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<p align="center"><img border="0" src="hronthejob.jpg" width="504" height="54"></p>
<h2 align="center">10 RULES FOR FAMILY FIRMS</h2>
<p class="MsoNormal"><font face="Verdana" size="2">Many companies in our
association are family owned and operated. There are magazines, web sites, and
consulting companies totally devoted to the complex issues of family firms.
They deal with such subjects as working together, competing siblings, children�s
spouses, succession planning, federal regulations, tax issues and who�s going to
take over the top job.</font></p>
<p class="MsoNormal"><font face="Verdana" size="2">Author and Consultant, Dr
Mark Goulston, an expert in family owned businesses, offers these basic �10
Commandments Of Family Business� as a starting point.</font></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">1. Thou shalt work harder than
any non-family employees.</font></span></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">2. Thou shalt think of thy
company�s needs before thine own.</font></span></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">3. Thou shalt not bad-mouth thy
company or family to others.</font></span></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">4. Thou shalt be accountable and
follow through.</font></span></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">5. Thou shalt match authority
with the responsibility that thou delegates.</font></span></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">6. Thou shalt make thy job easy
to understand so others can do it in thy absence, and train thy replacement if
thou leave thy job.</font></span></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">7. Thou shalt move aside when
thy security needs conflict with thy company�s growth needs and when fear clouds
thy vision.</font></span></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">8. Thou shalt remove deadwood
early.</font></span></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">9. Thou shalt treat thy
customers and thy employees better than thou expects in return.</font></span></p>
<p class="MsoNormal"><span style="font-size: 18.0pt">
<font face="Verdana" size="2">10. Thou shalt listen to one�s trusted
and respected Consultant�s advice or replace them with one�s thou dost trust and
respect. </font></span></p>
<p class="MsoNormal"><font face="Verdana" size="2">And the law does not prohibit
you from displaying these 10 Commandments in public places.</font></p>
<hr>
<h2 style="margin-left:.75in" align="center">
<font face="Verdana" color="#008000">Have an employment question?</font></h2>
<h3 style="margin-left:.75in" align="center"><font face="Verdana">Send it to
<a href="mailto:[email protected]?subject=From HR On The Job">
[email protected]</a></font></h3>
<p style="margin-left:.75in" align="center"><b><font face="Verdana" size="2">
Please include Company Name and Association in your e-mail. Company
identification will be kept confidential.</font></b></p>
<hr>
<table border="0" width="91%" height="376">
<tr>
<td width="100%" height="370">
<h2 align="left"><b><u><font
face="Verdana, Arial, Helvetica, sans-serif">Hitchhiking on the Information
Highway</font></u></b></h2>
<p align="left"><font face="Verdana, Arial, Helvetica, sans-serif"><b><font
size="4" color="#FF0000">Dateline: February 2004</font></b></font></p>
<p class="MsoNormal"><i><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">Note. Although we attempt to provide the HRU update on the first
of each month, we are normally delayed awaiting the release of several
monthly government statistical reports. We will hereafter update the information
as each report becomes available without waiting for all of them to be
released.</font></i></p>
<h3><font face="Verdana"><u><font face="Verdana, Arial, Helvetica, sans-serif">WHY
EMPLOYEES STAY</font></u></font></h3>
<p class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">Why
do employees stay with a company through good times and bad? Senior
VP at Lee Hecht Harrison, Rita Brauneck , based on her experience, listed
the following 4 statements as the most common reasons.</font></p>
<p class="MsoNormal" style="text-indent: -.5in; margin-left: .75in"> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">1.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span>Respect for the leader, or a high regard for the leadership in
general.</font></p>
<p class="MsoNormal" style="text-indent: -.5in; margin-left: .75in"> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span>Belief in where the organization is going or it�s mission.</font></p>
<p class="MsoNormal" style="text-indent: -.5in; margin-left: .75in"> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">3.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span>The opportunity to be challenged by the company.</font></p>
<p class="MsoNormal" style="text-indent: -.5in; margin-left: .75in"> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">4.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span>Opportunities for career development.</font></p>
<p class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">Many
other reasons affect whether or not employees stay or leave, including
compensation, which ranked farther down the list. But even when
money is tight and better earnings may be available elsewhere, �They�ll
stay as long as they see these things happening� said Rita.</font></p>
<h3><b><u><font face="Verdana, Arial, Helvetica, sans-serif">WHAT ARE COLLEGE
KIDS LOOKING FOR?</font></u></b></h3>
<p class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">JOBTRAK
a Los Angeles consulting firm, conducted a survey of college students
to find out what they were looking for from employers. More than
1,000 college students responded to the question �Which benefits do you
desire most?� The results :</font></p>
<ul style="margin-top: 0in; margin-bottom: 0in" type="disc">
<li class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">49%
Flexible Hours</font></li>
<li class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">15%
More Vacation Time</font></li>
<li class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">13%
Better Health Plan</font></li>
<li class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">12%
Larger Sign-on Bonus</font></li>
<li class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">9%
Stock Options</font></li>
<li class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">6%
Ability To Communicate</font></li>
</ul>
<h3><b><u><font face="Verdana, Arial, Helvetica, sans-serif">WANT TO HIRE
VETERANS?</font></u></b></h3>
<p class="MsoNormal"><font size="-1" face="Verdana, Arial, Helvetica, sans-serif">The
Destiny Group, a veteran�s career center, helps disabled vets find employment
through the �Wounded Warrior Program�. Destiny manages 36 veterans
career web sites in their quest to �Make every day Veteran�s Day�.
