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.features ... . ... ... . ...... ..... ... .. .. . .. .. ... . .. . ~
• • •
2 8cover story nerves of stee
• •
Once a local puNerhouse, So the1r Ertgin=.::ri1§ rad gene bankrupt. Fer tre past six yecrs, C13rles Sa .eh r3s bee restoring l t1e hard way: o1e Empl·) yee, Olle sur-plier crd
•
one custo11er at a time .
• •
22
• • •
crossing the digital divide Pioneers in the new e-business world are
• • • •
challenging established "brick and mortar" enterprises to change their business models. Slow and stead~
may not win this race, and increasingly, tradi-
: onal businesses are turning to a new breed of lntHnet-savvy consultants to help them compete .
•
14
• • • • • • •
a capital idea Julie Garella and Michelle
• • •
• •
4
targeting women when
from the editor
6
biz digest
9
they launched Carnegie Capita _Advisors three years ago. But they soon develc ped a passion for educating women about six "s)41dromes" why women don't invest.
34
no small achievement
- here is a girl whose in ovative ideas could revo lutionize the banking
regional biz: cabarni S s t rik.;!, gold After onl::- t}-_e :irst quarter, Caba:rus c::;.J unty already its best yt:arfcr ~anding bLsinesses. guest column:
11 13
21.
voi ces a 'l d choi ces
Why busme;sE~ should care about~ env!ror:ment. by Betty Chr-JM Rash
expert op"nion:
click or die! wit~ dale tw~e ::-/
Why tradition3... businesses S:lcould ad::>pt the I or risk becoming obsolete.
38
t~:
indLstry as we now know it. There is a child whose C3ncer research work might one day save lives . These are the dreams of young people involved in a local program called Junior Achievement.
36
• • • • • • •
publisher' s post
Maid! didn't plan on
their personal finances. Now they have identified
• • • • •
d
like television, only different In an office park in northwest Charlotte, Doug Hawthorn and his partners are developing one of the more popular sites on the Internet. It's broadband. tt's streaming video . It's the "Beverly Hillbillies" on your local PC. It's LikeTelevision.com
greater charlotte biz
professional perks:
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44
on the cover: This mon tri s :wer r6lltu;-es Crar.es ~ lilleh at Southern Ergmllering's headcw:-rters ua Wilkir.s Jn B e _/tward. Photo by VV~ )'?~t Manis .
cllaflotte t he magazile
mr : le successful bJSillESS ex~ut ve
VWNVI .gr=o..-charlott! bi: .can
june :: JOO
3
[publisher's
cliaflotte
IZ
Volume 1 • Issue :; Publisher John Paul Galles es@greatercharlottebi ~. c mo
Associate Publisher Maryl A. Lane na ryl.ii.la ne@greatercha rlott ~ biz..< o 11
Editor Timothy). Parolini tparc lini@greatercharlotteliz.c: 11
Account Executives Talbert Gray tgray@greatercharlottebiz..colll Breon Klopp bklapp@greatercharlottebi"l:.cc -.
Contributing Writers Bonni Herndon Casey jacobus Sharon Kearns Heath Hardage Lee Bea Quirk Nethea Fortney Rhineh crdt
Contributing Photographer Wayne Morris
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4
ju ne 2000
• • • • • • • • • •
1s it a lot to ask?
June 2000
jgal
post]
My father worked at Bethlehem Steel in Bums Harbor, Indiana. My mother taught business education at the one and only high school in Michigan City, Indi ana. They were quite emphatic that l stay focused on school and college and get my "degree" before testing the job market. They made it clear that school was first, but it was also up to me to earn my own spending money. Their commitment and dedication to work and our family gave me a real appreciation for education, work eth ic and fami ly values. When they encouraged me to get a job in my junior year in high school, my journalism teacher told me about a local advertiser looking for an assistant to help create fliers and menus for area restaurants and advertisements for our daily newspaper. He would often give me the keys to his car to disuibute the ads and to also pick up his kids and deliver them home at the end of their school day. During my senior year in high school, I landed a position as a teller at the local bank and as a relief teller at several of its branches. It was a neat opportunity to meet people and sock away a few dollars away for college. I even remember purchasing my first stock in that bank from my earnings. In each position, l was entrusted with a large amount of responsibility at a relatively young age and expected to execute my duties efficiently and effectively. While l attended Indiana University, I spent each summer working at Bethlehem Steel's plate mill that was state of the art at the time. Working a swing shift, I had the opportunity to see all sides of the operation from the slab to the finished piece. When work was slow, l really enjoyed walking along the catwalk high up over the production line and watching slabs being rolled back and forth through huge steel rollers that would press the slabs to the correct size before being uimmed and finished for the customer. Watching hundreds of workers contribute to a finished product was an amazing experience. It was a great education and a terrific summer job, but l was always happy to go back to school in the fall. Manufacturing that has remained in the U.S. has really changed since then, utilizing fewer workers, more technology and improved efficiencies to compete in the world marketplace. As the base of our present day economy transforms itself from manufacturing and services to information technology and telecommunications, the nature of individual responsibilities and obligations is changing as well. Alan Greenspan continues to apply the brakes on invesunents and inflationary pressures and unemployment has fallen to its lowest level in forty years. In this day and age when companies cannot find workers, they are now competing against each other in bidding wars over the available talent. The availability of quality talent and uained employees is diminishing, and raising interest rates actually contributes to raising the intensity of the competition for the available workforce. Most employers are struggling to keep up with the pace of change. They work hard to gather employees into their firms who are productive, loyal, dedicated, committed and trustworthy. Today, that appears to be a lot to ask from employees. We are spoiled by our successes and our lengthy period of economic growth. Training and development of our existing workforce should improve productivity and performance. Without more workers, we will also need greater discipline, direction and flexibility. Individually and collectively, we need to maintain our standards and reclaim our work ethic, our commiunent to education and our dedication to families to keep this country on course with the rapid pace of change. john Paul Galles, jgalles@greatercharlottebiz.com Phone: 704.676.5850 Fax: 704 .676.5853
greater charlotte biz
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CORPORATE OFFICE 4529 Sharon Road Charlotte, NC 28211 (704) 366-5548
[from the
editor]
• • • • • • • • • •
it's not easy being green
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june 2000
You may not know this, but Charlotte ranks as one of the ten most dangerous cities in the nation . For pedestrians. According to AAA Carolinas, 30 pedestrians have been killed in Charlotte-Mecklenburg over the last two years and another four lost their lives during the first quarter of this year. The city of Charlotte has launched a pedestrian safety awareness campaign to help reduce this tragic figure. The campaign includes billboards, cable television and radio ads, posters and brochures. A sample reads "It won't kill yo u to look before yo u cross the street." Keeping pedestrians alive long enough to cross the street another day is a noble idea, and if the campaign saves even one life, it's worth the expense. But the issues that have helped create this problem are more complex and not so easily solved. To say that Charlotte is not a pedestrian- or bicyclist-friendly town is an understatement. When we want to go somewhere, we don't walk and we don't ride. We drive. It's not an inherently bad way to live, but it does have some potentially damaging side effects, like sprawl, pollution, congestion and a propensity for running into people. Charlotte is a great place to live and work, and we make a big deal about our "quality of life" and its importance in attracting and retaining businesses. Compared to comparably sized cities, though, we have very little pedestrian-friendly street level development, and we lack adequate green space where people can walk, enjoy a bit of nature and get run over by a bicycle at worst. Unfortunately, these are increasingly the kinds of things companies consider when deciding where to locate. With the birth of an electronically-driven global economy, businesses can put their operations just about anywhere in the world. Traditional factors such as location, infrastructure and tax incentives still play a huge role, but companies are placing a greater emphasis on choosing an area that has the amenities, or quality of life, they find desirable. With US Airways recently offering nonstop service from Charlotte to Paris and Frankfurt, area leaders hope this will not only expand local companies' international efforts but also help attract new French, German and other European businesses to the Charlotte area. We can learn a few things from our European counterparts about green space and pedestrian-friendly towns. I recently took a quick trip to Europe, and what's always striking there is the pedestrian-friendly nature and amount of "green" public spaces of so many ci ties. In Eindhoven, for example, there is a separate lane for cars, pedestrians and bicyclists, each with its own traffic signals. In Dusseldorf, eighty-five percent of which was destroyed by Allied bombing in World War II, the city has been rebuilt to maintain its old world charm and sophistication. It's a shopping and cultural center that has an active nightlife filled with restaurants and many a bierhaus along the Rhine river. In both cases, the cities already had the built-in population density and the lifestyle to make them successful. Changing downtown Charlotte from what is essentially a large office park to a vibrant center city where people want to congregate won't be easy. The first step is for the city to change its tax policy that encourages the razing of old buildings and the raising of surface parking lots while property owners wait for the land to appreciate. The second is to make a public commitment to developing quality public spaces that encourage pedestrian traffic. It's not simply a question of the environment, it's good business. And if we hope to continue to lure businesses here especially foreign businesses - it's essential. Tim Parolini tparolini@greatercharlottebiz.com
greater charlotte biz
We
At Robinson, Bradshaw & Hinson, we go to considerable lengths to maintain a client-focused, results-oriented law firm. The strength of our firm lies in the quality of lawyers who have joined us - lawyers with practical problem-solving skills and the experience necessary to meet our clients' real world challenges. We recognize the importance of properly utilizing our team of experts to achieve the most effective solutions for our clients' legal needs. Robinson, Bradshaw & Hinson - a tradition of excellence.
Robinson
Bradshaw &Hinson
NORTH CAROLINA OFFICE
SOUTH CAROLINA OFFICE
101 North Tryon Street Suite 1900 Charlotte, NC 28246 704.3 77 .2536
The Guardian Building 22 3 East Main Street - Suite 600 Post Office Drawer 12070 Rock Hill, SC 29731 803.325.2900
A Professional Association
www.rbh.com
-
M tech I i ne:!)o
www.techlineusa.com
biz
news and notes from around the region
biz •1re
..... . . ...................
digest]
• •
Jennifer Appleby, executive crea tive
sleepless on wall street
director and senior What's keeping executives of online
v.p. for Wray Ward
cats to play charlotte No, it's not the long-running Broadway ~ play. CATS is the acronym chosen for
:!!!ij Ot4lftii'P .,.,.... ntA.\Stl , ... ~
Laseter was recently
the newly named Charlotte Area
awarded th e Women
Transit Service, which includes buses, vans and the future light
in Communications "Award for Communica tion s Excellence." ... Joe Epley of Epley
• • • • • • •
rail system. It will replace the existing "(-Transit" logos. caution : zoning c hanges a h ea d The city of Charlotte hopes to have a new zoning process for conditional districts in place by the end of summer. In April, N.C. Superior Court Judge Ben Tennille ruled the
Associates has been named chairman of WORLDCOM Public
city has been violating state statutes in the way
to Deloitte
it handles conditional-use zoning. Charlotte has
&Touche's
•
been using a one-step process in which the
<WWW.US.
Relations Group, a
council makes a "wholly legislative" decision.
deloitte.com> second annual Online
con sortium of inde·
Securities Trading Survey. Nearly half
pendently-owned public relations firm s...Colllers
State statute, however, requires a two -step process in which a legislative rezoning decision
the brokers surveyed cited "system
is followed by a "quasi-judicial determination" on whether a
outages and mistakes handling grow-
conditional-use permit should be issued.
ing transaction volume" as their
International-
greatest worry. System failures
Charlotte has been
were viewed as a major risk by
ren amed Colliers
60 percent of full-service brokers.
Pinkard to bring it into
Among deep discounters, 38 percent
line with other Colliers
ranked system unavailability as one
Pinkard offices ...
of their greatest fears .
Digital Optics
,
i.t.@unc charlotte program to launch UNC Charlotte plans to have its new college of information technology up and running by July 1. The college will house the university's department of computer science and a second department that will focus on software and information systems technology, which will be brought online by next July.
..~ ....... " ... vn!; J;:: Jnteed a oar~ ortfollo of "lore
•han $40. ~btl tor
tn
,o .ns tc 486,GOO srrall bu~trrssrs tr !999. oo r
Corporation will build
research and manu-
bank of america community lending tops $676 million
fa cturing on som e of
Bank of Am eri ca h as announ ced th at
the last parce ls of
th e first yea r results o f its 10-year, $3 50
a facility for office s,
land in University
billi o n co mmunity d evelopm ent and
Research Park.
investm ent to tal ed $676 million for th e
The company was Charlotte area . Of that, $225 million
originally spun out
SRA
synapse and learningstation sign agreement Charlotte-based Synapse Technology <www.synapsetechnology.com> has signed an agreement with The LearningStation.com
<www.learningstation.com> and Microsoft Corporation <www.microsoft.com> in an effort to advance the development of the advanced educational portal used by The Learningstation.com and its clientele. "We are very excited about the opportunity to work with
went to sm all busin ess and $ 166
The Learningstation.com and their team," said Jim Moncure,
UNC Ch arlotte...
million was for economic development.
president and CEO of Synapse Technology. "As one of the largest
Colony Homes has
N ati o nwide, th e bank's community
named Ray Holt as
d evelopm ent lending and investm ent
land manager of the
to taled $3 9.6 billion.
of experiments at
educational and general purpose software to the K-12 and home
Bank of America.
has named Mindy ~ ~ ~
progressive company that we want to be associated with as they strive to improve their ability to transact business and provide
yea r... ePiaced.com
Felcman
Application Solution Providers in the country, LSC is the kind of
•
greater charlotte biz
~
~
markets all over the globe. We are excited about this relationship and its long term potential." june 2000
9
There are currently 10 million Latin American Internet users, a number expected to rise to more than 24 million by 2003. source: Intern atio nal Data Corp (I DC)
cyber-recruiting heating up All over the world, professionals are increasingly landing new jobs through career networks- massive databases that aggregate job listings across multiple sites, while offering human resource departments an extensive array of train as director of finan ce
ing, assessment and placement services
web marketers cha nging tune
with direct links to their desktops.
an d marketing ...Chuck Alexander has joined
A study released by the Association of National Advertisers (ANA) shows a marked shift in attitudes towards mar-
he Charlotte Regional Sports Commission as
keters' primary Web site objectives. Providing information and increasing brand awareness is giving way to such
director of marketing
goals as developing and improving brand loyalty and pro-
and development
viding customer service. The study show s the number of
... Michelle Frazier
companies advertising on line only rising slightly, from 61
has been named
percent to 64 percent, while average spending has tripled
senior account execu路
to $1.9 million. Despite the jump, online ad spending only
tive for NewSouth
represents 2.8 percent of the respondents' total ad spending.
