SMART Holdings USA – SMARTvt.org

SMARTvt.org – SMART Holdings USAJohn Mayer, Mark Renkert, Michael Kipp, Michael Hussey, Gabrielle Meunier drive SMART Holdings USA economic Development Engine Creating US Companies and Jobs . SMARTvt created a task force that provides resources, education, training, financing solutions to business startups for approved plans. About SMARTvt.org. Vermont's largest solution provider featuring teams of subject-matter experts with one voice as one firm; SMARTvt.org, a global consultancy offering sustainable socially responsible applications such as Hands-on Engineering, Accounting, Finance, Marketing, New Product Development, Research, Medical Devices and Technology, Pharmaceuticals, Telephony, E-enterprise, IT / IS implementation - service, Merger & Acquisition, LBO, Business Valuation, Forensic Accounting, SEC Compliance, Petrochemical Extraction, Defense Systems, and global manufacturing enterprises.

Vermont businesses, non-profits, and organizations using the center as a confluence of ideas, the exchange of creative spark, and the implementation of plans – all aligned with Truth, Quality, Excellence and category leadership: like Vermont Maple Syrup. #1 in its category; Ice Cream - #1 in its category; Champlain Cable - #1 in its category; Dealer.com - #1 in its category; FAHC - #1 in its category; GMCR - #1 in its category; Tucel - #1 in its category; Shelburne Plastics - #1 in its category; Hubbardton Forge - #1 in its category; Rhino Foods - #1 in their category and the list goes on.

Johnson said that the ideas conceptualized and exchanged at Basin Harbor Club cultivate a richness and success she hasn’t seen anywhere else.

“The retreat center at Basin Harbor has birthed more expansion ideas, creative programs, leadership development programs, and powerful lasting momentum building campaigns than any other business center in Vermont,” says Swisher Hygiene, CFO, Michael J. Kipp (Swisher Hygiene was listed in Forbes Magazine as the most acquisition oriented company in the world.)

Vermont Flight Academy President, Douglas Smith said, “Places like Basin Harbor Club are ideal for pilot lunch-n-learn venues where amphibious aircraft pilots can attend current Water-borne Aviation Trainings .”

Johnson said these are the types of events she’s developing and that are part of Basin Harbor Club’s every-day operation.

V E R M O N T ’ S M O T O R S P O R T G U R U :

R A C I N G D O L L A R S L E A V E V E R M O N T

Motorsports VermontWhy Motorsports Economics Went to New

Hampshire:

SMARTvt.org Motorsport Economic Development Guru, and VP Finance, Northern Power, Vermont Sharrow, CPA understands the powerful community & economic development proclivities of Motorsport Racing in Vermont. Sharrow is an expert in both the history and the economics of the US Motorsport Industry. It is the mortar that binds his family, friends, and activities. His earliest memories recall the bonds built sharing the fascination and exhilaration of motorsport racing with his family and especially his father who had a strong background in hi-performance engine mechanics. Sharrow has served on Race Teams from both the business and racing side of the enterprise and was protégé to industry legend Ken Squire. CBS SPORTS/WORLD SPORTS ENTERPRISES/KEN SQUIER PRODUCTIONS. NASCAR is a revenue driver for regions and businesses that cultivates fans, products, services, information and resources…… See Page 2 NAS CAR

Vermont’s Power Center for Business Idea Creation

Your Issue

Start Your Engines

… Vermont Summer……..

Spring Issue # 8, June 2013

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age 3, EB-5 VT Reality 101(The Bad Side of EB-5)

Page 5, Racing Bike Startup

Page 8, Consulting 101

Page 9, Dr. Olson on Learning

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Sharrow, an expert in Motorsport Racing with an encyclopedic recall of history, data, statistics, names, dates, innovations and opportunities both won and lost on the sport.

