NOVEMBER/DECEMBER, 1987

ALTA President Marvin BQWling and Wife Ann One-stop shopping for all your title needs.

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A Message from the President-Elect 5

Presidential Profile 6

The Entrepreneurial Edge 11

The Saga of A Modern-Day Noah 15

Accounting, the 1986 Tax Reform Act 20

Somebody's Gotta Cook the Chicken 25

Front Cover: ALTA President Marvin C. Bowling, Jr., and wife Ann share a relaxed moment in their home community of Richmond, Virginia. Shortly before his installation as the Association's eighty-first president, he commented on a variety of subjects in a Title News interview that begins on page 6.

President-Elect Section Representatives, General Counsel Charles 0. Hon, lll Board of Governors James R. Maher The Title Guaranty Joseph D. Gottwald & Trust Co. of California Counties Vice President-Public Chattanooga Title Company Aft'airs Chattanooga, Tennessee South Pasadena, California Gary L. Garrity

ChaLnnan,Finance Thomas A. Griffin Director of Research Committee Mid-South Title Richard W. McCarthy Richard A. Cecchettini Insurance Corporation Director of Government Title Insurance Company Memphis, Tennessee Relations Of Minnesota Robin E. Keeney Minneapolis, Minnesota Parker S. Kennedy Title News is published by First American Title Vice President­ the American Land Title Treasurer Insurance Company Administration Association, 1828 L St., N.W., David R. Porter Santa Ana, California David R. McLaughlin Washington, D.C. 20036. Transamerica Title Herbert Wender Telephone (202) 296-3671. Insurance Company Director of Education Los Angeles, California Commonwealth Land Title And Membership Services Insurance Company Patricia L. Berman ISSN 0040-8190 ChaLnnan, Abstracters and Philadelphia, Pennsylvania Title Insurance Agents Director of Meetings Immediate Past President Editor: Gary L. Garrity Section And Conferences Bill Thurman John R. Cathey Lynn D. Antilety The Bryan County Assistant Editor: Adina Conn Gracy Title Co. Austin, Texas Abstract Company Durant, Oklahoma ChaLnnan, Title Insurance ASSOCIATION OFFICERS Underwriters Section ASSOCIATION STAFF Richard P. Toft President Executive Vice President Chicago Title Insurance Company Marvin C. Bowling, Jr. Michael B. Goodin Chicago, Illinois Lawyers Title Insurance Senior Vice President Corporation William J. McAuliffe, Jr. Richmond, Virginia Because Genesis is honestly the best system. Genesis is the best system for you because Genesis is :

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n the May/June issue of Title News, people would feel the brunt when we count Dick Toft, chairman of the ALTA Title real estate sales persons, mortgage lenders, I Insurance Underwriters Section, men­ surveyors, builders, developers, construction tioned challenges which affect our industry workers, appraisers, carpet makers, furni­ today, and which will continue to do so in ture industry personnel, etc. The list of in­ the future. The message was well received, dustries affected would run into the hun­ and I would like to expand upon it by dis­ dreds. cussing an age-old problem which has af­ Yet, we, as an industry, tend to ignore fected our business for many years. this vital role and allow ourselves to be deni­ Some within our industry appear to be grated without defending ourselves. ashamed of what they do or the product they If we stand up and are counted, if we call sell. Many of us are attorneys, but our prac­ public attention to the great value of our tice of law is limited, if we practice at all. work, if we refuse to knuckle under to un­ Yet, when asked what we do, our answer is justified pressures, and if we educate those often, "I am an attorney," rather than, "I'm in our industry and our clientele as to the in the title insurance business." Maybe this importance of our function, we-and the na­ answer stems from occasional unproved­ tion-will be better served. Congress and and inaccurate-allegations about our indus­ state legislatures will be less likely to enact try profit levels. Rather than provide a legislation without knowledge of or concern needed explanation of the important value of about its impact on us and others. Our asso­ our services, we sheepishly walk away or ciates in the real estate industry will treat change the subject. us as a partner rather than an outsider. I'm proud of our industry and the services Your Association needs your support. A that we perform. Yet, on occasion, I have few cannot fight the battle effectively. More been guilty of turning my back when chal­ members are needed, and more of those lenged on the merits of our industry. The ti­ members must be active in ALTA affairs. tle insurance business probably is the most You don't invest in your business and walk misunderstood of all industries involved in away. So don't invest in ALTA and walk the sale of real property. It is our duty as ti­ away. tle professionals to educate the public con­ The time has come for us to hold our cerning what we do-by all means at our heads high, to defend our industry when disposal. needed, to praise our industry when given Before we convince the public, we must the opportunity, and to stand proudly. be convinced. All of us have heard, and some We are title professionals. And those we of us have experienced, the negative impact serve throughout the nation are the better of the National Football League players for it. strike. What is the result of a strike at Gen­ eral Motors? How many people are affected? What is the effect on the country as a whole? The impact would be far more wide­ spread if the title evidencing industry ceased issuing abstracts, commitments and policies for a period of just one month. Millions of Charles 0. Hon, III Presidential Profile: Marvin C. Bowling, Jr.

n a fine summer day in rural southside Virginia some years ago, 0 Ann Owen watched as an aspiring righthander took the field in a characteristi­ cally spirited baseball game between town teams. She was a student at Longwood Col­ lege; the young pitcher who was to become her husband was an undergraduate at Hamp­ den-Sydney College, seven miles away. In October, 1987, Ann reflected on those times as husband Marvin Bowling prepared to begin his ALTA presidency. "I used to say my main competition was an old bat-a baseball bat," she declared. "Mar­ vin loved to play baseball. I used to think he liked my father more than me because they both were great baseball fans." Ann grew up on a family farm dating back to the 1700s; her grandfather, a state senator, was an early supporter of Longwood College. Marvin was from nearby Burkeville, where his father was a Presbyterian minister for 26 years. While an undergraduate, Marvin began to develop an interest in law school-and a ca­ reer with Lawyers Title Insurance Corpora­ tion. George V. Scott, who became president of Lawyers Title, was from Burkeville and in­ formed the future law student that the com­ pany hired attorneys. "He advised me to take as many real estate law courses as possible," Marvin said. "So I did." After enrolling in law school at Washington and Lee University, Lexington, Virginia, Mar­ vin heeded the suggestion of George Scott, studying such subjects as mortgage law, credi­ tor rights, and even future interests (consid­ ered to be among the more esoteric real prop­ Marvin and Ann Bowling look forward to attending regional and state title conventions. erty subjects offered). He and Ann were

6 married following his second year of law GG: What do you see as the greatest chal­ sify the effort toward educating state insur­ school. By then, she was a first grade teacher lenges facing the title industry as you begin ance departments on what title insurance is­ at a school located in a town nearby. your ALTA presidency? through work by ALTA in conjunction with After the marriage, Ann taught in the public MB: Proper responses to governmental leg­ state title associations. schools for two years until Carlisle, their first islative and regulatory actions. As closers, ti­ GG: There is some disagreement among the child, was born. He is now a supervisor with a tle people are gearing up to comply with fed­ ALTA membership regarding the decision of Richmond home building concern. Rounding eral statutes and IRS regulations related to Association leaders in recent years to hold our out the immediate family are daughter Betty, tax reporting. We still are involved in defend­ Mid-Year Convention in Washington at regu- who resides in Connecticut, a mother of two; ing federal antitrust cases brought by the Fed­ . Jar intervals-to encourage contact between Nancy, an automation systems specialist with eral Trade Commission and private plaintiffs. ALTA member constituents and their respec­ a Richmond bank; and the youngest, Michael, Possible repeal of the McCarran-Ferguson tive senators and representatives. Those with a third year history major at Richmond's Vir­ Act. And, the decision by the Comptroller of contrasting views say their respective con­ ginia Commonwealth University. the Currency-which we are challenging in gressional members have more time to spend After graduation from law school and be­ federal district court- to allow national banks with them during their regular visits to the fore the birth of Carlisle, Marvin pursued his to own title underwriters and agents, which home state. As one who has participated in interest that emerged from the conversation could have a real impact on the way we do these Mid-Year congressional contact exer­ with George Scott, and soon found himself a business. cises, do you feel they are productive? member of the legal department staff at Law­ GG: Title industry leaders have often said MB: I agree that much good lobbying can be yers Title headquarters in Richmond. Work­ the key to effectively dealing with govern­ done in the senator's or representative's ing with the issuance of title policies and bind­ mental issues is in strong, well-organized home state. But I also feel that much can be ers in six states, he began a career as assistant grassroots lobbying. Since title people are lo­ accomplished by a visit to Capitol Hill by a title title officer that saw him advance to his cated in most counties across the nation, the industry constituent. This is particularly true present position as executive vice president­ feeling is that ALTA has the potential forma­ if there is a single issue that the constituent law and corporate affairs. jor political "clout" that would be of vast im­ wishes to bring to the attention of the federal "I have spent most of my career deciding portance in tackling major public issues. What legislator. The fact that the title person has how to insure unusual real estate transactions, is your assessment of the industry's current made a special visit to Washington to consult generally multi-state commercial deals," Mar­ level of lobbying strength? with his senator or representative carries a vin said. MB: What usually happens is that, after an definite emphasis. Along with his duties at Lawyers Title, issue develops, we try to get people in various GG: Veteran Washington observers have Marvin became increasingly active in the states interested, depending on whether their characterized congressional interest in repeal workings of ALTA. Besides service on the senators or representatives serve on commit­ of the McCarran-Ferguson Act and its federal Association Board of Governors and two years tees that are involved. It would be helpful if antitrust immunity for the business of insur­ as Title Insurance Underwriters Section lobbying groups were in place on more of a ance to be greater at present than in recent chairman, his previous responsibilities have general basis. There will be a continuing need years. What do you visualize as the best re­ included the chairmanship of the Indian Land for lobbying in Congress, and in state legisla­ sponse to this situation where the title indus­ Claims Committee and a memorable 12 years tures, to the extent to which we can encour­ try is concerned? on the Title Insurance Forms Committee-10 age state title associations to form lobbying MB: The title insurance business is ex­ as chairman. groups and train people in lobbying techniques tremely local, insuring titles in areas where Marvin, among other duties, has served as is of vital importance to our effectiveness. Be­ searches are performed and policies are is­ Christian Education Committee chairman and sides addressing state legislative matters in sued. Although title underwriters may do Stewardship Committee chairman of the Bon their respective locales, these lobbying groups business on a national basis, the manner of Air Presbyterian Church. In addition, Ann's also would be very helpful when the time came conducting business differs from place to place community activities include work with the for federal legislative action. and is governed by local real estate laws and Bon Air Woman's Club-and in an acclaimed GG: How extensive is the need for an im­ the manner in which real estate investments program of the Richmond Attorneys Auxiliary proved knowledge of lobbying basics at the are made. State governments-through legis­ that introduces sixth and seventh graders to grassroots level in the title industry? latures and state insurance departments-are the American justice system through class­ MB: I have seen various levels of expertise in a much better position to control title insur­ room presentations and visits to local facilities among the states. For example, there are ance activity for the public good than the fed­ such as the court house, police station, and jail. state title associations who are effective­ eral government. Preserving state regulatory Among the Bowling family lineage in Vir­ who have a lot of input into their state legisla­ authority is a matter of critical importance. ginia, one of Marvin's ancestors-Col. Robert tures and insurance departments. Usually, GG: How can ALTA be most effective in the Bowling-was married to a granddaughter of they have a retained lobbyist who may be a battle to maintain state regulatory authority? John Rolfe and Pocahontas, a prominent In­ former legislator or insurance department MB: Many of our state title associations dian princess during the colonial history of the staff member. If a problem arises in those have committees, as well as outside counsel, commonwealth. After the Indian descendant states, these people will jump on it. They will who have important access to insurance regu­ died, Col. Bowling was married again, and know whom to speak with and can rally their lators in their particular. jurisdictions. The Marvin observes that latter-day Bowlings people. Unfortunately, I find that these states ALTA Liaison Committee with the National have been attracted to genealogical research are in the minority. Association of Insurance Commissioners defi­ in an effort to determine which of the wives GG: What do you see as the ALTA role in nitely is a positive force at the national level, was their particular ancestor. improving the situation? but work with individual state regulators must Shortly before installation as ALTA's MB: ALTA can help make a big difference be done on a local basis. Information and ex­ eighty-first president, Marvin responded to a through organization of lobbying education. pertise from the Liaison Committee should wide range of questions from Association Vice There is a great deal that other states can continually be passed on to state title associa­ President-Public Affairs Gary Garrity in this learn from states that now have impressive tions, and ALTA should otherwise provide as­ Title News interview. capability. Also, I think that we need to inten- sistance for their activity in any way possible.

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Firm ------Address ______City ______State __ Zip ___ The 1099 B Express Ltd. 144 East Central Avenue- Pearl River, New York 10965 Top row, left photOgraph shows Marvin with ALTA President­ Elect Charlie Hon, left, and Title Insurance Underwriters Section Chairman Dick Toft, The Title Guaranty & Trust Co. of Chatta­ nooga and Chicago Title Insur­ ance Company, respectively.

Top, at right, Marvin, whose career with Lawyers Title Insurance a comprehensive discussion of modern financing techniques after the Corporation began upon graduation from law school, talks with 1986 Tax Reform Act, which was presented during the 1987 ALTA North Carolina Land Title Association Past President Joe Parker, Mid-Year Convention; from left are ALTA Title Insurance Forms Lawyers Title of North Carolina, Inc. Bottom, at left, Marvin dis­ Committee Chairman Oscar Beasley, First American Title Insurance cusses an underwriting problem at Lawyers Title with John Goode, Company; Robert Mallow, Dreyer and Traub; Eugene Ranney, the company's vice president and general underwriting counsel. In Northwestern Mutual Life Insurance Company; and Forms Commit­ the other photOgraph are Marvin and the panel that he assembled for tee Member Russell Jordan, Lawyers Title.

