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Investment Recovery Association
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IR Editorials
Catch up on some of the educational articles appearing in the Investment Recovery Business Journal, ASSET 2.0.
"The Life Cycle of Roman Pottery"
In his book, Roman Pottery in the Archaeological Record, J. Theodore Peña, Ph.D., examines the “life cycle” of Roman pottery and how the Romans used, reused, and repaired their containers. It is organized around a flow model for the lifecycle of Roman pottery that includes a set of eight distinct practices: manufacture, distribution, prime use, reuse, maintenance, recycling, discard, and reclamation. (read more)
"Feature Story: Vikings Recycling"
Today’s investment recovery professionals can now conceivably lay claim to a rich, brawny heritage, if a 2009 Viking discovery is any indication. The Vikings, those macho, marauding bad boys of early medieval Europe, apparently had an eye for recycling. (read more)
"President's Message: Investment Recovery Handbook On Its Way!"
I’ve been talking for a couple of years about the changes the association has been making to improve our already-strong educational pillar. Thankfully, with the help of many volunteers, my talk is about to be backed-up with words. 360 pages of words (and charts) actually! (read more)
"Slightly Upbeat Economy for 2012"
The U.S. and Canadian economies will grow slightly faster in 2012—if not knocked off track by upheavals in Europe, according to an Associated Press survey of leading economists and the Royal Bank of Canada. 2011 ended on somewhat of an upswing; the U.S. generated at least 100,000 new jobs for five months in a row—the longest such streak since 2006. (read more)
"Feature Story: Salvaging Cars, Shops and Trash"
While Henry Ford's assembly lines were becoming famous, by far the most dramatic post-consumer recycling activity at the gigantic Rouge facility near Detroit, were Ford's disassembly lines designed to take apart junked automobiles. Ford ran the program intermittently between 1930 and World War II. (read more)
"From the Archives - 1980 - Investment Recovery: An Emerging Management Strategy"
Looking back over 16 years of investment recovery, there are achievements that provide a perspective of the benefits that result from an organized, continuous Investment Recovery effort. Five such achievements have emerged as most significant at Union Carbide. (read more)
"President's Message: Happy Holidays!"
What a wonderful time of the year. There are parties with friends and family gatherings where even "weird Uncle Frank" can almost seem normal. The heat of the summer is past and some parts of the country are even enjoying a classic symbol of winter-snow! This is the time to finalize the year that is passing, and to look forward with anticipation. (read more)
"Investment Recovery in the Stone Age"
Neanderthals have gotten a bad rap. An incorrect analysis of a skeleton excavated in 1908 provided a mistaken view that was universally accepted by paleoanthropologists for decades: that Neanderthals were dull-witted, ape-like creatures. This cavemen image still persists, yet it is in stark contrast to the more recent archaeological record. (read more)
"What's Happenin': Dallas Tapped for next Lunch N Learn in Dallas, Texas"
August 25th, the Duke Energy Auditorium in downtown Cincinnati hosted more than 40 regional association members and prospects interested in networking and learning more about the IR profession. (read more)
"From the Archives - 1980 - Investment Recovery: An Emerging Management Strategy"
Abstract: Investment Recovery is the management of the reuse and disposal of the surplus materials, equipment and product which are generated by an enterprise in the pursuance of its primary business(es). Such management involved many of the techniques for evaluation and decision making used by practitioners of Operations Research and Management Science. (read more)
"President's Message: The Long-Awaited Study Guide is Almost Complete"
I have some exciting news for you. The much-anticipated rework of the Certified Manager of Investment Recovery Study Guide is nearing completion! That's right-after years of planning and hard work, this completely new, in-depth view of the most important topics for our industry is working its way through the final stages of completion. Titled the Investment Recovery Handbook, Adding Value to the Supply Chain, the final draft has been submitted to a technical proofreader... (read more)
"Philosophy & Vision of Investment Recovery"
Physics teaches us the physical law that “matter can neither be created nor destroyed, but can only change form,” which I believe should constitute the philosophical high ground of the business of Investment Recovery. (read more)
"Defining Your IR Character to Improve the Customer Relationship"
Are you tired of failing to meet your internal and external customer’s expectations? Are you being pulled a dozen different directions at once? Is your boss getting phone calls from your internal customers complaining that you are not providing them with the services they assume is your responsibility? Well join the club! A large percentage of Investment Recovery Departments today have downsized and are still expected to deliver the goods. (read more)
"Member News"
Three Earn CMIR Status Paul Hoffman, CMIR, El Paso Corportion; Bob Krysa, CMIR, Ontario Lottery and Gaming Corporation; and Kristina Waters, CMIR, Cox Communications have all completed their requirements and passed the exams necessary to become Certified Managers of Investment Recovery. Congratulations! For those wanting to take CMIR exam(s), there will be an opportunity to do so following the Cincinnati Lunch & Learn. (read more)
"What's Happenin' Attend the IR Lunch & Learn Cincinatti August 25th"
