Volume 18, Number 6, March 18, 2019
MLA Lumber Industry News Express
Here's the new issue of the Mid-America Lumbermens Association online newsletter. We'll send another issue every two weeks to let you know what's happening in the industry, at your MLA, and in the world that affects your business. We welcome your opinions and ideas. If you have information you'd like to share with other members, we'd be happy to include it in our next issue. We welcome both personal and industry-related news - members would love to hear your news and views - so don't hesitate to email us with information.
Swing-into-Spring Event is Just Around the Corner!

The annual Swing-into-Spring Event is less than two months away, so it’s time to sign up and make plans to attend!

Suppliers must sponsor to participate. Click here for a sponsorship form .

For complete information about the event, which includes fishing, bowling and golf, along with a great network building event on Thursday, May 2 – the very popular Steak and Chop Fry, go to the MLA website .

Invite friends and customers! Everyone is welcome at this fun event that raises funding for the Missouri Scholarship Fund!
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MLA Scholarship Applications - Deadline Extended until Today!

The MLA scholarship program continues to be one of the most valued benefits enjoyed by members, their employees, and their children. If you know a deserving high school senior you would like to recommend for a scholarship – either a relative, an employee’s child or someone working in your lumberyard, please take a look at the MLA website and have them apply. The deadline for application is March 18, 2019. Click here for more information .

Register Today!
Protect Your Profits When Big Customers Pay Late

If your large prospect pays everyone else slowly, how will they pay you? You got it. They’ll pay you slowly, too. Knowing this, factor it into your pricing upfront. Let’s use an example:

Say your average customer spends $100 and nets $25 in gross profit, or 25 percent. When you factor in warehouse, delivery, sales, administrative and financing expense, the net profit of the average customer is 4 percent.  Read more .

Source: Scott Simpson, BlueTarp
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Tips on How to Save Smart for Retirement

Consider these retirement saving tips from the government’s Retirement Savings Education Campaign :

  • Start now. Don’t wait. Time is critical.
  • Start small, if necessary. Money may be tight, but even small amounts can make a big difference given enough time, the right kind of investments and tax-favored vehicles such as company retirement plans, IRAs, and SEPs.
  • Use automatic deductions from your payroll or your checking account for deposit in mutual funds, IRAs, or other investment vehicles.
  • Save regularly. Make saving for retirement a habit.
  • Be realistic about investment returns. Never assume that a year or two of high market returns will continue indefinitely. The same goes for market declines.
  • If you change jobs, keep your retirement account money in your former employer's plan or roll it over into your new employer's plan or an IRA.
  • Don’t dip into retirement savings.

The Mid-America Lumbermens Association 401(K) plan may be just the tool you need to get all the advantages of a complete retirement savings plan with a well-diversified portfolio of investment options.

By leveraging the combined buying power of all MLA members, the MLA 401(K) plan provides each adopting employer with its own customizable retirement savings plan at a reduced cost, with the added benefits of a no-hassle plan installation, offloading of fiduciary liabilities, and limited administrative responsibility.

If your business has only a few employees, you may think you’re too small or it’s too expensive to offer a complete 401(K) retirement savings plan. Not so! Companies with as few as two employees can participate in the MLA 401(k) retirement savings plan. Click here for more information or just contact Bill Male at Tax Favored Benefits: 913-648-5526 or billm@tfbusa.com . It costs nothing to ask questions.

Bill Male is a Registered Representative and Investment Advisor Representative offering securities and investment advisory services solely through Ameritas Investment Corp. (AIC). Member FINRA/SIPC, a registered broker/dealer and registered investment advisor. AIC and Tax Favored Benefits, Inc. are not affiliated. Additional products and services may be available through Bill Male or Tax Favored Benefits that are not offered through AIC. Representatives of AIC do not provide tax or legal advice. Please consult your tax advisor or attorney regarding your ci rcumstances.
Truckload Shipping: Is it Right for Your Business?

When it comes to freight shipping, you have to start with the basics. The differences between full truckload transportation and LTL (Less-Than-Truckload) moves can be confusing for both new and seasoned shippers. Even if you are familiar with this freight option, how do you know if you are using the service to its full advantage? Truckload is a budget-friendly option for any business that is shipping high volume, regular loads. But it’s also a service that adds security and timeliness when you need it. Learn more about the key differences in freight shipping options and which service is right for your business. Have a shipment that’s ready to go? Get a quote from the truckload experts at PartnerShip.

This tip is brought to you by PartnerShip®, the company that manages the MLA Shipping Program. For more information or to enroll, email sales@PartnerShip.com or call 800-599-2902.
Lumber News

Take Action! Ask Your Congressman to Cosponsor and Approve the Health Insurance Tax Relief Act… NLBMDA urges its members to take action by   contacting their Representative and Senators   and asking them to cosponsor and approve the Health Insurance Tax Relief Act (H.R. 1398, S. 172). The legislation delays the Health Insurance Tax (HIT) on fully insured health care plans for 2020 and 2021. Click here   to read the complete legislative alert.
Source: NLBMDA, March 12, 2019

Lowes Makes Its Case to Pros... Lowe’s Home Improvement is looking to expand its pro customer base and will make a serious pitch to professionals next week. The Mooresville, N.C.-based company is hosting a week-long Pro Event, March 18-March 22, aimed at its existing pro customers along with potential new customers. Lowe’s will host the event at all stores across the United States. Read more .
Source: HBS Dealer, March 14, 2019

Some Builders are Exiting Off Their Customary Route. You're in Danger of Getting Bypassed... Travels to a half-dozen industry events in recent weeks have left me concluding there won’t be any single path that home builders will take to the future. Instead, I see two new routes developing that will run parallel to the existing track. All three offer their own potentially scary implications for dealers. Read more .
Source: Webb Analytics, March 14, 2019
Marijuana in the Workplace: Free Webinar
This service provided courtesy of Federated Mutual Insurance Company, your association’s recommended insurer.
Employee Training that's Just Right, Just Enough and Just in Time

The MLA Online Campus provides you and your employees with high-impact, "real-world" training that develops your leaders, retains your best people and increases your customer loyalty. Each employee has a unique username to access the campus, which houses more than 1,000 courses on customer service, sales, leadership and more. Want to try a program for yourself? Click here to view an example. If you like what you see, contact us for a one-week trial subscription to see the hundreds of available courses. Learn more
The Last Word
Mid-America Lumbermens Association | 800-747-6529 | 816-561-1249 (fax)| oholcombe@TheMLA.com | Website