Greater Charlotte Biz 2004.12 by CLT.biz & Charlotte Biz & Greater Charlotte Biz

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cover story

Former Governor Jim Martin Whether representing Carolinas HealthCare System or its r:atients' needs to a Washington,

D.C. audience, serving on several vital boards, advocating and fundraising for h~alth care, education and research institutions, or donating considerable personal funds to various causes, fc rmer Govemor Jim Martin's name covers street signs, buildings and schools in testam~nt to the difference he's made. He has left his infiuenti~l footprints all over the state of Nortr Carol na.

16 J.C. Steele & Sons This Statesville company's gone global but its mission remains unchanged since the 1890s: continuous improvement in the design, materials and manufacture of the highest quality clay

路-

working machinery They have truly made it a family quest.

28 Global Med ical Imaging

publisher's post

employers biz

Legislative and Regu latory Highlights for Area Employers

on top

By specializing in reconditioning ultra-

biz digest

sound systems for various medical needs

Biz News and Announcemen ts

and providing extensive field service, GMI is not only staying profitable and satisfying customers, it is helping to renew confidence in our ability to service the demands of America's healthcare system.

biz impact Mowrspons Adds $5 Billion to North Carolina Economy

biz resource guide

34 SAN Direct It's this company's business to find solutions - that means finding the best way to help their mid-sized and large business clients manage and store the enormous and increasing quantities of data they depend on. Enter the SAN; the one source for the truth.

on the cover:

james G. Ma rtin, Corpora te Vice President, Carolinas HealthCare System.

38 Strayer U niversity As regional economies continue to grow with a greater emphasis on business and

Photography by Wayne Morris.

technology sectors, Strayer's educational opportunities play an important role in helping working adults gain the education and accredited degrees they need to advance professionally

dece m ber 2004

clfaflotte z VN

www.gre :tte rc h ar l otte biz. com

(Seated) Andrew Chambers, Mike Monk; (Standing) Lat Williams and Tar Reid of

Scott Insurance: Over 140 Years of Results "By focusing on safety improvements, loss prevention and claims management, Scott actually lowered our dependence on insurance." - Charlie Tew, Southern Pump & Tank "We've been with a large national broker. After being with Scott Insurance, we now realize we're with the best. Their innovative and proactive services are the best we've ever come across."- Sheila Williams, B&B Contracting "Scott Insurance has done a great job of further educating us on key issues, especially Workers' Comp. Their comprehensive approach to our risk management is helping MGM Transport take control of the future and be a better company."

Employee Owned

- Ross Windsor, MGM Transport Find out how you can benefit from the knowledge and service that have made Scott an exceptional Insurance firm since 1864. Call Andrew Chambers, Mike Monk, Lat Williams or Tar Reid in Charlotte at (704) 556-1341.

INSURANCE scottins.com

[publisher's

stj

cllaflotte z WI

A Moment of Celebration and Thanks!

December 2004

What a remarkable five years it has been!

Volume 5 • Issue 12

With this issue, Greater Charlotte Biz celebrates five years of publishing here in Charlotte . While this may not be as remarkable as 10 years or 20

Publisher John Paul Galles jgalles@greatercharlottebiz.com

or 50 or 100, every business owner knows that celebrating the milestones is critical to understanding and learning from the

Associate Publisher/Editor Maryl A. Lane

experiences that they ha\le been through.

maryl.a.lane@greatercharlottebiz.com

good is just as necessary to a healthy existence as marking the

Having published 60 issues, profiling well over 300 Charlotte regional businesses - every month for five years,

Contributing Editor Susanne B. Deitzel

we feel quite proud to be able to present the stories of successful leaders and companies to the business community in the hopes of entertaining, inspiring and teaching through the experiences of others. With a distribution of 20,000, when you consider the average pass-along value of each magazine to 4 or 5 other readers, impacting 100,000 readers at large in the business community always amazes me and, at the same time, humbles me.

Creative Director/ Asst. Editor Paul Bond pbond@greatercharlottebiz.com

Account Executives

Besides surviving an economic recession, the failure of the dotcoms and telecoms, the impact of 9·11, and terrorist threats including fears of anthrax, the war on terror and Iraq, we have been fortunate to have grown each year. The number of businesses which have not survived also humbles me. Nevertheless, in this holiday season, we are grateful

Bill Lee blee@greatercharlottebiz.com Amy jo Robinson arobinson@greatercharlottebiz.com

for many things and want to celebrate, at least for a moment, the success and resilience of our business and American business over time . Our magazine continues to grow for two reasons ... good stories and good advertisers. Without good stories, we could not attract readers. Without good readers and significant circulation, we could not attract advertisers. Without good advertisers, we could not afford to tell good stories. And so, we want to thank all those who have contributed their stories

Contributing Writers Ellison Clary Susanne B. Deiuel Heather Head Casey Jacobus Lindsay LeCorchick

and their advertising to Greater Charlotte Biz . We have worked hard to help businesses grow and have enjoyed our own growth at the same time.

Contributing Photographer Wayne Morris

It is also important to thank those who have helped us build each and every magazine. We are especially grateful to our staff and to our regular contributors, the Employers Association and the Charlotte Regional Partnership as well as Charlotte Center City Partners, Visit Charlotte, UNCC's Belk College, CPCC's Corporate and Continuing Education, John Silvia from Wachovia and John Connaughton from UNCC. We also want to thank our writers including Susanne Deitzel, Casey Jacobus, Ellison Clary, Heather Head and Lindsay LeCorchick and many others over five years. We would li ke to thank Wayne Morris of Wayne Morris Photography for his outstand· ing color photo covers over the last five years . In addition, we are thankful to our printers

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.

for their colorful renditions of these issues. We are grateful to Powerhouse Color, R.L. Bryan Printing, and Tathwell Printing. We would also like to thank T.J . Felice and Mark Mueller of Exervio, Inc. for their pro·

Editorial or advertising inquiries, please call or fax at the numbers above or e-mail: info@greatercharlottebiz.com.

duction and upkeep of our Web site, www.greatercharlottebiz.com, presenting all of our content since the very first issue. We are also thankful to John DiCristo and the staff at Clickcom for storing and protecting our Web site for all who wish to view it. Five years in business is just the beginning for Greater Charlotte Biz . There are many

Subscription inquiries or change of address, please call or fax at the numbers above or visit our Web site: www.greatercharlottebiz.com.

more stories in this growing economic community. We look forward to telling the "war sto·

ries" of many more businesses that substantially affect the future of job and wealth

rights reserved . The information concained herein

creation in this region. We are also an xious to help you and your business build your

H owever. G alles Communications G roup, Inc . makes no war-

by G alles Com mu nications G roup, Inc . All

has been obtained from sources believed to be reliable .

brand, expand your identity and gather new customers and prospects in this marketplace.

ranty to the accuracy or rel iability of this information.

Please don't hesitate to call anyone on our staff or me directly with your ideas, thoughts

marks of [heir respective companies .Views expressed

and suggestions. We will be happy to listen and learn about your business and how we can help you grow each and every year.

biZi

Products named in these pages are trade names or tradeherein are no[ necessarily those of Greater Charlotte & z o r G alles C om municatio ns Gro up, Inc. N o part of [his publica[ion may be reproduced or [ransm i[ted in any form or by any mea ns wi[hou[ w r itten permission from

Happy Holidays and a most prosperous New Year! 4

dece m ber 20 0 4

[h e publisher. Fo r repri nts call 704-676-5850 x I 02 .

www.grea t e rc h ar l o tte b iz.co m

THE CAROLINA PANTHERS AND CAROLINAS MEDICAL CENTER TEAM UP AGAINST CANCER.

Carolinas Medical Center has reamed up with Sam Mills and Mark Fields of the Carolina Panthers in the "Keep Pmmding" campaign. Join the fight by purchasing a "Keep Pmmding" bracelet for only $1. Proceeds go to the Blumenthal Cancer Center at Carolinas Medical Cente1: Buy yoLU· bracelet at Chmloue area Belk stores, Bojangles', Omega Sports, Rack Room Shoes, Carolina PJJ1thers Team Store and Pant:helscon1. Toged1er we can win.

Carolinas Medical Center www.carolinashealthcare.org The Official Healthcare Provider of the Carolina Panthers

Partially underwritten by

ALTER+ CARE •

Legislative and Regulatory Highlights for Area Employees Taxing Holiday Gifts

Man> busine55(:S offer some kmd of gift to employees dunng he holidays. While oany companies still hard out the holiday ham, others go all out for fomal dinners, cash bonuses, or gift certificates "Vhat many employers may not realize, howevu, IS that many of their gifts to employees are considered compensation br the Internal Re\·enue Senice (IRS) and are subject to federal and ~Le income ta-.;es, as well as ~oc~al Security taxes. The way arounJ having to add the \'alue of a gift to the emr loyees \\'-2 income is to make sure the gift :jualifies as a "de mimmus" fringe benefit. To c-ualify as a "de minimus" fnnge benefit, a gil must be a product or service that is so snail that it is unreasonable or admimstrauvel> 1mpracucalto mclude ll in mcome. There i; no specific dollar a:noum m the Lax laws for de minimus" gifts. In general, an ea1ployer can hand ou a turkey or a ham an l not be required to include the value 1r the employees W-2 income, because a rurkey is "tangible personal property" that has a nominal value. But Jan employer gives eacl employee a $10 gift certificate to purchase 1turkey at a grocery store, the gift of a "cash ec uivalent" no longer qualifies as a "de minimL s" fringe benefit. A "::ash equivalent" is any rr ethod such as a gift certificate or the use of a credit card that allows purchase of a prodoct or sen'ice as if cash were being used. Ar y cash an employer gives to an employee at any time -whether it is a salary, bonus, holidry gift, or safety award.must be added to the employees W-2 income. Employee Turnover is Expensive

Average turnover costs reached $13,355 xr full-time private-3ector employee in 2004, .:tccording to a new a.1alysis from the ~mploymem Policy -::oundation (EP£'), a ·.vashington, D.C.-lx.sed research group. -:--he -esult is based on an ~arlier study that fou:-~.d rurnover costs averaf<:: 25 percent of an employees annual sa ary Turnm·er costs, which ilclude recruiting, se: ection, training and ost productivity expense have climbed 6.8 percent from a $12,506 averrp;e cost in 2002. 6

december 2004

"The loss of producti\ity during position vacancy and the diminished productivity during the new employee's transition period are significant aspects of the total cost of turnover," according to EPF President Ed Potter. "Companies that are able to reduce their turnover rate have a significant competitive edge." EPFs analysis found stgnificam variations in turnover rates by industry. The leisure and hospitality industry had the highest turnover rate (\·oluntary quits and retirements), with an annual rate of 46.4 percent for the tweh-e momhs ending m Augttst 200-f. Retail trade was second highest at33.2 percent. Companies in the manufactunng and transportation industries had smaller annual turnover rates of 16.5 percent and 18.2 percent, respeCllvely For large companies, different turno\·er rates can create large differences in total turnover costs. For a 40,000-employee company, total turnover costs would reach $80 million annually with a 15 percent turnover rate. The same finn with a 40 percent turnover rate would spend $214 million annually Over the twelve momhs ending in August 2004, net hires to replace workers who quit or retired totaled 27.8 million. The total represents hiring to replace 24.9 million workers who voluntarily quit, typically to take another job, and 2.9 million who retired or left because of death, disability or other reasons. More information at www.epf.org. (McGuire Woods 10/2512004) NCUI Form I 04

Employers should have received their annual Cumulative Experience Rating Statement (NCUl Form 104) from the orth Carolina Employment Security Commission (ESC) in mid- m·ember. This tax rate notice form pro\'i.des explanations for unemploymem account balances, computation of credit reserve ratios, and assigned tax rates for the upcoming year. Companies should review this statemem to determine if charges are proper and whether or not a voluntaiy conuibution may reduce next years costs. The cut-off date for the ESC

to receive voluntaiy contributions is 30 days from the maihng date of the CUI I 04. The ESC Web site at v.wwncesc.com has a "calculator" that employers can use to determine if a voluntary contribution would benefit them. Employers will need their account number and PIN given to them on their year 2002 NCUI-l 04 to access this section. N CUI Form 626

The North Carolina Employment Security Commission mailed the NCUI Form 626, Ust of Charges to Experience Ratings Accounts. to North Carolina employers in October. This form contains information on unemployment benefits charges against an employers Experience Rating Account for claimants whose benefit year has expired during the fiscal year shoWTI. Considering the number of claims filed, this is generally an accurate form, but each year many employers successfully protest benefit charges and receive cancellauons of up to several thousand dollars. In some cases, this form is an employers fi rst and only opportunity to request non-charging. If these benefits are not canceled, they >viii be deducted from the employers Resen•e Account and may increase the tax rate or prevent a reduction in the tax rate. If the verification reveals benefit charges for unknoWTI claimants or that meet the criteria for non-charging, written protests must be made within 60 days of the mailing of the form. Employers may also check their potential charges at any time during the year by visiting the Employment Security Commission Web site at www.ncesc.com and clicking on "list of charges." $2M Verdict for Cell Phone Negligence

A former lawyer accused of talking on her cell phone when she struck and killed a teenager with her Mercedes has been ordered to pay $2 mill ion by a Virginia jury, according to The Washington Post. The jury ordered Jane Wagner to compensate the family of Naeun Yoon after a judge found Wagner liable for the teenagers death. The lawsuit

www.greate rc h a rl otte biz. com

included allegations that Wagner was talking on her cell phone with a client when she struck the teenager with her car in 2000. Cooley God ward LLP, which was named as a defendant and was Wagner$ employer at the time of the incident, had already settled the lawsuit for an undisclosed amount, the attorney for Yoon's father tells the newspaper. This case illustrates possible exposure to employers and employees from cellular telephone use while driving. Employers are generally liable for negligent acts by employees during the course and scope of their duties for the employer. As a result of publicity generated by this accident, a number of employers have instituted cell phone use policies. These vary from policies prohibiting use while driving except in emergencies, to requirements that employees use hands free devices while driving. Increasing evidence of distractions from cellular telephone use should prompt employers to consider such restrictions as part of their loss prevention strategies. Employees who travel should also be aware that some cities have laws regulating cell phone use while driving, or requiring drivers to use hands free devices.

