Category Archives: Finance

Dollar Loan Center CEO Chuck Brennan on Helping Las Vegas Charity Rebuild After Fire

December 28, 2013 Chuck Brennan Leave a comment

Chuck Brennan and his company Dollar Loan Center stepped in when the Opportunity Village thrift shop was destroyed in a fire. According to Chuck Brennan, the celebrated Las Vegas, Nev., attraction assists Opportunity Village in its mission of helping people with intellectual disabilities increase their quality of life. Chuck Brennan explains the store’s importance in the

Las Vegas area and how Dollar Loan Center worked to get them back in business.

ZRYLW: What does Opportunity Village do?

Chuck Brennan: Opportunity Village, based in Las Vegas, Nev., manages job training and organizes employment opportunities for people with disabilities.

ZRYLW: How many people does Opportunity Village serve?

Chuck Brennan: Opportunity Village has assisted thousands of people in the Las Vegas area since its inception.

ZRYLW: How well-known is the Opportunity Village thrift shop?

Chuck Brennan: Celebrities like Elvis Presley and Bob Hope used to visit the shops and often donated their personal effects to be sold there.

ZRYLW: How long has this location been in business?

Chuck Brennan: This particular storefront has been part of the Opportunity Village family for 56 years.

ZRYLW: Are the donations through the Dollar Loan Center exclusively for the store?

Chuck Brennan: Yes, all the money donated will be used to rebuild the thrift shop.

ZRYLW: So, what kind of business is the Dollar Loan Center?

Chuck Brennan: Dollar Loan Center provides short-term loans for people in Utah, South Dakota, California and Nevada.

ZRYLW: How did these efforts help employees of the thrift shop?

Chuck Brennan: The thrift shop employs several people, so the store is crucial to them.

ZRYLW: Will they stay employed by the shop?

Chuck Brennan: That’s the main objective. Speeding up the rebuilding efforts will ensure that these hard-working individuals can keep their jobs.

ZRYLW: What other Dollar Loan Center initiatives give back to the community?

Chuck Brennan: Dollar Loan Center donates $100 a day to Opportunity Village for each day that the temperature in Las Vegas reaches 100 degrees.

ZRYLW: But that’s not all, right?

Chuck Brennan: Right. During the rebuilding and remodeling process, Dollar Loan Center will double this amount to $200.

ZRYLW: Of course it gets quite hot in Vegas.

Chuck Brennan: It sure does. The fact that money is going to charity makes the massive heat an easier pill to swallow.

ZRYLW: Where can people find out more information about Opportunity Village?

Chuck Brennan: For details about special events, program and volunteer opportunities, their website is opportunityvillage.org

Finance

Advice for Improving a Credit Rating

June 17, 2013 AdminR Leave a comment

For people who suffer from a poor credit score, there is not always a simple way to correct the problem. However, a few simple tricks can help an individual repair bad credit in preparation for the loan application process.

The first step in addressing the issue is for the applicant to examine the credit report. If a score is too low to qualify, a computer program will run the numbers to define what action the applicant might be able to take. The detailed analysis also determines if there is any way the score can be boosted to snag a better interest rate.

After all these measures are exhausted and the credit score still has not reached an appropriate level, an individual should maintain appropriate credit behavior over a set period of time. If paying bills is a problem, a lending firm can set reminders for clients or enroll them in automatic bill pay.

As far as which debt to pay at first, a lender will likely suggest that a client gather all bills to figure out which ones carry the largest interest rates. The best bet is to pay these bills in full, and then pay a minimum due on the others. When a credit card balance hits zero, it is often recommended that the client cease usage of that card and center their attention on paying off other accounts.

In the past, lenders had recommended that customers close any credit cards that were paid off. Over time, they have begun to shy away from this strategy. These days a client who holds credit cards and controls them responsibly will be considered as less of a risk than a client who holds no credit cards. By owning a suitable payment history, clients can generally bump up their scores and increase possibility of score improvement as balances get reduced.

Late payments will have a major impact on a credit score. Accounts that are more than 30 days late are considered to be delinquent. Anything within the past year on a credit report will carry the most weight when a score is determined.

Business, Finance

Federal Reserve Chairman Examines Economic Recovery

May 22, 2013 AdminR Leave a comment

The leader of America’s central bank is hesitant to proclaim an end to economic trouble after examining recent trends. At the Federal Reserve’s Chicago branch recently, Chairman Ben Bernanke stated that current market conditions continue to be precarious even as many financial experts have declared a full recovery.

Bernanke made his remarks during a lengthy speech that described the Fed’s role in observing the successes and failures of the banking system. The speech was a focal point of the 49th Annual Conference on Bank Structure and Competition, which brings together experts in technical, financial and academic research.

As a central thesis of his speech, Bernanke noted that participants in the financial market have been taking considerable risks in recent months. The extended run of economic stability in America reduced their desire to use reasonable provisions.

