The Dental Shopper Blog

Unusual Requests of Wills

Fri, 29 Mar 2013 16:25:00 GMT

Most wills generally have the same provisions. However every now and then there comes a will with a strange bequest. Here are some of the strangest will bequests known.

Gene Roddenberry, the creator of the Star Trek, requested that his ashes be blasted into space on a satellite. In 1997, Roddenberry’s ashes were able “to boldly go where no man has gone before.”
German Countess Carlotta Liebenstein left $66.2 million to her pet dog, Gunther III. The dog and his offspring, Gunther IV, lived out the rest of their lives in luxury, with a personal maid, chauffeur and customized pool.
New York hotel magnate Leona Helmsley left $12 million for the upkeep of her Maltese terrier. Her four grandkids were left with nothing.
Charles Miller, bequeathed his large estate to the women who could produce the most children in the 10 years. Known as The Great Stork Derby there were 4 winners who all received $121,975 (during the depression). Nine babies each.
Samuel Bratt grasped an opportunity to get even with his wife after his death. She never allowed him to smoke, but in his will, he left her $550,000 provided that she smoke 5 cigars a day.
Juan Potomachi left more than $50,000 to the Teatro Dramatico Theatre in Buenos Aires on the condition that his skull be preserved and used in Hamlet.
Harold West was worried about becoming a vampire after his death, so much so that he left instructions in his will for his doctor to “drive a steel stake through my heart to make sure that I am properly dead.”
James Bowman died in 1891, after his wife and two daughters passed away. As a firm believer in reincarnation, Bowman instructed that his 21-room mansion be maintained through a specific amount of money designated for that purpose. In addition, he specified that each night dinner must be prepared in case the family came back. The money ran out in 1950, before the return of the family.
A Danish widow left the equivalent of $61,700 to six chimpanzees - Jimmy, Trunte, Fifi, Trine, Grinni and Gigi - at the Copenhagen Zoo.
Tom Goodson asked his relatives to give everyone who attended his funeral an envelope containing a one pound note with the words, “Have a smoke, crack a joke. Thanks for coming,” written on it.
Harry Houdini left 10 random words to his wife in his will. He stated that she should hold a seance every Halloween after his death, and that he would communicate with her using those ten words. She held the seances every year for 10 years, but eventually stopped because Houdini never made his presence known.
Janis Joplin, who updated her will just two days before her death, set aside several thousand dollars for a posthumous party for 200 of her closest friends. This party was held at her favorite bar in San Anselmo, California, and Janis noted that she wanted her friends to "get blasted after I'm gone."
The philosophical father of utilitarianism, Jeremy Bentham, wanted his remains to be clothed in a black suit and sitting in his favorite chair inside a wooden and glass cabinet. And that is exactly what happened; his body is preserved in the cabinet, called the Auto-icon, at University College London, with a wax head as the real one was left looking macabre after mummification. His body sits on display at the end of the South Cloisters in the college's main building. It has also attended meetings of the College Council, where it was listed as "present but not voting."
Can The Identity Of An Anonymouys Blogger Be Revealed?

Stocks advance, Dow close to record high

Tue, 05 Mar 2013 05:32:00 GMT

Headlines this month featured the Oscars, Pope Benedict XVI’s retirement and the so-called sequestration. At this point, two of the three are a done deal, but it looks like the $1.2 trillion in budget cuts scheduled to take effect March 1 will kick in. These across-the-board reductions in future spending were established in the 2011 Budget Control Act as a measure to force lawmakers to work together to reduce the deficit before the January 1 deadline. That didn’t happen; instead they delayed the sequester to March 1. Without further action from Congress, almost every federal department will see a reduction in their budgets over the next 10 years. It remains to be seen if a solution can be reached shortly after the March 1 deadline or what effect the cuts will have on jobs, the markets and the economy.

