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Akron Chapter IMA Newsletter |  |
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Dear Members:
Please join your fellow Akron Chapter Members for
Awards Night. Shirley Calvin
Fellow Akron IMA Members: As fall fast approaches, we find ourselves busy once again with the activities of our families, the activities of school, and the activities of life. We need to remember to take time for ourselves and our own professional development. Please join me on October 21 for two hours of interesting professional development. For this month your board has presented a session in which we explore the fundamentals of a business. Please join in welcoming David Wehrle, who will be exploring Cash Flow Management and Analysis for the pre-tech session, and then join in exploring the legal issues of starting a business, with Stephen Cook As we continue to strive for excellence, come and join your fellow IMA Members for the recognition of their own strides of excellence. October is Awards Night, where we will be recognizing the efforts of length of service, perfect attendance, Member of the Year and Associate Director of the Year.
It is an honor, and a privilege,
Pre-Technical Session
DAVID M. WEHRLE, CTP, CFA, CIRA Dave Wehrle is partner and practice leader for BMF Advisors, LLC. Dave has more than 30 years of financial and operational experience. He has served as advisor to companies, secured creditors and unsecured creditors committees in out-of-court restructurings, receiverships and in formal bankruptcy proceedings. He is a Certified Turnaround Professional (CTP), a Chartered Financial Analyst (CFA), and a Certified Insolvency and Restructuring Advisor (CIRA). Dave has extensive experience in manufacturing and metals-related industries. His most notable cases include Delphi Corporation, Tower Automotive, LTV Corporation, National Steel, Rouge Steel, Ormet Corporation, Horsehead Industries, Special Metals, and Republic Technologies. His related experience included seven years of restructuring and advisory work with FTI Consulting and PricewaterhouseCoopers' Business Recovery Services and 20 years with North American Refractories Company (NARCO). His specializations include receiverships and trusts, supply chain management, business plan formulation, liquidity management, lender and creditor advisory services, advising on the sale or purchase of businesses and assets, bankruptcy preparation, and reorganization plan negotiation. Dave received a BS in Materials Science and Engineering from the Massachusetts Institute of Technology and a Master of Science in Engineering from MIT. Among his professional and civic memberships are the following: CFA Institute, Board member of Turnaround Management Association, Association of Insolvency & Restructuring Advisors, and Association of Corporate Growth Cleveland.
Tangier Restaurant
STEPHEN R. COOK Stephen R. Cook is a Clinical Professor of Law, and serves as Director of the New Business Legal Clinic, the Trial Litigation Clinic, Supervisor of the Mahoning County Misdemeanant Inmate Assistance Program, and Director of Bar Preparation at The University of Akron School of Law. He received his B.S. from The University of Maryland, M.A. from Kent State University, and J.D. from The University of Akron. Professor Cook teaches Seminar: New Business Legal Clinic and Seminar: Business Planning. He is admitted to practice in Ohio and before the U.S. District Court for the Northern District of Ohio. Professor Cook's professional memberships include the American Bar Association, the Ohio State Bar Association, Akron Bar Association, and the Ohio Bar College. Prior to joining the faculty at Akron Law, Professor Cook was a magistrate for the Village of Smithville Mayor's Court, and in private practice with Cook & Schmitt, LLP, and an attorney at Critchfield, Critchfield & Johnson, LTD. He joined the faculty at the University of Akron in 2002. Recently, Professor Cook was presented with the 2009 Outstanding Professor of the Year Award.
October 21, 2009 All regularly scheduled Wednesday monthly meetings will be held at Tangiers Restaurant except for February 17, 2010 which will be held at The University of Akron Martin Center.
Dinner cost for the regular meetings is $25
(or $23
using the Pay Pal option) and $10 per Pre-Tech
Session.
Please join us in welcoming the following students from Youngstown State University: James Anderson, Ashley Bechtel, Danielle Bruner, Krissy Burrows, David Castronova, Jimmy Ciccone, James Cook, Karen Cooper, Amanda Dilullo, Tera Fridley, Courtnee Greshner, Hai Zhui Huang, Kayla Huffman, Mikhalla Kalouns, Bryant Kelley, Seleana Mahdee, Kristen Mihalko, David Minnie Jr., Raphe Neopolitan, Matthew Pollock, Alyssa Rich, Carly Roberts, Patty Ryser, Amy Sanor, Jenna Santisi, Sarah Sivulich, Joshua Susany, Jacqueline Thomas, Anthony Valley, Anthony Velez, and Kelcie Witmer. All were sponsored by Mark Cornman.
Also joining were the following students from Walsh
University: Caitlin Hoak and Dominic Reolfi.
The Akron Chapter Board has approved a $25.00 reward to Akron Chapter members who get either a new regular member or young professional member to join our chapter. A maximum of $100.00 can be earned by any one member for the current competition year (May '09 - April '10). This program is in addition to the current membership drive being conducted by IMA National. The reward is retroactive back to May 1, 2009. If you have sponsored a new member, please let us know. Membership and participation are crucial to any organization. We need to increase our membership and improve upon the participation of our current members. If you feel you may want to contribute, we have a spot for you. We need you!
