Oct. 18, 2013 UBJ

OCTOBER 18, 2013

IN SEARCH OF THE

BIG FISH With wealth-management programs, Upstate banks are competing for high-net-worth clients

UBJ UP FRONT

PALMY Pride

By Mark B. Johnston | president and publisher mjohnston@communityjournals.com

Delighted, but not surprised.

That was the mood in the Community Journals offices when Bill Rogers, the executive director of the South Carolina Press Association, visited last week to drop off our latest batch of PALMY awards.

This year, the Community Journals’ design team won 23 of the awards, which recognize excellence in advertising and product design, and encourage creativity in advertising sales, layout and copywriting.

(See the article in this week’s Greenville Journal for more detail.)

But we’ve always recognized that same excellence in all of our products – from UBJ and the Greenville Journal to At Home and TOWN magazines. In many cases, the ads you see in those pages are designed – in collaboration with the advertiser – by the same extremely talented team that is responsible for the art direction and design of the editorial portions of those publications.

The same thought and effort go into designing an advertisement that go into designing a news or feature story. And the goal is the same: Communicate an idea effectively through a combination of words and images. A good ad tells a story and inspires action, just like a good editorial article should.

None of this happens in a vacuum, and none of it is the result of just one person’s work. The key is collaboration – between the writers, designers, editors, photographers, marketing representatives and local businesses, all adding their voices to shape the overall message. Increasingly, now there is collaboration between all of us and the readers. What do you need to know

Mark B. Johnston

A good ad tells a story and inspires action, just like a good editorial article should. about? We’ll let you know. What do you want to know about? You let us know.

We’re extremely grateful to the SCPA for the public recognition. But it confirms what we’ve known here all along – we’ve got some of the best design talent in the state. We’re very lucky to have Kristy Adair, Michael Allen, Greg Beckner, Whitney Fincannon, Paul Mehaffey and Tammy Smith on our team. Keep leafing through this copy of UBJ, and pick up a few of our other products, and I think you’ll agree.

www.UpstateBusinessJournal.com/subscribe Up-to-date business news in the Upstate, delivered to you in print and on the web.

Let’s take this conversation online. Find us at upstatebusinessjournal.com, facebook.com/The UpstateBusinessJournal, or on Twitter@UpstateBiz.

October 18, 2013 Upstate business journal 3

Volume II, Issue XLII

October 18, 2013

Worth Repeating “You’ve got to know when to stop. You can’t just go wide open.”

Richard Smith, former Clemson student and NFL player, on how his strategy has evolved now that he is CEO of Roding Technology.

“If the physical world looked like the cyber world, no one would leave their home.”

Ashley Yellachich, co-owner of software and Web development company Yellasoft.

“It really matters where you live.”

On PrivateSector Jobs in SC… “At the state level … South Carolina [was] among the best-performing U.S. states last month.”

Ahu Yildirmaz, senior director of the ADP Research Institute, on a report naming South Carolina as one of the top states creating private-sector jobs.

Read the report at bit.ly/adpstudy.

John Richards with the Growler Station loads a bottle into the Growler Station Brand Craft Tap Filling Station. The design of the filling station allows beer into the bottle while forcing out beer destroying oxygen.

TBA Look for the Greenville House of Jerky to open at 36 S. Main St. within weeks …

A new subdivision may be going up soon off Griffin Mill Road.

If it wins approval, the roughly 29-acre development is expected to offer 33 lots. The county planning commission will take up the application on Oct. 23 …

Photo by Greg Beckner/Staff

Harvard researcher Raj Chetty, on a study showing how upward mobility can correlate with location within the U.S.

6

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Crisis Management

UBJ TECH AND DESIGN

With the current upheaval over the recent government shut down and the debt ceiling debate, a lot of people are wondering if they should adjust their portfolios or do something radical like get out of the markets.

Part of investing is riding through the bumps in the road, and if you were pleased with your portfolio allocations in mid-September, you have no reason to be displeased with them in mid-October.

There will always be reactions from traders in the market place, and a sure way to consistently underperform is to chase performance or, worse yet, make your investment decisions from a place of fear.

Photos by Greg Beckner

Asset prices rise and fall. Sometimes markets are affected by global events that are substantive and will result in a structural change in the market place. Think of significant events in housing. Housing has a large effect on the markets because of ties to consumer confidence, builders, suppliers, realtors, financial services and other aspects of the economy.

When housing is rising, the equity markets will have a healthy tailwind pushing them along. Conversely, in falling housing markets, things seem to slow down and look a little less positive.

Pierre Goulette and Jon Richards of The Growler Station

Sometimes we have a non-financial, Washington based crisis. What is happening now certainly affects the markets in the short term.

There are almost a million people temporarily unemployed because of the shutdown.

Growler Gadgetry

Failure to raise the debt ceiling may affect the credit rating of the United States, and that may in turn make our bonds less attractive to foreign investors which would push up interest rates.

The problems sound serious, but at its core, the economy is strong.

Companies are making money. Housing continues to recover. Domestic energy expansion continues. We’ve had these times before, and historically, American markets weather the ineptitude of its political leaders effectively.

Our experience is that calmer heads really do prevail and making prudent, well-thought-out decisions with your money is much more likely to produce long-term positive returns than fearful reaction to short-term news hyperbole.

So if you’re sitting on the edge of your chair worried about the innumerable “what if’s,” you might want to take a look at how your money is invested. We would be happy to sit down and provide a free conversation about your financial plan or your portfolio. Give us a call if we can help.

Christopher A. Brown, CPA, PFS, CFP® has been helping families plan and manage their money since 1995. Give us a call at 864-233-0808 or visit our website at www.falegacy.com.

The Growler Station’s system boasts foam-free and fresher pour

By April A. Morris | staff | amorris@communityjournals.com

Taking a growler filled with a favorite craft brew on the go is becoming a favorite activity of beer lovers, evidenced by the proliferation of places to fill the often 64- or 32ounce vessels. Typically filled from a tap and sealed, experts recommend a growler be consumed within three days (or less) for the best taste.

Offerings at The Growler Station in Greenville include growlers to go.

However, beer buyers can also get one of 24 brews poured through a clear and illuminated growler-filling system called the CrafTap. The Growler Station holds the North American rights to this unique technology, which keeps oxygen from touching the beer and commencing the slippery slope toward spoilage.

“What Star Trek movie did those come out of?”

Jon Richards on what customers say when they see the clear, lighted tubes of the CrafTap growler filling system

6 Upstate business journal October 18, 2013

The growler’s contents will reportedly stay fresh for up to one year.

Jon Richards and Pierre Goulette of The Growler Station demonstrated their six slick-looking CrafTaps made by Pegas for UBJ.

How does the CrafTap work?

JR: It’s a system that pressurizes the bottle with carbon dioxide. Then a two-way valve allows the beer to run down the inside of the bottle, filling it from the bottom and displacing the carbon dioxide. The beer only touches the bottle.

PG: We pressurize the bottle, counter-fill it under the pressure and cap off with foam, much like a bottling plant.

How was the system developed?

PG: The Growler Station has the exclusive North American rights to the Pegas technology developed in Siberia [by Novosibirskprodmash].

Our founding partner Mark da Silva had noticed spillage from the kegs [during growler fills at a pub] and was looking for a way to prevent that.

He learned of a system in Siberia >>

The Growler Station 109 Augusta St., Greenville

UBJ TECH AND DESIGN

growler-station.com Offerings include classes, samples, on-premises service and tables.

>>

and asked the designer to send one.

Sergei, the designer, insisted on cash, so da Silva sent it and –amazingly – received a unit a few days later.

What difference does the system make?

PG: When you take a growler and fill it from a standard wall tap, the pour is oxidized –basically putting a cap on a glass of draft beer. The oxygen is breaking down the carbonated beverage and within a few days, the beverage is going to go flat. The Pegas system gives you a deoxidized pour.

It provides people with an option.

If you have a ball game on Saturday, but you’re out on Tuesday, you can get your growler then. When you open it on Saturday, you’ll have your intended purchase.

How does the oxidation affect the beer’s taste?

JR: Brewers say you should drink a growler within 24 hours of pouring, and there are brewers who won’t sell growlers. People put them in the fridge for a few days, open it and say, “This beer is horrible.” The oxidation gives the beer a papery, leathery, cardboard taste.

PG: Brewers feel that horrible impression comes back on them. We’ve gotten a lot of our brewers excited about this technology.

What kind of feedback have you gotten?

PG: Most people don’t wait very long to open a growler, but [the longer shelf lives] are accidental discoveries … where people have

forgotten about the growler and opened it six days later. When that’s happened, the feedback has been amazing.

JR: We have some people who come in with six growlers, fill them all at once and open them one at a time. When a winter beer came out in August, I brought a growler home and kept it to enjoy three months later.

Fast fact: The CrafTap system is at all The Growler Stations along with the Ohio Taproom in Columbus, Ohio, and Tin Bucket in Portland, Ore. There are self-serve systems at 10 other locations.

How does the system benefit the business?

PG: It reduces the amount of waste spillage from the kegs up to 35 percent. And we get the chance to explain the system. We want to create an environment like a coffee shop where we can help people learn and get excited about beer.

Growth and improvement in every direction.

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Bottom line, with the 2% CMS penalty for 30-day readmissions in place, your hospital can’t afford to ignore post-acute care.

8 Upstate business journal October 18, 2013

Integrated Health Solutions

UBJ TECH AND DESIGN

Former Clemson Student Redefines ‘Homecoming’ CEO Richard Smith brings German company Roding Technology to CU-ICAR

By Jennifer Oladipo| senior business writer | joladipo@communityjournals.com

“Sprakloss.”

It’s the German term for “speechless” and it’s Richard Smith’s way to describe his unexpected evolution from Clemson University student to football star to CEO of a German company that’s just formed a strategic partnership with his alma mater. Even last week as he organized his office and prepared for a welcome reception to celebrate the deal, Smith said it sometimes felt like a dream.

The partnership between CU-ICAR and his company, precision tooling and carbon fiber specialist Roding Technology, is brand new, and U.S. production of Roding vehicles is a couple of years away. But the full story for Smith spans nearly three decades.

Playing Ball

Smith was no average football player while attending Clemson from 1985 to 1989. He won three all-conference championships in football, and one in track, among other honors. He later became a free agent with the Dallas Cowboys, and then was a second-round draft pick for NFL Europe, then known as the World League.

