August Denton Business Chronicle 2017

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August 2017

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Health kick

Business booms for vegan products, restaurants By Jenna Duncan

Nacho cheese made from cashews. Yogurt made from coconut. Burger patties made from soy proteins. These types of meat and dairy alternatives are gaining popularity across Denton as more Americans transition to a vegan diet, a style of eating in which people don’t consume any animal byproducts, from meat to dairy to honey. Mean Greens, the first all-vegan dining hall in the country, opened at the University of North Texas in 2011, and the movement has continued to grow. More restaurants are offering vegan options, grocery options without meat and dairy have exploded and now Denton’s first all-vegan restaurant, Spiral Diner, is set to open this month. For Tesa Morin, a Denton resident who has been vegan since 2010, things have gotten easier and more visible, and she thinks the diet will keep trending upward. She started a website chronicling vegan options in 2011 after realizing it was hard to figure out what people could eat where, and has gained hundreds of Instagram followers for posting where she can eat out that includes vegan options. “I think it’s a lot easier nowadays than it was back then, and of course things come and go — I’ve had to VEGAN | CONTINUED ON PAGE 7

Photos by Jake King/DRC

TOP RIGHT: Loni Puckett, co-owner of Juice Lab, mashes avocado on toast to fill a customer’s order at the organic juice bar at 508 S. Elm St. in Denton. ABOVE: Puckett purees fruits and vegetables to make a large order of juice at Juice Lab. The business serves more than 50 juices made from fruits and vegetables, as well as a variety of raw and vegan foods.

In Texas, the last baseball glove maker refuses to die By Andrew Mayeda | Bloomberg

By Jenna Duncan and Matt Payne Staff Writers

So long, Lone Star Taps & Caps. The beer store, bar and music venue closed July 30. The company’s other two locations in Fort Worth and Lewisville are still open, but the company said profits at the Denton location were steadily declining. Downtown also now has a cozy events venue above First People’s Jewelers, Venue on the Square. The aptly-named space holds about 40 guests and can be rented by the hour. While a few have departed, there’s some new businesses in that same area: Captiva Salon and Spa. The salon first opened in Denton in 2010 and moved to a space in the old Thomas’ Ethan Allen building on West Oak Street last month.

But wait, there’s more! Blue Bag Grocery also opened in downtown, at 501 S. Locust St. The micro-grocery has necessities like toilet paper and eggs, but also fresh produce, alcohol and so many snacks. There are some new doctors in town: Texas Digestive Disease Consultants has opened shop at 209 N. Bonnie Brae St., Suite 200. The location offers general gastroenterology procedures, including colonoscopies and advanced level procedures. Rocky Haire, founder of the Haire Law Firm, recently opened a Denton office at 1003 Dallas Drive. Haire Law Firm is a personal injury and wrongful death firm that represents clients involved in 18-wheeler accidents and crashes involving cars, DUNCAN | CONTINUED ON PAGE 6

This little brick factory isn’t supposed to be here. It should be in the Philippines, or Vietnam, maybe China. Not here, in the heart of Texas. Baseball gloves, like many other things, aren’t really made in America anymore. In the 1960s, production shifted to Asia and never came back. It might be America’s favorite pastime, and few things are more personal to baseball-lovers than their first glove — the smell, the feel, the memory of childhood summers. But most gloves are stitched together thousands of miles away by people who couldn’t afford a ticket at Fenway Park. One company didn’t get the memo. Since the Great Depression, Nokona has been making gloves in a small town about 70 miles northwest of Denton with a long history of producing boots and whips for cowboys. There’s a livestock-feed store next door to the factory, which offers $5 tours for visitors who want to see how the “last American ball glove” is made. You can watch employees weave the webbing by hand, feed the laces through the holes with needles, and pound the pocket into

Cooper Neill/Bloomberg

Nokona baseball and softball gloves hang on display for sale inside the store at the Nokona manufacturing facility in Nocona, Texas, on July 27. shape with a rounded hammer. The American flag gets stitched into the hide — and that, they say at Nokona, is more than just a business matter. “Made in America means you believe in our country,” said Carla Yeargin, a glove inspector and tour guide at Nokona, where she worked her way up from janitor. “We have the love for the ballglove, because we made it here.”

And the final product could cost you 25 times more than a foreignmade version at the local discount store. Yes, that’s partly a reflection of the premium nature of the Nokona line, but still represents a huge challenge for the company, as well as for Donald Trump. “Making it here” is a big deal for the president. Last month Trump GLOVE | CONTINUED ON PAGE 11


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Enterprising Voices

Main Street association helps strengthen downtown Denton L ocal efforts to create the vibrant downtown that we enjoy in Denton today began almost three decades ago when Denton became a Certified Main Street City. The Main Street approach to downtown revitalization is a national, time-tested framework for community-driven, comprehensive revitalization of aging city centers. When Denton began its program in 1990, the downtown vacancy rate was 30 percent. Today, the rate is less than 2 percent. The City of Denton and the nonprofit Denton Main Street Association (DMSA) have enjoyed a successful partnership for the past 27 years. DMSA manages festivals, merchant promotions, membership, and some aspects of marketing. The City’s Department of Economic Development assists merchants with business retention, expansion and relocation; physical improvement projects; capital improvement projects; works with public and private sector organizations to facilitate downtown improvements (including beautification, landscaping, street furniture, banners, solid waste services, and infrastructure); and works with other city departments to ensure that economic development projects are progressing in a timely manner. Now in its 27th year as a certified Texas and National Main Street City, the partnership has spearheaded major improvements, eco-

Caroline BOOTH COMMENTARY nomic growth, events and awareness downtown. Since the inception of Denton’s program, 436 buildings have been rehabilitated and $132.3 million has been invested in downtown for a net gain of 347 new businesses and 2,410 jobs created. Economic Development began to track the downtown district’s sales tax in 2015; in the past year, sales tax has increased almost five percent to $1.03 million. The direct impact of downtown revitalization on the health of local economies is well documented. Investment in revitalization creates jobs, increases property values, generates sales tax revenue, and attracts tourists — all of which are economic benefits to the communities making those investments. Here’s a local example of the outcomes of downtown revitalization: GSATi, a Denton technology company with a staff of 25 moved

DRC file photo

CEO and founder of GSATi, Cindy Tysinger, poses March 9 for a portrait with her company’s core values at the GSATi office in downtown Denton. GSATi corporate and its employees spent about half a million dollars downtown in the first year being located there. into a rehabilitated building downtown five years ago. GSATi decided to put pencil to paper to determine its economic impact to the downtown area, and here’s what they found: GSATi corporate and its employees spent about half a mil-

Biz on the Wire

lion dollars downtown in the first year being located there. Five years later, they estimate that number has risen to $1.5 million. To learn more about Main Street America, visit http://www.main street.org/. For information on the

Texas Main Street Program, go to http://bit.ly/2pI4UGW. L. Caroline Booth is the Director of Economic Development for the City of Denton. You can contact her at 940-349-7751 or Caroline. Booth@cityofdenton.com.

Calendar of Events

APIs and IPAs, hosted by TechMill, meets every other Tuesday at Harvest House, 331 E. Hickory St., for a techcentered hangout. Tuesday, Aug. 29, 6:30 p.m. Tuesday, Sept. 12, 6:30 p.m.

Aubrey 380 Area Chamber of Commerce hosts monthly networking luncheons the third Wednesday of the month at Prairie House Restaurant. Admission is always $12 and includes a meal. Wednesday, Aug. 16, 11:30 a.m. Wednesday, Sept. 20, 11:30 a.m.

Gene J. Puskar/AP file photo

The Target logo is shown on a store in Upper Saint Clair, Pa. on May 3. Target says it is buying delivery logistics company Grand Junction to help it offer same-day delivery service to its in-store shoppers. Grand Junction’s software connects retailers with about 700 delivery companies around the country that pick up items from distribution centers and take them to customers.

Target agrees to buy software company as it chases Amazon Matthew Boyle | Bloomberg Target, looking to improve its digital business amid increased competition from Amazon.com, agreed to acquire a software company that manages local and same-day deliveries. The discount chain is buying Grand Junction, a San Francisco-based startup that links retailers and other distributors to a network of more than 700 carriers across North America. Grand Junction handles the same-day delivery service for Target’s store in Manhattan’s Tribeca neighborhood. The deal is part of a broader overhaul of logistics operations at Minneapolis-based Target. The company aims to enhance the efficiency and profitability of a web business that has suffered setbacks in recent years, including a data breach, website outages and the departure of digital chief Jason Goldberger in 2016. Though Target’s online sales rose 22 percent in its most recently reported quarter, that was well behind Wal-Mart Stores Inc.’s 63 percent growth. With Grand Junction, Target could get deliveries to customers faster. “Speed matters,” Arthur Valdez, Target’s chief supply chain and logistics officer, said in an interview. “Grand Junction’s platform, along with our 1,800 stores, allows for speed to the guest that can be very competitive.” Terms of the deal, Target’s

“There’s clearly an arms race going on from the mass merchants, recognizing that getting everyday essentials in the hands of customers is critical. The purchase of Grand Junction should help Target compete on these terms in a more economical fashion.”

— Michael Lasser, analyst at UBS Group AG

first acquisition since 2013, weren’t disclosed. As part of the agreement, Grand Junction’s 13 employees will relocate a few blocks to Target’s downtown San Francisco office and set about helping the retailer bring delivery to more areas. The same-day service will expand to other New York City stores by October and to additional U.S. cities early next year, Valdez said. Target and Wal-Mart are playing catch-up with Amazon’s Prime service, which already lets members in about 30 metropolitan areas receive orders in as little as an hour. Four out of five shoppers want same-day shipping, according to a survey by fulfillment software maker Temando, but only half of retailers offer it. “There’s clearly an arms race going on from the mass merchants, recognizing that getting everyday essentials in the hands of customers is critical,” Michael Lasser, an analyst at UBS Group AG, said in a note. “The purchase of Grand Junction should help Target compete on these

terms in a more economical fashion.” Valdez and Grand Junction Chief Executive Officer Rob Howard — who first met when Valdez worked at Amazon and Howard ran another logistics company — spent about three months putting together the deal. Merging with Target will force Grand Junction to close out its work for other retailers like Office Depot Inc. and CVS Health Corp. Howard said he’s not worried about the lost business, as “the pie in local delivery is getting larger.” Founded in 2014, Grand Junction coordinates about 6 million local deliveries a month, about double the volume it handled two years ago. Howard wouldn’t disclose its revenue, but he said the business is profitable. The acquisition is Target’s second investment in e-commerce this year, after plowing $75 million into online mattress seller Casper Sleep Inc. The retailer had considered a bid for the entire business, a person familiar with the situation said in May.