Communications.
Source : lconocast/ Association of National Advertisers
Forrester Research predicts that networks like these, ru n by outfits like Headhunter.net, JobTrack.com and Monster.com, will capture half of the $5 .8 billion online recruitment market by 2004. Most of that money will come from recruiters, who will boost their online ad spending 52 percent, while cutting back on print adverti si ng and search -agency fees . Source : lconocast/ Forrester Research Inc.
Prepare for Success! The McColl School of Business creates a stimulating business climate through talented program participants and well-qualified, skilled faculty. The high caliber of students at the McColl School means that students learn from each other as well as professors. The McColl School of Business seeks to foster a collaborative atmosphere between students, faculty, staff and the local business community.
McCoU Sc_hool ~~arlotte ofBuszness UJ.llege 1900 Selwyn Avenue, Charlotte, NC 28274 www.mccollschool.edu MBA (704) 337-2224 EMBA (704) 337-2248 10
june 2000
greater charlotte
biz
[regional
biz]
by be a qu irk
• • • • • • • • • • • • • • • • • • • • • • • • • • • • •
cabarrus strikes gold efforts to attract new industry are paying off After only the first quarter, Cabarrus County has already had its best year for expanding businesses. It was the end of the century- the 18th, that is- when they found gold in Cabarrus County, setting off the nation's first gold rush. So it seemed only in keeping with its history and tradition that when another century began -this
than 1.5 million square feet. Among the announcements were a $13-million plant by Owens-Corning (not to be con-
In 1999, cabarrus County saw about $140 million Invested by new and expanding businesses.
That last sentence is full of irony, for
fused with Corning Inc.), a $22-million
much of Cabarrus County's recent popula-
expansion by Southeastern Packaging,
tion increases have been the result of
and an $18-million expansion by
residential growth spilling over from
Lowe's Motor Speedway.
Mecklenburg. Cabarrus' current popula-
The last year of the decade also saw the September opening of the $240-mil-
tion of 135,000 is a third larger than it was in 1990. Ewing estimates that about
lion, 1.5-million-square-foot Concord
15,000 to 18,000 of Cabarrus residents
Mills Mall, the second largest mall in
work in Charlotte-Mecklenburg.
North Carolina with some 200 manufac-
Partially in response to that residential growth,
time, the 21st-
Cabarrus County has
Cabarrus again struck
worked diligently to attract
gold. But this time it
new industries in order to
wasn't glittering rocks-
create a stronger tax base
it was the announce-
to support the services
ment by Corning Inc. of a
those new residents
$550-million expansion
require. Still, 60 percent
of its fiber optics plant,
of the county's tax base
where heat and pressure
remains residential.
are used to create fibers
"We need to create a
only 125 microns wide,
balance so we have a bet-
finer than a piece of a
ter economic base," Ewing
hair. It's the largest
says . "We're more concerned Concord Mills Mall, the second largest mall in North Carolina, opened last with the investment a company year and is expected to attract up to 18 million visitors per year. tory of North Carolina and makes rather than the number of jobs the third largest project ever announced turer and retail outlets, off-price stores, created . job creation doesn't necessarily in the state. The expansion will double interactive retailers and specialty shops. mean a population increase. We have a the plant's operations and likely More than just a place to shop, and offervery mobile workforce- people come add about 500 employees to the 500 ing a new concept known as 'shopperand go in all directions." A labor pool that now working there. tainment,' the mall is expected to draw crosses county lines is important, as "It will have an enormous impact," some 15-18 million visitors each year, Cabarrus' unemployment rate stands at says Maurice Ewing, CEO, president and making it one of North Carolina's largest about 2 percent. chief recruiter for the Cabarrus County visitor attractions. It should create 3,500 The recruiting efforts have also Economic Development Corp. "Here it is full-time, part-time and seasonal jobs. diversified the commercial tax base, the first quarter of 2000, and we've "If you haven't been there, you once almost exclusively reliant on texalready had the best year for new and haven't been to a mall," Ewing com tiles, specifically Cannon Mills. In fact, expanding businesses we've ever had." ments. "They're getting about 30,000 Kannapolis is Greek for ' city of looms,' Not that 1999 was ho-hum. At year's expansion ever in the his-
and it only incorporated as a municipality
end, Cabarrus County had seen about
cars a day there, and construction is
$140 million invested by 164 new and
going up on practically every inch around
with its own government in 1984,
expanding businesses, creating some
there . The growth is even spilling over
two years after Cannon Mills was sold
1,100 jobs. Permits were issued for more
into Mecklenburg County."
to David Murdock.>
greater charlotte biz
june 2000
11
in Cabarrus with nearly
But Cabarrus also offers many things
5,000 employees. It is
Charlotte can't - lower taxes, lower land
currently undergoing a
costs (including 3,000 acres in business
$100-million expansion.
and industrial parks, such as the high -
The Philip Morris plant
profile International Business Park and
is the second largest
Kings Grant) , and a smaller school system
manufacturing employ-
ranked academically among the top 15
er in the county with
percent of the state's systems.
2,500 employees, and it has the capacity to make 165 billion ciga-
counties surrounding it would have what
rettes a year. S&D
is going on without it."
Coffee, Inc., a local firm NorthEast Medical Center, the county's second larget employer, founded in 1927, recently is affiliated with Duke Medical Center. underwent a $10-million
In 1983, a Philip Morris cigarette plant was lured to Cabarrus County. But that, too, led to an over-reliance on one industry, and in 1996, the plant accounted for 24 percent of the county's tax base. But diversification of the economy has been a hallmark of the late 1990s, and that figure has now dropped to less than 12 percent. Today, Cabarrus manufacturing plants make products ranging from high tech fiber optics and bushings (used in the manufacture of fiberglass) to coffee
expansion of its Concord
Center, offers cutting edge medical care
erages to restaurants, hospitals and
largest employer with about 3,200 staff
offices, roasting some 47 million pounds of coffee annually. Other changes are in the works. Corning Inc. is using some of the most sophisticated technology available at its fiber optic plant. The $13-million OwensCorning plant, which is now staffing up, represents great potential for the future . Every machine making fiberglass requires a bushing, and Owens-Corning is the first company to produce and sell this
towels. After more changes in ownership,
forerunner, remains the largest employer
Center, affiliated with Duke Medical for the area and is the county's second
component part to other manufacturers.
PillowTex, and although a ghost of its
Cabarrus has its own resources as well. The 450-bed NorthEast Medical
facility. It supplies coffee and other bev-
and cigarettes, as well as pillows and the old Cannon Mills is now owned by
"Charlotte is the engine driving the economy," Ewing says . "None of the
Presently, most manufacturers produce the part themselves . Why all these expansions and new plants? Cabarrus offers a generous incen tive program in the form of grants that reduce companies' taxes for three to five
Concord Rregional Airport, which is a reliever facility for Charlotte/ Douglas International serves the corporate market.
years. And it's not just for new firms, but for existing ones that are expanding. The
members . Rowan-Cabarrus Community
program is considered a model for eco-
College, which recently doubled the size
nomic development, and similar pro-
of its South Campus, provides training for
grams have been adopted by some two
the new high-tech jobs com ing into the
dozen other North Carolina counties.
county. It also responds to the changing
"Although we give these companies a break on their taxes, in the long run, we are still getting more tax revenues,"
restaurant management and another in
Ewing says. "It's helping us build the
motorsports management, when new job
schools we need to keep up with the pop-
skills are needed.
ulation growth. Without the incentives, these companies would go elsewhere" Cabarrus attracts businesses for
Motorsports annually account for an estimated $124 million in direct economic impact.
12
june 2000
needs of the economy by introducing new programs, such as one in hotel and
Motorsports is one of the burgeoning industries contributing to the Cabarrus success story. According to
many other reasons as well. The biggest,
David Hartgen, a UNC Charlotte professor
of course, is its proximity to Charlotte,
who has conducted research on the
with its large international airport, bank-
industry, it's the third largest business in
ing and other financial resources, and
the county, employing about 1,000 workers.
cultural and entertainment offerings.
Its annual direct economic impact of greater charlotte biz
$124 million is four times that of the NFL Carolina Panthers, as estimated by The Charlotte Chamber. And it's been a major factor in the growth of the Concord Regional Airport, which serves corporations and business flyers. (The FAA has designated the airport as a reliever facility for Charlotte/Douglas International.) The center of the motorsports industry, is, of course, Lowe's Motor Speedway, which has grown dramatically with relatively little public money. In fact, it has
Cabarrus County 's new government center.
contributed to infrastructure improvements, paying for the widening of nearby
Commerce. With 1,600 members, it is
U.S. 29 to six lanes and picking up half
the second largest chamber of commerce
either. They make no sense in the laws
the tab for the construction of Speedway
in the region, second only to Charlotte's.
of the economy."
and the dollar doesn't recognize them
"Cabarrus County 1s part of a region, where we
Continues Ewing, "Any county's
Boulevard, a $10-million two-mile parkway connecting 1-85 and U.S. 29. Although events are held at the
all benefit from each other's success. If you fly
Speedway about 300 days a year, the
over the region, you can't see the county Jines,
major draw is still the Coca-Cola 600
and the dollar doesn't recognize them either."
residents work here. The mall
-Maurice Ewing. Cabarr Js County Economic Development Corp
draws people from a 100- or 200-
in May, which attracts about 500,000 fans, almost half from out-of-state. While here, they spend about $42
"Cabarrus County is part of a region,
million, according to the Charlotte
where we all benefit from each other's
Convention & Visitors Bureau.
success," Ev1ing says . "If you fly over the
Other sites also attract visitors to
region, you can路: see the county lines,
labor pool comes from a 50-mile radius- that means our residents work in Charlotte, and Charlotte
mile radius. When we are looking at economic development, we are not dealing with political boundaries." Bea Quirk is a Charlotte-based freelance writer.
Cabarrus. Reed Gold Mine, where that first gold was discovered, has about 50,000 visitors a year. Cannon Village is a unique shopping destination for discounted furniture, home furnishings, antiques, linens and housewares. Overall, tourism is about a $121-million industry in Cabarrus, a figure that will undoubtedly increase when Concord's plans to build a conference center and hotel near Concord Mills come to fruition. Historic preservation efforts, especially in Concord's downtown, have enabled the county to stay close to its roots and history. Concord's 1876 courthouse, saved in the 1970s from demolition and now on the National Register of Historic Places, is often used as an identifying symbol for the county. But there's no denying Cabarrus County is squarely focused on the future. Its business leaders recognize that manmade boundaries no longer make sense when it comes to economic development and prosperity. For example, the Kannapolis and Conco rd chambers of commerce recently merged to become the Cabarrus Regional Chamber of greater charlotte b iz
june 2000
13
[biz
profile]
by h -2 3th hard3ge l 2E •
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a cap· ta idea julie Garella a d Michelle Ma'dt did1't pLa on targeting we men \' El
ev
they lau ched their i VEs-:me1t fir11 threE years ago. But n:)\v t
have a passion for ed ucating women atoLt the·r pers'Hla l finance ~ .
ke yoL
3.
portfol' 0? Mc.ybe )O U mone~.
-;ue
Th
nai:ve '·Babe in the ~,Voods"
~mffering
0~ perhaps a damsel in diwes~ w;~ir hg. for ~ou - White Kn gill to res012 you fr:Jn ::1 prison d in-.etmen l bcredo-n' :11ce tl- e
E a ~e
just
l ~patra t""fP£,
Lh ~-
of the si;:
a
su =E~sful 3r~cr
woman who is :oc_ii'inced ::be dee~ o·t
"inYe ~ tm~. t ry:1d roo e~'·
some wooe1
LI ..e G:.::lla J:Jd Micbe:Ie Maidt, -:> ri opal~ o f Canegi= G.:r;>itaJ l.dvisors, lur.·e idm:ified Lle~e syocrom~~ an ::i th e~ ain tD combat :..1ese 1r.d other fears. -~t wc·J ;::n haw g;t:din; :heir tlnar.ce~ . Although Ca rnegi ~ :na:1c-~3 both personal an j in - ·rotional porrfolios. duo:a~ irlf; woT.zl abcut their fman crs i as becometh~ two w:>men's l:iggest t:=J3~kD
J
In :. 99-:. GareLa and Mc.ict found ed Carnegie. the o:.1.y fin ancial ser.o'i.::e3 firm i1 the Carolinas owned
to ~al
of \Voo ::n · :mes.tment in the early 1090s. Gaell a ing at In:er re(Johnsoo
s.I-~ e wo:J:r~ed
Sm:th 3 =. rney Harris Uph•m 1::-. Char otte, whcrE ~ i gh
14
junE
net wor.h ir.mvidua s,
.:coc
wo: k-
::..ane _n Charbttt as. ><n ior ·-·ic ..- J:re~ i
de nt of flxe income salEs. Prio r to tha t jo b,
custodial ac::::::> rts
'"'1~
sb~ T
ret ire~ ent
~Lifer fro.:~
Nlti
anaged
plars a.'l::i
n ~e:l
ary hB _J
aginr. h.:Y
II".
w.1. n :ie31in.5 wiJJ- r:onF.- matteG.
~ra t<k sperrt 23 y?r~ v1itt. 3o,ra ~ lr:::.ur = in Charlotte as :.'le:r ·.J.-:Jpert:; ;;nj casml !y p::•doli) >La~s .. She a~o wa3 hc:ad ()[ equjj ~~ c. I Royal , 'A heres l.f rn<L: .:~ed al portfclios. ir.duding th ~ F ~ ic n md 401 (k p .;.m:... 3e:f.J re -l-_c_t, she man~ed fixed inc:>rru: fe r -:he r•rcperty md C<:sUalty -:>Or:fo fi :> and the ~m pa:ty _ ensior_ ::>1:1 .
