About rocitpower

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So far rocitpower has created 22 blog entries.

There’s more to relationships than networking

“The man who creates personal interest, is the man who gets ahead. Be liked and you will never want.” — Willy Loman in Arthur Miller’s “Death of a Salesman.” Willy Loman never did understand that there was more to success than being liked. A couple of years ago I was asked to give a talk [...]

What is Rochester’s advantage? It’s our people

I was talking to Tony DiBarnaba the other day about the company he founded 20 years ago.  Benefit Resource employs 100 in a new, 30,000-square-foot corporate headquarters in Henrietta. Benefit Resource pioneered, and is a leading provider of, company-sponsored tax advantage commuter and health plans using debit cards. In addition to the corporate headquarters, it has offices [...]

Casinos Are Unlikely Growth Strategy For State

Gov. Andrew Cuomo laid out his economic priorities in his recent State of the State address. Apparently, he has determined that the next gold mine for upstate New York are casinos, which have proven to be the most significant voluntary tax available to state governments. The governor rightly points out that the state has been [...]

Possible B+L sale isn’t good news for Rochester

It started with a simple handshake in 1853 between John Jacob Bausch and his friend Henry Lomb. Lomb loaned Bausch $60 to start an optics company with the promise that if it grew they would become full partners. This handshake gave birth to Bausch + Lomb, a great American business success story until the early [...]

An Outside View of Business World From Inside

“I knew if I stayed around long enough, something like this would happen.” — Epitaph on George Bernard Shaw’s tombstone Not that I can write like Shaw, but believe it or not, after hanging around for three years, the Democrat and Chronicle has asked me to write a regular column about life in our business [...]

2013 Benefit Plan Limitations

For any questions please contact bschiedel@burkegroup.com

The (Former) SFAS 106 and GASB 45 II

In part 1 of this series on the experience subsidy, we looked at how premium rates are set. Today we are going to look at another one of the facts of life: aging. Everybody does it, and each year we are all another year older. As we get a little older every year we get a [...]

The (Former) SFAS 106 and GASB 45

Even on their best days, FASB and GASB accounting rules can be hard. These are complex, jargon filled documents that outline rules for recognizing expenses that are often quite esoteric. And sometimes, what seem like minor changes can result in drastic shifts in liabilities and unexpected expenses. For example, SFAS 106 and GASB 45 require [...]

Bridging the Retirement Gap

401(k) participants are not getting any younger and many face the harsh reality of working beyond normal retirement age to fund the type of lifestyle they desire at retirement. Currently, there are proposals before Congress to include annuity illustrations otherwise know as "Gap Analysis" on participant statements to present a snapshot of any projected "Gap" [...]

Finding Common Ground In The Peer Group Selection Process

What happens when there is no consistency when evaluating a company’s proxy statement and their peer group? We are beginning to find out now. With the recent trends of greater scrutiny in executive pay, it is becoming more and more important for companies of ALL shapes and sizes to properly evaluate how they pay their [...]