January 2012
What’s INSIDE Words from the President Did You Know? Why Small Firms Stop Growing Meet Your District 10 Legislators Calendar of Events
2012 Members Go Above & Beyond! The New Year has only just begun but the Brandon Chamber has already had a very successful 2012 with the addition of over 20 new members in the past year! Growth is always at the forefront of our goals as your membership becomes more valuable with the more members we can attract. 50 Members decided to go above and beyond in their commitment to the Chamber this year with the investment of becoming a platinum, gold, or silver member. These organizations are recognized below: Platinum Members: Alliance Communications Home Federal Bank Lee Schelling, Town & Country Realtors Midwest Railcar Repair Oakridge Nursery & Landscaping Sanford Clinic Family Medicine Sioux Valley Energy Sunny Radio Sunshine Foods Todd Headrick, HJN Team Real Estate Gold Members: A & A Express Avera McGreevy Clinic Bethany Meadows Crimson Fire Crist & Wenande Orthodontics First National Bank Heartland Funeral Home Holiday Inn Express Hotel & Suites Kimberly Kremlacek, Town & Country Realtors Lewis Drug McDonald’s McKinneyOlson Insurance
PACE Manufacturing Short Elliott Hendrickson Inc. Wehrkamp Dental Wells Fargo Bank Silver Members: Avera McKennan Rehabilitation Services Brandon Ace Hardware Brandon Materials Brandon Valley Challenger Comfort Inn DeJager Plumbing & Heating Diane Anderson, Brandon/Town & Country Realty Envive Firm Foundation Home Repair Harry Buck, Town & Country Realtors J & M Sasker Jay Egge Automatic Service Jebro, Inc. Marv’s Sanitary Service Morton Buildings Pearson Chiropractic Pizza Ranch PrairieSons Inc. Splitrock Chiropractic Stockwell Engineers Subway Taco John’s Tailgator’s The 1948 Trading Co Every member is important to the Chamber and we hope whatever your investment is for 2012 that you receive the benefits you expect. If you have any questions about your membership or have a suggestion, please feel free to call us anytime at 582-7400.
Mark your calendar for these upcoming events!
Tuesday,
January 24th
Wednesday, January 25th
Saturday, January 28th
Friday, February 10th
The Horizon
WELCOME to the Family! Premium Pet Products Victory Lanes
Did you KNOW? ...Did you know that one of the benefits of your Chamber membership is the opportunity to be listed in a variety of great locations?
Business Directory
PAGE 2
January 2012
Words from the President Welcome to 2012! Before we look to the new year, I’d like to thank the out going Chamber President Paul VanDeBerg and board member Steve Tripp. Their leadership and hard work has been extremely valuable and we’re very grateful for their service and dedication.
networking. This is in addition to the many other activities and opportunities available that are too numerous to list. The Chamber is not only focused on the current business climate, but our future. Throughout 2012, we intend to be actively engaged in public discussions regarding the Railroad Relocation project, future planning with US Highway 100, and economic development with Minnehaha County and the City of Sioux Falls. As this is an election year, we look forward to engaging our local legislators in the upcoming January Session and in the November election. We want to help be your voice in shaping the future of the Brandon and Valley Springs communities.
The Chamber has an exciting year to look forward to and I’m honored and excited to be serving as your 2012 Chamber President. We continue to mature as an organization and are focused on providing memThank you for your membership and conbership value that can have a direct imtinued support in the Brandon Valley Area pact to your business success. Chamber of Commerce. 2012 will be a So how are we adding value? We have busy year and packed with events and several firsts this year; it starts with the exciting opportunities that will strive to Auction Amore in February, leads into the bring value to your membership! Tour De Kota in June, and throughout the 2012 Chamber President year our B2B luncheons will be occurring Anthony Siemonsma to provide opportunities for education and
Why Small Firms Stop Growing:
This annual listing in the back of the Brandon Phone Book is the first place many residents look for businesses. We are working on the phone book right now; get In conducting research for our recent your ads in!
Owners Must Let Go to Grow
book, Let Go to Grow: Why Some Busi-
nesses Thrive and Others Fail to Reach Their Potential (Palari Publishing, 2011), Printed every year, these maps Community Map
are given out to countless visitors we spoke with more than 100 small busiand new residents. A listing of ness owners. We found that what most frequently stalls the growth of small comChamber members is included.
panies are owners who won’t let go.
