Wednesday, February 07, 2001

Morning Memo




Today's promotion

        David B. Earlywine have been named executive vice president of operations at Beacon Electric Co. Mr. Earlywine has been with the company since 1989 and formerly held the position of manager, special projects/service division. He is a 1982 graduate of Cincinnati State with an associate's degree in electrical engineering.

Today's number: 60%

        Percentage of female buyers of Volkswagen's New Beetle. The car saw sales of 60,000 in 1998 and more than 80,000 each year in 1999 and 2000. This year's sales are projected to be 70,000.

Today's money tip:

        People considering retirement should continually re-evaluate long-term planning strategies to achieve the best tax advantages, according to Keith Oates, tax partner in the Financial Counseling Service Practice in the Boston office of Deloitte & Touche LLP. One key goal: Maximizing income deferral.

        “Your best chances to defer significant amounts of ordinary income for the long term are generally in the area of earned income (such as salary and bonuses) and retirement accumulation plans. You may also have opportunities to defer tax by using qualified retirement plans and nonqualified deferred compensation plans.”

        Today's career advice:

Bernadette Kenny, executive vice president for global outplacement and career services firm Lee Hecht Harrison, encourages individuals to cultivate their networks, stay abreast of changes in their company and industry, keep developing skills and seize opportunities to show their value — even if they don't anticipate being laid off.

        “Career management should be a way of life, not just something people do in a crisis. That way, if there's a decline in company earnings or if a new technology changes the way the company does business, workers will be well-positioned to make the transition to another employer.”

Today's Company: Ohio Casualty Group

        CLICKING YOUR CLAIM: Ohio Casualty Group's member companies have added a feature to their Web site — www.ocas.com — that lets customers report a personal auto claim by mouse. Soon other types of claims can be entered online.

        HAMILTON ROOTS: The group's flagship company, The Ohio Casualty Insurance Co., was founded in 1919 in Hamilton. Ohio Casualty Group is now active in 40 states and provides insurance for autos, homes and businesses through four member companies.

        PORTFOLIO: Ohio Casualty Group has about $1.6 billion in written premiums. The corporation's common stock is traded on the Nasdaq as OCAS.

       



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