A FAMILY OF COMPANIES
WATT’S CURRENT WHY WE WORK PAGE 2
ELECTRIC VEHICLES ARE HERE TO STAY PAGE 3
WHAT EXACTLY IS AN ESOP? PAGE 4
Why We Work Recently we had 15-20 field employees show up, on a Saturday morning, to listen to me talk about “why we work.” For two hours we discussed this very important topic. I received some great feedback, and many commented that what they learned is not what they expected. I first established the three main purposes of why we work and also discussed the sequence that they need to be fulfilled.
Table of Contents:
Everyone agreed that first we have to survive. This includes food, clothing and shelter.
Electric Vehicles Are Here to Stay
What is an ESOP?
Protect Your Skin
4th of July Events
You know you’re from AZ when
Jenco’s Business Mission: Build a learning organization by compelling every associate to notice, observe and assess their ethics and capacities to produce Conditions of Satisfaction for all our customers with practical offers that manifest, demonstrate and display the highest of human virtues.
The second purpose of why we work is to be free. The attendees offered many examples of what being free “looked” like to them: freedom to go on vacation, freedom to eat good and healthy food, freedom to retire. That last example, freedom to retire, is the one that seems to escape many Americans today. We must work to earn, save and invest enough money while our bodies are strong, to have enough money to sustain our lifestyles when we retire. According to the IRS most Americans over the age of 62 are not working in the profession they were working in before they turned 62. What this means is people get old, and cannot continue doing what they could have done when they were younger. Think about it. Commercial airline pilots must have perfect vision to fly. What happens when they get older and their sight begins to diminish, but they can’t retire because they don’t have money saved? They must go to work doing something else. When you accept these assertions and then consider another claim of how long the average American will live, you begin to realize statistically you may live 20-30 years after age 62. So the last of the three purposes is to live a great life. I personally do not believe life stops at 62. This means we must work until the age of 62, to enable us to live 20-30 years of old age without our lifestyle being reduced because we do not have enough money to last 20-30 years. Last week all of the JENCO staff was invited to a major Employee Stock Ownership Plan announcement meeting. At this event the staff will discover how JENCO is helping them earn, save and invest enough money to survive, be free and live a good life during their working years and in retirement. If you are an employee I encourage you to make every effort to attend. Looking forward to seeing you all there!
Electric Vehicles Are Here to Stay It wouldn’t be too far off base to say that I am a car nut. I love the classics and old muscle cars. With that being said, I’ve observed the auto industry rapidly changing, and I think it’s safe to say it is forever been changed by electric vehicles. The old days of knowing how to turn a wrench are being replaced by plugging in your car and changing your batteries. Of course with all these changes comes opportunity. At Jenco we choose to embrace change. On a regular basis we discuss and predict how worldwide changes affect our business. As the industry changes we are challenged to embrace and change with it. New technology requires special training and increased knowledge. Part of Jenco’s mission is to “build a learning organization,” engaging every employee in the pursuit of new value for our customers. Have you noticed electric vehicle chargers being installed? A recent report in The Economist indicated that charging stations are still somewhat difficult to find, but this is rapidly changing. Clean technology estimates that fewer than 200,000 EV charging stations were sold in 2012. This is expected to rise to nearly 2.4 million stations by 2020. Many of the largest companies, including Coca-Cola, are among the growing list of companies joining a federal effort to get more charging stations at workplaces. According to the Electric Drive Transportation Association, electric vehicle sales accounted for 3% of total vehicle sales last year, up from 2% in 2011. When looking into adding EV charging to your office or projects, you will want to make sure your installer is properly trained and certified. Old habits are tough to kick. I still plan on enjoying the old classics, but I can’t help but be intrigued and excited about the future of motoring. If you’d like to learn more about EV chargers, please email me and I will get you in touch with one of our certified experts.