Gcu::l a wanted to -:c.rt • woman- JVTteC h vestrr ~nt firrr . She sa.v b~ r stre:ng-.hs
y t·y
women. The r:t/O p rtners mEt : hrough the Cc.roLn c., ts=cia::i:::n
portfolics fc:::-
from lack of ir_terest in your financial
Mai:lt .....-.x:J d
c.;~- I..es
be ~ p ~ert
had a c o: f depth a:~ d
an::! marJ.e:: n§ ..-J.d felt th3.t
pa:trcr h t:-e e.--n-rp rise. 'Miche ll.:
~erle:J:.:.e
jn
~~
oa::kt.. We Y"O ld
have tbe;t. lxea':.-f.:M.: a- negger's. a1d I •,..rcr what s 1-:: NaJ1ted of p :>rtfdk>
10
j
.<eep 3.sl::. ng b::r
do 'wh e11 sl- e 5re'A L=-': 2le bad 23
man c.~mmt eT.IJe~i£:ru:e
aLC lnc,.. 1-. ow
company.' Maict ::.v .. ntual )' :>ign?d e-n
I •)
year~
run c.
·::n :.::t: ::h all el .5e of
bui.dir g <::. compn~ from : he gmLnd n:=. • gr~ate -
charl:>tte biz
V1 0:: 0::
0
:2:
LJ.J
z ~
3 0
1-
0
I
Cl.
Mich?i.'e Abdr (leftl;;nj lui~ Gcre!la {ri:;ft;.' have .dentif.ed si,.< ''invesun£>n~ ~~·11;;iro .res" 5Cr.7:? W'JffJen oufler frxn n-r.e., c'ea/i11g
witlt TJ:·n:o_: matters. TAK I
G
THE
PL
NGE
: n 19 ~·; he t"r\•21 "''OTI ~t:. too.:< tl:e plunse ar.d narterl Camegre Cn i:al Ad>so: s; <s E:::: re~iste:-ed m·,·e .meat ad-..~o::-y ~ :lec i:::a:e•i wlety to .nv£st me--.t managemerr:. ~l:•q are a clien:dri?''."'l t1rrn : omj::Cosed ~f th r~e divisior.s. Each d:v~ .on fo= -=s o:t a different clim1 ~e: : nsticu-ion:L Asset
grea:e-
: harlJ:t~
biz
M£:-t ~.5ec. ED -~ FuX. t.1allilge:nent and t:·. e:r Prin•e : lient ·~oup . :=:amegie's
portfi:·li·:J ma:Jagers :::.2relo? 3 strategi·: i-_,e;::mem la1 fo r .:ac d . .::1t that nubizes r · tur:Js at a pre-.>J:ecified l ~,oel :>f ris:{. 1l1e cc·rq: a:ny c -Jy ~e ice:; hg~ :1e: w::trth indi·J'i ual ~ CL\C compan.es. ~ CJt ~ 'Ai .J llet: other client> tO 3. st:t.Jlc O"f ::>:.~: peor k that .:;:m h ::lp
thEm. VIe don't
w~ '1l
to
b~
all thing;
to 3.11 peor:le, " ~Hy>. ll Ell a. Ga-;-ella re::-,ar•.s, ',-\] _ou: client:;
are: lookins for a l:rig.1t: :o nsultativE r:rocess. That's ·.vh;u
\'te
c·ffer a big
r:icture ap roao ;::::. :me. o:ial manageomt." Ca:11egie ernp b~es Look at
a dient's business I =-n. :;oals and cb ecti-..es 3nd lor.t-lt:-r.. strategy. j LT~
2000
:~
15
Maidt explail3: '\"'e ce-lm: thz :.ic:n t's ol::j ec:.iY~, tb ~ n
goals and
...,e
c· m ~
up
w1th what the s~:aegy <= nd a~ El ::.llocation should
::> ~. •
Gare:. « rlds, ""'"-
manage exp.::ctations. We ave c han.s and graphs D s cw tb~ -:olatiL~ versus retura' Maidt cites~ ~ cra11p~ e ·= •L ll £: '\.pril NASDAQ plnge b ilL!St.Qte :he:ir cEents' respcr.se tD a ening markL
-::: ote::tiaJ~
si~·.1nio1.
tanked, we cidr 't
ha~
"P.-=ter
· "&ht-
:~1\~DAQ
:>m: clia ~
miffed. We cnalyzc thE "a .Jes ~ d ients' securities betere ~ <. nd -prc;d c ~ ir portfolio
OUI
tries." Carel h.
ancng di"'fe--ent suppo~
m CJ ~
:Yt..:dt's .;t;n:-
ment saying ' T:-1E re~n ·"e d drr'1l1ave ~··rnt p a nicked cli co nt~ after ti-e -:Jar down 600
p:~in~.;
is th1·
'MO.
had
a plan to de.: l w ' L- er l c ent. I R really spend a lot of tirre .,;itJ- ~err ()n the front
~ nd.'
Both GareJJa c.r.d .\.lat:.t hZ"'e !Cun:l the Charlott:c : 1 rr ate .:-_osp4ta b ~ lc 1 female-run <: L::I 0\\T.ed :>tEmesi. (j;rreJI.a emphasizes 1/e sl3~Ed thl: bu:. o-es:; by asking peop' ~ V\.hott the!" ocede.:. V/r::
work witl the cli31 ~ to e::ll1Cdte them while they edu ca.e .. s. lr tw::• or three meetilgs we'll slJ<m th all stl3te&)'. We ply fur ourse ves " Maidt adds -_b at they h <t•,;e encoLnte:red s I:le skept:<:ism: "We'~
study by th e National AEsociation :Jf Dealers found that wom~r C\ make up o'v€r 47 percent of inYesbrs. Accor ~ ing to thi!. same stujy. women's investmen ~ portfclios often ec. rn more than men':; do.
~ e :uities
Cespite
just g:>in!\ in wittour e::pertise. Were relati"'e:y new, so some pecple are ca·Jtious. · M:aidt says
-uc-
women are still re lu: tant to deal witiinvest ng their
Carnegie ::Jbtai:-ts 11 ::· ~t of its business lh.:-ough -efm-als an d "wordof-mcuth reputation. Sor.e ::i our institLtional work has also bought in indivduill clients.·· HELPI"--G WOMEN
thi ~
cess story, m any
r'-IVEST
.AJthot.:gh the Carne~ie earn did n:J: originall;- target lle worr er '- market af. client:;, Carell a d 'li - s, "Thd3 where o 1 greatest s .JCcesses carne frorr ." Women are nc·w involved in all are c. ~ of finance: and inveS;ing, eit 1e~ as p :>yees or as h e llanage-s of th t: ir J:•.. rsonal and/ or i.'leir fami y"~ inwmt. A recent
e3. ~1-
i •gs. Fear of the Jnkr.ow11 holds rrany
cf tl-_ es ~ would-be investo rs back. tigg~st
l11 ~
mistake a woman can mako:
J-e · finances,
say~.
Garell c., is "not
wi~
get~ ing
Jl\' olved. " Many of their individual, hgh net worth female cl tents
com~ tD
t1em a.s widow; ::>r divorcees. Maict ELn~s.
"Once
th ~y
come to us, they ~t
a liu...e more edLc3.ted. Especially in a Cimrce situation they're scared. A]()( of Llem don 't want to deal with finarces." Care lla adds, "Trese women come ir l:e~e ~t
acd with a little education,
t~y
very involved in their finances.
TI1 ~ get hooke::l . Tak:ng care of yow f:n.ances is empo.vering. You get JlDre :::mfdmce in all areas of your life. Its ~ 'lffY
positive thing."
To help further define and expain th Eir fema le cliert's fears Carella a11d \J.z idt have identified six investi:-tg ">:mdromes" that women often ~<p er ie
ce. They call the syndrom~s "3abe in the Woods," ''Khite Knight, "
·· : eopatra," "De3.r in the He<:dligi-.:s." ., 3ag Lady" and "Golden Girl". The;e ;~dromes
affect women from all
.acome levels. Gc.rella aoo Maidt claim -:ilat
:~lt1ough
V\omen may identify
Aith m::>re than cne ofti-ese ment<: li: ies; The curvE is a rill111e~r slar :~r than anticipated. The foot presses the brakE-. Tile '!ant~ t.-n ..-e s-uring \\heel. The car tracks ttlrougll the corner a::> if cc.. e~elf 11ttt Uelcro. The heart p•unds. Vfith joy. From raza-hone4 s~eeling t:: a chor-in-Hu!-asphalt brakes, •IJ other car makes you feel as conr f' ;tal with tile road at a IMW.
:here is usually o:1e scenario that d:>r:Ji taJ.es thei r invest11ent pattern. 8A3E IN THE WOODS
'' Babe in the Woods' tends to ::Je a1 it:telligent yoLng career-focused ·.vonan. She uses her hectic
sched~e
a,
a1 o .cuse for not learnin:?, about her -l.Jlarce; and putE investing low on her
6950 East lnde,erdenc: e l ouletard • Charlotte • 704·535·0885 VM
16
june 20CJ
.heooricklu:xu
s.com
. i3t of priorities. The cu re for such blly!
.\::co -ding to Cc.rell a and Maidt, there
greater
char , ott~
biz
.re :c ur stq•~: 1.) :;:a? yoULself fi:.ot. ~ )
rew :? The rro-E :oof<tn :e.: Ega IS n
::::-' ~si~
the tnan 3.1
..r;
a
~ i n,?JE
mar Jg.:1g
y: .1 an: ombrtr:..Ie -,v th in :DUr
·=·rq:: any";
.:. Q ~ (J<
·::I?dh c3rd cebt. -.r
pla::- to i:w-es: as mu:b pl :m J. 1Pry off
~-~ Lm?~
in -n _tua futds. ThE result:;?
ten yeats,
·A:a r~ .
$S:",7~7
lrC•:le)'.
BABE IN -HE WOODS
"Ceo;:at~:~' s:,:-~ dnme ~ tr~~
thi~y- lve ~a-~ .
!h.dker wh::: ean:; =. s_gnificant 'r:co m c.
ce:; o
adrr tt i:; or the
\A,;hli 1\nlght"' S¥TI:lome is
\d..J.
th tnl:: Ebe has fin:~
:'VH JTE ICN IGHT
-_h~
::m-J::u ' i:J<e·:in.g and
er.e""tise
1£r :JY-"::1 .
D
at .>he dnes 't ha..-;e
EXJ:·~ rti.>.e
1-wrxlle er
\•/ hal she v.r:: n't
e tim=
:o oBle al ::1er irves:-
m ::r choi:::e> ~L
::10
:>uts_ e a:h: ·ce.
·::::ne L1at a I · c·o m ary women fall h to. ·M:>men who icrn:ny wilh this rrent:lli.:y
Cardia
~pect
exz.:cutrve is d.:i-_g : al . Howe·.re:,
t.ha: DITE<Joc else will talc carE of
COil:llT .J:s,
one : an do
t:•le tn P-ad her 'ln.Il.:ial statemrnts, _noc--surd ....t:-, ho•,.r "le::- oon ~y
clierrts : hal :n
~nigh m~ •:>::-:-·rir:~
i:w estm.enrs. _·- [a
xr a:; lot t .1m o!I to be
Ch3rming. :he curE ~ Fir.d s::ooe:ne
:·bjective (·tru
i~
: trelated:1 to :each her
!jre ate - : harlottE tiz
:1.0
Kell. ]m--e:s· ne is
WHITE KNIDHT ~ wnman wlto e.<pE1.s sone-cn~ etse :a take care ·'lief- anc~. :CLEOPATRA.
.It
high-pO'Ne!"ed ca~r wom:: W\ilo
r.nks she t 3S tt e experf~e to handle er own finar ces.. DEAR I
TI-E HEADWt:.HTS
JIWDman in a str.eszsful c"ra.nstance
{diwrc:e, recent wid..,.) whD ~urrs l ~~M~rd to ?A··"f d {je' ng with the situation.
a fu l tim ~ I·Jb.' ' ;_::.idta:fds, "'/.'e ~ hew ~
"l"VEoed. or :o deto:::--:rin.: i:'" :;he io maki"l.s th~-"
"Tl..is high-po·flerd
~\·~~;:l:.ng
:..""lei: 'lruo:s. Su::.:1::. worr z.r. may :-~ot ::>e
5cod reLJn. cr
carecrr·focLsed woman w1o her hectc :;c~ leas ar ex.::Jse 'arnot lean·rgabo t 1e-rtna~c:e5. ~young
..ISe5
Tl":e -no:: de-n-cB;- :=leo ..s a rr::ovo:r md She -nay loy
·bt t:Jo s!-, :Jbb t"
3.
mOBt
::Jf:e::-t in hig•-p•J"Jr::rerl career wenen..
ir, t·,.enty-five
and $.2C5 7E•J in
~
Six nve:stment Syndrome Profiles
e~ ·J)"
CLEOPATRA
1100 mon _h-
-rves.:in5 51CO per rr::orrth odd crez~ :1 po:tfol:c .,,,.-::J:1h a; :nuch as ~ : 7 38£. 1
aP-3.. ibeiLOre :;he1~
-~
d t :.cir po:tf: lio
m~.
be c::>rmao t." 3:-lr.e Cleopatras IIJ<.Y a so
becom E o..erly ct3.Che::: t::· ar: a-:::::rr::·ac1 to ::-m oo lange- fus L>e ::n .-ke:
'in-.~.ti !J g
As Carella r.=>iin
•) Ul, ~lf
y:x.t
:::~· m ~
lo::J dogma:ic n :::oLl ovningso:rc:hi :-gr
BAG L.Ao-
Oflen, a we l!liln who t as i 1!r'ted >"'!alth and d Jesn't oow how to r~::uce it. Li <es ari. assets. 130LDEN 131RL.S ~ w:>mc.n ne · ~ refi"e nent ·.t : t as saved ere a1c thEn but nEVer propeTly orga-~lzel! ter flna1ces.
j J ne 20:JO
17
womer: ba""e- 't ec.rm:d
DEAR IN THE HEADLIGHTS
the monq,
"Dear in the Headlights" syndrome
dor 't knm"- :- J W
k>
occurs most often to women who h a•·e
rep ace it. "l13E:'s a
experienced a divorce, a husband's
lot : f
death, or even a job change. Wome:1
w'l]. nown he- _·
in these stressful situations may tun inward and try to avoid dealing wiD their new situation. Like a deer caug in the headlights of an on-coming car, such a woman is vulnerable and hcr inaction may yield unpleasant
result~
The cure is to relax and untangle
h ~ r~lf
from her emotions. Carella and Maid! claim that a well-trained financial a.d-dsor is as critical at this time as a la"'·yc:r. The result may be a much more equitable financial outcome in a divorc.: or a better financial strategy as a wdcw or new jobholder.
through this exo-cise not cnly kl mc_i:-tah
FINANCES. THEY GET
theirweallh, bJ- als0
ALL ARE.A.S OF" YOUR
V/o- d 'Nar !I ''These
LIF"E. IT'S A
a re peop.e ...- - o o1 ly -
-
JUL E
investors ir -e 1973-1974 mar -:et crast-. wt-_o "gnt Cu.mE<J.'· TLi!· woman nay not
b€ "'ery sa-r.y :J.t.o·_t L-_ves: ing ar :i tends tote a "rlnao.:i31 hyp·x h:mcn<K.'' ThE 5 b .sed: :rut ::. gooj mvest-
Ll ose fin.c •cal
de::nom. Tl:te 3c.g Lacy ~hould ~t
"Bag Lady" syndrome is often
~ ee n
in women who have inherited weal±_ th~s~
im·olverl c.r:d lcl!= htr advisor de·; Elop 2 por..::ol:o Ll-_a: "-.ill ma intain her .ifestyle Carclla anc
_~.ra
? inaly, "Gclden
GARELLP, C.e..RNEGIE C::AAT.o.L.
