Fer tv-'•:> ccl.sec-.rtir e years,.AJen Tu~ R.f_ocat_e:nms bee::1 the oJTlyre::i?iEntoffre D .a::Irr::li - lWU':igh~::1 in honor of ~ence and exccvtionalser.ice yk RE::::O k:~:xk, 1 potai relc .::3licn a1drc:al~raie ~-ri::at:.or:. For TuJre in1c.-rrEttf= n, pease contact D.J. 3tec1a1, ml:iderr:, at 1 -E:00 -277 - 6~· - .
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cover story
The Cato C
rporation
John P Derham Cato 1s got the job he long sought and it seems to be a good frt He knows the value-consc1ous customers that The Cato Corporation targets for its women's clothing. Started in 1946 by h1s grandfather, father and uncle, the company has come a long way from its first two stores
in South Carolina. to become a NYSE-Iisted cha1n of over 1,1 00 stores with over $730 million 1n revenue. But for John Cato. his ascendancy was not assured.
Montreat College Expand1ng Charlotte's educational horizons, Montreat College seeks to extend educational empowerment to people who have for whatever reason been
• ·-
unable to ach1eve it through traditional
publisher's post
4
serv1ce, the 1nstitut1on seeks to develop
employers biz
6
servant-leaders with a strong sense of
Legislative and Regulatory Highlights for Area Employers
schooling. By emphas1z1ng leadership and
positive bus1ness eth1cs.
28 ATCOM Celebrating its 25th year as one of the Carolinas' prem1er provders of communications products and servces with a 42 percent growth surge,ATCOM Bus1ness Telephone Solutons attracts both customers and employees for its exceptional customer servce and employee appreciation.
34 Hull, Burrow & Case There are a lot of people talklng about these orthodontists - it's pretty common to get a good referral straight from the horse's mouth. or, er, their client's mouths. Compassion and care. coupled with high
c •
standards and a determination to grow, keeps this practice cutting-edge.
34 Equally important to its reputation for exceptional service for its remittance and
biz digest
14
orth Carolina Economy Improving Modestly Health Insurance Premiums See Double-Digit Increase
community biz
42
The junior Achievement North Carolina Business Hall of Fame recognizes two Charlotteans, Wayland H. CaLO Jr. (The CaLO Corporation) and Albert f "Pete" Sloan (Lance, Inc.) for their outstanding contributions to economic development.
44
biz resource guide on the cover: john P Derham Cato, Chairman, President and CEO of The Cato Corporation, in the Cato store on East Arrowwood Road, off South Boulevard near the corporate headquarters.
Photography by Wayn e Monis.
document processing services, is this company's commitment to its racially and those employees overcome barriers arising out of their diversity
oct:Jber 2004
8
Crown Solutions
ethnically diverse employees and helping
2
on top
cliaflotte
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www.greate rc h arl otte biz. com
Good Work Gets Noticed: Meet Our Newest VPs Lat Williams and Tar Reid have been elected Vice Presidents of Scott Insurance. Lat is responsible for marketing and negotiating propertyI casualty coverage and service for clients and prospects. Lat has been with Scott in the Charlotte office since 2002. Tar joined Scott Insurance in 2004 and is responsible for business Lat Williams
development, specializing in the transportation industry. Lat and Tar are also company owners through Scott's Employee Stock Ownership Plan. That means they have a personal stake in doing a better job for you. So when you need dependable service, count on Lat Williams, Tar Reid and the entire Scott Team to do good work for you. They'll deliver the effective Insurance coverage you expect and the responsive service you deserve.
Employee Owned
Tar Reid
INSURANCE scottins.com
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Return Fiscal Discipline . .. Erskine has the right idea!
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IZ
Octobe r 2004 Terrorism, the war in Iraq, outsourcing of jobs, $442 bil-
Volume 5 • Issue I 0
lion in deficit, prescription drug costs, national security, struggling airlines, failing corporate pensions and nuclear threats developing around the globe are all critical issues
Publishe r John Paul Galles jgalles@greatercharlottebiz.com
upon whi ch to judge candidates for national office. And the list does not even include additional concerns about family values, abortion, stem cell research, preservation of traditional marriage, gun control, corporate greed, global warming and environmental protection. Our world seems to become more and more complex each
Associate Publisher/Edito r Mary I A Lane maryl.a.lane@greatercharlottebiz.com Contributing Edito r Susanne Deitzel
year. Every election seems to be more important than ever before . This year's election is no different. It provides North Carolinians with a chance to adjust the course of our national direction. Regardless of whether you are a Republican, Democrat or Independent, there is one candidate whose platform and past performance is based on a simple idea- fiscal discipline- and who actually has the ability to get things done in a bipartisan fashion . I want to urge your consideration of Erskine Bowles as our next U.S. Senator. Having watched him perform as Administrator of the U.S. Small Business Administration, Deputy Chief of Staff and Chief of Staff at the White House, I can personally attest to his ability to successfully maneuver in the political arena, especially his accomplishments in representing business interests at the SBA and in the White House. Even more profound than his impact on the SBA, however, was Erskine Bowles' role in
Creative Director/ Asst. Editor Paul Bond pbond@greatercharlottebiz.com Account Executives Bill Lee blee@greatercharlottebiz.com Amy Jo Robinson arobinson@greatercharlottebiz.com Barbara Votik bvotik@greatercharlottebiz.com
balancing the federal budget. Elevated to the President's Chief of Staff in 1996, Erskine Bowles had his unwavering focus on negotiating the first balanced federal budget in nearly 30 years. Negotiating with Republican Senator Trent Lott and Speaker Newt Gingrich over many weeks, their bipartisan efforts hammered out a balanced budget bill that was signed into law on August 5, 1997. As a result, the federal government began to reduce
Contributing Writers Ellison Clary Susanne Deitzel Heather Head Lindsay LeCorchick
deficits; borrow less and interest rates began to fall. Unfortunately, the balancing of the federal budget was short-lived as the effects of the Bush tax cuts and new spending initiatives were implemented. Even former Senator Jesse Helms, R-NC, said in a recent interview published in Business North Carolina magazine : "I would not have voted for the tax cut, based on what I know .. .There is no doubt that the people at the top who need a tax break the least will get the most benefit... Too often presidents do things that don't end up helping the people they should be helping, and their staffs won't tell them their actions stink on ice." With the number of Americans over age 65 increasing five to eight times faster than the working-age population and the concomitant burgeoning of our federal obligations of social security and Medicare, we must be even more vigilant to balance our federal budget and restrain deficit spending except for national emergencies. Erskine Bowles will be a responsible steward and valuable advocate for protecting our national interests, meeting our federal obligations, checking wasteful spending and reducing taxes whenever possible. Our federal deficit has grown to over $442 billion this year. That does not even count federal spending on the war in Iraq. We cannot afford a federal government that continues to borrow from Social Security to finance its spending requirements built into our annual budgets. We must put appropriate limits on spending and get our budget back under control. Having watched him perform, I am confident that Erskine Bowles knows how to serve North Carolina fairly, forthrightly and be fiscally disciplined to keep spending in check, bring budgets in balance and boost the economy at the same time . He knows how to focus on critical objectives and work for progress . He is never too busy to respond to concerns and often follows up directly with a phone call or handwritten note. His community involvement and personal attention to detail is an essential attribute for successfully serving in the U. S. Sen ate. He will work for Republicans, Democrats and Independents. He will make an excellent Senator for North Carolina . biz;
4
o c tober 2004
Contributing Photographer Wayne Morris Greater Charlotte Biz is published monthly by the Galles Communications Group, Inc. • 560 I 77 Center Drive, Suite 250 • Charlotte, NC 28217-0735 704.676.5850 Phone • 704.676.5853 Fax • www.greatercharlottebiz.com.
Press releases and other news-related information, please fax to the attention of"Editor" or e-mail: editor@greatercharlottebiz.com. Editorial or advertising inquiries, please call or fax at the numbers above or e-mail: info@greatercharlottebiz.com. Subscription inquiries or change of address, please call or fax at the numbers above or visit our Web site: www.greatercharlottebiz.com. © Copyright 2004
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Products na med in these pages are trade names or trademarks of their respect ive companies.Views expressed herein are not necessarily those of Greater
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or G alles Communications G roup. In c. No part of this publ ication may be reproduced or transmitted in any form or by any means with out written per mission from the publis her. For reprints call 704-676 -585 0 xI 0 2.
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Charlotte Downtown: Made!Jn Caple, 704-383-1974. Charlotte SouthPark: Tom Hodges, 704-442-6503 . Concord, covering Lake Norman, Mooresville, Salisbury and Albemarle: Bob Suddreth, 704 - 785-2 04 g.
WACHOVIA WEALTH MANAGEMENT Uncommon Wisdom
Legislative and Regulatory Highlights for Area Employees Can Employees See Their Personnel Files?
Do your current or former employees ever ask to see their personnel files? Employers should be aware that this is an issue that varies by state. There are numerous states that have laws that require employers to give employees access to their records, however, in North and South Carolina, employees have no right to see their personnel record3 or files. Personnel files are company property While there are a few documents that the eoployee must be allowed to see (i.e. access to OSHA medical records), the exceptions are limited. Many employers choose to promote good employee relations by allowing current employees to review their own personnel records under controlled conditions, even if not required to do so by law. For example, employees may make an appointment with the human resource department to come and review their file in the presence of a human resource staff member. If employees are not allowed to see their files, it may raise more questions than necessary as to what is in the file. Some companies allow the employees to make a copy of any document while others say that it is company property and copies are not allowed. Most companies do not provide access to former employees. Employers should review the content of the personnel files and decide in advance what their policy will be for access. EEOC Seminar
The U.S. Equal Employment Opportunity Commission (EEOC) is holding their annual Technical Assistance Program Seminar (TAPS) on Thursday, October 21, 2004, at the Hilton Charlotte at University Place. There will be an opportunity to hear presentations and ask questions of experts on a range of topical areas that affect how we operate and compete as business leaders. Some of the topics include religious accommodations, interplay between ADA, FMlA and workers compensation, harassment in the workplace, and immigration. For more information about the seminar, cont2.ct Billy 6
october 2004
specializing in compensation and benefits. Mercer's national survey found that companies are projecting the following increases for 2005: 3.4% for hourly nonunion employees; 3.5% for nonexempt clerical and technical employees, and exempt technical and professional employees and management; and finally 3. 7% for executives. WorldatWork reported slightly higher results for the Southern U.S.
Sanders, program manager, at 704-344-6735 or e-mail him at BillySanders@eeoc.gov. 2004/2005 Wage & Salary Adjustment Survey
Pay increases for Charlotte and surrounding areas are starting to rebound in 2004. A total of 116 companies responded to The Employers Association's 2004/2005 Wage & Salary Budget Adjustment Survey. For companies providing wage increases, the average pay increase for 2004 is 3.39%. This is up from 3.38% in 2003. Survey responses estimate that pay increases for 2005 will be 3.48%. Fewer employers reported that they would either freeze or cut employee wages. Survey responses show that 19 companies did so in 2004. Predictions for 2005 included only 12 companies plan to freeze or cut wages. These results are consistent with the findings of other published wage and salary adjustment surveys conducted by WorldatWork and William M. Mercer, professional or consulting organizations
New Overtime Regulations
The long-awaited final regulations revising the white-collar exemptions under the Fair Labor Standards Act (FLSA) took effect August 23, 2004. Information about the regulations is available on the "Fair Pay" section of the Department of Labor's Web site at www.dol.gov. The new regulations define which employees are exempt from the FLSA's minimum wage and overtime requirements under the classifications of "executive," "administrative," "professional," "computer employee," and "outside sales." For the most part, these regulations had been unchanged for decades.
2004-2005 Wage & Salary Adjustment Survey Employers need to stay current with pay increase trends in order to retain their most valuable employees. The Employers Association 's annual Charlotte area Wage & Salary Adjustment Survey serves as a resource for local companies to compare actual base pay increases for the previous year and projected increases for the upcoming year. Below is a partial summary of this year's survey. Please contact Lauren Merritt at The Employers Association at (704) 522-8011 for more information.
