Bluetooth technology connects computers, PDAs, cameras and phones with one another without the need for wires, creating so-called ad-hoc, virtual networks that share information. That information can include everything from photos and videos stored in a digital camera to contact lists from a PDA or your own voice transmitted from a wireless headphone to the cell phone in your pocket. Bluetooth is similar to the popular wireless technology WiFi but operates on a shorter range, three to 30 feet versus about 300 feet for WiFi. It can operate in tandem with WiFi and other networks so this isn't an either/or choice. Thanks to Bluetooth's easy connectivity, a small business owner can use the technology to:
1.Save money because there's no need to purchase expensive cables otherwise needed to interconnect electronic devices.
2.Save time and frustration by taking advantage of Bluetooth's ability to connect devices from many manufacturers with relative ease.
3.Choose from one of three security settings.
4.Send or receive contact information and product information at meetings and trade shows.
5.Carry a cell phone safely in a pocket while conversing via hassle-free wireless headphones.
6.Create complex networks capable of doing everything from helping fleet operators manage deliveries to linking medical monitoring devices inside hospital rooms.
Action Steps
The best contacts and resources to help you get it done
Get equipped
Bluetooth-enable your company by inventorying all its existing electronic devices. Some devices - newer high-end laptop computers, for example - already may be Bluetooth compatible. Other equipment can be made Bluetooth compatible with the addition of simple add-on devices. Finally, make Bluetooth compatibility a requirement for all relevant new electronic equipment purchases.
I recommend: Find the latest Bluetooth-enabled products at the Bluetooth.org Web site. The electronics firm Kensington makes a Bluetooth adaptor that plugs into a computer's USB port, allowing it to communicate with other Bluetooth devices. In addition to popular computer supply stores such as BestBuy and CompUSA that carry Bluetooth-enabled products, the online store Blue Shop is devoted entirely to gadgets for Bluetooth users.
Monday, November 23, 2009
Friday, November 20, 2009
Guide to Finding New Customers Online
Whether your primary business is run online or offline, you can find new customers or clients on the Internet. Paid online advertising is only one of many methods you can use to zero in on new leads. In fact, many methods for seeking out customers online don't cost a thing and can be very effective.
Some of the online tactics you can use to find new customers are:
1.Advertising
2.Everyday email
3.Community forums
4.Email coupon campaigns
5.E-newsletters
Action Steps
The best contacts and resources to help you get it done
Use online advertising
Purchasing banner ads and pay-per-click (PPC) advertising on Web sites or in e-newsletters that reach your target audience can bolster your customer base.
I recommend: Sign up for PPC advertising programs, such as Google AdWords, which also publishes a set of Editorial Guidelines for writing banner ad copy. Get help creating, downloading and publishing your ads with Flash Banner Now, BannersOnline.com or Hey! Banner Banner!. Other sites to consider include Yahoo! Search Marketing, for general purpose PPC ads and Business.com if you sell B2B.
Take advantage of everyday email
With every email you send, use a signature file or "sig file" where you can include a variety of information, including your URL, links to your Web site, store location and hours, upcoming sales events and current promotions. Always include an option to "forward to a friend" to increase the reach of your emails to new prospects.
I recommend: Google provides free sig files and a list of annoying sig files to avoid. Find a list of sites that offer still more sig files at Yahoo! or see how to create one yourself at WorldStart.com.
Get familiar with online forums
Community forums are like an online coffee shop where people with similar interests gather to chat. By becoming a regular in forums that address the needs of your potential customers, you can introduce your business to them in a way that doesn't involve in-your-face advertising. Be sure not to overtly advertise or promote your business in a forum; it's considered rude and could get you kicked out.
I recommend: Most forums have their own rules, but you can check out basic forum etiquette rules from N'etiquette.com. Forumer has helpful advice on using forums to promote your business.
Send email coupons
Reach new customers by emailing coupons. To find names of prospects, buy or rent a list from a broker. To avoid being labeled a spammer, make sure the broker uses opt-in procedures rather than harvesting email addresses online.
I recommend: Search for list brokers at the Direct Marketing Association's (DMA) Yellow Pages. Make coupon mailings easier with help from online services, such as mUrgent's e-Coupon Club, which offers custom designs and templates.
Offer an e-newsletter
By creating a quality e-newsletter that's filled with must-have info, you can gain placement on directories for e-zines and e-newsletters. This added visibility can introduce your business to new customers.
