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Building Bridges Newsletter
Supporting businesses by lending good money to good businesses!
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Winter is upon us! We hope you enjoy our newsletter which bundles the Thanksgiving, Christmas and New Years holidays. This is the season for family and friends to celebrate with parties, food and friendship and, appropriately, our featured entrepreneur is Barney Kroger, founder of the Kroger grocery chain. Also, you might find our "Winter Business Book Pick," Celebrating Success! Fourteen Ways to Create a Successful Company by Ron Finklestein, a great read for the business-minded folks on your Christmas list. We have recently upgraded our website to provide a more user-friendly environment to our site visitors. Your feedback on our new site is most welcome and we invite you to share it with others: Blessings to you, your families and friends during this special time of year. Happy Winter! Lisa Hultz |
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Featured Entrepreneur: Bernard Henry Kroger
 Barney Kroger was born in Cincinnati, Ohio on January 24, 1860. He was the fifth of ten children of German immigrants. The family lived above a dry goods store that his parents owned. His father went bankrupt in the 1873 economic panic, which led Barney (then 13 years old) to quit school and work to help support the family. His first job was at a drug store, before working as a farmhand (where he came down with malaria and returned home). He then worked as a door-to-door salesman for Great Northern and Pacific Tea Co., then the William White Company, eventually going to work as a wagon route salesman at Imperial Tea Co. When Imperial Tea faced financial hardships, he was promoted to manager with a 10% share of the profits (which were virtually non-existent). A stickler for quality and the personality to demand it, Barney built a following of wage-earner's wives for the store through word-of-mouth advertising.
 After one year as manager at Imperial Tea and with a savings of $372 (a considerable sum in 1883), Barney approached the owners with an offer to buy a one-third interest in the company, which they refused, offering instead an increased share of the profits. Barney, intent on owning a portion of the store, borrowed $350 from a friend and opened his own tiny store in Cincinnati, "The Great Western Tea Company." Initial setbacks included the loss of his one horse-drawn wagon in a train crossing accident, a flood which destroyed the store's initial stock, and his landlord's attempt to increase the store's rent (which forced Barney to move to a lesser location on a side street), but Barney persevered.
Within months, Barney opened a second store, and by mid-1885, he added another two locations. By 1893, after ten years in business, he had 17 stores and was considered one of the most successful businessmen in Cincinnati. In 1902, the company was renamed "The Kroger Grocery and Baking Company" -- the word "baking" reflected Barney's plans to set up the company's own bakery, selling bread at two loaves for a nickle (half the going price) to help build business for his stores. With Cincinnati's large thrifty German bread-consuming population, projected sales were 25,000 loaves per day.
 In 1904, the company purchased the Nagel butcher shop chain, and over objections of his butchers for losing their independence and new bookkeeping requirements, Barney gradually integrated them into the Kroger stores which proved to be a huge success. With a solid base of stores, Barney began to expand to other areas of the country, much of which was attained through acquisition of Piggly Wiggly, Kohn Stores, Bowers grocery stores and Universal Stores in various regions.
In December 1927, Barney stepped down as president of Kroger and sold his stock in the company to Lehman Brothers but stayed on as chairman. He later repurchased a huge block of Kroger stock to help bolster confidence in the company through the depression years that followed. In November 1931, with nearly 4,900 stores in operation he retired altogether. Barney Kroger passed away on July 21, 1938 (age 78) of a heart attack in Cape Cod, Massachusetts, leaving behind a wife and seven children, and the largest company in America whose mainline business is supermarkets.
 Barney Kroger's business principles that made his first tiny Kroger grocery store successful in 1883 -- service, selection and value -- continue to guide the company's operations today. The Kroger Company operates 2,419 grocery retail stores in 31 states under nearly two dozen banners; 784 convenience stores under six banners in 19 states; 322 fine jewelry stores; 37 food processing or manufacturing facilities producing private-label products; 1,182 supermarket fuel centers; and 1,947 pharmacies (located in combination food and drug stores).
