Tag Archives: deloitte

140054736

8 ASU grads lead companies on Fast 500 list

Eight Arizona State University alumni are CEOs of companies named to Deloitte’s 2013 Technology Fast 500™ list, according to information released by Deloitte on Nov. 12.

The ASU alumni whose companies made the list include:

  • Sean Barry ’93 B.S., of Bridgevine, Inc.
  • Thomas  R. Evans ’76 B.S., of Bankrate, Inc.
  • Diana P. Friedman ’84 M.A., ’89 M.B.A., of Sesame Communications
  • Brian Gentile ’92 M.B.A., of Jaspersoft Corporation
  • Chet Kapoor ’90 B.S.E., of Apigee Corporation
  • John McDermott ’83 B.S., of Endologix, Inc.
  • Tim Miller ’89 M.B.A., of Rally Software Development Corp.
  • James Triandiflou ’92 M.B.A., of Relias Learning

The Deloitte Technology Fast 500 is the pre-eminent technology awards program in United States and Canada. Combining technological innovation, entrepreneurship and rapid growth, Fast 500 companies – large, small, public and private – span a variety of industry sectors, and are leaders in hardware, software, telecom, semiconductors, life sciences and clean technology.

For more information on the Technology Fast 500 list, visit www.fast500.com.

140054736

Inilex Ranks on Deloitte Technology Fast 500

Inilex, a leading provider of aftermarket telemetry solutions for vehicles, today was named to the prestigious Deloitte Technology Fast 500™ list, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. Inilex’s placed No. 441 on the list.

This honor marks yet another major recognition for the company, which continues to experience tremendous growth and market success. Earlier this year, Inilex was named to the Forbes list of America’s Most Promising Companies, and it placed for the second consecutive year on the Inc. 500|5000 list of the country’s high-growth companies. In addition, Inilex was an honoree of the Arizona Corporate Excellence (ACE) awards held by the Phoenix Business Journal.

“Inilex’s superior technology is the driving force behind our growth. Auto dealers, fleet managers and customers recognize that no other intelligent vehicle services provide real-time, nationwide technology coupled with excellent customer service,” said Inilex CEO Michael Maledon. “We’ve had notable success to date, and we anticipate even more growth as we expand our national network of dealerships, as well as our product lines, and continue to be a force in the telematics market.”

“The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader.  “This year’s list is a who’s who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next.”

Inilex manufactures and sells SkyLINK – the nation’s leading aftermarket theft recovery solution system, which uses state-of-the-art technology to locate stolen vehicles in real time. Inilex also delivers InilexGPS and InilexGPS Fleet, which are customizable platforms for large enterprise accounts to manage vehicle fleets, mitigate risk and track inventories in real time, enabling companies to connect to their mobile assets and workforces.

Sheryl Hildebrand - 50 Most Influential Women in AZ Business

Sheryl Hildebrand – 50 Most Influential Women in Arizona Business

Sheryl Hildebrand – Partner, Deloitte

Hildebrand is Deloitte’s Phoenix leader for its Enterprise Risk Advisory Services practice. She previously held similar roles in Silicon Valley and Seattle. Hildebrand leads a team of 40 professionals providing internal audit, IT auditing, enterprise risk management and finance process improvement services.

Surprising fact: “On sunny weekends, you can find me on the back seat of a Harley — in desert mountain ranges near Phoenix or forested highways of Washington state, traveling with the wind in my hair.”

Biggest challenge: “Being asked to uproot and move my family and my practice two times to take on business growth and leadership responsibilities in new locations. Network, network, network.”

Fifty Most Influential Women in Arizona Business – Every year in its July/August issue Arizona Business Magazine features 50 women who make an impact on Arizona business. To see the full list, read the digital issue >>

taxes

Tax reform aims to help small businesses

During the State of the Union address, President Obama said that tax reform is a key issue for small businesses today. Specifically, the president stressed that many small businesses are overwhelmed with administrative tasks associated with tax filing and deserve the opportunity to focus on strategic areas of their business that could help them grow and hire more workers.

