Columbia Business Times - January 2014

January 2014

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Hal James, president, MO Credit Union

Take It to the Bank?

New services affect

out of office Three local execs hit the streams, skies and stables Pg. 54

traditional banking Pg. 44

20 Under 40

Presented by Stephens College

behind the banks Pg. 50

Pg. 30

Top Dollar Pg. 43

BOOKKEEPING STRESSING YOU OUT?

WE CAN HELP WITH THAT.

Because you have better things to do.

(573) 443-1234 • www.Moresource-inc.com • 401 Vandiver Dr., Columbia, MO Payroll • HR Consulting • Employee Benefits • Insurance • Training • Bookkeeping • IT Managed Services columbiabusinesstimes.com /// 7

8 \\\ January 2014

columbiabusinesstimes.com /// 9

Join us...

• • •

Chef Daniel Pliska John LaRocca

for our outstanding gourmet lunch for our extensive catering service for our exclusive dinner experience

UNIVERSITY CLUB OF MU • UNIVERSITY CATERING & EVENT SERVICES 107 Donald W. Reynolds Alumni & Visitor Center, Columbia, MO 65211

www.uclub-mu.org • (573) 882-2586 www.catering.missouri.edu • (573) 882-2188 • (573) 882-9048

From the Publisher

Editorial Chris Harrison, Group Publisher ChrisH@BusinessTimesCompany.com Sarah Redohl, Managing Editor SarahR@BusinessTimesCompany.com Katrina Tauchen, Copy Editor Katrina@BusinessTimesCompany.com

20 Under 40 ›

DESIGN Kristin Branscom, Art Director Kristin@BusinessTimesCompany.com

It’s always interesting to see someone out of his or her ordinary element. I remember being 6 years old and trudging behind my mom at the grocery store when we bumped into my first-grade teacher. To this day, I can recall the fascination of seeing my teacher at the grocery store. It was my first realization that Mrs. May actually had a life outside of school. She bought groceries. She wore jeans. Wow. I didn’t think she lived at the school, but to see her out of her element was fascinating to me at the time.

We often interact with business associates but have no idea what their lives are like when they step out of the business world. The cover feature this month follows the leaders of three local financial institutions out of the office and into the wild.

It is very likely you have only seen these individuals in business suits, but as we find out, each one Photo by has a more adventurous side.

Taylor Allen This month we also honor the Columbia Business Times’ 20 Under 40 class of 2014. The 40 Under 40 awards began in 2003 as an awards program designed to honor 40 individuals under the age of 40 years old. In 2009 we made the decision to rename the event 20 Under 40, though the concept did not change, to honor the future leaders of Columbia for their contributions to our community. Trimming this list to only 20 honorees has made the selection process a very difficult task. These young business leaders possess a wide variety of talents, including business acumen, entrepreneurship, community involvement and leadership.

I came to the Columbia Business Times in January 2005 and had the opportunity to award the 2005 class of 40 Under 40. I remember distinctly the caliber of the nominations we received and the intense discussion that took place at our final committee meeting to decide the final few of that group of 40. This year was no different. We received 90-plus nominations from virtually every industry sector. The nominations came from colleagues, supervisors, vendors, customers, friends, family members and associates at all levels. It was an impressive group and a daunting task, and we are very proud to present the class of 2013 to you this month. These individuals will be honored at our bi-annual 20 Under 40 awards banquet. Thank you to Stephens College for sponsoring this group of current and future leaders. If you would like more details about the event, you can go to our website, columbiabusinesstimes.com.

As always, we hope you enjoy this issue as much as we enjoyed putting it together for you. We love feedback, good and bad, so don’t hesitate to email me any time at chrish@businesstimescompany.com.

Best,

January 2014

➺

Hal James, president, MO Credit Union

Take It to the Bank?

New services affect

OUT OF OFFICE Three local execs hit the streams, skies and stables PG. 54

traditional banking PG. 44

20 UNDER 40

Presented by Stephens College

BEHIND THE BANKS PG. 50

PG. 30

Chris Harrison, Group Publisher

Top Dollar PG. 43

Mid-Missouri financial executives Hal James (pictured), David Keller and Teresa Maledy head out of the office and into the great outdoors to sharpen their management skills and reignite their passions.

Story on page 54. Photo

by Anthony Jinson.

Creative Services Gillian Tracey, Creative Marketing Assistant Gillian@BusinessTimesCompany.com Digital MEDIA Kristi McCann, Digital Assets Manager Kristi@BusinessTimesCompany.com MARKETING REPRESENTATIVES Erica Pefferman, Director of Sales Erica@BusinessTimesCompany.com Angie Huhman, Marketing Consultant Angie@BusinessTimesCompany.com Mason Neff, Marketing Consultant Mason@BusinessTimesCompany.com CONTRIBUTING PHOTOGRAPHERS Taylor Allen, Anthony Jinson, Kendra Johnson, Tim Nwachukwu CONTRIBUTING WRITERS Megan Thomas Davis, Al Germond, Kelsey Gillespy, Vicki Hodder, Abby Kass, Jake Klinghammer, Kristi McCann, Monica Pitts, Sarah Redohl, Molly Wright Interns Madison Alcedo, Steven Benna, Claire Boston, Abby Connolly, Kaylie Denenberg, Kendra Johnson, Abby Kass, Victoria Ross MANAGEMENT Chris Harrison, General Manager ChrisH@BusinessTimesCompany.com Renea Sapp, Business Manager ReneaS@BusinessTimesCompany.com Cindy Pudney, Operations Manager CindyS@BusinessTimesCompany.com Erica Pefferman, Director of Sales Erica@BusinessTimesCompany.com SUBSCRIPTIONS Subscription rate is $19.95 for 12 issues for 1 year or $34.95 for 24 issues for 2 years.

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About The Last Times What people are saying

13

July 20

I just got a copy of your [November] issue and wanted to compliment you on the excellent story on law enforcement in the area. We need more stuff like this, and your staff did a phenomenal job. Congratulations on an excellent issue and an A++ article on law enforcement. Keep up the great work.

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SEEKING-IT MR. FIX

Joe Alder, Safer Columbia Action Network

PG. 46

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January

What's happening online Sarah Hill @SarahMidMO 2 Dec Nerdy! "@ColumbiaBiz: Attending Google Glass event @ MU today w/ @ jenleereeves @SarahMidMO from @VU_CoMo!

2013

PAYING C EMPLOYEITY First in ES the City

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Dr. Sean Siebert @DrSeanSiebert xx Thank you @ColumbiaBiz!!! Entrepreneurship is my passion and I really appreciate all that your publication does for the startups in #CoMo.

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20 Under 40

Corrections

Subscribe Today 573.499.1830

Biz Crossing is one of a number of operational business brokerage services in mid-Missouri. (December, Business Update)

Write to CBT editor Sarah Redohl at Editor@BusinessTimesCompany.com

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PG. 47

Don’t forget to buy a ticket (or a table) for our 20 Under 40 celebration Jan. 22 in the Kimball Ballroom at Stephens College. Join us at 6 p.m. for small plates and mingling, and the presentation will begin at 7:30 p.m. Live music to follow. See you there!

Jo Mooney has been promoted to senior vice president at Landmark Bank. Congratulations, Jo! (November, Movers and Shakers)

2013

ColumbiaBusinessTimes.com columbiabusinesstimes.com /// 15

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As a small business owner, I don’t have time to keep up with payroll, bookkeeping, business and personal tax returns, etc. The services they offer have been saving me time and money since 2009.

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January 2014

Vol. 20, Issue 7 columbiabusinesstimes.com

Departments

54 Out of Office

Three local financiers take to the stream, sky and stable to sharpen their management dexterity and enjoy a lifelong passion.

30

43

13 15 19 20 23 24 27 29 61 63 65 66 69 70 71 72 74

From the Publisher Letters to the Editor Movers and Shakers Briefly in the News A Closer Look Business Update P.Y.S.K. Opinion Nonprofit Spotlight Technology Celebrations Deeds of Trust Economic Index Business Licenses By the Numbers 6 Questions Flashback

44

50

20 Under 40

Hey, Big Spender

Money and the Web

Back-Office Banking

Young and savvy with energy to spare: Meet CBT’s 2014 class of emerging leaders from the Columbia business scene, presented by Stephens College.

Looking for a $98,000 diamond or an $800 shiraz?

These top-dollar products from local businesses will put disposable income to work.

As new Web ventures reinvent the means behind a typical business transaction, brick-and-mortar banks are innovating to keep up with the competition.

Go behind the scenes with four banking powerhouses, with regional back-office banking operations stationed right in our backyard.

18 \\\ January 2014

Movers and Shakers

➜ Are you or your employees

making waves in the Columbia business community? Send us your news to Editor@BusinessTimesCompany.com

›› Professionals grow, serve and achieve

Parshall

Sturgis

›› True North Two additions have been made to the True North Board of Directors. Lee Terry Russell, CEO of the Columbia Board of Realtors, and Linda Bennett, assistant in the Provost Office at the University of Missouri, will both help make crucial decisions about safety and assistance for domestic violence victims who seek the shelter’s help. ›› Stephen Parshall UMB Bank welcomes Parshall as the new vice president and commercial banking officer in commercial loans. Prior to his hire, he was employed at Central Trust Bank in Jefferson City and brings a total of nine years of experience to his new position. ›› Dr. John Lauriello Lauriello, currently a professor and Chancellor’s Chair of Excellence in Psychiatry at the MU School of Medicine and medical director of the Missouri Psychiatric Center, was elected as a member of the American College of Psychiatrists. ›› MidwayUSA MidwayUSA is expanding as a company, which resulted in the hiring of Justin Clementz and Dan Berkholder. Clementz will serve as the database administrator, which includes managing the company’s information database and sharing valuable data with almost all departments. Berkholder is the new product line manager for footwear and clothing.

Clementz

swetz

›› Josh Pell Learfield Sports has hired a new account executive. Pell will join the company’s exclusive multimedia rights holder for the University of Missouri, Mizzou Sports Properties. ›› Dr. Paul W. Sturgis A former lecturer at Truman State University, Stugis was hired by William Woods University to serve as director of institutional research. He has a background in sociology and criminal justice studies from Lincoln University in Jefferson City, where he earned his Ph.D. ›› Sabe Caton Caton will function as operations manager for 21st Century Seed Inc. In this position, he will coordinate seed order and shipments, marketing, advertising and other duties. ›› MBS Textbook Exchange Inc .

The following employees have been promoted to direct partnership managers: Tanner Tucker, Lloyd Jacobs, Hunter Wenger, Sean Dennehy, Edgar Ailor, Nick Barnett and Eric Guthrie. ›› Wendy Swetz Swetz, formerly the owner of JWR Brokers & Associates, has joined forces with Columbia Real Estate. With nearly 10 years of mortgage lending experience and almost six years of real estate experience, Swetz will now manage Columbia Real Estate.

