Greater Valley Chamber Business Matters

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Volume 15, Number 1
• A Publication of The Greater Valley Chamber Of Commerce •
January/February 2007
Leadership Greater Valley 2006 Graduates 14
The Greater Valley Chamber of Commerce, the
Valley United Way and the Valley Council of Health
& Human Service Organizations (VCHHSO) are
pleased to announce the following met all the criteria
and have graduated from Leadership Greater Valley
2006 at a ceremony at the Yale Gilder Boat House in
Derby on Thursday, November 16, 2006.
The members of the Class of 2006 are:
Kathy Carey, Ansonia Public Schools; Joseph
Welsh, Aquarion Water Company of Connecticut; Carla Supersano Sullivan, Barnum Financial Group an Office of MetLife; Maureen
Wilkinson, Carey & Guarrera Real Estate; Jennifer Trcka, Courtyard by Marriott; Peter Tol-
mei, Derby Cellular Products Inc.; Tammee
Gardiner, Girl Scouts Connecticut Trails;
Bernadine Venditto, Junior Achievement of
Western CT-Valley; Michael Lanzaro, Lanzaro
CPA LLC; Timothy Gugino, OCI Chemical
Corporation; Mary Jane Paris, Positive Impact
Consulting Services LLC; Paula Pires, Sikorsky
FCU; Gregorio Lord, United Illuminating; and
Mike Vickerelli, Vickerelli Real Estate Services.
Ron Poehailos, of Prospect, a Leadership
Greater Valley 2003 graduate and planning committee co-chair, served as emcee for the ceremony. In addition, Representative Richard Belden,
LGV2006 Graduates proudly display their certificates.
(Continued on page 5)
2006 Grant “WINners” Announced Improving the Bottom Line Through
WIN Launches Fund with Valley Community Foundation
Employee Health and Wellness
Two Valley women are sharing the
spotlight as the winners of the third annual Greater Valley Chamber Women in
Networking (WIN) Entrepreneurial
Grant program: Mary Jane Paris of Shelton, owner of Positive Impact Consulting
Services, LLC; a consulting business that
specializes in seminars to build and
strengthen leadership skills for front-line
managers, supervisors, team leaders and
employees; and Therese Kennett of
(Continued on page 5)
Grant Committee and 2006 recipients.
O F
G R E A T E R
C O M M E R C E
Members on the Move......2
Members Spotlights............4
Calendar of Events..............6
W I N T E R ’ S
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New Members......................9
Please pass me along to:
as they reveal innovative ways to
improve the company bottom line.
Typically designed by a consultant group with experience in
the field, these programs can have
a wide range of concepts and
services. Some employers begin
with a limited program to test the
waters with employee interest,
participation and compliance.
If the concepts are favorably
(Continued on page 5)
Curtiss❋Ryan HONDA
Inside This Issue:
T H E
The past decade or so has seen
many new developments holding
great promise for individual and
family health and wellness. Employers are now seeing this new
wealth of information as it translates into the field of employee
health, and therein, the connection
to absenteeism costs and overall
worker productivity. With this in
mind, Employee Wellness Programs are increasing in importance
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2
January/February 2007
greatervalleychamber.com
Members
on the
At CQIA’s Annual Banquet in October, The Kennedy
Center, Basement Systems Inc, Connecticut Light &
Power, Health Net of the Northeast, Inc. Pitney Bowes
and Sacred Heart University received 2006 Connecticut
Quality Improvement Award Innovation Prizes.
Debbie Lewis, Supervisor of Administrative Services
th
e
ASK expert
2006 CQIA award recipients.
at Health Net, presents a $1,000 donation to Martin D.
Schwartz, President and CEO of The Kennedy Center,
as part of its major sponsorship of the Dinner at Far Mill
in Shelton.This benefit dinner for The Kennedy Center’s
Senior Options Program raised a total of $9,000. This
first-time event featured a mouthwatering, five-course
gourmet dinner, silent auction/raffle and strolling musicians. Sam Baytar of Gourmet Express, who covered the
cost of the entire dinner, and Health Net were the major
sponsors of the evening.
Lawyers from Carmody & Torrance LLP served as
panelists for a forum entitled The New World of Electronic Communications. The program included an
overview of new federal laws that went into effect in
December 2006 regarding the handling of electronically stored and communicated information.
Visiting Nurse Association of South Central Connecticut announced that it has been named to the
2006 HomeCare Elite, the inaugural compilation of
the most successful home care providers in the coun-
Health Net presents check to the Kennedy Center.
try. This ground-breaking review names the
Medicare-certified agencies whose performance
measures the quality, improvement and financial performance are among the top 25% of providers nationwide. Additionally, the 2006 HomeCare Elite
(Continued on page 8)
BUY-SELL AGREEMENTS:
THE LEGAL PROTECTION YOU NEED BEFOREHAND
Planning ahead of time is the key to
avoiding costly legal fees and loss of
bargaining advantage. Dealing with
various contingencies before they arise
will protect the parties entering into a
business partnership. Regardless of the
harmonious relationship with business
partners, the Buy-Sell Agreement will
help to define terms before any potential issues arise. This Agreement is a
binding contract between business
partners or shareholders regarding the
future ownership of the business.
Why is a Buy-Sell Agreement
Necessary?
