Flashings

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Small-business owners spend and save less

According to the Wells Fargo/Gallup Small Business Index survey released in late June, more than one-third of small-business owners say their personal financial situation is getting worse.

Half of the survey's respondents say they have postponed a major purchase during the past three months, and 44 percent say they have reduced the amount of money they deposit into their savings or checking accounts. Thirty-one percent of respondents say they have reduced the amount they contribute to their retirement funds.

The survey also indicates small-business owners are concerned about future expenses. Seventy-five percent of those who responded expressed concern about paying for gas; 51 percent are worried they will not have enough money for the next 12 months' medical and dental expenses; and 46 percent fear they will not have enough to pay for unforeseen medical expenses.

The Wells Fargo/Gallup Small Business Index is a quarterly report based on telephone interviews with 600 owners of various small businesses throughout the U.S.

Rohm and Haas announces job cuts

Philadelphia-based Rohm and Haas Co. has announced it will cut 925 jobs in an attempt to restore its profitability. The job cuts will occur primarily in North America and are expected to result in an estimated $0.35 per share charge for the second quarter of 2008.

Rohm and Haas also announced a 30 percent reduction in its emulsions network in North America; reductions in overhead for the company's Specialty Materials group in mature markets; adjustments in the company's infrastructure for its Electronic Materials group; and numerous initiatives in other businesses and regions.

"Many of these actions have been discussed publicly in recent quarters as initiatives that would restore profitability, address the changing needs of our customers and contribute to our growth initiatives," says Raj L. Gupta, Rohm and Haas' chairman and chief executive officer. "We are now convinced it is a more prudent course of action to accelerate the implementation of these plans due to the rapid erosion of business conditions in the U.S. and the impressive growth of our business in many rapidly developing economies."

Stay positive with departing employees

Departing employees can provide valuable insight about your business. Following are tips for maintaining positive relationships with employees who have announced they are leaving your company:

• Be supportive. Tell the truth, and remain polite. Be supportive of all employees, and express your appreciation for valuable employees' work.
• Clarify the departure process. Review security measures, confidentiality requirements, and forms and equipment that must be returned. Be careful not to sound threatening when explaining these procedures.
• Ask for cooperation. You may ask departing employees to assist in completing in-progress work, updating job descriptions or training their replacements.
• Prepare them for the exit interview. Explain what will be discussed during the interview. Don't surprise departing employees by asking questions about sensitive materials without giving them time to prepare.

Source: Adapted from The Manager's Intelligence Report, June issue

General Motors installs world's largest solar roof

Detroit-based General Motors Corp. has partnered with NRCA member United Solar Ovonic LLC, Auburn Hills, Mich., to add a rooftop solar photovoltaic (PV) power installation to General Motors' car assembly plant in Figueruelas, Zaragoza, Spain.

According to General Motors representatives, the rooftop PV power installation will be the largest in the world, covering about 2 million square feet and incorporating about 85,000 solar panels. United Solar Ovonic is providing its UNI-SOLAR® thin-film flexible laminates for the project.

When fully operational, the PV power installation reportedly will generate about 12 megawatts of power at its highest output. General Motors expects the installation will generate about 15.1 million kilowatt-hours (kWh) of power annually, which the company states is equivalent to the demand of 4,575 households with an average annual consumption of 3,300 kWh in Spain.

Details

David P. Pastore

What is your position within your company?
Chief executive officer and president of Upstate Roofing & Painting Inc., Rochester, N.Y.

Why did you become a roofing contractor?
Basically because the opportunity presented itself and I had a family to feed. I started out working in an architectural office during the day and gladly jumped at the chance to make some extra money by working at night with one of the on-staff architects installing (at that time) specialty single-ply roofing. That staff architect eventually left the architectural firm to start his own roofing business and took me with him. His basement became our office, and my car became our truck. I eventually bought the business from him and today am fortunate enough to be surrounded by 75 of the best people in the roofing and painting business.

What was your first roofing experience?
Pulling gravel up to a roof using a rope and 5-gallon bucket

When you were a child, what did you want to be when you grew up?
A creator. I've always been able to see things in my mind's eye and enjoyed using my hands to make those images become a reality.

List three words that best describe you.
Dependable, trustworthy and sincere

If you could travel anywhere in the world, where would you go?
To visit my grandchildren wherever they may be

What three items are always in your fridge?
Diet Pepsi, olives and Chateau Ste. Michelle Riesling (my wife Marg's favorite wine)

What is your favorite movie?
"Rocky"

What is your biggest pet peeve?
Light switches in the wrong position—down when the light is on and up when the light is off. Drives me nuts!

What quality do you most like in a person?
Integrity

If you could invite any three people to dinner (dead or alive), whom would you invite and why?
My grandfather Clayton Nichols because he taught me how to build things and could still teach me a thing or two today, I'm sure. My good friend Paul Lortie—I can always count on Paul to make me laugh until I cry whenever we're together. My newest granddaughter Madison (whom I call Wiggly). Madison melts my heart.

What is your favorite part of your job?
My teammates—they're family to me.

What is your roofing industry involvement?
I've served as a director for the New York State Roofing Contractors Association, am currently a member of RoofConnect's Executive Committee and have just begun a three-year board of directors term with NRCA.

People would be surprised to know…
I'm painfully ticklish.

Increase employee feedback

Some managers find it challenging to give employee performance reviews. Following are some tips to help make the process easier for managers and employees:

• Be sure to give employees feedback often—not just during performance reviews. This can help take pressure off formal reviews and allow employees to correct minor performance problems before the problems become more serious.
• Make sure employees know exactly what is expected of them. Break complex jobs into smaller parts, and explain your expectations for each part. Give employees frequent updates and feedback related to each job's progress.
• Include advice in your feedback. If an employee's performance does not meet your expectations, make specific suggestions for improvement.

Source: Adapted from The Manager's Intelligence Report, June issue

Employees can be encouraged to delay retirement

The 2008 Recent Retirees Survey, a report released by the Employee Benefit Research Institute, finds there may be tools and practices employers can use to encourage employees to postpone retirement.

Nearly half of the recent retirees surveyed for the report indicate that feeling needed for an assignment would have been "extremely" or "very" effective in encouraging them to delay their retirement. Of those ranking this as one of the most effective incentives, 72 percent say it may have prompted them to stay at least two more years at their jobs.

Thirty-eight percent of retirees surveyed report that being able to work seasonally or on a contract basis would have encouraged them to delay retirement. Among those ranking this as one of the top incentives, 77 percent say it might have prompted them to stay at their jobs for at least two additional years.

Additionally, 50 percent of retirees with a defined benefit pension state that receiving a full pension while working part time would have been effective in encouraging them to delay retirement. Nearly as many retirees feel this way about receiving a partial pension while working part time. However, this would necessitate changes in federal law, and several other compensation-related incentives also may encourage employees to delay retirement.