The Duke Energy Auditorium in downtown Cincinnati will be the site for an informative and interactive Investment Recovery Lunch & Learn August 25th. Dave Rupert, CMIR, President of the Investment Recovery Association, will reveal results just released from the association’s Benchmark Study. David will be joined by Chris Robinson, CMIR, Duke Energy, who will share his department’s best practices. (read more)
"Hubcaps As Canvas: Artists Turn Junk Into Jewels"
Upstairs in Ken Marquis’s art gallery and framing shop, you’ll find a strange, cloistered world populated by a toothy dog chomping on a Frisbee, an enigmatic mermaid reclining in a pool of oil in two rooms and a hallway with more than 800 works to date, dented old Pontiacs and Plymouths given new life and meaning by fertile minds and talented hands. (read more)
"Surplus Ships & Subways: Sustaining the Sea"
The decommissioned destroyer, the USS Arthur W. Radford, in service since 1977, was towed to its final deployment in the Atlantic Ocean August 10th. The ship is being sunk as part of an artificial reef that is a cooperative venture between Delaware, New Jersey and Maryland for enhancing fisheries habitat. (read more)
"Feature Story: May I Take Your Trash"
For a Guatemalan immigrant, yard sales were a bonanza—and an export opportunity. The first time I went for a walk around my father-in-law’s neighborhood it was garbage day, and I was shocked to see what people were throwing out. (read more)
"Get Rid of Practically Anything"
White elephants aren’t really white, nor is one person’s trash always another person’s treasure. But for an IR professional, it’s hard to overlook the rapid rise of eBay® and other online auction sites, popular TV shows such as the Antiques Road Show or the growing acceptance of recycling and sustainability efforts by consumers. (read more)
"President's Message: Our Board of Directors (Take 2)"
My messages seem to be taking a similar tone as of late, but I believe it is one of my duties to keep all of you informed on what is going on within the Board of Directors. Those who follow baseball know that the trade deadline has just passed, with many trades happening as teams try to bolster their roster for the pennant race. Though we didn’t trade anyone, this feels like a similar scenario. (read more)
"President's Message: Our Board of Directors"
Well, I’m pleased to tell you that the Board of Directors has nearly accomplished another goal for 2011. In my last article, I noted that we had added a few new directors who were elected at the annual conference in Scottsdale. We still had two unfilled terms on the Board, which had resulted from departures of directors prior to their terms ending. (read more)
Break It Down, a program aired on the National Geographic Channel, featured associate member firm, Brandenburg Industrial Service Company tackling one of its more unique projects, a building that was made to be virtually impenetrable—the Riverfront State Prison in Camden, New Jersey. (read more)
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" From talking with several IR practitioners, the execution of contracts is often left to others to complete (i.e., Legal or Procurement). Having a contract background, I can honestly say this is not uncommon in any business, as many departments go to either the legal or procurement groups for help with this sometimes complicated and time consuming activity.(read more)
When given the task of increasing by 10% the total tonnage of their company’s recyclable waste, Russ Wilkenloh and Chris Robinson, CMIR, of Duke Energy knew that utility poles and other wood waste had to be a part of the equation. But finding a means to make that happen was a significant challenge. (read more)
"What's Happenin' - Board of Director's Luncheon" The response to participate in the Board of Directors election was greater than ever, with 16 people standing for election to fill three vacancies. Michael Rhodes, CMIR, and Jessica Jackson, CMIR, were elected to fill Director positions. Ron Brooks, CMIR, was elected as one of the two Associate Directors. In their first meeting, the new Board elected as their officers: (read more)
"President's Message - WOW!" I'm at a loss for words after one of the most successful seminar and trade shows we've had in recent memory. Our March annual gathering in Scottsdale was well attended and well received. And in an effort to continue the momentum, we will meet again at the same beautiful resort in March of 2012. I also want to make mention of the incredible interest in serving on the Board of Directors evident at the annual meeting. (read more)
"Selling Surplus in Mexico " International commercial officers from the United States Commercial Service (CS) provided insight into the cultural and business situations that present unique opportunities for exporting surplus equipment to our southern neighbors in Mexico and Panama. (read more)
"Resposible Electronic Recycling: Selecting an eRecycling Vendor" Electronic waste continues to remain a growing concern for companies throughout the world. With as much as 80% of e-waste being exported to third world countries and e-waste being the largest single source of lead in solid waste landfills, it is imperative that we have appropriate measures in place when selecting an electronic recycling vendor. (read more)
"Forget Planning - I've Got It All Right Up Here" Imagine that there is a new legal pad on the market. It’s brand new and it just hit the store shelves. It has this amazing ability, at random times, to instantly bring back to your attention things that you forgot to do in the past. Pretty neat… but there are a couple of quirks. First, you can never predict when it’s going to work and when it’s not. (read more)