Employee Category
Actual: 6/1103- 5131/04
Projected: 6/1/04- 5/31/05
Companies who gave Wage/Salary Increases
Companies who will give Wage/Salary Increases
Number of Responses 42 29 71
(%)Average Adjustmentâ&#x20AC;˘ 2.91 3.79 3.27
Number of Responses 42 28 70
(%)Average Adjustmentâ&#x20AC;˘ 3.28 3.49 3.37
Non-Exempt Office &Technical Manufacturing Non-Manufacturing Total
40 49
3.10 3.54
38 46
3.56 3.54
89
3.34
84
3.55
Exempt Managerial &Professional Manufacturing Non-Manufacturing Total
41 50
3.24 3.82
39 46
3.53 3.65
91
3.56
85
3.60
Non-Exempt Hourly Production Nonunion Manufacturing Non-Manufacturing Total
Executive and Officer Manufactu ring 24 3. 52 24 3.73 Non-Manufacturing 3.89 37 38 3.80 Total 3.75 62 61 3.77 *Please note: The above "Actual" results do not reflect the 16% of respondents who did not increase employee wages. The above "Projected" results do not reflect the 12% of respondents who will not give employee base pay increases. Source: The Employers Association 2004-2005 Wage & Salary Adjustment Survey
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Compensation • Employees who earn a weekly salary less than $455 will not qualify for the executive, administrative or professional exemptions, no matter what their job duties include. • For persons who are "computer employees," the new compensation criteria are a salary of not less than $455 a week, or an hourly wage of not less than $27.63. • The "outside sales" exemption does not include minimum compensation criteria. (This is the same as the previous rule.) • To qualify as an exempt "highly compensated" employee, the individual must earn at least $100,000 per year, including salary, commissions, and incentive compensation. This total of $100,000 must include a weekly salary of at least $455 per week. j ob Duties Generally, the job duties tests have been adjusted in relatively minor ways; some that are more favorable to employers, and others that make application of the exemption more difficult. • For the "highly compensated" job duties test (see compensation requirements, above) , the employees primary duty must be office or non-manual work, and the employee must meet at least one of the exempt duties requirements of the executive, administrative or professional exemptions. (Constangy, Brooks & Smith LLC) Managing Risk in Human Resource Actions or "How Shall I sue Thee, Let Me Count The Ways"
Managers and supervisors have many responsibilities. One of these is to anticipate and act to avoid, diminish or remove threats that pose risk from an employment standpoint. Managers are trained to carry out this responsibility and perform it best when dealing with threats to the operational aspects of the business. Often, however, managers do not fully appreciate the risks associated with poorly conceived and implemented human resource decisions, including every aspect of human resource
greater charlotte b iz
management from employment to termination. Poor human resource decisions can negatively impact morale, involve costly legal proceedings and result in financial loss to the organization. Thus, managers must be as prepared to evaluate risks associated with human resource decisions as they are to address operational decisions. Following is a review of practices that will improve managers' abilities to better address risks associated with human resource decisions. • Promote Training- Supervisors and managers should receive regular training to familiarize them with state and federal employment law, their rights and responsibilities, and with the rights afforded employees under the law. • Consistent Policies & Practices Organizations should ensure that they have good human resource policies, practices and disciplines in place, that these have been communicated to employees, and that supervisors and managers understand and administer these in a consistent manner. Particular attention should be paid to interviewing and selection, performance appraisal, training, transfer and promotion, job assignments, termination, and reduction in force to ensure that these are carried out in a lawful, nondiscriminatory manner. • Follow Due Process- Due process relates to the methods available to ensure fair treatment of employees. An "open door" policy, one that employees trust and are willing to use, is imperative. ln addition, employee counseling procedures must be in place to help employees meet performance requirements through systematic counseling and use of personal improvement plans. Performance expectations and behavior rules must be communicated, clearly indicating the consequence of violations. Orientation programs and the employee handbook are excellent means to communicate expectations. • Avoid Discrimination - Organizations should ensure that every decision involving employees individually or collectively involves a performance rationale, i.e., productivity, quality, reliability, harmonious
conduct, safety, security, adherence to policy and procedure, etc. • Evaluate Tort Risks - A ton is a wrongful act that results in a civil action. Tons include, but are not limited to, negligent hiring, negligent retention, defamation, invasion of privacy and intentional infliction of emotional distress. Employers are not immune to ton claims and should evaluate these in their risk assessment. • Establish Centralized Control Establish a centralized source for guidance, control and approval of all human resource decisions sucha as human resource manager. • Maintain Good Documentation Documentation is the employers defense if challenged in regulatory or civil proceedings Good documentation entails immediacy, accuracy, agreement, balance and multiple sources, where available. • Seek Outside Counsel - Make use of your employer association and establish a relationship with a law firm experienced in representing employers in employment matters. Seek counsel before action is taken in matters that have potential to lead to governmental proceedings or civil suits. • Demonstrate Good Faith Demonstrate good faith in decisions and actions. Act with fairness. Balance the needs of employees. Comply with both the spirit and letter of the law. This review is not all-inclusive; however, it represents the foundation for reducing the organization's risk in human resource decisions. It may be time for an audit and action plan to create or improve your existing practices. (Western Carolina Industries) biz The Employers Association is a nonprofit Charlotte organization providing comprehensive human resources and training services. Founded in I 958, the Association maintains a broadbased membership of over 700 companies (rom all industries in the greater Charlotte region. The above excerpts were taken (rom The Management Report, the Association's monthly newsletter. For more information, please call Laura Hampton at 704-522-80 II or visit the Web site at www.employersassoc.com.
october 2004
7
joined the Charlotte office of Clark-Nexsen Architecture & Engineering as a senior
architect.
john Rider; Carol Lippert, j ohn Davis and Robert Lesnick have joined Narmou r Wright Associates architecture firm as project managers, and Ryan Carver has JOined as architectural intern. Professional Service Ind ustries, Inc. (PSI), an independent engineering testing firm and one of the largest consulting engineering fim1s in North America, has announced the promotion o f]ohnny Lowe , PE., to district manager overseeing PSis Charlotte, Greensboro and Boone operations, as well as the promotion of Wes Carter to construction services department manager in the PSI Charlotte office. Shield Engineering, Inc. has announced the addition of Douglas Pierotti, PG, as a project manager and james Gamertsfelder as a staff geologist InfoVision's Professional Services Team has announced the appointment of Chuck Wallace as a net-
Benefits Include:
Chuck Wallace
work engineer.
. Cart Fee Commercial Real Estate
• Green Fee
Crosland, a diversified, privately held real estate company, has announced the addi-
• Practice Ccmplex
tion of several new executives to oversee 12
.14-day Adv;m:eTeeTimes • Regent Park GoH Association Events Anc More
GOLFCLUBANDACADEMY
projects totaling 2. 75 million square feet and mo re than $300 million in costs: james
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As Low As $167.00 per mmrth (excluding tax)
leasing associate. NAl Southern Real
Contact Rich AI Jright, PGA Professional, Marketing Manager raregentpark:@comporium.net or call 803-547-8370
addition of Kim W eddington
Estate has announced the to its Property Management Kim Weddington
Department
Residential Real Estate
American Home Mortgage has an nounced three new hires at its new South Park Residential Real Estate: Deanna Valeo and Todd Croy as home loan consultants,
8
october 2JO"
www.g r eate rc h ar l o t te b iz . c o m
andA blavi Louise Gbenyon as sales partner. ::tEJMAX Executive Realty has anruunced the addition of seven new sales asscciates: Sondra Blaser, Corbin Brown, Bar!Jara Rivenbark, Barbara Tay lor, Lisa Wh ~ ts tone, Luda Vaynshteyn and Yuriy Va)"lShteyn. Tra..<el and Tourism Enterprise Fleet Services, a full service fleet management company for businesses with fleeG between 15 and 25 vehicles has prom ot~d Cha rles (Chuck)]. Phipps to group sale: manager in Charlotte. IAann Travel and Cruises has annâ&#x20AC;˘Junced the addition of Cathy Pau l to its COTJ= Orate de partment in business developmen and account management. Bugness and Professional Services Womble, Carlyle, Sandridge and Rice PLLC has announced the addition of 4 lawyers in the firm's Charlotte office: Bill Finlay B: ll Finlay and j oie Tenholder in the Capital Markets Practice Group, Robert Phocas in the Environmental Practice Group, and A komea PokuKanKam in the Real Estate Joie Ten holder Practice Group.
WHY WE EXIST. We a rc pass io nate a bo ut ad vis ing close ly he ld bu s in esses a nd th e ir ow ne rs in d efin ing a nd ac hi eving th ei r o bj ec ti ves . Le t us d o th e sa m e fo r you .
W I SHART N ORR. I S H E N
I N GE R &
PI TTMAN
AT TO R NEYS AN D COUNS ELL O ilS AT I AW
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ww w. w nhpl aw.co rn
Dee Mencer, director of business development for E[iciencyLab, which specializes in simplifying how organizations manage in formation for easier use and accessibility, has been named to the Public Policy Committee of information Technology Charlotte, part of the Charlotte Chamber. Michael P. Thomas has joined the Hickory law firm of Patrick, Harper and Dixon as an associate attorney Frances L. D'Amalo has joined Pea Organizing D eâ&#x20AC;˘ Mencer Services Inc. as an organizing associate with responsibilities including )-
gr e ater ch arlo tt e b iz
oc t ober 200 4
9
business organizing, organizational and clutter removal coaching, and residential organizing. Premier Resources, a full service staffing agency specializing in professional office support, has announced the launch of its new Web site at wwwPremierResourcesNCcom.
David Cob urn has joined Luquire George Andrews (LGA), a full-service advertising, marketing and public relations agency, as vice president, public relations. BOLT has added two graphic designers to its staff:
Sally jenkins for graphic design and brand development for fashion clients and Andy Kiser for fashion retail and home improvement accounts. The Printing Office in
Solutions to all your technology needs
Charlotte has officially
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lntegraphx and relocated its Andy Kiser
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Information Systems play an integral role in business today. Charlotte Help Desk's team of engineers and consultants provide high quality, cost-efficient IT applications and services designed to help your business stay ahead. Services include: • Help Desk ond Knowledgebase • An~virus Proternon • Network Integration • PC/Network Support • WAN/Fi rewall Support
• • • • • •
Network Security VPN/Remote Access Data Cabling Database Services Woo Development Dynamic Marke~ng
ing business services, technology, professional services, healthcare and financial services, has announced that E. Brooke Weihe has joined the company as a project coordinator. Government/Non-Profit
The Mecklenburg County Department of Social Services has been named one of North Carolinas Top 40 choice employers, according to Carolina Parenting, Inc.
Todd Taylor, an attorney
Help Desk includes: • Unlimited knowledgebase access • Remote support • Monthly or quarterly preventative maintenance packages • lntera~ve woo-based training • Woo based access portal
with Womble, Carlyle, Sandridge & Rice, PLLC , has been appointed to the board of directors of the Todd Taylor
Business Expansion Funding
Corporation, a non-profit organization chartered to act as a conduit for the Small Business Administrations 504 Loan Program.
10
october 2004
www .greate rc h arl otte biz. com
rAT
Pat E. Grigg, retiring director of the Mecklenburg County Women's Commission,
(
has been honored at the Women's Equality
OOJ[Q
II·A'd \. (iS~R\'1( 1!-tl'\( l>ui4iwgrm,r,~.;.·<"
• Comracr Cleaning Service • Carper Cleaning • Floor Maintenance • Janitorial Supplies
Day observance sponsored by the Women's Commission Advisory Board and the Mecklenburg County Department of Parks and Recreation. Charlotte Museum of History President and CEO Pamela Meister has been honored at the Louisiana Association of Museums Annual Luncheon Pamela Meister
and 25th Anniversary Celebration in Lafayette,
Louisiana, where she served as executive dire.:tor of the Louisiana Association of Museums from 1990 through 1995. Manufacturing
Ehren-Haus Industries, a custom manufacturer and supplier of quality formed and fabncated parts, products, molds and solutions has welcomed Ted. Mosley as sales manager.
