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TUESDAY,
MARCH 15, 2005
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%S|§|Mr
Chris Kinnas
Investment Advice
How good an
investment is
your home?
Most people agree that
home ownership is a good
thing. But is a home really
an “investment”? In a way,
it is. But keep this in mind:
Your home, by itself, is
almost certainly not the
type of investment that’s
going to help you meet your
long-term goals, such as a
comfortable retirement.
Many people think that
because they put so much
money into their homes,
they are bound to be hand
somely rewarded in the
future. And it is true that,
over a long period of time,
home prices generally rise.
In some parts of the coun
try, though, home values
have fallen for several years
in a row before recovering.
Still, if you live in a house
for many years, the chances
are pretty good that you will
end up making a profit
when you sell. And if you’ve
owned and lived in your
home for at least two years
within the five years preced
ing its sale, you can exclude
up to $250,000 in capital
gains, or $500,000 if you’re
married and filing a joint
return.
Of course, after you sell
your home, you’ll have to
live somewhere, so some of
your profit will need to go
toward a new residence. But
if you “downsize,” you could
end up with a nice sum of
money. Will it be enough to
finance your retirement,
help pay for your children’s
(or grandchildren’s) college
education and meet whatev
er other goals you have?
Probably not. And that’s
why you’ll still need to build
a diversified portfolio con
taining high-quality stocks,
bonds and other securities.
Generating Cash from
Your Home
Even if you can’t count on
your home meeting all your
long-term financial goals,
you can use the equity in
your home to help boost
your ' cash flow.
Consequently, you may be
able to avoid tapping into
your long-term invest
ments, so you can continue
making progress toward
your important objectives.
Here are two of the most
common ways to get money
out of your home:
• Home equity loan
You can generally get this
type of loan at a competitive
rate, and the interest may
be tax-deductible. (To make
sure of the tax deductibility,
though, you’ll want to con
sult with your tax adviser.)
You can use the loan for vir
tually any purpose you
choose, but keep in mind
that you’re pledging your
house as collateral so you
have to be sure you can
afford the loan payments.
• Reverse mortgage lf
you’ve paid off your home,
you might want to think
about taking out a reverse
mortgage. This is a special
kind of loan that enables
you to convert your home
equity into cash, either
through a line of credit or
installment payments.
Essentially, you’re selling
back part ownership of your
home to your lender.
Reverse mortgage programs
See KINNAS, page 7A
Robertlger to succeed
Michael Eisner as Disney CEO
By GARY GENTILE
AP Business Writer
LOS ANGELES - Michael
Eisner, the longtime CEO of
The Walt Disney Co., will
step down a year earlier
than expected, handing over
the reins to Robert Iger and
ending a tumultuous stint
atop the entertainment
giant.
Iger, 54, the firm’s current
president and chief operat
ing officer, on Sunday was
named to succeed Eisner as
chief executive. He will
assume his new role Oct. 1.
and will co-lead the compa
ny with Eisner during the
transition, Disney’s board
said.
He inherits the company
as it continues an earnings
recovery, opens a new theme
park in Hong Kong, enjoys a
ratings boost at its ailing
ABC network and builds on
success of its dominant
ESPN cable network.
“This is not a broken com
pany. If things go right for
Bob, it could be a phenome
nal performer in the next
few years,” said Larry
Haverty, a portfolio manag
er at Gabelli Asset
Management.
Iger will face many chal
lenges, however, including
repairing some of the rela
tionships damaged by
Eisner, negotiating broad
cast rights with the NFL,
expanding Disney into
China and India, protecting
its content from piracy
Orthodontist to continue
as GAO officer
WARNER ROBINS -
Local orthodontist Dr. Gary
L. Pool will continue to
serve as secretary-treasurer
of the Georgia Association of
Orthodontists at the recent
annual meeting held at the
Ritz Carlton/Lake Oconee.
GAO is a non-profit organi
zation of 245 orthodontists
in Georgia.
Pool is also a member of
the Southern Association of
Orthodontists, the
American Association of
Orthodontists, the
American Dental
Association and the Georgia
Dental Association. Pool is
board certified by the
American Board of
Orthodontics.
Pool received his pre-den
tal education at the
University of Georgia, his
DMD from the Medical
College of Georgia and his
orthodontics training from
University of Tennessee. He
opened his orthodontic prac
tice in Warner Robins in
1987.
Orthodontists are dental
specialists who put braces
on the teeth of adults and
children to build esteem by
making their faces look bet
ter and improve their dental
health by helping them bite
correctly.