</font></p>
<p class="MsoNormal"><font size="-1" face="Verdana, Arial, Helvetica, sans-serif">You
can tap into that resource by accessing, <u> <a href="http://www.destinygrp.com/" style="color: blue; text-decoration: underline; text-underline: single">
http://www.destinygrp.com</a></u></font></p>
<h3><u><font face="Verdana, Arial, Helvetica, sans-serif">TEST YOUR BUSINESS
IQ</font></u></h3>
<p class="MsoBodyText2"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">Although
not directly related to HR, this test was created by Peter Constantino
CPA and partner of C&P Advisors and was so popular among business
people that we want to share it with you.</font></p>
<p class="MsoBodyText2" style="text-indent: -.5in; margin-left: .75in"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>
1.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana"> </span>If
you are negotiating to buy a business, you should generally
try to buy�.?</b></font></p>
<p class="MsoBodyText2" style="text-indent: -.25in; margin-left: 1.0in">
<font face="Verdana, Arial, Helvetica, sans-serif" size="-1">A.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span> The stock of the company</font></p>
<p class="MsoBodyText2" style="text-indent: -.25in; margin-left: 1.0in">
<font face="Verdana, Arial, Helvetica, sans-serif" size="-1">B.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span> The assets of the company</font></p>
<p class="MsoBodyText2" style="text-indent: -.25in; margin-left: 1.0in">
<font face="Verdana, Arial, Helvetica, sans-serif" size="-1">C.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span> The goodwill of the company</font></p>
<p class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><i>The
answer is B. For one thing, when you buy the stock, you step into
the company�s legal shoes and all their liability is now yours.</i></font></p>
<p class="MsoNormal" style="text-indent: -.5in; margin-left: .75in"> </p>
<p class="MsoNormal" style="text-indent: -.5in; margin-left: .75in"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>2.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana"> </span>If
you are negotiating to sell your business, you should generally
try to sell which of the above three?</b></font></p>
<p class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><i>The
answer is now A. Selling the assets is likely to produce at least
some ordinary income that will be subject to higher tax rates.</i></font></p>
<blockquote>
<blockquote>
<p> </p>
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>3. Are
gifts given to customers or clients deductible?</b></font></p>
</blockquote>
</blockquote>
<p class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><i>Yes
and no. Up to $25 per recipient per year will be deductible. But
in the event of an audit, such deductions are highly scrutinized.</i></font></p>
<p class="MsoNormal" style="margin-left:1.0in;text-indent:-47.25pt"> </p>
<p class="MsoNormal" style="margin-left:1.0in;text-indent:-47.25pt"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>4. If
you operate your business as an S-Corp, must you take a salary?</b></font></p>
<p class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><i>Yes,
the IRS requires you to take a reasonable salary. Because an S-Corp
is a pass-through entity, it may be tempting to take a very small salary
or even none at all. If you do, you might be doing a lot of explaining
to the IRS.</i></font></p>
<p class="MsoNormal" style="text-indent: -.5in; margin-left: .75in"> </p>
<p class="MsoNormal" style="text-indent: -.5in; margin-left: .75in"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>5.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana"> </span>What
advantage does an LLC have over a corporation? </b></font></p>
<p class="MsoNormal" style="text-indent: -.25in; margin-left: 1.0in"> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">A.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span>Owners are liable for fewer losses than a corporation</font></p>
<p class="MsoNormal" style="text-indent: -.25in; margin-left: 1.0in"> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">B.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span>LLC owners can determine their own allocation of profits and losses.</font></p>
<p class="MsoNormal" style="text-indent: -.25in; margin-left: 1.0in"> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">C.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span>LLC rules differ from state to state.</font></p>
<p class="MsoBodyText2"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><i>The
answer is B. Unlike a corporation, an LLC does not have to be based
on a pro rata share of ownership. With an LLC you get the pass-through
advantage like an S-Corp, but it also great for investment groups because
there are less limitations about who can be a member and who has more
equity options, says Constantino. </i></font></p>
<p class="MsoNormal" style="text-indent:.25in"> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b> </b></font></p>
<blockquote>
<blockquote>
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>
6. The definition of �break-even� is�.?</b></font></p>
<blockquote>
<p> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">A.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span> The point at which the company sales are covering only the
overhead.</font></p>
<p> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">B.<span style="font-style: normal; font-variant: normal; font-weight: normal; font-family: Verdana">
</span> The point at which sales and costs are equal.</font></p>
<p> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">C.