MaKit abo 'includ,:s
d t hew seen thE result-
it tbr::::ugh
iovesLT ~nt
GOLDEN GIRLS
VERY
POSITIVE THING."
as~ :o. "
;:11:~:-
in.::reas ~
plamling
, MOF.E CONFIDENCE IN
ofee Dep~ ! ~ion an::.
ag:~in
to
stratEgic
EMPOWERING. YOU GET
oftED seer_ n : hldiT"'l
CJre
help.sucb won.:n
INVOLVED IN THEIR
,. OF" ''l"'CUR FINANCES IS
this is a syndl::J:ne:
meD1 plar e- to
BAG LADY
Carella observes, "A lot of times,
confidence
LITTLE EDUCATION,
HOCKED. T~KING CARE
l\1a.idt ack.E tba1
ga · ~d
IN j-,ERE AND \'\liTH A
AND THEY 3ET VERY
f~ar oLd:! ~
b€ ieve in b.a-j
ing kno• edge: md
"THESE VIDMEN COME
ey
&-:
Girls-, syr:droo~
refErs : c women nearing retir~mer.t Thi:; VI.Omarl may be a m:1.rriei woru3.n or - widoR. )he may haw kept up the farr:.ily -nano3 fer years, savh g Litt:e bits
her ~
and there How=ver, her
fir c.nc:£5, li<e her files, ac in .jisarc;:. Organization is
=--~r
dow• fall . Carel
3
points out, "/'_s ycu go through life, ~:oL chnose 50als 3nd you cons tar tly t: a..-e b readjust
th ·)~e
goals. Just because"! J
wEre g:>t)d J.t a·:cumulatins we 11th dc.•=sn't mean :;ou c.a::1 pu: it under you mattress.." V\1:ether :•r :-_ot you sufferfrorr •:ne
of L1ese in~~ti~g $)'11dromES, Cameg e Capital.\dv1scrs ·till aims to guide both institu 'onal a.1 d individu;U clients through all BoLl j
typ~s
cf invescnent hazar_s.
..-ell3 and .'-iaidt claim that
cr~l in~
nvesti::tg ar d t: oile:rplate hves*ng S-l""iCEs
can't re:pace r:hz one-on-o"'le service a: d ex:p~rti.s.:: th:~t a
fi::n like
Came~ie
pro-
vi es. Maid: c.i.tes an exanDle: 'An a:J-..er-
tiser on ::NBC hc.c a markt S)stem c1 when to buf and sell stoc.Es Trey got ab>olutcly
aus~1ed
on
m~n
calls.''
Regarding online im.esti :- g,
G:~ rdla
ad:h, '':'ou ca::'t get strategy off of a co:nput~ r."
J:,offi the prira::ipa- i :}- .s
fir:n agree rhat investing :ads :::orne ::nd go but :he·, ::hirr: ;:here is n a substitlute for thE : omuttati ·e portblio Jlanag ~ me:nt proc
. GarelJa als:::> adds "V/ re
not imc m'l.rke:t timing, ve' re into porJo_io rr ar:ag::ment." Heu ~h ~!lf'dagE
free111ncr>
18
june 2000
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We Can Print It.
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2000 QlJEEN'S
CUP STEEPLECHASE
[guest
column]
by betty chafin rash, executive director, central carolina choices
.......................................
voices and choices why businesses should care about the environment It's no secret to anyone in the business com-
<www.ccchoices.org>, a regional
3. The Carolina Partnership
munity that Charlotte and the entire region
organization dedicated to engaging
Mike Almond, the new Partnership
surrounding Mecklenburg County are in the
citizens in creating a shared vision of our
President, has done a superb job of align-
midst of boom times. Our economy contin-
future, I am also proud to lead an effort
ing that organization with those seeking
ues to grow, joblessness is at an all-time low
called "Voices & Choices", focused on our
cooperation across a 15-county region, and
and new businesses continue to move here
region's environment and quality of life.
every year, spawning a popu lation growth rate in the double digits. We are, in many ways, the envy of
First I want to highlight business community efforts that are serving as key partners, including:
leveraging the Central Carolinas qualities as a place to live and do business. Why are these business entities and others partnering with Voices & Choices,
the nation, and it seems that
which began as an environmental
our economic future is bright.
cause? Because they recognize that
But if we aren't careful to man-
our land, our air, our water- all
age the growth we're enjoying
components of our environment,
from this prosperity and man-
are essential to our quality of life,
age it on a regional basis, we
and are linked to our ability to con-
may find ourselves victims of
tinue to prosper. Our environment,
our own success.
as an economic resource, should be
Already, we're rapidly
protected as a regional asset - it is
losing valuable open space in
our most primary, most basic eco-
the region to sprawl develop-
nomic development tool. To put it
ment, our transportation sys-
simply, people will not continue
tems are overloaded, and
to move here if we can't offer a
we're on the brink of being
high quality of life to them, their
declared "non-attainment" by
families and future generations.
t he EPA due to excess ozone
In 1998, over 500 people gath -
in our air. One only has
ered at the region's first
to pick up any newspaper to
Environmental Summit to begin
read about the effects of
finding ways to ba lance the
unmanaged growth on other
region's economic and environ-
cities like Atlanta, Los
mental priorities. Throughout
when growth you do want turns into
1. The Business Committee for Regional Transportation Solutions (BCRTS)
1999, hundreds of citizens participated in
damaging sprawl you don't want.
This regional group is seeking ways to coor-
Voices & Choices' action teams to further
But, let's not ta lk about who we
dinate transportation needs and planning
refine specific plans. The process involved a
don't want to be like; let's instead focus
across county and state li nes, and is made
broad cross-section of citizens from across
on being the best Charlotte- the best
up of representatives from 14 Chambers of
the region. Business people and environ-
region - we can be in the face of our
Commerce in both Carolinas.
mentalists, farmers and developers, teach -
2. Advantage Carolina
ers, politicians and average citizens all had
Although not strictly an environmental
a part in the process.
Angeles and Miami- it's what happens
own challenges. In the past, our region's leadership
Our recommendations, called
and citizens have responded well to any
initiative, Advantage Carolina, backed by
number of challenges, and those I've just
the Charlotte Chamber, is building long
Make the Vision Real, contain over
described are being met by an array
term plans for our region's future based
150 action steps, but I want to focus
of organizations. As executive
on maintaining our quality of life, and thus,
on one idea that lies at the heart of the
director of Centra l Carolinas Choices
our economic competitive advantage.
greater charlotte biz
See voices and choices on page 41 .
june 2000
21
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\!biz ,
â&#x20AC;˘,fe~tpreJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . by casey jacobus
information technology
crossing the digital divide Traditional businesses are turning to Internet-savvy consultants to help them cross over into the uncharted world of e-business.
The Internet has shaped a new medium for doing business.
Fueled by the accessibility of
perso nal computers and the low cost of connectivi ty, the Wo rld Wide Web has fundamentally changed the way co mpanies compete. New "dot co m " co m panies that didn't even exist a few yea rs ago are selling products and services directly over the Web. As the pi oneers in this new e-business world, they are chall enging established "brick and mortar" enterprises to change their business models. Slow and steady may not win this race, and increasingly, traditional businesses are turning to a new breed of Internet-savvy consultants to help them co mpete.
II
FIS, fo rmerly a division of Moody's Investment Servi ces, was purchased by
has been a highly respected publisher o f a wide range of well-known manuals,
senio r vice president and CIO of Mergent FIS <www.fisonline.com>.
Mergent, Inc. in 1998. Based in New Yo rk City, the co mpany's data collection
"Our product is business and financial
operatio n is in Charlotte. Since jo hn Moody pi oneered
investm ent guides and other products. It has more than 15, 000 customers wh o are annual subscribers to these
T
he market fo rced us to go to the Internet," says Tim Roche,
info rmati on. Many of our customers wanted to receive th e product by the Internet rather than in print. "
22
june 2000
the co llectio n and dissemination of inform ati o n on securiti es in 1900, FIS
products as well as buyers of individual products. Many of its customers are reference professio nals at university
>
greater c h arlotte biz
greater charlottE J 路 z
june 拢.000
23
The Essential Support Services Leader
supplier of software for informatio n management and the world's second largest independent software company. Originally a developer of traditional database software, Oracle repositioned its business a few years ago as an Internet-based solutions provider. Last year its earnings jumped 33 percent to $1.4 billion, on sales of $9. 3 billion. Oracle was able to provide the software tools to help FIS make the transition from print to the Internet. The FIS database consists of over
Professional and Industrial Placement Rcgi~naljNittimal,'JY.ter1-;:Ltional
Temporary Temporary to Hire Direct Hire
Westaff 800 Clanton Road, Suite W lJj S. ~:1c:r Street Charlorte, FC. 28217 S:ate.wJlc. N.C. 28677 (704) 525-8400 (?04) E7:H444
and public libraries. Until 1990, FIS's cornerstonE produc~ w~: re its rnc.nuals and investment guices. B·Jt tten, Roche says, the com:;:•an~ began to focus its product-:ievelopc_enl 15enca on C::)-ROM technolog:1. "No·..v v1e·r':' seeing the Internet replace •:::: D -RO ~i c.nd even some print sales," says Roche. 'CD-ROM technology is no bnger in favcr. • As it lo ::>ked br ways to r:nve from print to the Internet FIS turned to the Charlotte o :"fic ~ of :) racl ::: <www.oracle.com>, the w::Jild 's leading
10,000 U.S . public companies and
more than 12,000 international public companies. It includes financial statements, business descriptions, capitalization structure, and share price data. "We had many different systems, all oriented toward print products," says Roche. "We needed to move data in a more timely fashion. The biggest benefit of the Internet is that it could provide more information much faster." The company now uses the Internet to speed access and delivery of the data to customers with time-sensitive needs. "We lose business if we provide wrong, bad or out-of-date data," says Roche. "If we lose business, we lose revenue. The new system has much better integrity."
logistics solutions Another example of a successful partnership of this sort is the one between marchFIRST <www.marchFIRST.com> and dicklogistics <www.clicklogistics.com>. Headquartered in Concord, clicklogistics provides comprehensive business-to-business logistics solutions.
"Cli ck" was established in July of 1999 and is a subsidiary of Cardinal Logistics Management, Inc. Click's services include order management, carrier management, optimization and consulting. Its customers include other dot corns, retailers and manufacturers. While each customer's needs differ, most have both domestic and international shipping requirements. "Click is not a pure dot com, nor is it a startup," says Eric Wolfe, Click's chief operati ng officer. "We have an established book of business and an infrastructure of experienced personnel to back our technology. Our business is building and supporting effective transportation processes- we want to use technology to support efficient communication, not technology as an end in itself. We recognized however, that we needed to get the technology in place to support Internet activity and we needed to do it very quickly." Click turned to marchFIRST for help. MarchFIRST was created earlier this year through the merger of two industry powerhouses, Whittman-Hart and USWeb/ CKS . Robert Bernard, president and CEO of march FIRST, founded Whittman-Hart in 1984 to provide services and solutions for IBM's midrange computers. By 2000 he had grown the firm into a leadi ng provider of e-business solutions for fast-growing and middle-market compan ies. USWebj CKS was founded in 1995 by three former Novell executives. It rapidly became a leader in Internet professional services, with a strong emphasis on the business-to-consumer marketplace and brand building. As a
greater ch a rl ot te b i z
........................................... • •• •• •• •• • •••• • •• •• •
resu lt of the merger, marchFIRST has a multidisciplinary focus. It has 8,500 employees and offices in 654 cities and 14 countries, with headquarters in Ch icago. "We don't have a large development
6
staff and don't plan to have one, " says
ongptiErE
Eric Scholar, Click's chief communi ty officer. "We' re a logistics company. We
o w a can e
choose to target alliances with technology providers and providers of supply chain
s1 ess
So what can eBusmess do for m business?
o or my busmess?
services so that we can focus on our core
Good question. eBusiness can enhance your customer relationship~. streamline your production , and re-energize your IT investment, but or- Jy if you have experienced guidance throughout the process.
competency- excellent logistics management services. MarchFIRST is one of the links in our chain of a lliances." MarchFIRST sent a team to do a
ewly spun off from technology leader DBBasics, OnSphere's mission is to concentrate on eBusiness solutions - vision, planning and Implementation . We bring a tradition of excellence, and an incompara ::rle track record of crafting eBusiness visions into practical reality.
technological assessment for Click. Then they suggested specifi c changes in network hardware and helped develop a
Our first step is always to deeply understand your business , then to apply our extensive, method-driven process to developing the right eBusiness initiatives for your needs. Only then do we go on to implement your customized solution .
different format for the data that was being exchanged with customers. "These guys had a good idea of what they needed to accomplish,"
Are we overdoing the emphasis on you?
says Jon Nance, senior m anager at marchFIRST. "They just didn't know
We don't think that's possible.
how to do it. We became the enab ler."
Any Questions? Come by www.onsphere.com or call 704-940-6750. We love questions.