GG: Support is increasing in Congress for industry. There are many good policy, busi­ which reflects a broadening interpretation the Antitrust Damages Clarification Act ness and legal reasons that indicate the OCC among the courts where title coverage is con­ strongly advocated by ALTA. If the bill is not opinions are incorrect and should be with­ cerned. If this trend continues, it will mean enacted during the present Congress, what do drawn. more restrictive closings-strict identifica­ you see as the appropriate next step by GG: Now that real estate reporting require­ tion of all parties, verification of all documents ALTA? ments for settlement agents have been pub­ that are presented, clearance into cash of all MB: If the bill fails to pass during this ses­ lished by the Internal Revenue Service under evidences of payment that are presented. sion, and if the Federal Trade Commission the Tax Reform Act of 1986, and the so-called That will cause the entire process of transfer­ holds that rating bureaus may not be used to technical corrections bill for the act has ap­ ring land titles to become very burdensome as file rates with state insurance departments peared, what future involvement in this mat­ it is made more secure. unless the departments can show a very in­ ter do you feel may be on the horizon for GG: Are countermeasures within the title in­ tense and rigid regulation of title insurers, a ALTA? dustry proving effective? blow will be dealt to state regulation. Title MB: The ALTA general counsel was very MB: All of the title underwriters have imple­ insurers under those circumstances obviously helpful in assisting IRS in promulgation of its mented claims prevention programs, which would not feel that they have a safe harbor in reporting requirements. He has made and will usually consist of improving the closing pro­ complying with state regulation as a shield continue to make suggestions to IRS for cess to make it more secure, improving title against governmental and private litigation. amending these requirements to more nearly examination procedures to bring greater care Strategy must be developed to help title com­ conform to the way title closings are handled. to the process, and introducing safeguards to panies walk this narrow line. ALTA members will be able to advise him of better detect forgeries. They are making all GG: At this point in time, how do you view problems they encounter as they comply with their employees more aware of the claims the outlook for a favorable resolution of the requirements, so that he can provide IRS problem, and have introduced improvements ALTA's objections to the Office of Comptrol­ with additional suggestions for amendments. to keep preventable claims from occurring. It ler of the Currency opinions that point toward GG: What other major concerns of the title will take some time for the results of this to entry of national banks into business as title industry do you see as priority items as your become known because claims from title in­ underwriters and title agents? ALTA presidency begins? surance policies have a three-to-six-year MB: I believe that ultimately there will be a MB: There is the continued increase in the "tail." resolution of this matter in favor of the title number and size of title insurance claims, continued on page 29

9 Best Wishes For The Holiday Season­ The ALTA Staff Victor The Entrepreneurial Edge

probably wouldn't be here if it weren't for the power of the media. was one I didn't hesitate to do. The same thing occurred with the You do a little television and all of a sudden you receive recogni­ Remington commercial. I tion throughout the world. I've been laboring for some 36 years Many people might think that someone in an ivory tower on Madison now and, for 29 of them, nobody had ever heard of me. I didn't do Avenue sat there with a group of people and said, what are we going to anything differently in the first 29 years, and it's only been in the last do to try to change Remington advertising, to make it different, to seven, since the television commercials started, that people became make it more appealing? Out of this big brain trust carne the idea. aware of Victor Kiarn. As a matter of fact, most of you probably don't That's not how it happened. I have found that, in my life, things that know this, I did a commercial before Remington. happen trigger ideas that are the most meaningful. That's what hap­ That commercial first appeared in 1961. At that time, I was working pened with this commercial. I've been asked by almost everyone I've for a company that was near and dear to the ladies' hearts. It was spoken with how the commercial came about. Here's the story: Playtex, and we made brassieres. We were shooting a brassiere com­ When I became associated with Remington, they had a commercial mercial for a revolutionary new product I had found up in Canada. We with a helicopter carrying a giant shaver, dropping it on a peak in Death changed the design, which still is used today, the Cross Your Heart Bra. Valley. I looked at that commercial and said, "you're selling helicop­ I was the marketing director of girdles and brassieres for that out­ ters." So we changed the commercial. standing company. Now, the president of the company and the execu­ It turned out to be a strict product-sell, showing the shaver. I took it tive vice president were coming, and we were going to shoot the to England. There, the agents had won an award for their version of the commercial. commercial. What showed was a fellow going into a bathroom and In those days, we were not as liberal as we are today. We were not shaving, which wasn't unusual. But in the bathroom with him was a allowed by television code to show a live, breathing human being in a 100-piece symphony orchestra playing Mozart! brassiere on television. The only way we could shoot was to put the bra I said, "That isn't realistic." There was a heated discussion, with a on a static bust form, or to use something called ectoplasm. Ectoplasm break for tea, when somebody asked me, "How does a bloke like you is a method for shooting film which was used in the Invisible Man walk in off the street and buy a company like Remington?" series, where you saw things floating in space. It is accomplished by Now this was back in 1979. At that time, leveraged buyouts were not shooting twice. You shoot a scene, then you shoot a second scene in common knowledge. In fact, they had been unheard of in the UK. At the which you only highlight a particular item, and then you transpose one time it was a creative means of financing an acquisition and, as Mr. film over the other so that it looks like that item is floating in space. Balzac so aptly said, "All fashion ends in excess." What happens is a model puts on a black leotard; and an iridescent Today you see a plethora of financing on a similar basis, sometimes bra, and is shot, and the setting is shot, and the brassiere is transported with and sometimes without the utilization of junk bonds. What is to the scene that had been shot in the first place. happening today, instead of re-creating an entity that can be strong, Well, at the shoot, unfortunately, everybody was there except rather leveraged buyouts are weakening companies and making them less important person-the model. We called the agency but they couldn't competitive in the global environment. locate her. We asked if they had another model. They were all busy. In Finally I asked, "Hey, if you're interested, would the average person the meantime, time is ticking because we were paying for the studio, in Britain be interested? If so, why don't we do that in a commercial?" the director-everything. "Yes," carne the response. I didn't know what to do. All of a sudden I saw the director and the Their idea was to get a football player to do the commercial. producer looking at me. I knew what they were thinking but I didn't Now you sit there and think, well, football in England is soccer. Is he believe it. The next thing I knew I was bundled up in this black leotard going to be believable afterall? Are the people going to think that Kevin (I was a lot thinner in those days). I was a perfect 34-B thanks to a lot of Keegan, the middle forward on the all-English team, walked in off the toilet paper, and we shot the commercial. street and bought this company? The answer of course is, "No." To this day, I don't think that anybody ever knew it was a man So I told them (and I had no idea before that meeting I'd end up in a wearing that bra, even though when I turned around they showed my commercial), "If we do that, there's only one person who can do it­ back strap and how it prevented bra bind. I admired that and, when I me." watched the commercial, I figured I had a great future. They looked at me, then went on to enumerate with a litany of As a matter of fact, that was an entrepreneurial adventure because it "why" I couldn't do it: I was too old, grey-haired, wasn't muscular or

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Let us Sulcusize (Automate) your office for as little as $2.96 a day!! hard. I had to produce more orders-to show more interest than anyone else in the organization. I used to get up for work at 8 o'clock, and leave for home at 8 o'clock. For lunch, I would grab a milkshake on the run and would stop when the last store closed (9 o'clock at night). Then I would have a huge dinner and fall asleep immediately. Now, we had a structured company, who said, every night you fill out your orders, put them in the envelope, drop them in a mailbox and send them in. If I did that I couldn't work that extra hour. I would have to stop at 8 o'clock, so I broke the system. I didn't send in an order until Sunday. I worked six days, including Saturday (when no other salesmen were on the road), and was putting in, on average, 12 to 13 hours a day. That's 78 hours a week. The normal salesman was working 9 to 5 with an hour for lunch, 35 hours a week. My first management position was critical. How could I motivate eight other people? How could I put into their minds that it was important they be successful? Not only for the money, which was foremost in most of their minds, but also for the feeling within themselves they had done a good job. I Chairman Victor Kiam, Remington Products, Inc., addresses the 1987 tried to get them to do the 8 to 9 bit, but obviously that was ALTA Mid-Year Convention. difficult. But I learned a very simplistic philosophy: "Do as I do, not macho enough, I was an American in Britain. And, had I ever acted? Of as I say." course I had my "brassiere experience." And with those eight men, continued that work ethic. Entrepreneur Defined Standard of Living Critical Now we've got the commercial, we've got the company and the I don't need to tell you what happened. There were eight tigers out entrepreneur. What do you put together? Let me first tell you my there. They were men with the company only six months when I definition of an entrepreneur-it is what most of you in the title started that supervisory job, and those who had been there over 25 business are. years. They all reacted the same way-we became a team. Mr. Webster's definition of an entrepreneur comes from the French Now, when I started with Remington, I needed a real team effort. I word, entreprendre-to undertake, it is someone who assumes the think it's crucial to the future of our country, to the maintenance and risk and responsibility of an entity or organization. increase of our standard of living. Now, Mr. Webster was a learned man. But I believe he was only half Every nation's government is elected for one reason only: to raise right; because entrepreneurs not only undertake, and assume respon­ the standard of living of their population, to make life better for all the sibility and risk, but entrepreneurs are dedicated to the success of citizens of that country. That's really why we elect a President. We whatever they undertake and are willing to make sacrifices to achieve think he is going to do the best job for all of us. that success. Entrepreneurs "prioritize." They approach life and business with a The Remington Challenge rifle, not with a shotgun-they don't scatter all over the place because Well, I started with Remington. We not only had to tighten our belts, they are interested in the success of whatever they undertake, so they we had to survive. The company lost $30 million the previous four have to limit what they do. You can't be successful if you scatter. So, years-its market share had gone down. It had abandoned markets in entrepreneurs take a few things and try to do them as well as they can, some countries. Sperry sold the company to an individual on a lever­ and are willing to make sacrifices and give up other things in order to aged buyout, taking back some $11 million in paper, in notes. They achieve their goal. couldn't get anybody to buy it. I did a leveraged buyout, where the total In my case, I have very simplistic priorities-really only four. One is purchase price was $25 million, and put up 2 percent of the money (of my family (they come before anything else). Second is business, be­ which half was borrowed). cause I was trying to achieve a success in that area. Third, I happen to like a sport (tennis), and still play it, trying to win Wimbledon. That's the one thing that I think before I pass from this earth that I would like to achieve. Fourth is education, because I think if we are going to ~~The entrepreneur doesn,t scatter all survive in this world as a nation we have to have an educated popula­ over the place ... because you can ,t be tion. Those are the four things in which I really strive to be successful in, to assist in any way I can. successful ifyou scatter. ,, When I started out, I didn't know I was an entrepreneur, and thus started out very simplistically. I wanted to go into foreign trade, so I went to a company called Lever Brothers where they told me of a It was $250,000 solid cold cash, but I believed in the product. Yes, it wonderful position in foreign trade. "What's that?" I asked. The man was true, I flipped over that shaver! said "Go to Cleveland and sell cosmetics-that's foreign trade!" After 30 years, I was advised not to do this. But even then, I was So, Cleveland became my first territory. Upon arrival, I said to willing to take the risk. But the problem started when I began with myself, "What's my goal?" My goal was not to be my boss, the next Remington. It was then that people started to leave. They said, "How step up, my goal was to be president of Lever Brothers. Now, how was can this guy make this successful? How is he going to turn this company I going to get there? Looking at my opportunities and what I could do at that time, there was only one way I felt I could get there-to work continued on page 38

13

eSagaOf u-4 Modern-Day Noah

Adina Conn

housands of years ago, Noah from a California designer specializing thane and fiberglass, and then sanded. received a message from in trimarans. "Trimarans were very If this sounds simple, envision sanding bove to build a 450-foot Ark, popular in the '60s and '70s. A lot of an entire 53-foot structure with a 35- taking with him on his 40-day voyage 'hippies' who wanted to escape from pound electric sander. "It's enough to his family and enough animals to pop­ the world-the 'Haight Ashbury peo­ make your arms, hips and back ulate the earth. ple,' were taking off in them," says break," declares Hofmann. Although Fred Hofmann insists he Hofmann. Research, of course, was a must. received no calling from a Divine Be­ Claiming he was one of those in Hofmann bought somewhere in the ing, the senior vice president of Amer­ spirit, if not in character, Hofmann neighborhood of SO books to aid him. ican Title Insurance Company, Miami, found a vehicle for freedom in con­ "Each book helped a little, but some Florida, has become a modem-day struction of his trimaran, building and also served to confuse," he says. "I'd Noah. installing everything from the boat's buy five, and one would help. The ta­ The story began in 1969, when Hof­ frame to its sails, electrical and ble of contents sounded great, but I'd mann conceived the idea of building a plumbing systems. read the chapter and it would tell me trimaran, on which he and his wife, The first major investment in his nothing." Joanne, would eventually retire. "maritime mission" was the purchase Knowledge of the many elements Never having undertaken such a of fir and plywood required for the comprising the complex device we "weighty" project, in 1972 he boldly vessel's frame. After the frame was call a "sailboat" was acquired from began to breathe life into his seafaring complete, it was coated with polyure- books. Although he learned as much dream. With the help of blueprints, numer­ ous volumes of "how-to" books, sec­ ond-hand Black and Decker and Japa­ nese equipment donated by "con­ cerned" friends, and virtually everything gracing Sears' hardware department, Hofmann began the big­ gest project of his life-one that would last from 1972 to Memorial Day weekend 1984. Working in his back­ yard, on one acre of land, Hofmann hammered, sawed, drilled, sanded, planed, and ground away for 12 long years until his trimaran, "Fat Duck," was completed. Plans for the boat were purchased

"I considered the name 'Fat Duck' suffi· ciently irreverent. You know, everybody gives their boats such esoteric names. But it looks like a fat duck just sitting on the water." F. Hofmann Joanne taking the wheel with Fred at her side.

