Tuesday, June 3, 2003

Morning Memo

Hot tips & news to start your business day

Today's number: 245 million - Bushels of soybeans that are expected to be stockpiled in the United States at the end of this year, up from 135 million last year and the highest since 1999 as foreign exporters increase competition abroad, the Agriculture Department said Monday.

Today's number: 245 million - Bushels of soybeans that are expected to be stockpiled in the United States at the end of this year, up from 135 million last year and the Today's career talk

If you are getting a little too intimate with your computer, codependent on your desk, then the best approach is to leave. "Make a run for it," Darrin Zeer says in the book Office Spa: Stress Relief for the Working Week. "For a heavy dose of nature, take yourself to the local park. Just a few minutes in a green space will put things into perspective.

Today's money tip:

If you would like to give your grown child a cash gift for a down payment on a house or for some other reason, it's important to understand how much the IRS allows you to give without being hit by the gift tax.

Any person can give $11,000 a year to each of as many individuals as he or she wishes without triggering gift tax. Besides cash, gifts of real estate, antiques or shares of stock are also subject to tax. Anything with a value over $11,000 is taxed between 18 percent and 50 percent.

The tax is due April 15 following the year the gift is made.

Gifts to spouses, political organizations and most charities are exempt from the tax. So are educational and medical expenses you may pay on behalf of someone else.

To determine how much tax you might pay on a future gift, see the IRS Instructions for Form 709 at http://www.irs.gov/

Today's mover:

Regular photoLee E. Lyon II has been named vice president of residential mortgage at Fifth Third Bank. Lyon is responsible for risk management, systems and product development, legal compliance and quality assurance related to residential mortgage. Lyon was mortgage banking audit manager for Fifth Third. He earned an associate's degree in accounting and a bachelor's degree in business finance from Franklin University, Columbus.

Today's company: Elegant Fare

DELIVERING DELICACIES: Based in Sharonville, this catering business began in 1981 as a supplier of frozen gourmet meals for home consumption. After five years, owners Bert Kurinsky and Anne Lisbin began focusing on off-premises catering and expanded into providing meal service for large companies.

EVERYWHERE AT ONCE: Elegant Fare has exclusive catering contracts at the Cincinnati Museum Center, Dayton Art Institute and does all the Cincinnati Art Museum's offsite catering. It works also with the Aronoff Center, Taft Museum, Music Hall, Wilkes Conference Center in Hamilton and a number of area parks and estates. The company caters about 100 weddings a year.

COURT AND PORT: For the fourth year, Elegant Fare will cater the Masters Series Tennis Tournament in Mason. It will serve food aboard five of the ships participating in this fall's Tall Stacks event.

CUISINE FOR A CROWD: One of the largest events Elegant Fare has catered was a local insurance company's sit-down dinner for 2000 people. It just won the contract for Playhouse in the Park's annual gala, "Abracadabra."

Local consequences up for debate
FCC eases limits on media ownership
Q&A about rule changes

Kobe Steel to build plant in Ky.
Tristate Summary
Morning Memo: Hot tips & news to start your business day

Manufacturing declines, but outlook improving
'LifeLog' to record all one does
TiVo to sell info on viewer choice
Employers hire chaplains to counsel workers
WestPoint Stevens files for Ch. 11
Pecan growers hope to match
Vidalia's success

Business Digest