“For many businesses, the complexity of the tax code is challenging,” said Ron Butler, partner at Ernst & Young in Phoenix. “Small businesses and entrepreneurs incur significant costs to interpret and apply federal tax rules and regulations and to produce the required information necessary to prepare accurate returns. They would benefit from a system that modernizes and simplifies their tax compliance and reporting obligations.”

According to the National Federation of Independent Business, tax compliance costs are 65 percent higher for small businesses than for big businesses, costing small business owners $18 billion to $19 billion per year.  In addition, nearly nine out of ten small businesses rely on outside tax preparers. With about half of the private sector workforce employed by a small business — a total of nearly 60 million Americans — these costs, along with tax rates as high as 44.6 percent, carry a heavy burden for small businesses.

“Record keeping and record retention are probably the most overwhelming administrative tasks (for small businesses),” said Donna Witherwax, tax partner at Grant Thornton in Phoenix. “Not only do they contribute to unproductive costs, they also divert attention from the more important tasks a small business owner should focus on. Small businesses often lack the resources to fully understand how the tax law affects their business.”

To put the need for reform succinctly: “Tax reform presents an opportunity to achieve tax code simplification and improve our nation’s present fiscal path,” Butler said.

To help put us on a better path, the House Ways and Means Committee released a set of proposals in March that are aimed at reforming tax laws for small businesses. As part of a broader, comprehensive tax reform package that would significantly lower rates for small businesses, the proposal would reform and try to simplify tax compliance for small businesses and provide certainty with respect to the ability of small businesses to recover certain costs immediately. These include widely supported reforms such as permanent Section 179 expensing and expansion of the “cash accounting” method, amongst other provisions.

“The most important thing for lawmakers to focus on in this tax reform is re-establishing rate equality,” Witherwax said. “That is, making sure that the current tax rate applied to income earned by an active small business that is organized as a partnership, S corporation or sole proprietorship is no higher than the rate applied to income earned by a normal C corporation. Normally, I would say they should focus on making it easier for small businesses to comply by providing simple and direct rules and additional safe harbors, as well as focusing on minimizing the record keeping burden. But this is not a normal tax reform process.”

Witherwax said the tax reform that is currently being discussed in Washington began as a quest to reduce the statutory corporate tax rate in order to address the disadvantage U.S multinationals face in competing with the multinationals of other nations as a result of the U.S. rate.

“There are good reasons to do that,” she said. “But reducing corporate rates alone would disadvantage those active small businesses that operate as partnerships, S corporations or sole proprietorships. Leaving their rate where it is while reducing the rate of their larger C corporation competitors would put these small businesses at a competitive disadvantage. A disadvantage that would be exacerbated  if the revenue lost by reducing the corporate rate is offset by changes that eliminate some of the business tax benefits that small businesses rely on. For these reasons, in this tax reform, rate equality is the most important thing.”

The good new is that the discussion draft released by the House Ways and Means Committee is designed to provide more uniform tax treatment for pass-through businesses such as sole proprietorships, partnerships and S corporations. The draft also includes proposals that would spur investment in equipment needed to grow business operations by providing permanent expensing of investments and property; would simplify tax and accounting practices by expanding the use of the simpler “cash accounting” method to businesses with gross receipts of $10 million or less; would provide relief for start-up and organizational costs by establishing a unified deduction for these expenses; and make tax compliance easier for partners and S corporation shareholders by reordering and simplifying the due dates of tax returns for partners and S corporations.

To create reform that’s going to work, experts say, it’s vital that they solicit first-hand feedback.

“Lawmakers should ask small business owners and their tax advisors what changes they want,” said John Hanson, a tax attorney with Sacks Tierney in Phoenix. “ They are best suited to propose worthwhile changes because they are dealing with these issues daily.”

Dave Camp, R-Mich., chairman of the tax-writing House Ways and Means Committee that released the set of proposals aimed at reforming the tax laws for small businesses, said he encourages small business owners and stakeholders to review the discussion draft and to share feedback with their lawmakers and the Ways and Means Committee.

“More Americans get their paycheck from small businesses than any other type of business or government,” Camp said in a statement. “If we really want to strengthen our economy and put more money in the pockets of American workers, we must fix the Tax Code and how it treats small businesses. In addition to all the complexity these Main Street businesses face, Washington currently taxes them at top rates nearly 10 percentage points higher than their corporate counterparts. That’s simply unfair to small businesses … These are the businesses we see every day, where so many of our friends, family and neighbors work … They need and deserve a Tax Code that works for them.”

