Monday, March 24, 2003

Morning Memo


Hot tips & news to start your business day

Today's number: 101,500 - Average daily commissionable trades at biggest discount broker Charles Schwab Corp. in February, down 20 percent from 126,300 in January and a 4 1/2-year low.

Today's career tip: When a job is delegated to you, strap on your seat belts because the ride might get bumpy, says Bobby Unser, three-time Indianapolis 500 winner and author of Winners are Driven: A Champions Guide to Success in Business & Life. "Today we have executives who dump the tough tasks onto managers and just say Joe, you handle this," Unser says. "(Some managers) duck accountability by passing the tuck under the guise of delegation. They give a subordinate a no-win task."

Today's money tip: You could pay tax on your Roth IRA withdrawals if you don't follow the rules. You'd pay tax only on earnings, not your own contributions because those have already been taxed. And because you first take out contributions, then earnings, you'd pay only if you took out more than you put in.

Disbursements generally are free from income tax as long as they are made after you are age 591/2 and have held the account for at least five years. (Other circumstances can include death, disability or qualified first-time home-buying.)

Today's company: DIVERSIFIED DESIGN DYNAMICS LTD.

DESIGNING TRIO: DDD was founded in June 1999 by Cincinnatians Mark A. Louis, Adrian Wilcox and David M. Robers. When the company's sales volume doubled in a year, it moved to a new facility in West Chester. DDD has been designated a Certified Engineering Provider for Parametric Technologies and a Certified Training Center for Rand Worldwide. Company staff train area professionals to use 3D software.

SPURRING SALES: The founders attribute their company's growth to its expertise in finite element analysis (product strength testing), reverse engineering (taking existing products apart to develop CAD specifications), numerical control programming (writing code for complex machines) and progressive die design. DDD also provides turnkey services for machine or product design and building.

ON THE DRAWING BOARD: The company plans to expand its focus by patenting and producing consumer products, from games to hand tools to child safety items.

SERVING THE BIG NAMES: Clients are located throughout the U.S. and include Copeland Corp., Baumfolder, Pitney Bowes, Vermont American/Bosch, Stanley Tool and New Sabina Industries.




TODAY'S BUSINESS NEWS
ECKBERG: Eyeglasses change lives overseas
Making It: Promotions & new on the job
Morning Memo: Hot tips & news to start your business day

SUNDAY'S BUSINESS NEWS
Chiquita plans steps for 2003
Bank's loans caused trouble
Best to plan now before leaving your business
What's the Buzz?
Friends view rooms with a future at their B&B
Weed out customers not buying
War may not boost economy
Industry notes: Commercial real estate
Business notes