"What's Happenin' - IR Lunch & Learn - Los Angeles" On January 27th, the Investment Recovery Association welcomed prospects, members and associate members to the Los Angeles Lunch & Learn. (read more)
"President's Message" Recently, Bill Kimball, our exceptional Editor-in-Chief for Asset 2.0, sent me his usual cheery note about needing the next President’s Message for this edition of 2.0. In his note, he reminded me that this was the end of my second year of writing such messages. And, that got me to thinking about how many things we’ve accomplished in the last two years, and some particular items struck me. (read more)
"Henry Ford - The First IR Practitioner? (Part Three)" Take-back, waste reduction and recycling at the Rouge - Throughout the 1920s, Ford Motor Company’s River Rouge managers pioneered techniques of industrial recycling. Henry Ford, the richest man in the world, was obsessed with eliminating waste and finding as many ways as possible to use nature’s bounty. (read more)
"In the Same Boat - Out in Front: Leading People, Leading Organizations" Today’s military logistics successes were built on lessons from past conflicts. Many of these tenets apply to private-sector purchasing and supply management, as well. (read more)
"The Best Way to Use the Last 5 Minutes of Your Day" Julie, the head of a division of a retail company I work with, was at risk of getting fired. Here’s the crazy thing: she was a top performer. She had done more for the brand in the past year than any of her predecessors had in five years. The problem was that she was a bear to work with. (read more)
"Analyzing Effective Leaders - Why Extroverts are Not Always the Most Successful Bosses" Conventional wisdom tells us that leaders are the men and women who stand up, speak out, give orders, make plans and are generally the most dominant, outgoing people in a group. But that is not always the case, according to new research on leadership and group dynamics from Wharton management professor Adam Grant and two colleagues, who challenge the assumption that the most effective leaders are extroverts. (read more)
"Member Opinions About the Year(s) Ahead" In a recent online survey of members and associate members of the Investment Recovery Association, we asked what the economy’s potential impact might be on their IR activities, changes in travel and training budgets, likely attendance at the upcoming Scottsdale conference and more. Here’s what you had to say. (read more)
"Leadership - Why Everyone in an Enterprise Can and Should Be a Leader" Leadership doesn’t just start at the top. Leaders can also be found at the bottom of an organization and at just about every place in between. In this special report by Knowledge@Wharton and The McKinsey Quarterly, the management journal of consulting firm McKinsey & Co., experts from McKinsey and Wharton point out that regardless of whether people are on the top line or the front line, they should explore ways to exercise their leadership potential to the fullest. (read more)
"Member News: Cherry Wins World Demolition Award For Demolition & Environmental Recycling" Cherry, a Houston-based, familyoperated demolition and recycling company, was awarded top honors for its demolition and environmental recycling program held at the World Demolition Awards program in Amsterdam, The Netherlands. Cherry is an associate member of the Investment Recovery Association. (read more)
"5 Ways to Improve Your Refurbishment Operations" Decisions, decisions. What should you do with all the returned goods flowing back to your facility through the reverse logistics pipeline? Some companies dismantle them and recycle the parts. Others simply destroy the goods. But there’s a third option: repair, refurbish, and resell them. For some companies, that third route makes an awful lot of sense: If done correctly, repairs and refurbishment can be a moneymaker instead of a cost center. (read more)
"An Updated Assessment of Coper Wire Thefts From Electric Utilities" Electric utilities and scrap metal dealers make up a sizeable percentage of membership in the Investment Recovery Association. The theft of copper wire represents a significant expense for utilities and reputable scrap dealers are participating in efforts to reduce this problem. (read more)
"Sustainable Procurement Practices: Good for Business and Society" Company sustainability ratings are proliferating as the environmental, social, and governance agenda steadily migrates from the margins to the mainstream of capital, procurement, and consumer markets. This is one of many conclusions drawn by supply chain specialists speaking at the Business for Social Responsibility (BSR) Conference held in New York last month. (read more)
"Henry Ford: The First IR Practitioner? (Part 2)" Henry Ford himself abhorred waste of any kind and once remarked, “What we call waste is only surplus and surplus is only the starting point for new uses.” (read more)
"JD Power Predicts: 2011 Consumer Trends" Social media has been around for long enough and has penetrated enough of the marketplace that researchers are beginning to study the data streams in this format to determine its level of influence. J.D. Power and Associates just released its predicted consumer trends for 2011 based on data obtained through social media. According to J.D. Power and Associates, here’s what to look for next year and implications for the investment recovery professional. (read more)
"Member News: Lifespan Achieves R2/RIOS and ISO 14001:2004 Certifications"
Member company LifeSpan Technology Recycling has achieved R2/RIOS and ISO 14001:2004 certifications at all of its North American processing facilities, making it one of only four companies nationwide to achieve both of these rigorous designations. (read more)
"What's Happenin': Houston Lunch n' Learn in Philadelphia on November 18th, 2010"