Munson

Ropp

›› Jody Munson Boone County National Bank celebrates Munson’s accreditation as an Automated Clearing House Professional. Her certification gives her the ability to assist corporate customers with their ACH transactions and other cash-management questions. ›› Tammy Breid Tammy Breid has been named the new real estate lender for Landmark Bank in the Columbia market. The position will move her from Moberly County Bank, where she served as vice president and real estate loan officer.

Breid boasts 25 years of real estate lending experience. ›› The Bank of Missouri The Bank of Missouri announced the promotions of Mary Ropp to senior vice president, director of development, and Karin Bell to small-business administration manager. ›› Matt Hupfeld A new chief financial officer has been named for Learfield Communications Inc. Hupfeld has 20 years of experience in the corporate financial world, including working in Fortune 500 environments. ›› William Woods University Anne Osborn and Riley Groves were both recognized as 2013 Outstanding First Year Teachers. The Missouri Association of Colleges for Teacher Education gave the awards. CBT

columbiabusinesstimes.com /// 19

Briefly in the News

›› A rundown of this month’s top headlines

Airport dollars The Department of Transportation confirmed that it contributes 100,621 jobs with payrolls totaling $3.1 million to the Missouri economy through the 108 airports it supports. The total economic output of Missouri’s system of airports is estimated at $11.1 billion, which equals 4.3 percent of the gross state product.

During the past decade, Missouri airports have contributed 17.1 percent more to the economy, and Don Elliott, airport manager at Columbia Regional Airport, says it was predicted that 2013 would be the year for the most passengers flying in and out of that airport.

Roots N Blues N BBQ An astonishing 35 countries were represented at the 2013 Roots N Blues N BBQ Festival that took place from Sept.

20 to 22. A total of 22,250 fans traveled to Columbia to experience the music, food and entertainment of the festival.

Roots N Blues brought in $1,205,842 in economic impact to the city of Columbia and the state of Missouri, according to the Convention and Visitors Bureau Economic Impact Study. The Blues in Schools program saw growth from the previous year by adding four participating schools. The half marathon and 10K races had 1,378 runners, and the location change to Stephens Park offered 49 acres of space to utilize.

Next year’s festival will take place from Sept. 26 to 28.

Treehouse Treasures ranked 12th

Sara Cochran, an assistant director at Drury University’s Edward Jones Center for Entrepreneurship in 2011, decided she needed to experience firsthand the trials of being an entrepreneur. The outcome? Treehouse Treasures, an online boutique specializing in ecofriendly items for babies and children, which launched on Sept. 25. Cochran is now a higher education doctoral student at MU who participates on the #BOOM Task Force, is a member of the Columbia Chamber of Commerce and supports other local startups.

Running at Rock Bridge Missouri is ranked 12th in the nation for the number of international students enrolled in state colleges and universities. During the 2012-2013 academic year, more than 17,300 international students chose to study within the state of Missouri, according to the Institute of International Education’s Open Doors 2013 report. More than a third of those students have temporarily relocated from China, while other high-represented countries include India, South Korea, Japan and Saudi Arabia. MU enrolls the most international students with 2,490 students.

20 \\\ January 2014

Rock Bridge Elementary will now have a track on the school’s property, thanks to grants, donations and pledges that helped the school reach its financial goal. The fundraising committee was made up of Rock Bridge parents and staff, and they began their endeavor last spring. The new track will be built on the east side of the playground. Local contributors include Boone Electric and the MFA Oil Foundation. Construction on the track will begin as soon as Columbia Public Schools completes an updated HVAC system on site.

What’s happening

Safety tech FLU Tech Electronics is now offering a new Technical Service Desk that will allow customers to better maintain life-safety and communications systems. Across six area locations, the service provides faster response and a more cost-effective way to maintain the systems.

success Students at William Woods University won a $33,000 grant for SERVE, a nonprofit social service agency in Fulton. The winning students were learning successful techniques in their grant-writing class at WWU. Katie Atterberry and Heather Rogers wrote a proposal to the Food Bank for Central and Northeast Missouri, which is providing the funding to SERVE.

Missouri students’ math and reading scores have continued to increase since 2009, and Missouri is now ranked the eighth-highest state for high school graduates, according to the Missouri Department of Economic Development.

Smoke signals

Research at MU reminds smokers that their habits are the No. 1 cause of preventable cancer.

According to the Centers for Disease Control, approximately 200,000 people in the United States are diagnosed each year with lung cancer. Although other factors play into the diagnosis of lung cancer, smoking remains the single most frequent cause. More than 150,000 people die from this disease each year.

“In order to understand lung cancer, you need to know about smoking and the effects of secondhand tobacco,” says Dr. Vamsi Guntur, a pulmonologist at University Hospital.

Forty-one percent of enrolled Boone County elementary and middle school students received flu vaccinations during clinics held from Oct. 1 until Nov. 6. All 7,651 students received the free vaccination from public health nurses who were supported by MU Children’s Hospital and the David B. Lichtenstein Foundation. Vaccinations are still available at 1005 W. Worley in Columbia, and adults and children are encouraged to come in from Monday through Friday from 8 a.m. until 4:30 p.m.

MIZ-BIZ Graduates of the Trulaske College of Business now have the opportunity to leave college with specialized skills in risk management and insurance for corporations, individuals and businesses.

The $1 million in donations was funded with the help of corporate and private donors such as Duncan and Shirley Matteson, Tom and Betty Scott, Peter and Ellen Clune, Missouri Employers Mutual, Columbia Insurance Group and Shelter Insurance.

Virtual vets Classes begin this month for the University of Missouri College of Veterinary Medicine’s online master’s program. The biomedical sciences degree with an emphasis in veterinary medicine and surgery is a 30-hour program designed for working vets and vet technicians. The online program allows them to earn their degree without having to relocate or even leave work.

Purchased Gas Adjustment A new Purchased Gas Adjustment offers Ameren customers lower rates for natural gas this winter. Jim Massmann, gas supply director, says Ameren Missouri has secured adequate natural gas supplies to meet customers’ needs during the upcoming heating season. A significant portion of the gas supply costs are hedged or price protected to insulate customers from market price volatility. The lower rates result in lower wholesale costs. The PGA has been effective since Nov. 1, 2013. CBT columbiabusinesstimes.com /// 21

22 \\\ January 2014

A Closer Look

New Businesses in

Columbia

›› A quick look at emerging companies

1. Altar’d State

3. MaidPro

Looking for a way to give back while you shop? Altar’d State is a new retail store in the Columbia Mall that focuses on fashion that gives back. In 2009, Brian Mason and Aaron Walters started the company in Knoxville, Tenn., and it was founded as a modern Christian retailer. They offer a selection of clothing and accessories.

Today, the company has more than 25 locations across the Southeast. Every Monday, Altar’d State donates 10 percent of the proceeds of the day to a different local charity. The company also funds employee volunteer hours and works with vendors to give back.

Contact: Amanda Randolph, 573-445-8950

Professional cleaning on your terms, MaidPro is the newest cleaning service that allows you to customize your needs on your budget. Located at 1400 Heriford Road, Suite 103, the company specializes in cleaning kitchens, bathrooms and floors and dusting based on a 49-point checklist.

The cleaning pros work with you to create a service that will fit the needs of your home.

You can choose one time, weekly, bi-weekly or monthly cleaning to fit your schedule.

The cleaning pros are expertly trained, provide the highest-quality clean and use safe and effective supplies, including many products that are green and eco-friendly.

Contact: Randy Leasure, 573-303-5248

2. Orange Leaf Frozen Yogurt

4. Paint the Town

Orange Leaf Frozen Yogurt has more than 70 flavors, with 16 on tap that change regularly. Add more than 30 toppings, and your sweet treat can be unique. The frozen yogurt is made fresh daily and mixed in a proprietary serving machine to make it richer and creamier. The business offers dairy-free and vegan options, too. Orange Leaf is also committed to supporting the community and partners with local charities and organizations. The Columbia location, at 2101 W. Broadway, Suite 101, adds to the more than 350 stores across the country. Orange Leaf is also known for its fun and unique spoons.

Contact: Lance McCarter, 573-445-7722

Have some fun while working on your painting skills at Paint the Town. Located at 2703 E. Broadway, Paint the Town is a “paint, drink and party” destination, as its website states. At Paint the Town, they offer painting classes and open classes during the day. Host your next party, team-building or date night there. You can listen to music while painting and also enjoy some “liquid inspiration,” as they call it. The business also offers a full bar with wine, mixed drinks and beer, along with other specials. You can design a canvas or glassware, such as wine and martini glasses, based on the paintings featured around the store or your own creation.

Contact: Monty Murphy, 573-777-7795

5. Volt Workforce Solutions Volt Workforce Solutions has been the premier global staffing company for more than 50 years. They work with both job seekers and employers to find jobs that fit.

They start by learning the ins and outs of a client’s business, including its industry and market. Recruiters bring knowledge about the industry and help clients find candidates who will fit in the jobs.

Candidates can call to apply or apply online.

If qualified, a recruiter will meet with the candidate, help tailor his or her resume and help with interview skills for the job.

Contact: Alicia Otis, 573-886-8918

6. Tiger Academy of Gymnastics With a new home, the Tiger Academy of Gymnastics is ready for a fresh start. After more than 30 years at the University of Missouri, Tiger Academy now has its own facility located at 3609 Mojave Court. The new facility includes all the equipment needed for gymnastics, much of which was purchased through fundraising. Tiger Academy of Gymnastics offers classes for children age 2 through high school. More than 450 kids are enrolled in classes. Once kids have progressed enough, they can compete in meets. Not only does the business provide gymnastics instruction, but it also teaches confidence, health, responsibility, respect, determination, family and fitness.

Contact: Tiger Academy of Gymnastics, 573-814-5000 CBT

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➜ Are you an entrepreneur? Are you sprouting a new business? Tell us about it at Editor@BusinessTimesCompany.com columbiabusinesstimes.com /// 23

Gary Drewing, owner, Joe Machens Automotive.

Photo by Anthony Jinson.

24 \\\ January 2014

Business Update

›› Transformed, trending and up-to-the-minute

All Things Machens The story behind automotive giant Joe Machens In 1969, Hee Haw, The Brady Brunch and Room 222 made their debuts on TV, Hollywood released the blockbuster Butch Cassidy and the Sundance Kid and Neil Armstrong walked on the moon. In the same year, Joe Machens purchased his first car dealership, which lead to the creation of a multi-franchise company and made him a household name.

“We’ve branded the Machens name for 44 years,” says current owner Gary Drewing. “It is something we are very proud of.”