One requirement from Cli ck was to use the Extensib le Markup Language (XML), a format for structured documents and data on the Web, for data exchange. XML can be used by an individual or a group of individuals or companies that want to share information in a consistent way. MarchFIRSTworked within Click's
out what they owe, and pay it all in
0:1 ~
to st:pJort our e-commerce initiatives," says Sl-_anon II art, Cl ick's chief knowledge officer. "We want to leverage tech-
system, " says T.J . Felice, office marugi g
nology that can be used today and that will aJ~ o drive us into the future."
develop that system for ordering, _nvc·i:-
N3nce points out that the interfaces
existing framework of Microsoft technology
d ~ve l oped
partner at marchFI RST. "We were a-J ie to
ing and remittance." "We worked with Click exactJ: as
and tools to create new interfaces for
they
receiving XML-based messages. "The use of XML, to send and
sol utic·n to the problems of electronic
Nance. "We recog ni ze that we are
date inerchange. It provides an applica-
nothing more than a too l to them Tb:y
receive business documents, is very new and industry standards are sti ll being contested, but we believe that its inheren t flexibility makes it the best choice
greater charlotte biz
give Cli ck a repeatable
tion b;o:yond just one customer. "Customers need to make an order, find OJt the status of their order, find
we do with other clients," exp lain ;
needed to grow th eir business. We helped them create a strategy an.c the plan to implement it."
>
MO
TAG
Management Corpor a tion
Buildinq Wealth ThrougJ: Cus tomized"Portjolio Management Fee-Based Investment CounsElors
james L. Montag
jeffrey G. -'aughan
2915 Providence Road, Suite 250 Cha!"lotte, rK 2821 Teleprone: 704.362.1886 Facsimile: 704.3cE.5269
www.montagmanagement com
·nt e nat solu: ·a s S·=me buinesses n:x:i 3n e-business fcr inte:ma protltms. Addison '.NllltJXy <lVWW.ad.:iisor:rh.itney.com>, Ch.r cttE-bast-d >tEte&: branding and desigr: omu . tan~ scrvi:15 ?ortune 1000 o:ompm.es had a ::> rcble::-:t managing its nteo-=1 da:aba~ E)'S~~ITL It turned to Syste. .: T~cbnolcg. es < rww.stS.com> io: h ~. -=>- Syst.:m 51lildEr-·J=·k a twomor.ifc r:ro ec to r:::vamp: Addison "\' it"'k-y·s .,t=:rr..al dc.~a E?S~m. !:1~y _ eV~- V~-rut L-.E Y wanted,· ~olujOl
says Nadine Film, account executive k>r Charlotte and Weftern 1'-bth CaKJlir:a and South Carolira at S:~ ~e m 5. ''They just didn't know how to ~et it." System 5 Tecr.nolog:es is a five r~ar old company with headcuarters in Charlotte and offi :es in ~eigh, Knoxville, Atlanta and 0 ~13 ndo. '::'he company works w.th cus:c·mers D bring current technologies tog~ er wit1 th.? customer's busine~s \'ision. It proo.rides companies with a mmpl ~ le "end to end" business solLtion. ~J5 lem 5 is tlte
14th fastest growing privately held firm in the Carolinas, according to KPMG . The way System 5 worked with Addison Whitney is typical of the way it partners with its clients. The process began with a discussion of Addison Whitney's business practices, rather than technology. "We had to understand how they wanted their internal process to work," says Film. "Then we could help them select a solution which would best fit their needs. Once the package selection was done, we helped them implement it." The result is a database which manages Addison Whitney's contacts with its customers in a more efficient and secure way. There is one all encompassing database for internal employees to work with, but it is partitioned and access is restricted. The database is designed to grow as the company grows. "We were able to help them redefine the way they were handling contact strategy," says Film. "We were able to use technology to accomplish Addison Whitney's objectives."
clothing solutions
I :rcur travEl spe nd~ ·:; more than the cost of six to eight fint class ickets per n:IW:h; yo u car affonf a quarter share of a used small business: jet or i:urbo prop.
<Yti"'·Jr rc·-e partner needed for Citation I Partnersh:p Lov1 ti-r-e .c._ rp~ :n:.,, recent engine overhaul, 2,000-hourseniorpilot. Fly ::occ xd~ to)"-" 4r5chedul~. Operate fi-om smaller, less busy airpcrts, whe-eejou ~e11d Jal _a~e et'!m::>n~ line flying, not waiting to fly. All aircraft are inve!1:m~nt-c~.uLty asse-:s
tlut -<eep -~a I 00% of their value and accrue depreciation e=pe:Jse
Jets-To-Go, LLC. ;:r Fractioncl .6.ircraft Ownership Service Company Based at Concord Regional Airport CJQFl, NC
Contact Lawrence M. Raymer, Gen.
Mg~.
at
71l4-892-6126 800-767-1881 e-mai l: lraymer@freewwweb.com or ~isi · ::u- ·"c- sice, http//sites.netscape.net/jetstogolawrencehomep<qt
1.3::0 Mayes Rd., Huntersville, NC 28078-5025
26
june 2C •J J
Rutherford-based Tanner Corporation manufactures women's high fashion clothing apparel as well as gifts and accessories. It sells these primarily through a network of approximately 2,000 wardrobe consultants across the country. This sales force needed to access information stored at Tanner's headquarters, regarding historical buying patterns of their customers, the current status of the inventory, and more detailed specifications of the Tanner product line. The consultants also needed to be able to place orders on-line and to improve and expedite the sales cycle. Tanner had been producing monthly printed reports and ma iling them to consultants. This was ineffective because of the cost involved and the time lapse between when the report was generated and when the consultant received it. The answer was to create a Web site for the sales force, not for customers, which could do more than simply deliver repons. To develop the site, Tanner turned to OnSphere Corporation
g reater charlott e biz
<www.onsphere.com>, a spin-off of DB Basics Inc. which was founded in 1988 in Raleigh. In January 2000, DB Basics created OnSphere to specialize in helping companies develop their e-business objectives. The company was one of the first in the nation to specialize in dient/server development and training. OnSphere developed a Web site for Tanner that generates reports on demand. This eliminates the problem of stale data. "The majority of our work is with companies who want to be proactive," says Matthew Toney, e-business solutions manager at Onsphere. "Technology has grown at a faster rate than many businesses can handle. That's why they come to us. Tanner didn't just save money this way. The consultants were able to get the information they wanted, when they wanted it." This solution was so successful that Tanner officials began to see other ways the new technology cou ld work for them. The order processing department saw that sales orders could now be initiated on the Web rather than over the telephone by order entry clerks. The Doncaster dothing-line catalogue could be transferred to the Web site. Additional information and more detailed specifications could be induded in the online catalogue than in the printed version because of space and cost. Also, the internal management team started using the report system. "Like most clients, Tanner came to us with one idea," says Toney. "When that was implemented, it opened doors to other ideas. They could see ways to solve other problems with Internet technology." As quickly as the Internet is revolutionizing the way we do business, the Internet services market is growing to help businesses of all sizes make the transition to the new world of e-com merce. By 2003, the Internet services market is expected to reach $80 billion in North America alone. Companies looking to make the transition to e-business models have plenty of help.
m march FIRST "Put your best idea forward."
m march FIRST 2725 Water Ridge Parkway Suite 350 Six LakePointe Plaza Charlotte, N.C. 28217 704.329.4600 www.marchFIRST.com
Casey jacobus is a Charlotte-area freelance writer.
greater charlotte biz
june 2000
27
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I
neiVes of steel Once a local powerhouse, Southern Engineering had gone bankrupt. For the past six years, Charles Saleh has been restoring it the hard way: one employee, one supplier and one customer at a time.
~v\~en
Charles Saleh arrived at Southern Er.sineering headquarters in 1994,
:ir:: fe>und mass destrJCtion from a recent torn3do, o : solete equ:pment, a handful of employees and only one pe:-s: 3) computer in ti-e _rrtire b.Ii_ding. ChargEd with the seerr.irgly impossiJie- rescuing
th~
bankrupt business- his
futu E ooked bleak. "Normallyw•m you start a company, you sta-:: at ground . ~vel," Saleh replied. "We started below grour.d. Pe::>p l~
thought I was
c~."
. . . . . . be situatioo V\.as a far cry from the company's heyday. Fouod~d in Ell, Charlotte, N.C.-based outhern En:s inening wa3 one of the premier ste£1 fabricato1s jn thE South ~ ast. Dubbed "Little Pit~burgh" the ompany's Wilkerson Boulevard hell·:.q·.:arters fabricated 3nd erected most o r the buildings in Charlc•:te and the surrounjj:1g crea, including IndependencE nrcm: (the old Charlottr: Co:iseum), 07ens Audi1orium, and pon~ plants dotting the r _g on. tv1any current competitors l:n:n::hed their careers and IEarn~d the 3teel fabrication t u; _ ~sat S:mthem Eqi•eering. But in the econom:.: rnvirOIDEnt of the early 1990s, bE company began to f:aler. G:-egg Lucas, indus:~ icJ analyst c.t Wach:)Via ~ ecurities, =x~·la i os, "Tile steel bus::1ess is a norori:::>usl? cyclical r u '~ ~s. When the eco:-.o:ny ca:cbe · a -old. the ~- tee) : u.o r ~s catches the flu .'
2E
june 2000
Additior.ally, Scuthern Engineering had relied too hea·Ti.y en large proj ~cts for big corpotations. The narrow custome~ bc.se left the : company in the lurch as corporate giants scale::i bc.ck or placEd projects on ho ld during the recession in the eiiy 1990s. So.leh s.:_ys, "When the big customers dried up, taere wasn't enough to keep it alive." O ld, decrepit fa::ilities onb added insult to injury. With c edi :ors mounting, the company filed for bankruptcy. Its subsidiary compmy, Catawba Rebar, shut down completely, and S::-utbern Engi eering employe~s waited for the ax to fall. But muo to their surprise. it didn't. The Nuqul Group. a --vorldwide : onglomerate with roots in the Middle East, sc.w o: portunity in the ailing business. They set up a h::>lding compmy, Beta In:e:rnaticnal <www.betaintematlonalcom>, an:! p_rchased S<11thern Engineerir.g and Catawba Rebar in 19S4. uqLI poured $5 million into new equipment and technology, and Charles Saleh was appointed the task of the turnaround. >
greater charlot:e
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5<1uthem E- g;,,eerir.g's r.Ju'1aqeme.1t :eam (left ro right): , im An-JÂŁrson, director op '=rc' bns; lim Patterson, controller; 0::mes Saleh, oresiie1t; 5:n.:rN'l P/_Jb=n. ?ng :reer'ng ;na.1cger; Bob Hackw.JrtrJ executive 'r'ice pes1def!' .
g -eat::! r :- a rl ott e J i z
jun : - 2. 000
29
~-•
orne weren't so sure that resuscitating the fabricator was such a good idea. The
told them that we were a new co mpany. Give us a chan ce and we won't let you down. And we didn't."
steel industry is inherently risky. Analyst Gregg Lucas comments, "When companies tighten
Expanding Regionally
their belts, they tend to delay building. The cycles are particularly tough, exag-
back to life, Saleh looked to expand Southern's geographical reach . His goal
gerated at times because it's not just what happens here in this country, it's the whole rest of the world." He adds, "There's always the question of how foreign eco nomies wi ll affect our supply and demand ."
was to offer turnkey service to contractors and developers throughout the eastern United States. With Southern making a steady comeback, he set his sights on Lynchburg Steel.
"Why steel ?" counters Sa leh. "You will always need steel. Steel is one of the basics in life." This engineer-turnedbusinessman actually welcomed the challenge. "Show me an industry that is not competitive. The issue is not competition. It's how much confidence you have in yo urself." Still, Saleh had to instill that confidence in his weary employees. "! had to build trust," he says. "I to ld them that
As the sleep ing co mpa ny ca me
we were going to be the premier company in this area again. But I didn't just want them to hear my words; I had to prove it." On the offensive, Saleh acted more like a coach than a president. He rehired
Unlike Southern Engineeri ng, Lynchburg Steel had never fallen on
laid-off employees and encouraged crehard times. This Monroe, Va.-based fabriative problem-so lving. He overhauled cator had grown steadily to $45 million ineffici ent and outmoded practices. And in sales in 1996. With another facility in he instituted training, quality improveAbingdon, Va., the outfit was dearly a ment and safety programs that exceeded industry norms. "Show me an industry that Saleh's management philosophy is quite simple. "It really is not competitive.The issue is co mes down to the basics. The number one rule is trust. Your word is your bond. When you do the right things in li fe and treat people well, the rest wi ll fo llow."
not competition. It's how much
confidence you have in yourself. " -
Charles Saleh, Sout hern Engi neering
Bankruptcy had also eroded the trust of suppliers a nd customers. Saleh carefu lly set out to rebuild those relationships. He paid suppliers COD until the company regained credibility. He boldly approached potential custom ers, bidding on small projects, and earning their respect by exceeding expectations. "We had to start small," he recalls. "We
success story. Beta International acquired Lynchburg Steel in 1997. The sale did not affect any of the local jobs, and the ma nage ment tea m was left intact. Sa leh notes, "Nothing changed except ownership. The company is still 'humming' like it has always been. " Founder, C.V. "Andy" Anderson is now chief operating officer.
At Your Next Sales Meeting, Ask Your Sales Team • • • •
Do Do Do Do
your prospects resist yo ur selling points? they fight yo u on price and stall you with excuses? they refuse to make a decision? they shop your proposals all over town?
Break Through the Barriers!
Bob Henricks
30
june 2000
Mike Fisher
greater charlotte biz
With Ly11chburg
~ - ~d
i:r
~ f::~ld,
Beta l::HEIT aLon;al -:as =:xtrnd ~ i:s custome-
b1~
a" -.._e112i iG fc::fraphical
Ste:el sa metal composed of iron and carbon as well as other elements such as
reach. A pe::f~ct ::o mpk:mrnt _::; ~ou t h e rn E1gi~r: ng'~ nc.r~~ ~.
comb nEd conr::3.nies Dmers f-o::. ~a i e l:
has
DCW
di~rdiE<l
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the
srp:nt
M~sachu.=ett3
STEEL 101
: u~
t : fk• r ida.
ln ~un:u:ional 's
e: ffil ia: e o:ompan es intc 1e-v """D3rl:ets. Business ines :-.evE ex: nded .::ro:::-1 :;tee! fabricatior s;:rv]res and reba:- :·o- constructior i1to rcn--con=t-uctio - fabric;a-
chromium nickel, molybdenum, zirconium, vanadium and tungsten . Different t\·pesof s:eel are produced by adjusting the chemical composition and adapting differ=1t stages of the steelmaking process. The largest markets for steel are con:;tJuction (buildings, transport infrastructure), automotive and packaging.