(Business Legal Reports) IRS Announces Cost-of-Living Adjustments for 2005

The Internal Revenue Service has announced adjustments to dollar limitations under retirement plans for 2005 including both annual cost-of-living adjustments under the Internal Revenue Code and statutory adjustments under the Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGTRRA") effective january 1, 2005: â&#x20AC;˘ Cost-of-Living Adjustments

Highly Compensated Employees. The amount that an employee must earn to be classified as a "highly compensated employee" will increase from $90,000 to $95,000. Covered Compensation. The annual limit on the amount of a participant's total compensation that can be taken into account under a qualified plan will increase from $205,000 to $210,000.

greater charlotte biz

Defined Contribution Limit. The dollar limitation on aggregate contributions to a defined contribution plan will increase from $41,000 to $42,000. Defined Benefit Maximum. The annual benefit limitation under a defined benefit plan will increase from $165,000 to $170,000. Definition of Key Employee. The amount that an officer must earn to be classified as a "key employee" under a top-heavy plan will increase from $130,000 to $135,000. If the employers plan is top-heavy, additional changes that were enacted under EGTRRA also apply to the plan. ESOPs. The dollar amount for determining the maximum account balance in an ESOP subject to a five-year distribution period will increase from $830,000 to $850,000, while the amount used to determine the lengthening of the five-year distribution period will increase from $165,000 to $170,000. Compensation Limit for Governmental Plans. The annual compensation limit forcertain grandfathered governmental plans will increase from 5305,000 to $315,000. â&#x20AC;˘ EGTRRA Scheduled Changes

Section 401 (k) Plan Contlibutions. The annual limit for elective deferrals will increase from $13,000 to $14,000 for 2005. There will be one more additional increase of $1,000 next year as provided under EGTRRA. After 2006, increases in the limit will go back to the annual cost-of-living adjustments.

Age 50 and Older Catch-Up Conttibutions. The annual limit for catch-up contributions for individuals aged 50 or over will increase from $3,000 to $4,000 (from $1,500 to $2,000 for SIMPLE 401(k) or IRA accounts). The last additional increase of $1,000 next year is also provided under EGTRRA, with future increases only based on cost-of-living adjustments. SIMPLE Account Limits. The annual limit for salary reductions under a SIMPLE retirement plan will increase from $9,000 to $10,000. Deferrals to Section 457 Plans. The annual limit for deferrals under government and taxexempt organization deferred compensation plans will increase from $13,000 to $14,000.

The minimum compensation that will require a Simplified Employee Pensions (SEP) contribution will remain unchanged at $450. In addition to the above cost-of-living adjustments, the Social Security Administration has announced an increase in the Social Security wage base. The maximum compensation for determining the Social Security wage base in 2005 will increase from $87,900 to $90,000. Beware Personal E-mail

Informal e-mail chatter over employees' own personal accounts that are accessed during the workday through company computers has the potential to be even more problematic than officially sanctioned corporate e-mail. Personal e-mail and IM accounts, along with text messaging over cell phones and PDAs (personal digital assistants), are the latest electronic communications techniques that can cause a host of workplace problems, from exposure to computer viruses to sexual harassment lawsuits. Often they are being brought into the workplace and used by employees without the employers knowledge. Almost eight in 10 employers now have policies addressing employee e-mail, according to a survey released earlier this year by the American Management Association and the ePolicy Institute. However, many employers have not spelled out that personal e-mail accessed on a work computer is retrievable, can be monitored, and if offensive, can be evidence in complaints and lawsuits. Employers would be wise to consider adding language to their policy that includes use of personal e-mail. SDA biz

The Employers Association is a nonprofit Charlotte organization providing comprehensive human resources and training services. Founded in 1958, the Association maintains a broodbased membership of over 700 compomes from all industries in the greater Charlotte region. The above excerpts were token from The Management Report. the Association's monthly newsletter. For more information, please call Lauro Hampton at 704-522-80 II or visit their Web site at wwwemployersossoc.com.

december 2004

nred 01

Awards and Achievements Four companies from the Charlotte region - Klingspor Abrasives Inc. of

Hickory, Siegling America of Huntersville, Trans America Reinsurance of Charlotte and Stabilus Inc. of Gastonia - have been

G~8AOU~

chosen as finalists for the N.C. International Community and Economic Development Awards honoring the corporate philanthropy and volunteerism of foreign-owned firms in North Carolina.

Look Beyond The Resume/Interview Process To Find The Best Employees

George Harrison, PMP and senior management consultant with Project Managers Inc., has been

Determine wl"lch applicants will have longterm success Nithin your organization. We have helped companies go from 14%to 85% effectiveness with their hiring process by using our prcven assessment techniques. Contact Schol: & Associates today!

George Harrison

awarded certification as a Six Sigma Black Belt.

Brian Gomme, vice president of LEADERSHIP DEVELOPMENT

704-987-0195

ebasedEVOLUTION, has been chosen as a 2004 Ronald Reagan Gold Medal Award winner, a recognition based outstanding leadership in business and a commitment to

www lmproveYourHiringProcess.com

President Ronald Reagans vision for an entrepreneurial America.

Advertising and Media RED F, a strategic marketing company headquartered in Ballantyne, has been namea. :o Inc. magazines 2004 list of the nation's 500 Fastest Growing Private Companies. RED Franked number 21, the highest Inc. 500 ranking of a Charlotte business in a decade,

OFFERING•••

and is the 8th Charlotte company to be named to the list and ranked number l in the marketing

0 Profe~ sional Broker/Consultant services 0 Long-term strategic approach to benefits management 0 Combined 80+ Years of HR/Benefits experience 0 Value added services, including personalized benefit statements 0 FSA, H RA, HSA plan administration

category of the list. President and CEO of Tivoli Partners, Lisa Bell, has been selected president of the Charlotte Direct Marketing Association. Tivoli Partners, a direct marketing firm, has also announced the promotion of Marcia Merrill to

The

EMPlOYERS ASSOCIATION

Li sa Bell

appointment of Tom Groonell as director of client services. Ma1y Alvarez has been

Your Trusted Resource witll 725 Local Members Proliiding Comprehensive Human Resources and Training Services 3020 West Anuvvood Road • Charlotte NC 28273 704 522 8011 • www.employersassoc.com

promoted to assistant news Marcia Merrill

december 2004

account director and the

director at W CNC, Channel 6 News.

www.greate rc h arl otte b iz.com

Tabitha Carnes of Bewitching Communications has been presented with a Clarion Award, recognizing excellence in the COITLilunications industry

Business and Professional Services Twenty-five lawyers employed by Robinson, Bradshaw &: Hinson, P.A. have been selected for inclusion in The

Best Lawyers in America® 2005-2006. Womble Carlyle Sandridge &: Rice, PLLC has announced the addiJimWitherspoon

tion o f]im Witherspoon, a registered patent attorney, to

the firm's Charlotte

office as of counsel in the Technology and Commerce Practice Group. Carolyn 5arnard

Dixon Hughes PLLC has announced that Carolyn Barnard and Nina Smith, QKA have joined the firm's Retirement Plan Solutions

"Jina S11ith

Group as senior pension specialists.

jennifer Friedland has been named account executive and Mary Ann Jennifer Friedland

Eller has been named office manager at McKinney Personnel Inc. Choice Translating, a comprehensive linguistics

Mary Ann Eller

Rumikc Lane

Thomas M. Gill

firm, has hired Rumilw Lane, a specialist in French translation and Project Management, as translating department manager. CEO Inc. has launched a Health Care Services Division for the company, focusing on permanent and temporary placement of clinical and health care administrative personnel: T homas M. Gill h as been chosen as client relationship manager. ~

greater charlotte biz

It may surprise you to know that our color copier/printers are more affordable than most personal printers. Thats because the cartridges in those printers are costly to replace. And a color/copier printer isn't all you get from us. You get the seNices of specialists in our Color Division who can help you determine the equipment thats right for you. We have a Training Division, too, for your employees, and Application Specialists who can help you customize your new equipment to meet the needs of your workflow. All this and the added benefit of certified seNice technicians. So itS no wonder we're the largest independent office equipment dealer around, with great names like Canon, Sharp, and Konica Minolta. . · G 1ve us a ca 11 an d start gett1ng th e k.1n d o f co 1or you've always dreamed of, at a price you can afford.

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THE AREA'S LARGEST INDEPENDENT DEALER OF COMPLETE OFFICE SOLllnONS

december 2004

A ••NEflll ERA •• OF CONSULTING SERVICES NouvEON Technology Partners is a management consulting and technology services firm providing value·added consulting solutions, via a unique delivery model known as Resource Optimization. NouvEON represents a "new era" in consulting services where clients leverage our Employee Owned Network (EON) of professionals to solve today's business challenges using the technology of the future. Our primary Practice Areas include: • Strategic Management Solutions • e·Solutions • Contract Et Placement Solutions

Share in the value of the "New Era " and become the next partner in NouvEON's 100% referenceable client base!

For more inforrration, please contact (704) 944-3155 or sales@nouveon.com

technology partners

Eric Eicher, president ofThe Steritech Group's Pest Prevention Division, has been honored with a 2004 Leadership Award by Pest Cor.trol Technology magazine for upholding the highest standards in ethics and personal integrity in the pest management industry Co nstruction a nd Design

Peter]. Verna]1:, president of Verna Engineering P.C., has received the Titan o~ the Industry award from the Precast/Prestressed Concrete Peter J.Verma Jr. Institute for his industry contributions during his 54-year career as a structural engineer and general contractor. The Material Handling Industry of America has announced that its CEO,]ohn B. Nofsinger, has received the Material Handling Education Foundation's Norman L Catners Award, recognizing leadership and long record of service to the material handling and logistics industry james E. Woodruff has joined Colejenest & Stone, P.A. as a design engineer I.

Forest University's Babcock Graduate School of Management have received Faculty Recognition Awards for their outstanding contributions to the education and personal development of students. William Ribarsky has joined the computer science faculty at the University of North Carolina at Charlotte as the Bank of America Endowed Chair in Information Technology, the first recipient of the endowed professorship. Stephen Mosier, associate provost for research and federal relations at the University of North Carolina at Charlotte,

december 2004

www .greaterc harl otteb i z.com

"Choice always divers what they promise." G.U1 te;t ~L·;stu-ecl that your trdl1Slation ptojects vvill be deli>et-e<:l on-riJne, on-budge~ mxl with 100 percent a<:cur<~cy.

\VJ·h Choice Thm;,Jating you

has been named the universitys vice chancellor for research and federal relations, a newly created position .

R:Jl a full r<mge of linguistic services delivered with tmmatd"leCl quality <U1<l ptofessionalism,

Queens University of Charlotte has recently welcomed five new members to its board of trustees: Hank Hankins, Ben

Hawfield, Parker Nonnan Call, Carol Carson Sloan and Kitty Tilghman McEaddy. The experiences of Dean Colvard, former chancellor of the University of North Carolina at Charlotte, have been recorded in a new biography: "Dean W Colvard: Quiet Leader," written by Marion A. Ellis. The College of Health and Human Services at the University of North Carolina at Charlotte has received its national accreditation by the Council on Social Work Education. Financial and Insurance

goodmortgage.com has been ranked number 255 on the 2004 Deloitte Technology

Fast 500, a ranking of the 500 fastest growing technology companies in North America. New World Mortgage has been cited as closing more loans (fourth in overall loan volume as measured by dollars) than any other mortgage brokerage in the Charlotte metro area and has been approved by The Federal Housing Administration as an FHA-approved loan correspondent.

Community So uth Bank has been designated as a "Preferred lender" (PLP) in the North Carolina and South Carolina District OIIices of the Small Business Administration, the highest certification available to institutions that make loans through the government-guaranteed loan program. Government/Non-Profit

Mecklenburg County Commissioner

Nonnan A. Mitchell Sr. has been re-appointed to the National Association of Counties

Human Services Steering Committee and Homeland Security Task Force. Charlotte Regional Visitors Authority has named Tim Newman as its permanent CEO: Tim Newman, currently the presTim Newman

ident of Charlotte Center )-

greater charlotte biz

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City Partners, is the organizations first permanent CEO since the merger between the Auditorium-Coliseum-Convention Center Authority and Visit Charlotte, the convention and visitors bureau for the Charlotte area.

Tom Hughes, vice-president and general manager of The Hearst Corporation, has been chosen to return as chair of the 47th Annual Greater Charlotte Heart Ball, Charlottes oldest black tie affair and one of the American Heart Associations largest fundraisers. The Lake Norman Executive Board has formed for the purpose of capitalizing on growing business opportunities in the Lake Norman area;John Hettwer, president of Payroll Plus, is founding president of the group.

Health Care

Anthony Asher, M.D., of Carolina Neurosurgery and Spine Associates, and director of the Brain Tumor Programs at both Carolinas Medical Center and Anthony Asher

Presbyterian Hospital, has been elected vice president

of the Congress of Neurological Surgeons. Dr. and Mrs. Glenn E. Ketner Sr. of Salisbury have donated a $1 million endowment, establishing the Glenn Dr. and Mrs. Glenn E. Ketner

E. and Addie G. Ketner Family Nursing Professorship, for nursing professorship at

Lenoir-Rhyne College; the gift establishes the first fully funded faculty endowment in its Nursing Program.