Trui i Lanond Financial and Insurance
Gregory Jones and William "Wes" Sugg have
WI 'lr.lger. Training & Developrr ent Sie-ren3"Vestnghou~e PC\~~ar C·::rporation
been elected senior vice presidents at First Citizens Bank in Charlotte. G r~gory Jones
Uwharrie Capital Corp. has announced that john
Ycur employees ensure your success. Trail them welL
Mcintyre has joined Bank of
Let us profile your operations and identify a eas o ~ rtapped potential.
Stanly as senior vice president and branch leader/ relationship manager. William Sugg
Trainllg available for:
CM Black Construction
• Front _ine Leadership
• Customizec La1guage
• Customer Service
• Work-Life Ba lar ce
ground breaking of the new
• Asses3ments
• ComputerT a·
First Charter Wilmar
• Manu-=acturing
Co., Inc. and First Charter Bank have celebrated the
ng
Center located in the heart of JoiTl Mci ntyre
the Concord business district.
Fo r m ore in.fo -mation about corporate training o]l-;'04 330.46EO o- e-mail ccq:::orate.training @cpcc.edu
Technology
US LEC Corp., a super-regionaltelecommu::lications carrier providing integrated
11m CENTRAL PIEDMONT
voice, data and Internet services to businesses
~
and enterprise organizations throughout the
::::crporate & Crntinuing Education
COMJv\UNITY COLLEGE An equal opportunit).- .Jfi11uti ve 3 :!ion instituion.
Eas_em United States, has announced that it recently surpassed the 20,000th customer )>-
greater charlotte biz
:Jctober 2QO..o.
II
Mark Ennis has joined
A.T. Distribution, Inc. (ATD) as CCTV specialist where he will be responsible for close circuit television products and services.
Education/Staffing New MBA Students at Wake Forest University's Babcock Graduate School of Management have learned teambuilding skills as they participated in the Richard Petty Ultimate Racing Experience at Lowes Motor Speedway in Concord, marking the first time the university and the Babcock School have used the speedway for a team-building event.
Retail/Sports/Entertainment The Charlotte Bobcats have joined with Coca-Cola in a partnership that makes CocaCola the official soft drink provider for the NBA's newest franchise. The multi-year agreement includes soft drink exclusivity, extensive marketing and promotional activities and family elements that include an interactive arcade area in the new arena in Uptown Charlotte. Food Lion LLC has opened the fourth of five pilot stores to test a new store concept, design and brand name, "Bloom, A Food Lion Marketâ&#x201E;˘ ,"in Harrisburg, N.C. Carolinas Sports Entertainment Television (C-SET) has named Tom
Wemte as the television host for live broadcasts of the Charlotte Bobcats' inaugural season games. WFAE 90.7FM , Charloues NPR News 1001
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USA Gymnastics Region 8 has hosen Charloue to host its 2005 Men's Championship, March 31- April4, 2005. j eff Fu ller has joined The Park Hotel, a Four-Star, Four-Diamond property and member of Preferred Hotels & Resorts Worldwide, as general manager. Edwin Watts Golf, a golf retailer since 1968, has announced the opening of three new stores in the Charloue area on South Boulevard , Pineville Matthews Road and East Independence Boulevard. Chad McCumbee has landed the role of Dale Earnhardt Jr. in the upcoming ESPN film , 'The Dale Earnhardt Story" Shot mostly in the Concord area, the film has been scheduled for release sometime this fall. Italian eatery, Caffe' Siena Trattoria e Barra, has opened on College Street. Awards and Achievements Queens University of Charlotte has been ranked third among North Carolina private master's universities, and tied for 26th overall , in U.S. News & World Report's justreleased 2005 list of Best American Colleges. Lyerly Agency has been awarded two 2004 American Graphic Design Awards by a nationwide panel of judges. The first award has recognized a billboard for Charlottebased Wyndham Capital Mortgage, and the second award has recognized the firrn for excellence in communication and graphic design for work on an event invitation for Child Care Resources, Inc. Kennedy Covington, LLP, has been honored for the second consecutive year with the title of the top corporate law firrn in Charlotte by Corporate Board Member magazine. Ruth Dyda, Concierge Desk travel consultant at Mann Travel & Cruises, has been named to Travel + Leisure's annual AList, which identifies the top 125 travel agents in the United States and names their areas of exP-ertise, for the second consecutive year. bi
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To be considered for indusion, please send your news releases and announcements in the body of an e-mail (only color photos attached) to editor@!greatercharlottebiz.com, or fax them to 704-676-5853, or post them to our business address - at least 30 days prior to our publication date.
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oc tober 2004
3
North Carolina Economy Improving Modestly Excerpts provided by John E. Connaughton, Ph.D., Forecast Director, Carolina Economic Forecast
BELK COLLEGE O f BUSINESS
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he Nonh Carolina economy is ~ect.ed to increase by 2.1 percent during 2004 according to UNC Charlotte economist john Connaughton in his TIAA-CREF/UNC Charlotte Economic Forecast for Nonh Carolina. This figure represents a modest improvement over the meager 1 4 percent increase in Gross State Product (:JSP) that Nonh Carolina experienced during 2003. 2004: .C. "considerably slower" than U.S. growth North Carolina's expected economic growth during 2004 is likely to be considerably slower than the level posted by U.S. Gross Domestic Product (GDF). Ov;:rall, the: United States economy grew l:y 3.0 perce::1t during 2003, while North Carolina real GSF grew by 1.4 percent. For 2004, U.S GDP has recorded a 4.5 percent real growth rate in the first quarter and a 2.8 percen: real growth rate in the second qua:ter, while North Carolinas output growth so hr this year is 2.2 percent in the first quarter and au expected 2.3 percent in the second quarter. "The overall expansion of the state's eccnomy during the three years of econo:nic recovery has been slow," Connaught.Jn says. "While most of North Carolina's industrial sectors have turned the comer, several of the state's traditional manufacturing industries are still in recession. " For 2004, nine of the state'~ eleven major economic sectors are expected to experience output increases. Sectors that are expected tc experience the strongest rates of growth are: • finance, insurance, and real estate (FIRE) at 3.8 percent; • retail trade at 2.8 percent; • services at 2.6 percent; • durable goods manufacturing at 2.7 percent; and • wholesale trade at 2.2 percent. 14
october 2004
Four other sectors are expected to experience growth during 2004, but at rates lower than the overall state growth rate of 2.1 percent. These sectors are: • construction at 1.2 percent; • transportation, communications, and public utilities (TCPU), 1.2 percent; • government at 1.1 percent; and • nondurable goods manufacturing at 0.2 percent. 2004 job outlook: 66,000 more overall, but losses continue in manufacturing Overall, the onh Carolina economy is expected to add 66,200 net jobs during 2004, an increase of 1.6 percent over the 2003 level. Both nondurable goods manufacturing and durable goods manufacturing are expected to experience significant job declines during 2004. Five sectors of the state economy are expected to experience job growth during 2004: • services at 4.4 percent; • finance, insurance, and real estate at 3.4 percent; • retail trade at 2.5 percent; • transportation, warehousing, utilities, and information (TWUI) at 1.4 percent; and • wholesale trade at 0.6 percent. This employment growth should have a favorable impact on the state's unemployment rate during 2004. By March 2004, Nonh Carolinas seasonally-adjusted unemployment rate was 5.2 percent. March also was the first month in the past two years during which the rate was lower than the United States rate of 5.6 percent. By December 2004, the state's unemployment rate should decline to 4.9 percent. "For the past two and one-half years of this recovery, North Carolina job growth has been sluggish," Connaughton notes. "During the middle half of this year, job growth has begun to pick up and we have begun to see the first significant job growth in three years. " 2005 fo recast: State will grow, but slower than 2004; still will underperfomJ U.S. growth For 2005 , the North Carolina economy should continue to grow, at a pace slightly
slower than the 2004 rate. Real GSP is expected to increase by 1.4 percent over the 2004 level. For 2005 , Connaughton believes that the North Carolina economy will again under-perform U.S. GDP growth. Consensus estimates of United States real GDP growth in 2005 range between 3.0 and 3.5 percent. Seven of the states eleven economic sectors are forecast to eA.rperience growth during 2005. The sectors with the strongest expected growth forecasts are: • durable goods manufacturing with a projected real growth rate of 3.6 percent; • services with a projected real growth rate of 2.5 percent; • wholesale trade with a projected real growth rate of l. 7 percent; and • retail trade with a projected real growth rate of 1.6 percent. Three other sectors are expected to grow during 2005 , but at rates lower than the 1.4 percent overall state level. These sectors are: • finance , insurance, and real estate (FIRE) with a projected real growth rate of 1.3 percent; • transportation, communications, and public utilities (TCPU) with a projected real growth rate of 1.0 percent; and • construction at 0.4 percent. As the North Carolina economy continues to grow slowly during 2005, it will continue to add jobs. The state economy is forecast to add 30,500 net additional jobs during 2005. This represents an increase of 0.8 percent over the December 2004 level of employment. wwwbelkcollege.uncc.edu!forecast biz john E. Connaughton is professor of economics in the Belk College of Business at UNC Charlotte. He is director of the Carolina Economic Forecast, funded by TIAA-CREF and published quarterly by the University of North Carolina at Charlotte. The Forecast provides both a review of North Carolina's recent economic performance and an estimation of the state's future growth. Dr. Connaughton earned his Ph.D. and master's degrees from Northeastern University and his bachelor's degree from Boston State College.
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Health Insurance Premiums See Double-Digit Increase According to Survey â&#x20AC;˘ Premiums Increased at Five Times the Rate of Growth in Workers' Earnings and Inflation â&#x20AC;˘ About Five Million Fewer Workers Covered by Their Own Employer's Health Insurance Since 200I Employer-sponsored health insurance premiums rose 11.2 percent in 2004- the fourth consecutive double-digit annual increase, pushing the cost of family coverage under the most common type of plan past $10,000, according to the 2004 Annual Employer Health Benefits Su rvey released by the Kaiser Family Foundation and Health Research and Educational Trust (HRET). Premiums for employer-sponsored health insurance rose at about five times the rate of inflation (2.3 percent) and workers' earnings (2. 2 percent). In 2004, premiums reached an average of $9 ,950 annually for family coverage ($829 per month) and $3,695 ($308 per month) for single coverage, according to the survey Health maintenance organizations (HMOs) are the least expensive type of plan at $9,504 a year for family coverage and $3,458 for single coverage. Preferred provider rganizations (PPOs), the more common but more expensive type of plan, rose to $10,217 for family premiums and $3,808 for single coverage. Since 2000, premiums for family coverage have risen 59 percent. "The cost of family health insurance is rapidly approaching the gross earnings of a full-time minimum wage worker," according to Drew Altman, president and CEO of the Kaiser Family Foundation. "If these trends continue, workers and employers will find it
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i::1creasingly difficult to pay for family health coverage and every year the share of Americans who have employer-sponsored health coverage will fall." "Since 2000, the cost of health insurance has risen 59 percent, while workers' wages have increased only 12 percent. Since 2001, employee contributions increased 57 percent for single coverage and 49 percent for family coverage, while workers wages have increased only 12 percent. This is why fewer small employers are offering coverage, and why fewer workers are taking-up coverage," according to jon Gabel, vice president for Health Systems Studies at the Health Research and Educational Trust. Survey highlights include: Worker contributions. This year, workers on average contribute $558 of the $3,695 annual premium cost of single coverage and $2,661 of the $9,950 cost of premiums for family coverage. Average employee contribu:ions for single coverage are statistically
are admitted to the hospital. The proportion of covered workers facing a $20 co-payment for an office visit increased to 27 percent in 2004 from 19 percent in 2003. Consumer-driven plans. While about lO percent of all firms offer a high-deductible plan to covered workers this year, only about 3.5 percent of those firms offer a personal or savings account option along with a highdeductible plan. These accounts permit employers (and sometimes employees) to make pre-tax contributions, which can be used by employees to pay for routine medical care. The survey finds that employers, particularly larger firms, are interested in highdeductible plans (a plan with a deductible of at least $1,000 for single coverage). Altman points out, "You have to look over the past several years to really understand why Americans are so worried about health care costs. just for premium contributions alone, families are paying $1,000 more this year for their health coverage than they paid
in 2004 , premiums reached an average of $9 ,950 annually for
l
family coverage ($829 per month) and $3 ,695 ($308 per month) for single coverage , according to the 2004 Annual Employer Health Benefits Survey.
