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LUMBERVIEW
2nd Quarter 2015
Brought to you by the Oklahoma Lumbermen’s Association
Update on Overtime - Wage and Hour Division
R
ecently, President Obama made
an important announcement on
overtime. The Wage and Hour Division (WHD) of the U.S. Department
of Labor has been working to update
the rule that would extend overtime
pay to nearly 5 million workers. The
proposal would guarantee overtime
pay to most salaried workers earning
less than an estimated $50,440 next
year.
This is incredibly important for
workers who deserve a fair day’s pay
for a hard day’s work -- and it’s great
for business owners who are already
paying their employees what they
deserve.
Following months of extensive consultations with employers, workers,
unions, and other stakeholders, WHD
developed a proposal that would:
• Raise the threshold under which
most salaried workers are guaranteed overtime to equal the 40th
percentile of weekly earnings for
full-time salaried workers. As
proposed, this would raise the
salary threshold from $455 a
week ($23,660 a year) – below
the poverty threshold for a family of four – to a projected level
of $970 a week ($50,440 a year)
in 2016.
• Extend overtime pay and the
minimum wage to nearly 5
million workers within the first
year of its implementation, of
which 56 percent are women
and 53 percent have at least a
college degree.
• Provide greater clarity for millions more workers so they
– and their employers – can
determine more easily if they
should be receiving overtime
pay.
• Prevent a future erosion of
overtime and ensure greater
predictability by automatically
updating the salary threshold
based on inflation or wage
growth over time.
The minimum salary increase
being considered by the Federal
Dept. of Labor for all salaried people in the U.S. would
go from $ 455 per week up to
$970 per week sometime in
early 2016. These minimum
salary increases do NOT take
into consideration or include
any bonuses or commissions
that may be earned. The
DOL is currently asking for
comments until Sept 4th from
companies and organizations
regarding these proposed changes. The NLBMDA and OLA
is working through the Subcommittee on Workplace Protections in response to the proposed changes. We will keep
you informed of any changes
as they occur ”.
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Inside This Issue
Legislative Update
President’s Message
Health Plan Update
Summer Fling Pics
Mobb TopGolf Event
Mobb Updates
Legislative Report
OLA Membership
New Babies
• Calendar of Events
2nd Quarter 2015
From Your
2015 President
Rich Bass
I
f you missed the summer fling last month, you
missed a wonderful time and the location was absolutely beautiful. I highly recommend that you plan
on joining us next year at the newly renovated Sequoyah Lodge on Ft. Gibson Lake. If you have never
attended the Summer Fling, it is the perfect time to
spend with family and friends while networking!
I had the privilege to lead the runners in the first
annual MOBB Fun Run! They weren’t being honest
when they called it a “Fun Run” because I had to lay
in a fetal position on the couch for the next few days
just to recover! As the first place winner in the men’s
division, I was awarded the big screw.
My year as OLA President has been full and the
time has flown by! We have been working with OSUOKC to promote and expand enrollment for this
fall. I would like to encourage you to take advantage
of the scholarships available and the opportunity to
have qualified employees by promoting these classes
to your friends and employees. Most of the classes
are available online so students are able to complete
them in the evenings and weekends.
One of my goals as President was to help get the
MOBB going and I feel that we are definitely headed
in the right direction. This is our second year and
the events have been very well attended, educational
and fun. Please encourage the next generation (there
is no age limit) in your business to attend these
events and connect with others in the industry. Help
motivate your employees by having them network
with some of the best in the industry. The next event
is scheduled at the newly opened TOPGOLF in
Oklahoma City. You do not even have to know how
to play golf in order to have a good time. Make plans
to join us on August 6th at 5:30!
I hope that everyone has recovered from the
historical rainy season that we had and are now
seeing an increase in sales with construction up. I
know that the oil industry had an impact on a lot of
the yards but thankfully, we still have one of the best
housing markets in the nation.
Health Plan Update
Page 2
By Henry Bockus, EBC Chairman
W
e are excited to announce that the OLA Health
Plan Plus has entered into a new partnership
with NFP. All deductibles for 2015 will rollover to
the new system so your employees will not lose any
of their deductible that has accumulated for the year.
The only changes will be deeper discounts on claims
through Aetna and Delta Dental and new Health Plan
cards, which will arrive prior to the effective date of
October 1st.
I want to thank the Employee Benefits Committee
who worked long hours to make this decision.
In addition to myself, committee members include Bill
Lee (Red Devil), Mike Davis (Mid-States Wholesale),
John Stephens (Gordon White Lumber), Janet Hodde
(White’s Ace Building Center),
Laura Benton (Oklahoma Home Center), and K.C.