Drewing joined the company in 1983 as a partner and general manager. Following Machens’ death from a long illness in 1997, Drewing partnered with Joe’s son, Dave Machens, and eventually bought out the younger Machens in 2006 to become sole owner of the company.

Growing, growing, gone Although Machens has expanded considerably since its humble beginnings 44 years ago, 2013 has been exceptionally productive. In February they opened the Machens Auto Outlet, which offers wholesale-priced vehicles to the public.

Two months later after buying Fletcher Chrysler Dodge Jeep Ram on Providence, they opened Joe Machens Chrysler Dodge Jeep Ram. October saw the grand opening of the Joe Machens Toyota Scion facility, which to date is the largest Toyota Scion dealership in the state of Missouri.

In the same month, the old Toyota Scion facility on Bernadette became home to the Joe Machens Pre-owned Supercenter, which Drewing says will also be used to service, recondition and detail preowned vehicles.

“We will also move the marketing, HR and IT to the Supercenter,” he says. November was monumental, too, as the Joe Machens Nissan Preowned Center opened its doors in the old Albert Honda facility, creating a second location of the Joe Machens Nissan store.

Mary Jo Henry, Joe Machens director of marketing, says she feels customers benefit greatly

with each expansion. “This gives us the opportunity to give the mid-Missouri area many choices with their vehicle purchasing and servicing,” she says.

For Drewing, the newer facilities allow the company to raise the customer experience to a new level, which he feels is important in today’s competitive environment. “Whether it’s for parts or service or buying a car, we want them to experience the wow factor,” he says. “We track our market share quite closely, and we think it’s right at 80 percent in this area.” Their target market additionally includes surrounding areas.

“We probably sell 65 percent of our sales outside of Boone County,” Drewing says. “Our goal is for each of our franchises to outsell everybody in the St. Louis and Kansas City areas.” In this respect, the Internet has become the company’s No. 1 marketing tool.

“A conservative estimate is probably 80 percent of our buyers are on our website before they visit any of our locations,” Drewing says.

Ingredient for success Although a recognizable name and expanded locations and services are important, Drewing believes providing exceptional customer service will always be the key ingredient for success. “The main thing we stress with every meeting, with every franchise, with every store, with every employee is customer satisfaction,” he says. “Our goal is not to sell them one vehicle; we want to sell them 15 vehicles. We want them to tell their neighbors, their friends.”

Henry echoes Drewing’s words. “Our No. 1 priority at all of our stores is our customer satisfaction,” she says. “We like to think that we’ll take such good care of them that they won’t even consider another dealership for their vehicle needs.”

Today, with 15 sales locations offering Ford, Lincoln, Toyota, Scion, BMW, Mazda, Mercedes-Benz, Mitsubishi, Hyundai, Nissan, Volkswagen, Fiat, Chrysler, Dodge, Jeep and Ram; two body shops;

koficars ng

By Molly Wright and a rental department, the company is doing well indeed. “Our biggest competition is often our own dealerships,” Drewing says. But he also feels there is room for future growth and plans to look for more opportunities in 2014. For instance, though the Joe Machens Ford Lincoln store on Worley has held the title of the No. 1 store in the state for 17 years, it’s on the drawing board for a makeover. The business also expects to increase its total number of employees: from 920 to more than 1,000.

Henry says, overall, they will continue to look into opportunities that are good business decisions.

“Our goals are very high,” Drewing says. “I have an old saying: You either get better, or you get worse. Our goals go up every year, and we try to get more market share in all areas.”

Drewing believes Columbia is the ideal location to make this happen. “We love Columbia,” he says.

“I always say, ‘Columbia is not only a great place to live but a great place to be in the automobile business.’ We don’t think there is any market better than Columbia.” CBT

Joe Machens Locations Joe Machens Ford Lincoln ......................................1911 W. Worley Truck Center . ...........................................................600 Bernadette Joe Machens Pre-owned Supercenter ..............900 Bernadette Machens Vandiver ........................................................416 Vandiver Joe Machens . ....................................................1710 I-70 Drive SW Joe Machens BMW . ........................................1510 I-70 Drive SW Joe Machens Nissan .................................................. 201 Nebraska Joe Machens Nissan Pre-owned Center....... 1717 N. Providence Joe Machens Automotive Group ..............................500 Vandiver Machens Auto Outlet ..................................................700 Vandiver Joe Machens Volkswagen of Columbia ................1200 Vandiver Joe Machens Hyundai ..............................................1300 Vandiver Joe Machens Chrysler Dodge Jeep Ram................1310 Vandiver Joe Machens Toyota Scion .......................................1180 Vandiver Joe Machens Capital City Ford Lincoln . ...................... 807 Southwest Blvd., Jefferson City Additional departments include: Joe Machens Rental Department .......................1508 W. Worley Joe Machens Body Shop ......................................600 Bernadette Joe Machens East Collision Center ....... 1606 Commerce Court columbiabusinesstimes.com /// 25

Meet Bill Johnson, owner of Mr. Rooter. Bill just received an SBA loan from The Bank of Missouri to expand his successful plumbing business with the purchase of additional equipment, a new vehicle and to refinance existing debt.

An SBA loan from The Bank of Missouri is one of the best financing options for small and growing businesses. An SBA loan can help you finance an entire business, equipment and fixtures, business real estate and much more.

Meet our SBA Lending Division team, from left to right: Karin Bell (Vice President, SBA Manager), Keith McLaughlin (retired), Crystal Morris (Administrative Assistant), Geoff Karr (Loan Officer).

26 \\\ January 2014

P.Y.S.K. Person You Should Know

Alex LaBrunerie Investment adviser/president, LaBrunerie Financial Services Inc.

›› Job description: Investment counseling, management of the only locally-owned broker/dealer in mid-Missouri. ›› Years lived in Columbia/mid-Missouri: Twenty-four recently, plus 18 of my youth ›› Original hometown: Columbia ›› Education: St. John’s College, Santa Fe, N.M.

Age:

50

›› Community involvement: Asian Equity Research Institute Board chairman, MU Department of Economics Advisory Board, Museum Associates, R.A.I.N., Sacred Heart Church, Ragtag and KBIA underwriter ›› Professional background: Transamerica Life Companies, Los Angeles; IIT Financial Services, Denver; LaBrunerie Financial ›› A favorite recent project: Revitalization of an internship program at our firm ›› A Columbia businessperson I admire and why: My father, Ferd, who set a foundation of integrity in a business fraught with conflict of interest elsewhere. ›› Why I’m passionate about my job: I’ve seen many of my clients reach their retirement and feel great satisfaction with what we have achieved together. Helping families prepare for their financial futures is exciting. ›› If I weren’t doing this for a living, I would: Play Major League Baseball. ›› What people should know about this profession: The most elusive skill necessary for this profession is learning to seek wisdom in a sea of information. ›› What I do for fun: Travel, family time, hike, read history and biography ›› Family: Wife of 28 years, Robin; son, August, age 20; and daughter, Lark, 18 ›› Accomplishment I’m most proud of: Convincing Robin Larkin to marry me.

Photo by Anthony Jinson

Favorite place in Columbia: Peace Park. It’s a gateway between the town and its main institute of learning.

›› Most people don’t know that I: Interned at the 1984 Summer Olympics in Los Angeles and accompanied mascot Sam the Eagle. CBT columbiabusinesstimes.com /// 27

28 \\\ January 2014

Roundtable › Al Germond

point-of-view

Downtown Development Pause Some were not surprised to learn that the complex web of largely buried downtown utility infrastructures — water, electric and sewer — is about to be overwhelmed if the accelerated pace of downtown development, some of it high-rise in nature, is allowed to continue. These alarms represent the opportune time for broad reviews of citywide infrastructure amidst Al Germond is the growth that’s both enviable and vexing. host of the Columbia Until the recent rash of apartment develBusiness Times opments and several high-rise city-owned Sunday Morning parking garages began altering the downRoundtable at 8:15 town skyline, the central city’s vertical proa.m. Sundays on KFRU. file was less than it was a half century ago.

He can be reached at Aside from a couple of city-owned parkal@columbia business ing lots, it’s mostly a case of losses. In times.com.

October 1963, the upper floors of the threestory O’Rear Building at the northwest corner of 10th and Broadway were removed.

Across the street, 1001 E. Broadway became a parking lot after a May 1983 fire engulfed the Stephens Endowment Building. In 1971, the Semmons Furniture Building at 901 E. Walnut St. — now a park — was another fire victim. Other demolished buildings include the Dorn Cloney Laundry at 115 S. Eighth St. — now a parking lot — and the four-story structure that housed Romano’s Pizza at 1100 E. Broadway, now the site of the Alpine Shop. Demolitions at Stephens College include the Sappington Chapel, Assembly Hall and three dormitories: South, Wales and Hillcrest halls.

Until the recent rash of apartment developments and several high-rise cityowned parking garages began altering the downtown skyline, the central city’s vertical profile was less than it was a half century ago.

Management and the university impact Impact of these reductions on the downtown utility infrastructure is rather negligible of course, but our collective failure to anticipate, plan, finance and execute certain infrastructure upgrades has been regrettable, especially given the environmentally attractive press for so-called “infill” development across the central city. Some projects already announced have been put on hold; others still undisclosed may, in fact, never come off. The key to much of this activity is the expected growth of the University of Missouri. With enrollment here stalled at around 35,000, there’s still talk of growing the student body to 40,000, which the existing class and laboratory buildings can accommodate.

Management of the aforementioned city-owned utilities should remain within the realm of their professional management and technical staffs, leaning for advice from paid consultants whose expertise in those fields is well established. Future electric power needs may be the easiest to provide as energy flows down copper wire “pipes” that are reallocated from existing and already budgeted-for substations. It’s metal pipes of a different sort and diameter — water and sewer — and the flows of liquids they can accommodate that could hasten the need for expensive new construction. With this come myriad questions about how to pay for all this work.

Strangely absent from this infrastructure discussion is any mention of deteriorating traffic conditions on city streets. Downtown Columbia heads any list where improvement is desperately needed. The heart of Columbia will slowly asphyxiate itself if increasingly sclerotic traffic conditions continue to advance. Many pretend there’s no problem. We’re encouraged to eschew our vehicles. Walk! Ride a bicycle! Take the bus! Still, the knots of impeded traffic grow and grow, becoming longer and longer each day it seems. Congestion is so bad at certain times on portions of Range Line Street, College Avenue, Providence Road and Broadway that those boulevards should be avoided whenever possible.