“Football is the reason I’m sitting here now,” Smith said. “God first, then football. It took me around the world.” He sees the Roding position as a blessing, and credits the game for the discipline

he uses in business. But he’s also had to learn that relentless, win-at-all-costs approach to football only goes so far in business.

“You’ve got to know when to stop. You can’t just go wide open,” Smith said. “Even today football is a more finesse sport than it is a real physical sport, because you can’t hit like we used to hit … you also have to finesse yourself around things like that in business.”

Playing His Cards

Roding has worked with companies such as BMW, Siemens and Intel and wanted to expand to the United States. Its executives met Smith as an athlete connected with the kinds of sports and entertainment figures they hoped would buy their cars, and brought him on as a marketing and site selection consultant. Roding named him CEO when he proved his ability to get things moving in South Carolina.

Photo by Greg Beckner

Smith was pleasantly surprised to find a home for his new company in the Upstate. He said the development of CU-ICAR in his time away, which allowed his return, is “too perfect.” But just selling the Southeast to the Germans had been his biggest initial challenge. They didn’t realize just how much the geography of the automotive industry had shifted in the United States.

The first person he called in South Carolina was Vance Hammond, an old Clemson teammate, Spartanburg community leader and brother of Secretary of State Mark Hammond. Mark Hammond liked the idea his younger brother had passed along and helped Smith start down the path that would bring Roding to Greenville.

Playing Boss

“Just strategically planning the next three to four months is filling up my days,” Smith said. That, and getting phone and Internet set up in the office. He and managing director Sonja Robinson will begin adding interns, additional engineers and a mar“The sexy part of the company is keting person “in the next month or so.” the car,” Smith said. The relationSmith said CU-ICAR folks naturally ship between Roding and CU-ICAR would be the first stop as recruitment is all about carbon fiber. The subegins, but the search will be open per-lightweight material is gaining beyond the campus. a foothold in automotive manuSmith is tight-lipped about where facturing. As in other electric veRoding will open a manufacturing facilhicles, the carbon fiber chassis will ity in the next two years, saying only that help compensate for the heavy it will be somewhere in the Southeast. battery in the limited-edition Although he can’t make any promises, Roding Roadster R1, which Roding he’ll no doubt find himself surrounded plans to make in the U.S. by people rooting persistently for the home team.

Getting Technical

October 18, 2013 Upstate business journal 9

UBJ ECONOMICS

Is Geography Destiny?

Study suggests that here you live can make a difference in how far you climb the economic ladder

By April A. Morris | staff | amorris@communityjournals.com

Where you live in the Land of Opportunity may have a lot to do with your economic outcomes, according to a Harvard University study released this summer. Harvard researchers based research for The Equality of Opportunity Project on data gleaned from income data, establishing a correlation between location and the ability of low-income residents to move ahead economically.

The study created rankings for upward mobility between generations and listed the odds of a child

Our Doors and

reaching the top fifth in income from the bottom fifth for 741 U.S. Census commuting zones. The study followed children who were born in 1980 or 1981 and measured their household income in 2010-2011 and compared it with their parents’ between 1996-2000.

Greenville was included on the 100 largest commuting zones list and odds of residents moving from the bottom fifth to the top fifth was 4.9 percent. Bakersfield, Calif., residents had the greatest chance at 12.4 percent and Memphis, Tenn., had

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10 Upstate business journal October 18, 2013

“There are some places that are ‘lands of opportunity,’ if you like, and there are other places that are probably better described as ‘lands of persistent inequality’ within the United States.

So it really matters where you live.”

Harvard researcher Raj Chetty in WBUR interview on The Equality of Opportunity Project economic upward mobility study.

the lowest at 2.6 percent. Greenville ranked seventh-lowest in the list of 100, after Detroit.

The study also measured “absolute upward mobility” or the average economic outcome of a child from a below-median income family in the 25th percentile or lower to above that. Greenville was in the 37.7th percentile. And highest in the nation was Salt Lake City, with 46.4.

In other words, a child who grows up poor in an area with high upward mobility like Seattle has a much greater chance of reaching the middle class than a child who grows up poor in Atlanta or Memphis.

Researchers found a low-upward-mobility “belt” that runs through the Southeast and also through the Midwestern industrial areas.

In addition to income, the researchers examined how factors such as economic and racial segregation, test scores and dropout rates and two-parent versus single-parent households affected upward mobility.

Basic education through a quality K-12 school system was also established as a correlation to upward mobility – however, access to higher education was not, according to the study. Curtis Simon, associate professor of economics at Clemson University, agrees. He adds that exposure to knowledge is a crude measure of economic success: “The broad belief is that access to smart people gives you access to frontier knowledge and you can acquire state-of-the-art knowledge,” he said.

Researchers write that areas with a small middle class have lower rates of mobility, and those with segregation between low- and middle-income individuals also have lower rates.

Race and location also play a part, they wrote. “We find that rates of upward mobility are significantly lower in areas with a larger African-American population, such as the South. But importantly, we find that white individuals living in areas with large African-American populations also have lower rates of upward mobility.”

Two strong upward mobility predictors were “social capital and family structure,” according to the report, where communities with more religious and community involvement and two-parent households have higher upward mobility.

Researchers only established correlations, they maintain, and further research will have to be done to point to the causes of disparities in upward mobility across the nation.

“What is clear from this research is that there is substantial variation in the United States in the prospects for escaping poverty. Understanding the properties of the highest mobility areas – and how we can improve mobility in areas that currently have lower rates of mobility – is an important question for future research that we and other social scientists are exploring,” said the report.

See an interactive national map on upward mobility at equality-of-opportunity.org.

UBJ EMPLOYMENT

FIRST FRIDAY

20 Upstate Companies Named ‘Best Places to Work’ The South Carolina Chamber of Commerce announced this year’s “Best Places to Work” at a banquet Oct. 8 at Embassy Suites in Columbia.

Twenty of those companies are based in or have employees in the Upstate.

The award is “dedicated to identifying and recognizing the state’s most innovative and top-notch employers,” according to the Chamber. Several companies have received the recognition in previous years.

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October 18, 2013 Upstate business journal 11

UBJ Transportation

Inland Port to Begin Operations

The inland port under construction near the intersection of Highways 80 and 290 in Greer.

By Jennifer Oladipo | senior business writer joladipo@communityjournals.com

After weeks of delays

meeting.

The port had originally been expected to open at the beginning of September when it was first announced early this year.

“We’re calling it a soft opening. It’s not something where everything comes online in one day,” said Erin Pabst, SCPA director of communications. Staff members have been working full-time this week, testing IT schedules and performing other preliminary operation-

Photo provided

caused by an unseasonably rainy summer, regular cargo shipments will begin moving through the inland port Monday.

The $2 billion project had lost 80 days to rain when Jack Ellenberg, senior vice president of economic development and projects with the SC Ports Authority (SCPA), gave an update at the Greenville Chamber’s recent transportation and infrastructure committee

al activities. The process of getting up to full operation will be ongoing, and construction is expected to continue through the end of the year, she said.

BMW is the port’s initial customer.

SCPA is marketing it for use by others in the Upstate and port users beyond South Carolina, Pabst said. The inland port is touted as a 225-mile inland extension of operations at the Port of Charleston. Cargo will move by train from Charleston to Greer, giving port users more direct access to markets throughout the South, East and Midwest. As the Port of Charleston undergoes renovations to become just the second in the nation to handle supersized cargo ships in the coming years, the inland port’s importance is expected to increase.

12 Upstate business journal October 18, 2013

Cargo will arrive at the port via overnight rail deliveries, and then will move to trucks that will carry the cargo throughout the region. The Greer port will handle 40,000 40-foot containers each day when it is at full capacity. Officials say the port could be expanded to handle 100,000 containers.

The inland port is expected to remove 25,000 truck trips from I-26.

SCPA and local transportation officials will monitor traffic flows near the plant to assess impacts on local roads and neighborhoods, though SCPA has emphasized that vehicles will be traveling on underutilized roadways. Ellenberg said the effects on traffic along I-85 would be minimal at first and would also continue to be monitored.

UBJ COMMERCE

Report: SC Business Tax Climate Chilly

By Jennifer Oladipo | senior business writer | joladipo@communityjournals.com

A Tax Foundation report last week ranked South Carolina 37th among states for business-friendly tax climate.

Wyoming, South Dakota and Nevada were the top three. California, New Jersey and New York were at the bottom. Most at the top received their high rankings because they lacked at least one of three major taxes: corporate tax, individual income tax or sales tax. Some in the top 10 did levy all three taxes, but at significantly low rates.

South Carolina received higher rankings in some specific areas. The state was No. 10 in corporate tax, No. 22 in sales tax, No. 21 in property tax and No. 30 in unemployment insurance tax. However, it ranked near the bottom

2014 Business Tax Rankings by The Tax Foundation State

Overall Corporate Income Sales Insurance Property

Georgia 32 8 41 12 24 31 North Carolina 28 22 38 21 19 2 South Carolina 37 10 40 22 30 21 Tennessee

15

in individual income tax at No. 40.

Policy changes can make a big difference, and extensive tax reforms in North Carolina will move that state from 44th overall to “as high as 17th as these reforms take effect in coming years.”

The Tax Foundation, a Washington, D.C.-based research group, has compared the tax systems across states for 10 years. The authors noted

14

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that the biggest job relocations are from one state to another, and “even in our global economy, states’ stiffest and most direct competition often comes from other states.”

Its findings are similar to a report released by the Michigan-based Anderson Economic Group (AEG) earlier this year. South Carolina ranked 43rd in that study, putting it among the states with the highest

37

business tax burdens. That report compared the amount of tax businesses paid to their pre-tax operating margin, using different metrics and more categories such as taxes on resource extraction. In our state, 12.8 percent of businesses’ operating margins went to taxes.

The entire detailed studies can be found at taxfoundation.org and andersoneconomicgroup.com.

October 18, 2013 Upstate business journal 13

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2. MOBILE

3. ONLINE www.UpstateBusinessJournal.com

For print subscription and email subscription to the “In Box”.

Stay up to date with the business of the Upstate.

14 Upstate business journal October 18, 2013

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Imagery ©2013 City of Greenville, Google, Map Data ©2013 City of Greenville, Google

Downtown Street Will Close to Pave Way for Federal Courthouse

By Sherry Jackson | staff | sjackson@communityjournals.com

Plans inched forward Monday night for a new federal courthouse after City Council approved an ordinance to abandon North Irvine Street.

