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Thursday, March 07, 2002

Morning Memo


Hot tips and news to start your business day

Today's Number: $63,000

        Amount five investment bankers from Barclay's Capital spent on five bottles of rare wine for a celebration dinner in London after closing a big deal last July. The restaurant, Petrus, gave them the dinner for free. The five recently were forced out of their jobs, according to the BBC.

— The Cincinnati Enquirer

Today's Mover

        • Jay E. Van Winkle, executive director of the Southern Ohio Chapter of The Leukemia & Lymphoma Society, has been appointed president of the Inter Parish Ministry board of trustees. IPM is an ecumenical social service agency that provides assistance to low-income families in Cincinnati's eastern suburbs and Clermont County.

— Shirley Dees

Today's Career Talk

        Athletes visualize performances, and so should business owners, suggests Kerry Gleeson, author of The Personal Efficiency Program. “Visualizing implies a more structured and disciplined view of what you are trying to accomplish,” Mr. Gleeson says. “By visualizing, you look at your goal from many different viewpoints — you get clarity and can act on the things that are most important and will result in the greatest payback.”

— John Eckberg

Today's Money Tip

        Don't cash out retirement plans when changing jobs, even if the plan's balance is very small. Roll the amount into your new employer's plan or into an Individual Retirement Account.

        If you cash out, not only do you stand to lose almost half the money to taxes and fines, but even small amounts can grow to a sizable amount over time with compound interest. Just $5,000 grows to $140,000 after 35 years of 10 percent compounded interest — even if you don't add another dime.

— Amy Higgins

Today's Company: Reliable Castings Corp.

        Taking Shape: Journeyman pattern makers Ed Korten and Art Kuhn set up their own foundry in 1922. Their enterprise now comprises a plant in Cumminsville and one in Sidney, Ohio. Combined, the two facilities total 325,000 square feet and occupy 42 acres.

        Melting And Molding: Reliable supplies aluminum and other nonferrous castings to the automotive, commercial lighting, hydraulics, railroad, machine tool and diesel engine industries.

        Close Connections: Fifteen percent of Reliable's 200 employees are related to one of the company founders or an original employee. New Looks For Lights: Reliable is providing the ornamental lamp post bases to give Chicago streetlights a face lift.

— Jenny Callison

       

       



P&G plan for Clairol completed
Tariffs raising factory costs
Chiquita buyout plan reported
Judge: Car buyers must pay again
Allies warn of retaliation, WTO case
New Enron chief says resurrection possible
Signs of economic rebound increasing
Tristate Summary
- Morning Memo
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