Denton Black Chamber of Commerce meets the second Tuesday of the month at the Denton Housing Authority, 1225 Wilson St.Tuesday, Sept. 12, 6 p.m. Denton Chamber of Commerce will host a membership mixer at Guaranty Bank, 3101 Wind River Lane. Thursday, Aug. 17, 5 p.m.

Denton Chamber of Commerce will host a business networking lunch at SpringHill Suites by Marriott, 1434 Centre Place Drive. Lunch must be purchased at the event for $13.

DRC file photo

Electronics recycling takes place at The Cupboard Natural Foods and Cafe, 200 W. Congress St., the second Saturday of each month. September’s location will be Denton County Brewing Company, 200 E. McKinney Street.

Denton Chamber of Commerce will host a Legislative Lunch and Briefing, an event to discuss the past legislative session with local representatives. It will be at University of North Texas Gateway Center, 801 N. Texas Blvd. Tickets are $35 for individuals or $375 for a table that seats eight.

Denton Hispanic Chamber of Commerce holds the board meeting and member breakfast the second Friday of the month at the Quality Inn and Suites, 1500 Dallas Drive. The Denton League of United Latin American Citizens No. 4366 meets the third Saturday of every month at the Denton Senior Center, 509 N. Bell Ave. Saturday, Aug. 19, 9:30 a.m.

Denton Planning and Zoning Commission meets at City Hall, 215 E. McKinney St., every other Wednesday.

Wednesday, Aug. 23, 6:30 p.m. Wednesday, Sept. 6, 6:30 p.m. Wednesday, Sept. 20, 6:30 p.m.

Denton Young Professionals hosts coffee and breakfast every third Wednesday of the month at The Chestnut Tree, 107 W. Hickory St.

Electronics recycling takes place at The Cupboard Natural Foods and Cafe, 200 W. Congress St., the second Saturday of each month. Drop off any computer-related electronics for recycling. Visit www.computercrusher.com for a list of acceptable items and more information.

Denton Young Professionals hosts a monthly mixer at a new business each month.

Lake Cities Chamber of Commerce holds weekly coffee meetings at rotating businesses on Wednesdays.

Friday, Sept. 15, 11:30 a.m.

Wednesday, Aug. 16, 7:15 a.m. Wednesday, Sept. 20, 7:15 a.m.

Wednesday, Aug. 23, 7 a.m. Wednesday, Aug. 30, 7 a.m. Wednesday, Sept. 6, 7 a.m. Wednesday, Sept. 13, 7 a.m.

Thursday, Sept. 7, 5:30 p.m.

Friday, Sept. 8, 11:30 a.m.

Friday, Sept. 8, 11:45 a.m.

Upcoming locations will be listed at www.lakecitieschamber.com/events.

Saturday, Sept. 9, 8 a.m.

Little D Open Coffee Club, hosted by TechMill, meets every other Tuesday at West Oak Coffee Bar, 114 W. Oak St., to discuss technology and startups. Tuesday, Aug. 22, 8 a.m. Tuesday, Sept. 5, 8 a.m. Tuesday, Sept. 19, 8 a.m.

Open Hack Denton, hosted by TechMill, is a casual meetup for people to code together, from professional software developers to those who have never built code. They meet monthly at Harvest House, 331 E. Hickory St. Tuesday, Sept. 12, 6:30 p.m.

Sanger Chamber of Commerce holds a networking leads luncheon the fourth Wednesday of every month. RSVP at http://sangertexas .com/events. This month’s luncheon will be held at the chamber office, 300 Bolivar St. Wednesday, Aug. 23, noon

Women in Commerce, a group organized by the Denton Chamber of Commerce, will host In the Mix, a membership mixer and happy hour at Tex Tapas, 109 Industrial Street. Tuesday, Sept. 12, 4 p.m.

Who to contact Scott K. Parks Managing Editor 940-566-6879 | sparks@dentonrc.com Jenna Duncan Business Editor 940-566-6889 | jduncan@dentonrc.com Sandra Hammond Advertising Director 940-566-6820 | shammond@dentonrc.com Shawn Reneau Advertising 940-566-6843 | sreneau@dentonrc.com


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Enterprising Voices

Small Business Administration dollars on rise S

mall businesses are the engines that drive economic growth in communities all across the United States. This year, the U.S. Small Business Administration is on track in providing more capital to small employers than last year. The federal government is also working to meet its contracting goal for small businesses again this fiscal year.

SBA loan dollars increasing

With two months to go before the end of fiscal year 2017, the Dallas/Fort Worth district office has already approved 1,651 loans for a value of $933.6 million in guarantees. This equates to an increase of 5.2 percent in dollar value compared to the same time last year. The average loan in the district is $564,984 which is consistent but slightly lower than most of the other high dollar value districts including Los Angeles at $636,109, Georgia at $766,983, Santa Ana at $626,752 and South Florida at $509,798. It is anticipated that by end of August, the Dallas/Fort Worth district which includes 72 counties would have reached the billion-dollar mark in loan value and may be heading to an all-time lending record in fiscal year 17. In Denton County, so far the SBA has guaranteed 191

Herbert AUSTIN COMMENTARY loans totaling more than $105.7 million. The top SBA lenders in dollars are: ■ Wells Fargo, $11.5 million ■ Green Bank, $7.8 million ■ Gulf Coast Bank, $5.2 million ■ Greater Texas Capital Certified Development Corp, $4.6 million ■ Compass Bank, $4.4 million The top SBA lenders in number of loans are: ■ Wells Fargo, 30 loans ■ Compass Bank, 28 loans ■ JP Morgan Chase Bank, 16 loans ■ Greater Texas Capital Certified Development Corp., 7 Loans ■ Veritex Community Bank, 7 loans ■ Celtic Bank, 6 loans SBA is continuing its effort to recruit more banks to offer SBA Guaranteed Loans. Nationally, SBA is on target to meet its fiscal year goal of having approximately of 2,500 banks offering SBA loans by September 30, 2017.

Contributed map

Above is a map showing Denton County HUBZone areas.

Federal contracting opportunities for small businesses

The U.S. Government is the world’s largest customer, spending more than $500 billion a year on goods and services. The SBA has the role of helping all federal agencies meet the government’s statutory goal of procuring 23 percent with small businesses. SBA administers a number of programs to help make competing for small business contracts easier for certified

firms. One important program is the HUBZone Program, which stands for Historically Underutilized Business Zone. We tell small businesses that if they’re located or willing to relocate to a HUBZone and hire at least 25 percent of their employees living in a HUBZone, they will gain access to competitive and sole source contracting opportunities with federal agencies. Firms participating also receive a 10 percent price evaluation preference in full and open contract

competitions and subcontracting opportunities. When we look at Denton County, there is a large portion of the county with HUBZone areas. Currently, out of the 83 certified HUBZone firms in the Dallas/Fort Worth District only one from Denton County is utilizing the program. The program is to promote economic development and employment growth in distressed areas by providing access to more

federal contracting opportunities. For more information about SBA loans and contracting programs, visit www.sba.gov or contact the Dallas/Fort Worth District Office at 817684-5500. HERBERT AUSTIN serves as the U.S. Small Business Administration’s Dallas-Fort Worth District director and oversees the agency’s programs and services in 72 Texas counties, including Denton, Tarrant and Dallas.

Biz on the Wire Chain-store stocks hammered on day of best sales By Lu Wang and Janet Freund | Bloomberg

Alan Diaz/AP file photo

Shoppers walk into a J.C. Penney department store in Hialeah, Fla. Following a week of disappointing earnings from J.C. Penney and Macy’s, the drumbeat resumed Tuesday as results from Advance Auto Parts, Coach and Dick’s Sporting Goods sent their shares down at least 14 percent.

Retail sales may be rising faster than any time this year in government data, but don’t tell that to investors in chainstore stocks being eaten alive by Amazon.com. The bad news won’t stop for brick-and-mortar store operators. Following a week of disappointing earnings from J.C. Penney and Macy’s, the drumbeat resumed Tuesday as results from Advance Auto Parts, Coach and Dick’s Sporting Goods sent their shares down at least 14 percent. As if that wasn’t bad enough, today’s carnage came as government data showed

U.S. retail sales advanced in July by the most this year, with widespread gains from department stores to buildingmaterials outlets. At this rate, the group is poised for the worst annual decline in share prices since the financial crisis. It’s also signaling a rough conclusion to a once-strong reporting season and casting a shadow on Wal-Mart Stores Inc. and Target Corp., which are due to report later this week. In a sign of the prevailing bearishness, even Home Depot’s profit beat was greeted with a 3 percent drop in the share price. “Everybody is being burned in retail and people are just

questioning, ‘Is there any place that’s Amazon-free?’” Gary Bradshaw, a Dallasbased fund manager for Hodges Capital Management Inc., said by phone. The S&P Supercomposite Specialty Retail Index dropped 2.8 percent at 12:02 p.m. in New York, on course for the biggest decline since May 2016, as all but three of its 65 members fell. The SPDR S&P Retail ETF fell 2.4 percent, heading for the lowest close since February 2016. The ETF has lost 10 percent this year on bad news ranging from a government-proposed tax on import goods to Amazon’s expansion into the food industry.

Advance Auto Parts added to the weak results for carpart retailers, reporting quarterly sales and profit that trailed estimates and warning that headwinds will continue into the second half of the year. The stock erased about one fifth of its value, poised for the biggest decline on record. Peers such as O’Reilly Automotive Inc. and AutoZone Inc. also slipped. Similarly, Dick’s Sporting Goods Inc.’s weaker-thanexpected sales and earnings sparked a selloff in the likes of Nike Inc. and Foot Locker Inc. “There will be some winners in retail but boy, it’s just a land mine,” Bradshaw said.

