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INDUSTRY NEWS US Govt Study Claims Small Businesses "Misunderstand" Changes in Monetary Policy in Making Spending/Hiring Decisions Last week, the U.S. Small Business Administration published a study that found small businesses respond immediately but not predictably to announced changes in monetary policy, such as changes in prime lending rates, in making their spending and hiring decisions. The data suggests the announced changes are "incompletely understood" in the small business sector. The analysis is considered unique among the myriad of government studies because it divided industries into two segments: a.) interest-sensitive businesses such as construction and manufacturing, and b.) less sensitive businesses such as non-professional services and retailing. Among the highlights: 1.) small business owners respond within two weeks of unexpected changes in monetary policy announced by the Federal Reserve Board; 2.) owners with no exposure to interest rates and borrowing costs respond in much the same way as interest-sensitive borrowers; 3.) the changes produced relate to inflation and unemployment rates; 4.) the spending responses do not conform to the simple predictions of capital market models of the responses to monetary policy, e.g., lower rates do not always produce positive spending and hiring responses. In other words, small businesses do not respond to monetary policy changes the way the government thinks they would. A copy of the SBA report, "The Effect of Changes in Monetary Policy on the Expectations, Spending, and Hiring Decisions of Small Business Owners," can be obtained at the SBA web page at www.sba.gov/advo/research/rs267tot.pdf. 2005 Sees Increased Sweeps by FTC for Funeral Rule Compliance This year may have set a record for the number of "sweeps" or funeral home inspections conducted by the Federal Trade Commission to measure compliance with key provisions of the Funeral Rule. Last week, the FTC announced a sweep in Tyler, Texas of ten funeral homes. Nine of the ten mortuaries were found in compliance with key provisions of the Funeral Rule. The FTC Southwest Region Office apparently conducted sweeps of other funeral homes in that area of Texas. According to the FTC regional director, "Most of the homes we visit now are complying with the law." One funeral home agreed to enroll in the FROP (Funeral Rule Offenders Program) and two others received compliance letters for lesser violations. As reported in the last edition of ICFA WIRELESS, the FTC reported two sweeps during November in San Bernardino, California, and in Columbus, Ohio. All 19 funeral homes in San Bernardino were found in compliance, but in Columbus only six out of the 12 inspected were in compliance. In October, 20 funeral homes in Nassau County, New York, were inspected by FTC test shoppers and 14 were found in compliance. Ironically, despite the stepped up inspections there is still no indication from FTC staff when the Funeral Rule review proceedings will resume. Earlier this year, staff suggested that the proceedings would begin again by December but there is no indication that this will be happening in the foreseeable future. Elder Justice Act Reintroduced in Senate Introduced two years ago during the 108th Congress, the Elder Justice Act is an ambitious piece of legislation designed to establish a series of federal programs and grants to combat abuse and neglect of the elderly, including self-neglect. The legislation proposed training programs to heighten awareness of abuse and neglect by various caregivers including funeral directors. Perhaps because of the relatively large amounts of funding required by the legislation, the previous bill (S. 333) was not enacted. On November 15, Senator Orrin Hatch (R-UT) reintroduced a somewhat scaled down version of the proposal as S. 2010, which was referred to the Senate Finance Committee. The new bill currently has three co-sponsors in the Senate although no companion bill has been introduced to date in the House of Representatives. The ICFA is a member of the Elder Justice Coalition, which is seeking additional co-sponsors among the senators who had been co-sponsors of the previous version of the bill. The Coalition hopes to announce additional co-sponsors after the Senate returns from recess the week of December 12. ICFA NEWS Treasure Island Room Reservation Deadline: December 11 Attention, Wide World of Sales Conference attendees: You must reserve your room at Treasure Island by Sunday, December 11! After that date, the ICFA cannot guarantee that you will receive the discounted conference rate or that you will be able to secure a room. Book your room now by downloading a reservation form at www.icfa.org/pdf/sales06_hotel.pdf or by calling 1.888.503.8999 and using Group Code ICFA06. The ICFA will hold its annual Wide World of Sales Conference January 12-13 at Treasure Island, with 20 speakers and a wide range of topics to help sales managers and counselors boost their sales for 2006. Treasure Island has significantly reduced its prices exclusively for ICFA members to only $99 per night on the peak conference nights, Tuesday through Thursday, and $179 per night through the weekend. Located at the center of the Vegas Strip, Treasure Island offers a health spa, tropical pool