PizzaPapalis Taverna is bringing a taste of Chicago to Downtown Toledo.
“Our mission statement from day one has been to make the best pizza in America,” said Joe Sheena, one of the owners.

Joe Sheena

The restaurant, a project three years in the making, will open Feb. 2 at 519 Monroe St., contiguous to Fifth Third Field.
Sheena said he is confident the restaurant will do well.
“We believe in what we do. People have to eat. Our product is unique enough that I think we will draw attention to it … I get people e-mailing me all the time telling us how excited they are about us opening up,” he said.
The Toledo PizzaPapalis Taverna will be the first one outside Michigan.
“Our deep-dish pizza is unique; you’d have to go to Chicago to see the same type of product,” he said.
The deep dish pizza makes 50 percent of menu sales.
Some other menu items include thin-crust pizza, homemade calzones, Stromboli (oven-baked sandwiches), flat bread sandwiches, pizza entrees, soups and salads.
Prices on the menu are moderate, Sheena said.
“If you get a large deep-dish pizza, you’re going to feed four people out of that. It’s not one of those standard deep-dish pizzas where you order a large and feed two people,” he said.
Sheena said a lot of time is taken to make sure the pizza is made right.

“From the ingredients that we use to the way our ovens cook the pizzas, to the way even our refrigeration’s set up to make sure our dough is held at the absolute best conditions possible [and] even to the pans that we use, which are seasoned,” he said.
Having the restaurant adjacent to the ball park will be an advantage in that people will drop by to eat before a game and after the game, Sheena said. The field can be seen from the second floor of the restaurant.
“We have five windows that we went to great lengths to try to get, and I will have to say that the Mud Hens themselves, the managing group over there, were phenomenal in allowing us to do this. They’ve been great partners to us,” he said.
On game days, 10 percent of the restaurant’s proceeds will be donated to the Helping Hens.
Sheena said 90 positions at PizzaPapalis Taverna were filled in nine days.
“We’re happy to be in this community,” Sheena said. “Here are some of the friendliest people I’ve ever met.”
The restaurant has a capacity of 275. A bar area will be included, as well as 20 flat screen TVs throughout the restaurant, Sheena said.

The other owners are Mark Sheena, Tom Stegeman and George Krcek.
Visit www.pizzapapalis.com and click on links for more information.

Don Helvey wants to make sure the best medical doctors remain in Northwest Ohio.
His company, NuEquity Development, specializes in the design, development and building of medical offices and gives physicians the opportunity to co-own their space.

Don Helvey

“That is all we do is medical buildings,” Helvey said. “I have a model put together that offers ownership to physicians. Let’s say a doctor wants to go out and own his space, we find a location, a new or existing building, and depending on how much money he wants to invest, will dictate how much he will own.”
Helvey can offer ownership with no out-of-pocket money as well. If someone wants to own in the future, he can work with that, too.
“I recognize there is a need to retain kids out of school … if you stay in Toledo, here is an opportunity for ownership. I know you have serious debt right now and you do not have any money to invest and I can help you with that.”
Helvey said NuEquity enables doctors to secure and maintain ownership positions in premier medical offices without sacrificing their medical practices.
“It is hard for a doctor to stay focused on real estate when he is busy with being a doctor — we are going to be partners — I will keep you apprised of what is going on,” he said.
“If the doctors say, ‘I do not want to own,’ we can take them as a tenant ­— if someone came to me and said, ‘I have a group of doctors; we want to do our own deal,’ I will work with them.”
The buildings are generally 10,000 square feet and up. If a group of doctors want only 5,000, he would find someone else to go on the other side. The idea is to fill a building with doctors who can feed each other recommendations.
“We are really flexible … I grew up with a lot of the guys. I watched what has happened in the industry. The doctors who have committed to staying in Toledo [or anywhere] are getting hit with higher malpractice insurances, and doctors are looking at other areas of revenue.  Owning real estate is good to invest in. If you are going to be somewhere for 20 years, why not invest in yourself?”
Helvey grew up in the Old West End, graduating from Central Catholic High School and UT. He worked at St. Vincent’s Medical Center, moving his way up from housekeeping to administrative director of support services. While at St. Vincent’s, he attended UT over a series of years, graduating with a bachelor’s in liberal arts in 1984.
During his time at St. Vincent’s, he got his real estate license, eventually leaving St. Vincent’s and overseeing property management for the hospital via contract. When that ended, he decided to stay in real estate and got his brokerage license.
“This isn’t about what hospital system you favor, this is all about retaining physicians in this area,” Helvey said of his development company.
Not only does Helvey believe Toledo is a great place to live, but he believes in the health care system. Keeping physicians in the area is imperative to correcting the brain drain.
“There is something about Toledo,” he said. “I have lot of friends I graduated with from Central Catholic; five or six moved out to San Diego. It is great out there and I always think, ‘what a great place to live.’ But every time we get into a car to go somewhere, it takes 40 minutes to get anywhere. Quite frankly, I do not think I could do that. I am used to getting in my car at anytime of the day and getting there in 20 minutes.”

