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Learning How to Move
The Bionic ARM
The Fountain of Youth
Stem Cell Research
Enhancing your Vision
Treatment for Inherited Eye Diseases
30 Year Stretch
Tried and True 3 - to - 5 Rules
Will Israel face
more threats in
middle east?
Built for the road ahead.
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w/ Fords Kinetic Design
Designed for living. Engineered to last.
Eco-Boost Engine
Hybrid Regenerative Braking
w/ Auto-Stop-Start Technology
Publisher
Erwin E. Kantor
Managing Editor
Michael Gordon
Editorial
Helen Moss
Robert Jordan
Staf Writers
L. A. Rivera
Monica Link
Wendy Connick
David Gordon
Diane Alter
Mitch Ligon
Ellen Kozak
Sean Goldstein
Judy Magness
Leigh Held
Maria Esposito
Rich Moneti
Edwin Camacho
Peter Hocstein
Asst. Art Director
Marienne Hilahan
Illustrators
Shafali R. Anand
Mike Moss
Marketing / Advertising
Monica Link
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ISSUE 54 | APRIL / MAY 2013
Peace in The
Middle East
E
rw
in Kantor
Best,
Erwin Kantor
Publisher
O
bviously, U.S.-Israeli re-
lations are important in
the Middle East. They are
much closer in creating strong ties
and a solid strategy towards Iran.
In fact, President Barack Obamas
historic visit to the Middle East
has made a vigorous efort to quell
tensions in that particular region.
His three-day trip to Israel is a
positive indication that the U.S.
has reached out to Prime Minister
Benjamin Netanyahu of Israel.
For one thing, Israel has a keen
sense of urgency to take military
action against Tehran. Netanyahu
has noted that Iran should be dis-
suaded from having the ability to
build a nuclear weapon. Netanya-
hu has argued that he is abso-
lutely convinced that Obama has
been adamant in preventing a nu-
clear-armed Iran. David Gordon,
our foreign correspondent in Is-
rael, chronicles the story between
President Barack Obama and Ben-
jamin Netanyahu.
In this issue, on page 10, we
cover research conducted at the
University of Pitsburgh Medical
Center (UPMC) using brain-com-
puter interface (BCI) technology
and training programs that allow a
quadriplegic to perform a number
movements. Jan Scheuermann, a
quadriplegic for nine years, fed
herself using a mind-controlled
robot arm.
On page 13, read our story
about Stem Cell Research and ag-
ing potential to extend our lifes-
pan. And, on page 14 the bionic
eye a retinal prosthesis system
giving sight to people who are
loosing their eye sight.
These are interesting times
characterized by economic and
political uncertainty - and litle
forward motion. And yet in the
entrepreneurial section of the
economy, the opportunities to
create great companies remain
unabated. There is wide agree-
ment among policy makers on
the importance of entrepreneurial
companies to economic growth
and well-being. Venture capital
is a major driver of that entrepre-
neurial economy. The nation con-
tinues to look to this sector for job
creation, economic development,
beter healthcare, cleaner technol-
ogy, and a faster, beter, and more
secure Internet.
THE SUIT MAGAZINE - FEB / MAR 2013
FEATURES
CONTENTS
APRIL / MAY 2013
6
CUTTING TERROR AT THE ROOT
JERUSALEM - On a bright sunny day in one of Israels busiest
metropolises, the scene is calm as natives and tourists go about their
daily business. Beach-goers and businessmen, students and soldiers
all roam the streets avoiding tourist-traps and erratic drivers.
Learning to Move
Fountain of Youth
13
Remember the movie, Cocoon? Characters
played by Don Ameche, Wilford Brimley, and
other Hollywood veterans act out the good,
the bad, and the ugly of their golden years in
a Florida retirement community. That is, until
they discover alien pods in a swimming pool.
19Davis Dictums
Keeping his frm rational
and his clients successful
20
Stone & Carlie
An Accounting firm you can count
on, Going beyond the numbers.
21
MAP Wealth Managers
Mapping a fnancial future
Brown Harris WMG
22
Taking a personal and holistic
approach to wealth manage-
ment
BUSINESS
Milwaukee Wealth
24
The velvet rope approach to investing. A
personalized plan for all your fnancial needs
28
Start-Up Shifs
For start ups, beginnings are
the most important
25
Esposito Securities
Carving out a NICHE of ones own
Hunter Wise Finn Grp
Sufering from middle market com-
plex. Help for ofen overlooked comp.
27
Customizing a Plan
Guiding investors to fnancial security
26
14
Last December, Jan Scheuermann ate a piece
of chocolate; a feat that earned her a round
of applause. Lots of people eat chocolate, es-
pecially around holiday time, so what was so
special about this chocolate-eating experience
10
10
Bionic Eye 14
Delivering treatment breakthrough for
inherited eye diseases
Former Wall Street Exec.
16
Find s Sweet Spot in market. Neting lion
share of investment strategies
Merging Theory and Prac-
18
Building a botom line and value to your
frm
Vanilla Investing 31
Rich returns, customized in-
vestment manage services the
old fashioned way
32
Earning TRUST
The privilege to be your
trusted advisor. Where cli-
ents are in the forefront
THE SUIT MAGAZINE - APRIL / MAY 2013
33
Venture JOBS
Bringing scarce capital to
upstate NY startups seeding
new businesses
34
Charles Eatons 30
Tried and true 3 to 5 rules
36
Future of Wealth Mgmt. is Here
Watering retirement at the roots
38
Rocco Santomenno
Charging ahead but not blindly
47 Advanced Manu. Services
Manufacturing success in the US
36
RRC Wealth Management
Moving toward fee based fnancial services
39
Express Employment
Happily self-employed by stafng other
companies and impacting business
40
42 JDM Steel Service
STEEL made in the USA
44
EZ-Header
Carrying the heavy load, structural support
LAW
BUSINESS
36
Nickeling & Diming
Banks helping with cash fow problems
35
Succession is All About Success
Passing the torch to the next
generation
54
Always Start With a Solid Foundation
Building a name from the botom up
50
Defned Exhibits
Innovation at the trade shows
51
Turnkey Tech Solutions
Successfully installing, seting up, testing sofware
52
Cleaning up in the Washroom
Why clean restrooms are important to business
48
Edge Velocity
New trails wireless mesh networks. Technol-
ogy enhances multiple industry standards
56
Using Technology to Create Oppor..
Rich media platform: provides rich media ADS
57
Corebrand
Making a brand resonate
58
Marieta Business
Not your average business coach
Make It Happen
Successfully helping others to succeed
37
Wealth Health
Wealth equals health. A healthy
approach to wealth management
THE SUIT MAGAZINE p.5
INNOVATION
59
Traveling for Pets Made Easy
The joy of having a pet is big business
61
M. Ross Shulmister
Can a solo law frm compete with the big boys in Florida
62
Kre8tive Law Group
Small but making great changes
60
Meeting New Demands, Leting GO
Where survival means adapting to change
O
n a bright sunny day in Jerusalem, Israels
capital and one of its busiest metropolitan
areas, the scene is calm as natives and tourists
go about their respective business. Beach-goers and
businessmen, students and soldiers all roam the
streets trying to avoid tourist traps and erratic drivers.
