Byline: By richard siklos section: Section C; Column 5; Business/Financial Desk; Pg. 1 Length
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URL: http://www.nytimes.com SUBJECT: AUTO RACING (92%); NASCAR RACING (90%); CONTRACTS & BIDS (78%); SPORTS AGENTS & PROMOTERS (78%); ENTREPRENEURSHIP (78%); SPONSORSHIP (77%); ACCIDENTAL FATALITIES (68%); SPORTS & RECREATION EVENTS (77%); STEPPARENTS (54%) Automobile Racing COMPANY: LOWE'S MOTOR SPEEDWAY INC (71%) ORGANIZATION: Earnhardt, Dale, Inc PERSON: Viv Bernstein; Dale Jr Earnhardt; Teresa Earnhardt LOAD-DATE: February 11, 2007 LANGUAGE: ENGLISH GRAPHIC: Photo: Dale Earnhardt Jr. is feuding with his stepmother, Teresa, for control of his Nextel Cup racing team. (Photo by John Raoux/Associated Press) PUBLICATION-TYPE: Newspaper Copyright 2007 The New York Times Company 1148 of 1258 DOCUMENTS The New York Times
Late Edition - Final Paid Notice: Deaths DODGE, CLEVELAND E. (CLEE) JR. SECTION: Section 1; Column 1; Classified; Pg. 44 LENGTH: 363 words DODGE--Cleveland E. (Clee) Jr., on Sunday, January 28, in Bennington, Vermont, after a long struggle with prostate cancer. He was 84. Born on March 7, 1922, in Riverdale, New York, Mr. Dodge was the son of Cleveland E. and Pauline Morgan Dodge. He was the great-grandson William E. Dodge, founder of the Phelps Dodge Corporation. He attended Riverdale Country School, Bronx, and the Hotchkiss School, Lakeville, Connecticut before graduating from the Princeton University School of Engineering on an accelerated program in 1942. During WWII he served as commander of a PT boat in Honolulu, Hawaii. In 1955 he set up his own company, Dodge Fibers Corp., making Teflon-coated fabrics, insulation and other industrial products in Hoosick Falls, New York. Mr. Dodge served as a Member and Director of the Cleveland H. Dodge Foundation, Inc, (which was established by his grandfather in 1917) from 1955 until the death of his father in 1982, when he was elected President and served until 2002. Since then he served as Chairman of the Board of Directors until his death. During his lifetime, Mr. Dodge served on many charitable Boards including The Antique Boat Museum, Clayton, New York; The Bennington Museum, Bennington, Vermont; The Bisbee Council on Arts and Humanities, Bisbee, Arizona; Silver City Museum, Silver City, New Mexico; Springfield College, Springfield, Massachusetts; and the YMCA Pension Fund in New York City. He also served on the Boards of Atlantic Mutual Companies, New York City; KeyBank, Dayton, Ohio; and the Phelps Dodge Corporation, Phoenix, Arizona. Mr. Dodge was married to the late Phyllis Boushall Dodge, who died in January, 2004. He is survived by his children, Alice Dodge Berkeley of London, England, Sally Dodge Mole of Manchester, Vermont, and Cleveland E. Dodge, III of Montreal, Canada, along with six grandchildren, five great-grandchildren, and many nieces, nephews and cousins. He is also survived by a sister, Joan Dodge Rueckert of Hanover, New Hampshire. A memorial service will be held at St. Johns Church in Williamstown, Massachusetts, on February 23, 2007. Interment will be at the family crypt in Woodlawn Cemetery, Bronx, New York. URL: http://www.nytimes.com SUBJECT: DEATHS & OBITUARIES (92%); BOARDS OF DIRECTORS (76%); HUMANITIES & SOCIAL SCIENCE (76%); CANCER (73%); PROSTATE DISEASE (73%); CHARITIES (73%); PROSTATE CANCER (73%); ENTREPRENEURSHIP (70%); WORLD WAR II (70%) Terms not available from NYTimes COMPANY: FREEPORT-MCMORAN COPPER & GOLD INC (91%); KEYBANK NA (CLEVELAND OH) (90%); ATLANTIC MUTUAL COS (66%); PHELPS DODGE CORP (91%); PRINCETON UNIVERSITY PRESS (57%); KEYCORP (54%) ORGANIZATION: PRINCETON UNIVERSITY (57%) TICKER: FCX (NYSE) (91%); KEY (NYSE) (54%) INDUSTRY: NAICS331411 PRIMARY SMELTING & REFINING OF COPPER (91%); NAICS213114 SUPPORT ACTIVITIES FOR METAL MINING (91%); NAICS212234 COPPER ORE & NICKEL ORE MINING (91%); NAICS212222 SILVER ORE MINING (91%); NAICS212221 GOLD ORE MINING (91%); SIC3341 SECONDARY SMELTING & REFINING OF NONFERROUS METALS (91%); SIC3331 PRIMARY SMELTING & REFINING OF COPPER (91%); SIC1081 METAL MINING SERVICES (91%); SIC1044 SILVER ORES (91%); SIC1041 GOLD ORES (91%); SIC1021 COPPER ORES (91%); SIC6021 