More than a year ago, UT began a planning process that was designed to address the main criticism of economic development in Northwest Ohio. That criticism is that the economic development agencies are fractured and their efforts are duplicative. This Meta-Plan, also known as the Toledo-Regional Economic Plan, has significantly improved the effectiveness of the agencies and help us better understand the role that we play in the economic development system.
The Lucas County Improvement Corporation (LCIC) acts as the coordinating agency for economic development efforts in Lucas County.  Essentially, this means that LCIC coordinates the efforts of our partners in the areas of project development and resource identification. LCIC also implements the economic development strategies of its partners in the community.
In 2009, LCIC will have four main goals. It will focus its efforts on business retention, business attraction, resource development and community outreach. All of these are significant factors in determining how successful the regional economy will be.
In 2008, LCIC coordinated more than 30 successful projects that developed more than $50 million in capital in our community.  In 2009, LCIC looks to double these numbers with the proper financial support in place. From a business attraction standpoint and for specific reasons, LCIC is going to focus on veterans’ groups and international trade development.  With the ongoing wars in Iraq and Afghanistan, a large number of veterans are returning to our area with financial support from the federal government to start a business or buy a home.
With the downturn of the real estate market throughout the country, some of the area’s most talented real estate developers have turned their efforts into developing other products in other countries. LCIC wants to ensure that there is a very streamlined and predictable approach to foster these new opportunities.
In 2008,  LCIC and its partners brought more than $10 million into the community from state and federal sources in the form of grants. These grants are being used to create short-term construction jobs and long-term positions in a number of fields. In 2009,  LCIC must do a better job in seeking input from the citizens of Northwest Ohio. It is clear when other successful economies are studied that the most common thread is that the particular system has received and acted on the input from everyone in the community. To implement this concept, LCIC will hold several town hall meetings throughout the county to listen and understand the suggestions from the community.  These suggestions will then be implemented into our economic development strategy.
While goals detailed above provide a path in which LCIC will travel in 2009, there is also an area that will focus on developing the community’s regional standing.  Specifically, LCIC will focus on developing a risk and growth sharing plan for Lucas County. In many communities throughout the country, political subdivisions are coming together to share resources and income.
LCIC believes that when a project is completed in one jurisdiction, revenue from that activity should flow to all of the partners. This concept has many benefits. First, it will eliminate nonproductive discussions and interagency competitiveness in terms of site selection. Instead of a project being developed in a location that benefits a single jurisdiction, a project can be sited in a location that is best for the company, and all of the jurisdictions benefit.  Second, by having a successful risk and growth sharing plan, we will demonstrate to the larger region of Northwest Ohio and Southeast Michigan that the parochialism of the past is dead. It is this sense of uniformity of purpose that attracts and retains the best companies and human capital. The only way to overcome the challenges that face the community is with a united front and a clear plan on taking advantage of opportunities that are presented.

Matt Sapara is LCIC interim executive director.