Securities lending endures as a major problem. Borrowers have proven unable to finance asset holdings and subsequently were forced to sell. This occurrence drove asset prices down even further, leading to extreme asset liquidation.

Money market funds are also susceptible to the unstable environment. Bernanke believes that risk is amplified because the Treasury has been stripped of its power to secure investors’ holdings in money market funds, which proved critical in halting the disastrous 2008 run.

To introduce the subject of income inequality, Bernanke said that wealthier households have made great gains in net worth, while lower- or middle-income households have declined in capital since the financial crisis. This reality is most apparent in the area of real estate. A number of homeowners are still “underwater,” with homes valued at much less than their mortgage balances. According to Bernanke, this fact alone indicates that the country’s financial well-being is more fragile than statistics might show. As a side note, he recommended that additional regulation should be installed in the repossession market—the wholesale market that financial institutions use for their daily funding requirements.

Bernanke stated that more preparation is required for both investors and market participants so that they can deal with any potential consequences. Leading research for this is the Office of Financial Stability Policy and Research, which educates both the central bank and the Federal Open Market Committee on policy decisions.

In closing remarks, Bernanke assured attendees that the Fed continues to identify threats in order to thwart future emergencies, and carefully monitor the activity of the nation’s financial institutions.

Finance

Charles Brennan Shares History and Services of Las Vegas, Nevada Based Dollar Loan Center

May 3, 2013 Charles Brennan Leave a comment

Las Vegas, Nevada businessman Charles Brennan, whose career includes the music and financial industries, talks about his most successful business venture to date, Dollar Loan Center, in the following interview with Zrylw.

Zrylw: Thanks for joining us. Please tell readers a little bit about yourself.

Charles Brennan: From a young age, all I can remember is being an entrepreneur. I knew I wanted to create a strong financial future for myself. I started my first business in grade school and was working nights at Citibank while I was still in High School. Music played a big part in my teenage life, as it does for most kids. While I didn’t master an instrument, I found I had a knack for band management and concert promoting.

Zrylw: How did Dollar Loan Center start?

Charles Brennan: From my financial background, I knew there was a huge gap in lending between the typical Payday Loan Company and a traditional bank. Short term lending was broken in my opinion. In fact when I started Dollar Loan Center in 1998 I used my promotions expertise to build our brand. I promoted Dollar Loan Center as I would a rock concert and built our customer base on Rock Radio. Our original location was in Las Vegas, Nevada.

Zrylw: Where are Dollar Loan Centers located? Have you expanded beyond Las Vegas, Nevada?

Charles Brennan: Since 1998 we have grown to 80 locations. While the majority of them are still in Nevada, we also have several in Utah, South Dakota and most recently, California.

Zrylw: What services does Dollar Loan Center provide?

Charles Brennan: Dollar Loan Center offers short-term, installment, signature loans, which means that we provide help to the people that really need it and they chose the term length.

Zrylw: Who is eligible to receive a short-term loan from Dollar Loan Center?

Charles Brennan: Anyone can apply, either in person or online at dontbebroke.com. Dollar Loan Center conducts credit checks and employment verification for each applicant. It does not benefit us or the applicant to lend someone money that can’t pay it back.

Zrylw: How is Dollar Loan Center different than typical payday loan centers in Las Vegas, Nevada?

Charles Brennan: The biggest difference is that our customers can keep the loan out as long as they need it and are only charged interest for how long they need the loan.

Zrylw: How is this helpful to customers?

Charles Brennan: The product is less expensive than the loans offered through the traditional payday model. We have no application, origination or pre-payment fees. If someone only needs the loan for 2 days, they will just pay 2 days interest.

Zrylw: Are there other differences?

Charles Brennan: 2 very big ones. Dollar Loan Center does not require recipients to have a checking account and our loans are true signature loans with no collateral required at all.

Zrylw: Is this new/alternative model popular with customers?

Charles Brennan: Last year in Las Vegas, Nevada alone, Dollar Loan Center had nearly 100,000 repeat customers. They were so pleased with Dollar Loan Center loan services that they came back for other loans, referred friends and stayed loyal to our product.

Zrylw: Do loans alone keep customers coming back?

Charles Brennan: We strive to have the best customer service in the industry. Our locations are nicer than most banks with no bullet proof glass or plastic furniture. But one of the big key’s to our success is pricing. We are roughly half the price of the average competition!

Zrylw: Tell readers about these additional supports.

Charles Brennan: On the Dollar Loan Center web site, readers can find information about financial education and can ask financial questions at any time. Dollar Loan Center supports local communities wherever we do business as well and has sponsored sports teams and youth programming.