Suddenly, the ground rumbles and windows shake
as three Israeli Air Force (IAF) F-16I Sufa fghter jets
streak through the sky with a deafening roar. This is
a common sight in the Holy Land as IAF pilots patrol
Israeli airspace with a heightened awareness.
Historically, Israel has been faced with threats from
all around, said Michael Ganoe, Research and Projects
Coordinator at the Washington, D.C.-based Middle
East Research Center Ltd. (MERCL). While threats
from countries in the region have ebbed and fowed,
Israel may be facing a new hazard one which could
have dramatic global consequences, the like of which
the world has never seen. The threat? The Islamic
Republic of Iran. While Iranian-Israeli relations were
once positively secure, those glory days are now only
visible through the rear-view mirror. Afer years of
political stone-walling, propaganda and fery rhetoric,
tensions between Iran and Western powers including
Israel have grown past economic sanctions into the
prospect of more immediate military action. Could we
really be on the brink of a nuclear arms race or worse,
facing global destruction?
The Iranian nuclear program began in the 1950s
while the Shah was still in power. Ironically, their
frst research reactor was provided by the United
States as part of President Eisenhowers Atoms for
Peace program. Irans program halted prematurely,
but then resumed in the wake of the frst Persian Gulf
War and subsequently continued advancing. Now
led by Supreme Leader Ali Khamenei and President
Mahmoud Ahmadinejad, Iran is on the path of what
they claim is a peaceful nuclear program with promises
of cheaper energy, medical treatment and agricultural
advancement for their 75 million citizens. Considering
their position as a signatory to the Non-Proliferation
Treaty, Iran does have the right to conduct a peaceful
nuclear program, making their stated aspirations not
only legitimate but well within reach.
In past years, however, that has all changed and Irans
nuclear program frequently appears on UN and global
intelligence radars. The International Atomic Energy
Agency (IAEA), a UN nuclear watchdog, originally
reported that no evidence points to illegal Iranian
activity. Now, the international intelligence community
seems to know more than was ever shared with the
public. Despite the initial reports indicating otherwise,
CUTTING
TERROR at the Root:
THE SUIT MAGAZINE - APRIL / MAY 2013
From Jerusalem,
David Gordon Reports
military ofcials have disclosed to Congress the fact that
Iran has the technical, scientifc and industrial capability
of producing nuclear weaponry.
Iran has over a dozen nuclear sites throughout the
country, including ore mines, research facilities and
power plants. Two sites in Fordow and Natanz
are heavily fortifed underground enrichment plants.
Another site, the Parchin Military Complex near Tehran,
is a furtive facility for manufacturing and testing
explosives. These elements are at the center of the
controversy and IAEA inspection of these three nuclear
sites in particular has been limited or denied by Iranian
ofcials.
Recent IAEA reports cited circumstantial evidence
pointing to potential military dimensions of Irans
nuclear program. Enriched uranium can either fuel a
power plant or create an atomic bomb. According to
ofcials, the vast number of centrifuges spinning in
Iranian plants could produce uranium that has been
enriched far more than any peaceful project would
require.
Due to developing concerns surrounding Irans
nuclear ambitions, the UN and other world powers
are taking the necessary precautions to ensure the
transparency and legality of Irans nuclear program. The
international community has used diplomacy, crippling
economic sanctions, vilifying propaganda and isolation
in an atempt to pressure Tehran into halt their nuclear
projects.
For Israel, what separates hypothetical speculation
from legitimate concern are the anti-Semitic rants
pouring from both Irans spiritual and political
leadership. Further fueling the hypothesis of an alternate
agenda, Ahmadinejad, a maligning ultra-conservative,
has publicly and repeatedly called for the ouster of
Israel from the annals of Middle Eastern history. The
bigoted bureaucrat has also denied both the existence
of the Holocaust and Israels legitimacy as sovereign
nation, only raising proverbial eyebrows higher.
Be that as it may, Ahmadinejads authority does not
encompass Irans nuclear program. All decisions
both clerical and political are ultimately made by
the Supreme Leader. While some have brushed of his
remarks purely as rhetoric, Israel is not taking them
lightly. The Jewish state will not allow those who
seek our destruction to possess the means to achieve
that goal, Israeli PM Benjamin Netanyahu told an
applauding crowd at a recent AIPAC convention, A
nuclear-armed Iran must be stopped.
The waning international confdence in Iran has led
Western powers, spearheaded by the US, to intensify
intervention. While President Obama stalwartly stands
Obama, Netanyahu,
Battle the Many Branches of Iranian Threat
THE SUIT MAGAZINE p.7
THE SUIT MAGAZINE - APRIL / MAY 2013
behind his Israeli counterpart even sharing goals
their means of achieving results contrast starkly. Weve
always disagreed at some point or another on tactics,
Vice President Joe Biden told pro-Israel lobbyists. But ...
we have never disagreed on the strategic imperative that
Israel must be able to protect its own, must be able to do
it on its own and we must always stand with Israel to be
sure that can happen.
These tactical diferences, in many regards, could prove
fatal. The US wishes to exhaust all strategic solutions
in order to prevent the loss of international support.
Alternatively, the Israeli government believes that US,
UN and EU economic sanctions and other diplomatic
formalities applied ad infnitum are inefective and
only buy Iran valuable time. But Obama needs to ensure
civil security while also factoring in US special interests,
and promoting peace and stability in a region housing
many allies. Netanyahu, on the other hand, is showing
more aggression and even hinted at the possibility of a
pre-emptive strike on Iranian nuclear sites. As a former
IDF soldier in a Special Forces Reconnaissance Unit, Bibi
Netanyahu has witnessed close to six decades of Israels
struggle for survival and is not taking any chances. I
really believe that, looking at Netanyahus past, he wants
the sovereignty and security of the Jewish State to remain
intact, Ganoe told The Suit. The Prime Ministers now
infamous remarks at the 2012 UN General Assembly of a
red line on a cartoon illustration of a bomb proved his
assertiveness as he voiced his stance to the international
community.
If threatened, military action has always remained an
option for Israel, even when it lacks universal approval.
In fact, in the summer of 1981, Israel shocked the world
by carrying out Operation Babylon a raid on Iraqs
French-built Osirak nuclear reactor during the time when
the country was still under Saddam Husseins rule. This
pre-emptive strike received international condemnation,
however, Israel claims it set Iraqs nuclear program back
10 years. Looking back, many remain at odds with the
legitimacy and efectiveness of the raid. While Clinton
approved it, many still have doubts. But what is known is
that Saddam, who claimed Iraqs nuclear ambitions were
strictly peaceful, still held deep resentment towards the
Jewish state. Diplomacy failed and Israel atacked.