He suggests that we can look to our New England neighbors to see some of the upside Vermont is missing citing Southern New Hampshire University, Sports Economist, Dr. Doug Blais, Chair, Sport Management recent report stating, “….NASCAR fans to open up their wallets and spend over $500 to attend a race, travel 250 miles to the race. NASCAR has seen an average attendance increase in its first 13 races to 111,533 from 102,592 last year. While still below peak 2008 figures, this is a good sign for NASCAR and economy potentials.  The income distribution of NASCAR fans closely mirrors that of the overall U.S. population with 20% making less than $30,000 and 25% making between $30,000 - $50,000. A Sprint Cup weekend can generate $100-$200 million for the local/regional economy.  The economic impact of the two Sprint Cup races at New Hampshire Motor Speedway adds $179 million in spending, $103 million in income, and the creation of 2,500 documented jobs with the New Hampshire Department of Labor.New Hampshire recognized the economic opportunities and seized opportunities to win with its large number of tracks: Canaan Speedway, Claremont Speedway, Hudson Speedway, Jolly Roger Motorsports Park, Lee USA Speedway, Londonderry Speedway, Monadnock Speedway, New England Dragway, New Hampshire Motor Speedway, Pines Speedway, Riverside Speedway, Sugar Hill Speedway, Star Speedway, White Mountains Motorsports Park, Winchester Speedpark.Vermont has three raceways: Bear Ridge, Devil’s Bowl, and Thunder Road and only limited sponsorship means and so drivers and owners seeking to expand the market struggle said Sharrow.Sharrow’s unique perspective comes from working directly with NASCAR pioneer and Hall of Fame broadcaster Ken Squier in a variety of motorsports related capacities with extensive focus on tasks related to NASCAR Sprint Cup Series telecasts for CBS Sports, TBS Sports and TNN Motorsports. In addition, performed tasks related to the operation and promotion of Thunder Road International Speedbowl and Airborne Speedway. He directed public relations services for NASCAR Sprint Cup personalities such as: Richard Petty, Bobby Allison, Buddy Baker, Dale Inman, Ken Schrader, Kenny Wallace, and David Ragan and remains friends with these sport legends.

From there he functioned as a successful Motorsport Marketing Advisor designing and presenting marketing partnership programs for northeast regional motorsports teams. This earned Sharrow key alliances with Motorsport Accomplishments: Labatt USA, Reese’s (The Hershey Company), Jolley Associates. (See Raceway Economics Page 5 )In the sound, fury, smoke, grease and blood of the pit Sharrow served with S.D. IRELAND RACING – AMERICAN-CANADIAN TOUR LATE MODEL SERIES TEAM.

These are unusual characteristics for the Vice President of Finance for one of Vermont’s most successful companies, Northern Power where Sharrow plays a Global pivotal role in expanding Northern Power’s global foot print as a relentless advocate for alternative energy master plans, strategies, growth, job creation and economic development..

SMART Holdings USA Spring Issue # 8, June 2013

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SMART Holdings USA Spring Issue # 8, June 2013

All That Glitters Is Not Gold

The Real Story About the Bravado and Risk of EB-5 and how politician’s run for cover when things go bad.

By Mark Renkert, Mcsl

“All That Glitters Is Not Gold,” described Shakespeare in Merchant of Venice in 1596 depicting the importance of discernment when determining value.

And thus can be said about the media’s campaign trumpeting job and economic development creation of the United States EB-5 Program.

The Burlington Free Press with Incredible Zeal reports “10,000 Jobs To Be Created,” The Burlington Free Press  (http://bfpne.ws/ZS1nBl )

Now in light of colossal US EB-5 Failures: Vermont is one of a growing number of states where the media blitz has raised a skeptic’s brow.

Morrisville, Vermont hosted a now-rejected EB-5  Dreamlife Senior Housing Project originated by Quebec Canada resident, Richard Parenteau who has funded two dozen business starts and failures over the years and lately, the Stowe Reporter Newspaper reported that Parenteau’s Dreamlife Retirement Resorts, LLC which filed “Regionally” (which means that they don’t have to meet the Job Generating characteristics mandated by most EB-5 Projects) has raised fraud concerns over principal misrepresentation over partner credentials.