Whenever there are two or more
owners of a business, there are events
that may require one owner to sell his
ownership interest. When one person
goes bankrupt and is forced to liquidate
or becomes incapacitated or dies, the
question arises of how to sell this business partner’s interest and how the
interest is valued. The agreement
ensures continuity of ownership in the
business and fair treatment for both the
buyer and the seller. These issues are
easier to address when everyone is getting along in the business formation
stage, rather than at a time when the
partners have opposing interests. The
solution is a carefully worded contract,
typically called a Buy-Sell Agreement.
What does a Buy-Sell Agreement Contain?
A Buy-Sell Agreement should be
carefully drafted, as it is the precedent
for what may come. When a Buy-Sell
Agreement encompasses the parties’
negotiated consensus, all parties are protected.The sections below provide some
factors to consider when consulting a
legal professional regarding a Buy-Sell
Agreement.
What events will trigger a buyout?
The Agreement instructs the parties as to which events trigger a buy
out of a partner’s interest. The common events are:
• An attractive offer from an out-
sider to purchase a partner’s interest
in the company,
• A divorce settlement in which a
partner’s ex-spouse is entitled to
receive an ownership interst in the
company,
• The foreclosure of debt secured
by an ownership interest,
• The personal bankruptcy of a
partner, or
• The disability, death, or incapacity of a partner.
Who can buy a departing partner’s
or shareholder’s share of the business
(this may include outsiders or be limited to other partners/shareholders)?
• Cross-Purchase Agreement: In
this type of Agreement, a withdrawing owner agrees to sell his interest
to the remaining owners. This type
of agreement works well in a closelyheld small business.
• Entity-Purchase Agreement: In
this type of Agreement, the withdrawing owner agrees to sell his interest to
the entity. The entity then dissolves the
ownership interest or redistributes it
among the remaining owners.
• Hybrid Agreement: This Agreement is a combination of the first two.
The withdrawing owner must first offer
his ownership interest to the entity. If
the entity declines or is unable to make
the purchase, then the shares must be
offered to the other owners.
What price will be paid for a partner’s or shareholder’s interest in the
partnership?
There are a number of different
methods of valuing a business interest. Most individuals have a difficult
time agreeing on a set method. If
this method is not set beforehand,
each party may favor the formula
that saves or earns the most money
for their respective interests. This is
why the formula for determining a
price is one of the vital parts of a
Buy-Sell Agreement and should be
(Continued on page 10)
January/February 2007
greatervalleychamber.com
3
Dear Chamber Members and Friends:
Greetings of the New Year!
In her recent Inaugural Address, Governor M. Jodi Rell characterized the State of Connecticut as being “At
a crossroads – a crossroads of needed economic, social, cultural and educational change. A crossroads crying out for our
leadership and our inspiration.”
As we begin the New Year, we once again turn to you, our valued members, to provide your leadership and
inspiration to confront the challenges and capitalize on the many opportunities that we face here in our beloved
Valley region of Connecticut.
Working together as members of this voluntary business association, we can and must lend our voices to the state-wide issues of competitiveness that the Governor and others have identified; energy, healthcare, taxation and job creation, while
Sincerely,
harnessing our collective talents and resources to solve those problems that are unique to our region.
In 2007, the Chamber pledges to continue to serve as a trusted advocate and resource to our member businesses and will remain true to our mission of Advancing the Regional Agenda Through Business Leadership.
With your continued support and active involvement, we can help to shape a Connecticut (and a ValWilliam E. Purcell, CCE, CAE
ley) that the Governor asserts is “ Yet to be, and that must be – a place of opportunity where every person has the
President
chance to chart their own course, by the integrity of their own heart.”
Griffin Hospital is a great place…
To Receive Care
Griffin Hospital combines industry leading patient satisfaction scores and outstanding
clinical outcomes to create a truly exceptional patient experience. Griffin recently received a
“Best Acute Care Hospitals Award” from Total Benchmark Solution LLC for the care provided
to heart attack, heart failure, and pneumonia patients, ranking the hospital in the top 20 of all
U.S. hospitals.
To Work
Griffin Hospital was ranked #4 on the FORTUNE magazine list of “100 Best Companies
to Work for” in 2006 -- the highest ranking ever for a hospital! More good news:
Griffin now has several exciting opportunities in nursing (intensive care, childbirth, OR,
ER, med/surg, and more), physical therapy, and several other clinical departments.
To Volunteer
Griffin relies on its dedicated, caring volunteers to help bring the Planetree model of care
to our patients. New volunteers are always welcome to help with our Ambassador, Baking,
Soft Touch, and Vital Patient Stories programs.
To Be
Offering a healing environment and an unparalleled commitment to continually
improving the healthcare experience, Griffin is truly a great place to be…
for patients, healthcare professionals, and volunteers.
You owe it to yourself to find out more about Griffin’s patient-centered, Planetree model of care.
For more information on career and volunteer opportunities at Griffin, or to learn more about
our comprehensive healthcare services and expert medical staff, call Griffin Hospital InfoSource
at 203.732.7241 or visit the Griffin website at griffinhealth.org.
Griffin Hospital
130 Division Street
Griffin Hospital…changing the face of healthcare.
