Drill, Baby Drill!
Published By Specht Newspapers, Inc
Haynesville Shale Still A Top Producer In Northwest La.
The Heartbeat of Northwest Louisiana Growth
April 2013
2 | April 2013 | BUSINESS MONTHLY
PERSPECTIVE THE FIRST WORD
Take Advantage of Unexpected Opportunities
More than 10 years ago, a major grown his business exponentially hail storm struck my hometown of over the past two years. Minden. It was a traumatic event, As business owners and decision causing much damage to roofs, vehi- makers, it is our duty to locate new cles and anything left outside. opportunities for business growth. Although it was a very DAVID SPECHT JR. detrimental event, there were those that saw major opportunities and seized them. Literally, within hours, hail damage repair shops began popping up all over town. Roofers were also in town in full force. Insurance companies were cutting checks to claimants with very little resistance The business that fails to grow will and the economic engine was firing eventually be a business that fails. on all cylinders. Even the newspaThe Haynesville Shale play has per benefited, as all the aforemenbrought a host of business opportutioned businesses advertised their nities to our area if we search for services on a daily basis. them. Some are easy to spot, while What started as a major negative others take more work. However, let in the news, turned out to be a posi- me assure you, they exist. tive, full of business opportunities. Carefully examine your products Prior to 2008, most folks had and services. See how they could fit never heard of terms like “shale the needs of those directly involved play” and “hydraulic fracturing.” Oh with natural gas, or perhaps an what a difference five years have ancillary business tied to natural made. gas. They are out there if you look Today, many local folks are for them. receiving royalty checks on top of With our national economy mineral lease checks they received. uncertain at best, we have to be Others are tapping in to opportunimore diligent and creative than ever ties that have come with the natuto continue our growth in northwest ral gas boom here. Louisiana. Seeing and seizing the business The opportunities surrounding opportunities around us are the the Haynesville Shale are just a few keys to prolonged economic growth examples. We can look to the host of in northwest Louisiana. other thriving industries here to Sometimes the opportunities are find others. right before our eyes, as was the It is rare that business opportucase with the mineral lease paynities fall into your lap. Get serious. ments. Others take a little work and Get aggressive and help our local vision. economic engine continue to fire on I remember the story of a caterall cylinders. You will be so glad you ing company in Minden that capidid. talized on the shale early in the game. He learned that remote gas DAVID SPECHT JR. is President of Specht rig sites needed food service for Newspapers, Inc. Read his blog about leadership their employees and he had the at www.DavidASpecht.com He may be reached product to meet those needs. With his cooking trailers readied, he has via email at dspecht@bossierpress.com.
Opinion
BUSINESS MONTHLY| April 2013 | 3
ON THE COVER
HAYNESVILLE SHALE
PIPING IN THE PROFITS
CONTENTS
It’s been five years since the term “Haynesville Shale” was first introduced to northwest Louisiana. How is this natural gas play producing for the area?
...Starting on Page 5
FEATURES
6
8
Drill Baby Drill Haynesville Shale Still A Top Producer for Locals
Bringing a Flock of Visitors to Town Wildlife Refuge an Asset
PERSPECTIVE
3 7 8
11 17 Find More Online at www.nwlabusiness.com
4 | April 2013 | BUSINESS MONTHLY
The First Word Higher Education Needs a Long-Term Funding Plan
From the Bossier Chamber LOGA Urges Oil and Gas Industry to Speak Out
Marketing BS (Bossier-Shreveport) Training Yourself for Success
Win-Win Powertools Don’t Practice on the Customer
Insurance Matters Protecting Your Business Equipment
Volume 4, Number 1
©Copyright 2013 by Specht Newspapers, Inc. All rights reserved. Business Monthly is published each month by Specht Newspapers, Inc. at 4250 Viking Drive, Bossier City, LA 71111. Telephone (318) 747-7900. Information in this publication is gathered from sources considered to be reliable, but the accuracy and completeness of the information cannot be guaranteed.
FEATURE
Drill, Baby Drill!