What Exactly is an ESOP? If you’ve worked at Jenco over the last two and a half years you’ve probably heard the term ESOP used more than a few times. But what does ESOP stand for and what does it mean to you? ESOP stands for Employee Stock Ownership Plan. In an ESOP, companies provide their employees with stock ownership, which is part of the employees' compensation for work performed. Shares are allocated to employees and may be held in an ESOP trust until the employee retires or leaves the company. As part of the Jenco ESOP, there is no up-front cost to the employees to participate in the stock ownership beyond eligibility and vesting periods. The mechanism that enables the company to make allocations to the employees ESOP accounts is the profits that the company makes. Although Jenco has had an ESOP since January 1, 2010, it had not experienced substantial earnings during that time to be able to fund the program and make distributions to the eligible employees’ accounts. With the recent chain of events that enabled us to finalize our financials for 2012, we were able to make our initial contribution into the ESOP Trust. On July 8th we will be holding a company meeting at the Harkins Theatre at Loop 101 & Scottsdale Road, 7000 E. Mayo Boulevard in Scottsdale, where we will be making a formal announcement of the contribution and hand out the ESOP Account Statements to the eligible employees for the 2012 plan year. We strongly encourage every employee to attend, whether or not you were eligible to participate in the plan for 2012, and bring your spouse. There will be plenty of time for us to answer any questions that you might have concerning the ESOP, and help you understand how this plan will help you with your future. Please RSVP to Jen Meacham firstname.lastname@example.org by June 28th and let us know if your spouse will be attending as well.
Protect Your Skin from the Sun Did you know that over 2 million people are diagnosed with skin cancer annually? Good news is that most skin cancer can actually be prevented. By following the tips below you will be able to reduce your chances of developing skin cancer, and yes ladies wrinkles too.
Avoid sun exposure: The worst time to be out in the sun is from 10 AM until 4 PM because this is when the sunlight is the strongest. If you must be outdoors, try and stay in the shade as much as possible.
Wear protective clothing: Hats, sunglasses, loose fitting clothing that covers your arms and legs and clothing made with sun protective fabric are all a great option to protect your skin.
Wear sunscreen: Use sunscreen that says “broad spectrum” and is SPF 15 or higher. Also, don't forget about your lips! Many lip balms come with SPF 15. Make sure to reapply sunscreen and lip balm throughout the day to avoid getting sunburned.
Summer Recipe Fizzy Punch Ingredients: 4 12-ounce cans of seltzer water 4 cups lemonade 1 cup apple cider 4 kiwis, peeled and sliced 1 cup raspberries 1 cup strawberries 1 cup halved grapes 1 cup blueberries 2 tablespoons chopped mint
In a large punch bowl, combine seltzer water, lemonade and apple cider
Add fruit and mint.
Add ice and your ready to serve!
President’s Report Identifying your lifestyle, career and financial ambition The announcement of the upcoming ESOP meeting triggered me to review my own financial goals and how the ESOP contribution might affect me and my financial ambition. I want to know exactly what part of my financial ambition the ESOP contribution will effect, how it will lower my “capital at work” gaps, how it will be useful in my retirement when I have no further employment income to draw upon and what the future value of this contribution may be worth due to enterprise value of Jenco, the compounding effect of interest on the money invested and so on. I have the means to determine, with relative specificity, the impact of the ESOP contribution to me and my family. I do not have an accounting background or any formal education in investments, annuities or anything like that. What I do have is a strategy. It is an action plan with tactical steps that are part of a series of steps, or actions, in plan to let me achieve my ultimate ambition which is to earn, save and invest enough money to survive, be free and live what I deem as a good life for the rest of my business career, and 30 or more years of retirement. I know what this amount is almost right down to the penny. I know how much it is per year, per quarter, per week, down to an hourly rate. (If you’re interested, I can walk you through the math in about 15 – 20 minutes and would be happy to do so upon request). You may at this point be asking “why is he that concerned with retirement? After all, it will just kind of work itself out, won’t it?” That’s what 78 million baby boomers thought or saw on TV; most of whom are now broke or certainly don’t have enough money to retire. According to a recent