Derby, CT 06418-9965
4
January/February 2007
greatervalleychamber.com
Member Spotlights
Gold Coast
Refrigeration Service
Cruise Planners
Contact: Brian Powell
11 Greenwood Circle
Seymour, CT 06483
Phone: (203)888-5532
www.goldcoast-refrigeration.com
Contact: Virginia DeDad
65 Independence Drive
Shelton, CT 06484
Phone: (203)402-0632
www.royalservicecruises.com
Cruise Planners, a licensed, bonded, and insured agency, specializes
in helping you decide what cruise best fits your personal needs. With a
reputation for quality, service, and competitive pricing, their goal is to
work extremely hard to ensure that your cruise experience meets your
needs and exceeds your expectations. Plus, as an independent franchise
owner, Virginia is able to offer amenities such as upgrades, early
embarkation and double American Express Bonus Points usually not
offered to smaller organizations. Whether you are a first time cruiser or
have sailed the seven seas, give Cruise Planners the opportunity to
exceed your expectations!
Positive Impact Counseling
Service LLC
Gold Coast Refrigeration Service a locally owned and operated
HVAC/R Service Company offering affordable high quality service!
With over 15 years of commercial and industrial experience, Brian
offers a expert residential, commercial and industrial HVAC Service,
Maintenance Contracts & Installation Service – including a one-year
warranty on all repairs. In addition, Gold Coast has a wide variety of
other products such as walk-in coolers, freezers and ice machines available. Brian’s goal is to save his customers money by servicing their
equipment on a regularly scheduled basis to keep it running at optimum
efficiency and reduce product loss.
WilliamPitt/Sotheby’s
Real Estate
Contact: Mary Jane Paris
282 Pheasant Glen
Shelton, CT 06484
Phone: (203)929-6702
Contact: William Fay
481 Oxford Road
Oxford, CT 06478
Phone: (203)888-5533
www.posimpact.net
www.williampittsir.com
Established in March 2006, Positive Impact Consulting Services specializes
in the design and delivery of leadership and professional development programs, workshops, project management and event planning services. Mary Jane
(MJ) Paris brings a broad base of experience in management, leadership and
employee development gained from more than 25 years in sales management,
retail banking, training, recruiting, project management, event planning and
community leadership. Her common sense approach and practical experience
combined with her dynamic presentation skills provide a solid foundation for
helping businesses and organizations address people development challenges,
create a positive work climate and improve business results.
William Pitt/Sotheby’s Real Estate is one of the area’s leading full service real estate companies. Their agents are highly specialized in the local
market to bring top service and top dollar to each client. They offer a high
level of service to their buyers and sellers by providing an honest approach
to each transaction and standing by their responsibilities as licensed real
estate agents. As a part of the Sotheby’s International Realty brand they
offer their sellers a discerning audience and their buyers an exclusive selection of properties, in the market area and around the world.
(Photos by Fred Ortoli Photography)
January/February 2007
greatervalleychamber.com
Improving the Bottom Line—
(Continued from page 1)
received and benefits are realized early on,
a more comprehensive program normally
is later developed for the workforce.
These programs can cover any number
of segments and topics such as stress, toxins in the home, proper rest including
how to develop better sleep habits, exercise, and so on. The one topic that consistently shows the most immediate and
long range benefit to employee health is
nutrition. Strict diets have long demonstrated that abrupt and significant change
is difficult to maintain. However, Wellness Programs that emphasize more subtle lifestyle changes in diet, reinforced by
well scientifically researched and tested
supplementation, are demonstrating the
quickest and longest employee health
benefits, and commensurate employer
cost recovery returns.
In 1994 federal legislation was passed overwhelmingly in both houses,
called the Dietary Supplement Health
and Education Act. The preamble of
this legislation states in part:
• The importance of nutrition and
the benefits of dietary supplements to
health promotion and disease prevention have been documented increasingly in scientific studies;
• There is a link between the ingestion of certain nutrients of dietary supplements and the prevention of chronic diseases such as cancer, heart disease
and osteoporosis;
• Preventative health measures, including education, good nutrition and
appropriate use of safe nutritional supplements will limit the incidence of
chronic diseases, and reduce long-term
health care expenditures
There has always been some confusion
around what to take. The Swiss scientist
Paracelsus, 1493-1541, the father of today’s
pharmacology, said “All that man needs for
health and healing can be found in nature.
It is the task of science to find it.” However, today’s modern farming techniques in
our country have stripped many of these
nutrients that have long been accepted as
essential to health and healing. Therefore,
proper education now is more important
than ever before in this area. Even the
American Medical Association advised its
member doctors of the importance for
their patients to supplant these missing
nutrients back into their diets in the form
of supplementation. Hippocrates said it
best – “Let your food be your medicine and
your medicine be your food.” Therefore,
any Wellness Program must have, at its
very core, a foundation of knowledge of the
nutrients that are required to improve, and
then maintain, proper health and recovery
from illness. More simply put, what we eat,
we create.
Dennis Bollier is Founder and President of The Wellness Group, which is an
alliance of professionals that are educating
individuals and companies in the field of
Optimal Health and Well-being. The
group can be reached at 203 387 5640.
5
Leadership Greater Valley—
(Continued from page 1)
William Purcell, Greater Valley Chamber
of Commerce, Jack Walsh, Valley United
Way, and Suzanne Reilly, president of the
Valley Council of Health & Human Service Organizations presided over the presentation of the graduate certificates.
Several members of the Leadership
Greater Valley Class of 2006 along with
other Leadership Alumni are also
organizing a group community service
project. The graduates will be hosting a
fundraiser supporting area youth. The
event, Dancing with the Valley Stars,
will be taking place on April 28, 2007.