Real Estate Shea Homes has added four new team members: Michelle Scott as builder sales representative, Derek Stovesand as budgets and contracts administrator, jenny Elizabeth Walters as administrative assistant, and jim McGee as assistant superintendent. Retail/Sports/Entertainment Speedway Motors ports, Inc. has been listed as number 179 on the annual Forbes magazine ranking of the 200 Best Small

december 2004

www.greate rc h arl otteb i z. com

Companies in A merica for companies with

revenues from $5 million to $750 million per year, net profits greater than 5 percent and share prices above $5. Discovery Place has announced the appointment of former staff member Dean Briere to the position of vice president of Discovery Experiences, a newly-created division. D ean Briere Regina Maxfield has joined Donald Haack Diamonds and Fine Gems Ltd. as general manager. Freeman's Car Stereo, a mobile entertainment prodRegina Maxfield ucts retailer, has been featured in TWICE magazine, a national weekly publication for the consumer electronics industry, and named as one of six "Retailers to Watch."

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www.w nhp law.co m Technology Peak 10, Inc., a data center and managed services provider, has announced the acquisition of Xodiax, a Louisville, Ky. -based provider of managed services, collocation, hosting and connectivi ty. Exervio Management Consulting, an information technology consulting firm, has announced the following new additions to their team: j eff Brewer as manager and Frederika Angus and Tony a Simpson as senior consultants in Information Technology; and Catherine Carter, Derek johnson, Dung Ly and Matthew Miller as senior management consultants. Tourism and Travel j ean joiner has been

Jean Joiner

named national sales manager at The Park Hotel which is owned and operated by Bissell Hotels of Charlotte. biz

To be considered for inclusion, 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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december 2004

Biz News and Announcements

Harris Center .., Ideal Business Re treat Destin<Jtion

Scheduled to c pen in january 2005 on the west campus of Central Ptedmont Communny College, the Harris Conference Center will becon e Charlottes only purpose-butlt execuu.re conference facility. The 13,000-square-fot•t facility is destgned to appeal to exec uti\ _sand meeting planners Wtth fourteen tho.Jghtfully-destgned conference rooms and sme-of-the-art technolOg)' such as built-m \1deo screens and teleconferencing facilities, ti-e Harris Conference Center will focus con making the meetingplanning process c.s simple as possible . "Our facility saves ani he. We are an executive day meeting conference facility with no overnight guestrooms. Groups that meet at HCC will :lo so in support of the CPCC missiOn, w ich is to be a national leader in workforce development ," according to Steve Brenrnn , director. (wwlv.cpcc.cdu/h cc) Wake Forest Top the Lists

Wake Forest Utttversitys Babcock Graduate chool o- Management ts one of the nations most OJtstanding busmess schools according kJ the Princeton Rcvtew, whtch just pubhsh, d the book "Best 14 3 Business Schools" ha ed on student surveys and 111smuuonal se1ool data. The pubhcauon does not rank he schools but It ts them alphabeucally and lro,ide comments on thetr strengths and weaknesses. Bustncss Wcch r;anks the full-um e MBA program at \\'akc Fo rests Babcock ::.choo l Jmong the nauon ~top 50 1n 1ts must recent suf\'e) of MBA graduates and corpPatc recruiter~ The Econom1sl h 111cluded Wake Forests 3abcock School 111 1s rank111g of the worlds Jest MBA schools. 1he Babcock School "Jiaced o. 63 111 the 111ternauonal list of MBA schools and placed - o. 38 among U.S.-based schools. Thts ts the irst year the Babcock School has been ran-<ed by the publication. 14

december 2004

The full-tim e MBA program at Wake Forests Babcock School was ranked No. 45 111 the world 111 the fourth annual SUf\'e)· of graduate bus111ess schools conducted b)' the publication Amcnca Economia. (www.mba.wfu.edu )

I Bizi Hub l BizHub Announces Affiliate Program

The Charlotte Business Hub , Inc., (BizHub) has announced its Affiliate Program for the purpose of estabhsh111g relationships with sef\1ce pr0\1ders who are capable of meeting the diverse needs for BizHub clients 111 offering the widest range and variety of resources in one place across the region. The BizHub Affiliate Program is being alTered to for-profit companies pr0\1ding products or sef\rices to business and nonprofit organizations including professional , trade and government groups sef\ring business needs. Each AlTiliate will be required to complete an application in order to be qualified and properly identified in a \1rtual resource center. AlTiliates will pay annual fees of $100 for a non-profit organization and $350 for a for-profit company. Benefits 111clude \irtual or targeted staff referrals, extensive markeung in a sixteen-county reg10n . an onlme profile with access to the BtzHub custom searchable database, incluSIOn 1n the master calendar for any events being alTered by the Affi liate and access to the centers conference and class room facihues. According to B1zHub execuuve director, frank Gilmore. 'There has been a tremendous Interest by compa111es and orga111:auons wantmg to become an affiliate. Man> enuues sec the need 111 the Charlotte area for a center hkc the B1:Hub. wh1ch has resulted 111 them s1gn1ng up well before we had clearly dcf111ed all the program benefits ·· Many compa111es, whether 111 busmess for years or starting up, are 111 dire need of direction, but with a sea of options 111 the reg10n. they are not sure where to turn . B1zHub will help narrow down , sort through and give

basic step-by-step instrucuons to help a growmg busmess of any size head m the nght dtrecuon , sa\1ng \'aluablc ume . "It 1s a general assumption by many that runn111g a bus mess is easy as long as you know your product or se!Vlce," states Maggi Braun, D1rector of CPCC:S Small Busmess Center and a board member of the Charlotte Busmess Hub, Inc., "but without the proper education and resources , it can be very overwhelming and time consuming for a business owner We see this everyday." The BizHubs focus is to enhance economic growth as an all-inclusive , one-stop regional resource center to facilitate and improve access to inforrnation , assistance, opportunities and knowledge for anyone in need of guidance in business. There is no membership required to take advantage of the smrices pro\ided by the BizHub, Center for Business Success. Full access to BizHubs resources and the focus on being a catalyst in helping area businesses realize their fullest potential is what makes the BizHub unique in the area. 'There has never been a coordinated resource center for businesses in this area," according to Fred Miller, executive director of the Busmess hlJansion Fundmg Corporation . "The BizHub will give companies C>-lJOSure to a wide variety of resources they did not know existed or they could utilize. Our organizauon is underutilized because many people do not know what we can do for them, so by jOining the affiliate program, we not only help the community by shanng our knowledge, but we will gam referrals from lt.'" The Charlotte Busmess Hub , Inc. wlll operate as a ft rst-stop resource center for facdttaung rcgwnal busmess growth covering a siXteen-coUnt)' area Funded through a mulu-ycar commitment from the Ctty of Charlotte, Central Ptedmont Community College, and other foundmg partners, BizHub will offic1ally open 1ts doors in 2005. The physical and administrauve infrastructures are currently under construction . The BizHub will be located 111 the second floor of

www.greate rch arl otte biz. com

the CPCC Bookstore Building located at the comer of Independence Boulevard and Elizabeth Avenue. (www.bizhub.org) 2004 BassmasterVisitor Impact Study The 2004 Bassmaster Visitor Impact Study is now complete. Key findings are that: • The 2004 Bassmaster Classic brought 10,856 out-of-town spectators, BASS Outdoor Show exhibiting organization employees, and BASS Inc. employees to our destination. Subsequent direct spending totaled $8,060,189. • Total economic impact on Mecklenburg County resulting from the above visitor direct spending is $12 ,343,136. • Bassmaster Classic visiting spectators, BASS Outdoor Show exhibiting employees, and BASS Inc. employees combined consumed an estimated 16,063 hotel room nights during the course of the event. • Prior to hosting the event, anticipated direct spending was $7 ,643,689 and economic impact was estimated to be $11,722,015. The actual event surpassed those expectations by 5%. SHI Named to Forbes Top 200 List Speedway Motorsports, Inc. (SMI), a leading marketer and promoter of motorsports entertainment in the United States has been named among the 200 Best Small Companies in America according to an annual ranking by Forbes magazine. To qualify, candidates have to show a consistent pattern of positive growth during a five-year period. The annual feature, which appears in the November 1 issue of the prestigious magazine, includes companies with revenues from $5 million to $750 million. Speedway Motorsports became the first company in motorspons history to go public on the New York Stock Exchange in 1995. Industry Experience Outranks People Skills Personality may be a plus, but it won't necessarily land you the job. In a recent survey, 41 percent of chief financial officers (CFOs) said industry experience is the factor

greater charlotte biz

most likely to tip the scales in an applicants favor, while only 1 percent of executives cited people skills. Thirty-three percent of respondents said individuals with software and technology expertise have an advantage. The survey was developed by Robert Half International Inc. and includes responses from 1,400 CFOs from a stratified random sample of U.S. companies with more than 20 employees. CFOs were asked, "If two candidates interviewing for an accounting or finance position had similar skills, which one of the following additional qualifications would you find most valuable?" Their responses: 41 % 33% 15% 7% 3% 1%

Industry-specific experience Software/technology knowledge Certification or advanced degree Multilingual skills International experience Personality/people skills

"Executives value job candidates who understand the issues and challenges specific to their industries and who can contribute immediately to the company$ success," says Max Messmer, chairman and CEO of Robert Half International Inc. Messmer added, "As organizations face mounting pressure to meet corporate governance regulations and ensure the security and integrity of their financial data, technical aptitude becomes particularly important. Employers seek accounting professionals who are proficient with the latest database applications and enterprise resource planning programs and also can collaborate with IT staff in implementing upgrades and systems conversions to increase operational efficiencies." (www. roberthalffinance.com) World Affairs Council Sports New Logo The recently renamed World Affairs Council of Charlotte (WACC) (formerly Charlotte World Affairs Coundl] , a non-profit, non-partisan organization located in Charlotte and one of nearly 100 chapters affiliated with World Affairs Councils of America, has acquired a new logo. Founded in 1983 as an outreach program of the Office of International Programs at UNC Charlotte,

The World Affairs Council of Charlotte is a non-profit, non-partisan organization supported by private funding from individual and corporate member dues. The World Affairs Council of Charlotte focuses on improving international education and encourages citizens to participate in the debate on global issues. They are a regional center for education and discussion on current events. Through recognized speakers WACC seeks to provide leadership for global thinking, believing that responsible citizenship and a broad perspective is necessary for effective competition in a global economy They offer international exchanges, school programs, teacher workshops, national opinion polling, foreign policy discussions, travel programs, journals, newspaper columns and local radio and television programs. (wwwcharlotteworld.org) Tax Breaks Available for Armed Forces There are a number of tax benefits available pursuant to the Military Family Tax Relief Act of 2003 to members of the Armed Forces serving our country ranging from helping military personnel manage the costs of homeownership and dependent care to education costs and travel expenses: •Death benefits increase. •Tax return filing date is extended. •Special tax treatment for military homeowners on sale of a personal residence. • Deduction of travel expenses by reservists to the extent not reimbursed by the military •Special housing assistance payments when home values decline as a result of the partial or complete closing of a military base. • Dependant care expenses are tax-free . ~

december 2004

A Southem Fa ify Business

S ccess Story

About •jll() Cl€ram: of a' I d1E bric~ made &n th ~ US are made a r S(:eeli! .-Jaehi nes.. ~·ey~-, about 50 perce:nt Df tho:: r::>m p c.-

ny's ~kcS' o r r~v.· rr a.chi nJOrj are oc""' going a..I::JrQa-d.

