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BizjrnlDec.2013

BizjrnlDec.2013

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Published by The Delphos Herald
2013 The Business Journal
2013 The Business Journal

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Published by: The Delphos Herald on Dec 05, 2013
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www.businessjrnl.com
   T  h  e   B  u  s  i  n  e  s  s  J  o  u  r  n  a  l   4  0  5   N .    M  a  i  n  S  t .    D  e  l  p  h  o  s ,   O   H  4  5  8  3  3
   P   R   S   T   D   S   T   D    U .   S .   P  o  s t  a  g  e    P   A I   D    D  e l  p  h  o  s ,   O   H    P  e  r   m i t   N  o .  2  1
Minimum wage to increase 2UNOH Event Center 4 Gitomer column 7
INSIDE
B
usiness
 J
ourna
l
OF WEST CENTRAL OHIO
THE
December 2013
The Region’s Business Publication
 
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The open house for the new Ft. Jennings State Bank headquaters in Ft. Jennings was held Sunday, Nov. 24. The com-pleted project more than doubled the amount of office square footage and customer parking.
The number of homes sold across Ohio in-creased 8 percent in October, as the market posted year-over-year gains in activity for the 28th con-secutive month, according to the Ohio Association of REALTORS.“The Ohio housing market is continuing to maintain a modest, steady pace in terms of its over-all level of sales and pricing growth,” said OAR President Thomas J. Williams. “While our string of consecutive monthly gains has been instrumental in our effort to rebuild an important sector of our econ-omy, it appears that we’re entering into a more tra-ditional housing marketplace ... one that stabilizes and experiences ebbs and flows in overall activity.”Sales through the first 10 months of 2013 reached 110,674, a 16.7 percent increase from the 94,891 sales posted during the same period a year ago. The average sales price (January through Oc-tober) this year is $142,820, a 5.4 percent increase from the $135,464 mark set during the period a year ago.Total dollar volume this year has topped $15.8 billion, a 23 percent increase from the 10-month mark of a year ago of nearly $13 billion.Sales in October reached 11,076, an 8 percent increase from the 10,257 sales posted during the month a year ago. The October 2013 sales total is the month’s best mark since 2006. The average sales price of $137,039 is a 2.3 percent increase from the $133,914 average price posted in October 2012.Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of REALTORS, with more than 26,000 members, is the largest profes-sional trade association in Ohio.
October home sales for Ohio
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The
Business
Journal
December 2013
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October credit managers’ index increases
Despite the threat of a political im-passe in the United States that some thought could derail the entire global economy, October’s Credit Managers’ In-dex (CMI), issued by the National Asso-ciation of Credit Management (NACM), was largely unfazed. The combined CMI improved from 56.6 in September to 56.7 in October, marking the highest reading in over a year and a half.The October CMI may have been the most watched in years, according to NACM Economist Chris Kuehl, PhD. “The dominant story for the bulk of the last quarter was the political impasse that resulted in a government shutdown for three weeks and posed a threat to the U.S. credit rating,” he said. “Everyone was hanging onto the edge of their seats to see what this would do to the economy. Pre-dictions ranged widely from utter finan-cial chaos to no real response at all.”Recent declines in retail, consumer confidence and industrial production seemed to bear out the most pessimistic predictions, but the CMI tends to lead other indicators by approximately three months. There was a slight drop in July’s CMI readings, signaling some anxieties in the fi-nancial community about the then-looming threat of a government shutdown or default, but that was followed by successive increases in August, Sep-tember and now October. “The credit decision is very early in the business process and thus signals future intent,” Kuehl said. “The sense thus far is that all the political turmoil did not have an impact on the future plans for business.”The most surprising data in this month’s CMI came in the favorable fac-tors index, the combined reading of which increased from 60.9 last month to 61.5 in October. Sales slipped just slightly from 62.7 to 62.5, but managed to stay above 60, as it has since April. The CMI’s best news came in the new credit applications and amount of credit extended readings. New credit applications rose from 57.4 to 58.5, signaling that more companies are seeking additional credit in order to grow their business. “This alone would not be cause for great celebration as there are many occasions that companies seek credit but are doing so from a position of weakness,” Kuehl said. “The better news is that amount of credit extended also in-creased from 62.9 to 63.8, suggesting that those asking for additional credit are good companies with solid credit ratings. These are the companies expecting improve-ments in the economy by next year.”If the October CMI reflected any of the negative economic effects of the political brinksmanship in Washington, it did so in the unfavorable factors. The overall unfavorable index declined from Sep-tember’s 53.8 to October’s 53.6 driven by rejections of credit applications, which slipped from 53 to 52.1, and accounts placed for collection, which fell from 54.3 to 53.3. “More companies are having is-sues, which may be directly related to the government shutdown and related stress given that 156,000 companies do work for the government,” Kuehl said. Still, disputes, dollar amount beyond terms and dollar amount of customer deductions all registered increases, and the unfavorable index itself has by and large remained stable and trending in the right direction.
Ohio minimumwage to increase
Ohio’s minimum wage is scheduled to increase on January 1, 2014 to $7.95 per hour for non-tipped employees and to $3.98 per hour for tipped employees, plus tips. The increased minimum wage will apply to employees of businesses with annual gross receipts of more than $292,000 per year.The current 2013 Ohio minimum wage is $7.85 per hour for non-tipped employees and $3.93 for tipped employ-ees, plus tips. The 2013 Ohio minimum wage applies to employees of businesses with annual gross receipts of more than $288,000 per year.The Constitutional Amendment passed by Ohio voters in November 2006 states that Ohio’s minimum wage shall increase on January 1 of each year by the rate of inflation. The state minimum wage is tied to the Consumer Price Index (CPI) for urban wage earners and clerical workers for the 12-month period prior to Septem-ber. This CPI index rose 1.5% over the 12-month period from September 1, 2012 to August 21, 2013. The Amendment also states that the wage rate for non-tipped employees shall be rounded to the nearest five cents.For employees at smaller companies _ with annual gross receipts of $288,000 or less per year in 2013 or #292,000 or less per year after January 1, 2014 - and for 14 and 15-year-olds, the State mini-mum wage is $7.25 per hour. For these employees, the State wage is tied to the federal minimum wage of $7.25 per hour, which requires an at of Congress and the President’s signature to change.
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December 2013
The
Business
Journal
3
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Business
Journal
THE
of West Central Ohio
Volume 22, No. 12Publisher: Donald R. HempleContributing WritersJeffrey Gitomer  Advertising: Donald R. Hemple
The Business Journal is mailed to the top business leaders in the 13-county region of West Central Ohio. Although information is gathered from sources considered to be reliable, the accuracy and com-pleteness of the information cannot be guaranteed. Information expressed in The Business Journal does not constitute a solicitation for the purchase or sale of any products.Copyright, The Business Journal of West Central Ohio, 2006, All rights reserved. Reproduction or use, without written permission of editorial, photographic or other graphic content in any manner is prohibited. The Business Journal is published monthly at 405 N. Main St., Delphos, OH 45833
Contact UsTelephone 419-999-4762Don Hemple 419-695-0015 ext. 138Marilyn Hoffman 419-695-0015 ext. 131 toll free 800-589-6950
Mail 405 N. Main St., Delphos, OH 45833-1598
For information concerning news,advertising and subscription e-mail us at:dhemple@delphosherald.comor bizjrnl@delphosherald.comwww.businessjrnl.com
 