I recommend: For help creating, managing and distributing an e-newsletter, try Constant Contact, a Web-based email marketing service, or ENewsletterPro software. Submit your e-zine to directories like the E-zine Directory, the E-zine Listing or E-zine Locator.
Some of the online tactics you can use to find new customers are:
1.Advertising
2.Everyday email
3.Community forums
4.Email coupon campaigns
5.E-newsletters
Action Steps
The best contacts and resources to help you get it done
Use online advertising
Purchasing banner ads and pay-per-click (PPC) advertising on Web sites or in e-newsletters that reach your target audience can bolster your customer base.
I recommend: Sign up for PPC advertising programs, such as Google AdWords, which also publishes a set of Editorial Guidelines for writing banner ad copy. Get help creating, downloading and publishing your ads with Flash Banner Now, BannersOnline.com or Hey! Banner Banner!. Other sites to consider include Yahoo! Search Marketing, for general purpose PPC ads and Business.com if you sell B2B.
Take advantage of everyday email
With every email you send, use a signature file or "sig file" where you can include a variety of information, including your URL, links to your Web site, store location and hours, upcoming sales events and current promotions. Always include an option to "forward to a friend" to increase the reach of your emails to new prospects.
I recommend: Google provides free sig files and a list of annoying sig files to avoid. Find a list of sites that offer still more sig files at Yahoo! or see how to create one yourself at WorldStart.com.
Get familiar with online forums
Community forums are like an online coffee shop where people with similar interests gather to chat. By becoming a regular in forums that address the needs of your potential customers, you can introduce your business to them in a way that doesn't involve in-your-face advertising. Be sure not to overtly advertise or promote your business in a forum; it's considered rude and could get you kicked out.
I recommend: Most forums have their own rules, but you can check out basic forum etiquette rules from N'etiquette.com. Forumer has helpful advice on using forums to promote your business.
Send email coupons
Reach new customers by emailing coupons. To find names of prospects, buy or rent a list from a broker. To avoid being labeled a spammer, make sure the broker uses opt-in procedures rather than harvesting email addresses online.
I recommend: Search for list brokers at the Direct Marketing Association's (DMA) Yellow Pages. Make coupon mailings easier with help from online services, such as mUrgent's e-Coupon Club, which offers custom designs and templates.
Offer an e-newsletter
By creating a quality e-newsletter that's filled with must-have info, you can gain placement on directories for e-zines and e-newsletters. This added visibility can introduce your business to new customers.
I recommend: For help creating, managing and distributing an e-newsletter, try Constant Contact, a Web-based email marketing service, or ENewsletterPro software. Submit your e-zine to directories like the E-zine Directory, the E-zine Listing or E-zine Locator.
Wednesday, November 18, 2009
What Works™ for Business
Recession-damaged small and mid-sized businesses would like to extend credit to customers with little if any credit history if they could do it without great risk. Now there’s a way. FICO — the company behind the ubiquitous FICO credit score we all know and love — has created a new FICO Expansion Score to help businesses evaluate the estimated 50-70 million U.S. consumers who have either no traditional credit history or thin credit bureau files at Equifax, Experian and TransUnion.
This group of potential customers is heavy on students, senior citizens and recent immigrants, so the scoring model is based on non-traditional credit data such as subscription memberships, bank deposit account activity and utility histories. The resulting scores use the same 300-850 scoring range as the traditional FICO and can also be used in combination with the traditional score when making credit decisions. The new scoring system can help identify responsible, credit-worthy customers who can meet their obligations but simply haven’t had an opportunity to establish a traditional credit history.
MicroBilt Corp., which provides risk manaement services to small and mid-sized businesses, has an exclusive license to use the FICO scoring model in the U.S. and sell FICO Expansion scores to lenders and businesses. MicroBuilt has direct links to the three major credit bureaus, which means businesses checking customer credit can get both the traditional FICO score and the FICO Expansion score from a single source. For more information on obtaining a FICO Expansion score you can fill out a MicroBuilt inquiry form or call 800-884-4397.
According to its creators, the FICO Expansion score accurately predicts the likelihood that a consumer will become seriously delinquent within the next two years, using the same caliber of highly predictive, objective risk evaluation that other FICO scores are known for.
