FinanceWatchSM
Critical financial information, credible sources
If you are having difficulty seeing this mail or images in it, you can view it in your Web browser.
Volume 6, Issue 3     
In This Issue:

  Why your employees are loosing motivation
  How to adjust your decision-making style
  Do I dare say something?
  Three myths of Management
  Oprah: A case study comes alive
  CFO Whistle-blower still in limbo
  IRS eyeing Executive pay
  Coming distractions
  The people who count
  Money for nothing
  10 key steps in developing an effective Performance Management Strategy
  Bye-Bye Boomers?
  Turning customers into your sales and marketing department
  Confessions of an Entrepreneur’s wife
  The case for Business Continuity Management
  Alliances: How to get desired outcomes
  Leadership Q & A: Finance at the forefront
  Succeeding in the corner office
  Proxy preview
  Handling the office jerk
  Quickie workouts
  Wow’Em like Steve Jobs
  Beyond the annual physical

Get ahead with a BlackBerry Solution
Sure, you probably see our devices in people's hands all the time. But have you ever seen BlackBerry as a solution for your company before? Or maybe you thought it was only for larger businesses.

Truth is, more and more businesses of all sizes are turning to a BlackBerry Solution to quickly gain a competitive advantage.
>> Register to learn more
Register for a chance to win 1 of 8 BlackBerry devices and find exclusive, limited-time BlackBerry offers!

Why Your Employees Are Losing Motivation

Business literature is packed with advice about worker motivation—but sometimes managers are the problem, not the inspiration. Here are seven practices to fire up the troops. From Harvard Management Update.





To maintain an enthusiastic workforce, management must meet all three goals.

A command-and-control style is a sure-fire path to demotivation.
Most companies have it all wrong. They don't have to motivate their employees. They have to stop demotivating them.The great majority of employees are quite enthusiastic when they start a new job. But in about 85 percent of companies, our research finds, employees' morale sharply declines after their first six months—and continues to deteriorate for years afterward. That finding is based on surveys of about 1.2 million employees at 52 primarily Fortune 1000 companies from 2001 through 2004, conducted by Sirota Survey Intelligence (Purchase, New York).The fault lies squarely at the feet of management—both the policies and procedures companies employ in managing their workforces and in the relationships that individual managers establish with their direct reports. Our research shows how individual managers' behaviors and styles are contributing to the problem (see sidebar "How Management Demotivates")—and what they can do to turn this around...
Read the article.  Back to top


How to Adjust Your Decision-Making Style

To move up the ladder, it's important that your method of making decisions develops as you do. This excerpt from Harvard Business Review reports on research drawn from a comprehensive Korn/Ferry International database.





Somewhere between the manager and director levels, executives find that approaches that used to work are no longer so effective.
When we began our research, we expected to find that managers' predominant decision-making styles would change as they progressed through their careers. But the patterns that jumped right out of the data were even more sharply defined than we could have imagined. We found that decision-making profiles do a complete flip over the course of a career: That is, the decision style of a successful CEO is the opposite of a successful first-line supervisor's. In the leadership (or public) mode, we see a steady progression as managers move up in the ranks toward openness, diversity of opinion, and participative decision making, matched by a step-by-step drop in the more directive, command-oriented styles. In the thinking (or private) mode, we see a progression toward the maximizing styles—where an executive prefers to gather a lot of information and think things through—and, at the highest executive levels, an uptick in the styles favoring one course of action. There's a logic as well as an interdependence to the way the two aspects of decision making evolve. As you move up the ladder...
Read the article.  Back to top


Do I Dare Say Something?

Are you afraid to speak up at work? The amount of fear in the modern workplace is just one surprising finding from recent research done by HBS professor Amy Edmondson and her colleague, Professor James Detert from Penn State.





Most surprising to us has been the degree to which fear appears to be a feature of modern work life.
As every company knows, employees are its greatest resource. It's more than a shame, then, that many workers are either not encouraged or afraid to speak up and communicate ideas at work. Employers are losing valuable knowledge and experience, and their companies are weaker for that loss. In a recent working paper, Harvard Business School professor Amy Edmondson and Penn State professor James Detert explored the challenges employees face speaking up to internal authorities. Their research focused on behavior in large, multinational corporations, but the lessons learned can apply to smaller enterprises as well...
Read the article.  Back to top


Three Myths of Management

In a new book, Stanford professors Jeffrey Pfeffer and Robert I. Sutton assail popular yet shaky—maybe even harmful—management practices. Our excerpt starts with a hot trend: benchmarking.