While Congress authorized a new federal courthouse in Greenville several years ago, the development made a giant leap forward last year when the U.S. General Services Administration purchased three parcels of land totaling 1.748 acres at East Coffee Street, East North Street and North Irvine Street for a total of $4.07 million to construct the new building. The site is near the current Greenville County Courthouse.

The closing of Irvine Street means that construction can begin after relocation of Greenville Water System lines, which the GSA has agreed to pay for in the ordinance.

“With the securing of the site we now have to wait for Congress to appropriate funds for the court-

house,” said Greenville Mayor Knox White. “While we are high on the list of authorized projects, construction is still several years out.”

City documents say North Irvine Street was a one-way street used primarily for motorists to access the on-street parking spaces on Irvine Street and for a limited amount of cut-through traffic.

The proposed 12-story building will include a circuit library, office space for the U.S. attorney’s office and federal public defender as well as district courts, U.S. Marshals Service and U.S. probation offices.

The existing federal building on East Washington Street will house the 4th Circuit Court of Appeals, U.S. Bankruptcy Court and tenants in existing leased space.

The ordinance states that site preparation for the construction of the courthouse shall begin within three years.

UBJ BANKING

SC Banks Hold Steady, Get Stronger

By Jennifer Oladipo | senior business writer joladipo@communityjournals.com

There hasn’t been much movement among South Carolina banks in the past year, according to the FDIC’s annual Summary of Deposits Report.

But what the numbers don’t capture is a shift that experts say has strengthened banks in the past year.

The report shows bank market share numbers as of June 30. It serves as a snapshot of each bank’s holdings on one day of the year.

Though there was little activity of note, Southern First’s growth in Greenville County stood out. The bank moved from $420 million in deposits and 4.69 percent of the market share in 2012 to $463 million in deposits to claim 5.05 percent of the market in 2013.

Statewide, the state’s largest bank, Wells Fargo, gained 1.43 percent more market share, followed closely by Bank of America, which lost 1.24 percent. Deposits at Bank of Travelers Rest increased to $450 million, 4.91 percent of the market.

Smaller banks such as The Palmet-

to Bank saw slight decreases in market share of around one- to two-tenths of a percent, or less.

Fred Green, president and CEO of the South Carolina Bankers Association, said what the numbers don’t show is that banks have strengthened their portfolios by focusing on accounts closer to home.

“The overall health of the banking industry in South Carolina as of this point in time is much, much better than it was last year, and certainly better than it was in years before that,” Green said.

Banks have focused on in-market customers and let out-of-market CDs mature without seeking to replace them. Instead, they’ve replaced them with core customer deposits.

“I think the composition of those deposits is a better reflection of the deposits held in-state maybe than what you would have seen if you compared it to market share numbers in the past,” said Green.

15 Largest South Carolina Banks 2013 Bank Wells Fargo Bank of America BB&T First Citizens TD Bank Synovus (NBSC) SCB&T First Federal Bank SunTrust Palmetto Bank Regions Conway National Bank CressCom Bank Security Federal Bank Southern First

2013 Deposits

2013 Share

$13.3b 19.43% $9.1b 13.24% $7.4b 10.87% $6.4b 9.33% $3.4b 4.98% $2.6b 3.79% $2.6b 3.85% $2.3b 3.41% $2.0b 2.87% $960m 1.40% $817m 1.19% $783m 1.14% $696m 1.02% $644m 0.94% $634m 0.93%

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October 18, 2013 Upstate business journal 15

UBJ Innovate

By BLAINE CHILDRESS

InnoVision Finalists Provide Innovative Solutions Upstate companies developing a better nail gun, fire-resistant buildings and 3-D printers The InnoVision Technology Awards celebrate the inventive spirit.

The creative minds and determined vision of inventors amaze and inspire others to achieve greatness. Their innovations define our future and enrich our economy.

The 2013 InnoVision Technology Awards provide a remarkable opportunity to witness the inventive spirit. One of the finalists, 3D Systems (3dsystems.com) of Rock Hill, S.C., is competing for a technology application award with a device that will serve inventors all over the world. Their CUBE invention is a tabletop solids “printer” that takes the technology of computerized part manufacture from the exclusive realm of large corporations to the workstations of the individual. If a picture is worth a thousand words, then a 3-D object that one

can hold and test-fit is indeed worth a million words.

While we may imagine an object from its description and image, we cannot really involve all of our senses and truly appreciate the value of an innovation until we can touch it, test it and show it to customers. With the CUBE, the creative minds of artists, inventors and architects can translate their concepts into actual objects that would-be partners and clients can readily understand. Such interaction can place starting entrepreneurs on a more even footing with corporate laboratory inventors.

For those unfamiliar with this new capability, it is indeed a quickly expanding technology. NASA is planning to send a 3-D printer to the International Space Station. This additive manufacturing device delivers precise strands of molten polymer (somewhat like a craft glue gun) to build replacement parts.

Sending replacement parts is costly and takes long time, and storing extra parts is impractical due to limited storage. So, if a part wears or fails on the station or a satellite, the plan is to transmit a computer file describing the item, and have an astronaut build a new part.

16 Upstate business journal October 18, 2013

The InnoVision Awards Program, founded by Deloitte in 1999 and presented by McNair Law Firm P.A., is South Carolina’s premier organization dedicated to the advancement of technology in the state through communication, education and recognition of the spirit of innovation and technological progress. Learn more at innovisionawards.org.

Now such 3-D creations have extended to food. Chefs are designing elaborate desserts from molten sugar while engineers are experimenting with this technology to assemble pizzas in space.

Additive manufacturing technology now embraces many materials and methods, but with the CUBE, this South Carolina global leader has enabled each of us to participate in a creative experience familiar to leading high-tech manufacturers or Space Station residents.

Meanwhile on planet Earth,

Photos Provided

CUBE, a tabletop solids “printer”

About the InnoVision Awards Program

Techtronic Industries in Anderson and Milliken in Spartanburg have recognized that builders and do-ityourselfers still have important needs. Professional carpenters and builders depend on air-powered nail guns to save time and energy. These devices can quickly drive nails in tight places and positions that challenge a hammer and nail.

TTI (ttigroup.com) had a vision in 2008 to invent a cordless nailer that operates from a battery. After all, not everyone has an air compressor. Even those who have one know the hassle of running long hoses up ladders or staircases to an air compressor to make home improvements.

The journey from idea to action has indeed been challenging, but TTI has now developed the Ryobi 320 nail gun. The invention includes a compression piston that builds air pressure until overriding the >>

Ryobi 320 nail gun

UBJ Innovate

>> holding force of a neodymium magnet and then driving a nail. The device uses the same lithium ion power platform as its other ONE+ tools to fire 5/8-inch to 2-inch nails from a spring-loaded clip. The lightweight tool features depth of drive adjustment, firing speed control and LED illumination, all without air hose or cord. TTI is a 2013 finalist in Technology Application.

The inventive spirit is evident at Milliken & Company (milliken. com), which has produced its newest innovation, FireStrong concrete-based building components.

Their technology has been recognized as a finalist in the InnoVision Technology Application category for its unique abilities to repair or modify concrete-based building components.

Milliken combined its deep knowledge in fibers with its recognition of infrastructure rehabilitation needs to define innovative construction products. Concrete composites have been used to repair deteriorating infrastructure in many cities. But

Professional Speak Out

By Anna T. Locke

If your company were a ship, the financial reporting and accounting function is the rudder. Usually the maintenance and reporting of financial statements are carried out by a small data entry division, or completed using “do-it-yourself ” accounting software. The receipts come in, invoices go out, taxes are prepared. The ship keeps sailing in the same direction, the status quo is met—business goes as usual. previous reinforcement techniques have used epoxy adhesives to bond reinforcement to concrete, or used metal components that corrode.

Epoxy compositions could not survive exposure to fire temperatures, so those could not always meet code standards.

The Milliken FireStrong system maintains its strength in high-heat environments (in excess of 250 degrees Fahrenheit). This is accomplished by locating high-temperature carbon fiber bars in shallow grooves and encapsulating these with a cementitious grout. Indeed, a FireStrong application can withstand the heat generated in a fire for greater than two hours for beams, thus enabling lower-cost, code-approved repairs or retrofits to extend the longevity of concrete-based buildings.

We invite you to join us to celebrate the 2013 InnoVision Award finalists. The dinner will be held at the TD Center in Greenville on Thursday evening, Nov. 14. Contact Kathy Ham by email (kham@ mcnair.net) to reserve your seat.

Blaine Childress is a longtime advisory board member of the InnoVision Awards. He is a member of Sealed Air Corporation’s R&D Technology Scouting. Sealed Air Corporation is the sponsor of the Sustainability Award for the InnoVision Awards.

FireStrong concrete-based building components

Instead of cruising at the usual pace, companies that get the right insight from the financial reporting could actually steer toward a more profitable and strategically sound direction.

To accomplish this, businesses are turning to outsourced accounting firms with teams of highly-trained accountants to help companies think outside the box by providing highlevel analysis that provides critical information to propel the business to the next level.

These accounting agencies provide more than just data entry services and periodic financial statements. They dig into the details with their clients to offer insights that tell the story of the business while planning for future goals. Outsourced accounting groups become an extension of your team and cost a fraction of the price to hire a CFO or similar type of internal position.

Note that hiring a total accounting agency is not the same as outsourcing tax preparation to a CPA firm, hiring a full time CFO or adding a bookkeeper – it’s acquiring a team of “do-ers” to look at the whole picture of your company’s current financial health and help you navigate the data so you have the key information you need to move toward your future aspirations and goals.

Think about your rudder. Are you following the same route as usual or is there opportunity to use outsourced accounting to steer you in the direction for growth? Don’t settle for the status quo. There are new voyages on the horizon.

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October 18, 2013 Upstate business journal 17

UBJ guest column

Breaking Out of the Poverty Clusters Better housing leads to better businesses and better communities When I was in high school I

WHO DEFINES THE BEST IN GREENVILLE HOSPITALITY? The UBJ’ upcoming event, Who’s Who recognizes the people in our community who are committed to advancing their fields.