NATIONAL COMMERCIAL BANKS (54%); NAICS551111 OFFICES OF BANK HOLDING COMPANIES (54%); NAICS522110 COMMERCIAL BANKING (54%); SIC6712 OFFICES OF BANK HOLDING COMPANIES (54%) GEOGRAPHIC: NEW YORK, NY, USA (94%); CLEVELAND, OH, USA (94%); HONOLULU, HI, USA (79%); MONTREAL, PQ, CANADA (79%); LONDON, ENGLAND (78%); PHOENIX, AZ, USA (72%) NEW YORK, USA (96%); VERMONT, USA (94%); OHIO, USA (94%); HAWAII, USA (91%); MASSACHUSETTS, USA (92%); ARIZONA, USA (86%); QUEBEC, CANADA (79%); NEW MEXICO, USA (73%); CONNECTICUT, USA (72%); NEW HAMPSHIRE, USA (51%) UNITED STATES (96%); CANADA (79%); ENGLAND (51%); UNITED KINGDOM (51%) LOAD-DATE: February 11, 2007 LANGUAGE: ENGLISH DOCUMENT-TYPE: Paid Death Notice PUBLICATION-TYPE: Newspaper Copyright 2007 The New York Times Company 1149 of 1258 DOCUMENTS The New York Times
Late Edition - Final For Entrepreneurs, a Crash Course in Accounting BYLINE: By ROBERT D. HERSHEY Jr. SECTION: Section 3; Column 2; Money and Business/Financial Desk; YOUR TAXES; Pg. 11 LENGTH: 1348 words DATELINE: KENSINGTON, Md. LIKE many starry-eyed entrepreneurs, James Warlick and his business partner concentrated their initial efforts on winning and serving customers and relegated mundane chores like taxes to the back burner. ''We were real excited,'' recalled Mr. Warlick, the proprietor of what in 1994 was a fledgling operation that printed T-shirts. ''We had an opportunity to start a business.'' It didn't take long, however, before Mr. Warlick, now 35, began to notice that the financial numbers of a business that took in a mere $90,000 that first year were not being tracked carefully and income tax was due. Eventually, though no audits or penalties resulted, the inattention required extra costs of $15,000 to $20,000 to straighten things out. ''Unfortunately, we didn't have any accounting training at all, so right from the get-go we started putting things in the wrong areas in QuickBooks,'' said Mr. Warlick, referring to the Intuit software series for small businesses. ''I had to hire someone to come in to clean up and figure out everything that we had mischaracterized or applied to the wrong sectors.'' Some deductions had been missed and some receivables went uncollected. The urge to be masters of their financial fate has driven American entrepreneurs for generations. An estimated 671,800 enterprises with employees were created in 2005, according to the latest figures tabulated by the Small Business Administration. And the growth in the number of those new enterprises, averaging 5.6 percent for the most recent three years, may pick up because of the trend toward early retirement from other jobs, when many people turn hobbies into businesses. There is also stepped-up pressure for workers themselves to provide for retirement as traditional corporate pensions fade. In addition, the baby-boom generation has begun to reach its 60s -- and self-employment rates rise steadily with age. But whether the owner of a new business is an avid amateur photographer setting out to work weddings on his weekends in retirement, or a prime-of-life entrepreneur considering a fast-food franchise, experts say that taxes should be a fundamental concern from the outset. Tax considerations largely determine your corporate structure, whether you start as a sole proprietorship, as a partnership or as a Subchapter S, limited-liability or even full C corporation. ''Show me your recent tax returns and then I can tell you'' the most advantageous structure, said Kevin G. Bradley, an accountant in Rockville, Md. ''Your tax bracket is important because you could have a spouse who's making $100,000 a year from another job,'' Mr. Bradley observed. Other factors include the amount of capital you invest and your future financing plans, which may include selling shares. A Subchapter S corporation, for example, may save on self-employment taxes -- 15.3 percent for Social Security and Medicare this year -- but limit the amount you can put aside in tax-deferred retirement accounts. Many people, of course, earn money from sidelines, like child care or freelance writing, without doing anything more than reporting the income on Schedule C of the Form 1040 (not to be confused with