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Bernard Madoff, convicted of running an $65 billion Ponzi scheme, was sentenced to 150 years in jail. What’s your take on his punishment?

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By Knight Kiplinger

The Kiplinger Washington Editors

July 2, 2009

By year-end or so, Congress will give the nod to a major rewriting of the nation's financial regulatory system. This week’s Kiplinger Letter explores whether the package will do more harm than good and what lawmakers are likely to include.

ALSO IN THIS ISSUE: The Economy, Business Costs, Taxes, Supreme Court, Energy, Workplace Regulations, Climate Change, Health Care Legislation and Foreign Policy

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I just attended a franchise seminar. The speaker represents a few hundred franchises that (he says) are hand picked. He has the prospect (aka victim?) answer some questions about themselves then he makes recomendations - based on your personality, capital situation, etc.. If you pick a franchise, then he does some due dilligence for you. If you both decide it's a good idea, he helps you get started. He says he offers this service free of charge, which means he gets a commission if he's able to sell you a franchise. Has anyone done this? Successfully? Unsuccessfully?

-- fender

Reduce Insurance Costs Through Risk Management

Putting thought, time and training into reducing risks could help lower your insurance bill. It also can save huge headaches -- and even lives.

Worth Reading: The Quick Take from Kiplinger

July 2007

Insurance Information Institute

The New York-based Insurance Information Institute is a nonprofit clearinghouse of information about how insurance works and what it does.

Larger companies have highly paid officers and even entire departments dedicated to reducing the risk of loss -- whether it be to a disaster, theft or liability due to everything from a bad fall to wrongful treatment of an employee. But, small businesses rarely have that luxury and the owner or a senior manager has to mix that responsibility into their other duties. And, giving that responsibility short shrift, constantly delaying the design of a training program or setting up regular inspection of fire alarms could be disastrous. The threats to a business are varied and complex.

"Crime, vandalism, fire, a personal injury lawsuit, a computer virus, equipment breakdown, nondelivery of raw materials, death or illness of a key employee...the list of adverse events which can cause economic harm to your business or organization goes on and on," the Insurance Information Institute (III) warns. Fortunately, between the Internet, your insurance agent and other resources, plenty of advice and checklists are available. III is a good place to start. In Risk Management Basics, III discusses the wide range of risks that businesses must deal with and strategies for reducing those risks and limiting exposure through insurance.

The following summary explores in detail some of the most basic threats: fire, theft and liability. But, small business owners must look at every aspect of their enterprise. Is there a plan for dealing with product complaints or liability suits? A disaster preparation and recovery plan? Is the irreplaceable electronic information adequately protected, and how? Are there established rules for driving company vehicles and procedures for weeding out bad drivers while rewarding safer ones? The full III article covers those areas, as well.

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