The successful IR Lunch & Learn held earlier in Houston is coming to the Philadelphia/Northern New Jersey area November 18. From noon to 2 p.m., you’ll enjoy a hot buffet lunch seasoned with an appetizing couple of hours of investment recovery learning and networking. (read more)
"IR Improvement Starts with Stats" On June 23rd, more than 40 people were able to attend the association’s first ever IR Lunch n’ Learn, held at the Houston Marriott Westchase. Houston was selected because the area serves a large base of members and prospects. (read more)
"Henry Ford - The First IR Practitioner" Many of the ideas and practices of industrial ecology are not new. Nowhere was this more apparent than in the extensive waste reduction and recycling programs implemented by Henry Ford and the Ford Motor Company at the famous River Rouge complex during the 1920s and 1930s. (read more)
"President's Message: Taking Care of Business" If your fall season is starting like mine, you’re busy most weekends with college football and preparing your landscape for the winter. Those of you lucky enough to have beautiful weather year-round, well at least you’ve got football to keep you busy. In this edition of ASSET 2.0, I think you’ll find some very useful articles about forecasting and planning, and some spot-on articles about what to look for in IR vendors and how to evaluate outsourcing vendors. (read more)
"Outsourcing RFP's - Evaluating Contractors for Surplus Asset Management Outsourcing Contracts" More and more frequently, corporations are issuing requests for proposals (RFPs) to various types of service contractors for the performance of surplus asset management and disposition services. Increasingly, these RFPs are being issued by purchasing departments utilizing a process and methodology developed for the procurement of inventories and capital assets. (read more)
"The Business Side of IR" What members are saying about forecasting and planning, the economy, staffing and personal development, and the role of investment recovery in the years ahead. (read more)
"What's Happenin': Houston Lunch n' Learn Deemed a Success" On June 23rd, more than 40 people were able to attend the association’s first ever IR Lunch n’ Learn, held at the Houston Marriott Westchase. Houston was selected because the area serves a large base of members and prospects. (read more)
"K-25 Gets Radioactive!" Talk about hazardous materials! Radioactive technetium-99 (Tc-99) was introduced to the K-25 uranium-processing operations via “reactor returns” between 1953 and 1976. Isotopes of the material decay with a half-life of 211,000 years, even longer than the planning for most investment recovery and demolition projects! (read more)
"Choosing a Sustainability Champion" Regardless of your job responsibility—managing a portfolio of retail stores, dealing with multiple facilities on a college campus, or dealing with properties and distribution centers coast to coast, you’ve probably already undertaken environmentally friendly initiatives. But, the question is: Who’s leading these initiatives? (read more)
"Get Your PPE PDQ" As investment recovery professionals, we are continually in contact with our customers, frequently on-site reviewing material and equipment while formulating disposition plans in physical conditions that require personal protection equipment, or PPE. IR professionals literally wear many hats. We must be able to move in and out of a variety of environments, including office, highway, and vehicle traffic areas and job sites. Because of this, IR professionals have to maintain a unique awareness of their environment(s). (read more)
"Historic Manhattan Project Facilty Being Demolished" Demolition is well under way for one of the world’s largest buildings—constructed as a uranium enrichment facility as part of the supersecret Manhattan Project during World War II. It continued to serve that purpose throughout the Cold War. The massive, U-shaped, four-story building, code named “K-25”, measured a mile long by 1,000 feet. It took a little over 18 months to construct between mid- 1943 and early 1945 amid the race for the first atomic bomb. Six decades later... (read more)
"IR Safety: Situational Awareness" Many investment recovery professionals are responsible for disposing of old or obsolete buildings as well as equipment. Frequently these buildings have had no heat, no power, and no maintenance for months or even years. There are several important safety issues to consider when entering these buildings. (read more)
"Boneyards: Desert Home for Surplus Aircraft" Challenged for room in your laydown yard or other surplus storage areas? Imagine the space that the military and commercial airlines require to store their spare aircraft. A sprawling 2,600 acre site on the David-Monthan Air Force Base in Tucson is reputed to be the world’s largest military aircraft cemetery, housing over 4,400 aircraft. (read more)
"Is Purchasing Practicing What IR Preaches?" There seems to be one overriding issue that consistently impedes maximum asset recovery for industrial plants. There is significant disconnect between the investment recovery department and the purchasing department at many industrial plants. (read more)
"Export Opportunities for Surplus Equipment: A Surprising Partnership for US Companies"
American companies attempting to dispose of surplus equipment outside the U.S. have an opportunity to significantly broaden their market areas. In some cases, production equipment that is no longer viable in the domestic arena may actually have significantly greater value in a developing country than back here at home. However, standing in the way of greater marketing opportunity is a unique set of challenges. (read more)
