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Bvs] 00ESS & CAPE GAZETTE, Friday, June 4 - June 10, 2004 - 33 REAL ESTATE Destination Delaware boosts tourism industry By Jennifer Robinson According to the "Delaware Tourism Satellite Account Re- port," 12 million visitors produce $1.6 billion in tourism sales a year in Delaware. There are more than 100 restaurants in Sussex County alone and more than 5 million people travel to Sussex County each year. The result of overnight tourism visits to the Sussex Coun- ty area is $344,831,400. A state-appointed tourism com- mittee assigned to assess the in- dustry, decided employee training was necessary in such an impor- tant facet of the local economy. ,It's not just customer service," said Destination Delaware in- strnctor Neva D. Anton. "There is a large focus on Delaware as a tourism destination. We are really pushing the fact that Delaware is unlike any other state. It is only Destination Delaware is a state-certified training course for the tourism industry. The training includes three lev. Level I is an entry-level course and is designed for anyone. For those in positions of authority, the course only serves as a:  refresher. The Level I course is $60 and has a total of 10 hours : classroom time. The 10 hours is reached by breaking the : training into three different sessions. Upon graduation from each course level, trainees will receive a pin signifying their accomplishment. Shown is AmericInn Hotels of Delaware Di, rector of Corporate Operations Glyn Alexander, reviewing his investigative take-home assignment on the Brandywine Zoo. 96 miles from tip to tip of Delaware; therefore, those in the training learn numerous aspects of the area in order to sell the entire state." Because the tourism industry in Delaware grosses so much in- come, the Delaware Economic Development Office (DEDO) de- cided to introduce the Destination Delaware program. Destination Delaware is a state-certified train- ing course for the tourism indus- try. The program is composed of three different levels. Level I of the program is open to everyone. It focuses on guest relations, fitting into the success of the tourism industry, advancing communication skills and under- standing the Delaware tourism in- dustry. Level II of the program is de- signed for those who work most closely with customers. It is based upon increasing Delaware areaknowledge, predicting guest requests and thus by surpassing customer anticipation. Level III of the program is geared toward those who interact with guests regularly. This level Neva D. Anton is curently the only trainer for the Destina- tion Delaware program. By fail 2004, other qualified trainers will be brought into the program. Adminstrative head of the program Debra Hopkins is aiding Anton during the pilot stages of Level I. "We hope that the cross-selling of the differ- ent amenities in Delaware will add to the tourists visit in a positive way. And hopefully they will return," said Hopkins. Shown are (l-r) Hopkins, left, and Anton. I I centers around using area re- sources and neighborhood assets to better accommodate the guest. Upon completing each level, trainees receive a certificate of completion as well as a lapel pin for their achievements. "What we're finding in these first few training sessions is that everybody wishes to advance to Level II because they are learning so much about Delaware," said Anton. Those enrolled in the courses for Destination Delaware will leave the program with the proper tools it takes to provide excellent customer service as well as gain a broader knowledge of Delaware and what exactly it has to offer. Currently, there is only one trainer for the courses: Anton of Anton Associates. Anton has more than 20 years of business management, marketing, public relations, human resources devel- opment and fundraising experi- ence. "Its not that it's a first in the United States because others are doing things like it, but ours is more in depth. Trainees learn cus- tomer service as well as individ- ual details of the state," said An- ton. In addition, Anton serves as president for the Art Therapy Ex- press. The Art Therapy Express is a nonprofit organization commit- ted to offering art therapy to im- paired children. Art Therapy Ex- Continued on page 40 Key to understanding Wall Street is drowning out noise Recently returning from a two- week trip and spending the re- quired Sunday afternoon sorting through the mail, I was struck by the size of one particular pile. Next to the bills, of course, the in- vitations to subscribe to invest- ment newsletters ran a very close second. The come-on "gotcha" lines were pretty much the same, usual- ly something like, "We've made our clients 200 percent in just six months;" or 'q'he profits just keep coming in both Bear and Bull markets;" and my personal fa- vorite, "Our subscribers gained over 6,000 percent in the last 20 minutes." Wow, it must really be easy to become rich as an in- vestor; all one needs to do is pur- chase the newsletters and follow the simple instructions. They are pretty much like the instructions for putting together toys on Christmas Eve. Consider arecent study that ap- peared in the "Economist" which reported .that the average Equity mutual fund produced a 9.6 per- FINANCIAL FOCUS John Boraski cent annual return for the years 1984 through 2000, while the av- erage equity mutual fund "in- vestor" only earned approximate- ly 2.7 percent during the same pe- riod (almost 7 percent less). OK; it's not easy. The pros pro- duced around I0 percent annually over the last 70 years, give or take a disaster or two, so what's up with those newsletter claims? Well, it's just noise. The