Instead of copying what others do, we ought to copy how they think.

The logic behind the use of options as managerial incentive is flawed once you consider what behaviors are actually rewarded.
The catalogue of poor decision practices is immense, but we focus here on three of the most common and, in our experience, most harmful to companies. Casual benchmarking. There is nothing wrong with learning from others' experience—vicarious learning, as contrasted with direct experience, is an important way for both people and organizations to learn how to navigate a path through the world. After all, it is a lot cheaper and easier to learn from the mistakes, setbacks, and successes of others than to treat every management challenge as something no organization has ever faced before. So benchmarking—using other companies' performance and experience to set standards for your own company—makes a lot of sense. In the end, good or bad performance is defined and measured largely in relation to what others are doing. The problem lies with...
Read the article.  Back to top


Oprah: A Case Study Comes Alive

Writing a business case on the icon of daytime television and chief executive of a major media empire was challenge enough for HBS professor Nancy Koehn and colleagues. Oprah Winfrey's visit to campus to talk with graduating students made it ample reward.





I was interested in what it is about Oprah that business leaders can learn from in the twenty-first century.
                —Nancy Koehn
The best and brightest executives in the world are common visitors to the MBA classrooms at Harvard Business School, giving students a personal opportunity to talk to the likes of Ann Fudge, Lou Gerstner, Meg Whitman, and Jack Welch. Still, when Professor Nancy Koehn introduced her guest on the last day of class this past spring, "everyone did a double take," Koehn recalls. Oprah Winfrey was in the house.How the icon of daytime television and chief executive of a major media empire came to HBS after three years of effort is a story in itself. And what she told students brought them a unique perspective about leaders and leadership in the twenty-first century. "I think she's a great bellwether for the future of business," Koehn says. "Maybe she and her organization are on a path that a lot of leaders and organizations are going to be on."...
Read the article.  Back to top



CFO Whistle-blower Still in Limbo

The Department of Labor's Administrative Review Board has affirmed a judge's order that a bank must rehire a former CFO who was the nation's first Sarbanes-Oxley whistle-blower, but it doesn't seem to have settled the matter. In late 2002, David Welch was fired as chief financial officer of Floyd, Virginia-based Cardinal Bankshares Corp., a 65-employee holding company whose subsidiary is the Bank of Floyd, after he refused to certify his company's financial statements. "When I refused to certify, I was just trying to get the ball rolling on some improvements," Welch told CFO magazine two years ago. The former CFO says he raised concerns about several potential abuses to Cardinal chairman and CEO Leon Moore as early as 2001, but to no avail. Included in those concerns were improper journal entries amounting to $195,000, which led to a 14 percent net income overstatement, alleged Welch. When he escalated the concerns through a series of memos and by withholding his signature from quarterly Securities and Exchange Commission filings for the small bank and its holding company, which trades over the counter, the audit committee...
Read the article.  Back to top


IRS Eyeing Executive Pay

The taxman is focusing closely on executive pay this tax season. Items under scrutiny include family travel, corporate credit card use, and even your company-issued cell phone. The Securities and Exchange Commission isn't the only regulator taking a closer look at executive compensation. The Internal Revenue Service will be scrutinizing executive pay this tax season too, as part of its continuing effort to force more companies to treat fringe benefits as wages for income and employment tax purposes.In 2004, the IRS launched a pilot program to investigate 24 companies already under audit to gauge their level of compliance with executive compensation rules. The test group fared poorly, and, as a result, executive pay became "an area for agents to focus on," says an IRS spokesperson. Since then, the agency has released tax guidance in the form of a 2005 memo called an "audit technique guide," and continues to keep a watchful eye on how companies book executive bonuses and perks. This year is no exception. The IRS won't only be looking at high-profile items, such as stock option expensing and no-cost loans this year. Agents will be looking into more mundane areas, such as...
Read the article.  Back to top


