Michelle Singletary: Research key to finding answers to financial questions. 2D
Business&Money
S U N D A Y , J U N E 24 , 2 0 0 7
TICKER Buddy system
Next time you grab a drink after work with your office mates, ask to put the bill on the company tab. According to a new survey, you’re boosting productivity while you sip that pint. More than half of executives and 63 percent of employees report that job performance improves when co-workers are friends outside the office. Employees who have buddies at work are more eager to come to the office and enjoy their workday, which translates to higher productivity, said David Araldi of the staffing firm Accountemps, which conducted the nonscientific survey. “One of the main reasons people decide to stay at an organization is because of who they’re working with and working for,” he said. Excessive chumminess can lead to workplace cliques, however, or stifle brainstorming among friends who don’t want to compete with each other, Araldi said. Strong work relationships don’t have to develop over a beer at the local pub, either. Management and staff can work together during office hours to communicate responsibilities and check progress, he said. The survey included responses from 150 senior executives with the nation’s 1,000 largest companies and more than 500 full-or part-time office workers.
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WWW.TUSCALOOSANEWS.COM
Downtown plans Staff Writer
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rive through downtown Tuscaloosa and it’s clear a lot is going on. A lot. Buildings that have stood for decades have been reduced to rubble to make way for new public facilities, and signs announcing new private developments dot the landscape. It’s hard to take it all in, let alone imagine what downtown will look like when the various projects are finished. This is a map of downtown as it could appear in a few years — assuming all of the projects come to fruition. Enjoy the look ahead. The downtown projects can be divided into three broad categories: ■ Urban renewal projects funded by city and federal government. ■ Private condominium and apartment developments that would bring a permanent resident population to downtown, but depend on making sufficient pre-sales to go forward. ■ City infrastructure improvements.
Who: U.S. Postal Service What: A 3,000square-foot post office to replace the branch on the corner of University and 21st Avenue.
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Office Building What: A four-story, 100,000 square-foot office building that will be home to the Jamison, Money, Farmer and Co. accounting firm, the Bank of Tuscaloosa and the Rosen Harwood law firm. The first Riverwalk project to begin construction. When: Under construction. How much: $25 million.
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Who: Olympia Property Company What: A two-tower (one 12-story tower and one 10-story tower) high-rise apartment complex that, once complete, will provide a home to about 1,000 University of Alabama students. Where: Fourth Street and 22nd Avenue. When: The company plans to break ground for the first tower in mid-summer. The entire project is expected to be finished sometime in 2009.
New Post Office
Who: City of Tuscaloosa What: A three-story addition to City Hall, to be connected to Annex II and a proposed parking deck by suspended walkways. The Water and Sewer Department will occupy the first two floors, while the Revenue Department will occupy the third. When: Construction to begin July 2007. How much: $8 million.
Who: City of Tuscaloosa What: The beautification of 11 blocks of Paul W. Bryant Drive that includes new sidewalks, landscaping, decorative lighting and underground utilities. The two-block stretch between Queen City Avenue and 16th Avenue will be widened to three lanes. Where: Phase I extends from Hackberry Lane to 16th Avenue. Phase II extends from 16th Avenue to Lurleen Wallace Boulevard North. When: September 2007 to fall 2008, before football season starts. How much: $8 million.
Paramount
Who: MMI Hotel Group of Meridian, Miss. What: A business model Hyatt Place hotel with at least 140 rooms. Located on the old CityFest lot. When: Unknown. The city is in talks with the developer.
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Who: Tuscaloosabased Builders Group Development LLC What: A five-floor, 57-unit condominium complex on the former site of Mike & Ed’s and Central Square Apartments. When: Unknown. Still awaiting sufficient pre-sales to go forward.
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Best places to work
Do you know what’s expected of you at work? Do you have the materials and equipment to do your job well? Do you have the opportunity to do your best work every day? If you answered yes to those questions, your company might have earned a Great Workplace Award from the Gallup Organization for fostering an engaged work force. Gallup honored the following 12 winners, in no particular order, for 2007: Wholesale distributor ABC Supply Co. Inc., British home improvement chain B&Q, health insurer Blue Care Network of Michigan, Campbell Soup Co., Hendrick Health System of Texas, Marriott Vacation Club International, Starbucks Corp., St. Joseph Health System of California, medical device manufacturer Stryker Corp., The Park Hotels of India, Wells Fargo and Co. Regional Banking and hotel management company Winegardner & Hammons Inc.
