Accounting News and Notes

Those words still resonate in American and indeed world history. Martin Luther King, Jr. spoke these words forty-five years ago today changing forever the face of our country. Mr. King was not only a leader, but also a prophet who spoke words of truth into a country, which deeply needed it at the time. When he announced he “has been to the mountain top and seen the other side,” Martin Luther told to all his vision for a new America, one of which would be united more than separated. America, now more than ever before, embraces her divergent heritages focusing on what attributes that brings us together to be the United States of America.

 Dr. King led America to look beyond the color of a man’s skin focusing on his character instead as the only true determinant of a person’s worth. A Voice of One, Martin Luther King looked to speak out boldly in his convictions, caring more for those he served than that of his own life. Long believing he would suffer the ultimate sacrifice of his own life, Reverend King chose to stand tall for his beliefs. Consistently putting himself in harm’s way, he continued to speak boldly for the words laid on his heart. His speech “I have a dream” will forever echo in the halls of U.S. history leading us to be all that we can be, laying down our biases, and to look to the heart of a person and not their outside.

In naming Senator Joe Biden as his Vice-President, Senator Barak Obama took his foot off the pedal, looked around, and got conservative. Rather than seeking out a running mate of similar ilk and temperament whose ambition, style, and age matched that of his own, he sought out a candidate who would “balance the ticket.” Rather than seek a partner to purse the Whitehouse with whose goals and rhetoric were similar to his own, he sought out an “old hand” who perhaps was as much a part of the old establishment in Washington as Senator Ted Kennedy.

Rather than seek out a fellow change agent, Senator Obama sought out a mainstream Democratic candidate who brings the “old” along with him. From all concerned Senator Joe Biden appears to be an excellent choice for his past service, seniority, and his service on the Hill. However it is this author’s opinion that Senator Obama’s run for the Presidency has gone conservative. Rather than striving to develop a sound platform of his own, Obama has opted to simply add a platform by adding Biden to the ticket. It is widely held that Senator Obama’s race for the White House has “blinked” giving Senator John McCain a clear path to the Presidential office. Stay tuned.

A Voice of One

Accomplishing God’s Special Mission for Your Life
The Second Volume of John Dillard’s Inspiration Series

You alone are uniquely positioned to achieve God’s vision for your life. A God who knows the number of the very hairs on your head has a great purpose only you can accomplish. Learn how one man, Nehemiah, made a difference in the lives of many. Seeking God’s will each and every step of the way, Nehemiah prayerfully seeks to rebuild the walls, which protect the city of Jerusalem and her people.

Nestled deep in the Bible’s Old Testament lived an ordinary man who steps out to accomplish great things in God’s name. Leaving the safety of his position as the cupbearer to the king of Babylon, Nehemiah puts himself into harm’s way exposing himself to enemies who scheme and purpose to see him fail. Overcoming each and every obstacle, Nehemiah’s destiny is to rebuild Jerusalem’s city’s walls that were essential for the nation’s very survival.

The remnant of Israel had been in exile and was beginning to return to the Promised Land only to find the land of their forefathers in disarray. Jerusalem’s city walls lay in ruin exposing her to enemies who would threaten the nation’s very existence. Following the burden God lays on his heart Nehemiah rebuilt the city’s walls in just fifty-two days. Leading the way, Nehemiah asks for assistance from those who can help him the most and prayerfully develops a team unifying them to accomplish a miraculous feat.

Prayerfully, Nehemiah sets out and quietly brings together the whole of the Jewish nation. Finding doomsayers at every turn, Nehemiah overcomes each and every obstacle and builds, brick by brick, the ramparts that will protect the city from her foes. Never deterred in his vision, Nehemiah continues developing a coalition uniting a people giving them leadership and a clear vision and ultimately rededicating the city and its people to God.

Nehemiah never falters and never sways from his mission. God has a special plan for your life and a reward at its end. We serve a God who wants only the best for you and your life. Ask and act boldly to serve and to do great things in God’s name!

“A Voice of One calling: ‘In the desert prepare the way for the LORD;
make straight in the wilderness a highway for our God’”
(Isaiah 40:3)

One World…One Dream

The Olympic Closing Ceremonies were majestic as the world united forgetting their differences and forging ahead in the joint pursuit of togetherness and healthy athletic competition. China did an outstanding job representing itself before the world staging a magnificent Summer Olympics, which were free from substantive controversy and failings. China consistently put its best foot forward in both its Olympic team and it’s hosting of perhaps the world’s grandest stage: the Olympics.

