The Loss of a Key Employee Can Be Devastating To a Business

Many businesses have Key Employees who are the only people responsible for specific duties, and often these are critical, core functions to the business. Often these employees will also have the only access to certain information that may be needed to perform some of these critical functions and operations.

The impact on the business after the loss of a key employee can be severe and can include but are not limited to the following:

• The distraction of other employees, resulting in missed opportunities and deadlines, deteriorating morale, and internal conflicts

•  The loss of confidence from employees, managers and financial backers of the business and can include both suppliers and customers

•  The business may suffer a weakening of their credit rating.

•  The financial cost (in time and dollars) to find, hire and train a replacement.

•  A need for immediate cash to fulfill promises made to the deceased employee's spouse or family, such as salary continuation or deferred compensation or other incentives promised.

• The business might also fail to capitalize on important business opportunities because cash reserves are being used to recruit and train the new employee(s) or pay out compensation.

Fortunately there are a number of things you can do to mitigate these issues the first of which is consider key employee insurance. Documenting the processes acurately that the Key Employee is responsible for is another.

Shopping Mall May Have Been Intended Target of Terror Attack

In the latest plot to be foiled on U.S. soil the intended target may have been a shopping mall as well as the emergency responders who would have responded to the scene.

According to reports Mehanna who was already out on bail in another case allgedly plotted and planned the logistics of carrying out the attack.

He was also allegedly plotting to carry out attacks against two as now unnamed members of the executive branch of government, but it was stated that they are no longer in office.

The report also states that Mehanna could not obtain the weapons needed to carry out the attack.

Turkey Warns of Possible Hezbollah Attacks against American and Israeli Targets

According to Turkish intelligence reports hezbollah is planning attacks on American and Israeli targets inside Turkey.

The report states that hezbollah is looking to attack Israeli tourists, Israeli vessels and airplanes, as well as synagogues in Turkey, no specific information on American targets were released but citizens are urged to take precautions.

Three cities were mentioned in the report and they are, Istanbul, Ankara and Izmir. Turkish police warned their units in those cities and further stated that hezbollah may have already already scouted the area for attack.

Woman Announces Shopping Spree at Burlington Coat Factory and Causes Riot

Imagine if someone showed up to your business and announced they would purchase items for everyone there. In fact they would be willing to spend $500 for each of your customers.

Sounds like it would be good for you and your customers, doesn't it? Now imagine all of your customers at that location each called five or ten other people and soon your store was filled with 500 people and another 1000 outside waiting to get in. 

The truth is, this really did happen, but it is only the first part of the story and it actually happened. However, the real problem began when the woman left to go to the bank and returned with no money.

After the woman didn't have the money, angry customers began throwing merchandise onto the floor and leaving the store without paying for them. Some people still wanted their "free stuff" and a riot ensued.

The woman Linda Brown, who rented a strech limo and stated she just won the lottery was arrested.

Now I ask you, what is your plan to deal with something like this?

There are a number of other emerging threats out there that are causing problems and potential problems for many businesses. We will be writing about them here in our new "Emerging Threats" category to highlight them and bring attention to them.

Embedded video from CNN Video

Sidekick and Snow Leopard OS...More Reasons You Need To Backup Your Own Data

I have written a number of times throughout the years here on this blog and in other articles about how important it is to backup your critical data.

Recently, especially in the last two years, with services offering to do this back-up for you automatically in the cloud as part of value-added services has caused many people to not take action on backing up their own data.

Two incidents have really highlighted the need to do your own data backups in addition to saving your data with some of these automatic services. One is the T-Mobile Sidekick, in which people using the device have lost their personal and other critical information, and the other, has to do with a flaw in Apples Snow Leopard OS, known as the Snow Leopard Bug, in which all saved data gets wiped out.

I have included links in the reference section that will tell you how to specifically avoid these particular pit-falls. However, I stress just one thing...

BACKUP Your DATA