same noise that,s geared to get you to the slots, or Vegas. They only need to get you in the house, be- cause the house always wins. Wall Street makes lots of noise because they win in both up or down mar- kets. You pay the toll going both ways on that bridge. Another good lesson from the 'Economist" article is that too much "churning" by the profes- sional, or "tinkering" by the do-it- yourself investor (really big buy- ers of the newsletters) is responsi- ble for a significant amount of loss in investment portfolios. My personal experience with institutional investors (pension plans) is that it is also very impor- tant to avoid fees wherever possi- ble. The nickel and dime fees found in each transaction, in mu- tual funds, account churning and in many annuities really add up and reduce return. They normally employ advisers, rarely brokers, and pay a fee rather than a com- mission. A number of them retain an adviser for an annual fee re- view or secondopiniou. It's some- thing I believe everyone should do. Tell the adviser up front that you only wish them to critique your financial or investment plan, not sell you something. Pay them an annual or hourly fee. When choosing an adviser, an- other important point you must consider is just what are they? The SEC (Security Exchange Com- mission) is again revisiting the role of the adviser. Should they be, and act as fiduciaries? The definition of a fiduciary refers to the "holding of something in trust" - your money. An adviser is "one who provides counsel and guidance." Does either definition sound like the "salesman of the month?" or "Million Dollar Presi- dent's Club member?" So how do you pick an adviser? Here are a few suggestions: Don't be persuaded by the bombardment of advertising from the large firms. They didn't get that big saving you money. Always check professional records for any complaints or vio- lations. Form ADV is required for investment adviser, and CRD numbers for brokers. It is good to check with state insurance depart- ments. Meet the candidates. Impor- taot decisions are not well made on the phone. Insist that all costs be dis- closed, i.e., fees, loads, 12(b)l, mortality, expense ratio, etc. Never purchase a product as a way to obtain financial or invest- ment advice. Advice should be in- dependent of any product. Profes- sionals should be judged on the quality of their advice, not on their skill at closing a sale. Most advisers can provide a ba- sic financial plan. Think of it as an annual physical. If you choose to retain the adviser on a full time basis as an investment manager, make sure they provide you with a personal investment policy state- ment. Both the statement and the plan are your road map through all the traffic and noise. Editor's note: John Boraski is a registered investment adviser and elder planner in Rehoboth Beach and can be reached at 227-6850, Bvs] 00ESS & CAPE GAZETTE, Friday, June 4 - June 10, 2004 - 33 REAL ESTATE Destination Delaware boosts tourism industry By Jennifer Robinson According to the "Delaware Tourism Satellite Account Re- port," 12 million visitors produce $1.6 billion in tourism sales a year in Delaware. There are more than 100 restaurants in Sussex County alone and more than 5 million people travel to Sussex County each year. The result of overnight tourism visits to the Sussex Coun- ty area is $344,831,400. A state-appointed tourism com- mittee assigned to assess the in- dustry, decided employee training was necessary in such an impor- tant facet of the local economy. ,It's not just customer service," said Destination Delaware in- strnctor Neva D. Anton. "There is a large focus on Delaware as a tourism destination. We are really pushing the fact that Delaware is unlike any other state. It is only Destination Delaware is a state-certified training course for the tourism industry. The training includes three lev. Level I is an entry-level course and is designed for anyone. For those in positions of authority, the course only serves as a:  refresher. The Level I course is $60 and has a total of 10 hours : classroom time. The 10 hours is reached by breaking the : training into three different sessions. Upon graduation from each course level, trainees will receive a pin signifying their accomplishment. Shown is AmericInn Hotels of Delaware Di, rector of Corporate Operations Glyn Alexander, reviewing his investigative take-home assignment on the Brandywine Zoo. 96 miles from tip to tip of Delaware; therefore, those in the training learn numerous aspects of the area in order to sell the entire state." Because the tourism industry in Delaware grosses so much in- come, the Delaware Economic Development Office (DEDO) de- cided to introduce the Destination Delaware program. Destination Delaware is a state-certified train- ing course for the tourism indus- try. The program is composed of three different levels. Level I of the program is open to everyone. It focuses on guest relations, fitting into the success of the tourism industry, advancing communication skills and under- standing the Delaware tourism in- dustry. Level II of the program is de- signed for those who work most closely with customers. It is based upon increasing Delaware areaknowledge, predicting guest requests and thus by surpassing customer anticipation. Level III of the program is geared toward those who interact with guests regularly. This level Neva D. Anton is curently the only trainer for the Destina- tion Delaware program. By fail 2004, other qualified trainers will be brought into the program. Adminstrative head of the program Debra Hopkins is aiding Anton during the pilot stages of Level I. "We hope that the cross-selling of the differ- ent