Inbuz dec 2016

IN BUSINESS DECEMBER 2016

WORKING AT HOME Why more companies are offering it

ALSO UNICOVER CONTINUES GROWTH, FAMILY-STYLE INSURING YOUR BUSINESS BUILDING COMMUNITY LEADERS

J2 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

GLOBE GAZETTE

Missed deadlines? Don’t accept the work MARIE G. MCINTYRE Tribune News Service

Q: Every month, I publish an internal newsletter containing articles submitted by 10 employees from different parts of the company. This information is always due on the first of the month, but two of my “reporters” never meet the deadline.

Sending them reminders doesn’t help at all.

As a result, I have to delay publication of the newsletter until their material finally arrives.

This not only creates issues with printing and delivery, but it also makes me look bad. How can I make my reminders more effective?

A: People who ignore

deadlines drive their moreorganized colleagues absolutely nuts.

UnforMARIE G. tunately, MCINTYRE new and Biz Coach improved reminders are not likely to be the solution. As long as you continue accepting late material, these inconsiderate co-workers will continue ignoring your pleas.

Instead, you must take your power back by refusing to let the stragglers dictate your schedule. Inform all reporters that the publication

deadline will now be strictly enforced, even if some articles are missing. If you stick to your guns, either the procrastinators will learn to be more prompt, or you will learn that they need to be replaced.

Previously, you may have rejected this approach because you fear having empty pages.

However, the key is to create a workable backup plan. Locate substitute material to use as a replacement. Simplify layout adjustments by putting the tardy people at the end. If these are regular features, insert a note indicating they were not available.

If you lack the

authority to make these decisions, explain the problem to your boss and ask for support. To regain control, you must stop coddling these laggards. So, if they remain unreliable, the ultimate solution is to find some new reporters.

Q: One of my coworkers is a total slacker.

“Melanie” has been here long enough to know exactly what’s expected, but she avoids extra work by saying no one told her what to do. If Melanie dislikes certain tasks, she will complain to our supervisor that they are too complicated for her.

Then those unpleasant duties are given to the rest of us.

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People say Melanie gets special treatment because she has friends in management. She is even allowed to wear inappropriate attire, a blatant violation of our dress code. This obvious favoritism has everyone upset.

I’m ready to go to human resources but would like to get your advice.

A: Since you’re looking for advice, here are three suggestions. First, pick your battles wisely.

Instead of unleashing a torrent of accusations about favoritism, friendships and dress code violations, stay focused on the unequal distribution of tasks.

Second, talk about issues that matter to

641.423.4784

management. If you can show how Melanie’s refusal to do her job is adversely affecting quality, costs, schedules or customers, you are more likely to get their attention.

Finally, don’t become the messenger. If you are the sole complainer, your HR manager may view this as a personality conflict, so take some concerned colleagues along.

Otherwise, you might discover why “killing the messenger” became such a popular phrase.

Marie G. McIntyre is a workplace coach and the author of “Secrets to Winning at Office Politics.” Send in questions and get free coaching tips at http://www.yourofficecoach.com, or follow her on Twitter @officecoach.

515.663.9643

GLOBE GAZETTE

IN BUSINESS • SUNDAY, DEC. 11, 2016 • J3

BUSINESS INSURANCE KRISTIN BUEHNER For The Globe Gazette

MASON CITY — The commercial insurance your business will need depends on the size and type of business, according to local insurance agents.

“Larger businesses may have multiple locations,” possibly in other states, said Matt Dodge, owner of Matt Dodge Agency Inc. in Mason City. “Other states have different requirements.“ Whether your business is large or small, insurance is one of the major expenses your business will have, Dodge said.

He cited a few basic types of insurance: • General liability.

• Business property/ building insurance.

• Electronic data insurance.

• Workmans compensation.

• Vehicle insurance.

Another type that may be necessary, depending on the location of the business, is sewer and drain backup insurance, Dodge said.

Dodge advises new business owners to calculate predictions of gross sales and payroll and expenses ahead of time.

“The thing people don’t know about commercial insurance is that many are estimated premiums based on your forecasts,” he said.

“Commercial insurance is auditable. You could get money back or owe more” (depending on the accuracy of your forecasts and subsequent insurance coverage).

Dodge stresses the importance of customers

Product-related liability, to cover product malfunctions that cause harm, also helps defer some of the business owner’s legal costs. Workman’s compensation includes short- and long-term benefits for employees hurt on the job and can cover lost wages while they are unable to work, as well as medical expenses.

— Callanan

Dodge

Callanan

really taking time with an insurance agent when determining what their needs are.

“My role is to educate the customer to make a decision that satisfies their needs,” he said.

Dodge said he likes to review the insurance of new businesses he has insured after three, six and nine months the first year to make sure it is adequate for their needs. The second year he reviews their insurance after six and 12 months.

“After that, we leave it up to the customer. It PLEASE SEE INSURANCE, PAGE J4

KRISTIN BUEHNER, FOR THE GLOBE GAZETTE

Tami Vetter, owner of The Rustic Corner in Charles City, says she has learned to take a more active role in keeping in touch with her insurance agent.

ENLIGHTENED ON INSURANCE

Continued sharing of information with agent a must KRISTIN BUEHNER

CHARLES CITY—Tami Vetter, entrepreneur and owner of The Rustic Corner gift, card and

clothing store in Charles City, said when it came to purchasing commercial insurance, “I probably didn’t know anything.”

Owner of two downtown

Charles City buildings, the first purchased in 2006, Vetter had been in business for several years PLEASE SEE RUSTIC, PAGE J23

J4 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

GLOBE GAZETTE

INSURANCE From J3 eventually gets down to once every 12 months,” he said.

The agent is the customer’s liaison with the insurance company, Dodge said.

“The agent is responsible for educating you about what you’re paying for,” he said. “He is responsible for answering your questions as your insurance needs change.

You need to become well educated about insurance and what it can do for you.”

A third-generation insurance agent in Mason City, Dodge has 23 years in the insurance business.

His agency sells American Family Insurance.

He said consulting with the insurance agent is part of the service.

“We’ll answer any insurance questions, not just about our own products.”

Casey Callanan, insurance agent with 1st Insurance in Mason City, said every business, whether large or small, needs to have insurance

or leased by the business, Callanan said.

Another type of insurance that professionals such as architects, attorneys, dentists or doctors may need is professional liability insurance.

Business auto insurance is also very common for those that have vehicles titled to their business’s name, Callanan said.

When choosing an insurance agent, Callanan recommends owners talk to an attorney or friends for recommendations.

Once you have chosen an agent, he suggests meeting with him or her at least once a year to assess whether compensation. It includes your business needs have changed. short- and long-term “We generally do a benefits for employpre-renewal in advance ees hurt on the job and of the annual renewal can cover lost wages date,” Callanan said. “We while they are unable to tell them about changes work, as well as mediin coverage and may cal expenses.” remarket their policy Business property to other carriers to be insurance, which can be both for business furnish- sure they’re getting the ings and a building owned best deal.”

“The agent is responsible for educating you about what you’re paying for. He is responsible for answering your questions as your insurance needs change. You need to become well educated about insurance and what it can do for you.”

Matt Dodge, owner of Matt Dodge Agency Inc. in Mason City

to cover items not covered by the owner’s personal insurance.

“Liability for a business is different than personal liability,” he said.

“You’re transferring business and sometimes personal risk to the insurance company in the unlikely event something were to happen.”

As an independent insurance agent, 1st Insurance represents 25 or more companies, said Callanan, an agent for 14 years. “We will help you find the companies geared to your individual needs.

We will also look for the most competitive rate.”

Callanan cited several primary types of

commercial insurance: General liability, covering premise liability.

It can include claims of negligence.

“Product-related liability, to cover product malfunctions that cause harm. It also helps defer some of the business owner’s legal costs,” Callanan said. Workman’s

GLOBE GAZETTE

IN BUSINESS • SUNDAY, DEC. 11, 2016 • J5

Working from home ‘really a win-win’ It boosts morale and can save money on overhead

Some as far away as North Carolina and Michigan KRISTIN BUEHNER For The Globe Gazette

MASON CITY — Of the 18 medical coding specialists employed

by Mercy Medical CenterNorth Iowa, 15 work from Grell

KRISTIN BUEHNER For The Globe Gazette

MASON CITY — Allyson Krull began working from home one day a week in October.

Marketing and leadership development director at the Mason City Chamber of Cervantez Commerce, Krull said that so far the arrangement seems to be going great.

“There are fewer Heinen distractions at home than at work,” said Krull, who lives north of Northwood.

She has set up a professional office in the basement of her home. Her two young children are in day care, just as they would be any other day.

“We have remote access to our computers,” Krull said of the arrangement. “I take hard-copy files home that I think I’ll need. I am accessible to the office by phone and by email. I can actually work a longer day because I don’t have the commute.”

She and Chamber executive Robin Anderson decided Tuesdays were

Most Mercy medical coders work from home

KRISTIN BUEHNER, FOR THE GLOBE GAZETTE

Allyson Krull shows her home office. Krull, who lives north of Northwood, says working from home can actually be more productive. the best day for her to work outside of the office because it worked best for the Chamber schedule.

The only drawbacks she can see is if she forgets a hard-copy file at work, if someone stops in to see her at the office or if several co-workers are sick that day.

“As a commuter, it’s handier,” Krull said of working from home.

“I’m still a productive employee.”

