The home heating oil industry has a long and proud history, and Fuel Oil News has been there supporting it since 1935. It is an industry that has faced many challenges during that time. In its 77th year, Fuel Oil News is doing more than just holding
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FALL LITERATURE SHOWCASE 2012 is in place at the bank and is of the appropriate size to handle your needs for the upcoming season. Make sure the size of the line of credit has been adjusted to address reduced collections from pre-buys, budgets and to allow you to take advantage of supplier prompt pay discounts. Be sure that the renewal date of the line is well past the heating season. The biggest problem I commonly see is that the banks want to see December year-end financial statements before they adjust or renew lines of credit, and this puts the timing of the decision on the line of credit right in the middle of the heating season. Get out ahead of this cycle by beginning discussions. Meet with your banker NOW and let the bank know how much you need, don't wait! Following these three steps of the checklist will give you certainty that you will have the liquidity needed to keep deliveries flowing this winter. Getting to the bank now will head off any problems that may be lurking that could cause trouble. It's always best to identify any issues, if any, now while there is time to craft solutions before a full blown crisis is created. l FON Matthew Ide, Managing Director of Angus Advisory & Finance, he is a seasoned financial executive with broad- based experience in operating, financing and investing, via the Angus Fund, in energy distribution companies, with a particular focus on the heating oil and propane industries. He has a successful 14-year track record in leadership roles in lending and investing, treasury management, strategic planning, product development and e-business in the banking and energy distribution industries. Prior to joining Angus, he was Senior Vice President of Energy Lending at RBS Citizens, N.A.; Matt has worked with hundreds of fuel distributors and is recognized as an industry leader. He is a frequent speaker at industry conferences and seminars. Matt holds a B.B.A. in Finance from George Washington University. ECONOMICAL ROOFTOP DRAFT INDUCERS SAVE ENERGY WITH (COP) CONTROL Up to 30% cheaper than competitors, R T - S e r i e s rooftop induc- ers for gas, oil, solid fuel & general ventilation keep the entire vent system under a negative pressure. Now available with the Constant Operating Pressure Control (COP) which enables the inducer to maintain a user set system pres- sure by modulating the inducer motor speed to meet fluctuating draft and exhaust demands while reducing inducer motor power consumption by up to 70%. Self- cleaning backward inclined impeller repels soot build-up and patented auxiliary cooling system protects motor from excessive heat. Includes mounting kit for metal & tile flues (800) 255-4208 or www.tjernlund.com Tjernlund Products, Inc. TESTO INTRODUCES NEW COMMERCIAL COMBUSTION ANALYZER The testo 320 residential/ commercial combustion analyzer features a hi-def color display and integrated memory to store 500 read- ings. Use it to measure O2, CO, CO2, combustion effi- ciency, excess air, draft, pressure, and differential temperature. The testo 320 also features two gas sensors and a variety of probe options for comprehensive combustion analysis. The testo 320 has a quick 30 second startup and integrated mag- nets for hands-free operation. Kit options for the 320 include an infrared printer. Visit www.testousa.com/combustion for more information. (800) 227-0729 Testo, Inc. IMPROVE IAQ, CURE DAMP- MUSTY BASEMENTS WITH XCHANGER™ REVERSIBLE FAN Tj e rnlund ' s r e v e r s i b l e XCHANGER™ Basement Fan i n c l u d e s a n adjustable dehu- midi s t a t f or automatic oper- ation and (2) 90 CFM fans which can easily be reversed to exhaust air, supply fresh air or provide a balanced air exchange. Great for damp, musty basements, garages, storage areas, workshops or cabins. Uses only 35 watts compared to over 1000 watts for a typical dehumidifier, saving over $100/year in electricity. Built-in dampers prevent unwanted air infiltration. Simple plug-in electrical. Optional plug-in speed control, timer and ducting kits available. (800) 255-4208 or www.tjernlund.com Tjernlund Products, Inc. www.fueloilnews.com | FUEL OIL NEWS | FALL LITERATURE SHOWCASE 2012 3