(Quick Reference Guide for EB-5: EB-5 Characteristics Easy Chart)

But the zeal of chasing EB-5 Investors mirrors the Gold Rush of the 1840’s.  And gold it is ..... for Investment idea originators like Stenger who can get as much as $25,000+ per investor and each product can have up to a 100 investors regardless whether the Investment Project flies or not. And there’s additional money that EB-5 Hosts can get: that's right - Project Hosts get up to $35,000 in fees per investor.  And some feel that might be the true motivation behind many of the projects.

For Jay Peak:  once the I-526 had been approved, Stenger has an additional clause in the subscription agreement that provides compensation of $10,000 per investor even if the investor did not pursue the investment after the 30-day review period ended, making Jay Peak one of the few EB-5 regional centers that charged (and still charges) a document fee. (more see: http://bit.ly/VU4aUm)

There are armies of hucksters traveling the world recruiting groups of investor pools with a zeal not seen since the Time-Share-Condominium Recruitment blitzes of yesteryear.   Often with the same kinds of results.

In Vermont  officials sought to stop EB-5 privileges from Richard Parenteau of Quebec after serious misrepresentations occurred where principal’s misstated their credentials and qualifications.

And in Missouri, government officials ran for cover with the colossal failure of Mamtek International when 600-almost-jobs went “poof” as the $65M deal in Moberly, MO tanked sending the CEO to jail for theft and Missouri lawmakers asking critical questions:

“How are jobs forecasted and why is there no audit trail to show a job generating trail. There has to cause-and-effect linkage and it has to be clear and transparent.”

“Four jobs of a promised 600 were created in the Missiouri project– why weren’t the risks disclosed to lawmakers – why weren’t investors told that there was NOT a plant already in operation in China?”

Voters wanted to know who was to blame ?

In Vermont, Bill Stenger’s EB-5 project led the the development of a large water park and indoor pool at a ski area that increased room night visits when ski conditions were bad.  But continuing EB-5 Projects a Bio-lab is currently only half-funded and a Door / Window Door Manufacturing grab the headlines with “Job Creation 10,000 Jobs Forecasted.

Says business financier and valuation expert, Michael J. Kipp, CPA, the CEO of SMART Holdings USA – “That 10,000 Job Generation Number is a statistical impossibility and could not be sanctioned by any Sarbanes Oxley Investment Prospectus in the United States.”

Long time Stenger EB-5 alliance Rapid USA (http://www.visausa.com) CEO, Douglas Hulme, in February 2013 distanced itself from Stenger’s investments.

Seven Day’s Newspaper reported  (http://www.7dvt.com/2012vermont-eb-5-visas) "For five years, Rapid USA had worked closely with Jay Peak to attract foreign investors. The company advertised the project internationally and helped investors navigate the complex process," but the relationship soured when Rapid USA lost confidence in the Jay Peak Plan.

In March 2013 hundreds of immigration attorneys around the world received an email from Rapid USA that announced, “Rapid USA no longer has confidence in the accuracy of representations made by Jay Peak, Inc., or in the financial status of and disclosures made by [it].”

Rapid USA, CEO,  Douglas Hulme turned down repeated media requests to elaborate on his company’s claims. But his silence was deafening and sparked speculation about Jay Peak’s ability to deliver on promises led one critic to claim that Jay Peak and Rapid USA were violating federal securities laws.

“Overall, we have significant concerns about [Jay Peak’s] ability to operate as a going concern,” says Michael Gibson, an EB-5 financial investment adviser who has tangled with Stenger in the past and who posted Hulme’s email on his industry blog. “We’ve had our suspicions for years. We don’t believe Jay Peak is making money.”

