Business & Personal Finance

Living in a world without Twinkies

One of my fondest memories of childhood was the occasional treat of the pure indulgence of a Twinkie.  My mother in law, when my husband was young, would put a candle in the middle of one, and presto - a ready made birthday cake!

Hostess, the maker of Twinkies, as well as the equally delicious Ding Dongs, Hostess Cupcakes, and Snow Balls, recently announced that the company was filing for bankruptcy protection.  It seems that today's consumer is after healthier snacks. 

This whole discussion about Twinkies got me thinking about the snack cake industry in general. So I decided to have a look to see what I could find.  A field trip to my local grocery store showed that a couple of other companies are out there in terms of competition.  Vachon, a Quebec company founded in 1923, has multiple lines of products, as does Little Debbie, a Tennessee based company also founded around the Great Depression had significant shelf space.

But all of these companies are privately held - therefore they don't need to give any sales figures.  So how does one find information on industries that are rife with private companies? 

I began my search with the Gale Virtual Reference Library, which has a directory called The Market Share Reporter.  A quick search revealed that Little Debbie and Hostess are the top brands for sales.  This reference also gave me a NAICS (North American Industrial Classification System) code to work with.  This gives what the company sees as its major line of business.  In this case it was 311812 (Commerical Bakeries).  With this code I could now search a number of databases to find out more information. 

Other possibilities for searching for more industry information, to name a few, include:

• Scott's Online

• Marketline
  

• Business and Company Resource Centre

• Canadian Business and Current Affairs

All accessible with your TPL library card through our website.  Marketline is the only exception - you need to be at one of the Research and Reference branches of the system.  This approach can be used for almost any industry that you are looking to find information on.  Industry periodicals, and statistical sources such as Statistics Canada and the Census Bureau of the United States compiles industry statistics  are also great sources for information.

By the way - Hostess has assured that the flow of Twinkies will continue despite its bankruptcy filing.  Another crisis averted!

 

 

This month's business quote is...

... "The four most dangerous words in investing are, 'This time it's different'."  Sir John Templeton

For more information about Sir John Templeton and his method of investing, the following titles may be of interest:

Templeton, Lauren C.  Investing the Templeton Way : The Market-beating Strategies of Value Investing's Legendary Bargain Hunter.  New York : Chicago, IL. : McGraw-Hill, c2008.

Berryessa, Norman.  Global Investing : the Templeton Way.  Homeland, Ill. : Dow Jones-Irwin, c1988.

For books on value investing, try the following titles:

Epstein. Lita.  The Complete Idiot's Guide to Value Investing.  Indianapolis, IN : Alpha, c2009.

Lowe, Janet.  The Triumph of Value Investing : Smart-money Tactics for the Post-recession Era.  New York : Portfolio Penguin, c2010.

Mizrahi, Charles.  Getting Started in Value Investing.  Hoboken, N.J. : J. Wiley & Sons, 2008.

Montier, James.  Value Investing : Tools and Techniques for Intelligent Investment.  West Sussex : Wiley, c2009.  This title is also available as an e-book.

To learn more about investing in general, the Toronto Reference Library has a series of Investment Programs during the month of November 2011.

Wednesday, November 2, 2011
Seasonal and Technical Analysis of the Stock Market
Speaker:  Brooke Thackray, Research Analyst at JovInvestment
Wednesday, November 2, 6:30-8:00 p.m.  Beeton Auditorium
Learn when is the best time to invest and get out of the specific sectors when investing in the stock market.

Wednesday, November 16, 2011
Principles of Constructing Investment Portfolios
Speaker:  John DeGoey, Portfolio Manager at Burgoenvest Bick Securities
Wednesday, November 16, 6:30-8:00 p.m.  Beeton Auditorium
Learn the most important considerations that retail investors should take into account when constructing portfolios:  cost, taxes, purity, risk and return, asset allocation and portfolio re-balancing.

Wednesday, November 23, 2011
Creating your Own Defined Benefit Pension Plan with Guaranteed Variable Annuities
Speaker:  Michael Banwell, CFP at Banwell Financial Inc.
Wednesday, November 23, 6:30-8:00 p.m.  Beeton Auditorium
Guaranteed Variable Annuities allow investors to replicate a defined benefit pension plan with estate planning features.

Admission is free.  All are welcome.

If you have any questions regarding these programs, please call Answerline at 416-393-7131.

Value Line now available on-line at select TPL branches.