HAYNESVILLE SHALE
Haynesville Shale Still A Top Producer BY SEAN GREEN Energy Studies report, the
About five years ago, northwest Louisiana resembled something of the old gold rush days — land men and prospectors arriving from all over, trying to find and buy land in the Haynesville Shale with the hopes that it would pay off to the tune of millions. Then, the bottom fell out. The recession hit in 2009 and energy prices dropped and the high cost of the type of drilling in the Haynesville Shale made discovery and further drilling uneconomical. What resulted was a perception that the shale had been a bust at worst — a non-factor at best. However, Ragan Dickens, North Louisiana Director and Communications Director for the Louisiana Oil & Gas Association, said that the best days lie ahead. “As we have only produced roughly 25% of the resources in the ground in the Haynesville Shale, much activity is in the future. The main thing keeping operators from drilling today is the economics,” he said. “As the market rebounds and the demand for natural gas increases, the Haynesville and other natural gas plays around the country will once again thrive.” And thanks to unconventional natural gas reserves and production development like that of the Haynesville Shale, the Louisiana manufacturing industry is experiencing an economic renaissance. According to a LSU Center for
Louisiana manufacturing sector has announced $62.3 billion in new capital investments over the next five to eight years in the state. Each natural gasrelated project will result in a total of $20.2 billion in capital investment in Louisiana over the next nine years. Construction of these recently announced projects is estimated to generate more than $29.7 billion in economic output — a cumulative increase of 214,670 jobs generated and a $9.3 billion in increased wages over a nine-year construction period. “The shale is already an economic engine,” said Dickens. “It has already produced thousands of jobs, hundreds of millions of dollars in economic impact for an area that is steadily losing plants and industry.” Not to mention that the viability of compressed natural gas as an alternative fuel is helping drive interest in production within the shale. “Large corporations are switching over their entire fleets to CNG on a weekly basis around the country,” said Dickens. “CNG vehicles are now being produced in the factory by Dodge, Ford, Honda, Chevy and Audi to name but a few.”
Oil and gas production has already led to hundreds of thousands of jobs and hundreds of millions in direct royalty and bonus payments, as well as local, parish and state tax revenues. This is why in February 2012, the Center for Business and Economic Research at LSU-Shreveport began research on the impact of the Haynesville Shale on indicators of growth, such as poverty levels, housing, employment and construction. As a result of the research, the
See Shale, Page 6
BUSINESS MONTHLY| April 2013 | 5
FEATURE
HAYNESVILLE SHALE
Shale: Parishes continue to see benefits from royalty income Continued from Page 5
eight parish region affected by the shale — Bienville, Bossier, Caddo, DeSoto, Natchitoches, Red River, Sabine and Webster — has seen many areas of growth and indicators of economic health. The parishes have all seen an increase in royalty income of 200% from 2007 to 2011. Total population of the eight parish region has increased 2.3%. Retail sales, a good indicator of the health of an economy (similar to consumer spending), for the region have grown by 53.3% between 2007 and 2010, with mining, construction, transportation and lodging/food service industries seeing the most growth. Highlights from the five individual parish profiles studied are as follows:
Bossier Parish
Total personal income increased 20.5% from 2007 to 2010, a growth directly related to employment opportunities and royalty income offered by Haynesville Shale development. From 2007 to 2010, the parish has seen a 62% increase in average employment in the mining sector and a 39% increase in average employment in the lodging/food service sector, two industry categories tied closely with shale development. Since 2007, the parish has seen a 31% increase in total places of employment.
Caddo Parish
6 | April 2013 | BUSINESS MONTHLY
Median household income increased 6.2% from 2007 to 2010. Overall, since 2007, the total places of employment increased by 4.06%. As a result of shale activity, Caddo Parish experienced an increase in spending on projects in the non-residential sector, including office/bank buildings,
schools/colleges, streets/highways, bridges and river development.
DeSoto Parish
Median household income increased 6.6% from 2007 to 2010. The total number of housing units increased 6.9% from 2007 to 2011. Since 2007, the total number of places of employment increased 12.6% for all industries in the parish. Non-residential construction projects increased 250% from 2007 to 2011.
Red River Parish
Median household income increased 10.3% from 2007 to 2010. The parish’s total civilian labor force increased 8.4% from 2007 to 2011. Since 2007, the parish saw increases in overall average annual employment (9.9%), average annual wages (35.2%) and places of employment full- or part-time employment (5.8%).