Market Statistics
	1/31/13 Close	2/28/13 Close	Change	Gain/Loss
DJIA	13,860.58	14,054.49	+193.91	+1.40%
NASDAQ	3,142.13	3,160.19	+18.06	+0.57%
S&P 500	1,498.11	1,514.68	+16.57	+1.11%

Despite the uncertainty, the stock markets had a strong run in February, with the exception of a 2% decline in the third week. Shortly after that “pause,” the major indices rallied again and closed at or near their highs with the Dow hitting a 5-year record and closing out the month just shy of its all-time high. Generally positive economic reports on lower jobless claims and increased business spending bolstered the markets, as did a strong earnings season. For example, weekly jobless claims dropped, showing some improvement in the labor market. The Chicago Purchasing Managers Index (PMI) came in at 56.8, above the 50 reading that indicates an expansion and an 11-month high. And, the majority of S&P 500 companies have reported quarterly earnings with 70% of firms beating expectations, according to Thomson Reuters. In other news, though, the Commerce Department reported our economy grew just 0.1 percent in the fourth quarter, the slowest growth in two years.

In other news, Federal Reserve Chairman Ben Bernanke testified to Congress that he believes it would take another three years for unemployment to fall below 6%, which seemed to indicate that the central bank will maintain low interest rates and continue its asset purchases. He said, “In the current environment, the benefits of asset purchases and of policy accommodation more generally are clear: monetary policy is providing important support to the recovery.”

Please call me at your convenience so we can discuss your portfolio holdings and overall allocation. I look forward to hearing from you.

Sincerely,

Timothy J. McNeely
CERTIFIED FINANCIAL PLANNER™
Certified Investment Management Analysts™

McNeely Financial Strategies LLC - Digital Financial Planning for Dentists

Dealing with patients who do not pay

Sun, 23 Dec 2012 18:29:00 GMT

Important facts you should know when collecting overdue fees By Douglas Pettibone

Every medical and dental practice has to deal with patients who do not pay. If it doesn't deal with such patients, the costs will simply be passed on to other patients--or the practice may simply suffer or fold. Yet the very real dental and medical collections legal issues mean you should think carefully before reminding your patients to pay up.

In the end, you may very well be better off outsourcing your medical or dental accounts receivables to one of the new medical and dental collection agency/accounts payable processing centers. According to the Fair Debt Collections Practices Act (FDCPA), dental billing notices fall under essentially the same regulations as a mega-bank's car loan collections.

Real-World Medical and Dental Debt Collection Law Quandaries

Anne, a secretary at ABC Dental Associates, calls up a patient who just turned 18, to remind him of an outstanding copayment. The patient's mother answers the telephone. Should Anne:

1. Take the issue of the co-payment up with the patient's mother?

2. Leave a message with the patient's mother to remind the patient of the outstanding co-payment?

3. Leave a message for the patient to call the ABC Dental Associates back?

4. Say she will call back later and quickly hang up?

All but one of the four options above will be a violation of federal debt collections law. Can you guess which one?

The correct course of action is option number 3. Why are the others illegal?

Look at each of the options above:

1. It is illegal to disclose a debt to a third party.

2. See number one; remember that messages regarding a debt are essentially disclosures to a third party.

3. This is the only suitable course of action.

4. The FDCPA requires all creditors to identify themselves when making a call. While you can't say what you are calling about, you must say the name of your business before hanging up.

Not ready for your medical or dental practice to become a law practice? You can get around dental collection law matters by outsourcing the entire job to a professional medical or dental accounts receivable processor or medical collection agency. This option also has the benefit of saving your staff a lot of work.

After all, not only is your dental practice not a law practice, it's not an accounts department, either.

LAW OFFICE DOUGLAS J.
PETTIBONE & ASSOCIATES
Tel: (714) 730-9091
Fax: (714) 245-7324
douglas@pettibonelaw.com
www.pettibonelaw.com

As the year comes to a close...

Mon, 10 Dec 2012 08:00:00 GMT

Year end advice to buyers and sellers. By Timothy G. Giroux, DDS

Whether your candidate won or lost in last month’s presidential election, I am sure we are all glad that it is over. From California’s election, one thing is certain…taxes will increase for most dentists! I mentioned in last month’s feature that we would report back on a relatively new tax‐deferred strategy known as the Deferred Sales Trust. An east coast firm specializes in setting this up for dentists and veterinarians. It is essentially an installment sale through the trust. Every accountant I consulted with about this strategy felt that it would not cut the muster with the IRS. I discussed the accountants’ concerns with the representative for the firm. While he understood and addressed our concerns, the strategy really has not been fully tested and the investors/Sellers would need to understand the implications if the IRS ultimately ruled against the strategy.