The trend for some companies to allow some

of their employees to work from home probably began with the influx into the workplace of Gen X or millennial employees and the availability of modern technology, said Abby Cervantez, professional recruiter for Quality Personnel Services (QPS) in Mason City.

“Employers can save money on overhead,” she said. “It boosts morale and can provide a more flexible work life. Sometimes it also helps reduce staff turnover, especially

in urban areas because of long commutes, getting stuck in traffic. The same goes in rural North Iowa. Companies do lose money” (due to commuter issues).

“Working from home is seen as part of the total benefit package,” Cervantez said.

The arrangement works well for employees in support positions or positions such as sales, where PLEASE SEE HOME, PAGE J7

home full-time or intermittently, said Denise Grell, Mercy Coding CDI manager.

“Three have chosen to work onsite, mainly for the social aspect, or maybe they don’t have a secure work location at home,“ Grell said.

Medical coding specialists use PLEASE SEE MERCY, PAGE J26

We congratulate all of the Leadership North Iowa graduates, especially our two First Citizens employees,

Nicole Means and Jamie Rice!

First Citizens Bank Mason City • Charles City • New Hampton Osage • Clarion • Kanawha • Latimer • Mora www.firstcitizensnb.com

J6 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

GLOBE GAZETTE

Unicover growing with family in control Jim Bakken and two children hold top positions at topper company ELDA STONE

For The Globe Gazette

BRITT — Jim Bakken, president of Unicover in Britt, has built a successful pickup cover business not just once, but twice.

From “a fairly meager beginning in Dad’s turkey shed” in Garner 40 years ago, Bakken expanded Unicover over the years until April 1996, when the facility burned to the ground.

That didn’t stop him. The very next day, he bought an existing building in Britt to re-house the business, and today Unicover builds up to 100 made-to-order units a week for customers in the Midwest and Canada.

“We’ve made over 300,000 toppers in the life of the company,” Bakken said.

He started out building pickup toppers at Winnebago Industries Inc. in Forest City when he was 18 years old. He worked his way up through several positions, including foreman, research and development and product manager.

“I decided I didn’t particularly like the little office cubicle,” Bakken said. “They were great employers, I enjoyed my time there and the opportunity they gave me to advance, but I wanted to get out on my own.”

At the age of 25, he talked to his dad about wanting to go into business for himself.

“I think he was skeptical,” Bakken said, chuckling. “Dad said, ‘Why don’t you do what you know how to do, build pickup toppers?’ I took it to heart, and turned in my resignation.”

He started out in 1976 with a partner who also had worked at Winnebago, but Bakken ended

ELDA STONE PHOTOS, FOR THE GLOBE GAZETTE

Unicover in Britt. up purchasing the other man’s interest in the company.

Early toppers to cover the bed of pickup trucks were often home-built, according to Bakken, with stud walls and paneling nailed inside and out. “They weighed about as much as a pickup,” he said.

“When we first started, Ford, Chevy and Dodge trucks were all the same boxes and most were white. Dealers would inventory toppers,” Bakke said.

“Today, that doesn’t exist at all. There are so many different sizes and styles, so virtually no dealers inventory product any longer. Every unit we build has already been purchased by the customer. It’s tougher for us because we are responding to the customer waiting for their topper.”

Today, aesthetics are far more important.

“There was no market for fiberglass then, but now it’s a PLEASE SEE UNICOVER, Unicover President Jim Bakken with his children, Brad, general manager, and Cheila Bakken Frayne, accounts PAGE J10 manager,

GLOBE GAZETTE

IN BUSINESS • SUNDAY, DEC. 11, 2016 • J7

HOME From J5 they are out of the office, Cervantez said.

“It’s a way for organizations to be strategic rather than stagnant in an increasingly global society,” she said. “You have to keep doing new things to keep your work force engaged.

The work force is really competitive right now.

Companies have to offer something that is cuttingedge to attract employees.

“It’s a nice option to have in an emergency if the employee has family issues or can’t come in for some reason. The employee needs to have integrity.

There has to be trust.”

Technical communications between home and office should also be good, Cervantez said.

A potential drawback would be the inability of

a company to oversee the quality of work being done at home, she said.

“But a lot of companies have open database access so they can check (the employee’s work),” she said.

Another drawback would be if an employee were using the arrangement to get out of doing more work.

Polly Heinen, assistant director of human resources at Principal Financial Group in Des Moines, said Principal has been allowing some of its employees to work from home at least 10 years.

The practice has become especially popular within the past six or seven years, she said.

Approximately 100 of the 400 employees at the

Mason City office work from home, Heinen said.

Some additional employees work from home as needed.

“It really is a win-win,” Heinen said. “It gives the employees flexibility. We know organizationally giving people control over where they work gives them a perk. It makes them more loyal to the company. It helps in winter, too (due to problems commuting), although not all are commuters. It makes a lot of business sense. It can help the employee balance home and work life.

Employees say their weeks are more productive.

“It’s worked really, really well for us,” Heinen said. “Our culture is more focused on the work getting done.”

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J8 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

GLOBE GAZETTE

Chamber class helps develop leaders Leadership North Iowa class offered annually KRISTIN BUEHNER For The Globe Gazette

MASON CITY — Making contacts and meeting new people were just some of the benefits of the Leadership North Iowa program, said Brandy Kozlowski, one of the hundreds of North Iowa employees who have Pang taken the training over the past 34 years.

Sponsored by the Mason City Chamber of ComKozlowski merce, the 12-week course is given annually, January through March, to identify and develop future leaders in the community.

The class is held once a week during business hours, said Allyson Krull, marketing and leadership development director at the Chamber.

“The training was very thorough,” said Kozlowski, director of human resources at Diamond Jo Worth in Northwood. “It was nice being new to the community and getting to meet people and tour local businesses. Due to the contacts, I have been able to join civic groups, including the Mason City Chamber and Jaycees.”

Kozlowski, who completed the course in the

spring, studied leadership and management and toured North Iowa businesses such as Lehigh Cement Co. in Mason City, Poet Bio-refining in Hanlontown and the Historic Park Inn in Mason City.

She was referred by Diamond Joe General Manager Kim Pang.

Pang said he has referred four employees to take the leadership training over the past five years.

“I think it’s important to give to future leaders of the community,” he said.

“I think they come back with a group of peers that they can actually call as a resource.

“Business leaders recognize employees that have potential and encourage them to be part of the bigger process. The class gives them the tools to be promoted. Leadership class provides many models that point to that direction.”

Pang, who has participated on a panel of employers to give tips to the Leadership class, said he has stressed the importance for future leaders to find a mentor “to help mold you.”

“I’ve had three people (who served as mentors),” he said. “These people, through good and bad, have given me good advice.”

Pang also shares his business card with the class participants and invites them to feel free to call him. He encourages them to be a networking source for others

ARIAN SCHUESSLER, The Globe Gazette

Dr. Jonna Quinn of the Mercy Obstetrics and Gynecology Clinic talks about the Lullaby Lane at Elmwood Cemetery in Mason City. Members of the Leadership North Iowa class created Lullaby Lane as part of their community impact project.

“The training was very thorough.

It was nice being new to the community and getting to meet people and tour local businesses.

Due to the contacts, I have been able to join civic groups, including the Mason City Chamber and Jaycees.”

BUILDING??

WE ARE!!

Brandy Kozlowski, director of human resources at Diamond Jo Worth in Northwood they meet.

Participants in Leadership North Iowa are typically referred by employers who view them as having potential for advancement in their career, Krull said.

They study subjects

such as citizenship, mastering the media and ethics in leadership.

Business leaders talk to participants about topics such as what helped them PLEASE SEE LEADERSHIP, PAGE J9

Forest City MS-35958

641-585-2231 • 800-594-9452 www.hollandcontracting.com

GLOBE GAZETTE

IN BUSINESS • SUNDAY, DEC. 11, 2016 • J9

Business coach can help in many areas

LEADERSHIP From J8 in their careers, how they might handle various scenarios in the workplace, leading by example and recognizing how your attitude affects other employees around you.

A graduation ceremony is held at the end of the 12 weeks at which a past participant speaks.

The Leadership North Iowa program also includes a community impact project chosen by the class, Krull said. Most recently, the class created Lullaby Lane in the Lullaby Land portion of Elmwood-St. Joseph Cemetery in Mason City as a place to lay to rest the cremains of babies lost to miscarriage.

Class members collected donations, secured bids and oversaw the construction and marketing of the project.

“They wanted a more visible marker there,” said Krull.

Past classes have created disc golf signage in East Park, painted

bedrooms for youths at Francis Lauer Youth Services and raised funds for the Rotary Club’s Layettes for Nicaragua project.

It is hoped that when class participants return to their work sites they will be more engaged in their community, have a greater appreciation of North Iowa and possibly be more committed to staying in North Iowa.

“Feedback has been positive,” Krull said.

“It’s a great networking project.”

The cost of the program is $375 or $500 to non-Chamber members. The fee is typically paid by the company.

Fee includes a one-year membership to the Mason City Jaycees.

Companies need not be located in Mason City to participate.

There is a limit of 30 students per class.

Employees interested in the Leadership North Iowa program may talk to Krull at 641-4235724, and should also talk to their employer.

Q: The financial services business I recently started got off to a good start but has of late been floundering, and I’m not sure what direction I want to go in. A friend suggested I retain a business coach, but I have no Bruce Freeman idea what The Small one would Business do for my Professor business or would wind up costing. Please advise.