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Call our expert staff or write for more information. (609) 396-9000 800-792-8888 CHARLES ]ONES, INC. 50 Capitol Street, P.O. Box 8488 Trenton, NJ 08650-0488 as he could from other sails billowing, sitting builders, Hofmann found smack in the middle of that books were more pre­ backyard suburbia, cise and, in general, infi­ brought more than its nitely more reliable. share of raised eyebrows to Nonetheless, the worst the Miami-Dade commu­ aspect of the project re­ nity. called by Hofmann was en­ For years, passing driv­ tering into a situation to­ ers saw the massive vessel tally at risk until the very arising from behind Hof­ end-one filled with innu­ mann's five-foot stone wall. merable uncontrollable Cars would stop, and even­ factors. "For example, you tually someone would can lose your job, you may stroll over and inquire, fall ill, or your wife may get "Can I ask you something? mad and leave you-and How are you going to get then you'd have to choose that out of there?" Render­ between her and the boat. ing his standard replies, Some I've known have cho­ Hofmann remarked, "Well sen the boat," confesses ... There's a rain coming Hofmann. "My wife and I you don't know about," or, have talked with others in "I'm going to tum on the similar situations, and we The Hofmanns aboard Fat Duck. garden hose and float it know very few couples who out." remained together before, during, buff. One Sunday afternoon,.she came Finally, the day came when Hof­ and/or after completion of the boat." to Hofmann's backyard to paint the mann would tear down the huge ficus The secret to Hofmann's maritime/ boat's logo. On the other side of the tree and stone wall, ready to launch marital success is fundamental: Jo­ wall lived a woman with strong reli­ his boat. Just as he was prepared to anne never worked with him! She gious convictions. The artist stood on actually show onlookers how the boat liked the idea of the boat, but was the boat's transom, palette in hand would come out of its nesting place, a smart enough to say, "Call me when and bikini on land. motorist zoomed by, stopped, turned it's finished." Hofmann would echo Fearing the neighbor would tele· around and casually walked over to Joanne's sentiments with his own re­ phone the Miami police after viewing Hofmann with, "Can I ask you some­ ply, "Better for only one of us to walk his backyard artist, Hofmann sug- thing? How'd you get that in there?" in 'dead and dirty' at the end of the "Fat Duck" was now ready for its day than both of us." maiden voyage-via land. After a per­ "Fat Duck" would have been com­ "Trimarans were very mit was obtained from Tallahassee at pleted years earlier, had it not been popular in the '60s and the last minute, a crane lifted the boat for Hofmann's demanding work onto a trailer and carried "Fat Duck" schedule. Vacations and holidays af­ '70s. A lot of ~hippies' who to its new home. At this time, Miami forded him the only time for work on experienced wanted to escape from the climatic conditions akin his project. "That's why it took so to Noah's, with rains and thunder­ long," Hofmann explains. "I traveled world-the ~Haight storms lasting five days. a lot, mainly for litigation purposes. I Ashbury people,' were Escorted by a caravan of cars, "Fat was all over the country. Sometimes Duck's" "feathers" became a bit ruf­ I'd be away for months before ever taking off in them." fled as it was dropped by the crane, setting foot in my backyard." leaving a slight hole in its underwing. Was his project considered a bit ec­ Finally, despite the pouring rain and centric by his associates? "They told gested that she don a more "modest" wrong size shackles (used by the me I was crazy," he says, "which I pose. The next moment, 40 men Hof­ crane), "Fat Duck's" migration was was. I told them people lived and died mann hadn't seen for quite some time completed. in my boat before it got launched!" congregated on the opposite side of On Memorial Day weekend of 1984, Perhaps the most "notorious" of his wall, admiring the "masterpiece." after five days of little-to-no sleep, Hofmann's seafaring sagas is that of The logo was indeed completed­ tearing down the stone wall and ficus the shapely young woman who without the involvement of the police. tree, and shelling out $4,000 to move painted Hofmann's logo, "Fat Duck," It is said that the young woman's art the boat, Hofmann spent his first on the trimaran. needs no advertising, as her work con­ night in his new seafaring home. Billing herself as "The Bikini Sign tinues to thrive in the Dade County "You don't realize how things will Painter," this particular individual marina circles! change your life," he says. "Who had a proclivity for painting in the Hofmann's 27 X 53 foot trimaran, would have ever dreamed that, once I

17 be completed in fewer got in the car and headed for the ma­ football fields . Hofmann knows be­ project could rina, I'd never sleep in my old bed cause he installed the telephone sys­ years. years ago, if someone again? The thought never entered my tem himself-running 1,200 feet of Fifteen into a crystal ball, telling Hof­ mind." wire under the dock. peered the future held for him, he Is living on a boat as glamorous or Slip space for the boat is a mann what have found his romantic as it seems? Probably not­ "weighty" matter. "Fat Duck" is too claims he would hard to believe. especially if one is prone to seasick­ wide for regular slip space, so she is present life-style I love this boat, if I had ness as Hofmann is! " I always liked situated at the end of the dock; entry "Much as accessible only by gangplank. Rent for the slip is extremely costly. " It's a lot "They told me I was crazy, "Each book helped a little, for a little piece of dirty water-espe­ you consider you can rent which I was. I told them and some served to confuse. cially when a nice condo on the beach for the people lived and died in The table of contents same price!" Hofmann exclaims. a boat cost-effective? my boat before it got sounded great, but I'd read Is life on " NO! ," Hofmann declares adamantly, launched!'' the chapter and it would " not if you want to live with the same do on land. You can tell me nothing." gentility as you live in a boat and save money if you're known it would take me this long to build, I never would have done it by madman would devote boats, but I always got seasick," he myself. Only a to anything." admits. "Until they invented Drama­ that much time for the modem-day mine, I neither flew nor sailed." Now, What's next in December, he no longer takes the medication Noah? After retiring his wife look forward to when he flies, but he does confess to Hofmann and filled with clear, sunny skies taking it at sea, or on nights when the a future sailing. The Hofmanns' im­ wind whips across the water in the perfect for plans are to sail up the marina. mediate setting anchor in Rhode Sailing into the Florida sunset isn't intercoastal, to visit their son and his family. without its share of problems. "There Island Hofmann are things people take for granted. Fa­ And, if misfortune found island? That cilities on boats are not like facilities shipwrecked on a desert serious a threat­ in home. You don't always tum the wouldn't pose too and his extensive switch on and get action. You have to provided Joanne accompany him. live with 12-volt power rather than jazz collection could would be the 110 volts." Says Hofmann, "Joanne for me to be Hofmann claims that one can't go most suitable person She could easily sailing and return without work to be shipwrecked with. " and, "as long as done. "You go out for four days-I deal with my moods, 78s and LPs, guarantee you, I don't care if it's the I have tapes of my old fine-anything be­ Queen Mary, when you come back, that would be just Goodman or something has snapped, or parted, or fore the '60s, Benny Lester frayed, etc. It's the way of nature." Benny Carter-particularly course!" There are the common malfunc­ Young, and Basie, of imminent threat of a tions. "The toilet breaks down. As Although no flood looms on the horizon, Hofmann soon as that's fixed, the air condition­ haul from the parking lot to the It's a long he is host to his own entourage ing fails, or the special lights bum end of the pier where "Fat Duck" is claims great and small-cats out-not to mention leaks." docked-the length offour football fields. of all creatures Mimi), lizards, cock­ Life aboard " Fat Duck" wouldn't be (Max, Spiffy and "beasties" (the lat­ complete without middle-of-the-night roaches, and other all boarded two-by­ " wake-up" calls by the Coast Guard, a 'wharf rat' and don't care about the ter which have as they patrol the " neighborhood" for usual conveniences.'' two, of course)! years of toil, bouts drug traffic. Maintains Hofmann, " Ev­ Despite the negatives, Hofmann Considering the , and per­ ery day is Fourth of July around readily admits he enjoys the project of seasickness, frustration this is a pretty remark­ here!" and the life of a seafaring captain im­ severance, all a man who taught himself Ironically, the biggest problem with mensely. He insists he'd never move able tale for reading an 8-page booklet Hofmann's nautical residence is park­ back to land voluntarily. If he had it to to sail by to go against the wind," ing. From the parking lot, it's a long do over again, he'd do so without hesi­ on " how he found tied to the neck of a haul to the end of the pier where "Fat tation, only this time, he admits, with which Walker Scotch! Duck" is docked-the length of four an assured source of help, so the bottle of Johnny

18 Life Aboard . • •

The Duck

The Country Kitchen.

The Dining Room. The Master Bedroom.

The neighborhood. AccoWiting for the 1986 Tax Reform Act: ''Fresh Start''

Thomas R. Waw ersich

n recent years, members of the title in­ and Jim Shanahan of the Washington office of that should be recognized when realized, surance industry have for federal income Price Waterhouse at a Price Waterhouse/ that is, as the deductions for the difference tax purposes utilized a variety of meth­ ALTA seminar held in Denver on April 6, between the discounted amount and the I on the ods to account for title insurance policy reve­ 1987. During the seminar, a number of ques­ undiscounted amount are recognized nues and loss claims. These methods of ac­ tions regarding proper accounting procedures tax return." counting typically involved the use of one or for reserves and the "fresh start" adjustment two or in some cases all three of the basic under Generally Accepted Accounting Princi­ "The Task Force also reached a consensus reserve accounts as follows: ples (GAAP) were raised in response to com­ that, for enterprises that have discounted 1. An Unearned Premiums Reserve (UPR) ments by Bob Huber, a partner in the Newport loss reserves for accounting purposes, the which gives effect to the statutory pre­ Beach, California office of Price Waterhouse. 'fresh start' adjustment is analogous to the mium recognition pattern of the states Generally Accepted Accounting Principles effect of the change in tax law addressed by in which the company does business. and the Internal Revenue Code frequently FASB Technical Bulletin No. 84-3, Ac­ 2. A reserve for losses that have been In­ have conflicting requirements for computing counting for the Effects of the Tax Reform curred But Not Reported (IBNR). This income. The use of certain reserves, while Act of 1984 on Deferred Income Taxes of reserve acknowledges that losses will be acceptable for computing taxable income, are Stock Life Insurance Enterprises. Consis­ incurred on policies written and that not permitted for financial reporting purposes tent with the guidance in Technical Bulletin these losses should be provided for. under GAAP. As a result, most companies will 84-3, the enterprise should reverse the re­ 3. A reserve for losses on claims which have provided deferred taxes, particularly on lated deferred taxes, to the extent of the have been reported and are known to their UPR reserves. A portion of these de­ 'fresh start' adjustment, in the period the exist (case basis). ferred taxes relating to the "fresh start" ad­ loss reserves are initially discounted for tax While a few title companies have utilized justment can be released into income through purposes Ganuary 1, 1987)." discounting to determine their ending reserve a debit to the existing deferred tax liability and balances, most did not. a credit to income tax expense. Depending on FASB Technical Bulletin 84-3 states, in The use of these reserve accounts, whether the method of recording the UPR reserve for part, that adjustments of "income tax expense discounted or otherwise, has generated a con­ GAAP purposes, the "fresh start" benefit may for the effects of the Act (such as the 'fresh siderable amount of controversy between the be required to be recognized over time or, in start' adjustment to UPR) should be reported industry and the Internal Revenue Service. At certain cases, all in one period. as an item of income tax expense of one in­ various times, the Service has either required With respect to case basis reserves, how­ terim period only rather than as an adjustment or disallowed the use of these reserves by the ever, most companies utilized the same ac­ of the estimated annual effective tax rate and issuance of Revenue Rulings and other tech­ counting treatment for both tax and financial should not be reported as extraordinary nical pronouncements. This often resulted in reporting purposes and, accordingly, no de­ items . .." litigation and contributed to uncertainty for ferred taxes were required. Since no deferred As a result of the above, certain companies title insurance companies in general. taxes exist, the question in this case relates to will be allowed to record the entire "fresh Congress addressed these issues as a part the proper period in which to record the start" benefit attributable to UPR reserves in of the Tax Reform Act of 1986. For tax years "fresh start" benefit. This benefit will be re­ the first quarter of 1987 as a debit to existing beginning after December 31, 1986, title in­ corded as a deferred debit on the company's deferred tax liabilities and a credit to income surers will no longer be entitled to use IBNR balance sheet and, as with the UPR "fresh tax expense. Other companies will be required reserves when computing taxable income. start," may be required to be recorded all in to recognize the benefit over time as the Case basis and UPR reserves will be required one period or over time. amounts are recognized on the company's tax and, in addition, reserve balances as of De­ Some guidance is available through FASB return. cember 31, 1986, and all future reserve bal­ Technical Bulletin 86-1, Accounting forCer­ The financial reporting rules for recording ances, must be computed through the use of tain Effects of the Tax Reform Act of 1986, the tax benefit of these and other items relat­ discounting. which indicates that prospective provisions of ing to the Tax Reform Act of 1986 are subject The act provides for a "fresh start" for the the Act should not be recognized prior to the to interpretation and are, in many cases, still transition from undiscounted to discounted re­ provision's effective date. In addition, the being developed. As such, companies with serve balances whereby the beginning dis­ FASB Emerging Issues Task Force addressed these types of items should consult with their count computed as of December 31, 1986, this issue during its meetings on December 3 tax and financial accounting advisors prior to will effectively be forgiven. That is, the begin­ and 4, 1986 (Issue 86-37) and has reached the recording them on their books. ning discount will never enter into the calcula­ following consensus: tion of taxable income resulting in a perma­ nent tax benefit to the company. "The Task Force reached a consensus that The author is a Certified Public Accoun­ The history of title insurance company tax­ for enterprises that do not discount their tant with Price Waterhouse, Newport ation and the mechanics of discounting re­ loss reserves for accounting purposes, the Beach, California. serve balances were discussed by Bob Shapiro tax law will create a permanent difference

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P.O. Box 433 Carmel, IN 46032 mfj (317) 842-8772 s ------Business Computer Systems relationships above one's own point of view is that it ignores the value of goals. Ignore differences rather the views and feelings of others, and may be than risk open conflict. perceived in the long run as aggressive and dictatorial. _ B. Differences are to be expected among people since people are dif­ C. If you put "C" first, then COMPRO­ ferent. Some are right; some are MISE is probably what you most often wrong. Ultimately, right should work for when there is conflict. Compro­ T~Man.agemenf mise avoids blowups by giving everyone prevail. Therefore, one has the ob­ Q uestion ligation through persuasion and something of what they want. Everyone power to resolve conflicts. "wins a little, loses a little." The disad­ vantage of compromise is that you may miss creative solu­ _ C. Differences should be viewed in finding a highly productive, sight of important the light of the common goal. Feel­ tion. You may also lose People can get What do you find is the most pro­ ings and opinions should be aired, larger issues and principles. ductive approach for managing but should not be allowed to block very cynical about the "compromise game." conflict? progress. You cannot please every­ one. Therefore, persuasive skill may be into David W. Miller, Ed.D., and compromise should be used to D. If you chose "D," you This style is useful President, PHOENIX Hu­ end conflict. AVOIDING conflict. or there is man Resource Develop­ when an issue is unimportant your needs, of be­ ment, Potomac, Maryland _ D. Differences reflect individual past little chance of satisfying It is also useful as a way of -Conflict is natural and in­ experiences, motivational needs, ing successful. cool down, or of delaying a evitable. In the land title personal aspirations. As such, they helping people until more data can be collected. business, one finds it with cannot be changed by others. decision , it may mean that subordinates, between Therefore, when differences arise, When used persistently is "lose-lose." You lose peers, departments, with one either becomes involved in your basic position you want, and the others lose because clients, bankers, and attorneys. People will al­ them or avoids them. what withdrawal from the situation deprives ways have different values, goals, and ways of your of the benefit of your values and ex­ doing things. In the best of all possible worlds, _ E. Differences are a natural part of them perience. there would be no conflict. But, since there is, being human. They are of them­ the issue is how to deal with it in the most selves neither good nor bad. Con­ first, then COLLABO­ productive, least destructive way. flict indicates tension in a relation­ E. If you put "B" mode ship, but when brought out, RATION is probably your preferred of dealing with conflict. Collaborators be­ To successfully resolve conflict we need to: analyzed, and resolved, the rela­ lieve that it is important to find a way to • . Recognize that it is normal tionship is strengthened rather meet everyone's legitimate needs without • Assume that the values and motivations than weakened. Open discussion of that working through tough of everyone involved, ourselves included, differences leads to richer ideas compromise, helps both solve the problem and are complex and need to be understood and greater creativity. Therefore, issues build stronger relationships. Collaborators • Be willing to understand and accept oth­ differences should be confronted tend to see the world as "win-win." The ers' feelings and points of view openly. is the most time con­ To find out what your choices may mean collaborative approach suming. It will be dealt with in greater de­ There are three elements key to resolving and what the advantages and disadvantages of tail later in following paragraphs. conflict: each approach are, read the following explana­ • Basic attitudes towards conflict and the tion: you can see, each position is valid, de­ advantages and disadvantages of each of A. If "A" was your top-ranked choice, you As on the circumstances. Each position those points of view probably prefer to ACCOMMODATE. pending its strengths and weaknesses. Clearly, • The interpersonal skills most needed to People who accommodate prefer maintain­ has are times when it is appropriate to use resolve conflict effectively ing relationships, good will, and harmony there all your power to get something done when • The steps to follow to achieve "win-win" over anything else. The advantage of this is an emergency. There are also times conflict resolution, the most demanding approach is that it does make for harmony, there it is important to collaborate, to put out and productive approach but you may lose sight of important princi­ when ples. People who consistently try to harmo­ the effort needed both to solve the problem What's Your Attitude? nize may be seen as weak, as people whose and improve relationships. Still, at other ." times, it is essential to avoid conflict and pre­ To identify your basic attitudes toward con­ basic position is "I lose; you win serve your strength for other times and is­ flict, do the following exercise for yourself. sues. The question is whether you: Rank in priority order the following state­ B. If you gave this position the highest ments, giving the attitude that most reflects rank, you may favor COMPETITION as -know what your predominant style is your feelings about conflict a #1 ranking and the way to deal with conflict. Competing is -have alternative styles available to you to the one that least reflects your feelings a #5. appropriate when there is an emergency, use when circumstances call for them _ A. Differences only serve to drive when immediate action is the answer. It is people apart. Their personal impli­ also appropriate when you need to do some­ without well-devel­ cations cannot be ignored. Conflict thing unpopular, e.g., cut costs or enforce a Whatever your attitude, skills you may have trou­ requires self-sacrifice and placing rule. Competitors tend to see the world as oped communication Now, let's the importance of continued good "I win; you lose." The disadvantage of this ble resolving conflict effectively.