Rotschopf (Lumber Mart).
Please feel free to contact Karen at the OLA office or
any of the EBC committee members with any questions or concerns that you have.
We also want to extend a heartfelt thank you to Rick
Franklin and his team at Frates Benefit Administrators
for their efforts to provide excellent service for the past
15 years.
We would appreciate the opportunity to quote any
OLA members that are not currently participating in
our benefits programs. To request a quote from the
OLA Health Plan, please call Karen Baker at the OLA
office (1-800-444-1771) or Brady Ayala with NFP (405627-5583).
Henry Bockus, Health Plan Plus Chairman presented
Rick Franklin and Gary Isbell with Frates Benefit Administrators a wooden sawblade in gratitude of their
many years of service and partnership with the Health
Plan Plus.
Page 3
House Committee Again Votes to Stop EPA Lead Rule
Enforcement
Page 4
2nd Quarter 2015
Golf Tournament
at Dornick Hills
2nd place: Tyler DeWitt, Russ
Carpenter, & Joe Ross
1st place: Joe Colley, Rich Bass,
Matt Best, & Reid Colley
Bruce Kulzer
Cedar Creek Lumber
Veronica & Kayla making
money for the MOBB
Jim Walker, Jay McKissick,
Bruce Kulzer, & Tyler Schmidt
Jeremy Koeltzow, Michael Beaver,
Carlous West, & Tommy Koeltzow
Dusty & Penny Hammack,
Matt Shaw, & Darren Harak
Page 5
We had a blast at our
Summer Fling
at the Chickasaw Retreat Center
in Sulphur, Oklahoma!
Thanks to everyone who joined
us and to all of our sponsors!
Page 6
2nd Quarter 2015
the next generation
The MOBB hosted it’s
first annual FUN RUN/
WALK at the Chickasaw
Retreat Center in Sulphur, OK on June 14th.
We had a great turnout
and no one stepped a
rattlesnake or bit the
dust, so it was a success!
Sponsored by
Colley & Company
Reid Colley, Mobb Chairman,
presents 1st place award to
our OLA president, Rich Bass
with Do It Best with a time of
19:22.
Brianna Benton was our
youngest
participant
and received a
special award!
Colley presents Diane Garrison with Garrison Lumber
with an award for 1st place
in the Women’s division with
a time of 25:58.
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2nd Quarter 2015
Thank you to our Sponsors
at Summer Fling
Arrowhead Lumber
Mohawk Materials
Boise Cascade
NFP
Cedar Creek
CertainTeed
Federated
PLM/ILM
PrimeSource
Keathley Handling
TAMKO
Mid-States Wholesale
Quikrete
Page 9
Mobb Update
by Reid Colley, Mobb Chairman
The dog days of summer are upon us and hope you
are all having a great summer. The MOBB just concluded its first inaugural fun run in conjunction with
the OLA Summer Fling. We appreciate everyone’s support who helped and participated in our
first fun run.
We have our next event at TOPGOLF Thursday, August 6th. TOPGOLF is great fun and a
great way to meet people within our industry. Remember, MOBB events have no age limits...
As they say “age is just a number.” Please all join in the fun.
I look forward to seeing your “next generation” at a future MOBB event.
Order your Lumber and Building
Material Reference Manuals today!
$15.00 + tax & shipping (member price)
This popular pocket size reference manual was
developed for all building material employees, including sales,
warehouse, purchasing, receiving, etc.
SPANISH VERSION AVAILABLE!
Call us at 405-602-5384 or 1-800-444-1771 to order!
$25
each
Hurry! Get your tickets at a discounted price before the season ends!
Call the OLA office 405-602-5384 or 1-800-444-1771
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2nd Quarter 2015
Why your business should be
a Member of the OLA...
What Does OLA Provide?
Employee Benefits
OLA enhances
the many benefits
of membership
through
professional
communities
and volunteer
leadership
opportunities. It
also protects the
interests of OLA
members through
its national
advocacy and
grassroots efforts.
P.O. Box 950037
Oklahoma City
73195
405-602-5384
800-444-1771
Fax:
405-602-5332
Oklumber.org
• Health Plan Plus – Providing Quality Health, Life, Vision & Dental Coverage. It is Insure Oklahoma (OEPIC) qualified, bringing additional savings to the employer and the employees.
• NFP - Disability, Cancer and Individual Life coverage .
Education
• OLA Building Material Degree Program – Classes began at OSU-OKC Fall
of 2014! Providing qualified employees for OLA Members!
