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By Debbie Gregory.

The Chinese government broke into the supply chain for about 30 US companies as well as government contractors by using malicious computer chips, according to a new report by Bloomberg Businessweek.

The tiny microchips are no larger than single grains of rice.  Chinese spies inserted the microchips into equipment used by the companies and American agencies in order to gather intellectual property, along with trade and governmental secrets.

 

The chips, which were allegedly discovered in 2015 by engineers at Amazon and Apple, allowed hackers to “create a stealth doorway into any network that included the altered machines,” a Trojan horse that gave hackers a direct line into any sensitive network, according to the report.

Amazon and Apple denied the Bloomberg report.

But the report stated that Amazon reported the discovery to U.S. authorities, which sent a shudder through the intelligence community. Affected servers could be found in Department of Defense data centers, the CIA’s drone operations, and the onboard networks of Navy warships.

There have been heightened concerns about foreign intelligence agencies infiltrating American and other companies through so-called “supply chain attacks,” particularly from China where several high-tech firms outsource their manufacturing, according to Reuters.

Cybersecurity companies have warned that Chinese hacking activity has skyrocketed amid increased tensions between Washington and Beijing. The United States and China are locked in a bitter and escalating trade war, in which hundreds of billions of U.S. and Chinese products are under tariff.

The reported electronic spying via supply chains to U.S. companies are certain to continue long-standing questions about the essential but uneasy relationship between the world’s two leading economies.

American companies design and sell leading technology products, such as servers, laptop computers and smartphones, but depend on the labor force  in China to build and assemble them.

How to Bring Your Business Online

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By Debbie Gregory.

Building an online presence from the ground up can be very intimidating for a small business owner. Gone are the days when just having a Facebook page and Twitter account was all you needed. Customers are choosing to shop online now more than ever.

Here are some tips as to the best way to bring your business online:

First of all, focus on getting your business off the ground and on the internet. Concentrate on your website. Make sure it is functional. If buttons aren’t working or your website is not responding, your potential customers will move on to your competitors’ websites. Because your website is a reflection of your business, it’s worth investing in making it up to date and easy to navigate. And don’t forget to offer a mobile app as well.

Depending on the type of business you run, think about setting up an e-commerce site that allows customers to purchase your products online.

Blogging is the best way to keep your customers in the loop on topics such as sales, deals, events, and much more. You don’t have to bombard your customers with posts every day, but don’t neglect fresh content.

Make sure your products and services have a price point that covers all of your costs and allows for a profit.

Keep in mind that there are many professional groups that you can join to find potential business contacts, as well as to stay on top of trends happening in your industry. LinkedIn is probably one of the best for accomplishing this.

Offer something to your visitors in exchange for their email addresses, like a percentage off or a free download.

Know before you start, building and running any business, online or brick and mortar, means you will be working long and hard in the beginning stages.

Hopefully, at some point, it will get easier and smoother.

By Debbie Gregory.

The U.S. Army recently awarded AM General LLC a contract worth up to $800 million to build thousands of High Mobility Multipurpose Wheeled Vehicle (Humvee) ambulances to supplement the service’s Joint Light Tactical Vehicle (JLTV) fleet.

Based in South Bend, Indiana, AM General is best known for the civilian Hummer and the military Humvee that are assembled in Mishawaka, Indiana.

Both the Army and the Marine Corps plan to replace a large portion of their outdated Humvee fleets with the new Joint Light Tactical Vehicle, a joint program that could be worth up to $30 billion if they end up buying the proposed 60,000 units.

The contract to build the 2,800 new M997A3 Humvee ambulances was initially worth $562.5 million, but that amount could be worth $800 million if the Army decides to commit to two optional years on top of the three-year base contract, according to Deborah Reyes, a spokesman for AM General.

Both services will continue to use the Humvee, especially the ambulance variant since there is no ambulance version of the JLTV.

The new M997A3 is based on AM General’s M1152 up-armored Humvee chassis and body, Reyes said. The M1152 is enhanced with “integrated armor protection,” AM General’s website states.

