A Byrd Newspapers Publication
Volume 12, No. 2, November 2011
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R E S E N T I N G
2011’
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10 FORTY
Under Billy Robinson
Cate Mansfield
Chad Layman
Jenifer Jackson
Jonah Pence
Jennifer Shirkey
Michael Gochenour
Patrick Keefe
Ryan Waid
Scott Rogers
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BUSINESS JOURNAL Shenandoah Valley
The Shenandoah Valley Business Journal is a monthly publication of Rockingham Publishing Company, Inc., 231 S. Liberty St., Harrisonburg, VA 22801.
Inside This Issue Focus Section: 10 Under 40 ➤ Billy Robinson . . . . . . . . . . . . . . . . . . . . . .Page 3
Harrisonburg, Va.
Contact us By mail: Shenandoah Valley Business Journal P.O. Box 193 Harrisonburg, VA 22803
➤ Cate Mansfield . . . . . . . . . . . . . . . . . . . . . .Page 4 ➤ Chad Layman . . . . . . . . . . . . . . . . . . . . . . .Page 5
Editorial Staff
➤ Jenifer Jackson . . . . . . . . . . . . . . . . . . . . .Page 5
Editor and General Manager: Peter S. Yates
➤ Johah Pence . . . . . . . . . . . . . . . . . . . . . . . .Page 6
Managing Editor: Alicia Wotring Sisk
➤ Patrick Keefe . . . . . . . . . . . . . . . . . . . . . . .Page 8
Staff writers: Cat Elsby Camden Layell
➤ Scott Rogers . . . . . . . . . . . . . . . . . . . . . . .Page 10
➤ Jennifer Shirkey . . . . . . . . . . . . . . . . . . . .Page 7 ➤ Mike Gochenour . . . . . . . . . . . . . . . . . . . . .Page 7 ➤ Ryan Waid . . . . . . . . . . . . . . . . . . . . . . . . .Page 9
Columns ➤ Leadership by Jeff Haden . . . . . . . . . . . .Page 11 ➤ News To Me by Philip B. DuBose . . . . . .Page 13 ➤ Investments by Beth Nelson . . . . . . . . . .Page 15
By e-mail: svbjnews@dnronline.com By fax: 433-9112 By phone: 574-6267 (news) 574-6229 (ads) On The Cover: Congratulations to the Shenandoah Valley Business Journal’s 10 under 40 for 2011.
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10 FORTY Under The Shenandoah Valley Business Journal is pleased to
Billy Robinson, 30
present our inaugural 10 under 40 issue. During September, we asked members of the community to nominate the young movers and shakers in our area who have excelled in their fields. What a response! It was a tough task narrowing our list down to 10. The Valley is blessed with so many young, talented and dedicated people serving in all different industries. And if you don’t see your candidate on the list, we encourage you to nominate them again next year. Congratulations to this year’s winners! Here they are, in no particular order:
Making a name for yourself and your company can be a challenge, but 30-year-old Billy Robinson has done just that. A senior associate for Brown, Edwards & Company LLP in Harrisonburg, Robinson provides accounting and tax services for individuals, agricultural producers, construction companies and others. “Basically, I do assurance services, where I provide audits, reviews and consulting for my clients,” says Robinson. One of the things Robinson is particularly known for within the firm is his marketing initiatives. “Billy moved up to our Harrisonburg office from Roanoke in
the summer of 2010, and has been active in community organizations [and] marketing our firm ever since," says Jeff Smith, a partner at Brown Edwards. One such organization is Harrisonburg Downtown Renaissance, which Robinson became treasure of in July of this year. “We work with potential new businesses for the downtown area,” says Robinson, “and really just try to promote the strength and economical development of downtown.” Experienced in providing accounting services for contractors, he also serves through his memberships in the Shenandoah Valley Subcontractors Association, Associated General Contractors of Virginia, and the Shenandoah Valley Builders Association. “Part of my marketing has been serving in these organizations and getting involved in the local community trying to promote our firm, especially since Brown, Edwards & Company was not in existence in Harrisonburg until November 2008,” says Robinson. “We’re just trying to make our name familiar to people in the Harrisonburg area and
I think we’ve picked up a number of clients from my participation in those events.” For the past two years, Robinson has been recognized as one of Virginia’s “Super CPAs” in Virginia Business Magazine. Every year, about 450 members of the Virginia Society of Public Accountants nominate roughly 1,000 CPAs, who are then reviewed and selected by the publication. Robinson received the title in 2011 under the category of Young CPAs Under 35 and in 2010 for the category of Government and Nonprofits. “One of the things that really stands out about Billy is that he’s really gung ho for the firm and for the clients,” says Smith. “He really places a priority on client service, which is really important for a personal service business like accounting.” That devotion to client satisfaction is “my No. 1 priority,” says Robinson. “It’s the reason I love my job, interacting with my clients and providing them valuable assistance to help their business model grow.” — Camden Layell
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Cate Mansfield, 34 The Shenandoah Valley Spay and Neuter Clinic has performed more than 83,000 surgeries on cats and dogs, and it’s all due to one woman, her co-workers say. Cate Mansfield, 34, is the executive director of the high volume, low cost clinic, which she helped establish in 2005. “My role is essentially to make sure that the clinic is fulfilling our mission to end the euthanasia of healthy, treatable cats and dogs,” Mansfield said. Mansfield graduated in 2000 from the University of Virginia with a degree in government, concentrating in American politics. Her initial intentions were to get into law, but she came to realize her heart just wasn’t in it. “Law was where my internships were and where my focus was,” she said, “but after doing some soul searching, I realized I had a passion for animals.”