W ,at is a steel fabricator? Sl;:el =atricators, like Southern Engineering, purchase basic steel shapes
froTI ::;urt=liers or mills and customize them to meet actual job specifications. Fatd~tor:; add value to steel, designing and detailing custom shapes and
(001e<:tioos for every single project.
What is rebar? P.ebar ' s another name for reinforcing bar. It is a specific type of steel that re·lfon::Es or adds strength to structures, like reinforced concrete walls.
Whet are common uses of steel? Sl~el
s eYerywhere in road, rail and bridge structures, and construction
elements such as reinforced concrete walls and pillars. Steel is also in cars,
=ocd tion, like conpc:nEnts c r t:L·=--< c. nd
cha~.~i.s. •.:::api t<: lizi:~r g
en
~
:x>die~.
Eyroer-
gies of its afflia:es. Beta lr,tE1T :donal is now c.
p·~rfu
:)l:e-s:)p
re~ -·..-:;:
the ccnst--uc·o- irdus::r:'- :>-
f.Jr
3 1C
"JT :• doct~.
Jeverage cans, bicycles, airplanes, and in a vast array of other Vou'll find steel in furnishings, office items, or in motors, mobile
:>hJn::!_;, industrial machinery, flagpoles, lawnmowers ... it is impossible to magh e a world without steel. S:Jt..-c: : Gr€gg Lucas, Industrial Analyst at Wachovia Securities e:1dArerinn Institute of Steel Construction
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Coverage Tai lored To Suit Your Needs j un e 20 0 0
31
~
Vital Stats •:har es A. S cJer Age: 42
Job : Presiderl
Company: Bel:3 nterratiooal
am:l.'lfilia~Es
dbc: Southern Enginezr 1g. G! r:>l r a Reba · and L~n : 1:w · g Sl?::cl
Year Founded: 19 11 S:out1 ern Eng llEeJing
1960 Caro ina Re:>ar 1970 L·yr chburg St=el 199 4 B~t a lntemat Jn:t
Headquarters: 3015 \Ni (ke~c r Hid. Cha ll ~~e .
'4:: 23208
l0£..::.99 8331
:phoo~l
7Dt.::.93.0Jl!! (faJC:
ww·N.b et3i 1ter· aliorHl.com
n recent years, Beta International has provided all the steel and fabrication services for Concord Mills Mall, IBM facilities, and the University of Maryland Performing Arts Center. Saleh recognizes that talented managers are critical to the company's ongoing successes. "No one daps with one hand. You always have to have good people." He considers Bob Hackworth, executive vice At 42, he is surprisingly young for president; Shawn Plyben, engineering such a momentous undertaking. But manager; Jim Anderson, director of his biggest priority is his wife, Mary, and operations; and Jim Patterson, financial their five children. Saleh is also deeply controller, invaluable to company. He committed to the community; "We need also credits Tony Glaser, vice president at to be known for our ethics and for making Carolina Rebar, as well as Andy Anderson our community a better place to live." and his son, Doug, at the Virginia facilities. He has demonstrated this dedicaCharles Saleh admits that engineers tion, serving on the Charlotte Chamber's don't always make the best businesspeople. "Usually, when you're so "It's easy to be successful upfront. technically-oriented, you think of things in minute details. But you The tough part is sustaining it. can't run a business that way. That's one thing I've had to overcome." Now that we have grown to this
I
Number of Emplo·;ees: From the Heartland to the South
S:>r.rthern Engi • eerl115. 130 lyr ~ hbu rg
Carolini!
St e=.• 1:0 30
~eh:ar,
Primary Productj Se ·ice: S: rucfural stee I anc
r ~llc r
fa:>ricci'icn
ft: r : he constructior inistry
2000 Estimated Sales: $EO+ mimon (3etal1t::rn31iJ1cJ
Representative Cu5tomers: I A. Jones, Bovis La r dlea!:e
!AlE~
& C1apman, lr:er:on ~o cgHs Bu ikle ~ .
Turner G>r stra:ticn,
( [ark ::.;nstruction
Education: l€JV\"a State Un k?r3i ty
8. 5 ., Mechanicc l Er5£re~rir g. Ge<X"gi a l1!:titut? of Teck1 o.l: gy fA. S. M::chanical Engin e:ering
N.C. General C·: nt· ac!Dr's Li ::ensE N.C R:e:=.l EstatE Brc-<er'S l ice1 se:
Family: '/life, ~ary C , ·td ren, Andrea-l t:, Cfi·ist ne-111, len3-U, Matthew-4, .M tJa:::l-2
32
ju1e .2000
level, my next priority is not only to sustain it, but make this a solid and
He also had to overcome stable organization." bitterly cold winters in the Midwest. As a young man, he visited his sister - Charles Sa leh, Sout hern Engi neering in Des Moines, Iowa and decided to Board of Advisors, as Chairman of the attend Iowa State University. "I visited in Manufacturing Flagship for Carolina the summer and it was absolutely beautiAdvantage, and on the Charlotteful," he remembers. "I had no idea it could Mecklenburg Development Corporation. reach 88 degrees below in the winter." Saleh is also a member of the Westside But Saleh was no quitter. He obtained a bachelor's degree in mechanical engineering in 1980 then headed south, completing a master's degree in mechanical engineering at Georgia Tech in 1982. He worked for IBM until1991, when he launched Alpha International Trading Company, a pulp and paper export business, that he still runs today. Saleh also holds a N.C. Contractor's License and a N.C. Real Estate Broker's License. When Nuqul Group tapped him as president of the newly created Beta International in 1994, the job appealed to his entrepreneurial spirit. Unfazed by the seemingly impossible task, he said, "One of the things I learned from my dad was persistence. Keep knocking on that door until it opens. "
Business Association and supports programs that target Westside youths. "It's important to help children get the best start." Southern Engineering has grown from 13 employees in 1994 to 130 today. Carolina Rebar, once empty and lifeless, now employs 30. Lynchburg Steel is better than ever. Although Saleh is proud of material achievements, he has a broader vision of success. "It's easy to be successful upfront. But the tough part is in sustaining it. Now that we have grown to this level, my next priority is not only to sustain it, but to make this a solid and stable organization." Nethea Fortney Rhinehardt profiled Mike Walker in the May issue.
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(COffiJ[_Uf:itv
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Junior
no srrall achievement
Achieven1enf
raining the business leaders and workers oftom:>rrow There s 3 girl wr •Jse innovativ'e idea.; could revolutionize the Jar king industry as we no·N kn :.·11 i t. There is 3 boy w oo~e volunteer work with the homeless could enable many to f1d a place t :J u~· e and a plac-=
:J \•.rJ
..
There is a -: hild whose cancer research wo rk rr ight one d 3'/ save •te ~ . These are the
dream s ofp ung people in,tolvej in a local program called Jun ·or Ac1iEvement.
•••cr
:».,·o;-r !.0 •t::a·o;., JJnior Achievemelt QA) \]as been a
t1e c assroo-n is Tc.<irl~ a •J i=fer-
and '<'/Ort!or:e r=adiness. -heir Jnique practice of recruit-
ence in Joo~ting s:a1dcrd i;:?l:J,
i1g suc:esoful :us ness peoJle fro11 the community to
state-requird exams,
bJ~
dei"'E' ~:JEC "lccllytargeted eco1omic pro5rams to youth
reason test s.:ores are
gJi-~up
ir area sc1ools i~ a sua:ess story in and of tself. Junic•r A:hiel"eTient of the Central Cuoinas <'NWW.jacarolin£~9> is~ iTjuce~
'Tt-e work w= a-E co ll5 in
r:;':nE=- n Dfidrin~the gaJ Jet¥VeEn loca education
ICGl ncn-pofit fl'3nch se, bc.sed in Chc:rlotte, which
3:. COL. 1j'!5 ir ,\l::rth Carolina and Sou:h Caro ina. In
t- e is
because critical thirll:.i1f ~ I( l5 are inpr:Jvec ." says '/olpc ni Lynn Viets, Prcvkte1c:: H gh Schocl teach=r and C1J i" eortJ-e
M':'!C<lerbu·gCc JT)' ol:on~ 36 percen: cf st11delts in kindergarten
socia l studies deJlOrt-nent ~ Nell
th-oug-h grcd:! 12 pcrl:ic'c:te in JA on a regliar :Jasis.lt is one of the
as natior al tE3cher o; t h ~ 'rEa-,
li1:1=st Ja~fciJat Cl1 :tt:e~ :Jf an Lrban school setting ir the country.
has been woridngvri"il )Ln ·or
In t 1;: :.999-CO s:hool ~ear, JA pl3ns. to nvolvE 32,462
}1. n'or Achie ~-c rr er.t txESiden: Phil ~'o 'pcTt.·
Achie\ement sine-: l?E6
e Errentr, ~raje sLden :s in Meckenbu~ County'~ public
Sre has taugtt th= u1 a ·
a1: Jriv3:? ~choJ s. The Jrganization 5 gJal is to rEach
Achieverrent :1rogram to tearers in 1/\a-: edonia, Russ ·a a1e
l •J:• :Jer-: Ht ~art cip o=:i :11 i1 g·ades
f:-s
JY ~002.
The bo:n=fits :•f :h,;: 1h p -og·am are fa--raching. Students get a so lie o-rr nitr ro .e no del and a fresh pe- spective that can
some of the former :!as:e-n t· ock co J 1 ~ r es s :• that thE'/ crouJ.: teach ile·r stLdents abJLt cacitalism . NJtes Vie-:s, "Ole oft ~ 1=roblens -e re in AmEri :.:. ~ trat studerts and ,:Jare1ts 3SSJ'11'! : hat trey -:n ew all about -: apitalism and economic; be·:c:use they live in a cc:i tal stic soc ·ety. 3uthat is lOt nec=ssarily : rue. I ~o:st my s~ udEnt s tefore I begil :h:: program and after thE arog-c: Tl k!S enced . In : he beginnirg s:u:t-nts lack basic •:onc:!pts ~te mCI:r:• e::>nom~:s , :ex cc cepts c.nd setlht; t'!st at th= end a'th ? cou'3e, sor'!~ 'Ali I~ TP
inflJence their a=:2: i:· tlS ~ gc.rding the r eduC3tion, ·:areer and
up a bu;iness .•Vhe ·
pers-)1al ~nat'I2. Local tus ne;ses get an OJ:portunity lo support the
an average of 2J pe--::=rrt oer :L:;~s."
corrrnu1i:y ;; 1j El1ance thi!i r Jublic image, Nhie pre[Jilring the next gen-?fat 01 : =.J•)rKe~. -eachers and sencol cdrrinistratnrs get com-
"A lot of people don': rec: l i~e tha.: cJ- .dren are t·eg 1nilf1J make vocation.: I de cisiJ1~ tet..-een g-ad= three and grad€ six, ''
mur · . suppo-: ~eo iTpro·.e tleir curiculu11 ald Jetter prepare stu-
says Vo lponi. ".Vhen y:•L. t31 < t:l a lot of s-trer.: ;eneu rs . ou fi>d
dents 'o r ~uc=.ss bEr:x1c ~duation.
them te ling yo J that they <rew early on -t a: they wantEd :J
''Kids to C3 / wc_- ;:~ c krait', 'Where am gcing to apply this
their O'Nfl busir=sses. But, the·t will a so :E'll you tha: tlere
:Pf/1
.V35
ma !IJ that I ar Jo:- i-5 re:J ui ·ed to learn?'" r=marks Ju1ior
not t he l:.inj of sup pclt Sy~Em that nurtJed thosE earl~ d eas..'
Acri ::ve -n:!nf :re~ i :;:!rt Phi Volponi. "And ~,;~hen you 1ave a 27
Exchange City
year-old c1emtst, f·J' e;:.ample, go into a kirw::lergarten class and tell rE clas~ thit he =~ n m3ke water di sa ppea·, and 1e does just thar, ~oL j st ·....atch ::-E
e1ez. widen oftnese ~4 \DUng J:eople. And
Junior 4.chi :!ve mEn: is J. :: rl:ing to brirg- a new progr.:.-n :al :!•j Exchange City to the Charlatt:= e:1ea by Dea:-rrb2r 20C1. ·ut era.l'y we will build a ~-nall OJ:'!', wtler:: l(ids wi .l 2:CtL.a y run the cilt ·or
then he s~1s . ' e~· l-:>old tfy:u c:re interested n ck>ing W1at I do for a
a daJ'," remarks volpli . '\'/e vr. l havE ;cllrth grader~ com€ up
livire, you 1ee•: :c nak= sL ·e tt-at you are pa·1inr attention to your
to the city, having prepared in
teach!r 2n j th e sc EncE yOL are go ·ng to l=arn th:= few minutes after
jobs- bank preside!l{, puljis re- of the nt!"tools;:>aper, re~t3_r.ant
I lea1.e, be:a J s~ Js= it =-ve-yday in th-e jo b ' de.'
owner, ertrepretleur, Vueb Jcg'! :esigne -. TrEse 125 fourtr grade-s
34
~ ure
:':OJ:
:--.e class -oc -n for a lJt o= ::li'fere-rt
grea-: er charlo -: t ::
biz
•
w·oe4ec1 th~rr o~o..n mc.·,cr, cr~at:- a jJdidcJ
sys:em, 3ld -':Jr that
da,, thE'!" w·uget to ~peienc=
·--
.::
.... :=...,
~-
life a.= it
&<-ne -alty 1a: JeiJS. Ar d t 1en 3ft2r tr at
go back 3nd t.a k about i;: =or two Vl-eeks and
'·Jl is ar. enjoy;;tJe way to l>e ~ po;i i;itf;.Jr;fluence in our rommunity and ;ra •iae lives~{7fttdren. . -·. = :;~-:,;,· :j='·,~rn - Ki!.-, Frcdt.ttc, McJ:ir.si!y & ·comji~1y;·" " ,1AcK n~e·,
s cco111itme1t toY.. ·:>::rnbiles t!IJ of Jur top prio ·i-
ti =~; a corrrritrre-tto:1:o educati•:n o=chi ldren =~ w~m c:s under-
el<perienc=, :1 ey
s·a -.:ling i:WlC in X>. r ~ tr e econJm·t thro Jgh01.t 11e Carolinas,"
31erv.·ard~
n:rtEs =>eter ~id=bc·tbm. IAckin seoy & C:>mpan•t pinciJal.
evalu : te
Fi'5t U1 o tc> aralvst, Joei'J/i.li3rr~ , has "olu1teere.J in the
'A'hat the" r 3~ ]earnej.''