A: A business coach can help in many areas of business, including the following: Vision: How do you envision your company in the future?

Business objectives: What are your business

objectives as related to revenue for the first year, first three years and first five years?

Company goals: What are your goals and how will you generate revenue over those same time periods?

Values and principles: What are your values and principles? In other words, your rules for running your business you’ll never violate.

Mission: Why are you in business, and what is the driving force that makes you do what you do?

Team: Who has to be on your team as employees or contractors to support you and your company?

Marketing: What will you do in terms of in-bound marketing and networking to go into the market place?

Financials: What

budgets do you need to grow your business and sustain your lifestyle.

Al Turrisi, an experienced business coach, recommends a careful self-examination of your business. The success of your business is based on how you see yourself and what you do each day to grow your business, so ask yourself the following: How you would describe your ideal prospect opportunity?

What is the quantity and quality of leads you have in your sales pipeline?

What are the criteria you use to measure the quality of your leads from suspect to cold to warm to hot to close?

What do you do on a daily basis?

What is the length of your sales cycle? The sales

cycle is the time it takes for you to have first contact, qualifying your prospect and closing.

What is your close ratio?

You can calculate this by looking at the number of prospects you are working on, how many are qualified or disqualified, and how many of the qualified prospects you close.

What is your sales process?

What is your value proposition?

Expense of business coach services is dependent on how much you expect from your coach and how much coaching and training you need.

Many business coaches provide a complementary consultation.

PLEASE SEE PROFESSOR, PAGE J19

Expense of business coach services is dependent on how much you expect from your coach and how much coaching and training you need. Many business coaches provide a complementary consultation.

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J10 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

GLOBE GAZETTE

Northern Cedar Service Co., Inc.

UNICOVER From J6 very large part of the market,” he said. “They want to make it look like part of the truck.”

The change in demand for custom pickup caps forced Unicover to continually adapt and expand.

“Probably only 20 percent of manufacturers are still in business who were in business 40 years ago,” Bakken said. “There are no garage shop businesses anymore. They had to get professional or get out.”

After growing for 20 years, Unicover vanished overnight in the fire of 1996.

“We lost everything — tooling, fixtures, order banks. We didn’t even have the phone numbers of our dealers,” he said.

“We didn’t have a plant.”

He recalls spending a sleepless night, knowing he’d have to face his employees in the morning.

“My dad told me, ‘Jim, let it go. There’s no disgrace.’ I told him, ‘You’re too late. I decided last night we’re going to do it.’ ” The next day, Bakken cast around for an existing building that could house the company immediately. Nothing was available in Garner but he lucked into a building in Britt.

“The company that was leasing it happened to be moving out the day of our fire. I purchased the building the next day.

The timing worked and the facility was here,” he said. “Half my employees were from Britt, so this was close enough to retain our labor, because that’s what makes it work.

“My employees told me, ‘Give us a place to work and we’ll make it

work.’ I expected it would be two years before we made a profit again, but the goal was to keep all our customers and dealers. It didn’t take two years, but it was a while.

I’m happy we took on that challenge.”

But he admits it was a struggle. Within three weeks, Unicover was at full production. It managed by doing whatever it took to get by. For weeks, he kept a crew with five people painting fiberglass at a location in Grand Forks, South Dakota, until a painting facility was built at the new plant in Britt.

“If it works, you look smart. If not, you look like an idiot,” Bakken mused. “That was a challenge bigger than starting the business. Even though my father told me to let it go — I don’t think he wanted me to go through the stress — he always believed failure was never an option.” Bakken said, pausing with emotion as he remembered his dad, who passed away about 12 years ago.

“I’ve always wanted him to be proud of his son. That was what drove me. At that time, my four children were in their formative years. I hope that was an example to each of my children. As they meet challenges, they seem to have no fear.”

The Unicover facility has grown to 75,000 square feet. Employees build aluminum, fiberglass and commercialgrade truck caps for all makes and models.

“We do a lot of custom work, more and more fleet business,” Bakken said. “We build product for several manufacturers of little electric vehicles.

We can build for special

design needs.”

Unicover has a dealer network of approximately 150 accounts across the upper Midwest and Canada.

Bakken believes that Unicover stays successful because of its commitment to service.

“What we really excel at is service. Price, product and service is all you have to offer,” he said. He pointed out that customers can buy other products at a similar price, and most manufacturers buy from the same component providers.

“We get to most of our dealers on a weekly basis.

Experience and length of time with our company can be helpful to walking customers through any issues. The experience we bring to the market is our largest asset and sets us apart from competition.

That’s what we’re told by our dealers.”

Unicover employs 26 people. That includes two of Jim and Cheryl Bakken’s children, Brad and Cheila. The Bakken family also has two more daughters, Dawn and Brenda, and 15 grandchildren.

“I met Cheryl at a football game in Forest City when we were in high school,” Bakken remembered. “As soon as I got my driver’s license, I asked her out.” They have been married 48 years.

Brad Bakken started working at the familyowned company while still in school. He now is general manager.

“We just don’t think about it, we get along like a team,” Jim Bakken said of working together.

“I love it, because when he disagrees with me it’s because he’s thinking. I don’t have all the right answers. Then we can

reach the best decision.”

Cheila Bakken Frayne recently gave up a longrunning career with Regis, which took her from managing a Mason City salon to training and supervising managers over a large Midwestern region. She put in a lot of driving time to Minneapolis, according to Bakken, and now that her five children are in school, she wanted to be closer to home and take on a new challenge. She started as accounts manager last May. Jim Bakken believes their skills very much complement each other.

Brad, the youngest of the Bakken family, is in production. Cheila, the oldest, is in sales and marketing.

“They always got along well as kids,” Bakken said.

“It’s great for me to watch them work together … extremely rewarding for Dad to see that happening.”

Unicover gives back to the community through projects like being a Gold Sponsor for the Britt hospital golf outing every year or contributing to the fire and police departments and Hancock County Fair. The plant also is designated a community command center in case of a rural disaster, according to Bakken, because Unicover can generate its own power.

“I credit a lot of our success to our employees,” he said. “We have an average of over 16 years per employee. We have loyal employees and try to treat them the same. I think that’s hard to find in any business of any size: longevity. It reflects in efficiency and quality of product.”

“IT’S THE SERVICE AFTER THE SALE THAT COUNTS”

RESIDENTIAL • COMMERCIAL & INDUSTRIAL ROOFING

641-423-0341

Toll Free 1-800-358-8009 125 N. Jackson Ave. Mason City, IA

SUPPORTING OUR

FUTURE IN LEADERSHIP NORTH IOWA

atulations CongrMIKE ROBERTS Process Engineer

700 25th St. NW, Mason City, IA 641-421-3400

GLOBE GAZETTE

IN BUSINESS • SUNDAY, DEC. 11, 2016 • J11

LEADERSHIP NORTH IOWA For more than 30 years, the Mason City Area Chamber of Commerce has provided leadership training for up-andcoming business people from the North Iowa area. In addition to skill development, Leadership North Iowa (LNI) participants meet well-established business leaders and have the opportunity to explore best practices and gain meaningful advice.

First and foremost, this program exposes participants to all North Iowa has to offer. At the same time, our goal is to engage Leadership North Iowa participants and alumni—to connect them to our community and to each other. LNI graduates are high-potential prospects who are well-poised to play a more prominent role in the community.

This can and does take many forms. For some, it may be the call to action to run for elective office. For others, participation may ignite the desire to seek an appointment to local government boards and commissions. It may provide the foundation to volunteer at a church or service club. It might even help people to assert themselves more in their place of work. Whichever direction our alumni choose to go, we know that Leadership North Iowa is often credited as the catalyst for becoming more actively involved in something they care about.

SERVANT LEADERSHIP IN ACTION

Lullaby Lane - Community Impact Project Members of the Mason City Chamber’s Leadership North Iowa class took on an ambitious community impact project this year: to construct “Lullaby Lane,” a memorial pathway in Lullaby Land at Elmwood Cemetery.

Lullaby Land is a designated section in the cemetery where children lost to miscarriages less than 20 weeks are laid to rest. LNI and Mercy Medical Center – North Iowa’s Fetal and Infant Loss Bereavement Committee partnered on this project as an effort to help those grieving the loss of a child. Parents who lose a child to miscarriage have the option of having their child’s name and date of loss engraved on a paver in the pathway.

LNI participants solicited donations, completed radio and television interviews to spread the word, and spent numerous hours constructing a plan and selecting a contractor for the project. Once on-site work began in September, class members assisted in the installation of the pavers. A dedication ceremony was held on October 15, National Pregnancy and Infant Loss Awareness Day. This project was made possible by many generous donors in the community who supported the efforts both monetarily and in-kind.

For those wanting to purchase an engraved paver to be installed in the pathway, please contact the Mercy Foundation at 641-428-7740.

J12 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

GLOBE GAZETTE

2016 LEADERSHIP NORTH IOWA CLASS Molly Angstman - Mid-America Publishing Employer: Mid-America Publishing - Full-service printing and publishing company which owns 22 community newspapers and several shoppers, headquartered in Hampton Position within Organization: Director of Digital Services Community Involvement: Mason City Jaycees, Barlow Family Foundation board member, and volunteer website administrator for 5 area non-profits

Jason Blickenderfer - Mid-West Roofing Company/Custom Sheet Metal Works Employer: Mid-West Roofing Company - Locally-owned, full service roofing contractor that specializes in industrial and commercial projects Position within Organization: Field Operations Manager Community Involvement: Nora Springs Lions Club, Director of youth baseball/softball for Nora Springs, Nora Springs Aquatic Center committee member, City of Nora Springs Board of Adjustments, Youth Wrestling Coach, Youth Baseball Coach, Iowa Roofing Contractors Association

Alex Crippin - Hearing Associates, P.C. Employer: Hearing Associates - Audiology practice that serves northern Iowa and southern Minnesota with ten locations, all within medical facilities. Conducts hearing tests, fits hearing aids, and performs balance and dizziness tests.