If you are investing in the stock market, now more than ever, doing your research can result in either making a bundle or losing the same.  The two major business departments of the Toronto Public Library system, located at North York Central Library and the Toronto Reference Library, have always offered a variety of investment newsletters to assist individual investors in their research.  Value Line has been one of the most popular resources over the years.  And now it is available in electronic format, in house, at both of these branches.

If you aren't familiar with this source, you should become acquainted.   First a bit about Value Line from the company itself.  "Arnold Bernhard founded Value Line in 1931 and built it into one of the nation’s largest independent investment advisory services as well as a major money management institution. He was known as the "Dean of Wall Street" by many in the investment community because of his keen analytical acumen and the number of security analysts he trained."

The Value Line service as it appears today, was started 32 years ago.  Reports for companies traded on major exchanges are set up as "one stop shopping" for information about a company and include analysis and rankings from Value Line staff. 

Statistical data includes graphing of stock over the past 10-13 years, growth rates, quarterly sales and earnings, statistical milestones, including long term trends.  A brief description of the company is given as well as analysts commentary on the company's recent developments and future prospects.  The on-line version includes industry analysis as well. 

Stop by either business department and have a look at this exceptional resource.  While you are in the library, why not check out some of the other investment newsletters each subscribe to.

 

 

Determining the Viability of a Business Idea

The Business, Science and Technology Department at the Toronto Reference Library is hosting a program on determining the viability of a business idea.  Learn what factors determine if your business idea will turn into a successful business.

Program:  Determining the Viability of a Business Idea
Speaker:  Josh Wiwcharyk, Professor at George Brown College
Date:  Wednesday, October 12, 2011
Time:  6:30 - 8:00 p.m.
Place:  Beeton Auditorium, 1st Floor, Toronto Reference Library

Registration is not required.  All are welcome!

For books on this topic, check out the following titles at the Toronto Public Library:

Abrams, Sandy.  Your Idea, Inc.  Avon, Mass.: Adams Media, c2010.

Beach, Jim.  School for Startups : The Breakthrough Course for Guaranteeing Small Business Success in 90 Days or Less.  New York:  McGraw-Hill, c2011.

Fairbrothers, Greg.  From Idea to Success : The Dartmouth Entrepreneurial Network's Guide for Start-Ups.  New York : McGraw-Hill, c2011.

Learn2succeed.com Inc.  Steps to Starting a Recession-proof Business : Where to Find Ideas and How to Start.  Toronto : Productive Publications, 2010.

O'Leary, Kevin.  Cold Hard Truth : On Business, Money and Life.  Toronto : Doubleday Canada, 2011.

Southon, Mike.  The Beermat Entrepreneur : Turn Your Good Idea into a Great Business.  New York : Pearson Prentice Hall, 2009.
 

For more titles on this topic, search the Toronto Public Library's catalogue with the subject headings of entrepreneurship and/or new business enterprises.

To all reading this blog on Monday, October 10, 2011, have a Happy Thanksgiving !!!

Are Books in Print becoming Artifacts of the Past?

For the first time ever, e-book sales surpassed paperback and hard-cover book sales in the U.S. during February 2011. 

The Association of American Publishers' sales report dated April 14, 2011 states "e-Books ranked as the #1 format among all categories of Trade publishing (Adult Hardcover, Adult Paperback, Adult Mass Market, Children's/Young Adult Hardcover, Children's/Young Adult Paperback)"  It further states "E-Book sales were $90.3 Million, growing 202.3% vs February 2010."  Click HERE to view.

Indeed, a growing number of articles report on e-books' increasing popularity and its affect on the book publishing industry.  E-books can no longer be considered as a passing fad.

Margaret Wente, columnist, recently wrote an interesting article entitled "Like It or Not, the Book is Dead" published in The Globe and Mail on November 16, 2010. p. A.19.  She states, "the physical book is going the way of the vinyl record and the roll of film... One expert, quoted in the New York Times, predicts that, within a decade, fewer than 25 per cent of all books sold will still be print on paper."

People appear to be embracing the change from print to digital format.  E-books are less expensive. Margaret Wente writes "Buy a Kobo e-reader for $98, which is no more than the cost of three or four print-on-paper books, and download The Sentimentalists for $14.95.  If it turns out to be a stinker, don't throw your e-reader across the room.  It's already pre-loaded with a hundred other books..." 

E-books are also available at public library web sites for free.  Public libraries have been building e-book collections over the past few years.  Click HERE to view e-books from the Toronto Public Library (an active Toronto Public Library card is needed for access).