Heart of the problem No one has the heart, not to mention the guts and the political willpower, to move the lever when it comes to addressing the downtown street and traffic flow situation. Downtown growth may be stymied by more than just a shortage of electric power, an adequate supply of water at acceptable pressure and pipes large enough to handle future sewer needs if folks can’t readily move in and out of the area. Some have already given up on downtown Columbia and stoutly refuse to have anything to do with the city’s inner area. Others steel themselves for the experience because they have to be there. Maybe the situation will get so bad that one of these days, something will simply have to be done. For now, a downtown development pause may be refreshing, a breather to take stock of that area in particular as well as infrastructure across the city at large. CBT columbiabusinesstimes.com /// 29

Being young has its benefits. A pulse on new trends. Big hopes and dreams. Endless amounts of energy and enthusiasm.

That couldn’t be more true when it comes to the CBT’s 2014 class of 20 Under 40, presented by Stephens College.

“We live in a global society with change and innovation all around, and only through a willingness to try to think and be different can we truly evolve,” says Susan Bartel, dean of the School of Organizational Leadership and Strategic Communication at Stephens College. “This [is a group of] effective multitaskers with a focus on getting the job done more than counting hours.”

With a record-breaking number of nominations, we’ve selected 20 rock stars on the Columbia business scene — all under the age of 40 — who exemplify a desire to grow professionally and personally and help Columbia grow, too.

Please join us in congratulating our class of 2014 on Jan. 22 at 6 p.m. at Stephens College. Tickets are $50 per person or $500 for a table of 10 with premier seating and two bottles of wine from Les Bourgeois Vineyards.

By Sarah Redohl | Photos by Anthony Jinson 30 \\\ January 2014

2 0 und e r 4 0

AGe:

35

Andrea Benna

Assistant director of compliance, University of Missouri, Intercollegiate Athletics “Athletics can be exciting but also high stress.

I’ve had to learn how to always carve out some ‘me’ time, even at my busiest times and with looming deadlines, so I can make sure I’m always at my best.”

AGe:

31

Cale Kliethermes General manager and owner of Kliethermes Homes & Remodeling

“One of my greatest professional accomplishments is in the Marine Corps.

I joined so I could take bombs off the street.

My first tour in Iraq, I stood on top of and removed eight live bombs.”

32 \\\ January 2014

class o f ' 1 4

AGe:

37

Katelyn Jones

Vice president of business development for 3 Interactive “I wouldn’t be where I am today without hard work and perseverance. In any sales or business development role, you can’t take no for an answer...There's nothing more satisfying than seeing hard work pay off.”

AGe:

25

Dale Wright

Executive director for advancement at the Trulaske College of Business “My most significant accomplishment has been leading the fundraising efforts for one of the nation’s top business schools and to directly work with donors who are creating wonderful applied experiences for future business leaders.” columbiabusinesstimes.com /// 33

2 0 und e r 4 0

AGe:

33

Lily Dawson

Owner and designer at Lily Dawson Designs “Once I jumped into this business full time, I was able to really devote the time necessary to make it what it is today.”

AGe:

27

John Meyer

EVP of customer experience with Veterans United “Just being a part of Veterans United through our growth phase has been an amazing experience. Just being able to keep up with all the great people around me is accomplishment enough.”

34 \\\ January 2014

class o f ' 1 4

AGe:

39

Kari Laudano

Owner and project manager of Logistique Studio “Recognize your shortcomings, and seek assistance from others. Don’t let your ego get in the way of your success.”

AGe:

30

Matt Kitzi

Partner at Armstrong Teasdale LLP “I have endeavored to establish Armstrong Teasdale as the first and most prominent large law firm to engage Columbia’s growing business community with actual ‘boots on the ground.’” columbiabusinesstimes.com /// 35

2 0 und e r 4 0

AGe:

26

Izzy Leatherman HR manager at CNW Management LLC

“Utilize your connections and resources.

Never be afraid to call someone and ask.

If other people have the knowledge and expertise, use it.”

AGe:

29

Brian Cunningham

Business development coordinator at Moresource Inc. “I feel like I’m still growing up, but like any other kid, I wanted to be an astronaut, cowboy and president.”

36 \\\ January 2014

class o f ' 1 4

AGe:

33

Monica Pitts

Chief creative director of MayeCreate Design “Being a leader doesn’t always mean everyone is going to like you or the decisions you make. But no one wants to follow a leader who can’t stand up for what’s right or make a decision.”

AGe:

33

Beau Aero

President of Columbia Safety & Industrial Supply “My most significant accomplishment has been founding our company’s not-for-profit organization, the ColumbiaFoundation.org.” columbiabusinesstimes.com /// 37

2 0 und e r 4 0

AGe:

33

Amanda Signaigo-Owens Owner of Tiger Family Chiropractic

“If I weren’t working where I am, I would still be a chiropractor — but I would probably be on the beach, trading adjustments for coconuts.”

AGe:

32

Joel Sager

Owner of Joel Sager Fine Art and PS Gallery “I always surround myself with people whose opinions I respect and admire.”

38 \\\ January 2014

class o f ' 1 4

AGe:

31

Jennifer Bukowsky Founding attorney at Bukowsky Law Firm

“I got the first acquittal on a Boone County murder in 47 years last year. And stay tuned for big things in my pro bono innocence work in 2014.”

AGe:

36

Caleb Rowden

Missouri state representative “Make anything you do about people and relationships. Successes are shallow and shortlived without people to celebrate with you.” columbiabusinesstimes.com /// 39

2 0 und e r 4 0

AGe:

38

Rachel Holman

CEO of Les Bourgeois Vineyards “In my work environment, I’m pulled in a lot of different directions. Being able to change with that has served me well.”

AGe:

31

Peter Stiepleman

Assistant superintendent of Columbia Public Schools “I wanted to do something that was creative, unpredictable, reform oriented and geared toward making the world a better place. I definitely landed in the right job.”

40 \\\ January 2014

class o f ' 1 4

AGe:

37

Emily Holdman

Co-founder of The Remarkables “My most significant accomplishment has been surrounding myself with people who are smarter than me.” CBT AGe:

26

Sean Siebert

Founder and CEO of Invent Yourself LLC “I was a challenging student growing up because I thought outside the box. I challenge people to step out of their comfort zones to be the person they were created to be.” columbiabusinesstimes.com /// 41

Thank you for a great 2013 and 42 years of support !

Every Monday night is Ladies Night!

GET 20% OFF

your purchase every Monday night, Ladies!

42 \\\ January 2014

Sun-Thurs: 7am-12am | Fri-Sat: 7am-2am Knowledgeable, helpful staff | Convenient Parking 101 E. Walnut | Columbia, MO 573-443-4019 | 573-442-6622

Premium Purchases

Top-dollar products for the extravagant spender

By Kristi McCann Most of the time, people search for the best bang for their buck. High end and top of the line are often out of the question.

But let’s put ourselves in a fantasy world.

Money grows on trees, and the sky is the limit. What’s your first impulse buy? Local businesses share their high-end products that make these “dream” purchases a reality, in case you are rolling with some serious disposable income.

$38,995 $800

2001 Chris Ringland Australian Shiraz Top Ten Wines ➤ Made from 100-yearold low-yielding, dry-grown vines ➤ Normally less than 80 cases produced per year

2014 CVO Limited Harley Davidson

Mid-America Harley Davidson ➤ Twin-Cooled High Output Twin Cam 110 engine ➤ Six-Speed Cruise Drive transmission

$4,800

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$3,600

Black Rifle ➤ .338 Lapua Magnum ➤ 20-inch barrel $98,500

$276,800

salvage: folk wood stables & estate fire 1942

PS Gallery ➤ Original Artwork 30-by-40-inch/ framed 40-by-50-inch ➤ Cut paper, roofing tar, oil and bees wax on wood panel

3.04-Carat PearShaped Diamond Buchroeder’s ➤ Internally flawless ➤ D color

2014 SLS AMG Coupe Black Series Mercedes Benz Joe Machens (special order) ➤ Accelerates to 60 MPH in 3.6 seconds ➤ AMG 6.3-liter V8 engine CBT

columbiabusinesstimes.com /// 43

MoneyandtheWeb Amidst a changing industry, alternative services spur banks to innovate.

By Vicki Hodder

44 \\\ January 2014

With a business based on the global Internet network, most of Neil and Jessica Kohler’s Web design and development clients are headquartered out of town or even out of the country. So the Columbia couple primarily uses PayPal to send invoices and receive payments for the work they do through their small part-time business, Kohler Creative and Consulting. Some 95 percent of the Kohlers’ clients pay through PayPal or payment providers such as Amazon Payments or Google Wallet, Neil Kohler estimates, to avoid having to send credit card information over the telephone or in an email. Still, Kohler’s perspective on the payment provider is mixed. PayPal is a “necessary evil,” he says, brought on by the long-distance nature of his clientele. The Kohlers’ business income ultimately winds up in a credit union account.

“We use PayPal primarily because our clients use it,” Kohler says.

Not only have clients and shoppers made PayPal a ubiquitous service, but they’re also tapping into a growing number of alternative payment methods. Mobile payments, digital wallets and even alternative currencies are among the financial services that have been gaining traction outside the traditional banking system in recent years.

The Missouri banking industry is responding by developing its own versions of the more popular alternative services and products. Industry leaders are rolling out products ranging from bank-based mobile payment processors to turnkey prepaid cards in order to compete.

“Innovation — technology — is driving new products and services into the marketplace that benefit the consumer,” says Max Cook, president and CEO of the Missouri Bankers Association.

These nontraditional financial services compete with the banking industry on a couple different levels. Some of the most prominent, such as PayPal or digital wallets, add a step to the payment process but don’t necessarily bypass the banking system. The vast majority of digital wallets are linked to a debit, credit or prepaid card that’s been issued by a bank, says Steve Kenneally, vice president of the American Bankers Association’s Center for Regulatory Compliance. The ABA, headquartered in Washington, D.C., is the largest banking trade association in the country.

Even prepaid debit cards aren’t necessarily a nonbank product, though they’re often considered a way to get around having a traditional checking account. Indeed, the banking industry has shown a growing interest in pursuing the prepaid card market.

But other alternative financial services circumvent the banking industry entirely. Crowdfunding, for example, is a way of financing startup projects or businesses by raising money through numerous small investors rather than a bank, usually through judicious use of social media. Bitcoin, a digital currency, is another financial service with increasing appeal that stands outside of traditional banking parameters. columbiabusinesstimes.com /// 45

As Kenneally notes, different banks offer different responses to these relatively new financial-service rivals. But bank officials at various levels consistently argue for regulation of such services, both for consumer protection and to level the industry playing field.

“Our concern is that consumers may chase after the latest shiny payment service without concern for the lack of consumer protections,” Kenneally says. Kenneally contends that any glitch in the payment system — or a more significant problem, for that matter — is liable to reflect poorly on banks because consumers consider banks central to the system.