Position within Organization: Director of Operations Community Involvement: TUNE (Total United Northwood Effort) Board of Directors, Gideons, and Grace Church in Mason City

Adam Fichter - Hertz Farm Management, Inc. Employer: Hertz Farm Management - Company specializing in farmland asset management and personalized service to assist clients in meeting their farmland ownership and investment goals Position within Organization: Farm Manager Community Involvement: Mason City Noon Rotary Club, Mason City Chamber’s Agribusiness Committee, Member of Harvest Bible Chapel in Clear Lake

James Garduah - Cargill Kitchen Solutions Employer: Cargill Kitchen Solutions - Leading marketer of high value, further-processed egg products in the United States Position within Organization: Plant Superintendent

GLOBE GAZETTE

IN BUSINESS • SUNDAY, DEC. 11, 2016 • J13

2016 LEADERSHIP NORTH IOWA CLASS Sara Gienau - Kelly Services Employer: Kelly Services - Staffing agency assisting talent with resume building and mock interviews to improve interview skills and placing talent on assignment Position within Organization: District Manager Community Involvement: Community Kitchen of North Iowa and Mason City Chamber’s Events and Business Resource Committees

Karly Haralson - Cargill Kitchen Solutions Employer: Cargill Kitchen Solutions - Leading marketer of high value, further-processed egg products in the United States Position within Organization: Production Supervisor Community Involvement: Humane Society of North Iowa, Service Unit Recruiter for Girl Scouts of Greater Iowa, Community Kitchen of North Iowa

Scott Huffman - King Constrution & Overhead Door, Inc. Employer: King Construction & Overhead Door - Commercial and residential construction, as well as overhead garage door sales and service Position within Organization: Project Manager and Draftsman Community Involvement: Main Street Mason City Design Committee

Thom-Mac Johnson - Diamond Jo Casino - Worth Co. Employer: Diamond Jo Casino - Gaming and entertainment venue providing an opportunity to win in a safe, fun-filled environment upheld by high standards of integrity Position within Organization: Director of Surveillance Community Involvement: Habitat for Humanity

Morgan Katz - Hertz Farm Management, Inc. Employer: Hertz Farm Management - Company specializing in farmland asset management and personalized service to assist clients in meeting their farmland ownership and investment goals Position within Organization: Administrative Assistant Community Involvement: Faith Baptist Church in Mason City, member of the Franklin Chorale

J14 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

2016 LEADERSHIP NORTH IOWA CLASS Traci Koehn - CENT Credit Union Employer: CENT Credit Union - Not-for-profit financial cooperative with the philosophy of “people helping people” Position within Organization: Business Developer Community Involvement: Mason City Chamber Ambassadors, Mason City Chamber Events Committee, Cerro Gordo County Relay for Life, Clear Lake Christmas by the Lake Committee

Brandy Kozlowski - Diamond Jo Casino - Worth Co. Employer: Diamond Jo Casino - Gaming and entertainment venue providing an opportunity to win in a safe, fun-filled environment upheld by high standards of integrity Position within Organization: Director of Human Resources Community Involvement: Jaycees and the Northwood-Kensett School District’s Career and Technical Education committee

Devin Lawson - Sherwin-Williams Employer: Sherwin-Williams - Global leader in the manufacturing and sale of paints and coatings across all market segments Position within Organization: Sales Representative for Northeast Iowa Community Involvement: Mason City Jaycees and Mason City Chamber Ambassadors

Nicole Means - First Citizens Bank Employer: First Citizens Bank - Full-service bank providing sound financial solutions for the success of its customers and community Position within Organization: Image Technician - Loan Support Community Involvement: Business After Hours and bank functions

Jason Monarch - Mercy Medical Center - North Iowa Employer: Mercy Medical Center - North Iowa - Faith-based, not-for-profit community health care system that offers comprehensive health care services for people throughout northern Iowa and southern Minnesota Position within Organization: Executive Director of Strategy Community Involvement: New to the area and looking to get more involved, currently serving on the Northern Lights Alliance for the Homeless board

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GLOBE GAZETTE

IN BUSINESS • SUNDAY, DEC. 11, 2016 • J15

2016 LEADERSHIP NORTH IOWA CLASS Bryce Ogea - Heartland Asphalt, Inc. Employer: Heartland Asphalt - Full serivce asphalt construction company building quality hot mix asphalt pavements for state, county, municipal, commercial and private customers Position within Organization: Estimator/Project Manager Community Involvement: New to the area and looking to get more involved

Jesse Olson - POET Biorefining-Hanlontown Employer: POET Biorefining - One of the world’s largest producers of ethanol, also producing corn oil, wet cake, DDGs and syrup Position within Organization: Operator

Brad Paige - Bergland+Cram Architects Employer: Bergland + Cram Architects - Architecture and interior design firm that specializes in design for residential and commercial architecture Position within Organization: Intern Architect Community Involvement: iaWIA (Iowa Women in Architecture) mentor

Danielle Pommrehn - Holiday Inn Express & Suites - Mason City Employer: Holiday Inn Express & Suites - Modern hotel offering the best in amenities and service, as well as an outstanding staff with many years of experience in the hospitality industry Position within Organization: Assistant General Manager Community Involvement: Mason City Chamber’s Events Committee, sponsorships with NIACC, Alpha Media, and the North Iowa Bulls

Dr. Jonna Quinn - Mercy Medical Center - North Iowa Employer: Mercy Medical Center - North Iowa - Faith-based, not-for-profit community health care system that offers comprehensive health care services for people throughout northern Iowa and southern Minnesota.

Position within Organization: Obstetrician and Gynecologist Community Involvement: Bereavement committee of Mercy Medical Center - North Iowa

J16 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

2016 LEADERSHIP NORTH IOWA CLASS Jeff Reimers - NSB Bank Employer: NSB Bank - Locally-owned bank meeting the financial needs of customers, committed to providing a level of service second to none Position within Organization: Vice President, Ag and Commercial Lending Community Involvement: Rockwell Lions Club, Linn Grove Country Club board of directors, City of Rockwell Planning and Zoning Committee

Jamie Rice - First Citizens Bank Employer: First Citizens Bank - Full-service bank providing sound financial solutions for the success of its customers and community Position within Organization: Brokerage Assistant Community Involvement: Humane Society of North Iowa and Relay for Life

Mike Roberts - Lehigh Cement Company, LLC Employer: Lehigh Cement Company - Industrial scale mineral extraction and processing to make Portland Cement Position within Organization: Process Engineer Community Involvement: New to the area and looking to get more invovled

Paige Roney - NSB Bank Employer: NSB Bank - Locally-owned bank meeting the financial needs of customers, committed to providing a level of service second to none Position within Organization: Teller/New Account Representative Community Involvement: Looking to get more involved in the community

Matt Schul - Cargill Kitchen Solutions Employer: Cargill Kitchen Solutions - Leading marketer of high value, further-processed egg products in the United States Position within Organization: Operations Supervisor Community Involvement: Preparing and serving meals at Community Kitchen of North Iowa

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IN BUSINESS • SUNDAY, DEC. 11, 2016 • J17

2016 LEADERSHIP NORTH IOWA CLASS Amy Stambaugh - Wells Fargo Bank of Iowa Employer: Wells Fargo Bank of Iowa - Financial Institution with a top priority to help people achieve their financial goals in life Position within Organization: Service Manager Community Involvement: Northern Prairie Pheasants Forever, school fundraisers

Kimberly Thyne - Henkel Construction Co. Employer: Henkel Construction Co. - Construction company offering a full line of professional construction services delivering negotiated, design-build, general contracting, and construction management projects in many different markets Position within Organization: Purchasing Agent Community Involvement: Heavily involved in Rockwell church activities, religious education teacher, North Iowa Band Festival, Sheffield Philharmonics, West Fork school concessions

Natalie Witschorik - Ag Ventures Alliance Employer: Ag Ventures Alliance - Business development organization for value-added agricultural ventures Position within Organization: Business analyst and member relations coordinator Community Involvement: Crossfit Chiron, Patriots for Pets

THANK YOU TO THE LNI SPONSORS

Program Sponsors: Business Sponsors: Ag Ventures Alliance ▪ Bergland + Cram Architects ▪ Cargill Kitchen Solutions ▪ CENT Credit Union ▪ Clear Lake Bank & Trust Diamond Jo Casino - Worth Co. ▪ First Citizens Bank ▪ Hearing Associates, P.C. ▪ Heartland Asphalt, Inc. Henkel Construction Co. ▪ Hertz Farm Management, Inc. ▪ Holiday Inn Express and Suites - Mason City ▪ Kelly Services King Construction & Overhead Door, Inc. ▪ Lehigh Cement Company LLC ▪ Mercy Medical Center - North Iowa Mid-West Roofing Company/Custom SheetMetal Works ▪ NSB Bank ▪ POET Biorefining-Hanlontown Sherwin-Williams ▪ Wells Fargo Bank of Iowa

J18 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

GLOBE GAZETTE

2016-17 YIELD CLASS Since 2003, the Mason City Chamber of Commerce has provided leadership training for area youth. The YIELD program (Youth Investing Energy in Leadership Development) is an investment in our future citizens and leaders that will surely yield huge benefits for North Iowa. This program has become a model for youth leadership programs and has been replicated in other communities, including some in our region.

