2013 Business Journal A Section

7/29/2019 2013 Business Journal A Section

1/16

BusinessJournalOF WEST CENTRAL OHIO

THE

April 2013

The Regions Business Publication

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Elder Care 6,7

Hospitals 10,11

Manufacturing 12,13

Business Banking 14,15,16

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Cotterman & Company

to Celebrate 35th AnniversaryIn the year 2013

Cotterman & Companywill celebrate its 35thanniversary of roongexcellence.

Cotterman & Com-pany has been a pio-neer in the commercialroong industry since1978. Family-owned and operatedfor two generations, the companyinstalled and warranted more than30,000,000 square feet of roong.

In the early years, the com-pany had employed just a handfull of employees and serviced theShelby/Auglaize County region.

Currently, they have over 75employees servicing the en-tire state of Ohio as well aseastern Indiana. The majorityof their projects are locatedbetween Findlay, Dayton,and Columbus corridor.

The second generationAndy and Mike Cotterman

acquired full ownership in 2009from Max R. Cotterman, their fa-ther and founder. The company hascontinued substantial growth since

the transaction. We continue tooperate under the core principlesMax practiced. I believe this di-

A northwest Ohio company,headquartered in Delphos, recentlycompleted an expansion. K&MTire, a wholesale tire distributor, islocated in 11 states and 16 cities in-cluding Toledo, Detroit, and GrandRapids. The expansion was com-pleted in January 2013.

The companys expansion in-cluded 6,000 additional squarefeet of ofce space and 100000 ad-ditional square feet of warehousespace at its Delphos headquarters.

Ken Langhals, president ofK&M Tire, attributed the need forthis expansion to K&M Tires re-cent acquisition of Triton Tire, in-cluding six warehouses in Minneso-ta, North Dakota, Iowa, Nebraska,and Kansas.

New warehouse and ofceequipment were added to the ex-panded space. This included new

racking in the warehouse for thetires and additional desks and parti-tions in the new ofce space.

The total amount of investmentin this project is over $2.5 millionand it created around 15 new jobs,according to Langhals. Accord-ing to Bonnie Marlow, K&M Tiremarketing manager, a variety ofpositions were added. The companyhired new warehouse employeesand delivery drivers.

Additionally, we recently add-ed a bilingual inside sales represen-tative, enlarged the marketing staff,and additional ofce staff, Marlowstated. Some things we alwayslook for in a good employee includehaving a great customer service at-titude and good work ethic.

Marlow noted the created jobsadded approximately $525,000 tothe companys annual payroll. The

company currently has over 350employees across its locations with130 at the Delphos headquarters.According to Marlow, the 130 em-ployees includes warehouse work-ers, route drivers, inside sales staff,accounts receivable, accounts pay-able, human resources, IT, inven-tory, logistics, marketing, and man-agement.

The general contractor for thisexpansion project was UnverferthConstruction from Kalida. Thearchitect was Technicon DesignGroup from Ottawa.

Marlow stated that the Delphosfacility is very green. She notedthe lighting in the warehouse is setup in zones with motion detectors.

The entire facility in Delphos

uses geothermal heat, Marlowcommented.She noted that the company does

not provide any support to dealersfor tire recycling but it is planningon developing such a program inthe future. Apart from selling tires,Marlow stated the company part-ners with its customers to help cus-tomer businesses.

We recognize when our cus-tomers grow and succeed, we willcontinue to grow and succeed,

Marlow stated. Our outside salesrepresentatives dont just sell tires,they work as business consultants

Headquartered inFindlay, Ohio, OhioLogistics has seen atremendous amountof growth in the last21 years and is nowexpanding into the g2

revolution building at 14601C.R. 212. Their steady growthin the Findlay area as well asacross the United States allowsOhio Logistics to respond to theircustomers increased needs in theregion. While Ohio Logistics

maintains facilities in Ohio, Indi-

ana, Georgia, Pennsylvania, NewYork, Kentucky and Wisconsin,this new location will allow themto have a closer proximity to theirlabor resources and their grow-ing customer base in the Findlay

Logistic company expandsK&M Tire expands headquarters

TheBusinessJournal

405N.MainSt.Delphos,OH45833

PRSTDSTD

U.S.Postage

PAID

Delphos,OH

PermitNo.21

See ANNIVERSARY, page 8

See LOGISTIC, page 8

See K&M, page 8


2/16

2 TheBusinessJournal April2013

Business

Journal

THE

ofWestCentralOhioVolume22,No.4

Publisher:DonaldR.Hemple

ContributingWriters

JeffreyGitomer

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TheBusinessJournalismailedtothetopbusinessleadersinthe13-countyregionofWestCentralOhio.Althoughinformationisgatheredfromsourcesconsideredtobereliable,theaccuracyandcom-pletenessoftheinformationcannotbeguaranteed.InformationexpressedinTheBusinessJournaldoesnotconstituteasolicitationforthepurchaseorsaleofanyproducts.

Copyright,TheBusinessJournalofWestCentralOhio,2006,Allrightsreserved.Reproductionoruse,withoutwrittenpermissionofeditorial,photographicorothergraphiccontentinanymannerisprohibited.TheBusinessJournalispublishedmonthlyat405N.MainSt.,Delphos,OH45833

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April2013 TheBusinessJournal 3

Minster, Dayton & Columbus(800) 713- 3190

www.CottermanRoofng.comotterman &ompanyINC.

INDUSTRIAL & COMMERCIAL ROOFING

19

7820

13TRUST EXPERIENCE TRUST COTTERMAN

The National Association of Credit Managements eco-nomic report for February 2013 depicts a stalled economy.Political and economic concerns appear to weigh moreheavily on the manufacturing sector, while data from theservice sector shows progress.

Columbia, Maryland: February 28, 2013The Nation-al Association of Credit Managements (NACMs) Credit

Managers Index (CMI) for February is exactly the same asit was in December54.9. This is just slightly better than itwas in January when the index fell to 54.6.

For all intents and purposes, the readings suggest thatthe economy has stalled. The interesting movements arein the individual factors where there is actually some bet-ter news overall. The favorable factor index is up to justbelow where it was in November, at 59. This is a slightimprovement from January, and the gains occurred in im-portant factors. Sales jumped, taking the reading back tolast years levels.

The strength of this indicator cant be overlooked, asthis signals substantial activity despite all the concerns reg-istered over the fiscal cliff, the debt ceiling and the seques-ter said NACM Economist Chris Kuehl, PhD. However,the impact has been hard to figure out. On the one hand, it ispretty obvious that the lower GDP number from the fourthquarter was directly related to fiscal cliff concerns withinthe business community, but the latest revisions show no dipinto recession as first thought.

The data coming from the Purchasing Managers Indexshows similar variability, and other signs within the rest ofthe CMIs favorable factors point to continued confusion

and caution, Kuehl noted. The unfavorable factor indexrose from 51.9 to 52.2.