Here is my year‐end advice for Sellers

If your practice is currently on the market or you are contemplating selling your practice next year, finish the year strong!! Lenders and Buyers value your practice almost exclusively on the most current year‐end P&L. Try not to take too much time away from the office until January. Make all of your December bank deposits on time and try to have them posted before January, as opposed to some accountant’s advice for you to wait until January so that the tax burden is delayed for a year. If you are currently under contract, many accountants are advising their clients to close this calendar year due to the tax changes. In the past, most accountants advised their Sellers to close in January. If you are thinking of selling next year, begin the process now so that you are ready for what is traditionally the busiest time of the year for buyers coming into the market, which is usually late January.

Here is my year‐end advice to Buyers

If you are under contract, work to close this year. Sellers are much more amenable to closing this year. If you are frustrated searching for the right opportunity, I believe that the inventory will start to pick up next year as compared to the past few years because many Sellers who have been holding on may decide that it is time to finally retire next year as they probably realize that taxes will only increase in the future.

To all of you, have a safe and happy holiday season!

Timothy G. Giroux, DDS owns Western Practice Sales (westernpracticesales.com) and is a member of the nationally recognized dental organization, ADS Transitions.

Questions? Email them directly to Timothy G. Giroux, DDS
wps@succeed.net or Call 800.641.4179

Can You Compete?

Mon, 10 Dec 2012 08:00:00 GMT

Are non compete clauses in an employment contract enforceable? By Douglas J. Pettibone, Esq

Who Gets the Patients?

After termination of employment, a contractual non-competition clause is usually unenforceable. Under California law, a doctor ordinarily may compete with his or her prior employer or group, even if the doctor signed an agreement that prohibits competition. Of course, there are exceptions to this rule. A non-competition clause can be enforceable if it was (i) entered into as part of the sale of a business; or (ii) entered into pursuant to a partnership agreement or shareholders agreement that prohibits a withdrawing doctor’s competition in a limited geographic area.

A prohibition on competition may be unenforceable, but the departing doctor may not engage in unfair competition. Unfair competition includes the use of confidential information and trade secrets of the former employer. In general, the law will prohibit a doctor from using the patient list of the former practice, but only if the following two elements exist: (i) the patient list was a trade secret; and (ii) the former doctor misappropriated the list.

Who Retains the Rank and File Employees?

The rule with respect to the solicitation of employees is similar to the rule for the solicitation of patients. California law protects the right of employees to change employment. A departing doctor may not solicit or ask the employees to leave the former group. Rather, the departing doctor may only announce his or her plans. The doctor must then back off and allow the employees to initiate the next contact.

Finally, please keep in mind that the law of competition is by its very nature fluid and gray. There are few hard and fast rules, and no guarantees can be given on the outcome of any particular dispute. The costs of litigation (let alone losing in litigation) are such that one does best to avoid it altogether. Therefore it is imperative to keep this common-sense advice in mind: behave in a decent and fair manner, and well within the boundaries of the law. In the final analysis, courts try to protect persons who have acted with decency.

This article only gives a short roadmap of the issues raised by a departing doctor’s competition with his or her former group or employer. There is a lot more to this subject than introduced here. Before you do anything, get competent legal counsel to help you.

Douglas J. Pettibone, Esq.
Pettibone & Associates
714-730-9091
Douglas@Pettibonelaw.com
www.Pettibonelaw.com

Protect Yourself When You Sell Your Practice

Mon, 10 Dec 2012 08:00:00 GMT

Information to help you protect yourself when finding a practice broker to sell your practice. By Ken Rubin

1. Always Interview More Than One Broker

The sale of your dental practice is one of the biggest financial transactions of your life. Your decision will directly affect the quality of life that you will enjoy during retirement. Think about it! This should be a well thought out, logical decision based on facts and information. Don’t make a snap or emotional decision based on “a feeling,” a smooth talker or old information that is no longer valid. Like the dental profession, the brokerage profession has also experienced many changes over the past several years. All practice brokers have different methods, skills, experience, knowledge, marketing methods, buyer databases, ethics, business volume, personality, reputations, etc. Be careful and develop a list of important interview questions to ask.

2. Request a Broker’s Performance Report for the Past 12 Months

This is absolutely critical. Insist on getting the names of your colleagues in your immediate area (not 50 miles away - unless your practice is a very rural area) whose practices they have sold recently.