Iran, residing cozily in Western Asia, is over 1000 miles
from Israels borders and has never formally atacked
the Holy Land. A closer, more immediate threat is
dangerously within striking distance. Lurking through
the mountains of Southern Lebanon, Hezbollah, a group
of guerrilla fghters, is determined to exterminate what
they call the Zionist entity. Hezbollah or Party of Allah
is an Islamic fundamentalist, para-military resistance
movement recognized by Lebanon as a political party and
by the West and the rest as a terrorist organization. The
group was organized in the early 1980s as an adjunct to
Yasser Arafats PLO afer Israels invasion during the 1982
Lebanon War. It has since carried out numerous atacks in
Lebanon, Israel, Argentina, Bulgaria, Panama and the UK.
Could history be
repeating itself?
Ofcial White House Photo Pete Souza
Israel views Hezbollah, and
also Hamas in Gaza, as branches
protruding from the Iranian trunk, one
they may be willing to cut at the root.
Widely considered a Persian proxy,
Hezbollah was jump-started in 1982
as a politico-military force with 1500
members of the Iranian Revolutionary
Guards and also received funding
from Iran. According to US State
Department documents, (Hezbollah)
receives substantial amounts
of fnancial, training, weapons,
explosives, political, diplomatic and
organizational aid from Iran.
The groups leader,
Hassan Nasrallah,
who studied in a
religious seminary in
the Qom Province of
Iran, frequently atends
private meetings with
Irans current Supreme
Leader. Al-Arabiya,
the Saudi-owned media
broadcast, recently
reported that Nasrallah
and Khamenei secretly
discussed the Iranian-
Syrian defense system.
The civil uprising in
Syria is only increasing
tensions in the Middle
East as forces loyal to
President Assad have
been trying to sufocate
armed resistance in
a bloody two-year
war with casualties
surpassing 70,000. Syria is Irans key
partner in the region, sharing both
support for Hezbollah and enmity
towards the Jewish state. Due to
instability in the region, Israeli
military ofcials are concerned
over Syrias vast arsenal of chemical
weapons reaching the hands of
Hezbollah and other rogue militants.
For close to three decades, Israel
has been hit hard by suicide bombers,
kidnappings and sporadic mortar
fre from Iranian-backed Hamas and
Hezbollah insurgents. Responding
with targeted military operations,
Israel has also fought two primary
wars with Hezbollah, including
the 18-year blood-bath in Southern
Lebanon that ended in 2000. The two
faced each other again in the summer
of 2006. But as tensions rise, many
fear the confict is far from over.
At a recent Hezbollah rally,
Nasrallah vowed to rain a barrage
of long-range missiles on Israel and
regional US Army bases if Iran is
atacked even if Israel acts alone. This
could potentially throw America into
another ugly war, raising the stakes
even higher. The US thoroughly
exhausted from years of wars with
insurgents in Iraq and Afghanistan
would naturally do everything in
its power to avoid another armed
confict, favoring instead, a more
peaceful diplomatic resolution with
all parties. But that is not an excuse for
cognitive dissonance. Obama must
not forget that in the past Hezbollah
and other Shia militant groups under
the Iranian umbrella have atacked
the US, including the bombing of the
US embassy in Beirut in 1983, killing
17 Americans. Six months later,
suicide bombers exploded a truck full
of explosives in the Beirut barracks
bombing that killed 220 US Marines.
The Islamic Jihad Organization,
which a D.C. court has dubbed a
pseudonym for Hezbollah, took
responsibility for those atacks.
Irans behavioral discrepancies,
in combination with a constant
logorrhea towards Israel and its
allies, only fuels fears that it has the
will and resources to carry out a
nuclear ofensive. In its most recent
act of defance, Iran announced plans
to install 3,000 advanced centrifuges
in Natanz, which would cut the time
needed to enrich uranium. Israel
claims that as early as the summer of
this year, Iran will have enough fssile
material for a nuclear missile.
Israels frustration over this long-
standing confict is apparent as they
look to bypass Irans regional pawns
and go directly for the king to keep
neighborly terrorism
in check. But a nuclear
armed Iran isnt a danger
only to Israel. It will be
a threat not to the shores
of the United States but
to the individual citizen
living abroad, to US
consulates and embassies,
to US allies in Europe, to
NATO. Yes, its a direct
threat, Ganoe told The
Suit. But Israels policy
should be dictated by
their own interests and
not the interests of the US
or any other country.
No global issue since
the beginning of time
has stirred up as much
controversy and fear
as the nuclear weapon.
During the Cold War, the
term mutual assured
destruction or MAD was on many
politicians lips. The prospect of using
another bomb on a country would
be suicide, as the country atacked
would certainly respond in kind,
kicking of a world-wide catastrophe.
Apocalyptic politics aside, there is a
universal imperative to protect the
lives and rights of humans on this
globe we all share. But Israel much
like the United States as its closest ally
will not jeopardize the security of its
citizens by ruling out decisive military
action if threatened. Peace may come
with a price but the cost is one that
global powers must be willing to pay.
THE SUIT MAGAZINE p.9
UN Photo by Devra Berkowitz
L
ast December, Jan Scheuermann ate a piece of
chocolate; a feat that earned her a round of ap-
plause. Lots of people eat chocolate, especial-
ly around holiday time, so what was so special
about this chocolate-eating experience? Jan Scheuermann,
a quadriplegic for nine years, fed herself the chocolate us-
ing a mind-controlled robot arm.
Scheuermanns ability to savor that piece of chocolate
she fed herself was the result of research conducted at the
University of Pitsburgh Medical Center (UPMC) using
brain-computer interface (BCI) technology and training
programs that allow a quadriplegic to perform a number
of the everyday movements we all take for granted. It was
the collaborative efort involving a group of researchers;
one of whom, Dr Elizabeth Tyler-Kabara, noted that the
idea of creating a thought-controlled robot arm originat-
ed over ten years ago. It began with studies using animal
subjects to learn how neurons represent signals for motor
control that would allow the animal to perform specifc
movements. Monkeys were the fnal animal subject to test
the possibilities of this new technology before it was tried
on humans. Dr. Tyler-Kabara explains, If you look at the
musculature of the hand and arms, it is quite similar to
humans. How the (monkey) brain is controlling move-
ments and how the animal is making movements it is
almost a one-to-one correlation between shoulder move-
ment, elbow movement, and fnger movement.
Monkeys had another distinct advantage over other an-
imal species they were intelligent enough to be trained.
Learning to use the robot arm required extended training,
making the primate model one of the favored models
according to Dr. Tyler-Kabara.
Choosing Jan Scheuermann to road test the arm was
also based on a certain characteristic she possessed. The
THE SUIT MAGAZINE - APRIL / MAY 2013
by maria esposito
Learning How to Move Again
basic question that needed to be answered before select-
ing her was, If she imagined a motion, was there activa-
tion in the cortex? This is the part of the brain commonly
called the gray mater. Here a huge network of neurons
works to allow humans to think, move and speak. What
the researchers were looking for was whether or not
Scheuermanns brain tried to do what she imagined she
was doing.
The only way to answer that question was to test.