Leadership Greater Valley is a personal and career development program de-
signed to more fully develop future leaders who aspire to roles of responsibility in
professional, civic and community organizations. During eight informationpacked sessions, Leadership Greater Valley participants were given a comprehensive overview of the economic, social and
political challenges facing the Naugatuck
River Valley. In addition, they were introduced to the theories and practices of
leadership through academic workshops,
panel discussions, site visits and team
building exercises.
For more information or to be
placed on the nomination list for
Leadership Greater Valley 2007,
scheduled to start on Thursday, September 20th, please call 203.925.4981.
1000 Bridgeport Ave
Shelton, CT
203-926-2080
flyers • brochures • newsletters • business card design
FITZPATRICK’S
ANSONIA ~ SINCE 1923
JEEP
CHRYSLER
YOUR FIVE STAR DEALER
2007
SS
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2006 Grant “WINners”—
(Continued from page 1)
Oxford, owner of R-Way Signs, a display sign company. Each woman was
presented with a $500 grant during the
holiday luncheon of the WIN group on
at Homewood Suites by Hilton. The
grant is distributed from funds received
from WIN membership dues and
fundraisers organized by the group.
“We are pleased to continue the legacy
of awarding annual grants to well-qualified entrepreneurial women in the Valley,”
said Jennifer Bull, chair of the WIN group
and Manager at Dworken Hillman
LaMorte & Sterczala PC. “For the sec-
ond year in a row, our Almost Autumn
Wine Tasting at Jones Winery raised
thousands of dollars. Excess funds from
this year’s highly successful event are being
used as seed money to start a new named
fund affiliated with the Valley Community Foundation.”
This grant-in-aid program provides financial assistance to women
18 years or age or older in the Greater Valley area in the towns of Ansonia, Beacon Falls, Derby, Oxford,
Seymour and Shelton. Since its inception, WIN has donated a total of
$6,500 to the grant program.
430 EAST MAIN STREET
ANSONIA, CT 06401
www.fitzpatrickchryslerjeep.com
LOCAL: 203-734-3318
OR 1-800-889-6366
SERVICE: 203-735-3391
6
January/February 2007
greatervalleychamber.com
JANUARY
Sunday
Monday
Tuesday
Wednesday
Thursday
The meeting schedules are as follows: Alliance
Leads Group meets 1st and 3rd Thursdays at 8:00
am; $80 annual dues; Membership Contact: Adam
Giordano (203)732-3500. Business Builders meets
1st and 3rd Thursdays at 8:00 am; $80 annual dues;
Membership Contact: Tony Agosto (203)924-6845.
Seeds to Leads (S2L) meets the 2nd & 4th Wednesday at 7:45 am; $80 annual dues; Membership Contact: Kyle Schwartz (877)336-6655. Valley Business
Network (VBN) meets the 1st and 3rd Wednesday
at 8:15 am; $125 annual dues; Membership Contact:
Chris Marcucio (203)382-1111. Women In Networking (WIN) meets the 2nd & 4th Tuesday at
8:45 am; $80 annual dues; Membership Contact:
Lorraine Kuehn Bellico (203)877-1000.
Schedules or locations may change. Please go to
www.greatervalleychamber.com on-line calendar to confirm these meeting dates and locations. Membership in the
Greater Valley Chamber is required to join any of the networking groups. Only one member in each profession or specialty in a group, unless otherwise agreed upon by existing
member and a company can only belong to one group.
712
21
31
41
512
612
812
91
10
11
12
13
12
19
12
20
12
WIN
8:45 am
14
12
15
12
Holiday
Office
Closed
21
12
22
12
16
Let’s Talk
Trash!
8:30 am
213
WIN
8:45 am
28
12
Saturday
112
Alliance
Leads
8:00 am
Business
Builders
8:00 am
Opportunities for Involvement
FIVE PROFESSIONAL
NETWORKING GROUPS
New Business is the lifeblood of any company. To
facilitate your opportunities to expand your business,
the Greater Valley Chamber of Commerce offers
five professional networking groups to help you
make connections and help your business grow. All
groups meet at the Valley Chamber of Commerce
offices at 900 Bridgeport Avenue, Shelton 2nd floor,
Wachovia Bank building. Please contact the member contact prior to attending a meeting.
Friday
29
12
310
Seeds to
Leads
7:45 am
17
Coffee
Chat
8:30 am
18
Alliance
Leads
8:00 am
Business
Builders
8:00 am
VBN
8:15 am
214
26
12
215
Seeds
to Leads
7:45 am
Health
Care
Council
8:15 am
Board
Meeting
8:30 am
27
12
HR
Forum
8:00 am
311
Marketing
Council
8:00 am
TONGUE IN CHEEK DEPARTMENT
HOW TO AVOID BUSINESS OPPORTUNITIES:
TEN STEPS TO CERTAIN FAILURE
There are a great many books, courses
and articles aimed at consultants on
securing new business. The problem
many of us face—particularly in marketing and PR—is that most of the requests
we get are opportunities to give away our
services for free!
We are not saying there are not just causes coming in from business associations,
community activities and social service agen-
cies. But we soon get overwhelmed with
requests and with unpaid work assignments.