C corporations filing Form 1120). Some don't bother with even that, becoming tax chiselers who may operate for years without being caught. Those who thrive, however, usually reach a point where they are forced into legitimacy. ''What usually brings people in the door if they've been living under the radar is if they're trying to buy a new house or do some financial transaction where they will need this other income to help them qualify,'' said Sharon Peters Martin, an accountant and proprietor of Advance Financial in Silver Spring, Md. ''Those are usually what make people stand up and say, 'Oh yeah, I do do this.' '' If a start-up expects annual revenue to exceed $50,000, Ms. Martin tends to favor incorporation because the resulting business is typically taxed less heavily than a sole proprietorship, though extra record-keeping might offset the savings. But the Internal Revenue Service, from which you must obtain an employer identification number and which you must satisfy as to employment, unemployment and possibly excise taxes on products or businesses, is only part of the entrepreneur's introduction to tax issues. States and sometimes county and local governments will also have their hands in your pockets. Maryland, for instance, requires most companies to pay a $300 annual fee to register a business and then assesses furniture, machinery, inventory and other assets for what is perplexingly called a personal property tax. This levy, ranging from about 1 1/2 percent to 4 percent, is imposed and collected by local jurisdictions. As elsewhere, retail businesses also have the chore of serving as collectors of the state's 5 percent sales tax on most goods. Businesses remit this at intervals, based on size. Faced with the press of daily operations, fledgling managers can make numerous mistakes; perhaps the most costly one is failing to promptly engage professional help -- especially accountants but also lawyers and, often, insurance agents. ''They don't know what they're supposed to be filing and can go two years'' before a problem is noticed when, say, one authority talks to another, Mr. Bradley said. Two issues are of particular interest to the I.R.S. One is efforts by managers of some companies to minimize Social Security and Medicare taxes by taking unreasonably low salaries and using the money instead for dividends or to repay loans. Another offense that is likely to get you into serious trouble is failure to remit taxes withheld from employees. That money carries fiduciary responsibilities that can leave an entrepreneur personally liable even if the business fails. Experts say that you should open bank accounts to be used strictly by the business, so that its funds are not mixed with personal ones. ''It's going to make tax-preparation costs a lot less than if I have to try to figure out what is business and what is not,'' said Ralph L. Benson, another area accountant, who specializes in small businesses. Although the law is complex, riddled with gray areas and subject to frequent judicial as well as legislative change, there is a wealth of tax and other information available to those who are starting businesses. The I.R.S. has an excellent Web site, www.irs.gov, which includes its 27-page Publication 583, Starting a Business and Keeping Records. The wide-ranging Small Business Administration site, www.sba.gov, can steer you to the Service Corps of Retired Executives, an S.B.A.-funded organization with 400 offices where nearly 12,000 volunteers mentor small businesses at no cost. MR. WARLICK'S 15-employee company, now called Colorworks Promotions, has evolved since its 1994 start, from a partnership to a Subchapter S corporation that did nearly $4 million of business last year. In addition to printing and embroidering apparel, Colorworks supplies businesses with mugs, mouse pads and other marketing items, and it warehouses and fills orders for online retailers. It shipped goods for the American Red Cross in the aftermath of Hurricane Katrina and in the summer of 2005 landed a large Medicare contract to distribute training literature for the government's new prescription drug plan. Taxes, even as they grew more complex as the business bought