Table of Contents

From the Desk of Laura Crawford

From the Chairman of the Board

Proposed Rules Would Help Clarify 401(k) Fees

The Coming Assault on Small Business

Go Back to School with Chamber Marketing

Thank You!

From the Desk of Laura Crawford...

What Have We Done for You Lately?

As we near the end of our fiscal year, we’d like to take a moment and look at some of the Chamber’s accomplishments for the first three quarters of the year.

Serving as your voice for business is an important role in Chamber activities. The Legislative Committee has welcomed several elected officials including Representative Judy Biggert, State Representatives Sandra Pihos and Patti Bellock, State Senators Kirk Dillard and Dan Cronin, the Director of the Illinois Tollway Authority, and Mayor Ron Sandack. The Legislative Committee is regularly attended by DuPage County Board members and Village staff. We communicate regularly with not only our local officials but any legislator that may sponsor a bill pertaining to business. The Chamber wants to ensure that our Members have the ear of legislators who impact the business community.

We have also taken positions on a number of important issues. The Chamber has opposed diverting school funding to Springfield for distribution instead of maintaining the current local control of our excellent schools. With an increase in personal and corporate income tax, this bill is a $67 million tax increase and includes no proposed fiscal reforms. This bill will very likely be addressed in the veto session. In March, the Chamber led a first ever regional business effort to Springfield, uniting five business organizations. Members met with almost every official, discussing our platform and support of the Belmont Underpass. This effort led to a visit by DuPage County Board Chairman Robert Schillerstrom, who should be congratulated on his efforts, helping to garner the necessary final funding for the Belmont Underpass from IDOT.

The Chamber has also opposed a bill in the State legislature to mandate that a privately funded business in a Tax Increment Financing (TIF) district would have to pay prevailing (union) wages. This particularly impacts the TIF districts in downtown and Ogden Avenue. The Structural Workers Act was another anti-business piece of legislation proposed this past session and we voiced our position. This bill would allow a worker who was receiving Workman’s Compensation (we pay the highest rate in the nation) to sue any party related to the project in which the injury occurred – all the way to the architect who designed the building! Luckily, this bill did not pass. In an effort to strengthen the voice of business, the Chamber has also assisted in the formation of two new alliances – the Ogden Avenue Alliance and the Hospitality Alliance. The Ellsworth Park taskforce also still meet on a regular basis. These new groups focus on the special needs and demands of their unique areas.

We are hard at work on our new full-color glossy magazine/business directory – IN Downers Grove. We hope you have placed your ad order! The deadline is August 15. This year we have also launched new regular print and email publications. BizWord, the weekly email newsletter has met with terrific response and Members are forwarding it on. The monthly mailer, info@downersgrove.org, has provided Members with a concise snapshot of the Chamber’s monthly events and several levels of advertising options. With presence in the Business Ledger, Downers Grove Reporter, DGTV, and more, we are reaching out to make sure people think of the Chamber first. You may have even seen us distributing downersgrove.org magnets at the Independence Day parade!

Your Chamber continues to offer professional development and networking opportunities. Recently we have featured quality speakers from the Small Business Administration, Business and Professional Institute, and SCORE. Join us for a Chamber tradition – the multi-chamber progressive networking luncheon on August 13. Don’t miss this chance to meet members from area chambers and build your business. We hope that you take advantage of our regular Business After Hours, Business Roundtable, Committee and Network Meetings. Don’t forget! The Chamber offers three referral groups to build your business – Chamber FIRST, Leads Organization of Downers Grove Executives, and the Women2Women Referral Group. Check them out today and thank you for your Membership. We’re ready to earn your business!

lcrawford@downersgrove.org 630-968-4050 x14

From the Chairman of the Board

September marks the end of the Chamber’s fiscal year as well as new beginnings! We will celebrate our outgoing Board of Directors and Committee Chairs and welcome our new leadership at the Black & White Ball presented by D3 Financial Counselors on Saturday, September 20. I hope you will be able to join us.

I am thrilled to announce five new Directors for the Board. Diana Conley of Advotek, Inc. brings her extensive business acumen and many years of chamber experience back to the Board. Diana has served on several boards including the Illinois State Chamber of Commerce, National Association of Women Business Owners and has been named one of the “Influential Women in Business” in 1998. You may remember Mary Lynn Fayoumi and the Management Association as our winner of the Chamber Choice Award for Overall Business Excellence. Mary Lynn brings her extensive human resources expertise as well as several years of experience at the helm of a complex membership organization. She has also served on several charity and professional boards. Mattine Gallentine of MG Computer will lend her considerable entrepreneurial experience as well as her dedication to supporting the community. Actively involved in Rotary, the National Association of Women Business Owners, and the Chamber, Mattine credits Chamber membership with growing her business exponentially. Dean Malone of Midwestern University brings his many years experience with the complex finances of a university with campuses in two different states. Dean also has served on his local school board, as well as healthcare and financial industry boards. Dawn Tuskey and IHM Remodeling Repair Contractors is another honoree from this year’s Chamber Choice Awards. Also honored by the Better Business Bureau, Dawn’s entrepreneurial passion and industry expertise will add a bright spark to the Chamber’s Board.