What is needed is a list of ways to avoid
such business opportunities! Unfortunately
in practicing them we give up paid gigs as
well. However, if one finds himself overcommitted to unpaid assignments it may
well be worth the lack of effort.
1. Drop all association memberships. Cutting off these connections is
January/February 2007
greatervalleychamber.com
7
FEBRUARY
Sunday
Monday
Tuesday
Wednesday
Thursday
112
Alliance
Leads
8:00 am
Business
Builders
8:00 am
412
512
612
712
812
Friday
212
912
Saturday
312
10
12
VBN
8:15 am
HEALTH CARE COUNCIL
Comprised of individuals and companies in the
Health Care Industry including medical, insurance
and care services, the Health Care Council is a committee of the Chamber with a purpose to educate
members, the business community, consumers, and
government representatives on ways to reduce
employee absenteeism costs, increase worker produc(Continued on page 11)
11
12
12
13
12
14
12
WIN
8:45 am
18
12
19
12
20
12
Seeds to
Leads
7:45 am
21
12
VBN
8:15 am
25
12
26
12
27
12
Alliance
Leads
8:00 am
Business
Builders
8:00 am
22
12
16
12
17
12
Health
Care
Council
8:15 am
23
12
Board
Meeting
8:30 am
28
12
WIN
8:45 am
the first step to non-success.
2. Avoid social events where business
people are present. This will help keep
you out of the loop.
3. Take on a few volunteer assignments,
then don’t do them. Let the word go forth
that you are not a do-gooder.
4. Burn your business cards, trash your
Web site, turn you marketing materials into
cat litter. That way only a few felines will
15
12
Seeds to
Leads
7:45 am
ever see your name in print.
5. Never return a call from the media.
In that way you will not be perceived as
expert in anything.
6. Never issue a news release. That
way the media definitely won’t call and
you won’t be bothered by those who see
your announcements.
7. Don’t advertise your services. Not
advertising is a surefire way to avoid any
HR
Forum
8:00 am
24
12
Tuesday, January 16, 2007 – 8:30 am
Let’s Talk Trash!
Quality Environmental LLC
invites you to this special Business Connections seminar on
Trash & Recycling. Overview:
Where does your trash really go?
What are the issues with local landfills and how recycling
impacts all of us. Speaker: Kim Saldamarco, President,
Quality Environmental, LLC., with special guest: Robert
Eisner, Connecticut Department of Environmental Protection Solid Waste Division. Kim has spent the last 21
years in the environmental industry expanding her services to the trash and recycling needs of businesses in the
Northeast. Kim’s background includes a bachelor’s in
Criminal Justice, 40 Hour Hazwopper training, a certified
OSHA Trainer and certified solid waste consultant. Kim
is an affiliate of a national environmental company providing cost reduction services for her clients.
Please note: Business Connections Seminar offers do not
constitute an endorsement, either implied or explicit, of the
product or service by the Greater Valley Chamber of Commerce. If you are interested in hosting a Business Connections No Fee, Educational, No Sales Pitch Seminar, please
contact Laura at 203-925-4981.
opportunities coming your way.
8. Stop making group presentations.
This only encourages follow up calls
from attendees.
9. Don’t join a leads group. The last
thing you need are others in the workplace finding you new opportunities.
10. Never attend business meetings. This will ensure that people will
forget all about you.
Not convinced that these ideas will bring
you the lack of success you want? Try them
and see. Better yet, if you are actually seeking
new prospects, reverse each one.
Martin Arnold PR and Marketing
Communication can be reached by e mail
at [email protected]. Martin is a
long time chamber member and Director; PR practitioner and communications instructor at UConn.
8
January/February 2007
greatervalleychamber.com
Office Supplies
Furniture
Village Office
Supply & Furniture
Welcome Back!
Member Renewals from October 17, 2006 - December 31, 2006
Accounting Services
G Lloyd Major CPA
Nishball Carp Niedermeier
Pacowta & Co
Accounting Services
Audit & Tax Services
Lanzaro CPA LLC
Accounting Services
Payroll Processing
Paychex
Ad Specialties
Al-Lynn Sales
Ad Specialties
Promotional Products
AD-MERICA Corporation
Advertising Agencies
Graphic Design
Visual Transformations
Aircraft
Service/Maintenance
Keystone Aviation Services
Appliance
Sales & Service
Jeff’s Appliance Inc
Architects
Fletcher-Thompson Inc
Attorney
Estate Planning
Seymour Law Firm LLC
Automotive
Sales & Service
Dworkin Chevrolet/Mazda
Caterers
Inn At Villa Bianca
Collection Services
Universal Adjustment
Services
Education
College/University
Housatonic
Community College
University of New Haven
Electric Motor Repair
B&J Electric Motor
Repair Company
Employment Agencies
Diversified Employment
Services Inc
Computer
Consultant
Data Designs LLC