Mansfield started doing some research and was alarmed by the number of cats and dogs euthanized each year. “I knew there had to be a better way,” she said. “I realized that this was a direction I wanted to go.” She then went to Tufts University and graduated with a degree in animal welfare in 2004. She came to realize that a nonprofit spay and neuter clinic was “needed in our area because there were so many animals and the shelters were all at capacity,” she said. The clinic has become a success, supporters say. “Most nonprofits fold within five years of opening,” says Corena Huffman, who works with Mansfield, “but Cate’s has flourished.” Her clinic was nationally recognized by the Humane Alliance, a clin-
ic in Asheville, N.C., as “one of the most successful in the country,” said Mansfield. Much of that success is due to the unique services Mansfield offers, such as free surgeries for pit bulls or for pets of college students. Mansfield also implemented the pet food pantry at the clinic for low-income clients or people in the community who need assistance. “I heard about it from another organization and it just made sense,” she said. “It has been used by a lot of people in our community to get them through hard times.” And she’s happy that her clinic has made a difference. “At the end of the day,” she said, “the animals at our clinic are going to have a better life.” — Camden Layell
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Chad Layman, 38 Imagine 12,000 trees, 4,000 shrubs and 3,000 perennials. One need only visit Rockingham Memorial Hospital to see the $1.4 million landscaping project, completed entirely by Fine Earth, a company started by Chad Layman in 1995. Even as a child, Layman knew that he wanted to enter the landscaping profession. “I had been mowing lawns and doing landscaping ever since I was 10 years old,” he said. A Harrisonburg native, Layman graduated from James Madison University in 1995 with a degree in accounting. “Having a strong finance and accounting background really helps when trying to run your own business,” he said. Now, at 38 years old, Layman’s hard work has paid off. He was recognized by the Harrisonburg Chamber of Commerce as the 2009 Entrepreneur of the Year. In addition, the U.S. Chamber
of Commerce has selected Fine Earth as one of the top 75 small businesses in the country for the past three years. Other projects the company has done include the Rockingham Technology Park, the Harrisonburg Crossing Shopping Center, the Waynesboro Target Center, as well as residential jobs. “Chad is definitely known for his enthusiasm and leadership,” says Gannon Irons, a local customer. “His business is definitely one of the best places to do landscape in Harrisonburg.” Layman also uses his company as a vehicle to give back the community. “We’ve done a $10,000-$15,000 Arbor Day project for the last four years here locally,” he said. This year’s project was to landscape the courtyard at Lacy Spring Elementary School. “We also did a $20,000 Welcome Home Garden for our returning soldiers
and volunteers that serve overseas,” he said. The garden, which is behind the Harrisonburg Municipal Building, won the 2011 Harrisonburg Downtown Renaissance Design Excellence for Landscaping Award. He also gives back to the community outside of work, serving on the board of directors for the Shenandoah Valley Builders Association, Big Brothers Big Sisters and the Harrisonburg
Rockingham Day Care Center. Layman loves getting his hands dirty both literally and figuratively in running his own landscaping business. He says, “I love the part of landscaping where you can take something that doesn’t look very good, make immediate changes, see your work at the end of the day and feel good about it.” — Camden Layell
Jenifer Jackson, 34 Every year, more than 51,000 guests stay at the Comfort Inn in Harrisonburg, and 34-year-old Jenifer Jackson’s mission is to make sure their stay is a cut above the rest. Jackson has been the general manager there since 2002. “My job entails really everything here,” she says. “I’m responsible for the operation of the property from top to bottom.” Though Jackson graduated with a degree in biology from the University of Virginia in 1999, she has worked in the hospitality industry for more than 18 years and is a third-generation hotelier. “I was raised in the hotel industry,” said Jackson. “My father runs a hotel management company, my grandfather bought a hotel in Florida and both of my siblings are in the industry also.” Hotel management isn’t just a job for Jackson; taking care of her guests truly makes her happy. “Watching guests go through their entire experience here is pretty spe-
cial,” she says, “especially when they’re here for special events or emotional times in their life.” Under Jackson’s direction, the Comfort Inn has earned numerous Choice Hotel’s Gold Hospitality Awards, recognizing superior quality and guest satisfaction. Jackson laughs at the memory of free time (“Free time? That’s funny!”), and spends most of her time outside the hotel volunteering with numerous hospitality associations. Jackson not only serves as chairwoman of the Virginia Hospitality and Travel Association, but also is actively involved on their Executive Committee and has served on their Board of Directors since 2004. She also has been on the Board of the Shenandoah Valley Travel Association since 2000. In 2010, Jackson founded and became chair of the hospitality committee of the HarrisonburgRockingham Chamber of Commerce. “Volunteering on these boards is