In Mason City, YIELD participation is limited to high school juniors from Mason City High School, Newman High School, and the Alternative School. These students are identified as good students and good citizens who are likely to emerge as future community leaders. Thank you to Principals Dan Long, Tony Adams, and Dave Ciccetti for their continued support, and to the program’s speakers and sponsors.

BUDDY BLANKETS PROJECT Mason Berg

Bryce Butler

Natalia Cadena

Jorge Castelan

George Conway

Andrew Deets

Lauren Dettmer

Samira Haberman

Derek Johnson

Kaylee Millard-Maulsby

Andrew Morse

Peyton Olson

Ben Pappas

Jack Phillips

Lucas Reidel

Sierra Stauter

Sarah Vaith

Sydney Vogelgesang

Amara Wolf

Payton Woodbury

This year’s YIELD class is constructing 120 fleece tie blankets to provide to youth in need, specifically those who may be away from their permanent homes in a youth shelter or in the foster care system.

THANK YOU TO THE YIELD SPONSORS

Ag Processing, Inc. ▪ Clear Lake Bank & Trust Co. ▪ Diamond Jo Casino - Worth Co. ▪ Dr. Judith G. Demro, P.C. Drs. Weber & Otto Family Dentistry ▪ Edwards-Brandt & Associates, Inc. ▪ Farmers State Bank ▪ First Citizens Bank Harley Davidson of Mason City ▪ Heartland Asphalt, Inc. ▪ Heiny, McManigal, Duffy, Stambaugh & Anderson PLC ▪ Henkel Construction Co. Hogan - Hansen, P.C. ▪ Hogan-Bremer-Moore Colonial Chapel ▪ Hy-Vee Drugstore ▪ Major Erickson Funeral Home & Crematory Mid-West Roofing Company/Custom SheetMetal Works ▪ North Iowa Eye Clinic, P.C. ▪ NSB Bank ▪ Overhead Door Company of Mason City POET Biorefining - Hanlontown ▪ Stoney Creek Hospitality Corporation ▪ The Nettleton Dental Group, PC ▪ Wells Fargo Bank of Iowa

GLOBE GAZETTE

IN BUSINESS • SUNDAY, DEC. 11, 2016 • J19

PROFESSOR

Once you’ve covered that ground, offer solutions.

Next, explain that you can offer even better pricGROWING YOUR BUSINESS Q: I have a health food ing if they sign up to have their nutritional supply store and am losing a lot of business to the internet replenished whenever it’s running low. Retaining and big box stores. I am getting very discouraged. loyal customers is a great way to drive sales withAny advice? out spending additional A: Brian Lawrence, a money on marketing. business consultant and Networking in another owner of marketing firm key to growing business.

LocalTrafficBuilder.com, Look to build strong relaoffers some excellent advice. Here’s what he had tionships with holistic and metaphysical practitioners to say: as well as chiropracThe first advantage tors and acupuncturists. is that you are a living, Networking is more than breathing entrepreneur. exchanging business You are not a facecards. Discuss opportuniless website or a salaties of co-branding and ried employee. how your products can Rather than simply taking customers’ orders, help give their patients support to their treatyou need to become a ments. Also, in your new guide who smartly leads approach to dialoguing customers through their more with your custompurchases. Nothing is ers, make direct recommore important to a permendations of the right son than his health. practitioner for treatment When someone visits when relevant. A great your store, engage them. platform for networking Ask them how they’re is LinkedIn. feeling. What are their You also cannot disgoals for their long-term health? Are they sleeping count strong marketing.

Marketing does not have to well? Do you they have be expensive to be expanenergy throughout the sive. Start with Google day? Do they have any and develop a full Google joint pain?

From J9

Plus profile, which is free and can give you tremendous exposure. Encourage customers to write reviews that talk about how service-oriented you are and how your products were solutions to their problems.

Lastly, posture yourself as an expert. Write original educational articles about different health-related topics and actively look for blogs and local media that will republish the items. If you feel confident enough

with your public speaking you’ll be sure to give your skills, seek out opportuni- small business the shot in ties to speak. For example, the arm it needs.

Bruce Freeman, an adjunct professor you could book a time at and co-author of “Birthing the Elephant” the local library and talk (Random House), is president of ProLine to seniors about mindCommunications. Readers may send him ful living. email at bruce@smallbusinessprofessor. com and follow him on Twitter (@smallbizBy following any or all of these recommendations, prof) and Facebook.

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IN BUSINESS • SUNDAY, DEC. 11, 2016 • J21

Minnesota boat industry sees tidal shift Buyers choosing simpler fishing boats, pontoons

motors that sit right on the transom.

At the same time, many millennials and Gen-Xers are avoiding boat buying altogether, and the high U.S. dollar has hurt some DEE DEPASS Star Tribune (TNS) boat sales in Canada.

The National Marine MINNEAPOLIS — Manufacturers AssoWhile the last few years enjoyed calm and growth, ciation, or NMMA, and Statistical Surveys Inc. choppiness is back in the said U.S. powerboat sales U.S. boating industry. fell 0.3 percent in October Minnesota, home to six but are up 4.4 percent boat factories, hasn’t year-to-date. Sales are been immune. normally up 5 percent.

The latest curve came In October, U.S. sales of with Larson Boat Group’s runabout and “bowrider” announcement that it is closing its factory in Min- pleasure boats plunged 15 percent, just as fishing nesota and moving 114 and water-skiing boats jobs to Wisconsin. The surged a respective 7 and consolidation is a punch 11 percent. for an industry thought “Runabouts have seen long recovered from the a steady decrease for five Great Recession and its years” and that contindays of chronic layoffs ues, said Carl Blackwell, and bankruptcies.

Boat makers in Minne- head of marketing for sota have different stories the NMMA. Larson felt that shift — some of triumph. keenly, despite diversifyThe makers of pontoon, ski/surf and alumi- ing its product line to num fishing boats — such include more popular fishing boats and ponas Alumacraft, Premier toons with its runabouts.

Pontoons, Crestliner Earlier this month, Larson and Lund, and Gekko announced it will shut its — report solid growth.

Little Falls, Minnesota, But makers of inboard factory in 2017 and move “runabout” pleasure operations to its sister boats such as Larson say plant in Pulaski, Wis. they have struggled with It is the blend of currency woes, shifting “adverse economic demand from younger and older customers, and dynamics and shifting changes within the weak sales of boats with marine market that inboard motors. require us to consolidate,” There are several facsaid Larson CEO Rob Partors fueling the changes.

Dealers said they notice mentier. “After months of boat buyers turning away analysis, financial review and personal agony we from runabout pleasure must close our Little Falls boats because they don’t operation and facility like the hard-to-access after more than 100 years motors. Those engines of boatbuilding accolades sit below deck and they carry an extra 200 to 300 and achievements.”

Joe Hausladen, parts pounds. Instead buymanager at Hannay’s ers are choosing simpler Marine dealership in fishing boats with fuelsuburban Minneapolis, efficient, lighter-weight

is concerned.

“We had a good year with Larson this year but are worried there may be some disruption with their move,” he said. “We have to adjust what we buy now because we don’t know how the move will affect the availability of product next year.”

Hausladen said Larson’s pontoons and fishing boats sold well this year, but he acknowledged the “demise of runabouts.”

Pontoons, he said, were all the rage at the Minneapolis Boat Show in January.

GLEN STUBBE, Star-Tribune “The pontoon area was Justin Meidl works on a Larson boat hull at the Larson Boat Group’s plant in Little Falls, enormous. ... It never used to be this heavy,” Minnesota, in 2013. The plant’s closing and consolidation in Wisconsin is a punch for an Hausladen said. industry thought long recovered in Minnesota.

PLEASE SEE BOATS, PAGE J26

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J22 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

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WHAT A TRUMP PRESIDENCY COULD MEAN FOR AGRICULTURE In an interview, Cargill CEO Dave MacLennan said he hoped Trump’s CHICAGO — Some pick for secretary of food industry titans agriculture would carry worry President-elect forward the same proDonald Trump’s tough trade policies of outgoing talk on trade could Secretary of Agriculture Tom Vilsack. eventu“Trade is good for ally hurt the world and good for business our economy. And in the in numerworld today, there’s not ous ways, a lot of warm and fuzzy including sentiment about ... open limiting MacLennan trade and open borders,” food and MacLennan said. “So agriculture exports. that’s probably an area Others in agriculture at the top of our list (of see Trump’s election concerns), how this new as an opportunity to administration impleimprove the viability of ments some of the antifamily farming.

In other words, antici- trade rhetoric we saw pation of Trump’s policy from both candidates.”

Cargill — a privately actions is prompting the same type of anxiety and held livestock processor and grain producer hope found elsewhere that’s headquartered in throughout the AmeriMinnesota and operates can economy.

GREG TROTTER

Chicago Tribune (TNS)

disagreements between political parties and nations. Quinn said he hoped the next agriculture secretary can carry that torch.

But he also acknowledged unknowns regarding Trump’s campaign promises to ease environmental regulations Mel Coleman on farmers.