In general, there was either significant progress or stabil-ity in the factors. Of note, rejections of credit applicationsfell, but it is still higher than the majority of the readings inthe last year. The trend seems to indicate that most of thoseseeking credit are qualified and most are getting the credit

they apply for. The overall impression is of a steady state,with a slight movement in a positive direction, said Kuehl.What makes all of this interesting is that it is taking placeagainst a backdrop of political drama that many believe willcause serious economic dislocation before all is said anddone, and it seems to be the manufacturing sector that isharboring the most concern.

Decisions in manufacturing have to be made in advance,making this industrial sector generally more cautious andreluctant to make long-term plans. The negatives thatcaused the manufacturing index to decline just slightly to53.6 seem to have come from the sectors favorable fac-tors, the most serious of which was new credit applications,which slipped to the lowest since November and the secondlowest in the last year.

The overall takeaway for the manufacturing sector isthat there appears to be some pent-up demand for growth,but there are also inhibitions that seem to stem from thepolitical wrangles, said Kuehl.

In the service sector, there was some pretty good news,with the gains helping to offset the slips in the manufactur-ing data. The service sector index improved to 56.2, result-ing in the combined index looking more positive. The most

impressive gain occurred in sales given that this is not thestrong season for the retail community. The sense from theservice side is that some of the more stressed sectors aremaking a bit of a comeback, with housing at the top of thelist.

A couple of conclusions can be reached from the data,said Kuehl. It is either a testament to the fact that business

can ignore political gyrations and grow anyway, or it meansthat the economy would be growing that much faster if allthe political histrionics were not a factor.

The complete CMI report for February 2013 containsmore commentary, complete with tables and graphs. CMIarchives may also be viewed on NACMs website. Aboutthe National Association of Credit Management NACM,headquartered in Columbia, Maryland, supports more than15,000 business credit and financial professionals world-wide with premier industry services, tools and informa-tion. NACM and its network of affiliated associations arethe leading resource for credit and financial managementinformation, education, products and services designed toimprove the management of business credit and accountsreceivable.

NACMs collective voice has influenced federal legis-lative policy results concerning commercial business andtrade credit to our nations policy makers for more than 100years, and continues to play an active part in legislative is-sues pertaining to business credit and corporate bankruptcy.Its annual Credit Congress is the largest gathering of creditprofessionals in the world. Source: National Association ofCredit Management

Credit Managers Index Rebounds to Decembers Level of 54.9


4/164 TheBusinessJournal April2013

QUESTION: Why does lousy serviceoccur?

ANSWER: Lousy service happens be-cause (big) companies dont understandpeople OR training.

I am amazed at how many times some-one in a service environment delivers

lousy service. And its often not just lousy add rude, offensive, abrasive, defensive,maddening, and most of all disappointing.

GREAT NEWS: It doesnt have to belike that.

If I take the time to complain, which Irarely do anymore, the manager will al-ways ask, Did you get the name of theperson? Somehow getting the name ofthe person is important to the manager.But it is unimportant to me. I never gettheir name.

The manager is looking to blame some-one. Im looking for someone to acceptresponsibility. The manager is NEVERthe one who takes it.

I have found poor service is a reflec-tion of the company and its leaders, notjust the person who delivered it.

MY REALITY: When a manager asksme for the persons name who deliveredlousy service, I reply, Dont yell at theperson who gave me lousy service. Yell at

the person who trained them.The person delivering poor ser-vice is most likely to have beenpoorly trained or ill trained, orboth. Theyre doing what theywere trained to do, and saywhat they were trained to say.

Or the employee will mod-ify training and make state-ments based on their at themoment feelings:

Sorry about that Thats our policy Im just doing my job They dont pay me to

think Im just a peonOr worse, they become de-

fensive, even rude, when a customer ex-

presses frustration or anger as a reactionto what happened. Employees do thatbecause someone TAUGHT THEM theydont have to take gruff from a customer.(REALITY: The customer provides themoney for their paycheck).

Ever get poor service at an airline? Ofcourse you have, EVERYONE HAS. Ithappens because the people who work atthe airlines are undertrained, poorly man-aged, feel put upon by their management

and their leadership, under-paid, rarely if ever praised,and are exposed to constantcustomer complaints. Theydont like their job, theydont like or respect theirleader, they dont like their

company, and they dontlike the people they serve.Not good.

Now granted, this is ageneralization, but Im inthe air enough to make thecomment based on 20 yearsof flying experience. I getan occasional nice person.I have an occasional pleas-ant experience. But they are

so rare that I actually go up to the person

and thank them for being nice, for beinghappy, and for being friendly.So lets get back to the question at

hand. Why does lousy service exist?Who is responsible to make great ser-

vice possible?Who is responsible to make great ser-

vice happen?I always ask people in service posi-

tions, Hows it going? Most peoplerespond in some negative fashion. State-ments like, Well, tomorrow is Friday!or Ill let you know in two hours when Iget off. or Youre kidding, right?

These are losing, self-defeating state-ments. Statements made by people whofail to understand that doing their best,

having a great attitude, and having a highsense of personal pride have nothing to dowith the job. They have everything to dowith who you are as a person.

Most of the front-line servers are inlow-paying positions. When you com-bine that with our feeling of entitle-

ment workforce and with training thatsall about the company, with a smatteringof, smile, greet the customer, thank thecustomer, you have a perfect setting formediocre or lousy service to occur mostof the time.

About now, you want answers to thisdilemma. I have them. They revolvearound four words you already know:positive attitude and personal pride. Butthere is way more to these four words thanyour known definition.

Positive attitude and personal pridehold the key to your success, and they willbe discussed in-depth next week.

Jeffrey Gitomer is the author of The Sales Bible,Customer Satisfaction is Worthless Customer Loyalty isPriceless, The Little Red Book of Selling, The Little Red

Book of Sales Answers, The Little Black Book of Con-nections, The Little Gold Book of YES! Attitude, The

Little Green Book of Getting Your Way, The Little Plati-num Book of Cha-Ching, The Little Teal Book of Trust,

The Little Book of Leadership, and Social BOOM! Hiswebsite, www.gitomer.com, will lead you to more in-formation about training, seminars, and webinars - oremail him personally at [email protected].

2013 All Rights Reserved. Dont even thinkabout reproducing this document without written per-mission from Jeffrey H. Gitomer and Buy Gitomer.704/333-1112

The secret of lousy service and why it happens

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Findlays Tall Timbers Distribution Center Incorporated (FTTDC) has contracted

with an industry leading metal food and beverage container manufacturer with severallocations around the country. In an announcement today by Charles Bills, president ofFindlays Tall Timbers Distribution Center Inc., and affiliates, Bills said This facility,located at 1225 Logistics Way, Middletown Ohio will enable us to service our custom-ers in the greater Cincinnati area.

James Zuehlke is the Manager of the facility, and the telephone number is (513)-539-7001.

FTTDC is headquartered in Findlay, Ohio, and is one of the largest privately heldlogistics companies in the Midwest. It provides innovative warehousing, distribution,and transportation services.

FTTDC operates approximately 6.5 million square feet of warehouse space in 24locations in Ohio, Indiana, Pennsylvania, New York, Wisconsin, Kentucky and Georgia.