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This is the time of year not only indi-viduals feel benevo-lent but businesses do, too. We’re filled with the giving spir-it, wanting to make peoples’ lives better during the holidays. Where better to give than to a veterans or military-affiliated charitable organiza-tion? After all, these folks have played a vital role in preserving our freedoms.But unfortunately, there are scam-mers out there just waiting to take ad-vantage of this well-meaning generosity, so here are a few tips to make sure your good intentions accomplish the good you expected.• Confusing names - Make sure the name of the organization you donate to is actually the one you intended. Scammers will often use the same words in different order to name their bogus charities.• Be cautious of telemarketers – A fa-vorite scam is to solicit money over the phone. A simple safeguard that often deters the fraudulent telemarketer is to request that they send you written details of their charities’ finances and programs before you donate. Most scammers will just move on.• Don’t be pressured – Though the need is great this time of year, most responsible charities appreciate the gift whenever it is received and won’t attempt to “guilt” you into making an immediate on-the-spot do-nation.• Look for clarity – Research the organi-zation’s website, letters and appeals. Look for a clear, specific explanation of how vet-
Giving to veterans organizations this holiday season
Portland, Indiana native Theresa Van Skyock has joined Garmann/Miller & Associates as a designer.She graduated from Purdue Univer-sity in June 2011 with a Bachelor of Sci-ence in Computer Graphics Technology with concentration in Construction and a minor in Art & Design. She is also a LEED® Green Associate.Van Skyock is a 2007 graduate of Jay County High School and most recently worked at Kokosing Construction in Westerville for the last two years as their CAD/BIM Manager.Garmann/Miller is a full-service ar-chitectural and engineering firm with a staff that includes registered architects, landscape architects, designers, profes-sional engineers, construction admin-istrators and administrative person-nel serving public and private clients throughout Ohio.
Van Skyock
Van Skyock joinsGarmann/Miller
See GIVING, page 4

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