Website Business Directory
These leaders are smart people. They have great ideas and exciting visions. They work hard—often harder than their more successful counterparts. They sacrifice continuously, missing time with family and friends. Their hard work has reWant more information? sulted in growing successful businesses. Contact the Chamber Office at Then, slowly, things start to change. The 582-7400 or visit our website owners’ work piles up and some of it just www.brandonvalleychamber.com isn’t done. Their capacity is simply exhausted, and the business stalls. UnwitVisitors & Residents can look up businesses by category or name. We can link them directly to your website as well!
tingly, they constrain growth in their own companies. These leaders can free themselves from this dilemma by letting go of the very things that made the business successful when it was smaller, however counterintuitive as that may feel. They will have to delegate the day-to-day operations to managers. This can be a very scary thing for entrepreneurs because it means giving up a measure of control. It should be scary, because the only thing worse then not delegating when necessary is delegating before you construct the proper infrastructure. The business can veer off course without the owners knowing it. …. continues on page 3
Friday, February 10th Holiday Inn Express of Brandon 6:00 — 9:30 pm 5:30-6:00pm Complimentary Wine Tickets are just $15 per person! Join us for an evening of hors d’oeuvres, spirits and an entertaining auction experience! Tickets can be purchased at the Brandon Chamber Office between 8am-5pm M-F Visit BrandonValleyChamber.com for more information. Title Event Sponsor: Wells Fargo Bank and Elissa Stauffacher, Wells Fargo Home Mortgage Live Auction Sponsor: Holiday Inn Express of Brandon Live Auction Items:
• • • • • • •
7 night stay in Orlando, Florida Grand Falls Casino Couples Package Block Party Package Restaurant Sweep—gift cards for all of your favorite local restaurants! East I-90 Billboard rental for 2012 (chamber members only) Dinner party for 8 with your own in-home personal chef Best of the Board" Wine - a compilation of 10 bottles chosen by each of our board of directors!
Silent Auction Sponsor: Kimberly Kremlacek, Town & Country Realtors Silent Auction Items: • 2 Season Passes to Huset's Speedway
• • • • • • • • • • • • • • • • •
$500 Firm Foundation Home Repair Gift Certificate $250 Wedding or Graduation Print Package from Express Copy & Printing 2 Hour Interior Design Consultation by Christine Derr, Ethan Allen Designer 1 night weekend stay and 2 lunch buffets at Grand Falls Casino 6 Skybox tickets to the Skyforce 3/1/12 (courtesy of Sanford Health) County Fair Kid's Package - 10 $5 Play cards Stampede/Fighting Pheasants Fan Package 2 Season Passes to Prairie Repertory Theatre Augustana Sports Fan Package USF Sports Fan Package 2 Tickets to Celtic Crossroads at the Washington Pavilion (3/30/12) 1 hour Hot Air Balloon Ride from Brandon Valley Balloon Adventures 1 hour Horse Drawn Carriage Ride from Horse ‘n Around 3 Golf Themed blankets from The 1948 Trading Company 1 night stay in the ‘haunted’ Bullock Hotel in Deadwood 2 weekday Tubing Passes at Great Bear Ski Valley ...And more to come!
Listing Sponsor: J&L Harley Davidson
Chamber Seeking Award Nominations •
Chamber Volunteer of the Year is awarded to an individual who has made a significant contribution in 2011 to the growth and betterment of the Brandon Valley Area Chamber of Commerce.
•
Chamber Business of the Year is awarded to a business or organization who has made significant strides in 2011 to improve the quality and success of their organization and the Brandon community.
Nominations must be received by Wednesday, February 1, 2012. Nominations will be accepted on the form below for either award. Please submit to the Chamber by mail: PO Box 182, Brandon, SD 57005, fax: 605-582-8941, or email:
[email protected]. The winners will be selected by the Board of Directors and announced at the Annual Banquet on March 22, 2012.