FTTDC also operates Foreign Trade Zone #151 in Findlay, Ohio and Foreign TradeZone #29 site 10 in Louisville, Kentucky. The Transportation Group operates its ownfleet of trucks, Doing Business As Ohio Logistics Transportation. The Documents Stor-age Company has a major warehouse in Findlay and delivers the most complete recordsmanagement and document destruction services in its marketing area.

For more information, visit the web site at www.Ohiologistics.com

Findlays Tall Timbers Distribution Center

Incoporated expands into Middletown


5/16

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Service above self

PERRY proTECH is pleased to an-nounce the addition of David DeToro to ourIT/Networking team as General Manager.Dave assumes the duties of Jeff Boate whohas been promoted to President of PERRYproTECH corporate office and Barry Clarkhas been named as CEO.

David DeToro is a native of Chicago, Il-linois. He is married to his wife Amy of 9years; a Pediatric Intensive Care Unit Nurseat Cincinnati Childrens Hospital. Theyhave 3 children; Katie - 7, Gianna - 5, andNicholas - 3 months. Dave grew up in the

south suburbs of Chicago in Orland Park before attending Valpara-iso University in Indiana. He studied Business Administration,focusing on Marketing, while also receiving a minor in EnglishWriting.

Being raised in a family of entrepreneurs, Dave started his firstcompany at the age of 17, while a freshman in College. After grad-uation, he worked largely in the IP/Telephony arena for 7 yearsfor both McLeod USA and MCI/WorldCom. In 2004, he shiftedfocus from telecommunications and started his second company,Divvy Inc., as a sole proprietor selling advertising and consultingservices for the automotive industry. In a short 2 year timeframe,the company went from one employee and roughly $200k in an-

nual sales to a Corporation of 17 reps and over $10M/annual sales.After the decline of General Motors and several other automo-tive companies in 2008, Dave was forced to reduce the size of thesales force with an ailing US economy before eventually closingthe company. In June of 2010, the family made a decision to headto Cincinnati so his wife could pursue a career at Cincinnati Chil-drens as well as continue her education as a Nurse Practioner byattending Wright State University.

Dave joins a PERRY proTECH, IT/Networking team in Sid-ney, Ohio he has become very familiar with for the past 2 yearswhile holding the position of Territory Manager for EMC Cor-poration for Ohio. PERRY became his go to partner in Ohio andwas quickly recognized as a Top 5 Partner for Ohio Valley. Hedeveloped a team first approach with the sales and service chan-nels in the IT Division and was very anxious to join this highlyrespected company.

When asked why he took the position as GM of IT/Networking,Not only was I comfortable with the PERRY team in Sidney, itwas a nice fit that I knew a large part of the customer base. Withthe ability to leverage his industry knowledge and sales manage-ment background with the talent of the PERRY staff, this was a

great career for Dave. The basic foundation of the company andpride that each employee owner has in their job was somethingI wanted to be part of. The market opportunity that PERRY haswith its nearly 50 years of business makes for an exciting time tohelp roadmap the company for the next level. Im committed tomaking that progression take place!

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Leading nonresidential constructionindicators generally have turned positiveand the associated increase in demandfor materials appears to be driving priceshigher. ABC Chief Economist Anir-ban Basu.

Summary

The nations construction material pric-es rose 1.3 percent in Februarymarkingthe sharpest increase in 22 months, ac-cording to the March 14 Producer PriceIndex (PPI) report by the U.S. Departmentof Labor. Overall, construction materialsprices remain 2 percent higher than oneyear ago. Nonresidential construction ma-terials prices rose 1.4 percent last month,and are up 1 percent on a year-over-yearbasis.

Softwood lumber prices increased2 percent last month and are up 27 per-

cent compared to February 2012. Pricesof concrete products rose 0.4 percent inFebruary and are up 2.3 percent from oneyear ago. Plumbing fixtures and fittingprices were up 0.3 percent last month andare 1.7 percent higher than the same timelast year. Prepared asphalt, tar roofing

and siding product prices fell 1.5 percent,though prices remained 7.2 percent higherthan a year ago.

In contrast, a number of materials pric-es recorded declines. Fabricated structuralmetal fell by 0.1 percent on a monthly ba-sis and is flat relative to a year ago. Non-

ferrous wire and cable product pricesdeclined 1 percent for the month and aredown 3.7 percent from February 2012.Steel mill prices dropped 0.9 percent lastmonth and have declined 9.7 percent ona year-over-year basis. Prices of iron andsteel products fell 1.8 percent on a month-ly basis and are down 10.8 percent com-pared to one year ago.

Crude energy materials prices rose2.2 percent in February on a seasonallyadjusted basis, which is largely attribut-able to a 6.3 percent increase in petroleum

prices.Overall, the nations wholesale or fin-

ished goods prices increased 0.7 percentin February on a seasonally adjusted ba-sis, and are up 1.8 percent from February2012.

Analysis

Increased volatility in monthly con-struction materials prices continues,said Associated Builders and ContractorsChief Economist Anirban Basu. In Janu-ary, construction materials prices rose 0.7percent, with nonresidential materialsprices rising 0.6 percent. The rise in mate-

rials prices in February was even sharperafter nearly a year of relatively stability.A number of different factors are at

work, stated Basu. Key asset pricesare generally on the rise globally; this isparticularly apparent given the behaviorof U.S. equity markets. Other prices arealso on the rise, due in part to acceleratingglobal economic growth and accommoda-tive monetary policy.

There is also evidence that nonresi-dential construction spending is posi-tioned to accelerate, particularly in pri-

vate construction categories, said Basu.Leading nonresidential constructionindicators generally have turned positiveand the associated increase in demandfor materials appears to be driving priceshigher.

However, increased volatility is not

synonymous with rising prices, Basusaid. Production of inputs typically ris-es as prices rise. This suggests that theremay be months later this year duringwhich materials prices fall. But for now,price momentum is clearly to the upside.

Construction materials prices increase 1.3 percent in February

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Elder Care

For some, holiday gatherings deliver anunwanted gift: the realization that an ag-ing relative is losing the ability to live in-dependently. When far-flung families cometogether to celebrate, adult children can bealarmed to discover that mom is forgettingmore than she used to, dad is leaving thehouse in disarray, or auntie is now tremblingand shuffling when she walks. No wonderinquiries about elder care services, includ-ing nursing homes and assisted living, peakannually just after the winter holidays.

The time has come to begin looking into

options for long-term care.Its definitely something that we see ev-ery year, said Amy Goyer, AARPs familyexpert. People start doing their homeworkright after the holidays.

Goyer encourages families to avoidjumping to the conclusion that a residentialinstitution like an assisted-living facility isnecessary. Some people have a knee-jerkreaction, she said.

But a stack of unopened mail could be

just a sign of holiday stress, she said, rath-er than a symptom of inability to care foroneself with proper support. If a loved oneis having trouble paying his bills on time,he might just need someone to handle hisfinances. If he has trouble getting in andout of the bathtub, families should considerhaving a walk-in shower built; if he isnteating right, they should consider Meals onWheels; if the house is messy, they couldhave a housekeeper visit every week.

For some aging relatives, though, it maybe time to consider an assisted-living facil-

ity or even a nursing home in the most seri-ous circumstances, such as when a relativehas a fall and suddenly needs around-the-clock care.

