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Recent Press Releases (U.S. and international) for magazine issues and staff changes may be found below. Please note that for many issues there exists only a highlights sheet, while for others there may also be a full press release. The cover of FSB's current issue is pictured at right. Please contact the appropriate communications staff member with any questions.
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Highlights of the
April 2007 Issue of FSB: FORTUNE Small Business
The full stories are available at FSB.com. COVER STORY COVER STORY: Your Three Seasons of Wealth, by Carlye Adler, page 30 Smart ways to build your nest egg, whether you're a business owner starting up, in your prime, or cashing out. As surely as seasons change, entrepreneurs face a new personal finance challenge at every turn, whether it's a sudden cash flow squeeze or a hike in taxes. And with stocks now wobbly, the path to wealth may seem less certain than ever. That's why FSB recruited expert financial advisors to give custom-tailored advice to three busy entrepreneurs: one who owns a budding apparel company, another who runs a successful mortgage business, and a third who has just cashed out and is now considering his options. FSB provides some financial tips, including the latest on new tax laws and strategies, to help make the most of life's seasons.
Block That Bomb, by Philip Siekman, page 58 Two entrepreneurs hope to protect humanity from explosions. The aha! moment arrived over breakfast in an Orlando diner. James Gordon and John Waddell were trying to develop a product designed to protect lives and property from the deadly effects of bombs and industrial explosions. They teamed up to launch BlastGard International (blastgardintl.com), a small public company based in Clearwater , Fla. After two years and $2.5 million in private financing, BlastGard landed its first major customer in 2005. To date the Washington , D.C. , Metro rail system has ordered 208 explosion-mitigating trash receptacles for use on Metro platforms (total cost: $797,000). Military forces around the world are a major target of opportunity for BlastGard. If the duo can overcome the near-term challenges, their company's potential, in this era of terrorism and war, would be explosive.
The Taxman Cometh, by Ian Mount, page 20 To raise revenue, the feds plan to stick their noses deeper into small-business financial records It's not shocking that the IRS is being pushed to improve its reported collection rate of 86%. Faced with a gargantuan deficit and demands to reform the alternative minimum tax—a levy initially aimed at the very wealthy that is now snaring millions of middle-income taxpayers—Congress and the Bush administration have been looking for cash under the cushions. And they seem to have found some in an IRS report that shows the amount of unpaid taxes (known as the “tax gap”) to be $290 billion a year, of which $109 billion is attributed to underreported business income, largely from small companies. PLUS: Take & Give A minimum-wage hike would hit some businesses as tax cuts help others. Many small companies will enjoy lower tax bills in the years ahead if the Senate's proposed $8.3 billion tax cut—the Small Business and Work Opportunity Act of 2007—becomes law. But the measure is not exactly a model of truth in advertising. Billed as compensation for small employers hit hard by the hike in the federal minimum wage, the tax breaks target few of their benefits at that group.
Five Annoying Habits of Entrepreneurs, by Brian Dumaine, page 95 New York Times bestselling author and top executive coach Marshall Goldsmith dissects five common (and particularly annoying) habits that he says can hold back even the best small-business owner. • Winning too much - The need to be right in all situations. • Adding too much value - The overwhelming desire to add our two cents • Starting with ‘no,' ‘but,' or ‘however' - These negative qualifiers say, “I'm right, you're wrong.” • Playing favorites - Failing to see that we are treating someone unfairly. • Goal obsession - Getting so devoted to a specific goal that we achieve it at the expense of a larger mission.
Will Green Play in Peoria ?, by Hillary Rosner, page 52 This heartland city is betting its future on ethanol, wind, and other environmental industries. These days, when Peoria 's entrepreneurs and politicians gaze out over their city and the surrounding countryside, they see green. The city has created a tech incubator to help establish startups, many of them selling green products. Eleven ethanol plants are being planned, along with three biodiesel refineries, totaling nearly $2 billion in investments. Four wind-power companies—Horizon Wind Energy, Invenergy, Midwest Wind Energy, and Navitas Energy—have proposed eight electricity-generating wind farms in central Illinois, four of them in counties just outside Peoria. As Peoria struggles to navigate the rugged transition from a Farmbelt and heavy-manufacturing economy into a green one, it could serve as an example to the rest of heartland America . So far the city is off to a good start. PLUS: A Clean Green Office The president of a five-person clean-energy consulting company outfits his firm with the latest tools to conserve energy and create clean power…and help his sales grow 30% a year.
- more - A Tiananmen Rebel Turns Capitalist, by Richard McGill Murphy, page 78 After fleeing to the U.S. , Shen Tong returns to do business with his former oppressors. What kind of U.S. entrepreneur gets followed around Beijing by agents from the Public Security Bureau, China 's version of the FBI? Answer: A Chinese-American software developer who was once a political dissident in Beijing . An entrepreneur who helped lead the pro-democracy movement that led to the Tiananmen Square massacre of 1989. A young capitalist who now sells Internet software that could open up Chinese society—or help keep it closed. Today about 70% of China 's GDP is generated by the private sector, which is dominated by small and medium-sized enterprises. Much weighs in the balance. Will the private sector's growing power eventually make China more democratic (and more open to U.S. exports and investments) or trigger more repression?
Fed Up with the Fast Life , by David Whitford, page 100 A millionaire bond trader buys a Vermont country store. Then he learned the truth about business—and himself. It wasn't about money. It wasn't about changing the world. It wasn't even about building his own sandbox. It was an experiment in self-discovery—an attempt to learn, after years of not really understanding, what kind of human being he truly was. Was he capable of working for interest and meaning rather than for money? Did he have something more to offer the world than his skill in the trading pit? Could he slow down and still be happy? He was curious to find out. A couple of days later, the former Wall Street millionaire took possession of the Williamsville General Store.
Mother's Day Gifts, by Katharine Kelly, page 118 New products that Mom and Earth will love, designed by small companies. • Esque Murrini Cup - These delicate drinking glasses are made by rolling together tiles of jewel-toned glass, then blowing them into a cup shape—a technique that gives each a unique pattern. • Deborah Lindquist Scarf - Couture-inspired apparel from reincarnated materials such as vintage silk and fabrics such as hemp and organic wool. • K Studio Handbag - New custom handbags are created from hemp and organic cotton; many are embroidered with nature-inspired designs.
Tasting Hawaii , by Julie Sloane, page 110 Meet the entrepreneurs behind the Aloha State 's budding industry, agritourism, and bring an appetite. Agriculture is Hawaii 's third-largest industry, albeit a distant third behind the military and tourism. Indeed, farming has become increasingly difficult in Hawaii , which has high costs for land, labor, and shipping. To stay in business, a small but growing number of farmers are jumping into agritourism, bringing visitors to their farms for tours, tastings, and shopping. In Italy agriturismo supports hundreds of family farms. There, hosts invite tourists to stay or even work on the farm. Crops you help grow become precious souvenirs. FSB takes a closer look.
PLUS START UP: City Fund Invests in Small Business Can venture capitalists spark an entire city? San Jose is about to find out. HOW I WORK: Cyber Cyclist Wireless technology boosts service at one entrepreneurs bike-tour company. YOU OWN WHAT? Hang Time When this entrepreneur realized that there was no universally recognized place that specialized in selling high-quality hangers, he decided right then and there to become the Hanger King. TECH EDGE: A Marketing Tool That Fits in Your Wallet Part gift card, part DVD, Cardz aim to make customers enjoy your sales pitch.
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Phil DiIanni
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