Coming Distractions

If these eight risks are not on your radar screen, they will be soon. Like most CFOs, Paul Reilly is not prone to exaggeration. The finance chief at Melville, New York–based Arrow Electronics Inc., Reilly is by nature a pragmatist — a level-headed, by-the-numbers pragmatist. So when he tells you flat out that, "It's a growing problem; people are not focused on it," you take note. What people are not focused on, according to Reilly, is the massive heap of old computers and motherboards piling up in landfills across the planet — the toxic detritus of the Digital Age. It's a mounting problem — literally — and one that's only now being addressed by government regulators and corporate officers. But as big a concern as E-waste is, it is still only a small byte in the larger risk grid confronting business managers these days. Indeed, Reilly's statement about the looming green peril could just as easily be applied to a host of regulatory red flags and business black holes roiling corporations. And while companies have always faced risks, many finance managers say they can't remember dealing with so many.Research seems to back this up. In a recent survey of executives (mostly CFOs) conducted by consultancy Protiviti, half of the respondents reported that the overall risk level for their employers has gone up substantially in the past two years. What's more, 57 percent of those executives said their employers are not particularly good at identifying risks.That's a high percentage, and one that suggests that risk managers are routinely engaged in a corporate version of Wac-A-Mole. Just as one danger is smacked down, another one pops up. And while no single magazine article could ever chart all the hazards facing corporate managers, the eight risks detailed in the following pages cover a wide range of concerns. As such, they involve a number of key company functions, including accounting, finance, and insurance. Finance chiefs may be aware of a couple of the risks, but it's doubtful any CFO is prepared for all of them. That's why we did this story — as a heads-up. Our matrix was simple. The impact of these risks must be felt within the next 12 months, and the risks themselves must be relatively unknown. Of course, relative is a relative term. We've omitted obvious big-picture concerns like the aging workforce and global competition.Instead, we sought out more-tangible, more-discrete risks: from looming regulatory actions to litigation threats to insurance woes. Generally speaking, it's those sorts of defined dangers that end up bedeviling companies — and agitating even the most even-tempered of CFOs...
Read the article.  Back to top


The People Who Count

It was a classic career path, but with a twist: after spending six years at a midsize CPA firm, John Doherty left to become the controller of a regional bank. From there, he moved on to a division of John Hancock, where he was director of financial reporting. That positioned him to advance in corporate finance to, well, almost anywhere. Yet after a mere six months at Hancock, he leapt at an opportunity to go back to his old CPA firm. A significant jump in salary was one factor. So was the chance to enjoy more-flexible work hours, a greater diversity of work, and the satisfaction of contributing to revenue rather than overhead. "Working at a company, you're constantly watching the bottom line. The stresses of working at a CPA firm relate to client satisfaction, which is easier to manage for me," says Doherty. All over the country similar scenes are playing out as accounting firms large and small sweeten the pot in order to lure or retain employees. The Big Four have doubled their assurance staffs in the past five years and are expected to nearly double them again in the next five, thanks largely to Section 404 of Sarbanes-Oxley. Smaller accounting firms, their client rosters expanding thanks to new rules on auditor independence, are also upping the ante. Add to that a precipitous plunge in the number of accounting degrees granted in the late 1990s and disaffection with corporate finance jobs, and suddenly the labor pool is roiled by a perfect storm, one that CFOs readily admit is difficult to navigate. Nearly half of the CFOs surveyed in late 2005 (see "How CFOs Confront the War for Accounting Talent" at the end of this article) say that it is somewhat or very difficult to hire qualified finance staff. "It's an extremely competitive hiring environment today," says Craig Nickerson, CFO of Dynetech Corp., a privately held business-process outsourcer based in Orlando. After a five-month search, he recently hired a senior staff accountant away from Deloitte & Touche but is still looking for an accounting manager for his 33-person finance team, a position the company expected to fill this spring...
Read the article.  Back to top


Money for Nothing

Barnes Group Inc. isn't used to being fawned over by banks. The $1 billion manufacturer of jet-engine components and engineered springs doesn't even have a credit rating, though CFO William Denninger guesses it would rank at just about the bottom of the investment-grade barrel, BBB or BBB-, if the company went to the expense of buying one. Nonetheless, Denninger has seen what life must be like with a gilt-edged balance sheet. Early this year, he watched Barnes's treasurer, Lawrence O'Brien, emerge from a meeting with the company's 11-lender bank group with a host of improvements to the company's $175 million credit revolver. O'Brien was able to negotiate a 25-basis-point decrease in the borrowing rate, while carrying over a previously negotiated accordion feature that allows the Bristol, Connecticut-based company to raise up to $75 million of new bank commitments under the existing facility. He was able to extend the revolver's maturity by almost 20 months — putting it back to a full five-year term — and increase the company's overall borrowing limit to 4 times EBITDA from 3.25 times. For good measure, O'Brien also won approval for...
Read the article.  Back to top