Whether new on the scene or veterans in the trenches, they’re the professional to look out for and look up to. Many have gone uncelebrated. Until now. Also including, but not limited to Accounting, Healthcare, Manufacturing, Political/Government, Design, Finance, Hospitality Legal, Marketing/PR, Non-Profit, Real Estate, Tech/IT.

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18 Upstate business journal October 18, 2013

remember having certain classes where I seemed to not fit in with my classmates. Not because I was a poor student, but because I wasn’t.

For 30-plus years the federal government made a huge mistake that they’ve only recently begun to correct.

I’m referring specifically to programs for affordable housing. Their mistake was to congregate all of the housing in one place, with everyone housed there in similar economic situations.

I call them “poverty clusters.”

In the high school classes I mentioned, I remember doing poorly because I was made fun of if I seemed to be interested in doing well. In “poverty clusters,” this same dynamic exists.

At Homes of Hope, we are very strategic and intentional about developing affordable housing that is mixed in with existing neighborhoods inhabited by families of all income ranges. Neighborhoods already successful, or headed in that direction, because most of the neighbors are interested in being a part of a community.

We employ multiple approaches to execute this strategy, but the main two are this: • Single family homes – market-quality – that are energy-efficient • Rental first, then homeownership We hear distressing stories almost every day, from families who are working, trying to do well, but can only afford to live in “affordable housing apartment complexes.” They face the obstacles of apartment living – like worrying about their children coming home from school having to walk past the “drug guys” or the

bullies. Or maybe their kids don’t do well in school because they can’t sleep at night due to the late-night noise.

And these same families think that their only option beyond apartment living is to somehow qualify for homeownership in order to get a single-family home.

We say, “Let’s house you first in an affordable and energy-efficient single-family rental home, and work with you from there. If you want to be a homeowner, let’s work together and prepare you through stabilizing your budget, building some savings and providing education about the demands of homeownership.”

The result of this strategy doesn’t simply stop at the benefit to the family, either. It also results in the stabilization of the neighborhood that may need some new investment.

Making sure that the rental housing is managed well is crucial, and we’ve found that this results in safer streets and healthier communities. In West Greenville, for example, this strategy has reduced the crime rate by 30 percent.

Who said that all low-income workforce housing has to be apartments? We believe everyone should have a front yard, a backyard and a front porch to proudly sit on and interact with their neighbors, and the opportunity to be good neighbors.

After all, if everyone has a home and is active in being a good neighbor, does it matter whether they pay a mortgage company or a landlord?

Aren’t we all just renters on Earth anyway?

Let me close with a story to illustrate how this benefits our commu>> nity.

By DON OGLESBY

>> Imagine a middle school child living in an apartment that is poorly constructed, or maybe a dilapidated rental house. He’s made fun of at school during the winter months because his clothes smell like kerosene, because the home doesn’t have adequate heat. He falls asleep in class, too, having lost sleep the previous night because of the cold or maybe because it was noisy from the partying down the hall.

Imagine his parents who spend 50 percent of their income for this supposedly affordable housing.

Imagine their frustration at never being able to save because of their housing burden, never being able to move forward with hopes and

The federal government’s mistake was to congregate all of the housing in one place, with everyone housed there in similar economic situations, or “poverty clusters.” dreams.

Now imagine this family paying only 30 percent of its income for both housing and energy, in a market-quality single-family home, in a neighborhood that’s improving. The child doesn’t fall asleep in class anymore, and now he’s inviting his friends home after school to do homework together because he’s

proud of his home. And his parents now have something that they’ve never had before: It’s called “disposable income.” Now they can save up for a better education, or to start that business they always dreamed about, or to have a down payment on a home they can own.

Further, now the businessperson who had considered locating near

the neighborhood before, but decided against it, looks again. Now he sees neighborhood stability, now he sees the area statistics about this magic phrase – disposable income – that drives his decision to locate there.

The community wins. Business is boosted, and a student does better in school. Maybe he goes on to college and stays in the community after graduation and gives back. His parents invest in savings at the local bank, and spend some of their money in the local stores that they never could afford before.

Poverty clusters don’t work. They never will. They’re like those high school classes I attended.

Don Oglesby is the president and CEO of Homes of Hope, a Greenville-based nonprofit organization providing affordable housing for low-income families while also providing job training and mentoring for men overcoming addictions. An ordained minister, he earned his master’s degree in theology in 2000.

Contact him at don@homesofhope.org.

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October 18, 2013 Upstate business journal 19

UBJ Digital Maven

By laura haight

‘Anything Can Be Hacked’ Don’t bash Touch ID – but don’t assume you’re protected, either

PHOTO PROVIDED

The new iPhone’s Touch ID system has been the focus of a lot of tech talk over the past few weeks. First there was the excitement about a higher level of mobile security, and then the deflation when it took less than a week for some hacker to crack into it.

So, Touch ID: good thing or bad? A step in the right direction, according to the Upstate tech pros I spoke to. But the issue of mobile security goes beyond anything technology itself can do to protect you, according to Ashley Yellachich, co-owner of Yella Soft (yellasoft.com), a software and Web development company based in Greenville.

“Anything that is built,” she says, “can be hacked. It just takes the time and the desire to do it.”

Deverne Werne, owner of Mojoe.Net (mojoe.net), agrees: “It is easier to hack now than it has ever been in the history of hacking.”

For Yellachich, whose company is laser-focused on security in its apps and websites, threats are everywhere.

Photo by LAURA HAIGHT

Ashley Yellachich and her husband, Chris Yellachich, co-owners of Yella Soft

“There’s the digital world and the physical world. You need security in both worlds to be stronger.” iPhone users should not be disheartened. Although hacked, Touch ID didn’t make it easy. It takes a perfectly clean and unsmudged fingerprint, digitally scanned into a high-resolution image.

I don’t know about you guys, but that sounds very James Bond to me. Not your average street thief skillset. And the Touch ID system only gives you five chances on the fingerprint before it locks down and requires an unlock code.

A bigger thing in the consumer’s favor is that a thief is going to have to have physical possession of your phone to do all this. So all this scanning and digitizing must be done before you realize your phone has been stolen and initiate the remote lockdown or wiping on icloud.com. The odds are definitely in your favor here – assuming you have turned on the Find My iPhone/iPad feature. Go do that. It’s free.

Touch ID is likely to be just the first of a long line of biometric or behavior-

al response systems designed to secure mobile devices. A bigger concern is the theft of information over the air – snatching your logins, passwords, bank account numbers, security questions and more right out of thin air. Hard?

Hardly. And what makes it easier, both Yellachich and Werne agree, is recalcitrant or uneducated users.

Look down at that device in your hand. You see what you probably call a phone. But what you are really holding is a computer – and a pretty powerful one at that. At home, your network is protected behind a firewall and you probably have learned to maintain the virus software on your computer. But we don’t think about those same protections on our phones.

Part of the problem is that we are ignorant of the dangers and how our behaviors can make us more likely to be victimized. We learned early in life

about not talking to strangers, looking both ways before crossing the street, and staying away from dark and deserted places at night. But there are no such guides in the cyber world where new threats develop every day and security efforts can’t stay apace of new development.

“If the physical world looked like the cyber world,” says Yellachich, “no one would leave their home.”

Amidst all those threats, security functions like Touch ID are important steps, but they alone are not going to be enough.

So what are we to do to be safe from the hackers, crackers, exploiters and thieves who are, it seems, everywhere?

Hang on, because you aren’t going to like this: You have to get smarter and take more responsibility.

“There are no Internet police,” says Werne. How well you behave, how careful you are, that’s all up to you. But so are the consequences.

“There are three levels of security,” Yellachich notes. “Hardware, where the application data lives; software, which is the code; and the user. Good developers work to secure their applications from the outside. The developer can’t do anything to stop a threat from within.”

If any one of those three levels is not secure, it’s bad. If all three aren’t, says Yellachich, “it’s Christmas.”

In the next Maven column: Steps you can take to protect yourself – and your business – from cyberthreats.

Laura Haight is the president of Portfolio (portfoliosc.com), which works with small businesses to incorporate emerging media and technology into its business communications, operations and training.

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October 18, 2013 Upstate business journal 21

u b j p rofi l e Building What’s NEXT

A

Brenda Laakso helps fill the gaps for high-impact companies

By LEIGH SAVAGE | contributor | lsavage@communityjournals.com

Business is dynamic, so our challenge is being able to identify the relevant needs of the entrepreneurs and making sure the ecosystem is dynamic enough to address those needs in real time.

As vice president of entrepreneurship at the Greenville Chamber, Brenda Laakso helps oversee NEXT, an economic development initiative launched in 2006. Designed to fill gaps in what she refers to as the entrepreneurial ecosystem, NEXT had 45 member companies by 2009, and this year is working with 128 businesses across the Upstate, from those in the pre-launch and startup phases to companies that have been operating in established markets for more than a decade.

“NEXT describes the profile of the entrepreneur we support,” Laakso said. “They are driven, and they are always looking for the next opportunity.”

entrepreneurs to identify investors, so two investors agreed to co-lead the creation of the Upstate Carolina Angel Network. We also applied for the license fee from TED so Greenville could launch its own TEDx in 2010.

Describe the role of NEXT in the Upstate business community.

NEXT is an economic development initiative focused on supporting high-impact, knowledge-based companies in the Upstate. By high-impact we mean they have national and international markets, and by knowledge-based, we are referring to companies that own the intellectual property of the product they sell. So from an economic development perspective, they are bringing new money into the region, and we want these companies to grow.

What are some services you provide for member companies?

We support them in three primary ways. First is infrastructure development – that’s where we’ve been busiest. We pull together business and community leaders to fill the gaps in the entrepreneurial support ecosystem – these can be facilities, capital, talent.

We also offer concierge services. We try to meet with each one to find out their immediate needs and determine how to support them – this can be getting exposure for a press release or rolling out the red carpet for top-tier talent. And third is public advocacy, educating the community on the importance of these companies and how they impact the economy, and also advocating for local, state and federal legislation that attracts these companies and incentivizes their growth.

What is your background – did you start out in economic development?

PHOTOS BY Greg Beckner / Staff

Brenda Laakso, Greenville Chamber’s vice president of entrepreneurship

Can you give some examples of projects NEXT spearheaded?