• OLA Scholarship Program – Providing scholarships for students enrolled in the Building Material Degree Program at OSU-OKC.
• Blueprint Reading & Material Estimating Class – Classes are held yearly at the OLA office at a discounted rate thanks to the sponsorship provided by PLM/ILM.
• Webinars – Offered throughout the year on industry related topics
• Product Knowledge – Thanks to the OLA MOBB we are now setting up tours
complete with product knowledge sessions!
Grass Roots– thanks to the efforts of the OLA Legislative Committee
• Bogus Checks - OLA presented a bill that was passed into law that allows
bogus checks taken on account to be processed the same as at point of sale.
• Lien Laws – OLA successfully changed the Lien Laws in Oklahoma and this
year we are fighting to defend those changes. Published a lien law manual
complete with DVD.
• ISFA - Innocent Sellers Fairness Act was passed into Law. Protecting our members from lawsuits, such as mesothelioma.
• Depart. of Agriculture – we were instrumental in getting the fines reduced
that are associated with the bin tag audits.
• Sales Tax Code – OLA was successful in exempting lumber yards from the
estimated sales tax payments. Instead, lumber yards pay all of their sales tax
from the prior month.
• Dept. of Consumer Credit - Lumber yards have been exempted from notification filing fees to engage in consumer credit sales.
• Propane Permits – permits are no longer required if you just only propane
parts and appliances.
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Adding More to Your Bottom Line
“Every man
• Credit Card Processing – Nationwide Payments has saved participating OLA
owes part of his
members up to 80% on their processing fees! NO sign up fees or penalty for
early termination with required notification.
time & money
• Discounted Supplies – OLA provides discounted prices on Powr Ladders,
to the business
custom printed invoices, sales tickets, envelopes, carpenter pencils and MORE!
or industry to
which he is
National Advocacy
• NLBMDA – The strongest advocate for the building material industry, workengaged. No
ing to educate policy makers, and protect the building material industry from
man has a
harmful legislation.
moral right to
withhold his
Networking
Tap into some of the best minds in the industry – your peers!
support from an
• Annual Meetings & Events – Join us at any of our District Meetings, organization
2016 Summer Fling at the Sequoyah State Park, Annual MOBB Fun Run, Fall
within his
Golf Tournament, or our annual Christmas Party!
• Great Ideas – Meet with colleagues and content leaders to share fresh ideas, sphere.”
-Pres. Theodore
Roosevelt
rejuvenate your creativity, and explore key concepts that you can implement
back in your business.
• MOBB (Move Over Baby Boomers)…..the next generation of building mate
rial dealers and associates that have a passion & purpose for the industry. The
group’s focus is on leadership, education and networking.
As the OLA Membership Chairman, I would like to take this opportunity to personally invite those of you that aren’t current members, to join the leading association for the lumber industry in the
State of Oklahoma, the Oklahoma Lumbermen’s Association.
Dusty Hammack
Membership Committee
Chairman
The support of our members makes it possible to provide networking opportunities with the best in the industry, educational programs, and legislative efforts to protect and improve your business.
We hope you take advantage of this opportunity to become involved
in YOUR association to protect the industry that has benefited both
you and the economy.
Please send any leads for possible membership to me or Karen at
the OLA office. [email protected]
2nd Quarter 2015
Page 12
Cash Flow:
The Pulse of your Business
by G. Ann Lee, CPA
Accounting Lifeline
C
ash flow is the lifeblood of any small business.
Some business experts even say that a healthy
cash flow is more important than your business’s ability to deliver its goods and services! While that might
seem counterintuitive, consider this: if you fail to satisfy a customer and lose that customer’s business, you
can always work harder to please the next customer.
If you fail to have enough cash to pay your suppliers,
creditors, or employees, then you’re out of business!
What is Cash Flow?
Cash flow, simply defined, is the movement of
money in and out of your business; these movements
are called inflow and outflow. Inflows for your business primarily come from the sale of goods or services
to your customers but keep in mind that inflow only
occurs when you make a cash sale or collect on receivables. It is the cash that counts! Other examples of
cash inflows are borrowed funds, income derived from
sales of assets, and investment income from interest.
Outflows for your business are generally the result
of paying expenses. Examples of cash outflows include
paying employee wages, purchasing inventory or raw
materials, purchasing fixed assets, operating costs,
paying back loans, and paying taxes.
Note: An accountant is the best person to help you learn
how your cash flow statement works. A tax professional
can prepare your cash flow statement and explain where
the numbers come from. If you need help please contact
the office.