The 10 Key Steps In Developing An Effective Performance Management Strategy

In a recent issue of The Economist, the magazine points out that "Over the next few years companies may well come to reassess the value of their HR operations and decide that workforce planning and performance management have become sources of competitive advantage... ." Some would say that's already the case. For instance, the United Kingdom's Northumberland Fire and Rescue Authority was praised on January 19, 2006, by government authorities for "making progress in achieving its objectives through its proactive approach to community safety, supported by improvements in its performance management framework to monitor core outcomes." Officials went on to say that the Authority has driven down deaths and injuries from fire to the lowest level in history. To offer more evidence that an investment in performance management pays dividends, consider this...
Read the article.  Back to top


Bye-Bye Boomers?

More Women Choosing Not to Work
A recent report indicates that a growing number of college educated women are opting out of the workforce.
It’s now a matter of time. The baby boomer generation—comprised of nearly 83 million people, according to the U.S. Census Bureau, and getting ever-longer in the tooth—will soon begin filtering out of the workforce. The threat that has long been on the horizon is now knocking at the door: Boomers will be leaving behind the jobs—including many C-level posts—they’ve held for years, taking with them the wealth of experience and knowledge they have accrued.Charged with filling those positions, companies will draw on a pool of workers that, at least in terms of numbers, doesn’t seem capable of replenishing the ranks. The U.S. Bureau of Labor Statistics projects a labor force of 162 million in 2012, and anticipates the economy will require 165 million jobs. Those figures—accounting for factors such as outsourcing and the hiring of newly arriving immigrants—don’t necessarily equal a shortage of 3 million workers, but do pose questions for many U.S. companies. On the whole, “employers simply can’t afford to see this generation retire en masse,” says Roselyn Feinsod, principal at Towers Perrin HR Services in Stamford, Conn., without witnessing significant effects on productivity, the ability to serve customers and, ultimately, the bottom line. The good news for business is that...
Read the article.  Back to top



Turning Customers Into Your Sales and Marketing Department

Average Customer Value
+ Additional Retention Value
+ Additional Price Premium    
= Value of Promoter Customer
One of the most exciting and promising developments in marketing is the emergence of something called Net Promoters as an increasingly critical metric that drives corporate performance. First described by Fred Reichheld two years ago in Harvard Business Review, followed by his recently published book The Ultimate Question, Net Promoters is now being adopted by a growing number of highly respected firms, including General Electric, Intuit, and SAP. What does it do? In a nutshell, it provides simple but very powerful analytical rigor to what is arguably the most important source for spreading positive buzz about a company: its own customers...
Read the article.  Back to top



Confessions of an Entrepreneur's Wife

"A CEO sells everyone. When he asks suppliers for better terms he's also selling them on why they should do it. When he convinces a new hire to join a super-risky venture, he's selling her on the potential the job offers. When he convinces me to stay married to him, he's selling me on the better future we will have together."
She was proud to support her husband's dream of building a great business. But five years is a long time to watch someone focus on his company at the expense of everything--everything--else. We were on vacation at the lake when my husband decided to start a company. Our five-year-old, Lily, was napping, so we had some rare adult time to talk about the opportunity Bill was considering. He wanted to leave his job as general manager for an industrial laundry plant to partner with a guy who had invented a drink that was carbonated but also 100 percent juice. It seemed to Bill like the chance of a lifetime, given that he had worked for a number of entrepreneurial companies before, most notably a few beer businesses. And I agreed. As we aged it would only become harder for him to take a big risk like that. We had some money saved and had recently relocated from Boston to Richmond, Virginia--a pretty affordable town. Why not go for it? I knew what we were in for. I had been a business journalist for a dozen years (five of them on staff at Inc.) and had written countless articles and a couple of books about managing start-ups. My husband was a smart M.B.A. with entrepreneurial drive, I told myself, and I would be the supportive wife with exceptional business sense. In five years, he would sell the company to Coke or Pepsi and cash out. Of course you've already guessed it: I was dead wrong on nearly every count. Neither of us could have predicted the company's surprising trajectory. Watching Bill navigate the entrepreneurial life, I see now just how little I really knew about starting and building a business. In the five years since Bill embarked on his great adventure, I've come to realize the only thing I was right about originally is that my husband is, indeed, a smart M.B.A.--and he has more entrepreneurial drive, much more, than either of us knew...
Read the article.  Back to top