unchanged from 2003, while average employee contributions for family coverage grew by lO percent- a similar rate to the average overall premium increase. The percentage of premiums paid by workers is statistically unchanged over the last several years, at 16 percent for single coverage and 28 percent for family coverage. Cost-sharing. Cost sharing rose modestly in 2004 compared to the larger increases observed in recent years. Most covered workers are in health plans that require a deductible be meL before most plan benefits are provided. In PPO plans, which cover more than half of all workers with health benefits, the average deductible for single coverage is $287 for services from preferred providers and $558 for services from nonpreferred providers, about the same as in 2003. In addition, half of covered workers must either pay a separate deductible (average $224) or pay additional co-insurance (averaging 16 percent of the costs) when they
in 2000. More than any other factor, these out-of-pocket cost increases are what's driving voter concern about health." Facing continued premium increases, many employers say they looked to make cost-saving changes in the past year. When asked about future plans, about half (52 percent) of large firms (200 or more workers) say they are "very likely" to increase employee contributions in the next year. In contrast, just 15 percent of small firms (3 to 199 workers) say that they are "very likely" to increase employee contributions next year. "Employers continue to look for ways Lo control the rising costs of health insurance , with more than half shopping around for a better option and one in six actually changing insurance carriers," according to Gary Claxton, vice president and the direcLOr of the Health Care Marketplace Project at the Kaiser Fami ly Foundation. Excerpts from the 2004 Annual Employer Health Survey; more information at www.kff.org. biz
october 2004
IS
susanne deitzel
EXPANDING CHARLOTTE'S EDUCATIONAL HORIZONS:
MONTREAT COLLEGE leading, Serving Institution Seeks to Develop Servant-leaders Charlotte grows into its new identity of world class city, its leaders have placed a gigantic emphasis on growing the intellectual capital of the region. The University of North Carolina at Charlotte has become a significant player in research and development, CPCC has excelled in its specialized corporate education offerings matching business needs, and johnson & Wales has made a high-profile foray into the market with an urban university offering technical training. Yet, as these well-known institutions grow into their own niches, there are other smaller educational outlets that offer their own special attributes, no less enhancing the offerings of the city. Such is the aim of Montreat (pronounced mon'-treet) College, the Charlotte campus of which is located in I..akePoint Business Park offTyvola Road. Montreat College is a Christian college founded 88 years ago in the Presbyterian
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tradition. It offers fully accredited associate's, bachelor's and master's degrees in business and education. While Montreat's program provides a deep exposure to Christian teachings, Christianity is not a prerequisite, nor a required aim for attending the college. According to Dr. Dan Struble, president of the college, Montreat seeks to extend educational empowerment to people who have for whatever reason been unable to achieve it through traditional schooling. Says Struble, "There are a variety of reasons people are unable to complete a traditional education. Whether it is a career, family, or financial considerations, man y people encounter s tumb ling blocks. It is our mission to provide a learning environment for these people, to make them educationally prepared, as well as philosophically motivated to serve the community." )-
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Struble received his B.S. degree with nerit in aval Architecture from the United 51.ates Naval Academy He went on from there to earn his masters in Comparative Folitics and his coctorate in American Folitics from the University of Southern Californ ia . After his own schooling, Struble returned to teach at USC and Occidental College, where he honed his talents for fundraising, and revisited the Naval Academy where he would breathe new life into the S(hool by creating the Naval Academy Foundation. During this time, Struble helpec increase alumni contributions from $5 to $6 million annually to over $40 million dollars, a3 well as co-designing the present $225 milli.::m campaign for the foundation. Of his relatively new position at Montreat (he started in j anuary) , Struble says, "Montreat utilize.; my academic experience from USC and Occidental College, my fundraising experience from Occidental and the Naval Academy, and my emphasis on fc.ith in my personal life. I think many stuclzms feel as l do, that Montreat allows me to be a whole person. "
18
october 2004
A Flexible Format In an increasingly dynamic workplace, Montreat provides an educational format that accommodates the needs of adults seeking to improve their business acumen, receiving a higher degree, getting a promotion, or pursuing a different skill set to replace outdated or obsolete competencies. This is especially notable in industries such as textile and furniture manufacturing which have been hardest hit in the local economy Says Deborah Wright, Montreats Charlotte regional director, "It is true that we have definitely seen an increased enrollment as a result of the downswing. But, it is at Limes like this we are glad to be able to offer a powerful, positive solution to help people continue to pursue their dreams." Montreat's program is designed to not only provide a program which is practical in terms of scheduling for adult students, but also to provide a robust peer-support system from which to glean vicarious experience and camaraderie. Explains Struble, "Our programs are structured to last from five to eight weeks, with one night of class and one night of study group per week. Upon entrance to the school, a student is assigned a cohort of 16 to 22 students that will be the peer group that person will travel with during the course of his or her program. Within that cohort, there are an even tighter-knit group of three to five students that meet in the study group. This way, the students graduate with the people they have shared a relationship with during their course of study" This peer group approach appears to increase the benefits of the course of study exponentially According to Wright, the non-traditional student is by nature committed and dedicated to making the most of his or her experience. "Add to that the desire and ability to apply that persons unique set of real-life experiences, jobrelated or otherwise, and you have not only a great student but an invaluable resource for the rest of the cohort." She adds, "We have a remarkable faculty here, but we still say that in a class of 17 students and one professor, we actually have 18 insnuctors. That is how our classroom community is designed, and one of the things that makes it truly special." Another unique aspect of the college is its
profound dedication to creating community leaders with a strong sense of self, and a strong commitment to ethical practices by virtue of its religious affiliation. Explains Dr. Struble, "By being a Christ-centered institution, we believe in living a life dedicated to service. jesus taught that in order to be a leader, you must first be a servant, and we attract both faculty and students that espouse similar values." Struble says that Montreat students are, "unique, God-created individuals, not numbers. And that is the treatment they receive from our staff and curricula." He adds, "We invite people of all faiths. Some seek us to strengthen their faith and integrate it with their career, some come to us and find Christ
Montreat College
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Charlotte Campus MONTREAT (School of Professional C 0 L LEG E and Adult Studies): 4135 South Stream Blvd., Ste. 200 Charlotte, N.C. 28217 Phone: 1-800-436-2777 Principal: Dan Struble, President Other Campuses: Montreat, N.C. (70acre main campus, traditional program); Asheville, N.C. (School of Professional and Adult Studies); Black Mountain, N.C. (89acre campus) Founded: 1916; Charlotte campus 1994 Enrollment: (2003-04): I,036: 461 in School of ArtS & Sciences; 575 in School of Professional & Adult Studies Funds Raised Annually: $3 million Endowment: Near $1 I million Description: Private not-for-profit accredited college offering associate's, bachelor's and master's degrees Accreditation: Commission on Colleges of the Southern Association of Colleges and Schools; National Council for the Accreditation ofTeacher Education; International Assembly for Collegiate Business Education Affiliation: Montreat College is affiliated with the Presbyterian Church (U.S.A) and has a covenant relationship with the Presbyteries ofWestern North Carolina and East Tennessee, and with the Synod of the Mid-Atlantic; member institution of the Council for Christian Colleges and Universities www.montreat.edu
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T,e Char lotte C ampus of Montreat College .
fc路r thernsel.,es, but others simply come for the strong e:l.ucational pmduct that we offer." Learning and Leadership
Struble pomts out that Montreats strong snit is busiress, which makes it a great match fc路r the Charlotte com..11unity. "There is a g-eat need rnd desire for busir_ess leaders in the commu1iry, c.nd teadrng the leaders of
tomorrow is a great way to impact the coiJmunity in a positive way Business is a formidable force that shapes the world wr: live in and we can create a positive impac by preparing Christian leaders." To that end, Struble says that one of h s greatest ambitions is to engage Charlotte leadership so that Montreat can provide t路'le best intellectual capital for the region.
"We aim to serve people and their communities by offering the best educational resources, in a format that works best to accommodate their lifestyles, and to create a positive impact on the world as a whole. And, there are many ways to do that even outside of providing a degree program." Montreat extends its educational resource; to businesses and their employees, oftentimes generated by the interest of its students. Explains Struble, "We had a student studying a computerized strategic- planning model that he thought would be an asset to his company We coordinated with that company to provide a class that eventually led to a greater understanding of decision-making company wide. For rising management, it represented a method of problem solving that would help them achieve company goals. For upper management and lower-level personnel, it opene an avenue of communication that facilitated understanding of the decision making process. We feel this to be a perfect example of the service we provide." Struble says that by working with the business community, Montreat hopes to develop new programs, modify its offerings, )>-
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october 2004
19
puses (Montreat, Black Mountain, Asheville,
Montreat History
and Cherokee). We are establishing strong
The beauty and tranquility of the Blue Ridge Mountains led Congregationalist minister John C. Collins to form the Mountain Retreat Association in 1897 "for the encouragement of Christian work and living through Christian convention, public worship, missionary work, schools, and libraries:· By 1907, Montreat had been purchased for the Presbyterian Church Jn the United States, and, during the ensuing years it was decreed that the property be used for a school during the academic year. The Synods of Appalachia, Georgia, Alabama, North Carolina, Tennessee, and Virginia elected trustees who met in Montreat in 1916 to establish the Montreat Normal School, a four-year preparatory and two-year college combination. Montreat Normal School continued to grow over the years.Throughout times of war, economic fluctuations, and rapid social change, the school sought to provide a Christian setting in which to prepare young women to become teachers. In 1934, Montreat Normal School was renamed Montreat College.The college grew as its academic program expanded. It began a four-year degree program in 1945.After 14 years as a four-year women's college, the college was restructured in 1959 as a coeducational junior college and was given a new name, Montreat-Anderson College. In 1986, the college board of trustees, realizing the demands and changing circumstances in higher education, made the decision to become again a baccalaureate institution. Montreat became an accredited baccalaureate institution. lt returned to the original name of Montreat College in 1995, reflecting the Montreat College of today, a four-year college with several growing campuses and a graduate program. In June 1998, Montreat College was accredited by the Commission on Colleges of the Southern Association of Colleges and Schools as a level three institution to offer the master's degree in business administration.
lines of communication in the community, and have developed the first stages of a strategic planning coordination center on our Web site. There, interested parties, such as alumni, students, community leaders or businesses can fill out surveys, suggest new programs or new sites, and receive information on how they can contribute to our mission, or how we can best serve them. " Struble hopes to complete th is important process during the 2004-05 academic year with planning currently underway and fina l trustee approval in late April 2005. The plan will look out as far as 2015. Comments Struble, "Fund raising is simply developing relationships with people who have a d ream to help their fellow man, and working with a vision to develop programs and services to make that dream a reality Charlotte has a real desire to nurture, and a sense of loyalty to its workforce and the community We look forwa rd to working with our leaders to facilitate these ideals. "
:acilitate on-site company opportunities, and
acumen , high ambition, and heightened
.~enerally
problem solving skills. Plus, we hope expo-
keen desire to be as efficient and as p roduc-
sure to Montreat's Christian environment will
tive as they can . Charlotte leaders have a
play a pan in heavily rooted , positive busi-
reputation for giving back to the com mu-
take whatever measures best accom-
:nJdate and serve the community Faith in the Future
''We have a unique way to serve
ness ethics," comments Struble.