Scheuermann was given a functional MRI, a test that
measures brain activity through changes in the amount
of blood fow. Scheuermanns MRI indicated that when
she imagined a movement, there was activity in the cor-
tex. The next test was a magnetoencephalogram, which
Dr. Tyler-Kabara describes as a very, very fancy EEG
coupled to an MRI. If electrical activity occurs, it will
pick it up. This test also indicated activity in the cortex.
The researchers determined that the structure of Scheuer-
manns cortex was normal and it was capable of activa-
tion.
Afer passing the tests that confrmed she was a viable
candidate, Dr. Tyler-Kabara implanted two quarter-inch
square electrode grids with 96 contact points in the areas
of Scheuermanns brain that control right arm and hand
movement. These contact points register signals from in-
dividual neurons and the signals are fed into a computer
algorithm to identify how the brain creates a movement
like raising an arm. The two grids were lef protruding
from Scheuermanns skull so they could be hooked up
to the computer. Within a week afer beginning training,
Scheuermann could manipulate the robot arm to reach
in and out, and move lef and right and up and down. In
less than three months, she could fex the wrist, move it
from side to side and rotate it. Scheuermann could also
use the hand to grip objects.
The robot arm used in this research was developed at
Johns Hopkins Universitys Applied Physics Lab through
a program called Revolutionizing Prostheses. This pro-
gram was launched in 2006 by the Defense Advanced
Research Projects Agency (DARPA) to encourage the de-
sign and development of prostheses to replace non-func-
tioning arms. At that time, the types of prosthetic devic-
es available for this use were far less advanced than the
prosthetics used to replace non-functioning legs.
The big question is when will this technology be avail-
able as a mainstream therapy? Dr. Tyler-Kabara said that
there are some hurdles that have to be overcome frst.
The device implanted in the brain has to be small enough
to be fully implanted instead of having cables sticking
out of the head. That obstacle is already being success-
fully addressed.
However, the bigger obstacle, according to Dr. Tyler-Ka-
bara, is convincing insurance companies and Medicare/
Medicaid that this is a viable therapy so that they will be
willing to pay for it. Researchers are already coming up
with new metrics to show how this thought-controlled
limb will improve the recipients quality of life and make
them a more productive member of society. With all of
this behind the scenes work, the thought-controlled robot
arm could be available in fve years.
THE SUIT MAGAZINE p.11
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R
emember the movie, Cocoon? Characters
played by Don Ameche, Wilford Brimley, and
other Hollywood veterans act out the good, the
bad, and the ugly of their golden years in a Florida re-
tirement community. That is, until they discover alien
pods in a swimming pool. The pods expose the se-
niors to a life force that restores their health, youthful
energy, and gives them a new zest for life. At the Uni-
versity of Pitsburgh, there werent any extraterrestrial
pods, but there were aged mice with litle time lef to
complete their bucket list. In a research study, some
of these mice received renewed youth and vigor from
stem cell scientists. If the results can be extrapolated
to humans, we could live longer lives. Much longer.
It is widely accepted that stem cell function decreas-
es with aging, but what isnt known is if that break-
down is the cause of aging, or if it is a result of the
aging process. Mice genetically altered to age rapidly
were used in a study by University of Pitsburgh re-
searchers. These test subjects had a lifespan of about
21 days, much shorter than the two-year natural life
of a mouse.
Researchers injected some of the test subjects with
normal stem cells in the last week of their predicted
life expectancy. These mice lived about three times
longer than the untreated genetically altered mice, and
their health improved overall, notably in blood circu-
lation and muscle strength. Instead of an approximate
three week lifespan as seen in the ill-fated untreated
mice, the injected mice lived about 66 days. Univer-
sity of Pitsburgh researchers reported the fndings
of their 2012 study in Nature Communications, an
online journal publishing important advances in bio-
logical science research. These results establish that
adult stem/progenitor cell dysfunction contributes to
ageing [aging]-related degeneration and suggests a
therapeutic potential of post-natal stem cells to extend
health, their report stated.
The breakthroughs in stem cell and aging research
to date are remarkable and point to the astounding
potential to identify the root cause for cancer, Alz-
heimers, Parkinsons, diabetes, heart disease, and the
list goes on. Cracking the code to these diseases, and
other conditions, and disabilities will lead to medical
treatment and the highest of quests, cures that will ul-
timately impact the norms of human aging. If we ap-
ply these lab results to our human lifespan, living to
150 to 200 years old is inferred. But, dont stress that
your 401K wont last, or envision what youll look like
at 162-years-old just yet. The gap between the known
and unknown is huge. And ethical debates existing in
the chasm complicate progress.
And, of course, the age-old argument emerges from
this research that challenges most studies claiming
signifcant results using animal testing. Human beings
arent micewere built diferent. Thank goodness,
right? Also, mice used in the University of Pitsburgh
study were genetically engineered to age faster; this
concerns other researchers because the aging process
was altered compared to natural aging. Finally, while
the brief extension of life reported in the results is no-
table, some researchers question the overall all impact
on moving toward cure.
Its not going to be the fountain of youth, but its
teaching us a lot of biology that will help us con-
ceptualize how to stay healthy and functional, Dr.
Laura Niedernhofer, one of the studys authors said
in an interview with ABC News. The Buck Institute
for Research on Aging in California brought together
cuting edge researchers from all over the world at
the 2012 Buck Symposium on Stem Cell Research and
Aging. During the meeting, there was a strong un-
derlying sense that an unbiased synthesis of basic ag-
ing research and stem cell engineering will be the next
crucial milestone in the advancement toward efective
health-span extension, the Institute reported on their
website featuring symposium highlights.
Stem Cell Research and Aging
Potential to Extend Lifespan
Highlighted by Study
THE SUIT MAGAZINE p.13
But, its a big IF.
by judy magness
THE SUIT MAGAZINE - APRIL / MAY 2013
T
he ultimate goal is a cure.
In its absence, astounding
treatment technology is now
available.
Companies in the U.S. and abroad are
working on retinal implant devices to
aid patients with retinitis pigmentosa
(RP). A genetic, degenerative eye
disease, RP results in gradual vision
loss as photo receptor cellsrods and
cones located in the retina of the eye
progressively deteriorate. Advanced
cases culminate in blindness.
In February of this year, Second
Sight Medical Products, Inc. based in
Sylmar, California received approval
from the U.S. Food and Drug
Administration (FDA) for the Argus
II Retinal Prosthesis System. Afer
20 years in development, the Argus
II is the frst retinal implant to treat
advanced RP in adults.
The System has three parts: a small
electronic device implanted in and
around the eye, a tiny video camera
atached to a pair of glasses, and a
video processing unit that is worn
or carried by the patient, according
to an FDA overview report. When
the patient wears the glasses, images
captured by the camera are converted
to an electrical signal in the processing
unit and are delivered wirelessly to
the retina which the brain recognizes
as spots of light. The FDA reports that
patients involved in clinical studies
of the device were able to recognize
movements of objects and people;
distinguish large leters, words, or
sentences; and detect street curbs. The
Argus II, approved in Europe in 2011,
is billed as the frst bionic eye by
mainstream sources reporting on the
device.