Another article by Laura Jofre entitled "The Toughest Goodbye : De-cluttering Bookshelves and Purging Old Books can be Daunting" indicates possible reasons for e-books' popularity.  Print books are:

• unwieldy after years of accumulation
• heavy and must be taken to a used bookstore or location, if accepted
• difficult to donate since retirement homes, libraries, and day care centres tend to turn used books away

Click HERE to view the original article.

 

For more information on e-books and changes to the book publishing industry, check out the following titles at the Toronto Public Library:

Gomez, Jeff.  Print is Dead : Books in Our Digital Age.  London ; New York : Macmillan, 2008.  Click HERE for details.

Striphas, Theodore G.  The Late Age of Print : Everyday Book Culture from Consumerism to Control.  New York : Columbia University Press, c2009.  Click HERE for details.

 

For industry overviews, search the Business & Company Resource Center database with the keywords Electronic Publishing and/or Book Publishing under the Advanced Search tab.  Change Content Area to Industry Overviews and then click on Search. An active Toronto Public Library card is needed for access.  Click HERE to search.

 

For articles, try searching 'E-books AND Electronic publishing' or 'E-books AND Publishing industry' in the Canadian Business & Current Affairs database.  An active Toronto Public Library card is needed for access.  Click HERE to search.

or try the following subject searches 'Book Publishing', 'E-Books', 'Electronic Publishing' or 'Publishing Industry' in Canadian Periodicals Index (CPI.Q).  An active Toronto Public Library card is needed for access.  Click HERE to search.

Investing in Challenging Times

The Business, Science and Technology Department at the Toronto Reference Library is hosting two, additional programs on investing in challenging times.

Program:  Surviving and Thriving in an Uncertain Market Environment
Speaker:  Ross Healy, CEO of Strategic Analysis Corporation
Date:  Wednesday, November 10, 2010
Time:  6:30 - 8:00 p.m.
Place:  Beeton Auditorium, 1st Floor, Toronto Reference Library

and

Program:  The GlobeInvest Investment Process in Picking Stocks
Speaker:  Christine Poole, Managing Director, GlobeInvest Capital Management
Date:  Wednesday, November 17, 2010
Time:  6:30 - 8:00 p.m.
Place:  Beeton Auditorium, 1st Floor, Toronto Reference Library

Registration is not required.  All are welcome!

 

For books on investing, check out the following titles at the Toronto Public Library:

Appel, Gerald.  Opportunity Investing : How to Profit When Stocks Advance, Stocks Decline, Inflation Runs Rampant, Prices Fall, Oil Prices Hit the Roof, and Every Time in Between.  Upper Saddle River, N.J. : Financial times Press, 2007.

Arnold, Glen.  The Financial Times Guide to Value Investing : How to Become a Disciplined Investor.  2nd Ed.  New York : Prentice Hall/Financial Times, 2009.

Ellis, Charles D.  Winning the Loser's Game : Timeless Strategies for Successful Investing.  5th Ed.  New York : McGraw-Hill, 2010.

Greenblatt, Joel.  The Little Book that Beats the Market.  Hoboken, N.J. : Wiley, 2006.

Leeb, Stephen and Donna Leeb.  Game Over : How You Can Prosper in a Shattered Economy. 1st Ed. Trade Ed.  New York : Business Plus, 2010.

Swedroe, Larry E.  Rational Investing in Irrational Times : How to Avoid Costly Mistakes Even Smart People Make Today.  1st Ed.  New York : St. Martin's Press, 2002.

 

For more titles on this topic, search the Toronto Public Library's catalogue with the subject headings of 'speculation' and/or 'investments'.

 

But is it worth anything?

An article in the Toronto Star reminded me of a question that comes up on a regular basis at our reference desk.  The article entitled "Historic 'Rembrandt of shares' could be world's most valuable" (Toronto Star, September 12, 2010, p A13), discussed the discovery of what could be the world's oldest stock share.  The certificate was for a founder share in the Dutch East India Co. dated September 9, 1606.  The certificate could be worth as much as $791,000 - but only as an historic artifact.  The company ceased to exist in 1799.

We have patrons come into the Business departments at both Toronto Reference Library and North York Central Library with stock certificates that they have found, usually while cleaning out a deceased love ones papers, wondering if the company still exists and more over -is it worth anything?

Well, the good news is that there are many sources, both in print (if the stock is very old) and electronically, that can assist in determining whether the paper in hand is worthless or your ticket to financial gold. 

