February 2 2012

THE TAX ATTIC with Jerry Coon

February 2, 2012 // 0 Comments

Presidential election campaign brings up tax rates A picture of the 1945 Detroit Tigers baseball team sits in my office. They were the World Series champions that year. I know they only had to beat the Chicago Cubs, but beat them they did. Losing must have hard on the Cubs that year because they haven’t been back to the World Series since. Of course, the Tigers haven’t exactly blown away the rest of baseball having also been back to the fall classic only three more times: 1968, 1984 and 2006. All of that has a good chance of changing in the next few years. If you are Tiger fan, you know they just bought the services of Milwaukee’s first baseman, Prince Fielder, by signing him for the next nine years. They are paying him the princely sum of $214 million. I realize that is a lot of Little Caesar’s pizzas, but given that fact that Fielder is one of the best left-handed hitters in all of baseball and given the fact that Detroit already has Miguel Cabrera, one of the best right-handed hitters in all of baseball, and has Justin Verlander, the best pitcher in all of baseball, I’m anticipating that I will be hanging a new picture in my office come this October. The 2012 Detroit Tigers World Series championship team will be a welcome substitute to those 1945 champions. Why did I mention the Cubs? I know this is a bold prediction, but I fully expect them to be back in the hunt for a championship within a few years. They recently hired a fellow by the name of Theo Epstein, the former general manager of the Boston Red Sox, to run their baseball operations. Epstein has made a career of making winners out of losers. If you have watched the movie, “Money Ball,” you might remember that Epstein was one of the disciples of Billy Bean in Oakland. He took that particular form of religion from Oakland to Boston. They subsequently broke the curse of “the Babe” in Boston and won a couple of world championships. He is now moving to Chicago to break the curse of “the Goat.” I hope he does it, too, and if he does, it would only […]

BIRTHDAYS — February 4–10

February 2, 2012 // 0 Comments

4 Ray Armock, Esther Barr, Jayla Bozek, Sandra Hartman, Pete Kruer, Betty Wyckoff 5 Tamara Deardorff, Spencer Gillis, Ben Halbersma, Rubi Schaub, Tom Sharpe, Marv Weemhoff 6 Donna Bottorff, Leah Mawby, Little Betty Swanson 7 Barry Bell Jr., Robert Carter, Jim Swanland, Myrtle Troy 8 Ed Ault, Marie Ault, Christine Dixon, Kathy Klawieter, Mark Palmer, Suzanne Smoes, Gloria Spalding 9 Don Kik, Kris Nylaan 10 Louise Campbell, Sue Swanland

WWW announces record financial results for fourth quarter, full year 2011

February 2, 2012 // 0 Comments

Wolverine Worldwide (NYSE: WWW) recently reported record revenue for both the fourth quarter and fiscal year ended December 31, 2011, as well as record earnings per share for the full year. Highlights for the year include: • Revenue rose 12.9% to a record $1,409.1 million, driven by double-digit growth from each of the company’s branded operating groups: the Outdoor Group, Lifestyle Group and Heritage Group. Foreign exchange contributed $17.3 million, or 1.4%, to reported revenue growth. This year’s revenue represents the second consecutive year of double-digit growth, reflecting strong momentum for the company’s brand portfolio in almost all major geographies. • Gross margin of 39.5% was equal to the prior year’s reported gross margin, representing outstanding performance in a challenging sourcing and product cost environment. • Operating margin expanded to a record 12.1%, compared to prior year reported operating margin of 11.4%. • Diluted earnings per share increased 14.3%, to $2.48, compared to prior year adjusted earnings per share of $2.17. Reported full-year earnings per share in 2010 were $2.11. • The excellent free cash flow generated in 2011 was used to invest for future growth, fund benefit plans for employees and return value to shareholders through the payout of $22.7 million in dividends and the repurchase of 1.8 million shares for $65.3 million. “Our portfolio of strong, global lifestyle brands combined to deliver another year of record performance,” said Blake W. Krueger, the company’s chairman and chief executive officer. “Each of our three branded operating groups and our direct-to-consumer business contributed to the year’s outstanding results. Additionally, all major international regions reported double-digit revenue growth, as our newly created International Group focused on the significant opportunities outside of North America. Our distributor and licensee business, which markets our brands in nearly 190 countries, also had an exceptional year, with revenue up nearly 40%. We are very proud of the record performance in 2011 and are excited about the global momentum of our brands, our continued geographic expansion and the impressive product innovations we have planned for 2012.” Highlights for the fourth quarter 2011 include: • On top of the prior year’s 23.2% fourth quarter revenue growth, revenue in this year’s fourth quarter rose 5.6% to $406.5 million, representing the sixth consecutive quarter of record […]