Cook, of the Missouri Bankers Association, points to banking regulations that he believes slow innovation in the industry when calling for “competitive equality” that produces oversight without overkill.

Competitive response Meanwhile, Missouri banks are working to level the competition on their own. In some instances, alternative financial service providers have created market opportunities for the bank industry.

That’s been the case with Square, the mobile payment company that provides a reader users 46 \\\ January 2014

can hook up to their phones to accept credit card payments. Square’s popularity prompted Central Bancompany about a year ago to start offering QwickPAY, a bank version of the mobile processing service, says Matt Tollerton, the company’s vice president of ecommerce. Central Bancompany is the parent holding company for 13 banks — including Columbia’s Boone County National Bank — in Missouri, Illinois, Kansas and Oklahoma. QwickPAY offers “almost the exact same thing” as Square, plus some additional services such as return processing, Tollerton says.

Central Bancompany is working on providing services now popular through PayPal and other emerging technology companies. Tollerton says the company aims to have a person-to-person payment service ready to go by the end of 2014, for which customers could log into their banking accounts on computers or mobile phones to send money via email or text. Central Bancompany also is working on a digital wallet service, though whether that will come through is uncertain right now, Tollerton says.

“It’s kind of waking us all up,” says Tollerton of the competition from alternative financial services.

The Missouri Bankers Association is alert to the opportunity presented by prepaid cards, a fast-growing payment method that includes such entries as the American Express Bluebird card. Late last year (December 2013), Missouri’s banking association endorsed a turnkey prepaid card program that the American Bankers Association launched in the fall of 2010.

Although these prepaid cards are bank branded, the ABA provides Bank Identification Number sponsorship to member banks, which allows smaller institutions access to MasterCard without the overhead, says Bill Kroll, an ABA subsidiary executive vice president. More than 170 banks throughout the nation have signed up, making it one of ABA’s more active programs, Kroll says.

“This is, I guess, for now, an answer to the Bluebird-type product, though I wouldn’t say it’s the end all,” Cook says.

Even some banks that have taken little note of the competition are prepared. The Columbia branch of The Bank of Missouri rolled out a couple PayPal-like services last summer, though nontraditional financial services haven’t had much effect on the bank, says Donna Duncan, Columbia’s branch operations officer.

columbiabusinesstimes.com /// 47

The services — called Customer Pay Portal and Hosted Pay Page — provide website links that allow organizations and businesses to receive cash or credit payments directly into their Bank of Missouri accounts. “We haven’t really been impacted,” Duncan says. “But we’re proactive; we’re ready.”

Too soon to call Other nonbank financial services are drawing the attention but not a response from banking insiders. Bitcoin, the controversial virtual currency that was the subject of recent U.S. Senate hearings, has some Columbia and mid-Missouri partisan support but continues to be generally viewed with skepticism.

Bank officials say it’s too soon to tell if Bitcoin should be of concern to the industry.

Crowdfunding also inspires little competitive interest. “That is, in my mind, a totally different market,” Cook says.

Columbia artist Paul Jackson agrees. Jackson used crowdsource funding in September 2013 to finance the publication of a collection of his paintings in a book entitled The Wandering Watercolorist. He started planning his crowdfund campaign in January using Kickstarter, billed as the largest funding platform for creative projects in the world, as his base.

By May, he had launched his crowdfunding effort. By the time he ended his crowdfund campaign on July 1, Jackson had raised about $31,000 — exceeding his $25,000 goal.

Most of Jackson’s crowdfunding success came through his Facebook appeals and the following he already had. “If you have an audience already, it’s a great way to go,” he says.

Although an account holder in the traditional banking system, Jackson says he never considered taking out a bank loan to pay for his publication. The interest payments and documentation and other requirements all dissuaded him.

“With crowdsource funding, you’ve got none of that,” he says.

Missouri banking officials might not yet consider these types of alternative services competition, but they are keeping an eye on them.

“It’s interesting because new options get us talking, get us thinking and generating new ideas and ultimately help us create new products and services our customers want,” Central Bancompany’s Tollerton says. “I enjoy seeing these new players and emerging products.” CBT 48 \\\ January 2014

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Nationwide

5,250 employees

134-acre headquarters in Monett, Mo.

1,150

back-office support employees

More than 50 offices

24

Services 2,100 financial service clients

Jack Henry & Associates Commerce Bank

Mo., Texas, Okla.

41

branches

Landmark Bank 249 local

$1.8 billion bank

employees ½ of which do backroom ops

12

back-office departments

50 \\\ January 2014

full-time backroom ops employees

Central Technology Services

35

200 branche

Mo., Ill., Kan., Okla.

employees developing new services

13 banks

200 employees $10 billion company

Tech arm of Boone County National Bank parent company Central Bancompany

3

part-time backroom ops employees

Regional back-office banking operations based in Missouri’s backyard By Vicki Hodder

75,000

customer questions answered in 2013

0es $22.5 billion bank

Mo., Kan., Ill., Okla., Colo.

12

employees for customer records

30

3

employees for return mail

employees for exceptions

13 banks

6

employees for deposit & loan data entry

New York, Charlotte, Chicago: All are well known as cities where American banking business gets done.

Add the Columbia area to that roster of financial centers, in spirit if not in trillion-dollar assets. More back-office banking operations spanning several states — or in one case, the nation — are based in southern or mid-Missouri than many might expect. Some are based right in Columbia.

Although the particular company histories that prompted these back-office banking operations to lay their foundations in Missouri vary, their reasons for staying generally boil down to hometown loyalty. Doing business in Missouri may offer financial benefits — a lower cost of living, less expensive land — but bank leaders say those advantages are not what keeps them where they are. Instead they point to loyal employees, the value of a small-town atmosphere and historic attachments to the communities in which their businesses matured.

“This was home,” Jack Henry & Associates Inc. President Tony Wormington says of Monett, Mo., where the S&P 400 company is headquartered. “So we remained here.”

Here are snapshots of regional back-office banking operations based in Missouri’s backyard.

Landmark Bank Central Columbia is the home base for Landmark Bank’s tri-state back-office operations,

though no single building houses them. Landmark’s back-office employees work out of a handful of Columbia locations that they share with company retail operations to provide support for all the bank’s 41 locations in Missouri, Texas and Oklahoma.

Roughly half of Landmark’s 249 Columbia employees help with those operations, though many bank employees serve in both retail and back-office roles, says Landmark Chief Administrative Executive Sabrina McDonnell, who runs the company’s support services. Whether single or dual purpose, those employees staff nearly a dozen back-office departments focusing on services for the $1.8 billion bank that range from accounting to information technology. There’s the item processing department, which oversees check payments, and the operations department, which includes about seven loan processors who prepare the paperwork required for a closing. Electronic banking department employees help both customers and bankers with Internet banking questions and other electronic products and services, such as debit cards and paperless statements.

And there’s the product development and management department, the section that focuses on service innovations, which recently came to the fore to help roll out Landmark’s Video Teller service last August. Billed as the first of its kind in Missouri, the service features off-site tellers who use video conferencing to interact directly with customers at remote locacolumbiabusinesstimes.com /// 51

tions. Right now it’s available at only a few Landmark locations — including the Stadium Boulevard bank in Columbia — but McDonnell says she believes Video Teller eventually will allow the company to provide better service to a host of customers living in smaller communities that don’t have late or weekend banking hours. “We think it’s going to allow us to enhance service pretty dramatically,” McDonnell says.

Landmark’s back-office services — and the groundbreaking products they launch — originate in Columbia partly because of the bank owners’ ties to the community, according to McDonnell. But McDonnell says there’s more to it than that. Columbia is among the Landmark network’s largest host towns, she notes, with a ready pool of talented employees and an ambience that draws recruits.

“We place our departments wherever it makes sense at the time,” McDonnell says.

Central Technology Services CTS is the technology and services arm of Central Bancompany, a $10 billion parent holding company for Columbia’s Boone County National Bank and 12 other banks in Missouri, Illinois, Kansas and Oklahoma. Based in Jefferson City, CTS houses about 200 employees to provide technology and day-to-day operations services for all the holding company’s banks, says Russell L. Goldammer, CTS CEO and president.

About 35 of those technology professionals focus on developing new services requested by the holding company or individual banks within its system, Goldammer says. So when Central Bancompany calls for new person-to-person payment or digital wallet services, it’s CTS technology experts who respond.

“They do the ‘what,’” Goldammer says. “It’s our job to say how we do it.”

Other CTS technology employees handle regular maintenance and support for the banking data center located in the Jefferson City headquarters and operate a central technical help desk that resolves the vast majority of calls for assistance from their desks. Six CTS technology professionals are dedicated to data security, Goldammer says, and install and manage security systems throughout the banking network.

About 85 of CTS’ employees work in operations and services and perform a wide array of daily services. For example, three full-time employees are dedicated to handling return mail. Between 5,000 and 8,000 pieces of conventional mail are returned to the company’s banks each month, Goldammer says, and the CTS employees seek to determine 52 \\\ January 2014

why and find the proper address for those customers. Another roughly 30 employees deal with exceptions — such as disputes or special requests — and other deposit services, and a half dozen other employees provide Internet banking help for business customers, he says. About a dozen CTS operations and services employees create and maintain customer records in the company’s mainframe computer system, and six more employees enter paper deposit and loan records into a document imaging system.

“We give out more 40-year employee pins here than anywhere I’ve ever seen.” — Russell L. Goldammer, CEO and president, CTS Why center most of this activity for a fourstate banking network in mid-Missouri? Goldammer points to the company’s origins in Jefferson City. CTS enjoys a loyal workforce because of that history, he says, a group of employees willing to stay with the company for years longer than is common elsewhere.

“We give out more 40-year employee pins here than anywhere I’ve ever seen,” he says.

Jack Henry & Associates Inc. Jack Henry provides computer systems and complementary products and services for 2,100 bank and credit union clients throughout the United States. The Monett, Mo.-based company primarily serves small and mid-sized institutions, including Hawthorn Bank and the Missouri Credit Union in Columbia.

About 1,150 of Jack Henry’s 5,250 employees — or more than 20 percent — work out of the company’s 134-acre corporate headquarters to provide back-office support. Jack Henry’s business analysts and software developers are based at the southern Missouri office, where they develop and maintain the accounting software that banks need to perform everyday tasks such as posting transactions or creating monthly statements, says Wormington, the company’s president.

The Missouri back office houses installation programmers as well who will go to a client bank’s site to install the company’s accounting software.

Jack Henry’s customer service department also provides nationwide service out of the company’s back-office headquarters and resolves client problems remotely, Wormington says.

“They all are doing business nationwide,” he adds.