Both departments have a guide entitled "Researching an old Stock Certificate", that can navigate you to sources both in the library and out, that will help you.  Some examples of frequently used tools include Financial Post Advisor (which includes predecessor and defunct company information), and Canadian Mines Register of Dormant and Defunct Companies and the Canadian Mines Handbook.  Toronto Reference Library has an extensive collection of historic annual reports for Canadian public companies, and on-line there is SEDAR, which includes filings and annual reports for public companies since 1996.  

Some other sources that might help for finding information on your Canadian stock include:

The Canadian Annual Financial Review, which identifies transfer agents for Canadian public companies from the turn of the century to 1941.

The Stockholders and Investors Annual, which includes financial records for approximately 100 important stock companies that were listed on the Montreal and Toronto stock exchanges in the late 1800s.

Let us help you see if your stock is worth the paper its printed on!

 

 

Business Plans: Not Just for Entrepreneurs

Business plans are beneficial because they help entrepreneurs and well-established business owners set and reach attainable goals in relation to their businesses.

A business plan is a written statement that "describes your business, its objectives and strategies, the market you are targeting, and the financial forecast for your business."  (Source:  Canada Business)

According to the Canada Business website, there are many benefits to preparing a business plan.  If you are starting or already have a business, they may assist you in:

• thinking about your business, recognizing opportunities and risks, and testing some of your expectations
• helping you determine the cash needs of your new business's (or established business's) goal(s)
• seeking financial assistance from banks and/or investors
• providing a benchmark against which to compare the progress and performance of your business

The Business, Science and Technology Department at the Toronto Reference Library  is hosting a free program with professional advice on Business Plans:

Business Plans for Small Businesses
Speaker:  Sally Wilkie, Toronto Business Development Centre
Wednesday, October 20, 2010
6:30 - 8:00 p.m.
Beeton Auditorium, 1st Floor, Toronto Reference Library
All are welcome

For on-line information about business plans, try the recommended websites by Toronto Public Library staff at the TPL home page under Books, Video, Research & more > Recommended Websites > Business, Finance and Economics > Small Business and Entrepreneurship > Business Plans & Planning.  Thirteen recommended websites on business plans and planning are listed that contain advice, samples, templates and more.

For a variety of business plan samples, try the Business Plans Handbook located in the Gale Virtual Reference Library via the Toronto Public Library homepage.  A TPL library card is required to access this on-line database.

 

For additional information, check out the following titles at the Toronto Public Library:

Chambers, K. Dennis.  Entrepreneur's Guide to Writing Business Plans and Proposals.  Westport, Conn.: Praeger, 2008.

Covello, Joseph A. and Brian J. Hazelgren.  Your First Business Plan. 5th Ed.  Naperville, Ill.: Sourcebooks, 2005.

Karlson, Carolyn Boulger and James S. O'Rourke.  Writing and Presenting a Business Plan.  2nd Ed.  Mason, OH : South-Western Cengage Learning, 2009.

Ramsey, Dan and Stephen Windhaus.  Everything Business Plan Book:  All You Need to Succeed in a New or Growing Business.  Avon, Mass.:  Adams Media Corp., 2009.

Sahlman, William Andrews.  How to Write a Great Business Plan.  Boston, Mass.:  Harvard Business School Press, 2008.

Tiffany, Paul, Steven Peterson and Nada Wagner.  Business Plans for Canadians for Dummies.  Mississauga, Ont.:  J. Wiley & Sons Canada, 2008.

 

For more titles on this topic, search the Toronto Public Library's catalogue with the subject heading of 'business planning'.

 

Dream up - Let your customers take you there - Small Business Forum 2010

Join us in celebrating Small Business Month, by visiting the Toronto Public Library booth at this years Small Business Forum.  Staff from the business departments of North York Central Library and Toronto Reference Library, will be there to promote library resources to help your small business.  No matter what stage you are at with your business, we have materials to assist you.

This years forum, in addition to 87 exhibitors, a Demo camp and Digital Zone to try out new technologies, will include seminars through out the day, and will conclude with an evening event that will feature creative Ignite presentations from some of Toronto's entrepreneurs.  The forum will end with a keynote from serial entrepreneur and venture partner, Austin Hill.  Check out the full schedule of events.  Registration begins at 8:00 a.m.  Online registration can be done through the Enterprise Toronto website.

When: October 19, 2010 from 9:00 a.m. to 4:00 p.m. with post Forum events from 5:00 p.m to 8:30 p.m.

Where: Metro Toronto Convention Centre, 255 Front Street West, North Building, Level 100

Come visit us at booth #16!