Withdrawal liability by: Michael McNally
"Withdrawal liability is a topic that contractors generally associate very negative feelings with. Withdrawal liability is also very complex. Why withdrawal liability exists, how it is triggered, how it is calculated, and strategies to minimize the passage liability in transfers of ownership are all frequently not well understood. When exploring purchasing another signatory employer, selling a business, or developing succession plans, withdrawal liability and the potential consequences depending on how a transaction is structured are items that must be considered. For sheet metal and plumbing contractors in particular, knowing whether the special building and construction industry exemption applies to their business is critically important."
"As part of our effort to provide members with knowledge to improve and benefit their businesses, PMC/SMACCA will be recording a podcast and hosting a seminar to discuss withdrawal liability. The podcast will provide a summary of the topics, and the seminar will discuss them in greater depth. The seminar will cover everything from the basic questions to the high-level technical ones and give all attendees an opportunity to ask their questions and get answers. Our speaker for both of these will be Michael McNally. Michael is with the law firm Felhaber Larson in Minneapolis, and is SMACNA National’s outside Labor and Benefits Counsel. He has alot of experience and expertise in withdrawal liability and works with contractors across the country in helping them understand the complex issue of withdrawal liability, developing strategies and, when needed, resolving disputes. Michael has published a guide that is a useful resource for contractors and can be found here."
Please plan on attending this seminar, to be held on Wednesday, May 10th, beginning at 11:30am at PMC/SMACCA's offices. If you are unable to attend in person watch via live webinar. (Separate registration is required.)
If This Were My Mother's House
By: Mark Matteson
"When someone we trust and believe, say a technician that comes into our home or business says to me, “What I would do is...” or “If it were me, I would...” I really listen. Hey, that’s what I said when I was a Chimney Sweep to my residential customers in my early twenties. It’s what I said when I was an HVAC technician in my late twenties to building owners. I spoke in the first person, honestly, authentically and sincerely. What followed was why my close ratio was over 75%...detachment.
Detachment sounds like this, “But hey, its your house (or building), you do what you think is best. I gotta go!” Detachment is a honest indifference. There is no quiet desperation or smarmy manipulation. Its simply your opinion. It’s what you would tell your mother. Hey, who would give a raw deal to their mother? No one I know.
If you think about it, no one likes to be sold. We like to buy. It has to be our decision. Give me the information, raise my awareness with tact and compassion, offer a few choices, and then shrug your shoulders as if you didn’t care which option I chose. I especially like, “Talk it over with your wife...” or “Give some thought to what makes sense to you...I’ll be back in touch.” Then smile, leave and get back to them in a couple of days. That’s what I like.
Professional persistence is following up when you say you will, via text, email or voice mail (or all three) with that same detachment in your voice. Remind me but don’t stalk me. You are not Ben Stiller, she is not Cameron Diaz in “Something About Mary” so be a pro. Listen to the nuances in their voice and read their body language. What is the subtle subtext, the unspoken implication?
Sales is simple. TRUST, RELATIONSHIPS, COMPETENCE, TIMING and FOLLOWUP. Build the TRUST by asking questions and listening; Form the RELATIONSHIP by being considerate and flexible; Do your job by fixing it right the first time thereby demonstrating COMPETENCE; when its time to ask for the sale it’s a TIMING issue and by all means FOLLOW UP, by being assertive and asking for the sale. Five simple steps.
Earl Nightingale once wrote, “If integrity didn’t exist someone would most certainly invent it as the fastest way to become rich.” He was right.
I need to call my mother... "
Source: Mark Matteson