Michael Gibson is a leading US EB-5 Expert and has reported and blogged numerous frauds and potential frauds all over the US reported here: ( http://eb5news.blogspot.com/2012/04/michael-gibson-reports-investor.html )Vermont politicians have stood with Stenger to date.

Still…… other Politicians in other states did the same standing by their project yet were duped while also steadfastly supporting the fraudulent investments.

One case involved Missouri Governor Jay Nixon who ardently supported a failed EB-5 Project that jailed its CEO Bruce Cole who was charged with theft and securities fraud and who was arrested with a $500,000 bond.   (http://www.mogop.org/2011/09/5689/)

Governor Nixon Promoting Mamteck Before The Collapse

Meanwhile constituents in Missouri have lost confidence in their job creation team.

While in Vermont: Stenger disputes the allegations and provided documentation showing that sales for the season are up 38 percent over 2012’s dismal year — or $5.7 million. Lift-ticket sales are down $400,000 from last year, Stenger says, but an increase in lodging options on the mountain — 1000 more beds this year alone — has more than made up the difference. For example, sales during the last week of March reached $891,000, compared with $589,000 for that same week in 2011.

Analyst point out that Jay’s discounted package deals have eroded margin but boosted volume making profitability illusive and reliant on steep discounts.

Still others don’t like how data is compiled, measured or reported.Non-Verifiable methodology reporting to US Citizens the program’s Job Creation and Economic Benefits are key

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Sometime in his senior year at the University of Vermont, Education Major and Cycling Racer, Joshua Saxe, had a vision of creating the perfect lightweight durable carbon fiber bicycle frame and integrating top wheels, hubs, top brackets, breaks, chain rings, etc in building one of the fasted most affordable pedal-powered racing machines in the US. By coincidence he discovered an Asian manufacturer and coordinated the production of two frames: one for road cycling and one for mountain biking. Saxe engineered an integrated component package and born was a true racing machine. He spent several seasons perfecting the various combinations and now has launched his company: Flahute Bikes. Flahute Bikes, founded on the mentality of the Flahute cyclist.  "Flahute" was a term coined by French journalists after WWII who used it endearingly to describe their Belgian neighbors, the cyclists who rode the legs off their rivals over the pave and through cold rainy conditions.  These were people who had their country torn apart by war. In this fashion, it is the mission of Flahute Bikes to continue to provide riders the means to ride the legs off their rivals through all mediums of cycling. Saxe, a life long competitive cyclist and design engineer individualizes frames and components specifically calibrated to body of the rider. Carbon Fiber, one of the strongest lightest materials on earth is unique.

SMART Holdings USA Spring Issue # 8, June 2013Race Way Economics Continued From Page 2……

Sharrow continued to concur with analyst that Motorsport Racing Fan Growth and Spending has peaked during the 2008 Economic Collapse but says that players in the market are still making money.

A report in Forbes Magazine (http://onforb.es/ZKyI0H ) reports, Much of the good vibes revolve around TV. Network ratings fell 4% last year (down 6% on cable), but Nascar extended its rights agreement with Fox in October for the first 13 races of each season. The new eight-year agreement is worth $2.4 billion, a 36% increase over Fox’s previous deal.

Some Nascar insiders had speculated that the sport might have to take a haircut in the new deal after the ratings declines, but they got a solid increase instead.

“Television is arguably the most critical piece of Nascar because TV is where it gets its reach,” says Zak Brown, founder and head of JMI, which sells and manages motorsports sponsorships. “It is very encouraging that indicator is so strong.”

To be sure some teams earn money with the Hendrick Motorsport Team valued at $357M and with top drivers like Dale Earnhardt is also the highest-paid driver in the sport for the fifth straight year with total earnings of $25.9 million in 2012 ranging from 7th place driver Danica Patricks at $12.9M.

“Maybe that state of Vermont should sponsor a team the way the National Guard does……” says Sharrow, adding the good will, hope, and publicity would trickle-down to Vermont’s Motorsport efforts.