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Numbers in the News
 A Minnesota man basted a 72-pound turkey to defeat his sister in their annual sibling rivalry over who can prepare the biggest Thanksgiving bird. Rich Portnoy roasted his enormous turkey in his 36-inch-wide, chef-calibre oven on Thanksgiving Day to top the biggest bird his sister had ever cooked by 25 pounds. Big turkeys are a tradition in the Portnoy family. Rich Portnoy said his father cooked birds of 30 pounds or more years ago. Last year, Andra Portnoy cooked a 47-pounder to take the lead after her brother could only find a 37-pounder, even though he lives in the nation's top turkey-producing state.
Last year, Rich Portnoy approached the Minnesota Turkey Growers Association, which helped him find an 85-pound breeding tom that, at 59 weeks old, was near the end of its useful life. He bought the turkey for $30, loaded the live bird into the back of the family's car and drove it to a processor, where it was made oven-ready at 72 pounds. Portnoy and his wife, Charlene, invited 26 people to Thursday's feast. They weren't sure if the big old tom would be edible, so Portnoy also cooked a 19-pound "backup turkey" on the backyard grill. (Source: www.guy-sports.com)
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How does Mazon provide collection services?
 Within our scope of factoring services to clients, Mazon Associates performs soft collections on all past-due invoices which consists of non-harassing, courtesy telephone calls to a customer's accounts payable department asking for payment information. We also mail overdue statements to customers each week until payment(s) is received. If a customer requests a replacement invoice and/or backup documentation, we will provide that to them by fax or email. Mazon is not a collection agency nor do we utilize collection agencies. If any invoice remains unpaid, it is charged back to the client's account 90 days from the original invoice date. At that time, collection of the invoice becomes the responsibility of the client.
If you would like to find out more about our services for your business and/or apply for an account with Mazon Associates, please phone us at 972-554-6967 (toll-free 800-442-2740 or visit our website a www.Mazon.com.
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Shopping Online
 The holiday season is ripe for online shopping scams. OnGuardOnline offers these tips for consumers:
Know who you're dealing with. Anyone can set up shop online under almost any name. Confirm the online seller's physical address and phone number in case you have questions or problems. And if you get an email or pop-up message that asks for your financial information while you're browsing, don't reply or follow the link. Legitimate companies don't ask for information that way.
Know what you're buying. Read the seller's description of the product closely, especially the fine print. Words like "refurbished," "vintage," or "close-out" may indicate that the product is in less-than-mint condition, while name-brand items with bargain basement prices could be counterfeits.
Know what it will cost. Check out websites that offer price comparisons and then compare "apples to apples." Factor shipping and handling into the total cost of your purchase. Do not send cash or money transfers under any circumstances.
Check out the terms of the deal, like refund policies and delivery dates. Can you return the item for a full refund if you're not satisfied? If you return it, who pays the shipping costs or restocking fees, and when you will get your order? A Federal Trade Commission (FTC) rule requires sellers to ship items as promised or within 30 days after the order date if no specific date is promised. Many sites offer tracking options so you can see exactly where your purchase is and estimate when you'll get it.
Pay by credit card. If you pay by credit or charge card online, your transaction will be protected by the Fair Credit Billing Act. Under this law, you can dispute charges under certain circumstances and temporarily withhold payment while the creditor investigates them. In the event that someone uses your credit card without your permission, your liability generally is limited to the first $50 in charges. Some companies guarantee that you won't be held responsible for any unauthorized charges made to your card online; some cards provide additional warranty, return and purchase protection benefits.
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IRS Season of Giving Tips
 December is traditionally a month for giving generously to charities, friends and family. But it's also a time that can have a major impact on the tax return you'll file in the New Year. Here are some "Season of Giving" tips from the IRS covering everything from charity donations to refund planning.