area, several restaurants and lounges and a shopping promenade. On the dock just outside its doors is the free entertainment spectacle "Sirens of TI," featuring ships, dueling pirates and sophisticated pyrotechnics. Treasure Island also is host to the world-renowned Cirque du Soleil production "Mystere." Luxury, convenience and affordability -- don't miss your opportunity to stay at this top resort hotel for the world's top preneed sales conference! Visit the Treasure Island Hotel Website at www.treasureisland.com. Nearly 300 of your colleagues have already signed up for the Wide World of Sales, and additional registrations are pouring in daily. For more information and to register, visit www.icfa.org/sales06.htm or call 1.800.645.7700. Exhibitor Booth Selection Deadline: December 15 Reminder to exhibitors: The ICFA must have your Booth space applications, contracts and $500 deposits by December 15 if you wish to be assigned your booth selections under the cumulative point system. Forms received after December 15 will be assigned on a first-come, first-served basis. The ICFA 2006 Convention & Exposition, March 13-16 at The Venetian Resort, Hotel & Casino in Las Vegas, Nevada, will bring together top decision-makers from cemeteries, funeral homes and related businesses throughout North America and the world. Las Vegas always brings a sold-out Exhibit hall, and this year will be no different. The Expo is already one-third sold out, with new contracts coming in each day. Act quickly to reserve your spot at The Venetian! To download an application and contract and to view the Exhibitor Prospectus online, visit www.icfa.org/prospectus06.htm. For more information, contact Nadira at 1.800.645.7700 or via e-mail at nadira@icfa.org. ICFA Convention: Design Your Future Don't be afraid of the future. Embrace it! Join the ICFA for its 2006 Annual Convention and Exposition, "Building on Our Past, Designing Our Future,"; March 13-16, 2006, in Las Vegas, Nevada, where you'll learn what some of your most successful colleagues are doing to prepare for the future. Evolving consumer preferences and advances in technology are changing our profession. Are you fully utilizing the resources available to you? Learn about new products and options by visiting the hundreds of booths at the ICFA Expo. Also, take advantage of the many opportunities to network with your colleagues and discuss challenges and solutions. More than 50 of the most successful leaders in the cemetery and funeral service profession will share their personal business strategies, focusing on the "hot topics" of our profession such as:
Sign Up Today for Your 2006 Music License! With the New Year almost here, it is time to renew your music license to cover 2006. The ICFA was able to achieve a price break for this coming year, so we are passing the savings along to you! Your 2006 music license will cost just $220, with no additional fees, and covers ASCAP, BMI and SESAC for the calendar year. The ICFA initiated this program to make music licensing more affordable in the cemetery and funeral service profession and to help you avoid costly fines. Sign up today by visiting www.icfa.org/music, or call 1-800-645-7700. CLASSIFIED ADS Preneed Sales Management Position If you are looking for a career opportunity at a great location, we are looking for an experienced sales manager for our preneed sales department. We are a 120-acre memorial park located on the beautiful Palos Verdes Peninsula in Southern California. Our recently updated Master Plan illustrates 25-50 years of additional development and sales. Experience in pre-developed mausoleum sales is desirable. The ability to immediately expand the sales team and its results through recruitment, training and motivation is essential. The successful candidate will work closely with senior management and be responsible for developing and implementing departmental budgets. Excellent compensation and benefits. Please fax or email your resume to Ray Frew, Green Hills Memorial Park, 310-521-1320 fax; drfrew@aol.com. See our Web site at www.greenhillsmemorial.com. Please do not call. Computer Software Do you know where all your information is? Are you tired of the same old options out there? Are you looking for more from your computer system? MACCSTM, from FPA Software, is the complete mortuary and cemetery solution, providing all the functionality and features needed to effectively manage and operate a memorial park and mortuary today. From pre-need sales prospecting all the way through interment (and everything in between!), MACCSTM provides an easy to use, flexible, and completely integrated system for a memorial park and mortuary providing funeral services. Consistent with our approach of providing a completely integrated solution, the MACCSTM Mapping module provides GIS mapping capabilities integrated in real-time with information in the MACCSTM cemetery property database. Mortuary case management, service tracking, cemetery property management, integrated mapping, accounts receivable, pre-need trusts, serialized casket inventory, complete reporting and forms management - MACCS has it all. Please feel free to contact us at 818-501-3390 or visit our website at www.fpasoftware.com/maccs to learn more about MACCSTM. Reach Thousands of Cemeteries and Funeral Homes With Your Classified Ad!