I should have known.  Things just seem to come up when my husband and I attempt to set a plan in motion.  It’s not every time, but it has happened enough that our troubles when planning anything more than five minutes into the future is somewhat of an ongoing joke.
This time it was our 10th anniversary.  We had originally planned to take a family trip to Disney World in celebration, but decided instead to ensure my future job security by working on child No. 3. In passing up Disney World, we took the next logical step and planned a weekend trip to Cleveland.
We scoured the Internet for a nice hotel and picked out our must-do attractions from Cleveland’s Convention and Visitors’ Bureau Web site.  The four of us were so excited to see some dinosaur bones, check out the zoo’s RainForest area, and finally visit the actual house where “A Christmas Story” was filmed.  And then it snowed — a lot.  We stayed home.
Oddly, the weekend we spent snowed in was a fitting reminder of our wedding 10 years prior.  We didn’t quite realize at our rehearsal dinner that the weather forecasts calling for a foot of snow on our special day were more than a slight hint of things to come.  After all, we were young and somewhat self-centered and didn’t think much of elemental forces being able to have an effect on us and our plans.
Affect us they did.  The next day, aka our first wedding day, roads closed, businesses closed, and, essentially, our wedding closed before it even opened.  Mike, my dear husband-to-be, was the only one to even make it to the actual wedding location. Having to resign myself to staying put at my parents’ house, it felt like forever before he finally pulled into the driveway after his long haul back from what must have been one lonely trip to the altar.
During the six days of uncertainty leading up to what would become our real wedding day, Mike and I experienced our first major marital (well, almost) roller coaster ride together.  Due to re-scheduling conflicts, the wedding venue and catering service morphed into my cousins’ house and Olive Garden takeout.  The flowers were a little wilted from the refrigerator, and the cake was a little frosted over from the freezer.  Oh, and it snowed — again.  Yet, the only true disappointment we experienced was getting through that first (non-) wedding weekend knowing we were still not Mr. and Mrs.
All Mike and I really cared about was being married.  We just wanted a simple affair to share the momentous occasion with family and friends.  Why then, I have to wonder, did our simple desire to be husband and wife turn into the literal and figurative blizzard that it did?
I think my answer has come in recognizing that, over the past 10 years, it hasn’t stopped snowing.  The snow has come in the form of ant problems, trips to the ER, four  months of colic, 11 days in the NICU,  broken appliances, leaking windows, a minor car accident and more unexpected bills than we care to remember.  I can now see that what Mike and I experienced in getting married was a preview of exactly what we wanted most:  being married.
Of course, the constant challenges of marriage are not based solely in the negative.  They are just a byproduct of the good that marriage brings.  I look at my children and realize that we have become four people, who surely have more to deal with than two people.  We are lucky enough to have a car and a house.  We have collected more friends and family over the years than we can even count; they all bring with them their own issues along with more love for us than we ever imagined possible.
Not long ago, I was feeling less than appreciative of the metaphorical snow that has followed us for the past 10 years. I grumbled about looking forward to things settling down. Mike looked at me with all seriousness and stated very matter of factly, “This is it, you know. This is just how it is from now on.”
I know.
We are two of the lucky ones.

Shannon Szyperski and her husband Michael are raising two children in Sylvania. E-mail her at   letters@toledofreepress.com.

A new office building is under construction in Downtown Toledo. By Labor Day, United Way will be able to call the structure its new home.
In addition to the jobs the $4.9 million project is generating, the environmental efforts under way to make the building green will help United Way save money and be more responsive to the community.
“It is more critical than ever that we build this new building,” said Bill Kitson, president and CEO of United Way. “Every day we remain in this old building, we are losing money for the community. The quicker we can get in there, the quicker we can become more efficient, the more money we are going to have to help people.”

Workers drill the first hole for the new United Way building.