amenities in Delaware will add to the tourists visit in a positive way. And hopefully they will return," said Hopkins. Shown are (l-r) Hopkins, left, and Anton. I I centers around using area re- sources and neighborhood assets to better accommodate the guest. Upon completing each level, trainees receive a certificate of completion as well as a lapel pin for their achievements. "What we're finding in these first few training sessions is that everybody wishes to advance to Level II because they are learning so much about Delaware," said Anton. Those enrolled in the courses for Destination Delaware will leave the program with the proper tools it takes to provide excellent customer service as well as gain a broader knowledge of Delaware and what exactly it has to offer. Currently, there is only one trainer for the courses: Anton of Anton Associates. Anton has more than 20 years of business management, marketing, public relations, human resources devel- opment and fundraising experi- ence. "Its not that it's a first in the United States because others are doing things like it, but ours is more in depth. Trainees learn cus- tomer service as well as individ- ual details of the state," said An- ton. In addition, Anton serves as president for the Art Therapy Ex- press. The Art Therapy Express is a nonprofit organization commit- ted to offering art therapy to im- paired children. Art Therapy Ex- Continued on page 40 Key to understanding Wall Street is drowning out noise Recently returning from a two- week trip and spending the re- quired Sunday afternoon sorting through the mail, I was struck by the size of one particular pile. Next to the bills, of course, the in- vitations to subscribe to invest- ment newsletters ran a very close second. The come-on "gotcha" lines were pretty much the same, usual- ly something like, "We've made our clients 200 percent in just six months;" or 'q'he profits just keep coming in both Bear and Bull markets;" and my personal fa- vorite, "Our subscribers gained over 6,000 percent in the last 20 minutes." Wow, it must really be easy to become rich as an in- vestor; all one needs to do is pur- chase the newsletters and follow the simple instructions. They are pretty much like the instructions for putting together toys on Christmas Eve. Consider arecent study that ap- peared in the "Economist" which reported .that the average Equity mutual fund produced a 9.6 per- FINANCIAL FOCUS John Boraski cent annual return for the years 1984 through 2000, while the av- erage equity mutual fund "in- vestor" only earned approximate- ly 2.7 percent during the same pe- riod (almost 7 percent less). OK; it's not easy. The pros pro- duced around I0 percent annually over the last 70 years, give or take a disaster or two, so what's up with those newsletter claims? Well, it's just noise. The same noise that,s geared to get you to the slots, or Vegas. They only need to get you in the house, be- cause the house always wins. Wall Street makes lots of noise because they win in both up or down mar- kets. You pay the toll going both ways on that bridge. Another good lesson from the 'Economist" article is that too much "churning" by the profes- sional, or "tinkering" by the do-it- yourself investor (really big buy- ers of the newsletters) is responsi- ble for a significant amount of loss in investment portfolios. My personal experience with institutional investors (pension plans) is that it is also very impor- tant to avoid fees wherever possi- ble. The nickel and dime fees found in each transaction, in mu- tual funds, account churning and in many annuities really add up and reduce return. They normally employ advisers, rarely brokers, and pay a fee rather than a com- mission. A number of them retain an adviser for an annual fee re- view or secondopiniou. It's some- thing I believe everyone should do. Tell the adviser up front that you only wish them to critique your financial or investment plan, not sell you something. Pay them an annual or hourly fee. When choosing an adviser, an- other important point you must consider is just what are they? The SEC (Security Exchange Com- mission) is again revisiting the role of the adviser. Should they be, and act as fiduciaries? The definition of a fiduciary refers to the "holding of something in trust" - your money. An adviser is "one who provides counsel and guidance." Does either definition sound like the "salesman of the month?" or "Million Dollar Presi- dent's Club member?" So how do you pick an adviser? Here are a few suggestions: Don't be persuaded by the bombardment of advertising from the large firms. They didn't get that big saving you money. Always check professional records for any complaints or vio- lations. Form ADV is required for investment adviser, and CRD numbers for brokers. It is good to check with state insurance depart- ments. Meet the candidates. Impor- taot decisions are not well made on the phone. Insist that all costs be dis- closed, i.e., fees, loads, 12(b)l, mortality, expense ratio, etc. Never purchase a product as a way to obtain financial or invest- ment advice. Advice should be in- dependent of any product. Profes- sionals should be judged on the quality of their advice, not on their skill at closing a sale. Most advisers can provide a ba- sic financial plan. Think of it as an annual physical. If you choose to retain the adviser on a full time basis as an investment manager, make sure they provide you with a personal investment policy state- ment. Both the statement and the plan are your road map through all the traffic and noise. Editor's note: John Boraski is a registered investment adviser and elder planner in Rehoboth Beach and can be reached at 227-6850,