THE IMPACT OF REFORM

Ron Butler, partner, Ernst & Young: “A broader, comprehensive tax reform package that lowers rates and simplifies tax rules for individuals, small businesses and corporations could be a driving force for economic growth and job creation in the American economy.”
John Hanson, tax attorney, Sacks Tierney: “Tax reform that reduces the compliance burden on small business owners will allow them to invest more resources in their businesses, become more profitable and create more jobs.”
Donna Witherwax, tax partner, Grant Thornton: “It depends on the tax reform we get.  If business rate equivalency can be restored, and a more efficient tax code adopted, small business could be a winner.”

Curtis A. Hildt, tax managing partner, Deloitte Tax LLP: “Small businesses will be able to focus their efforts toward business operations instead of weaving their way through a complex tax system.”

Jonas McCormick, Deloitte - AZ Business Magazine September/October 2011

Jonas McCormick, Managing Partner, Deloitte

Jonas McCormick is a managing partner at Deloitte, the world’s largest private professional services organization in the world. McCormick discusses his first job was as a lifeguard at the Country Club in his hometown.

Jonas McCormick
Title: Managing Partner
Company: Deloitte

Describe your very first job and what you learned from it.

I was 16, and my very first job was as a lifeguard at Rock River Country Club in Illinois where I grew up. The thing that I think I learned the most in the job was how to deal with people. Each of the different members of the club had different personalities, views, wants, wishes, etc., and dealing and balancing in and among those competing requests and demands taught me a lot about serving customers and clients, and adapting to the personality types.

Describe your first job in your industry and what you learned from it.

I started my career in the consulting practice of Andersen. I started at the very bottom of the firm as a staff consultant. While I spent my fair share of time making copies and getting doughnuts and bagels for the various project teams I worked with in my early days, what I learned about all aspects of business was immense. Learning the profession from the ground up and working my way through every level of the firm is something that I would never trade, given what I learned at each and every level along the way. Also, having a lens into so many different businesses through the clients I have served at every level through the years has provided a dimension and perspective that has been invaluable.

What were your salaries at both of these jobs?

In my first job as lifeguard, I made minimum wage, which was $3.35 per hour at that time. My total salary for the summer was $1,169. My starting salary as Andersen was $32,500.

Who is your biggest mentor and what role did they play?

I have been very fortunate to have many mentors throughout my life and career. They have provided sage counsel, insight and advice in both my personal and professional life. They make up what I call my “personal board of directors” that I turn to quite often. Specific to my current position as managing partner of the firm, I have been the beneficiary of working closely with the likes of Jack Henry, Dave Scullin and Rick Rayson, who have each provided a great example of how to perform in the role and what’s important in the job. Each one of them is quite different stylistically, which has allowed me to learn different attributes from each including how to put my own personal stamp on the role.

What advice would you give to a person entering your industry?

There is absolutely no substitute for hard work, dedication and perseverance. It is a wonderful profession. In the world of professional services and serving clients it is important to know that when you truly concern yourself with welfare of others you engender loyalty and respect and you create value. The more you can take away problems and come back with solutions, the more value you create for those you serve while, enhancing your “personal brand” and reputation as a reliable go-to resource.

If you weren’t doing this, what would you be doing instead?

I honestly can’t think of doing anything else in any other profession. I truly love the professional services world and serving clients.

 Arizona Business Magazine September/October 2011

Deloitte Report Reveals Mid-Market Companies Expect U.S. Economic Growth

A New Report Finds Companies Are More Optimistic About The Nation’s Economy

More than 90 percent of mid-market companies expect the U.S. economy to grow this year. That’s according to a new survey by Deloitte.

The “Mid-Market Perspectives: 2011 Report on America’s Economic Engine” also finds that almost 56 percent of the companies surveyed will focus on domestic growth this year, while 44 percent of firms with annual revenue of more than $500 million will focus on global expansion.

The research firm Economist Intelligence Unit conducted the survey of mid-market CEOs and executives from across the country. The survey gauges mid-market businesses’ plans for growth and recovery following the Great Recession. According to the report, more than 72 percent of respondents say they are now seeing higher productivity than before the recession.