Contribute to qualified charities. If you plan to take an itemized charitable deduction on your 2013 tax return, your donation must go to a qualified charity by Dec. 31. Ask the charity about its tax-exempt status and/or visit IRS.gov (Exempt Organizations Select Check tool) to check if your favorite charity is a qualified charity. Gifts given to individuals, whether to friends, family or strangers, are not deductible.
What you can deduct. You generally can deduct your cash contributions and the fair market value of most property you donate to a qualified charity. Special rules apply to several types of donated property, including clothing or household items, cars and boats.
Keep records of all donations. You need to keep a record of any donations you deduct, regardless of the amount. You must have a written record of all contributions (including cash) to claim a deduction.
Gather records in a safe place. As long as you're gathering those records for your charitable contributions, it's a good time to start rounding up all documents you will need to file your tax return in 2014 and store them in a safe place for easy access for when you file your tax return.
Plan ahead for major purchases. If you are making major purchases during the holiday season, don't base them solely on the expectation of receiving your tax refund before the bills arrive as many factors can impact the timing of a tax refund.
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Clean Up After the Party
 Josephine Garis Cochrane (1839-1913) made the first practical mechanical dishwasher in 1886 in Shelbyville, Illinois. Josephine was a wealthy socialite who held many fancy dinner parties. She did not do any of the dishes herself because she had servants to do that for her, but she wanted a machine that could do the job faster without chipping any dishes. No one had invented such a machine so she built one herself (she is said to have exclaimed, "If nobody else is going to invent a dish-washing machine, I'll do it myself!"). First, she measured the dishes. Then she built wire compartments, each specially designed to fit either plates, cups, or saucers. The compartments were placed inside a wheel that lay flat inside a copper boiler. A motor turned the wheel while hot soapy water squirted up from the bottom of the boiler and rained down on the dishes. Her friends were very impressed and had her make dish-washing machines for them, calling them the "Cochran dish-washer." The word was spread and soon Josephine was getting orders for her dish-washing machine from restaurants and hotels in Illinois. She patented her design on December 28, 1886 (patent #355,139) and went into production under the name Garis-Cochran Dish-Washing Company (aka Garis-Cochran
Manufacturing Company).
Josephine showed her invention at the 1893 Chicago World's Fair and won the highest prize for "best mechanical construction, durability and adaptation to its line of work."
Since most homes' hot water heaters at the time could not supply the amount of hot water the dishwasher required, the machine's large size limited the company's sales. It was not until the 1950s that increased availability of hot water in the home, effective dishwashing detergent, and a change in attitudes toward housework made dishwashers popular with the general public. In 1949, the first Kitchen-Aid dishwasher (based on Josephine's design) was introduced to the public.
(The Garis-Cochran Manufacturing Company became part of KitchenAid, and later a part of Whirlpool.) (Note: Josephine changed her last name from Cochran to Cochrane but used Cochran in her business.)
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Product Recalls
The following recent recalls were issued by the U.S. Consumer Product Safety Commission. More details can be found at www.cpsc.gov. To report a dangerous product or a product-related injury, call CPSC's hotline at 800-638-2772. (Note: To read more about a listed recall, search Recall and given number on the internet.) #14-001, APC SurgArrest Surge Protectors (Mfg: American Power Conversion, now Schneider Electric IT, West Kingston, RI); #13-288, Frigidaire Professional Blenders (Dist: Electrolux Home Care Products, Charlotte, NC); #13-287, Chiller-Based Water Dispensers (Dist: Waterlogic Commercial Products, Omaha, NE); #13-247, Subaru Portable Gasoline Generators (Imp: Robin America, Lake Zurich, IL); #13-248, Viking Built-In Refrigerators with Bottom Freezers (Mfg: Viking Range, Greenwood, MS); #13-249, Soleil Portable Fan Heaters (Imp: Home Depot USA, Atlanta, GA); #13-273, Vitamix 64-Ounce Low-Profile Container (Mfg: Vita-Mix, Cleveland, OH); #13-280, Visonic Amber Classic and Amber SelectX Personal Emergency Response System (PERS) Kits (Imp: Visonic, Westford MA); #13-283, Dehumidifiers (Mfg: Gree Electric Appliances, China; many importers and stores); #13-285, Ceiling-Mounted Light Fixture (Imp: Dolan Designs, Portland OR). |
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Holiday Trivia!