The Alpha IMS Implant, an artifcial
retina device invented by Retina
Implant AG based in Germany,
recently passed the second phase of
three-phase trial. Their technology
hinges on the fact that a large part of
a patients retina is still functioning
even though rodsthat distinguish
light, dark, shape and movement
and cones that respond to color, have
been destroyed by RP. The Alpha IMS
Implant, is a microchip placed behind
the retina that receives input normally
received by healthy photo receptors
and delivers it to the brain. Of the
nine patients observed in the study,
three patients were able to read leters
spontaneously. During observation in
and outside the laboratory patients
also reported the ability to recognize
faces, distinguish objects such as
telephones and read signs on doors,
states the company in a press release
announcing their latest milestone.
Retina Implant AG is moving
to successfully complete the fnal
mandatory phase of the Alpha IMS
Implant to secure a CE mark approval
in Europe. Later this year, Second
Sights Argus II is scheduled to be
available at eye clinics throughout
the United States, and the company
plans to add sites to make the new
treatment more accessible. Together
these companies and other dedicated
researchers bring the possibility of
sight, albeit limited, to 1 in 4,000
people in the U.S. and Europe afected
by RP who thought darkness was
their only option.
by judy magness
Deliver Treatment Breakthrough
for Inherited Eye Disease
Retinal Implants
by robert jordan
E
arning his
corporat e
bearing on
Wall Street in the
banking industry,
Joseph Rinaldi,
Senior Managing
Director and CIO
of Quantum Fi-
nancial Advisors,
prides himself
on being a mav-
erick among business executives,
advising countless CEOs, pension
& proft sharing plans, endowment/
non profts , FDIC/RTC and in the
1990s, even the President of Argenti-
nas fnance commitee at his Banco
Hipoticario.
Over the years, the former Wall
Street advisor said he has discov-
ered the sweet spot in investment
strategies, particularly in the areas
of portfolio and risk management,
institutional sales and trading, and
structured fnance. I had some ex-
perience on both the buy and sell
sides of banking, while ultimately
creating fnancial products for my
clients. Rinaldi said from his ofce
in Washington D.C.
In the early 1990s, Rinaldi played
a pivotal role during the bailout of
the savings and loan industry. We
felt with our diverse background
in managing risk, we (needed) to
help our nation through the thrif
bailout, the fnance guru insisted.
Working vigorously for The
R e s o l u - t i on
Former Wall Street Exec
Finds Sweet Spot in Market
Netting Lion Share of Investment Strategies
Trust Corporation (RTC/FDIC) as
one of three senior capital market
specialists, Rinaldi was responsible
for liquidating some of the indus-
trys weakest, ailing banks.
His advice is not only valued in
the U.S. In fact, afer forming Quan-
tum Financial Advisors back in
1996, this globe-trekking exec even
traveled to Argentina to advise and
assist former President Carlos Men-
em and his advisors with Argenti-
nas mortgage banking policies. We
were there to help President Menem
structure their mortgage industry,
Rinaldi explains in a modest tone.
Today, Rinaldis company is one of
the premier boutique fnancial frms
in the country. Afer working for
the RTC/FDIC, I formed the frm,
he says with a business-savvy de-
meanor. I felt it was time. Quan-
tum Financial Advisors provides in-
vestment strategies, asset allocation,
sector rotation, and utilizes portfolio
insurance to protect principal, al-
lowing it to grow and generate in-
come.
Certainly, Rinaldi has seen his
share of economic meltdowns in
his time. Always in the trenches, he
continues to weather countless fscal
storms. The hardest thing is main-
taining good clients,
he said. High net
worth individu-
als, endowment
funds, non-prof-
its, retirement plans, small business-
es that are eager to build wealth for
the future, while maintaining full
discretion on managing their as-
sets. There is a pause in his tone.
Afer the Bernie Madof scandal,
things changed. But for us, it is very
important to give us the ability to
invest and trade (a clients) accounts
without approval for trades. That is
called Discretionary Trading, Ri-
naldi chuckles. That doesnt come
easy you have to earn that trust.
Acknowledging that the industry
is still sufering from increased reg-
ulation fueled by the ugly Madof
scandal, Rinaldi admits, Now peo-
ple will shy away from hedge funds,
because client money is co-mingled.
That is how Madof pooled client as-
sets and then stole client money. So,
yes, the industry is still sufering.
Rinaldi said that, being smaller,
Quantum Financial Advisors func-
tions much diferently than the
big boys J.P. Morgan Asset Man-
agement, Goldman Sachs Asset
Management, Merrill Lynch Asset
Management who are all heavily
dependent on larger sums of capital
investment. The diference between
us and them, he argues. And we
stand neck-and-neck with
THE SUIT MAGAZINE - APRIL / MAY 2013
THE SUIT MAGAZINE p.17
them, he pauses again. In our frm
well represent a client with no regu-
latory minimum (we charge more for
smaller accounts) but with the big
boys you need twenty to twenty-fve
million before you can be represent-
ed by their frm.
But, over the years the fscal cli-
mate changed that paradigm. In fact,
Rinaldi said that the economic deba-
cle of 2008 caused major fallout for
many across the board. Many cli-
ents jumped ship. He said, Weve
enjoyed a couple of larger custom-
ers. They recognized and appreciat-
ed our unique value proposition,
he explains, And its been a great
marriage, because they understand
whats out there and they dont want
to go back. These are people who are
very astute in the investment world
and they understand what the com-
petition ofers.
One factor playing a big
role is panic in the
market, Ri-
naldi said.
Ther e
is fear because of the Internet bub-
ble and the real estate bubble in 08,
he added, So we keep our investors
fully aware of whats happening in
the market via emails through quar-
terly and inter-quarter broadcasts for
our clients. We also enjoy our annu-
al client reviews, performed during a
lunch or dinner meeting.
In 2012, Rinaldi was recognized as
one of Americas Top Financial Ad-
visors for 2012 by Conquest Press.
He and Quantum Financial have also
been featured in Reuters, The Wash-
ingtonian, The Wall Street Journal
and countless other publications, in-
cluding the Paris magazine, Gestion
de Fortune in December 2012.
As a scholar with a business suit,
Rinaldi teaches at the University of
Marylands Robert H. Smith School
of Business. He and his stu-
dents made the national news in 2011
when about 60 students from two
sections of his Futures, Options and
Derivatives course in answering Ri-
naldis challenge to reduce the feder-
al defcit produced a white paper,
even pitching it to political leaders
and pundits. Rinaldi proudly noted
at the time that . . . This paper is
detailed, plausible and signifcantly
represents the next generations idea
for reducing the defcit.
I
n 2013, mergers and
acquisitions are back
with a vengeance.
Not since the days of
dot com madness in
the late 1990s have
there been megadeals
in the ofng on the
scale of the proposed Heinz and Dell
buyouts. Mergers and acquisitions
(M&A) are suddenly so popular that
Reuters reports these transactions as
totaling $158.7 billion so far this
year which is already twice
last year's amount.