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tiJ:»€ >"'hea. :na~ ::ron•rni.c e:xp(:l13 are lao min~ 6e dt:Lre o:i heavy r::.:muf:;.ctJring in l.-J.~ C harlot:~ regi.JT_, one -aun f:uru.-, o ~ :i o:o-npr::,- in ~· tatesvillc i3 1Ji.l.~ J-:.s-t ~- e.j.C S:cd&: & 5ar.s bas l: ~ p«:·ct.t<.Y ~i:le day •'-orki.r~ 1a~dune:ry us..."<i ro make bricks s-x1ce :.8&9. ~ d:Iy t.kc pla:u Dn t.tlhn; Stn:et i5 wor1--' ~ c::-~p mded hours :c• £ 11 it;; J::.rgest onl.c- ~:lt:T- for a cus-:.cr~ 2:: ..n S~'.udi A:rahia. '&3:·,, ,· :-.anufa·: turir..~ is s-.qp~ed c: bt: tkacl, ' sa~~ Jolm Sleek , c::..£ oft\"O ::ou si::.s no<>r a the helm afj.C. St.x..c& Sons. ~c. tY.e'v_ :>een ab ..e to t: 'qX'""ld b } dcvcloping•e"" ~bb.li rnarkl G.].C. St~ - ~ & ~.ons is .th.e li:~ s : pro •: er of 1CaV} dl'.y produc.s mx•inc::y -• :... ~ l. rri-:d S-:ar:t:s .Ap::rCXllllalcl) ~l perc:crrt d 4th b ricks m ;.de '..n the rJ.~ are rnuJe cr. ~ LetJe: man ines. ~~Hr. ll: out .5( percen t c·f the ·: cnp:r-:'s s-a~ ;; of

new mahmer,· a£e n JW goiD.g abrcad. 0~r the pas: t-.,.!e:ltr ycars.J. C. Steeles sales have gr(JW;l by aoout 250 percn~:, ::>rimarily vecaus~ tke compan) is r::a.::hing new make:ts :n A.usrraha, Asi~'. , t..::le Middl e Ea~ t . aad South A.oo:::cca Altl-cush LI-t~ ::ompanys directi•Jn is in the ~nds - its fourth 5~Lerati.•JI of 'amity 0 \\-"llet~,J.C S· eele remain.= focused on wha ir was Ioun ed tc do: it is e::1gagt:d exdusiv~ _ i• the manufactare of d ay rocessi.ng eq:ti?mert. I t fuas Up;inded iito new llarkcG, nCtt ne-~o~o· "Jroducts. "We':re a rllc:te busineso,... S3}S _-o hn .= reeie. ' -Wt:'re ~ tickin~ to our larttinsa.nd doing -wha1 ~e're gooj at.' . Joln ~clt n SteEle, 55, and DaVId ~lli:r:iiE tee~ ~- 3 (, t ead up J.C S11eele &- Socs toda)- 1~ tiLes U.:y cary are -:.lritrpcrUnt sit::c they otate them ~el)' rwo y~crs bt:t the ±~ ion cf resroffiibili-:y. is essentiat. One is "VIr. lr...sJCt: ,. ·1hle th ~ C•ther acts as ,. lr. O·.nsid~ . ~ Da">ic ism charge ::>fthoe :nannfacn.tring an:i ~ee ring a ; p~cts Jftl-e C•Jopanr- He :;e s tlut the po d• ct ~ male. J(•h• is · he guy 01 the ;rirpla: ~ - ~·;~l oping n e-;v mrh.ets ill 0'.-er the w Jrld. \\orkin,5; tog::t1e ~. !hey get the j cb do•t: . ._

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"David is an extremely bright guy," says john. "He's the classic clean-up hitter. He pays attention to the details you have to get right for a business like this to be successful. " David is just as enthusiastic about his cousin's skills: 'john is great with customers. He has a rolodex you would kill for. He has good business sense and is a great judge of character." In the beginning

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james Columbus Steele was born in Iredell County in 1839, a descendent of the Scotch Irish who migrated from northern Ireland to Pennsylvania and then to orth Carol ina during the eighteenth century Although his family were farmers,] ames was tramed as a carpemcr. When the Cl\~l War began , he enlisted in the North Carolina in fantry Unham1ed in baule, James walked home from Appomauox, Virginia, after Lees surrender in 1865. With many of the fam1s, factories, roads, railroads and houses around him in shambles, james saw an opportunity to help rebuild the South. He acquired, or operated for others, several basic sawmills and small brick factories in or near Statesville. At his brick factories , he began using a new auger machine, first introduced from Germany in 1857, to produce a continuous clay column which was then cut into brick. The new machine repla ed the traditional hand-molded or pressed-brick method used almost universally since prehistoric times. Finding it difficult to get replacement parts for the new machine, james set up a small machine shop and found ry to make the pans. Before long he was supplying pans for similar equipmem to others in the brick manufacturing business. ].C. Steeles oldest son, Clarence Montgomery joined the business in 1889. That same year, Steele received a patent for a two-wheeled "Hand Operated Brick Truck," an early form of the forklift and a great laborsaving device for brick manufacturers. Two years later, when his second son Henry Oscar entered the business, the name of the company was changed from " ew South Brick Machinery Company" to ').C. Steele & Sons." Soon the younger two sons, Flake Futhy and Alexis Preston , also JOined the family firm. By 1912, ]. C. Steele had turned the day-to-day management of the business over to his four

sons, although he maintained an active interest in its affairs umil his death in 1921. In 1922, Flake Steele moved to Winstonalem to manage the Pine Hall B1ick and Pipe Company, while the three other brothers continued to guide the Steele organization. During the period between 1926 and 1932,j.C. Steele & Sons became recognized as one of the four or five most important United States manufacturers of clay working machinery For the most pan, Steele equipment was considered simpler, cheaper and less sophisticated than that which was being manufactured by its competitors. The company also began to do business with brick manufacturers in Canada and Mexico. With the depression lifting and the country prepaling for war in the years 1932 through 1946, the company was doing well but its leadership was aging. The three brothers were joined by ].C. Steele Jr. (son of Henry Oscar Steele) in 1935 and by Preston teelejr. in 1936. However, the war years brought many changes to the teele organization. Bothj. C. Steele Jr. and Preston were called to active duty and, with the deaths of Clarence and Henry Steele, only Alexis Steele remained . He headed the business throughout the war years and remained at its head , at least nominally, until his death in 1959. After the war, bothj.C. Steele Jr. and Preston returned to the company and were

STEELE 710 South Mulberry Street Statesville, N.C. 28687 Phone: 704-872-3681 Founded: 1889 by J.C. Steele; incorporated in 1946 Principals: David S. Steele, Chairman; John S. Steele, President Employees: 160 Business: Largest producer of heavy clay product machinery in the United States Family members involved in the business (at one time or another): Clarence Montgomery Steele, Henry Oscar Steele, Flake Futhy Steele,Aiexis Preston Steele, J.C. Steele Jr., Preston Steele Jr., Clarence N. Steele, Montgomery Steele,John Shelton Steele, David Sherrill Steele www.jcsteele.com

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soon JOined by cousms Clarence . Steele and \lontgomer} teele. The busmess was Incorporated m 1946 and all fh·e Steeles were made officers of the corporauon and compnsed the management group. It was atthts ume thatJ.C. teele &: Sons began the tradition, whtch continue today, of rotating the titles of president and chairman of the board. The five members of the management group act as an informal committee making decisions by majority agreement rather than by the individual who might be designated to a certain position at a certain Lime. Dot Presser, whose advertising company has worked vvith the Steele company since 1947, says this policy exemplifies the great work ethic that everyone in the company has. "Nobody takes the company or their place in it for granted," she says. "The relative unimportance of 'titles' is significant. There is no pettiness. lt's a great company" The immediate postwar years were characterized by a sustained effort to catch up with the backlog of orders for machinery required by the rebuilding and expanding brick industry The management group at Steele recognized the importance of keeping the machines continually running in brick factories. Throughout a century of manufacturing clay working machinery and parts, everyone at Steele has understood that orders for repair and replacement parts must always take precedence over those for new units. A prime factor in the business' success has been its ability to provide high quality pans at reasonable prices quickly "Our fathers had a pretty good game plan," says john. 'They understood what it means to have the parts in stock when someone needs them. We're extremely vigilant about that. We try to make ourselves indispensable to our customers." "It's very expensive to a brick plant if anything shuts down," adds David. "We are there to keep the machinery going." Continuing the tradition

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Duling the 1970s the fourth transition in leadership occurred atj.C. Steele&: Sons. john Shelton Steele, son of ].C. Steele Jr., came to the company in 1971 after receiving a bachelor's degree from the University of North Carolina. Foreseeing the advantages of a graduate degree, he also obtained an ~

greater charlotte biz

dece1ber 2004

Hot molten steel is poured into forms to make the parts for h e bricl:: making machines. ~.B.A. from Wake Forest University in 19""'5. David Sherrill Steel son of Clarence N. Steele, graduated from North Carolina Stae University with a bochelors degree in Industrial Engineering and came to work for the company in 1975. Under David andjohn's leadership,j.C. Steele & Sons has continued to thrive. Davirl has seen that the business has become more productive and more efficient, incorporating the changes brought about by automation md technology into ..he manufacturing

process, while J<nL has c.eveloped new customers in glob3l 路mrkets Today the company has agents in Sont- Afrio., Australia, South America, South Eo-ea an:i Malaysia. In 2000, Steee bough: a German company, Handle GambH, Jre of iG chief competitors, to give the compm:- a larger foothold in Eastern Europe and Russi3.. Steele is also getting ready to start rranufa:turing in China. "Nobody kr O>A路~ how big the Chinese market can be," ~rs john. "We're just starting to explore a .路

Steele & Sons is one big extended family All of the shareholders are descended from the founder, J. C. Steele. Many of its 160 employees have been around long enough to be considered family as well. About 35 of them have been with the company for 25 years or longer. The company has an excellent bonus plan that everyone participates in. In one hundred and fifteen years,j.C. Steele & Sons has never had to lay off employees. "When times are slow, we work shorter hours," says john. "When times are good, we expand hours. When the company does well, we all benefit." "We have great employees from bottom to top," adds David. "We all have the same benefits. There are no special executive perks." The Steele cousins are betting that the same attention to detail and commitment to quality that their grandfathers brought to the business in the nineteenth century will keep the business growing and prospering into the twenty-first. As to its future leadership, there are a number of good prospects in the fifth generation, although none is currently working in the business. "I've told my own three sons to go distinguish themselves somewhere else and then see if they want to join us," says john. "I want them to understand that nobody lives out of this business. People work here and draw a salary Its a company, not a private fiefdom." biz Caseyjacobus is a Charlotte-based freelance writer.

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Democ-3. ,:.: palt.ical a-ena ll W'lS

the! he detcrn.iled he wou'd t:y lO g~va..ilZC a R~pub ican preser:..~e in hi: r:rechcL. \\ hi:e War:h joking!:· d~a-..,rl3, '· I .~es~ there ti.OCls were cor~ derabl~ m01e

truistic..

!Clat~3

~as Jiit a

lust for :-J:er iJ ny I·eart. · is atr.bt-

\Urtir. 'The O\ er-. h~lrr. i-~ poliLcal LEl!Orit·.

''ia:> 1-andicc.r;:r...-g choices fc•r the pnple. I fj "~t w()...ld oenefit g-e~Lly

Ermu m•.•re orplll-

tiOCl ~/hi.J e I rea.i.zed a. tl1e .ine that ny JeckJ.:-.g phi OSO:Jh)' COLd Je COJ.SdeTLd C\ r

sli§l-dy

:o:l;tn"l.LIV·~ .

my ea1I1gs to"Vc.rd the ~publc'l.n Party at

oren cal polil c.; than i:leolcgi:::c.l posinor."

::1E

:irn.:: w::re mud

:ioJ

no··~

"Daniel, F.atliff & CorT pany is very efficient, t1orcugh , and always producffi excellent work. They have beer our accountants for a rurmer of years wit~ no problems. Such a pleasure to wor"' with ."

'-lo-..lE:re i3 this more evi.d~nt tl-an ~ta~ur:; ~itia ives as tre two-time :1--ui- :i the Md :enb..Jrg County Commissi:):JU.;

tock the fall .md sprir_g •Jff from his prcfe~ sorship at Dcvidson, established a campai.sn based on fisCJ l conserva:ism and milita-y

ing5, 1-/.mi.n CL3.mpioned significart.l::ircr::as~= school

strength, an entrenched himself in the f Erce congressiona Jattle fom whi6 he woulJ

rr.eu e:1-:~e

em~rge

funding. "Every dcp3.1":to the coun:y with budge1

rEquesG, and t appeared that school~ always ::r_:::.ed ..1p last in line. \iv'e mo.d:: < :::ur DeTlloca_;

Co!fCJurse

dum o-

be~rudgingly

~.1.od

allowed a :: ele:""-

bonds and thc.1.

cam{:Bi.~o:d

agahsti: we took them to task, evmnt-<L:seCI.::r:r?; :1e fLnds," says Man:n.

www.dlnielratliff. ~om 301 5. McCoweU 3trt:et Suite 502 ChCI'Iotte, NC 282QL 104.371 .5000

1~ 5 E Plaza Drive Suile 101 Moo·esvil e, NC 28115 : 04.663.0193

Harir. was also integral in implellcrLi "15 la1d usc p anri.ng, zomng ordinances <.n.:l nBJ:S fer -1e county, ge.ting water ard ~OI'"c:r line~ to _ lini~

nccrporated areas outsidE t:-e d y

rd =stchlishing the first enviJOn_-.a_-

ta; nfotecnen_ mechamsm in the sta.t.

it all Adds Lp.

hlarti-:~

loc:ll commitment was vo.ILed,

and <e -..,c.5 approached to repl<.ce to rep~·:>:

december 2004

reui.ng U.S. Representative, Charles Jo•o.~, as the Republie1n candidate for Congress. H~

Citbg l =·~m ocratic tendency to dnerni-e bJc,ge: a1ocations before conducting h ~<.I

rris:;i·Jr t= tun that amund. When

fi,fi',, ( ,:n,T/.J/ Mal~t~rd Hrt~d

Ca ~ol_,3:5 Medical Center (CM=! i5 -dle flagship facility of Carolinas HealthCare Syrte111 As o ne of North Caroin:a's large:st hospitals, it serves as the regional r eferral center fer western North Carol ina.

vi.cto1ous.