o The wobbly little thing on a turkey's chest is the turkey's beard and is made up of keratin bristles -- the same substance that forms hair, nails, wool, feathers and horns.
 o In the U.S.A., about 280 million turkeys are sold for the Thanksgiving celebrations. o Turkey has more protein than chicken or beef.
o More than 3,000 tons of aluminum foil is used yearly to wrap turkeys.
o In ancient Scandinavia, mistletoe was associated with peace and friendship. That may account for the custom of "kissing beneath the mistletoe."
o It is estimated that almost 56 percent of Americans sing to their pets during Christmas.
 o Christmas purchases account for 1/6 of all retail sales in the U.S.A. o There are approximately 21,000 Christmas tree farms in the U.S.A.
o All the gifts in the "Twelve Days of Christmas" would equal 364 gifts.
o The common belief behind lighting up fireworks on New Year's Day is that it not only illuminates the sky but also dispels bad spirits and unpleasant memories of the past.
o It is thought that the first visitors you see after ringing in the New Year would bring you good or bad luck, depending on who you keep as friends and enemies -- keep your friends close and your enemies far, far away!
 o People have been making New Year's resolutions for an estimated 4,000 years. o The first New Year's Eve ball was dropped in Times Square in 1907, in response to a ban on fireworks that year. o Over 320,562,920 people in the U.S.A. will be welcoming in New Year's Eve 2014!
One of the best websites we found for holiday recipes is |
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Winter 2013 Holidays and Events
 Nov. 3: Daylight Savings Time Ends; Nov. 11: Veterans Day; Nov. 28: Thanksgiving Day; Dec 1-7: National Handwashing Awareness Week; Dec. 7: Pearl Harbor Remembrance Day; Dec. 10: Human Rights Day; Dec. 17: Wright Brothers Day; Dec. 21: First Day of Winter, Great American Smokeout; Dec. 25: Christmas Day; Dec. 31: New Year's Eve; Jan. 1: New Years Day; Jan. 10: Save the Eagles Day; Jan. 11: Amelia Earhart Day; Jan. 17: Ben Franklin's Birthday; Jan. 20: Martin Luther King, Jr.'s Birthday; Jan. 28: Christa McAuliffe Day.
Mazon Office Holidays: We will be closed Mon., Nov. 11th in observance of Veterans Day; Thurs. & Fri., Nov. 28th & 29th in observance of Thanksgiving Day; Wed., Dec. 25th in observance of Christmas Day; Wed., Jan. 1st in observance of New Year's Day; and Mon., Jan. 20th in observance of Martin Luther King's Birthday. You may submit your invoices during our closed hours via fax, e-mail or drop-slot to be processed the next business day.
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Time-Wise
 Add to your bottom line by being wise with your time. Exercise simple strategies that make your day more productive. Establish fixed times to check email or social networking sites; use virtual meetings to save travel time and cost; strategically employ voice mail to avoid phone interruptions. Treat time like money and you'll have more of both. (Source: www.Manta.com)
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Winter Business Book Pick
Celebrating Success! Fourteen Ways to Create a Successful Company
by Ron Finklestein, published by Morgan James Publishing, July 18, 2006. Hardcover, 212 pages. ISBN-10: 1600370373; ISBN-13: 978-1600370373.