Inquiries made for senior care providersthrough one website, SeniorHomes.com,were on average 58 percent higher in theweeks after Christmas than in the weeksleading up to the holiday. Thats accordingto recent data released by the site, whichfeatures and advertizes long-term care pro-

viders and connects them with potentialresidents.The data, collected from 2009 to 2011,

show a spike in inquiries following Christ-mas day and continuing through January.Family members often asked managers fortours of facilities. But they didnt necessar-ily conclude assisted living or another careoption was needed immediately. In fact,says SeniorHomes.com CEO Chris Rodde,the rate of people moving into assisted-liv-ing facilities did not increase following theinquiries.

Even if mom or dad isnt ready for sucha drastic change, families shouldnt wait tomake these types of inquiries until after aloved ones mental or physical capacity hasdiminished. For adult children its impor-tant to start asking the questions and to startthe conversation with parents and siblings,Rodde said. A lot of people avoid the con-versation in the first place until things getreally bad.

Goyer emphasizes that early on its im-

portant to become familiar with local ser-vices that can help loved ones live indepen-dently in their own homes, and to help keeptrack of how an aging relative is doing evenfrom far away. Over the phone, ask: Whatdid you do today? How did you get there?Are you feeling comfortable driving? shesaid. You want to ask about their home,their transportation, health, finances andsupport system. Ask, Do you feel safe inthe house? Are you going to activities?

Dealing with a loved ones change in be-havior, though, could require just a simple

medication adjustment. Sharon Allison-Ottey, an internal medicine specialist withtraining in geriatrics, said people betweenthe ages of 65 and 70 should get full physi-cal exams every year.

If this hasnt been done, families shouldschedule an evaluation with a doctor whospecializes in geriatric care. The familyshould try to accompany their elderly rela-tive to one of the appointments, writing

Is it time to find elder care for your aging parent?

See ELDER CARE, page 9


7/16


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Senior care industry analysis

2013 - cost & trendsSenior Care Industry in 2013 at a

GlanceThanks to the aging of the baby boomer

generation born in the late 1940s and 1950s,

the American population is getting older.Between 2010 and 2050, the senior popula-tion will swell dramatically. As the boomerpopulation reaches age 65, the senior popula-tion is projected to reach 88.5 million wellover twice the number of seniors in 2000and twenty percent of the total population ofthe United States. 8,000 people will turn 65every day in 2011. This increasing elderlypopulation has and will necessitate moresenior healthcare. In fact, in the late 2000s,there were more than 17,000 providers ofhome healthcare to 7.6 million people, ser-vicing anything from temporarily illness, todisabilities, to terminal illness. This is a sub-stantial increase from the mere 1,100 provid-ers in place in 1963. The combined annualrevenue for these providers is $57.6 billion,up from 38.3 billion in 2003.

Industry BackgroundSenior care as an industry picked up steam

in the 1960s and 1970s with government ac-tivity such Medicare and the advent of theNational Institute on Aging, as well as lon-ger life expectancy, which led to more olderAmericans needing care. In 1965, Medicareprovided the elderly with federal money forhome care. In 1973, government home healthcare funding was expanded to benefit young-er people as well. And since its enactment,Medicare has been far and away the larg-est single source of revenue in home healthcare services, accounting for 37 percent ofthe total. The rest is accounted for by wayof private insurance and out of pocket costs,which made up 22 percent, nineteen percentfrom medicaid and twenty percent paid forby money from local governments. By the

end of the 2000s, a majority of home healthcare agencies were for-profit companies,reaching 57 percent of overall home healthcare agencies, and up from just six percent in

1980, when most agencies were not-for-prof-it or government-run entities. The industry asa whole employs 900,000 people. Becauseof its importance in the industry, the policiesof medicare have been closely linked to theindustrys growth over time. Certain changesin the 1980s halted expansion of the indus-try, as did changes in the 1990s under theBalanced Budget Act. But each time, the in-dustry rebounded relatively shortly after. Ad-ditionally, the industry is quite fragmented.The fifty largest companies control less than25 percent of the total revenue.

Because the majority of revenue for theindustry comes from Medicare, Medicaidand private insurance, all of which set pricesini the industry, competition between agen-cies is not on price but reputation, name rec-ognition, quality of care, word of mouth andother referrals from medical professionals.Possible difficulties business owners face inthe industry include difficulty finding qualityregistered nurses and home health aides. Asthe number of home health care businessesincreases, the demand for good employeesis high. And although the amount of work-ers tripled between 1989 and 2004, this wasstill not enough to feed demand. Registerednurses in particularl are aging, and there arenot enough younger nurses to replace them.High turnover and worker retention is an-other issue franchisees will have to addressin this industry, since it can exceed fifty per-cent, largely because of the low wages anddifficult working conditions for aides. Lastly,another obstacle could potentially be chang-es in medicare. While some companies think

See SENIOR CARE, page 9


8/16


PARTS & MAINTENANCE DIVISION

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we fix them all! Minor semi-truck repairs - brakes, air system, belts,

hoses, fluids, and more State-of-the-art fabrication & weld shop

We fabricate and weld any kind of metal and canrepair any problem your trailer is facing. Aluminum,Stainless Steel, Carbon Steel ~ not a problem!

Full line of tank & van trailer replacement parts

North Dixie Truck & Trailer, Inc. offers a broad range of fabrication andwelding services for anyone in Nor thwest and West Central Ohio.

WE NOW HAVE U-BOLT BENDING AND AXLE BORING CAPABILITIES.CURRENTLY TAKING APPLICATIONS FOR ADDITIONAL INSIDE &

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DEF Repairs and Distributor for Total Control Systems Parker Brand Hose & fittings & Weather-Head Brand

Hose & fittings Storage Trailers for Rent

and help our customers with marketing, ad-vertising, and business planning.

K&M Tires customer base includes manynorthwest Ohio companies such as SpeckTire in Bowling Green; Tri County Tire inOregon; JAM Tire of Toledo; and SylvaniaTire & Wheel.

The company began as a two-bay gas sta-tion in 1970 selling gas at a price of $0.30

a gallon. Now K&M Tire distributes morethan 20 brands of passenger and light trucktires, seven brands of commercial truck tires,and eight brands of farm and utility tires, ac-cording to the company. Some of the brandsinclude Cooper Tires, Dunlop, Firestone,GoodYear, and Michelin.

We only sell tires, from small lawn mow-er tires to large farm tires, Langhals stated.

K&M (Continued from page 1A)

Anniversary(Continued from page 1A)Logistics (Continued from page 1A)area.

This is a tremendous opportunity forOhio Logistics to utilize an existing highbay warehouse in a dynamic market, statedTim Echemann of Industrial Property Bro-kers who represented both parties in the

lease transaction. This is a good match forthe owner of the building, John Graham, aswell as Ohio Logistics, he said. Grahamsforesight in purchasing the building has al-lowed him to watch his investment come tolight. With Ohio Logistics move into 61,512SF of the facility, and the recent Tour deForce CRM, Inc leasing of 12,500 SF of of-ce space, the building is now fully leased

and they are looking for build to suite op-portunities as well as possibly adding on tothe building.