According to Rudolph|Libbe, the construction of the new United Way building brings with it 200 construction jobs, not including other local jobs resulting from increased local material production. SSOE, along with Rudolph|Libbe and The Collaborative architects, are donating the time and money necessary to obtain Leadership in Energy and Environmental Design certification (LEED). The fee just to apply for certification is $500.
While this project has not directly created jobs at SSOE, the design for the new facility is being completed by the staff in its Downtown Toledo offices, according to SSOE president and CEO Tony Damon. Beyond the revenue impact of this project, the company values the opportunity to be part of a significant building effort in the Downtown area — not far from SSOE’s headquarters, he said.
“For SSOE, the United Way project’s economic impact is not measured only in SSOE jobs, but also in the part we played in creating a structure that will be an example of how a sustainable building can generate community growth and economic well-being while minimizing the impact on the environment.”
The green efforts being taken include orientation of the building for daylight harvesting; high-efficiency walls, roof and glass; recycled materials used in construction; 75 percent of construction-waste material to be recycled; low-flow plumbing fixtures, waterless urinals; high efficiency lights and ballasts; a white roof to reduce solar heat gain; and 4 and one-half inches of rigid insulation for the roof.
Additionally, the building will include sensors that turn off lights when they’re not needed; the new building will not create light pollution with floodlights and all woods products are coming from certified environmentally managed forests.
“Designing buildings to be energy-efficient and respecting the environment are all things that we as architects have a professional responsibility to present to our clients,” said Dan Tabor, architect and partner at The Collaborative. “We felt so strongly about this approach that we at The Collaborative Inc., along with our team from Rudolph|Libbe and SSOE are donating our time and expenses toward the LEED certification process as part of the project. This is our gift to United Way of Greater Toledo and what it represents.”
Gary F. Haas, vice president, contracts administration and labor relations at Rudolph|Libbe, said this is the first project in the area being completed, designed and built using Building Information Modeling (BIM). BIM utilizes 3-D imaging and saves on cost, time and paper.
Haas said the project’s challenges include the small site; its location on a main thoroughfare in Downtown; construction starting in the winter; and the aggressive schedule.
“We were proud to build the first building, and we are equally proud to build the new one. There have been many advances in energy-efficient and environmentally friendly construction materials and technology since the first building was constructed. This new building is the right thing to do for the environment.”
United Way unveiled its plan for a new building in August and immediately faced opposition from those who wanted to preserve the 40-year-old building.
The new office is being built on the employee parking lot at the southwest corner of Jackson and Superior streets. Kitson said the current building will be closed when the new structure is completed, although a timetable for its demolition has not been set.
“We continue to meet about what happens to this building; we continue with our ultimate plans that we think this building will come down, but we are not prepared to say today on this date this is what will happen,” he said.
Kitson said moving is imperative because United Way no longer wants to be a landlord to other nonprofits. United Way is losing money because of the low tenant occupancy, and it is estimated the aging building needs millions of dollars in repairs.
“It is our intention to close the building when we move, so we have informed the tenants that this fall there will be a closing date and to be prepared for it,” Kitson said.
The 11 remaining tenants were given a portion of $25,000, which was originally intended for them to put toward working with professional real estate firms, who have since offered to perform that service for free.
“The cost of the new building does not come from the annual campaign; those are two entirely separate issues and in fact, if there is a little bit of a silver lining, it is a good time to build a building,” Kitson said. “The costs we had going in continue to drop for what a new building will cost us … lo and behold, it is the perfect time to be borrowing.”

Given the economic environment, 2009 will hold challenges for the charities hosting special events and the businesses supporting them. How can nonprofit organizations make galas, dinners and other events cost-efficient yet truly special? How should a business decide which fundraisers to support when its philanthropic budget has decreased by 25 to 30 percent?
Do It Yourself (DIY) fundraising is the answer. Rather than filling sponsor tables of 10 at a charity gala, businesses can turn one of their regular events into a fundraising event for a charity. An annual business celebration such as a dinner, picnic or golf outing can add opportunities to raise funds. These events, known as third-party fundraisers, are becoming increasingly accepted by nonprofit organizations with good reason. These events cost a nonprofit organization little to nothing, so the funds received from the business can go directly to programs versus paying catering, floral and entertainment invoices. Business managers already included the basic event costs in their annual budget. So there is very little additional cost for the business to turn its annual event into an opportunity to support a favorite cause.
Creating a DIY fundraiser also gives the business ownership of the event. The hosting business becomes the lead sponsor, and vendors and associate businesses become supporting sponsors. The hosting business chooses whom to invite to the event, perhaps including employees, family members, customers and vendors. Business philanthropy is powerful in presenting an image in the community of goodwill, care and support, but one of the most important aspects of business philanthropy is often overlooked: loyalty.
“Customers with a favorable impression of a company’s philanthropy are three times more likely to be loyal customers than those who have less favorable perceptions about a company’s philanthropic efforts,” according to the National Benchmark Study on Measuring the Value of Corporate Philanthropy (Walker Information and Council on Foundations, 2002). In hard economic times, inviting customers to celebrate with a business while highlighting its philanthropic investment into a community may help maintain the relationship when tempted to try a new vendor because they are cheaper.
Employees also become more loyal to a company when they are made aware of their company’s community investment. The National Benchmark Study also reveals that employees with a positive view of their company’s philanthropic investments are four times more likely to be truly loyal employees than those who do not. In times when companies are increasingly forced to demand more of their employees, company-wide celebrations certainly can boost morale.  However, combining these events with a purpose or a cause that clearly reveals the impact the company has in the community also can increase employees’ fidelity.
Businesses interested in third-party fundraising should always approach the charity of choice at the beginning of the project. The nonprofit organization may have helpful advice on how to make the event profitable, and it will need to make a decision if it is a good match for its mission as well. Many charities will require a contract if you are planning to use their name in association with the event. While it is a good idea to expect no assistance from the charity, it might be able to offer volunteer help, signage, brochures, a speaker or entertainment for a third-party fundraising event.
Do It Yourself or third-party fundraising is an increasingly popular way for businesses to offer financial support to charities with the charity having no fiduciary responsibility and little to no staff involvement.