His clients call him the "small business success expert" because of his passion for their success. Ron Finklestein's book, Celebrating Success! Fourteen Ways to Create a Successful Company (Second Edition), should be required reading for all business owners and managers. If more business people read this excellent book, there would be far fewer business failures, more satisfied customers and higher revenues and profits. Ron's 10 rules for Small Business Success: 1) Understand that you as the business owner are responsible for everything that happens in your business. You cannot delegate that responsibility. 2) The attitude of the business owner is reflected in the employees working in the business. If you don't like the attitude you see in your employees, look in the mirror. 3) Personal growth and business growth are not the same, but they are closely related. When you stop growing as a person you stop growing your business. 4) Know that you don't know everything. It is not possible. When you come to that realization, investing in trusted advisors makes so much sense. 5) Life is short. Enjoy what you do and others will see that and be attracted to you. If you don't like what you do, do something else. 6) Give others credit for their contribution to your success. 7) Know that your success is tied directly to how well you motivate, manage, inspire, sell and encourage people. 8) If you can't measure it how do you know it works? Measure everything. 9) You must understand how the business you are creating will help you create the life you want. There can be no misunderstanding. True success lies in creating a business that is consistent with and supports the life you want to create. 10) Develop a passion for your work and have fun!
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Thoughtful Thoughts
Don't confuse your path with your destination. Just because it's stormy now doesn't mean you aren't headed for sunshine.
-- Author Unknown
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Learning to Fish
 Mrs. Baker wanted to go ice fishing. She had read several books on the subject, and finally, after getting all the necessary equipment together, she made her way out onto the ice. After positioning her comfy stool, she started to make a circular cut in the ice.
Frighteningly, from up above, a voice boomed, "There are no fish under the ice." Startled, Mrs. Baker moved farther down the ice, poured herself a large coffee, and began to cut yet another hole.
Again, from the heavens, the voice bellowed, "There are no fish under the ice" Mrs. Baker now became very concerned so she moved way down to the opposite end of the ice, set up her stool, and began again to cut her ice hole.
The voice rang out once more, "There are no fish under the ice." Mrs. Baker, stopped, looked upwards and said, "Is that you, Lord?"
The voice replied, "No, this is the ice rink manager."
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Did You Know?
 Poinsettias were first introduced into this country in 1828 by the U.S. ambassador to Mexico, Joel Poinsett. Poinsettias are now grown in all 50 states and represent over 85 percent of potted plant sales during the holidays. Over $220 million worth of poinsettias are sold during holiday season!
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If you enjoyed this issue of our Building Bridges Newsletter, please forward it to others.
Sincerely,
Lisa Hultz
Mazon Associates, Inc. |
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$$ Refer & Earn $$
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Business contacts, friends, family and acquaintances -- you just never know when someone you know might need Mazon's accounts receivable factoring services! Visit our referral page for more info.
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About Our Clients
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Our clients are traditionally businesses that are manufacturers, distributors and service companies in the following areas: advertising / marketing / apparel / design / courier & delivery services / equipment repair & maintenance / environmental services / graphic design / signage & printing / staffing & employment services / security services / catering & food services / legal services / light construction / telecommunications / transportation services.
Our clients may include start-up, early-stage growth and high-growth businesses; under-capitalized businesses with historical operating losses; businesses with cash flow problems having a cash flow need; businesses with tax liens or turnaround situations; businesses who may have been turned down for bank loans and/or do not currently meet a bank's credit criteria.
Our clients have delivered services or products to other businesses and have business-to-business invoices that can be independently verified.
Most of our clients have come to us through referrals from current and former clients. We rely heavily on word-of-mouth marketing to bring in new clients -- and we offer a lucrative referral program.
Our clients are located in any of the 50 states in the U.S.A.
We do not accept as clients businesses which have a majority of consumer receivables such as retail businesses, progress billings, third party pay medical receivables and certain construction-related businesses.
For more information about becoming a client, please contact us by telephone 972-554-6967 or toll-free 1-800-442-2740, or visit our website:
www.Mazon.com.
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