Sabine Parish
Per capita income grew 13.5% from 2007 to 2010, a growth directly related to employment opportunities and royalty income offered by Haynesville Shale development. There was one non-residential construction project in 2007 with a value of $1.4 million. In 2011, there were three non-residential construction projects with a total value of $3.0 million. The parish experienced a 214.7% increase in total retail sales from 2007 to 2011. SEAN GREEN is managing editor of the Bossier Press-Tribune and a contributor to Business Monthly.
PERSPECTIVE
FROM THE BOSSIER CHAMBER
LOGA Urges Oil and Gas Industry to Speak Out
The Louisiana Oil and Gas by experts, not Matt Damon. Association (LOGA) has stated Once the oil and gas industry is recently that the oil and gas industry on the defense about a particular must increase its educational output. topic, too much time is spent debunkAnother negative film has been ing false information rather than released regarding the oil and natuproducing quality and factual conral gas shale boom that is increasing across the nation. EMILE CORDARO The latest film, “Promised Land,” featuring several A-list actors, attacks the oil and gas industry regarding leasing and hydraulic fracturing. The differences between this film and others, like “Gasland,” are very little. The groups that stand behind these movies are doing one thing right—a mass scale public relations campaign. tent that can be distributed through The oil and gas industry can learn the medium of choice. from this basic concept of public relaThe facts about hydraulic fracturtions. The idea is to produce materiing favor the oil and gas industry. It als that are meant to educate the is a safe process and economically public about a particular topic using productive for our national economy means like the Internet, television, and job market. publications and grassroots camWhile facts are not required by paigns. Hollywood to produce a successful “Promised Land” is utilizing all of film, it will be vitally important for these PR tactics. According to the the oil and gas industry to proactivecast, the film is meant to start a conly communicate the truth to the genversation about hydraulic fracturing. eral public. According to LOGA, no one will argue that a conversation needs to be had about this technical process, but EMILE CORDARO of AEP SWEPCO, is Finance Chair for the the conversation needs to be driven Bossier Chamber of Commerce.
Opinion
BUSINESS MONTHLY| April 2013 | 7
PERSPECTIVE
MARKETING B-S (BOSSIER-SHREVEPORT)
Train to be the Best You Can Be
We have all heard it said many times, “ you can never train enough.” The older and more experience that I gain both in my career and in my life, I find this phrase to be more and more true as the years go by! I think of the many occasions during my career where I was not prepared for the tasks that were on the road ahead. Did these opportunities have good outcomes? No, usually not. Sometimes, I got lucky. Conversely, I think of the many opportunities where I did take the time to study, learn and prepare properly. In short, I trained well. In almost every case, the outcomes were positive. As such, I achieved the desired results! I won! And from a sales representative’s perspective, my customers won!! What does it take to be the best you can be at what you do? How do you set yourself apart from your competition both as a sales consultant and as an individual? Are you ready to make the commitment? Are you
8 | April 2013 | BUSINESS MONTHLY
RANDY E. BROWN
lence, but we rather have those because we acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit.” We should all strive for excellence. If you have not read the well known book from 30 years ago by business management guru and author Tom Peters “In Search of Excellence,” I suggest that you do so. It is a long read, but it will be well worth your time. Though the book has been out for many many years now, the information contained within is still very pertinent to today’s business world and professional environment. If we really want to be the best that we an be at what we do, there is absolutely no excuse for not training enough and not being properly prepared. We owe it to ourselves, our team, our companies and most importantly, our customers.
Opinion
ready to accept the challenge? In past columns, we have talked about inadequate training being a factor in the failure of sales representatives, both the rookies and the pros. As author Tom Hopkins says, “ You are your greatest asset. Put your time, effort and money into training and grooming your greatest asset.” Furthermore, to quote Aristotle, “Excellence is an act won by training and habituation. We do not act rightly because we have virtue or excel-
If we are untrained and unprepared, those around us will definitely notice. We will not be able to achieve our goals. In short, we will not meet either our own expectations or the expectations of those around us. If we are the leaders that we strive to be, the leaders that we aspire to be, then we must live up to the required expectation level. The bar is set high, and I must ask again, are you up to the challenge? In conclusion, training, training and more training.... consistently, frequently and constantly! Again, you can never train enough! You can train too little, but you can never train enough!! Practice, practice and more practice! Good luck and good selling!!