What: An 80,000-squarefoot conference center, which includes a ballroom and 250-space parking deck to be located near the proposed hotel. How much: Unknown.
By Matt Hawk
Need job. Can U help?
Thanks to technology, new graduates have a few more tools in their job-hunting belts. Instant messaging and text messaging are the new networking go-tos — but exercise some caution before you hit send. Job seekers can enlist the help of friends, classmates and family members in their instant and text message contact lists in their work search, said Greg Gostanian of the outplacement firm ClearRock. Those people can then lead to commonly overlooked networking contacts, such as doctors, clergy and hairstylists. While instant and text messaging are quick and convenient forms of communication, they’re not acceptable when asking for a meeting or job interview with someone you don’t know well, Gostanian said. Even if you get your hands on someone’s text address or instant message name, don’t make initial contact that way. Unsolicited messages are often unwelcome and likely will wind up in the delete bin. “I don’t think there’s any substitute when you’re networking for a phone conversation,” Gostanian said.
Proposed: Proposed: Conference Hyatt Place Center Hotel
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Who: Park Place LLC What: An 11-story, 89-unit condo complex aimed at young professionals, artists and small-business owners. To feature underground parking and 4,400 square feet of retail space. Where: On 21st Avenue, just south of University Boulevard. When: Initially slated for completion in December 2007, the project has been delayed indefinitely until sufficient units are pre-sold. How much: $20 million
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Parking Deck and Intermodal Facility What: A four-story, 400-space parking deck with ground floor intermodal transportation facility featuring offices for Greyhound Lines, Amtrak and taxi companies. When: Construction to begin in January 2008. How much: $10 million.
21st Avenue Drainage Project Who: City of Tuscaloosa What: Project to improve drainage along 21st Avenue by replacing an aged drainage culvert beneath the road with a modern pipeline. When: March 2008 How much: $2 million.
Federal Building/Park What: A 130,000-square-foot structure to replace the federal building on Greensboro Avenue. It will adjoin a new park and plaza stretching across nearly two city blocks that is intended to provide downtown with a public gathering space. When: Construction of the federal building is tentatively planned to begin in 2009. Work on the park and plaza will begin in January 2008. How much: $55 million for the federal building; $2 million for the park and plaza.
Drake/DeSoto Condominiums
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University Boulevard and 21st Avenue Streetscape Project Who: City of Tuscaloosa What: Streetscape effort similar to that along Bryant Drive. Details of the project have not been finalized. Where: University Boulevard from 23rd Avenue to Queen City Avenue, 21st Avenue from Jack Warner Parkway to 7th Street. When: January 2009 to Winter 2010 How much: $4 million.
Who: Olympia Property Co. What: Two seven-story, 27-unit towers, with the first floor of each tower devoted to commercial use. The towers will be joined by a covered parking deck and connected to the Paramount project by a walkway. Aimed at students, UA alumni and professionals. When: Construction is tentatively scheduled to begin in the fall and will last a year. How much: $14 million.
STAFF GRAPHIC | ANTHONY BRATINA
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HOME EQUITY LINE OF CREDIT
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The fixed introductory rate of 6.00% Annual Percentage Rate (APR) will apply for the first six billing cycles of your account. (The number of days in your first billing cycle may vary based on your account opening date.) Beginning with the first day of your seventh billing cycle, the variable APR could be as low as prime minus 1%, currently 7.25% as of 4/24/07. Your APR will be based on several factors including credit history, the amount of your line, the value of your home and may be higher than the rate set out above. The maximum APR is 18%, except in Florida, where it is 17%. Closing costs are estimated to range between $150 to $2,000. First National Bank of Central Alabama will pay all closing costs provided an initial advance of at least $10,000 is funded and remains outstanding for at least six months. If you payoff the line within the first eighteen months, closing costs paid by FNBCA will be pro-rated and charged back to your line. Property insurance is required including flood insurance where applicable. Consult your tax advisor regarding deductibility of interest. Offer subject to approval, including credit approval.
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ALICEVILLE CARROLLTON GORDO REFORM NORTHPORT TUSCALOOSA (205) 373-6367 (205) 367-8701 (205) 375-2233 (205) 364-7177 (205) 752-2744 (205) 469-1700
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