Facing Serious Health Care Issues During hi3 si...-x-term tenure in Conge's from 1973 tl-.-ough 1985, Martin becaTI:Ie heavily invol•ed wi.th ~he issues of 5Jci<..l Security and v!edicare. He served for tel yea~s

on the uberpowerful House Ways

a~::

Means Comn.iuee and b ~came rank.ng Republican 01 the Medicare su":JcommittlE. In 1982 he src·nsored HR 7000, a groundbreaking bill 1-at proposed pro~ectir.g individuals apinst catastrophic medical expenses (hig,1-cost expenses related to ;nious chronic il ness, accidwts or surgeries~ J)' providing a guarantee of financial as~istm:~.

www.grE-atercharlottebiz. :om

lr teres'::Il~y. E-;_-:-:::oo::et the , .age fer

tc ~e as -e:~lfr ~ '-n:f .e=pe:nses em[::LJ the =·:offc;cf emp.J,.e:r:; a._ =.:ross tl-E nai:m. :.":,s vh-:r::in,_ "N;:. "'~ r:: j-~ tle:1 d~·;elopir.g h ~a5e c[ c:xLc_ ·E::;· ar_d ether-vise_bJt we l::nex it ~s :;a_ thi tt e ~J:ioyee ~.J..re 3. s·cl::e in tE medl::::l t:catmtnt" 1·_ V'll:= ilio ~vi:Hlt to :c.-:in ;a.= h_s CJq;reso:;ona_: eers tfu-l. the. ·Jp~::n; £::.-as of ~uality url a:·:ess ::cw.·c creat<:. c. cr.:x:o :Oince h£01kh ::Il91r=.nce was fim ir.tnj -_ :~d in \',-/iiJ. ~. ;:_, er:1pbp:r iLCentiv~ :b::ca.L::e o: ~ V£.~ r..-:2eJ, it h<-3 becc:xre 3. i;:t:egtal :x:mr:~ c•f e:n-:>.oyee: m~n x. . C•n ::r.d a.b::rE:fi. ~ -:rpl~-ee:,; h~ CO:JE- tO ~xpcct Unk>rtur~~ 01s bt:ab care 00':15 ri._::e ~ :o .rlmi.ni:n:c::i:n :::e3 te·:hmk·~ :al 3.00 -ph:m:n~:"'Ut ,::j rlJ3.U:~, UTL~Ci!3&~/ p:::·cEdn-es ani o-.c -_~E o :- indis~ us: :i ~!V...:e:: Mtt .___: reg;rc :Jr o s:. :J-Sin~OIS ae f-:1.~-•g.t ~-n :h 01s H ,CCO 3.rm-nlly ptl -:.ril) <:•- fcm for he1th ::n-: fits :o otrcacl a:.i -<eep ~·)= emp•Jye ::s. n .:: cosJ f ibs 6 st.::~ = US u' ines;es: =-s ;nal bEin:s::es CL -nble under the ..,..-eig::t Jfleal::n iiL"'Tarc ::o:-,;3, the Del nc::se 1::-_sit.h:: -ealth

rc de-::c._c: lhat :crtin..es

~£50

: DAde: -Jr :::e rest of the economy drs u:: . .1. dc·:tir o effect ensues_ Sot:~·~ rtir _"T - 5 is why it is important tb.t. -.oe b :;e a 1:11a:i-:e:t operation in health ~ F =- ~,erso:-: Teajzes the cost of services I::E _:c_n~ !ley a:-~ po:rng for it out of their own ~·e : . ::a::y w_- tc able to evaluate the need · -t 1hs emp :·\\oe~s them with the ability to ::E.:::rrn-.: ho>;>, moch they will ultimately pay lo: ~.1Ih care_ t die same time, most people ::.rDJ: p1L1. or rueget for chronic illness, sur~e; rr Etten.:kd ::trre, and we felt these p;o :•:_:xt ~ruld .:-:: pc•tected from the financial m::::1 _he~ ·itlk 'l:OR: :an cause." HK ;o~o W3 t:-_e precursor to more recent ;x::p:>SC._!; t::> re±ve .he burden of health n:--:.TLc costs: _,n .r-tployers. MSAs and 1-.•:=.tb e/ ;odical :_n:_ Health Care Accounts, ~:;), JLsher- deductibles and co-pay~G :d ..-ate -r:su:-mce and catastrophic n:-:n.~:c bor:- •Jn rl-.e horizon, as does the =>?=' ~ cpti•x.: uonalized, govemmenti.J.xkd l-E2lth c-'fe f:::r all US citizens. l ..:<rr:i:l's bill :lien t pass despite strong co:p:n;:J-mppoo. ~ felll4 votes short, since :k: ·=~·:sLioc ~J Llt' bill was split into two ?=~ Ht reca~ ''Jle (Ted) Kennedy

Democrats were pushing for government to take fiscal responsibility for health care, and the more conservative Republicans felt that ratifying the bill could jeopardize the market factors that already existed. These two camps split the remaining support." With regard to the recent November elections and the rhetoric involving the double digit rise in health care costs and the 45 million uninsured Americans, Martin estimates that the debate is getting increasingly sharper, louder and more urgent "The conversation focuses on three factors: the cost, access and quality of health care. Currently we want the best, state-of-the-art treatment, we want it immediately, and we want somebody else to pay for it Something has got to give." He explains, "We want everybody who needs medical care to receive it, but if everybody receives it and NOT everybody can pay for it, someone or some entity must absorb the cost These costs get spread among medical facilities, paying patients and government; any part the government pays means fewer funds allocated to other needs. If health care is nationalized into a government bureaucracy, other programs suffer." ~

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:26

This rmses other hot-bunon issues like funding for homeland secunty. the military, tax refunds, social secunty, educauon . The hst goes on and on, and therefore so does the nauonal debate on health care. As of 1984, the Congressional maJOnty had continued three decades under Democratic control and Martin sought another avenue from which to be politically effective. Now empowered with considerable political experience and clout, Martin chose to run for Governor of orth Carolina. The Governor's race was best characterized by well-publicized in-fighting among the Democratic candidates. The fallout facilitated Martin's win. His pet issues evolved into the next term's campaign mantra: "Better Schools, BeLLer Roads, Better jobs," and he enjoyed considerable support for his initiatives. Says Martin, "ln eight years, North Carolina moved from 38th to 28th in per family income; that is a considerable improvement." Successes like these secured james G. Martin a national reputation as a commined, motivated and accomplished public servant, and a North Carolina political icon.

december 2004

A not-for-profit, self-supporting public organization under the Hospital Authority Aa I000 Blythe Boulevard Charlotte, N.C. 28203 Phone: 704-355-2000 Principal: James G. Martin, Ph.D., Corporate Vice President [Former U.S. Congressman, Former N.C. Governor, Former Chairman of Mecklenburg County Commission] Founded: 1940 as Charlotte Memorial Hospital Business: Largest nonprofit hospital management company in America; fourth largest public hospital system in the U.S.; the largest healthcare system in the Carolinas, and one of the largest non-profit healthcare systems in the nation; owns, leases and manages hospitals and numerous nu rsing homes, physician practices, home health agencies, radiation therapy facil ities, physical therapy facilities, managed care companies and other healthcare-related operations; 4,300 licensed beds.

www.greate rchar l otte b iz. com

Working for the Future

Today, as corporate vice president of Carolinas HealthCare System, Martin is primarily engaged in representing the interests of the hospital system and its patients in health care debates and forums in Raleigh and Washington, D.C. ln addition, he is a director of the North Carolina Biotechnology Center, a private, non-profit corporation established in 1981 by the General Assembly to support and nurture the state biotechnology industry. While serving as Governor of orth Carolina, Martin worked alongside several of his congressional colleagues and developed relationships with several members of the current administration. Says Martin of h1s work today, "My work has brought me back m contact with Health and Human Sen'lces Secreta!)', Tommy Thompson , who sen·ed as the Governor of Wisconsin while l sen•ed as Governor of North Carolina." Along with former .C. Governor jim Hunt, Martin co-chaired the research commiuee whose purpose was to solidify and expand North Carolinas position as a formidable player in the biotech industry Hunt and Martin presented a 54-point strategic outline this past October to Governor Mike Easley; its purpose: to define the necessary steps to keep North Carolina in its current 3rd-4th ranked national standing for biotechnology North Carolinas dedication to biotech has culminated in a $3 billion industry and 32,000 jobs with ave rage annual salaries of $50,000. Martin says that implementing the studys recommendations could create 48,000 new jobs in the next decade and 125,000 jobs by 2023. "My work fo r biotechnology in general, and fo r the Center in particular, is to facilitate applied research to improve the delivery of health care by creating new drugs, new techniques, new technology, and innovation. Not only is this helping to improve health care, but also it helps North Carolina fmancially By emphasizing invention and product development, we promote job growth, attract new businesses to the area, and to our universities." Martin has also worked tirelessly on securing federal funding for the eagerl y anticipated Charlotte Research Institute at the University of North Carolina at Charlotte. The Institute's focus on applied science and three economic powerhouses for North

greater charl otte biz

Carolina: Precision Metrology, Optoelec-orics and eBusiness, obviously fit some of Lre same parameters for success that Martin S'l.W in the Center fo r Biotechnology ·Nhile Marti ns experience, political acumen and ideology have evolved and Expanded, it is clear by his daily routine of c.dvocacy and his responsibil ities at Carolinas HealthCare System, his heart has always been, and remains clearly focused on, the needs of orth Carolinians. Whether representing hospital, patient or oomunity needs to a Washington, D.C.

audience, serving on several vital boards, ad\·ocating and fund raising for health care, education and research institut:ons and a new Levine Children$ Hospital, or donating considerable personal funds to various causes (including a recent donation to Queens University and Davidson College), it becomes evident why Martins name covers street signs, buildings and schools. He has left his influential footprints all over the state of orth Carolina. biz Susanne B. De1tzel Is a Charlotte-based freelance wnte<:

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'27

__ j Global Medical Imaging May Be Changing the World of Health Care

~cept

tha_, by obtaining denc anc sight:y used Jltras:unc eq·_ipment, GMI is at1e .o r~condirion tl-c ~sterns at the:.r Charlotte headq_..1mer= nd S€.ll tl-_e-n to cl.c-c_oJO.,

it down and talk Wlth Scott Ray and Rpm lAeD.St

ho=pitals and clinics aa: n\Ji.de

about their business, Global Medical liTE.gir_g

le~

mmufa:Llrers (:IB.-ts)

(GMI), and you will inevitably hear aboJt 6n

than the origina~

~cuipne::-tt

t~ -f(l

13y saving healthcare: prcvder> such

per:::ent

a::-ge s_m ::i

mission - to help change the health car= sy-t:m

mmey, and by havins a speci:t~ized inven..ocy t=nach

in America. Before you roll your eyes aa:l s:cd at

every budget, GMltrul) can have a pos:ti.re e

orO::

their lofty goal, realize that these are educated pa.;so.:n-

im:Jact on the state ::i. ~alnC3.re h th:s c.o~nt:-y Aoo

ate businessmen. And, believe it or not, they l::;r;e a

tluc--r is exactly what t:1f.J inl':rd t:> co.

very legitimate plan. GMI is the two and a half year-old brainchid of ~y

When Ray workeu lor a. he ec.lized _he inc..:.st--:. he had come to kno«" S:· wt1l ,vas :>eco

ng le...<s :ilia.:t

After spending more than a decade in the bus_-es ~f

thE. people and more al::u)Ul :112 prcfits.

selling ultrasound equipment for General Elec::ric, ··-en

the company bought o-• rruny srmUer L-trasouC. na;_n-

I--~

v.-atch:d 2S

working in a similar pos:tion for another large: co-n-

uf;.cturers right beforz :ierrer.-5 ani Phil--pos did r- e s::..Llc

parry, he realized there was an obvious need kr q..1:l.il.y

tl-.:ng. Although con.."<liiatbr wa= Let t.L•:amD-:n h

ultrasound systems at a more competitive pri•:::e "VLh

cxporate America, Fa~ hac l:::econE. inc~si...<gl}

that in mind, he crafted his business to be exo..:·l:, ....-bat

u:- comfonable with

He J£aLized L<a: tb: les= p:rsc•na

his customers need in this day and age of overvt!-e • --

t:re OEMs were gettn§ , the: g-eare- ·he r~~c. ~for t=eJ--

ingly expensive medical costs.

s:>:-talized service. TlEL :s w<et:e Gvfl co-res in.

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jece-nbe- 2CC4

'That!; the opportunity that!; been created for us," Ray explains of the need for his business. 'To fill in that vacuum they've created and be more responsive, faster, more cost competitive. Ultimately, to just provide a higher level of customer support and service that isn't currently in this industry" This includes stocking systems from all manufacturers in their warehouse, allowing them the ability to ship out a product as early as the day after itS ordered, and being able to recommenC. the best system for a customers needs no matter which manufacturer made it. While GM!s business is still in the early stages, it is clear that they are on to some-

"That's the opportunity that's been created for us. To fill in that vacuum they've created and be more responsive, faster, more cost competitive. Ultimately, to just provide a higher level of customer support and service that isn't currently in this industry.,.

thing. Take a look at the revenues alone:

-Scott Ray

they've doubled every year since its incep-

combined with an extensive netv."Câ&#x20AC;˘rk of third pany technicians, that provides wc.rranty and service contract support for e\'ery -ystem that GMI sells throughout the country This service department is ker to how this business operating successfuly and profitably Ray says it boils dowr. :o the fact that the public has essentially been misled by the OEMs. "Depending on the application the fact that the machine has been used rruy be irrelevant," he explains. "If its the same exact feature set and revision level as a brand new system , there!; really no difference ~xcept the bgh cost of brand new equipment." Outdated machines fall into the same category For obvious business acd tccl-..nologtcal

tion. Partner Ryan Dienst, who focuses on managing the business while Ray focuses on sales, talks numbers. GMI did about $2.4 :nillion in revenue in 2002, which increased

A Team Effort

That is a lot of revenue for what see:ns to be, in essence, a few big cameras.

to $4.5 million in 2003, and he estimates

Ultrasounds are pretty standard equip-

that this year they v.ill do over $8 million in

ment and even if you haven't graduateC.

revenue. He also mentions the 2005 goal for

from med school, you probably know

the company is to do over $15 million, dou-

what they do. However, the inner work-

bling the business yet again .

ings of these machines are fairly complex and best left to the experts. Both Ray ar_d

No Surprises!

Dienst stress that while they specialize in obtaining pre-owned or leased equipment, they are not in the market to simply sell used machines. This becomes obvious while walking through the wareh ouse of

.---. . .. .................. . .