NOMINATION FORM FOR CHAMBER AWARD Specify Award being nominated for (select one) _____ Volunteer of Year ____ Business of Year NAME OF NOMINEE: ___________________________________________________________ BUSINESS: ___________________________________________________________________ ROLE IN BUSINESS/TYPE OF BUSINESS: __________________________________________ BRIEFLY DESCRIBE INVOLVEMENT IN CHAMBER:
BRIEFLY DESCRIBE INVOLVEMENT IN COMMUNITY:
REASON THEY SHOULD RECEIVE THIS AWARD:
SUBMITTED BY: _______________________________________________________________ Phone: _________________________ Email ________________________________________
Dear Brandon Chamber Members: The Marketing Committee and the Brandon Valley Area Chamber of Commerce would like for you to be aware that we will be offering the opportunity to pre-order any additional phone books you will need for your office. You will still be receiving one free Brandon phone book in the mail but any additional phone books will be a $ 3.00 fee for pre-orders and $4.00 for those requested after the phone book has been printed. Please fill out the information request below and return this form to our office by no later than January 31, 2012.
Business Name: ___________________________________________________ Mailing Address: __________________________________________________ Phone Number: ___________________________________________________ Number of Phone Books requested: ___________________________________
_____ Payment is enclosed _____ Please invoice me
Signature: _________________________________________
Brandon Valley Area Chamber of Commerce 109 N. Pipestone St. * PO Box 182 Brandon, SD 57005 Phone: (605) 582-7400 Fax: (605) 582-8941
HAVE YOU SLIPPED INTO WINTER?? • • • • •
Falls on the ice Motor vehicle collisions Shoveling aches & pains Tumbles while skiing or sledding Hockey hiccups
Let Avera McKennan Hospital & University Health Center Outpatient Rehabilitation Services pick you up and put you back in motion.
OUR TEAM IS READY.
Call us at 605-582-3908 to set up a FREE 15 minute consult and find out if physical therapy is right for you.
Outpatient Rehabilitation Services
103 North Splitrock Blvd. • Brandon, SD 57005 www.AveraMcKennan.org REHB-27758-DE2311
Ameriprise Financial Leader, Larsen & Associates Chris M. Limmer Financial Advisor 4900 S Minnesota Ave Suite 102 Sioux Falls, SD 57108 605-367-1771
[email protected] ameripriseadvisors.com/chris.m.limmer/profile/
The Investment Tax Landscape: Countdown to 2013 In December 2010, Congress extended the so-called Bush-era tax cuts by passing the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. However, for investors, the legislation may represent not a pardon but a stay of execution. While it's true that federal tax rates on income, qualifying dividends, and capital gains have been extended through the end of the 2012 tax year, many of the issues that influenced the debate over tax rate extensions will continue to be the subject of heated discussion. As a result, investors have been granted a reprieve while Congress wrestles with those issues. That's time you can use to think about how best to position your portfolio.
The can won't stay kicked down the road forever Why should you look at the time between now and 2013 as an opportunity? Because the U.S. budget deficit is at levels that both political parties recognize can't be sustained long-term. Even if Congress can agree on budget cuts, the possibility of higher taxes in the future can't be ruled out. There are several categories of investors who should be paying particular attention to the planning process in the coming years. They include people with investments that have appreciated substantially in value; people who rely on dividends and bonds to provide them with ordinary living expenses; and people who are considering investing in the newly issued stock of a small business.
Capital gains and dividends The tax cut extensions gave investors who have large unrealized capital gains some breathing room. Rather than a top tax rate of 20%, long-term capital gains will generally continue to be subject to a maximum rate of 15%, and the rate for investors in the lowest two tax brackets will remain at zero. If you own investments that have appreciated substantially in value and that now represent a bigger portion of your portfolio than you'd like, you have another chance to examine Prepared for: Brandon Valley Area Chamber of Commerce
whether it makes sense to unwind those investments before the end of 2012. Taxes obviously are only one factor in making such a decision, of course. However, if you've been considering selling an asset anyway, you've got some time to plan and gradually implement a strategy for doing so. Two points worth remembering: first, unless further action is taken, the top long-term capital gains rate will increase to 20% after 2012 (a top rate of 10% will apply to investors in the 15% tax bracket); and second, even at the increased level, the rates on those gains would still be relatively low. As recently as 1986, under President Ronald Reagan, the Tax Reform Act of 1986 provided for capital gains to be taxed at the same rates as ordinary income, with a top rate of 28%. To paraphrase Mark Twain, no one is safe when Congress is in session, and there's no guarantee that the top capital gains rate after 2012 might not be increased beyond the scheduled 20% maximum. Qualified dividends will continue to be taxed through 2012 at the long-term capital gains rates rather than as ordinary income, as they were before 2003 and are scheduled to be again beginning in 2013. The higher your tax bracket and the more reliant you are on dividends for your income, the more you should be aware of the potential impact if that income were subject to higher taxes. Again, many factors will affect your decision about the role of dividends in your portfolio, including the potential for higher interest rates in the future. However, doing some "what-if" analysis might be useful.