Chamber Spotlight Amazon turns to debt markets to back grocery plans Sanger Chamber of Commerce

Congratulations to the entire staff at Sanger Bank for being the Sanger Area Chamber of Commerce’s business of the month for July. Sanger Bank is a locally owned and operated financial institution that opened in 1987 that doesn’t have the “Big Bank mentality” and certainly doesn’t want it. The staff and customers are their strength and have brought them to where they are today. In the past month, the chamber added several new members: Crystal Web Solutions; Guild Mortgage Company; Boys & Girls Club of North Central Texas; Ashly’s Bio-Balance and Linda Berman Licensed Healthcare Agent. Our next Lead’s Luncheon will be Wednesday, Aug. 23 at the Chamber’s office located at 300 Bolivar Street in Sanger from noon to 1 p.m. We’ve got a great speaker coming to talk about changes coming to the City of Sanger. The Sanger Area Chamber of Commerce is hosting its 39th annual Sellabration on

Saturday, Sept. 9 which is the highlight of the Sanger community. Historically, more than 4,500 people have attended this festival. The festivities include live music, vendors, a kid’s zone, numerous stage performances, Little Miss & Mr. Sanger Pageant, street dancing and a variety of festival foods all in a street fair atmosphere. There is no entry fee and it is definitely family-friendly. We’ve expanded the hours so be prepared to spend all day from 8 a.m. to 8 p.m. enjoying all of the wonderful stage exhibitions only to be headlined with fantastic country music provided by the up and coming new country artist Cameron Hobbs followed by the one and only all-time favorite Bubba Harper. For more information, check out our Facebook page at http://bit.ly/2uIWFtn or visit our website at http:// sangertexas.com/sellabration/ and by all means feel free to contact us via email at chamber@sangertexas.com.

Amazon.com Inc. is turning to the debt markets to fund the acquisition of Whole Foods Market Inc. and power Jeff Bezos’s planned conquest of the supermarket business. The world’s largest online retailer is selling unsecured bonds in as many as seven parts, according to a person with knowledge of the matter. The longest portion of the offering, a 40-year security, may yield 1.6 percentage points to 1.65 percentage points above Treasuries, said the person, who asked not to be identified as the deal is private. Amazon is selling bonds for the first time since 2014 to support the $13.7 billion purchase of the organic-food chain, according to a company statement, a deal that rattled the grocery world in June. The partnership is expected to reduce prices at Whole Foods, an iconic yet struggling highend grocery trying to lure more low- and middle-income shoppers. The deal could intensify a price war in an industry beset

by razor-thin margins and persistent deflation. The e-commerce giant is approaching the market following mega bond deals from AT&T Inc. ($22.5 billion) and British American Tobacco Plc ($17.25 billion), and Moody’s Investors Service said this one could be as high as $16 billion. It also comes at a time when tech companies have been active debt issuers, including a debut offering from Tesla Inc. on Aug. 11, and Apple Inc. announced Tuesday its first Canadian-dollar debt sale. An onslaught of supply as well as rising geopolitical tensions in the Korean Peninsula has added to the extra yield that investors demand over Treasuries. “Despite recent market volatility and indigestion, we would expect this deal to be very well-received,” said Matt Brill, a money manager at

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and film programming and selling the home voice recognition product Echo. A surge in the value of Bezos’ stake in Amazon has allowed the company founder to personally invest in such projects as his $250 million purchase of The Washington Post in 2013.

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Biz on the Wire

Amazon launches Instant Pickup service at 5 college campuses By Angel Gonzalez | The Seattle Times SEATTLE — Amazon.com has launched yet another brick-and-mortar experiment, this time geared to college students in a hurry on their campuses.

The service, dubbed Instant Pickup, offers a limited stock of basic items that range from snacks to phone chargers and Amazon devices. Using the service, shoppers — members of Prime, or the discounted Prime Stu-

dent loyalty program — order online. Then their order can be picked up almost immediately — in 2 minutes, Amazon says — at five staffed locations that Amazon has set up around college campuses at the University of California, Los Angeles,

Georgia Tech in Atlanta, University of California at Berkeley, Ohio State University in Columbus, and the University of Maryland in College Park. Amazon, which operates pickup locations on or near 22 college campuses in the U.S.,

says it will bring the service to other places soon. The move underscores how Amazon is tinkering with various ways of delivering goods to shoppers. Its biggest challenge is to beat brick-and-mortar retailers in the game of instant

gratification. To that end, the company is making major investments in logistics, including a fleet of air freighters, and also experimenting with different networks of physical stores, ranging from bookstores to grocery pickup locations.

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Bitcoin soared past $4,000 for the first time on growing optimism faster transaction times will hasten the spread of the cryptocurrency.

Bitcoin surges past $4,000 By Justina Lee and Yuji Nakamura | Bloomberg

Bitcoin soared past $4,000 for the first time on growing optimism faster transaction times will hasten the spread of the cryptocurrency. The largest digital tender jumped to a peak of $4,298 Monday, a gain of nearly 20 percent since Friday, after a plan to quicken trade execution by moving some data off the main network was activated last week. The solution — termed SegWit2x — had been so contentious that a new version of the asset called Bitcoin Cash was spun off earlier this month in opposition. The split grew out of the tension between growing demand for the virtual currency and some of the design features that had fueled that popularity — the decentralized verification procedures that ensured against hacking and government oversight. While this month’s confrontation ended up as little more than a speed bump in bitcoin’s more than 300 percent rally in 2017, concerns remain around the capacity to increase transaction volumes. “Up until now a lot of people didn’t really believe bitcoin could go any higher until the scaling issue is resolved,” said Arthur Hayes, Hong Kong-based founder of bitcoin exchange BitMEX. “With this actually being implemented on protocol, theoretically the amount of transactions that can be processed at a reasonable speed is going to be much higher, so a lot of people are very bullish about bitcoin now.” Because of a cap on the amount of data processed by bitcoin’s blockchain, transactions started to slow as its popularity boomed. The community was then divided between the SegWit2x solution backed by a group of developers and another supported by miners that sought a larger increase in the block size. The latter then became Bitcoin Cash. Bitcoin Cash, whose price has retreated since peaking right after its birth, has neither disrupted its progenitor’s operations nor undercut its appeal.

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Unemployment Update

National numbers

WASHINGTON (AP) — More Americans applied for jobless aid the first week of August. Despite the small

Biz on the Wire

Stocks vary in falling threat By Eric J. Weiner | Bloomberg

The dollar rallied and U.S. stocks were mixed as the threat of war with North Korea diminished. Treasuries extended losses after U.S. retail sales exceeded forecasts last month, boosting speculation that the Federal Reserve might raise interest rates again this year. The S&P 500 index, Dow Jones Industrial Average and Nasdaq Composite index were all down slightly. Meanwhile, traditional havens such as gold and the yen slumped. Oil slid for a second day. The CBOE Volatility index, also known as the VIX, continued to tumble amid a return to calm in the stock market. The Stoxx Europe 600 index edged up after the German economy extended its growth spurt in the second quarter, albeit at a slower pace than expected. The British pound dropped to a five-week low after U.K. inflation unexpectedly held steady in July, clouding the outlook for rate increases. July retail sales in the world’s biggest economy advanced by the most in any month this year, bolstering the case for more policy tightening. Federal Reserve Bank of New York President William Dudley earlier said he favored another rate hike in 2017.

increase, the number of people seeking benefits remained close to historic lows. The numbers: Weekly unemployment applications rose by 3,000 to a seasonally-ad-

justed 244,000, the Labor Department said Thursday. The less volatile four-week average declined 1,000 to 241,000. The number of people collecting unemployment benefits has

fallen 8.8 percent over the past 12 months to 1.97 million. The takeaway: The job market appears solid as the U.S. enters its ninth year of recovery from the Great Recession.

Employers are holding onto workers with the expectation that business will continue to improve. Jobless claims — a close indication of layoffs — have

come in below 300,000 for 127 weeks in a row. That’s the longest such stretch since 1970, when the U.S. population was much smaller.

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Educate yourself about builder’s risk insurance Almost every homeowner insures their home. A typical homeowner’s policy protects against fire, hail, theft, and other common perils. However, a typical homeowner’s policy covers completed structures. Therefore, if you plan to build or have built a custom home or other significant structure, you will need to make sure you have insurance that provides coverage during the construction process. Builder’s risk insurance is a special type of property insurance for the construction process. Generally, builder’s risk insurance is coverage that protects a person’s or organization’s insurable interest in materials, fixtures and equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered loss. Usually written for a specific project, builders risks policies will cover “named perils” of loss by external causes (such as fire or hail), but also may cover property damage by acts of third parties (theft or vandalism). Most builders risk policies are written on an “all risk” basis, meaning that the policy will cover all risks of property damage unless the cause is specifically excluded. Such policies may be referred to as ARBR (all risk builders risk) or CAR (construction all risks) policies. In addition, contractors will sometimes obtain builders risk “floater” policies that are not project-specific, but that will cover property damage at any project undertaken by the insured contractor, subject perhaps to lower limits than a project-specific builders risk policy. Although coverage is often purchased by the custom builder or general contractor, property owners should purchase this coverage or contract with the builder or general contractor to be a named insured in the policy. Many times, proof of builder’s risk coverage is necessary to comply with local city, county and state building codes. If you are the owner of the property and are commissioning new construction, you are

Sam BURKE COMMENTARY the one most likely to suffer if construction is delayed because the builders risk policy was not in place. Further, some in the construction industry believe that it is the property owner who should have the builder’s risk policy because they have already paid for the improvements to their land, and if the builder receives the funds directly from a claim, theoretically, they could abscond with that benefit. Therefore, it is far safer for the property owner to obtain the builder’s risk policy, because they already own the building, even while it is under construction. If something happens to the under-construction project, then they should be the beneficiary and control how the funds are spent. Although commonly written as an all-risk policy, common exclusions significantly limit what “all” means. By far, the most significant limit on builder’s risk coverage is flawed workmanship. If your builders risk policy includes a faulty workmanship exclusion, you may need additional insurance coverage to protect you from this specific risk. Some insurance companies offer an endorsement to re-

move the common faulty workmanship exclusion. Every owner should inquire about this option and purchase this coverage if it is available. If such coverage is not available, then other options include performance bonds and/or well-drafted warranties in your construction contract. Always be aware that a contract is only as good as the person you contract with. If you have the world’s best warranty and you make it with a contractor who is broke and changes his business name once a year, it’s not worth the paper it is written on. One exception to this rule (at least as to the ability to perform) is insurance. Insurance is a highly regulated industry. Part of what that regulation makes certain of is that insurance companies have the funds available to pay the claims made on their policies. Especially in Texas, there is nothing that ensures a contractor can or will stand behind his construction warranty. Other common exclusions from builder’s risk policies include earthquakes and floods. In Texas, earthquakes are extremely unlikely, but flooding is not. Fortunately, FEMA maintains and updates flood maps regularly used for identifying suitable construction sites. Generally, if you are building outside of the 100-year flood plain, flooding will not be an issue. In most cities and counties in Texas, you are required to obtain a construction permit, one of the conditions of which

Getty Images/iStock photo

If you plan to build or have built a custom home or other significant structure, you will need to make sure you have builder’s risk insurance that provides coverage during the construction process.