United Mailing Service, Inc.

the Griffith Road business wh ere technicians with years of experience rebuild and reconfigure complex machinery to like-new condition. GMis in-house technicians also refurbish (repaint and

Use the professionals at United Mailing Service for your next Direct Mall project!

re-package) the systems so they appear brand new when they are delivered to their customers. Ray and Dienst proudly speak of a fairly recent addition to the GMI team- their field service organization. Led by Doug Brown and his 30 years of ultrasound

www.unitedmailingservice.com

service experience with different

704-392-2805

OEMs, GMI has also added three more field service engineers with a

"Celebrating 20 years!" 30

december 2004

combined 45 years of field ultrasound eJq:erience. It is this field service organization,

The Acuson Sequoia is the flags hip radiology ultrasound system.

.,...,ww.greatercharlotteb z . com

purposes, manufacturers are always re-inventing or upgrading the1r systems. However, Ray points out that the actual life span of an ultrasound system is "indefinite." "Manufacturers will typically end the life of a product after lO years, or two years after they've made the last one," according to Ray This renders the product obsolete. He adds that the systems become obsolete because manufactures choose not to senice them, not because they are beyond servicing. Enter, once agam, GML. "We have a very well managed parts inventory and superior service levels to maintain our products," explams Ray "We also manage how many service contracts we have and on what, so we maintain the light stock level of pans." Ha\ing access to a wide range of older, yet still reliable products is another way Americas health care system will benefit from this company They have the inventory to sell ultrasound machines to a facility on any budget for any need. "We carry the market leaders, but we need to have a product for all price points," says Ray of why the company works so well. "So if

"Everyone doesn't need a statt-of-the-art system. The public health clinic that's doingfree scanning for the county doesn't neec a $100,000 ultrasound system They need a Vel')' good, very reliable black and white system that does basic scanning. We have the ability to match up their economic and ciiagnostic needs with a product that fits both. " - Ryan Dienst you have $100,000 to spend, we have a great brand new system If you only l:ave $10,000 to spend, l::ut you ::-tave the same needs, we can go bad: in generations. This allows a cus-

to mer to find a system to meet their diagnostic needs at a less e>.']Jensive price." "Everyone doesn't need a state-of-the-an system," Dienst adds. 'The public health clinic thats doing free scanning for the county doesn't need a $100,000 ultrasound system. They need a very good, very reliable black and whue system that does basic scanning. We have the ability to match up thw economic and diagnostic needs with a product that fits both." Only the Best

With these added areas of concentration, its a safe bet that GMls salespeople are an absolutely amazing team. "Our people need to know everybodys A and B product," Ray emphasizes. He points out that sales representatives for the OEMs only have to know their own high-end and low-end products. He continues, "Our sales people have to know each manufacturers A and B products and they also have to know everybodys A and B product from the last generation and the generation before that." He goes on to e>qJlain that their company works by having 20 or 30 systems ~

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which are their "ore products'' This allows that personalizatic•n of the purchase, at the same time allowing the company to sell to every budget. Say,. Ray emphatically, "That is challenging Can you imagine the breadth of their knowledge?" Knowledge is c rtainly a large part of it, especially since there is more to ultrasounds than the standard pregnancy uses at the ob/gyn (albeit a la15e part of it) GMI also markets their procL!ct to cardiologists, urologists and radiologi::ts who often put ultrasound machires to work in their practices and in studies And while you may consider the family cardiologist to be an expert, but not necssarily a good businessman, he can make 3ound decisions with a refurbished GMI. Ray explains th t their company helps the often outrageously pricey "business" of health care make sense. Because the doctors or hospitals arc reimbursed a flat rate for their services, regardless of the price ::Jf their equipment it seems only natural ~hat the same doctcors would purchase a 3ame-as-new mach_ne for a fraction of the :JEM's price.

In addition to saving healthcare providers money, GMI stands behind their product. Unlike other used machines, their refurbished units come with a minimum one-year warranty as well as the option of an extended service contract. "Thats the big difference," Ray boasts. "Our competition will sell the unit as-is or give you a 30-day warranty if they have to. We are completely the other way from a buyers usual experience." Lofty and Impressive Goals

For Ray and Dienst, they are just as concerned about satisfying their customers as about profits. However, they also take satisfaction in doing their part for the medical system in America. These two are constantly setting goals and are proud to say their business is simply the best when it comes to selling, servicing and refurbishing ultrasound machines. In fact, one of their future goals is to expand their already extensive service department. After being in the industry for so many years, Ray knows what the competition is doing, and he takes pride in having put together an unmatched operation that far surpasses the impersonality of the OEMs and the shoddy follow-through of the stereotypical used equipment sales firms.

625 Griffith Road, Ste. 100 Charlotte, N.C. 28217

Phone: 704-940-7755 or 800-958-9986 Principals: R. Scott Ray and Ryan B. Dienst, Managing Partners Employees: 19 In Business: Since April of 2002 Business: Specializes in reconditioned ultrasound systems for cardiology/vascular, ob/gyn, radiology, internal medicine and 3D/4D general imaging needs; extensive field service organization providing applications training for users. www.globalmedimage.com

The GE Voluson 730 Expert is a the-art 4D ultrasound unit.

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Amazingly, while Ray, Dienst nd tocir employees may be benefiting frorr_tie x•Jming business, it appears that the imphc =.ti : n~. are much broader- that everyone in tL~ country is better off as well. Dienst explains it best, "In the ovedl ~ltb. care environment where costs keep r:.si:l~ reimbursements are falling, and in..c;urncc ccs~ are going through the roof, we have :1 ....a: ro~ doctors, hospitals or clinics to have P-\TilJeproducing equipment at a lower price." E~ adds, "Its the same quality, which te~p:; inpov::: the overall economics of health care in &er:.er;~.l," and sums up, "So thats, in essence, ou: irrpa::t on the healthcare industry in general " And at a time when many peo]ie ht:3~t;~.te to trust even their doctor, its safe tc 5.1y Global Medical Imaging is helping to rene"" confidence in our ability to service tht demands of Americas healthcare 3) 3U:rr_ biz Lindsay LeCorchtck is a Charlotte-based (reel:.nc=

decembe r 2004

V~rit=~

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Direct e nro ll me nt is avai lable through th e Program Administrator, College Foundation , Tnc. If you desire investment guidance or do not qualify for Direct enrollment, contact your financi al advisor about Ad isor-sold e nrollme nt. For Direct enro ll me nt, call 800-600-34 53 or down load and complete an enrollm ent agreement on line at www.CFNC.org/Savings. Advisor-so ld enrollment in formation is available at www.seligman529.com or by contacting your fi nancial advisor.

Na~t;;';~rC~llege !?Savings Program

©College Foundation, Inc. 2004

* 529 plans have significant tax issues and may not be appropriate for all investors. Certain tax benefits are effective through 2010 unless extended or amended by Congress. Non-Qualified Withdrawals are subject to a $50 fee, and earnings may be subject to a 10% federal tax penalty, a state tax penalty, and ordinary income taxes . Please see the Program Description for details on the tax consequences of Withdrawals other than Qualified Withdrawals. In addition, federal tax law restricts a Participant's ability to move money to other investment options. This information is not tax or investment advice; consult your tax advisor. Participants who reside in states other than North Carolina should consult with th eir tax advisors regarding any state tax consequences for participation in this Program. Investment options in either type of enrollment are similar in design, but vary in structure and investment managers. Accounts established through Direct enrollment have lower fees and expenses than those established through Advisor-sold enrollment. An offer of interest in the North Carolina College Savings and Investment Program may only be made by an official Program Description , which contains complete information about fees, expenses and risks. Individuals should read the Program Description carefully before investing.

im Stikeleather and Thomas Schiffers have made it their business to find solutions. Right now, that means finding the best way to help their mid-sized and large business clients manage and store the enormous and increasing quantities of data they depend on. Financial institutions, universities, government agencies, and many other small and large businesses rely on an ever-changing, ever-growing stream of data. Where traditionally the data has been stored in individual servers and backed up for protection on a regular basis, Stikeleather and Schiffers' company, SANDirect, provides a time and money-saving solution that in recent years has become the norm. By combining high-capacity storage devices with a Storage Area Network (SAN), companies can make all their data available to all of their servers, free up network capacity for business applications, and store enormous amounts of data much more efficiently and reliably than by the old method. Although the SA is mainstream for larger businesses today, when Stikeleather and Schiffers entered the business in 2001 it was only beginning to take off. The two have always had an eye for the future and predicted that the business demand for data storage would increase astronomically in coming years. Additionally, the market was newly opening to resellers, there was little competition, and the profit margins were respectable. In fact, the business need for data storage has increased so dramatically that so far in 2004 SANDirect has doubled its business and expects to do the same in 2005 . Stikeleather attributes the skyrocketing

"EM7" stands for "Extended Management x7."The 7 stands for the seven design components:

1. 2. 3. 4. 5. 6. 7.

Design flexibility Environmentally dynamic Application accessibility Operational manageability Administrative manageability Security enabled Standards-based

RIM comprises eight components:

1. Application management 2. Asset management 3. Enterprise management 4. Event management 5. Network management 6. Relationship management 7. Security management 8. Workflow management

g r ea t e r c h a rl otte b iz

demand for data storage to a number of factors. First is simply the massive amount of data a company produces, a number that grows as the company grows and also as new regulations and current events dictate. For instance, companies are now required by law to maintain records of all documents for a minimum of seven years. And e-mail is now considered a document. As Schiffers illustrates, that alone translates to limitless quantities of data to be stored: "If you've got ten thousand employees and you send one e-mail to all of them, you now have ten thousand documents that must be stored individually" In addition, the 2001 terrorist attacks and heightened security concerns have led many companies to place a higher value on data security- meaning they need a safe place to store their data, and it has to be convenient and manageable. Meanwhile, the SAN industry is beginning to release products that allow even smaller businesses to take advantage of the efficiencies of a SAN. The typical network storage device is the size of a large cabinet, packed with drives, twinkling with lights, and bristling with cables and connectors. Oh, and slapped with a price tag manageable only to the very large business! Recently, however, many manufacturers have come out with versions of such a product that are barely larger than (and similar in appearance to) a standard desktop CPU, and for which the price tag is within reach of the mid-sized business. The new units are less powerful and versatile than their larger counterparts, but they provide plenty of functionality for most businesses, and at a fraction of the cost. )>-

decembe r 2004

So Stikeleather and Schiffers are riding both waves - the wave of large businesses ever expanding their data storage needs and the new wave of smaller businesses meeting their needs with the new SAN units. The SANford Empire

Although SANDirect has existed in its present incarnation only two and a half years, Stikeleather and Schiffers have been in business together since 1994. At that time they became interested in large quantities of used IT equipment that was being bought and sold at rock bottom prices. With technology moving forward and changing at the speed of light, companies are constantly upgrading. Schiffers and Stikeleather saw that many companies were looking for someone to clear out their old equipment for them, while other companies, especially overseas concerns, were looking to buy used equipment. So, as Terri Grauer (more on her later) quips, they became "a high-tech Sanford and Son," buying used IT equipment by the truckload and shipping it all over the world. They rented a 30,000-square-foot space on South Tryon ("a huge old dirty dusty warehouse," says Stikeleather) and moved several tractor-trailer loads of computer paraphernalia each week. As they progressed in the business, they became interested in SANs and began to research and pursue the idea of becoming a reseller. Schiffers recalls observing in regard to a single SAN that "there's more value in this one little box than in that whole tractortrailer" of used computer equipment. Convinced of the growing demand for storage solutions, Schiffers and Stikeleather did their homework and decided to become resellers of EMC (a SAN manufacturer) SANs, along with the accompanying equipment and software. They became one the first EMC resellers in this area and remain one of only a few companies that specialize in data storage solutions. They now work out of a 9,000-squarefoot finished air-conditioned office space selling equipment from several manufacturers, and the value they add is their commitment to work out solutions based on the clients needs. "We always start from the core," says Schiffers. "What is it that you're trying to do, what is it that you're trying to achieve, and we build out from there."

december 2)04-

True Grit

Although Schiffers and Stikeleather were right in predicting the demand for their product, their new venture debuted in the very unfortunate aftermath of 9-11 . As a result, the company's greatest challenge, they say, has been the faltering economy Another challenge is the pre-purchase sticker shock for potential clients. The technology has been on the market only a few years, and many companies looking to invest in it underestimate the initial cost. They may, for instance, budget for the cost of the SAN , but not for the critical software, accompanying hardware, maintenance, installation and other indirect costs. As a result, says Schiffers, SANDirect sometimes has to help clients prioritize and install less than they had hoped for but enough to get them started. "We at least get them started with production or mission-critical applications," says Schiffers, "and then build upon that foundation. " "Once established," says Stikeleather, "the SAN is easily managed and it can grow very easily" And once established, SANDirect's relationship with that customer also can grow very easily The result: quick and steady growth for SANDirect; proof that SA Directs owners have the grit necessary to make it despite the challenges. Life, the Universe, and Everything

The search for solutions, both for their own business and for their clients, and the resulting evolution, is not over. The next big thing for SANDirect is a brand new, ground-