Ohio Logistics is a provider of ware-housing and transportation along with dis-tribution, inventory management and manu-

facturing support to their customers whorequire global logistics. This building pro-vides us with a modern, clean facility that ismost similar to our other locations, statedRick Aurand, Human Resource Managerwith Ohio Logistics. Aurand said they planon utilizing the facility shortly after takingpossession in mid- March and plan on hiringapproximately three employees.

rectly impacts our quality level of installa-tions, which has lead to our success in theroong industry. In addition to that, the hardwork and dedication of the individual teammembers culminates, creating a winningrecipe, says Mike Cotterman.

In 2012 Cotterman & Company receivedthe most prestigious recognition in the com-mercial roong industry. Carlisle Syntec, theleading manufacturer of single-ply roongmaterials, elected Cotterman to the Perfec-tion Council. Only the top 15 contractorsin North America, determined by historicalinstallation quality metrics, were given thisrecognition. Cotterman also reached the 750Perfect 10 Hall of Fame Status with Carlisle.Out of 2,700 authorized applicators, only 43have reached this achievement.

Duro-Last Roong recognized Cotter-mans achievements with the JRB Award,which is based on volume and quality of in-stallations. They also announced Cottermaninstalled the most Duro-Last Roong mate-rial in the state of Ohio again in 2012.

Looking forward into this year, we be-lieve the trend of renovating and retrottingexisting buildings will continue to grow andthe new construction projects will remainrelatively moderate similar to 2012. Thisenables us to offer cost effective energy sav-ings roong solutions for businesses lookingto remain in their current facilities, saysAndy Cotterman

Cotterman & Company is eager to earnthe opportunity on your next roong projectand add you to the list of satised customers.

419-224-6980visit us at www.tjpaintingandrepair.com

Full ServicePainting Contractor

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Elder care(Continued from page 6A)

Senior care(Continued from page 6A)the new Patient Protection and AffordableHealth Care Act of 2010 will ultimately helpthe home health care industry, there couldbe unforeseen consequences as the act is putinto place.

Home Health Care

Home health care is the primary aspect ofthe senior care industry in which franchisesexist. This can involve either medical careor non-medical care, or some combination.Medical care provides a variety of medicalservices for patients, with some of the most

common being private nursing, administer-ing antibiotics and assisting in rehabilitation.Heart disease, diabetes and cerebral vasculardisease are the most common ailments result-ing in home care, and about seventy percentof in home patients are 65 or older. InterimHealthcare is a franchise working in the med-ical sphere. Non-medical assistance includesaides helping seniors with chores, preparingmeals, taking medication, helping with bath-ing and general companionship. As seniorsage, non-medical care is often a step betweenself-sufficiency and family care and more se-rious medical care. FirstLight HomeCare andCareminders are two franchises that focus onnon-medical home senior care. One advan-tage of being part of a large franchise in thisindustry is access to increased marketing thatmight not be available to a smaller business,which is particularly important in senior carewhere name recognition counts.

Although it is currently far more commonfor a family member to take care of a senior,rather than a nursing home or home healthcare, as the population ages dramatically itwill be far more difficult and the burden willbe more onerous on younger family mem-bers. This will lead to an increased need forboth nursing homes and home health care.In 1990, there were 11 possible caregivers

for every family member needing care. Butby 2050 it is projected this ratio will reachfour to one. In 2006, 23 percent of Americansprovided care for someone over fifty, andit is predicted that nine million seniors willrequire long-term care in the foreseeable fu-ture. This along with the relatively high costof nursing homes and hospitals has led to aboon in the home health care industry.

Home health care can be less stressful andmore convenient for seniors, as well as moreaffordable. In addition, in a survey, 89 per-cent of seniors expressed a desire to remainin their homes as long as physically possible,which would provide more future homehealth care business. In addition, medicaladvances will make more and more patientswho would have otherwise had to stay in ahospital or nursing home able to stay at homein a familiar setting. By 2050, it is projectedthat home health care services will impact 27million people. In the fourth quarter of 2010,home health care revenues had risen 4.1 per-cent over those in the same quarter the yearbefore, and it is predicted to grow by an an-nual compounded rate of seven percent be-tween 2010 and 2015.

With a rapidly growing senior population,there is no better time to be a part of the bur-geoning senior care industry.

down their concerns ahead of time. The doc-tor should cross-check medications to makesure they are not liable to interfere witheach other. You may think your mom hasdementia, Allison-Ottey said, but maybemedications are crossing each other and she

just isnt sleeping well.Families may want to consider a geri-

atric assessment, which is a head-to-toe,two-hour exam performed by a geriatrician.Doctors will evaluate the heart, lungs, ears,eyes, memory, and ability to walk, amongother things.

Most of all, Allison-Ottey said, the agingparent needs to be part of the decision-mak-ing process. The elderly still want to have asense of independence, she said. It is stilltheir lives. Its important for adult childrento ask their parents what they want par-

ticularly in terms of whether they will wantto stay in their own home, whether theywant help around the house, or whether theywill want to live in a nursing home whenconditions require it while they are stillable to give insight. When adult children arenot sure what their parents want, they tendto make a lot of decisions for them later on,

which can result in a significant amount ofguilt.It is very difficult to see your parent or

your loved one who was strong, vibrant, andhealthy to all the sudden be weak, ill, or de-pendent, Allison-Ottey said. I do suggestthat families get support. Understand thatyou are not superman or superwoman. Un-derstand the limitations for your family financial limitations, social limitations, andthe amount of time you can devote to care.


10/16


Hospitals

More Locations in Your Community

For a full listing of services,

visit www.mercer-health.com

Mercer County Community Hospital

800 W. Main St., Coldwater419-678-2341

Community Medical Center/Doctors Urgent Care

950 S. Main St., Celina419-586-1611

Home Care and Medical Equipment/

Rehabilitation Services

1107 N. Main St., Celina419-584-0143

Mercer Health Family CareCelina

801 Pro Dr., Celina

419-586-3113Mercer Medical Group

909 E. Wayne St., Celina419-586-1863

Mercer Health Family CareColdwater

809 W. Main St., Coldwater419-678-2381

OB/GYN Satellite OfficeFt. Recovery

1830 Union City Rd., Ft. Recovery419-375-2939

OB/GYN Satellite OfficeSt. Henry

442 Stachler Rd., St. Henry419-678-2246

Dedicated to Excellence since 1920

CONSTRUCTION CO.

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Ferguson Construction is an award-winning general cntractor witha STAR VPP rating for safety. We have the experience and thepersonnel to help you build your construction project right the first

time. If you need help with your existing building or planning newconstruction, give us a call.

Sidney: 937-490-2381Dayton: 937-274-1173

Columbus: 614-876-8496Indiana: 812-546-0333

www.ferguson-construction.com

Both sides of the Grand Lake in West

Central Ohio now have hospitals wired toelectronically transmit health records andinformation throughout the region andstate.

Mercer County Community Hospitalin Coldwater and Grand Lake Health Sys-tems Joint Township District MemorialHospital in St. Marys now are live onthe statewide health information exchange CliniSync.