This group of potential customers is heavy on students, senior citizens and recent immigrants, so the scoring model is based on non-traditional credit data such as subscription memberships, bank deposit account activity and utility histories. The resulting scores use the same 300-850 scoring range as the traditional FICO and can also be used in combination with the traditional score when making credit decisions. The new scoring system can help identify responsible, credit-worthy customers who can meet their obligations but simply haven’t had an opportunity to establish a traditional credit history.
MicroBilt Corp., which provides risk manaement services to small and mid-sized businesses, has an exclusive license to use the FICO scoring model in the U.S. and sell FICO Expansion scores to lenders and businesses. MicroBuilt has direct links to the three major credit bureaus, which means businesses checking customer credit can get both the traditional FICO score and the FICO Expansion score from a single source. For more information on obtaining a FICO Expansion score you can fill out a MicroBuilt inquiry form or call 800-884-4397.
According to its creators, the FICO Expansion score accurately predicts the likelihood that a consumer will become seriously delinquent within the next two years, using the same caliber of highly predictive, objective risk evaluation that other FICO scores are known for.
What Works™ for Business
Recession-damaged small and mid-sized businesses would like to extend credit to customers with little if any credit history if they could do it without great risk. Now there’s a way. FICO — the company behind the ubiquitous FICO credit score we all know and love — has created a new FICO Expansion Score to help businesses evaluate the estimated 50-70 million U.S. consumers who have either no traditional credit history or thin credit bureau files at Equifax, Experian and TransUnion.
This group of potential customers is heavy on students, senior citizens and recent immigrants, so the scoring model is based on non-traditional credit data such as subscription memberships, bank deposit account activity and utility histories. The resulting scores use the same 300-850 scoring range as the traditional FICO and can also be used in combination with the traditional score when making credit decisions. The new scoring system can help identify responsible, credit-worthy customers who can meet their obligations but simply haven’t had an opportunity to establish a traditional credit history.
MicroBilt Corp., which provides risk manaement services to small and mid-sized businesses, has an exclusive license to use the FICO scoring model in the U.S. and sell FICO Expansion scores to lenders and businesses. MicroBuilt has direct links to the three major credit bureaus, which means businesses checking customer credit can get both the traditional FICO score and the FICO Expansion score from a single source. For more information on obtaining a FICO Expansion score you can fill out a MicroBuilt inquiry form or call 800-884-4397.
According to its creators, the FICO Expansion score accurately predicts the likelihood that a consumer will become seriously delinquent within the next two years, using the same caliber of highly predictive, objective risk evaluation that other FICO scores are known for.
This group of potential customers is heavy on students, senior citizens and recent immigrants, so the scoring model is based on non-traditional credit data such as subscription memberships, bank deposit account activity and utility histories. The resulting scores use the same 300-850 scoring range as the traditional FICO and can also be used in combination with the traditional score when making credit decisions. The new scoring system can help identify responsible, credit-worthy customers who can meet their obligations but simply haven’t had an opportunity to establish a traditional credit history.
MicroBilt Corp., which provides risk manaement services to small and mid-sized businesses, has an exclusive license to use the FICO scoring model in the U.S. and sell FICO Expansion scores to lenders and businesses. MicroBuilt has direct links to the three major credit bureaus, which means businesses checking customer credit can get both the traditional FICO score and the FICO Expansion score from a single source. For more information on obtaining a FICO Expansion score you can fill out a MicroBuilt inquiry form or call 800-884-4397.
According to its creators, the FICO Expansion score accurately predicts the likelihood that a consumer will become seriously delinquent within the next two years, using the same caliber of highly predictive, objective risk evaluation that other FICO scores are known for.
Saturday, November 14, 2009
At General Motors, Loss Reduction Is a Good Start
On Monday, Nov. 16, General Motors CEO Frederick A. "Fritz" Henderson will give the company's first update since it emerged from bankruptcy in June. The news is supposed to be good—relatively speaking.
Sources close to management who have seen the preliminary financials, but who asked not to be named, say GM will show much-improved third-quarter earnings and cash flow. The company will still be in the red, according to the sources, but will have cut losses from recent quarters by billions of dollars.
Even a slight loss would be big progress for GM. The company lost $6 billion in the first quarter—the last quarter GM reported before going bankrupt—and it lost $31 billion last year. In the third quarter of 2008, GM lost $4.2 billion, including one-time charges.
GM will show improvements in cash flow through lower costs and better net pricing on its cars, the sources say. That tracks the kind of improvements rival Ford Motor (F) showed on Nov. 2, when lower costs and high sticker prices added up to a surprise $1 billion profit.