See for More: http://www.vtmotormag.com/press-release/Airborne

It is important to note that sports sector represents only 20% of the total carbon fiber consumption, with bicycle parts manufacture therefore probably representing only 5% of the global consumption of carbon fiber.

This means that the carbon fiber materials and associated resins that the bike industry is using were originally developed for another sector such as aerospace. There are no bike specific carbon fiber materials, or resins despite of what some more fanciful marketing materials my claim. Carbon fiber use in the bicycle industry

Virtually all carbon fiber bicycle component manufacturing for various bike brands occurs in China and Taiwan by one, or several carbon fiber component factories. The factories employ material and composites engineers who research and implement the ideas and proposed solutions of the bike brands.

Most commonly, the carbon fiber that is used comes in rolls of pre-impregnated fabric, or prepreg. Since carbon fiber composite is a composite material that combines carbon fiber and resin, prepreg means that the carbon fiber has already been saturated with resin. How much resin is present and what type it is depends on the grade and end use of the carbon fiber prepreg.

Bicycle components, specifically bike frames are made using various grades of carbon fiber characterized mainly by their tensile strength and tensile modulus. Tensile strength is the amount of force needed to cause the fibers to break, while the tensile modulus is a measure of the carbon fiber's stiffness.

The cost of the materials generally go up with the increase in tensile strength, or increase in tensile modulus. The tow (weave) also determines the cost of material with larger tow prepreg (eg. 12k) costing less due to the lower cost of manufacture.

Manufacturing processCarbon fiber composite frames can be manufactured using the following two methods:

• Resin transfer (RTM), or fillament-winding method - used in lugged construction where pre-formed carbon tubes are bonded to internal, or external lugs (see: lugged frame construction) and are held in place with glue. Commonly the lug material is now also a carbon fiber composite.

• Closed mold using bag, foam core, sacrificial core or polymer mandrel molding - used to make structural elements for tube-to-tube (bonded tube) frames, and to make monocoque frames. Lugged construction using RTM or fillament-winding carbon tubes. This was the original method of carbon frame manufacture and is a direct descendant of the lugged frame construction used for steel frames. Frames made using the lugged process can offer high performance, but the main reasons for the use of this method to make contemporary frames are: ease of custom geometry changes and lower labor and equipment costs. This allows some high quality modern carbon frame makers to have a successful frame making business outside of Asia.

The tubes themselves are commonly made via an RTM, or filament winding process where carbon tubes are woven around a solid mandrel (usually steel, or alloy) using carbon fiber yarn wound on a spool. With RTM process, resin is applied separately, ie. not

…. a solid mandrel (usually steel, or alloy) using carbon fiber yarn wound on a spool. The RTM and filament-winding carbon tube manufacturing process can be largely automated, allowing economical production.Lugged frame construction has no performance benefits over bonded tube, or monocoque frame construction. The tubes are invariably made of woven carbon fiber with the structural deficiencies described earlier, and they remain free elements held in place by a combined mechanical force of glue and lug. Closed mold using bag, foam core, sacrificial core, or polymer mandrel molding a) Tube-to-tube, or bonded tube constructionThis method can be likened to welding the tubes together. Pre-molded tubes and shapes are bonded to one another using over-wrapping with carbon fiber and resin. The joints are held in place using special mini molds (similar to jigs) and the frame is then either baked in the oven, or in some cases the mini molds have their own heating elements. The joints are thus thermoset and achieve excellent strength, comparable to the rest of the carbon fiber structure. Thermosetting is different to gluing in that a true carbon fiber composite is formed.  b) Monocoque constructionThe entire frame is laid up in a custom shaped mold. There are no tubes as such, just hollow carbon shapes that handle all the loads. Monocoque construction method is the best method for working with man-made composite materials.