The point at which gross profits cover the cost of running the business.</font></p>
</blockquote>
</blockquote>
</blockquote>
<p class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><i>The
answer is B. Break-even is when revenue covers the costs of doing business.
�Every company should be aware of its break-even point� says Constantino.
�You need to know how many units cover your fixed costs�. To be able to
react if your fixed costs alter rapidly�</i></font></p>
<p class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"> </font></p>
<h2 class="MsoNormal"><font face="Verdana, Arial, Helvetica, sans-serif"><span style="text-decoration: none"><b><u>QUOTES
OF THE MONTH</u></b></span></font></h2>
<span style="text-decoration: none"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">
<p class="MsoNormal"><font size="2">�Never confuse movement with action�</font></p>
<blockquote>
<blockquote>
<blockquote>
<blockquote>
<h3><span style="font-weight: 400"><i><font size="2">Ernest Hemmingway</font></i></span></h3>
<h3> </h3>
</blockquote>
</blockquote>
</blockquote>
</blockquote>
<h3><span style="font-weight: 400"><font size="2">�There is only one valid
definition of a business: To create a customer�</font></span></h3>
<blockquote>
<blockquote>
<blockquote>
<blockquote>
<p class="MsoNormal"><i><font size="2">Peter F. Drucker</font></i></p>
</blockquote>
</blockquote>
</blockquote>
</blockquote>
<p class="MsoNormal"><span style="font-size: 14.0pt"> </span></p>
<p class="MsoBodyText2"><font size="2">�The difference between Literature
and Journalism, is that Journalism is now unreadable and Literature is
now unread�</font></p>
<blockquote>
<blockquote>
<blockquote>
<blockquote>
<p class="MsoNormal"><i><font size="2">Unknown</font></i></p>
</blockquote>
</blockquote>
</blockquote>
</blockquote>
<p class="MsoNormal"><font size="2"> </font></p>
<p class="MsoNormal"><font size="2">�You can learn new things at any time
in your life if you�re willing to be a beginner. If you actually
learn to like being a beginner, the whole world opens up to you.�</font></p>
<blockquote>
<blockquote>
<blockquote>
<blockquote>
<p class="MsoNormal"><i><font size="2">Barbara Sher</font></i></p>
</blockquote>
</blockquote>
</blockquote>
</blockquote>
<p class="MsoNormal"><i><font size="2"> </font></i></p>
<p class="MsoNormal"><font size="2">�I know a lot of people without brains
who do an awful lot of talking�</font></p>
<blockquote>
<blockquote>
<blockquote>
<blockquote>
<p class="MsoNormal"><i><font size="2">The Scarecrow from OZ</font></i></p>
</blockquote>
</blockquote>
</blockquote>
</blockquote>
<hr width="75%">
<table border="0" width="33%">
<tr>
<td width="64%" valign="top">
<div style="border-style: solid; border-width: 1; padding-left: 4; padding-right: 4; padding-top: 1; padding-bottom: 1">
<p align="left"><font size="-1"
face="Verdana, Arial, Helvetica, sans-serif"><b>Minimum Wage:</b></font></p>
</div>
</td>
<center>
<td width="100%" valign="top"><font size="-1"
face="Verdana, Arial, Helvetica, sans-serif">$5.15/hr.</font></td>
</center>
</tr>
</table>
<table border="0" width="99%">
<tr>
<td width="13%" valign="middle" style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-style: solid; border-top-width: 1"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>Average
Hourly Income:</b></font></td>
<td width="67%" style="border-left-style: solid; border-left-width: 1">
<table border="1" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="AutoNumber4" height="76">
<tr>
<td width="100%" height="76">
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="AutoNumber5">
<tr>
<td width="50%" align="center"><b><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">Hourly</font></b></td>
<td width="50%" align="center"><b><font size="-1" face="Verdana, Arial, Helvetica, sans-serif">Weekly</font></b></td>
</tr>
</table>
<table border="1" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="AutoNumber6" height="50">
<tr>
<td width="25%" height="50">
<p align="center"><u><font size="-1">January 2003</font></u><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><br>
$15.26</font>
</td>
<td width="25%" height="50">
<p align="center"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><u>