The Southern Association
of Orthodontists is one of
eight regional subgroups of
the American Association of
Orthodontists. Founded in
1921, the SAO has approxi
mately 1,900 members and
includes the states of
Alabama, Florida, Georgia,
Kentucky, Louisiana east of
the Mississippi, Mississippi,
North Carolina, South
(To send in your event for
the Business Calendar, fax
the details to 988-1181, e
mail to hhjfivevansnewspa
pers.com or mail to Houston
Home Journal, P.O. Box
1910, Perry, GA 31069. The
deadline for inclusion is 5
p.m. Fridays.)
Business
while embracing new tech
nology, and warding off
another shareholder chal
lenge from disgruntled ex
directors Roy E. Disney and
Stanley Gold.
Eisner, who said he would
step down in 2006, will end
his tenure at the company
after serving 21 years. Iger
will become only the sixth
leader of Disney in its histo
ry.
Iger is seen as less polariz
ing that Eisner, a trait that
might give Disney another
chance to cut a new deal
with longtime partner Pixar
Animation Studios, the
makers of such hits as this
year’s Oscar-winning “The
Incredibles.”
“I think probably Bob has
better success doing some
thing that could benefit the
Disney shareholders,”
Haverty said.
Pixar CEO Steve Jobs has
said he would wait before
talking to other studios
about distributing his films
until after Disney choose
Eisner’s successor. Pixar has
one more film to deliver
under its current Disney
deal.
Iger, who was named pres
ident in 2000, has already
won praise from Miramax
Films co-chairman Harvey
Weinstein.
Eisner has repeatedly
clashed with brothers Bob
and Harvey Weinstein since
Disney bought the inde
pendent studio in 1993.
Disney is close to ending its
BUSINESSPEOPLE
Carolina. Tennessee,
Virginia and West
Virginia. The purpose of
the non-profit organization
is:
• To advance the art and
science of orthodontics,
• To encourage and spon
sor research,
• To strive for optimal
standards of excellence in
orthodontic education and
practice, and
• To make significant con
tributions to the dental
health of the public.
Gayton lectures
on LASER
PARK CITY, Utah - Dr.
Johnny
Gayton of
Eyesight
Associates
recently
traveled to
Park City to
lecture on
the use of
LASEK to
enhance the
results of
other refractive procedures.
Performing a LASEK
enhancement after other
refractive procedures has
enabled many patients dis
appointed with their LASIK
and other refractive proce
dure results to achieve bet
ter vision.
LASEK is a method of
laser vision correction with
out performing a stromal
flap. This results in a cornea
that maintains its structural
integrity and fully heals.
Gayton is widely regarded
as one of the nation’s lead
ing experts on LASEK, hav
ing performed it for five
years. He has lectured on
the benefits and technique
BUSINESS CALENDAR
March 21: Secrets of
Small Business
Marketing Strategies
MACON - This seminar,
sponsored by the University
of Georgia Small Business
Development Center, will
teach what gets customers
12-year relationship with
the Weinsteins in a deal that
will see Disney keep the
Miramax name and library
while the Weinsteins leave
to form their own company.
On Sunday, Harvey
Weinstein praised Iger’s
choice, though it will not
change the outcome of the
talks. “I’ve had a great
working relationship with
Bob Iger and think he’s a
terrific choice,” Weinstein
said.
Iger’s people skills will be
tested when it comes to dis
sident shareholders Roy
Disney and Gold. The two
criticized Disney’s board
Sunday and hinted they
might lead another share
holder revolt.
“We find it incomprehen
sible that the board of direc
tors of Disney failed to find
a single external candidate
interested in the job and
thus handed Bob Iger the
job by default,” the two men
said in a statement. “The
need for the Walt Disney
Company to have a clean
break from the prior regime
and to change the leadership
culture has been glaringly
obvious to everyone except
this board.”
But Disney board chair
man George Mitchell said
Iger’s choice came after a
“lengthy, thorough and pro
fessional selection process”
that included serious consid
eration of outside candi
dates.
of LASEK in numerous
states. These qualifications
are why Gayton was chosen
to take part in an extensive
debate with fellow ophthal
mologist. Dr. Doug Koch,
while in Park City. The two
doctors debated the merits
of LASEK versus LASIK.
Gayton also presented a
video taped at Eyesight
Associates demonstrating
the ease and efficiency of
setting up the Infiniti
Cataract Removal System.
Eyesight Associates placed
the first order in the world
for this groundbreaking
technology. Since obtaining
the Infiniti System in
August 2003, Dr. Gayton
has used this new technolo
gy to safely remove almost
2,000 cataracts. He lectured
on the Infiniti’s many
attributes, which make
cataract surgery safer and
more efficient than before.
