Category: Business - Original Written by Amber Bogins
The Michigan Business and Professional Association (MBPA) said today that it is very encouraged to see the Obama Administration and HHS delay implementation of the Affordable Care Act employer mandate for companies with 50 or more employees from 2014 to 2015.
Jennifer Kluge, CEO of MBPA, states, "this decision comes just in time as our members who fall under the ACA employer penalties have been scrambling to make some tough business decisions that will significantly affect the livelihood of both employers and employees; this extra time to strategize is greatly needed."
Kluge explained that the reporting called for under the new law about each worker's access to and enrollment in health insurance often requires new data collection systems and more complicated operations coordination. The administration's announcement this week provides an opportunity to re- assess the detailed reporting and pave the way for a more streamlined approach while the reporting requirements and penalty payments are suspended for 2014. This move allows employers more time to make any necessary modifications to their health benefits while still moving ahead to comply with the provisions of the Affordable Care Act.
She pointed out that MBPA has been working diligently to educate its members by offering various types of seminars, webinars, and conferences, solely dedicated to federal healthcare reform since the law's passage.
"We saw the tremendous need for education on the new health care law, and the need to continually update members as new information comes out weekly that affects the business community," commented Bonnie Bochniak, MBPA Vice-President, Government Relations.
Bochniak also stressed that this recent announcement does not affect small businesses with less than 50 workers as they are not required to offer healthcare to their employees. These small businesses do however have the option to use the Small Business Health Options Program and marketplace exchanges that are scheduled to be operational by October 1 of this year for enrollment. Regardless of the business mandate delay, the Affordable Care Act still goes into effect for everyone on January 1, 2014.
Last Updated on Wednesday, 03 July 2013 16:34
Category: Business - Original Written by Leon LaBrecque
At the June 19 Fed meeting, Chairman Bernanke indicated that a strengthening economy would cause the Fed to 'taper' its bond buying activity commonly known as QE3 (Quantitative Easing 3, no one really remembers QE1 and QE2 because they really didn't work.) The Fed Chairman then proceeded to repeat a statement almost verbatim that he had said in several previous press conferences. As the economy got better, the Fed would not need to keep pumping money into the system," says Leon LaBrecque, JD, CPA, CFP, CFA, and the Chief Strategist and founder of LJPR. "I likened it to the doctor saying, 'As your hip gets stronger, we can wean you off of the pain medication'."
"The last thing the market wanted was to be weaned off of pain medication, despite the fact that the doctor did not actually do any weaning, but merely inferred that said weaning might take place. The stock market plunged, the long term bonds plunged (we have almost no long term bonds, thank goodness), gold plunged. Our take? Complete overreaction," says LaBrecque. "But weird overreaction, not unlike the strange under reaction of the first five months: all bad news – sequester, terrorist attack, North Korea, Cyprus and the market soars. Good (or maybe even just neutral) news, as the economy gets better, the Fed will quit injecting dollars to prop it up and the market tanks."
"What is the reality? All the world's central banks are pumping money at high pressure and volume to get their respective economies moving. That's China, The ECB, the Bank of Japan and the Fed. The dollar numbers are mind boggling: the balance sheets of the Central banks have gone from $10.4 Trillion in 2007 to $20.5 trillion today," says LaBrecque. "By my calculations, the balance sheets of the Central Banks are equal to 30% of the world's GDP! So, the question is: if the treatment is working, don't we want it to eventually stop? In other words, if the easing stimulates the economy, then don't we logically want to get off of the QE drip?"
"Irrational market behavior is nothing new. Our approach is to maintain a cautious allocation and keep our mix properly balanced. We hope the Chairman is right in his view that the economy is continuing to improve. The Sequester has done wonders to the deficit: It's gone from well over $1 trillion to around $642 billion. The deficit was 10% of GDP in 2009, and is now rapidly approaching 2%," says LaBrecque. "For now, we see continuing slow growth and hopefully a tapering of Fed policy. And, it seems, we need some bad news to stimulate the market...or do we need good news?"
Last Updated on Wednesday, 03 July 2013 11:19
Category: Business - Original Written by Trina Naylor
Conrad Mallett Jr.
Marvin W. Beatty
Nancy Schlicting (left), William f. Pickard, Ph.D., Carol Cain, Tom Canedo,
Cindy Pasky and Bud Denker.
Nancy Schlicting (left), William F. Pickard, Ph.D., Carol Cain, Cincy Pasky and
Nancy Schlicting (left), William F. Pickard, Cindy Pasky, Sharima Bulchak, Bud
Denker, Robert Ballone and Yvette Anderson.
Nancy Schlicting (left), William F. Pickard, Kelli Bischoff, Tomika Smith, Cindy
Pasky, Bud Denker and Bill Sichender.
Last Updated on Monday, 01 July 2013 15:37
Category: Business - Original Written by Amber Bogins
As part of its unique facilitated networking model, the Michigan Business and Professional Association (MBPA) is hosting "Sizing up Your Business," a Network and Learn Business Breakfast. Curt Petterson, president and owner, Absolute Engineering & Consulting, LLC and founder of Business Improvement Team, LLC will be the featured speaker.
This is a free event for MBPA members. Guests of members may also register for free and members are encouraged to bring one or two clients. The event will take place Wednesday, July 31, 2013 from 8 a.m. until 10 a.m. at Davenport University, 19499 Victor Parkway in Livonia.
The Network and Learn @ Business Breakfast Connections start promptly and feature a continental breakfast, a premier speaker and Facilitated Speed Networking. This session also provides an opportunity for professionals from across the area to exchange contact information, discuss current industry information and generate sales leads.
For more information or to register, call 586-393-8800 or visit www.michbusiness.org.
Last Updated on Monday, 01 July 2013 12:30
Category: Business - Original Written by Michigan Chronicle Staff
The North American International Auto Show (NAIAS) today announced that it has received a $25,000 donation from Michelin North America in honor of the 25-year partnership between both
The check presentation was made today at the NAIAS "Covering All Bases" event, an off-season, day-long planning meeting attended by more than 300 representatives of auto manufacturers, sponsors, and partners who participate in the NAIAS. NAIAS 2014 Chairman Bob Shuman said Michelin has been an important part of the auto show since the beginning.
"Michelin has been with the show as a sponsor, supporter, and friend since the former Detroit Auto Show became the North American International Auto Show in 1989," said Shuman. "Consistently, in every one of those years, Michelin has committed to help us grow to become one of the most important auto shows in the world, and with the absolute best media center anywhere, the Michelin Media Center. We gratefully accept this generous donation from Michelin, and look forward to our next 25 years together."
Shuman added that the $25,000 gift will go to the Detroit Auto Dealers Association (DADA) Education Foundation fund. John Moloney, vice president of OE Marketing for Michelin North and South America, said Michelin's relationship with NAIAS is an important one. "Partnerships like the one between the NAIAS and Michelin are unique," said Moloney. "Since the beginning, we have shared a mutual commitment to the industry and have worked closely together to provide, through the NAIAS, the Michelin Media Center, concept vehicle introductions and the presentation of new technologies and emerging topics. As we recognize this significant milestone and valued partner, we are pleased to make this donation to support the DADA Education Foundation's efforts to assist
children in the community."
Last Updated on Thursday, 27 June 2013 16:15
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