"I vi:;ite: c:r E>.ctJarge City program in 11: anapcli5. Th:!re ·....,as a ch ld p ·: <irg u ~ :r<:sh My counter.: art the ·e :::> d 1e, 'I ·.rc"'l all the ;:> Js ir t :::city and trash colle·: hJn ·s nc•t one :.f
lh p·osram bralll ·lSt i•te y=ars "I v/3sn
L-,., 31d I d=:
fr·Jrr Char otte origin.ai -
d ~d tc vcoljnteer fo ).niJr C.C1ie\emerrt ir order tc
g~ my feEt Wf: V~' it1 t1e new s:h ·:~ my d.: ugh:· was attending,"
-tlen.' Soh~ .v=1t up~ :he young man and ~aic, ·:x::u:c= nte,
reca Is 1MII ans. "FI's: Union is tre lec.:er il rrOoJi:i"gv•)lurrteers for
Jut ·Nhatar= JCL do ir5?'
ti-e ,Iii. x::>grall .'lrtl- T~e a little 0\'er 01) •,olurrtEers n the pro-
The l<ic ~'Ld, 'Wel, I am pick:irg up t1e trash.'
g·an ri g1t rcw. Th= c:>11p:.ny has etlCOUr3~ed
'I kindiil lrcvt thii11.. E!ut Nhy ae you p' cl:ingiJp trash?'
dLcat'o1, g-i·,i~ e3:h ~:olo'!"ee en= 1our a we~< tD "'Ciunteer in
'We I, I brd:e cno: of ou· rule s ::nd the LoJgE fi - ed rre and I
oJ t : hildren ·s ood Lcat·:on Jrograrr 3.''
U5
to g-:::t irvolved in
: hings, s:> re a:;signe::l re to corrmunit1 ser~ice.''
t:AJf:e Fcw:!r tlade aco:ount m3ncge r, L:: rry P. i=-1, teca11e irv ) .ved IMtr ]L 1i :r aco·e.emert f"tee1 years ag£:. Ai '?!of v:>lunteers ir cl3ssrocm:; eact ;..eek -=:tr sone: mes ~ semester.; a ~-ear,
Comm :.u uty Partid paUon
d2pendi1g 01 'f'ih3'e
jidn't hcve E- ojgh r.oney becau.;e I sp~t lrT/ r:.aycred or othe -
AboJt c:igl-: pe·cent c•fthe bu~inesses ·n \\ed:.lenbug ccun:y are :>roviding s::me lev=! of -=unding or vo unteer resotn:Es kn : hE
·=rv
L/1 progrc:m . Th -=re erE .: bout3,00J voluntee~ from : t-e sm::llesttotr~\·~ry l• rgest, particir:ating in m<.ll'/ u1 qt..=
W3Y~·
· JA gets 3 V3riet~ of pes:>Jie in the communit 1•Lt-at rni.sh: ne-.er enter a da.O.SIOJll to g::t nvJived with teaCle rs c:nd studen:s,~ says Meissc DJnlap, tJewel. Elerrentary Scro: l 3ssi~ta1t pinici paL "Weh c:•:e ::o•te rro-.e fron horremakets tJ :eop{e in Jarkirg, la¥'.'!-'ers, gro·:~ry sto·e : lerk5, all of variot.t5 3~5 and Ja: <grounds W= 3 ~::> wo r • \·ery ::losely .vith th~ ::ollege3 h=r=
as the•
provide •o ..J:eers fo· Ihe p ·ogran : oo. "JA s ~a ,...~1. c•r§.:: li~ed bet'tl-een the sjhool and t 1E ccll munitv orgi:Wli <a: ons,'' mntinu=s Du1lap. "IJe 3~ abl~ : o :te f exibl ::: if someCile needs to : :• me i1 the ll::>rnirgs . : r ifscme·Jre needs: to orne in :he af:e ·1 J:m.s. :orne :o rne i 1 for a solid 'N~k c 1d sorr e o~P-r
-,= x::>urse :of se\o€ral we=ks."
cons11lt c: n~ and ta~ 3d::~pted an enti ·e scho:JI, Jakhwn
Elenentary c.s their
"=>rofes~ ic 1al )o.
II. has helped rre !n:.-endJL~I/.
r'lli h
rrv ncrketin~ ~si li: tJ w th CL ~e "Jo·,.e·, !~eve
:o maLe 3 l::t:
o=p esentatiJr:;," S3<fiNrey. ''fie - ~ n =ont Jfkid3 ~d- Nee ·~ has r"£ 11'!-' he4Jed my p--:5entation sl::iUs i1 rr·,' professio - a lfe.lf ~ou Gr sell a classroo11
o= ki::Js C41 3 br:ic, /JU can sell y::>ur p-::ducts an•: s-=rv ces to anyone. ','W"-en I v1a5 FC Nhg Jp., I really wa -ted to be a tee. mer. lA. i h JA, I cnr tear:1, aCJd I ca -
or .!.chie\-ement proje:t. "People from
Mc ~:i nse/s.l::h ar iJt!E c·ffi:e ·;olunteer their: re :o ljl ic-
wo ·~
fJ - Cuke Poo.-.e ·.'
Con~· a•y ontrit:Jtion~ cc:n 131:.= m-a1y foms . ,;nder~en C::n;u . rn~. co~
Ne'A Yen •: t-ba3Ed P.'cKinsey& Comp.ry, h::s a ocal Jffi:e of
10
II. needs l-im Tll05t.
e;a- ~.te, provide: ei&ht program11ers last fall to)
m J\.e the lAW=b 3 t= :o an =-co-r•re ·ce site. allowing the on lin~ J:E~' Ilen t a.f ~lejg=s-1J ·ough
\li SA <11d v1asterCa-::1. as o/'ie I as othe-
te<riler and "OUriE€1' :;ur\·eying. "Fcf ou · CJll"IUniti~s to be 5u.ccessful an: eccnonically
Ach ievenelt :lff3U3o: it is i:W1 enjJy3ble way tot~ a positiv :-
r\ a, 'f'/E reed t::> h3Ve ::>eople =niJyirg 3n:J .;e-eing the va ue ard
irrfluence ir otJ comnrity-and
ci~r it 1• of all wor<,' s:lid Vo lpcni . " n oth~ wo ·ds,
·"'e
1eed the
in the li\o€S o=ct- ildre1 ,"
peoDI= w oar= g•) r§ :o be bank p ·eside - t~. :r en:rer:reneurs Jf
remarks Ke1 =>edot:o 'o'\c:Kirsey
a :Lsi1es:; :>lit we
& Comp;m~ as:;ocia :e.
o::Jrr ing in!o yc-ur 1e ghborhood oo ::: a v-~el:. and picking up your
Adc:s \.'o X41i, "T-= be c: uty
:he :sen;e tl'·at c:tl I.IKlr·: l-as value . Pe:>ple 1av-= value. 1e key is : o lla: c 1 pe J~4e up ....;th wr at th EY li<e t: do, ,vi- at the•t rave a
ning anc a• ere, a-c 3 stru::-
s:-=l&tl- tJ dO- - 'lEt i~ when conl'ur itie~ w·ll :Tive and o)Ur
u-=d co ltEn- !tat mal::E~ it eas·t. Fo1 cc rr pmies j.:e McKinsey, who:;e a5.5JCiate.s :-3V~
gr:oater cha rl ·: tte
as an e1:rv Joi - t
er:o1cTic \'i :ai\1 .,. I :on tirue.'' ,=-y nc.re ir(o.mo:;ri.:n. :ootc;:t t'le :w. .o.-.c.ch:E."'!fl'e·t Offt-ce at ~·""S36.9663
tc make a differ= 1ce."
b z
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.ta31. Son=: hin5v12 1ave I·Jst i1 tt- e pas: coLP'e of :Je-cades is
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a great ceal, It! Jecane a good o:>portunity
a~ ne~d
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35
by tim parolini
• • • • • • • •
like television, only different These local broadband pioneers are developing a big audience for classic 1V shows and movies over the Internet In the days before cable and satellite television, television viewers could either watch shows on VHF (channels 2-13) or UHF (channels 14-83). The fare on most local UHF channels consisted of syndicated reruns, classic films, "shock theatre", kung fu movies and other low·cost fare. One UHF station that became a household name was Ted Turner's Superstation, WTBS, which helped build his media empire. Now a local Internet company hopes to duplicate that kind of success, ironically, by featuring much of the same content as
Doug Hawthorn (front lett), William Krause (back lett) and jim Safran (right) have quicklr become the "UHF" of the Internet entertainment industry.
an old UHF station. Charlotte·based
lll
Q2
LikeTelevision, Inc. <www.liketelevision.com> is an Internet broadcast net·
vision.com becomes the premier destina·
<www.real.com>. Already, liketelevi·
tion for streaming video as broadband
sion.com has developed a reputation as
work that delivers a combination of pre·
access becomes more common with both
a "must·see" Web destination.
released content and original program·
consumers and businesses. At the
ming. The company, led by Doug Hawthorn,
moment, they are ahead of the curve.
William Krause and Jim Safran, maintains a
"We're not concerned," says
library of over 2,000 video clips of stream·
Hawthorn, chief creative officer. "We
pending on what they call "Instant
know we're ahead of our time. So were
Gratification Streaming"or IGS. IGS is a
Television Channel" with such hits as The
Yahoo! and broadcast.com." In fact, like
proprietary process of digitizing enter:ain·
Beverly Hillbillies, The Andy Griffith Show
so many other Internet businesses, being
ment media for computer viewing anc
and Bonanza. They also have the "Movie
the first to capture an audience is an
streaming broadcast via the Internet.
Channel," with films like Night of the
integral part of the strategy. "Being first
Living Dead and The Legend of Marilyn
is really an advantage," says jim Safran,
Monroe. The company also offers original
CEO, and a former executive at Vnet
in 1996 and together they formed
Like Television productions and exclusive
Internet Access and lnterpath
Pendulum, Inc. Among other projects,
content created by various artists. Like Television streams its video and
0
UJ
z ~ 3
0
b I c..
market, the company has some techn cal advantages as well, including a patert
ing media content, including the "Classic
0::
::!
In addition to its head start in the
audio content over the Internet. That means anyone with a fairly new computer,
Hawthorn, an independent audic producer and sound engineer met Krause
Communications . "The audience is not
they developed video CD· ROMs for bLsi·
just coming to see the movies. It's the
nesses. But they saw the future lay else·
whole experience of the site."
where. "We knew a lot about distribution
The company has lined up
for a CD, and how limiting that was," says
a high-speed connection to the Internet
close relationships with Real Networks,
Krause. "I knew - everyone knew- t
and current browser software can watch
excite@home, ChanneiSeek and Scour.
was going to get bigger. That thresholj
the show of their choice anytime he or
Their site is frequently a featured site on
where you could deliver content over -he
she desires. The three men hope liketele·
Real's immensely popular "Take 5" site
Internet was right around the corner.
36
june 2000
greater charlotte biz
So we started trying to get good at that because we knew that distribution model just was so awesome ." Adds Hawthorn , "The system we developed removes the part of the video and audio spectrum that become trash artifacts when the file is interpolated for streaming over the Internet. So the stuff that you are encoding is all real. It's not turning into artifacts." In the age of the convergence of television and the Internet, the three men and their staff at Like Television are both throwbacks and visionaries. "Unlike a lot of sites out there, we're not anti-television," says Safran. "We'd love for our stuff to eventually migrate back towards that, and we'd love to show the way." Indeed, the programming on LikeTelevision is not based on any scientific research . "We pick program· ming based on what was entertaining to us," says Safran. "We want to make sure some of the old stuff has a home . And I think the public recognizes quality. That still matters out on the Internet." Apparently it does. Last July, they were streaming 1,000 videos per month . By December, they were doing over
''I've Got
The Power!'' With Tegra, I'm IHore Efficient. "As a company ir:11 helps Human Resource departments manage wages anj :~ e1efits, settle claims and offer employee training , we 're a bu:;iress that relies on communication. We needed a system that wJriG. Teg ra installed a phone system with fully integrated voice m:Jil ~ ·s flexible, easy to add new extensions, offers us the ability· to monitor voice messages or record our conversations. We l a~·e ro cutoffs and no complaints. Tegra is a rare breed. They saved JS money on our carrier, installed our system overnight, ar,j rad us running the next morning with absolutely no dowrti rne." Dick Daniel President The Employers Association
500,000 a month . Today they are up to 1 million videos streamed per month, and their prospects only look brighter. Forrester Research estimates that by 2003, there will be over 25 million broadband subscribers. "We really are better known outside this area than we are here," says Safran . although each of the three principals has
www.tegra.com
been here about 20 years, "It's almost just by luck of geography that we live here." Adds Krause, "For every person watching here, there's 1,000 watching in California ," says Krause. "And that's true of 15 or so other states." Future revenue driv· ers will depend on that national audience, as the company plans to forego banner ads for 30-second digital commercials. LikeTelevision plans to establish a high performance server infrastructure this year and add additional staff to help accommodate their growth. The company is looking for another round of financing, hoping to raise $10 million . Using the latest technology to deliver old television programs may seem a bi t ironic , but Andy, Jethro, Little Joe and the rest of the gang are at ground zero in the convergence of the Internet and TV. And a Charlotte company is the reason why. greater charlotte biz
june 2000
37
[expert
opinion]
interviewed by bonni j . herndon
. . . . ............ • • • • • • • ........ . . . ... ..
click or die! making the transition from "brick and mortar" to "brick and click"
a
What are the fundamental differ·
2. Evaluate and research how large of a
ences between a dot com and a
response you will get to your site when it
traditional brick and mortar com-
pany when looking for a Web strategy?
goes live. If you build a great site and you are overwhelmed with a consistently large response, make sure your system
There is one very big difference.