RANDY BROWN is Advertising Manager of the Bossier Press-Tribune and an 11-year veteran of marketing and media in Northwest Louisiana. He may be reached via email at rbrown@bossierpress.com.
BUSINESS MONTHLY| April 2013 | 9
10 | April 2013 | BUSINESS MONTHLY
PERSPECTIVE
WIN WIN POWER TOOLS
Whatever You Do, Don’t Practice on the Customer
potential responses to customer I’ve been in sales my entire questions. life… “We’re all in sales and sellOne of my early students came ing all of the time. Our #1 product to me and confessed that he loved is us.” That’s my mantra. Early the product but just couldn’t on in my career, I discovered my gift for coaching and training. God gave me the JERRY FRENTRESS patience and passion to help others. I surprised myself when I got more excited than my students when they were successful. I also quickly developed an appreciation for the basics. If I were a football coach, I would be coaching the fine art of tackling and blocking. I’m certainly not a football expert, but it seems to me if you can’t master these fundamental make the connection with the skills you won’t make the client. He couldn’t get the “yes”. I sale…...I mean the team. put a cassette recorder (yes, I’ve Professional athletes plan, prebeen around a while) in front of pare and practice more than they him and asked him to make his play. The game may be only 3 presentation. I assured him I hours long, but if they want to would smile, listen and wouldn’t win, they seriously PPP throughgive him any difficulties. He took out the work week to be ready at the cassette home to review. The game time. Success in selling is next day, he stood in front of my the same….regardless if it’s desk and shared what he had inside or outside sales, how learned. “No wonder my clients planned, prepared and practiced you are will decide whether you’re don’t buy from me. Even I didn’t understand what I was presentwinning or losing. ing.” For some built-in reason, we I guess it depends on what you salespeople dislike all of the PPP really want from the precious stuff and enjoy practicing on our moments in front of the client or clients and customers. We rely on customer. Do you want to make the higher skill of “shooting from the sale and serve the client’s the hip”. It seems that our singuneeds? Do you want to be good at lar goal is to just get in front of the client. Many business owners your job? Do you want to earn more money? Do you want the worry more about getting somecustomer or client to come back? one in the door or on the phone I love quotes. With a few carethan they do about getting ready fully chosen words, Malcolm for their arrival or call. Gladwell effectively made the For those of you who continue to ignore the “3 P’s” please under- point in just two lines. “Practice isn’t the thing you do stand that your clients or cusonce you’re good. tomers know what is happening. It’s the thing you do that They want to work with sellers makes you good.” who appreciate the client’s time Malcolm Gladwell / Canadian and come to the table prepared. Planned and practiced would be a Journalist & Author of “The Tipping Point: bonus. My wife and I visited the appli- How Little Things Make a Big Difference” ance section of a big box store. I asked the salesperson to recommend the best “value”. His response was… “This is the cheapest!” He clearly did not JERRY FRENTRESS — Speaker & Coach, Win-Win understand the question. He just Power(ful) Tools for Sales, Service and Employee wanted to sell something…not Interviewing. Website: help us. He lost the opportunity www.WinWinPowerTools.com. to sell a product that probably cost more and would have made Business Facebook: him and his company a higher www.Facebook.com/WinWinPowerTools . 742income. He hadn’t been trained 0009 / Bossier City and certainly hadn’t practiced his
Opinion
BUSINESS MONTHLY| April 2013 | 11
12 | April 2013 | BUSINESS MONTHLY
Bringing a Flock of Visitors
PERSPECTIVE TOURISM
Wildlife Refuge an Asset to Local Tourism
Photos By Ronnie Maum
The recent opening of Bossier City’s Arthur Teague Parkway extension has not only meant better traffic flow for drivers, but for nearby attractions, like the Red River National Wildlife Refuge. “It’s opened us up to a lot of new visitors that didn’t know we were here,” Refuge Ranger and Visitor Services Specialist Terri Jacobson said. The 650-acre refuge, which was established by law in 2000, sits in the expansive Red River Valley and is a habitat for all things wildlife, from bottomland forestry like hardwoods, cypress sloughs and swamps to a variety of animals, including migratory birds, coyotes, bobcats and more. “We’re not a zoo and we’re not a nature park that has a lot of captive animals. We’re totally a wild nature place in that we provide a natural habitat for the animals and educate people on all of the things you can do to help,” Jacobson said.