In 2007 we had 20-plus entrepreneurs approach NEXT about having a place to co-locate. NEXT took the lead in connecting them with city economic developers and a commercial real estate developer who would be interested in partnering with NEXT to create this type of facility, and the NEXT Innovation Center opened in 2009. [The 60,000-square-foot office at University Ridge is at full capacity with more than 25 businesses.]

A lot of these companies need early-stage capital, and we needed a formal vehicle to make it easy for

22 Upstate business journal October 18, 2013

I enrolled in nuclear engineering at Kansas State University. I had read about a graduate in nuclear engineering who had 11 job offers, and I wanted 11 job offers. After two and a half years, I heard the career paths were working for a power plant or going into research, where you can spend your entire career never finishing the project you are working on. That statement was the killer.

So I went into technical communications and wrote operating instructions for power plants. I ended up working with NCR Corp., starting teambased organizations in manufacturing plants, and that brought me to the Upstate when I started working at an NCR manufacturing plant in Liberty.

When did you begin working with the Chamber?

When NCR closed their Liberty plant in 1995, I became a small-business consultant doing teambased training. In 2003 I joined the Chamber as vice president for small business, and I was executive director at InnoVenture, the first venture capital conference in South Carolina. I was also helping [Chamber Executive Vice President] John Moore build the initiative called NEXT, and by 2010 I was able to work full time on NEXT. >>

Greenville Office Supply Celebrates 45 years

The Basics: BRENDA LAAKSO SCHOOL Kansas State University, bachelor’s degree, general physical sciences pets Two dogs, one indoor cat, four “adopted” strays, one gecko RECENT BOOK Work by philosopher and poet Mark Nepo

Hundreds gathered at GOS in Greer last week to help the office supply company celebrate its 45th anniversary.

The event featured food and giveaways of office supplies from GOS vendors.

Hobbies Gardening, hiking, sea kayaking TOP KAYAKING SPOTS Tybee Island, Edisto Favorite spot in the Greenville Falls Park. “Even before it was developed, my husband and I would pack coffee and muffins and walk to the falls for breakfast.”

Photos provided

>> What projects are next

for NEXT? What are the most pressing needs?

There is the need for more facilities, and there have been several meetings and conversations about it.

I’m sure the desire would be to have the locations downtown. Another need is talent. We’ve created a job board that allows entrepreneurs to post full- and part-time jobs and internships, and we market that regionally. We’re hoping to launch a

mentoring program created by MIT 13 years ago called Venture Mentoring Service. We’re in the planning and fundraising stage. And then NEXT High School is raising capital to launch with ninth grade in fall 2015.

Business is dynamic, so our challenge is being able to identify the relevant needs of the entrepreneurs and making sure the ecosystem is dynamic enough to address those needs in real time.

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October 18, 2013 Upstate business journal 23

cover story

The Wealth Management

Boom

As affluent baby boomers near retirement, Upstate banks are competing to manage their financial affairs

B

By DICK HUGHES | contributor | dhughes@communityjournals.com

“The Greatest Generation is passing away, and the baby boomers are inheriting the wealth the Depression era saved, so there is a tremendous transfer of wealth in this country.”

Banks are rushing to help affluent baby boomers

“A tremendous transfer of wealth”

Though there are shades of differences, wealth management typically includes private banking, trust administration, financial and estate planning and portfolio management, as well as smoothing access to conventional banking.

William Coker, senior vice president of SCBT wealth management in the Upstate

“The Greatest Generation is passing away, and the baby boomers are inheriting the wealth the Depression era saved, so there is a tremendous transfer of wealth in this country,” said William Coker, senior vice president of SCBT wealth management in the Upstate. “That, combined with how Americans save for retirement, creates significant need for financial advice.”

Coker was one of four wealth specialists interviewed for this story. The others were Bob Hogan,

executive vice president of CertusBank Wealth; Carol Yochem, senior vice president of TD Wealth in Greenville; and Donna Murray, also a senior SCBT vice president.

The shift from defined pension benefits over which individuals had little or no discretionary control came with the advent of 401(k)s in 1978, putting the “onus on individuals to manage their own financial affairs.” said Yochem. “The question is whether people are prepared to do that. Some are, some aren’t.” >>

As assets increase. percentages of equities, and fixed income increase Source for Charts: PriceMetrix Insights, May 2013

50% –

Percent of Assets

make their self-directed retirement accounts and inheritances last into old age with enough left to leave legacies of their own.

Like banks across the country, those in the Upstate are adding or expanding existing wealth-management teams to compete for the business of these high-net-worth boomers who are at or nearing retirement age.

The payoff for banks is an expanding source of fee income and deeper relationships with individuals with investable assets from the high six figures to millions.

They are a small but relatively well-off segment of the 78 million Americans born between 1946 and 1964 who experienced a shift from defined benefit pensions to self-directed 401(k)s at a time of longer life expectancy.

More discretionary control with inherent reward-risk potential, losses incurred in the Great Recession, uncertainty about Social Security’s future, changes in tax code and an expected inheritance windfall are adding to the need for financial guidance and management, bankers say.

40% – 30% – 20% – 10% – 0% –

24 Upstate business journal October 18, 2013

Equities

Mutual Funds

– $250K to <$500K in assets

Fixed Income

– $500K to <$1M in assets

Cash and Cash Equivalents

Other

– $1M to <$2M in assets

– $2M+ in assets

Revenue on assets (fee accounts) and $2 Million+ Households 10 – 8– Median Number of $2M+ Households

Baby boomers nationwise

– 40

Life expectancy (2010) in South Carolina

4–

Annual Revenue from $2M+ Households per Advisor

– 20

2–

< 25

25 to <50

50 to<75

75 to <100

100 to <125

125 to <150

150+

0

Revenue on Fee-Based Assets (Fee RoA), $2M+ Households (bps) – Median number of $2M+ Households

>>

“That’s where professionals in our line of business can come into play, where we can work with people who may have simple questions or their situation is more complex. We really cover the waterfront.”

A question of trust

TD, Certus and SCBT typify the priority banks are putting into building their wealth-management businesses.

It is a potentially rich trove to mine, and regional bankers are confident they can compete successfully against the global giants with equal resources and

Who Are These Generational Groups?

Baby Boomers – Boomers came into the world in the high-birthrate years after World War II from 1946 to 1964. The first boomers reached 65 in 2011; the last will hit that age in 2029.

Generation X – Demographers have different starting dates, but generally agree Gen Xers were born in the early 1960s through early 1980s.

Generation Y – Sometimes called millennials or, because their rate of birth rivals that of baby boomers, echo boomers. Born from 1983 to around 2000.

Today’s 10-year-old has yet to be placed in generational pigeonhole, but be sure there are people out there dreaming up a name.

– Median annual revenue from $2M+ Households ($000)

with the embedded trust that comes from close contact and tailored services.

“It’s not something you get from an 800 number,” said SCBT’s Murray.

And, said Hogan of Certus, it’s a myth that large players such as Goldman Sachs have the business locked up.

“The largest wealth-management firm (UBS) has around 2 percent of the market. That’s all, and the top 10 is around 12 percent. Why haven’t the big firms cornered the market in wealth management, and why are there so many successful small organizations?

It really comes down to trust.”

While other banks were cutting back, SCBT, which was profitable throughout the economic collapse and has been on an acquisition tear since, opened an Upstate wealth management office in Spartanburg in late 2009, its first office of any kind in that city.

It filled the full-service branch hole in Spartanburg in acquiring failed BankMeridan, and it added to its Greenville and Upstate branches with acquisition of Peoples Bancorporation of Easley.

As part of the acquisition of Savannah Bancorp, it picked up Minis & Co., an investment firm that has been in business since the 1930s.

From a start of five wealth managers in 2009, SCBT today has 11 working in the Upstate with an office in Greenville as well as Spartanburg.

Diversifying the revenue stream

Even before the Certus holding company acquired its first bank, CommunitySouth of Easley in January 2011, it had begun building its wealth-management business.

Hogan said the group that established Certus recognized that product lines beyond conventional retail and commercial banking were necessary

78-80 MILLION

– 60 Median

6–

0–

POPULATION TRENDS

– 80

“Why haven’t the big firms cornered the market in wealth management, and why are there so many successful small organizations?

It really comes down to trust.”

Bob Hogan, executive vice president of CertusBank Wealth

“to have a diversified revenue stream where non-interest or fee income becomes just as significant to the organization overall.”

In short order, Certus set up a wealth-management division with 35 registered advisers, formed alliances with several independent certified advisers, acquired broker-dealer and insurance firms and, in the last piece, invested in Monarch Business and Wealth Management with offices in New York, Los Angeles, Atlanta and Miami.

Monarch puts Certus in the mix of a prominent firm serving the very rich from the sports and entertainment world, as well as wealthy families. Clients include Justin Timberlake and Anna Kournikova. Barry Klarberg, who owns three professional sports franchises and is part owner of the New York Yankees, founded Monarch. “We’ve created the structure so now we can go and have clients and deliver anything the big players can deliver and more, and we did it in record time,” said Hogan.

High value for high-worth clients

While TD’s parent, Toronto-Dominion Bank, has had a successful wealth WEALTH continued on page 26

76.8 42ND

Where S.C. ranks among states in life expectancy

PERCENT OF U.S. POPULATION 65-95

2000 2010 2030 12.4 13.0 19.7

PERCENT OF S.C. POPULATION 65+

2000 2010 2030 12.1 13.6 22.0

AVERAGE LIFE EXPECTANCY IN U.S.

1980 2010 72.6 78.6

2020 79.8

2030 81.2

401(K) AND WEALTH DISTRIBUTION 50 million

Americans with 401(k)s

$60,000

Average 401(k) balance

$25,000

401(k) balance for one-third of all workers

$450,000

Median balance in 401(k)s and IRAs for earners with annual income of $151,000+

50 percent

Of value of all financial assets in U.S. held by baby boomers

67 percent

Of all assets held by 10 percent of boomers

33 percent

Of all assets held by 1 percent of boomers

$2.4 trillion

Already inherited by boomers

$6 trillion

Additional amount of anticipated inheritance Sources: Center for Retirement Research, Boston College; Congressional Budget Office, U.S. Census, S.C. Budget and Control Board, Data 360, World Life Expectancy Institute.

October 18, 2013 Upstate business journal 25

‘Leading With Advice, Not Product’

Certus Wealth’s leaders aim to avoid the “silo mentality”

By DICK HUGHES | contributor | dhughes@communityjournals.com At Charles M. Williams’ going-away party from Solomon Brothers to join NationsBank, Robert Hogan, who had joined the New York firm about the same time in the early 1990s, approached him.