The Board of Directors is always in need of new people and new ideas. Get the most out of your IMA chapter by joining the Board of Directors. If you are interested in serving on the Board, please contact any current Board member for information.
IMA Akron Chapter The CMA Review course will return again this fall at the University of Akron through the Continuing Education Department. Please contact the University CED at (330) 972-7577 or Steve Law, IMA Akron Chapter Director of CMA Education (330) 666-8395
Part 3 Strategic Management - September 12 &
19 ; October 3 & 10
Please contact Roy Howarter if you have a job available or are looking for an employment opportunity. Roy Howarter - Akron IMA Employment Director, 1- 800-321-5583
We produce about 400 Akron Chapter IMA Annual Program Books each year at a cost of about $7/book. We would like you, the chapter members and users of the book, to let us know if you find value in the book.
Please respond to next year's President, Dean Hull at
330-659-5930, x 232 or Dean Hull
Do you use the book?
The web page or a file e-mailed to you?
If we do continue to produce the book, would you like
any changes in format? Your opinions are needed. We are going to address the issues around the Program Book in the early fall. It is the goal of your chapter Board to bring to you the members the information, programs and activities to increase your appreciation of the IMA experience.
The Annual Program Books went in the mail on September 14; most books were delivered on September 17. For those chapter members who moved but didn't advise IMA national of their new addresses, we will re-mail books to forwarding addresses as advised by the Post Office. Please note the survey on page 97 (and above) of the book where we ask your opinion about what, if any, changes should be made to the book.
Please join us on October 21 in extending
congratulations to the following chapter members for
the 2008-09 IMA year:
Perfect Attendance Awards/Recognition:
Congratulations are also in order for the following:
Page 27 of your Annual Program Book talks about the Charles J. Pilliod Lecture Series at KSU. The first lecture is scheduled for Tuesday, October 27, at 5:30 PM in the Ballroom at the KSU Student Center. A reception will follow the lecture. Speaker is Myron Scholes, Chairman of Platinum Grove Asset Management that manages an alternative investment fund, specializing in risk transfer and liquidity- provision services to the global wholesale capital markets. Professor Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford University Graduate School of Business since 1996. He is co-originator of the Black-Scholes options pricing model, which is the basis of the pricing and risk-management technology that is used to value and to manage the risk of options contained in instruments around the world. For this work, he was awarded the Alfred Nobel Memorial Prize in Economic Sciences in 1997. All Pilliod lectures are free and open to the public.
As tough as this economic environment may be, it also presents opportunities for prudent yet forward- looking companies. Layoffs and hiring freezes have put many top-notch people out of work, which means this can be an opportune time to acquire highly skilled performers who would be harder to recruit - or unavailable - in sunnier times. Still, this doesn't mean the best professionals are easy to find. Despite high unemployment rates across the United States and an expanded pool of available talent, employers interviewed for the Robert Half International and CareerBuilder.com 2009 Employment Dynamics and Growth Expectations (EDGE) Report said that, on average, 44 percent of resumes they receive are from unqualified candidates. If your company would like to pursue this unique opportunity to strengthen its talent bench, consider these cost-effective strategies for locating the best accounting professionals in the job market: Use in-house connections. Even with tight budgets, it's smart to continue (or start) offering employee referral bonuses. These high-reward, relatively low- cost programs give team members strong incentive to be on the lookout for candidates who'll fit in well at your firm. Ask employees to keep their eyes and ears peeled for talented friends, business associates and former classmates who are now available. Keep in contact. The grass isn't always greener on the other side. That's why it pays to stay in touch with team members who've left your firm. There are many benefits to rehiring strong performers. "Boomerang employees" have a proven track record and possess invaluable insight into your company. This knowledge minimizes training expenses and ramp-up time, enabling them to make significant contributions quickly. Connect with a staffing specialist. According to the EDGE Report, it can take up to 14 weeks to fill an open position. Recruiters specializing in the accounting field can shorten that timeline by tapping into their well-cultivated networks. An experienced and reputable staffing firm also can help you by conducting initial interviews, skills evaluations and reference checks. Finally, go on re-recruiting missions. While you're strengthening your talent bench, don't forget the talent you already have. Your best and brightest are in demand in any economy. Be proactive and sell your stars on their employment with your firm before you lose them to competitors. Ask about their career aspirations and consistently direct them toward opportunities or programs that will help them reach their objectives. Frequently offer gratitude for standout work and present them with a clear vision of their bright future with your organization. To download the EDGE Report, please visit www.rhi.com/EDGEReport2009. Accountemps is the world's first and largest temporary staffing service specializing in the placement of accounting, finance and bookkeeping professionals. The company has more than 360 offices worldwide and offers online job search services at www.accountemps.com.
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email:
floyd@sssnet.com
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