A division of Providence Technologies, Inc. 31 0 I Yorkmont Rd., Ste. 1200 Charlotte, N.C. 28208 Phone: 704-423-5765 or 866-463-3372 Principals: James C. Stikeleather, Cofounder, President and CEO;Thomas H. Schiffers, Co-founder and Vice President Employees: 10+ (currently hiring) In Business: I0 years Business: Provides data storage and management infrastructure solutions. www.sandirect.com

www.greate rc h arl otte biz. com

breaking product that they helped develop and for which they are master resellers. This is the solution that will reveal the truth (but not about life or the universe- sorry!). This new solution, publicly announced in October, has drawn enormous interest and excitement from clients and others. In fact, it is the reason Terri Grauer is with the company "I came from a large corporation," says Grauer, likening her former employer to companies such as IBM and HP "So they brought me in here and had me take a look at this product, and I said ' ... Okay"' to leaving her secure corporate job and taking on the business development for this new technology Schiffers says that the biggest barrier to selling this product is disbelief from potential clients who think its too good to be true. "People walk away from the demos saying, 'How can this be real?"' While SANDirect employees and others in the business of storage infrastructure might "get it" right away with jaw-dropping amazement, for most of us, understanding the importance of the new technology requires a little background. Recently, a high level government agency with whom SANDirect was scheduled to meet had to postpone the discussion because their data systems were down. Someone had unplugged one piece of equipment and plugged it in somewhere else. It took them five days to find the problem and fix it. Large entities like the government agency in question, with hundreds of servers and networks spanning the nation or the globe, have a difficult time keeping track of all their data and equipment- what is out there, what it is doing, and where there are problems. Software developed to monitor one set of equipment may not be compatible with software developed to monitor others, and getting reliable information is complicated. A company may hire dozens of people to monitor the equipment, troubleshoot, interface with end users, and fix problems- and still data and equipment and problems slip through the cracks and cause loss of time, loss of revenue, loss of productivity This new solution completely changes all that. "It is basically an appliance" says Grauer. "EM7 comes installed on a server. You plug it in, it goes out and discovers everything in the IT environment, and in

greater charlotte biz

about two hours you have comprehensive and useful data." The appliance is called EM7 and is produced by a company called Science Logic. It is the first iteration in what its creators call Relational Infrastructure Management, or RlM. As defined by Science Logic, "RlM is a process of integrating disparate infrastructure and application management systems with business processes, via a shared interface and common data repository RlM products simplify compliance and corporate governance activities, improve data consistency, and increase user efficiency" In a nutshell, RIM means that no matter how many servers you have, no matter how big your SAN, and no matter how complicated your technology infrastructure, if someone unplugs a device and plugs it back in the wrong place, you will be notified and can rectify the problem almost instantly It also means you can know anything you need to know about your infrastructure or the status of your data the moment it occurs to you to ask. And it means you can do it without the dozens of dedicated employees usually assigned this task.

David Link, Richard Chart, and Christopher Cordray are the humble names behind the revolutionary product. They created the product from the ground up as an answer to the problem they experienced firsthand in their work for some of the leading technology companies. Where existing solutions were all partial, fragmented, and manufacturer-specific, these three visionaries built a solution that would be comprehensive, complete, and able to work seamlessly with all hardware and software to create a completely integrated and friendly experience for users and administrators alike. Stikeleather and Schiffers believe RlM will become a mainstream concept, and that EM? will be the industry standard. The truth is, no one really knows what will happen in technology in the future. But with EM?, you can know what is happening in your technology infrastructure right now. The new RlM technology can be, in Grauer$ words, your "one source for the truth" about everything in your network. biz Heather Head is a Charlotte-based freelance writer.

december 2004

RYSTLE STEPHENS WORKS FULL TIME AND SPENDS EIGHT HOURS A WEEK TAKING CLASSES TOWARD A MASTER OF BUSINESS ADMINISTRATION DEGREE. She meets her two classes online, four hours each, on two different nights. Clearly, she's a nontraditional college student. Also evident is that she's a perfect fit for Strayer University. She's enrolled in the school's south Charlotte campus in Whitehall, in a business park near South Tryon Street and I-485. "I need the flexibility because I travel a lot in my work," says Stephens, the regional information referral specialist for the Catawba Area Agency on Aging. Based in Rock Hill, she travels throughout the South Carolina counties ofYork, Chester, Lancaster and Union. "I can change class nights to fit my schedule," she says.

~ORKING ADULTS Strayer University is the largest operating unit of Arlington, Va.-based Strayer Education, lnc., a for-profit education services corporation. lt offers degrees in business administration, accounting, information technology, education and public administration. The school designs its programs to fit the lives of working adul ts who are pursuing college educations to advance their careers and personal goals. Started in Baltimore in 1892 , the school could be called a late bloomer. First known as Strayer Business College of Baltimore City, it expanded to the Washington , D.C. area in 1904. lL was renamed Strayer College in 1969 when it won the right to award bachelor's degrees. ln 1987, it became authorized to con fer master's degrees. In 1996, Strayer Education, Inc. was organized as a separate holding company to take the school public and raise eA.'j)ansion capital. The District of Columbia granted the school "university" status in 1998. Strayer Education completed a major recapitalizatior. in 2000 and a new management team took

greater charlotte biz

over. And, since then, Strayer has opened campuses in five more states. The team leader is Robert Silberman, chairman and chief executive of Strayer Education and a former assistant secretary of the U.S. Army. He came to Strayer from CalEnergy Co. Inc. where he was president and chief operating officer. Previously, he was chief executive and assistant to the chairman of International Paper Co. From 16 campuses in 2001, Silberman has expanded Strayer to 30 to date. Two new campuses will be opening soon in Tampa, Fl. Strayer operates both a north and a south campus in Charloue, plus two in the RaleighDurham area and one in Greenville, S.C., all opened since 2002. On these campuses, as well as the 25 others from Pennsylvania to Georgia, a total of 23,000 students, mostly working adults such as Stephens, pursue mostly business degrees. Strayer doesn't break down enrollment by individual campus but Silberman says enrollment in Charlotte Lops 500 on each campus "Historically," he says, "campuses like those in

Charloue grow into 1,000 or 1,500 students, picking up 100 to 150 students a year." Education That Makes Sense

Stephens started studies at the south Charlotte campus In spring 2003 and plans to complete her M.B.A. \vith a concentration in marketing by june 2005. Ultimately, she hopes to earn a doctorate. Her goal is to Leach public health with a specialty in gerontology She's been With the Catawba Area Agency on Aging for three years and she's found that her studies are helping her right nov.. 'Tm enhancing my marketmg capabilities," says the restdent ofTega Cay, S.C. 'Tve matured a lot, professionally and personally."

Stephen's sentiments don't surprise Patricia (Pauy) Ardoline, regional director for Strayer University who recently moved to Charlotte from the Triangle area where she helped open a new campus in north Raleigh. Ardoline oversees administration o[ Strayer's five Carolinas schools. "We provide the n.exibi lity that a working adult needs," Ardoline points out as she sits in a classroom at the south Charlotte campus. "Working adults are juggling many different hats. We focus 100 percent on helping them achieve their goals." ln the Carolinas as well as throughout the Straye r University [ootprim, the typical student is 34 years old, with annual income between $20,000 and $80,000. Ardoline says the Charloue pro[ile includes about 55 percent women from various minorities. That ren.ecls the increasing number of minority women who are realizing that as they reenter the workforce they need additional education, Ardoline explains. The Strayer studem population as a whole, she says, is made up largely of people who have been passed over for advancement or have lost a job because they lacked appropriate education. >

d ecember 2004

Ardolines e;es sparkle as she ticks off the advantages Stnyer offers folks such as these. "Strayers bLSiness degrees include an associates, a ba路:helor's and a masters, the latter of which ha~ really taken off in the Carolinas," she 3ays. "People need the degree now and there's no reason to put it off any longer. We have a schedule to accommodate their needs." Strayer opeBtes on a quarter system in which one clas~ lasts 11 weeks. A student taking one clas~ a semester can earn a masters in 12 quarcrs, or three years. For a bachelor's in bu3iness, a student taking two classes per quar:er can earn a diploma in five years. Tuition for an undergraduate class ruffi $1,100; for a gracuate class approaches $1,500. Ardoline say~ Strayer maintains articulation agreements .vith many North Carolina community colleges in which they recognize the validity of cl2ises Strayer students complete and \~ce ve-sa. Like Stephen', about 20 percent of Strayer students 1hroughout its footprint take classes online. Ths allows ultimate Oexibility for when they sit through a class- weekday,

evening, Saturday morning or a combination of all three. Advancing by Degree

Relatively few students take courses during the day; most Strayer campuses including south Charlotte don't get busy until around 4 p.m. when those with jobs start trickling in. Even when the student presence is largest, between 6 p.m. and 10 p.m. on weeknights, classes are smallish. Stephens says her region's classes usually consist of 10 to 12 students, allowing the instructor to take an interest in each person. Many of the 18 instructors on the south Charlotte campus, like those throughout the system, are part-timers who hold other jobs. "They bring practical experience into the classroom," Ardoline says. "Students get a combination of what they learn in the textbooks as well as what is going on out there in the business world and what employers are looking for." Still, even part-time instructors must have masters or doctorate degrees depending on what they're teaching, Ardoline points out. As part of Strayer's support services, the

instructors offer academic counseling, including which classes a student should take and in what sequence. Ardoline enjoys relating stories of students' successes. She likes the one about the Charlotte man who was an "average employee" of a food services company He earned his masters, moved into management and presides over an entire department. Ardoline herself is a Strayer success story With the University for 15 years, she started just after completing her M.B.A. at the Alexandria, Va., campus. A communications graduate of tiny Marywood University in Scranton, Pa., she was in customer service for a sporting goods distributor until deciding to further her education. "l worked my way up through the Strayer business office and through the financial aid department," she says. Ultimately, she was sent to North Carolina to open the first Triangle campus. After being shuffied to PenffiYlvania to help start a campus in Delaware County, she returned to the Carolinas as regional director, arri~ng in Charlotte this year. "1 share my story with students all the time," says Ardoline, who plans her upcom-

r.~ ~ElT

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A~;co

Breakfast Club America is a business development company headquarted in Charlotte , NC. We have worked with hundreds of businesses over the years helping them develop new business and new business relationships . 7 0 4 . 5 5 6

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decembEr 2004

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ing wedding when she's not concentrating on

moving offshore or vanishing in favor of

bachelor's from Strayer," he says. 'We've proven

Strayer. 'The students need to understand

technology and service-based businesses.

we can do that with a high level of quality and

that they are not alone, that they are defi-

These often require new or different skill sets

a certain amount of economic efficiency such

nitely in the majority The people sitting next

and enhanced education.

that we generate a financial return."

to them have shared the same experiences

they have." O nly 25 percent of Americans hold an

"Absolutely, Strayer will grow fast,"

cent of Strayer revenue that comes from

will the demand for degrees."

"institutional alliances." These are agreements

Growing a National Footprint

Strayer for em ployees who attend classes. ln

in which an employer pays tuiti on directl y to

advanced degree Ardoline points out, and those without them are being buffeted by a shifting economy That's particularl y true of the Carolinas, she says, where traditional industries such as textiles and furni ture are

Chairman Silberman pledges five new

Charlotte, these alliances include Bank of

campuses a year for the immediate future.

America, Wachovia and Compass Group.

He visualizes a Strayer University that is national in scope, rather than today's regional version featuring campuses in

Strayer University, Inc. Largest operating ~STRAYER. unit of Strayer ~uNI vERsIr v Education, Inc. (Nasdaq: STRA) South Charlotte Campus: 2430 Whitehall Park Dr., Ste. 700 Charlotte, N.C. 28273 Phone: 704-587-5360 North Charlotte Campus: 8335 IBM Drive, Ste. ISO Charlotte, N.C. 28262 Phone: 704-717-2380 Registration: 1-888-4-STRAYER (888-478-7293) Principals: Robert S. Sil berman, Chai rman and CEO; Patricia (Patty) Ardoline, Regional Director Established: 1892 as Strayer's Business College of Baltimore City; gained university status in 1998; in Charlotte si nce 2002 Accreditation: Middle States Commission on Higher Ed ucatio n Total Enrollment and Campuses: 23,000 students on 30 cam puses in 8 states in the eastern United States (Ga., Md., N.C., Pa., S.C.,Tenn.,Va. and W ash ington, D.C.) and worldwide via the Internet through Strayer University Online Net Income*: $3 3.7 million in 2003 Earnings per share*: $2.27 in 2003 Mission: Strayer's mission is to make higher educatio n achievable and convenient for working adults in today's econo my. Strayer University has been in operation for I 12 years and provides undergraduate and graduate degrees in business administration, acco unting, information technology, education and public administration. *Strayer Educatio n, Inc., an educatio n services holdi ng company headquartered in Arlington,Va. www.strayer.edu

g r e at e r ch ar lo tt e b iz

Silberman would like to grow the 20 per-

Ardoline says. "As job requi rements go up , so

Pennsylvania, Maryland, Virgi ni a,

Silberman's confident of Strayer's future, he ad ds, because the school is filling a void . "We operate campuses in Philadelphia, the District of Columbia, Raleigh, Charlotte

Tennessee, North Carolina, South Carolina,

and Atlanta, which happen to be the m ost

Geo rgia and - soon- Florida, as well as the

education-intensive places in the country,

Distri ct of Columbia.

with the exception of Boston," Silberman

"1 came to the company in 2000," Silbennan says. "I told our investor base l

says. "The d ifference is that there are very few

thought we could be a nationwide university

adults like Strayer."

institutions that really focus on wo rking

It was a deliberate decision on our part to

'The truth is," he says, "most places in the

add and expand our footprint outside the

Uni ted States have a real need for accred ited ,

District of Columbia area."

bachelor and master degree education for

As campuses have opened in rapid succession , Strayer's total enrollment has jumped to 23,000 this year, up fro m nearly 13,000 in 2000. Silbern1an seeks more growth. He hopes to follow the footsteps of the University of Phoenix, the nation's largest private university With m ore than 140 campuses and learning centers in the United States, Puerto Rico and Canada, it also specializes in educating working adults. It boasts a 200,000 student enrollment and net income in 2003 of $2 4 7 million . For-profi t competitor DeVry, Inc. operates 23 campuses and tu rned a $58.1 million net income for 2003. It concentrates on traditional age students who are attracted to technology-related cou rses. Li ke the University of Phoenix, DeVry maintains a campus in Charlotte. While Strayer's net income for 2003 was $33.7 million, that n umber has grown steadil y from $2 1. 7 million on 2000. Earnings per share have fo llowed a similar curve, increasing to $2.27 for 2003, up from $1.41 in 2000. Sil berman doesn't project financial goals. "If we can successfully serve more students," he says, "the revenue will take care of itself. " He brags about the "ton of value" Strayer delivers. "Our students basically double their earnings power when they graduate with a

working adults."

biz

Ellison Gary IS a Charlotte-based f(ee/once wnter.