3. Get Proof of Broker’s Malpractice Insurance

Litigation is on the rise. Request a copy of the policy Declaration Page. Active brokers should have a minimum of $2,000,000 in coverage. Buyer failure rates and lawsuits have skyrocketed! Because good insurance is very expensive, many brokers have been “going bare” or are inadequately insured. Things don’t always go 100% as planned and if there’s a problem, you don’t want to find yourself solely left “holding the bag” and suffering a massive financial loss with no recourse.

4. Insist On Having A Protective Escape Clause In Your Listing Agreement

This will make it possible for you to get out of a listing early with a non-performing broker. Even though a broker may tell you initially that they’ll let you out of the listing agreement, insist that it appear in writing. If you’re not extremely impressed with the marketing campaign of the broker after the first 30 days, it’s time to move on to another broker. PERIOD! Even in today’s tough market it’s still possible to sell practices quickly (except in very rural areas). The results of a strong marketing campaign will be blatantly obvious. Don’t get sucked into detrimental excuses and continued false hopes that could string you along for a long, long time.

5. Make Sure The Broker Will Always Be Present To Show Your Practice

Showing the practice to prospective buyers is their job, not yours!It’s what you pay the broker for - their time, expertise and ability to facilitate a smooth transaction. You (and/or your spouse) shouldn’t be left alone to show your practice and try to function as a professional dental practice broker. The larger a geographic area that a broker covers, and the further away the broker is from your practice, the less likely it is that they’ll be involved in showing your practice or even meeting with the buyer.

6. The Listing Period is Negotiable

Even in today’s tougher marketplace, it doesn’t take a year to sell a practice. Protect yourself by demanding a listing term of no longer than 6 months. Better yet, start with a 3 month listing or even shorter. At the end of 3 months (assuming you’re satisfied that the broker is doing a good job) you can simply extend your listing agreement. This keeps you in control. It’s a dog-eat-dog world, and many dentists have found themselves stuck in long term listing agreements that they desperately wanted to get out of but were legally bound to the broker. With declining practice values in this current economic situation, the damage is amplified dramatically. Negotiate the listing period.

7. No “Multiple Listing Service”

Unlike selling a home, there is no Multiple Listing Service (“MLS”) for dental practices. It’s customary for practice brokers to sell their own listings and avoid having to split the commission with a buyer’s agent. Because dental practice brokers rarely “co-op” their listings with other brokers, your success in selling will solely be determined by the efforts, experience, resourcefulness and reputation of the broker you select. Like dentists, all brokers are not created equal, so choose wisely!

8. Don’t Be Fooled By A Broker’s Current Listings

To make it appear like they’re more active and successful than they really are (in order to help deceive sellers into listing with them), some brokers will actually include “false and fictitious” listings on their websites and display ads. They will include practices that they sold a long time ago; old expired listings that they were unable to sell; listings they expect or hope to get in the future; and in some cases fake listings that they completely made up. A long list of legitimate practices for sale can also be an indicator of the broker’s inability to actually get practices SOLD. (See #2 above)

9. The Commission Rate Is Negotiable

Although most brokers charge a 10% fee, some are willing to discount the rate, especially on very large practices. More importantly than the commission percentage charged, focus on the amount that you net in your pocket after paying the commission. Keep in mind that there is a huge difference in the sales price that different brokers are able to command for your practice, and although you may have saved 1-2% in commissions, it may end up costing much more in terms of reduced sales practice price than the discounted commission savings. You can’t get something that you don’t ask for, so it’s always worthwhile to at least ask for a discounted commission even if a confident broker won’t discount their fee. For example it would be better to pay a 10% commission to a broker that is able to sell your practice for $800,000, than to pay an 8% commission to a broker that is only capable of selling your practice for $750,000. Do the math!

10. Don’t Be Fooled By An Overstated Opinion Of Value

In order to capture a listing, some brokers will tell you they can sell your practice for an inflated price. It’s the oldest trick in the book. After a few months they’ll “reconsider” the price, or blame it on the market, and convince you to agree to a much lower asking price.

11. Ask Active Current Buyers Which Broker They Would Use

This is a great source of unbiased information. Since there has been very little inventory of practices for sale, many buyers have now been looking for a long time, and are very familiar with many of the brokers. They know firsthand which brokers do the best job and you can ask them who they would use if they had a practice to sell today.