Although Jack Henry has more than 50 offices throughout the country, Wormington, who describes himself as “employee No. 6” of the company launched by Jack Henry and Jerry Hall 38 years ago, says the company’s headquarters is in its present location because its founders were from the area and didn’t want to move. Employees benefit from Monett’s relatively low cost of living, Wormington says, as well as its small-town atmosphere.

“The state of Missouri is home,” Wormington says.

Commerce Bank Columbia houses several back-office teams for Commerce Bank, a $22.5 billion company with more than 200 branches in Missouri, Illinois, Kansas, Oklahoma and Colorado. Twenty-four fulltime and three part-time employees provide these back-office services for banks throughout the Commerce network, according to the bank’s public relations representatives.

Among the back-office services based in Columbia are those provided by Commerce’s branch support team, which helps bankers with questions on everything from procedure to retail products. Company representatives estimate this team answered approximately 75,000 questions in 2013.

Another team works on new account compliance requirements and fraud review tasks along with other online banking service jobs. Commerce’s risk mitigation team coordinates several review tasks, including reviews for checks that have been flagged for possible fraud and online bill pay fraud. Other Columbia-based back-office employees include a two-person technical writing team, which produces and updates policy, procedure and training documents while maintaining online training courses for bankers and an intranet resource website, Commerce representatives say.

Locating these services in Columbia was a common-sense decision, Commerce Bank Executive Vice President and Director of Branch Operations Carol Dickinson says in an email. Commerce employees with back-office expertise already were located in Columbia when the function for the entire company was formally established in 1999.

And Columbia’s central location made travel to the bank’s various markets easier for the back-office teams, she adds.

“Ever since that time, technology has made collaboration very easy with all parts of the company,” Dickinson notes in the email. “While we still travel to the various markets at times, we make good use of communication tools that make our work more of a virtual environment.” CBT

columbiabusinesstimes.com /// 53

bankers

54 \\\ January 2014

To sharpen their management dexterity, three financiers turn to the stream, the sky and the stable.

of

Out Office bankers who

Produced by Jake Klinghammer � Photos by Anthony Jinson Daylight moves in to greet the awaiting sportsmen — a hunter, a fisher, a rider. It’s 20 degrees as the hunter watches an incoming storm and stands knee-deep in water as it freezes around him. The fisher winds back to 2 o’clock, whisks forward past his ear and then breaks at the last minute for his first cast of the day. And the rider, looking up at her new, yet-to-be-saddled friend, remembers her earliest days riding bareback.

Subtle communication is key. If the rider were to shift her weight in the wrong direction, her horse would dig its hooves into the dirt and send her soaring across the fence.

The fisher is an artist wielding a fly rod and reel in such a way that the fish, not the man, sets its own hook in the soft spot of the mouth — a perfect take. No aggression. No impatience.

The rider developed her calm manner in the Stephens College stables and carries it with her to this day. “It’s

about discipline and patience,” she says. “Projecting that calmness develops trust that you’ll make measured and thoughtful decisions.”

The hunter grew up as the son of another, his earliest hunts acting as the gopher, toting decoys and gear through the marshes. He developed a heightened understanding of and respect for the power of his shotgun.

Through photographs and their own words, the sportsmen share their stories.

Hal James President, Missouri Credit Union

“The ducks are going to be coming into the wind, so you want to set up in a way that they’ll be flying into you. The key is to make sure they can’t see any movement. Once you start moving your gun around or try to get your duck call out of your coat, that’s when you’ve lost them. Give them a little chuckle on your call, and they’ll turn toward you, but if they don’t like what they see, they’re not coming. Half the time, though, they just appear from nowhere. That’s when practice comes in. It’s a split second, and, boy, you gotta shoot quick, and you gotta shoot straight.”

56 \\\ January 2014

David Keller President, The Bank of Missouri

“For a fly fisherman, the sport is not to harm the fish or harvest the meat; it’s the art of presenting the fly to the fish in a manner that he believes it is his next meal and then seeing if the fish will take your presentation. The biggest thrill is when a fish with a set of shoulders on it — it’s what we call a bigger fish — takes that lure, and the reel just spins. Zzzzeeeee. It just takes off! Then it’s just a matter of how far the fish is going to run with the fly before he stops, turns or breaks you off before you can begin the fight to land him.”

Teresa Maledy President, Commerce Bank Central Missouri Region

“Accomplished riders remain calm and are able to communicate that calmness to the horse. They are also able to read a horse’s temperament. It takes quite a bit of discipline. It’s allowing yourself to be reflective and really in tune with how you’re feeling and how your horse is doing. If it’s a horse that’s really excitable, you have to be able to calm him down and let him do the work he needs to do. If it’s a horse that’s sluggish, you have to get him energized so he can perform at a higher level. It’s like a coach getting the most out of an athlete.

You pay attention and encourage.” CBT 58 \\\ January 2014

On behalf of Moresource’s staff, congratulations to Brian Cunningham for being in the 20 Under 40 class of 2014!

columbiabusinesstimes.com /// 59

60 \\\ January 2014

Nonprofit Spotlight ›› Rescue Innocence

➜ Email Brent@ RescueInnocence.org for more information

An End to Human Trafficking Raising awareness of human trafficking Human trafficking has the guise of a Third World problem, concentrated only in poverty-stricken countries where freedom is easily compromised, but organizations across the globe are working to show the issue isn’t just prevalent overseas.

Locally, the nonprofit Rescue Innocence, officially operating since May 2012, strives to raise awareness and promote prevention of human trafficking across the country — and right in our backyards.

Brent Messimer, president of Rescue Innocence, first had his eyes opened to the topic while visiting his native South Africa during college. After witnessing people being bought and sold on city streets, he worked with South Africa’s Salvation Army to rescue victims from abuse. He brought what he learned back to the States and vowed to educate others. Messimer formally founded the organization in 2012 and has since worked with other volunteers to “reach out to those who are trapped,” he says.

According to the National Center for Victims of Crime, human trafficking is “the illegal trading of human beings for commercial sexual exploitation or forced labor.” It is estimated that 800,000 people are trafficked each year worldwide, and 50 percent of those trafficked in the United States are children, according to a 2012 U.S. Department

of Justice statistic report. Many traffickers hide behind the veil of prostitution, when traffickers are often seeking out the vulnerable and breaking their will as they integrate them into the exploitative human trade, Messimer says. “When these girls are taken, they don’t just all of a sudden become willful sex slaves,” he says. “They really are beaten, they are starved, and they are raped over and over again. The fight is taken out of them over time to the point where the girl who was taken, her innocence is gone.”

Rescue Innocence is locally based but branches out to wherever the need to raise awareness leads it. The Christian, volunteer-based organization’s goal is to educate society by speaking at camps and conventions, attending retreats and hosting events to raise awareness of trafficking. The process can be small, such as encouraging others to research the topic and use word of mouth to educate, or large, such as safely directing a local trafficking victim to a safe house where he or she can receive fulltime care.

According to Messimer, the strip of Interstate-70 running between St. Louis and Kansas City is a hotspot for trafficking because of the prevalence of strip clubs, truck stops and hotels, which draw traffickers to market the victims for commer-

Barry Richardson "I, like most individuals, had heard about the horrors of human trafficking, but it wasn't until a few years ago that my eyes were opened, and I realized that it happens all across America, even in Columbia."

Brent Messimer “The most impacting moment thus far was the rescue of a girl being sold on the streets; she was the first and showed that freedom is possible!”

By Megan Thomas Davis

cial sex. “The FBI estimates that over 17,000 Americans are trafficked every year,” he says. “And to think that we are not a part of that statistic is wishful thinking.”

In the coming months and years, Messimer says Rescue Innocence plans to establish a safe house for victims where they can safely rebuild their lives and, hopefully, heal. The safe house would be at an undisclosed location and would provide long-term stability for trafficking victims looking for a healthy road to recovery.

Help is always needed, and the more mouths spreading the word the better.

By creating advocates in listeners, Messimer says he hopes Rescue Innocence can instill a passion to help educate and lead those vulnerable to being trafficked to make smart decisions. Those wanting to get involved or to find out more information on donating food, clothing, time and energy or setting up a presentation can visit the organization’s website or visit its office in the Christian Campus House on the University of Missouri campus. But sharing the story of this modern-day slavery is key to being a part of the solution.

“We want to make a huge impact,” Messimer says. “But it is one step at a time.” CBT Photos by Kendra Johnson.

Sammie Richardson "[My proudest moment has been] our new benevolence program, which has provided us with the opportunity to help prevent trafficking by being able to help those that are at risk."

62 \\\ January 2014

Technology

›› Monica Pitts reviews the latest trends in the business

Click to Pay

The business behind online credit card payments In today’s world of Internet transactions, credit is king. But what’s the best way for a new or existing company to go about accepting payments? Consider these popular methods for online credit card payments: 1. Obtain a merchant account, often from a banking institution, and subscribe to a payment gateway service. Some banks offer a payment gateway service; many thirdparty providers are also available.

for businesses that already have a merchant account to accept in-store payments.

For those who don’t have an existing merchant account, applying for the service often involves paperwork and documentation of company financials. Setting up a payment gateway is not an instantaneous process either, so the setup time for this method takes longer.

2. Enroll with an all-in-one paymentprocessing company.

What this means

What this means

Many brick-and-mortar shops already accept credit card payments by pairing a credit cardprocessing machine with a merchant account from their bank. The bank acts as the “acquirer,” confirming funds are available, authorizing transitions and exchanging funds from the bank issuing the credit card. After the payment is given the green light, the funds are transferred into the attached company bank account.

When taking payments online, a payment gateway acts as the credit card machine and securely transfers the information to an Internet merchant account that allows you to accept cards without physically scanning them.

These services, including the very popular PayPal, combine your merchant account and payment gateway all under one roof. These companies process transactions through their own merchant account on behalf of other companies.

Charges

Pros and cons

Merchant accounts and payment gateways may have a variety of fees such as setup fees, monthly service fees, per-item fees or total percentage of the amount charged.

This service is a good option for businesses that will be accepting a small amount of online payments. Although the transaction fees are higher, if volumes are low, businesses can save money on required monthly fees and setup fees. It’s also a good option for those that need to take payments quickly without delay. However, most all-in-one payment-processing companies require payments to be made on their website, which directs visitors away from a business’s website. CBT

Pros and cons This option is great for businesses accepting large volumes or amounts of online payments because the transaction fees are generally less than the alternative all-in-one payment-processing company. It’s also a favored choice

Charges Most all-in-one payment-processing companies don’t charge monthly or setup fees for basic accounts. However, upgraded features are often available for a monthly fee. Payment for services is charged based on transactions, often a per-item and total percentage fee on the amount charged.