Of course, many people
want to get in when the action
is hot. Rick Gould, Managing
Partner of Stevens Gould Pin-
cus LLC, can't be numbered
among those just now
hopping on the band-
wagon. He started
his M&A consulting
frm in 2001, afer
20 years of running
his own accounting
practice. So what prompted
Gould to make the leap from
a behind-the-scenes accountant
to a player front and center on the
deal-making stage? It was sparked
by the need to do the deal and also
get credit for it. According to Gould,
I owned the accounting frm for 20
years, specializing in the PR and ad
agency industries. I was also geting
involved with mergers and acquisi-
tions as the CPA. That's when I decid-
ed afer 20 years I didn't want to own
an accounting frm any more. I want-
ed to be doing mergers and acqui-
sitions, and counseling senior level
executives C-Suite executives on
things like proftability and building
value in their frm. . . I found that as
the accountant I wasn't on the fring
line, I was behind the scenes, and I
wasn't geting much credit for deals
geting done. That was really the
turning point.
Armed with the money from a fve-
year buyout of his accounting frm,
Gould plunged into the business of
helping companies buy other compa-
nies and sell to larger frms. At the
same time, Gould was approached by
a senior person at the Parsons School
of Design to create a graduate course
on entrepreneurship, one of the few
in the U.S. at that time
This course, modeled on the case
study method perfected by Har-
vard Business School, dealt with is-
sues that cause businesses to implode
even at the height of their earning
power. It was a hit with the students
and Gould wound up teaching at Par-
sons for three and a half years while
he built his M&A frm.
In addition to teaching and build-
ing a consulting business, GouldPart-
ners LLC, Gould was also writing and
speaking at major conferences. Then a
light bulb went of and Gould decid-
ed that being involved in M&A deals
would be beter with a law degree.
He explained, I decided if I'm doing
M&A and I'm negotiating and I'm re-
viewing contracts and preparing term
sheets and doing these things you re-
ally have to be knowledgeable in, a
law degree would make me smarter
and grow my expertise. With no
intention of ever practicing law I got
my law degree nights, weekends,
summers in just over three years. It
was an amazing experience and well
worth the time, efort and cost.
Gould then became an active par-
ticipant in the Harvard Law School
Program on Negotiation (PON).
He takes courses, is an avid read-
er of the books, articles and news-
leter of the law school professors
and follows the programs and in-
terviews on the PON website reg-
ularly. The PON faculty includes
some of the most brilliant minds
in the world. I take full advan-
tage of it and hope the meth-
odology and approach helps
in my motivational you can
do it speeches at conferences
in the Public Relations
industry, Gould said.
His third book The
Ultimate PR Agency
Financial Management
Handbook just re-
leased in April further
solidifes his commit-
ment to creative service
frms increasing their
botom line and building val-
ue in their frm.
Counseling CEOs, motivational
speaking, writing books and arti-
cles and Harvard Law are all part of
Goulds strategic plan- not only to
beneft his consulting and M&A cli-
ents- but for himself.
by maria esposito
MERGING THEORY AND PRACTICE
www.StevensGouldPincus.com
THE SUIT MAGAZINE - APRIL / MAY 2013
TO BUILD THE BOTTOM Line and Value to Your Firm
H
e can talk in sound bites and
efortlessly ratle of statistics,
but dont let his pater fool
you. At heart, William Davis, Jr.
Chief Executive Ofcer and Portfolio
Manager of Thompson Davis & Com-
pany is a hard-nosed pragmatist.
From the ofces of Thompson Da-
vis, an investment management com-
pany still boutique-sized enough to
be housed in a white-painted ante-
bellum mansion in Richmond, VA,
Davis recently shared his opinions,
ideas and some of his investment
techniques.
What makes for a successful invest-
ment manager? Davis pointed out
that, for one thing, we trust our disci-
plined and focused investing process
enough to follow it ourselves. And
the way we like to look at that is,
theres nothing more motivating for
success than to have your own money
on the line, Davis emphasized.
To bolster his point, he cited statis-
tics about the methodology of some
mutual fund managers, According to
a Morningstar study, in over 51 per-
cent of all mutual funds, the portfolio
managers dont invest in the funds.
Those who do invest their own mon-
ey in the funds that they manage, out-
perform their peers.
Named a Five-Star Wealth Manager
Award Winner for the second year in
a row, Davis focuses on certain classes
of investment and on doing intensive
research for his clients, who are main-
ly high net worth individuals, endow-
ments and 401(k) plans. We dont do
commodities and things of that na-
ture esoteric things. Its strictly just
individual bonds and stocks where
we do the grunt work, the get-your-
hands-dirty kind of research work, to
really get to know those companies.
He narrows the focus even more by
honing in on growth companies in
the small to mid-cap space. Thats
our real value added, he said. To re-
inforce that value, Thompson Davis
strives to avoid the infuence of pop-
ular sentiment. From 1992 to 2012,
Davis said, Stocks, as represented
by the S&P 500 index, have returned,
on average, 7.8 percent a year. The av-
erage investor during that same time
has only had a 2.1 percent return. The
question is why?
Davis believes that sentiment is
what hinders investors. One of the
challenges is using a Warren Bufet
thing to buy when theres fear in the
streets and sell when theres eupho-
ria. Its very difcult to do thatWe
have to work to change that in some
cases.
To quash sentiment-based decisions
Davis uses stop-loss orders, in the
range of 8 to 10 percent for larger cap
stocks and as much as 15 percent for
smaller, more volatile stocks. Theres
nothing wrong with being wrong in
this businessbut staying wrong is
a choice, according to Davis. That
is one thing stop-loss orders can pre-
vent.
As for what types of stock hold
promise outside of the smaller growth
stocks he mostly follows, Davis be-
lieves that the dividend-payers, cur-
rently increasing in popularity, will
continue to be strong. Investors cau-
tiously returning to the market will
seek out dividend stocks rather than
speculative issues, he said.
When you look at the S&P 500 from
1926 to 2012, dividends made up over
42 percent of the return. And while
there have been some tax increases on
dividends, dividend returns are still
considerably more atractive to inves-
tors than Treasuries, he noted.
Davis helped found Thompson
Davis & Company eleven years ago,
afer the frm he worked for was swal-
lowed up by a larger company, which
in turn was itself acquired. At that
point, he noted, I got kind of tired of
being bought out, so I started my own
frm.
The key to the success of Thompson
Davis, he believes, has been sticking
with his fnancial strategy. A lot of
people talk about staying the course
in good times or bad and I think thats
really my greatest success. Its goten
me through some very difcult times
in the market. And its kept us out of
trouble a lot, too.
by peter hochstein
THE SUIT MAGAZINE p.19
Keeping His Firm Rational and His Clients Successful
Davis Dictums
www.thompsondavis.com
THE SUIT MAGAZINE - APRIL / MAY 2013
H
ow much does your accountant know about you
and your business and more importantly, did he
or she contribute signifcant value to your botom
line? Stone Carlies clients have no trouble answering that
question in two succinct words "absolutely yes."