“I think people are still going in one place,” Cole- going to be concerned see Trump Country, per in 70 countries — was a about water, and nitrate man said. staunch supporter of the se. Coleman, vice presirunoff is a big issue in More specifically, dent of strategic partners Trans-Pacific PartnerIowa. And the question for Perdue-owned Niman Coleman said he hopes ship, the 12-country the new secretary of agri- is, how do you work it trade pact that’s consid- Ranch, sees rejection of out?” Quinn said. “The culture will ease the tax the status quo. ered dead in the water (Environmental Protec“And so I think there’s burden on farmers and after Republican gains tion Agency) had a very reform the farm subsidy this window of opporin the Nov. 8 election. forward-leaning role, program to benefit more tunity we have. If I can Trump has vowed to smaller and environmen- maybe now that won’t be put it in agricultural withdraw from the trade quite the same way. But agreement, which hasn’t terms, we can narrow the tally minded operations.

Kenneth Quinn, presi- I think there will still be rows between what some yet been ratified. that focus. The environpeople call factory farm- dent of the Iowa-based When Mel Coleman mental issues, they can’t ing and small local farm- World Food Prize Founsees the large swaths of go away.” dation, said agriculture ing. We need to narrow the country that suphas long served to bridge ported Trump, he doesn’t that row and getting us

I think there’s this window of opportunity we have.

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IN BUSINESS • SUNDAY, DEC. 11, 2016 • J23

Why politicians can’t do much to bring back manual labor jobs repeated bashing of trade, and at the same time perceived Hillary Clinton Michael Smith is as a poster child for the not used to stretching a free-trade deals that her paycheck. As recently as husband signed and PresiMarch 2015, the 42-yeardent Barack Obama tried old was earning nearly to push through Congress. $100,000 a year as a dis“A lot of our members trict manager on oil fields equated NAFTA to Hillfor a company based in Union City, Pennsylvania. ary and Bill Clinton,” said Donnie Blatt, a coordinaThen oil prices dropped, tor with the United Steeland his company laid workers union in Ohio. “A him off. lot of our members felt like Smith, a father of four they hated Hillary Clinton. boys, now makes $12 an They believed she caused hour as an apprentice the loss of all their jobs.” electrician. He is not a But it will be almost die-hard disciple, but impossible for Trump to voted for Donald Trump because he’s desperate for fulfill his promise to bring back most of the assembly something new. line gigs lost to globaliza“Do I think Donald Trump is what this coun- tion, economists say. The try needs and do I think he U.S. has moved toward advanced manufacturing, will make it great again? which employs highly eduNo,” Smith said. “Do I cated people, and plants think he is a step in the that once required manual right direction? Absolabor are now manned by lutely.”

It was not poor Ameri- robots that work faster cans who made the differ- than people and cost less. ence in the election; it was U.S. factories are producpeople like Smith. Trump ing more than ever, with soared among white voters far fewer employees.

“The Democrats have who earn decent wages, no credibility with these but have seen their pay people, and the trade decline and jobs in their issue brings it out more industries disappear over than anything,” said Dean the last 15 years.

Baker, the co-director of Some of those workers the left-leaning Center say they were respondfor Economic and Policy ing in part to Trump’s NATALIE KITROEFF Los Angeles Times (TNS)

Research. “Trump is making these promises, but they aren’t realistic. It isn’t like he has a plan to bring the jobs back, but he was out there saying it.”

It’s not surprising that trade issues resonated with some voters in vast swaths of the Midwest and Southeast.

Since 2000, American manufacturers wiped 5 million people off their payrolls, according to the Bureau of Labor Statistics.

Millions of those jobs went to China or Mexico, research suggests.

For context, it took more than three decades for 560,000 mining jobs to disappear, after reaching a peak of 1.2 million the early 1980s.

The shock of losing so many middle-class jobs so quickly hit hardest in the Rust Belt states, which were crucial to Trump’s victory. Ohio, Michigan and Pennsylvania had among the steepest cuts in assembly line jobs across the country since 2000.

California cut the most manufacturing jobs of any state from 2000 to 2015, partly because its workforce is so huge. More than 576,000 Californians lost their jobs in factories over that period.

But the biggest losers after California were Ohio, Michigan, North Carolina and Pennsylvania, which hemorrhaged a combined 1.2 million manufacturing jobs. That means that about a quarter of the total manufacturing job loss in the country since 2000 occurred in those four swing states.

Ohio and Pennsylvania voted for a Republican for the first time since at least 2004.

The counties in those states where Clinton lost the largest number of voters compared with Obama in 2012 were also the counties that lost particularly large numbers of manufacturing jobs over the last 15 years, according to Bureau of Labor Statistics data.

How much of the shift took place because of trade is hard to tell: The job losses mostly took place during the first decade of this century, but the states did not flip to vote for a Republican until this year.

And other issues were in play, including tensions over immigration, race and the presence of a woman on the Democratic ticket.

Still, trade and its impact on manufacturing jobs almost certainly played a role in boosting

Trump’s prospects in the nation’s industrial belt.

“The real ones who are hurt (by trade) are centered, not coincidentally, in the swing states in this election,” said Peter Navarro, an economist from the University of California at Irvine who has been a powerful voice on Trump’s economic advisory board.

“You go around the rim of the Midwest ... those are the key states that have been ground zero of this problem,” Navarro said.

These workers were not necessarily scraping by — the average American with a factory gig made around $64,000 in 2015, BLS data show. But in Ohio, Michigan and Pennsylvania, pay for manufacturing employees has declined or remained relatively flat since 2000, after adjusting for inflation, even as it inched up in the country overall.

Ryan Germonto said that when he hears politicians talk dreamily about the economy today, he feels betrayed.

“Even if the progressives want to say we are progressing, we aren’t really progressing,” Germonto said.

The 32-year-old

father of two used to make $55,000 inspecting gearboxes used in wind turbines for Eickhoff Wind Energy, in Pittsburgh.

But the company stopped making the gear boxes in the U.S., and Germonto was laid off in November 2015.

Now he’s working at a job that barely pays his bills. He makes $40,000 per year as a site manager overseeing the housekeeping staff at an upscale mall in Pittsburgh. He pays $800 a month for health care coverage that cost him less than $250 at his old job.

“I’m sick of outsourcing jobs. I’m sick of the government taking the easy way out,” Germonto said. He voted for Trump because he believes that the real estate mogul is “more for the people.”

Economists say people like Germonto were already in trouble. Automation has been steadily decimating assembly line jobs, and as new plants come back to the U.S. they are increasingly staffed by robots.

But trade has also damaged American factories, something workers noticed long before academics measured it.

RUSTIC From J3 when she took the John Pappajohn Entrepreneurial class at North Iowa Area Community College in Mason City.

“You know you need (insurance)”, she said. “You don’t know why. Until I owned a building, it wasn’t something I really thought about.”

The Pappajohn class reinforced not only the need for insurance but also provided more information about the types of insurance

and the need to keep on top of changes in the insurance industry.

She carries insurance for her building, workman’s compensation for her employees, liability insurance, business property insurance and event insurance to cover special events Vetter may schedule at her store.

She also has an inland marine policy to cover property in transit, certain types of movable property such as laptop computers

and iPads.

Vetter estimates she spends about $400 a month on commercial insurance, which is a major overhead expense.

“It’s equal to or more than my utility bill,” she said.

She has learned from experience that whenever her store inventory increases, she has to make sure she’s covered for that. She has also been surprised occasionally at changes that were

made in her premium or coverage that she hadn’t been expecting.

“There just has to be more information shared (between agent and client),” she said.

Experience has taught her she needed to take a more active role in keeping in touch with her agent and making sure they are on top of things.

“As a business owner, you need to take responsibility and you need to educate yourself,”

Vetter said.

“You really need to keep on top of it and not assume your insurance agent is taking care of it,” Vetter said. “I think you need to stay educated about changes in the law, taking seminars and talking to other insurance agents.

I don’t want to spend years of my life looking for insurance, but I think what I’ve learned is you should re-evaluate it every other year.”

J24 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

GLOBE GAZETTE

Bogle’s savings philosophy remains relevant something that doesn’t percent earnings growth, vary the benefits widely. have the company put in going forward. That’s That’s why we have this too much money, otherthe reality. I could be two-class society: the wise that lowers earnings. wrong easily!

1 percent and the 99 “In my book ‘The Clash “I divide market returns percent. The disparity in of the Cultures,’ I show into two components: income is deeply regretthat corporations mostly dividends and earnings table. I don’t know what growth. If dividend yields use a 7.5 percent return we do about it exactly.”

ERIN ARVEDLUND Philadelphia Inquirer (TNS) assumption. But today, average 2 percent today The 2008 financial stocks yield 2 percent and and earnings growth 4 crisis is responsible for PHILADELPHIA — bonds yield 2 percent, percent, that’s a 6 pertoday’s low interest rates, John Clifton Bogle works as well. cent investment return. which “enriched the 1 in a sunny office lined “Where are they getting percent, and the aftermath So that’s it. That’s what with books, piles of the rest? They put money corporate America will ... has hurt 75 percent of newspapers and research, in hedge funds and private give us.”