Taxable vs. tax-free bonds Taxable bonds typically pay higher interest rates than municipal bonds. However, if you're in a relatively high tax bracket or expect to be in one in the future, munis can potentially offer a better after-tax return. They may be worth a second look between now and 2013, when--separate from any potential increase in federal income tax rates--the unearned income of people making $200,000 a year ($250,000 for January 06, 2012 Page 1 of 2, see disclaimer on final page
couples filing a joint return) is scheduled to be subject to a new 3.8% Medicare contribution tax. Absent further legislative changes, that could make munis even more attractive for affluent investors.
Tax traps with munis Only the interest paid by muni bonds is tax free; you could owe taxes on any increase in a bond's value when sold. Also, not all munis are tax exempt; the primary example is so-called private-purpose bonds, whose interest is taxable at the federal level unless specifically exempted. And even if it is specifically exempted from regular federal income tax, interest on private-purpose bonds may be included when calculating alternative minimum tax (AMT). Finally, holding tax-exempt securities in a tax-deferred account could mean you're accepting a lower return but getting no additional tax advantage.
However, as with any investment decision, there are many factors to consider. Local and state governments have come under severe financial constraints in recent years, and though the default rate on muni bonds has historically been low, default by individual governmental bodies is always possible. Also, the legislation that extended the tax cuts did not authorize continued issuance of Build America Bonds (BABs) beyond 2010. During the almost two years BABs were authorized, many local and state governments used them to tap the taxable bond market; that temporarily reduced the issuance of new tax-free munis. However, since BABs can no longer be issued without further authorization from Congress, the supply of new munis may increase, which could affect prices. Finally, interest rates have been at historic lows since the end of 2008; since bond prices move in the opposite direction from their yields, rising interest rates would not be good news for bond prices.
2013 and beyond The nation's financial pressures will almost certainly mean continued adjustments to the tax code as 2013 approaches. Though there are no guarantees about what will happen when the new provisions expire, investors generally have another chance to fine-tune their planning efforts while taxes remain historically low. If a bird in the hand is worth two in the bush, why not get expert help in taking advantage of the opportunities available now?
The information contained in this material is being provided for general education purposes and with the understanding that it is not intended to be used or interpreted as specific legal, tax or investment advice. It does not address or account for your individual investor circumstances. Investment decisions should always be made based on your specific financial needs and objectives, goals, time horizon and risk tolerance. The information contained in this communication, including attachments, may be provided to support the marketing of a particular product or service. You cannot rely on this to avoid tax penalties that may be imposed under the Internal Revenue Code. Consult your tax advisor or attorney regarding tax issues specific to your circumstances. Neither Ameriprise Financial Services, Inc. nor any of its employees or representatives are authorized to give legal or tax advice. You are encouraged to seek the guidance of your own personal legal or tax counsel. Ameriprise Financial Services, Inc. Member FINRA and SIPC. The information in this document is provided by a third party and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Ameriprise Financial Services, Inc. While the publisher has been diligent in attempting to provide accurate information, the accuracy of the information cannot be guaranteed. Laws and regulations change frequently, and are subject to differing legal interpretations. Accordingly, neither the publisher nor any of its licensees or their distributees shall be liable for any loss or damage caused, or alleged to have been caused, by the use or reliance upon this service.