DONECIA PEA
Mississippi, Oklahoma and even California,” Jacobson said. “We’re hoping to host more events like that.” Jacobson estimates around 10,000 visitors may pass through the refuge throughout the year. Many of them are fishermen, hikers and photographers. Some go canoeing “We’re open during the daylight hours and people come here just to go hiking, walking. Bird watching is a big thing,” Jacobson said. “A lot of people come at lunch to just sit, relax and eat. We don’t have picnic tables, but we have lots of benches and it’s a great place to get away.” Visitors can also shop for gear and accessories, such as backpacks, binoculars, field guides and more, at the center’s Nature Store, which is run completely by the Friends of the Red River National Wildlife Refuge and volunteers. In all that they offer, Jacobson
Opinion Most recently, the headquarter unit added a new, 9,000-square-foot visitor and education center in January 2012. A roster of educational programming and meeting space for schools, scouts, clubs and other groups are offered. “In January of this year, we hosted the Louisiana Ornithological Society’s annual winter meeting here and people came from all over the country, including the Gulf Coast, Texas, Arkansas,
said their main focus is on nature. “Our mission first is wildlife, then people. So in that regard, we’re not a place that has the standard park equipment or attractions. We want people to experience nature,” she said. “We want to keep it a safe place for the wildlife that live here and a safe place to visit.” They see the influx of new visitors and groups as a win for everyone. “We’re helping the economy. It’s a plus for tourism, local businesses and hotels,” she said. Learn more about the Red River National Wildlife Refuge at www.fws.gov/northlouisiana/RedRiv er or www.friendsofredriver.org. Visit www.Shreveport-Bossier.org to learn more about this and other attractions in Shreveport-Bossier. DONECIA PEA works with media relations at the Shreveport-Bossier Convention and Tourist Bureau. BUSINESS MONTHLY| April 2013 | 13
PERSPECTIVE UN-COMMON SENSE MARKETING
Three Ways to Turn Up the Volume of Your Marketing
The falling pollen is nature’s way of recreating new life. Maybe it’s time to do a Spring Tune Up and bring new life into your marketing! Here are 3 social media tools you may want to try.
1) Google+ and Google Hangouts In downtown Shreveport recently, CoHab hosted a Knowledge Swap to discuss Google+. Are you wondering how it can benefit you? Clearly, Google+ does not have the gigantic following that Facebook has…yet…but you should definitely claim your space there. What are some benefits to using Google+? As a Google product, your presence there will boost your Google rankings. It’s easier to share posts or photos with limited “circles” or groups of friends than in Facebook. Different people can see different posts. Google+ Local is a valuable way to show up in a Google search if you are a brick and mortar business. Hangouts! This is the Google+ version of a video conference for up to 10 people. Non-participants can also watch the Hangout. They can be recorded live and pushed out to YouTube, as well. Use it to connect with team members in other
14 | April 2013 | BUSINESS MONTHLY
AMY KINNAIRD
Opinion
offices, manage customer support, or talk to your clients in a “face-toface” meeting. This might be a good free substitute for those other pricey webinar tools. You can even share desktops. Users can +1 your pages, thereby moving them higher in search rankings.
2) LinkedIn added some cool new features. Here’s one you need to try. You can now attach documents, videos, a portfolio, images, or links to something on the internet. Use this to showcase a particular product, share a video, or highlight an important document or blog post. The attachments to your profile allow viewers to learn about you and your offerings. Try attaching your PowerPoint presentations through SlideShare. http://www.slideshare.net/
3) Custom apps on your Facebook page Add more zip to your Facebook page with custom apps. This kind of app shows in one of 12 buttons right below the cover photo on your Page. These apps (or applications) make your page look and feel more like a website. You could have your website or blog actually show inside Facebook. Or you could show some products, have a welcome page with videos, answer frequently asked questions, address your policies, or really anything you can put in writing, photos and graphics! To get some ideas of how to use this, look at other Facebook pages and see what some
of the big brands have done for apps. Look at what others in your industry are doing. The best part? Most of the apps you add are free! It requires very basic techie skills, but
you could Google this topic and find a ton of articles and videos that walk you through adding apps to your Facebook page. Turn up your marketing with one, two, or all three, of these ideas and see how fast your marketing springs back to life! AMY KINNARD is the owner of Uncommon Sense Marketing. She is a self-proclaimed Social M e d i a Evangelist. You can reach Amy at amy@uncommonsensemarketing.com.
