Wolverine World Wide Inc. (NYSE: WWW) today announced the appointment of Blake W. Krueger as Chairman of the Board of Directors effective January 1, 2010, succeeding Timothy J. O’Donovan, who will continue to serve on the Board of Directors. Krueger has been an executive of Wolverine World Wide for more than 16 years and, in addition to this new appointment, will continue as the company’s chief executive officer and president. Krueger commented, “I am honored to be appointed chairman, and look forward to working closely with the board and our seasoned management team to execute our strategic growth plan and to consistently deliver exceptional returns to our shareholders. Wolverine has a 126-year history of building strong global brands, and we are poised to take full advantage of the available global growth opportunities and to build on our track record of operational excellence.” Krueger continued, “I am especially pleased that Tim O’Donovan will remain a director of the company. His countless contributions to the company’s success in his nearly 40 years in the footwear industry make Tim an integral and invaluable resource. We’ve been partners for a long time, and I look forward to continuing to work with Tim and the rest of our board.” “Blake is a proven leader and the board could not have made a better selection for the role of chairman,” stated O’Donovan. “I am pleased to have served the company as chairman these last several years and I look forward to continuing to serve as a director. Blake has the vision and dedication to lead the team as the company leverages its opportunities and accelerates its strategic growth plan.”
Crestwood Elementary School bus time changes One of the items included in the recent budget cuts was shortening the travel time between Rockford Public Schools’ (RPS) secondary and elementary school bus runs. Effective Monday, Jan. 25, 2010, Crestwood Elementary School’s start time will change from 8:40 a.m. to 8:30 a.m., and their dismissal time will change from 3:40 p.m. to 3:30 p.m. RPS’ secondary school start and dismissal times are not affected by these changes. The morning pick-up and afternoon drop-off bus times will be handled and communicated by the transportation department. Rockford Spanish Immersion Parent Information Night coming up At Rockford Spanish Immersion, students learn the district’s core curriculum through Spanish rather than English. In other words, students are “immersed” into the language and study the same content as other students, but while doing so, naturally learn to read, write and speak in Spanish. Rockford Spanish Immersion currently enrolls 246 students and is beginning its fifth school year with a new enrollment of kindergarten students. For parents who would like to provide their kindergarten child with the opportunity to become functionally proficient in both English and Spanish by the time they reach middle school, immersion is a research-proven educational option. If interested in this option and enrolling your future kindergartner for next school year, plan on attending the Parent Information Night on Tuesday, Jan. 12, at 7:30 p.m. at Roguewood Elementary School. Details for enrollment and the application process will be shared at this meeting. Additionally, Immersion classroom tours will be held on Jan. 21, Jan. 28 and Feb. 2 starting at 9 a.m. Please contact the Roguewood office at (616) 863-6374 if interested in a tour. Open kindergarten enrollment will begin on Feb. 1 and last until March 5, 2010. An application must be submitted during this timeline to be considered. You can learn more about Rockford Spanish Immersion at www.rockfordschools.org/?i=SpanishImmersion.
Merry Christmas! This is the time of year we are filled with hope and joy. We are warmed by friends, family and neighbors. Wouldn’t it be wonderful if we could keep this feeling all year long? Wouldn’t it be wonderful if we had peace on earth? Let’s all hope and work for it. Nagging problems We will get a health care bill and then Congress will start working on what they did wrong. We can’t fix it, so we can forget it and enjoy the season. We will get out of Afghanistan someday. People are working on it. We can’t fix it, so we might as well enjoy the holiday season. Global warming is looming over us as the most serious risk to our way of life. We can take steps at home to help fix the problem. We can start now while we enjoy the season. Merry Christmas to all! Mistaken identity We were dressed and ready to go out for the New Year’s Eve party. We turned on a night light, covered our pet parakeet and put the cat in the backyard. We phoned the local cab company. The taxi arrived and we opened the front door to leave the house. The cat scooted back into the house. We didn’t want the cat shut in the house, because she always tries to eat the bird. My wife went out to the taxi, while I went inside to get the cat. The cat ran upstairs, with me in hot pursuit. Waiting in the cab, my wife didn’t want the driver to know that the house will be empty for the night. So, she told the driver I will be out soon, “He’s just going upstairs to say goodbye to my mother.” A few minutes later, I got into the cab. “Sorry I took so long. That stupid thing was hiding under the bed. I had to poke her with a coat hanger to get her to come out! She tried to take off, so I grabbed her by the neck. Then, I had to wrap her in a blanket to keep her from scratching me. But it worked! I hauled her fat butt downstairs and threw her into the backyard!” The cab driver […]
Issues beyond our comprehension As we near the end of the year, many taxpayers review their financial and tax situations to see if there are any steps that can be taken to reduce their tax bill. There are multitudes of ways to decrease a tax bill. Many of them I have gone over in the past few weeks, such as paying property taxes by December 31. This will then qualify you to receive a 2009 deduction. That deduction reduces the tax bill by the tax rate of the taxpayer. For example, a taxpayer in the 25% tax bracket pays a $1,000 property tax bill in December. This payment will save him $250 in taxes, or $1,000 times 25%. That’s how a deduction works. Your actual tax savings are based on the highest tax bracket of the taxpayer. Our tax system is based on the fundamental that the more income a taxpayer has, the more tax he will pay but the more the deductions are worth. It is an outright fallacy when you hear anything different. The fact is the more income a taxpayer has, the higher will be that taxpayer’s tax bill. For example, two taxpayers under the age of 65 with no children and filing a joint tax return will pay zero tax on the first $18,700 of income they report. The next $16,700 of income is taxable at 10%. If the taxpayers’ total income was $35,400 ($18,700 plus $16,700), their total tax will be $1,670. The next highest tax bracket is 15%. The 15% tax bracket extends from the end of the 10% tax bracket at $16,700 all the way up to $67,900 of income, so the next $51,200 is taxed at 15%. If the taxpayers’ total income was $86,600 ($18,700 plus $16,700 plus $51,200), their total tax will be $9,350. I want to include in this example the 25% tax bracket. The 0%, 10%, 15% and 25% encompass the large majority of all tax returns filed. The 25% tax bracket extends from the end of the 15% tax bracket at $67,900 all the way up to $137,050, so the next $69,150 of income is taxed at 25%. If the taxpayers’ total income was $155,750 ($18,700 plus $16,700 plus $51,200 plus $69,150), their […]