Please note: This list is NOT all inclusive! It’s just a starting point.

Ken Rubin is the President of Ken Rubin & Company, Dental CPA's - www.henrubincpa.com and Ken Rubin Practice Sales - www.krpracticesales.com
Ken can be reached at 619-299-6161 or Ken@kenrubincpa.com.

Tougher Times

Mon, 22 Jun 2009 07:00:00 GMT

A discussion of strategies for dentists during tough economic times. By Gary Moore DDS

When it comes to management of you dental practices, especially in tougher times, all of us fall into two main categories. One category is those dentists who are tired of hearing about it and decide to "not do anything, because “I can't do anything about it", and the other category, who is also tired, but determined to do "something" about it.

I have seen several offices and can tell you many have chosen to "throw up their hands" and try to "make the best of it". Not only is this is a mistake, but I have found it is done many times out of ignorance, rather than choice.

I have practiced 23 years and have seen slow times on more than one occasion. I am not here to tell you that I have a single magic bullet that is going to make the tough times go away. I am here to give ideas, and hopefully get ideas from the readers of the dental shopper forum about how to fill the empty chairs that I often hear about.

I believe that most of the readers of the dental shopper are self-employed, hard working dentists who try to wear both hats of the two basic needs of a dental office. One hat is clinical, the other hat is the business side, as one cannot work without the other.

Too many times I see dentists spend thousands of dollars on equipment or continuing education courses that only add to the overhead/stress of the office, rather than increase production/collections.

This strategy often fails because your office is not prepared to "sell" the new technology, and/or your patient base is too low to support the cost of the new product.

In this forum I want to discuss "tougher times strategies". I want to hear the good and bad of what is working in your office to keep your practice going. I realize that many of you may not want to share your "secrets", but keep in mind that sharing ideas is not the same as implementing them. We have to remember that rarely are we in competition with each other. Generally, our “competition” is the wants and needs of other items that our patients want to buy, instead of dentistry, now days that can be housing, food, and basic necessities. Two years ago it would have been the new car or new boat.

If I am asked what to do in tougher times, I usually suggest starting with what is called the "chart separation exercise". This is a physical chart separation of who has an appointment, and who doesn't (but you wish they did).

The exercise is fairly easy, as you go through your charts one by one and separate them into 2 different chart filings. This can take several hours depending on how many charts you have.

Once you have done this you have 2 sets of charts in 2 separate areas. Take a good look at the area that is holding the patient charts that have appointments. Count them, because this is really your "active" charts (or active patients), as they have an appointment to return to your office. (I realize that there is no guarantee that they will show up- but that is dependent on your systems you enforce to assure the patient will show up).

Just a side note, I always chuckle when a practice broker tells me that an active patient is anyone that has been seen in the last 2 years. I believe this is nonsense, but that is a discussion for another time.

Now you have the other set of charts-patients without appointments. These are the first patients that you need to be in contact with. Postcard, letters, email, and phone calls are needed. As with all marketing, you must contact these potential several different ways and times to let them know you are still interested and available for them.

Yes this takes time, effort, and a little money. If you have idle staff, make the most of them. Even in a moderate busy office, there is time to make a few phone calls, send emails, and mail a letter or postcard. You have one person that is very valuable to do this- go look in the mirror! If you are sitting around at 10 am waiting for your 11 am patient walk in, be wise, take the time to do some clerical work, don't let pride get in your way. Remember, tough times require tough sacrifices.

You can't believe how effective a personal phone call from a dentist to a past client "concerned about them as I have not seen you in such a long time", or the personal letter, with a small handwritten personal note to the patient that you haven't seen in 10 months.

It amazes me how many dentists have the time to whine bout their office being "slow", but have too much pride to pick up the phone, pen a personal note, or write an email to an existing patient that doesn't have a return appointment.
So tell me- lets talk- what are your thoughts and what have you done for your office lately?

Gary Moore DDS
www.JungleConsulting.com

Appraisal Considerations

Thu, 19 Feb 2009 08:00:00 GMT

I wanted to thank Dr. McLerran, a practice transition specialist in Texas, for providing us with this valuable information. This is a question that many of you have asked me in the past. Lon

Dr. Johnson appeared somewhat flustered when he arrived at our office to discuss his transition. He is an old friend and colleague who had hired a young associate to be groomed as his eventual successor. Their relationship was good and the associate was ready to affect the purchase. Before pulling the trigger on the purchase, the associate had requested a second appraisal from another company to verify our appraisal. Dr. Johnson had received the second appraisal and was bewildered. He had received a large folder full of financial printouts with a summary page that stated the appraised value of the practice. He could not make heads or tails of the printouts and wanted us to look it over.