 Although the United States won the overall Olympic count winning 110 versus 100 total medals for the Chinese. However clearly dominant in the Olympics China led the gold medal count winning 51 versus the 36 won by the USA. The Chinese team excelled in the diving and gymnastics competitions leaving predominantly only crumbs and second place finishes for those events. Russian and Great Britain brought up third and fourth place with an overall medal count of 72 and 47 total medals respectively. IOC President Jacques Rogge declared the games a huge success giving credit to those who attended and participated in the games. The flame has now been passed to London, England for next Summer Olympic games to be held there in 2012. Let’s hope the enthusiasm in which good competition was maintained will spill over into the political process of all of the world’s countries helping bring peace and democracy to all.

“Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!” This is the motto frequently used by Randy Pope, the pastor of Perimeter Church in Duluth, GA. An explanation even our children could understand might be “I double dog dare you to try something so cool that you will fail, unless God himself helps you.” Just like the story of Nehemiah in the Old Testament, God calls us to be bold in our faith. Not bold in all things, not our work, not with our spouse, but in our faith alone.

The best definition I have ever heard of being humble or meek is “power under control.” Jesus had all the power in the world but he came to save the world and not to rule over it as many had expected. If you are willing and open, able to be burdened for His tasks, God will lead you to do great things in his name that only you can do. There are many nuances to our lives and exacting circumstances for which you alone will experience. Accordingly it is up to be us to accomplish what he lays on our heart and to hear his words guiding us to move forward. Life’s defining moments for each of us will present unique opportunities that both by past life events and our God given leanings only we can achieve. Be willing to be Jesus hands and feet doing great miracles that are only possible with his help and prompting.  In this way, we can all work to make this world a better place for us all physically and spiritually.

On July 24, 2008, the federal minimum wage rate increases to $6.55 per hour. 

In addition to the increase in the federal minimum wage rate, many states whose wage rates are tied to the federal rate will also see an increase in their minimum wage as of July 24, 2008.  Several other states will continue to have a minimum wage higher than the federal minimum wage. Still other states will have will have NO statutory minimum wage rate or NO wage rate below the federal rate, requiring them to pay employees covered under the FLSA the higher federal minimum wage rate.  Specific state minimum wage rates can be found at: www.dol.gov/esa/minwage/america.htm The federal minimum wage will further increase to $7.25 per hour, effective July 24, 2009. 

For more information, please contact Martha Jane Walker of Paychex, Inc. at 678-699-598

Michael Phelps continues to amaze and excel. Having won eight out of eight possible gold medals in the Beijing Olympics, Michael is in a word…Perfect. Having set even more world records along the way, Michael Phelps continues to dominate and excel at the art of swimming. Mastering his craft, cutting through the water like a fish, Michael leads the way in the number of gold medals won while promising even now to return to the 2012 Olympics to be held in London, England. 

Excellence is not for the weary, the un-committed, or those who are satisified to do good. Whether our acheivements be in the field of swimming, a student, a husband or a wife, or at work, we should strive, regardless of our accomplishments, to greater heights of success still. Most of us might consider resting on our laurels while Micahel Phelps continues to look ahead. Focusing on the future to be won, rather than our past accomplishments, should be our watchword as we seek to go beyond where we ever thought possible. As a result of his achievement it is expected that Michael will soon be the number two endorser, second only to the legend of Tiger Woods. I do not believe we have seem the last of the excelious performance so stay tuned for more action and attainments yet.           

Over the last several decades we have seen the Berlin wall come down, numerous previous communist countries turn toward democracy, NATO (the North Atlantic Treaty Organization) expand, and the establishment of the Euro. We have witnessed as China and Russia alike have made great strides towards joining the world in pursuing peace and joining the world order. Russia has in the past sent forces to Afghanistan and Iraq to spread democracy and fight the Axis of Evil that strives to stand in the way of peace, prosperity, and democracy. No longer an isolationist America has taken the lead in pursuing peace at all cost in all nations and for all peoples. 

However, today is indeed a bleak day. With Russian invading the country of Georgia it has taken steps to act as a rouge state and indicating a lack of respect for world order, the legally established borders of other countries, and the freedom of others to self-govern and to elect their own leaders. Russia has taken a step back from the progress it has made and indeed threatens their standing in the world. 

President Bush continues to call for Russia to remove all of their forces from Georgia and US Secretary of State Condoleezza Rice is in Georgia today to assist in the peace process. All should call on Russia to sign the cease-fire agreement that Georgian President Mikheil Saakashvili has already signed.