Contracting & Sales
Glass
Derby Glass Company
Contractor
Basement Waterproofing
Basement Systems
Contractor
Lighting Energy Specialist
Energy Solutions LLC
Contractor
Remodeling
Decks & Doors LLC
Contractor
Roofing
Nick’s Roofing
Environmental
Education
Kellogg Environmental
Center
Financial Services
AG Edwards & Sons Inc
Mailing Equipment
Service
Hasler Inc
Manufacturing
Combustion Equipment
Hamworthy Peabody
Combustion
Manufacturing
Greeting Cards
Caspari Inc
Manufacturing
Medical Supplies
Centrix Inc
Manufacturing
Tool & Die Makers
G&M Tool Company
Financial Services
Consultant
Kaskie Plude
& Pacowta LLC
Manufacturing
Veterinary Diagnostics
Oxford Science Inc
Financial Services
Mortgage Broker
Traditional Mortgage
of New England Inc
Marketing
Specialty Waxes
Sasol Wax Americas Inc
Hotel
AmeriSuites
Hilton Garden Inn
Contractor
Siding
Janusz Siding Company
Insurance
Health
Chamber Insurance Trust
dba CFR
Media
Newspaper
Connecticut Post
Daycare
3-8 year olds
Julia Day Nursery Inc
Insurance
Liberty Mutual Group
Insurance
Business
Beardsley Brown & Bassett
div of RC Knox
Economic Development
Local & Regional
Shelton Economic
Development Corporation
Insurance
General
Ferguson & McGuire Inc
Steven A Rose Agency
Members
Non-Profit
Area Congregations
Together Inc
Non-Profit
Youth Services
Family & Children’s
Aid/Shelton Safe Hou
Junior Achievement of
Western CT Inc
Party Rentals
Tent/Awning Rentals
Abbey Tent Awning
& Party Rental
Printing
Business Services
FedEx Kinko’s
Public Relations
Marketing
Cutting Edge
Communications
Real Estate
Century 21 Greengarden
Realty Inc
Real Estate
Commercial
Drubner Industrials
Real Estate
Developer
Cuminotto Inc
Great Oak Ridge/Summit
Seymour LLC
Key Development LLC
The DSA Companies
Real Estate
Home Inspection
Pillar to Post Home
Inspections
Real Estate
Property Management
RD Scinto Inc
Real Estate
Residential/Commercial
Action Realty/Bob Pizzi
LLC
Vickerelli Real Estate
Services
Restaurant
Catering
Wellington’s Restaurant
Retail
Garden Center
Marcucio Gardens
Retail
Jeweler
Lewis Jewelers
Retail
Jeweler/Custom Design
Marks of Design LLC
Retail
Liquor Store
White Hills Wine & Spirits
Retail
Lumber/Building
Materials
Oxford Paint & Hardware Inc
Telecommunications
Huntington Organization Inc
Training
Business
Dale Carnegie Training
of Western CT
Travel Agencies
Meeting Planning
E-Z Travel &
Meeting/Event
Planning LLC
Veterinarian
Countryside Veterinary
Hospital LLC
N OT
YET A
MEMBER?
Call Laura Gorman
@ 203-925-4981
to join today
on the
(Continued from page 2)
indicates those providers ranked in the Top
500 of providers nationwide, a subset of the
Top 25%. VNA/SCC was one of only 3
home care agencies in Connecticut to be
included in the list of the Top 500 agencies.
Footwear News Magazine has declared
Hawley Lane Shoes as the Independent
Retailer of 2006. This award was a combination of votes from the magazine editors,
the footwear brands, and people all over
the country. In addition, Dave Levy, coowner of Hawley Lane Shoes, was selected as the 8th most influential person in
the Independent Footwear Retail Industry
as part of Footwear Magazines Power 100.
Naugatuck Valley Community College has
received the gold medallion award from the
National Council for Marketing and Public
Relations for the design of NVCC’s Fall 2006
NVCC award winning design.
continuing education catalog, “Learning.”
January/February 2007
greatervalleychamber.com
Hewitt Health & Rehab
Alysse Dent
45 Maltby Street
Shelton, CT 06484
Phone: (203)924-4671
www.applehealthcare.com
Assisted Living
Nursing Home
Welcome Aboard!
New Members: October 17, 2006 - December 31, 2006
Advantage Business
Systems
Bob Wilson
PO Box 495
Naugatuck, CT 06770
Phone: (203)720-7685
www.advantagebusinesssystems.net
Sales & Service
Business Systems
Referred by: Valley
Business Network
Automatic Data
Processing Inc
Meghan O’ Toole
300 Long Beach Boulevard
Stratford, CT 06615
Phone: (203)345-5078
www.adp.com
Accounting Services
Payroll Processing
Club Ballroom
Michael Stavola
33 Elizabeth Street
Derby, CT 06418
Phone: (203)736-9500
www.clubballroomct.com
Dance Studio
Referred by: Barbara Barclay, Merritt Staffing
Coachman Square
at Woodbridge
Cheryl Keyworth
21 Bradley Road
Woodbridge, CT 06525
Phone: (203)397-7544
www.benchmarkquality.com
Assisted Living
Referred by: Donna Johnson, Diagnostic Radiology
Associates
Conference Direct
Kathleen Caiati
2114 Avalon Gates
Trumbull, CT 06611
Phone: (203)373-9030
www.conferencedirect.com
Travel Agencies Meeting
Planning
First Choice Financial
Dan L’Atrella
2 Trap Falls Road Ste 408
Shelton, CT 06484
Phone: (203)929-9001
www.firstchoicefinancial.net
Financial Services Broker
Referred by: Peter Morandi,
Warner Insurance Group
Gardner Heights
Terri Golec
172 Rocky Rest
Shelton, CT 06484
Phone: (203)929-1481
Assisted Living
Nursing Home
N OT Y E T A M E M B E R ?
