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Show DAILY HERALD E6 Identities Continued from E6 resolving their identity theft cases by helping them document, organize and report their information in a way that law enforcement, banks and other agencies can use to take immediate action. The Federal Trade Commission, in a 2003 survey, found it takes the average victim more than 175 hours to resolve the problem. The software also provides tools including an encrypted . personal account registry where consumers can store their personal data. It also generates the letters and forms ' such as the FTC affidavit, letters to financial institutions and other agencies that are compliant with the Fair and Accurate Credit Transaction Act. Most of its CasePlanners, retailing at $49 each, are now marketed to consumers through nonprofit centers and trade seminars. "We've just secured an agreement for a limited use grant with a private individual, which allows us to sell the software for just $ 15 for as long as the grant lasts," Barnett said. But Barnett is also in talks with multi-levmarketing companies and banks to distribute his products. In 2005, the company also plans to add 25 sales agents to market corporate versions of its software, which can be customized for businesses, financial institutions and law enforcement agencies. "We've received a great deal of interest from police departments nationwide at a trade show in Los Angeles, but we have to figure out how to break through their budgeting process," Barnett said. "But given the amount of time saved in conducting investigations, there's quick payback on the systems." The FTC found 27.3 million P 3? JEREMY The anti-frau- d Americans have been victims of identity theft in the past five years, including 9.9 million in 2002 alone. Identity theft losses to businesses and financial institutions totaled nearly $48 billion in 2003, and consumer victims reported $5 billion in expenses, the FTC found. And financial damages caused by identity theft aren't only mounting, but exploding at a growth rate of 300 percent annually, and could reach $2 trillion by the end of 2005, according to Aberdeen Group, a laden with foreign accents and money to spend. It's a welcome cash infusion for an industry whose largest companies lost millions following the Sept. 11, 2001, terror attacks and the Iraq war. According to the Travel Industry Association of America, international arrivals are expected Europeans Continued from El steadily on worries over U.S. trade and budget deficits. In the process, U.S. ski areas say they're benefiting. Resorts throughout the Rockies are expecting an uptick in visitors Executive mm THE UNIVERSITY of UTAH us to team how to receive your MBA from the program ranked 36 in the U.S. Join London Based Financial Times Designed for executives who want to master today's complex business environment experience Class meets one day a week, alternating FridaySaturday waived Internationally in select cases accredited by AACSB January 6, 2005 5:30 February 3, 2005 5:30 pm C. Roland Christensen Center U of U Campus RSVP to embautah.edu or pm ft 110 Josie Ribeiro, Class of 2006 Discover Financial Services DAVID KCCLKS SCHOOL OF BUSINESS Boston-base- d industry analyst firm. "ID theft is one of the few crimes where you're guilty until proven innocent," Barnett said. "But mine is a minor story. I've seen many cases of victims arrested and being sent to jail for crimes they didn't commit. Not to mention the time taken away from work and the expense of restoring your shattered credit rating." Today, Barnett is out of bankruptcy, but it took him more than two years and thousands to rise 7.5 percent in 2004 and another 5 percent next year, due in part to European bargain hunters. To keep up the momentum, American ski resorts have focused their marketing on these international guests. Officials at resorts from Breckenridge, Colo., to Lake Tahoe, Calif., say they're boosting the amount of money they spend to lure skiers from abroad. And Killington in Vermont says it courts foreigners by participating in one of the, world's conventions in largest London. The reason: Even though foreign skiers account for less than a tenth of all lift tickets sold in the United States, foreigners often stay longer than their American counterparts up to 10 days and leave plenty of dollars at hotels, shops and malls while they're here. "They typically spend just as much, if not more per day, as a U.S. destination skier," said Kel ly Ladyga, a spokeswoman for Colorado-baseVail Resorts, which expects a second year of growth in international visitors that exceeds 10 percent. That doesn't mean all of North America is pleased with the currency development. In 2003, international visits to ski resorts in Canada fell nearly a third as the Canadian dollar rose 20 percent against the U.S. standard. It rose another 7.5 percent in 2004. Intrawest, the owner of British Columbia's Whistler Mountain, has blamed sluggish visits on the currency. "Our Canadian resorts saw a decline in U.S. visitors, driven by the rise of the Canadian dollar and the recent trend of Americans to stay at home," Intrawest President Joe Houssian told investors recently. Advance air bookings to ski-trav- d program for professionals with 6 years of work GMAT HARMONDaily Herald software developed by Global Fraud Solutions. YOU ONLY GET ONE r I il (VjV J X Traditional MBA e Designed for career in business. full-tim- I business students ready to expand their Hands-on- , entrepreneurial focus Competitive salary upon graduation Professional MBA Designed for working professionals who desire to take their career to the next level. evening program with personalized electives Elite technical support & facilities For more information: www.mba.utah.edu or call , (8622) n Learn More at Our Information Sessions DAVID ECCLES SCHOOL OF BUSINESS lie I"mttraly of Vlab pm I David Eccles School Tuesday, January 4, 5:30-7:0- 0 of Business I University of Utah campus