And more ... The ICFA Store allows members to purchase the latest ICFA resources and training products online. Some products are available for immediate direct download, including the newly released Wirthlin Report on consumer attitudes and article packages on cremation, cemetery and funeral home valuations and trust funds. The ICFA News Page takes you to sources throughout the world for industry news and updates. It brings you the most comprehensive selection of funeral service and cemetery news available anywhere, along with frequently updated general news items related to national and world events. The News Page reports the news before anyone else and is one of the most visited page on the ICFA Web site. Stop in each day and you'll see why. The Network is an online e-mail service that offers ICFA members an easy, free way to share questions and answers to everyday on-the-job challenges. Recent discussions have examined issues such as working with the Muslim community, distance between burial sites, direct mail marketing, the growing popularity of geocaching at cemeteries, recruiting staff and more. Ideal for smaller companies with smaller budgets. Join today! The ICFA Internet Expo is the largest online exposition in the cemetery and funeral service industry. Cemetery and funeral home owners and operators will find 300+ providers in more than 100 product and service categories. Exhibit space is provided as a free, exclusive benefit to all ICFA supplier and professional members. Check it out today! Need a labor relations and employment law attorney? Check out ICFA's HR Law Benefit program offering members no-cost telephone legal consultations, paid for by the ICFA via an exclusive retainer agreement. ICFA members now also have access to an attorney for tax-related questions regarding trust earnings, care fund allocations, capital gains, investments and more. The ICFA has retained Leslie Schneider, CPA, a tax attorney with Ivins, Phillips & Barker in Washington, D.C., for telephone consultations for up to 20 minutes with no obligation. To take advantage of this member benefit, call Schneider at 202.393.7600. The ICFA and Applied Merchant Systems of Chicago, Illinois, currently offer members a Credit Card Processing Program with a special low discount rate of 1.75 percent, with no per transaction processing fee. This new benefit makes it less expensive for cemeteries, funeral homes, memorial designers and related businesses to accommodate customers who wish to pay via credit card. For more information, call 1-800-675-6573. The ICFA Insurance Program, administered by Driver Alliant, allows members to purchase commercial property and casualty insurance -- including general liability, commercial property, automobile liability and physical damage, umbrella liability, professional liability, workers compensation, employee benefits and more -- at rates they probably would not be able to afford on their own. To advertise in the ICFA Wireless: The ICFA accepts limited advertising in the ICFA Wireless newsletter, a bi-weekly newsletter e-mailed to all ICFA members that are current on their dues and have provided a current e-mail address. For rates and to place your insertion, contact Kim Ferguson at kferguson@icfa.org or 1.800.645.7700. To unsubscribe from the ICFA Wireless: Send an e-mail with "unsubscribe" in the subject line to: wireless@icfa.org. Please include your name and company name in the body of the e-mail. International Cemetery and Funeral Association 107 Carpenter Drive, Suite 100 Sterling, VA 20164 1.800.645.7700 703.391.8400 Fax: 703.391.8416 www.icfa.org Copyright 2005 International Cemetery and Funeral Association. |