22 describe the skills you most need or most need Being silent goes hand in hand with asking Mr. Arnold told me that to improve. questions. If you follow a question with silence someone else was at fault Essential Interpersonal Skills (however awkward it may feel), you are sig­ and that the problem would nalling the person being questioned that the be taken care of right Behaviors are the alphabet of communica­ question is a serious one, that you really want away." tion. We need to be able to recognize them, to hear from him/her, and that you respect his/ and to separate them out so that we can make her need to reflect silently before speaking. People tend to get defensive when others choices among them, use them deliberately, Given our cultural norm that silence should be utter opinions about them as if those opinions and become more effective with people. Let's filled, the person you are questioning will were facts. Opinions are like labels; they have examine the specific verbal and non-verbal probably feel compelled to talk more. So ask a finality which can be threatening. No one, communication skills which are part of active your questions and wait. Be wary of the im­ for instance, likes to be told their work is listening, one of the most powerful communi­ pulse to speak out, perhaps to defend yourself, "lousy"; it sounds so permanent. So, watch cation behaviors there is and a skill essential a colleague, or your organization. out for defensive feelings arising when some­ to resolving conflict. one you are in conflict with utters opinions. We do not usually think of listening as com­ 3. GATHERING FACTS: It is impor­ Success in resolving conflicts often depends municating, yet it is. We have all had the ex­ tant when actively listening to listen for and on the extent to which you can sort out facts, perience of not being listened to, and can re­ solicit the facts. Often in conflict situations, feelings-as-facts, and opinions. It is important call the conclusions we came to about the people are so aroused that they mix facts to focus on the facts and not get caught up in messages that the non-listener was sending to with feelings with opinions. the opinions. If you find someone uttering us by his/her non-listening behavior. Facts are verifiable. That a report, a prod­ mostly opinions, ask them for specifics to help Active listening consists of the following: uct, or a service wasn't delivered on time is a you see, understand, and feel the situation fact, because you can usually verify it. Feel­ more clearly. If you find someone expressing 1. QUESTIONING: Questions are an ings are facts, because people experience or implying strong feelings, acknowledge essential verbal communications tool. When them. But, because feelings are internal, they those feelings ("You seem to be feeling very questions are well-asked, they get answers, are harder to verify and need to be dealt with frustrated; is that correct?"). When you find i.e., provide data which you can use. The differently. Sometimes we can see how a per­ someone stating the facts, feed those facts key is whether you use the data you get for son feels by looking at his or her face and back by paraphrasing. or against the person you are talking with. posture; we may see anger or sadness or en­ If you ask "trap" questions, for instance, thusiasm. But, because people are trained to 4. PARAPHRASING: Paraphrasing, or you probably will arouse hostility. So it's mask feelings and because facial expressions restating in a summary fashion what some­ important to ask questions and ask them in and posture can mean a number of things, we one has just said, is perhaps the most pow­ a way which generates the kind of informa­ often have to verify another person's feelings erful active listening behavior. First, when tion that helps resolve the conflict or prob­ by recalling similar experiences of our own or you paraphrase someone, it tells the person lem. by imagining ourselves in that other person's that sfhe has been heard and exactly how It is useful to think of two kinds of ques­ place. Opinions aren't facts, but they may be clearly. If your paraphrasing isn't accurate, tions, open-ended and closed-ended: based on facts. Opinions are generalizations, the other person usually will clarify or re­ Type Objective Examples conclusions based on a series of impressions state what sfhe said. When people know Open-ended To get the "How is it go- or events. Some examples follow: that they have been heard, tension often person to ing?" diminishes. Second, even if your paraphras­ open up, to OPINIONS: "You guys did a lousy job." ing is accurate, it tends to encourage the talk; to over- "What hap­ "The service here is very other person to keep talking, to add useful come appre­ pened?" hension; to unsatisfactory!" details. Third, when the person you are provide the "What can "You have a problem." talking with acts defensive or hostile, delib­ greatest free­ you tell "You should/ought to . .." erate paraphrasing helps you respond to dom to an· about it?" "It's a turf issue." whatever he says without escalating the swer conflict "What solu­ (except in highly explosive situa­ tions do you FEELINGS: "I am very angry!" tions). As you read the example of para­ see?" "I'm really frustrated .. . " phrasing below, try to discern the differ­ "I would be satisfied if . .. " ences in tone between the speaker and Closed-ended To elicit spe- "How long listener: cific in- did it take?" "I feel left out ... " formation "What hap­ ("I feel that you ..."is not a Speaker: Well, what kind of production pened feeling; it's an opinion.) do you expect out of me when next?" what I get from them is usually "Who .. .," FACTS: "Yesterday, three custom­ incomplete and late? It's their "Which . ..," ers complained that you fault. "Where .. .," didn't deliver on your com­ Listener: You're saying that what you etc. mitments on time and on get from them is often unfin­ 2. SILENCE: The skill of keeping silent is one occasion was rude to ished and late. essential in dealing with people, but it is them." hard for most of us to exercise it, especially A SUMMARY is an extended paraphrase, in our culture where we often think of si­ "I asked to have this prob­ done when someone finishes saying what they lence as "awkward," where one is expected lem corrected last Tuesday, have to say. When you summarize, you signal to fill it with words, especially when we feel again on Thursday, then that we are being verbally attacked. again today. At each point, continued on page 31

23 Now's The Time­ Order Your

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The Importance of the Abstract in Your Community Describes, in quick-read form , what an abstract is and tells about the role of abstracters in expediting real estate transac- tions. Points out that the skill and integrity of ALTA member abstracters represents an important asset to those who pur- chase and otherwise invest in real property. $17.00 per 100 copies

Buying A House of Cards? For those needing a lively, high-impact piece of promotional literature. In quick-read text, the folder makes it clear that title hazards are a sobering reality-and emphasizes the impor­ tance of owner's title insurance for home buyers. Reminds that home ownership is a major investment that can be pro­ tected by the services of ALTA member abstracters, agents and title insurers. $14.00 per 100 copies

Send checks made payable to the Association to American Land Title Association, Suite 705, 1828 L Street, N.W, Washington, DC 20036. You will be billed later for postage. Somebody's Gotta Cook The Chicken

P. C. Templeton

ost of us can recall failures of res­ were met, and the stock rose in price with gressive salesmen and called a staff meeting. taurants started by master active trading. In attendance were the administrators and M chefs-famous gourmet cooks. It appears that whomever was guiding the salesmen, but not the old codger with the Typical of these entrepreneurs was my old destiny of this enterprise forgot one little black garters who remained in the plant, af­ friend Gus P., a renowned chef who had offers thing-somebody's gotta cook the fixed to his wobbly stool. from many world famous restaurants. Any chicken. The salesmen knew nothing about abstracts properly managed restaurant that hired him Remember Gus who assumed that anyone or title policies, but they knew how to sell. was assured of success, as restauranteurs should be able to take care of the adminis­ They hit the streets and found as a result of gathered at his door, pleading for his services. trative functions of a business? The adminis­ their research that market share could be in­ Gus was a technical and artistic perfection­ trative genius running this organization con­ creased by innovation in two broad categories: ist, constantly annoyed and frustrated by man­ versely presumed that any idiot can fry price and give-away coverages at no additional agement insistence upon intruding into the af­ chicken. Everything was perfect until the cost. fairs of the kitchen. grand opening, at which time someone tried to With respect to pricing, the good adminis­ In a moment of extreme frustration, Gus eat the lousy chicken. trator was eminently qualified to maneuver thought to open his own restaurant, ensuring The signs came down, and the yellow build­ the course of an enterprise. History has that preparation of food would be his number ings (painted a different color), were eventu­ shown, however, that when the same adminis­ one priority. Like many pure technicians, Gus ally occupied by other fast food operators, trator started dabbling in coverages-sans in­ viewed non-productive personnel as parasiti­ poodle plucking parlors, and karate studios. put from his technicians-he jeopardized his cal and cumbersome in ventures dealing with In these two examples, a fatal imbalance of company. These adventures into areas un­ technical services. His belief was not to have technicians and administrators caused failure known gave rise to a number of traumatic his organization cluttered by a bunch of admin­ of enterprises that could otherwise have been results; the competitive advantage was short­ istrative "bean-counters." successful. lived, and affirmative coverage resulted in Of course you know the ending of this tale. In its genesis, the title industry was much substantial loss. Gus eventually learns that business adminis­ like Gus' restaurant. Most abstract and title For example, shortly after World War I, a tration requires as much expertise and skill as offices were started by the technicians who war hero had the bright idea to increase his does cooking. He acquired this gem of knowl­ searched the records and assembled the title market share dramatically by providing cover­ edge as a result of going bankrupt. evidence. Administrative considerations were age that insured payment of all construction Those of us who have been around a few inconveniences the old-time abstractor put up costs in a building project. He was absolutely years will recall some 20 years ago, a fast food with in order to own and operate a title office. correct assuming his market share would in­ chain was set up under the name of a popular Among professionals, there still remain ves­ crease. In self-defense, his competitors imme­ woman, a country-western entertainment tiges of this inclination to put technical consid­ diately offered the same coverage. The title personality. Her name was used in the obvious erations in the position of absolute top prior­ insurance industry was devastated and very presumption that the name on the outside of ity. nearly died. the box was more important than the fried Then competition comes along and shatters Shortly after World War II, title underwrit­ chicken inside. the serenity. ers sought another practice unrelated to un­ Whomever put this enterprise together As the pace of real estate commerce accel­ derwriting; loans to developers for land acqui­ knew exactly how to structure a national cor­ erated, some smart M.B.A. (probably the ab­ sition and infrastructure costs to lock in the poration. All the securities registrations and stracter's son) realized service could be a title business. In order to obtain title premi­ prospectuses were handled in expert fashion. strong competitive factor. He was absolutely ums (a miniscule portion of the overall cash The stock hit the big board and sold well. right. The hard-headed old abstractor with the generated by a project), underwriters took a Good sites were acquired at fair prices green-eye-shade and black garters on his shirt security position behind everyone else, as­ throughout the country. Buildings were de­ sleeves found his market share dwindling, and suming a greater risk than any other project signed to be functionally good and buildable at either went out of business or brought in a participant. As a result of this stroke of ge­ reasonable cost. The advertising budget was sharp administrator. nius, today there remains a number of "white in proper proportion to the size of the enter­ The pendulum of progress then reversed elephants" scattered around the country, prise and an advertising campaign was skill­ direction and started to swing toward adminis­ vested in title companies. It would be a safe fully conceived and effectively executed. trative dominance. In a specific trade area bet to say this innovative sales tool was not Everything looked great. Attractive yellow where all title operations were efficiently launched by a title officer. buildings were erected, signs were posted, managed and service was uniformly good, the We would be extremely naive to think we parking lots were paved, ads were placed in administrative types were forced to seek can achieve a perfect balance between tech­ the yellow pages-all projected schedules other areas of competition. They hired ag- nical, administrative and sales personnel. We

