Wednesday, March 12, 2003

Morning memo

Hot tips and news to start your business day

Today's number: $1.2 trillion

China's gross domestic product in 2002 (about 10.2 trillion yuan), up 8 percent from 2001 - a result of strong exports, increased foreign direct investment and heavy state spending on fixed assets, the State Statistics Bureau said.

The Associated Press

Today's career tip

The notion of risk is inseparable from the ideas of probability and uncertainty, Anthony Giddens says in his book Runaway World: How Globalization is Reshaping Our Lives. "There is an old joke that makes this point rather neatly: a man jumps from a skyscraper. As he passes each floor the people inside hear him saying `so far so good,'" Giddens says. "He acts as though he is making a risk calculation, but the outcome is in fact determined."

John Eckberg

Today's mover

Karen L. Kranak has joined The Angus Group, an executive search firm, as vice president. Kranak has over 25 years experience in the industry. In addition to having served as a Greater Cincinnati Chamber of Commerce board of trustee and board member for National Personnel Associates, she is an alumni of Cincinnati Leadership Class XII. She currently serves on the YWCA board of directors, the board for Blue Ash Revitalization and is a member of Cincinnati Rotary.

Shirley Dees

Today's money tip

Whether you take a distribution from your traditional IRA in cash or stock, you will pay income tax at the ordinary earned income rates.

But if you take your distribution in shares, you are taxed at the fair market value of the shares on the day they are withdrawn from the IRA account. No capital gains taxes are due on the appreciation of the stock at that time.

But you will be responsible for future capital gains starting when the stock hits your regular brokerage account. The cost basis for when you sell the stock down the road is set at the fair market value that day.

Amy Higgins

Today's Company: Computer DNA

Apple Polishers: Michael Bell and Vic Pramaggiore launched their all-Macintosh business in February 1996. The company first settled in a warehouse in Lockland in which the furnace had to be turned off in order for the owners to hear phone callers. Six months later, the business moved to Blue Ash, where the furnace is much quieter. Computer DNA sells Macintosh equipment and software and provides consulting and service.

Sprouting Sales: Growth over the past six years has been steady, averaging 10 percent annually. Staff has expanded from two to seven. Computer DNA now employs seven people and provides consulting, sales and service to users of Macintosh equipment. Even though it's exclusively a Mac shop, Computer DNA has established strategic alliances with PC consulting firms and can help its customers solve cross-platform problems.

Mapping Clients: Computer DNA clients are individuals and companies who use Macs for small business automation and desktop publishing. They include Ethicon Endo-Surgery, Western-Southern Life, Galerie Au Chocolat, the Cincinnati Enquirer, Cincinnati Magazine and Scripps Howard.

Jenny Callison

Local index hits a new low
Airlines ask help with war losses
Kroger meets Wall St. expectations
Making way for new mall
Expert: Ohio can choose high-tech economic future
Nonprofits get chance at $25,000
ImClone's Waksal agrees to fine, ban
Lenders can get $1 million in special grants
Groups sue about manure rules change
OPEC output to stay current, delegates say
Henkel buys stake in Wella
Business digest
Morning memo