“I came up to him and said, ‘I’ll see you in a week, because they just recruited me too.’”

Hogan and Williams had been induced to come to Charlotte to help NationsBank, which later became Bank of America, build out an investment bank. They did well.

Hogan became chief operations manager for BOA Securities, Williams chairman and president of BOA’s overseas and financial corporations.

After nearly 10 years at BOA, Hogan left in 2005 to create a wealth-management division for Capital Bank Corp., a business that reached “about $1.5 billion in assets under management.”

Meanwhile, Williams left BOA in 2008 to form, with other former colleagues, Blue Ridge Holdings (now CertusHoldings) to create a new bank out of the debris of the economic collapse. They raised $500 million to build what became CertusBank.

CertusBank now has full-service banks in the Upstate, Georgia and northern Florida. It has assets of $2 billion with ambition to grow much larger as a regional Southeastern bank.

Even before Certus had a single teller, Williams, Certus’ co-CEO, asked Hogan in 2010 “to come on board” to build a wealth-management division for Certus from scratch.

“We put down a platform in record-breaking time, faster than what I had done in my last life at Capital Bank Corp., and even more robust,” said Hogan in an interview.

“Now we are starting to see that grow, and it is growing rapidly.”

With the advantage of starting fresh and knowing the weaknesses of large and cumbersome institutions, Certus Wealth set out to attract a wide range of clients – from the ultra rich to the just plain wealthy boomer and from the mid-income, midlife family to the early-career

27-year-old.

By bringing younger people into its wealth-management orbit, Certus will be in a position to have their business when they are older, have more wealth and are in need of deeper money management services, Hogan said.

As a fundamental underpinning, Hogan said, Certus is structured to avoid the silo mentality of large banks, where “they go after the client with one sole purpose, and that is to sell their product. Their second purpose is to provide great service,” Hogan said.

Taking a “product-agnostic” approach, he said, Certus Wealth will “deliver anyone’s product. We can deliver our product, but we can deliver Fidelity’s. We can deliver all of them, and we can deliver at the same price point as the big players.”

“What we have done is not put sales forces in the various product areas. We just put product experts in these spots.”

By removing incentive to steer clients to Certus products, “you create an opportunity to be the trusted adviser,” Hogan said. “Here is the special sauce: It comes down to not creating conflicts.”

Certus also has a range of entry levels of investable assets to qualify for wealth management. At the low end is no minimum for, say, the 27-year-old.

For more traditional wealth management for, say, a boomer at or nearing retirement, the minimum is $100,000 “to attract the person turned away” from institutions that want customers with far more in assets.

For a person with around $5 million, Certus bought an interest in Monarch Business and Wealth Management, a national firm founded by Barry Klarberg to manage financial affairs of the ultra rich, most notably sports and entertainment superstars.

“This is where you want to operate as somebody’s personal CFO. You want to instruct them on estate planning, on taxes, business decisions. You want to handle their bill-pay. You want to do all these services for them, leading with advice, not product.”

26 Upstate business journal October 18, 2013

WILLIAM COKER, senior vice president of SCBT wealth management in the Upstate

BOB HOGAN, executive vice president of CertusBank Wealth

DONNA MURRAY, senior SCBT vice president

CAROL YOCHEM, senior vice president of TD Wealth in Greenville

WEALTH continued from page 25

management business in Canada for 80 years, Yochem said, it is “a fairly young business” for TD in the United States.

From its first acquisition of a large Maine bank eight years ago, today it has 1,300 branches from Maine to Florida. That includes those Carolina First Banks in the Carolinas and Mercantile Banks in Florida acquired in takeover of The South Financial Group three years ago.

Yochem arrived in Greenville four months ago as TD’s regional wealth director from First Citizens Bank in Raleigh, where she directed its wealth management. She has 22 people spread throughout the two states. Eight are based in Greenville.

“The value we bring out of this office is really with the high-worth individuals and also institutions that have money management needs, institutions like private foundations, endowments and on nonprofits,” Yochem said.

“It’s not something you get from an 800 number.”

Donna Murray, senior vice president at SCBT

Yochem said TD’s size and its high financial ratings “means you can bring tremendous resources to bear” in serving wealthy customers.

Another plus, she said, was TD’s recent acquisition of Epoch Investment Partners, a New York investment firm with nearly $35 billion in assets under management.

As with other institutions, TD limits wealth management to customers with a high threshold of investable assets. In TD’s case, the minimum is $750,000. At SCBT, it is $1 million. But, said Murray, “We’re not really sticklers about the million dollars.”

Coker said because SCBT brings “significant resources to each of the client relationships we handle” it limits the number so it can “give each client the attention they expect.”

Artist’s rendering of the Aloft Hotel planned for downtown Greenville.

UBJ Square Feet

Rendering courtesy of 4240 Architecture Inc.

Plans Approved for Aloft Construction of boutique hotel in ONE development to start in early 2014

By Sherry Jackson | staff | sjackson@communityjournals.com

Plans are moving forward for the trendy “lifestyle boutique” Aloft Hotel in downtown Greenville after the project won approval from the city’s Design Review Board.

The seven-story, 144-room hotel will be built by Georgia developer McKibbon Hotel Group. The hotel will be located above a new five-story city parking deck as part of Hughes Development Corp.’s ambitious $100 million ONE mixeduse development.

“The recent approval by the Design Review Board is yet another milestone in bringing Aloft Hotel to downtown Greenville,” said Wes Townson, vice president of acqui-

sitions for the McKibbon Hotel Group.

The firm that designed the ONE Building, 4240 Architecture, has developed a contemporary plan for the hotel that also incorporates elements from Greenville’s past.

The façade of the hotel’s lower floors reportedly will be stone and brick, honoring the masonry traditions of downtown Greenville’s historic Main Street, while the tower will feature a woven pattern of three tones, connecting the hotel to Greenville’s textile heritage.

The hotel is geared to younger travelers, millennials and Gen Xers, with modern style and décor, de-

DEALMAKERS Coldwell Banker Commercial Caine announced: Pete Brett represented the tenant, Caroline R. Price, MDPA, in leasing a +3,297 SF medical office space at 10 Enterprise Blvd., Suite 107, Greenville, from the landlord, Eastside Medical Center Flagship.

Tim Satterfield and Beau

Gunn represented the seller, Clayton Properties LLC, in the sale of a +20,882 SF industrial building on +8.73 acres at 283 Vintage Drive, Spartanburg, to the purchaser, Cannon & Hamilton Properties LLC. David Sigmon represented the seller, Kelly-Emory Properties LLC, in the purchase of a +5,400 SF

velopers said. Amenities on the hotel roof will include a swimming pool, cabanas, fire pit and dog walk.

A bar called “w xyz,” a feature of Aloft hotels worldwide, will overlook the newly renovated plaza formerly known as Piazza Bergamo.

Construction is scheduled to begin in early 2014, with a mid-2015 opening.

“We are excited to have the city’s support and look forward to working with Hughes Development Corporation to bring this unique development to Greenville’s vibrant downtown,” Townson said.

office/retail building at 612 S. Main St., Greenville, to the purchasers, Frank Cyrill & Jennifer Kendrick.

Mauldin, to the purchaser, Raymond Shane Inman d/b/a GIT Properties LLC.

at 151 Peachwood Center Drive, Spartanburg, for $1.7 million.

Lee Lewis represented the purchaser, SMIG Properties LLC, in the sale of a +2,010 SF office building at 347 S. Pleasantburg Drive, Greenville, from the seller, CVF LLC.

Spencer/Hines Properties, Inc. announced:

Guy Harris represented the seller in selling a former funeral home at 1225 Cross Anchor Highway, Woodruff.

Andy Hayes represented the tenant, KYMCO USA, in purchasing 5 Stan Perkins Road, Spartanburg, for $1.3 million.

Andy Hayes facilitated the sale of a 17,500 SF industrial building at 2790 Fairforest Clevedale Road, Spartanburg.

Ben Hines and Andy Hayes facilitated the sale of the former Piccadilly location

Guy Harris sold 1487 W. O. Ezell Blvd., Spartanburg, for $3,250,000.

Rick Cauthen represented the seller, Renaissance Exchange LLC, in the sale of a +1,750 SF office building at 1220 Renaissance Circle,

Zach Hines leased an 11,000 SF cheering and tumbling facility at 3423 Clemson Blvd., Anderson.

David Strickland and Guy Harris sold a religious facility at 13 & 17 Ark Main St. Spartanburg, for $375,000.

Bobby Hines sold a +/- 18,000 SF building at 110 N. Markley St., Greenville, for $995,000. continued on page 29

NAI Earle Furman Commercial Real Estate

Helping Build Business in Spartanburg

Commercial Real Estate Services, Worldwide.

314 S. Pine Street, Building 100 Spartanburg, SC 29302 864 398 4444 naiearlefurman.com

Brokers Andrew Babb Daniel F. Dunn Kevin Pogue

October 18, 2013 Upstate business journal 27

UBJ The Fine Print

Alternative Fuels Hit the Road The Alternative Fueled Vehicle (AFV) Roadshow, a traveling series of educational seminars, which has already visited 33 cities across the Southeast, will make its first trip to South Carolina in Greenville from 1 to 4 p.m. Oct. 28 at CU-ICAR. The free public tour will showcase vehicles that run on propane, electricity, hydrogen, biofuels and natural gas.

“We are excited to be at ICAR because it’s a global center for automotive research,” said Joy Kramer, founder of the

AVF Roadshow. “ICAR is currently doing research on dynamic charging.

The concept is that an electric vehicle never needs to be stopped or plugged in.”

In addition, there will be two hours of presentations by manufacturers and suppliers of alternative fuels and equipment, such as BlueBird Buses, Roush CleanTech, Palmetto State Buses, Via

CommunityWorks Receives $600,000 from CDFI Fund CommunityWorks Carolina (CWC) recently became one of three organizations in South Carolina to receive $600,000 from the U.S. Department of Treasury’s Community Development Financial Institution (CDFI) Fund. The award will allow CWC to increase its loan fund that provides financing for affordable housing, small-business development and other community initiatives in the Upstate of South Carolina.

The CDFI Fund awarded over $172 million to 191 organizations who serve low-income families and economically distressed communities across the nation.