"Debunking The 7 Myths of Used Equipment" The seemingly endless requirement for sustained profitability combined with heightened awareness of regulatory compliance and risk management, can make the divestment of surplus equipment a challenge. Maximizing reusable asset value, either through internal redeployment or external sale, is key for the investment recovery specialist. However, on the purchase side of the equation, there are many lingering concerns about the issues involved in locating, installing and utilizing surplus equipment. (read more)
"Roundtable Notes: What Are You Doing to Manage Your List?" Four companies came up with four different answers and software solutions for managing their lists of surplus assets. Kris Eigenbrood, CMIR, Sherry Detloff, CMIR, Ed Capovani and Donna Babcock discussed their unique approaches to keeping track of the surplus assets under their management. (read more)
"From Soup to Corporate Responsibility: Campbell's Efforts to Lead the Way"
Since 1869, Campbell Soup Company has transformed tomatoes, celery and carrots, among other ingredients, into mainstays of the American lifestyle. But as the culture wars in the U.S. have escalated, any company—even a seller of soup—can count on drawing fire from all sides of the political spectrum. When that firing starts, Dave Stangis, Campbell’s vice president of corporate social responsibility (CSR), will be standing at ground zero. (read more)
"Investment Recovery Best Practices: Still an Opportunity For Most Companies"
The Investment Recovery Association’s Benchmarking Committee has identified eleven Best Practices associated with successful investment recovery programs and operations. (read more)I
"Roundtable Notes: How We Do It" Recycling is one of the key facets of the investment recovery umbrella. It reduces dependency on mining raw materials and reduces landfill volumes and greenhouse gas emissions. It also sends a significant amount to the bottom line of corporate budgets. (read more)
"Member News: Utility Company Goes Radioactive" Communication among utility members is quite active. In some cases, even radioactive! Early in January, Jimmy Gray, Investment Recovery Senior Analyst for Georgia Power Company, posted a request on the Investment Recovery Association website for some help to see if any utility company members had any experience selling radiation contamination equipment. (read more)
"The 3 R's of Plant Closures" A plant closure is generally an extremely complex project and requires the assembly of a team dedicated to achieving project safety, environmental responsibility and maximum financial recovery. Because of the complexity of the process and many team members involved, a useful tool for the plant closure team is “The 3 ‘R’s’ of Plant Closures”, a document that clearly states the roles, responsibilities and relationships of each of the team members. (read more)I
"Best Practices for Safe, Cost- Effective and Environmentally Responsible Disposition"
A difficult economy, improved technologies and changes in environmental regulations are forcing the closure of outdated manufacturing plants and major process lines. Overall, the closure process can be roughly divided into three major categories: Human Relations, Public Relations and Technical Issues. (read more)
"The State of The Surplus Industry Report" President Obama has recently concluded his State of the Union address; most governors have done the same for their respective states. So with 2010 still fresh on the calendar, we felt it would be appropriate to see what the members and associate members think of the past and future of investment recovery and the surplus industry. Short answer? (read more)
"Corporate Recycling: A Green Economic Engine" When most think of scrap metal recycling, they picture a large automobile rolling slowly into a mega shredder. Others think of ‘recycling’ in terms of bins in the driveway or picture Sanford and Son loading up the truck and heading to the junkyard with the day’s catch of refrigerators, ladders,washing machines and any other items found along the way. (read more)
"Closed For Business: Scavenging Shuttered Chemical Plants Can be Profitable, But Not in This Economy" Every week, there seems to be another announcement about a chemical plant in the U.S. being shuttered. Many of the largest chemical companies, from Dow to DuPont to LyondellBasell, ceased production at several of their U.S. plants last year and laid off thousands of workers. Some of these plants, like DuPont’s Hypalon facility in Beaumont, Texas, which produced chlorosulfonated polyethylene (CSPE) elastomer, were the only one of their kind in the U.S. (read more)
"Recycle, Redeploy, Resell, Reuse" One clear advantage of an effective investment recovery program is its cost-benefit. Organizations that recycle, redeploy, resell and reuse their surplus or obsolete materials and equipment return millions of dollars to their corporate treasury every year. Over the past few years, the terms ‘sustainability’ and “green business practices” have continued to be hot topics. (read more)I
"How Professional Surplus Asset Management Increases Procurement ROI" Companies that control costs better than their competitors are well positioned to succeed in the marketplace. The professional management of surplus assets–referred to as investment recovery, or IR for short—can provide massive and surprisingly profitable returns, both in cost avoidance and in substantially higher revenue from the well-reasoned disposition of a company’s surplus assets. (read more)
"Industry Snapshot: Oil & Gas - Pipeline to IR Profits" As consumers, we rarely give much thought to the enormous infrastructure costs behind the comforts of modern society. That is certainly true as we drive into our local gas station or fill up our barbeque propane tank. (read more)