Always be aware that a contract is only as good as the person you contract with. If you have the world’s best warranty and you make it with a contractor who is broke and changes his business name once a year, it’s not worth the paper it is written on. is that you are not building in the 100-year flood plain. In lieu of or in addition to checking the FEMA maps yourself, your construction contract with your general contractor should include that they are required to obtain all necessary permits. If you are building in an unincorporated area outside of Denton County, I recommend you check with the FEMA map yourself.

Finally, be aware there are many soft costs that may not be covered by builder’s risk coverage. A soft cost is money you lose during the time it takes to move forward with your project after a covered loss. Soft costs may include additional insurance premiums, legal fees and construction loan interest. Some policies will include soft costs, and some might not.

If you discover that your builders risk insurance doesn’t cover soft costs, consult with your insurance agent about adding supplemental coverage. SAMUEL B. BURKE is certified by the Texas Board of Legal Specialization in civil trial law. He can be reached at sburke@dentonlaw.com or www.dentonlaw.com.

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trucks, aircraft and more. Prosper now has a Dick’s Sporting Goods at 700 Richland Blvd., just off of U.S. 380. Also off of 380 and closer is the Wash Factory: An offshoot of the same car wash company here in Denton along U.S. 380 in Cross Roads. With the opening is a new deal: Monthly wash plans for customers that will allow them to wash their cars an unlimited amount of times. These plans will roll out first at the Cross Roads location, then at the original location on Loop 288 in Denton.

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County legislators coming together for Chamber event T Chuck Carpenter COMMENTARY

his past February, the Denton Chamber helped coordinate a series of events in Austin in conjunction with the 85th regular session of the Texas Legislature. We had nearly 200 registered participants, representing a variety of interests from all over Denton County. The regular session ended May 29; however, legislators

were subsequently called back for a 20-topic special session. Some of these topics are provocative, depending on whether one’s perspective is business-related, social or moral in nature. I don’t feel like we elect these individuals so they can tell each of us what we want to hear. Fortunately, our system allows us to inquire about any candidates personal be-

liefs in advance, with the option to then support whoever comes closest to our own opinions. In an effort to maximize interaction with area constituents, the Denton Chamber will hold a post-Legislative Luncheon & Briefing on Friday, Sept. 15 in the Gateway Center at the University of North Texas in Denton. Individuals representing the

other chambers across Denton County have also been invited to attend. Invitation letters have been sent to both state senators and the four state representatives that make up the Denton County legislative delegation. All six have participated in similar events following the legislative sessions in 2013 and 2015. Details of the format are

pending, but, the intent is to provide a setting for the delegation to report on key laws passed during the 85thTexas Legislative Session and subsequent special session. Tickets are $35 per person and now available at the Denton Chamber office, 414 Parkway; or members may make their purchase online, www.denton-chamber.org.

Cover Story

Fresh homemade vegan cheese, in this recipe, is made from soaked cashews, oil, lemon juice, and a vegan alternative to gelatin, among other seasonings for flavor Friday at Juice Lab in Denton. VEGAN | CONTINUED FROM PAGE 1

change the information a lot over the years if they open or close or change what they offer,” Morin said. “I feel like Denton has the community support, they have the interest and I think Spiral is going to show a lot of other businesses that they could do all-vegan and do well.” While the popularity of this style of eating has gained steam slowly in recent years, it has surged in the past three nationally and locally. A study by GlobalData found that 6 percent of Americans consider themselves vegan, up from 1 percent in 2014.

Meeting the demand

With the increase comes an increased demand for nontraditional products, innovative replacements and a desire to make vegan food craveable. For Loni Puckett, co-owner of the Juice Lab, she just wants healthy food to taste good. Plus, experimenting with new kinds of food is her passion, after she left microbiology to work on the science of food in her own juice bar and restaurant. Earlier this year, the juice and smoothie shop rolled out its first food menu, where about 90 percent of the options are vegan. Other existing restaurants around Denton also cater to vegan needs, like tofu scrambles and baked goods at Seven Mile Cafe or the recently introduced vegan cheese at J&J’s Pizza. Having more vegan options shows the Denton restaurant owners are recognizing the growing demand for this kind of food, Morin said. “In general, I think restaurants are thinking more about it and sometimes I have people contact me and say, ‘hey we’re offering this — why don’t you check it out’ sort of thing — so they’re aware this need is out there,” she said. Even with increased options, she’s especially excited for Spiral Diner to open, a restaurant where she knows she can walk in and eat anything on the menu, no questions asked. Amy McNutt, the restaurant’s co-owner, is spending her days in Denton trying to

get the diner ready to open this month after some setbacks. Since she helped open the original Spiral Diner in August 2002 in Fort Worth, she’s seen the vegan food industry grow and evolve. What started as a three-employee operation in 800 square feet has expanded to a larger location in Fort Worth, one in Dallas and one in Denton. Once the restaurant in Denton opens, the restaurants will have about 150 employees. At first, McNutt said she wanted to prove a point that vegan food could be good, comforting and accessible. As a lifetime animal lover, she had been vegetarian for as long as she could remember, but didn’t learn about animal cruelty at dairy farms and when producing other animal byproducts until she was in college. “When I went vegan, that was 20 years ago, back then the internet hardly existed,” she said. “I got a flyer form a dude in Venice Beach, then I had to get a book to read about it. Now, you can just Google if you have any inkling about wanting to know about it.” This increase in available information has helped turn more people to a vegan lifestyle, and in turn, to her business, she said. Starting out, she wasn’t sure how she’d fill seats but over the past eight years, business has grown gradually and built a loyal following in Dallas and Fort Worth. In the past few years though, that gradual growth has reached a new level McNutt didn’t initially anticipate. Now, a normal wait time for a table at both existing restaurants is an hour and a half on the weekends, sometimes two. The restaurant’s cult-like following has helped spur this third location in Denton, which McNutt said helps take some of the pressure off of the Dallas and Fort Worth locations.

Photos by Jake King/DRC

Spiral Diner is an all-vegan diner with two locations in Dallas and Forth Worth. Construction is almost complete on a Denton location at 608 E. Hickory St. The diner will be the first and only all-vegan restaurant in Denton. approachable and something people knew — the classic American diner. The menu is just as approachable and vast as a traditional diner, with sections for blue plate specials like spaghetti and meatballs to burgers and wraps to desserts like banana splits. “It’s comfort food, stuff you grew up eating, nothing too scary, so people can make that first baby step into knowing that if there’s any flavor in the world you miss or think you can’t live without, you can get it from plants,” she said. “It’s anything you could possibly want. That’s why our menu is so huge, because we’re trying to prove a point — we can make it all and you won’t miss out on anything.” Each component is crafted in-house, partially because starting out in 2002 there weren’t a lot of options for restaurants to buy different kinds of vegan cheese and proteins. McNutt remembers having to make powdered sugar when the business first started, because there wasn’t a type she could buy that wasn’t produced with bone char. While the restaurant now buys vegan powdered sugar, most other components are made in-house: The cashew nacho cheese; protein replacements like seitan made from gluten; and all the sauces and salad dressings. To be able to do this, McNutt has a huge staff at

each restaurant, about 50 people and a lot of them are in the back just doing the prep work or working on bakery items, like custom ordered cakes and pies. Even with the extra employees, McNutt is able to keep costs down to about $10 a plate across the board. “We could make more money if we made it more simple, but that’s not the point,” she said. “We’re trying to persuade people to eat vegan, so if they’re not blown away by the amount of options, it’s like, what’s the point of Spiral?” At JuiceLab, just about everything on the menu can be made vegan, from buildyour-own burgers to nacho plates to grilled cheeses. By making these kinds of vegan foods accessible, Puckett wants customers to branch and out try replacements of the foods they love, whether it’s a vegan raw cheesecake or vegan mac-and-cheese grilled cheese. What started as a way for her to eat healthier turned into her making vegan and gluten-free treats for family and friends at the holidays is now at the core of her business. “That’s what I’m always pining after for people to say about my food — ‘Wow, I can’t believe this is gluten-free or this is healthy,’ because that’s a common misconception that for health food you need to sacrifice taste or convenience and that’s just not true,” she

said. “You may have to be more creative, but it’s there. You just have to play with it.” Prices are able to stay down at JuiceLab for the food menu also by using byproducts from other menu items, Puckett said. For example, after they make almond milk to go with smoothies, the leftover almond pulp is then dehydrated to make into almond meal and almond four for baked goods. While juices are pricey because the amount of vegetables and fruits packed in, it’s still possible to come in and get a $3 baked good or a full breakfast for $7.50, Puckett said. Plus, vegan baking is less expensive nowadays since cost drivers like dairy and eggs are eliminated from the mix, she said.

Growth and demand for vegan products

At the Cupboard in Denton, vegan products have been on shelves since they opened, said Paul Tanis, the store’s general manager. They’ve also always had a large base of vegetarian products, but in recent years these have made a switch to being vegan, Tanis said. A lot of chips and granola that might be vegetarian but have trace amounts of whey protein or other animal products have switched to other additives that are vegan. Now, there’s a variety of vegan goods across the store

from jerky to half a dozen different kinds of non-dairy milk to protein replacements. “We’ve definitely had a continued increase in vegan product demand and the selection keeps growing as well,” Tanis said. “One thing that used to be was people were looking for vegan meat alternatives, and I think that’s completely expanded now into every food option category.” In addition to the variety of products expanding, the quality has too, Tanis said. When he first tried soy cheese 20 years ago, it was awful, he said. It would stick to the roof of his mouth and not melt when heated. Now, the vegan cheese replacements are so good that they’re used in almost all of the Cupboard’s cafe prepared food options instead of dairy cheese. Between options in groceries, recipes at home and growth of vegan dining options, the barrier to become vegan has been lowered and is becoming more accessible, McNutt of Spiral Diner said. “We live in a day and age where eating meat is not necessary, it’s not like we’re hunting and gathering,” she said. “If you live in modern society, there’s no reason to not do it and people are being exposed to the information to make that decision.” JENNA DUNCAN can be reached at 940-566-6889 and via Twitter at @jennaf duncan.

