61 Minutes is a summary of the year in review in business, technology and veterinary lifestyles. It was presented at the 2010 AAEP Annual Convention.

1. The Year in Reviewin 61 MINUTES Kathy Anderson Robert Magnus Mike Pownall

2. The Economy in Recovery?

3. TechnologyAsset?Liability?Or Both?

4. New Grads JobsDebtGender

5. Challenging Times 2008 2009 2010 …The Future

6. The Economy

7. 2010 Snapshot 40 trillion in debt between secured and unsecured obligations 13.8 % of all mortgages are in default Unemployment at 9.8% in US ….increase 0.2% 7.6% unemployment in Canada Large corporations have record profit levels due to cost cutting

8. 2010 Financial Industries “Banking” 149 Bank Closure Number of “problem” institutions - highest in 17 years, 829 (FDIC quarterly report) Growing bank failures – sapped billions FDIC deposit insurance fund Capital Improvement Loans SBA Loans All time High….Gov’t backed loans Credit Lines

9. FDIC Barking Quarterly Report

10. NCVEI 2010 Vet Practice Sales - 2010 vs. 2009 > 50 % are flat or up 50% are down Fee Increases for 2010 No change = 18.1% Lowered = 1.4% Raised = 80.5%

11. Equine Industry Trends Increase A/R Customers Vendors / Suppliers Labor Reductions Support Staff Veterinarians Price slashing Decrease Hospital Volume / Revenue Decrease in discretional spending Future growth Improve Operational Efficiencies

13. Where are we going?

14. 2011 Predictions More of the same Flat growth rates is the new “up” Housing not expected to improve Unemployment not expected to improve Consumer spending will be flat because of high unemployment Commercial Real Estate Defaults to Increase

15. Economic Driversto Watch Financial Institutions Housing / Mortgage Market Real Estate Market Labor Market Debt Financing Global Perspectives ..this affects us, the equine practitioner

16. Adjust Inflation Stimulate Growth Monetary Policy Money Supply Interest Rates Money Supply Interest Rates Stimulus Packages World Wide

18. R&D

19. Sponsorship

20. Product Offerings

22. 2008-2009 rankings 2009-2010 rankings

23. Ease of Doing Business Indexcreated by the World Bank Higher rankings indicate better, usually simpler regulations for businesses and stronger protections of property rights

24. 2010 - 2009 Business Index Ranking 1. Singapore 2. New Zealand 3. Hong Kong 4. United States 6. United Kingdom 5. Denmark 7. Ireland 8. Canada 9. Australia 10. Norway

25. U.S. Public Debt 1980Debt33% of GDP$909 billion 1990Debt55.9% of GDP$ 3.2 trillion 2001Debt55.9% of GDP$ 5.7 trillion 2009Debt90% of GDP$14.3 trillion 2010 Debt forecast 100% of GDP The bigger picture…

26. NEWS FLASH

27. Equine Vets Under Attack Internet & OTC Sales

28. Recession Affecting Animals

29. 61 Minutes TVOn The StreetStudent Debt – Fact or Fiction

32. Student Debt-the Reality 106% 56% Debt Starting salaries North America AVMA

34. $131,00 for males

35. $134,00 for females

37. New Grad Employment 2396 new graduates 60% private practice 36% internship 4% industry/public sector AVMA 2010

38. USA Veterinarian Starting Salaries 2010 vs(2008) $48,778 male $34,250 female

39. Equine Vet Practice AAEP Job Bank – Dec 3, 2010 598 Resumes 25 Jobs 24 resumes for each job

40. 61 Minutes TVOn The StreetSocial Media – Fact or Fiction?

42. Social Networking More grandparents on Facebook than high schoolers Facebook, You Tube & Twitter are largest networks YouTube uploads 35 hours of video each MINUTE! Twitter has > 110 million users. 7% are in the US More NA markets using SN(58%) vs Europeans (34%)

43. Human Medicine 15% of US hospitals using social media Australian & New Zealand Medical Associations have created social media policies

44. Social Networking - Facebook >500 million users worldwide 125 million in US 85% growth in one year “Koobface” virus still a slight risk Mobile users are twice as active. (<1/3) 25% of all web page views in the US #3 site used by US users older than 65.

45. Cloud Computing Data stored on server farms Safe Information accessible via the web only Amazon & Google Microsoft Office 2010 Image Archiving

46. CUSTOMERS AMAZON Server Cloud Computing

47. Collaboration FourSquare Yelp Go To Webinar Google Docs

48. www.foursquare.comwww.gowalla.com Location based “Check ins” Win rewards

49. www.yelp.com

50. Everyone is Talking About You!

52. Mobile Computing Droid/iPhone/Blackberry Recent release of Windows 7 could challenge the marketplace More people will access the web by mobile devises than laptops/desktops by 2013. >200,000 iPhone Apps 13 billion business in 2013 www.techcrunch.com

53. iPad >350,000 sold in first week 14 million this year alone Practice Software Client Education

54. Groupon.comWoot.com Daily deals Huge increase in sales Can overpower a small company

55. 61 Minutes TVOn The StreetSmart Phones – Who Needs Them?

57. NEWS FLASH

58. NJ Racing Funds from Atlantic City funding racing Governor wants to end subsidies Race both TBs and STB at Monmouth

60. Sales In North America Keeneland Sales 2008 ave $90,984, med $37,000 2009 ave $60,734, med $22,000 2010 ave $64, 811, med $25,000 Ave 6.7%, med 13.6%

61. Red Flag Rule “Red Flag” Rule – regulation issued by the Federal Trade Commission (FTC) in 2003 to strengthen protection against identity theft. Any veterinary practice that receives payment after services are provided is considered a “creditor” under the law and subject to the regs which are likely to come into play in the near future. Incentive to move to Cash at Time of Service!!

62. Unused Pharmaceuticals Efforts to survey medical facilities regarding pharmaceutical disposal practices was cancelled in Dec 2009 AVMA urging profession be exempted from the proposed survey www.avma.org/drugdisposal

63. I’m Right,You’re Wrong!!!!!

64. I’m Right,You’re Wrong!!!!!

65. Business Resources Books of 2010 Drive - Daniel Pink Flip The Funnel - Jeff Jaffe Switch - Chip & Dan Heath Linchpin - Seth Godin The Referral Engine – John Jantsch

66. Business Resources BLOG www.equinevetbusiness.com AAEP Business Education Facebook Page

67. Equine Veterinary Business Education Amsterdam - August 2010

69. Bea.gov

70. Bls.gov

71. Networking

72. Other industries

73. Community Business Leaders & Friends

74. AAEP.org

75. Veterinary Study Groups (VMG Groups)

76. Consultants VetPartners.org