January 2004<br>
</u>$15.56</font>
</td>
<td width="25%" height="50">
<p align="center"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">
<u>January 2003</u><br>
$509.68</font>
</td>
<td width="25%" height="50">
<p align="center"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">
<u>January 2004</u><br>
$516.59</font>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
<td width="20%">
<table border="0" width="99%" height="78">
<tr>
<td width="100%" height="40">
<p align="center"><font size="-1"
face="Verdana, Arial, Helvetica, sans-serif"><b><u>Family of<br>
Four</u></b></font>
</td>
</tr>
<tr>
<td width="100%" height="30">
<p align="center"><font size="-1"
face="Verdana, Arial, Helvetica, sans-serif">$64,000 (annual)</font>
</td>
</tr>
</table>
</td>
</tr>
<tr>
<td width="13%" bgcolor="#C0C0C0" style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1; border-bottom-style: solid; border-bottom-width: 1"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>Federal<br>
Poverty Level:</b></font></td>
<td width="67%" bgcolor="#C0C0C0" style="border-left-style: solid; border-left-width: 1"> </td>
<td width="20%" bgcolor="#C0C0C0">
<p align="center"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">$17,650 (annual)</font>
</td>
</tr>
</table>
<hr noshade color="#000000">
<table border="0" width="99%">
<tr>
<td width="100%" style="border-style: solid; border-width: 1">
<h3><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><b><u>Benefits <br>
</u></b><i>as a Percentage of Payroll</i></font></h3>
</td>
</tr>
</table>
<table border="0" width="100%" height="275" style="border-collapse: collapse" bordercolor="#111111" cellpadding="2">
<tr>
<td width="31%" height="45" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>1997</b></font></p>
</td>
<td width="5%" height="45" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>24.8%</b></font></p>
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font size="-1"><b><font face="Verdana, Arial, Helvetica, sans-serif">
1998</font></b></font></p>
</td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>23.4%</b></font></p>
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font size="-1"><b><font face="Verdana, Arial, Helvetica, sans-serif">
1999</font></b></font></p>
</td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>22.8%</b></font></p>
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font size="-1"><b><font face="Verdana, Arial, Helvetica, sans-serif">
2000</font></b></font></p>
</td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>26.1%</b></font></p>
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font size="-1"><b><font face="Verdana, Arial, Helvetica, sans-serif">
2001</font></b></font></p>
</td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>27.1%</b></font></p>
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font size="-1"><b><font face="Verdana, Arial, Helvetica, sans-serif">
2002</font></b></font></p>
</td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>
30.0%</b></font></p>
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<span style="text-decoration: none"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">
<b><i> In 2002, employee benefits represented 30% of the total compensation
an employee received.</i></b>
<p><b><i> Those benefits ranked are:</i></b>
</font></span>
<p>
</td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<span style="text-decoration: none"><font size="-1" face="Verdana, Arial, Helvetica, sans-serif">
Health Care Benefits</font></span></td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<span style="text-decoration: none"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">
11.5%</font></span>
<p>
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<span style="text-decoration: none"><font size="-1" face="Verdana, Arial, Helvetica, sans-serif">
Paid Time Off</font></span></td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<span style="text-decoration: none"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">
10.4%</font></span>
<p>
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<span style="text-decoration: none"><font size="-1" face="Verdana, Arial, Helvetica, sans-serif">