Creating comfort and familiarity

McNutt was determined to show Texas that vegan food can still taste good and be accessible when she started Spiral Diner. Down to the concept, she wanted it to be

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Growth outperforms value so far in 2017 “T

he fundamental backdrop for Value returns has been especially unfriendly in recent years, but these conditions are unlikely to persist (and are already moderating).” — Ben Snider, Goldman Sachs Equity Strategist Value investing has been a tried and tested approach for superior, long-term returns. In February, this column commented on the powerful comeback of value investing in 2016. Value stocks substantially outperformed growth stocks (and market indices) across all classifications: Large companies, small companies, American, international. For example, U.S. value stocks rose 17 percent while U.S. growth stocks gained only 5 percent. Funds focused on the best value stocks did even better. In that February article, we also posed the question: Will value continue to outperform? “History suggests the an-

Jonathon Fite COMMENTARY swer is “yes.” Before 2016, there were six big turning points where value switched from underperformance to outperformance. Each of these winning stretches for value lasted more than 24 months. In the current cycle, value’s turn started in mid-2016, so the trend seems likely to last quite a while longer. Indeed, if key macro forces such as inflation and interest rates continue to rise, value stocks may be poised for a good multi-year run... But value stocks didn’t go up in a

straight line — markets remained choppy.” How has 2017 played out thus far? In the U.S., the Russell 1000 Growth Index outperformed its value stock counterpart by 10 percentage points in the first half. Globally, value lagged behind growth by about 7 percent. So, growth has substantially outperformed value in 2017 to date. To understand this better, it is helpful to look at the key macro drivers: Expectations around inflation and interest rates. As a general principle, artificially low interest rates tend to fuel speculation as money flows into glamorous, momentum stocks. In contrast, normalized interest rates tend to make asset prices more rational. Overvalued high-fliers come back to earth, and value stocks rise toward fair prices. In late 2016 and first couple months of 2017, markets showed signs of a return to

rationality. The new probusiness administration promising tax cuts and infrastructure spending all fueled expectations of rising inflation and interest rates. This helped fuel a surge in value stocks, many of which were concentrated in the natural resources and financial sectors. But following the weakest first-quarter economic growth in three years, this bullishness in value stocks receded as first-quarter earnings reports underwhelmed and much of the pro-business agenda seems to have stalled in Washington. Interest rates (as measured by the 10-year bond yield) actually declined, as did inflation expectations. Speculative fervor has return as money has surged into highly valued growth stocks such as Netflix and Tesla, and out of value stocks. Will value investing comeback resume after this setback? Looking at the bigger

picture, the answer is still yes, and conviction is getting stronger. First, we are at valuation extremes. Growth stocks are the most expensive, as they’ve been relative to value stocks since the height of the dotcom bubble in 1999. Growth stocks, especially technology high-fliers such as Tesla and Netflix, are priced for perfection. Meanwhile, many value sectors such as commodities, are at generational lows. This extreme gap should close. Second, interest rates and inflation seem likely to move higher. As Europe’s economy recovers, its central bank may soon exit its perverse negative interest rate policy. This in turn, will push up U.S. interest rates also. Commodity prices — industrial, energy, agricultural — seem to have bottomed out after their deflationary decline over the last five years. Government policies — including tax cuts and

higher military and social spending — also suggest higher rates and inflation will be on the way. The above factors bolster our confidence that value investing should resume its outperformance. But market sentiment is fickle and volatile. That’s why we are advocates of dollar cost averaging. By steadily, systematically adding to holdings, investors can exploit the market volatility along the way. Jonathon Fite is a Managing Partner of KMF Investments, a Texas-based pure pay-for-performance hedge fund. Jonathon is also a lecturer with the College of Business at the University of North Texas. This column is provided for general interest only and should not be construed as a solicitation or as personal investment advice. Comments may be sent to email@KMFInvestments .com.

Business Spotlight The long and short of trading stocks By James F. Royal | NerdWallet Investors have two main ways to make money when stocks move, though many investors have heard of only one. Everyone knows you can profit on stocks as they go up, but you can also make money as they fall. Here’s a bit more about each strategy.

Buying a stock, or ‘going long’

When you buy a security — a stock, a bond, an option, anything — the professionals say you’re “going long” that asset. It reflects the adage “buy low and sell high.” So you could go long Microsoft or Coca-Cola, or whichever company your research has led you to, and as the company’s sales and profits rise over time, its stock price should go up. The upside to buying stock: There’s no limit to the upside when you go long. A $50 stock can double to $100, move to $150 and keep rising indefinitely. The best stocks continue to compound their gains over time — look at Amazon, which has risen 49,000 percent since its initial public offering in 1997 — and many investors hold their positions for decades. Of course, plenty of stocks don’t achieve these kinds of gains. The downside to buying stock: Shares could fall to zero and you’d lose your entire investment. (You’re not locked into a position, though; if you see the stock falling, you can always look to sell.) Getting started buying stocks is relatively quick and easy. You don’t need a lot of special permissions or a margin account that would let you borrow money to buy stocks, and many brokerages don’t have account minimums for long-only investors, as they do for short-sellers. All in all, buying stocks — or going long — is much simpler than shortselling them.

go down, you buy up the stock, return it to the lender and pocket the difference. That sounds simple enough, but short-sellers need to do a few other things that long-only investors don’t have to: ■ Short sellers need a margin account, since they’re borrowing from the brokerage and paying interest on the outstanding debt. ■ To make the trade, short-sellers need cash or stock equity in that margin account as collateral for the short position, equivalent to at least 50 percent of the short position’s value, according to Federal Reserve requirements. In addition, short-sellers cannot spend the cash they receive from the short sale. ■ To maintain the short position, the investor must keep sufficient equity in the account as collateral for the margin loan, at least 25 percent per exchange rules. However, brokerages may have a higher minimum, depending on the riskiness of the stocks as well as the total value of the investor’s positions. ■ If the stock pays a dividend while shorted, the shortseller must repay that to the owner from whom the stock was borrowed. ■ Finally, short-sellers may also have to pay a “cost of borrow,” or a stock loan fee paid to the brokerage, some of which often goes to the actual owner of the stock as an inducement to lend it. This fee might be a few percent annually of the total stock value, though for stocks that are popular shorts and in difficult market times, it may go much higher. Because of these complexities, most investors stick to going long and leave shorting to the professionals. Each element reduces the potential profitability of a short position. Given the market’s long-term upward bias —

and the fact that hope springs eternal — many investors find it hard to short stocks and achieve consistent, profitable results. There’s a maximum gain when shorting a stock, the total value of the shorted stock. Shorting 100 shares of a $50 stock caps your gain at $5,000, assuming the stock goes to $0. Shorting does not allow you to compound your gains, as going long does, but as the stock declines you need to maintain less equity in your account to hold the position. You can lose more than you initially borrowed from the broker. In fact, theoretically there’s no limit to how much you could lose. A $50 stock might rally to $100 and then $200. If the stock does rise, a short-seller might receive a “margin call” and have to put up more collateral in the account to maintain the position or be forced to close it by buying back the stock. For those who still would like to profit on a stock’s decline, put options may be a more attractive trade.

Richard Drew/AP

Trader Edward Curran works on the floor of the New York Stock Exchange Aug. 7. Stocks are little changed in early trading as technology companies rise and energy companies slip with the price of oil. aggressive accounting, or just poorly run companies, information that may well be hiding in a company’s filings with the Securities and Exchange Commission. These are all valuable functions in

James F. Royal, Ph.D., is a staff writer at NerdWallet, a personal finance website. Email: The article The Long and Short of Trading Stocks originally appeared on NerdWallet.

Controversies around shorting stocks

Short-sellers receive all kinds of criticism. Some investors claim short-sellers are hurting their businesses or are manipulating opinion by saying something bad about the company or stock. Some say that short-sellers merely spread lies, while others imply that short-sellers are almost unpatriotic for not supporting publicly traded companies. But short-sellers often bring new information to light, leading the market to a more sober assessment of a company’s prospects. That can have the effect of keeping a stock at a lower price than it would have if only cheerleaders were on the sideline. The shorts help keep unbridled enthusiasm in check, and often they uncover fraud,

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Less well-known is that you can profit when stocks go down by selling stocks that you don’t own. That sounds unbelievable, but it’s called short-selling, or “going short” a stock. It flips that adage to “sell high and buy low.” To short a stock is to wager that its price will tumble, perhaps due to the company’s declining sales and profits, and that you can buy it later at a lower price. You borrow stock from a broker, sell it in the market and then buy it back later to close your position. You get cash from the stock sale, which is effectively a margin loan from the brokerage, and should the stock price indeed

the capital markets. Still, there’s nothing holy about longs or shorts, and both play a role in creating an efficient market that keeps trading costs lower for everyone.

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Enterprising Voices

Small businesses can tell their story on social media E

veryone has a story to tell. How you tell that story, well, that’s up to you. For a small business owner, this story might be late nights, early mornings, triumphs, failures and tears. Consumers aren’t just buying products anymore; consumers are buying stories. Don’t wait for a talk show to call, for a journalist to write a feature, for a ghostwriter to pick up your autobiography. It is your story. Tell it how you want it to be told in a public, interactive space where anything is possible. Social media is ready to tell your business’ story. Are you?

Improve brand loyalty

Social media: it’s in the name. Platforms like Facebook, Twitter and Instagram provide an interactive space for businesses and their audience to directly engage. Cus-

Improve customer experience

Daryl HIVELY COMMENTARY tomers can ask questions, leave feedback, and hear your story. These interactions humanize the business and have been shown to increase a consumer’s brand loyalty. If someone likes your page, they’ve done it for a reason. That’s why so many more Americans are more loyal to the brands that they choose to follow on social media.

Biz on the Wire

A bad review can be an amazing opportunity to publicly make an angry customer a happy customer. Demonstrate the business’ customer service skills by responding to all comments, reviews and inquiries (yes, even the bad ones). This is an opportunity to publicly display just how far you are willing to go to make things right for a customer.