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d ece mbe r 2004

- - - - - - - - - - - - - - - - - - - - - - - - - - -------

Motorsports Adds $5 Billion to North Carolina Economy Excerpts from The Economic Impacts of the Mot01·sports Industry study authored by Dr. John Connaughton, Dr. Ronald A. Madsen, Dr. John M. Gandar, and Joseph D. Arthur of the University of North Carolina at Charlotte

The North Carolina Motorsports Economic Impact and Development Study, a two-part economic impact study of the motorsports industry in North Carolina, was recently released. Working with a team from UNC Charlotte led by TIAA-CREF Professor of Economics john Connaughton, the study revealed that the motorsports industry contributes over $5 billion annually to North Carolina's economy. A companion study facilitated by the Sanford Holshouser Business Development Group recommended a number of strategies for retaining and growing the motorsports industly in North Carolina. Following is a summary of some of the study's findings.

Highlights

• The total economic impact of the motorsports industry on the North Carolina economy in 2003 was just over $5 billion. •In North Carolina, the total direct spending by motorsports-related firms was almost $3.2 billion . • The motorsports industry generated a total of 24,406 North Carolina jobs in 2003. • Direct employment in the North Carolina motorsports industry in 2003 consisted of 12,292 jobs. • The overall average annual compensation per employee for all 24,406 direct. indirect and induced jobs was $61 ,017 per year. • The average compensation per employee for direct motorsports generated jobs was $70.548 annually. This average compensation is in the top 3.6 percent of all jobs in the state. • The motorsports industry contributed just under $1.5 billion in total employee compensation to the North Carolina economy. • The direct value added impact of the North Carolina motors ports industry in 2003 was $1.4 billion. The total value added impact was just under $2.5 billion. • Motorsports is not classified as a separate industry by the North American Industrial Classification System (NAICS), the system by which most industry-related statistical data is collected. If such a classification existed, motorsports would rank as the 30th largest industry in the state.

sports industry on the North Carolina

The North Carolina Motorsports Economic Impact and Development Study also found that

Commerce. While the Carolinas Partnership

economy in 2003 was $5.1 billion, according

in 2003 , the motorspons industry generated

region receives the most benefit from the

to an economic impact and development

24,406 jobs in North Carolina, including

motorsports industry, the other six regions

study sponso red by the North Carolina

12,292 jobs generated th rough direct

have significant presence of motorsports-

Motorspons Association, and is 30th largest

employment. Average compensation per

related businesses within their boundaries.

The total economic impact of the motor-

designated by the

.C. Department of

of 481 industries ranked by the state. The 12

employee for the 24,406 jobs was $61,017.

N.C. counties in the Charlotte region receive

Average compensation per employee for

molorsports' importance as an economic

an estimated $3.9 billion per yea r from the

direct motorsports employment was $70 ,548. Moto rspo n s contributed

the industry in terms of economic output and

motorsports industry, accounting for 77 percent of the economic boost, and gain an estimated 17,720 jobs or 73 percent of the employment boost. "Charlotte USA is clea rly the hub of motorspons here in North Carolina and nationwide," says Kenny McDonald , vice president of economi development for the

$1,489,175 ,042 in total employee compensation to the North Carolina economy The previous figures reflect total spending

The study was performed to recognize force, to establish the relative importance of employment and to suggest effective strategies to retain and grow the industry in the state. "Those of us who are from North

generated by the motorsports industry measured by the final selling prices of goods and

Carolina always knew motorsports was a big deal in this state," according LO racing legend

services. The direct value added impact of

and NCMA Chairman Richard Petty 'This study will show the rest of the country

Charlotte Regional Partnership "We agree

the industry, or the industrys impact on the Gross State Product (related nationally to the

wholeheartedly with the overarching conclu-

Gross Domestic Product) is $1,426,829,620,

sion of the impact study, which is that

with a total value added impact of

major industries as textiles and tobacco, its

regionally and statewide we need to work

$2,496,911,84l.The total value added impact

good for North Carolinians to know that we

hard to protect and grow this critical sector

represents one percent

of the North Carolina economy" McDonald points up, "Many other

of the states GSP The study analyzed

regions and many other states wou ld like to

motorsports' impact on

grow their share of the motorsports industry,

the state of North

too. That's why it is critical for the Charlotte

Carolina as a whole, then analyzed its

region to present a united front as we act to preserve the racing-related jobs we already

impact on each of the

have and generate additional economic acti vity in this industry "

seven economic devel-

december 2 004

opment areas

exactly how much an impact the industry has on this state. With the state losing such

Percent of Total Output Impact and Total Employment Impact by Region Percent of Planning Region State Outgut Advantage West 2.86% Carolinas Partnership 76.69% Piedmont Triad Partnership 11.49% Research Triangle Reg ional Partnership 1.33% North Carolina's Southeast 4.67% North Carolina's Eastern Region 1.67% North Carolina's Northeast Partnership 1.29%

Percent of State Emglovment 4.03% 72.61% 15.06% 2.23% 2.17% 2. 18% 1.73%

www.greate rc h arl otte biz. com

still have a major home-grown industry to

motors ports grows and remains a force in

ice side of the industry Dr. Connaughton, Dr.

keep our economy going."

North Carolina.

Ronald A. Madsen, Dr. john M. Gandar and

Two segments comprise the study Dr.

Although North Carolina includes a vast

john Connaughton, TIAA-CREF Professor of

array of motorsports, NASCAR is the most

Economics at the University of North

recognized.

Carolina at Charlone, conducted the first

the greatest impact on the

part of the sLUdy, which analyzes the overall

motorsports industry, contributing

ASCAR teams a counted for orth Carolina

joseph D. Arthur ofUNCC used extensive surveys and databases to conduct their research of motorsports-related industries. Sanford Holshousers segment of the study, Motorsports: A North Carolina Growth

economic impact of the motorsports industry

$2,054,568,730 to the state economy,

Industry Under Threat, includes recommenda-

including a direct impact of $1,264,329,872.

tions involving overall industry promotion,

orth Carolina. The Sanford Holshouser

Business Development Group conducted the

The sector was responsible for 40.1 percent

recruitment, travel and tourism, credits,

second part of the study, which addresses

of the industrys total impact on the stale.

grants and incentives and technology and

economic development strategies and recom-

The second largest industry sector was sup-

education. Sanford Holshouser officials con-

mendations to promote and expand the

pliers, which contributed $854,4 78,461 in

ducted focus group meetings among

motorsports industry.

total impact ($530,762,278 in direct impact).

motorspons officials, local economic devel-

Suppliers provide 16.7 percent of the indus-

opers, travel and tourism officials, university and community college representatives, phil-

"It has always been part of the NCMAS goal to sponsor such an economic impact

trys impact on

study," according to NCMA executive direc-

major tracks (13.7 percent), retail (10.1 per-

tor Ed Mclean. "The results are astounding.

cent) and marketing (6.3 percent).

Those involved in the states motorspons industry should certainly be proud. What we have here is great, but now it's time to con-

orth Carolina, followed by

Dr. Connaughtons study, The Economic

Impacts of the Motorsports Industry on the North Carolina Economy, measures all aspects of

anthropic organizations, corporate sponsors, motorsports events organizers and N.C. Department of Commerce officials. Among the finns recommendations are industry support on the state government

tinue to move forward as an industry and

motorsports, from the visible entertainment

level, a North Carolina motorspons presence

continue to make great strides in ensuring

side as well as the vendor, supplier and serv-

at national trade and tourism shows, )-

greater charlotte biz

december 2004

North Carolina boasts an "industry clus-

increased tourism efforts focusing on motor-

NASCAR teams. Despite its prominence in

sports and expanded motorspon s training

the Tar Heel State, NASCAR and stock car

ter" of motorspon s-related businesses largely

programs within the state's community col-

racing are not the only forms of motorsports

attributed to its motorsports history and the

lege and university system .

found within the state's boundaries. North

ove rall growth of the motorsports industry.

Carolina is also home to drag racing, kartin g,

This cluster was also developed by the spe-

motorspon s, being recognized as the birth-

No rth Carolina has a long traditi on in

motocross, truck racing, powerboat racing

cialized labor, sup ply chain and motorspon s

p lace of NASCAR and home to most

and other forms of motorsports.

facilities grouped in a single area. The Golden Long-Tenn Economic

Recommendations

Overall industry promotion: •It is recommended that the Governor establish a N.C. Motors ports Task Force to serve as an advisory body to the Governor an~ General Assembly. • A motors ports position on the N.C. Economic Development Board should be established. • The N.C. Department of Commerce should establish a position for an economic developer who is a motorsports specialist. Recruitment: • A trade show pavilion display should be purchased for promoting motorsports in multiple venues. • The NCMA should .vork to identify motorsports suppliers which are recruitment prospects for an expansion or relocation to this state and these firms should be targeted for recruitment by the N.C. Department of Commerce. • The N.C. Department of Commerce should target and recruit racing sanctioning organizations to North Carolina. • State, regional and local development entities should cooperate with private sector partners to recruit the International Motorsports Hall of Fame (currently in Talledega, Ala.) or develop an alternative facility which has the capacity of becoming known as the Motorsports Hall of Fame. • N.C . motorsports vendors/suppliers should have exposure of their products to other markets by the N.C. Department of Commerce having exhibit space at two international trade shows and two domestic trade shows per year. Travel and Tourism: • The Travel and Tourism Division of the N.C. Department of Commerce should prepare and distribute a comprehensive motorsports tourism guide. • The Travel and Tou rism Division of the N.C. Department of Commerce should develop a logo and slogan to be branded over time as synonymous with North Carolina motors ports. • Each welcome cent~r in the state should have a kiosk where promotional materials on motorsports tourism opportunities are a\'ailable. • The General Assembly should make appropriations or allow for grants to help maintain the motors ports museums in the state. • The General Assembly should appropriate $1 million annually to a grant fund to support events ancillary to the All Star NASCAR Race at Lowe's Motor Speedway, and other funds to provide sanctioning fees or promotional costs far racing events which are new to North Carolina. Credits, Grants and Incentives: • A corporate or franchise tax credit should be allowed for companies having corporate or divisional headquarters in the state that become new sponsors of N.C. race teams. The tax credit should equal 25 percent of the sponsorship amourt. • An exemption from sales and use taxes should be enacted on any parts or components that go into the assembly of vehicles, motorcycles, or boats utilized in motorsports racing events, if the company assembling the vehicle, motorcycle or motorboat is located in North Carolina. • Venues and race team facilities that require road improvements to either locate a new facility or expand an existing facility should receive grants from the N.C. Department of Transportation to pay for all or part of the state road improvement costs. • Any state incentive or tax credit which by its terms applies to other types of com panies, but not race team facilities , should be 3mended to extend those incentives to race team facilities. • Race teams should b3 exempted from state tax on aircraft fuel and property taxes on aircraft owned by racing teams. Technology and Education: • The state should invest in motorsports technology, housed within the University of North Carolina system. Technology assets should be available at reasonable fees for private sector use. • The state should expand motorsports and automotive training programs in the community colleges. Top quality equipment trat will be used in the work place should be provided to these community college programs either by appropriations from the General Assembly or private sector partnering.

december 2004

Advancement Fou ndati on (LEAF) Found ation , the North Carolina Rural Economic Development Center and the North Carolina Motorspon s Foundation all provided fu nding for the study. The UNC Charlotte Urban Institute coordin ated the project. biz

The full text of The Economic Impacts of the Motorsports Industry on the North Carolina Economy, as well as Motorsports:A North Carolina Growth Industry Under Threat by

the Sanford Holshouser Business Development Group, can be found at www.ui.uncc.edu.

bizresource guide Toke advantage o{ these products and serv1ces (rom Charlotte's leodmg busmess-to-bus1ness suppliers. ABC Cleaning ATCOM Breakfast Club America Business Success Institute Carol ina Foot Associates Caro li na Audi Carolina HealthCare Charlotte Copy Data Charlotte HelpDesk Charlotte Steeplechase Association Choice Translating Com pass Career CPCC Corp Trai ning Daniel Ratliff Dilworth Hair Center Employers Association Fi rst Citizens Bank 5 Off 5 On Knauff Insurance Liquid Design MacThrift Office Furn itu re Mecklenburg County Recycling National College Savings Nouveon PR Store Regent Park Scholz & Associates Scott Insurance Scott Jaguar Tathwell Printi ng TimeWarner Business United Mailing Service UNCC Be lk Continuing Edu cation UNCC Belk MBA Program Wishart Norris

pg. 12 pg. 10 pg. 40 pg. 26 pg. 41 BC pg. 5 pg. 9 pg. 13 IBC pg. 11 pg. 27 pg. 25 pg. 24 pg 27 pg. 8, 26 pg. 1 pg. 32 pg. 11 pg. 37 pg. 20 pg. 12 pg. 33 pg. 10 pg. 18 pg. 19 pg. 8 pg. 3 pg 21 pg. 43 IFC pg 30 pg. 36 pg. 31 pg. 13

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