February 2, 2012 // 0 Comments

Thursday, February 2 Free Meal for Northern Kent County Families—6 to 7 p.m. at the Our Lady of Consolation Family Center, 4865 Eleven Mile Rd., Rockford, every Thursday. No charge; no registration required. Provided by a partnership between Our Lady of Consolation Parish and God’s Kitchen, a program of Catholic Charities West Michigan. Rockford Area Historical Society Meeting—1 p.m. at the Community Cabin, 220 N. Monroe St., Rockford. Gerald DeMaagd will present “Rockford During the 1930s and 1940s.” Hostesses will be Joan DeMaagd and Lois Armstrong. For more information, call (616) 866-2235. Rockford Rotary Club Meetings—7 to 8 a.m. at the Rams Den in Rockford High School, 4100 Kroes St., unless school is delayed or canceled. For more information, call Mark Bivins at (616) 866-1470. Sunday, February 5 Swiss Steak Dinner—noon to 2:00 p.m. at the Rockford Masonic Lodge, 1430 Northland Drive, Rockford. Cost is $8 for adults and $3 for children under 10 years of age. Dinner includes Swiss steak, choice of vegetable, mashed potatoes with gravy, salad, dinner roll, piece of pie and beverage. Open to the community. Everyone is invited! Monday, February 6 Babytime—11 a.m. every Monday through February 27 at Krause Memorial Library, 140 E. Bridge St., Rockford. Delight and stimulate your baby with songs, a story and playtime. Get to know other families and help your baby develop listening and language skills. For babies from birth to 18 months with a caregiver. For more information, call (616) 647-3940 or visit www.kdl.org. Tuesday, February 7 Evening Storytime—6:30 p.m. every Tuesday through February 28 at Krause Memorial Library, 140 E. Bridge St., Rockford. For families who can’t come to the library during the day, Evening Storytime offers an evening of stories and fun. Bring your teddy bear or other snuggly friend; pajamas optional. For children ages 6 and under with a caregiver. For more information, call (616) 647-3940 or visit www.kdl.org. Rockford Rotary Club Meetings— 7 a.m. at Rockford High School. For more information, call Mark Bivins at (616) 866-1470. Country & Gospel Music—9:30 to 11:30 a.m. every Tuesday at Rockford Ambulance Community Center, 8540 Shaner Ave., Rockford. Music by the Rogue River Band. Enjoy free coffee, tea and snacks. For more information, call Keith at (616) 866-2459. Mended Hearts Meeting—7 p.m. […]

Rockford jazz band to perform at museum fundraiser

February 2, 2012 // 0 Comments

Audiences will be treated to a double barreled musical treat on February 18 when Mark Randisi presents his Big Band “Sound of Sinatra” tribute for the benefit of the new Rockford Area Museum. It has been confirmed that the Rockford High School jazz band will be performing prior to the main show. Beginning at approximately 7:15 p.m. and continuing throughout the audience seating, this group of outstanding young musicians will display the talent that always makes the Rockford jazz band an audience favorite. This band is just one of the many talented groups that contribute to the Rockford band program’s reputation for excellence. Under the direction of Cullen McCarthy, the jazz band can be seen throughout the year performing at community events including performing as the house band for the Annual Chamber of Commerce Dinner/Meeting every January. The group, which is comprised of 19 student musicians from the ninth to 12th grades, will be playing a wide variety of music. Selections will include traditional swing music, Latin jazz and contemporary selections with an emphasis placed on traditional swing music. The jazz band is the second local group participating in the show. The Rockford Community Children’s Choir will join Randisi to recreate a famous Sinatra scene in which “Old Blue Eyes” sang the song “High Hopes” with a group of youngsters. The combination of Randisi’s natural voice and the nationally recognized Johnny Trudell Big Band could make audience members think they are listening to some of Frank Sinatra’s original recordings. Trudell is currently the musical director of Detroit’s Fox Theater. He was also the lead trumpet player for Motown Records, when he recorded with greats such as The Supremes, Smoky Robinson, Marvin Gaye, and many others. Randisi has appeared throughout the U.S. and in Europe thrilling audiences with his natural, authentic and respectful presentation of Sinatra’s greatest hits. This promises to be a rare opportunity to enjoy world class entertainment in the comfortable atmosphere of the Rockford High School auditorium, while helping to create a new Rockford Area Museum that will benefit the entire community. Tickets, starting at just $35, are available online at www.ramshow2012.com or at the following Rockford area locations: The Rockford Squire, Double Take, Antor Travel, Creative Concepts, Rockford Ambulance, Dish Network on Plainfield […]

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