Limiting Union benefits As Well

Much is being said these days about various bailout packages for the Big Three automakers, but a lot less is appearing regarding the UAW's obligations in resolving this current crisis. One news article noted recently that, "Even if lawmakers return to vote, they are likely to insist on numerous conditions on any loans. One possibility is to seek a partial ownership of the companies. Another is to limit salaries of top executives. A third is to prohibit use of the funds for any lobbying." Not a single mention about what we should expect of the unions and their members, past and present. One of the many stipulations being talked about is that the Big Three should present a detailed plan for turning around their respective companies before receiving a loan. What about a stipulation for the unions as well? Did we forget their role in all of this?

The one thing conspicuously absent in almost all of the discussions these days in is an equally stringent call for rollbacks or significant changes in union contracts. At the heart of this entire mess are the high costs of production, and the single largest cost facing Detroit are its labor costs, direct and indirect, as well as short and long-term obligations. The fancy word for the latter is "Legacy Costs." Regardless of what you call it, no company can survive indefinitely if must constantly bank more and more of its meager earnings or profits to fund future obligations.

Sure, management is clearly at fault for giving in to what in hindsight were unreasonable demands, and now it's time for Peter to pay Paul, and that means reexamining the logic and soundness of every single "Legacy" benefit promised to workers in the past 20-25 years. If we don't do that, then indeed it is quite possible that this country could collapse into something most of us dare not even mention.

P.S. So that no one misunderstands my motivation in writing the above, let me make it perfectly clear that I am not anti-union. In fact, in my early days as a newspaper reporter I actually saw the need for a union were I worked and I proceeded to work to have the very first Newspaper Guild established in Northern Virginia. Nonetheless, abuse of power can indeed be a dangerous thing and there has been an abundance of abuse within the UAW!

Buyer Offers Advice to Sellers

I just heard from my good friend who is still trying to buy a printing business. After giving it a rest for a couple of weeks, he wrote me and summarized his recent experiences. I think his views are insightful and I wanted to pass them along:

"As I evaluated our experience with trying to purchase a business, I realized that in reality, the owners of the businesses we met, forgot that their real objective was to sell the business. They get all caught up in the mechanics of confidentiality, protecting things which in the end, are just general knowledge, and frankly, create obstacles for the purchasers.... They become their worst enemy when trying to sell a business. They treat the potential purchaser as a spy, an enemy from whom they have to protect themselves. As you very well said, and I actually did when I sold two of my businesses, the first people I told, were the employees, and actually gave them a chance to become the new owners, if they would find somebody to finance them. Anyhow, I just wanted to give you this thought."

Even in the worst of times, there will always be qualified buyers interested in buying a printing business, but sellers need to adopt a new and improved attitude that treats potential buyers as allies rather than a spies or individuals wishing to do them harm!

Feel free to provide your feedback on this as well as other comments.

Purchase of Printing Firm Fails

Despite what I thought were my best efforts, my attempts to assist two clients purchase a printing firm in North Florida collapsed earlier this week. The reasons for the collapse were many, but the two key reasons were (1) the seller's apparent lack of enthusiasm in wanting to really get the deal done, plus (2) the dramatic decline in the U.S. financial markets in recent weeks.

When the owner began balking at requests by the buyers to stay on and assist them one day a week for the next six months (something I thought was very reasonable), the deal began to collapse quickly.

Lessons for sellers - If you're going to sell your business you are going to need to "SELL" your business and that means helping the buyers get all the information they need on a timely basis, and being more than willing to help the buyers succeed after the sale. It also means being enthusiastic and that is the last word you would have used to describe this last seller.

You need to be able to provide to the buyers all the financial information they need and you need to do this in a timely fashion if you hope for a sale to go through.

Politics Provides Weightlifting Impetus

I talked to a client today. He had stumbled across my blog and read the article about my weightlifting. He told he me he was amazed at how much I lifted and how much I had increased in a short period of time. "How do you do it?" he asked.

I said, "Simple. I'm a news junkie and love politics, but I get so upset everyday just reading about the candidates and all the lies they are telling, plus the incredible distortions and plain old dirty politics, that by the end of the day when I head for the gym I am so ticked off that my adrenlin has reached massive dosage levels within my body. And, it is amazing what adrenlin can do. Weights that I previously thought were way beyond my capacity (at my age and weight) are now quite easy."

By the way, weight lifting offers you a great sense of accomplishment when you can compete head-to-head with a 20 or 25-year-old without being offered or requiring any handicaps whatsoever.

I should reach 300 lbs. by Christmas

You probably think I am talking about gaining or losing bodyweight, but you would be wrong.

I am talking about setting a new personal best record for bench pressing. As some folks know, I enjoy lifting weights and I have even entered a couple of contests just to test my strength against others in my weight and age group.

Of course, when you reach age 64 and weigh-in at 198 there aren't a lot of old men who enjoy weightlifting, so to win one of these contests I typically only have to beat two or three other crazy old men!

Right now, my best bench press is 290lbs which I can handle pretty consistently. Earlier this spring, I was having difficulty with 225lbs so you can readily see the kinds of improvements that can be brought about through a regular twice-a-week training program geared at increasing strength.

My weightlifting goal is to achieve a 300lb bench press by Christmas.

I am absolutely convinced that weightlifting is a sport for just about anyone at any age, and it is good training for the heart, mind and soul. A good, yet modest weight training program can improve cardio, flexibility, prevent osteoarthritis and a myriad of other problems associated with older Americans.

Shedding light on large LED Signs

Someone asked me the other day about how I liked our LED Sign that we had installed at our business about 10 months ago. Well, to be honest, the jury is out on its effectiveness. On the one hand, we have an average of 8,500 cars per day driving past our business. The sign is colorful, attractive and almost impossible to overlook as you drive by. We heavily promote all aspects of 4C digital, from fast turn-around, to high quality and low prices. So, while I know we are getting the message out it is very, very difficult to measure how effective it is or imagine what business would be like without the new sign. So, that's it in a nutshell. The jury is still out on our $32,000 investment.

Buyers Receive Little Cooperation

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