Of the 527 senior decision-making executives surveyed, 69 percent say they plan on adding full-time employees this year; 38 percent will pursue financing to expand business; and 81 percent expect their annual revenue to increase in 2011.

Two-thirds of the companies report lower debt ratios today compared to pre-recession years. Also, more than half report higher cash balances. In addition, more than 60 percent of the companies agree cash balances will remain high, while debt ratios will remain low.

According to Tom McGee, national managing partner of Deloitte Growth Enterprises Services, Deloitte LLP, the mid-market’s role is important to the economy due to its tremendous revenue. Mid-market companies comprise 40 percent of the national gross domestic product and employ nearly 25 million people.

Although the survey reports an optimistic outlook for the U.S. economy, obstacles lay ahead. Executives believe government debt and the strength of the economic recovery could hinder growth. Half of all respondents cite government debt at the federal, state and municipal levels as the primary economic challenge.

The survey also found:

  • Executives are concerned that regulation, health care costs and high tax rates will hinder growth in the long- and short-term.
  • Only 20 percent of executives believe the economy will grow quickly enough to support widespread job creation.
  • Only 8 percent of the 80 percent of privately held companies surveyed plan to go public in the next year, with nearly 70 percent of those attributing decision-making control as the primary reason for remaining private.


The companies surveyed include private and public companies with annual revenue between $50 million and $1 billion, with the most-represented industries being business/professional services, consumer/manufactured goods, and health care, pharmaceuticals and life sciences.

National Bank of Arizona - Best of the Best Awards 2009 presented by Ranking Arizona

Best of the Best Awards 2009: Finance & Professional

Finance & Professional Honoree: Banks: $900M or more in AZ assets

National Bank of Arizona

National Bank of Arizona - Best of the Best Awards 2009 presented by Ranking Arizona

Photograph by Duane Darling

With 25 years of strength, stability and profitability, National Bank of Arizona is one of the state’s premier financial institutions. Since its inception, National Bank of Arizona has been there for its customers, continually searching for new ways to help Arizonans meet their financial goals. As a community focused and locally managed bank with the resources of a major financial institution, we deliver industry-leading product solutions, award-winning service and innovative technology. Through our team of more than 1,100 employees, National Bank of Arizona reaches 55 diverse communities throughout Arizona. With this staff of experienced local bankers, we are able to respond to the needs of our customers with flexibility and custom solutions.

The effort, commitment and passion put forth by our bankers to deliver the very best customer service adds new honors to a bank that has been achieving firsts and bests since 1984.

6001 N. 24th St., Phoenix
602-235-6000
www.nbarizona.com

Year Est: 1984 Branches: 76
Principal(s): John J. Gisi,
Keith D. Maio
Assets: $4.8B


Finance & Professional Finalist: Accounting Firms: 26 CPAs or more

Deloitte & Touche LLP

Deloitte & Touche LLP’s goal today remains the same as it was since it began serving Arizona businesses more than 45 years ago. Deloitte & Touche is dedicated to helping its clients and people excel. Deloitte’s growing and thriving practice — the largest in the state — is the only company that provides Arizona businesses with a comprehensive range of professional services, including assurance, tax, enterprise risk management, management and information systems consulting, financial advisory services, employee benefits and human capital. Deloitte & Touche strives for the highest levels of integrity and public trust, every day, for every client.

2901 N. Central Ave., #1200, Phoenix
602-234-5100
www.deloitte.com/us


Finance & Professional Finalist: Law Firms: 65 Attorneys or more

Greenberg Traurig LLP

Greenberg Traurig offers an international platform built to meet the legal needs of today’s businesses. With 1,800 attorneys and governmental affairs professionals in 30 offices, our combination of wide-ranging experience and onthe- ground resources enables us to provide local insights and legal services in markets across the U.S. and around the world. Our Phoenix attorneys offer clients decades of local experience, complemented by the global reach of the GT network. GT helps clients take on the legal challenges they face today — and prepare for those they may face tomorrow.

2375 E. Camelback Road, #700, Phoenix
602-445-8000
www.gtlaw.com


Best of the Best Awards 2009 presented by Ranking Arizona