Therefore all monocoque frames in the market are actually made from several parts. Velocite frames use the monocoque method, so as an example, the front triangle (head tube, top tube, down tube and seat tube) are molded in one piece to which the rear triangle is attached (seat stays, chain stays, dropouts) using the bonded tube method, and then baked together to create one continuous shape.

There are several methods of making sure that the various layers are tightly packed together. This is generally accomplished by inserting air bladders into the laid up, raw frame, and inflating them once the frame is placed in the mold, prior to baking. This is still how most of the carbon monocoque frames are made. The disadvantage of the common air bladder method is that due to the relatively low pressure applied and complexities making the frame weaker.

Finishing and testingAfter frame and mold have cooled, the frame is removed from the mold. The initial hand finishing of the frame removes the release compound (prevents the frame from sticking to the mold) and any excess resin that flowed to the surface and to the seam where the top and bottom half of the mold meet. After a few more finishing steps, the frames are moved to the paint shop where decals, paint and clear coat are applied. Quality Control – there are 25 final steps prior to releasing the frames from the factory for delivery. These include : final weight of each frame is within specification and that all the mechanical interface points are functioning and ready for assembly, for example the BB30 shell, rear derailleur hanger, headset races, etc. With focus on absolute performance, all frames are rigorously tested for stiffness to ensure that each frame meets our specifications, for fit and for safety.Each frame design is tested to comply with CEN/EN standards. There is a battery of custom tests that are not required by the CEN. These additional test serve to add invaluable information that influence frame design and layup.

IBM Vermont and Burton Snowboard Large Scale Layoffs – Some Decide to Start A Consulting Practice – by Ken Lizotte

If you are just launching a consulting practice it pays to evaluate your chosen approaches to practice management to ramp things up. There are many methods for insuring consulting success and keeping you profitable while your competition struggles to pay the bills. The way you answer four questions in particular could spell the difference between mediocre business flow and stunning success.

Question #1: Define Your Business?Defining your market niche and value proposition ("value prop") is essential for great consulting success. You must not look like everybody else, you must find a way to emphasize a value-added. As an actuarial, to simply proclaim that you offer "accuracy" may not be enough, as that benefit is likely the minimum expected from all our clients.

Focusing on the insurance industry, Maria Thomson FSA, MAAA (Thomson Management Solutions) provides guidance on streamlining and speeding up the underwriting process, an obviously potential competitive advantage for those insurers who make a commitment to learn how. Other value props might be such simple value-addeds as "fast service" or "personal service" or "deep experience with problems in YOUR industry."

Choosing the right value prop will affect your company image, making you more attractive than your competitors who merely offer "accuracy" or imply no special extra value at all. My plumber runs an ad in my local paper which states "I want to be your family's plumber!" That simple commitment held great appeal for me, declaring that my household would be taken care of whenever a toilet overflowed, not forgotten or told to "Wait until Monday."

The other piece about company image is how you project your value. Are you the usual charge-by-the-hour variety or are you, instead, worth something more? To attain the latter, consider a value-based system of billing. This may mean a retainer arrangement or perhaps payment by-the-project.

The benefit to this could be reaping more profit overall as well as instilling client loyalty second to none. Of course, this approach also demands your clients indeed view your value as dwelling on a higher plane than your run-of-the-mill competitors. Achieving that of course brings back again to your selection of value-prop and value-added. Recommended reading: Million Dollar Consulting by Alan Weiss (McGraw-Hill).

Question #2: Have You Organized Your Practice?• Get and update technological tools: Have a powerful desktop, laptop, needed software, cell phone, PDA, fax machine, DSL etc.?  Skype, Linked In, Slideshare, Webex• Arrange an office: • See time as an ally: Time management is the real killer but nonetheless a beast that can be contained. Use a system like: Proven Pomodoro Time Management Tool Here.

Question #3: Do You Stand Out from the Crowd?Ask others what they think of your Public Perception

Have a Blog that declares your Subject Matter Expertise – does your Linked In profile have Recommendations, and Work Product Examples of what you do. Do you have examples on Youtube or Vimeo.