Cash Flow versus Profit
While they might seem similar, profit, and cash
flow are two entirely different concepts, each with
entirely different results. The concept of profit is somewhat broad and only looks at income and expenses
over a certain period, say a fiscal quarter. Profit is a
useful figure for calculating your taxes and reporting to
the IRS.
Cash flow, on the other hand, is a more dynamic
tool focusing on the day-to-day operations of a business owner. It is concerned with the movement of
money in and out of a business. But more important, it
is concerned with the times at which the movement of
the money takes place.
In theory, even profitable companies can go bankrupt. It would take a lot of negligence and total disregard for cash flow, but it is possible. Consider how the
difference between profit and cash flow relate to your
business.
Example: If your retail business bought a $1,000 item
and turned around to sell it for $2,000, then you have
made a $1,000 profit. But what if the buyer of the item
is slow to pay his or her bill, and six months pass before
you collect on the account? Your retail business may still
show a profit, but what about the bills it has to pay during that six-month period? You may not have the cash
to pay the bills despite the profits you earned on the sale.
Furthermore, this cash flow gap may cause you to miss
other profit opportunities, damage your credit rating,
and force you to take out loans and create debt. If this
mistake is repeated enough times, you may go bankrupt.
Analyzing your Cash Flow
The sooner you learn how to manage your cash flow,
the better your chances for survival. Furthermore, you
will be able to protect your company’s short-term reputation as well as position it for long-term success.
T
Page 13
he first step toward taking control of
your company’s cash flow is to analyze
the components that affect the timing of your
cash inflows and outflows. A thorough analysis of these components will reveal problem
areas that lead to cash flow gaps in your business. Narrowing, or even closing, these gaps is
the key to cash flow management.
Some of the more important components to examine are:
• Accounts receivable. Accounts receivable
represent sales that have not yet been collected in the form of cash. An accounts receivable
is created when you sell something to a customer
in return for his or her promise to pay at a later
date. The longer it takes for your customers to pay
on their accounts, the more negative the effect on
your cash flow.
• Credit terms. Credit terms are the time limits you
set for your customers’ promise to pay for their
purchases. Credit terms affect the timing of your
cash inflows. A simple way to improve cash flow is
to get customers to pay their bills more quickly.
• Credit policy. A credit policy is the blueprint you
use when deciding to extend credit to a customer.
The correct credit policy - neither too strict nor too
generous - is crucial for a healthy cash flow.
• Inventory. Inventory describes the extra merchandise or supplies your business keeps on hand
to meet the demands of customers. An excessive
amount of inventory hurts your cash flow by using
up money that could be used for other cash outflows. Too many business owners buy inventory
based on hopes and dreams instead of what they
can realistically sell. Keep your inventory as low as
possible.
• Accounts payable and cash flow. Accounts payable are amounts you owe to your suppliers that are
payable at some point in the near future - “near”
meaning 30 to 90 days. Without payables and trade
credit, you’d have to pay for all goods and services
at the time you purchase them. For optimum cash
flow management, examine your payables schedule.
Some cash flow gaps are created intentionally. For
example, a business may purchase extra inventory to
take advantage of quantity discounts, accelerate cash
outflows to take advantage of significant trade discounts, or spend extra cash to expand its line of business.
For other businesses, cash flow gaps are unavoidable. Take, for example, a company that experiences
seasonal fluctuations in its line of business. This business may normally have cash flow gaps during its slow
season and then later fill the gaps with cash surpluses
from the peak part of its season. Cash flow gaps are often filled by external financing sources. Revolving lines
of credit, bank loans, and trade credit are just a few of
the external financing options available that you may
want to discuss with us.
Monitoring and managing your cash flow is important for the vitality of your business. The first signs
of financial woe appear in your cash flow statement,
giving you time to recognize a forthcoming problem
and plan a strategy to deal with it. Furthermore, with
periodic cash flow analysis, you can head off those
unpleasant financial glitches by recognizing which aspects of your business have the potential to cause cash
flow gaps.
Make sure your business has adequate funds to cover
day-to-day expenses.
If you need help analyzing and managing your cash
flow more effectively help is just a phone call away.