Struble concludes, "Businesses have a
nity Our mission and our students are
At the heart of Dr. Struble's duties is
ded icated to bettering ourselves and the
::::harlotte. We attract and educate a core
developing his own strategic planning initia-
community we serve. These three fac tors
.~oup of adult learners who are looking to
tive to gam er awareness and support of the
working in concert provide a great future
answer their dreams. They have a very strong
school: "We are embarking on the strategic
for the relationship of us all." biz
3etse of self and high expectations. Our stu-
planning process to determine the needs in
:irnts leave Montreat with a strong business
the Charlotte m arket and our other cam-
Susanne Deitzel is a Charlotte-based freelance writer.
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j:xn Cao ·u3 ten aiL. ofcer of the -::ompa.-r:r 3hcc 198 ~ l-e ld .he :orpora:icrs trenuJlts fasbJnl chisi·=·n tdore becoming clu.· Jpening offin:r :::·f ·:oq:o~ation at la::-ge in 190)6 i1 I 099. <e c:::o < the rcins from 1lS faL1er. -.~nd Ca.c Jr., ~nd :::>ecame p-o:9dent .anJ :Tef -::;:e:uriv~ dli-:e.:. ;\.rd earlier _bis year he wasna-r_ed chai.nn ~ .,.,~u. as his Luher firul >~eu-cd becciiLr_g chair:r.an eme-itus. Thcugt- 1-e has f::J:Ell_ att:lined the status he ha5 3ou~h. _oh- Cato in9sts his ascen::la1C) -va~ not assur::d. ·= w:s not su~ _t wc•uld :1a"J JE r,' h: ~ays. ':T,:::-J really need the boorc CJf c.ire:::c•rs c f::el l i~<t: you're the best :anc.d1te I "V:Jrkd en i:." TtGf. ·"·c.slon5 c"',jd~~- s~.ys Robert \V. ~Bot) EraJ :ha ...- Jr_ M:!o h~ served 0"1 th~ :o;npr.y~ :::>ocd fer a :k:::ac~ . 'john dis?lryell.a c::no:em f•1L d2t.Jil,"' Bradshaw says. 'fu\i<.~ ,~ --:c as a ..a;c. "Lame ·.vas sometioes a JU ·den fo- ·m in J-a:: re fe:: he had lC• ::>roveh~L'
TI-e: ~c. :nerr te::; c.pp~ciated th high ·ta 1dads } 1!-r. :=ar::. ~ b r Lnself. Br.:a:i3haw 3a}-S, rui~ing thi J-:.e ) ·::>ung~r Cc.to ":.as Jo-,e ;cr:;vel ~ ' since tabng the helm. lndcec, Ca:o. no.v )c., ha3 preside:l c•ver
most of Cato's dividend growth a :'our-fold increase since 1997. He guided a ·-,uyback of more than 8.5 million shares since 1998 and moved the stock listing from NASDAQ to the ew York Stock Exchange in jL-nE 2002. These days, Cato and Its Fa~hi:.m! stores are opening at the rate of about 80 a year, half in the Southeast where the ::hain made its name, and half in the North. YLdwest and West. Presently, Cato employs C\'er 9,000 people, operating 1,132 stores m }8 states. john Cato wants to maintair sto~ady growth and increase earnings and dividends by 10 percent annually over the lng tem1. For 2003, the company did over $730 million in sales and Cato says he w-:mts that volume to grow by $50 million to ~70 million annually "We've hit that number up tmullast year," he says. "There was a very diffic_lt economy out there and people were more bJdget conscious. We are in a lot of small t:wns that lost jobs when manufacturing !=~ants closed or downsized." He conjures up his customer again: "Tight budgets, gas prices going up, thGf. v:ould affect her a lot more than somebody ek," he muses.
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Success begins with a solid foundation. 1lu: Bclk College MBA ar U C Charlotte offer.;: Flc."Cibility. .. • MBA program dcsignL'li fo r working professionals • classes o n the main campus and in uptown Charlo tte • evening d asscs that meet o nce a week • adaptable cour.;e loads Fac11lty.. . • 68 graduate facul ry with PhDs • largest taculry of an y C arlortc MBA program Cormmmity Connections.. . • MBA students representing 200 + companies • executive guest spe--a.<cr> sharing man agement experience • networking o pportuni ties with alumni and business leader.; AACSB Accreditntio11. . . • n1ost pres tigio us nati o al and international accrectitatio n
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"That extra $10 a week coming out of a tight udget just made it a softer economy for us." As businesses slowly start rehiring, Cato ~ooks for a gradual improvement. 'That adjustment period is going to take a while even though the sales numbers have started to look better tbn our 2003 trend," he says. Indeed, The Cato Corporation reported net income of $8.2 million for the quarter ended july 31, 2004, up from $7.7 million from the year-previous period. One analyst who follows the company regularly recently upgraded his assessment of Cato stock to "hold;" it had been "sell." john Cato attributes the performance improvement mainly to fewer price markdowns. That's a sign that customer purse strings are loosening, he believes, and he and his executive team work diligently to give customers reasons to buy Low prices every day rather than frequent up and down "sales" is one strategy he feels is working. "She doesn't have to wait to figure ou when is the right time to buy fashion," he smiles, seeing his customer in his mind's eye. "Any time is right, when il's convenient for her." Fashion Conscious; Customer Service
Under Cato's watch the Cato stores have become more fashionable and that has helped the bottom line, as has increased emphasis on proprietary or Cato-labeled ilems. The company also is paying more
attention to European trends, to stay in the fashion vanguard. It's part of offering exceptional value for popular prices, john Cato says. "We offer fashion at what department stores call opening prices. Our customer is looking for prices under $20. She's looking for an outfit for under $30. It might be a dollar or two more than at national discounters, but we have better quality, more detailing, better fabrics and better fit. " "A lot of my work is related to thinking time, trying to think through what's been learned that day," he says. "I take all the pieces of information and try to put together a picture of how the business is changing." He thinks often about giving his customer more reasons to shop at Cato. Top service and an inviting atmosphere are important elements, he believes. Most Cato stores range in size from 4,000 to 6,000 square feet and newer ones feature natural wood decorative elements. They carry junior, misses and plus size fashions, as well as shoes, accessories and gifts. They typically employ three or four welltrained associates. It's critical, he says, that these associates make shopping as easy as possible. "Absolutely, she gets more customer service," he adds, again speaking of the Cato customer. Cato is also particular about store location. "It's very much about convenience," john Cato maintains. The company's real )o-
Not Your Everyday Hand-Me-Down! Wayland H. Cato, Sr. and his sons, Wayland H. Cato, Jr. and Edgar T. Cato, co-founded The Cato Corporation in 1946, focusing, at first, on opening Cato Stores in small towns like Sumter and Mullins, S.C. Wayland H. Cato, Sr. had managed stores in Georgia and South Carolina for United Merchants and Manufacturers. Within two years of starting the company, the Cato family was running a chain of seven stores.A year later, the company passed $1 million in sales. For its most recent fiscal year ended January 2004, it had revenues of $73 I .8 million and profits of $31.4 million. Wayland H. Cato, Sr. died in 1974. Co-founder Wayland H. Cato, Jr., former chief executive officer, retired as chairman of the board in January 2004 and has been named chairman emeritus. Mr. Cato had served on the board since 1946, held the position of chief executive officer from 1960 to 1999, and had served as chairman since 1970. Co-founder Edgar T. Cato, former vice chairman of the board, retired from the board of directors in January 2004 and has been named vice chairman emeritus. He had served on the board since 1946.
Cato's carries many handbags. Some allow you to personalize as you accessorize.They also carry a selectio n of jewel ry, watches, coats and lingerie.
greater charlotte biz
John Cato, son of Wayland H . Cato, Jr., has been president and chief executive officer of the company since 1999 and is now the company's chairman as well . Under John Cato's leadership, the company has adopted a successful everyday low price strategy and upgraded the quality, fit and fashion content of its merchandise.
october 2004
25
estate people scour cities and towns for locations in smaller shopping centers anchored by a big retailer, such as a Wal-Mart Super Center, or by the dominant grocery store in the market. That makes it easier to shop for fashionable clothes on the same trip to the discount or grocery store. The importance of convenience is heightened for John Cato because he knows his customer cross-shops at department stores as well as discounters. Both categories have improved customer appeal, squeezing out the small, specialty retail stores. Fashion Bug, based in Philadelphia, is one of the few direct competitors left. "The winners offer the best values," John Cato says. "Dad talked about that a lot."
headquarters in southwest Charlotte. It's efficient and cost effective, John Cato says. "Everything goes through here," he emphasizes as he points out the window of a second floor conference room to the warehouse that employs about half of the 700 associates in Charlotte. Near the window is a map of the United States bristling with hundreds of multicolored pins to mark the cities and towns where Cato operates stores. "We shoot the merchandise out by truck and we get store shipments out every week," he says, adding "that keeps inventories fresh. We're able to get products to stores in a couple of days." The one distribution center avoids duplication of operating several, he says, so its more economical.
Wardrobe Changes; Hemming in Costs
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"I look forward ," John Cato smiles. "You're always changing and changing the business." One challenge is promoting the Cato brand in a footprint that extends as far north as Michigan and west as Arizona. Outside the southeast, communicating the firms mantra of fashion and value is vital to attracting customers. "We're finding clothing tastes are similar in new territories, but we are encountering the issue of cold versus warm," he says. "We adjust what we offer to the harsher winters in the orth. We sell more dresses in the South than as you go north. " Another way to maintain prices that customers recognize for value, John Cato says, is to operate as efficiently as possible. "We put in a merchandising system several years ago which really gave us the backbone to offer better size and color distributions to stores and to collect better buying preference information,"' he says. "We're constantly investing in new technology that helps lower our cost to operate." Technology such as this makes everyone in the Cato organization more productive, he adds. "You learn as you go," he says, and technology promotes that process. "You read your numbers and try to understand the subtleties." For 2003 , the firm invested $21 million in stores, systems and infrastructure. In 2005, the chain will install a state-of-the-art cash register system for better control and more efficient processing, he adds. Currently the firm maintains a single distribution center next to the corporate
The Cato Corporation
CAlO
Look Smart. Buy Smart.
81 00 Denmark Road Charlotte, N.C. 28273-5975 Phone: 704-554-8510 Principal: John P. Derham Cato, Chairman, President and CEO Established: 1946 Employees: 9,000 (700 in Charlotte) St ores: 87 new stores in 2003; total of I, 132 stores in 28 states, principally in the southeastern United States A nnual Revenue 2003: $731 .8 mill ion Net Income 2003: $31.4 million Business: The Cato Corporation (NYSE: CTR) is a specialty retailer of value-priced fashion apparel aimed pri marily at low-tomiddle income women, ages 18 to 50. Selected outlets carry clothing fo r 7 to 16 year old gi rls. The stores, under the names "Cato;' "Cato Fashions;' "Cato Plus" and "It's Fashion!," offer merchandise priced below department stores and mall specialty chains, but more fash ionable than discou nt stores. Most of the company's merchandise is sold under its own private labels and includes misses', juniors', and plus-sized sportswear, career wear, coats, hosiery, shoes, and accessories. Stores range in size from 4,000 to 6,000 square feet and are located primarily in strip shopping centers anchored by national discounters or market-dominant grocery stores.The company also offers its own credit card and layaway plan. www.catocorp.com and www.catofashions.com
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"At some point we'll have to add another distribution site as we get more stores out west," Cato admits. "But Charlottes centrally located and we've got a good trucking system and distribution network."