Retirement Savings Plan</font></span></td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<span style="text-decoration: none"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">
8.1%</font></span>
<p>
</td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
<span style="text-decoration: none"> <font size="-1" face="Verdana, Arial, Helvetica, sans-serif"><b>Total
Benefits (As a percentage of total compensation)</b></font></span></td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
<span style="text-decoration: none"> <font size="-1" face="Verdana, Arial, Helvetica, sans-serif"><b>
30%</b></font></span></td>
</tr>
<tr>
<td width="31%" height="46" valign="top" bordercolor="#000080" bgcolor="#C0C0C0">
</td>
<td width="5%" height="46" valign="top" align="left" bordercolor="#000080" bgcolor="#C0C0C0">
</td>
</tr>
</table>
<hr noshade color="#000000">
<b>
<table border="0" width="100%">
<tr>
<td width="37%" style="border-style: solid; border-width: 1">
<p align="left"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><b>IRS Mileage Allowance :</b></font></p>
</td>
<center>
<td width="63%" style="border-left-style: solid; border-left-width: 1">
<div align="left"><font size="-1"><b>37.5</b> </font><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">cents per mile<br>
</font></div>
</td>
</center>
</tr>
</table>
<table border="0" width="100%" bgcolor="#C0C0C0">
<tr>
<td width="32%" style="border-style: solid; border-width: 1">
<p align="left"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><b>Postage:</b></font></p>
</td>
<center>
<td width="68%" style="border-left-style: solid; border-left-width: 1"> </td>
</center>
</tr>
<tr>
<td width="32%" style="border-top-style: solid; border-top-width: 1"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">1 oz.</font></td>
<td width="68%"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">.37</font></td>
</tr>
<tr>
<td width="32%"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">Each additional ounce</font></td>
<td width="68%"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">.23</font></td>
</tr>
<tr>
<td width="32%"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><i>Postcards</i></font></td>
<td width="68%"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">.23</font></td>
</tr>
</table>
</b>
<hr noshade color="#000000">
<b>
<p>
<table border="0" width="38%" bgcolor="#FFFFFF" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" cellspacing="0">
<tr>
<td width="100%" style="border-style: solid; border-width: 1"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><b>Where Uncle Sam got his money in 2003:</b></font></td>
</tr>
</table>
<p align="center"> <img border="0" src="../graphics/2003usrevenue.gif" width="630" height="371"></p>
<hr noshade color="#000000">
<table border="0" width="38%" bgcolor="#C0C0C0" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" cellspacing="0">
<tr>
<td width="100%" style="border-style: solid; border-width: 1"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><b>Where your federal tax dollar went in 2003:</b></font></td>
</tr>
</table>
<p align="center"> <img border="0" src="../graphics/2003usbudget.gif" width="632" height="402"></p>
<hr noshade color="#000000">
<table border="0" width="98%">
<tr>
<td width="34%" style="border-style: solid; border-width: 1">
<p align="left"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><b><u>Population:</u></b></font></p>
</td>
<center>
<td width="82%" style="border-left-style: solid; border-left-width: 1"> </td>
</center>
</tr>
<tr>
<td width="34%" style="border-top-style: solid; border-top-width: 1"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><b>World</b></font></td>
<td width="82%">
<p align="left"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">6.3 Billion</font>
</td>
</tr>
<tr>
<td width="34%"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><b>U.S.</b></font></td>
<td width="82%">
<p align="left"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">292.3 Million</font>
</td>
</tr>
</table>
</b>
<hr noshade color="#000000">
<table border="1" width="99%" bgcolor="#C0C0C0">
<tr> <b>
<td width="48%" style="border-style: solid; border-width: 1">
<p align="left"><b> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">U.S.