Christine Senack is a Toledo-based consultant helping nonprofit organizations and businesses work smarter together for the greater good of the community. Connect with her on www.facebook.com or follow her at www.twitter.com.

The couple will write weekly travel columns for Toledo Free Press starting Jan. 25. They have been writing a weekly Sunday travel column for The Blade since 1983.

Holliday and Fischersince 1983.

Holliday, born in Worcestershire, England in 1939, met his wife Fischer in Germany in 1974.
“We’ve been traveling, both as a couple and independently, since the 1950s. That’s a very long time,” Holliday said.
Fischer, born in Jackson, Mich., in 1943, taught multi-handicapped students in public schools from 1981 to 1991. She worked as a speech pathologist from 1976 to 1981.
From 1968 to 1983, Holliday worked for Owens Corning in marketing and public relations, as well as three years in Brussels. He operated a public relations consultancy from 1983 to 1993.
From 1979 to 2000, they taught “Foreign Travel: An Independent Approach” in the continuing education department at BGSU.
They lead and organize small group tours all around the world including South Africa, Australia, Canada and Europe.
Fischer graduated from BGSU in 1976 with a bachelor’s in speech and language pathology.
Holliday, who graduated from BGSU in 1968 with a B.A. in journalism, said everywhere they travel to is a new excitement.
“We usually say the one [place] that stands out is the last one we were at,” he said.
He said South Africa is still one of the most exciting countries.
“Because it’s an exciting place to visit and all the animals and different cultural aspects,” he said.
Other exciting places, he said, were Australia, Amsterdam, London and Paris. If Fischer had the chance to go anywhere again, she would choose another place: “I would go straight to Italy. If that didn’t work I’d go to France,” she said.
The couple will continue to write about how to be a better traveler, country profiles, packing tips, importance of research and different how-to tips.
“We write about destinations, things we’re actually doing, and mistakes we make so other people don’t make them,” Holliday said. They also write about local areas.
Although with many adventures, stories and mishaps they encountered throughout their traveling, they said one incident especially stands out. On a trip to Oslo, Norway, the couple and their group took their electronic equipment.
“We plugged in everything, and the lights blew up and we hid,” Holliday said.
They are both excited to continue their column.
“So many people who have been reading our column for many years were disappointed that we will no longer be appearing in The Blade.  It was very gratifying to hear from many of them and now we’re happy to pass along the good news that our column will appear in TFP. We’ve been corresponding with readers for a long time,”  Holliday said. “It will be great to carry on the tradition of writing for NW Ohio.”

During its 14 years, the 20 North Gallery’s annual Black History Month exhibit has become one of the local arts scene’s most highly regarded and anticipated events. The exhibit, along with other events such as the Toledo Museum of Art’s annual Juneteenth show, has become an integral part of the city’s celebration of history and time-honored tradition.
This year’s exhibit will feature renowned Dayton artist Willis “Bing” Davis. Davis, a professor emeritus at Central State University, has also served as the director of the Paul Robeson Cultural and Performing Arts Center and as an artist-in residence at the School of Education. In 2000, he received an honorary doctorate of human letters from Adrian College.
He has also previously served as the president of the Board of Directors of the National Conference of Artists.
His numerous private collections include those of Dr. and Mrs. William H. “Bill” Cosby Jr.; former President and Mrs. George H.W. Bush Sr.; Johnnie L. Cochran, Jr., Esq.; former South Africa President Nelson R. Mandela; former U.S. Senator John H. Glenn Jr.; and former U.S. Senator Elizabeth Dole.
“It’s been a while since I’ve last been in Toledo, but I always make it a point to visit 20 North Gallery when I’m in town. I so enjoyed my last exhibit there, and it’s always great to see the high quality of artists who show with the gallery,” Davis said.
The exhibit will also feature original works by Toledo artists Aaron S. Bivins, Wil Clay, Charles T. Gabriel Jr., Wade Harrison, Marcus Nunn, Merv Russell, Ramon R. Tiggs and John Wade III from Fort Wayne, Ind.
“I was first inspired to create this exhibit because I wanted to help show the importance of equality, particularly in the Midwest. It has helped grow our connection with the community, which is the main reason we’ve been proud to keep it going all these years,” said Gallery Artistic Director Peggy Grant.
The exhibit will open Jan. 30, and will run through March 1.