embroidery machines and other equipment to be depreciated, are no longer a headache to calculate, only to pay. Looking back, Mr. Warlick marvels at how he prospered despite having had to learn on the job such basics as the tax benefits provided by company vehicles. He learned, for example, that it is better for the company to lease vehicles than to use personal ones and deduct the business mileage. (There's also not the bother of keeping a log.) ''Our biggest mistake was probably not taking an accounting class or not hitting the community college for some kind of new-business workshop,'' he said. ''We just dove into it and then tried to figure it out.''
Copyright 2007 The New York Times Company 1150 of 1258 DOCUMENTS The New York Times
Late Edition - Final Recasting the Word Processor for a Connected World BYLINE: By MICHAEL FITZGERALD. Michael Fitzgerald writes on business, technology and culture. E-mail: mfitz@nytimes.com. SECTION: Section 3; Column 1; Money and Business/Financial Desk; PROTOTYPE; Pg. 5 LENGTH: 1182 words TIMING is the bane of those who would be innovators. Get it right and you'll be toasted. Get it wrong and you're just plain toast. Nobody knows that better than T. J. Kang, a software entrepreneur who hopes that after one decade and two failures, he may be in line for a sip of Champagne. Mr. Kang runs ThinkFree, which offers Web-based word processor, spreadsheet and presentation software that replicates much of what Microsoft's comparable applications do, and can easily exchange files and other data with Microsoft applications. ThinkFree keeps the applications, and any data entered into them, on its own servers, which means that you can gain access to your files from any computer with an Internet connection. The Web, in effect, will act as your computer. The tin-eared technology industry calls these kinds of Web applications software-as-a-service, and despite its terrible name the notion has caught on. Web-based applications appear to represent a platform shift, which in computer industry jargon signals a change that knocks down existing stalwarts and opens room for new companies to grow. The idea of Web-based applications isn't new, but the spread of broadband and the development of new software technologies makes them practical. Indeed, Web applications, in theory, can match anything we see on desktop computers and then do them one better: putting applications like spreadsheets and word processors on the Web means that several people can swap or work on the same document or spreadsheet at the same time without having to e-mail it back and forth. They also extend the drag-and-drop metaphor of the desktop computer to the Web, so one can pull a picture from a photo-sharing site like Flickr into a document. (This is called a mashup, after the music industry term for mixing song clips.) And, generally, the Web-based versions of these applications are free. ''Our vision has finally been realized,'' Mr. Kang said. But it is also true that this is the third platform shift that he has experienced in the last 10 years, and that the first two wound up knocking down almost no one. He started the company that became ThinkFree in 1997, when he was inspired by the idea of a network computer, which held that people could create and store all their work on the Web. The network computer concept fizzled, but in early 1999 he was able to snare some $24 million in venture capital and recreate his company as an ''application service provider'' that introduced its Web-based Office alternative in 2000. When that money ran out in 2003, Mr. Kang was rescued by Haansoft, an application maker in South Korea, and was able to keep going. ThinkFree now has 240,000 users, some of whom pay for it; while the online version of the product is free, if you want to keep your files to yourself, ThinkFree markets a downloadable version of its tools for $49 each. That's much less than the $400 that Microsoft charges most users for its Office 2007 suite of applications. (It must be noted that ThinkFree does not come with an e-mail product like Microsoft Outlook.) Among the buyers is Ryder System Inc., the trucking company, which purchased ThinkFree for use across