what keeps me motivated and active,” says Jackson. “It keeps my life interesting and keeps me engaged with the community.” In 2008, she received the State Leadership Award presented by the American Hotel and Lodging Association. “Jenifer is extremely driven,” says Barry Hawkin, executive director of the Virginia Hospitality and Travel Association. “I think her most admirable quality, as well as her greatest contribution to the association, is her leadership, which has allowed it to grow and prosper so that we can better serve our members.” Jackson said she was honored to be named to the list. “It was a shock,” said Jackson. “It’s always great to be recognized by the people that you work around and work with.” — Camden Layell
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Jonah Pence, 30 In a time when small businesses are finding it increasingly tough to start up and survive, 30-year-old Jonah Pence, a commercial relationships manager at Farmers and Merchants Bank in Harrisonburg, works every day to make sure that plenty of new local small businesses are able to blossom. After graduating from Virginia Tech, where he studied finance, and the University of Virginia, where he studied banking, Pence joined Farmers as a commercial loan officer. Now, Pence oversees a unique department at the bank, the Small Business Administration, which began in 2003. “Through the SBA, we’ve been able to start a good number of new businesses,” says Pence. “And that’s been a great experience to see people come in with an idea and a business plan, and
helping to make it happen.” To further aid small businesses, Pence has been on the Advisory Council for the Shenandoah Valley Small Business Development Center for the past three years. Outside his work with banking and small businesses, Pence is an active member of the Harrisonburg Rotary Club, where he co-chairs the Roteract Committee, helping to foster involvement in the community among JMU students. The club started a literacy program called Project Read, where members read to local elementary students at their schools. Also the chair of the Ambassadors Committee for United Way, Pence helps to promote and encourage donations to the organization. “I think for his youth and with all of
his responsibilities, it’s admirable, his willingness to engage in community projects,” says Frederick Fox, who’s known Pence for five years through Rotary. Free time doesn’t present itself often to Pence, who along with his wife of eight years, raises three children, all younger than 4. But, when he has the opportunity, he enjoys being active in sports. “I play racquetball, softball and I referee soccer matches,” says Pence. He was surprised but humbled by his selection for the list. “It’s nice to get recognized, certainly,” he said, “and I feel fortunate to be part of an organization and a community that allows me to get out and do things.” — Camden Layell
Harrisonburg, Va.
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Jennifer Shirkey, 39 Jennifer Shirkey loves to help her clients solve their problems. In the bestcase scenario, she can prevent those problems from occurring in the first place. Shirkey, 39, is an attorney with Lenhart Obenshain. “Generally speaking, I have a tax and business practice. Within that, I especially focus on estate planning and employees benefits,” said Shirkey. “I’m not a trial lawyer — my practice is more counseling and writing documents.” A Valley native, Shirkey completed her education at JMU in three years, graduating with a degree in English. She attended law school for another three years at Washington & Lee in Lexington. Upon completion of law school, Shirkey was selected to complete a oneyear judicial clerkship with the United States Court of Appeals for the Fourth
Circuit, which was an “honor,” she said. She then decided to return to her roots in the Valley to start her own private practice and raise a family. Shirkey and her husband Aaron have three children, George, Alexander and Jane. Shirkey has been named to the Best Lawyers in America in the area of employee benefits law for several years. Law and Politics Magazine has also named her a Virginia Rising Star and Virginia Business Magazine named her a “Legal Elite” in the past. In addition to her professional career, Shirkey said, “service and community engagement are two of my top priorities.” She serves as the chair of The Community Foundation for Harrisonburg and Rockingham County, president-elect of the Harrisonburg Rotary Club, a board member of the
Mike Gochenour, 34 When Mike Gochenour graduated from the University of Virginia in 2000, he’d planned on putting his degrees in economics and government to use as a lawyer. But, he realized his calling was in personal finance after helping his mother sort out the financial affairs his father left behind when he passed away. Now 34, Gochenour is in his 11th year as a financial adviser with Wells Fargo in Harrisonburg. “I help people invest and manage their money, personal assets, business assets and especially retirement assets, helping people plan for the future,” Gochenour said. Gochenour became first vice president with Wells Fargo Advisors in 2007, which is “quite a feat for his age,” said business partner Hugh J. Lantz. “[Gochenour] started working with us when he was very young,” said Lantz. “His work ethic was like someone 10 or 15 years older than he was. We’re one of the largest, if not the