The Case for Business Continuity Management

Globalization, regulatory mandates, and recent natural and man-made disasters have pushed BCM into the C-suite and the boardroom. The debate over whether business continuity management (BCM) is an IT issue or a finance issue is moot: It's both, and then some. True, the discipline grew out of IT's disaster recovery practices, but today BCM is clearly an overarching business concern -- and an increasingly critical one. Prompted by a rising tide of terrorist attacks, natural disasters, and less news-worthy but equally expensive power outages, regulatory bodies and corporate boards are pressing executive teams to expand and strengthen their organiza-tion's resiliency. As a result, more and more finance functions are assuming ownership of enterprise BCM strategies. Regardless of whether finance owns those capabilities, though, CFOs should carefully measure the cost of continuity and determine the level of risk their company is willing to assume. To do so, they must understand the discipline's drivers, investigate emerging BCM frameworks and review their organization's options for fortifying its BCM activities. Bill Teuber brings a unique perspective to BCM. He's CFO and executive vice president of EMC Corp., a Hopkinton, Mass.-based provider of products and services for information storage and management. Teuber and his staff play a key role in managing the company's continuity practices. And Teuber also keeps tabs on customers' BCM capabilities, which EMC's products support. "With business continuity, there is a gap between expectations and reality," says Teuber. "I've seen that here, in other companies and in surveys." A widely circulated 2003 survey conducted by EMC with RoperASW crystallized that disparity. Fifty-two percent of surveyed IT executives in U.S. companies reported that their organization's critical data would be "very vulnerable" in the event of a business interruption. However, only 14 percent of surveyed business executives -- who worked in the same companies as the IT people -- shared that view. The survey also examined respondents' estimates of the time their organization would need to resume normal business operations after an interruption...
Read the article.  Back to top


Alliances: How To Get Desired Outcomes

Alliances represent low-risk growth opportunities -- if the partnering companies know how to manage the relationship effectively. Companies forge alliances with other organizations for a number of reasons, including to develop and market products and services and to take advantage of technology, knowledge or capabilities they do not possess. * However, the real challenge begins once these alliances are in place. By their very nature, alliances are prone to disagreement, misunderstandings and unmet expectations that can lead to conflict. "Alliances are particularly rich in potential problems in matters like the definition of costs, setting up the initial and periodic funding, estimating realistic cash-flow budgets, making major acquisitions, assuming debt, customer relationships, and so on," says Frank MacInnis, chairman and CEO of Emcor Group Inc., a Norwalk, Conn.-based construction and facilities services company. These problems can be particularly challenging because "corporate practices differ from company to company, so these issues must be identified before the alliance is created, and there should be clarity around what decisions can be made and how and by whom," says MacInnis. For example...
Read the article.  Back to top


Leadership Q&A: Finance at the Forefront

Douglas R. Oberhelman, a group president at Peoria, Ill.-based construction and mining equipment manufacturer Caterpillar Inc., was formerly the company's CFO. Oberhelman explains to Business Finance editor Laurie Brannen how a finance background can pave the way to the executive suite.

Laurie Brannen: How did your stint as CFO prepare you to move up in the organization?

Douglas Oberhelman: I served as Caterpillar's CFO for four years. My experience during that time was tremendously valuable to me in several areas. Most notable was the...
Read the article.  Back to top



Succeeding In The Corner Office

At the time, higher pay, increased responsibility, a corner office and an easier commute added up to a dream job and a great career move. Six months and many sleepless nights later, it appears that your values don't mesh with your new company's way of doing business, and that you've made the worst decision of your career. Now what?"Don't be dazzled by higher pay and a chance to move up the corporate ladder when sizing up a job offer," says Barbara Callan-Bogia, founder and principal of Callan Consulting in Framingham, Mass. "I've tracked many executives in new jobs, and the key to success is 'fit'—not competence. You wouldn't have gotten an interview, let alone the job, if the company didn't think you could do the job."...
Read the article.  Back to top