Increase engagement

By investing just a few hours in your story each week on social media, a business owner can see a real increase in engagement and following. Take the time to write evergreen content. This content is always relevant and considered “lasting.� Investing a small budget of just $10 a week on a boosted Facebook post can measure huge results. Not

Getty Images/iStock photo

Platforms like Facebook, Twitter and Instagram provide an interactive space for businesses and their audience to directly engage. technologically savvy? Choose a reliable digital marketing agency to tell your story. When business is booming, the idea of adding social media to your daily agenda may

feel exhausting. Try to break it down by creating a social media strategy that you and your team will follow. Find your brand’s story and start telling it!

Business Spotlight

Tips for starting a business with a day job Set realistic targets

By Steve Nicastro | NerdWallet

Seth Wenig/AP file photo

The Federal Trade Commission says Uber deceived customers by failing to secure data on where riders traveled and neglecting to monitor employee access to the information.

Uber settles federal probe over alleged spying on passengers

By Marisa Kendall | The Mercury News SAN FRANCISCO (TNS) — Uber must beef up its privacy protections and submit to 20 years of outside monitoring after failing to safeguard both drivers’ and passengers’ sensitive information, federal regulators said Tuesday. The penalties — announced as part of a settlement the San Francisco-based ride-hailing company reached with the Federal Trade Commission — are in response to a controversial internal platform known as “God view,� which Uber employees allegedly used to track the location of riders. Regulators also fault Uber for a 2014 data breach that exposed driver names, their driver’s license numbers, bank account numbers and Social Security numbers. “Companies must honor their promises about how they’re going to protect consumer information,� FTC Acting Chairman Maureen Ohlhausen told reporters in a conference call Tuesday. “Companies will be held accountable for their promises.� In an emailed statement, an Uber spokeswoman wrote the company is pleased to bring the federal probe to a close. The FTC complaint cites practices dating back to 2014, she pointed out.

“We’ve significantly strengthened our privacy and data security practices since then and will continue to invest heavily in these programs,� the spokeswoman wrote. “In 2015, we hired our first Chief Security Officer and now employ hundreds of trained professionals dedicated to protecting user information. This settlement provides an opportunity to work with the FTC to further verify that our programs protect user privacy and personal information.� Uber will pay no monetary fine. But Ohlhausen said the FTC could impose a fine if the company violates the terms of the settlement. She touted the deal’s requirement that Uber implement a comprehensive “soup to nuts� privacy program, which the company must have reviewed by an outside auditor every two years for 20 years. The FTC accused Uber of misleading drivers and passengers about how it was using and storing their personal information. In 2014, media reports surfaced about “God view,� which showed the real-time locations of Uber riders. Uber employees used the platform to track celebrities, politicians and even exboyfriends and girlfriends, sometimes showing it off to visitors as a parlor trick, The Guardian reported.

It’s tempting to want to put 100 percent of your time and effort into plans to launch a new business from Day One. But jumping in with both feet is far riskier than working the business on the side while you hang onto the income and security of your day job. Here are five tips from entrepreneurs who have successfully started a business while working full time.

Just get started

Fear of failure and becoming overwhelmed are two common roadblocks when starting a business. The key is to do something small every day and build on it, says Diane Melville, founder of Skin Care Ox, a skin care blog. “Even if you’re just figuring out what your domain name is going to be, if that’s all you have time for today, some progress is infinitely better than no progress,� says Melville, who previously worked as a marketing consultant specializing in digital content production. She also advises budding entrepreneurs to find ways to avoid burnout by having fun during the planning stage, since you’ll likely be working nights and weekends to get your business going. “I just tried to change my mentality to make it fun,� Melville says. “I would tell myself, ‘This is my baby and I’m going to build this thing.’ Eventually, you get excited and can’t wait to get back to work on it.�

Build expertise and test the market

As you get going, build knowledge and skills and develop relationships, says Wilma Nachsin, co-founder of Life Working, LLC, a resume and career coaching business. Nachsin, a former human resources director, and Arlene Wanetick, her former coworker and current business partner, learned resume

Getty Images/iStockphoto

Fear of failure and becoming overwhelmed are two common roadblocks when starting a business. Nerdwallet offers five tips to growing a business while working full time. writing, trained as life coaches and signed up clients before they launched the business full time to practice their skills and gather feedback. Nachsin and Wanetick also sought help to set up key systems, such as software to manage customer relationships and invoicing. They continued to work their jobs for 2½ years before quitting to focus on their business. “Slowly but surely, we filled our toolbox up with what we thought we needed to build a successful business,â€? Nachsin says.

Avoid conflicts with your job

If your business is in a field unrelated to your job, you may not need to talk to your boss before starting up. If you think there may be a conflict, check with your human resources department to see if you signed a nondisclosure or noncompete agreement, which prevents you from working for a competitor or against the company.

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The employee handbook where Nachsin and Wanetick worked barred any two employees from going into business together. But their office director agreed to sign a letter giving them permission to start their business. “We promised the highest ethics and standards in keeping our business separate from our day jobs,� Nachsin says. If you need to talk about your new business, restrict those conversations to appropriate times, such as during lunch breaks or outside of work hours, says Pam Farley, founder of Brown Thumb Mama, a home and garden blog. “I didn’t want [colleagues] to come to a project meeting and think, ‘Oh, good heavens, she’s going to go off on a tangent,’� says Farley, who started her blog while working as a marketing writer for a health insurance company. Your boss or coworkers may also be able to share expertise that will help your business grow — or even become its first customers, as was the case with Farley.

Know the right time to leave your job

If you’re generating enough income from your business to cover your living expenses and are feeling unfulfilled by your day job, it may be time to give notice. “For me, it was a combination of having wanted to strike off on my own for a long time, and also not really feeling that challenged,� Pophal says. When you’re ready to take the leap, look at factors such as whether you have other sources of income, emergency savings and health insurance coverage. Steve Nicastro is a staff writer at NerdWallet, a personal finance website. Email: Steven.N@nerd wallet.com. Twitter: @StevenNicastro. This article originally appeared on NerdWallet.

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940 648 3581 x401

kelly.worthington@globalimpressions.com

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9750 Industrial Rd • Justin, TX 76247

DE-1631231-01

Achievable goals will help you stay motivated and encouraged, says Linda Pophal, founder of Strategic Communications, LLC, a marketing consulting and content marketing firm. “I aim for 10 percent to 20 percent more business each year as opposed to 100 percent or 200 percent,� says Pophal, who sets annual sales targets and breaks them down into monthly and weekly goals. Be sure to keep an eye on profitability by including expenses in your targets as well. For example, Pophal works with freelancers and contractors on certain projects, and now tracks costs versus revenue for each project, aiming to keep at least 25 percent of revenue in profits.

Global IMPRESSIONS


AUGUST 2017

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Denton Record-Chronicle

Enterprising Voices

Tips for recruiting and maintaining millennial talent H

aving worked in university career services for more than a decade and with college students in various capacities for much longer, I’ve interacted with older millennials, younger millennials, and everything in between. Millennials are generally defined as those born between 1980 and 2000. For me and my fellow Generation X colleagues, as well as our Baby Boomer teammates, many of the people we consider when hiring for entry-level jobs — and who we work with currently and might classify as “young professionals” — are millennials. When prepping for this article, a Google search for “How to Recruit and Retain Millennial Talent” resulted in almost 450,000 results. Most of the results focus on the same few tips related to things like flexibility, professional development, feedback and technology. I also did some addi-

Lisa GARZA COMMENTARY tional research and reached out to my own personal network. I found that the things millennials say they are looking for and value in a job are similar to the things other generations would say they also value. In addition to having a job that pays the bills, most people, regardless of generation, want to make a contribution at work and know their work is valued. Most people want to have time available to pursue interests

outside of work. Most people want to work for an organization with a mission they can believe in. Before sharing my list of tips, I think it’s important to provide a quick reality check to any employers out there. Recruiting is the easy part, with the right outreach plan and available budget. It’s the retaining part that’s hard. Many of us in the “over 40” crowd need to redefine what we mean by retain. I’ve learned to accept that if I hire a new professional, train them and have them provide top-notch service for two years, that’s a win. Especially if they move on to bigger and better things. Ideally, those bigger and better things will be within my organization, but in reality, that depends on things like budget and head count. If you are really looking to retain your millennials, here are some quick tips, along with some tidbits of what not to do. But remember — everyone

is unique and a one-size-fits-all approach usually doesn’t work. Listen to them and respond appropriately. Don’t ever say “this is how we’ve always done it.” Don’t be put off by them asking “why?”, because they are going to. If you don’t have an answer, then maybe it’s time to reconsider your reasoning. They may have your next best new idea — but you have to be open to it. Find something to appreciate about them. Something real. A millennial contact shared that she worked in a firm with a couple of partners who were “in their early forties.” She shared that they would occasionally thank her just for showing up to work — like a participation award. In her words, it made her feel very underestimated. Mentor and coach them. Share information about your own path. Be candid . Most millennials I’ve encountered really seem to appreci-

ate hearing about our challenges, how we overcame them and about how we made our own career decisions. Trust is extremely important and they can know when you’re not being authentic. They crave transparency and it starts with you. Provide them with opportunities for professional development. If your staff members leave because they are awesome and getting promoted (in your organization or elsewhere), that’s a wonderful reflection of you! Invest in them and they will invest in you — until it’s time to move on. One millennial I surveyed confessed leaving a previous position because she was being held back professionally. Don’t make that mistake! Lisa Garza is the Director of the Career Connections Center at Texas Woman’s University and can be reached at lgarza10@twu.edu.