25 should, however, be able to deal with a near­ technicians when formulating policy-or, ALTA Staff Lineup adversarial attitude that sometimes exists when creating innovative ways to gain a com­ among title technicians, administrators and petitive edge by giving away additional cover­ Changes Announced business development personnel. ages. Separate departments are then less apt In some organizations, there is a tendency to act autonomously, instead becoming part of Recent ALTA staff additions and changes to put each of these departments in its own a team that guides the destiny of the company have been announced by Association Execu­ corporate leper colony. This barrier can effec­ in a competitively strong, and economically tive Vice President Mike Goodin. tively be broken down by a mutual under­ sound manner. Pat Berman has joined ALTA as director of standing of the problems and functions among It seems inconceivable that any adminis­ education and membership services, a newly­ the respective departments. trator or business development person in mid­ created position. She has staff level respon­ A title company is indeed fortunate if its dle or upper management would not be anx­ sibility for all educational activities of the CEO is a title officer who, before embarking ious to learn a bit about how to "cook the Association and its subsidiaries, and for devel­ on his career in the industry, obtained a de­ chicken" in order to link arms with the techni­ opment, implementation and coordination of gree in business administration. cians, thus keeping the pendulum of depart­ programs that will enhance the value of ALTA Degrees in business administration and mental balance near center. membership to existing and potential mem­ development are readily available in colleges One of the best and certainly the easiest bers. and universities throughout the country. way to do this is by enrolling in the correspon­ Pat received her B.S. degree in business There is, however, no formal course of study dence courses offered by the Land Title Insti­ administration from Bowling Green (Ohio) offered which prepares one to be a fully quali­ tute. There are many excuses, but no valid State University, and previously spent more fied title officer. A law degree provides an reason for not doing so. than 12 years with Mars, Incorporated, where excellent foundation upon which to build, but For information regarding correspondence she most recently was a project coordinator. the only way for an individual to earn his spurs courses, contact Ramona Chergoski, Execu­ Prior to that, she worked for three years as an as a fully qualified title expert is by contribut­ tive vice president, The Land Title Institute, ALTA staff member, serving as executive ing years of experience to the foundation. Inc., P.O. Box 9125, Winter Haven, Florida secretary to the executive vice president. Obviously, we cannot expect all adminis­ 33883, telephone (813) 294-6424. trators and business development people to is president of First Ameri­ serve years in this capacity. How then, so they The author can Title Company of New Mexico, Al­ learn enough of the technician's problems and buquerque, and a member of the ALTA practices to achieve the desired interdepart­ Education Committee and Land Title In­ mental understanding? stitute Board of Directors. The answer of course, is education. Education is available from a variety of sources such as company sponsored seminars Landmark Title Berman Antilety and state title association educational pro­ Maine Office grams. In many areas, these are excellent Opens Lynn Antilety has been promoted to direc­ sources. In a few parts of the country, how­ Landmark Title, Inc. has opened a satellite tor of meetings and conferences for the Asso­ ever, they remain spotty and irregular. office in Kennebunk, Maine, under the name ciation. She joined the ALTA staff in May, The American Land Title Association has of Benchmark Title Company. Located at 34 1986, and previously was executive assistant. an educational program available to members, York Street, Benchmark represents Land­ Beth Carpenter, previously legislative as­ on a regular regional basis. mark's first facility in Maine. sistant, replaces Lynn as executive assistant. The educational arm of the Association is According to Joanne Stevens, manager of Beth has been employed by ALTA since No­ expand. becoming more active, continuing to the new facility, the Kennebunk office will be vember, 1986. For administrators and business development linked to other Landmark offices via state-of­ personnel unable to attend ALTA seminars, the-art computer equipment. The company's requiring another source is available, one not automation capabilities enable it to speed hours: a travel and accessible after business transactions and reduce errors. correspondence course from the Land Title Institute. The Land Title Institute, founded in 1970 Commonwealth Acquires as a private enterprise, was donated to the Monumental Title ALTA in 1980. Currently, it operates as a non-profit corporation subsidized and owned Commonwealth Land Title Insurance Com­ Carpenter Kahn by ALTA. LTI offers basic and advanced cor­ pany has acquired Monumental Title Corpora­ respondence courses. Many new employees tion, a Maryland company with six offices in Laura Kahn recently joined the staff as legal fmd these courses extremely useful. These the Washington-Baltimore area. assistant and computer development special­ courses, however, are also valuable to upper The 35-year-old Severna Park, Md., com­ ist. She is a native of the Princeton, New Jer­ and middle management-experts in adminis­ pany will operate as a division of Common­ sey, area and received her B.A. degree in in­ tration or business development who do not wealth. Monumental Title has been Common­ ternational relations from the University of have a background or the experience in the wealth's exclusive agent in the Pennsylvania. technicalities of the title industry. Washington-Baltimore area since 1965. While an undergraduate, Laura spent a year The courses will not make one a title afficio­ "The consolidation of Monumental Title as a student at the University of Paris in a nado. They will, however, provide a basic and Commonwealth will allow us to expand program sponsored by Columbia University. knowledge and understanding of underwriting our direct operations in the growing Maryland Laura replaces Kelly Throckmorton, who has considerations that should motivate those in real estate market," said Joseph D. Burke, enrolled in George Washington University upper and middle management to ask for, and president of Commonwealth Land Title Insur­ Law School and who remains with ALTA as give serious consideration to, input from the ance Company. research assistant on a part-time basis.

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R. "Joe" Cantrell, CPIA A title agent for title people BOWLING INTERVIEW- a committee. Members of the committee are large areas of land and most of the potentially Continued from page 9 always aware of the fine line that must be serious claims have been successfully de­ walked between producing a saleable product fended. The two largest claims, the Oneida and introducing new coverage that causes an claim in New York and the Catawba claim in unacceptably high volume of claims. South Carolina, have been won in the lower GG: As you know, the ALTA Title Insurance GG: Besides the customer input of life and courts and they should be upheld on appeal. It Forms Committee has completed a three-year lender counsel just mentioned, as well as that would appear that any valid tribal claims in the project culminating in extensive revision and of other market groups, do you see a need for future should be settled by government re­ updating of the title insurance forms of the closer relations between them and ALTA that sponse rather than by the taking of private Association that are used by member under­ might extend to their respective professional lands by the tribes. writers on a voluntary basis. Did the work and trade associations? GG: This year has seen a historic effort to involved indicate future directions in title cov­ MB: ALTA Associate members who are life bring affordable and continually available er­ erage as sought by customer groups? and lender counsel have organized into groups rors and omissions insurance to ALTA Active MB: There was the traditional pull for ex­ that meet during our conventions, and this is and Associate members. What future impact pansion of coverage, particularly where new very helpful. It may be that other groups do you see from offering E&O coverage title problems have arisen. A good example is would find it beneficial to do likewise. Asso­ through membership in the Association? coverage afforded under the new form for haz­ ciate members could be useful in lending their MB: The establishment through ALTA of an ardous waste liens. Current policy coverage individual expertise to ALTA committees errors and omissions insurance program in represents a compromise between the title when matters in their respective fields are which Association members are stockholders industry and lender counsel. As new title prob­ being considered. From time to time, Asso­ will provide stability in the availability of cov­ lems continue to emerge, corresponding re­ ciate members have made contributions erage that was not experienced previously. quests for coverage can be expected. The through appearing in presentations during This will mean a more secure title industry troublesome area of hoped-for coverage lies in ALTA meetings. While a concerted effort was and our customers will benefit from this devel­ insuring against defects which may arise after made to keep customer groups apprised dur­ opment. the effective date of the policy, a risk not ing the recent ALTA forms project, some indi­ GG: Over the years, ALTA leaders have em­ within the original purview of title insurance. viduals felt they should have had greater in­ phasized support from the national Associa­ GG: There has been a philosophy expressed put. We must be diligent in making certain tion for affiliated regional and state title asso­ by some in the title insurance business that that our Associate members and customers ciations. How would you assess what ALTA roughly translates as, "Give the customer have an opportunity to provide their com­ currently does for its affiliates? what he wants and charge for it-or someone ments, and that they are well aware we are MB: ALTA has increased its support for else will." Do you feel that adherence to this open about our business. And, we need to cul­ affiliates over the past few years and I believe approach will eventually change the basic na­ tivate closer relationships with customer asso­ this will continue. The association manage­ ture of title insurance? ciations such as the Mortgage Bankers Asso­ ment seminar for affiliate officers and execu­ MB: We have seen a fundamental change in ciation of America, National Association of tives at ALTA Conventions is a step in the the concept of title insurance coverage since Realtors, and so forth. right direction and perhaps can be expanded the turn of the century, and this probably will GG: From time to time over the years, to other times and places. Perhaps we can continue. Coverage and risks have expanded. I ALTA has continued to file amicus curiae assist affiliates in areas where they have prior­ don't think we will reach a point where we can briefs in legal proceedings with important im­ ity needs. Recruiting and helping develop con­ put a stop to it, because our customers expect plications for the title industry. A recent ex­ vention programs are but two possibilities. title coverage for new risks when they begin ample, of course, is the ALTA amicus brief GG: There is a widely-held view among to appear. These new risks have to be met on accepted by the United States Supreme Court ALTA members that the title industry and its an individual basis, and coverage has to be in Phillips Petroleum v. State of Mississippi, work are inadequately understood by impor­ developed through experience. Underwriter a case dealing with establishment of state sov­ tant professionals in the market who deal with companies have always provided varying cov­ ereign title in wetlands areas. Do you envision title services regularly, and by home buyers, erages, and continue to do so. Coverage of the filing of amicus briefs to be an ongoing who have been known to register misinformed new risks will be worked out individually and I activity of significance in the future? complaints with legislators, regulators and don't foresee sudden, sweeping changes. It MB: We have been circumspect in our deci­ media. What is your view regarding ALTA will be evolutionary rather than revolutionary. sions to file amicus briefs in the past, and I responsibility when it comes to misunder­ GG: Your ALTA service includes 12 years as believe we will continue to file them when an standing of the title business by market and a member of the Forms Committee-10 as important real estate or insurance matter is home buyer publics? chairman. In view of the varying approaches before an appellate court. These ALTA briefs MB: Those active in ALTA have realized for to title coverage among underwriters you demonstrate to the courts that matters at some time that the Association needs to be have just described, reaching agreement hand are important and have widespread sig­ involved in educating the public-including within the committee on new forms and nificance. We have often been told by counsel real estate professionals-regarding the changes in existing ones suggests an impres­ that our amicus briefs are especially well pre­ value of title insurance and the protection that sive ability to compromise. pared and add much to arguments being it furnishes. The ALTA Public Relations Com­ MB: Forms developed within the committee made. This is a good example of an ALTA mittee has used the media for this educational usually result from a very studied compromise activity at the Association level that benefits purpose, including radio spot announcements. based on a knowledge of real estate law the membership-which individual members We now are beginning a more concerted ac­ around the country, how investments are cannot readily conduct. tion, through joint effort by the Public Rela­ made and transactions are closed, what kinds GG: What is your view of the Indian land tions Committee and Education Committee, of coverage our customers require, and the claims problem around the country? to provide educational opportunities for the views of individual committee members on MB: Defending their insureds against Indian public and our customers to better understand what insurance the title industry should pro­ land claims has been very expensive for title the title business. We certainly have the pro­ vide. Once you throw all that together, it takes insurance companies. However, at the pres­ fessional expertise to put on seminars for such a real compromise of ideas to be successful as ent time, Indian tribes have not been awarded customer groups as attorneys, real estate bro-

29 kers and mortgage lenders, in the areas of real estate law and title insurance. Any effort we can make to educate legislators and regulators certainly will be a plus. GG: There has been growing concentration in recent years on ALTA education for title managers. You have been active in this effort. ALTA has embarked on a program where re­ gional seminars for title managers are offered around the country on a continuing basis. What is your view on management education as an ongoing priority for the Association? MB: In my opinion, one of the top priorities for the Association is in the educational field and I intend to make this a primary concern of my administration. I have discussed the need for education about title insurance among leg­ islators, regulators, customers and the gen­ eral public. ALTA members need to have a good understanding of new or newly amended title insurance policy forms, coverages, and Marvin Bowling, ALTA president, talks with Mike Goodin, Association executive vice presi­ real estate law. Also, we need to continue our dent. management workshops and seminars to meet little the challenges of our ever-changing business. MB: ALTA exists for the purpose of furnish­ mittee couJd be said to attract relatively in impor­ ALTA has done a fine job in the initiation of ing services for its members, and shouJd con­ day-to-day attention-yet engage the title industry. educational activity in these areas. It remains tinue to improve those now available and ex­ tant activity that benefits in the way for us to expand, refine and coordinate this pand as future needs indicate. Any proposed Do you see a need for any change committees ongoing work. new service of course must be examined from these and comparably-structured GG: Along the same lines, the correspon­ the standpoint of its financial feasibility and operate? functions, dence courses of The Land Title Institute con­ extent of benefit. In my opinion, excellent ser­ MB: They all perform important be high­ tinue to be popuJar for employee education vices now are being offered by ALTA and and perhaps their reports shouJd change in the among title companies. Do you see the LTI these will improve. I hope the membership lighted more. I see no need for program as an integral part of the educational will Jet me know from time to time on what way they operate. it seems priority that you mention? services we shouJd properly provide, and Jet GG: From your previous remarks, the MB: Certainly. Our overall educational effort me have their critiques on existing services. clear that ALTA has members throughout in the activ­ shouJd not only include seminars, workshops GG: The ALTA Research Committee is at country who want to be involved you agree? and correspondence courses-but audio vi­ work on a title insurance Joss study, which for ity of their Association. Do the commit­ sual instruction, bulletins, brochures and the first time will provide industry-level statis­ MB: Recently, I went through 1987-88 newsletters that keep members current on a tics on losses by policy year. This study is tee appointment process as incoming was very im­ panoply of subjects. expected to be widely usefuJ. Do you see other president of our Association. I of re­ GG: I assume you feel the educational um­ areas where ALTA research capability shouJd pressed with the volume and quality for brella shouJd extend to land title automation, be concentrated? sponse from members who volunteered to my where the ALTA Land Title Systems Com­ MB: The claims statistics in the loss study ALTA committee service in response is there was mittee now has a full agenda when it comes to certainly will be helpfuJ in showing that the written notice. My only regret roster to keeping Association members informed on im­ protection of title insurance is very real, and not enough room on the committee to serve. We portant developments. that our coverage is quite meaningfuJ to the appoint everyone who wanted willing to MB: There's no question but that automa­ insureds. Profitability studies have been very have a good group of people who are their help. tion is a sine qua non for our Association be­ helpfuJ and the Research Committee Fact work, and I feel a great need for emphasis has cause our industry is in the record gathering Book shouJd be continued. It wouJd be inter­ GG: In recent years, more Conventions and information producing business, and auto­ esting to collect statistics on the use of title been placed on upgrading ALTA accompany manage­ mation certainly lends itself to that business. insurance that wouJd indicate the percentage -prominent speakers to leisure time There's no end to the changes in automation. of cases in which title insurance is ordered as ment education, an improved activity Those of us who think things are about as protection in real estate investments. We are agenda, and a stronger spouse/guest continuing this ap­ automated as they can get are wrong. New aware that market areas exist where the use scheduJe. Do you favor ideas are born every day in the technology. It of title insurance is near 100 percent-and proach? three primary will definitely be an ongoing service for ALTA that a Jess impressive use figure exists in MB: Our Conventions have education and con­ to remain current on automation develop­ other locales. functions: entertainment, The goal is placing ments and what they mean to the title indus­ GG: The ALTA Liaison Committee with the ducting ALTA business. balance. We are do­ try, as well as whether they are economically Commission on Uniform Laws couJd be char­ those functions in proper of Convention feasible. We will be involved in automation for acterized as a group that works outside the ing a better job; the caliber quality of Convention pro­ a long time to come. limelight much of the time. Yet, the commit­ speakers and the in recent GG: Your preceding comments clearly indi­ tee performs an essential function, in the view grams have improved substantially in this direction. cate an active ALTA commitment to provid­ of those familiar with its operation. Similarly, years and we shouJd continue in the title industry ing services for members. What is your view the Association Committee on Improvement GG: What major changes and how do you on the range of services currently offered by of Land Title Records, State Legislative and do you see on the horizon, ALTA? the Association? Regulatory Committee, and Judiciary Com- think these will affect