Eyesight Associates is
located at 216 Corder Road
in Warner Robins, with
branch offices in Fort Valley,
Cordele and Fitzgerald.
GAYTON
Peppard honored by GOP
Business
Council,
Republican
Committee,
has named
Dr. Annette
R. Peppard,
owner and
pperator of
Hearing
Associates
Inc., 109
Osig i a n
Blvd. Suite
400, Warner
Robins, as
the Business Woman of the
Year 2005. Peppard was the
award winner for the state
of Georgia.
in the door, how to make the
sale, and how to keep them
coming back. The class will
be from 6 until 8 p.m. at the
Georgia Music Hall of Fame.
Prepaid registration is
required; cost is S4O. (478)
751-6592.
Advisory
National
Congressional
-
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PEPPARD
An Important
NOTICE
For RETIRED INVESTORS WHO OWN
VARIABLE ANNUITIES
• If your annunity has lost substantial value
•If one annunity was switched for another
•If a variable annunity is more than 10% of your portfolio
A \ JONAP & ASSOCIATES, P. C.
Ud Ud ATTORNEYS AT LAW
-800-741-7500
Reflection - coaching
after an event
Last week, I offered sug
gestions for how a boss
might provide coaching to
a colleague or direct
report before the individ
ual takes some specific
action. If you would like a
copy of that column,
please send an e-mail or
call me at (478) 988-0237.
Today I offer thoughts
about how to coach some
one reflecting on a past
action, considering how a
similar situation might be
handled differently in the
future. This after-the-fact
evaluation process is help
ful for individuals who are
learning new or complex
procedures. Even experi
enced individuals benefit
trom collaborative reflec
tion, improving their
technique or seeking ways
to enhance results.
We attack problems that
can’t be ignored. But it’s
usually easier to let things
that are OK just continue
as they are rather than
think about how to
improve them. John
Maxwell, in his book
“Thinking for a Change,”
says, “Most people would
rather act than think.” It
is tempting to join the ral
lying cry of those who pre
fer the status quo: “If it
ain’t broke, don’t fix it!”
But what if you, as a
leader in your organiza
tion, want to establish a
higher standard of service
to your internal and
external customers? How
can you productively
encourage individuals
under your authority t 6
subject themselves to
reflective thinking about
their recent performance?
Establish the envi
ronment. Does the cul
ture of your organization
encourage feedback and a
mentality of continuous
improvement? Have you
built a trusting relation
ship with those who look
to you for leadership? Do
you subject yourself to the
same collaborative after
the-fact scrutiny that you
expect of those under your
direction? Have your past
behaviors shown that you
desire to mentor individu
als toward greater suc
cess?
Assuring receptivity.
No one likes unsolicited
advice, so make sure the
individual welcomes your
coaching. Is there
“demand pull” for your
evaluation in this situa
tion? Does the person
respect your competence
in this particular subject
matter? If the individual
did not initiate the
request for your help,
allow enough time for him
or her to become comfort
able with the idea of your
Assessing Your
Leadership Skills
-SBS/person
j\' ‘
Dennis Hooper
. . even greater things .
dhooper2@juno.com
assessing what happened.
Test to ensure that the
individual will be truly
open to your exploration.
Exploring together.
Let the individual share
observations first.
Imagine together what
the outcome might have
been had a different
approach been taken. At
some point after the indi
vidual’s initial energy
wanes, join in so that both
of you are offering obser
vations. Acknowledge and
credit that which went
well. Consider options
that might be tried next
time and evaluate the
advantages and disadvan
tages of each.
Remember that this is a
learning opportunity, led
by the individual. Do not
allow yourself to become a
corrective parental
authority leading a cri
tique session. The individ
ual is “trying on” poten
tially different behaviors,
and considering some
thing new is often uncom
fortable at first. Despite
any pressure you might
apply, the individual will
only execute well next
time the behaviors he or
she can comfortably imag
ine.
Look to the future.
Close by inviting the indi
vidual to summarize
insights, describing the
most desirable action to
pursue next time. Offer to
role-play that behavior if
he or she feels that some
practice would be valu
able. Make it legitimate
for the individual to come
back for more role-plays
just before the next simi
lar opportunity actually
presents itself.
Reflecting with your
colleagues and direct
reports on past events lets
you learn what worked
well and consider options
for what might work bet
ter. When possible, share
what your learned with
others in the organiza
tion. Thank individuals
for their commitment to
improve their operations.
F. Dennis Hooner
Certified
Leadership Development Coach
Building leaders and
organizations of excellence
(478) 988-0237 dhooper2@juno.com
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