Biz on the Wire

Gates makes $5 billion donation to foundation By Tom Metcalf | Bloomberg

Bill Gates made his largest single gift since the turn of the century, giving away Microsoft shares that accounted for 5 percent of his fortune, the world’s biggest. The billionaire donated 64 million of the software maker’s shares to the Bill & Melinda Gates Foundation on June 6, according to Securities and Exchange Commission filings released Monday. The shares were valued at $4.6 billion at the time. It’s the largest gift of Microsoft shares that Gates, 61, has made since 2000. He

Food giants vie for stevia By Innocent Anguyo, Agnieszka De Sousa and Corinne Gretler | Bloomberg Over the past decade, a little-known herb 200 times sweeter than sugar has become a $4 billion global industry, showing up in everything from Coca Cola sodas to Heinz ketchup. Not a bad start for a product that many people still think has a bitter aftertaste. The stevia plant, which can be processed into a zero-calorie sweetener, has taken off as a sugar alternative. Consumption tripled from 2011 through 2016, according to data from researcher Euromonitor International. While it’s still a small part of sweetener sales, companies such as Cargill Inc. and ED&F Man Holdings Ltd. are investing more — including to improve the taste. “This is a market that has huge growth potential,” said Jonathan Hugh, head of the agri-industrial division at London-based commodity trader ED&F Man, which has a stake in the stevia-based Unavoo Sweetener. “We see a lot of investment opportunities.” Finding a low-calorie sugar substitute that doesn’t alter the taste of iconic brands has been a longtime quest in the food industry, especially with a global obesity epidemic and rising rates of diabetes. Over the years, that’s led to artificial man-made sweeteners such as aspartame, sucralose and xylitol. But many consumers report unpleasant side effects from those products, or they worry about ingesting chemical additives. Stevia has almost no calories and a glycemic index of zero.

gave away $16 billion worth of the stock in 1999 and $5.1 billion a year later, according to calculations by Bloomberg. “It’s a change in how he distributes that asset,” said Ben Silverman, research director at InsiderScore, noting that Gates has been reducing his stake methodically for years through share sales to fund his foundation. Spokesmen for Gates and Redmond, Washington-based Microsoft didn’t respond to requests for comment. Bill and Melinda Gates have given away about $35 billion of stock and cash since 1994, based on the value of the shares

at the time of gifts, according to a review of Gates Foundation tax returns, annual reports and regulatory filings. Gates created the Giving Pledge in 2010 with billionaire investor Warren Buffett, and they have been joined by 168 others who promised to give the majority of their wealth to charity. Gates probably has directed more than 700 million shares of Microsoft into the foundation, adjusting for stock splits, and he would be about $50 billion richer today had he kept them. The June gift represents 38 percent of his holding in the company and is the latest in a long line of Microsoft share

disposals that have whittled his stake from 24 percent in 1996 to 1.3 percent now. Gates remains the richest person on earth after the donation with a fortune the Bloomberg Billionaires Index valued at $86 billion as of 10:40 a.m. Tuesday in New York. His donation once again puts Amazon.com founder Jeff Bezos close to the top spot, with a net worth of $84.5 billion. Bezos, 53, whose fortune has surged 30 percent since Jan. 1, briefly leapfrogged Gates last month to become the world’s richest person on an intraday basis.

Matthias Schrader/AP file photo

Microsoft founder Bill Gates donated 64 million of the software maker’s shares to the Bill & Melinda Gates Foundation on June 6, according to Securities and Exchange Commission filings released Monday.


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Denton Record-Chronicle

Vital Statistics

Cartwright’s Cafe, LLC, 1020 Dallas Drive, Denton JJMackey Electric, Inc., 1251 Teasley Lane, Denton Spec’s Wine, Spirits & Finer Foods, Spec’s Liquor, 2315 Colorado Boulevard, Denton The Cleaning Authority, 717 S. Interstate 35E, Suite 124, Denton

SALES TAX

76207

The following sales permits were issued by the state comptroller’s office from July 18 to Aug. 8. The list includes the owner, name of business and address within zipcodes 75068, 76201, 76205, 76207, 76208, 76209, 76210, 76226, 76227, 76247, 76249, 76258, 76259, 76266.

75068 Johnny Joe’s, 1020 W. El Dorado Parkway, Little Elm Little Things by Linda, 202 Muleta Drive, Oak Point RR Photography, 1031 Waterview Drive, Little Elm Ruchulu Kitchen, 800 W. El Dorado Parkway, Suite 127, Little Elm Stacey Sansom Designs, 1417 Freesia Drive, Little Elm Angels’ Bridal Alteration, 628 Cypress Hill Drive, Little Elm Donut Bliss, 11851 FM 423, Suite 400, Little Elm Native Lane Co., 1013 Rose Garden Drive, Liddle Elm Once Upon a Dream Boutique, 348 Hardwicke Lane, Little Elm Drone It Network, 701 Stowe Lane, Lakewood Village Drone It Texas, 701 Stowe Lane, Lakewood Village Environ Partners LLC, 2449 Lakebend Drive, Little Elm Itinerary Productions, LLC, 1924 Grand Fir Drive, Little Elm Robin Barber Accessories, 2593 Still Springs Drive, Little Elm 76201 Brittany Hale, 1908 Cordell Street, Denton J’s Cheaper Cigarettes, 834 W. University Drive, Denton Mean Green Central Grill, 1005 Avenue C, Denton Snow Fow, 2645 W. University Drive, Denton Aspen Builders, 624 W. University Drive, Suite 217,

BC

Denton Denton County Historical Foundation, 110 W. Hickory Street, Denton Kiwi Moon, 916 S. Locust Street, Denton Sweet Treasures Photography, 1410 N. Elm Street, Suite 102, Denton Ambros Tacos y Mas, 208 E. McKinney Street, Suite A, Denton Denton High School Baseball Booster Club, 1007 Fulton Street, Denton KIS Customs, LLC, 2101 W. University Drive, Denton Pieces, 118 E. McKinney Street, Denton Downtown Mini Mall, 108 N. Locust Street, Denton Texas Turquoise, 221 W. Oak Street, Denton 76205 Art of the Pet, LLC, 1400 Gatewood Drive, Denton Hibachi Express, 1025 Dallas Drive, Denton Lather & Company, 2201 S. Interstate 35E, Denton Swisher Conscience, 1030 Dallas Drive, Apt. 1416, Denton Swisher Designs, 1030 Dallas Drive, Apt. 1416, Denton Bernard Quick Track, 1724 Bernard Street, Denton Five Guys Burgers and Fries #1184, 1715 S. Loop 288, Suite 110, Denton Lonestar Fence & Supply LLC, 2200 N. Interstate 35E, Denton Carolyn Diane Perdue, 2315 Colorado Boulevard, Denton

Skyelight Coffee Company, 2321 N. Masch Branch Road, Suite 304, Denton Loves Truck Solutions, LLC 609, 6421 N. Interstate 35, Denton Brisket Burger, 4005 N. Interstate 35, Denton Exlocality LLC, 3316 Brooke Street, Denton Haltom Aircraft Services, 4650 Clear Star Suite 101, Denton 76208 Cafe Jo’lei, 1500 N. Corinth Street, Corinth Dareingarms, LLC, 5101 E. University Drive, Sute 400, Denton 1987, 3509 San Lucas Lane, Denton All in One, 4200 E. University Drive, Denton Classy Closet, 3808 Camino Real Trail, Denton Curly’s French Bulldogs, 3654 Corinth Parkway, Corinth Garginization, 621 S. Mayhill Road, Suite 105, Denton Maintaining the Common Ground, 621 S. Mayhill Roard, Suite 103, Denton Meat Paws Studio, 2900 Spencer Road, Denton Shady Shores Elementary Parent Teacher Association, 300 Dobbs Road, Shady Shores Jovialty Designs, 6303 W. Shady Shores Road, Denton MJA Creations, 203 Redbud Trial, Shady Shores 76209 B&L Small Engine, LLC, 3822 Market Street, Suite 102, Denton Las Lomas Taqueria, 2400 E. University Drive, Suite 101, Denton Miracle Soul Spice Co., 403 N. Loop 288, Apt. 7210, Denton

LIENS

The following liens for Denton businesses and residents were posted in July at the Denton County Clerk’s office.

STATE TAX LIENS

NAME/ADDRESS Floyd Smith Concrete, P.O. Box 1781 Good Smokes, LLC, 722 Fort Worth Drive SFD Entertainment, LLC, 508 S. Elm Street, Suite 101

TYPE Limited sales excise and use tax Limited sales excise and use tax Mixed beverage gross receipts tax

FEDERAL TAX LIENS

TYPE NAME/ADDRESS Michael & Donna Avery, 2204 Shenandoah 1040 Trail Jerry Jane Niblett, 1505 Highland Park Road 1040 Decarlo & Shawn Noble, 3400 Mustang 1040 Drive Pedro M. Cardenas & Ana P. Torres, 2000 1040 Lake Fork Circle Jennie L. Johnson, 315 Fry Street, 1040 Apartment 6 Jerry Cobb Attorney at Law, 121 W. Hickory 1120, 941 Street Lourdes P. Rosencrans, 2055 Berry Down 1040 Lane, Apt. 11108 Johnny L. McBride, 2601 S. Mayhill Road, 1040 Trailer 199 Jignesh P. & Dinal Patel, 601 North 1040 Interstate 35E Patrick D. & Kimberly D. Fagan, 910 Morse 1040 Street Matthew D. Gordon, 558 Jay Street 1040

AMOUNT $21,177.30 $1,341.38 $3,873.48

REC. DATE 7/19/17 7/19/17 7/26/17

AMOUNT $5,133.70

REC. DATE 7/10/17

$18,156.88 $114,209.34

7/10/17 7/10/17

$5,941.18

7/12/17

$16,230.90

7/18/17

$15,229.31

7/20/17

$11,955.21

7/20/17

$122,176.71

7/25/17

$3,434.60

7/25/17

$10,944.78

7/25/17

$7,802.16

7/26/17

Biz on the Wire

Photos by Cooper Neill/Bloomberg

Rob Storey holds a glove July 27 made for the Texas Rangers at the Nokona manufacturing facility in Nocona, Texas.