'We're finding clothing tdstes dre simildr in new territories, but we dre encountering the issue of cold versus Wdrm. We ddjust whdt we offer to the hdrsher winters in the North. We sell more dresses in the South thdn dS you go north." -John Cdto Another advantage of Charlotte, john Cato says, is that people want to live here. "It's great for recruiting and employee retention. Once you get people here, they love it." He highlights the good value in housing, the proximity of mountains and beaches, and traffi c loads that don't ap proach the permanently clogged conditions of a city such as Atlanta. Cato himself is a graduate of the University of orth Carolina at Charlotte with an accounting degree, he remains active at his alma mater. He serves on the Business Advisory Council of UNC Charlottes Belk College of Business Administration and is a member of the UNCC Foundations board of directors. He also is a member of the McColl School of Business Board of Visitors at Queens University of Charlotte. Having grown up in Charlotte, Cato marvels that the sleepy Southern city of his youth has become home to two of the country$ biggest financial institutions - Bank of America and Wachovia -and that it has grown into one of the nations top metropolitan areas. That the corporation which bears his family name has experienced growth some would characterize as parallel to its headquarters city seems not to cross his mind. Instead, hes mulling the future for The Cato Corporation. ''I'm thinking about how to tweak what we're doing to keep ahead of the curve," he says. biz
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27
heather head
CALLING FOR
Celebrating Excellence in Communications
Mitel 5230 PDA Phone
his month, ATCOM Business Telecom Solutions celebrates its 25th year as one of the
T
Carolinas' premier providers of communications products and services. And, with 42 percent new system revenue growth over the past year, it seems there is much to celebrate.
Despite this surge in growth, Rhonda Morgan, general manager for the Charlotte office, says
overall growth for the company has been and is expected to be steady and controlled. Stability, in terms of growth as well as management and service, is a watchword for the company and is underlined by the fact that the average tenure for the eight-member senior management team is 16 years. Overall average tenure approaches 12 years; an unusually high number for a technology company. That's because the company's culture provides both exceptional value to the client and an outstanding work environment for employees. greater charlotte biz
>october 2004
23
Morgan attributes it to David Finch , the
People pick it up, because they count on that
companys president and CEO: "David really
person and they know that person doesn't
is a great leader because he teaches us that its
usually do that. "
not about telephone equipment, its about people. And its about doing what you say" Finch , on the other hand, attributes the
In fact, the AT COM team is so cohesive that, Morgan says, they've been accused of
But according to Morgan, this level of service is par for the course at ATCOM. A large room at the back of their facility houses several large cubicles where phone systems are pre-installed . After an order is received
being a "clique." "No," she says, laughing, "it's
fo r a client, AT COM sets the entire system up
companys success, at least in Cha rlotte, to
more like a tribe. And theres no hanging
in this staging area and tests it before inviting
Morgan and her team . "I think that the
around the tribe if you're not as committed
the client to also test it.
Charlotte team, with Rhonda at the helm , is
as they are." New employees are expected to
one of the better teams in the business.
exhibit the same above-and-beyond commit-
They've been recognized nationally as one of
ment to customer service that the "tribe"
usually completely seamless and almost
the top teams in the industry."
holds dear.
totally unobtrusive, allowing the client
This share-the-wealth attitude toward taking credit for success prevails at ATCOM,
Stability and teamwork translate to real benefits for the customer. Obviously, when
"I think that the Charlotte team, with Rhonda at the helm, is one of the better teams in the business. They've been recognized nationally as one of the top teams in the industry." -David Finch where the team is everything. Morgan con-
investing in the type of expensive infrastruc-
siders her reputation as a team-builder to be
ture represented by a phone system, its nice
among her greatest accomplishments at the
to know that the company selling you the
company "If one person drops the ball ," she
product isn't going to go away any time soon.
says, "people here don't go into blame mode.
But its also nice to know that the service peo-
CAROLINA FOOT ASSOCIATES
Because everything has been pre-tested to everyone$ satisfaction , on-site installation is
resume normal operations right away with a minimum of disturbance.
ATCOM Inc. d/b/a
ATCOM
Business Telecom Solutions 3330 Oak lake Blvd Charlotte, N.C. 28208 Phone: 704-357-7900 Principals: David B. Finch, President and CEO ; Rhonda Morgan, General Manager, Charlotte Offices: Charlotte; Greensboro; headquarters in Raleigh Employees: 75; I5 employees in
ple will work as hard at se1ving you as the
Charlotte
sales people do at selling you .
In Business: 25 years
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Business: Business-to-business supplier of telecommunications equipment and services.With a customer base of over 6,000 businesses,ATCOM is the largest privately held telephone system provider in the Carolinas equipped to handle everything from system hardware and long distance call traffic to LAN/WAN setup.Areas of specialty include business telephone systems, voice processing systems,VoiP, wireless solutions, LAN/WAN infrastructure/services, video conferencing, carrier network services for local and long distance, and structured cabling solutions fo r voice and data.
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AT COM built thei r telephone system and
Awards: Recognized fo r enterprise excel-
installed it in advance. They organized their
lence early on,ATCOM was chosen as an INC 500 company in 1984; more recent awards include Mitel's Customer Service Excellence Award for North America (No. I out of 200+ companies), the Triangle Business Journal's "Fast SO" and "Platinum Rule" awards, "North Carolina Family Friendly 40 Award" sponsored by Carolina Parenting Inc., and the Raleigh Chamber of Commerce's "Pinnacle Award;' among numerous others.
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Communicating Service Not surprisingly, AT COM is known for its superior customer service. j eff Morgart, Premier account manager for the com pany, says their commitment to service begins with Finch himself who, "if someone asks him socially what he does, he says hes in customer service for ATCOM." This commitment translates to service like moved locations. In order to help minimize
project plan so that the morning of the move, all that was left to do was pick up the phones, plug them in and dial. According to Don Kostner, IT manager, he had no worries that ATCOM would accomplish exactly what they promised in regard to the move. Morgart himself, although his presence was not required during the m ove to ensure a smooth transition , showed up at the site nevertheless just because the client asked
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him to.
30
oc t o b er 2 004
www.gr e at e r c h a rl otte b iz.co m
. - - - - - - - - - - - - - - - - - - - - - - - - ---
Learning Data
Another element of the tribe's culture at AT COM is commitment to education, both for the client and for themselves. "We are constantly learning," says Morgan, "from the manufacturers, from the Web, from other companies." In a field that is constantly changing with technology, the commitment tc learning is crucial. Right now, the big change according to W.:organ is in voice-over IP (VoiP) and unified rr_essaging technology Using VoiP technology, a company can connect all employees, regardless of location, just as though they were in the same office. For instance, a salesp~rson traveling in another city can plug her laptop into a cable modem and through VoiP connect to her home office. She can answer ~r phone, respond toe-mails, and check her f;::.xes, just as though she were in her cubicle in the home office.
"It used to be that of every twenty phone systems sold, there were probably two voice mail systems. And now of every twenty there might be one or two that doesn't buy voice mail." -Rhonda Morgan Using unified messagmg, the same employee can get in a cab on her way to the airport, call her voice mail box, and have her phone play her voice mail, read her e-mail, c.nd read her faxes to her. She can reply to all three using her cell phone key pad. Morgan compares the current revolution from traditional phone systems to VoiP and unified messaging to the revolution that was occurring when she joined the company 15 years ago. "It used to be that of every twenty phone systems sold , there were probably two 'Joice mail systems," she recalls. "And now of every twenty there might be one or two that doesn't buy voice mail." In order to keep up with changes like the VoiP revolution, the management and
grea ter charlotte bi z
--
- -
- - - -- --
--
staff at ATCOM commit to constant selfeducation. They attend webinars and conferences, and constantly challenge themselves to stay abreast. "We know voice," says Morgan, "better than anybody else in our markets. We've been doing voice for 25 years. And as voice changes and merges with the data world , we've made the transition faster than our competition." The company is just as committed to client education. ln fact, 18 months ago, during a lull i::1 business brought on by the slack economy, Morgart started hosting
"lunch and learns. " The idea was that they would invite their customers in for lunch and hold miniature seminars on the changes in telephone technology. This approach helps clients by showing them what their options are, as well as giving them an idea of where the industry is headed so that they can keep their own companies ahead of the curve on technology It also has reaped dividends for the company as the economy has picked up. These educated clients now are ready to buy, and they want to buy from the ~
Clienn, Employee~, family, or friend~ ...
6ive the Experience of alifetime.
october 2004
31
company that they trust, the company that taught them what they need to know. The commitment to educating clients about technological trends began out of necessity when the company was founded 25 years ago. Telecommunications had just been deregulated , and com panies were often confused about their options and concerned about stepping outside the usual bounds of dealing directly with the local phone company "They'd always gotten their phone system from the phone company," explains Finch. "We even had to convince them that it was legal to buy a system from someone else ." Later, the challenge was in convincing clients of the importance of voice mail , and now it's educating them about the benefits of voice-over IP Calling for Superstars
Another challenge the company faces ,
Mitel 52::!0 IP Phone
according to Morgan, is recruiting good
ing. When Finch o!Tered ha a job, she says,
people. Morgan herself was a recruit straight
"I di::ln't know how luck.
out of college. "! was an English major, so I
Morgan
~tarted
with A
knew nothing abo ut telecommunications,
sale~
nothing about technology," she says, laugh-
Gremsboro ::>ffice c.nd is
vas." ·) Min 1989 as a
rep. By 1993, she was managing the DC\..-
general man-
ager of the Charlotte and Greensboro offices. The company was lucky to get her, too, though she won't say so herself. Still, sometimes new recruits don't work out so well and it's challenging to find the people who will fit in with the company's strong commitment to service. Now they rely less on recruiting at colleges and more on word of mouth.
~
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"We let everybody know that we have room for a superstar if they know one," says Morgan , "and people sometimes call you." A recent example is their new sales engineer, Tim Sickles, who moved down from New York looking for a job in Charlotte. He had experience with Mite! Networks, one of the manufacturers that AT COM represents. When Sickles asked Mite! for a recommendation for help finding a good company to work for in Charlotte, they recommended ATCOM to him. "He's been here about 18 months," says Morgan, "and he's been a phenomenal resource for us." Phenomenal, too, is the fervor with which ATCOM's employees sing the praises of their team. "It's to the point of this," Morgan says
For specific dates, times, locations and membersh ip inf::l ·--,ation visit our Web site at www.business-su:cess-institute.com or call Denise Altman at (704) 708-6700.
earnestly, "I believe so much in this team to deliver good customer service, to go above and beyond what a customer's expectations are, I wouldn't care what we sold. The team is phenomenal." biz
Heather Head is a Charlotte-based freelance writer.
32
october 2004
www.greaterch arl otte biz . com
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The younger Hull explains that, in dentistry, an office must bear the name of the practicing doctors inside. So, in order to become a part of a practice, orthodontists (dentists who have completed an additional two to three-year orthodontics program) generally solicit established offices, and, if fortunate, are selected by the practicing doctors as a prospective partner, and begin the process of buying-in until they own an equal portion of the business. In the case of this office, that process lasts from three to six years. Putting teeth into business Doctors these days have to be not only smart in practice but also smart in business, especially when they have their own practice. But that's why Hull , Burrow, Case and now Coleman handle the responsibility of seeing the 50 to 85 patients that pass through the three offices everyday and manage the books with the help of 32 employees. The business side of the orthodontic practice is placed in the hands of office manager, Patty Stumpf. She has been the office administrator of the practice for 22 years and handles the day to day operations.