This full service, St. Louis-based CPA and business con-
sulting frm aims to intimately understand each and every
client, and that client's mission as well. They go beyond
the numbers to help clients thrive in all their endeavors,
including investments.
We look for clients who value the guidance we provide
in terms of designing a disciplined approach to investing.
Our clients look for and receive a customized approach
which assesses the level of risk they are willing to accept.
Our methodology is designed to be completely transpar-
ent. Our clients always know what we do and why we
are doing it, senior member Richard Kraner explained.
Kraner, a six-time recipient of the Five-Star Wealth Man-
ager's Award from St. Louis Magazine also serves as
Director of Tax and Business Services.
Currently boasting a staf of almost 100 half of whom
are CPAs over the span of more than 60 years, Stone
Carlie has grown into one of the regions largest and most
experienced frms. Ranked 11th largest among approxi-
mately 2,000 accounting frms in the St. Louis area, the
company continues to grow, providing its steadfast and
prominent clientele with superior and professional tax,
By Diane E. Alter
An Accounting Firm You Can Count On
"Going Beyond the Numbers
www.stonecarlie.com Of: 314-889-1100
Richard F. Kraner, JD, CPA, CFP, CIMA
fnancial, and business solu-
tions. Its staf is also stead-
fast, as Stone Carlie was a
fnalist in the 2012 Best
Places to Work in St. Louis
competition.
Recognizing the changing
needs and wants of clients,
Stone Carlie has successfully transitioned from a tradition-
al CPA frm into a full service fnancial services company
with an international reach. Industry focus areas include
real estate, healthcare, life science, emerging technologies,
as well as manufacturing and distribution. Stone Carlie also
includes individuals, businesses, non-profts, professional
athletes and professional services organizations among its
clients.
The benefts of having a business frmly anchored by a
well respected, successful CPA frm are boundless. At Stone
Carlie, they can provide balance for more than just ledger
sheets.
N
ot that long
ago cell phone
bateries lasted
for three days, remote
controls had one pow-
er buton and nobody
took of their shoes in
the airport. And when
people saved for retirement, the
money saved was actually avail-
able when they were ready to stop
working. Since 2008, many people
ranging from working profession-
als, who lost the majority of what
they had already saved, to newly
graduated, under-employed college
students have had to completely
reconstruct their fnancial maps.
Michael Porrey is the owner of
MAP Wealth Managers LLC, a Chi-
cago-based fnancial frm. Porrey
began his career with a private Wall
Street frm before founding his own
independent fnancial business in
1998. Porreys focus is on pre-retire-
ment and retirement planning and
on coordinating fnancial planning
with tax planning for individuals
and small businesses. When asked
what people should be doing about
401ks, he said, Clients should be
saving at least 10% toward their
by leigh held
401k.
Traditional 401ks are not the only
type of plan. The sheer number of
products, from IRAs to Roth 401ks,
can even be overwhelming. Porrey
acknowledged the problem, of-
fered, saying The tax landscape is
constantly changing, and we can-
not predict where tax rates will be
at retirement. Therefore, it may be
advantageous to diversify within
diferent tax-treated vehicles. Roths
have tax advantages that traditional
plans do not.
Some who lost money have still
not returned to the stock market.
Speaking as a realist, Porrey ex-
plained, Over the last 15 years the
stock market has been a roller-coast-
er ride. Most clients are loss-averse
and do not realize their risk toler-
ance until it is too late. The sooner
risk tolerance can be fgured out and
viable methods for saving devised,
the beter for an individuals fnan-
cial future.
One easy way to take that frst step
toward saving is to speak to a fnan-
cial advisor or even a local banker.
Financial advisors are like coaches.
They are there to guide clients to-
ward achieving their goals. Porrey
said,
Its very hard for people who are
in their mid-twenties to see them-
selves as clients. In that stage of
invincibility, saving for retirement
seems far-fetched. From experience,
Porrey knows this, saying, Even
newly graduated students are wait-
ing three to four jobs before starting
to contribute to a plan. They are los-
ing ten years.
There is no way to reverse the
clock, reclaiming our old cell phone
bateries and remotes, or feel a
deep-rooted sigh of relief in know-
ing retirement savings will defnite-
ly be there. However, there are still
options out there, like MAP Wealth
Managers, enabling educated deci-
sions. Live in the present, and think
for a brief moment about the inevi-
table fnancial future.
MAPPI NG a Financial Future
THE SUIT MAGAZINE p.21
120 N. LaSalle St., Ste 1160
Chicago, IL 60602
www. mapweal t hmanagers. com
Securities ofered through LPL Finan-
cial. Member FINRA/SIPC. The opinions
voiced in this material are for general
information only and are not intended
to provide specifc advice or recommen-
dations for any individual.
www.rsantomenno.com
CHARGNG AHEAD - BUT NOT BLINDLY
by maria esposito
I
f Wendy Pend-
leton has any
regrets about
going into busi-
ness for herself, its
that she didnt do it
sooner. She owns a
franchised Express
Employment Pro-
fessionals ofce in
Tucson, Arizona
where her business of placing people
in local jobs permanent, temporary
and contract positions has grown
1,500% over the last three years. Yes,
shes talking about Tucson, which she
admits is one of the slowest recov-
ering areas in the country, a place
where people are still looking for any
work they can get.
But the job placement industry is
clearly growing, along with the jobs
that power it. Express Employments
parent company has 615 ofces that
grew 101% from 1998 to 2012, and she
explained, We expect to grow con-
siderably over the next few years as
well.
What took Pendleton so long to get
into the business? I waited until my
son was grown. I needed the stabili-
ty of a steady job until he was out of
college. Then I started thinking about
owning my own business, she said.
Despite a background that included
25 years in sales, along with another
fve years doing stafng work for a
diferent company, Pendleton found
frsthand that starting a business
wasnt easy. As she recalls, The chal-
lenges of puting a business together
afer so many years of working for
others pushed me further than I had
been pushed before, adding, Its
been a real learning curve.
In Pendletons previous feld, she
had been a lone wolf. As an entre-
preneur, she now had to function as
team leader afer fnding the right
people to staf her own company.
Pendleton had to get tough, too, living
by the rule, Be slow to hire and quick
to fre.
Challenges presented by technology
and posed by the complex rules that
govern placing people in jobs have
been overcome by hiring a comput-
er-savvy staf. Pendleton also receives
support from the franchising compa-
ny for everything from payroll to le-
gal and HR issues.
What value does Pendleton add to
the placement services she ofers to
her clients? In todays workforce,
even contingent workers are being
pre-screened beter than ever, she
said. According to Pendleton, thats
important because, she notes, a huge
percentage of people lie on their re-
sumes.
Pendleton explains, We do back-
ground checks and two reference
checks on everyone we consider for
employment. For her client compa-
nies, this frees up time tremendously,
knowing they can trust a service like
ours to provide them with really qual-
ifed people, complete with verifed
resumes.