Charles Brennan is the majority owner and CEO of Dollar Loan Center and co-founder and owner of Clark County Collection Services. Charles Brennan is actively involved in the Las Vegas, Nevada community, playing a major role in impacting the Sioux Falls community where he was raised. Along with his wife and children, Charles Brennan currently lives in Las Vegas, Nevada.

Finance

Scott T. Sohr Describes the Courtside at Southern Woods Development

May 20, 2018 Scott T. Sohr Leave a comment

Today, the staff at Zrylw talks to Scott T. Sohr of Elmington Capital Group. Scott T. Sohr is the Nashville, Tennessee-based developer behind the Courtside at Southern Woods in Brentwood. According to Scott T. Sohr, the development was recently named Neighborhood of the Week.

Zrylw: Scott T. Sohr, thanks so much for taking some time with us today.

Scott T. Sohr: Absolutely, I’m always happy to.

Zrylw: Tell us a little about Courtside at Southern Woods.

Scott T. Sohr: Well, our goal was to set up a neighborhood that’s close to Nashville and filled with great amenities, but still affordable for middle-class families.

Zrylw: What do prices at Courtside look like?

Scott T. Sohr: The homes range in size from 2,800 sq. ft. to 4,200 sq. ft., with prices from $350k to $550k at Courtside at Southern Woods.

Zrylw: Aren’t there also some great schools in the area?

Scott T. Sohr: Yes, some of the best nationwide. The neighborhood is zoned for Edmondson Elementary, Sunset Middle School and Brentwood High School, all of which have great rankings and performance.

Zrylw: Where is the development located? Is it convenient for commuters?

Scott T. Sohr: It’s really close to both I-65 and I-24, making it great for anyone who’s a commuter back and forth to Nashville

Zrylw: What kinds of amenities does Courtside have to offer?

Scott T. Sohr: Residents can enjoy things like a saltwater pool, pocket-size parks, and tennis courts. Additionally, a playground, clubhouse and community areas are all available at Courtside.

Zrylw: Is the development close to shopping?

Scott T. Sohr: Yes, the Cool Springs Galleria is just minutes away, as are the Concord Road YMCA and Brentwood Library.

Zrylw: Does Courtside at Southern Woods come with covenants?

Scott T. Sohr: Yes, there are covenants rules and regulations and a homeowners association at Courtside.

Zrylw: What’s the projected size for Courtside?

Scott T. Sohr: Upon completion, we expect to have 256 homes in Courtside at Southern Woods.

Zrylw: Is it laid out with cul-de-sacs, or in a grid?

Scott T. Sohr: Gently curving streets and cul-de-sacs. We are very pleased with the completed design.

Zrylw: What do you see down the road for Courtside at Southern Woods?

Scott T. Sohr: We want Courtside to be a warm, inviting, family-friendly place that marries up the convenience of easy distance to Nashville, with the small-town charm of rural Tennessee.

Scott T. Sohr is a veteran developer and entrepreneur in the greater Nashville area. Before he even graduated from Auburn University, Scott T. Sohr had formed his first business, selling specialized plastic compounds for industry. Today, Scott T. Sohr is a partner at a group specializing in investments and transactions in distressed properties. Their team specializes in industrial, commercial, residential, multi-family and land properties. He is also a co-founder of Correct Care Solutions and Health Cost Solutions, a third-party administrator for medical plans aimed at companies that are large enough to self-insure. Scott T. Sohr lives in the greater Nashville area with his wife Lyn and their four children.

Finance

Consultant Aldo Todini explains Business Management Systems

January 15, 2016 Aldo Todini Leave a comment

We recently sat down with Aldo Todini, a business consultant based out of Udine, Italy, about Business Management Systems and why using a trained auditor can greatly increase its worth.

Q: Thank you, Aldo Todini, for speaking with us today. We are pleased to present you to our international readership.

Aldo Todini: I am very happy to be here.

Q: First, can you explain what a Business Management System is?

Aldo Todini: Essentially, it is having procedures and plans written out as guidelines for running a business. An effective plan will be written so that every operation in the company can be performed by anyone reading it.

Q: So it means to create standard operating procedures?

Aldo Todini: This is just one aspect of a proper business management plan.

Q: If you had to simplify the process, how would you describe it?

Aldo Todini: Evaluate your procedures to determine areas that need improvement and then do it.

Q: How is that achieved?

Aldo Todini: It depends on the business and its needs.

Q: How long does it take to create and begin using a business plan?

Aldo Todini: It can take weeks or months to really get started. After areas of need are identified and SOPs in place, it’s a continual process of monitoring for compliance and finding new areas to improve upon.

Q: How are they monitored?

Aldo Todini: Many companies choose to have both internal and external audits. An internal audit will usually be performed by a team of executives and supervisory staff. An external audit is completed by an outside source familiar with the company’s industry.

Q: Why have outside auditors?