“We are grateful to receive this award from the CDFI Fund, which has allowed us to expand our programs and services to meet the needs of low-wealth families and communities in the Upstate,” said Deborah McKetty, executive director of CWC. “The families we serve have limited access to traditional financial institu-

tions, so our goal is to create safe opportunities to build savings, credit and assets.”

CWC has assisted more than 636 families and generated over $68 million in local economic development in the community since its beginnings.

In 2011, CommunityWorks Carolina became the Upstate’s first and only certified CDFI. The nonprofit offers a variety of affordable housing, personal financial stability and community economic development programs.

CWC has expanded its programs and services beyond Greenville to other counties in the Upstate.

28 Upstate business journal October 18, 2013

Motors, Hannah Solar Government Services and others.

“Around the Southeast there is a huge interest in alternative fuel vehicles,” said Kramer.

“There is an intense interest in municipalities, including school-bus folks, to make sure that they are doing the right thing by taxpayers and switch to domestic fuels.”

The tour is produced by AdVentures, an organization that produces nonprofit and education events with a social purpose. Register at afvroadshow.com.

Holladay House Publishing Opens This Week Holladay House Publishing, an independent book publishing company based in Manning, is South Carolina’s newest addition to the publishing world.

Owner, Publisher, and Editor-in-Chief Holly Holladay is currently working with local authors to bring the best literature Southern writers have to offer to the public.

According to Holladay, the company seeks to produce a

variety of genres for all ages, but wants to focus on “works with a Southern flair.” In addition, Holladay House Publishing’s goal “is to entertain readers with Southern fiction, as well as educate them on Southern topics.”

The company plans to also publish children’s books, cookbooks and coffee-table books.

For more information, visit holladayhousepublishing.com or call 803-249-0917.

UBJ The Fine Print

National Business Women’s Week Unites Professional Women in Greenville

Spartanburg Accelerator Wraps Up The Upstate’s first shot at a health technology business accelerator came to its official close before a packed audience of community members at the Chapman Cultural Center in Spartanburg last Thursday.

Vheda Health, which developed a mobile personalized care platform for people with Type 2 diabetes, announced a partnership with Midtown Pharmacy of Whitsett, N.C., and said it was implementing a partnership with Palmetto Proactive Care of Spartanburg.

Prime Genomics, developer of a non-intrusive breast cancer-screening device, is currently in talks with the Mayo Clinic about performing clinical trials.

Although ChartSpan, developer of software to organize personal health records, announced $250,000 in funding from angel investors, no dollar amounts for funds needed were given. That differed from “demo days” at the Iron Yard’s previous two accelerator cohorts in Greenville, making the event feel less like an investor pitch and more like a project presentation. The crowd differed as well, including many young people from the Spartanburg area and other community members. The process has been more community-oriented throughout, with some in attendance that night having already seen practice versions of the pitches.

The Business & Professional Women of Greenville (BPW) have partnered with other professional organizations as part of National Business Women’s Week Oct. 20 through 26.

Events include a Parkinson’s walk on Oct. 20, lunch with Miss South Carolina at Twigs on Oct. 22, and a Murder Mystery Dinner at Fitzpatrick’s Irish Pub on Oct. 26.

The events will allow women from all organizations to become acquainted with one another, particularly the organizer of the week, BPW.

Since the organization started last year it has gained 42 paid members and an average of five to six new members a month, said Maria Meinke, president of BPW. “We meet every second Monday of the month for lunch, and we do nighttime events for those who can’t make it to lunch. Our average turnout is somewhere between 15 and 30 people.”

For more information and to register for events, visit bpwgreenville.org/calendar or call Maria Meinke 864-871-3314. All events are open to the public with registration.

DEALMAKERS continued from page 27

NAI Earle Furman announced: Keith Jones represented the landlord of Highland Business Park, Blue Ridge Corporation, in leasing a 1,777 SF office space at 355 Woodruff Road, Suite 105, Greenville, to Professional Financial Service of SC LLC. Jimmy Wright and Ted Lyerly represented the landlord, Realty Income, of 1521 W. Floyd Baker Blvd., Gaffney, in leasing a 10,888 SF retail space to Fire Mountain Restaurants LLC. Scott Jones represented the landlord of 330 Pelham Road, Greenville, in leasing a 4,058 SF office space in Suite 200B to United Community Bank Inc. Tyson Smoak and David Feild represented Human Technologies Inc. in leasing a 2,000 SF office space at 660

Spartan Blvd., Spartanburg, in Westgate Crossing.

David Feild and Tyson Smoak represented Oaktree Medical LLC in leasing a 5,072 SF office space in North Grove Medical Park at 1330 Boiling Springs Road, Spartanburg.

Kevin Pogue and Andrew Babb represented Palmetto Associates in leasing a 4,485 SF office space in the Palmetto Building at 1865 E. Main St., Suite B, Duncan, to Custom Concrete Construction Inc. Jon Good, Earle Furman, and Alexi Papapieris represented US Foods Inc. in selling a 68,000 SF distribution warehouse located at 217 and 219 Commerce Road, Greenville.

John Gray represented Collins Properties Limited in selling a 2,400 SF retail property located at 707 and 709 Wade Hampton Blvd., Greenville.

John Gray and Drew Stamm represented Pottsabilities LLC in purchasing a Dollar General located at 526 Roe Center Court, Travelers Rest.

Towers Rice represented the seller in selling a 9,282 SF office/warehouse located at 722 South Washington Ave., Greenville.

Rustic Escentuals, wholesaler and retailer of specialty crafting supplies for scented home and bath products, recently announced a business expansion which includes an 8,000 SF warehouse addition – bringing the available space over 19,000 SF – and two more full-time employees, for a total of 17. This location, just south of downtown Spartanburg, is the company’s fourth in its 14year history.

October 18, 2013 Upstate business journal 29

UBJ On the Move ELECTED

HIRED

HIRED

Bernie Ellis

David Peebles

Hoyt Bynum Jr.

Elected president of Kiwanis Club of Greenville. Ellis is a litigation attorney in the McNair Law Firm’s Greenville office. With more than 20 years of experience in the state and federal courts in South Carolina, he practices primarily in the areas of business and government litigation.

Recently joined Homes of Hope as resource development director. Peebles is a graduate of Anderson University. His background includes working at Focus on the Family as a donor representative and Upward Sports as a regional representative.

Recently joined Big Brothers Big Sisters of the Upstate as CEO. Bynum was previously president and CEO of the Simpsonville Area Chamber of Commerce, executive director of Henderson County Habitat for Humanity, and CEO of the Children’s Shelter of the Upstate.

HONORED

INDUCTED

PROMOTED

Hasmukh P. “H.P.” Rama

Frank DeAngelo

Phyllis Graydon

Received the Above & Beyond Award at the 2013 Lodging Conference. Rama is the chairman and CEO of JHM Hotels. The award recognizes those who have gone above and beyond business success to make an impact on the world through philanthropic and humanitarian efforts.

Inducted into the Off-Road Motorsports Hall of Fame.

DeAngelo is executive director of Jackson Motorsports Group’s motorsports program.

In addition, he is the first person to be inducted to the ORMHOF in the Special Achievement category.

Named Upstate managing partner at accounting firm Scott and Company LLC. Graydon has more than 25 years of tax experience, and is a member of the American Institute of Certified Public Accountants and the South Carolina Association of Public Accountants.

MOVERS & SHAKERS New hires, promotions and award winners can be featured in On The Move.

Send information & photos to onthemove@upstatebusinessjournal.com.

30 Upstate business journal October 18, 2013

COMMUNICATIONS, PUBLIC RELATIONS, & MARKETING: Ferebee Lane + Co. recently announced two new hires. Andrew Trull joins the team as a public relations strategist and lead of the agency’s newly formed integrated PR practice. Kathryn Davé was hired as a copywriter and member of the creative team. The firm also announced several promotions. Hannah Baggett LaScola transitioned from a senior account manager to the agency’s digital strategist. Haley Winther was promoted to account manager from account coordinator. Ben Adams was promoted to art director after serving two years as a designer in the agency’s creative department.

Jamie Demumbreum was promoted to senior production manager. Janis Leidlein was promoted to office manager, overseeing daily operations and agency infrastructure.

SHiFT recently announced the hiring of Meredith Martin as public relations manager and Will Swett as digital strategist. Martin graduated from the University of South Carolina with a B.A. in journalism and mass communications.

Swett is a Web design graduate of Greenville Technical College.

CONSTRUCTION/ ENGINEERING: Mashburn Construction recently welcomed Kristi Fortner as the office manager/project administrator. Fortner brings six years of construction experience to the company. She is a graduate of Winthrop University with a background in human resources and marketing.

LEGAL: McNair Law Firm P.A. recently welcomed Ryan W. Trail as an associate.

Trail joins McNair from McCall Environmental P.A. He is a member of the Greenville County Bar Association and the South Carolina Bar Association.

FINANCIAL SERVICES: Scott and Company LLC recently named Greg Thompson as partner in the firm. Thompson has more than 20 years of experience in both industry and public accounting.

REAL ESTATE: Coldwell Banker Caine recently welcomed Courtney McNutt as a residential sales agent to its Greenville office. Prior to her real estate career, McNutt worked as membership director for the Commerce Club and has an extensive network and sales experience.

By Nisha Patel, PR strategist, Crawford Strategy

UBJ The Takeaway

‘Become an Employer of Choice’ HR leaders discuss the art of smart talent management EVENT: Godshall Professional Recruiting & Staffing Workshop WHO WAS THERE: A variety of Greenville companies represented by human resources staff TOPIC: Hiring Trends: The Art of Smart Talent Management SPEAKERS: Godshall president Julie Godshall Brown and director of talent assessment resources Mary Wray Connor Valuable, loyal employees are the backbone of any successful company. Human resources professionals often want to know the secret

to hiring the right employees and retaining valuable employees to ensure a perfect match. While there is no magic formula, Godshall Professional Recruiting & Staffing president Julie Godshall Brown and director of talent assessment resources Mary Wray Connor shared their model for success in discovering, understanding and evolving talent with a group of HR professionals.

Hiring and retaining: “There isn’t one size fits all” Getting to know potential employees during the interview is critical to future success. Knowing your employees is the best strategy for hiring and retaining your most valuable workforce, regardless of how many people you employ. Employees are not robots; everyone works differently. If you understand your employees, it will be easier for you to keep them happy.