The real key to standing out from the crowd is found in how you position yourself with your target market.

Cold calls are made warm calls when using Linked In. If you don’t have a huge Linked In network buy a premium subscription – tie all your web actions together.

Marketing System ? Here's a three-step approach:• Relationship Management - Spend 40% of your rainmaking efforts interacting with real people. • Creative Use of the Internet - Promote your Blog Pieces – use Tumblr.com, speaking gigs, services, survey results, provocative ideas over the Internet.

- Publish your Blog using Wordpress- Link your Blog to Linked In- Create Slide Share Presentations Linked to your

Linked IN profile- Link all these to a Twitter Feed

Question #4: How's Your Attitude?It's been said many times that the Chinese have the same word/symbol for both "crisis" and "opportunity." With this in mind, such crises as losing clients, slow economic times, and industry dilemmas should be viewed as opportunities-in-the-making.

These of actions are mandatory to keep your perspective in balance, your mind sharp and your energy high.

Avoid Burnout by taking care of yourself. Burnout leads to failure, which leads to more burnout, a terrifying loop. Find what feeds you and do it. Ken Lizotte CMC, Chief Imaginative Officer (CIO), emerson consulting group inc. (Concord, Massachusetts), transforms companies and consultants into "thought leaders" by helping them get their articles and books published, arrange speaking engagements, conduct original research projects, and gain media exposure. President of the Institute for Management Consultants/New England chapter, Ken is author of four books and a popular keynote speaker at professional conferences. Contact him at 978-371-0442 or www.thoughtleading.com.

reasons why The Federation For American Immigration Reform (FFAIF) opposes the U.S. Citizenship and Immigration Services (USCIS) EB-5 program.

FFAIF reports that 70% of EB-5 projects fail to make four years of operation and that less than 1% of job touted are actually created.

So in Vermont’s case that would be fewer than 1,000 jobs after hundreds of millions in investment.

The FFAIF study reported: At present, the debate about the EB-5 program consists primarily on anecdotal evidence of the success or failure of a handful of investment projects.

Analysis of available data strongly suggest that the failure rate has been high, and that the economic benefits provided by the EB-5 program have been negligible, at best. As the USCIS Ombudsman has noted: “The bill’s supporters predicted that about 4,000 millionaire investors, along with family members, would sign up, bringing in $4 billion in new investments and creating 40,000 jobs [annually]."  

However, the most comprehensive study of the program was a 2005 Government Accountability Office (GAO) report which analyzed the performance of the program from 1992 through 2004. The GAO found that after 12 years the EB-5 program had only led to $1 billion (instead of the predicted $48 billion) in investments and there was no reliable accounting of jobs created.To be sure there needs to be reliable and accurate reporting of facts so investors can make informed decisions. 

EB-5 Promoters need to be held accountable about making Forward-looking statements through the media and in their publicity vehicles and measures need to be taken by a governing oversight body to avoid both investor fraud and for State’s taking a hit like they did in Moberly, Missouri.

And while Shakespeare’s line in Merchant of Venice talking about gold rings true….. it is also important to remember that there is no such thing as a free lunch when it comes to investment and that EB-5 may be too unpredictable, unregulated and wild for a State’s economic development engine to rely on.

(Mark Renkert, Mcsl, is Chair of SMARTvt and is a Labor Force Participation Expert and who has spearheaded massive US re-employment efforts. He works as a Retained Executive Search Advisor, a Human Capital Strategist, and Strategic Human Capital Development Advisor to Fortune 50 Companies where he serves on their Board of Directors. (http://linkd.in/10JchKc)

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4. Have designated coaches, if not managers, who are skilled in the tasks being trained who can and want to conduct the training and assist learners gain skills during performance. Coaches, or the peers, must be skilled at constructive, supportive feedback. Your most skilled expert may be your worst instructor, particularly if they don't want to be a trainer, don't have their performance metrics lightened, or worst of all, if they are just about to be forced out of their job and are actually training their replacements. Choose those who can and want to conduct the training and assist learners gain skills during performance.