30 MB: Title in surers will continue to merge MANAGEMENT - Continued from page 23 It is important as you use these behaviors to with each other and there will be an accelera­ do so with a calm, even tone of voice and with tion in acquisition of agencies by insurers. The the person who has just finished talking, that an open, receptive posture and gestures. agency network will continue to proliferate you have heard the whole message. Active listening sounds relatively simple but we will see an increasing tendency toward A simple way to get yourself into the habit and easy. In fact, it is a hard set of behaviors the opening of branch offices through these of paraphrasing and summarizing is to use a for most of us to produce, because it runs agency acquisitions. While we may expect standard opening like, "What I hear you say­ counter to our culture. Most of our cultural more involvement in our business by state ing is .. . ," "You're saying that. . . ," or, "To and academic training has been in how to talk, regulatory bodies in this era of growing gov­ summarize what you're saying then .... " not how to listen. It is especially hard when ernmental attention, we may find that the in­ you are involved in conflict, under stress, and creased presence comes from the federal level 5. ENCOURAGING: People need feed­ are trying to resolve it. If you don't already instead. ALTA will continue to provide back, and are often encouraged to open up have the skill, it will take some concentration needed services to its members, with the em­ and continue talking when the listener nods and effort to learn it. However, it is a learnable phasis on dealing with government and on hisfher head and makes encouraging sounds skill , and one of the most powerful and produc­ educational resources. Through educational such as "Yes," "I see," "Uh-huh" (with a tive communication behaviors you can use. programs and public relations effort, the ex­ rising inflection), "Go on, please," and, pertise and productivity of our members will "Tell me more." Seven Steps, 'Win-Win' Resolution increase. Recent impetus has been brought to The more you know what your predominant the work by adding a director of education and CONCLUSION: These, then, are the ele­ attitudes are and the more you know how to membership services to the ALTA staff. The ments that make up active listening: listen effectively, the more ready you are to Government Affairs Committee, general Questioning use the "win-win" approach to problem solv­ counsel and director of government relations Using Silence ing. Each style has its value, but the style that will continue to enable the Association to as­ Gathering Facts is the toughest to do and has the longest last­ sist members with essential lobbying, and Paraphrasing and Summarizing ing value is "win-win." It is tough because it with regulatory liaison activity. Encouraging requires careful listening in tense situations that invite you to use simpler modes. It is longest lasting because it strives to make rela­ tionships stronger at the same time that con­ flict is being resolved. The steps in win-win conflict resolution are as follows: Step 1 -LISTEN TO WHAT THE OTHER ALTA PERSON IS THINKING, FEEL­ ING, AND NEEDING so carefully that you can accurately paraphrase what sfhe has said. Doing so will help Group you to separate your concerns from his/hers and to deal with the situation less personally. Step 2 -DEFINE THE PROBLEM IN Insurance TERMS OF THE NEEDS OF BOTH PARTIES. You should be able to end this phase with clear statement of the problem and your Formed in 1957 Trust needs: "In other words, you want/ need __ because __, and I want/need __ because --·" Full Range • Group Term Life • Comprehensive POSSIBLE SOLU­ Step 3 -GENERATE of Plans • Long Term Medical Expense TIONS without any evaluation or Disability • Dental Expense discussion. If things bog down, try re­ stating the problem and the need. Step 4 -EVALUATE AND TEST THE "Over 1,000 insured "The stability of the Ask Purchasing­ VARIOUS SOLUTIONS. employees guaran­ rates has made yourself what the advantages and dis­ PowerPlus tee the resources to budgeting much advantages of each solution are for Stability each party. Use such questions as: provide us with fair easier." "Will it be too difficult to imple­ and competitive in­ ment?"; "What obstacles are there?"; surance rates." "What resources are needed, and are they available?"; "Is it fair to both?" During the evaluation phase, you may Well-informed "The 4-member "Whether my ques­ fmd new solutions. Representation board, composed tion involves bill­ Step 5 -DECIDE ON A MUTUALLY AC­ of well-known, suc­ ings, claims, or ben­ CEPTABLE SOLUTION. Choose cessful ALTA mem­ efits, a group insur­ the one you can both support. Avoid bers, ensures the ance specialist will pushing one solution which the other Trust is always work to give me the party may agree to but not be enthu­ working in my answer - fast, and siastic about carrying out. best interest." to my complete IMPLE­ Step 6 - PLAN HOW YOU WILL satisfaction." MENT THE SOLUTION. Care­ fully spell out who will do what, how, by when. with what resources, and "When I need an­ "I can take as much Doing so may reveal other hidden is­ Toll-free waste time as I need to get sues and increase the chances of re­ Access swers, I don't solving them. time; I call my the answer to my Step 7- EVALUATE THE RESULTS. ALTA Trust repre­ question using the Agree on when you will meet to dis­ sentative- direct." toll-free number." cuss how things are going. Meet soon and frequently to forestall trouble and build trust. Review the process at the For More end to discuss how you could both Information 1-800-346-ALTA have done it better, and to acknowl­ Illinois residents cal/312-922-5000, collect edge your success. "Win-win" takes a lot of patience but the Administrator Underwriter payoff is very high. In sum, what happens in a conflict situation depends on the basic attitudes of those in­ volved, their skill in listening carefully to each mACH.,jPARHER .1 nc. other, and the degree to which they see con­ flict as an opportunity to strengthen working relationships.

32 Around the Nation

DURING CONVENTION Walton Elected New President of PLTA

The following individuals were elected new officers for 1987-88 by the membership of the Pennsylvania Land Title Association at its 66th Annual Meeting at Seven Springs, PA: President Herbert Walton, Ticor Title In­ surance Company; Vice President Albert Gibboni, Title USA Insurance Corporation of New York; Treasurer Sam Fe~guson Mus­ ser, Conestoga Title Insurance Company; Secretary J. William Cotter, Jr., T.A. Title Edward S. Schmidt (right) presented with "Distinguished Service Insurance Company; and, Executive Vice Award, 1987" ofPLTA by Selection Committee Chairman, Marvin New. It Walton President Albert Pentecost. is the highest honor bestowed by the PLTA.

Gibboni Musser

PLTA awarded five new professional certifications; "Certified Land Title Professional," (CLTP), and "Associate Land Title Professional," (ALTP). This year's recipients are: (left to right) Sam Ferguson Musser, Conestoga Title; H. David Lasseter, Stewart Title; Michael F. Frederick, Jr., First American Title; and Richard A. Angelo, American Title (not present-ALTP Kevin Boland, Pennsylvania Abstract Com­ Cotter Pentecost pany).

33 Mayo Tours Names in the News Rose Gardens Of Emerald Isle

Claudius Mayo, chairman of the board of Mayo Land Title Co. Inc., returned from a "pilgrimage" made to Ireland's illustrious rose gardens. While in the Emerald Isle, Mayo was escorted to the great rose gardens of Shannon, Kilarney, Blarney, and Dublin. When Industrial Valley Title Ticor Title Insurance arriving in Dublin, Mayo assumed the role as Insurance Company has Company has named one of the International Judges in the Final announced the Appoint­ Mark C. Wanich, III, Judging of the Queen's Trial Gardens at St. ment of Donald A. Ross vice president, National Anne's Park. Fifty judges from Australia, Can­ to senior vice president, Title Service Southeast regional manager, head­ ada, the U.S.A., England, Northern Ireland, Claymont, Delaware. d has quartered in Washington, Germany, and Ireland spent hours grading the Kevin B. Tolan been named branch man­ D.C. seventy varieties on trial. ager of the newly opened the gardens of the host Mayo also visited Ross Doylestown Branch, Wanich for the tour, Sean McCann, the "Mr. Rose Philadelphia Five County J . Bushnell Nielson, Man of Ireland," author of 20 books, editor of area. vice president of Ticor Ti­ the Irish Press, Dublin. tle Insurance, has been promoted to state man­ Industrial has promoted ager, Birmingham, MI. Marcia R. Taggart to the position of human re­ sources administrator, Margo Rosenthal Ti­ Philadelphia. Hannum joins Ticor Nielson tle as associate title coun­ sel, Birmingham, MI. Taggart Walsh Title Corpora­ tion has named Ronald G. Gandrud as vice pres­ The board of directors ident and general counsel. of Title USA announced William E. King, chair­ man, as president of Title Continental Title Insur­ USA Corporation. ance Company announces mar­ the appointment of Rosenthal keting representatives, Chicago Title Insurance Linda L. Interlante, Company has elected Burlington County Area, Sheldon Legator as vice NJ, and Thomas Chris­ president, Chicago. topher, Middlesex County Area, NJ. McCann (left) presents Mayo with a Betty Schall has been special hybridized variety of rose, elected vice president of and has been named grown by McCann himself. First American also an­ CTIC nounces the promotion of regional counsel for the Legator Richard A. Dickson to Pacific Northwest Region, vice president and state Seattle. manager for its New MLTA Honors Sorg operations. Hampshire The following people As 'Employee of Year' have received promotions John A. Buehler has at Chicago Title: Patrice Joyce Sorg has been Dickson been appointed to serve as Beyer, assistant escrow named as Employee of assistant vice president­ officer, Chicago; Kath­ the Year for the land ti­ employee benefits for the leen Bise, communica­ Schall Panorama tle industry in Montana. First American Title In­ tions officer, City, CA; Nancy New­ Sorg was honored dur­ surance Company, Ana­ heim. man Brown, associate ing the annual conven­ regional counsel, Cherry tion of the Montana Hill, NJ; William Land Title Association Parker S. Kennedy Burstein, office counsel, recently held in Kali­ was elected to the board Albany, NY; Norma L. spell. She is employed as the Escrow Manager of First American Finan­ Clucus, title operations at First Montana Title Company of Billings cial Corporation, and de­ officer, Sycamore, IL; and has served the land title industry for over clared a regular quarterly Margie Cox, residential Cox Dallas; Anna J. 15 years. Kennedy dividend. manager, Kotvis, manager, Agency Mark Naylor has been enue, Dallas, Texas, 75423. The phone Accounting, Chicago; promoted to vice presi­ number remains (214) 783-9300. Lester Morris, construc­ dent and controller of "The move to new quarters was necessi­ tion escrow officer, Chi­ Landmark Title Inc. tated by the increased size of our operations," cago; H. Kelley Ouzts, Naylor will be responsible said Senior Vice President and Regional Man­ manager, Atlanta office, for all accounting and fi­ ager, Win Myers. Atlanta. nancial functions for Land­ "We also have installed a mark's corporate head­ fax number-(214) 437-1736-to provide quarters in Manchester even better service to our customers." Peter E. Recklett has Naylor and satellite offices in Do­ been appointed regional ver, Portsmouth, Con­ agency coordinator and cord, and Londonderry, remains assistant vice NH; and Kennebunk, ME. American Title Opens president in CTIC's New Haven office. R. Bradley "Office of the Future" Runyan has been ap- John S. Stoeser has Recklett pointed assistant regional been named county man­ MIAMI, FL-Nearly 1,000 real estate rep­ counsel, Fairfax, VA. ager for Transamerica Ti­ resentatives from the Tampa Bay area joined tle Insurance Company for American Title their new Pierce County Insurance Company for the CTIC has appointed Stoeser operation, Tacoma, WA. grand opening of its "Office of the Future," a Ann Zimmemann as as­ 15,000-square-foot facility in Tampa. sistant vice president, The office is a prototype for title insurance Chicago. offices throughout the country. "It incorpo­ Lawyers Title Relocates rates the latest in sophisticated technology and Cindy Henretta has a strategically designed work flow pro­ Zimmerman been promoted to assis­ Raleigh Branch Office cess," according to Frank B. Glover, presi­ tant vice president, North dent of American Title. Division Manager of The North Raleigh branch of Lawyers Title The prototype grew out of a year-long American Realty Title As­ has moved to a permanent location at 4800 study of all internal operations at American surance Company's Six Forks Road, Suite 101, phone number Title. The office is designed to emphasize (ARTA) northern Frank­ (919) 783-5567. prompt and personal service, simplified title lin County area. ARTA The office is managed by Alice Murdock. processing, and a better response to changing also announces the ap­ Peter E. Powell is counsel for the North market demands. pointment of Scott S. Raleigh office. American Title Insurance Company, one of Shaeffer, director of AR­ TA's commercial depart­ the Meridian Bancorp's family of fmancial ser­ ment, and Mike Harlor, vice companies, serves the real estate indus­ manager of ARTA's West Commonwealth Relocates try in 45 states, the District of Columbia and Office. the Caribbean. American Title maintains a Southwest Regional Office network of 106 branch offices, some 3,500 policy writing agents and more than 10,000 Commonwealth Land Commonwealth Land Title Insurance Com­ approved attorneys. Title Insurance Company pany has relocated its Southwest Regional of­ The firm is the only nationwide title insur­ announces the appoint­ fice to Suite 330/B 133, 12225 Greenville Av- ance company based in Florida. ment of: Robert J. Hauser, Jr., to Connecti­ cut state manager, Hart­ ford. John J. Piccirillo has been promoted to as- Hauser sistant vice president, New York City; and Camille Semento Mas­ trianni was promoted to assistant vice president, New Haven.

Lana Miller joins American Title Insurance Company as vice presi­ dent, human resources.

Minnesota Title has named Rande K. Yeager as vice president­ operations. The appoint­ Frank B. Glover (left), president of American Title Insurance Company, pre­ ment was announced by pares to officially open the company's new "model office" in Tampa. Joining R. S. Cecchettini, execu­ him (left to right) are State Senator John Grant and Bo Cooksey, president of Yeager tive vice president. the Tampa Homebuilder's Association.