its 700 field offices. Henry Wengier, director of technical services at Ryder, said mechanics, reservation agents and other workers need word processors or spreadsheets only occasionally, and ThinkFree lets them have it all; otherwise it would make no economic sense for him to install Microsoft Office on all 2,000 PCs in those offices. The deal clincher was the ability to download ThinkFree so that Ryder could run the product behind its computer network's firewall. Mr. Kang has plenty of company in the market, including the Web-based application suites Ajax13, gOffice, iNetOffice and ZoHo Virtual Office. There's also the Writeboard word processor, the EditGrid and Num Sum spreadsheets, and WikiCalc, a new spreadsheet from Dan Bricklin, the software developer who, with Bob Frankston, created the very first spreadsheet, VisiCalc, back in 1979. Meanwhile, the Web's 800-pound gorilla, Google, has its own online spreadsheet, and it bought a Web word processor, Writely, in March 2006. None of these offerings will likely make a dent in Microsoft's 97 percent share of the $10 billion global market for office suites. Instead, analysts like Mark Levitt at the IDC research firm in Framingham, Mass., say that Web offerings will complement Office, appealing primarily to people who do not want to pay to put Office on their home computers. (The cheapest version of Office is a $150 student version.) Web traffic statistics from Alexa.com and Hitwise.com suggest that these Web-based applications are still curiosities. The big advantages of Web-based applications ''are remarkably ordinary,'' said Mitchell D. Kapor, who founded the Lotus Development Corporation and now runs the Open Source Application Foundation, which is developing personal information management software. He said those advantages boiled down to not having to install and maintain software on your system, and the ability to share information more easily. But ordinary can be good, he added, and in a well-established field like desktop applications, small steps are better than big ones. ''From a business perspective, actually, too much innovation is a liability,'' Mr. Kapor said. If a product differs too much from previous technology, it can be an ''enormous deterrent'' to adoption, he said. ''A lot of innovators have run afoul of that,'' he added, ''and been shipwrecked on the rocks of inertia.'' At the moment, Mr. Kapor is trying to avoid those shoals himself. His current project is an open source personal information manager called Chandler, which started as a complete rethinking of the way calendar and contact-management software works, and is about three years behind his original schedule. A version that people can use, he said, will arrive in April -- and it will, by design, be a gentler break with the past than he intended at the start. THESE early efforts will probably open the door for substantially different ways of working. A case in point comes from Virtual Ubiquity, a start-up in the Boston area that has rethought what a Web-based word processor should be. While the word processor lacks a name and will not be publicly available until the late spring, it has been demonstrated at developer conferences, and the company's founder and chief executive, Rick Treitman, showed it to me, complete with the requisite crash caused by freshly coded features. Among these features are an elegant reworking of the menu bar, wonderfully easy ways to move and resize images on the page, and color-coded pop-up comment boxes that are a marked improvement over the ''track changes'' feature in today's word processors. Good software demonstrations do not necessarily translate to successful products, of course. But it is obvious that even the word processor, an advance on the ancient idea of the sheet of paper, still has plenty of room for innovation. A toast, then, to what will come next.
Copyright 2007 The New York Times Company 1151 of 1258 DOCUMENTS The New York Times Directory: ~hesterj -> Entrepreneur Entrepreneur -> Byline: By armand limnande section: Section mm; Column 0; T: Men's Fashion Magazine; Pg. 76 Length Download 4.36 Mb. Share with your friends:
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