Obama seeks budget-deal support from Republicans | Service industries show surprising strength | How sequestration might affect corporate taxes
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March 6, 2013
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Business Finance Today
Obama seeks budget-deal support from Republicans
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Putting talks with GOP leaders on the back burner for a while, President Barack Obama is reaching out to rank-and-file Senate Republicans to build support for a budget deal with higher taxes to pay down U.S. debt. Obama told senators that he is willing to make changes in health care and retirement programs to get a budget compromise that includes higher taxes. The Washington Post (3/5), Bloomberg (3/6)
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Service industries show surprising strength
Momentum is evident in service industries, with the Institute for Supply Management's nonmanufacturing index rising unexpectedly last month, to 56, from 55.2 in January. Resurgence in the housing market is cited as a supporting factor, along with a gradually firming labor market. Bloomberg (3/5)
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Your Bottom Line
How sequestration might affect corporate taxes
Sequestration might reduce refundable credits for certain tax-exempt bonds, including Build America, Qualified School Construction, Qualified Zone Academy, New Clean Renewable Energy and Qualified Energy Conservation bonds. Also possibly affected is the refundable portion of the Small Business Health Care Tax Credit, the Internal Revenue Service says. Accounting Today (3/5)
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Study examines companies' cost of health insurance
The Patient Protection and Affordable Care Act is expected to increase companies' cost of health insurance, especially as more employees opt for benefits. A study by the ADP Research Institute uses companies' experiential payroll and benefit data to calculate the realistic cost. CFO.com (3/5)
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In the C-Suite
This question makes you more productive at everything
Every task or project, even a mundane one, should begin with you asking what a "wildly successful" outcome would look like, says Mike Williams, president and CEO of David Allen. "If you ask that question upfront, you co-create success: Everyone knows what you're shooting for and actively works towards making it happen," he said. Inc. online (free registration)/Owner's Manual blog (3/5)
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5 steps to building a network from scratch
Start your network by reaching out to one person and building from there, Gauri Sharma writes. There's no need to be squeamish about asking for a favor, as most people enjoy helping colleagues and will appreciate your request. The biggest area where new networkers can improve is in their follow-ups, Sharma writes. Forbes (2/28)
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Once again, the U.S. government's overspending is front and center on the world stage. What will happen with the sequester?
It appears that 61% of you chose correctly. A small group thought there would be serious spending cuts and no additional taxes. About 30% thought we would continue to tax and spend.
Nothing, which means automatic cuts will kick in  61.09%
Compromise, with more taxes and more spending  27.62%
Compromise, with serious cuts to spending and no additional taxes  6.69%
I have no idea  4.60%
Yahoo's CEO engages in a constant "thought experiment" about who could do a better job as CFO and chief operating officer. How secure do you feel in your position? 
VoteVery secure
VoteSomewhat secure
VoteI'm constantly looking over my shoulder
VoteThere is no corporate loyalty
On the Move
Jon Kimmins is tapped as CFO of Men's Warehouse
Kimmins is a 30-year industry veteran, most recently executive vice president of finance at LF USA. RTT News (3/6)
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Mark Pinney becomes Vimeo's first CFO
Pinney was CFO at subscription wine service Lot18. Before that, he was CFO at video network Tremor Video. American City Business Journals/New York (3/5)
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Off the Charts
Scientists let loose great white shark off Fla. coast
Scientists have tagged and released a great white shark near a popular surfing site off the coast of Florida. To concerned residents, they said, "These sharks have probably been [swimming in this water] for eons." GrindTV (3/5)
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Editor's Note
Help SmartBrief cover SXSW Interactive!
SmartBrief will cover the South by Southwest Interactive Festival through Tuesday in Austin, Texas, and we need your help! SXSW has too many must-see events for our staff to cover, so we're turning to readers to help document the best panels as blog contributors. If you're headed to Austin and want to contribute to SmartBrief's blogs on social media, leadership, finance, food and beverage or education, check out our guest-post guidelines and send a note to Jesse Stanchak.
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A great way to be significantly more productive is to start anything you're about to do with one question: What does a wildly successful outcome for this meeting, project, conversation -- whatever it might be -- look like?"
-- Mike Williams, president and CEO of David Allen, as quoted by Inc.com
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