35 NEW ALTA MEMBERS (Recruiters names in parentheses)

ACTIVE Alabama Kansas Birmingham Title Company, Inc., Birmingham Greenwood Abstract Company, Emporia Oohn Land Title Company, Santa Fe (Robert M. Reeder, First American Title Ins. Co., Felder, Insured Titles, Inc., Overland Park, KS) Plains Title & Abstract, Inc., Clovis (David K. La­ Selma, AL) O'Rourke Title Company, Wichita nier, Lawyers Title Ins. Corp., Albuquerque, NM) Cambridge Title Agency, Inc., Birmingham (Eu­ The Centennial Abstract Company, Pittsburgh gene R. McCullough, Southern Title Insurance Co., New York Knoxville, TN) Maryland Blackstone Abstract Corp., Mineola (Harold S. First Mobile Title, Inc., Saraland (Robert M. Free State Title & Escrow, Inc., Crofton Oames H. Schwartz, First American Title Ins. Corp., Garden Reeder, First American Title Ins. Co., Selma, AL) McKillop, Ticor Title Ins. Co., Los Angeles, CA) City, NY) Marion Abstract & Title Company, Inc., Hamilton Monumental Title Corp., Severna Park Canal Country Abstract Corp., Albion (Bruce S. Bobo, Colbert Title Company, Tuscumbia, Commonwealth Abstract Company, Inc., Bronx AL) Massachusetts (Harold S. Schwartz, First American Title Ins. Southern Land Title, Inc., Fairhope (Robert Title Co., Inc., Natick (Malcolm S. Morris, Stewart Corp., Garden City, NY) Reeder, First American Title Ins. Co., Selma, AL) Title Ins. Co., Houston, TX) Custom Title Services, Inc., Staten Island Esquire Abstract Corp., Staten Island Arizona Michigan General Abstracting Co. of Staten Island, Inc., Executive Title Company, Tucson Marquette Abstract & Title Company, Marquette Staten Island (Brian Reardon, General Abstract Corp., Staten Island, NY) California Minnesota Metro Land Services, Inc., New York Stewart Title of Modesto, Modesto (Malcolm S. Independent Abstracting Services, Inc., Minneapo­ Provost & Redgrave Title Services, Inc., Ballston Morris, Stewart Title Ins. Co., Houston, TX) lis Spa (Helen Powell, Commonwealth Land Title Ins. Transcounty Title Company, Merced LeCenter Independent Abstract Company, Inc., Le Co., New York, NY) Center (A. L. Winczewski, Jr., Chicago Title Ins. Shaker Abstract Corp., Albany Colorado Co., Bloomington, MN) Ultimate Land Title Services, New York (Richard Abstract & Title Co. of Mesa, Inc., Grand junction Mahnomen County Abstract Company, Mahnomen Marcus, Commonwealth Land Title Ins. Co., New Pagosa Springs Title Company, Pagosa Springs (A. L. Winczewski, Jr., Chicago Title Ins. Co., Bloo­ York, NY) Valley Title Co. of Pueblo, Inc., Pueblo mington, MN) Northwest Title & Escrow Corp., White Bear Lake Ohio Florida Rochester Title & Escrow Company, Inc., Roches­ Berks Title Agency, Inc., Akron (Orville Jones, Alpha Title Company, Pompano Beach 0. H. "Skip" ter Commerce Title Agency, Akron, OH) Boos, First American Title Ins. Co., Plantation, FL) Cardinal Title Insurance Agency, Inc., Columbus Brewer Title & Abstract, Inc., Destin 0. H. "Skip" Mississippi (Hylas Hilliard, Columbus, OH) Boos, First American Title Ins. Co., Plantation, FL) Assured Title Services, Inc., Jackson Oames L. Bo­ Continental Title Agency Corp., Cleveland Commerce Title Insurance Agency of Florida, Inc., ren, Jr., Mid-South Title Ins. Corp., Memphis, TN) Mahoning County Title Company, Youngstown Apollo Beach Oames W. Mumaw, Ohio Bar Title Ins. Co., Youngs­ Fidelity Title & Guaranty Company, Orlando (David town, OH) Missouri MK Land Title Agency, Inc., Ravenna (Douglas R. Porter, Transamerica Title Ins. Co., Los Ange­ Cameron Title Company, Cameron (Borden Stoll, Taylor, SAFECO Title Ins. Co., Columbus, OH) les, CA) Clinton County Abstract Co., Plattsburg, MO) The Guarantee Title & Trust Company, Cincinnati Five Points Title Services Company, Miami Franklin County Title Company, Union (Cara Guaranty Title Company of Palatka, Palatka Detring, St. Francois County Abstract Co., Far­ Record Research, Inc., Bradenton Oohn 0. Radcliff, mington, MO) Oregon Attorney's Title Ins. Fund, Sarasota, FL) Eastern Oregon Title, Inc., LaGrande (Larry Touchstone Title Services, Inc., Boca Raton Montana Feagans, First American Title Ins. Co., Portland, Guardian Title, Bozeman (Robert J. Field, First OR) Idaho Montana Title Co. of Billings, Billings, MT) Adams County Abstract, Council Pennsylvania Sandpoint Title Insurance, Inc., Sandpoint (Terry Nebraska Abstracting Company of Northampton County, Eas­ Gonzales, First American Title Insurance Company, Cornhusker Land Title Company, Omaha ton Sandpoint, ID) Abstracting Company of York County, York (Ken Westin Title, Inc., Soda Springs Nevada Kraemer, Conestoga Title Ins. Co., Lancaster, PA) Frontier Title Company, Elko (Gerald L. Lawhun, American Land Abstract Company, Pittsburgh Illinois Western Title Company, Inc., Reno, NV) (Paul F. Dickard, Jr., Transamerica Title Ins. Co., Burtschi Brothers & Company, Vandalia Houston, TX) City-Suburban Title Company, Wilmette Oohn New Hampshire Dallys Associates, Ltd., Blue Bell (Malcolm S. Mor­ Culley, Chicago Title Insurance Company, Chicago, Central & Northern Title Company, Inc., Laconia ris, Stewart Title Ins. Co., Houston, TX) IL) Intercounty Abstract Company, Manchester (Mi­ Spectrum Abstract Corp., East Stroudsburg Fort Dearborn Land Title Company, Glenview chael K. Massey, Landmark Title, Inc., Manchester, Town & Country Abstract, Ltd., Limerick Ooseph NH) T. Mulqueeny, American Title Ins. Co., Bryn Mawr, Indiana PA) Abstract & Title Services of Boone County, Inc., New Jersey Lebanon First Jersey Title Services, Inc., Paramus Tennessee Benton County Title Company, Inc., Fowler Park Avenue Title Agency, South Plainfield Brokers Title, Inc., Sevierville (Randy W. Hardison, Massey Abstract Inc., Covington (Dean I. Williams, Regency Title and Abstract Agency, Inc., Hacken­ Title & Escrow of Middle TN, Columbia, TN) Lawyers Title Ins. Corp., Indianapolis, IN) sack Mid America Title Agency, Memphis (Thomas Sharp-Mitchell Abstract Company, Inc., Lafayette The Guardian Title Agency, Inc., Cherry Hill (David Pelham, Stewart Title Guaranty Co., Nashville, TN) O. David Clossin, Chicago Title Ins. Co., Indianapo­ Lasseter, Stewart Title Guaranty Company, Belle National Title Insurance Agency, Inc., Chattanooga lis, IN) Mead, NJ) O.L. Boren, Jr., Mid-South Title Ins. Corp., Mem­ phis, TN) Iowa New Mexico Stewart Title of Memphis, Memphis (Malcolm S. Mineral Point Abstract & Title Company, Mineral Grant County Title Company, Silver City Ooe Bob Morris, Stewart Title Ins. Co., Houston, TX) Point Cave, Ticor Title Ins. Co., Albuquerque, NM) Title Escrow of Chattanooga, Inc., Chattanooga

36 (Malcolm S. Morris, Stewart Title Ins. Co., Hous­ Title Consultants, Inc., Portage Oohn Bethel, First North Carolina ton, TX) American Title Ins. Co. of Mid-America, Madison, Charles E. Melvin, Jr., Greensboro Gack L. Donnell, Volunteer Title Company, Inc., Waverly WI) Greensboro, NC) Texas Ohio Dallas Title Company, Dallas Gohn R. Cathey, The ASSOCIATE Michael F. Lorber, Cleveland Bryan County Abstract Co., Durant, OK) Elliott & Waldron Abstract Company of Palo Pinto, Arizona Pennsylvania Mineral Wells Data Services, Inc., Tucson (Robert ]. Beck, Title David C. Auten, Esq., Philadelphia (Ruth S. Perfido, Jackson Title Company, Inc., Kaufman Guaranty Agency of Arizona, Tucson, AZ) Esq., Pittsburgh, PA) Scurry County Abstract Company, Snyder M. Elvin Byler, Esq., Lancaster (Ken Kramer, Con­ California estoga Title Ins. Co., Lancaster, PA) Virginia American Savings & Loan Association, Stockton Associated Abstract, Inc., Fairfax (Dave Lasseter, Eugene]. Chiarelli, San Francisco Gohn L. Hosack, Tennessee Stewart Title Guaranty Co., Belle Mead, NJ) Esq., Tobin & Tobin, San Francisco, CA) Walter Lee Davis, Jr., Johnson City (Pamela L. Professional Title Services, Inc., Leesburg Gohn Sean E. McCarthy, Esq., Sacramento Zimmerman, Commonwealth Land Title Ins. Co., Waters, Commonwealth Land Title Ins. Co., Fair­ Nashville, TN) fax, VA) Florida William Jerry Flippin, Milan Games L. Boren, Jr., Stewart Title of Greater Washington, Inc., Vienna Richard M. Brenner, Miami (Thomas Reeder, Com­ Mid-South Title Ins. Corp., Memphis, TN) (Malcolm S. Morris, Stewart Title Ins. Co., Hous­ monwealth Land Title Ins. Co., Miami, FL) ton, TX) Texas American Tysons Title Insurance Agency, Vienna (Susie Kentucky Surplus Underwriters Corp., Barker Ken Bernard, Miller, Columbia Real Estate, Vienna, VA) John E. Deans, Louisville Dallas Daniel L. Lowry, Fort Worth (Billie J. Ellis, Jr. , Washington Louisiana Kelly, Appleman, Hart & Hallman, Fort Worth, TX) Columbia County Title Company, Dayton Regel L. Bisso, New Orleans (Kevin Toups, Stewart Washington Home Title Company of Mason County, Shelton Title Guaranty Co., Kenner, LA) Dennis E. McLean, Seattle (David W. Thorne, Seat­ Floyd A. Roddy, Lake Charles (Lloyd Draper, Com­ tle, WA) Wisconsin monwealth Land Title Ins. Co., Dallas, TX) Douglas J. Smart, Seattle G. Dimmitt Smith, Abstracts, Smith, Inc., River Falls (Carrie Hoyer, Wiscon­ Smart, Hancock & Tabler, Seattle, WA) sin Title Service Co., Waukesha, WI) Michigan Softech, Inc., Tacoma Guaranty Title Services, Inc., Fond du Lac Games Russell W. Hamill, Esq., Meridian G.L. Boren, Jr., Erwin Wood, Bellevue (Thomas ]. Brusca, First Vance, Jefferson County Abstract Co., Inc., Jeffer­ Mid-South Title Ins. Corp., Memphis, TN) American Title Ins. Co., Seattle, WA) son, WI) J & D Abstract Service, Inc., Arcadia New York Wisconsin Lafayette County Abstract & Title, Inc., Darlington James H. Fisher, Kingston Dennis P. Dolan, Madison

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Tracts SCALE: 1 in = 1888 ft .. /[\' Aaron Burr Survey, A- 2223 Harris County, Texas The Japanese have MITI. It's the same sort of KIAM-Contlnuedfrompage 13 planning from the top. thing. It happens to be an economic arm of the political government, but it's long-range planning. And we in this nation have gone to short­ dike. How many times have you ever witnessed with around? We'd better leave. We've children to feed, a mother-in-law to term fingers in the any statement by an individual or com­ support." these takeovers or mergers be better off because of what is going to I sat down to do something drastic. Create a new type of company pany, that the employees will it, because nobody thinks of them any more. that would be so enticing that people would be fighting to join it rather happen? You don't see They are our "shareholders!" So, when I than leaving it. But we do at Remington. I met on the factory floor with everybody Several things were put in perspective, but the overriding thing arrived there, every month the chief financial officer, the manu­ accomplished was producing a company which, in the workplace­ within the company. We brought ... we all went to the factory floor and I told factory, accounting, marketing-had on-the-job equality. facturing vice president them how were doing. I still do it, but on a quarterly basis. Employee Recognition to ~we leveraged our assets and tried There are other things. We give recognition. We give recognition at overcotne our weaknesses.,, the lowest possible level. If you have a large organization, with a chief financial officer who did something great, you congratulate him when you don't really have to. He knows it. And, he knows he did a good job. seek out old Charlie, who has been cleaning the parking lot Even today, there is no visible difference among any of the Reming­ But, you for 16 years, keeping it spotless of paper and cigarette ton employees-everybody flies tourist. There is no executive wash­ at Remington into the maintenance department, find Charlie and say, "I room, no executive cafeteria. In fact, there is no cafeteria. Where do butts. You go you did it. But I just drove in the parking lot and there people eat? At their workbenches. don't know how of paper. It's spotless. Thank you, Charlie. Everyone in this Where do I eat?-at my desk. In the seven years I've been in isn't a piece what you do for us. How long have you been with Bridgeport, I've gone out to lunch three times. company appreciates Sixteen years. Don't ever leave us." And what about participatory programs, which make people feel like us, Charlie? to this man? Of course. So reward at the lowest. the company is theirs-that there is no difference between the factory Is that meaningful equal. and office? Profit sharing was implemented. Keep everybody our company (the smallest in the global business of We had a six-year vesting. Most companies require more time on the As a result, shaving), is the fastest growing company in our field. job for vesting. I don't care how small your organizations are, give the electric do we compete with in this global economy? other workers a piece of the action, even if it's tiny. Let them feel Who industry are lucky because you are insulated. The they're part of you and your company. You in the title going to come in and open up offices to do what you We have no pension plan. I tell people, "If you have to wait until65 to Japanese are not certainly have come into the shaver business. retire and if you haven't saved enough with us, then you shouldn't be do. The Japanese going to succeed, we have to compete on a global here." And, if our nation is to have to generate enough wealth so that people We give individual incentives. That is meaningful to everybody in the basis. We are going you can stay in business. Because, if we stagnate company. can buy real estate so are going to stagnate, and so will the rest of us. Unheard of, yes, but we have no unions. How is a union going to as a nation, you competitor, Matsushita, is at $42 billion. They don't just come into our company that pays a base salary of $7.00 an hour, when Our largest Next competitor-they make Panasonic and Technics. competing base salaries are $8.00 an hour? Very easily, right? make shavers. Phillips, very small company out of Holland, $27 The base salary in our company is only two-thirds of the earnings of Next competitor, sales, net worth: $8 billion. Remington net worth, when the people in the factory area. Because we have incentives so that the billion annual other third puts them at close to ten bucks. They make more money for we started, $500,000. Gillette. They own Braun. Annual sales: $3V2 bil­ the company, and the profit sharing goes up. Next competitor, our sales volume was $43 million. The other thing we do is to treat our employees as though they are lion. My first year, shareholders. Nationally, we no longer have investors. In the old days, back when our country was founded, when a family lived on a little stream up in New Hampshire or Massachusetts, they had the idea of c'You show tne an entrepreneur . .. building a gristmill on their property so they could grind com for the I wiU show community. Where did they go when they didn't have enough finances? who has never failed and They went to their neighbors, where all put money in working coopera­ you sotnebody who has never tried tively to make it a success. When the neighbor died, he left the prop­ anything. ,, erty to his children. They became investors in the business and the future of their com­ munity. We had a quality product. Test after test-number one, Consumers What do we have today? We have a pension fund manager who, at the etc. We had a company that had a dream and a vision with end of 90 days, is going to be measured as to whether his is a successful Report, people who thought they owned the company. We are in the book, One pension fund. So, what does he do? If he has an inkling that maybe a Best Companies to Work for in America and are the smallest business wasn't what he thought it was, he dumps it. The stock goes Hundred featured. We are the only leveraged buyout. Who are the down. company IBM, Hewlett Packard, Dayton Hudson. How did we do What does that do to the managers of these businesses? They are 90- others-3M, it? Quality product and people. That's really it. And ideas. Ideas. day wonders. Public companies today plan their earnings on a 90-day the projections of a financial commu­ basis because they have to meet A Philosophical Approach nity. They know, if they don't, their stock is going to be dumped-they all of you can do. We leveraged our assets and will be vulnerable to takeover. So we don't have, in the public sector We did something that weaknesses. When I started out, I wanted to get today, the luxury of investors, or long-range corporate planning. tried to overcome our on my back, no question about it. And, we are dealing with nations. The communist system is all ahead. I had a monkey