They join other members of the WestCentral Health Information Exchange in

committing to the regional and statewidesharing of electronic health records toimprove patient care, including St. RitasMedical Center in Lima and Van WertCounty Hospital in Van Wert. Lima Me-morial Hospital also joined and is in theimplementation stages.

Physicians in the area are directly re-ceiving lab reports, test results and medi-cal documents from the hospitals to theiroffices, making the sharing of informa-

tion quicker and easier than traditional

paper records. This is the first step in agrowing process that will allow hospitals,physicians, labs and others involved in apatients care to exchange patient healthinformation, no matter where they are lo-cated.

QUOTE: George C. Boyles, Vice Presi-dent of Finance and Chief Financial Offi-cer. Through the participation in the state-wide HIE program, medical care providerswill be able to access specific patient in-formation to allow for enhanced and effi-

cient patient treatment care.We, at Mercer Health, are excitedabout continuing to utilize technology tohelp assist with patient care. Securing in-novative computer solutions, and workingwith physicians, other medical profes-sionals, and nursing staff to care for thepatient is essential to continued qualitypatient care.

Mercer County Community Hospital isa part of the Mercer Health organization

serving Mercer County and the surround-

ing areas. Mercer Health provides a con-tinuum of healthcare services to the areathrough prevention, education, diagnostic,inpatient, home care, medical equipment,physician and other services. Additionalinformation about Mercer Health and itsservices and eight locations throughoutMercer County can be found at www.mer-cer-health.com.

Being part of a statewide health infor-mation exchange (HIE) is the next step inproviding quality care for our patients,

said Lori Miller, Chief Information Officerof the Grand Lake Health System. HIEfacilitates continuity of care by support-ing the efforts of physicians with timelyand efficient access to medical informa-tion from several facilities. HIE is a greattool to assist providers so their time can bespent focusing on the care of the patient.

Joint Township District MemorialHospital is the anchor of the Grand LakeHealth System and is a full-service, com-

prehensive care hospital serving Auglaize,

Mercer and surrounding counties.The Grand Lake Health System is com-

prised of Joint Township District Memo-rial Hospital, Grand Lake Home Health,Grand Lake Hospice and numerous physi-cian practices and Centers of Excellence.Additional information can be found atgrandlakehealth.org.

To date, 70 hospitals across Ohio havecontracted for CliniSyncs services and 21are live. More than 1,000 physicians alsosigned up to receive exchange services,

with close to 500 already getting resultsand reports from their local hospitals.Eventually, CliniSync participants will beable to share information statewide so doc-tors will have a complete picture of a pa-tients health from other providers. Whilesome health systems in Ohio share dataand information within their own facili-ties, CliniSync allows the sharing of infor-mation from providers outside their own

Mercer County and Grand Lake Joint Township hospitals join HIE

West Central Ohio wired through CliniSync

See JOIN HIE, page 11


11/16


National Health Care

Decisions Day is April 16

National Health Care Deci-sions Day will be celebratedacross the country on April 16 toinspire, educate & empower pro-

viders and the public about theimportance of advance care plan-ning. National Health Care Deci-sions Day is an initiative to en-courage patients to express theirwishes regarding health care andfor providers and facilities torespect those wishes, whateverthey may be.

Advance directives are docu-ments that patients complete todirect their medical care when

they are unable to communicatetheir own wishes due to a medicalcondition. In Ohio, do not resus-citate orders, living wills, organ

donation and durable powers ofattorney are advance directivesthat are authorized by state law.

Many Ohio organizations, in-

cluding hospitals, will recognizeNational Health Care Decisionday with educational seminarsand informational sessions toensure adults decision-makingpower over their own lives. Hos-pitals can lead by example byencouraging everyone in theirfacility to execute their own ad-vance directives before April 16,so they will be in the best posi-tion to help others. This is a great

opportunity to spread the wordand highlight existing resourceson advance directives.

stritas.orgLeading you to better health.

Emergency Department

Welcome to a whole new St. Ritas Emergency Department.

William Tucker, MD, FACEP

REYour emergency department.REIMAGINED.

We added large-screen monitors in each of our 46 treatment rooms todisplay imaging and test results quickly and clearly. We incorporated

advanced medication administration technology to maximize patient safety.

We developed new protocols to ensure a faster emergency-to-admission

transition when you or your loved ones require inpatient care.

We are the state of the art in emergency care, reimagined. And were here

when you need it.

health system.Dan Paoletti, CEO of the Ohio

Health Information Partnership,which manages CliniSync, saidWest Central Ohio leads in theway in community-based collabo-ration. The region jump startedCliniSync when St. Ritas wentlive in December 2010.

When we first started to im-plement CliniSync, West Central

Ohio stepped right up to begin tofulfill a vision of interoperabilityand exchange that they had al-ready envisioned, Paoletti said.These hospitals have workedhand-in-hand with our staff to gothrough a new technological pro-cess that will result in more timelyand coordinated care for patientsin their communities. Our thanksto Mercer County and Grand Lakefor making that vision a reality forthe entire region.

A federal grant of $14.8 mil-lion from the Office of the Na-tional Coordinator for HIT to theOhio Health Information Partner-ship enabled the creation of theCliniSync technological structure

and initial implementation. In ad-dition, more than 6,500 Ohio pri-mary care physicians signed upto use electronic health recordsthrough similar grant fundinglast year. The movement towardexchanging health records is oc-curring in states throughout thenation.

In Ohio, physicians can re-ceive free software that allows

them to send direct, encryptedemails, to manage referrals, andto receive both transcribed reportsand test results. Information beingexchanged includes: registrationinformation (admission notice,discharge notice, transfer notice),transcriptions (clinical and tex-tual, discharge summaries, car-diology reports), and lab results(general chemistry, microbiology,pathology and blood bank.)

For more information about

the CliniSync HIE, go to Clini-Sync FAQs.

For success stories on videoabout electronic health recordsand CliniSync, go to our Resourc-es section.

Join HIE(Continued from page 10)


12/16


800.589.2357 OH Lic. #21016www.sidneyelectric.com

Sidney Office

840 S. Vandemark Rd.

Sidney, Ohio 45365937.498.2357

Muncie Office

3100 E. County Road 350N

Muncie, Indiana 47303765.284.1594

Lima Office

2250 Central Point Parkway

Lima, Ohio 45804419.222.1109

60

Years1953 - 2013

Connecting With Customers

Manufacturing

Manufacturing activity

gains steam in MarchU.S. manufacturing growth quick-ened in March and the pace of hiring in-creased, suggesting the sector will con-tribute to stronger overall U.S. growthin the first quarter, an industry surveyshowed on Thursday.

Financial data firm Markit said itsflash, or preliminary U.S. Manufac-turing Purchasing Managers Index in-creased to 54.9 this month from 54.3 inFebruary.

A reading above 50 indicates expan-sion.

Manufacturers stepped up hiring thismonth, driving the employment sub-in-dex to 54.6 from 53.5 and rounding outthe best three-month stretch for hiring inthe sector since early last

year, according to Markit chief econ-omist Chris Williamson.

With manufacturing a reliable bell-wether of the rest of the economy, grossdomestic product will have risen at amuch improved rate over the first threemonths of 2013, he said.