largest, money managers in the Shenandoah Valley, and part of that is a result of his bringing in new clients with assets.” In 2009, Gochenour started a satellite office in Woodstock, where he grew up. Along with Lantz, Gochenour manages more than $350 million in assets for their clients. “I find my job very rewarding because it’s a way I can help people,” he said. “I always say I can help people with their finances more than other things. Whether we like it or not, money is important to everyone in their day-to-day life.” Gochenour is also accomplished outside Wells Fargo. He’s served on the board of the Rockingham County Fair for eight years, currently serving as vice president, and will take over as president in 2012. His duties have included lining up entertainment for the fair, and Gochenour has landed bigname artists such as Trace Adkins,
Jason Aldean and the Doobie Brothers. Gochenour became involved with fairs early in life. “I grew up with fairs,” said Gochenour. “My dad was president of the Shenandoah County Fair for 10 years. It’s just my background.” He also helps run his family cow and calf farm in Edinburg. “My brother does most of the main operations, but I help out with the decision making and financial end of it,” he said. And his financial expertise comes in handy with helping his wife, Angela, run the Cold Stone Creamery branch they own and operate in Harrisonburg. Gochenour was both surprised and touched when he learned of his selection for the list. “I’m kind of in awe,” he said. “It’s a humbling thing to be selected for something like this. I’m extremely excited and honored.” — Camden Layell
Rockingham Memorial Hospital Foundation and the Wildlife Center of Virginia Foundation and an officer on the Virginia State Bar Trust and Estates Section Board of Governors. Mike Fiore, executive director of The Community Foundation, said he sees something special in her. “When you get to know her more, you realize that volunteerism is truly coming from her heart in a charitable way for the good of the community,” he said. At 39, Shirkey is “clinging to ‘under 40’ as long as I can,” but insists that life has gotten better with age. “Each year brings a chance to do new things and, most importantly, another year to enjoy all the relationships I’ve been blessed with both inside and outside the workplace,” said Shirkey. — Cat Elsby
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Patrick Keefe, 37 Imagine the worst pain in your life. Medicine won’t help. You feel like you’re at the end of the road. Patrick Keefe, the 37-year-old founder of Shenandoah Chiropractic, PC in Harrisonburg, sees these types of people every day. “I always knew I wanted to be in a field that helped people,” says Keefe. Keefe discovered chiropractics through Jonathan Clarr, his roommate at Indiana University of Pennsylvania. “Jonathan told me he was going to be a chiropractor,” Keefe said. “I researched the field and realized I could help a lot of people this way.” After earning a doctorate in chiropractics, Keefe moved to Woodbridge and began working at the Prince William Chiropractic Clinic. Meanwhile, Keefe never lost touch with Clarr. In fact, their friendship turned into family when the two married sisters.
Don’t miss the next focus sections in the
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However, Woodbridge started to feel less and less like home. “I’m definitely more of a country boy at heart,” said Keefe. “Once I got married, I knew I didn’t want to raise my family in the D.C. area, so we moved here to the Valley.” Keefe opened Shenandoah Chiropractic, PC in 2006 and Clarr, who was practicing chiropractics in the area, joined Keefe as a partner. Keefe helps patients suffering from pain ranging from the minor to the extreme. “Sometimes relieving somebody of what most may consider mild pain, might be able to allow them to do their job again,” he says. Keefe has made special arrangements with the Harrisonburg/Rockingham Free Clinic for those who can’t afford his services. “When the clinic comes across patients in need of chiropractic care that have muscular skeletal conditions, they send them here to our office and we see
them free of charge,” says Keefe. “One of Patrick’s best qualities is his giving attitude,” says Clarr. “He’ll give you the shirt off his back.” Outside the clinic, Keefe is the president of the Harrisonburg Toastmasters Club, an organization that teaches members to become better public speakers. “I had a fear of public speaking,” said Keefe. “They’ve really helped me get over that fear.” Keefe is also actively involved in the Harrisonburg Rotary Club, co-chairing the Roteract Committee with Jonah Pence. Through his practice and volunteer work, Keefe is happy to have lived up to his ambition of helping others. “Part of what I like doing is changing people’s lives,” says Keefe, “and I’m very honored to be recognized for that.” — Camden Layell
Harrisonburg, Va.