Proxy Preview

Executive pay is always a hot topic. But this time of year, CEO salaries grab even more headlines than usual. As companies begin releasing their proxy statements, shareholders finally learn what top executives made the previous year. Usually, the headlines are easy to write: Executives are making more. But there's another trend this proxy season: Executives are disclosing more. Some companies are divulging more information about executive pay, anticipating new U.S. Securities and Exchange Commission rules that will probably pass later this year. According to a survey by consulting firm Watson Wyatt, 23% of companies plan to adjust their disclosure this year because of the proposed rules. "This is kind of your last time to get a practice run," says Pat McGurn, an executive vice president at Institutional Shareholder Services, an organization that monitors corporate governance and executive pay...
Read the article.  Back to top


Handling The Office Jerk

The pallbearers carried their co-worker's casket down the church steps to the hearse.Mourners whispered their fond memories and expressed an overwhelming sense of loss to friends. A cell phone tucked in one of the pallbearer's pockets played a cheerful tune. He's an important guy, so he took the call. "That's appalling," says Dr. Ken Lloyd, author of Jerks at Work: How to Deal With People Problems and Problem People. "His action told everyone that on many levels he's a jerk." Unfortunately, there's no shortage of jerks. These maddening creatures, including some with real talent, are everywhere. There are jerks in the corner office, jerks in middle management, jerks in computer support and jerks in the next cubicle. Jerks can be male or female, young or old. An education doesn't inoculate one against jerkdom. The essence of a jerk is immutable, or so it seems, raising a basic question: How do you deal with the office ninny, jackass or schmuck?...
Read the article.  Back to top


Quickie Workouts

Is it possible to get a good workout in less than 30 minutes? The Gravity Fitness Center in Le Parker Meridien hotel in New York boasts that with "The Quickie," a person can get into the gym and work out their entire body in just 28 minutes. Does it work? While many people are under the impression that they have to spend hours at the gym (which leads to the excuse of not having time), that's not necessarily the case. A typical strength exercise program usually consists of three sets of eight to 12 repetitions per body part. But the American College of Sports Medicine in Indianapolis, has done research that shows that 80% of the gains made from the three-set system are accomplished in...
Read the article.  Back to top



How to Wow’Em like Steve Jobs

Apple Computer (AAPL), now celebrating 30 years of innovation, has revolutionized the way we use computers and listen to music. Now its charismatic co-founder, Steve Jobs, has transformed the corporate pitch. Anyone who has watched a Jobs keynote will tell you he is one of the most extraordinary speakers in Corporate America. Jobs learned a long time ago that a leader must be a company evangelist and brand spokesperson. As a communications coach and former business journalist, I have spent plenty of time with Apple executives and have watched my share of Jobs' presentations. He is magnificent. But whether you are pitching a hot gizmo, such as the iPod, or a hot sub sandwich, a story is a story and your goal is to win customers. Here are Jobs' five keys to a dazzling presentation...
Read the article.  Back to top


Beyond The Annual Physical

Well-heeled worriers are signing up for wide-ranging tests. We try a pricey new one. How much do you really want to know about your health? For most of us, the annual physical -- a little blood work, a little poking and probing -- will more than suffice. But for the well-heeled worrier, there are far more detailed and costly options: one- to two-day executive physicals that cost thousands of dollars, $500-and-up full body scans, and now, a $3,400 blood test named the Biophysical250 that screens for 250 possible diseases, at least 150 more than most standard physicals. "Very American," my own admittedly skeptical doctor sighed when I told him I'd tried the latter option for this story. Then came the warning...
Read the article.  Back to top



Forward to a Friend:
Do you have a friend that would like to receive FinanceWatchsm? Perhaps you know a peer within your organization, or associate at a partner company that would benefit from applying to receive this publication. Inviting a friend to experience the benefits of joining the BusinessWatch Network is easy! Just FW: this newsletter to the person you know who may have an interest and ask them to click here http://www.businesswatchnetwork.com Your friend will be glad you did!

DISCLAIMER: FinanceWatchsm and the BusinessWatch Networksm are service marks of DMS. All other trademarks or service marks contained in this email are the property of their respective owners. At the time of publication, all links in this e-mail functioned properly. However, since many links point to sites other than businesswatchnetwork.com, some links may become invalid as time passes.

If at any time you would like to unsubscribe from FinamceWatchsm simply visit this URL, or send a letter requesting opt-off to: The BusinessWatch Network Privacy Mailbox, 1321, Marblehead, MA. 01945