d h l
s d w
f g , d d t s n s d s c o
s U s d , e ” f -
PERSPECTIVE FINANCIAL FOCUS
Must Haves: Retirement and Succession Plans
If you own a business, you may well follow a “do it now” philosophy — which is, of course, necessary to keep things running smoothly. Still, you also need to think about tomorrow — which means you’ll want WIL ADAMS to take action on your own retirement and business succession plans. Fortunately, you’ve got some attractive options in these areas. For example, you could choose a retirement plan that offers at least two key advantages: potential tax-deferred earnings and a wide array of investment options. Plus, some retirement plans allow you to make taxdeductible contributions. In selecting a retirement plan, you’ll need to consider several factors, including the size of your business and the number of employees. If your business has no full-time employees other than yourself and your spouse, you may consider a Simplified Employee Pension (SEP) plan or an owneronly 401(k), sometimes known as an individual or solo 401(k). Or, if your goal is to contribute as much as possible, you may want to consider an owner-only defined benefit plan. If you have employees, you might want to investigate a SIMPLE IRA or even a 401(k) plan. Your financial advisor, working with plan design professionals and your tax advisor, can help you analyze the options and choose the plan that fits with your combined personal and business goals. Now, let’s turn to business succession plans. Ultimately, your choice of a succession plan strategy will depend on many factors, such as the value of your business, your need for the proceeds from the sale of the business for your retirement, your successor, and how well your business can continue without you. If your goal is to keep the business within the family, you’ll need to consider how much control you wish to retain (and for how long), whether you wish to gift or sell, how you balance your estate among your heirs, and who can reasonably succeed you in running the business.
Many succession planning techniques are available, including an outright sale to a third party, a sale to your employees or management (at once or over time), or the
Opinion
transfer of your business within your family through sales or gifts during your life, at your death or any combination thereof. Many succession plans include a buy-sell agreement. Upon your death, such an agreement could allow a business partner or a key employee to buy the business from your surviving spouse or whoever inherits your business interests. To provide the funds needed for the partner or employee (or even one of your children) to purchase the business, an insurance policy could be purchased. Your estate plan — including your will and any living trust — should address what happens with the business, in case you still own part or all of it at your death. The best-laid succession plans may go awry if the unexpected occurs. All these business succession options can be complex, so before choosing any of them, you will need to consult with your legal and financial advisors. Whether it’s selecting a retirement plan or a succession strategy, you’ll want to take your time and make the choices that are appropriate for your individual situation. You work extremely hard to run your business — so do whatever it takes to help maximize your benefits from it. WIL ADAMS is a financial advisor with Edward Jones. He can be reached at (318) 549-9155.
NEWS
BUSINESS BRIEFS
Louisiana Boardwalk Sold
The Louisiana Boardwalk has been sold to a Wall Street investment firm.
"I think there's a lot of blue sky in front of this property now with the right ownership groups, the right property and leasing groups, and (new resort casino) Margaritaville to open soon next door. I think there's a lot of good synergy here,” said General Manager Ray Tromba.
He revealed the sale during a radio interview Monday.
"The property was sold, and the new owners are The Garrison Investment Group a firm out of New York, good ole Wall Street group," said Tromba.
Additionally, the Garrison Group has hired one of the top outlet leasing companies in America, EWB.
"That's an important distinction there, because the entire property direction will be toward an outlet center," said Tromba.