Upon our review, we found that the appraised value was right in line and the printouts were all accepted approaches to value, albeit without any explanation.

Dr. Johnson shook his head and said that, for the money he spent, he expected to be able to understand the appraisal.

Dr. Johnson is not alone. Many doctors have a difficult time understanding dental practice appraisals. So, what are the elements to an appraisal of a dental practice and what should you expect for your money?

There are a number of types of appraisals used for different situations. A limited, letter, or summary appraisal might be used when you just need to know the value. This may come into play in estate planning or to verify the value of your assets. This kind of appraisal will only state the basic assumptions and give you a value.

A fully documented appraisal will be needed in most circumstances. These include a practice sale, divorce, partnership buy-sell agreement, and partnership purchase. Be assured that all parties in the transition will have their advisers; attorneys, accountants, lenders and consultants. These advisers will want to be able to understand how the value of the practice was derived and the rationale of the appraiser.

Therefore, the appraiser should provide some basic, commonly accepted information. The appraisal should state the subject and date of the valuation. It should define the standard of value-fair market value, fair value, or investment value, and it should define the scope of the valuation- for divorce, purchase, or a buy-sell arrangement.

In addition, the appraisal should discuss the general economic situation at the time of the appraisal and discuss the state of the dental industry in the area of the practice. There should also be an in depth discussion of the practice itself.

Then, there should be a discussion of the financial statements and condition of the practice with adjustments of income and expenses to arrive at a true operating net income of the practice.

After the financial analysis, the appraiser should discuss the various approaches to value and how they are weighted in the appraisal.

The Practice Valuation Study Group, which is a national organization of dental practice consultants/appraisers, recommends three approaches to value; an asset approach, a market value approach, and an income approach. Although the result of each approach might be averaged to obtain an appraised value, the appraiser must use his/her judgment in how to weight these values. For example, a practice may have tremendous net income but is full of old equipment and is located in an undesirable area. In that case, the income approach may give us a result that is not justified by market conditions.

And, finally there should be a list of qualifications of the appraiser. In reality, all appraisals are opinions of value based upon a comparison of the subject practice with like practices which have sold in the marketplace. Therefore, it is a great advantage to employ an appraiser who is familiar with dental practice sales.

Keep these points in mind so, when the time comes, you can seek an appraisal that you can understand and one that fits your needs.

Paul E. McLerran, D.D.S., CCIM
(888) 656-0290
paulmc@dental-sales.com

As we end another year

Mon, 15 Dec 2008 08:00:00 GMT

An old chestnut that still holds true as you as you work to make your practice even more successful. By Lon Uso DDS

Dear Colleagues,

It’s hard to believe that we have almost ended another year. Thanks to you, The Dental Shopper is more than 25 years old. When we started there was no Dental Products Report, no Dental Economics or many of the magazines that you younger dentists now take for granted. There were a number of association journals that dealt mostly with clinical articles and data but none that were concerned with the business of dentistry. We were pioneers and you recognized the value of what we were doing and you supported us. We took a chance and put our money and our effort into this project and you rewarded us. It was the American promise of finding a need, having a great idea, working hard and succeeding, much like what you are doing in your practices.

This year has also brought some economic challenges to many individuals and businesses; our profession is no exception. Shopping wisely has never been more important and I have encouraged my advertisers to give my readers the best deals that they can. I encourage you to find and take advantage of those deals.

Arm yourselves with products that educate your patients and encourage them to make the right decisions for their oral health. Market your practices wisely and accurately track the return on investment (ROI) of that marketing program. You will survive the tough times and be better and stronger for it.

As we enter the Holiday Season, I wish you all good health, joy and prosperity in the coming year. Only we know how truly demanding our jobs are and I hope that you all find the time to recharge your batteries and enjoy time with friends and family.

My everlasting thanks to you that support us including our loyal advertisers that truly make our publication possible.

Cheers,

Dr. Lon Uso, UCLA ‘77