Striking Distance of Breakeven?
"GM is stabilizing, but it's not stabilized," says longtime industry watcher Joseph Phillippi, principal of AutoTrends, a New Jersey consultancy. "The new cars are doing well."
In fact, the sources maintain that GM was within striking distance of breaking even in the third quarter, not counting charges for special items and restructuring costs.
Improved numbers would be a relief for Henderson, who is under pressure from new Chairman Edward Whitacre and GM's board to show results.
The company's earnings and cash flow will be helped in the quarter by the fact that it shut down many plants in June while it was in bankruptcy. To give dealers new inventory, factories had to crank back up when the company emerged. That will help earnings because carmakers book revenue as soon as a car heads off the assembly line for a dealership.
At the same time, the company is still paying out union health-care costs. The company has set up a Voluntary Employee Benefits Trust, or VEBA, to pay union health-care benefits the way a pension fund pays pension benefits. But that plan hasn't kicked in yet, so GM's profitability won't show improvement from the VEBA deal until next year
Sources close to management who have seen the preliminary financials, but who asked not to be named, say GM will show much-improved third-quarter earnings and cash flow. The company will still be in the red, according to the sources, but will have cut losses from recent quarters by billions of dollars.
Even a slight loss would be big progress for GM. The company lost $6 billion in the first quarter—the last quarter GM reported before going bankrupt—and it lost $31 billion last year. In the third quarter of 2008, GM lost $4.2 billion, including one-time charges.
GM will show improvements in cash flow through lower costs and better net pricing on its cars, the sources say. That tracks the kind of improvements rival Ford Motor (F) showed on Nov. 2, when lower costs and high sticker prices added up to a surprise $1 billion profit.
Striking Distance of Breakeven?
"GM is stabilizing, but it's not stabilized," says longtime industry watcher Joseph Phillippi, principal of AutoTrends, a New Jersey consultancy. "The new cars are doing well."
In fact, the sources maintain that GM was within striking distance of breaking even in the third quarter, not counting charges for special items and restructuring costs.
Improved numbers would be a relief for Henderson, who is under pressure from new Chairman Edward Whitacre and GM's board to show results.
The company's earnings and cash flow will be helped in the quarter by the fact that it shut down many plants in June while it was in bankruptcy. To give dealers new inventory, factories had to crank back up when the company emerged. That will help earnings because carmakers book revenue as soon as a car heads off the assembly line for a dealership.
At the same time, the company is still paying out union health-care costs. The company has set up a Voluntary Employee Benefits Trust, or VEBA, to pay union health-care benefits the way a pension fund pays pension benefits. But that plan hasn't kicked in yet, so GM's profitability won't show improvement from the VEBA deal until next year
Tuesday, November 10, 2009
Health Insurance Basics for Small Business
As small businesses struggle over health insurance, a National Association of Insurance Commissioners (NAIC) survey finds that two out of three business owners feel clueless about health insurance choices and costs.
Here are your basic options, from full-featured major medical plans, to HMOs, PPOs, health savings accounts (HSAs) and more — plus what you can expect to pay right now for a small group plan, and some of the best ways to control the costs of providing health coverage at your business:
Indemnity plans – These major medical plans typically have a deductible – the amount you pay before the insurance company begins paying benefits. After covered expenses exceed the deductible, benefits usually are paid as a percentage of actual expenses, often 80 percent. These plans offer the most flexibility in choosing where to receive care.
Health Maintenance Organization (HMO) - HMOs make you choose a primary care physician (PCP) from a list of network providers. Your PCP is responsible for managing all of your health care. If you need care from any network provider other than your PCP, you may need a referral. Insured employees must receive care from a network provider in order to have the claim paid through the HMO. Treatment received outside the network may be covered at a reduced level or not at all.
Preferred Provider Organization (PPO) - Under these medical plans, the insurance company enters into contracts with selected hospitals and doctors to furnish services at a discount. As a member of a PPO, you may be able to seek care from a doctor or hospital that is not a preferred provider, but you will probably pay a higher deductible or co-payment.
Point of Service (POS) plans- These are a hybrid of the PPO and HMO models. They are more flexible than HMOs, but still require you to select a PCP. Like a PPO, you can go to an out-of-network provider and pay more of the cost. However, if the PCP refers you to an out-of-network doctor, the health plan will pay the cost.