HFB names Barlow President & CEO
Home Federal Bank has announced that Jim Barlow, who previously served as President and Chief Operating Officer, of HFB, has been named President and Chief Executive Officer. Mr. Barlow has also been named President and Chief Operating Officer of Home Federal Bancorp, Inc. of Louisiana, where he formerly served as Executive Vice President and Chief Operating Officer. Mr. Barlow takes on the role of Chief Executive Officer of HFB, a position occupied by Daniel Herndon since 1993. Mr. Herndon will continue to serve as Chief Executive Officer of Home Federal Bancorp.
Mr. Barlow joined HFB in February 2009, and since then, he has been responsible for developing HFB’s strategic goals and direction. By executing HFB’s strategic plans, Mr. Barlow oversaw the transition of Home Federal Savings & Loan Association into a full-service community bank, renamed Home Federal Bank.
“Jim has been an integral part of our transition from a traditional savings and loan institution to a full-service community bank,” said Mr. Herndon. “Since his start, Jim’s commercial banking expertise combined with his strong managerial and people skills has propelled the growth of HFB. He has truly been committed to providing a better way to bank, and I have complete confidence that he is the right person to
lead this company.”
OIB Promotes McGowan
The Board of Directors of Ouachita Independent Bank has approved the promotion of Cindy D. McGowan to Senior Vice President and manager of retail branch operations. In her role as Branch Administrator, Mrs. McGowan is responsible for all aspects of branch operations in north Louisiana. “Cindy has been a stalwart in our retail area since the bank moved into the Shreveport/Bossier City market,” said Clyde White, CEO and Chairman of OIB. Mrs. McGowan has over has over 38 years of banking experience in Shreveport and Bossier City. OIB has four full service banking centers located at 9010 Ellerbe Road and 6801 Fern Avenue in Shreveport and at 800 Garrett Drive (Hwy 80 at Industrial) and 4200 Benton Road in Bossier City.
Margarita Resort Casino Job Opportunities
As Margaritaville Resort Casino prepares to open in June, the property is stepping up recruitment of qualified individuals to fill a variety of roles.
According to Human Resources Director, Kimberly Haigh, “Margaritaville Resort Casino is ready to fill hundreds of positions with friendly, enthusiastic employees to provide the highest level of guest service.” Positions opening up immediately include the following departments: Table Games Slots Security Surveillance Cage Hard/Soft Count Players Club Representatives Players Club Supervisors Executive Sous Chef Buffet Room Chef Fine Dining Room Chef Variety of Sous Chefs for multiple restaurants Margaritaville Restaurant Supervisor Gaming Application Specialist IT Operator Non-Gaming Application Specialist
At this time Margaritaville Resort Casino is only accepting online applications. Qualified applicants are encouraged to apply online at www.margaritavillebossiercity.com
— BUSINESS MONTHLY
BUSINESS MONTHLY| April 2013 | 15
NEWS
FROM THE BETTER BUSINESS BUREAU
BBB Breaks All Records for Customer Service
The Better Business Bureau celebrated its Centennial year by ringing the closing bell of the New York Stock Exchange, laying a wreath at the Tomb of the Unknowns in Arlington Cemetery, and helping a record-breaking number of consumers across the United States and Canada. The organization set new records in virtually all categories of service: Total instances of service (online and in person) topped 180 million, up from 142.5 million in 2011, a 27% percent increase. Inquiries jumped more then 20%, from just over 103 million in 2011 to 124.5 million in 2012 (inquiries are primarily consumers looking up a specific business or searching for a business in their area at bbb.org or via the mobile app). The number of complaints against businesses handled by BBB in 2012 was 984,721, up more than six percent from 927,256 in 2011.