Americans who save. We paintings of Napoleon’s equity, and assume both A mutual fund com(at Vanguard) brought battles, and Frederic Remof those give 20 percent out a money-market fund pany has a huge cost ington cowboy sculptures. advantage, he said. “If the return. Is there anyone back in 1980 that yielded At 87, he has slowed down 15 percent back then on an market produces 6 percent who thinks that’s going only a little. a year, you get 5.95 percent to happen?” annualized basis. Today, “I used to work from States use the same that’s around 0.2 percent.” after fees from an index 6 a.m. to 6 p.m., but I fund, and 4 percent, minus kind of assumptions, he “I wonder how Middle don’t do that anymore,” 2 percent fees, if you’re an said, “funding pensions America and Main Street said Bogle, who was ready active manager. It doesn’t from a tax base that would are getting by at all. It’s to greet a reporter at mean managers are stupid, have to increase contribu9 a.m. sharp at Vanguard DAVID SWANSON abnormal to have (rates) at tions.” they’re just average. these levels.” headquarters in suburban Former Vanguard CEO John Bogle.

“Taxpayers likely vote “We’ve been in a While interest rates Philadelphia. against that. So states are have been abnormally low, remarkable period, a bull raising the tax on both but totally simple, ideas, The inventor of the facing lower returns and market of 40 years. It employers and employees; stock returns have been which together have paid index fund is retired greater longevity. And the doesn’t go on forever.” second, by raising the tax- abnormally high. When off. One is structure, from actively running the payments are protected Pensions forecast able wage base, to perhaps asked whether that could investment-management the mutual structure of continue, Bogle noted that returns of 7 percent a year, often by constitutions.” $150,000 or more; and company he founded four Vanguard; the other is Private-retirement decades ago, but he heads the overall index strategy. third, obviously, by raising “the average return for the but Bogle said they won’t S&P has been 9.5 percent. be that high in the future. assets (IRAs, 401(k)s, the retirement age, with Everything depends on the Bogle Financial Mar403(b)s) represent just $8 “Corporate pensions some exceptions for those That’s the average for cost in an index fund. kets Research Center on total about $3.5 trillion out trillion out of $24 trillion 25 years.” who do manual labor.

The only way you can Vanguard’s campus. in retirement savings. of $24 trillion in retire“Today, I’m saying “It’s amazingly easy. All deliver the cost is run a Still hard at work, too, ment savings. Corporate maybe 6 percent: 2 perthat’s needed is political is his philosophy that few mutual company.”

PLEASE SEE BOGLE, cent from dividends and 4 plans have to assume Average expenses for an will,” he said. active money managers PAGE J26 “Social Security passed can beat the stock market, actively managed mutual in the 1930s. People were and that low fees make the fund run to about 2 perdying much earlier, and yet cent annually. Investors difference over the long that 65-year age has still term. This year, Vanguard can avoid that by using low-cost index funds _ an stood. Today, the service is approaching $4 trillion economy in America is far idea Bogle proselytizes as in assets, with $1 billion a bigger, and people like me often as he can. day in new inflows. sit on our hindquarters all He spoke recently at That puts it well ahead of Boston rival Fidelity and the studios of Philadelphia day. Those three things you could do that would WHYY radio station in just behind BlackRock, not affect a lot of people.” prompting an envious Wall conjunction with a new Director of Human Resources Bogle understands that PBS documentary on the Street firm to dub indexif 40 percent of Americans savings crisis in America, ing a form of socialism. have no savings, “you “When I’m 65,” which As of Sept. 30, Vanaired nationally in Novem- can’t force people to save guard managed more than $3.8 trillion in global ber. “When I’m 65” exam- when they have to eat.

Director of Sur veillance They have to survive on ines Americans’ shortfall assets, offering more Social Security.” in savings, and new ways than 350 funds to more “Capitalism is a superb of living and working in than 20 million invesway of running an econretirement. tors worldwide. omy. But it also unfortuBogle suggests fixing Indexing, Bogle said, 777 Diamond Jo Lane, Northwood, IA | DiamondJo.com nately has a tendency to Social Security: first, by combines “two great,

Inventor of the index fund still hard at work

CONGRATULATIONS TO OUR GRADUATES OF LEADERSHIP NORTH IOWA!

BRANDY KOZLOWSKI

THOM-MAC JOHNSON

GLOBE GAZETTE

IN BUSINESS • SUNDAY, DEC. 11, 2016 • J25

Amazon’s commander of the Cloud shares his vision ANGEL GONZALEZ

The Seattle Times (TNS)

SEATTLE — Andy Jassy, a 19-year Amazon veteran, is arguably the most powerful man in the cloud.

He heads Amazon Web Services, the cloud-computing division that drives much of Amazon.com’s profitability and that dwarfs most competitors, including ventures by crosstown rival Microsoft and search giant Google.

Amazon CEO Jeff Bezos, who calls AWS a “pillar,” earlier this year upgraded Jassy’s title to division CEO. In an interview, Jassy said that AWS could one day evolve to become an even bigger business for Seattle-based Amazon than e-commerce because it’s addressing markets potentially worth “trillions of dollars worldwide.” But a spinoff is unlikely because there’s “no compelling reason” to do so, the executive said.

Jassy’s comments come before re: Invent, AWS’ annual mammoth Las Vegas conference held earlier this month.

More than 32,000 attended, reflecting, in Jassy’s words, the growing “movement” of builders embracing the possibilities of the cloud. “It is palpable when you’re there,” he says.

Here’s an edited excerpt of the conversation.

Q: AWS has evolved into a $12 billion business in a decade. Why did it grow so quickly so fast? Was that growth a surprise?

A: I don’t think any of us had the audacity to predict it would grow to be that big when we were starting it.

Before, companies and

About Andy Jassy TITLE: CEO, Amazon Web Services AGE: 48 EDUCATION: Bachelor’s degree and an MBA from Harvard BACK STORY: Part of Amazon.com’s senior executive team since 2002. Joined the company in 1997. Conceived the company’s entry into the music business, was director of marketing, served as technical assistant to CEO Jeff Bezos, and in 2006 launched AWS, the largest computing cloud business in the world. offerings and the platforms are in very different spots today.

AWS has a lot more capability and functionalAMAZON PHOTO ity than anybody else by a large margin, and is also Amazon’s Andy Jassy is arguably the most powerful man in the cloud. iterating at a faster clip another area of significant than anybody else. We centers) in practically startups had to lay up have an impression we investment for us. every Tier 1 country and all this capital for data Q: What are the biggest use internally: There’s no a lot of developing councenters and servers, and bottlenecks you’re seeing? compression algorithm for take your scarce resource, tries as well. experience.

A: There are only 24 We have a machinewhich in most companies Q: What are your hours in the day. There is learning service that we is engineers, and have launched about a year and so much that we’re doing thoughts on “moving up them work on the undifthe stack” (offering clisimultaneously. We’re a half ago, and there are ferentiated heavy lifting ents more sophisticated going to launch 1,000 a lot of artificial intelof infrastructure. significant services or fea- applications beyond ligence (AI) machineWhat the cloud has storage and computtures this year. done is completely flipped learning capabilities ing power)?

We are hiring so many coming. We have a large that model on its head so A: You’ll increasingly that you only pay for what number of people working people all over the world see us build services a and we have a very high you consume. You’re able in AI. little bit further up the hiring bar. We’re not If you look around to get work done so much stack. The ones we choose homes and the workplace, willing to compromise faster than ever before. to add are the ones our there are all these sensors in order to make sure we Startups and smaller customers tell us they’d have the right quality of in many devices. This is companies got that folks. That always takes a like us to build. what people commonly revolution started, but The vast majority of call the Internet of Things. fair quality of focus and we always expected large applications that are really work from the team.

These sensors have a enterprises and governQ: How do you see the having success in the marsmall amount of (computment agencies to be very ket today are run by AWS competition? Who keeps ing power) and memory. large AWS companies, partners. We have a very you up at night?

Which means the cloud because they have very large ecosystem of partProbably the single becomes disproportionlarge amounts of infraners that cover the gauntately important to supple- biggest surprise is just structure to spend. how long it took for other let of applications that our Q: Where is AWS now? ment their capabilities. customers love using. large technology compaMost of the big IoT cases Where is it going next?

Q: Will AWS become nies to build an offering today are built on top A: We have a pretty the largest business here. I don’t think any of of AWS. significant market-leadus believed, in our wildest within Amazon?

We are at the start of ership position, and we’re A: If it came to pass, what we think is possible. dreams, that we would not close to being done have a six-year head start. it would likely take time. delivering capabilities for Over time, many enterIt’s not a surprise to us But I do think it’s possible prises are going to think our customers. that in the fullness of time that every large technolabout their own infraWe have a very broad AWS could be the largest ogy company is trying structure as servers and geographic footprint, but business in Amazon. also as devices they use to to build an offering like we’re not close to being Part of that is because, AWS’ because it’s such a collect data, do analytics done. Over time we can if you look at the market good value proposition expect we’ll have an AWS and take action back on segments AWS addresses for customers. But the “region” (a cluster of data these devices. So that’s

— infrastructure software, hardware, data center services, plus some capability to build further up stack as well — that’s trillions of dollars worldwide.

It’s a very large opportunity and we’re very optimistic about where AWS will be in the long term.

Q: Could AWS operate as a company separate from Amazon?

A: AWS has always functioned as an independent, separable business distinct from (Amazon’s retail unit): a different customer base, a different leadership team. Amazon, the retailer, is a really important customer of AWS’, but they’re really one of several, very important customers.

One of the reasons why Netflix, (which) competes so aggressively with Amazon the retailer, is all in on top of AWS is because Netflix knows and has seen that they’re every bit as important to AWS as Amazon the retailer is.