article, in 2012 18.6% of those over 65 were participating in the labor force and many older workers are trying to re-enter the workforce. I assert that my income and capital at work gaps equate to knowledge gaps. If I had the knowledge (ability) play the piano like Elton John or Billy Joel I could turn that knowledge (money) into currency for my immediate and long term needs. For me to be able to hold my gaps of knowledge down to an hourly rate helps keep me motivated to always be in a mood of learning. What do I need to learn to make my offers more powerful to my employees, colleagues, partners, customers, and family members? To do this you need a strategy. A sequence of interim steps over long time horizons to reach your ultimate goal, whatever that may be. My strategy contains 12 parts. Twelve parts that build on each other, and nest inside one another to give me the direction, velocity and focus to direct my every movement towards my ultimate ambition that I have shared with you already. Jenco is a huge part of my plan, and we, as in you and I, are a huge part of Jenco. Together we can reach our lifestyle, career and financial ambitions, but first we have to identify what they are and what does “living a good life” mean to each of us. In simple terms, identifying your lifestyle, career and financial ambitions means “what do you want to be when you grow up?” Are you at the beginning of your career or at the end of it? Are you satisfied with your income and your position or do you want to “learn more” to advance? Do you live within your means financially? Do you have a family budget? Are you saving enough for retirement? Do you how much that is for you? (Knowledge gap?) Do you spend enough time with your family? Are you working so hard that you are not taking care of your body, your kids, and your spouse? Do you know what an ESOP is? Are you coming on July 8, 2013 to find out? (Knowledge). Once you know the answers to these questions (gaps) you too may be triggered into action. One of your actions may then be to do your part (continuous learning) to make Jenco the most profitable company on the planet to help us all make the ESOP a big part of our ambition. Thanks for reading…….more to follow.
Business Mission Build a learning organization by compelling every associate to notice, observe and assess their ethics and capacities to produce Conditions of Satisfaction for all our customers with practical offers that manifest, demonstrate and display the highest of human virtues. We give and receive practical offers all the time. Providing our labor and expertise is one practical offer that we make to our employer. Compensation for our labor and expertise is a practical offer that our employer makes to us. Practical offers can also be offers of help such as the opportunity for us to learn new skills. These can be formal offers such as an electrical apprenticeship program. Jenco gives this practical offer to all of the field employees. Offers related to the job are informal and are nested in one another. A General Contractor makes Jenco a practical offer in the form of a contract to complete a project. The Operations Manager gives an offer to a Project Manager and Field Operations Manager to run the project. The Project Manager gives an Assistant Project Manager an offer to assist with the project. The Field Operations Manager gives an offer to a Superintendent and Foreman to build the project. The Foreman gives offers to Journeymen in the form of a work breakdown schedules and the Journeyman makes offers to the Apprentices and Helpers to complete. Our acceptance of these offers gives us a greater chance of receiving future offers. It is easy to see how turning down job related offers can lead to us not receiving future offers. Turning down formal offers, such as an apprenticeship program, can lead to a carrier that becomes stalled.
Bright Ideas For this summer edition, we’ll revisit the most important piece of equipment around the house, your air conditioning unit. Earlier this year we talked about the use of programmable thermostats to control the run times for your system, but this month I’d like to discuss tips to maintain that control when it’s needed most. For many of us, it’s tempting to ignore the cost of keeping the house cold and go with what’s comfortable especially when the valley is hitting triple digits. While cooling is certainly a necessity it is important to maintain our systems and save a few dollars in the process.
Turn off exhaust fans in bathrooms immediately after use. Installing a times switch can help control this for a minimal cost.
Keep lights off unless needed and look for more energy efficient solutions to minimize the addition of unwanted heat to the living spaces.
Add insulating gaskets to switch covers and outlets on your exterior walls. This prevents hot air from entering and your cool air from escaping.