"The Logistics of Managing Plant and Equipment Relocation Projects" Relocating entire industrial plants or their large-scale components poses a major logistical challenge. The physical logistics involved with moving the equipment are certainly not the only issues to overcome. Here are some recommendations for investment recovery (IR) practitioners involved in projects of this kind. (read more)
"Don't Get Flagged - Creditor Companies Required to Have Identity Theft Plans" The Federal Trade Commission (FTC) has stated that it will begin enforcement of the “Red Flags” Rule, a federal law requiring creditors and financial institutions to develop written plans to prevent and detect identity theft. Members of the Investment Recovery Association that would likely be covered by this ruling would be utility companies, health care providers, telecommunications firms; essentially any organization that regularly extends credit to other businesses. (read more)
"Packing & Crating in a Post-9/11 World" Too big for a box! Obviously, crating and preparation for shipping involves a lot more than just securing some bubble wrap. Here, xx tons of process equipment are being prepared for overseas equipment. (read more)I
"LIFESPAN Receives Recycler of the Year Award" Associate member LifeSpan Technology Recycling was awarded “Recycler of the Year” for 2009 by WasteCap Nebraska. (read more)
"Retired Assets Include People, Too!" There’s an old saying about service companies - that their assets go down the elevator every night. Al Kidney, CMIR, recently took that downward elevator ride for the last time as an employee, retiring from NOVA Chemicals, the largest ethylene and polyethylene complex in the world, near Red Deer, Alberta, Canada. With his retirement from NOVA, Al is also resigning as board member and secretary/ treasurer of the Investment Recovery Association. (read more)
"Gordie Chennell Wins Bell Aliant Achievement Award" Late in 2007, it was identified that Bell Aliant had not recovered any salvage dollars for scrap wire or wire pulled from service from large tear-down projects. Gordon Chennell, operations manager-materials, started on a fact-finding mission that led to the development of a new business process to ensure Bell Aliant received reasonable returns on the sale of this scrap wire. (read more)
"CMIR's Take Ethics Pledge" Ethical and professional conduct are the hallmarks of those achieving Certified Manager of Investment Recovery status. Below is the pledge that almost 200 CMIRs have taken upon completing their coursework and passing the required examinations. (read more)
"TRUST US... Things to Know About Antitrust" Trade associations, which, by their very nature involve interaction among competitors, are subject to close scrutiny for antitrust violations. Criminal sanctions for inappropriate behavior have increased substantially over the past decade (up to $10 million for corporations and $350,000 and three years in jail for individuals!), so members must be very careful to keep their activities within the prescribed bounds. (read more)I
"IR: When "Doing More With Less" Becomes an Opportunity" Investment recovery (IR) departments are historically understaffed, and today’s economic downturn has exacerbated the issue. The corporate mantra of “do more with less” has made it difficult for many programs to provide the level of service to which their customers and clients are accustomed. (read more)
"Like-Kind Exchanges: Save a Truckload On Taxes When Selling Heavy Equipment"
Companies can defer taxable gains on qualified sales of surplus equipment by taking advantage of like-kind exchange (LKE) transactions as discussed in the cover story of this issue of ASSET 2.0. Taxable gain (or loss) of a surplus asset is determined by subtracting the sale price of the surplus from the adjusted cost basis (original purchase price less accumulated depreciation). If the basis is at or near zero, nearly all of the sales proceeds would be subject to capital gains tax. Because heavy equipment generally has a long operational life, it typically lasts longer than the depreciation. That means you could get taxed heavily on the sale of heavy and process equipment surplus (unless you use a 1031 exchange). (read more)
"Industry Snapshot: Utility IR- Transforming Oil-filled Equipment Into Cash" Regulation and the unique disposition requirements of transformers and other oil-filled equipment are the primary differentiators between utility company IR managers and their counterparts in other industries. And their disposition requirements are huge! Regional utilities in the midst of upgrades can recycle upwards of 40 million pounds of oil-filled equipment in a year. Twenty million additional pounds of scrap metals from electrical cable and other assets is a fairly common annual figure as are a thousand or more vehicles! So utility company IR departments are pretty darn busy! (read more)
"1031: Like-Kind Exchanges" In recent years, corporations have invested more heavily in asset recovery strategies, realizing that a surplus of depreciated assets was costing American businesses billions of dollars each year. As a result, asset recovery groups are now focused on boosting internal efficiencies, increasing revenues and preserving the value of business assets. New requirements to reduce idle inventory, recycle useable materials and otherwise maximize asset values have placed a significant burden on those charged with tracing and reporting the final disposition of business assets. (read more)
"Demolition" or "Deconstruction?" The difference between these two terms become mere semantics for IR professionals, because 'carefully preserving valuable elements for re-use' pretty-much sums up the entire profession. (read more)
"Recycling and Renovation" Faced with the decision of renovating, recycling or replacing? Here are some helpful tips to help you choose the best option for your company. (read more)