Call Laura Gorman @ 203-925-4981 to join today
HSBC Bank USA NA
Kristin J Bures
704 Bridgeport Avenue
Shelton, CT 06484
Phone: (203)929-2357
www.us.hsbc.com
Banking Services
Master Pieces Gallery
Pat Guedes
917 Bridgeport Avenue
Shelton, CT 06484
Phone: (203)225-9144
Retail Arts
NerdsToGo
Kenneth D LeLacheur
85 Benz Street
Ansonia, CT 06401
Phone: (203)736-0031
www.nerdstogo.com
Computers Sales and
Service
JP Maguire Associates Inc
Marc Mitchell CR
266 Brookside Road
Waterbury, CT 06708
Phone: (800)233-8220
www.jpmaguire.com
Contractor Property
Damage Rest
Referred by: Lisa Bisson,
Griffin Hospital
Occupational Medicine
Paychex Inc
Eva Z Metro
800 Connecticut Avenue
Ste 2 North
Norwalk, CT 06854
Phone: (203)838-2888
www.paychex.com
Accounting Services
Payroll Processing
Referred by: Returning
Member
Karsun System Consultants & Associates
J. Anthony Pommills
53 Blueberry Lane
Shelton, CT 06484
Phone: (203)926-9270
www.karsunsystem.com
Consultant Sales & Service
Sagemark Consulting Lincoln Financial
MaryJo Romano
800 Westchester Avenue
Ste S-504
Rye Brook, NY 010573
Phone: (203)257-9208
Financial Services
9
Shelton Lakes
Kevin Gendron
5 Lake Road
Shelton, CT 06484
Phone: (203)924-2635
Assisted Living Nursing Home
Total-balance Life
Choice TLC
Theresa Crisci LMT
35 Indian Neck Avenue
Branford, CT 06405
Phone: (203)494-8846
Wellness
Referred by: Mary Jane Paris,
Positive Impact Consulting
Town Nail & Spa
Kim
709 Bridgeport Avenue
Shelton, CT 06484
Phone: (203)926-6090
Beauty Manicure and Spa
Valley Arts Council
Leslie Adams
900 Bridgeport Avenue
Shelton, CT 06484
Phone: (203)925-4981
www.valleyartscouncil.org
Non-Profit Arts & Culture
Valley Dental Group
Anthony R Salvato DDS
488 Howe Avenue
Shelton, CT 06484
Phone: (203)924-8069
Dentist
Referred by: downtown
Shelton Center
Merchants Group
35th Annual
Gold Seal Awards
Banquet
Presented by People’s Bank
th
e
January/February 2007
greatervalleychamber.com
ASK expert
10
market check of the value by adding goodwill. The
problem with using Fair Market Value as a valuation method, however, is the expense and time
involved in appraising the value. Although this
method may bring more of a fair calculation, there
are still different methods of appraisal. There may
be a need for mediation or arbitration to finalize
any disputes in appraisal.
Formula Approach: A formula may be used to
determine the value of the business interest. This can
be at a fixed, agreed upon formula, such as book value,
plus a certain percentage (e.g. 6 percent). Or it can be
a capitalization of earnings at a fixed percent.This formula takes the average the entity’s annual net earnings
for the most recent years (e.g. the past four years) and
divides this number by the fixed percentage. This
amount is the presumed fair market value for all the
entity’s assets, including goodwill. This fair market
value is then subtracted by the entity’s liabilites. There
are a number of different formulas that can be used to
value a business, and each of these formulas may have
several viable variations based on the inputs of the
business owners.
How do you fund the purchase paid for an interest
in the partnership?
When cash is not available to fund a sale under a
Buy-Sell Agreement, insurance may be used instead.
There may be a cross-purchase agreement, where each
owner takes out life insurance policies on the others’
lives. Once the life insurance policy pays, the surving
BUY-SELL—
(Continued from page 2)
carefully negotiated. Once the parties have agreed to
the formula, it is highly unlikely that it can be successfully challenged in the future. Some common examples of valuing business interests include the following:
Book Value: This is an allocated amount as
recorded in the entity’s accounting records. Therefore, it is not a value that is appraised, but an
amount equal to the various owners’ equities as
calculated by the recorded assets minus the recorded liabilities. It is typically lower than fair market
value (defined below) because it does not account
for a successful business’s most valuable asset, its
goodwill. Goodwill reflects what a market participant would be willing to pay in addition to the
business’s tangible assets because the entity has the
ability to make a higher profit than what is shown
in the accounting records.
Fair Market Value: This value is determined by
an appraisal of the entity based on the recorded
assets and its goodwill. More generally, fair market value is described as what an unrelated willing
buyer would pay to a willing seller. This takes into
account any appreciation in the value of the entity’s recorded assets and allows the seller to have a
owner(s) will use the proceeds to pay the deceased
owner’s estate for his ownership interest. There may
also be an entity-purchase agreement, where the entity itself takes out life insurance on the lives of its owners and the entity is named as the beneficiary of the
policy. The entity can then buy back the decedent’s
ownership interest. Similarly, if a permanent disability
is an event that triggers a buyout, the partners can take
out disability insurance on each other.
A Price Too Big to Pay
Although this article serves as an introduction
to Buy-Sell Agreements, it is important to understand what might happen if business partners do
not have an Agreement in place. There may be
lengthy and expensive court battles and serious
interruptions in your business if one of your partners sells his shares, quits, gets divorced or
becomes incapacitated. The business may be dissolved, or an outsider who is inexperienced or
untrustworthy may share control of your business.