Godshall Professional Recruiting & Staffing Director of Talent Assessment Resources Mary Wray Connor

Godshall Professional Recruiting & Staffing President Julie Godshall Brown PhotoS provided

Retention and motivation Position your employees in roles that highlight their strengths to maximize results. Understand how they communicate – know their hot and cold buttons to avoid disengagement. It’s important to identify behavioral differences between a manager and an employee.

Development and advancement The most important thing you can do is to discover what “growth” means to each employee. Try to pinpoint individual motivators that lead to greater engagement – the greatest return on investment comes when you first invest in your employees’ happiness.

How to keep your company’s most valuable asset – your employees Leverage the employee-manager relationship. Energize the jobs by giving employees responsibility so they make meaningful contributions to the overall success of the company.

Conduct regular “expectations ex-

changes” with employees to ensure your objectives – and your employees’ – are on the same track.

Unscrambling your people puzzle “People are not your most important asset. The right people are.”

Again, it is important to make sure you have the right people in the right jobs. Find out what their strengths are to find the right fit for them.

What can you do to recruit employees?

Become an employer of choice.

Stay in tune with the public perception of your company, and use it to attract new talent. Make sure the right people are involved in the interview process, and keep the process tight – organized, strategic and onpoint. Expend effort and compensation to hire and retain top performers.

Remember: When it comes to finding and retaining the right people for your company, you need to discover them, understand them and evolve them.

October 18, 2013 Upstate business journal 31

UBJ Planner MONday OCTOBER 21 GCS Roundtable The Office Center at the Point, 33 Market Point Drive, Greenville; 8:309:30 a.m.

Speaker: Salley Ouellette Topic: What Your Body Language Tells About You Information: Call Golden Career Strategies at 864-527-0425 to request an invitation Opportunity Greenville – Fall 2013

Cost: $325-$750, includes dinner

Information: greenvillerotary.org

Register at: greenvillechamber.org or call 864-239-3743

Upstate Air Quality Advisory Committee Meeting

TUESday OCTOBER 22 Entrepreneurial Readiness TD Bank, 129 N. Main St., Anderson; 11:30 a.m.-1 p.m.

Cost: $20 with lunch provided Register at: scwbc.net/ events/upstate Greenville (Downtown) Rotary Meeting

Greenville Chamber of Commerce, 24 Cleveland St., Greenville; 3-7 p.m.

Topic: Quality of Life & Healthcare

Westin Poinsett Hotel, 120 S. Main St., Greenville; noon

Ten at the Top Office (Upstate SC Alliance), 124 Verdae Blvd., Greenville; 2-4 p.m.

Contact: Kirbie Crowe at kcrowe@tenatthetop.org or 864-283-2313 Successful Entrepreneur Lecture Series University Center, 225 South Pleasantburg Drive, Greenville; 6-8 p.m.

Speaker: Kevin Hendricks from ELG Cost: Free, but participants must be registered

IS HIRING

Information: successfulentrepreneurship.com

WEDNEsday OCTOBER 23 October Coffee and Conversation Upstate SC Alliance, 124 Verdae Blvd., Greenville; 8-9 a.m.

Investors only.

Discussions about the Anatomy of a Deal from the Upstate Alliance.

Information: If interested in becoming an investor, call Clay Andrews 864-283-2300.

RSVP at: RSVP@ upstatealliance.com.

Federal Tax Topics for Startup Businesses – Spartanburg Spartanburg Community College, Tyger River Campus, 1875 East Main St., Duncan; 9 a.m.-noon

EXCEPTIONAL SALES PROFESSONALS.

Speaker: Chuck Christie, enrolled IRS agent and owner of Christie Tax & Accounting

Full Time / Part Time

Topic: Federal Taxes and Your New Business

EXCEPTIONAL READERS.

If you meet this standard, we look forward to meeting you.

Email cover letter and resume to

RJOHNSTON@COMMUNITYJOURNALS.COM COMMUNITY JOURNALS IS AN EQUAL OPPORTUNITY EMPLOYER.

startflourishing.com 32 Upstate business journal October 18, 2013

Cost: Free

Contact: Beth Smith at es2@clemson.edu or 864-592-6318

1680 Scuffletown Road, Fountain Inn; 11:30 a.m.-1 p.m.

State Tax Topics for Startup Businesses – Spartanburg

Speaker: John Baker

Spartanburg Community College, Tyger River Campus, 1875 East Main St., Duncan; 1-3 p.m.

RSVP by: Oct. 21 to Yancey Epps at yepps@ fountaininnchamber.org or 864-770-5407

Cost: Free Contact: Beth Smith at es2@clemson.edu or 864-592-6318 Young Professional Toastmasters Commerce Club, 55 Beattie Place, Suite1700, Greenville; 6 p.m.

Cost: $5 to cover meeting space and one drink at the bar Information: yptm. toastmastersclubs.org

THURSday OCTOBER 10 Human Resource Professionals Forum Carolina Springs Country Club-Palmetto,

Got a hot date?

Topic: Goals and Actions of the Greenville Region Workforce Collaborative

Books & Business Cards Appalachian Development Corporation, 3531 Pelham Road, Suite 100, Greenville; 11:30 a.m.-1:30 p.m.

Cost: $10 with dessert Information: scwbc.net/ events/upstate Business After Hours Garden House Bed & Breakfast, 302 South Main St., Simpsonville; 5:30-7:30 p.m.

Information: Open to Simpsonville Chamber of Commerce members Contact: Allison McGarity at amcgarity@ simpsonvillechamber. com

Contribute to our Planner by submitting event information for consideration to events@upstatebusinessjournal.com

UBJ New to the Street 1. Lee & Associates Valuation and Consulting Services, the appraisal service line of real estate firm Lee & Associates, recently opened at 509 Wicked Stick Court in Inman. The new office is headed by Robby Moon, MAI, a 22-year industry veteran in the Greenville/ Spartanburg market.

For more information, call 864-809-3933.

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2. Sky Zone Greenville recently opened at 2465 Laurens Road in Greenville. Sky Zone features all-trampoline, walled playing courts and offers open jump, 3-D Dodgeball, Foam Zone, and SkyRobics fitness classes.

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5. Tish Bishop is an aesthetician and freelance makeup artist serving Greenville and the surrounding areas.

She specializes in bridal and special occasion makeup, but does also work on photo shoots doing more editorial looks.

For more information, call 864-640-3535, visit facebook.com/ beautybytishb or email BeautybyTishB@ gmail.com.

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For more information, call 864-630-4761 or visit amtamembers.com/tonimasters.

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3. Toni Masters, licensed massage therapist, has moved her practice to 315 E. Broad St., Greenville. She is nationally certified in therapeutic massage and bodywork, integrative reflexology, and a member of the American Massage Therapy Association.

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4. Poff Chiropractic & Rehabilitation recently opened at 315 E. Broad St., Greenville. Office hours are: Monday, Wednesday and Thursday, 9 a.m.-1 p.m. and 3-6 pm; and Friday, 9 a.m.â&#x20AC;&#x201C;noon.

For more information, call 864-271-4099 or visit PoffChiropractic.com.

October 18, 2013 Upstate business journal 33

UBJ Snapshot In the middle of the 20th century, J.C. Penney occupied the northeast corner of Main and East Washington streets. The large store, lacking any upperstory architectural detail, was typical of the designs of the mid-century. During its expansion, Penney’s absorbed the Payne’s for Music location and the smaller stores at the southern end of the block. Rey’s Jewelers survived at the block’s northern end with a modern facade and sign. The small wooden structure at the far right of the photograph was used by bus drivers.

An office building now occupies the corner where J.C. Penney once stood. Like many of the large chain stores once located downtown, J.C. Penney moved from downtown to a Greenville shopping mall.

From “Remembering Greenville: Photographs from the Coxe Collection”

by Jeffrey R. Willis.

Historic photo available from the Greenville Historical Society.

PHOTO BY GREG BECKNER / STAFF

SENIOR BUSINESS writer Jennifer Oladipo staff writers Sherry Jackson, Cindy Landrum, April A. Morris PRESIDENT/Publisher Mark B. Johnston mjohnston@communityjournals.com UBJ Associate Publisher Ryan L. Johnston rjohnston@communityjournals.com eXECUTIVE Editor Susan Clary Simmons ssimmons@communityjournals.com MANAGING editor Jerry Salley jsalley@communityjournals.com

contributing writerS Dick Hughes, Jenny Munro, Jeanne Putnam, Leigh Savage

marketing & advertising Sales representatives Lori Burney, Kristi Jennings, Donna Johnston, Annie Langston, Pam Putman Marketing & EVENTS Kate Banner DIGITAL STRATEGIST Emily Price

INTERN Benjamin Jeffers photographer Greg Beckner art & production art director Kristy M. Adair PrODUCTION MANAGER Holly Hardin ADVERTISING DESIGN Michael Allen, Whitney Fincannon

34 Upstate business journal October 18, 2013

Copyright @2013 BY COMMUNITY JOURNALS LLC. All rights reserved. Upstate Business Journal is published weekly by Community Journals LLC. 148 River Street, Suite 120, Greenville, South Carolina, 29601. Upstate Business Journal is a free publication. Annual subscriptions (52 issues) can be purchased for $65. Postmaster: Send address changes to Upstate Business, 148 River St., Ste 120, Greenville, SC 29601. Printed in the USA.

how to contribute Story ideas: ideas@ upstatebusinessjournal.com

Events: events@ upstatebusinessjournal.com

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The Greenville News

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Greenville Water Entercom Radio Worthwhile

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McCallum Sweeney Consulting, Inc.

Hughes Investments, Inc.

Peace Center for the Performing Arts

Fete

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Merge

Fielding & Gally Gallivan Michelin North America ADG Preferred Payroll, Inc.

The Priester Foundation

BMW Manufacturing Company, LLC

Golden Artist Colors

Century Printing & Packaging, Inc.

Coldwell Banker Caine

City of Greenville Special Events Dept.

Sealevel Systems, Inc.

Community Foundation of Greenville Janette W. Wesley & Renato Vicario

Bon Secours St. Francis Health System

NAI Earle Furman, LLC

Haywood Congaree Self Storage

WYFF TV-4

Budweiser of Greenville

Jackson Marketing Group

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