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March 2010
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Chief
Executive Boards International Update
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Time to Register for the Spring Summit
 Make
your plans to attend the
Spring 2010 Chief Executive Summit
at Eaglewood Resort & Spa, Itasca (Chicago), IL. This is one of the
best-rated CEBI Summit venues, at lower rates than last year!
Plan to arrive Wednesday, April 21 by 6 pm for a welcome reception and bowling
night. The Summit begins at 8:30 am on Thursday, April 22 and wraps up by
3:30 pm on Friday, April 23. (Plan return flights at 5:30 or later)
Guest Article -- Roth IRA
Conversion Window
What would you think about making any investment you choose
tax-free indefinitely? Not only for your own lifetime, but also for the
lifetimes of your heirs?
Most business owners have ignored Roth IRAs, having not been
eligible due to their higher incomes.
 2010
is a different game, when you have the option of converting funds from
traditional IRAs and, in some cases, active 401(k)s by paying the income taxes
now, and no taxes thereafter.
CEBI member Tim
Meyer of Meyer
Capital Management has written an excellent guest article on this
potentially valuable, although counter-intuitive option of paying taxes sooner
in exchange for no taxes later, even if the account is passed on to future
generations.
"Nobody Ever 'Splained it That Way Before"
We're in an accountability crisis as a society. An ever-increasing lack of accountability pervades our political systems, educational
systems and celebrities. That malaise has included many families, who have
failed to instill the concept of accountability in their children.
Is it any wonder, then, that our employees come into the
workforce with a misunderstanding (or lack of understanding) of basic
accountability? Or that when we promote those folks they don't get
the idea that they're fully accountable for their teams, departments or
organizations?
One business owner explained it a different way to one of his
senior managers. Are you looking for a different way to explain the concept of
organizational accountability to a manager or supervisor? Read
on........
For the First Time Ever, Bank Cash
Holdings
Surpass Commercial & Industrial Loans
Who
would have thought the
Gatlin
Brothers were
forecasting the 2010 economy when they sang: "All the gold in California is in a bank in the middle of
Beverly Hills in somebody else's name"?
Or maybe nobody's name?
 I
regularly hear CEBI members expressing concern about inflation. I'm not
a financial analyst, but despite plenty of Washington-initiated spending I don't see the
makings of inflation in the US economy any time soon.
Someone who is a financial analyst, Justin Hoogendoorn,
Managing Director of Strategy for BMO Capital Markets Fixed Income U.S. Group,
and one of our Spring
Summit
guest speakers, just issued this interesting
article:
"The banking environment continues to deteriorate from a lending perspective. We have shown that cash holdings have been building for quite some time at banks. At the same time, lending has continued to drop. Yet in the most recent Federal Reserve data,
banks held more cash than commercial and industrial loans on the books for the first time on record dating back to
1973. (underline mine)
"Cash at U.S. commercial banks rose above $1.34T according to 2/17/10 data, while loans fell below that mark, suggesting that banks remain extremely fearful of the future. This combination stands as one of the most telling signs that inflation will likely be held at bay and the Fed will be able to hold rates low for a long time as bank lending holds the money multiplier at extremely low
levels."
See
Supporting Data.....
If your
business and personal investing strategies have near-term inflation in their
assumptions, you may wish to re-validate the time frame. Despite more
money in circulation, it's being hoarded by banks, rather than working in
businesses. That won't cause (or support) inflation in the near term. Think
instead of a golden era of low interest rates for those who can convince banks
to loan them money.
And Register
for the Spring Summit
to hear Justin
in person.
And, as always, we're
interested in your ideas for newsletter articles. Would you perhaps write
a guest Editorial? Please let us know if you have ideas or material you'd
be willing to share with others.
Thanks,
Terry Weaver
CEO
Chief Executive Boards International
TerryWeaver@ChiefExecutiveBoards.com
864 527-5917
www.chiefexecutiveboards.com
www.chiefexecutiveblog.com
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* LB =
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Listing
of all
2010 Local Board Dates
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Grey Hair
is
Still on Sale
In
recent CEBI meetings, several members have remarked on their success in hiring
highly experienced, senior professionals from the available pool of (formerly)
high-paid talent that's out there.
These
people remain available in many markets. What surprised several members is
that they hired senior people for a fraction of what they were previously
making, and both parties seemed happy with that arrangement.
There
are lots of good reasons to consider seasoned veterans that you may have thought
were out of reach of your budget. Click the button below for at least 7
of those reasons.....
Banks Still
Firing Good Customers
If
you're depending upon a relationship with a single bank in
2010, you should consider the experience of several CEBI
members whose banks have asked them to take their business
elsewhere.
Banks
are acting irrationally, continuing to call in loans from good customers (those
who can pay) to shore up their balance sheets. The number of tales we've
heard over the past year of good businesses being asked by their banks to take
that business elsewhere is amazing.
It
would appear that today's banking customer needs some kind
of relationship with at least two, and perhaps more banks to
minimize the disruption when your bank calls and says
"we're just not interested in that kind of business any
more."
Miss a CEBI
Newsletter?
Archives
are available here
Innovation
You
can find good ideas in the strangest places. The stranger the better, says
Frans Johansson's, book The Medici Effect (What Elephants and Epidemics
Can Teach Us About Innovation).
Turns
out, Johansson says, if you hang around people from your own industry, you'll
likely get ideas that are good, but not breakthrough. Breakthrough,
game-changing
ideas, he says, come from people and places you'd never expect.
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Executive Boards International? If you need an
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