As time goes on, Pendleton be-
lieves there will be a growing need
for stafng services. While companies
have been relying on temporary staf-
ing because theyre not sure whats
around the economic corner, there
will an increasing challenge to fnd
full-time employees with just the right
qualifcations. Moreover, instead of
taking any job ofered, people are
going to get more specifc and theyre
probably going to be changing jobs.
Were looking forward to that.
HAPPILY SELF-EMPLOYED BY STAFFING OTHER COMPANIES
by peter hochstein
THE SUIT MAGAZINE p.39
www.expresspros.com
by diane alter
F
or some four-
a n d - a - h a l f
years, the un-
employment rate
has hovered near
or above 8 percent.
According to the
latest data from
the Bureau of La-
bor Department,
there are 3.7 unem-
ployed job seekers for every available
job. Meanwhile, those who have jobs
are desperately trying to hold on to
them, ofen working harder with
fewer resources. Many companies
must also re-invent themselves in
order to weather the stormy econo-
my by embracing change rather than
running from it. Never has the need
for inspiring, action-oriented leader-
ship been more pronounced.
Christy Geiger, owner of Synergy
Strategies, has been coaching busi-
ness owners, CEOs, executive teams
and professionals across the board
in leadership and high-level achieve-
ment skills both nationally and
internationally for more than a de-
cade. Geiger is currently writing her
new book Leadership Inside Out,
Geiger explains how, Authenticity
on the inside afects how you lead
and today more than ever those need
to be congruent and consistent, em-
phasizing, If youre a fake leader
it erodes trust. If you are authentic,
people respect you.
Although people can be successful
without a business coach, both truly
driven leaders wanting to take suc-
cess to new levels, as well as those
who are in need of basic assistance
can beneft greatly from the insights,
advice, support and feedback that
comes from working with an expe-
rienced professional such as Gei-
ger. Coaching services with Synergy
Strategies are available in many for-
mats including one-on-one, group,
telephone sessions, seminars and
workshops all combining hands-on
information with the invaluable ben-
eft of having a neutral strategic part-
ner whose feedback and suggestions
are ultimately trustworthy.
Working with a coach such as Gei-
ger can provide insights into ones
own individual strengths and weak-
nesses as well as into parts of the
working methodology that could be
problematic. Any topic can be cov-
ered. Geiger helps her clients explore
themselves, discover their natural
styles, advance to the next level, stay
marketable, communicate clearly and
remain on the cuting edge in a fero-
ciously competitive marketplace. I
tell people to plug into their energy. I
help them fnd what works for them
and keeps them on the right track. Its
important to clean house. To get rid
of the cluter and purge the things
that are slowing them down, Geiger
explained.
At the core of Geigers approach
are clarity, focus and planning. Ben-
efts of this approach include clearer
vision, motivation, optimum energy
and speed, increased productivity,
results and success. As a skilled busi-
ness coach, Geigers trained ears, eyes
and intuition help individuals maxi-
mize their gifs and talents to reach
and exceed their goals and ambitions.
She encourages people to commit to
an action. The most difcult step may
be fnding a clear direction or formu-
lating a plan, however, the closer a
career aligns with a persons purpose
and goals, the happier and more sat-
isfed that person will be.
Geigers mantra is Make It Hap-
pen. Ofering some advice freely,
Geiger shared, Whatever you do
do something. Move quickly, move
swifly and embrace change.
MAKE IT HAPPEN!
SUCCESSFULLY HELPING OTHERS TO SUCCEED
THE SUIT MAGAZINE - APRIL / MAY 2013
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P
art of President
Obamas agen-
da is to bring
manufacturing right
back to the United
States and Rich Mer-
lo, CEO of JDM Steel
Service Inc, is work-
ing hard to do just that. His product is
carbon fat-rolled and hot-rolled steel,
an essential component in equipment,
such as farm machinery, railroad tank
cars, electrical enclosures and many
other components. With three plant
locations Chicago, Houston and
Mississippi Merlos clients are main-
ly domestic, stretching from Pennsyl-
vania to California. JDM Steel is well
positioned to guarantee reliable next
day delivery to 80% of U.S. manufac-
turers, making the leaner, just in time
(JIT) manufacturing processes possi-
ble for his clients.
Merlos company survived the re-
cession of 2008, although he is in a
sector that was hit extremely hard.
The average consumer buying a car,
for instance, never considers the
health of the U.S. steel market or
where the steel in that car was even
produced. Some may think steel is no
longer even made domestically.
Detailing precisely what happened
to steel production in the U.S., Merlo
explains, It was a phenomenon that
was almost impossible to get out of.
The price of steel rose from 25 cents a
pound to 50 cents a pound in a short
period of time higher levels than we
had seen in many many years. Unfor-
tunately, it also dropped back down
into the mid-twenties and in that time
all of our customers businesses just
stopped. So, we were doing half of
what we were doing before. We had
the phenomenon of the price drop-
ping in half and the business drop-
ping in half. So, if you carried the
three months of inventory, which is
typical, now you had six months
and you had to sell it at half of what
you bought it for.
This is the same story that put many
steel companies out of business.
During this time, JDM Steel contin-
ued to grow by roughly $20 million in
sales each year with 2012 sales of just
over $102 million. Merlo concentrat-
ed on combating sof demand with a
quality product steel that is fat and
clean and delivered reliably, just in
time. U.S. buyers still pay some of the
highest prices in the world for steel.
S T E E L MA D E
by leigh held
THE SUIT MAGAZINE - APRIL / MAY 2013
However, as Merlo explained, Sof
demand is relative. Demand is actu-
ally decent in this country when you
compare it to the rest of the world.
Merlo briefy mentioned Europe-
an markets as being sofer than U.S.
markets, especially citing Spains
20% unemployment rate. Speak-
ing about the situation right here at
home, he said, In the US, we still
have more capacity than demand.
Although prices seem high compared
to world numbers, they are still at a
level where many of the mills cannot
make money. To make hot rolled steel
for $600/ton, you are nearing a break-
even or losing position for these mills
based on the cost of raw materials
and scrap.
The cost of raw materials opened a
discussion of the commodities market
and then turned to mining where
mines are located, what is done with
the giant pile of dirt afer being ex-
tracted from the mine and where the
ore is traded. Merlo said, Countries
like India and China have a huge in-
fuence on scrap pricing. Scrap is a
component of steel typically made
from recycled parts such as vehicles
and other previously consumed and
recovered metal-based products.
As far as steel is concerned, the
newly proposed American Energy
& Infrastructure Jobs Act the larg-
est transportation reform bill since
the creation of the Interstate High-
way System in 1956 would have
an immensely positive efect on the
American steel industry. Merlo cred-
its JDMs success to his talented and
dedicated workforce as well as JDMs
13 year involvement in The North
American Steel Alliance, a coopera-
tive of independent steel distributors.
While that has yet to be made con-
crete, Merlo is dedicated to growing
his business through diversifcation
and value-added services, all deliv-
ered just in time and right here at
home.