“AM General continues to support the warfighter’s needs by delivering high-quality M997A3 ambulances based off our modernized, proven, rugged, all-terrain HMMWV’s,” Chris Vanslager, AM General executive vice president for U.S. Defense, said in a news release. “We understand the importance of being able to reliably and safely transport the wounded within operational areas on the battlefield to medical aid stations and are proud that the M997A3 can fulfill this critical mission.”

According to a company press release, the company will procure all system materials and parts, manufacture the chassis and body structure before shipping the integrated chassis system to Rock Island Arsenal where the ambulance shelter will be manufactured and assembled into the final product.

The Humvee saw widespread use in the Gulf War of 1991, where it negotiated the treacherous desert terrain; this usage helped to inspire civilian Hummer versions. After going through a replacement process, the Joint Light Tactical Vehicle (JLTV) was chosen as its successor.

Accounting Tips for Small Business Owners

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By Debbie Gregory.

Starting your own business is often a learn-as-you-go process. But, the more smart decisions you make early on, the better chance your company has for success. As a new small business owner, it is imperative that you establish practices, policies, and good habits early on.

As you begin this journey, know that you will more than likely work harder and longer than you have in the past. There are some important financial practices that you will want to utilize from the very start.

Solid bookkeeping and accounting practices will help you meet your goals and grow your small business.

First and foremost, keep your personal and business expenses separate. Open a business checking and savings account in the legal name of the business with its Tax ID number. The same goes for credit cards, lines of credit, and loans. Unless you’re a sole proprietor, you are legally required to keep your business finances separate from your personal finances.

Start off with a robust bookkeeping system. There are plenty of free or low-cost bookkeeping and accounting products available to help manage your small business’ finances. Another option is contracting a part-time bookkeeper or a CPA. You can also outsource to an accounting firm that can handle your books, payroll, and invoicing.

Keep good records so that you can be up to date on the progress of your business. Your records can help you identify the more profitable areas of your business, so you know where to focus your time and talents.

Keep your finger on the pulse of your tax liabilities, be it sales tax or income tax. Also keep close tabs on the accounting tools you have in place today; they might need to adjusted as your business grows. However, you’ll never outgrow the good accounting habits you’ve put in place from the beginning.

Top 10 Secondary Disabilities

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By Debbie Gregory.

There are numerous types of claims that apply to VA disability compensation. They can be based on disabilities that existed when entering military service, but were made worse, disabilities that occurred during service, or disabilities that arose following military service. Additionally, there are claims that are filed for special circumstances.

Secondary claims under VA regulation 3.310 are claims for disabilities that developed as a result of or were worsened by another service-connected condition. In other words, it is recognized that a service-connected disability may cause a second disability. This second disability may not otherwise be considered service-connected.

One example of this type of claim would be a veteran who was diagnosed with hypertension while serving. After discharge, the veteran was subsequently diagnosed with a heart condition. Service-connection for the heart condition may be established as secondary to the hypertension.

Another example would be a veteran with a service-connected knee injury that causes the veteran to walk with a limp. The veteran subsequently develops arthritis in the hip. Although the arthritic condition was not incurred during or aggravated by service, service-connection may still be established due to the knee condition.

Ten conditions account for more than half of all secondary to service-connected disabilities.

The top 10 secondary disabilities, beginning with the highest occurrence are:

1. Sciatic nerve damage

2. Erectile dysfunction

3. Median nerve damage (paralysis)

4. External popliteal nerve damage

5. Arteriosclerotic heart disease

6. Arteriosclerosis obliterans

7. Hypertensive vascular disease

8. Renal involvement in systemic diseases

9. Sciatic nerve (neuritis)
10. Degenerative arthritis of the spine

The process of assigning ratings in secondary claims is the same as in claims involving multiple individually service-connected conditions. Each condition is first evaluated separately and assigned a percentage rating. Starting with the condition with the highest percentage rating, the rater then uses VA’s combined ratings table to calculate an overall percentage rating for the primary condition and all conditions found to be proximately due to the primary condition.

For information how to apply, visit https://www.benefits.va.gov/COMPENSATION/apply.asp

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