Tuesday, January 11, 5:30-7:0- 0 pm I ex- - ? of dollars in penses to restore his credit rating a process hampered by a lack of consumer protection laws at that time for identity theft victims. That situation, however, is changing, with the passage of laws like the Fair and Accurate Credit Transaction Act, and the Identity Theft and Assumption Deterrence Act, which was passed in October 1998. That legislation makes identity theft a federal crime with penalties of up to 15 years imprisonment and a maximum fine of $250,000. Barnett, a former law enforcement officer with the Quincy Police Department in Washington, said he found it challenging as an officer investigating identity theft cases because of an insufficient allocation of resources and a lack of partnership among law enforcement agencies in sharing information. "Identity theft isn't a violent crime, so it doesn't get a lot of priority in many areas," he said. Utah ranks 22nd among states in per capita identity crimes. In addition to heightening awareness of the identity theft problem, the industry should also focus on discussing solutions, said Todd Eldredge, Global Fraud's senior vice president of sales and marketing. "Although there are many Web sites which can help consumers understand the process of documenting and reporting their case, it is still the victim's responsibility to discover how that information should be re- ported, to document their case for each organization they are working with, and then follow up with each of those organizations until the case has been closed," he said. But CasePlanner significantly reduces the learning curve so consumers can focus on getting resolution, Barnett said. "It's all about giving peace of mind to those involved with the case." . Jackson, Wyo., are up 18 percent over last year, said Anna Olsen, a spokeswoman for the -resort where up to 12 percent of skiers come from outside the United States. Even in Idaho, where the relative isolation of ski areas such as Sun Valley makes them hard to reach for European visitors, tourism officials say there is anecdotal evidence of greater attention. "Typically we have interest from European journalists," said Ellen Gillespie, a spokeswoman for the central Idaho resort, where 4 percent of guests come from abroad. "But now we're getting calls from tour operators who are putting people on planes." Killington Resort, the largest in the East, has seen a 10 percent to 12 percent rise in reservations for the winter, mostly from Britons. More skiers from Canada's southeast are also trying out American snow. "As the Canadian dollar moves closer to ours, we're seeing an increase in interest among Canadians," said David Dillon, president of the Vermont Ski Areas Association. It couldn't come at a better time for American ski areas.' Two of the biggest, American Skiing Co. and Vail Resorts, have lost $ 125 million combined in two years and are trying to lure skiers from just about anywhere to pad their finances. Skier visits in the United States over last 25 years have stagnated, rising on average less than a percent a year. "We've seen some uptick in our international travel," said Chip Kerry, head of marketing and sales at American Skiing, where international skiers account for approximately 7 percent of visits to resorts including Steamboat in Colorado and The Canyons near Park City, Utah. "Our biggest countries are the U.K. and Germany." Antje Guenther, a Frankfurt-base- d r, spokeswoman for one of Germany's largest travel companies, said North American business is up nearly 19 percent for 2004, including skiers taking package vacaDer-tou- MBA Find out how to get it from one of the top 50 The Wall Street journal schools in the U.S. Sunday, January 2, 2005 Hampton Inn, Orem tions. And since European travelers often book vacations with travel companies up to 18 months in advance, Guenther said in an interview, the rise could extend well beyond next year. So far, European countries with vaunted ski industries such as Austria and Switzerland insist they aren't seeing an exodus of tourists. Even with the collapse of the U.S. dollar, Austria's tourism ministry reports a 13 percent increase in American visitors in 2004, compared to a year earlier. And the number of American vacationers in Switzerland, whose franc has also risen to a record, is expected to increase up to 10 percent this year, national tourist board Swiss Tourism said. "The people who are coming this winter booked long before the American dollar sunk so low," said Sylvia Devito, a spokeswoman in Zurich. A Finding the silver lining in your cloud omeone once said that an optimist stays up until 'midnight to see in the new year; a pessimist stays up until midnight to make sure the old year leaves. The new year is a terrific time for a fresh start, particularly in the attitude department. If your outlook on life is down more than up, take advantage of the new calendar and change your perspective. Being the optimist that I am, I found some great inspiration in the book "It's Your Move: Dealing Yourself the Best Cards in Life and Work" by Cyndi Maxey and Jill Bremer (Financial Times Prentice Hall, 2003). They acknowledge that everyone faces adversity and difficult times. The challenge is to remember that the situation is usually only temporary. They encourage readers to find their way to the silver lining the place where you can feel hopeful again. To do that, they say you must look at your situation realistically and then make adI Harvey Mackay Positive Struggles plored, the silver lining that offsets the clouds described above. You, and only you, can decide how you will treat others in your life and your behavior can serve as a sterling example of kindness and respect. If you make a habit of leaving work late every night, consider this: the boss may be impressed for a while, but will your family? Remember, finding balance in your life keeps you from getting burned out. How you spend your of f time is part of that equation. Finding fulfillment