5. Expect, plan and allow for mistakes; if employees are not making mistakes during the learning process, they aren't learning. If the cost of mistakes is too high, then supervisors, coaches & peers must be on hand to do triage with tasks ... but not take it out on the trainee, the coach, or the manager who is supporting the training activity

If these conditions can not be implemented or made operational, there is virtually no point in developing or investing in training at all because the effort and expense will simply be wasted,

Dr. Mike

Director of Curriculum Development

SMART Holdings USA Spring Issue # 8, June 2013

Dr. Michael Olson, “The Five Must-Haves for Successful Organizational Training

ProgramsSuccessful Business Training must have 5 characteristics:

1. Tied to measurable business performance objectives which can

be applied in an effective operational environment. If the investment

doesn't add to the bottom line by improving quality, reducing cost, or

shortening delivery, why do it at all?

2. Supported by line management because it will help them achieve

objectives they been assigned. Nothing worse than having a grand

executive plan with exquisite detail but not give managers time to

implement, or worse, drop new practices on them out of the blue. In

football, that would be nothing short of a simultaneous high/low blind

side with head shot.

3. Trainees must be assigned to tasks which immediately apply

knowledge. Never forget that skills are NOT "taught;" skill ONLY

comes by practice, on the job or in very realistic job-relevant

simulations. If you don't think so, test your theory by picking up a

book, or eLearning videos, about swimming and then go swim the

English channel. New knowledge and blooming skills will die on the

vine quickly without immediate application and an opportunity for the

trainee to see improvement for themselves. peers, must be skilled at

constructive, supportive feedback .

Question #2: Have You Organized Your Practice?• Get and update technological tools: Have a powerful desktop, laptop, needed software, cell phone, PDA, fax machine, DSL etc.?  Skype, Linked In, Slideshare, Webex• Arrange an office: • See time as an ally: Time management is the real killer but nonetheless a beast that can be contained. Use a system like: Proven Pomodoro Time Management Tool Here.

Question #3: Do You Stand Out from the Crowd?Ask others what they think of your Public Perception

Have a Blog that declares your Subject Matter Expertise – does your Linked In profile have Recommendations, and Work Product Examples of what you do. Do you have examples on Youtube or Vimeo.

The real key to standing out from the crowd is found in how you position yourself with your target market.

Cold calls are made warm calls when using Linked In. If you don’t have a huge Linked In network buy a premium subscription – tie all your web actions together.

Marketing System ? Here's a three-step approach:• Relationship Management - Spend 40% of your rainmaking efforts interacting with real people. • Creative Use of the Internet - Promote your Blog Pieces – use Tumblr.com, speaking gigs, services, survey results, provocative ideas over the Internet.

- Publish your Blog using Wordpress- Link your Blog to Linked In- Create Slide Share Presentations Linked to your

Linked IN profile- Link all these to a Twitter Feed

Question #4: How's Your Attitude?It's been said many times that the Chinese have the same word/symbol for both "crisis" and "opportunity." With this in mind, such crises as losing clients, slow economic times, and industry dilemmas should be viewed as opportunities-in-the-making.

These of actions are mandatory to keep your perspective in balance, your mind sharp and your energy high.

Avoid Burnout by taking care of yourself. Burnout leads to failure, which leads to more burnout, a terrifying loop. Find what feeds you and do it. Ken Lizotte CMC, Chief Imaginative Officer (CIO), emerson consulting group inc. (Concord, Massachusetts), transforms companies and consultants into "thought leaders" by helping them get their articles and books published, arrange speaking engagements, conduct original research projects, and gain media exposure. President of the Institute for Management Consultants/New England chapter, Ken is author of four books and a popular keynote speaker at professional conferences. Contact him at 978-371-0442 or www.thoughtleading.com.