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"Communication and education for our patients is the key to success and the highest complement is when a patient refers a friend or family member. Our staff is highly trained and our goal is to make sure the patient is treated as an individual and given the best quality care," Stumpf says. She delegates duties to the staff and only hires certified dental assistants and highly qualified business staff. All are required to attend continuing education courses yearly. Stumpf also feels it is important to call upon consultants as necessary to keep the practice on the cutting edge of professionalism. With one step inside any of their offices, it is clear patients are in the good hands of the caring and organized staff. This could be auributed to the balance that has been struck between being competent businessmen and passionate orthodontists. Indeed, it is these doctors' passion to be able to care for their patients with the newest technology and techniques that drives their business. "We all realize it's a business," says Chip Case. "But we all love orthodontics. We know we have to stay up on the business end of it, but the primary goal is to treat the patient , and to get the patient to walk out of this office telling people, That's a special place."' ln fact, most of the practice's referrals are from former patients or referring dentists. Running a business in three separate locations is a lot to have on your plate, but the partners saw a need to respond to the expansion of the Queen City and the growing necessity of convenience. By balancing business practices and schedules expertly, they can provide that convenience to their existing clients and, at the same time, auract new clients. Why go across town when someone just as good is down the street7 "Multiple people at multiple practices really helps us prO\~de that convenience," Hull says. "It allows our clients and staff alike to adjust their schedules to their particular needs- especially those coming in from school." Not just for the awkward years While geuing out of school for appointments is the best pan of having braces for many kids, it's not just the adolescent crowds that seek solace within the walls of these offices. More and more adults are now finding out what braces can do for them. Approximately one-third of the practice is
now comprised of adults, Coleman estimates. And he says while it is recommended and now commonplace that every child goes in to see an orthodontist for at least a consultation around seven or eight years old, present-day adults never had that luxury when they were growing up. While many young adults in their twenties are busy with education, first jobs and getting their lives started, that is why, Burrow explains, "most adults come see us in their thirties. Adults can, however, have braces at any age from 19 to 80." These orthodontists also work with periodontists and general dentists to enhance proper dental health. "We provide adults with a wide variety of treatment options," Burrow says. "Some adults might just want their lower teeth aligned because of crowding that makes cleaning difficult. This treatment takes seven to eight months and is much less expensive than full braces." He recognizes this as a newly emerging and increasingly popular trend. Hull speculates that many adults are becoming significantly more appearance-conscious, as well as being conscious of the magnitude a first impression carries. A smile can convey a special warmth, a sense of well-being, and a history of good health.
Drs. Hull, Burrow and Case, P.A. â&#x20AC;˘ Arboretum Office 7800 Providence Rd., Suite 20 I Charlotte, N.C. 28226 704-334-7203 â&#x20AC;˘ Randolph Road Medical Park Office 2711 Randolph Rd., Suite 600 Charlotte, N.C. 28207 704-334-7202 â&#x20AC;˘ Stonecrest Office 7922 Rea Rd., Suite A Charlotte, NC 28277 704-334-7204 Principals: James C. Hull, D.D.S., M.S., N.B.O.; S. Jack Burrow Ill, D.D.S., M.S., A.B.O.; J. Chi p Case Jr., D.D.S., M.S.,A.B.O. Employees: 32 In Business: 20 years as Drs. Hull, Burrow and Case Business: O rthodontic services fo r children and adults including- orthodontic procedures for children and adults www.hbcsmile.com
www.greate rc h arl otte biz. com
'There is a psychology of people in the work force - they're talking about how important a smile is." He muses, "!think a lot of people are realizing that your first impression is so important, and pan of your first impression is a nice, good-looking smile." While orthodontic treatment can last for two years or more (but often less, depending on the specific problem and patient) an adult does not have to look like the "metal mouth" of yesteryear for the course of the procedure. Hull explains there are now clear appliances that adults often prefer. It is also easier for adults who have made the jecision to get braces to begin the process more rapidly. New technology can map out gum and teeth contours, speeding up the initial fiLLing and helping reduce subsequent office visits. Hull says that once the initiz.l consultation has been made, adults can be fitted in as little as two weeks. Of course, in the case of adults, a dazzling smile is not the only concern. Hull notes that bite problems contribute significantly to headaches, jaw pain and periodontal concerns. 'We're especially gentle with our adult patients; we don't usually put all the braces
on at one time ," Hull explains. "We are slower with adults because they take longer to adapt, and we make sure they are comfortable with every step of the process as it proceeds." Smiles for miles into the future
Cost, confidence and comfort are three principal concerns of adult patients or parents of patients. However, Hull, Burrow, Case and Coleman have all found that compassion and reassurance goes a long way in assuaging trepidations and fears of the unknown procedures. They have all eli.']Jerienced nervous children facing braces. They all have children, most of who have or will have braces. These children are the foundation for the family atmosphere of the practice, because they continually demonstrate to the doctors openly and fonhrighlly, firsthand, what patients go through when they leave the office. The fact that they all share this inside knowledge, and have developed a calming and reassuring chairside manner that has come to be synonymous with this practice, will ensure these guys will be around for a long Lime. The practice will proudly celebrate 55 years of correcting smiles next year.
Good business decisions keep their orthodontic practice on the leading edge. Their use of digital x-ray machines, for example, reduces radiation , making the procedure safer for patiems and staff alike. And the offices are in transition to a "paperless office" whereby information from all three locations is being put into one large database so that any doctor at any location can immediately retrieve patients' records. The future is also in the new face arounj the offices. Coleman has recently finished J-js orthodontic training in Virginia. Hull, Burrow and Case believe that young doctors, although not having the depth of ell.lJCiiencc, will bring in valuable fo1ward thinking and knowledge, enhancing the already top-notch practice. There are a lot of people talking about Drs. Hull, Burrow, Case and Coleman. It's pretty common to get a good referral straight from the horse's mouth, or, er, their client's mouths. Compassion and care, coupled with high standards and a determination Lo grow, will keep this practice a leader among cutLing-edge orthodomics practices. biz Undsay LeCorch1ck 1s a Charlotte-based freelance wnter.
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october 2004
37
by heat her hea d
At crown solutions, ta ing care of business means taking care of yeoy(e Data reading machirE
Although arelatively young company, crown
and quality control; and joe Kufhta. a retired ::¡fficer of
Solutions is developing a reputation for exceptional
the Marine Corps, contributing 22 years of experience
service to its banking and direct clientele, offering co n-
with extensive knowledge in all aspects of c perations.
â&#x20AC;˘:enience md efficiency through their remittance and
Together, the three principals des~gned and refur-
document processing and related services. Clients rave
bished a 23,000-square-foot facili t;; and set in motion a
about the company's outstanding performance and reli-
company whose devotion to and outstnding perfo rm-
ability, and the management team exudes confidence
ance in serving their clients and employees is earning
and enthusiasm for their profession.
them quite a reputation.
Shortly after leaving his position in senior management with a top-five bank, Bill Miller assembled a team
Crown Solutions offers traditior_a, loc~box (remittance processing), document processing, filing, and an
of professionals to serve what he saw as a growing need
array of related services, plus some of tl-.e most
in the Charlotte area and nationally In the fast-expand-
advanced technology and state-of-the-art risk manage-
ing Charlotte market, increasing numbers of companies
ment and security features available in the :ndustry
The business is a natural for this team, with Miller as yresident and CEO bringing more than 20 years of cash management and bank oyerations ayerience to the table; Faith Young, managing director ~f customer relations, adding 18 years of exyerience in customer care and quality control; and ]oe KUjhta, a retired officer of the Marine corys, contributing 22 years of ayerience with extensive knowlet{qe in all asyects of oyerations. are seeking to focus more closely on their core business and choosing to outsoLrce their remittance and document processing. The business is a na:ural for this team, with Miller as president and CEO bringi ng more than 20 years of cash management and bank operations experience to the
Where most similar companies speddize m whole sale or retail, Crown olution5 serves both , as we ll as both large-volume clients and smaller vo lume cl ients and those requiring exception processing. This uniquely v.ide array of options creates d¡.allenges for
~rown
Solutions as we:! as oppo rtunit ies,
table; Faith Young, managing director of customer rela-
but for the client it means a much simpler process and
tions, adding 18 years of expe rience in customer care
greater consistency throughout th::ir processing.
grea ter charlot te b iz
octo ber 2004
> 33
Another way that Crown Solutions pro·Jices superior service to their clients is in the 'Na·;
the company is organized. Bureaucracy is
tions will be handled. It can add greatly
to
ser\~ce
that we provide. "
Potential clients want assurance that the
on top of the changing technology
company is sound and reliable. To meet the
Crown Solutions state-of-the-an technc l-
minimized to ensure that clients can speak
its a very sensi ti ve
efficiency, but it does requi re an effon to stay
challenge, Crown Solutions relies on the
immediately to the person or people responsi-
ogy is ready to handle the changes, and their
acco lades of existing customers and the expe-
ble for any given aspect of a job. Questions get
f1exible organization anticipates benefiting
rience of the management team.
ansvered and problems get resolved in an
from the changes. Many companies that
expedient manner. Fewer layers of bureaucracy
merly handled their own transactions may
also mean lower overhead and the abi lity to
choose to outsource rather than invest in the
for instance, says about the company:
pri·:e their services very competitively
new equipment and training required to
"Crown Solutions is a perfect representation
keep the process in-house. Crown Solutiocs
of the strong growth companies in our..
To.Jis of the Trade
is ready and waiting for the new wave of out-
community They have ... [the] leadership and
sourcing customers.
experience ..
As Young puts it, the technology at Crown Solutions is "very robust. " This is important
fo~
Miller affim1s, "We recognize that our
in an industry where changing technologies
industry will continue to change as techno_-
and even legislation affect the way remittances
ogy evolves. Crown will evolve with it and
Vicki Manton, senior vice president of Middle Market Banking at Bank of America,
to
consistently exceed their
clients expectations." Tom Bennett, senior vice president of First Charter Bank, and one of the companys
we will expand our treasury management
first major clients, says similarly, "We made
services to the business community "
an important decision to source a critical
Challenges and Solutions Even for a company \vith so much goin§. for it, being new with big dreams has its ch<.l-
Solutions ... the decision has been a great one
checks can be delivered immediately and
lenges. The biggest one so far, according to
Crown Solutions efforts to build a reputation
processed the same day that they are pre-
Young, is the youth of the organization and
that will fuel the companys growth.
5erted, regardless of the banks location.
the accompanY1ng lack of name recognitioiL
and documents are processed. For instance, the "Check Clearing for the
service for our customers to Crown
21st Century Act" slated to go into effect in October will allow banks
to
process ·'substi-
tue checks" in place of original checks. This :neans that electronic copies of physical
For Crown Solu tions and its clients, the Ac. changes the way many of their transac-
In this business "we're asking people to direct their revenues to us," says Young. "So
and our clients receive great service." This type of feedback forms the basis of
Also, says Miller, they stress that although the company is only a couple of years old, the management team has been together for more than five years, and has an outstanding combination of experience in the industry As a result, the company already
Take the Fear Factor out of Change & Transition
processes over 300,000 transactions per month, and has recently landed a major contract with WildCard Systems, a provider of electronic host based prepaid cards and custom stored-value products,
Our Clients will tell you ... "Compass Career services were essential in keeping our employees focused during the period ... kept them looking forward, good spirits ... production actually increased during the close down." Operations Manager
"I could not have made it through everything- job loss , money, divorce- without your help. " Candidate
" . . . a great burden was taken off all our shoulders by Compass Career" Director, HR
THE WINDS OF CHANGE BRING OPPORTUNITY
40
october 2004
uReal people helping VP, HR Real people. "
to
implement
national prepaid card programs. In addition it has contracts and work on referrals \vith several major banks. "As we continue to grow those relationships," says Young, "it gives us more credibility as a company"
A Deeper Purpose But a deeper purpose drives the staff of this relatively new company Miller says that purpose began to grow in his heart while he was in graduate school, completing a paper about the abuses that many companies perpetrate on an underpri,~leged immigrant population, especially the Hispanic community Unfamiliar with emploY1Tient practices and culture in the United States, and speaking little English , many new immigrants are taken unfair advantage of with low pay, few benefits, and dangerous working conditions.