Page 2 of 2 Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2012
The Horizon
PAGE 3
January 2012
Meet Your District 10 Legislators Senator Shantel Krebs 25740 Packard Ln. Renner, SD 57055 Cell Phone: (605) 351-5916 Email:
[email protected] Occupation: Businesswoman MAJOR GOALS: Appropriating increased fund-
Representative Gene Adbdallah 4908 S. Glenview Rd. Sioux Falls, SD 57108 Home Phone: (605) 338-0544 Email:
[email protected]
ing for K-12 and higher ed. Advocating for increases in highway infrastructure monies. Party: Republican Term: Other House Counties: Lincoln, Minnehaha Committees: Agriculture and Natural Resources, Health and Human Services, Transportation
MAJOR GOALS: Education, Public safety Party: Republican Term: Other House Counties: Lincoln, Minnehaha Committees: Judiciary, State Affairs
Occupation: Retired Law Enforcement
Representative Roger Hunt PO Box 827 Brandon, SD 57005 Home Phone: (605) 582-3865 Email:
[email protected] Occupation: Attorney MAJOR GOALS: Balance the state budget. Increase economic growth without increasing the
size of state government. Solving the state’s increasing medical costs. Party: Republican Term: Incumbent Counties: Lincoln, Minnehaha Committees: Education, Judiciary, Legislative Procedure
Why Small Firms Stop Growing (continued) continued from page 2...
reach the point where the owners cannot be personally involved in every transaction, good process documentation is the best way to communicate The right mangers. Delegating be- to employees exactly how you want fore the right people are in place is a things done. recipe for disaster. Now-thriving businesses that we analyzed almost went Robust metrics. This is what enunder when the principals delegated ables business owners to know what responsibility to a manger who was is going on in the bowels of the businot able to handle it. ness even though they aren’t personally there. For example, tracking the Documented processes. It’s not number of late shipments will inform very sexy, and no one will pay a nickel the owners if there is a problem while more for your product or service be- there is still time to fix things and because you have well-documented fore customers are lost. Good metrics processes. Even so, once businesses enable the owners to sleep at night. Before the owners delegate, they must have three things:
Successful delegation is key to continued growth. With this infrastructure in place, the owners can safely let go, and the business can grow.
Doug and Polly White Principals, Whitestone Partners WhitestonePartnersInc.com
Join us at our Legislative Coffees Saturday, January 28th 9:00 am at Bethany Meadows Saturday, February 18th 9:00 am at Tailgator’s
The Horizon
January 2012
CALENDARof events……………………………………………………… February 2012
March 2012
1—Marketing Committee—8:30am at the Chamber
1—Member & Public Relations—8:00am at the Chamber
2—Member & Public Relations—8:00am at the Chamber
6—Executive Committee—8:00am at the Chamber
7—Executive Committee—8:00am at the Chamber
7—Marketing Committee—8:30am at the Chamber
10—Auction Amore—5:30 pm Complimentary Wine; 6:00 pm Auction at Holiday Inn Express
13—Chamber Board—8:00am at the Chamber 21–Fundraising Committee—8:30am at the Chamber
14—Chamber Board Meeting—8:00am at the Chamber
22—Issues Management Committee—8:00am at the Chamber
15–Fundraising Committee—8:30am at the Chamber
22—Annual Banquet—5:30 pm Social Hour; 6:30 pm Banquet at Holiday Inn Express
16—Chamber Mixer—Victory Lanes—900 N. Splitrock Blvd.— 5:00-6:30 pm
27—Networking at Noon—12:00-1:00 pm at Tailgator’s
18—Legislative Coffee—9:00am at Tailgator’s 20—Chamber Office CLOSED — President’s Day
23—Issues Management Committee—8:00am at the Chamber 28—Networking at Noon—12:00-1:00 pm at The Brandon Steakhouse
Don’t get the weekly email updates? Sign up today or you miss out! Email
[email protected]
Horizon is an official publication of the Brandon Valley Area Chamber of Commerce www.brandonvalleychamber.com (605)582-7400 ~
[email protected]
BVACC Board of Directors President, Anthony Siemonsma, Edward Jones Vice President, John Small, Sunny Radio Secretary, Tom Wullstein, Brandon Health Mart Pharmacy Past President, Paul VanDeBerg, Alliance Communications Jeff Bowar, Sanford Health Harry Buck, Town & Country Realtors Sandy DeZeeuw, Home Federal Bank Kris Haase, Express Copy & Printing Laura Kuehl, Bethany Meadows Beth Wooten, Holiday Inn Express Hotel & Suites
BVACC Staff Kim Cerwick, Executive Director Lindsey Barwald, Administrative Assistant