Popular Providers PayPal: This all-in-one payment processor started as a way to allow eBay sellers to accept credit card payments. Users may pay with a PayPal account or via credit card.

Authorize.net: More than 300,000 sites use this payment gateway, which offers live tech support and reseller accounts.

Intuit Payment Network: This solution integrates with your QuickBooks, including a link in your invoices that allows for online payments and seamless reconciliation.

Square: A convenient card reader tool is paired with a smartphone app to allow businesses to take credit card payments on the go. Square is an all-in-one payment processor but is currently not ready for integration with your website to receive online payments.

columbiabusinesstimes.com /// 63

HIRE power

Celebrations

›› Flat Branch Home Loans

Closing the Deal

Flat Branch Home Loans is on a meteoric rise to the top.

Jim Yankee. Photo by Anthony Jinson.

Timeline 2005 › Flat Branch opens its doors for business in downtown Columbia.

2007 › Flat Branch opens its first satellite office near Fort Leonard Wood.

2008 › The mortgage industry melts down, beginning with the Lehman Brothers collapse.

2009 › Flat Branch transitions to a full-service mortgage banker, incorporating local, inhouse underwriting and processing.

2011 › Ranked by Inc. Magazine as the 321st fastest-growing private business in the United States 2012 › Becomes No. 1 purchase mortgage lender in Columbia, per government statistics 2013 › Opens 15th Missouri branch office in Joplin 2013 › Ranked by Inc. Magazine as third fastestgrowing business in Missouri 2014 › Flat Branch will open a servicing center to collect payments and service loans locally.

Amidst the 2009 mortgage meltdown, Flat Branch Home Loans expanded its 4-year-old business into a full-service mortgage banker.

Then, like our waistbands at Thanksgiving dinner, the company continued to expand. Due to its rapid growth, Inc. Magazine ranked it No. 3 in the state of Missouri for its incredible addition of employees and awarded the business the 2013 Hire Power Award.

“It’s always good to get awards and recognition, but it really is just a testament to our people and how well we’ve done,” says owner, Jim Yankee. Yankee, who is responsible for the recruitment of new hires, has his work cut out for him. In the past 18 months, Flat Branch Home Loans has gone from 20 people to nearly 90.

“The reason we get these people is because we’re so good at closing loans, because we’re so good at what we do,” Yankee says. “I’m lucky enough to have a great team behind me. When I tell somebody that coming to Flat Branch will help them, their career and their families, we back it up because they’re so awesome.”

The company anchors its name in several cities across the state; it stretches as far west as Springfield and touches the eastern border in St. Louis. In addition, it offers a wide variety of mortgage services. “A lot of people we hire in Columbia are support staff for those outlying offices,” Yankee says, “so it’s been a good thing for Columbia because we’re hiring local people to support other areas of the state.”

Grow into the future Despite the drizzly post-recession outcome for the mortgage industry, Flat Branch has remained strong by focusing all its efforts on the people it serves. The business supplies FHA, USDA and VA loans and works with firsttime buyers and families refinancing their homes. “People always have to have a place to live, and they’re generally going to have a loan

By Kelsey Gillespy on that house,” Yankee says. “So at the end of the day, it doesn’t really matter what happens to the market as long as you’re working hard and doing everything for your customers.”

Homebuyers can apply for a loan online, over the phone or in person at the Flat Branch office on Fifth Street. Within a matter of minutes, customers will be pre-approved for a loan, and the hunt for a new home can begin.

Flat Branch does everything in its power to ensure a pleasant experience finding or refinancing a home, which greatly contributes to its growing staff and spreading reputation.

However, the company will soon see even more growth. A Flat Brach servicing department has been in the works for nearly two years, and in January, Yankee plans to launch it. “We’re going to start servicing our own loans this coming year, so that should be even more jobs going forward to help ongoing service nationwide,” he says. “It’s huge from a customer service standpoint that we can be there for them throughout the 30 years of their loan. It just helps us serve our customers better, and it will help us continue to grow into the future.” CBT

Tip for success “Do the right thing consistently and over a period of time. It’s the only way to grow the right way.”

New Year’s resolution “Our resolution is to get our servicing department up and running and functioning. That’s kind of a boring resolution, but it’s to get the servicing piece put together.

It’s huge from a customer service standpoint that we can be there for them throughout the 30 years of their loan. It just helps us serve our customers better.

It’s a big undertaking though.”

columbiabusinesstimes.com /// 65

Deeds of Trust

›› Worth more than $600,000

Jared W. Reynolds, CFP® Carroll Wilkerson, CFP®

$416,500,000 LSREF2 Tractor REO (direct) LLC Royal Bank of Canada LT 1 PT State Farm Sub Blk 1 $39,000,000 Big Sky Land Co. LLC General Electric Capital Corp.

LT 1 PT White Gate Community $25,000,000 Columbia Properties LLC BMO Harris Bank LT 3 PT FF Broadhead Place

Does your financial advisor offer you a “one size fits all” approach?

FIND A BETTER WAY:

$1,273,976 Dell Jones LLC Boone County National Bank LT 201 Dell Jones Plat 2 $1,200,000 CPD Revocable Trust Landmark Bank LT 106 Crosscreek Center Plat 1

$15,300,000 E. Locust LLC CMFG Life Insurance Co. LT 1 East Locust Plat 1

$1,132,500 Drewing, Grant R. Living Trust Landmark Bank LT 31 Arrowhead Lank Estates

$15,100,000 Columbia Center Affiliates LLC Starwood Mortgage Capital LLC LT 2-A Hilton Plat 3

$1,050,464 Columbia Endoscopy Surgical Properties Landmark Bank LT A Endoscopy Plaza Condominium

$3,100,000 Gates Real Estate LLC Landmark Bank STR 9-47-13 //S Sur BK/PG 2985/175 AC 97.320 $2,115,000 Columbia Retirement Investors LLC Great Southern Bank STR 22-48-13 //NW SUR BK/PG: 1036/89 $2,060,000 Historic Mule Barn LLC Boone County National Bank LT 101 Fay Street Lofts Condominiums

66 \\\ January 2014

$1,321,050 Tompkins Homes & Development Inc. Boone County National Bank STR 9-47-12 //N Sur BK/PG 4235/30 AC 176.14

$15,980,000 G2 Enterprises of Columbia LLC Boone County National Bank LT 1 Begley Subdivision Plat 3

$5,895,000 North Stadium Investments LLC First State Community Bank LT 4 PT Timber Creek Plat 1

573.875.3939 • WRWEALTH.COM

$1,600,000 Uptown Investments Inc. Commerce Bank LT 160B Uptown Subdivision

$940,000 First Tier Investments LLC The Bank of Missouri LT A First Tier Condominiums $877,500 Ray, Henry E. and Daly, Veta E. Mid-Nation Mortgage Corp.

STR 7-49-11 W/ NW/SE Sur BK/ PG: 1217/656 FF Tract 1 $822,000 Hunt, Tyson and Anne Hawthorn Bank LT 41 Country Woods Sub Plat 2 $820,000 CAJ Properties LLLP Boone County National Bank LT 9A Shields Eastern Addition Plat 1-A

1,098

Deeds of trust were issued between Oct. 1 and Dec. 9

$813,500 The Sentry Trust Bank of America STR 15-48-12 //NE Sur BK/PG: 1611/799 AC 21:300 $807,000 Marrs, Alan J. and Mary E. Boone County National Bank STR 12-46-12 /SW/NW Sur Bk/ PG:1496/682 AC 13.560 $667,000 Bostick, Brian P. and Elizabeth M; Romine, Phonda (sic) Hawthorne Bank STR 30-51-11 //SE Sur BK/PG: 3191/48 FF Tract 3 W/ESMT $665,000 Mid-Missouri Real Estate Holdings LLC Boone County National Bank LT 2 Katy Place Heights Subdivision Plat 3 $650,000 St. Andrews Evangelical Lutheran Church of Christ Boone County National Bank STR 14-48-13 SW/NW/SE Sur BK/PG: 817/771 AC 3.61 $626,180 CHIMU Alumni Association The Callaway Bank Lt 59 PT FF Lagrange Place $626,180 CHIMU Alumni Association Mizzou LLC LT 60 PT Lagrange Place $624,000 Alpha Gamma Chapter of Alpha Delta Pi House Corp.

Landmark Bank LT 14 PT Lagrange Place $606,000 Simms, Sam R. and Karen L.; Divincenzo, Frank Landmark Bank STR 10-47-12 //NW SUR BK/PG: 2754/78 AC 10.000 CBT

columbiabusinesstimes.com /// 67

Economic Index ›› It’s all about the numbers Labor: Columbia labor force October 2013: 100,654 October 2012: 99,081 Columbia unemployment October 2013: 3,879 October 2012: 4,377 Columbia unemployment rate October 2013: 3.9 percent October 2012: 4.4 percent Missouri labor force October 2013: 2,997,911 October 2012: 2,999,798 Missouri unemployment October 2013: 169,966 October 2012: 192,312 Missouri unemployment rate October 2013: 5.7 percent October 2012: 6.4 percent

Construction: Residential building permits October 2013: 165 October 2012: 476 Value of residential building permits October 2013: $22,250,534 October 2012: $48,009,529 Detached single-family home permits October 2013: 96 October 2012: 150 Value of detached single-family home permits October 2013: $17,986,460 October 2012: $19,208,332 Commercial building permits October 2013: 26 October 2012: 29

Value of commercial building permits October 2013: $8,310,858 October 2012: $4,866,004

Housing: Single-family home sales, Boone County October 2013: 144 October 2012: 117 Single-family active listings on market, Boone County October 2013: 881 October 2012: 785

20•• 40 20 T W E N T Y UNDER F O R T Y presented by

Single-family homes average sold price, Boone County October 2013: $192,593 October 2012: $180,552 Single-family home median sold price, Boone County October 2013: $162,000 October 2012: $159,900 Single-family homes average days on market, Boone County October 2013: 61 October 2012: 81 Single-family pending listings on market, Boone County October 2013: 138 October 2012: 109

Utilities: Water October 2013: 47,086 October 2012: 46,046 Change #: 1,040 Change %: 2.3 percent Electric October 2013: 47,479 October 2012: 46,347 Change #: 1,132 Change %: 2.4 percent CBT

CELEBRATE IN STYLE WHILE HONORING OUR 2014 CLASS OF 20 UNDER 40!