The call to freedom will not fail nor will its proponets ever surrender. Peace, the right of a people to self-rule, and democracy are why America herself exists. Bringing the good news of freedom is our God ordained call to our people. Russia should withdraw today so that it might regain some of the respect lost and resume its previous path of peace and world order.

What will the impact of this new law be? Probably a lot. There was some media attention early on about this sweeping bill that President Bush signed last month.  But since then the media has not really focused on it much.  What was the intent of the legislation? Congress had big plans with the stated purpose of not a little thing; only stabilize the residential housing slump, fix the credit markets and help struggling homeowners keep their homes. The law authorizes the Feds to bolster Fannie Mae and Freddie Mac if they need it, juices up FHA loans and it creates a large tax credit for first time homebuyers.  For funding purposes the law also increases the national debt level $800 billion to $10.6 trillion. 

In order to understand the new law’s impact one needs to know a bit of history.   Back in the 60’s the Feds established Fannie Mae and Freddie Mac to help start the secondary mortgage market that in theory makes mortgage rates lower.  Later these agencies were privatized and sold and are now publicly traded companies.  When one considers that there are about $10 trillion in residential mortgages outstanding and that Fannie and Freddie together hold about half of that amount it is easy to understand why this is a big deal.    First it certainly makes government bigger and grants more government control over the housing finance sector.  It is an increase of government activity and control for sure.  But whether or not one likes more government or less it looks like the new law should start to have immediate impact at least in the short term.      

The National Association of Home Builders say on their web site that the first time home buyer tax credit of up to $7,500 will have a significant positive, immediate effect on the housing market.  The New York Times said recently quoting The National Association of Realtors there were some 2.5 million first time homebuyers in 2007.  Apparently most of them would have qualified for the tax break.  How many are there in 2008?  God only knows.  Still the tax credit is a potent incentive. The government’s promise to support Fannie and Freddie certainly adds strength at least in the short term even if one believes that fundamentally it is the wrong way in principal.

 So did Congress and the President do a good thing by creating the law?  I say a conditional maybe.  In the short run it will probably help and accomplish some or much of its intended purposes.  We may even start to see effect before the election.  But all this focus on Fannie and Freddie and the real estate slump gave me pause to reflect and ask what are we really doing with this debt driven housing market?  In principal is it better to have more mortgages on housing or is it better for people to pay their mortgages off and be debt free?  Should the government bail out private companies like Fannie and Freddie?  In the long run do we need increased FHA loan programs, which carry a government guarantee?  In principal I think the answer is no.  When people keep looking to the government to help them it’s not a good thing.  Once you start it is very hard to stop.  We simply need to remind ourselves that we need to look to God to help us, not government. He is an ever-present help in times of trouble!  LORD help us!          

Written by Scott Singletary, who can be reached at 770.310.5019 .

Being an Olympian is much more than showing up and having millions and millions of people watch you live on television. It is much more than a gold medal, representing your country, or the ability to set a world record. The Olympics are much more than the greatest Olympian of all time Michael Phelps winning more gold medals than anyone before along with the potential to smash the previous record with even more accolades yet to come. Hosting the Olympics is a grand opportunity for a country to show its wares and strut in front of a worldwide audience, to which China by all accounts has done an excellent job. The Opening Ceremonies, in fact, were so grand that many have commented about the inability of future host nations to measure up to the new standards established. Being an Olympian is much more than Georgia beating Russia team in volleyball as sports competition for the moment replaced tanks, bullets, and bombs being used by their countries in real life.

The Olympics are a time for the world to come together as one laying down our differences that separate us and to focus on what unites us. Although we come in all sizes, colors, and shapes we are all made the same with doctors of any race or creed having the same DNA or blueprint to take care of our physical self. Olympic athletes are able to accomplish with the strict adherence to dietary issues and long hours of training to teach their bodies and minds to do things most of us have not even thought of and much less, dreamed about. However the Olympics teaches us much more than athletic excellence.

As Believers we are called to a higher standard and a path of Excellence. We are exhorted to do everything we do as if doing it for the glory of God. This means that whether you are a teacher, truck-driver, firemen, white or blue-collar worker, a professional, a son or daughter, or a husband or a wife that we are to do all things for His Glory. To this end we are encouraged to love our enemies, to consider others better than ourselves, and to serve others and not ourselves, while achieving the best that we can be in all aspects of our life. As such whether we are cutting the grass, cooking a meal, doing our homework, serving a client, or performing our work tasks, we are to be our absolute very best, in effect, being an Olympian in all that we do. Therefore put on the breastplate of righteousness and go serving in excellence each and every task you perform all for the glory of our God most high