FH Myers Construction Corporation

	520 Commerce Pt. Harahan, LA 70123 Phone: 504.734.1073 \| Fax: 504.734.1099

News

Mid-year - 2008, finds us well into an election for the Presidential leader of our country. Depending on the timing of our company's third-quarter newsletter, this could be my last opportunity to discuss our options. The Democratic candidate, Barack Obama, and the Republican candidate, John McCain, appear to have been solidified as their party's nominees. How did we get here? Name recognition on the part of John McCain and a new articulate speaker with a message of change. Whatever happened to qualifications?

Now that we are here, we need to look past the individuals and analyze what they stand for, or their philosophical principles that got them where they are today. The intention of my analysis is not to "persuade," "influence," or "sway" your choice for President of the United States, but to cause you to analyze the real "philosophical principles" of each nominee.

On one side, we have a movement for change. His message to Americans is that universal healthcare is a right of everyone. Homeownerships and bad mortgage decisions made five years ago are now the responsibility of those who opted for higher interest rates to avoid the current calamity. Our commitments to other countries should be compromised and/or withdrawn because it is getting difficult to stand up for the decisions that were made years ago. Corporations and personal wealth should be shared, at a greater level, to those less fortunate. The rewards for personal sacrifices and hard work should be shared by all, not only those who toiled. These are real changes, but are they the "American way"?

On the other side, the plans and objectives are different. A potential resolution for the mortgage crisis is for government, the lending agency, and the homeowner to work out a re-financing arrangement that will allow all responsible parties to work through this issue. On international front, there is strong support to stand behind our commitments made by previous administrations. This war has been divisive and difficult, just as we were advised at the onset, but we must not abandon our commitment. If this occurs, there will be a long standing effect across the world.

Through the campaign, the business community has been brought to the forefront. Profits are now a bad word. Salaries of top executives should be approved by Washington and the American people instead of the Board of Directors. Therefore, let us increase taxes to allow more government spending and to give to the less fortunate. Allow me for a moment to give you an insight to the corporate world. A real company, an average small business that shares success with its employees on a daily basis, F. H. Myers Construction Corp. First, let us review our benefit package.

Paid Healthcare for all employees (3 - 5% of profits)

Match fund to 401K retirement program for all employees, if they choose to participate (3 - 5% of profits)

Incentive and performance bonuses (10 - 12% of profits)

Paid vacation and holidays (3 - 5% of profits)

These benefits are provided for two reasons. The first is to share our success with our employees, and the second is to compete in the ever shrinking workforce pool, both skilled and unskilled.

After these pre-tax benefits are paid, we are then subject to federal taxes between 33-35% and state taxes of approximately 12%. These funds run our government, provide for programs to protect our country, assist the less fortunate, and hopefully improve this great country we live in. At the end of the day, small businesses have provided 70% of its bottom line profits to the enhancement of our people and to fund government programs, and these numbers are not much different for "big businesses."

There will be a "tipping point" where entrepreneurs and business owners/stockholders say "enough is enough." The return is not worth the risk, and "cash out." The only employer left standing will be the government and without any tax revenue, how long will these jobs last? The free enterprise system works; we do not need government interference.

We have a "choice," much better than some other countries. Please vote November 4, 2008. People are sacrificing their lives to provide you the freedom to do so.