With all of the difficulties you may encounter, ask
yourself whether you are willing to take such a risk
in your personal life and business.
For more information on Buy-Sell Agreements,
contact Christine Hwang at Greenberg and Co. at
(203)225-0200 or by email to [email protected]. Greenberg & Co. is a Connecticut, USA
based law firm, offering both US and International
clients a unique blend of practical knowledge and personalized service.
BUSINESS TO BUSINESS
Support Your
Local Valley
Retailers!
Tel. 732-5991
1730 DERBY-MILFORD RD.
DERBY, CT 06418
TOWN LINE
Health Insurance Premiums Are Rising!!
Have you had a quote lately?
SELF-STORAGE
“The Valley’s Leading Jeweler for
Quality, Service & Distinctive Designs”
176 Main St., Ansonia • 734-1619
APS & GIA Insurance
WE REFILL PROPANE TANKS
LAUREL GRECO VICIDOMINO
VICE PRESIDENT
GUY J. GRECO
PRESIDENT
www.townliness.com
FITZPATRICK’S
ANSONIA
CHRYSLER/JEEP 5 STAR AWARD-WINNER
Call us today. Your employees will thank you.
Tony San Angelo
Brendan Coyne
Tel (203) 735-1823
Ansonia, CT
Tel (203) 389-5011 x16
Woodbridge, CT
Free Estimates
Fully Insured
WE’RE BETTER - WE CAN PROVE IT!
THE MINIVAN/JEEP STORE EAST MAIN ST
734-3318 or
(800) 889-6366
SINCE 1923
430 East Main St, Ansonia
682 S. Main Street, Seymour, CT 06483
(203) 735-5449 Fax (203) 735-9188
TO ADVERTISE ON THESE PAGES CALL (203) 926-2080
January/February 2007
greatervalleychamber.com
UPCOMING EVENTS—
11
2006
Grant
“WINners”
(Continued from page 7)
tivity and reduce overall healthcare costs.
The Health Care Council meets on the
third Friday of each month at 8:15 am.
They also will be hosting a variety of programs and seminars on health issues
affecting you and your staff members
throughout the year.
Jennifer Bull, WIN Chair, presents a check for
starting the WIN Fund to Angela Powers of
the Valley Community Foundation. Also
pictured, David M. Grant, Cara Mocarski,
grant recipients Therese Kennett and Mary
Jane Paris, and Bill Purcell.
MARKETING COUNCIL
You are invited to join us for the Greater Valley Chamber’s NEW Marketing Council.
Comprised of individuals in the creative
services industries such as advertising,
design, public relations, photography, promotional services, etc, this new group will
give you the opportunity to network, brainstorm and learn with others in your industry
a few times a year. All Valley Chamber members involved in this industry area are invited
to join us from larger organizations department managers or employees to sole proprietors. Meetings are held four times annually
on the 5th Wednesday of the appropriate
month at 8:30 am at the Chamber Office.
Amity Observer • Bridgeport News
Easton Courier • Fairfield Today
Hamden Journal • Huntington Herald
Yo u r L o c a l N e w s S o u rc e
Milford Mirror • Monroe Courier
To advertise your business here
Oxford Observer • Shelton Extra
Call 203-926-2080
Stratford Star • Trumbull Times • Valley Gazette
BUSINESS TO BUSINESS
BOARDING
GROOMING
TRAINING
MOBILE GROOMING
HOURS
MON & TUES 8 AM - 6PM
WED 8 AM - 4PM
THURS & FRI 8 AM - 6 PM
SAT 8 AM - 5 PM
SUN 9 AM - 10 AM
AND 4 PM - 6 PM
HOLIDAYS 9 AM - 10 AM
ORONOQUE KENNEL
1 KRAKOW STREET • DERBY, CT 06418
TELEPHONE (203) 735-3624 • FAX: (203) 732-5488
TOLL FREE: 1-800-762-5089
E-MAIL: [email protected]
TRAINING
INDIVIDUAL & GROUP
GLENN & LINDA GROVER
OWNERS
Announcing The Opening Of:
LAW OFFICES OF
Kara Kelly DeRosa
- General Practice of Law Now Located at: 26 Broad St. Milford
701-0783
LITCHFIELD PERSONAL LINES
Insurance Agency
Special Group Discounted
Home & Auto Insurance Rates
for Valley Chamber Members
Scott Ragaini, Sales Associate
(203) 267-2708
E-mail: [email protected]
82H Bennett Square, 7 Poverty Road • Southbury, CT 06488
ATTORNEY SHARON M. JONES
31 Imperial Avenue
Westport, CT 06880
Telephone: (203) 227-8082
e-mail: [email protected]
Fax: (203) 227-8083
1000 Bridgeport Ave • Shelton, CT
203-926-2080
flyers • brochures • newsletters • business card design
TO ADVERTISE ON THESE PAGES CALL (203) 926-2080
12
z
January/February 2007
greatervalleychamber.com
Holiday Party
Presented by Sikorsky FCU at Club Ballroom
Special thanks to all of our members who
attended the 2006 Holiday Party. A total of
$2000 was donated to TEAM’s Valley Toys
for Tots Campaign and the Boys & Girls
Club Holiday Giving Campaign.