WHEN: Wednesday, January 22, 2014 6:00 p.m. - Small Plates and mingling 7:30 p.m. - Presentation, live music and fun WHERE: Kimball Ballroom, Stephens College TICKETS: available on www.ColumbiaBusinessTimes.com Purchase a single ticket for $50 Purchase a 10-person table with premium reserved seating and two bottles of wine from Les Bourgeois Vineyards for $500

columbiabusinesstimes.com /// 69

New Business Licenses ›› Columbia residents and their upstarts

Blueridge Automotive 1200 Blue Ridge Road Automotive repair CJH Styles LLC 2902 W. Broadway, Suite 204 Booth retail salon Columbia Discount Furniture 1906 N. Providence Road, Suite C Furniture and bedding Dermistique Face & Body 221 N. Stadium Blvd., Suite 105 Retail products, cosmetic services, manicures, etc.

Dochas Clinical Massage Therapy 1005 Cherry St. Provides clinical massage therapy to clients

Keith’s Garage 504 Big Bear Blvd., Suite A Automotive and repair shop

Gunter Hans 7 Hitt St. European-style café

Miller Auto Supply-Napa Auto 1524 E. Business Loop 70 Retail/wholesale replacement parts

Varsity Nails on South 9th 308 S. Ninth St., Suite 103 Beauty salon

Nicole Parker Agency 600 Cooper Drive N., Suite 107 Insurance agency

Forum Cleaners 1400 Forum Blvd., Suite 5 Dry cleaning, laundry

Platinum Home Care 910 College Ave., Suite 3 Home care services

Import Wholesale Parts 1200 Coats St. Wholesale auto part sales

Riversong SpaOld Hawthorne 6221 E. Broadway Massage therapy

Kamikaze Kustom Tees 2300 Bernadette Drive T-shirt sales Midwest Vapor Lounge 601 W. Business Loop 70, Suite 202 Electronic non-tobacco products Lux Allure Salon LLC 2902 Forum Blvd., Suite 102 Sale and hair-practicing cosmetology CLS Salon 518 E. Broadway Booth in hair salon, performs cosmetology services 70 \\\ January 2014

Laura McMurry, MSW, LCSW 3610 Buttonwood Drive Mental health counseling and clinical social work

RM Auto Repair 701 Big Bear Blvd., Apt. B Automotive repair Saltech It LLC 601 Business Loop 70, Suite 202 IT solutions, business, virtual, telephone The Time Zone 2300 Bernadette Drive Kiosk, retail sales of watches and accessories Cutco 2300 Bernadette Drive Sales of Cutco housewares

Diamond Shine Cleaning 1323 English Drive Cleaning residential, commercial Economy Painting Plus 2601 Rose Drive Painting apartments, some drywall patching and repair Gunther’s All Natural 101 E. Green Meadows Road, Apt. 4 Sales of soaps and natural beauty products J&H Contracting 1314 Hinkson Ave. Construction, remodeling LMN Workshop 101 E. Alhambra Drive Graphic design services Oswald Media Concepts 508 Mikel St. Onsite custom low-voltage electronics, residential Papillon Embroidery LLC 4002 Imperial Court, Apt. A Internet sales embroidery work CBT

By the Numbers ›› Boone County statistics

Columbia Income, By Types Source: 2007-2011 American Community Survey

$59,592

Mean earnings $30,074

Mean Social Security income Mean retirement income

$15,516

40,000 -

20,000 -

Mean supplemental security income $2,712

60,000 -

$7,830

Money makes the world go round, but how does money move in Columbia?

How much are we making, spending and saving — and how does that compare with our neighbors nearby, around the state and across the country?

0-

Mean cash public assistance income

Our financial sector

Source: 2007-2011 American Community Survey

278

347

financial managers

413

bookkeepers, accountants and auditors

other financial specialists

419 =

financial clerks

5.9%

of Columbians work in finance and insurance. That’s 5.4 percent of all men and 6.5 percent of all women.

Who’s making what?

Source: 2007-2011 American Community Survey

Income and Benefits – Total Households 42,388

Less than 10,000

1,185 1,332

$10,000-$14,999 4,970

4,316

$15,000-$24,999 2,788

$25,000-$34,999 $35,000-$49,999

4,618

Howard: $59,584

5,273

$50,000-$74,999

4,544 5,939

Boone: $64,508 Callaway: $60,563

Cooper: $56,200

$75,000-$99,999

7,423

Audrain: $51,208

Moniteau: $55,133

$100,000-$149,999 $150,000-$199,999

Cole: $66,583

$200,000 or more

Columbians who work from home Source: City-data.com

2% 4%

Job growth for small places in the country Source: Forbes

#

17

Cost of living

Cost of business

Source: City-data.com

Source: Forbes

Columbia:

38

88.2 100 U.S.:

#

in cost of doing business

columbiabusinesstimes.com /// 71

6 Questions

➜ 1604 Business Loop 70 W. Columbia, MO • 573-445-3805 accountingplusinc.com

›› Get to know your professionals

So Much More than Taxes Denise Nelson, owner, Accounting Plus Inc.

2. What special services to you offer that no one else does? Accounting Plus focuses on the small-business owner and their needs. Specifically, we are known in and around Columbia for our quality QuickBooks training and consulting services.

We have four QuickBooks Certified Pro Advisers on staff who can help businesses with all facets of the software from setup, to cleanup, to going to the business location to train the owners or employees who will be using it day to day.

Fun Fact: 72 \\\ January 2014

3. How can an accountant help a business navigate the financial landscape?

What’s the benefit? Accounting firms such as Accounting Plus that focus on small businesses are familiar with the unique bookkeeping, payroll and tax challenges and requirements faced by small-business owners. An accounting firm can help keep the business owner abreast of tax deadlines, recordkeeping requirements and payroll laws, just to name a few.

Photo by Anthony Jinson

1. How have you seen companies deal with rising health care costs from a tax standpoint? How are they related?

Small-business owners have historically struggled with providing quality affordable health care insurance to their employees. In the face of rising health insurance premiums, many have opted not to provide insurance at all. With the enactment of the Patient Protection and Affordable Care Act in 2010, small business were incentivized to offer health care to their employees by receiving a sizable tax credit for doing so.

This has helped to defray these rising costs, but it remains to be seen how effective this will be with the full-featured Obamacare plan rolling out in January.

4. What’s the story behind your name? What does the “plus” really mean? What is it that you add beyond the typical accounting experience? Our tagline is, “Leave it all to us at Accounting Plus.”

We take that “all” seriously and try to offer all of the accountingrelated services a small-business owner would need, including bookkeeping, tax preparation, business entity setup, QuickBooks training and consulting and payroll. The recent trend for accounting firms is to drop their payroll product because of the deadline-driven nature of the service. In 2014 Accounting Plus plans to begin offering business insurance products to its clients to add one more service to the “plus.”

5. What is the biggest tax write-off you see businesses miss year after year? The deduction we most often see missed or underutilized is the mileage deduction.

For 2013, each mile driven by a business owner is deductible at $0.565 per mile, which really adds up if one tracks all those miles driven to the bank, to the office supply store, to visit customers and so forth. We offer all of our business clients a free mileage log and educate each of them on how to use it and what types of miles are deductible.

6. How has technology affected the accounting industry? The accounting industry has benefited greatly from technology advances over the past decade, most notably within the tax-preparation industry, where, according to the IRS, more than 80 percent of 2012 tax returns were filed electronically. For tax preparers who use tax software (there aren’t many left that prepare returns by hand), that software helps to ensure both accuracy and thoroughness and allows the returns to be electronically filed with the IRS and the state, thereby speeding up the refund process. CBT

➜ Accounting Plus takes its staff and their families to a Chiefs game each year!

ADVERTISER INDEX Accounting Plus...........................................16, 75 Anthony Jinson Photography.......................64 Boone County National Bank.......................68 Business Showcase.......................................... 22 Caledon Virtual..................................................53 Carpet One......................................................... 60 Central Trust........................................................47 CenturyLink.........................................................73 City Of Columbia Water & Light.....................11 Clapboard Pictures............................................12 Five Guys..............................................................47 GFI Digital..............................................................49 Hawthorn Bank...................................................76 Huber And Associates.....................................62 Inside The Lines..................................................18 Jazzercise.............................................................49 Joe Machens Chrysler, Jeep, Dodge Ram............................................................ 8 Joe Machens Ford................................................3 Joe Machens Volkswagen..............................67 KMIZ...................................................................18,28 Landmark Bank.....................................................2 Mayecreate Web Design................................... 9 Mercedes Benz of Joe Machens..................14 Midwest Computech.......................................28 Missouri Credit Union........................................ 4 Moresource Inc...............................................7,59 Naught Naught Insurance Agency..............73 Plaza Commercial Realty..........................70,71 Redi (Regional Economic Development Inc.)............................................48 Room 38................................................................42 The Bank Of Missouri.......................................26 The Olde Un Theatre.......................................42 Tiger Scholarship Fund.................................. 60 Trulaske College Of Business.......................59 University Club................................................... 10 University Of Missouri Health Care.............. 6 Wilkerson & Reynolds Wealth Management.......................................................66 Wilson's Fitness....................................................5 columbiabusinesstimes.com /// 73

Flashback ›› Then and now

➜ The Columbia business landscape is always evolving, but it’s important to remember our historical roots.

By Sarah Redohl Photo by Tim Nwachukwu

The northeast corner of Broadway and Ninth Street has a long history in the financial sector. Boone National Savings and Loan Association was established at the 901 E. Broadway location on Jan. 1, 1896.

Previously, this location housed Richard Gentry’s tavern. Anne Hawkins Gentry, the second female postmistress in American history, also conducted business here before relocating to Seventh and Broadway.

In the late 1800s, Haden Opera House was built at this location. The original opera house

was a victim of the fire of 1886, which consumed the entire block of Broadway between Ninth and 10th streets, and was rebuilt only to burn again Feb. 7, 1921.

According to The District, “The current Beaux Arts building was built in 1921,” and “the Haden Building cornerstone can still be seen on the front.”

A few fireless decades later, St. Louis-based investment firm Edward Jones purchased Boone National Savings and Loan — still located at 901 E. Broadway — in 1995. Not only were they the

first local brokerage firm to get into the banking business, but they were also “the first to leave the field,” according to the St. Louis Business Journal.

In July of 2006, Boone National Savings and Loan was renamed Columbia Broadway BR and acquired by Commerce Bank. Commerce traces its roots back to Kansas City in 1865. With more than 360 locations throughout Missouri, Kansas, Illinois, Oklahoma and Colorado, the bank’s headquarters remains in Kansas City.

The property’s current appraised value exceeds $1.6 million. CBT

➜ We love Columbia business history. If you have any interesting photos and stories, please send them to Editor@BusinessTimesCompany.com 74 \\\ January 2014

Our TAX TEAM • Fast & Affordable Service • Certified Preparers • Professional Tax Services year round

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Leave it all to us!

573.445.3805 | www.AccountingPlusInc.com VISIT OUR NEW LOCATION! 1604B Business Loop 70W | Columbia, MO Right across from Cosmo Park!

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