Aldo Todini: There are many benefits to this. First, an independent audit can identify deficiencies possibly overlooked by staff. And, many top companies require their suppliers to pass a certain level of compliance with industry standards in order to do business with the company.

Q: You mention industry standards. How does a company get certified as compliant?

Aldo Todini: An external auditor can verify that the business they are inspecting maintains operational procedure standards and quality. This makes the company more likely to gain customers who need products manufactured to certain standards.

Q: We appreciate your time today but we must close for now. Thank you.

Aldo Todini: The pleasure is mine.

About Aldo Todini
Aldo Todini is a member of the National Register of Chartered Auditors and diversely experienced business consultant. He is proficient in identifying defects in operations, eliminating waste, implementing current technology, and matching investors to businesses in need to financial stimulation.

Aldo Todini is fluent is Italian, French, and English and has worked with clients across the globe.

***

Aldo Todini consulente d’azienda spiega i sistemi di gestione aziendale.

Un recente incontro con Aldo Todini, consulente d’affari con sede a Udine, Italia, sui sistemi di gestione aziendale e perché con un auditor addestrato può aumentare notevolmente il valore d’impresa.

Domanda: Grazie, Aldo Todini, per questa chiacchierata. Siamo lieti di presentarla ai nostri lettori di tutto il Mondo.

Aldo Todini: Sono contento di essere qui a parlare con voi.

Domanda: In primo luogo, si può spiegare in cosa consiste un sistema di gestione aziendale?

Aldo Todini: Essenzialmente si tratta di definire procedure e piani strategici come linee guida per la gestione di un’impresa. Un piano efficace sarà scritto in modo che ogni operazione in azienda possa essere eseguita da chiunque abbia letto la procedura.

Domanda: Quindi significa creare procedure operative standard?

Aldo Todini: Questo è solo un aspetto di un piano di gestione aziendale.

Domanda: Se dovesse esemplificare il processo, come lo descriverebbe?

Aldo Todini: Valutare le procedure per determinare le aree che necessitano di miglioramento e poi applicare i correttivi necessari.

Domanda: Come viene raggiunto questo obiettivo?

Aldo Todini: Dipende dal tipo di business e dalle sue necessità specifiche.

Domanda: Quanto tempo ci vuole per creare e applicare un business plan?

Aldo Todini: questa fase iniziale può richiedere settimane o anche mesi in funzione della complessità. Dopo che le aree d’intervento sono state identificate e sono state applicate le SOP (Standard Operating Procedures, Procedure Operative Standard), si tratta di un processo continuo di controllo di conformità e la ricerca di nuove aree da migliorare.

Domanda: Come vengono monitorati i processi?

Aldo Todini: Molte aziende scelgono di avere controlli sia interni che esterni. Un audit interno di solito effettuato da un team di dirigenti e del personale di controllo. La revisione contabile esterna è completata da professionalità esterne con esperienza nell’industria dove opera la società.

Domanda: Perché abbiano revisori esterni?

Aldo Todini: Ci sono molti vantaggi. In primo luogo una verifica indipendente permette di identificare le carenze eventualmente trascurati dal piano e dal personale di vigilanza. Inoltre molte aziende richiedono ai loro fornitori certificazioni specifiche prima di poter avere relazioni d’affari con l’azienda cliente.

Domanda: Lei parla di standard di settore. Come fa una società a ottenere le certificazioni necessarie?

Aldo Todini: Un revisore esterno è in grado di verificare che l’azienda che sta seguendo mantenga gli standard di qualità e procedure operative necessarie per la certificazione. Questo offre all’azienda maggiori possibilità nella fase di acquisizione dei clienti che necessitano di prodotti fabbricati secondo determinati standard.

Domanda: Grazie per il tempo che ci ha dedicato oggi. Grazie.

Aldo Todini: Il piacere è mio.

Riguardo Aldo Todini: Aldo Todini è un membro del Registro Nazionale dei Revisori Contabili e consulente aziendale esperto sulla fase gestionale. E’ specializzato nel miglioramento delle operazioni industriali, nell’implementazione di tecnologie finalizzate alla corretta gestione del business, e nella relazione verso gli investitori per imprese che hanno bisogno di supporto finanziario.

Aldo Todini parla correntemente italiano, francese e inglese e ha lavorato con clienti in tutto il Mondo.

Finance

Dennis Dachtler Sacramento on Prudent Planning for Professionals

January 20, 2017 Dennis Dachtler Sacramento Leave a comment

Dennis Dachtler, Sacramento based retirement planning consultant and founder of Dachtler Wealth Management, explains why medical professionals need a helping hand while their hands are busy helping others.

Q. I am still a medical student. My advisors tell me that I really need to consult with a wealth planner. Why?

As a future medical professional, you’ve probably already gotten a glimpse of how hectic your life will soon be. Most physicians barely have time to sleep. Financial planning takes a great deal of time…time you likely won’t have.