Health Savings Accounts (HSA) and High Deductible Health Plans– A Health Savings Account is not health insurance by itself. Rather, it is a savings plan that offers an alternate way to pay for health care. HSAs let you pay for current health expenses and save for future medical and retiree health expenses on a tax-free basis.
In order to open an HSA, an individual must be covered by a High Deductible Health Plan (HDHP). Sometimes referred to as a “catastrophic” health insurance plan, an HDHP is low-cost coverage that only kicks in after the first several thousand dollars or more of expenses.
Here are your basic options, from full-featured major medical plans, to HMOs, PPOs, health savings accounts (HSAs) and more — plus what you can expect to pay right now for a small group plan, and some of the best ways to control the costs of providing health coverage at your business:
Indemnity plans – These major medical plans typically have a deductible – the amount you pay before the insurance company begins paying benefits. After covered expenses exceed the deductible, benefits usually are paid as a percentage of actual expenses, often 80 percent. These plans offer the most flexibility in choosing where to receive care.
Health Maintenance Organization (HMO) - HMOs make you choose a primary care physician (PCP) from a list of network providers. Your PCP is responsible for managing all of your health care. If you need care from any network provider other than your PCP, you may need a referral. Insured employees must receive care from a network provider in order to have the claim paid through the HMO. Treatment received outside the network may be covered at a reduced level or not at all.
Preferred Provider Organization (PPO) - Under these medical plans, the insurance company enters into contracts with selected hospitals and doctors to furnish services at a discount. As a member of a PPO, you may be able to seek care from a doctor or hospital that is not a preferred provider, but you will probably pay a higher deductible or co-payment.
Point of Service (POS) plans- These are a hybrid of the PPO and HMO models. They are more flexible than HMOs, but still require you to select a PCP. Like a PPO, you can go to an out-of-network provider and pay more of the cost. However, if the PCP refers you to an out-of-network doctor, the health plan will pay the cost.
Health Savings Accounts (HSA) and High Deductible Health Plans– A Health Savings Account is not health insurance by itself. Rather, it is a savings plan that offers an alternate way to pay for health care. HSAs let you pay for current health expenses and save for future medical and retiree health expenses on a tax-free basis.
In order to open an HSA, an individual must be covered by a High Deductible Health Plan (HDHP). Sometimes referred to as a “catastrophic” health insurance plan, an HDHP is low-cost coverage that only kicks in after the first several thousand dollars or more of expenses.
Wednesday, November 4, 2009
Sizing Up Buffett's Biggest Bet
Berkshire Hathaway (BRKA) CEO and value investing demigod Warren Buffett has been hinting for some time that he was looking for a large company to buy with Berkshire's huge cash hoard, which stood at about $21 billion at the end of the second quarter. Last year he described his likely targets as "big ones, elephants." On Nov. 3, Buffett bagged a good-sized pachyderm, paying $34 billion—$44 billion, including debt—for sole ownership of Fort Worth (Tex.)-based Burlington Northern Santa Fe Corp. (BNI), the second-largest U.S. railroad.
The deal is the biggest acquisition in Berkshire's history and, in Buffett's words, "an all-in wager on the economic future of the United States." In a statement, Burlington Northern CEO Matthew Rose added: "We admire Warren's leadership philosophy supporting long-term investment that will allow BNSF to focus on the future needs of our railroad." Pending an antitrust review by the Justice Dept. because Berkshire has smaller stakes in other railroads, the deal is expected to close early next year.
Berkshire has been eyeing freight trains for some time. In 2006, the company bought a 10.9% stake in Burlington Northern, later increasing its holding to 22%. On Tuesday Berkshire bought the rest of the company for $100 a share in cash and newly issued Berkshire Hathaway stock. About $16 billion of the purchase price is in cash, half of it coming from Berkshire's coffers and the other half borrowed from banks. The price represents a roughly 30% premium over Burlington Northern's New York Stock Exchange closing price on Monday. Berkshire also agreed to assume $10 billion in outstanding Burlington Northern debt.
The deal is the biggest acquisition in Berkshire's history and, in Buffett's words, "an all-in wager on the economic future of the United States." In a statement, Burlington Northern CEO Matthew Rose added: "We admire Warren's leadership philosophy supporting long-term investment that will allow BNSF to focus on the future needs of our railroad." Pending an antitrust review by the Justice Dept. because Berkshire has smaller stakes in other railroads, the deal is expected to close early next year.