Utilize a “Time of Day” plan with your utility provider. This allows for lower rates on the weeknights and weekends when you’re using off-peak energy. Take care to follow these guidelines as it could end up costing more if the schedule isn’t followed.
Consider using a motionsensing thermostat to reduce usage when the house is empty.
Adjust AC set points to find a perfect balance between comfort and usage. For every degree warmer that you set the stat you’ll save 2% of your cooling cost.
Use ceiling fans to help improve comfort
I hope these ideas help reduce cost and add to your overall enjoyment of the summer!
4th of July Events Independence Day is just around the corner and the Valley has several events planned for the holiday weekend: July 3rd:
Rev, White & Boom: From 6:30 PM– 9:30 PM at Phoenix International Raceway. There will be tours of the raceway, entertainment, food and beverages.
Independence Day: Starts at 6:30 PM at the Estrella Lakeside Amphitheatre in Goodyear. There will be live music, food, activities and fireworks start at 9:15 PM
3rd of July Fireworks: Starts at 6 PM at Harold’s in Cave Creek. There will be live music, outside BBQ, drink specials and prizes. Reservations are required and fireworks begin at 9 PM.
Freedom Wireless Fabulous Phoenix Fourth: From 6 PM– 9:35 PM at Steele Indian School Park. There will be kids rides, scheduled events, food court and fireworks start at 9:15 PM.
Grand Ol’Fashioned Picnic: From 5 PM– 7:30PM at the Scottsdale Stadium. There will be oldfashioned games, arts and crafts, and watermelon, pie, and chili eating contests. You can even bring your homemade chili to be judged.
CBS5 July Fourth Tempe Town Lake Festival: From 4 PM– 11 PM at the Tempe Town Lake. There will be live music, an inflatable village and fireworks. Admission is $6, but 12 and under are free.
Independence Day Celebration and Fireworks Spectacular: Begins at 4 PM at Tumbleweed Park in Chandler. There will be a bike parade, waterslide, rock climbing wall, dunk tank, water games, live music, a kids carnival and fireworks start at 9:30 PM.
For the full list of 4th of July events around the valley click here.
Jenco would like to thank all US military members for their service and dedication to our country. We also want to wish everyone a fun and safe 4th of July!
Bulletin Board Employee Anniversaries Please join us in congratulating the following employees who celebrate an anniversary this month with Jenco. Congrats everyone!!
June Birthdays New Faces
Harry Miller III Charles Stanley Houston Crouse Heath Smith
Joe DeVecchio: 21 years
Jaime Avila-Navarrete: 7 years
Hamlet Lofton: 7 years Brad Trotter: 6 years
Eric Torvie: 5 years
Gilbert Romero: 3 years
Nicholas Adams: 3 years
Daniel Medina: 3 years
John Towle III: 3 years
Adam Botel: 2 years Donavan Warner: 2 years Noe Perez Gomez: 2 years Angel Reyes: 2 years
ESOP Announcement Meeting
Ricky Brinkerhoff: 1 year
Whose Invited: All Jenco employees & their spouses
John Gomez: 1 year
When: Monday, July 8th at 5:30 PM
Mike Manning: 1 year
Where: Harkins Theatre at the 101 and Scottsdale Rd. RSVP: Email Jen Meacham by June 28th
You know you’re from Arizona when...
You no longer associate bridges or rivers with water
You can hear the weather forecast of 115 degrees without flinching
The best parking spot is one with shade– no matter how far they are from the entrance
Hot water comes from both the hot and cold tap
You can actually burn your hand from opening the car door
People in the Midwest have remote starts for in the winter– they are pretty handy here in AZ in the summer!
Sunscreen is sold year round– and you’ll need it
You can properly pronounce saguaro, Tempe, Cholla and Mogollon Rim
It is really possible to cook an egg on they pavement
You are sick of people saying “but it’s a dry heat”
You think pounds of rock make a beautiful yard
You know better to avoid leather car seats, especially with shorts
Stay cool & safe over these next few hot summer months!