A
That difference is the dot cams use the Web portal for 100
percent of their revenue stream, which is
essentially their lifeline to stay in busi· ness. The brick and mortar companies use their Web presence as pure market·
design will scale to the load. There is nothing worse than building a great e·commerce site and having your paten· tial customer driven away due to either a slow response or no response. This is when your customer clicks to another site and buys from your competition.
ing or as an additional revenue stream.
a
Do all brick and mortars need a Web strategy?
Dale Tweedy knows about taking risks. In 1995 he traded in his job to pursue a dream. Five years later he is beginning to realize that dream as president of System 5 Technologies, Inc. Headquartered in Charlotte, System 5 provides corporations with the ability to implement IT/ IS strategies quickly and successfully.
I truly believe an yone who is in
A
been acknowledged by such key corpora· tions as Hewlett-Packard, Oracle, Mercury Interactive and CITRIX. Chris Rutherford is Oracle's channel manager for System 5 Technologies and touts that "Dale and System 5 know how to get the job done." Their recent awards include Deloitte & Touche 's "The Tech Fast 50" and another award from KPMG, which ranked System 5 as number 14 in the top 50 privately held companies in the Carolinas. Tweedy is an excellent reference to guide traditional (non Web-based) companies referred to as "brick and mar· tar" in the process of going online.
38
june 2000
or implementing an e·business strategy is considered the hot new way of doing business, keep in mind that all the princi-
or service in today's economy
ples of the "old economy" companies are
a
still very solidly in place. You will still need a good marketing plan, a good
What should be their first
supply chain model, to be price competi-
step towards an e-commerce
tive, and to have a great customer service
solution?
plan. Above all you must have a very realistic plan for making a real profit from the
When considering an e·commerce
blood, sweat and tears (and money) that
solution there are many questions
you put into this project.
that need to be asked before the
first dollar is spent.
System 5's success has
though building a great e-commerce site
the business of selling a product
must have a Web presence or strategy.
A
3. Have a sound business model. Even
a
What are the different
components of an effective
1. Evaluate who your audience is. Will they purchase on-line? The adage "if you build it, they will come" does not always hold true. Items that are in a commodity state such as books, office supplies and tickets of any type generally are
e-commerce solution?
A
The obvious are the key essentials: marketing exposure, a good product and, in many instances,
attractive pricing and delivery. Some of
items that need little or no customization
what is not sometimes obvious is having
and can be easily implemented into
the engine for an e-commerce solution
an e-commerce solution.
reside in the bulletproof system design
On the other hand, items such as
(hardware, software and the design
custom clothing, homes and other high·
methodology used to glue all of the com-
ticket items are generally more difficult to
ponents together). Also, a main compo-
sell on the Internet because the buyer
nent of an e-commerce solution is vision
generally wants to touch and feel the
and value proposition! I truly believe for
product prior to buying.
a successful e-commerce solution that creators must differentiate themselves greater charlotte biz
from everyone else and have a unique-
distributor ir h;:- geograph ic region with
fVr:- :1( concerns shool.d 11 compa..1r
ness that attracts people to their site and
the sa tes an = t :1:: distributor .viii realize
Jra >e when choosir.g a sobtion
keeps them returning.
the p -dits t = ~ rw:)rmal y wD iJd have.
,mWder(s)?
\\'hyco
0
/s it possible for a classic brick and mortar without a current Web presence to create an e-commerce site that ties in with their traditional point of sale? What are the benefits and the potential pitfalls?
A
There are many variables here. Size, product, branding, market-
- li 5:~
Tre ma ·n r:!ason is that ~p :: rien c e,
most i1ems s: I:J -na~ need sErvice and supp·rt, a1d t
·= geflerally ti-e distributor
experi ence, exp er-
e- e ! Keep in min e that a suc-
that tl- ~ cust:: llEI w· .I go to fo- this service.
ce~s ful
e-comme r.::e sJiu: iorlC<J-
Since ·: is in bl e =es: interest •Jfthe manu-
b:: a
facturer to h~ . E lroca! suppc1:. they want to
fc· yo.J r : cT pany if design ed orrectl}.
make sure ti- e d~tri utor is a healthy
~ ot :!
i:: lly huge reverue generate !I"
~rof
p=orl• d ::~ ~ed and/or unsuccessful
itable :JUsine5 t- 3t C3r mai- to:in the quality
irplemE nta: on will be noth ng mJre
that t - :: mar ufa c urEr demcmds.
th 3n ~ ve ry~ pensive busi ness lesson .:>-
ing and existing channel/distri-
bution models all have a big say so in
how a classic brick and mortar can turn into a "brick and click." The following are two examples of wrong and right. These are examples of methods of what is not the best way to marry the two together and what is a proper way of
One Stop For I Your Insurance Needs!
tying the two together. For example, what if Ford Motor Company suddenly made an announcement that
Even though implementing
it would
an e-business strategy is
sell all
the hot new way of doing
Ford products over
business, the principals
the Web.
of the "old economy"
What would
companies are still very
happen?
solidly in place_ You will
Ford deal-
still need a good marketing
ers would be out of
plan, a good supply chain
business,
model, be price competi-
Ford's cost of
tive, and have a great customer service plan_
doing business would sky-
rocket, their stock would plummet and there would be thousands of people nationwide who would be unemployed. This is an extreme example, but it is for this reason that Ford only has an informative Web site, which can actually assist their current point of sale partners. On the other hand, a model that I have seen that works well is one in which a manufacturer actually has a Web site and can take orders via the Web . Even though they also sell through their net-
I
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161) =ast Morehead St F.C. B: x 33789 Charlotte, NG 2:8c33 phone: 704.375.8000 iax : 70.: 334.6526
work of distributors they will credit the greater charlotte biz
june 2000
39
many of these VC firms have really raised the bar and are expecting the dot corns to have profits in even shorter time frames. Existing businesses that implement an e-business strategy may realize a positive ROI because many of the infrastructure components and support staff may already be in place . So the ROI could be a little as six months in some cases .
As a total solution provider what has been your greatest challenge with assisting brick and mortars in their quest for piece of thee-commerce pie?
Q
A
Many of the brick and mortars are very open to adding a new aspect to their business model.
With that said, there are some companies
that just don't have the urgency that a pure dot com has. This is due to the fact
Q
How important is it to get the Web portion up and running? Should a client wait until the entire solution is ready or deploy in phases?
A
I am an advocate of getting the site in a bulletproof state before deploying. When the first customer
A
Yes, keep in mind that just
that the brick and mortars are already
because it is called e-business
typically running a profit and their
it is still business. The basics
immediate business is not fully depend-
are all the same. An e-commerce strategy
ent on getting the e-business strategy
is just another way to reach customers
in place quickly. This is quite the oppo-
and realize additional revenue. Orders
site for the dot corns who are pressured
musts still be placed, products pur-
c.icks onto your site your reputation in the
chased, products shipped and
e路business world begins. First impressions
billing/invoicing or payment by credit
are golden!
card must be realized . If thee-commerce
With this in mind, the product or
solution is not tied into the legacy sys-
service offerings can definitely be rolled
tem, business efficiencies are not being
oJt in phases. Amazon.com is a great
met and a company will end up running
example of this. They first took on the
dual systems. That defeats the purpose.
book market and they have done very well. As they gained success in that venue they rolled out the next one and the next one. Ultimately they hope to be your one-stop-shop for anything you could possibly buy on the Internet.
Q
When a company makes the commitment to create a total e-commerce solution should it try to integrate to its current (perhaps legacy) bock office systems (order entry, purchasing, shipping, billing, etc.)? 40
june 2 0 0 0
In your experience what is the typical time frame for profits for a dot com or on ROI for on e-commerce solution with a brick and mortar company?
Q
A
This is definitely a trick question. Venture capitalists will expect a pure dot com to be profitable in 18-36 months
depending on size and complexity of the business model. I think since the pressure on tech stocks in March and April,
with very aggressive deadlines by investors to get the site up and running and making a profit.
Q
In your opinion how important is this? Is it really "click or die"? I am in agreement with a com-
A
ment made by Andy Grove who is the CEO of Intel. "If you do not have an e-business strategy in
five years you will be out of business." Of course this does not mean that everyone must go out and build an e-commerce site. I do believe, though, that a business that offers a significant product or service must have some form of an e-business strategy in place just to streamline business practices in business-to-business scenarios or to capture untapped markets to continue to grow. Bonni Herndon profiled yourunderwear. com in the May iss ue.
greater charlotte biz
voices and choices
continued from page 21 recommendations: a comprehensive regional land use plan that integrates open space protection and transportation planning. Most of the environmental challenges facing us are initially choices about how we use our land, about how we create places for you and me to live, work, learn and play. Once decisions about how a piece of land will be used are made, other deci路 sions must follow based on that first set of choices. How will the area's transportation needs be met? Will open space be set aside? Will runoff and sedimentation from new development adversely affect water quality, or can buffers be included to mitigate damaging effects? It's not hard to see that all of these factors must be considered as inter-related, but again, they all are affected and driven by a key set of initial decisions about land use. For example, land use along our transportation corridors will determine whether regional transit can work. This is why I believe, and hundreds of citizens from the region believe, that a regional
land use plan will allow us to continue to grow, but grow smarter. As with so many successful efforts in our past, we propose that a public/private alliance, made up of local representatives from each county in the region, be created to oversee development of the regional plan. The alliance's first task would be to create criteria, a framework, by which local integrated plans would be created . After all, "one size" definitely does not fit all of our region's needs, and this plan must be driven by consensus drawn from the local level. This is not a Mecklenburg plan, this is a regional plan, incorporating land use, open space protection and transportation needs. Next, we will need to lobby our legislatures in both states to provide incentives for regional planning, and to put in place whatever tools are needed to allow local governments to cooperate and plan across county and state lines.
Open space protection will be greatly
Metropolitan Planning Organizations into
aided by the work of the Carolinas Land Conservation Network, which is cataloging and categorizing key tracts of open space in our region. When creating our plan, we should set aside valuable open space first, not as an afterthought. This is the legacy we will leave our children and grandchildren that they will most remember. As our population grows, we'll know that we can support a continued high quality of life because we've planned for that growth, not just let it happen to us. Although we haven't always agreed on every point, the business community supports the work of Voices & Choices because we're working on the same agenda. Call it quality of life, call it the environment, call it economic competitive advantage- we all want to ensure that our region remains an enviable place to live and work. We're used to being winners in this region, and I believe that we can be the first in the nation to create a truly effective regional land use plan to protect our quality of life.
one cohesive body, in recognition of the
For more information, contact Central
We also believe that it will be necessary to merge our region's five
truly interdependent, regional nature of
Carolinas Choices at 704.376.9541, or
the Central Carolinas.
e-mail ccchoices@aol.com.
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let's play two! a charlotte knights ballgame is a major league experience Like most kids, Tim Newman grew up loving baseball. A lifelong New York Yankees fan , he is now vice president fo r Beaver Sports Properties and the general manager for the Charlotte Knights. He hopes someday to help bring major league baseball to Charlotte. For now, though, he's got
In addition to the ongoing promotions, the stadium features something for everyone, including the LearningStation .com chil dren's play area , a beer garden , an indoor "Home Run Cafe" and a picnic area for corporate outings. Corporate sponsorships and outings are an important part of the Knights success. One aspect of that is the team ' s luxury boxes . "A company can come out and
hi s hands full managing the affairs of the team and making
rent a 14-seat suite for a ballgame for $400, have it catered with
sure everybody who comes to a game has a good time.
food and beverages, for maybe another $300-400 and have a
Newman spent seven years in New York City working for Morgan
quality night out for somewhere along the lines of $50- $75 a
Stanley' s Sports Development Group, which handled the financ-
head," points out Newman. "If you try to buy a game ticket for one
ing for Camden Yards in Baltimore and The Ballpark in Arlington,
of the 'major league' events or races and add hospitality, you're get-
Texas. After he and his wife had their
ting into the hundreds of dollars a head.
first child he decided , "New York' s been
Tho se thing are great things, but this
great, but it's time to get out" While
allows a broader range of people to be
working in Charlotte for Wachovia Bank,
entertained. So we're a pretty good deal
he met Don Beaver, who owned three
from a standpoint of corporate entertain-
baseball teams at the time. Newman
ment, and we've got first-class facilities." He adds that "if we get fans here
joined Beaver in 1997 to oversee the minor league holdings of Beaver Sports
once, eighty percent of them come back."
Properties, Inc. and became the Knights
Part of the reason is Newman's attention
GM last year. He couldn't be happier.
to detail. "I'm really a stickler about things
"We' re underway with our baseball sea-
like making sure the trash is picked up
son, and I'm having a blast," he says.
and the restrooms and the seats are clean," he says. "I view it as people pay-
The Knights <www.aaaknights.com>
ing for the privilege of coming into our liv-
are the Triple-A affiliate of the Chicago White Sox. Last year they averaged just
ing room, and I want to treat them as if
under 5,000 fans per game at Knights
they truly are our guests." Newman is
Stadium in Fort Mill, S.C. Newman hopes
available on the concourse during the
to boost that figure for the defending
sixth inning of every home game to
International League champions. "We
answer any concerns a fan might have. Despite the growing success of the
have a very active promotional schedule with concerts on Friday nights and fire-
team, Newman and the Knights are
works on Saturday nights," he explains.
already hoping for greener fields . "We're
In fact, there is a promotion for every
looking right now at some preliminary
game day. Sundays are Time-Warner
design and cost estimates for a Triple-A
Family Day, where families can bring
nm Newman hopes the Knights hit a home run this year.
their cable bill and get two tickets for the price of one. On Mondays, fans can sit on the berms for 99 cents.
stadium in uptown Charlotte that could be expanded to a major league stadium,"
says Newman. "Where we are is a nice facility and York County has
"Two for Tuesdays" offers two general admission tickets for the
been good to us. But there's not a lot of walk-up business from
price of one . If the team loses at home on a Wednesday, Harris
around the ballpark on the southern perimeter of suburban
Teeter VIC Card Victory Day, fans at the game get a ticket to a
Charlotte. If at some point down the road we are fortunate enough
future game. On Thirsty Thursdays, beverages are discounted .
to win a ball team from the major league level, we want to have a
"I'm really excited about the prospects for the season ,' says
facility that could be expanded. I think time is our friend."
Newman enthusiastically. "If someone wants an affordable first-
For more information about the Charlotte Knights,
class entertainment option in the Charlotte market, we are it"
call 704.364.663 7
44
june 2 000
greater charlotte biz
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