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Ryan Waid, 37 Ryan Waid, 37, is a lawyer and partner at BotkinRose law firm in Harrisonburg. He counsels clients on a wide range of issues including employee benefits, health and welfare plans, taxes, wills, trusts and estate planning. Waid represents both individuals and “businesses at all stages, from start-ups to well-established companies,” he says. “I love the diversity of the types of things I work with on a daily basis,” he says. “I really find it fulfilling, helping both companies and people with the work that I do.” And his clients say they appreciate that work, too. “I’ve known Ryan for 10 years and his most admirable quality is his integrity,” says Mark Zimmerman, vice president for human resources development at RMH, one of Waid’s clients. “He’s done an outstanding job with
Rockingham Memorial Hospital, as well as with some personal work for my wife and I regarding our estate planning, and he does whatever it takes.” Graduating from Bucknell University in 1997 with a degree in sociology, Waid decided a law degree would open the door for far more opportunities. He attended the School of Law at Case Western Reserve University and received a J.D. in 2007, after which he earned a Master of Law degree in taxation from Georgetown University Law Center in 2004. Then he moved to Harrisonburg to work with Wharton Aldhizer & Weaver, PLC. “When I joined that firm,” said Waid, “myself and another attorney who wasn’t from the area had an idea to try and meet other people and maybe start to network a little bit. We needed to start some kind of
organization.” Consequently, Waid co-founded the Association of Young Professionals in 2004. “It’s a networking group for professionals in our area that are under 40 years of age,” he said. “We meet monthly to discuss either topics of local interest or have a speaker come from a local organization.” Waid also serves as a member of the Advisory Council for the Shenandoah Valley Small Business Development Center and was recently elected to the Board of Directors of the Massanutten Regional Library. He’s also actively involved with the Harrisonburg Lions Club. “I really love this community,” said Waid, “and I’m extremely glad to be a part of it.” — Camden Layell
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Scott Rogers, 33 For his success in the real estate business, Scott Rogers, 33, credits his unlikely pairing of a media arts and design major with a Masters of Education in counseling psychology. During his undergraduate years at JMU, he learned the skills of graphic design, Web design, journalism and communications, which landed him a job at Coldwell Banker Funkhouser Realtors assisting with graphic design and Web design his first year out of graduate school. “Through that experience, I was exposed to the real estate sales profession and decided to pursue real estate sales as a career,” said Rogers, who’s now an associate broker. With his previous knowledge of the Web, Rogers launched a real estate blog, HarrisonburgHousingToday.com, and has excelled at property marketing. His graduate degree, also from JMU, is what gives him a real edge in the business, he says.
“Roughly half of my courses were counseling classes. That prepared me well to work with clients and assist them through housing transitions,” said Rogers. Kemper Funkhouser, the chief operating officer at Coldwell Banker Funkhouser Realtors, attended JMU with Rogers and says he is the “total package.” “He’s very intelligent and he quickly recognized opportunities in the real estate market and combined that opportunity with the skills he possesses,” said Funkhouser. “He also is very personable and brings humor to any situation.” Outside of his career, Rogers stays active in the Harrisonburg community where he lives with his wife, Shaena, and his children, Luke and Emily. He currently serves on the Board of Directors for the Shenandoah Valley Builders
Association, the James Madison University Alumni Association, the Explore More Discovery Museum and Ten Thousand Villages. He is also a soccer coach and age group coordinator with the Shenandoah Valley United soccer program. Additionally he has co-created the websites TakeThemAMeal.com and PerfectPotluck.com with his friend Adina Bailey. These websites both are designed to help bring food to those in need. Rogers is glad to have the opportunity to help others while also doing what he loves. “I have enjoyed being able to use a variety of my skills and interests through my career,” Rogers said. “What I anticipated to be a good fit back in 2003 has indeed been a fantastic opportunity to use my gifts and abilities to their fullest.” — Cat Elsby
Harrisonburg, Va.
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One Small Step For You, One Giant Leap For Employees “The plant manager wants to see you,” my supervisor said. Great. Ever been summoned to the corner office? It’s like going to see the principal except worse, since the principal can’t fire you. So as we took the 5-minute walk to the front, I tried to think which of my, um, less-than-professional behaviors might have been noticed. My supervisor knocked on the open door to announce us. The plant manager looked up, glanced down at a note pad, then looked back up and said, “Hello, Jeff. Thanks for stopping in.” (Like I had a choice.) Fortunately, he just wanted to congratulate me for productivity improvement suggestions I had made. He didn’t know any of my actual suggestions, though, so he explained how shop floor employees were the true foundation of the company. Then he fell back on what I later realized was his standby go-to speech about a three-legged stool (if one leg breaks, the stool tips over) before sending me on my way. At the time, I was tickled. I had
Leadership Jeff Haden never spoken to him, so it was pretty cool he wanted to congratulate me in person. I could tell he looked at his note pad in order to remember my name, but hey, no problem. A few years later, I was helping to start up manufacturing operations for a new demand-print initiative. One day, to everyone’s surprise, the company CEO came to our facility. Instead of talking to our manager (who literally sprinted out of the door to try to greet him) he headed straight for me. “Hello, Jeff,” he said. “I’m John. I’m in town for the Board of Directors meeting and wanted to meet you and say thanks for everything you’ve done. You guys started up ahead of schedule, the cus-
tomer is delighted with the product, productivity is better than we expected … I can’t tell you how much I appreciate all the hard work. Do you have time to introduce me to everyone?” I am as cynical as they come — OK, probably more so — but at that moment I could not have been more proud of myself and of the rest of our group. I was genuinely pleased. It was awesome. Now compare the two situations. In the first example, I was summoned to the plant manager’s office. His time was clearly more valuable than mine. Sure, he wanted to congratulate me, but only if it would require as little effort and disruption to his day as possible. In the second, the CEO of a 30,000-
employee company came to see us. He went out of his way and made a special effort. He took the step. The difference in how employees respond when you take that small step is huge. Praise should reward, motivate and inspire. Make employees come to you, or inconvenience them in some way, or somehow implicitly show your time is more valuable, and the impact of your words is much less powerful. Every time you praise employees, take the step. Make the effort. Go where they work. Congratulate them in front of their peers. Let everyone see that whatever they have accomplished is well worth your time to recognize. Reward your employees’ hard work with a little effort of your own, especially when it only requires taking a few steps. — Jeff Haden lives in Harrisonburg, has ghostwritten more than 30 non-fiction books (five Amazon No. 1s), and is a featured business columnist for CBS News and Inc.com. He can be reached at www.blackbirdinc.com.
