Monday, February 10, 2003

Morning Memo


Hot tips & news to start your business day

Today's number: $4.2 billion - Investments by venture capitalists during the fourth quarter of 2002, a 49 percent drop from $8.2 billion at the same time in 2001.

Today's money tip: When it comes to taxes, the difference between a qualifed and nonqualified savings plan or distribution is that a qualified one is eligible for certain tax breaks. Qualified savings plans usually have various restrictions that make the tax favored. Qualified withdrawals from such a plan typically need to be used for a certain expense (such as tuition from a college savings plan) in order to be tax favored.

Today's career tip: When talking to a reporter about your company, it pays to expect to have a conversation with someone who is outside the mainstream, Bernard Goldberg says in Bias: A CBS Insider Exposes How the Media Distort the News. Citing a March 2000 survey by of 3,400 journalists: "They are less likely to get married and have children, less likely to do volunteer community service, less likely to own homes and less likely to go to church than others. It's not just that so many journalists are so different from mainstream America. It's that some are downright hostile to what many Americans hold sacred."

Today's company: THE O'DELL GROUP INC. THE BUSINESS OF MEDICINE: Jason M. O'Dell founded his firm in 1992, focusing on providing financial advice for doctors. Originally based in Columbus, the company moved its main office to Cincinnati in 1996 because the city is a major medical center. The O'Dell group found a niche working with medical residents who often receive no formal training in financial or business issues. To fill that void, the company provides seminars in practice management.

AT HOME IN TWO C'S: O'Dell's Kenwood headquarters has nine employees; three employees work in the Columbus satellite office.

STAYING POWER: Most O'Dell clients are in the Tristate, but residents who move elsewhere in the country often retain the company as advisers.

STRATEGIC LISTING: In its Dec. 9, 2002, issue, the national publication "Medical Economics" numbered The O'Dell Group among its list of "The 150 Best Financial Advisors for Doctors."




LOCAL BUSINESS NEWS
Author advocates taking ACTION
ECKBERG: New tone needed in job safety
Morning Memo: Hot tips & news to start your business day
Making It: Promotions & new on the job

NATIONAL BUSINESS NEWS
Some major stores taxing online sales
Bully bosses get theirs
Gas up nearly 11 cents in two weeks
Machine tool sales up 45.5%
Women's magazines get makeovers
Bethlehem retirees scrambling for benefits

SUNDAY BUSINESS NEWS
SEC says trader took investors' money, lived large
East End eyes development warily
5/3 anxiously awaits end of federal inquiry
Dig a bit to find gold in reports
SUNDAY BUSINESS INDEX