Workforce</font></b></p>
</td>
</b>
<center>
<td width="12%" align="center"><b><u><font size="-1">January 2003</font></u></b></td>
<b>
<td width="12%" align="center"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><u><b> January
2004 </b></u></font></td>
</b>
</center>
</tr>
<tr>
<td width="48%"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">U.S. Civilian Workforce</font></td>
<td width="12%" align="center"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1">144,8</font><font size="-1">75,000</font></td>
<td width="12%" align="center"><font size="-1">146,863,000</font></td>
</tr>
<tr>
<td width="48%"><font size="-1">Number Employed</font></td>
<td width="12%" align="center"> <font size="-1">136,447,000</font></td>
<td width="12%" align="center"> <font size="-1">138,566,000</font></td>
</tr>
<tr>
<td width="48%"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">Number Unemployed</font></td>
<td width="12%" align="center"> <font size="-1">8,428,000</font></td>
<td width="12%" align="center"> <font face="Verdana, Arial, Helvetica, sans-serif" size="-1">
8,</font><font size="-1">297,000</font></td>
</tr>
<tr>
<td width="48%"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1">Unemployment Rate</font></td>
<td width="12%" align="center">
<p><font size="-1">5.7</font><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">%</font></p>
</td>
<td width="12%" align="center">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">5.6%</font></p>
</td>
</tr>
</table>
<hr noshade color="#000000">
<p><b>COMPARATIVE WORLD UNEMPLOYMENT RATE FOR MID-YEAR 2003:</b></p>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="AutoNumber7">
<tr>
<td width="40%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">France</font></td>
<td width="60%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">9.2%</font></td>
</tr>
<tr>
<td width="40%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">Germany</font></td>
<td width="60%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">9.2%</font></td>
</tr>
<tr>
<td width="40%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">Canada</font></td>
<td width="60%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">7.0%</font></td>
</tr>
<tr>
<td width="40%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">Sweden</font></td>
<td width="60%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">6.1%</font></td>
</tr>
<tr>
<td width="40%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">United
States</font></td>
<td width="60%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">6.1%</font></td>
</tr>
<tr>
<td width="40%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">Japan</font></td>
<td width="60%"><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">5.5%</font></td>
</tr>
</table>
<hr noshade color="#000000">
<table border="0" width="98%" bgcolor="#FFFFFF" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" cellspacing="0" height="96">
<tr>
<td width="25%" style="border-style: solid; border-width: 1" height="48">
<p align="left"><font face="Verdana, Arial, Helvetica, sans-serif"
size="-1"><b>Absentee Rates (annualized)</b></font></p>
</td>
<center>
<td width="10%" align="center" valign="top" style="border-left-style: solid; border-left-width: 1" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b><u>1997</u></b></font></td>
<td width="10%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b><u>1998</u></b></font></td>
<td width="11%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b><u>1999</u></b></font></td>
<td width="11%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b><u>2000</u></b></font></td>
<td width="11%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b><u>2001</u></b></font></td>
<td width="11%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b><u>2002</u></b></font></td>
<td width="11%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b><u>3rd Quarter<br>
2003</u></b></font></td>
</center>
</tr>
<tr>
<td width="25%" style="border-top-style: solid; border-top-width: 1" height="48">
<font face="Verdana, Arial, Helvetica, sans-serif" size="-1">Men equal
approximately 1/3 of all absenteeism<br>
Women approximately 2/3</font></td>
<td width="10%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.0%</font></td>
<td width="10%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.6%</font></td>
<td width="11%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.4%</font></td>
<td width="11%" align="center" valign="top" height="48"><font
face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.9%</font></td>
<td width="11%" align="center" valign="top" height="48">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.1%</font></p>
</td>
<td width="11%" align="center" valign="top" height="48">
<p><font size="-1">3.6</font><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">%</font></p>
</td>
<td width="11%" align="center" valign="top" height="48">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">1.9%</font></p>
</td>
</tr>
</table>
<hr noshade color="#000000">
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="AutoNumber3" bgcolor="#C0C0C0">
<tr>
<td width="100%">
<h4><b><font size="2" face="Verdana, Arial, Helvetica, sans-serif">PRODUCTIVITY
OF THE AMERICAN WORKFORCE</font></b><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><br>
(The amount of goods produced, divided by the number of work hours
it took to produce it)</font></h4>
</td>
</tr>
</table>
<p>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="AutoNumber2" bgcolor="#C0C0C0">
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>1992</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">3.7%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>1993</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">0.5%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>1994</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">1.3%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>1995</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">0.9%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>1996</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.5%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>1997</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.0%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>1998</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.6%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>1999</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.4%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>2000</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">2.9%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>2001</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">1.1%</font></p>
</td>
</tr>
<tr>
<td width="32%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1"><b>2002</b></font></p>
</td>
<td width="68%">
<p><font face="Verdana, Arial, Helvetica, sans-serif" size="-1">4.7%</font></p>
</td>
</tr>
<tr>
<td width="32%"> </td>
<td width="68%"> </td>
</tr>
</table>
</font></span>
<h3 align="center"><span style="text-decoration: none"> <font face="Verdana, Arial, Helvetica, sans-serif" size="2"><b>UP
8.1% IN THE 3<sup>rd</sup> QUARTER OF 2003</b></font></span></h3>
</td>
</tr>
</table>
<p><font face="Verdana" size="2">� 2004 William J. Cook</font></p>
</body>
</html>