strategies that reduce expenses and raise cash. Grant Thornton LLP offers some tax tips for surviving the tough economy and credit crunch.
"Managing your tax burdens is one area where appropriate planning and action can put much-needed cash back in your pocket," said Dave Auclair, managing partner of Grant Thornton LLP's National Tax Office.
The following five tax tips are intended to be general observations and to highlight ideas that may be helpful.
1. Are you timing investments to take full advantage of economic stimulus legislation? Time is running out to take advantage of the bonus depreciation provided in this year's economic stimulus legislation. Many types of capital investment will be eligible for 50 percent bonus depreciation if the investments are made and the property placed in service in 2008.
2. Are you confident you're taking full advantage of opportunities to accelerate expenses and defer taxable income? An accounting methods review can reveal sound opportunities to defer the recognition of revenue or accelerate expense deductions. While often overlooked in a robust economy, these reviews often result in meaningful and immediate benefits. A change in accounting method sometimes allows benefits that would have been realized in prior years to be recognized in the year the change is implemented.
3. Are you using every opportunity to reduce "above-the-line" non-income tax burdens, such as sales and use or property taxes? Consider whether your business could use a separate leasing or procurement entity to own and lease fixed assets, which can reduce sales and use tax. Challenge property tax valuations on your real property, where appropriate. Depending on your industry, look at other non-income planning opportunities, including excise taxes.
4. Are you using tax credits and saving on your research and development? Many companies miss opportunities to claim valuable state and federal tax credits, especially the federal credit for research and development. The research credit was just extended through 2009, so don't miss it because you don't document or categorize expenses correctly. An R&D study can help you substantiate and claim the full allowable credit.
5. Have you reexamined your tax strategy in light of new profit outlooks in the countries where you have operations? For companies experiencing a new mix of taxes and losses in the countries where they do business, a fresh look at the foreign tax credit may result in significant savings. In the case of an overall foreign loss, foreign source income planning is required.
"Your best approach depends on your industry and the structure of your business," said Auclair. "Facts and circumstances vary, so check with your tax advisor for help in determining how these planning opportunities may apply in your situation."
To view all of Grant Thornton LLP's Tax tips for navigating the credit crunch and slow economy, please go to
http://www.GrantThornton.com/tax.
Virtual Energy Forum on green manufacturing takes place December 10th & 11th
Login December 10th & 11th, 8:00 a.m. — 6:00 p.m. CT to interact with Fortune 500 C-level executives, public policy leaders and energy innovators.
Topics include sustainability, clean technologies, green buildings and manufacturing, alternative energies and more.
Virtual Energy Forum has announced that Keith McCoy, Vice President, Energy and Resources Policy for the National Association of Manufacturers (NAM), will speak on "How Carbon is Greening Manufacturing" on Thursday, December 11th.
Additional speakers within the Manufacturing Track include Mary Ellen Mika of SteelCase, Inc., speaking on "Reducing Manufacturing Costs and Embracing Renewables" and Doug Kaempf of the US Department of Energy (DOE) speaking on "DOE Save Energy Now." More than forty energy leaders are slated to speak at the event, which is free to attendees.
To learn more or register for this free conference, visit www.virtualenergyforum.com.
Join the IMA Energy Program . . .
IMA members looking to compare their electric supply options can go to http://www.newenergy.com/ima
and receive a free, no obligation rate quote.
OfficeMax Advantage can save you 30% or more on your office supplies . . .
IMA members and OfficeMax — a first-class partnership
Go to: http://www.ima-net.org/membership/programs.cfm to download your OfficeMax Retail Connect Card and start saving today!
DATES OF NOTE:
More information/events may be found at http://www.ima-net.org/calendar.cfm and
http://www.ima-net.org/MIT/open.cfm
December 5, 2008
IMA-MIT Event: Time Management and Personal Effectiveness Skills
DePaul University's O'Hare Campus,
3166 River Rd., Des Plaines
Learn to delegate with confidence, plan and execute productive meetings, prioritize daily activities for ultimate results, develop techniques for planning and achieving goals.
December 9, 2008
IMA-MIT Event: Essential Internal Training Skills and Techniques — DePaul University's O'Hare Campus, 3166 River Rd., Des Plaines
NOTE: Attendance is limited to 16, so register early to ensure your spot! Essential Internal Training Skills and Techniques is a one-day seminar that will introduce the new internal trainer or subject matter expert to the skills necessary for them to be a successful trainer or facilitator. Not just a re-titled presentation skills seminar, Essential Internal Training Skills and Techniques will cover such core skills as how to create rapport with your learner, how to communicate learning objectives, how to introduce a learning activity, how to ask the right question, and how to engage and re-engage the adult learner.
Update your IMA membership records . . .
Here at the IMA, we strive to keep our members informed. Are the right people in your company receiving the right publications? Please let us know specifically who in your company should receive the following publications:
- Executive Memo
- Human Resources Memo
- Tax Policy Memo
- Healthcare Memo
- Springfield Highlights
- The Illinois Manufacturer magazine
Send the email addresses of the people and the publication(s) they should be receiving to at jstanley@ima-net.org.
Stay informed and up-to-date!
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