16 | April 2013 | BUSINESS MONTHLY
National charity reports viewed on Give.org were up from three million in 2011 to five million in 2012, due in part to a new, easier-to-read reporting format. Visitors to the organization’s website averaged 8-10 million a month, also a record. “These numbers confirm BBB’s leadership in helping consumers make smarter buying decisions,” said Carrie A. Hurt, President and CEO of the Council of Better Business Bureaus. “They demonstrate the trust that consumers place in us to give them good information, to steer them toward good businesses and away from bad ones, and to help them resolve problems when they arise. It’s gratifying as we enter our second century to
know that our brand is more relevant than ever.” Hurt credits the venerated organization’s Centennial with helping to remind people just how valuable BBB can be. 2012 was also the first full year that BBB Business Reviews and ratings were available on an iPhone app. The organization’s popular Scam Alerts, blog and social media sites attracted a new generation of BBB users. Two new microsites – BBB Smart Investing and BBB Scam Stopper – generated a lot of interest, as did the group’s annual list of Top Ten Scams. One startling statistic had to do with online-only businesses, which had approximately seven times the number of complaints per business as “bricks and mortar” retailers. “When shopping online, it’s even more important to take the time to know who you are dealing with,” said Hurt. “It takes less than a minute to look up a company at
bbb.org. Do that before you enter your credit card information and click ‘Buy.’” One number that was down was good news – BBB AUTO LINE handled fewer lemon law disputes (17,158, down from 17,367 in 2011). “Automakers are making better quality automobiles and improving customer service,” noted Hurt. “This positive trend has been going on for years.” BBB maintains Business Reviews on more than 4.5 million businesses and rates them based on complaint histories, responsiveness to customers, licensing, legal and government action, and other factors. Nearly 400,000 are Accredited Businesses that meet the BBB Code of Business Practices and are permitted to display the BBB logo in their marketing and place of business.
— BUSINESS MONTHLY
PERSPECTIVE INSURANCE MATTERS
Steps to Protecting Your Business Equipment
with individual plug-in SPDs offer a You've worked hard to establish high level of protection for your your business. You've made tough building(s) and business equipment. decisions and dodged countless pitBelow are a few tips. Find out falls. Nevertheless, don't let the more about surge protection devices. excitement of moving forward distract you from the present: What are you doing to proKARY LANDRY tect what you've already built? Beyond the physical damage that burglaries, robberies, floods and fires can cause, the interruption to your normal business operations is devastating. Luckily, many of these unexpected setbacks are preventable. Follow these guidelines to not only help you prevent loss, but to help your business get up-and-running again as quickly as possible. Make sure any surge protectors you purchase are listed as UL Security Standard 1449. This is a national Keeping your place of business benchmark and means the product secure often comes down to taking has been thoroughly tested. the right preventative measures. Point-of-use devices can protect Below are some helpful tips. Read particular appliances in your home, more information about preventing workplace burglary and reducing the but a more comprehensive approach to surge protection is to combine risk of robbery. If possible, avoid having a concen- point-of-use devices with another device, like a service entrance surge tration of valuable items located in protector or an electrical panel surge one area, especially near windows, protector. as it can provide a would-be thief an Direct lightning strikes are powopportunity to "smash and grab" erful enough to overwhelm even the your property. best surge protection; that said, the Improve your lighting. Good inteultimate surge protection is to rior and exterior lighting is one of unplug equipment from the wall if the most effective deterrents against you suspect a surge might be comcrime. ing. A door-buzzer is a relatively inexpensive way to increase your busiWater Damage Protection ness’s security without interfering with the flow of traffic. Combined Water damage in the workplace with an intercom system and a reincan be a major problem: not only can forced door, a buzzer can ensure that it cost you quite a bit to clean up, but only legitimate customers and colit can also slow – or even shut down leagues can get inside. – your business operations. Many window locks are simply Find out more about protecting latches that can be pried open. Ask a your business from water damage. locksmith or security supplier how Always Have Adequate Coverage you can select more secure window Although you can do much to prelocks. pare, you can't prevent every calamiVideo technology gets smaller, ty. That's why the proper insurance better, and cheaper every year. For a is crucial, as it will help to repair or modest investment, you can cover replace your damaged or destroyed the perimeter of your business with equipment after a covered loss. video surveillance, and also digitally You'll be able to expedite the record footage. claims process if you've kept an upWhen you buy equipment, record to-date inventory of your business the serial numbers of each item. equipment. Remember to include leased equipment that is not specifically insured by the leasing compaSurge Protection ny. Electrical spikes and surges can damage your electronic equipment. However, properly installed electriKARY LANDRY is a State Farm® agent in Bossier City. cal service meter surge protection devices (SPDs) used in conjunction
Opinion
BUSINESS MONTHLY| April 2013 | 17
18 | April 2013 | BUSINESS MONTHLY
BUSINESS MONTHLY| April 2013 | 19
20 | April 2013 | BUSINESS MONTHLY