Page 14
•Nashville & Suburbs
2nd Quarter 2015
(starting point)
To register contact:
Northwestern Lumber
Association
(800) 896-5134
•McKenzie
• Jackson
•Ripley
•Memphis
(optional ending point)
•Nashville
(optional ending point)
Sunday thru Friday
October 4 - 9
Rates:
Price Includes:
Late Rate Fee - After June 30th
• Five hotel rooms (Sun-Thurs)
• Access to five industry related
tours/professionals
• Five breakfasts (Mon-Fri)
• Lunch OR dinner each day (Sun-Thurs)
• Nashville Nights and Lights Tour Ticket
• Graceland Platinum Tour Ticket
• Memphis River Boat Ticket
• Coach bus transportation
• Souvenir apparel
• Snacks and beverages on the bus
SINGLE PRICING (1 PERSON): $1750.00
COUPLE PRICING (2 PEOPLE): $3000.00
**AIRFARE IS NOT INCLUDED AND MUST BE BOOKED
INDIVIDUALLY BY EACH GUEST. ANY PRE OR POST
HOTEL ROOMS (IF COMING EARLY OR STAYING AFTER
TOUR) MUST ALSO BE BOOKED BY EACH GUEST.
REGISTER BY JUNE 30TH
AND SAVE!
Early Bird Rate Fee - Prior to June 30th
SINGLE PRICING (1 PERSON): $1650.00
COUPLE PRICING (2 PEOPLE): $2800.00
Page 15
Tyson “Ty”
Russell Bockus
7 lbs 15 oz
Born May 8th, 2015
to proud parents
Hank & Marie Bockus
Gordon White Lumber, OKC
Grandson of
Henry & Teresa Bockus
A BOUT
For more
information about
Women in
Lumber Leadership
or the upcoming
conference visit
www.gocsa.com
A groundbreaking learning and networking
experience... exploring the unique challenges
of women working in a male-dominated industry.
TH E
C OLLABORATIVE
...
The lumber industry has long been known
as a “man’s world.” As more women enter
the industry as owners, managers and
supervisors, we recognize a growing call to
focus leadership on issues specific to
women and what it means to be an
industry pioneer.
In response to this call, the first Women in Lumber Leadership
Collaborative was born. Starting in September 2015, you have a
unique opportunity to join a group of female colleagues on a
three-year journey to not only come to know yourself as a leader
but to develop strategies for increasing your management skills
as well as your ability to influence others.
We invite you to join a group of women committed to creating a
learning community of leaders in the lumber industry—working
together to enhance the ability to be successful in work and life.
Learn how to meet challenges of leadership, managing
others, and work-life balance
Gain better insight into your own strengths and
leadership abilities
Develop solid, practical strategies for improving your
leadership skills
September 22 – 25, 2015
Forrest Hills Mountain Resort
& Conference Center
Dahlonega, Georgia
Enhance your ability to influence others
Increase personal presence and the ability to speak
and be heard
Gain the ability to engage effectively in conflict, healthy
competition and authentic collaboration
Build a community of women to support each
participant in her work
Page 16
2nd Quarter 2012
Thank you to Cedar
Creek for inviting us
to your evening at the
Dodgers game!
Brooke Tollett, OLA
Kelly Schnoebelen, W.W. Starr Lumber
& Dannie Smith, Cedar Creek
Mike Ramsey, Cedar Creek
Jonathan Kennedy, T.H. Rogers (left)
Reid & Tammy Poyer,
Salt River Wood
Page 17
Like us on
facebook!
Stay up-todate with
upcoming
events &
important
information!
DONATE TO THE SCHOLARSHIP FUND
We are now accepting contributions for the 2015 Scholarship Fund. Funds will be used as scholarships for students enrolled in the OLA Building Material Degree Program at OSU-OKC.
Please call the OLA office for more information at 405-602-5384 or mail your contribution to
P.O. Box 950037, Oklahoma City, OK 73195.
Thank you for your support!
2nd Quarter 2015
Page 18
Welcome our newest 2015 Directors
OLA President Rich Bass presents the
2015 District 2 Director plaque to Tyler DeWitt
with Mead Lumber in Ada, Okla.
OLA President, Rich Bass, presents the
2015 Associate Director plaque to Bruce Kulzer
with Cedar Creek in Oklahoma City, Okla.
Fall Golf Tournament
Tuesday, October 27th
10:00am
Oak Tree Country Club
Edmond, OK
More info coming soon!
Page 19
Page 20
2nd Quarter 2015
Calendar of Events
August 6
October 13
October 27
2015
Mobb Event @ TopGolf OKC
Health Plan Meeting—OLA Office
Fall Golf Tournament - Oak Tree, Edmond
December 12 Members & Board Meeting-- OLA Office
2015 Christmas Party
The Devon Energy Center, OKC
June 10-12
Devon Tower, OKC
2016
Summer Fling
Sequoyah State Park Lodge
Oklahoma Lumbermen’s Association
P.O. Box 950037
Oklahoma City, OK 73195
405-602-5384
1-800-444-1771
1947!
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Sequoyah State Park Lodge, Wagoner