38 I looked at life and realized I am going to work more in my life than there was somebody from the assembly line, a vice president of mar­ any other activity except sleeping. What other single thing do you do keting, etc., and a lot of ideas. I wasn't there, but heard about it more than work, except sleep? Nothing! afterwards. Now, if I was going to spend the majority of my life working, why not In this meeting, a little girl from the factory raised her hand. She treat it as a game? A game you win. Winning means being proud of what said, three weeks ago she had an operation and needed to be shaved. As you have done, having a sense of accomplishment, so that at the end of it turned out, they nicked her and the area became infected. She the day, you can look back and say, "Yeah, I did a quality job today." couldn't have the operation. That has been my direction. Could we make a shaver that could prevent that? We developed a With that in mind, I used to sit and look at my personal balance sheet, product and put it in the St. Vincent's Hospital, in Bridgeport, and a few listing my strengths and my weaknesses. There were no dollar signs. surrounding hospitals. Nothing. What assets and liabilities did I have? I tried to be as honest as There was a salesman for 3-M (the largest seller of surgical tapes) I could in my assessment. who happened to see the product when he was visiting Bridgeport. He On the left hand side were the assets. On the right hand side were the liabilities. I can tell you one liability. I hate paperwork. I hate administration. I would work to overcome that. I would do it first before I got to the more pleasurable things that I liked. "You have to carry the flag of What were some of my strengths? For one, I was willing to work­ innovation, and ideas, and creativity.,, that was a great strength. Second, I felt an innate sense of creativity. So, I would try to keep thought processes going. You could do the same thing in a business. You all have intangible called his office, and the next thing we knew, a group from 3-M came assets within your own businesses. You have a location. Maybe that is down. an asset. You have access to records and files which are unique to you. In 1986, at the National Operating Room Nurses convention, the In the Remington situation, what were our strengths? We had an 3-M surgical clipper by Remington was introduced. It has a disposable international name. We had a quality product. We ended up with a head, which can be sterilized, so that each patient gets his own blade. personality which we didn't have when we started. And we advertised The patient is protected against nicking. We are currently manufactur­ very heavily. The other strength was we were entrepreneurial. ing 200,000 blades a month. It is going global and, in another two or What were our weaknesses? We were a peanut against giants. We three years, will be much more profitable than our shaver business. were undercapitalized. We didn't have money to invest or explore new An idea. Now, what product was utilized? The base was the ladies' territory. We had one plant at Bridgeport. You might say that was an shaver, all we did was change the head. Total investment was tooling asset. But as the dollar grew in value against the world, we had one costs of $50,000, plus the time. We had to go through clinicals but 3-M heck of a time. You realize this balance of trade business. paid for that. Our company is unique. Most companies in the export business have I wrote a book. Why did I write a book? Well, I wanted to help other opened up factories overseas, so if the currency swings one way or people-young folks particularly, but I knew it would give exposure to another, they can produce in Singapore, or in France and balance the Remington. How much money does it cost to write a book? Zip. Just currency. time and energy. The book was written for that reason and I could go We cannot. We ship from Bridgeport-one hundred percent made in on to other products. the USA. Therefore, that becomes a tremendous liability or a tremen­ Now, we are just a microcosm in this country. But we have within dous asset. Over the past four years , it has been an enormous liability. our company, people who feel they want to succeed. Everyone has Taking those major points, we tried to build businesses without people within your respective companies you want to stay with you. investment. How do you build businesses without putting money into You want them to feel that they are part of an organization. Make them? Through ideas. Through leveraging off our strengths. them. Give them a piece of the action. Let them feel their efforts will be Now, all of you can put a balance sheet down and list your assets and rewarded. your liabilities. What do you have? Have you a guy who is only working In the years ahead, we are going to have a heck of a time. The reason 50 percent of the time? If so, what can you do with him for the other 50 for this being is we have forgotten in many areas, what it took to build percent of the time? He is an asset sitting there. Utilize him. If you have this society. It took a lot of hard work and entrepreneurs crossing the computers in your organization, why not use your computers, and rent country in wagon trains, opening up new areas, willing to take chances. out your services? Every single thing you have can be maximized. We have to build a society of people who are willing to commit Here are some examples of what we have done with no money. First, themselves to the success of whatever they do. We have to develop we had service centers-19 of them around the United States. Our people who are looking for new ideas. shavers were so good, we weren't repairing any and we were losing our There are a few other things. You know I have experienced many shirt. And we had long-term leases, largely in downtown cities. We failures. You show me an entrepreneur, or anybody who has never were losing perhaps $400,000 a year on these service centers. failed, and I'll show you somebody who's never tried anything. My most Well, I looked at it and said, "We have real estate. We have people. notable failure was when I had the opportunity to seize Velcro and We have some traffic. Why don't we take those and put them to­ didn't. I was younger then and wasn't as risk-oriented. gether?" So, we started to look at what kind of traffic we had. I also brought out a product, which probably was the worst product I We had mostly male traffic in downtown sections. Men shave every ever tested-a male girdle. It was my idea. And, ladies, I sympathize day. Therefore, men wear out shavers quicker than women. That's with you. When you take those girdles off and you have to scratch, holy why you have more traffic. mackerel! We had a great name. I thought the name was going to carry the product, because Employees Generate Ideas we called it the "pot holder." I am proud of what Remington has done. And many people would The other thing, very simple, was to make our people think the same say, well, that's a fluke. We took over a padlocked necktie company in way. Once a week , we took 12 people- a person from the factory floor, Wilmington, North Carolina, called Fran's Neckware. The sheriff had a person from accounting. (it didn't make any difference), and put them padlocked it. Today, it's the second largest necktie company in the in a room and gave them a subject. We gave them a week ahead of time United States. I've taken over seven companies. Today, we do $300 to think about the subject. One day the subject was: How could we million, of which the product you know-Remington-counts for about leverage our shaving technology into other areas? In that meeting, $170 million. The others are products you would not be aware of, like

39 through as quickly as the Arnie necktie at Sears. and work itself is not something to be gotten of our society. It can be done. But it's important to know that you can do it too. You possible. But that it is important for the survival reminded of Don Qui­ can do it in your business but, more importantly, you are people who In the novel, Cyrano de Bergerac, Cyrano is swing around stand for something in your communities. Aside from making the effort xote who says that windmills, if you fight with them, will within your own company, your own organization, you have to carry the their long arms and cast you down into the mire. "Or up among the flag of entrepreneurship, of innovation, ideas, and creativity. You have Cyrano, the eternal entrepreneur, responds, to spread the word that quality work is not something to be shunned, stars."

For a limited time, any of the VCRs of ALTA films listed below may be ordered at a 50 percent reduction in the price shown in the advertise­ ment. Please enclose check as indicated, and refer to this listing in your order. You will be billed for postage.

For Upgrading Your Automation, The ALTA Land Title Systems Committee Offers The Vendor Automation Software Library

These categories are available Mr. Megabyte says: Help your automation get a • Title Plant Maintenance running start-use the library • Preparing Title Policies • General Accounting • Closing Document Preparation

Send $5 for each category desired and make check payable to American Land Title Association; if your category is not listed above, please specify others and you will be sent any information available or your money will be refunded. Address orders to Vendor Automation Library, American Land Title Association, Suite 705, 1828 L Street, N.W., Washington, D.C. 20036.

40 COMING ... An All-New

eginning with our January-February, 1988, issue, Title News will offer an entirely new look-designed in keeping with the objective of ALTA leaders to enhance the magazine as a publication that every member of the Association will want to pick up and read. Besides a new brightness in appearance brought by a complete physical redesign, the magazine will emphasize better readability and more features while continuing its informative content. These improvements are made with you - the ALTA membership-in mind. After reading the inaugural issue, please feel free to write the editors with your reaction to the new editorial profile. Your views are important. We want to hear from you. Just address your comments to Title News Editors, American Land Title Association, Suite 705, 1828 L Street, N.W. , Washington, D.C. 20036. See you next issue-with the all-new Title News.

\'(lr._ ll!ou!Jthoc6"'411l.tooo~ Jromtfll'-!ol(lo"'l\.IOWUPndllf'~JOII Tlllrf-c,ft al'"""dt ~; .....lui nolt B bd.tlond;.llulhf,.. Jrr­ 'ButbiMI.IIr'fi!Vn~tCotft. l'lltlH.etdliiPo...., hnolo~1-afld flondt.. "P""IAltM Ill WICIU•wlll d(o)HI,W\ol'u'fol'l~ltll'ruleo/ IIIIJliiUin!l\-1ttW.cu·.gas.,..nt~~Lr.~ fllalll!)llll'\lllj~~IQQI!ft ~-&1<~~11'1 tll!mbfn n.. r audk t n~ n,~~int.M'mtUrblll{•-..nna~ f~'t'llth).toiOd.anclllli•Bott Foreman Heard: -lplll'll!'d~-- .... -IIP«!!Ifllo ~.·ow~ ... JI..:d;.ndlto!i~ort (melll ol~~ifrt..t. ~'11~.1•r• n~ ~C>"JtiJ'Qy ...... ITiilii'.'Sia'!'AUide !ToUOO'r IO'Marfn nctol<:illb ...... P"'lPk' '-" ALTA's Urban Cowboy ~!Qulllllofldgfd"~.lh&t',wllolllwanl ·~lh•llkrkalflll1$ll'll''llflllc0onill•l.·~of MI'Thtmut~r~~·mllar.btillhtrwo~t~t 'Ibm \.k"Dullld lf.nntr ADA pM.otnl.od dirr....flt!l.lttdbjlltltlllilks.ik-l"and UMI'ffil pll'~l d ~ T~ d ~old.,.~tf\l!'danctCI,.~~Nl·•! uliltm 11\011:' rrl(WI'IIIei'I\S_ ~•dlos. Meptand Adina Co nn ~~~~~~~~~~~~!:~ ftj\lft'f;tlwldoH~nlllflltfllolf'SoquiiN (~bft~ollit!tll!ylt:oll'lft'IJOfcl~ dlrrclna. on till' t;iChtl' Nro, UMS 111 EIINL Wllhfr..,.trwniDII do'J!illll'll~ okttd bhquadf\111-fnnMIIon,oni""'!I,II~ Ill lhf- lo(-~1 (l)mlftulol\ col!.p All wdrm >o1Ch nfl.!l---0 1 mrfiiiY "ll~WJIIy~litdll~<'tiJIII~ m.illaMI',.hkhcarrll'dille illld ~ OJIN!lt -~Cf!ll!lllllllolhr-bi!WMIIPp' Wortcl'• Ftu. ~ hMt •loo '-' ~IJII!d 'ThPnamtJI!ri,. onD.rlfulLSAonllli'M.tn.tl"',..."""~~"k. bdly '8!• kin Milk' t.a.u lilt eoM ll'ddOftlf'Cntl-'llltrllt·lllMS I!JIIi, ar.di'M7'QIIOIIIIC!t.flrqtondft.-JI'do)wn I mink C'oullCiiCIIIUfiPIOI.Wpsln~oliorr people chose WllhiMnl,jJOmKI-ntuo:;k•~l'.ar~olloa. the Ml-.lppl, •rii\We'l', Virglnlll. ~~~. mOnlolll!!!I201Mirllll\l.d~­ lOIDily oolated and r.ou.ld ll&I1!MI ltrt 1.'~ Qwld CMrnpion '1Minbrt9e5. t.w. lhemselues hl ~ o( ndt )'HI \Ill! So!Mhfm Sl.ltnO.~m~tndliotdown~ .tlifJ it htld In etr.rr.l Oondl. n. Abo.fll'(lpltooo\w.L~ ntlllll Buekin'Mula"lloiiii'OI~Whoil bl:!nl UCIUnd fort-- d tumfordlkiiii'IIWIMIII mwrit1 Wx:tiiii'I7001.!Mintltws lbecrou;f•~·IY~•b!Jnul~ trflll',d'ltlmni&l~~~lani:~IDbe 1111 m. ... uln cloa•fltt•ICIH u "bock •111014 wlcWd *-""lri. and- riM danculf'SMHunl."lfsnoi•MWit)'le IM!tddtnltl~ltw-axntniJJ!ll'o ol n~.lnlac):~J~·Jiflerllwl Tittpllgrl!nt~•W'fdf'l!ll1fii'OUod thltsltiM!Iun.'fhtovpmtoot.ln~­ =~~u,t:=~~':i':: (leoemed'pllrytwt)'fti'Jil':f.·ll'ollt\lthlliW kr-benluld~llM:Idtlml'l''-l'fliiOJI t'OIII)Iewootdcttdt•muncloclli'I'Cflllj)lel thetloc!f.Ntlhemotionlt~lllrcoljtiiUb. dMfiiiiiii!Uih thli!nberJd((l. artwdfll Calendar of Meetings

1987 1989

November 12-14 January 9 April29-May 1 Arizona Land Title Association ALTA Board of Governors (tentative) Doubletree Inn Desert Springs Resort ALTA Eastern Regional Scottsdale, Arizona Palm Springs, California Title Insurance Executives Hotel Undecided November 15-18 Florida Land Title Association April 5-7 Hilton at Walt Disney World Village ALTA Mid-Year Convention June6 Orlando, Florida The Mayflower-A Stouffer Hotel Board of Governors Washington, D.C. The Broadmoor Colorado Springs, Colorado December 2 Louisiana Land Title Association Apri130-May 2 June 7-8 Westin Canal Place (tentative) ALTA Western Regional New Orleans, Louisiana ALTA Eastern Regional Title Insurance Executives Title Insurance Executives The Broadmoor Marriott's Griffin Colorado Springs, Colorado 1988 Gate Resort Lexington, Kentucky September 30-0ctober 3 January 18 ALTA Annual Convention ALTA Board of Governors June 7 Hyatt Regency The Breakers ALTA Board of Governors Chicago, Illinois Palm Beach, Florida The Broadmoor Colorado Springs, Colorado March 11-13 June 8-9 ALTA Mid-Year Convention ALTA Western Regional The Westin La Paloma Title Insurance Executives Tucson, Arizona The Broadmoor Colorado Springs, Colorado April24-26 ALTA Eastern Regional October 15-18 Title Insurance Executives ALTA Annual Convention Radisson Resort Hotel Hyatt Regency Embarcadero Center Myrtle Beach, South Carolina San Francisco, California

June 8 1990 ALTA Board of Governors The Broadmoor January 15 Colorado Springs, Colorado ALTA Board of Governors June 9-10 The Ritz-Carlton Hotel ALTA Western Regional Naples, Florida Title Insurance Executives The Broadmoor April4-6 Colorado Springs, Colorado ALTA Mid-Year Convention Hotel Inter-Continental New Orleans, Louisiana October 16-19 ALTA Annual Convention Westin Harbour Castle Toronto, Canada

42 co~ fOt \t'\l ~e' sef'I\Ce~ fO~~' ?-eo'

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