I’ll never say never about anything, I’ve learned that in my time here. But I don’t anticipate that we’ll spin AWS out largely because there’s no compelling reason to do so.

Amazon has been so generous and so gracious in funding AWS for whatever investment needs required that there is really no compelling reason to do so.

J26 • SUNDAY, DEC. 11, 2016 • IN BUSINESS

MERCY

BOATS

From J5 alphanumeric diagnosis and procedure codes to communicate critical information about medical conditions and treatments. Coders translate medical terminology into a standardized format, allowing information to be transmitted accurately and efficiently between health care providers and insurance payors.

“They’re in very high demand,” Grell said.

Most of Mercy’s medical coding specialists tend to be older. Some have been with Mercy 40 years.

They live as far away as North Carolina and Michigan. Others live in North Iowa.

Mercy-North Iowa has been allowing its coding employees to work from home for 10 years, Grell said. The decision was market-driven due to the fact that these skilled employees are in very high demand.

“The technology is there now to make this possible,” Grell said.

The at-home employees clock in as do other employees. There are core hours they must be on the clock working.

Mercy also conducts frequent quality audits “so we have a feel for what they’re doing,” Grell said.

A conference call is held each day to connect with the entire coding team.

This is a time for working through problems.

All are able to view and discuss documents shown

by Grell on their computer monitors.

Mercy furnishes its athome coding employees working from home with computers and associated hardware, desks, chairs and hard-copy resources, such as books and reference materials.

“We like to provide

GLOBE GAZETTE

From J21 desks and adjustable monitors to make them ergonomically safe,” Grell said.

The at-home workspaces are checked out in person by Mercy personnel to make sure they conform to a certain standard. Employees at home must also send a photo of their workspace so Grell can make sure they are adequate.

Employees with children must hire child care as if they were in the office.

The at-home employees must be able to troubleshoot their computers at home if their internet goes down. They receive some training on troubleshooting prior to starting the job at home.

Employees are also responsible for providing their own internet service and a phone line for their home office.

Work-from-home employees are also required to get a flu shot, a requirement for all Mercy employees.

“We also remind them they need to get up and take a break from time to time,” Grell said.

Working from home is not without its disadvantages, Grell said.

“There can be a lack of camaraderie since they don’t see each other,” she said. “Orientation has been a challenge. It’s more difficult to manage if you’ve got some at home and some on site.”

But overall, the advantages outweigh the disadvantages.

“We benefit from higher employee satisfaction and retention, ability to recruit skilled employees from outside Mercy’s immediate geographical area and the ability to compete with coding outsource firms,” Grell said.

Matthew Vetzner, vice president of marketing for Larson, said he’s noticed the shifts in boat buying.

“Our traditional runabout buyers are getting older and opting instead for pontoons as they age. At the same time, younger generations are not buying boats like they used to. So the volume of buyers is not being replaced, Vetzner said.

“The challenge in the boating industry is finding younger new buyers.”

Larson’s news comes just as Minnesota’s boat-making industry seemed to have recovered from 2009, a time when discretionary spending plummeted.

Larson once had 800 employees and used to be part of Genmar Holdings Inc., the world’s secondlargest boat maker with 13 brands and 1,000 dealers. But employment

dropped to 200 by 2009, the year parent firm Genmar filed for Chapter 11 bankruptcy with $216 million in debts and $237 million in assets.

In 2010, Larson was sold to Minnesota businessman and Genmar founder Irwin Jacobs and his partner with the help of state and city loans.

Today, Larson’s Minnesota employment is down to 114. Company leaders hope the move to Wisconsin will be the last big change.

Larson’s departure is the second big hit to the city of Little Falls.

In 2010, Illinois-based Brunswick Corp. moved its Crestliner boat factory from Little Falls to New York Mills, a city about 60 miles northwest, where it already made Lund aluminum fishing boats. Scores of employees were left without jobs.

But the consolidation

BOGLE From J24 “People are totally unaware of the value of starting early,” Bogle said.

“When you start at 25, you start saving $5,000 a year, it makes a huge difference due to compounding. You can capture the market return with an index fund.

It sounds commercial, but I don’t think it is. I have no interest in this place getting any bigger. Isn’t $3.8 trillion enough?”

In a wide-ranging conversation, Bogle answered questions about how he paid for college: “I had a scholarship to Princeton, and I worked 40 hours a week, selling tickets at football season and as a waiter for a year or so.

I didn’t have any debt

when I got through college. I worked vacations, I worked all the time.”

And about his personal savings and investments now, including with John C. Bogle Jr., who works in finance: “Yes, my older son founded Bogle Investment Management. He’s assiduous. He has 100 longs and 100 shorts, so he runs a true ‘hedged’ fund.

“If he has one long auto stock, he has one short. He’s been able to deliver returns averaging 6 percent annually. It’s all algorithms. ... I invested a small amount in his smallgap growth mutual fund when he got started, as a show of confidence. He’s done very well.”

saved Brunswick thousands of dollars and helped it endure the brutal recession.

Today, Brunswick’s boat division is growing, despite weak sales of large onboard boats and a “challenging” international marine market, Brunswick CEO Mark Schwabero told analysts.

Third-quarter boat sales increased 13 percent to $307 million. Brunswick owns 15 boat brands, including the Crestliner and Lund boats made in New York Mills in northwest Minnesota.

Alumacraft, which has 175 workers making aluminum fishing boats in suburban Minneapolis, also is “doing very well.”

“We are pretty stable and probably pretty lucky, too,” said manufacturing vice president Tom Beckius.

Alumacraft’s niche — small, affordable fishing

boats — helped it evade problems seen by peers, especially in Canada.

“In the last five years, our business has probably quadrupled in Canada.

We added some really strong dealers out there,” Beckius said.

Alumacraft prides itself in making pontoons and basic fishing boats where the motor sits on the transom and not below deck. Seats are simple vinyl. Some models can be had for as little as $1,000 (as opposed to its one specialty product worth tens of thousands).

“We are more geared toward basic fishing and so we have attractive pricing. We are a good value and so we have had pretty substantial growth in Canada even though the exchange rate is not good,” Beckius said.

“When you get into the pleasure boats, they run you more money.”

SUPPORTING LEADERSHIP NORTH IOWA

C O NG R

ATULATIONS

TO OUR GRADUATE BRYCE OGEA

2601 S Federal Ave. • Mason City 641-424-1733 • www.heartlandasphalt.com

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IN BUSINESS • SUNDAY, DEC. 11, 2016 • J27

Giving the gift of financial well-being at the holidays Some consumers are buying added financial security for their loved ones this holiday season SARAH SKIDMORE SELL AP Personal Finance Writer

Instead of the latest toy or gadget, some people are trying to give their loved ones more financial security this holiday season.

While it’s long been possible to hand out cash, buy stock or contribute to college savings plans, financial institutions and retailers are making it easier to bestow a gift with lasting value.

Among them is Stockpile, a company that sells gift cards that can be redeemed for stock, which is rolling its products out to more than 14,000 stores this holiday season after seeing success at other retailers. College savings plan administrators, which see contributions peak at the holidays, have been adding new ways to donate. And Gift of College, which helps people to contribute to college savings plans or pay down student loans, began selling gift cards at Toys R Us and Babies R Us nationally this month.

“It’s easy to do and you don’t have to worry about a toy breaking, you don’t have to worry about batteries and you don’t have to worry about the latest trend,” said Young Boozer, chairman of the College Savings Plans Network.

Financial gifts can be tricky, though — givers need to be aware of the tax and social implications.

Ann Coulsen, an assistant professor at Kansas State’s Institute of Personal Financial Planning, called such gifts a “wonderful and practical idea.”

But a recipient who wants

something “now” might not appreciate it, she said.

It may take some explanation of how stocks or savings plans work. And if money causes resentment within a family, it may not be worth it.

Here’s a look at the ins and outs of some popular financial gifts: CASH Cash is easy to get and easy to give, but it doesn’t build value the way other options do. And for a large gift, be aware of the tax rules.

Giving a small amount of money each year is a common estate planning tool, but gifts from one person to another are capped by the IRS at $14,000 a year. Anything above that needs to be reported by the giver on their taxes and is subject to gift and estate taxes.

You may want to consider taking that cash and putting it in IRA, mutual fund or other longer-term investment.

COLLEGE SAVINGS A popular suggestion by financial planners for gifts to young children is contributing to a college savings plan.

“Grandparents, for the love of Santa, ask your kids if they have a 529 account set up for your grandchildren,” said Kristin Sullivan, a financial planner in Denver. “If yes, offer to put some money into that and put something small under the tree for the kiddos. If no, offer to set one up with some small seed money.”

529 college savings

plans grow tax-free, and withdrawals for educational expenses are also untaxed. The giver may get a tax break as well. Thirtyfour states and the District of Columbia offer either a state income tax deduction or tax credits for those contributions. And nearly all plans allow contributions online or by check, said Boozer.

Craig Larson, of Apple Valley, Minnesota, welcomed his first grandchild a few months ago and is planning to open a college savings account for her this Christmas.

“I’ve already spoiled this poor little girl to death,” he said. “This is something tangible that is The Associated Press not going to end up under the bed or lost at the Toys R Us employee Davy Pen holds a Gift of College gift card in the store in Emeryville, beach, and she’ll be able to California. Gift of College helps people to contribute to college savings plans or pay down see it growing.” student loans, and began selling as gift cards at Toys R Us and Babies R Us in November.

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