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"And so l thought ," says Miller, "that the ultimate compan y would be one that offers opportunity to these types of workers and treats them well, but also takes it a step further. " It was years later, when the bank Miller was working for lost a comract and laid off large numbers of employees wo rking under Miller at the time, that he recruited his coworker Young and they set out to build a company that would re-employ those laid-off workers and begin to realize the dream Miller had dreamt in graduate school. The "step further" of Millers dream is where this traditional business turns revolutionary. Miller and his staff plan to turn 3,000 square feet of their office space into a 'Training and Development Area." "We want to be an incubator for our employees," says Miller. ln the training center, employees will receive job training and career development for their jobs at Crown Solutions- and beyond . In addition, through Crown Solution's planned partnerships with nonprofits, employees will have opportunities for training in basic coping skills such as using banking services, obtaining adequate housing, using technology, speaking more !1uent English, and seeking fulfilling employment. .. all while working in the realworld, real-job environment of Crown Solutions, and with the goal of some day "outgrowing" their current employment,
Crown Solutions, LLC
even if that means moving on to other companies and opportunities. Although the dream is not yet fully realized, Crown Solutions is not standing around waiting to begin their mission. As an example of their attitude toward the people in the compan y, Joe Kufhta, managing director of operations, relates the story of Amelia. Amelia had a professional-level job in her home country, but because of her marginal English-speaking skills and unfamilia1ity with the U.S. employment system, she had been able to secure only a basic, entry-level assembly job here. When Amelia came to work for Crown Solutions, they assisted her in taking Englishspeaking classes at a community college, which helped her apply (and win acceptance) to a paralegal program where she is learning skills in order to return to rewarding, higher-paying work here in the U.S. "lts hard to let her go," says Kufhta. "But at the same time, we're so proud of her." "We want to be an incubator for people like her," says Miller. "So that they can train under our umbrella, grow within Crown Solutions, and then as opportunities present themselves, they can grow beyond Crown Solutions." Their mission sounds like it belongs to a non-p rofit , and in fact, Miller and his staff original ly considered setting the compan y up that way But even better, they decided, would be to create a viable business and good corporate citizen with racially and ethnically di verse employees, and helping those employees overcome baniers arising out of their diversity
2200 Executive Street Charlotte, N.C. 28208
Growing Forward
Phone: 704-973-9000 Principals: Bill W Miller, Co-founder; President and CEO; Faith R.Young, Cofounder and Managing Director, Customer Relations; Joe Kufhta, Managing Director, Operations Employees: 13 In Business: 2 years Business: Offers a comprehensive suite of receivables and document management solutions, enhancing lockbox services, to a customer base including financial institutions, middle market and large organizations. www.crownsi.com
greater charlotte biz
The wait list of potential employees is as diverse as the current staff, which consists of people of all different racial and ethnic backgrounds. The company is minority-owned and while Miller says he hasn't noticed that its made a difference yet, he expects it to matter a great deal in the future. "We are in a unique industry as a minority-owned company," says Miller. To their knowledge , there is only one other similar minority-owned company, and it is on the West Coast. They expect their company to serve as a role model for minority-owned companies as it gains recognition. lf we're lucky, it will serve as a role model to all companies. Crown Solution's motto , "People, Service, Profit, Community, and Trust," isn't just talk. "If we take care of our people first," explains Kufhta, "they'll provide unparalleled service and that will bring in the profits that we need to give back to the community, which then leads to trust. " And Crown Solutions means lO take care of its people. That is, after all , the dream Miller dreamt. biz Heather Head is a Charlotte-based freelance
write~
october 2004
41
Credibility is what Crown Solutions expects to continue to build and grow on in the coming yea rs. Within two years, they hope to raise their employment from the current 13 full-time staff to as many as 200. They've already seen steady revenue growth and expect business to explode soon. Says Ku!11ta, "lthink it's just a matter of time before the doors come blowing off here." And when that happens, they expect to provide major benefits to their customers and their employees. According to Kufhta, there is a "laundry list" of people waiti ng to come work for Crown Solutions as soon as there is room for them.
biz]
by ellison cla ry
Charlotte Entrepreneurs Inducted to the 2004 N.C. Business Hall of Fame reated in 1988 by junior Achievement of the Central Carolinas, Inc., the North Carolina Business Hall of Fame recognizes men and women who have made a significant contribution to the economic well-being of their firm , their industry and the state. Recommended by a committee from North Carolina Citizens for Business and Industry, inductees to the Hall of Fame must be either retired from their business or at least 70 years old at the time of selection. Laureates also are recognized for their outstanding community contributions.
C
This year's inductees to the North Carolina Business Hall of Fame are: • Wayland H. Cato,Jr., Chairman Emeritus, The Cato Corporation • Paul H. Broyhill, Chairman, Broyhill Investments; former Chair and CEO, Broyhill Furniture Industries, Inc. • Ron E. Doggett, Doggett Associates, LLC; former Chair and CEO, GoodMark Foods, lnc. • Albert F. "Pete" Sloan, former Chairman and President, Lance, Inc. Wayland H. Cato Jr., Ever the Entrepreneur
Vision, perseverance and devotion to family are the attributes that best define Wayland H. Cato Jr. and go farthest toward explain ing his exceptional success at building the The Cato Corporation's women's apparel retail chain. So says his daughter Clarice Cato Goodyear, who is her father's spokesperson. Goodyear, who lives in Charlotte, is "very close" to her father, with whom she has collaborated over many years on family and business issues. Other attributes that have contributed mightily to the success of Cato Jr. are a sincere interest in people and a strong proclivity to give back to communities in which he resides and where the corporation does business. Wayland H. Cato Jr., along with his father, Wayland H. Cato Sr. (1893-1 974) ,
42
october 2004
and brother, Edgar T. Cato, founded the company in 1946, shortly before the family moved to Charlotte from Augusta, Georgia. Cato Sr. had managed stores in Georgia and South Carolina for United Merchants and Manufacturers, so the company focused , at first, on opening Cato stores in small towns like Sumter and Mullins, S.C. Within two years of starting the company, the Cato family was running a chain of seven stores. A year later, the company passed $1 million in sales. Today, the company has in excess of $73 1.8 million in revenues. In january 2004, after 58 years of leadership, Cato Jr. retired from the company and became chairman emeritus. john Cato, one of his five sons, is now chairman, president and chief executive. Even as a very young man, Goodyear says, her father Cato Jr. had visions of a successful business and a large, cohesive family, and those visions were intertwined. Cato Jr. had eight chi ldren, one of whom died a few months after birth, and now has seven living children and six grandchildren. Goodyear says her father felt that "a prosperous company would be the platform for success for his children and grandchildren. The business and the family were, for him,
Wayland H. Cato Jr.
joined in a single vision and he's never deviated from that dual theme." In 1960, Cato Jr. became president and chief executive of the company; in 1970, the responsibility of chairman was added. The company has grown into a 28-state chain of more than 1,100 value-priced women's fashion apparel stores, largely because, Goodyear says, her father drew other people to him who supported him and helped implement his vision. "Dad has this incredible talent- its a giftfor getting other people to say, 'Wow, let me be a part of what you're doing,"' Goodyear says. Through the years, perhaps perseverance has been most critical to Cato Jr.'s success, his daughter says. 'That's the core of who he is." Its a good thing, too, Goodyear says. "Of the hundreds of non-metropolitan women's budget apparel chains that were started after World War II, The Cato Corporation is the only survivor," Goodyear explains. "As Dad says, 'It's a business of change and we have had to keep re-inventing ourselves, redefining our niche."' Her father has always been a strong advocate of Americas enlightened capitalism, she says. Additionally, "Hes fundamentally an optimist," Goodyear says. In 1992, Cato Jr. bought and restored a historic home in Charleston and in 1998 married Marion Rivers Ravenel of that historic city For more than a decade, he has been deeply engaged in that communitys cultural and civic life. At 81, Cato Jr. 's honors and awards continue to mount , although he never focused on achieving recognition or winning awards, Goodyear says. In 2001, Catojr. began acquiring land in north-central Wyoming to develop a large working cattle ranch. As their headquarters, he and Marion have restored the main dwelling and outbuildings of an 1876 ranch near Sheridan. "He's fulfilling another life-long dream," Goodyear says. "As a guy who plans in terms of profit and loss statements and cash nows,
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0-Jtober 16,2004 at 7:00pm: ):lin Us at Theatre Charlotte for networking and the play C?lixtedStories~ A play about women men toring wc:men and how it impacts lives.
October 1,, 200-l
Mayor's Proclamation
9:00 am - 9:30 a.:n
Two Wachovia Atrium - $5 Includes Brt"akfast
October 19, 200-l
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NBWW Alliance Women's Showcase Two Wachovia Atrium Features an exhibi of women's not -for-profit, educational and professional organizations and will include a silent auction to benefit 'v1ecklenburg County Women's Commission.
October 21, 2â&#x20AC;˘)0i
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izl
Dad projects that the operation will be on
convenience stores, which brought scores
track and performing satisfactorily in three
of snack choices.
years, at which time he'll be 84. "
"We actually compete for appetite," says Sloan, explaining why he emphasized quality.
Pete Sloan, Wealth of Appreciation
It worked. Lances market capital was $121
Charlotte native A. F. "Pete" Sloan, retired
million when he took the top spot and by
chairman and president of Charlotte-based
1990 it had grown to $659 million.
Lance, Inc., is the other Charlotte business
'The only way to generate wealth is to
leader being inducted into the North
make something," he says. "You put some
Carolina Business Hall of Fame. loan
raw material , a little capital and labor with it
remains active on various boards and enjoys
and you make it worth a lot more than it was
travel. He reminisces about his career in a
to stan with. You've generated some wealth."
conference room at Lance headquarters in
joining Cato )1: and Sloan in the N.C. Business Hall of Fame class of 2004 is furniture industry icon Paul Broyhill of Lenoir and Ron Doggett of Raleigh, who founded GoodMark Foods, Inc. and revived the Slim jim snack brand. All four will be indLicted at the 2004 dinner ceremony for the Hall of Fame in Charlotte on November 10, 20Q-f, at the Westin Hotel. biz
south Charlotte. It wasn't for the money that Sloan joined Lance at age 25. He started at $65 a week.
Pete Sloan
But he liked the company's emphasis on good relationships with its employees. That was 1954. loan worked his way up through manufacturing, soaking up the com-
ter. And you want to give better service." Sloan's biggest surprise was when he was promoted from assistant vice president of
pany culture and building on it. Company
manufacturing LO executive vice president.
founders Philip Lance and Salem Van Every
"I had no aspirations for that. That was the
had instituted values such as hard work and
road you took to become president and chairman ."
loyalty and son Philip Van Every had maintained them.
Sure enough, Sloan assumed those titles
"l just tried LO perpetuate that culture
with an appreciation of people," Sloan says. "We all worked hard but expected results
in 1976. He kept them until his retirement in 1991. Sloan guided the company when growth
and , fortunately, we got them." Sloan emphasized working smart. "We
of competition was enormous. He remembers when a stop at a gasoline station
LOok a lot of pride in quality products and
almost automatically meant buying a soft
service. Anybody can make a cookie or cracker, but you want LO make one that's bet-
drink and a package of Lance crackers. But large companies combined gasoline with
Paul Broyhill
Ron Doggett
44
october 2004
Ellison Clary is a Charlotte-based freelance writer.
bizresource guide Take advantage o( these products and servtces (rom Charlotte's /eadtng bustness-to-business supplters. ABC Cleaning Allen Tate Company ATCOM Breakfast Club America Business Success Institute Carolina Foot Associates Carolina Audi Charlotte HelpOesk Choice Translating Compass Career CPCC Corp Training Daniel Ratliff Dilworth Hair Center Employers Association First Citizens Bank 5 Off 5 On Knauff Insurance Liquid Design MacThrift Office Furniture Mecklenburg County Recycling National Busi ness Women's Week National College Savings Regent Park Scott Insurance Scott Jaguar Staton Financial Advisors Tathwell Printing TimeWarner Business UNCC Belk College United Mailing Service Verizon Amphitheater Wachovia Bank Wake Forest University- Babcock School Wishart Norris
pg. 11 IFC pg. 10 pg. 37 pg. 32 pg. 30 BC pg. 10 pg. 13 pg. 40 pg. 11 pg. 26 pg. 12 pg. 27 IBC pg. 41 pg. 12 pg. 9 pg. 20 pg. 13 pg. 43 pg. 33 pg. 8 pg. 3 pg. 19 pg. 18 pg. 43 pg. 1 pg. 24 pg. 36 pg. 31 pg. 5 pg. 21 pg. 9
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