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Lenhart Obenshain Lawyers Named ‘Legal Elite’ Seven Lenhart Obenshain attorneys have been recognized in the 2011 “Legal Elite” survey conducted annually by Virginia Business magazine. The lawyers and their recognized expertise are: Patrick Asplin, intellectual property; Brian Brake, construction; John Flora, taxes, estates, trusts, elder law; Lisa Hawkins, real estate, land use; Jeffrey Lenhart, business law; Mark Obenshain, civil litigation, and Bill Shmidheiser, bankruptcy.
Larew Promoted To Manager Jacob Larew has recently been promoted to manager of DuPont Community Credit Union’s new branch at the corner of Reservoir Street and Neff Avenue. Larew has been with DCCU for seven years, previously serving as member support clerk, member services executive and assistant branch manager for the Lucy Lane office. Larew received a Bachelor of Science degree in marketing and business management from Virginia Tech and lives in Staunton with his wife, Jordan.
DCCU Wins Three First Place Virginia Credit Union League Awards DuPont Community Credit Union won first place in three community service awards sponsored by the Virginia Credit Union League. DCCU was honored with first place honors for the Louise Herring Award for free workshops it offered to the public on home buying, the Desjardins Youth Financial Education Award for financial education initiatives and the state Dora Maxwell Social Responsibility Recognition Award for its work with homeless shelters in Staunton, Harrisonburg and Shenandoah County. DCUU is a not-for-profit financial cooperative that operates nine branches in the Central Shenandoah Valley region.
Lam Joins DCCU As Mortgage Loan Originator Cynthia Lam has joined DuPont Community Credit Union as mortgage loan originator for the Harrisonburg and Woodstock offices. Lam has been in banking for 18 years in various positions, most recently serving as branch manager for a mortgage company in Waynesboro. Lam received a Bachelor of Science degree from Radford University and lives near Staunton with her husband, Rodney; they have one son.
Two Valley Employees Earn Their Licensures Josh W. Dunlap and Thomas A. Hartman of Valley Engineering both have earned their professional engineer licensures. Hartman works as a civil engineer
CF&M Bank Releases Third-Quarter Results F&M Bank Corp. (OTCBB: FMBM), parent company of Farmers & Merchants Bank, reported net income of $1.34 million in the third quarter of 2011, up from $891,000 for the same quarter in 2010. Income for the first nine months of the year is $3.25 million, a 23.6 percent increase during the same period last year. Deposits year-todate have grown $20.74 million to $445.79 million. The Timberville-based bank declared a third-quarter dividend of 15 cents per share. The dividend was paid to shareholders on Nov. 15. See VALLEY BUSINESS SCENE, Page 15
designing subdivisions, commercial and industrial properties and health care facilities. He has worked at the Harrisonburg engineering company since 2009. Dunlap also is a civil engineer and specializes in land development and site design. He joined Valley Engineering last year. Valley Engineering also announced that it has secured two contracts with West Virginia University for engineering services.
Webb Chosen For National Position Merv Webb, vice president of the Rockingham Memorial Hospital Foundation, has been elected to a oneyear term as secretary-treasurer of the Association for Healthcare Philanthropy. Established in 1967, the association is a nonprofit organization with 4,700 members who direct fundraising programs at about 2,000 health care facilities across
Harrisonburg, Va.
North America. Webb has served the association in several capacities, including regional director, regional conference co-chairman and as a board member of the AHP foundation. At RMH, Webb has overseen a variety of annual support and giving programs since 1976, including a $10 million endowment program and the fundraising that supported construction of the hospital’s new health campus southeast of Harrisonburg off Port Republic Road.
Kniss On Legal Nurse Certification Board Irene Kniss, legal nurse consultant case manager at Wharton Aldhizer & Weaver, recently was named to the American Legal Nurse Consultant Certification Board. The board, comprised of six members and a public representative, administers the Legal Nurse Consultant Certified program. Kniss obtained her certification in 2003. She began work as a registered nurse in 1977 and joined WAW, a law firm with offices in Harrisonburg, in 1999.
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Doing More With Less? Motivate Your Team for opportunities to celebrate — as a team — staff members’ successes.
Learn to climb the company lattice. Historically, lateral moves in
NEWS to
ME
— By Philip B. DuBose
Brief summaries from top business publications to help business leaders succeed.