The U.S. economy grew at a 0.1%rate in the fourth quarter of 2012, buteconomists are forecasting a first-quar-ter growth rate of about 2%.

The manufacturing output indexeased to 56.8 in March from 57.3 theprior month, but the pace of incomingorders from domestic customers in-creased, while overseas demand grewslightly after contracting in February.

The flash reading is based on re-plies from about 85% of the U.S. manu-facturers surveyed. Markits final read-ing will be released on the first businessday of the following month.

234 S. Jefferson St.Delphos, Ohio

Dedicated to improving the agribusiness and foodproduction chain since 1818.

Leader in North America for consistent, high-quality oilseedprocessing products and service.

Ph. 419-692-6010www.bunge.com

Bunge Limited, founded in 1818, is aleading agribusiness and food company withintegrated operations that circle the globe.Bunge employs over 32,000 employeesat over 400 facilities in over 30 countries.Bunges agribusiness operations process and

transport tens of millions of tons of commod-ities every year.The facility at 234 South Jefferson street

is a soybean processing plant originally builtin 1909. The business purchases soybeanswhich are processed to make soybean oil andmeal. The oil is sent to the companys otherlocations for further processing into variousfood products. The meal is sold to customersboth locally and globally. The Delphos fa-cility has been making soybean oil and mealsince the 1940s.

The Delphos facility employs 53 people.

Office hours are 8am to 4:30 p.m., with grainreceiving hours of 7 a.m. to 7 p.m.. TonyMatney is the Facility Manager.

For more information about the company,visit the companys website at :

www.bunge.com

Bunge


13/16


MillerPrecision

Industries, Inc.131 Progressive Dr. P.O. Box 489

Ottoville, Ohio 45876

CNC Precision MachiningSmall & Large Production Runs

Fixtures Special Machinery & ToolingSecondary Machine Operations

Phone 419-453-3251 FAX 419-453-3030www.millerprecision.com

As more U.S. manufacturers embrace theprinciples of lean enterprise, there is a grow-ing acceptance of the role that automationcan have in the industry.

According to Wired, research conductedby the Massachusetts Institute of Technol-ogy has shown that while heavy-duty robotsare usually confined to a separate part of the

manufacturing facility, increased interactionbetween human and mechanical workers canincrease productivity. With 225,000 robotsnow in active service in the U.S., the study,

which concentrated on a practice known ascross-training,placed robots in a workplaceenvironment and allowed workers to carryout simple tasks in tandem with the machine.

This technique has been used for manyyears in the military, with team membersencouraged to engage in reward motivatorscenarios with their teammates, thereby in-creasing levels of unspoken communicationand coordination. While the battlefield andthe assembly line may have different expec-tations of teamwork, the MIT research tookthe concept and used it to demonstrate how

human to robot interaction could be used insimple tasks.The task involved the human worker plac-

ing screws in one of three positions, with therobot then instructed to drill them into place.With the workers told to swap and changethe position of the screws, the research teamconcluded that the robot would need to adjustquickly to a variety of challenges, especiallyas there were occasions when more than one

screw was used.Thirty-six human volunteers were in-

volved in the study, which was originallyconducted in a virtual reality scenario. Fifty

percent of them merely encouraged the ro-bot with positive comments, while the oth-ers swapped roles with the machine halfwaythrough. The test was then taken into a real-world environment and repeated, with anemphasis on quality management in manu-facturing..

The results showed that robot-humansychronicity was 71 percent higher in thosethat had swapped roles while idle time theamount of time spent waiting for a co-worker

to complete a task dropped by 41 percent.The study also showed that the robot wasable to anticipate what its human partnerwould do in other words the machine was

able to predict what it should be doing andwhen.People arent robots, they dont do things

the same way every single time, said JulieShah, lead researcher and an assistant profes-sor of aeronautics and astronautics at MIT.And so there is a mismatch between theway we program robots to perform tasks inexactly the same way each time and what weneed them to do if they are going to work inconcert with people.

60

(An ISO 9001:2008 Certifed Company)

Human-robot interaction can be improvedwith teamwork, study finds

B i B ki g


14/16


Business Banking

Full Payroll Service: Direct Depositing Check Printing Tax Depositing

Quarterly Payroll Reports Year End Reconciliation W2s & 1099s

Eric M. Macwhinney, President

207 N. Main St. Delphos419-227-9040 419-695-9040

www.psi-payroll.com

Retail banks, in the coming year, willfocus on managing the multi-channelimpact of mobile banking, downsizingbranches and selective investing in branchtechnology.

The tectonic plates underlying retailbanking are shifting. In 2012 we havealready seen various versions of theBranch of the Future, the increasing so-phistication demanded by mobile and tab-let customers, experimentation with newrevenue streams, refocusing efforts on

higher-profit customer segments such asthe mass affluent and banking platformson Facebook. All these trends are funda-mentally changing the role of the bankand transforming retail delivery.

Over the next year, we will see dramat-ic changes in both how customers interactwith banks and how this impacts revenuestreams in retail banking. Here are thefive top trends retail banking executives

should keep their eye on in 2013:Multi-Channel Impact of Mobile/On-

line. It is clear that mobile and onlinebanking is continuing to grow. But whatdoes that mean for the customers rela-tionship with the bank across differentchannels? Most banks do not yet knowhow usage of mobile and online servicesimpacts retention, cross sell and overallcustomer value. We have seen that the im-pact on these metrics varies significantlyacross services and features and it is im-

portant for banks to know which to focuson. Branch staffing levels and operatinghours also need to evolve with increasednon-branch banking. Online and mobilecan help reduce cost in the physical chan-nel but banks need to be careful not tohurt the customer experience.

Making Money from Mobile. Mostbanks are not yet charging for mobile oronline banking services but this is start-

ing to change. BB&T and U.S. Bank nowboth charge 50 cents per check for mobilecheck deposit. Charging fees for mobileand online service could be an importantsource of fee revenue for banks. The riskis that it could cause significant backlashand customer attrition. It will be easier forbanks to charge fees for entirely new ser-vices than to add fees to services custom-ers are used to receiving for free. Bankswill also need to test different fee levelsto determine which work best. Finally,

it is critical to identify which customersshould be exempt from these fees to avoidlosing the most valuable customers.

Smaller Branches with Innovative Ap-proaches to Staffing. Though brancheswill not go away completely, they willlikely get smaller. Customers will con-tinue to visit the branch to open accountsor discuss more complex products such asinvestments or mortgages. An extensivebranch network provides the conveniencemany customers demand. However, manyroutine transactions are moving to other

channels and branch cost is higher than itneeds to be.

Branches will get smaller in the futurewith more in-store branches or caf stylebranches. The key will be to know whereto put these smaller branches and whichlocations warrant a full-scale branch. TheEconomist recently dedicated a special re-port to the intricacies of this new shift andits adoption on a worldwide scale. Bankswill need to understand how demograph-ics, the competitive environment, and the

adoption of mobile/online banking in dif-

ferent geographies influence the optimalnumber of branches and the optimal mixof branch types.