"Benchmarking - A Key Benefit of Association Membership" Curious about what the Benchmarking Committee does and how their surveys benefit the association? All of your questions (and then some!) answered here... (read more)
"How Technology Increases the Scope of Auctions" - Recent technological advances have produced many new and effective liquidation strategies that offer pre-auction options. Depending on the timeline (still an all-too-frequent hurdle), Investment Recovery professionals now have a plethora of opportunities available to help get increased visibility and top dollar for surplus assets. (read more)
"Online Auctions" - With the ongoing advancement of technology, online auctions have become a viable and proven resource for the disposition of surplus inventory. For the seller, an online auction exposes surplus equipment to thousands of pre-qualified bidders on a global scale, providing the opportunity to maximize recovery. (read more)
"Doing More With Less" - Like much of corporate America, Investment Recovery professionals are finding they have fewer resources with which to accomplish their ever-growing responsibilities. Here are a few thoughts on how to manage the workload while maintaining some sense of sanity and control! (read more)
"Exploring the Auction Option" - When it comes to selling non-performing assets such as used construction equipment and trucks, the number of decisions to be made can be overwhelming. How to sell. When to sell. Whether or not to outsource. Doing some research and weighing your options will help you sell these types of assets for the highest possible return in the shortest possible time. (read more)
"The CFO and Redeployment" - It is widely acknowledged that companies achieve the highest returns from surplus assets when they can be reused within the organization, avoiding new capital expenditures. Knowing that redeployment maximizes the ROI of surplus assets—what can the Investment Recovery professional and the Chief Financial Officer (CFO) do to help? (read more)
"Demolition Q&A" - Demolition is perhaps the ultimate outsourced service requested by investment recovery practitioners; but like all outsourcing, turning a project over to outside professionals doesn't necessarily guarantee success. To help insure that your next project doesn't blow up on your watch, ASSET 2.0 turned to the Associate Members for some dynamite insight on the demolition process. (read more)
"Overcoming the Surplus Asset Challenge" - At first glance, finding a second home for surplus assets within your own organization should be easy. Like a ride in the park, right? After all, it obviously fit into corporate standards at one point, and the fact that you are even considering redeployment indicates that there is still useful value, even if some in the organization see it as an asset that has traveled its last mile. Four seasoned Investment Recovery professionals share some of their insights into the redeployment process. (read more)
"Going Green Saves Green" - Several years ago, the National Demolition Association did a survey of the general public and found that most people believed that all of the debris from demolition jobs went to landfills. Nothing could be further from the truth; demolition contractors recycled long before it became popular. (read more)
"Environmental Issues in Demolition" - In recent years, some of the "dream" building projects of our parents and grandparents have become today's demolition nightmares because they contained asbestos, PCB's or lead paint. As a result, it now often costs more to remediate industrial sites than it does to demolish them. Here are a few of the more common environmental concerns associated with demolition. (read more)
"Developing Effective Metal Management" - Knowing what not to do and what questions to ask keeps any scrap metal management system efficient, viable and profitable. Stewardship of a valuable asset is not "dealing with junk". Much more is involved in providing effective scrap management than having "a deal" or contract in place with the local vendor. (read more)
The Value Chain - Part V As you increase your experience with Michael Porter's value chain model, the investment recovery function should become a constant, almost invisible part of identifying opportunities that add value, drive out costs and better respond to customer needs in your organization's primary and support activities. (read more)
FIN 47: Retired Asset Accountability The Sarbanes-Oxley (SOX) legislation brought the need to have transparency in financial statements to the forefront of corporate issues. And though many companies continue to look at SOX as a "Financial Department Issue", related regulatory action and interpretations by the Financial Accounting Standards Board (FASB), connected to 'Retired Assets' accounting, has complicated the life of investment recovery managers. (read more)
Maturation of the Investment Recovery Industry Changing market conditions, new manufacturing processes, corporate restructuring and new technology create idle assets that, without astute management, become financial liabilities and put pressure on the bottom-line. The pace of advancements in technology continues to accelerate this process. The more company profits are squeezed, the more successful corporations focus on recouping asset investments. (read more)
Roundtable Notes: Outsourcing Think of outsourcing as another tool in your belt. Outsourcing makes sense when you don't have the internal resources or expertise to do the job. (read more)
Roundtable Noes: Technology The discussion kicked-off with the process used by an energy company for IT surplus management. Briefly, it consists of the following: Equipment is sent to a central warehouse where a form with general info is filled out and the equipment is added to a master list.
