Penning Named 2011 FIVE STAR Wealth Advisor by HOUR Detroit Magazine

We are pleased to announce that for the second consecutive year, Dan A. Penning was named a FIVE STAR wealth advisor for 2011 by HOUR Detroit Magazine. The magazine contracted an independent market research company to administer a research process to identify a select group of wealth managers who were exceptional in both their ability and commitment to overall client satisfaction.
More than 102,500 high net worth individuals and 4,200 financial services professionals were asked to evaluate wealth managers including financial planners, investment advisors, estate attorneys and accountants in the Detroit community. The final list was reviewed by a blue ribbon panel of financial services industry professionals. Less than 7% of the wealth managers in the Detroit area, including attorneys, accountants, and financial advisors, were selected.

Streamlining Departments in Lansing May Help Michigan Businesses

Department of Licensing and Regulatory Affairs Formed
The formation of the Department of Licensing and Regulatory Affairs (LARA) is the latest effort of Governor Snyder to create a smaller, yet more centralized Michigan state government. It is not simply a name change, but a reorganization of the Department of Energy, Labor, and Economic Growth, and other state departments, which has the potential to make it a little easier for businesses to function and stay in compliance with state laws and regulations.

Improving focus
At a Lansing press conference earlier this year, the governor said that the Department Energy, Labor and Economic Growth has “been kind of a collection basket for a lot of things” and that the reorganization he has ordered will improve its focus, presumably to help Michigan businesses.

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The Penning Group Sponsors Leelanau Peninsula Chamber of Commerce 1st Business Forum

In Leelanau County The Penning Group will Sponsor 1st Business Forum of Industry Experts to Discuss Issues Relevant to Small Business Owners

The Leelanau Peninsula Chamber of Commerce will launch the 1st Annual Leelanau Peninsula Business Forum on Wednesday, April 13, 2011 from 7:00 am – 9:00 am at the Leelanau Sands Showroom.

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Requirements to Protect Personal Information

Like many business professionals, your laptop and cell phone have become a corporate archive of important and confidential business information about your company. Smart phones have allowed sensitive data to be available at your fingertips that can be carried most anywhere. Identity thieves can have an easy time of accessing data that is legally protected if you don’t address security issues in your overall Information Technology plan. Many businesses find it more cost-effective to secure the information they have rather than try to repair the damage and rebuild consumer confidence after a data loss or breach. Moreover, federal and state laws require companies to implement reasonable information security practices. Depending on your business and the type of information you keep, these laws may apply to you.

A single basic standard for data security
The Federal Trade Commission has tried to develop a single basic standard for data security that strikes the balance between providing concrete guidance, and allowing flexibility for different businesses’ needs. The standard is straightforward: Companies must maintain reasonable procedures to protect sensitive information. Whether your security practices are reasonable will depend on the nature and size of your business, the types of information you have, the security tools available to you based on your resources, and the risks you are likely to face.

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TAX ALERT – Michigan Governor Snyder Releases 2011 Executive Budget Proposal

Budget Proposal Includes Anticipated Proposals to Change Both Tax and Spending Policies

Michigan Governor Rick Snyder called the consideration of his proposed Executive Budget a “defining moment” for the state this week as the Executive Budget was submitted to state legislators for the 2011-2012 fiscal year. Snyder commented on his budget as an opportunity to “stop living in the past and start looking to the future.”

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