Berkshire has been eyeing freight trains for some time. In 2006, the company bought a 10.9% stake in Burlington Northern, later increasing its holding to 22%. On Tuesday Berkshire bought the rest of the company for $100 a share in cash and newly issued Berkshire Hathaway stock. About $16 billion of the purchase price is in cash, half of it coming from Berkshire's coffers and the other half borrowed from banks. The price represents a roughly 30% premium over Burlington Northern's New York Stock Exchange closing price on Monday. Berkshire also agreed to assume $10 billion in outstanding Burlington Northern debt.
Sizing Up Buffett's Biggest Bet
Berkshire Hathaway (BRKA) CEO and value investing demigod Warren Buffett has been hinting for some time that he was looking for a large company to buy with Berkshire's huge cash hoard, which stood at about $21 billion at the end of the second quarter. Last year he described his likely targets as "big ones, elephants." On Nov. 3, Buffett bagged a good-sized pachyderm, paying $34 billion—$44 billion, including debt—for sole ownership of Fort Worth (Tex.)-based Burlington Northern Santa Fe Corp. (BNI), the second-largest U.S. railroad.
The deal is the biggest acquisition in Berkshire's history and, in Buffett's words, "an all-in wager on the economic future of the United States." In a statement, Burlington Northern CEO Matthew Rose added: "We admire Warren's leadership philosophy supporting long-term investment that will allow BNSF to focus on the future needs of our railroad." Pending an antitrust review by the Justice Dept. because Berkshire has smaller stakes in other railroads, the deal is expected to close early next year.
Berkshire has been eyeing freight trains for some time. In 2006, the company bought a 10.9% stake in Burlington Northern, later increasing its holding to 22%. On Tuesday Berkshire bought the rest of the company for $100 a share in cash and newly issued Berkshire Hathaway stock. About $16 billion of the purchase price is in cash, half of it coming from Berkshire's coffers and the other half borrowed from banks. The price represents a roughly 30% premium over Burlington Northern's New York Stock Exchange closing price on Monday. Berkshire also agreed to assume $10 billion in outstanding Burlington Northern debt.
The deal is the biggest acquisition in Berkshire's history and, in Buffett's words, "an all-in wager on the economic future of the United States." In a statement, Burlington Northern CEO Matthew Rose added: "We admire Warren's leadership philosophy supporting long-term investment that will allow BNSF to focus on the future needs of our railroad." Pending an antitrust review by the Justice Dept. because Berkshire has smaller stakes in other railroads, the deal is expected to close early next year.
Berkshire has been eyeing freight trains for some time. In 2006, the company bought a 10.9% stake in Burlington Northern, later increasing its holding to 22%. On Tuesday Berkshire bought the rest of the company for $100 a share in cash and newly issued Berkshire Hathaway stock. About $16 billion of the purchase price is in cash, half of it coming from Berkshire's coffers and the other half borrowed from banks. The price represents a roughly 30% premium over Burlington Northern's New York Stock Exchange closing price on Monday. Berkshire also agreed to assume $10 billion in outstanding Burlington Northern debt.
Sizing Up Buffett's Biggest Bet
Berkshire Hathaway (BRKA) CEO and value investing demigod Warren Buffett has been hinting for some time that he was looking for a large company to buy with Berkshire's huge cash hoard, which stood at about $21 billion at the end of the second quarter. Last year he described his likely targets as "big ones, elephants." On Nov. 3, Buffett bagged a good-sized pachyderm, paying $34 billion—$44 billion, including debt—for sole ownership of Fort Worth (Tex.)-based Burlington Northern Santa Fe Corp. (BNI), the second-largest U.S. railroad.
The deal is the biggest acquisition in Berkshire's history and, in Buffett's words, "an all-in wager on the economic future of the United States." In a statement, Burlington Northern CEO Matthew Rose added: "We admire Warren's leadership philosophy supporting long-term investment that will allow BNSF to focus on the future needs of our railroad." Pending an antitrust review by the Justice Dept. because Berkshire has smaller stakes in other railroads, the deal is expected to close early next year.
Berkshire has been eyeing freight trains for some time. In 2006, the company bought a 10.9% stake in Burlington Northern, later increasing its holding to 22%. On Tuesday Berkshire bought the rest of the company for $100 a share in cash and newly issued Berkshire Hathaway stock. About $16 billion of the purchase price is in cash, half of it coming from Berkshire's coffers and the other half borrowed from banks. The price represents a roughly 30% premium over Burlington Northern's New York Stock Exchange closing price on Monday. Berkshire also agreed to assume $10 billion in outstanding Burlington Northern debt.