Doing Business in China Recycled products in the medical, construction, and electrical industries are in high demand, as are factory process equipment and industrial machine tools and scrap material. However, recycled products in the telecommunications, aerospace and transportation, and IT industries are not popular, as China is seeking to leap-frog several generations of technology to obtain the cutting-edge products in these industries. But if you decide that the Chinese market may be right for your surplus, it is important to understand Chinese business practices. (read more)
Cutting-Edge Generational Leadership Investment recovery professionals are required to work with many groups within their organizations. Bringing out the very best of each generation every day is a clear road map to leadership success. Leaders who win consistently find creative paths to motivate generations to collaborate in new ways in order to win and grow the business together. (read more)
The Cost of Holding Surplus Inventory The Cost of Holding Surplus Inventory can be surprisingly high. Surplus Inventory (idle non-performing assets, excess to the companies needs.) can come from all departments within an organization. (read more)
From the Basement To the Boardroom: Selling Investment Recovery Internally Investment Recovery has long been thought of as the final resting place for company assets, the place where excess and obsolete assets go for final disposition. But how does the final link in the supply chain impact your company? (read more)
CMIR Marketing Checklist Managing and controlling all the elements and processes to achieve and maintain quality results for your company's Investment Recovery effort is challenging to an IR manager. Keeping focused on the goals, objectives, and results is critical to your long-term success and is also an integral part of the marketing effort you put forth. (read more)
IR Marketing: The Value Is In the Details Marketing surplus assets, regardless of the items, begins with knowing exactly what the assets are. It involves knowing the internal circumstances around the decision to sell, determining the market (potential use) for the assets, and then deciding on the method or strategy for selling. Sounds simple and straight-forward, right? It is, except for the much-over-looked fact that no two assets are the same, and no two markets are the same. (read more)
IT Recovery Services Given the well-recognized environmental hazards lurking in most electronics, the dumpster is no longer an acceptable disposal strategy, and while there are a variety of asset removal options for old hardware, successful execution means planning and effort from already overworked IT staffs. (read more)
Taking a Look Back Helps Retailers Stay A Step Ahead Retail industry analysts and leading academics agree, merchandise returns now amount to more than $100 billion per year, with returns management draining away as much as 35% of potential retail profits every year. In a tough economy where companies face increasing pressure from competitors and growing demand from customers, recovering that cost is critical to bottom-line growth and longterm competitive advantage. (read more)
Using Reverse Logistics to Boost Asset Recovery Logistics is defined by The Council of Logistics Management as "The process of planning, implementing, and controlling the efficient, cost-effective flow of raw materials, in-process inventory, finished goods and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements." Reverse logistics includes all of the activities that are mentioned in the definition above . . . but in reverse! (read more)
"Help! I'm Your Laptop and I've Been Stolen!" How to recover your stolen laptop, or at least destroy its secrets, using the latest crime-stopping gizmos. (read more)
"Asset Identification: Radio Frequency Identification Tags" Radio-frequency Identification (RFID) is a continually evolving technology for tracking and monitoring inventories. While it will be some time, years probably, before RFID is a widespread method for tracking surplus industrial assets, it is presently being used in certain commercial applications. (read more)
"Worldwide Trends Are Transforming High-Voltage Supply Markets" Natural disasters such as Hurricane Katrina and other catastrophic weather events, as well as foreign market demand caused by the continued industrial development of China, South America and Africa, are literally transforming the marketplace for transformers and related high-voltage switchgear. (read more)
"Retail Investment Recovery: Beyond Excess Merchandise Inventory" Surprisingly, the retail store industry ha
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