away from work keeps you sharp and inspired. Talking to yourself about yourself is really very normal, as long as you give yourself credit for the things you do well and encouragement for the things you hope to do better. Take care of your physical self to augment your mental health. You also control how much and when you should share what's on your mind doing so in a positive way is essential to good communication. You also have a responsibility to yourself to say when enough is enough, and stick to your guns. Ever heard the saying about how "you're only as old as you feel?' Birthdays are occasions for celebrations and presents and cake, not excuses for what you can't do anymore. If you're looking at the green side of the grass, you should also be able to see the silver linings in the clouds. Take your cue from Orison Swett Marden, founder of Success Magazine and a motivational writer from the early 1900s: "The golden opportunity you are seeking Is in yourself. It is not in your environment; it is not in luck or in chance, or the help of others; it is in yourself alone." justments. Start with the things you can't control: traffic; hours in the day; your bad eyesight; your age; another's whims; someone else's the number of vacation days your company offers; spilled milk after you've cleaned; and death and taxes. You can probably relate to many, if not most of the items on this list. Traffic won't change just because you swear at the drivers around you. You get 24 hours every day, just like everyone else. Your eyesightarthritisheart condition may be improved as medical advances occur, but you still have to learn to live with it as best you can. The day you were Controlborn is ling another's behavior, whethis er whim or hardly ever your prerogative. Your company tells you how much time off you will receive when you sign on. Messes happen. We will all die, and the IRS will find us eventually. Deal with it. Those are the facts of Bfe. I don't expect them to change much in my lifetime. But then, in the clouds, is the silver lining. Consider what you can control: Your treatment of others. I How often you praise others. I The time you leave work. The way you spend your evening (or off hours). I What you say about yourself to yourself. I How often you exercise. When and hew to share your feelings. I How to let others know . you're stressed. I How old you act. What a list! These are opportunities waiting to be ex- follow-throug- follow-throug- Mackas Moral: Invest in precious metal: silver linings and golden opportunities. I Harvey Mackay is author of the New York Times best seller "Pushing the Envelope. " Contact him through www. mackay.com; or Mackay Envelope Corp., 2100 Elm St., Minneapolis, MN 55414. New year countant look over your first entries to be sure you've got your books set up right, said Mark Toolan, a certified public accountant with Toolan & Co. Continued from El "Set the framework for the entire year," said Mary Massad, director of human resources product development for Administaff, a Houston-base- d human resources firm. That way, you'll "avoid a situation where you have no plan, and individuals are left feeling very bad." Massad said in addition to formulating rules for time off, owners should ask themselves, what kind of coverage or backup they'll need when staffers go on vacation. Will fellow staffers be called on to pitch in, or do you plan to bring in help? Again, eliminating any unpleasant surprises by spelling out your plans now will make life easier for everyone. While you're thinking about these policies, you might want to be sure that other human resources issues are covered. Massad said the beginning of the year is a good time to put together an employee handbook, which spells out policies on hiring, firing, Internet use, lateness, even discipline procedures. Theije are many financial aspects of your business that should be looked at early in the year. One of the most basic has to do with your bookkeeping and ledger system. If you're not computerized, this is the time to do it, and if you're already keeping electronic books but want to change your software, now is also the time. Doug Stives, a CPA and partner with The Curchin Group in Red Bank, N.J., noted that business owners don't need to invest in a lot of expensive software to computerize their bookkeeping. "If your business is relatively simple, an Excel spreadsheet works just fine," he said. But you should have an ac Exton, Pa.. "It's far easier to correct one month's worth of data rather than 11 months of data," he said. A related issue is putting together a budget. Accountants warn that business owners who don't plan ahead or who don't know where they stand in terms of cash flow are courting disaster. "Some people are growing " Toolan said. "They need to be doing some budgeting you don't want things to be getting out of hand." Toolan also suggested business owners take steps now to get lines of credit for capital willy-nilly,- spending if they1 don't have one, even if they don't plan to use it for a while. "Don't wait until you actually need it," he said. You also might want to think about making your life easier by doing tax filings and other transactions online. Stives said of handling payroll taxes electronically, "It's easy. I have yet to have a problem with it." Accountants also suggest ' that owners take the time now to look at their benefits, par- -' ticularly health care and retirement plans. You might want to consider switching your health care plan to one that will be less draining. It's not mandatory to set up a retirement plan early in the year, but doing so means you and your employees are likely to have better returns. Toolan noted that you don't have to assume the expense and complexities of a 40 l(k) you can also provide for yourself and your employees with a Simplified Employee Pension, or SEP, or a Savings Incentive Match Plan for Employees, or SIMPLE. A tax professional can help you decide which plan would be best for you. |