Create a culture of motivation. As managers continue to face the goal of “doing more with less,” they usually find themselves having to meet challenging productivity goals with some of the leanest staffs in decades. Success depends on not just motivating employees, but on creating a culture of motivation in the organization. The September issue of Training and Development (T&D) describes an effective way to do so. The process begins with a manager becoming “reacquainted” with staff members in order to really know them. Then a manager will be able to provide assignments that are rewarding to each person and provide meaningful rewards for doing well in executing those assignments. It’s also important for the manager to establish clear expectations. It’s essential that objectives be measurable, and that the manager models the behaviors sought from direct reports. Finally, the manager must reward openly, often and with more than money, making sure that rewards are based clearly on merit, and looking
an organization were viewed as a bad thing, but as the current economy delays retirement for many older workers, opportunities to move up have decreased. Consequently, workers are finding themselves in situations where lateral moves now are instrumental in being able to move up later. As one author described it, “over is now the new up.” Nevertheless, such moves must be chosen carefully, and the Oct. 17 issue of Fortune offers some advice to help a person make smart lateral moves. Analyze a job on its merits and not on its name because some positions have inflated titles in some companies. Carefully assess how many future choices will be provided once you are in the new position. If your move is in-house, make sure your company respects the move. If the move is external, doing your homework on both the company and the position is even more crucial.
If you want to motivate your team, tell them they’re “losing slightly.” That’s the recommendation provided in an article in the October issue of Harvard Business Review. The advice is based upon research where people were placed in competitive situations and told that the winner would receive a cash prize. After one round of competition, participants were told that they were far behind, slightly behind, tied with or slightly ahead of their competitor. The only participants who picked up their pace in the second round were those who were told that they were slightly behind. In trying to apply these findings, it’s important to remember that “slightly behind” is a nebulous concept that can vary with different contexts. Also, competitive feedback must involve the appropriate comparisons, such as comparing the top performer with the second best performer, and the 12th best performer with the 11th best performer, in order for the comparisons to be motivating to employees.
Use electronic communication ef fectively. Computers and cellphones have been very helpful in many ways. They make us more efficient, allow us to work from anywhere and facilitate our being available to others 24/7. However, as described in the September/October issue of Training, the downside is that the decrease in our need to communicate face to face has made us less effective communicators. For example, people use email to avoid having a difficult conversation in person with other members of the company, causing the recipient to lose respect for the sender and the organization. Oftentimes, the tone of emails sent to clients may be misinterpreted without the visual and auditory clues that are present in face-to-face exchanges. Such situations typically result in misunderstanding and weakened relationships.
The good news is that such problems can be addressed, and the article offers some suggestions. One is to establish a policy that emails should be limited to who, what, when and where. A person who wants to discuss the “why” should stop writing and start talking. Similarly, if an email stream should devolve into an argument or disagreement, break it off and start talking, or better yet, meet with the other party in person to resolve the issue. — Philip B. DuBose is a management professor in James Madison University’s College of Business.
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Local Ledger Shenandoah Valley Regional Airport July 2011
July
July Percent 2011 2010 Change Passengers Flying Out 970 709 36.8 Passengers Flying In 971 774 25.5
Harrisonburg, Va.
Vehicle Registrations
Labor Force
Sept. 2011
Sept.
Sept. 2011
Harrisonburg Rockingham County Page County Shenandoah County Augusta County Staunton Waynesboro
2011 66 158 43 91 203 57 41
Sept. Percent 2010 Change 64 3.1 151 4.6 43 0.0 120 -24.2 233 -12.9 58 -1.7 34 20.6
Sept. August Sept.
2011 Harrisonburg 24,247 Rockingham County 43,727 Page County 12,140 Shenandoah County 20,626 Augusta County 39,160 Staunton 12,063 Waynesboro 10,383
2010 23,718 42,726 12,064 20,086 37,803 11,708 10,630
Source: Virginia Employment Commission
Source: Virginia Auto Dealers Association
Source: Bureau of Transportation
2011 23,971 42,932 12,420 20,740 38,673 11,978 10,674
Building Permits
Retail Sales (in millions)
Unemployment
Sept. 2011
Sept. 2011
Sept.
Sept. 2011
Sept. August Sept.
Harrisonburg Rockingham County Page County Shenandoah County Augusta County Staunton Waynesboro
2011 $91.6 $43.0 $17.0 $32.4 $41.4 $29.2 $37.3
Harrisonburg Rockingham County Page County Shenandoah County Augusta County Staunton Waynesboro
2011 7.4 5.5 9.7 6.8 6.2 6.6 7.7
Sept.