Please welcome and extend your congratulations to these fine additions to our Board of Directors. Also, please bid a fond farewell, as the following Members, step down as Director:

Keith Hoffman, 1st Advantage Mortgage
Karen Johnson, Midwestern University
Lynn Kristufek, Kristufek & Associates
Lisa Rasin, Business Machine Agents

We value their many years of experience and dedication that has brought the Chamber to it’s current excellence. Don’t forget to save your table at the Black & White Ball presented by D3 Financial Counselors today! Don’t miss out on stunning silent auction items, drawings for gorgeous jewelry and a 52” LCD TV from Best Buy.

The Coming Assault on Small Businesses

By Thomas J. Donohue, President and CEO, U.S. Chamber of Commerce
You can't say today's union leaders don't appreciate irony. Last week, one of the nation's largest unions held a global rally protesting our system of free enterprise and capital investment. The union called it the "Take Back Our Economy" rally. Well, if it manages to push through its radical agenda, what it will do is "Take Down Our Economy."

In fact, the agenda of a handful of national unions represents a direct assault on America's small businesses. Their top priority is passage of the deceptively name Employee Free Choice Act, commonly referred to as "card check." The bill would make it cost effective for unions to go after Main Street businesses and small retail establishments.

That's because the legislation would eliminate the expense and worker protection of secret ballot elections. It would give union organizers free rein to pressure workers into signing authorization cards. Once enough workers are persuaded to sign, the union would automatically be certified, and it would be illegal for workers to have a secret ballot election. Then the bill would implement a compressed schedule for employers to bargain with their new union. If an agreement isn't reached in time, a government-mandated arbitrator would dictate the terms and conditions of employment and hand the employer a contract—and even the workers wouldn't get a chance to vote on it.

But there's more. Also high on these unions' agenda is allowing the establishment of mini-unions. For example, organizers could go in and just sign up two or three people--not even a majority--and then you've got a union! Big labor also wants to mandate employer-paid leave and health care regardless of ability to pay, criminalize OSHA violations, nationalize health care, and increase taxes and the size of government.

How do these unions hope to implement their agenda? They are betting the house that their path to renewed power--the way to get everything on their wish list--is to elect a pro-union Congress and administration in 2008.

Can they do it? It's possible. Collectively, unions could spend $400 million to $500 million this election cycle. Of course, unions have a right to participate in the political process, but so does the American business community--and we must if we hope to maintain a free and open economy.

2008 will be a watershed year for the future of organized labor. These unions are not playing around, and neither can we. To help stop big labor's anti-small business agenda, visit VoteForBusiness and sign our petition against card check."
Originally published 22 July 2008. Reprinted by permission, uschamber.com, August 2008.
Copyright© 2008, U.S. Chamber of Commerce.

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Proposed Rules Would Help Clarify 401(k) Fees

by Mary Lynn Fayoumi, CAE, SPHR, GPHR, President & CEO of the Management Association

On July 23, the U.S. Department of Labor (DOL) published proposed regulations which would require the disclosure of uniform, basic plan and investment information to all participants and beneficiaries in 401(k) plans. The popularity of these plans has risen steadily over the years, making them the primary retirement savings strategy for most Americans. For many employees, trying to determine how much they are paying in fees for the various accounts in their 401(k) and for administrative expenses has been difficult at best.

If implemented, these new regulations would require employers that sponsor 401(k)s to provide their employees with details that would make comparisons between historical investment returns and plan expenses possible. The proposed regulations are open to public comments until September 8, 2008, after which the DOL will analyze the comments and then draft final regulations, which are expected to take effect January 1, 2009.

The proposed regulation, "Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans," is part of an overall effort by the DOL to make 401(k) fees more accessible to workers. Two other regulations have already begun moving in this direction by requiring financial firms to disclose compensation they receive for their services and for employers to more clearly indicate fee information in retirement-plan filings (Form 5500). There has been a mostly positive reaction to the new regulations depending on the vantage point. The DOL projects that the newest proposed regulation will result in a net savings of $6.1 billion for workers and their beneficiaries between 2009 and 2018 with a third of the savings coming from reduced fees.

Employers need to be aware of their obligations under passed and proposed regulations, as the DOL estimates that 437,000 plans are covered as well as 65 million participants. If you need additional assistance in this area, please seek guidance from your plan's service providers (recordkeepers, investment consultants, etc.)

Go Back to School with Chamber Marketing!

In these interesting times, Chamber marketing offers terrific value for the price. Many advertising opportunities are available for every budget including:

Website banner ads - reach out to businesses and consumers with an ad on downersgrove.org! Many levels available.
Info@downersgrove.org - shine in full color in our new mailer! Discounts available for six or year-long commitments
BizWord newsletter - feature your business as a banner or medallion ad
Member2Member Update - highlight an offer, showcase an event in this weekly email piece. Discounts available for six or more ad commitments.

These are just a few of the many ways you can have your business featured with the Chamber. Visit HERE to see the complete list or contact Jane Abe at 630-968-4050 x11.

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Thank You!

ScotPress Printing for hosting the Multi-Chamber Business After Hours in July.

Events by Tommy R's for surprising the Chamber staff with a decadent sweet tray.

Thank you to the following Ambassadors for making outreach calls:

Norb Farnaus – Farnaus & Associates

Keith Hoffman – 1^st Advantage Mortgage

Joe Marchioretto – The Entrepreneur’s Source

Jennifer Murray – J. Murray & Associates

Rick Mytnik – Illinois Business Systems

Neil Olson – Expectec Technology Services of Naperville, Inc.

Lisa Wenzel – Wenzel Select Properties