Vehicle displayed at International Auto Show

The HP2g vehicle, developed by Horse Power Sales in Napoleon, is displayed at the North American International Auto Show in Detroit’s Cobo Center. The show ends Jan. 25. The HP2g is an alternative energy version of a 1987 Ford Mustang that runs on E-85 ethanol fuel and gets up to 110 miles per gallon, according to inventor Douglas Palmear.
“I have developed a revolutionary alternative energy solution that will reduce our reliance on foreign oil and keep our environment clean,” said Palmear, who cites years of working on engines with his late father in developing the vehicle.  The HP2g is equipped with a V8 engine with 400 horsepower and 500 foot pounds of torque that was assembled in America with American auto parts made by American workers, according to Palmear.
The mileage performance verification was determined in a cross country road test when Palmear drove the HP2g in a 4,000-mile round trip from Toledo to Las Vegas to attend the 2008 Specialty Equipment Marketing Association Show in October.

Owens takes 200 to auto show
More than 200 high school students from Northwest Ohio explored careers within the automotive industry with a visit to General Motors headquarters and the North American International Auto Show in Detroit.
The high school students from Penta Career Center, Start, Woodward and Whitmer high schools attended the GM/North American International Auto Show Education Day on a charter bus trip sponsored by Owen Community College.
The Jan. 21 trip was part of the college’s Automotive Service Educational Program sponsored in partnership with GM. The students visited GM’s Renaissance Center in the morning, meeting with executives and service managers about career opportunities in the auto industry. In the afternoon, they attended the International Auto Show with more than 700 vehicles on display at Detroit’s Cobo Center.
The annual Automotive Education Day is supported through a federal grant designed to create educational learning opportunities for students.
“It’s a great opportunity for high school students to be exposed to educational opportunities and career choices in the automotive field,” said Tracy Campbell, chairman of transportation technologies at Owens.

If you listen to our radio spots, you are well aware of the stream of fraud cases that have come out recently. Most notably is former NASDAQ chairman Bernard Madoff’s Ponzi scheme that may have cost investors as much as $50 billion.
Then there’s the case involving Marcus Schrenker, an Indiana investment manager who faked his own suicide when he parachuted from his plane that crashed in Florida. Sarasota, Fla.-based hedge fund manager Arthur Nadel, who reportedly owed $50 million to investors, also disappeared. His car was found at the airport after he had apparently threatened to kill himself. Finally, lest we forget Sam Israel, the hedge fund manager who was convicted this summer of stealing $450 million from investors, only to fake his suicide. If you recall, Israel left his car on a bridge in upstate New York, along with a suicide note and then went on the run, only to be found three weeks later.
Relatively speaking, losses aren’t nearly as bad as fraud. When investors suffer losses, they can generally recover, given enough time and the right advice. In cases of fraud, more often than not, investors are left with nothing and are forced to completely start over. And while many brokers are members of an insurance agency called Securities Investor Protection Corporation (SIPC), which provides limited coverage against fraud and theft, not all securities professionals are members. What’s worse, if a so-called professional is willing to steal client money, is it too much to think he or she would falsely claim SIPC membership? Investors need to know how to protect themselves from cases of fraud. To help investors recognize potential wrongdoing, we’ve compiled a short list of red flags that should sound the alarm that all may not be right. They are as follows:
• Lack of transparency. This is most common among hedge funds. Examples include a financial adviser not periodically sending confirmations or statements, being hard to reach or delaying account redemptions for longer than a few days.
• Returns that are too consistent. In the Madoff case, investors were told they were earning 8 percent a year, regardless of market conditions. This simply isn’t possible. While a fund manager may average 8 percent, or even more, over several years, seeing the same returns year after year ought to be cause for second thoughts.

• Ability to get physical possession of funds, other than for fees. In all the cases listed, investment managers had direct physical possession of client assets, or could easily obtain possession. Investors are better protected when advisers use an independent third party as a custodian, as is the case with mutual funds.
Dock David Treece is a stockbroker licensed with FINRA. He works for Treece Financial Services Corp., www.TreeceInvestments.com. The above information is the express opinion of Dock David Treece and should not be used without outside verification.