Sept. 2011 2010 Permits Est. Permits Issued Cost Issued Harrisonburg 0 $0 6 Rockingham County 14 $1.72 M 22 Shenandoah County 5 $1.1 M 4 Augusta County 14 $3.05 M 9
Est. Cost $1.03 M $2.47 M $1.22 M $1.70 M
Source: U.S. Census Bureau
YTD $815.5 $403.4 $126.7 $288.9 $346.0 $255.2 $335.8
Source: Virginia Department of Taxation
2011 7.3 5.5 10.8 6.8 6.1 7.1 7.5
2010 6.9 5.7 10.0 7.6 6.1 7.0 9.1
Source: Virginia Employment Commission
Home Sales September 2011 Median Sale Price Sept. ‘11 Median Sale Price Sept. ‘10 Percent Change
Harrisonburg $165,500 $200,000 -17.3
Rockingham $175,500 $161,950 8.4
Augusta $159,950 $159,900 0
Staunton $115,950 $200,000 -42
Waynesboro $124,900 $166,500 -25.0
Shenandoah $145,000 $160,000 -9.4
Page $126,500 $70,500 79.4
Average Days On Market Sept. ‘11 Average Days On Market Sept. ‘10 Percent Change
253 151 67.6
209 202 3.5
133 170 -21.8
164 261 -37.2
178 205 -13.2
175 138 26.8
244 153 59.5
Units Sold Sept. ‘11 Units Sold Sept. ‘10 Percent Change
27 19 42.1
52 33 44.4
42 34 23.5
22 10 120.0
23 13 76.9
35 33 6.1
8 7 14.3
Harrisonburg, Va.
Shenandoah Valley Business Journal
November 2011
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Five Steps For A Smart Financial Start In 2012 If you pay attention to the news, you’ve seen governments around the world struggling to balance their budget and stay afloat. Ironically, the basics of balancing the income and expenses of a country are not that different from what you do with your own finances — and it can be just as much of a challenge. But a well-planned budget is an invaluable tool if you want to improve your financial position. Here are five things you can do now to make setting and reaching your 2012 financial goals a lot easier.
Step One: Organize Your Bills Start by gathering all of your monthly, quarterly and annual financial obligations. Next, look back through your check register or your bank statements and collect data of all the products and activities that drain money from your wallet. Then list and categorize these expenses. Standard categories include food, clothing, general household, transportation, entertainment and so on. Saving for various things should be on the list too, since it takes money out of circulation, if only for the time being. You’ll be ahead of the game if your budget accounts for “unplanned” expenses such as a visit to the emergency room (now an especially costly adventure, thanks to high deductible medical plans) and car or home repairs. While you may not be able to name what financial burden will arise in the next 12 months, you can be sure something will cause you to part suddenly with some of your hard-earned money. If you have cash set aside for just those occasions, then you can pay the expense and
Valley Business Scene from PAGE 12 Cadence, Inc. Announces Q3 Results Cadence, Inc., a local manufacture of medical devices and scientific solutions, announced unaudited results for the first nine months of 2011. The results included a 14 percent increase in revenue from last year to $30.7 million. Earnings per share increased 22 percent from last year to $1.16 per share. Earnings before interest, taxes,
Investments Beth Nelson avoid a crisis. If not, you risk defaulting on other obligations, damaging your credit and causing all too much stress in your life.
Step Two: Scrutinize The Numbers To create a realistic budget, examine and adjust the expenses you’ve identified above against your takehome pay. Highlight areas that are out of whack. One way to evaluate the numbers is to break down your budget categories by percentages. Ideally, your housing costs should not exceed 30 percent; transportation expenses should not exceed 20 percent; and food should fall under 15 percent of your total expenses. Look online for guidelines and see where your spending exceeds recommendations.
Step Three: Fix What You Don’t Like To change your financial reality, set realistic and stretch goals that will improve your bottom line. When you identify a target — for example, to trim $100 from your monthly food budget — break it down. What does this mean for you on a daily or weekly basis? Maybe you need to buy items in bulk, purchase off-brand, clip more coupons or employ some other cost-saving strategy. Be creative and rise to the challenge.
depreciation and amortization were up 27 percent compared to 2010. “Our income related comparisons benefited to some degree by having a weak income period in quarter three of last year,” said Ken Cleveland, chief financial officer. “Nonetheless, we are having a strong growth year and believe our long-term strategy is working. We continue to be in a heavy investment period. We broke ground on our 25,000-square-foot facility addition in Virginia and added 20 positions in Q3 company-wide with a number of open positions still to fill.”
If it’s clear you don’t have sufficient money coming in each month, consider ways to increase your income. Do you need to work overtime, go after that promotion, pursue a new career or get a second job? If you’re stuck where you are, circle back to your spending habits. You may need to downsize your house or car, stop eating out or cut up your credit cards. You’ll be pleasantly surprised by the ideas you generate when you take the time to examine the numbers with a clear head and a critical eye.
Step Four: Follow Your Budget There’s no point in making a budget if you don’t intend to act on it. Keep
your budget in front of you and document your expenses on a daily basis. Then adjust your spending as necessary. Monitoring your budget this way can make your money more manageable and give you the feeling of being in control.
Step Five: Check In With A Financial Adviser There are books and websites that can teach you the finer points for preparing and following a budget. But there’s nothing quite like being in the presence of someone who can share their financial knowledge. Consult a financial adviser for an honest assessment of your financial health and take advantage of insights and strategies that can help you improve your finances in 2012 and beyond. — Beth A. Nelson is a financial adviser with Ameriprise Financial Services in Harrisonburg. She may be reached at 434-3622, beth.x.nelson@ampf.com or www.ameripriseadvisors.com/beth.x.nelson.
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