Similarly as customers continue mov-ing more routine transactions to the on-line and mobile channels, the role of thebranch staff will be even more focusedon building relationships, growing salesand helping customers resolve more dif-ficult problems. It does not make sense inthis model to have branch staff focus ex-clusively on particular tasks, such as the

traditional teller role. Branch staff will, ifanything, shrink over time, so banks willneed to do more with less. This will re-quire hiring people who have a broadervariety of skills and offering more train-ing to help existing staff learn new skills.Banks should also work to develop newtechnology platforms to help branch staffhave these broader and more complex dis-cussions with customers. Bank of Ameri-ca has been one of the leaders in this area,with a new flagship concept that featuresadvisers walking around the branch and

having conversations with clients in moreopen spaces rather than in the traditionallayout.

Demanding ROI from Online/SocialMedia. Ad dollars will continue to shift toonline and social media, and these chan-nels will continue to grow in importancefor banks. For instance, Chase and Bankof America now offer support servicesthrough Twitter, and other banks increas-ingly leverage Facebook as an engage-ment tool. At the same time, companies

Top five retail banking trends for 2013

See TRENDS, page 15

E i t F d i k


15/16


The Fort Jennings State Bankthe Bank of choice www.fjsb.com

Ottoville 419-453-2527

Columbus Grove 419-659-2527

Ft. Jennings 419-286-2527 Ottawa 419-523-3013

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Economists warn Fed riskslosing control

will look to better understand the returnon investment (ROI) of these investmentsand will choose carefully how they investgoing forward. With many online and so-

cial media vehicles such as Google andFacebook, advertisements can be turnedon in a subset of markets allowing a com-parison to control markets that do notreceive the ads. We have found that theROI varies significantly across differentvehicles, products featured, and messagesor keywords. Banks that know the ROIof different investments will be able tosignificantly improve the profitability ofsocial and online advertising by focusingspend where it is most effective.

Selective Investments in Branch Tech-nology. Banks have made substantial in-vestments in branch technology, such asadding remote check imaging at ATMs.These types of investments will continue,and the latest example is video ATMs.BBVA recently began launching its ABILconcept that features a touch-friendlyinterface and a virtual teller. Too often

though, we find that banks make uni-form investments across all branches.This is a waste of precious resources;most new technologies will work well in

some branches but provide little benefitin others. Any major investment shouldbe tested in a subset of branches first, todetermine what types of branches wouldactually benefit.

As these trends drive transformationsin retail banking it becomes increasinglynecessary to innovate while minimizingthe risk involved in innovation. We haveseen leaders such as TD, PNC, SunTrust,and others respond to these emergingtrends by rapidly testing new ideas with

a small set of customers, branches or em-ployees. Such scientific tests have helpedthem respond to these changes effectivelyand build a competitive advantage in of-fering cutting-edge products and services.Banks that are able to rapidly and robustlypredict what customers want will have asuccessful 2013.

Trends (Continued from page 14)

Superior Federal CreditUnion promotes Swinehart

Superior Federal Credit Union is pleasedto announce the promotion of Doug Swine-hart as their new Director of Mortgage LoanOperations. Doug has more than 35 yearsof experience in banking, mortgage lend-ing, and mortgage underwriting. In his newposition, he will be managing all mortgageprocessing and underwriting operations forSuperior and its partner credit unions. Douggraduated from Ohio Northern Universitywith a BA in History. He is married and

lives in Lima with his wife, Krista.Superior Federal Credit Union is a full

service nancial cooperative serving mem-bers in West Central Ohio. Superior FCUcurrently serves over 49,000 members withassets exceeding $425 million. The creditunion also provides consumer and mortgageloans, checking and savings accounts, in-surance and brokerage services, and smallbusiness services and loans.

Four economists, including a former FederalReserve governor who has co-written researchwith Chairman Ben S. Bernanke, warned thatlosses from the central banks more than $3

trillion balance sheet could lead to the Fed los-ing control of monetary policy.The combination of a massively expanded

central bank balance sheet and an unsustain-able public debt trajectory is a mix that has thepotential to substantially reduce the flexibil-ity of monetary policy, the economists write.This mix could induce a bias toward slowerexit or easier policy, and be seen as the firststep toward fiscal dominance. It could therebybe the cause of longer-term inflation expecta-tions and raise the risk of inflation overall.

The conclusion from economists, includ-ing Frederic Mishkin, a governor at the cen-

tral bank from 2006 to 2008 and an academiccollaborator with Bernanke before that, will bepresented at the U.S. Monetary Policy Forumin New York. Their paper serves as a high-pro-file warning to an audience including BostonFed President Eric Rosengren, Fed GovernorJerome Powell and St. Louis Fed PresidentJames Bullard.

The central bank is currently purchasing$85 billion a month of Treasuries and mort-gage-backed securities, following two previ-ous rounds totaling $2.3 trillion, in an effortto lower an unemployment rate stuck near 7.9percent. Once the economy strengthens, thecentral bank plans to unwind its balance sheetby raising interest rates and selling many of theassets acquired over the past four years.

The economists say that the Fed could in-cur substantial losses that might occur whenU.S. deficits are still high and Congress andthe White House have been unable to put fiscalpolicy on a sustainable trajectory.

This unfavorable fiscal arithmetic mighttend to push the Fed toward delaying its exitfrom the extraordinary easing measures ithas taken in recent years; it could even affectdecisions this year about how much further

to expand the Feds holdings of longer-termgovernment securities, the authors said. TheFed could cut its effective drain on the Trea-

sury significantly by putting off asset sales anddelaying policy rate increases. But such a re-sponse would presumably feed rising inflationexpectations.

The U.S. Monetary Policy Forum is spon-sored by the Initiative on Global Markets at theUniversity of Chicago Booth School of Busi-ness.

In addition to Mishkin, now an economist atColumbia University, the authors of the paperare David Greenlaw, chief U.S. fixed incomeeconomist for Morgan Stanley; James D. Ham-ilton, a professor of economics at the Universityof California in San Diego; Peter Hooper, chiefeconomist at Deutsche Bank Securities Inc.

Hooper and Greenlaw are both former Fedeconomists, while Hamiltons research onbond yields has been cited by Bernanke as jus-

tification for the Feds policies.The Federal Reserve recently released a pa-

per showing that the income it has traditionallyearned from its policies could disappear foryears as interest rates rise. After paying its ex-penses, the central bank returns any surplus toTreasury to help fund the expenses of the U.S.government. In 2012, the Fed returned $88.9billion to taxpayers.

The Congressional Budget Office forecaststhat the government will run deficits averagingnearly $700 billion from 2014 to 2023 in itsbaseline scenario.

The bottom line is that no matter howstrong the commitment of a central bank toan inflation target, fiscal dominance can over-ride it, the authors of todays paper warned.Without long-run fiscal sustainability, no cen-tral bank will be able to keep inflation low andstable.

Fiscal dominance refers to a situation inwhich a central bank is forced to purchasegovernment debt and finance deficits throughinflation. If the central bank does not do this,interest rates will rise and the economy willcontract and the government could even de-fault, leading to a crisis that would cause an

even worse contraction, the authors say. Thecentral bank will in effect have little choice,they write.


16/16


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