The deal is the biggest acquisition in Berkshire's history and, in Buffett's words, "an all-in wager on the economic future of the United States." In a statement, Burlington Northern CEO Matthew Rose added: "We admire Warren's leadership philosophy supporting long-term investment that will allow BNSF to focus on the future needs of our railroad." Pending an antitrust review by the Justice Dept. because Berkshire has smaller stakes in other railroads, the deal is expected to close early next year.
Berkshire has been eyeing freight trains for some time. In 2006, the company bought a 10.9% stake in Burlington Northern, later increasing its holding to 22%. On Tuesday Berkshire bought the rest of the company for $100 a share in cash and newly issued Berkshire Hathaway stock. About $16 billion of the purchase price is in cash, half of it coming from Berkshire's coffers and the other half borrowed from banks. The price represents a roughly 30% premium over Burlington Northern's New York Stock Exchange closing price on Monday. Berkshire also agreed to assume $10 billion in outstanding Burlington Northern debt.
Monday, November 2, 2009
Best Online Bookkeeping for Small Business
One of the best things to happen to small business the last several years is the arrival of computing services that you access online. They are cheap (often free) and eliminate the need for you to have expensive hardware and software in your own location.
Among the most prolific of these services are online billing and bookkeeping websites. They range from free and simple services that let you create and send invoices, to full-blown financial management solutions that can help manage all aspects of your business.
Here are my top five online invoicing and bookkeeping services for small business:
WorkingPoint.com (previously called NetBooks) aspires to be much more than just online bookkeeping. It’s an end-to-end solution that lets you manage your entire small business online. This includes invoicing, bookkeeping, contact management, expense tracking, financial reports, inventory management and more.
The site’s latest offering is a new company profile feature that gives you a free web page. The basic WorkingPoint service (one user) is free “forever.” For additional users, rates start at $10 monthly.
Freshbooks.com – among the first online invoicing services – has hundreds of thousands of users and an expanding lineup of services. It’s core service lets you send and manage invoices and collect payments online. You can brand your system and invoices with your company’s logo.
Where FreshBooks stands apart from most other services is its ability to also let you track time and expenses for yourself, your staff or contractors who may be working on various projects with your team. You can invite contractors to join your team on FreshBooks and receive their invoices all in one place. There’s also a FreshBooks iPhone app.
Zoho Invoice is one of ten helpful business applications from the popular online collaboration site Zoho. It’s free for up to five invoices per month. For larger numbers, pricing ranges from $8 to $35 per month. Zoho Invoice lets you easily send professionally-designed invoices and price quotes to your customers. You can select from different invoice templates, or design your own with your own logo. Plus, you can track invoices, send reminders, accept payments online (through PayPal integration) and acknowledge receipts. If you sell overseas, there’s a feature that lets you send invoices and quotes in different currencies.
For a service dedicated primarily to invoicing, Zoho Invoice is a great choice, and leverages many of the same features that have made it’s other award-winning applications so popular among freelancers, small business owners and professionals such as attorneys, architects and tech consultants. Other features include automated invoicing for recurring bills, and the ability to import or export data to or from the system anytime with standard formats.
QuickBooks Online Free: This simplified, free version of the QuickBooks accounting and bookkeeping system for small business lacks the more powerful features of QuickBooks’ other versions, but it still packs a nice little punch for a small solo business if your needs are modest. You can instantly create invoices, track your money and manage up to 20 customers.
The “easy accounting” features of QuickBooks Online Free are designed for people who don’t know anything about accounting. It helps you get and stay financially organized by gathering your important information in a central place. Your information is then available to you anytime, anywhere via the Internet.
BillingBoss.com, from The Sage Group, is one of the newest additions to the online bookkeeping lineup. Billing Boss is a free online invoicing tool designed for small business owners and freelancers to create, send and track invoices. It’s easy to use and you can create your first invoice within minutes of signing up.
If you’ve been getting by with spreadsheets, or use complicated accounting software only for its invoicing tool, BillingBoss might be for you. Unlike some free services, there’s no limit on the number of invoices you can create or send with Billing Boss. You can also set it up so customers can pay you online through Billing Boss. There’s also comfort in knowing this service is run by one of the world’s leading business software companies, and that your data and customer information are encrypted and stored in secure facilities.
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