AUGUST 2017

Social Revelation, 3210 Hummingbird Lane, Denton Denton BMC, 2019 N. Locust Street, Denton Celeste and Company, 500 Hallum Drive, Denton Cleanpro Janitorial Services, LLC, 611 Wolftrap Drive, Denton DotDotSmile with Sara White, 1610 E. McKinney Street, Denton Kerkuil Capital, LLC, 1117 Chevelly Court, Denton The Meltdown, 2915 Wilsonwood Drive, Denton The Pickled Carrot, 2915 Wilsonwood Drive, Denton 76210 Graffixonthe.net, 2053 Fair Oaks Circle, Corinth LP Goods, 1224 Springcreek Drive, Denton Simply Wired!, 2801 Yukon Drive, Corinth The Liquor Outpost, 3969 Teasley Lane, Suite 100, Denton TJA Multi Services, 3150 Garrison Road, Apt. 1611, Corinth Brannon’s, 2919 Custer Drive, Corinth Anytime Fitness, 5050 Teasley Lane, Denton Made in the Shade Blinds North DFW, 4251 FM 2181, Suite 230-124, Corinth Pet Supermarket #331, 4940 Teasley Lane, Denton City Doll, 3109 Palos Verdes Drive, Denton Gunn Collision Centers Denton, 5650 S. Interstate 35E, Corinth Matthew Steienr, 7704 Waterside Place, Denton Merlin Automation, Inc., 2006 Ledgestone Drive Not Afraid, 3109 Palos Verde Drive, Denton Click Pursuit, 3508 Meadowview Drive, Corinth Pinky Bolle, 7801 S. Interstate 35E, Corinth Sign Like Me, 8412 Clear River Lane, Denton Superior Facilities Solutions, 2226 Post Oak Drive, Corinth 76226 CBK Interiors, 1409 9th Street, Argyle Olivia’s Boutique, 2724 Britt Drive, Argyle Gypsy Caravan, 512 Highway 377 N, Argyle JKS Electric, Inc., 751 Badminton Drive, Bartonville Texas Designer Palms, 2650 FM 407 East, Suite

swung last year’s election for Trump. “For 30 years, this country all but neglected any serious challenge to a globalist view of sourcing,” Muro said. Nokona refused to follow the herd. After the Civil War, ranchers drove longhorn cattle through Montague County to livestock markets in the north. The town of Nocona, about 100 miles northwest of Dallas and named after a Comanche chief (hence the Native American logo on Nokona gloves), developed a reputation as a leather-goods hub.

BMS Group TC, LLC, 845 Fielnd Crossing, Little Elm Outdoor Wooden Furniture by Stan, 109 Bent Oak Drive, Krugerville Valor Plumbing, Inc., 6286 Oak Hill Lane, Aubrey B3 Concealment LLC, 2024 Bridgeport Drive, Providence Village Ella + Lanie, 1309 Canvasback, Aubrey Hot Lox Studio and Spa, 26735 U.S. Highway 380 East, Suite 111, Little Elm Michelle Bridger, LLC, 2015 Rodgers Lane, Providence Village Pro Audio/Audio Clarity Inc., 600 N. Cherry Street, Aubrey R&C Arbor & Fence, 11701 US Highway 380, Cross Roads Beauty Herbs & Wellness, 5315 US Highway 377 South, Suite 2B, Krugerville Fishtrap Storage, 10550 Fishtrap Road, Aubrey Got Fired Bar-B-Q, LLC, 6627 McNatt Road, Aubrey Graham’s Custom Creations, 8909 Chisholm Trail, Cross Roads Moonlight Ranch Winery, 11556 FM 428, Aubrey Rachel Hathway, 1148 Hayden Lane, Savannah FinishedWithLove, 1228 Hayden Lane, Savannah KnoxStreet, 916 Partridge Drive, Aubrey Rhodes Way Home Investments, 9212 Benevolent Court, Providence Village 76247

76249 Gateway Demolition, LLC, 5102 Meadow Lane, Krum 3411MX, LLC, 5681 Barnett Road, Krum Dino Fireworks, 800 East McCart Street, Krum Jaime Muniz, 1641 Totem Pole Way, Krum Tamara Jonas, 7703 FM 1173, Krum 76258 Farmhouse Furnishings, 16330 Fritcher Road, Pilot Point K and K Enterprises, 10542 Merrill Road, Pilot Point Aspen Builders, 12914 FM 455 East, Pilot Point Lake Pointe Paddle, LLC, 100 PW 4137, Pilot Point CJ’s Cleaning Service, 10293 FM 2931, Pilot Point First Class Grooming, 100 N. Highway 377, Suite 106, Pilot Point 76259 The Nest at Ruth Farms, 3930 Bud Williams Road, Ponder 76266 Classic Fiberglass, LLC, 180 Chapman Drive, Sanger Chaos and Charm, 4060 Lois Road West, Sanger Healing Thyme Botanicals, 303 South 2nd Street, Sanger Silver Fox Machine LLC, 306 Acker Street, Suite B, Sanger Mother Tucker Soaps, 7160 Michael Road, Sanger

BUILDING PERMITS

CERTIFICATES OF OCCUPATION Drini Group LLC, 600 Texas Street, Building 1 Rock N’ Ice House, 2215 S Loop 288, Suite 310 Maintaining The Common Ground, 621 S Mayhill Road, Suite 103 Las Lomas Taqueria, 2400 E University Drive COMMERCIAL ALTERATION Tommy’s High Tech Auto, 606 Lindsey Street The Bearded Monk, 122 E McKinney Street Chris Mierke, 1800 S Loop 288, Suite 240 Denton County Friends of the Family, 920 Dallas Drive, Suites 106/108 St. Paul Lutheran Church, 703 N Elm Street Tina Doan, 1800 S Loop 288, Suite 205 Walmart #4627, 2750 University Drive Texas Heatlh Presbyterian Hospital Denton, 2601 Scripture Street Denton Calvary Academy, 1910 E University Drive Express Care Denton, 2001 Denison Street Unnamed, 940 N Masch Branch Road Denton ISD, 1303 N Elm Street Buc-ee’s #39 Store and Car Wash, 2800 S I 35E Peterbilt Motors, 3200 Airport Road Rock and Roll Sushi, 321 W Hickory Street, Suite 100 North Texas State Fair and Rodeo, 2217 N Carroll Boulevard Parks of Denton, 1610 E McKinney Street, Building 2-20 Unnamed, 830 S I 35E Unnamed, 1550 N Western Boulevard Unnamed, 1720 W University Drive Unnamed, 1811 Shady Oaks Drive Tires For Less, 821 E McKinney Street RESIDENTIAL DR Horton 2105 Skysail Lane 2113 Skysail Lane 3905 Crosstrees Drive 3913 Crosstrees Drive 3917 Crosstrees Drive 4005 Crosstrees Drive 4009 Crosstrees Drive 4021 Crosstrees Drive 4112 Ranchman Boulevard

2116 Skysail Lane 325 Cypress Creek Lane 324 Red Fox Lane 324 Cypress Creek Lane 316 Cypress Creek Lane 312 Red Fox Lane 304 Red Fox Lane 301 Cypress Creek Lane 317 Cypress Creek Lane 4200 Stonetrail Drive 329 Cypress Creek Lane 328 Cypress Creek Lane 4013 Ranchman Boulevard 225 Red Fox Lane 221 Red Fox Lane 217 Red Fox Lane 216 Red Fox Lane 100 Red Fox Lane 204 Red Fox Lane 200 Red Fox Lane 104 Red Fox Lane 4001 Ranchman Boulevard 305 Lemon Mint Lane 305 Red Fox Lane 321 Sky Meadow Lane 4009 Ranchman Boulevard 300 Doe Creek Trail Audra Oaks Home Builders, 2708 Beverly Drive SGC Homes LLC, 4800 Crossvine Mike Mollo Custom Homes, 3937 Maggies Meadow Dunhill Homes DFW, LLC 5708 Dolores Place 3712 Juniperio Street 5712 Dolores Place 3817 Monte Verde Way 3805 Monte Verde Way 3801 Monte Verde Way 3813 Monte Verde Way 3813 Harbour Mist Trail 3813 Juniperio Street

An employee uses a press to cut leather for ball gloves at the Nokona manufacturing facility in Nocona on July 27.

An employee shapes a ball glove on hot steel fingers July 27 at the Nokona manufacturing facility in Nocona, Texas. Trump’s message also represents a break from the globalization gospel preached by his predecessors as they pushed for trade deals that would bring emerging giants such as China into the capitalist fold. Offshoring production was seen as acceptable, because it would make American economies more competitive. That, added to cheap imports, would leave the U.S. economy better off. Economists are waking up to the limits of that logic. Voters have been awake for a while — especially in the Rust Belt towns, hollowed out by industrial decline, which

76227

Wrightsport Services, LLC, 15867 Guy James Road, Justin 31Three Design and Metalwork, 904 Valley Circle, Justin Keith’s Collisision Center, 15520 Highway 114, Justin Northwest Texans Athletic Booster Club, 1937 Texan Drive, Fort Worth Five N Drive Auto Sales, 9717 Industrial Road, Suite A, Justin KJ Rustic Texas, 208 W. 7th Street, Justin Verdant and Blooming, 12114 Buttercup Lane, Justin

The following building permits were issued by the Denton Planning and Development department in August. Commercial alterations and commercial permits reflect the owner or tenant and the address of the business. Residential permits include the address of the home.

GLOVE | CONTINUED FROM PAGE 1

staged a week of events to celebrate U.S. manufacturing, showcasing products from Campbell’s soup to Caterpillar construction gear. July 17 was declared “Made in America Day.” “Restoring American manufacturing will not only restore our wealth, it will restore our pride,” Trump said. The president loves to use his bully pulpit to advance the cause, but it doesn’t always work. Trump threatened Ford over its plan to shift assembly of Focus cars to Mexico — and so the automaker moved operations to China instead. Plus, modern factories rely more on automation than ever, so even if production comes back, it might be done by robots. There’s nostalgia — critics would call it fantasy — in Trump’s rhetoric. He harkens to a time when the U.S. was the world’s biggest manufacturer, and Fords rolled off the assembly line into the driveways of upwardly mobile households. By now, “supply chains have been so heavily outsourced that it’s no longer possible to buy American for some products,” said Mark Muro, a senior fellow at the Brookings Institution in Washington who studies advances in manufacturing. “The suppliers don’t exist. In some instances it’s too little, too late.”

145-106, Bartonville Treenewal, LLC, 1712 FM 407 East, Argyle Avenue 22:6, LLC, 320 Ellison Trace, Argyle Blooming Soaps, 9000 Athens Drive, Denton Stacyleigh Boutique, 9332 Amistad Lane, Denton Argyle Landscapes, Inc., 804 Pioneer Circle East, Argyle At the Table, 516 Skyridge Drive, Argyle Bryant Vending Co., 5970 FM 1830, Argyle Dorney Designs, LLC, 11018 Longleaf Lane, Flower Mount Lone Star Food Store #79, 1842 FM 407 East, Bartonville

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The company’s name is spelled with a “k” because the company was told in the 1930s that the town’s name couldn’t be trademarked. Today, Nocona is home to about 3,000 people and a few stoplights. “God Bless America” banners line the street, and locals wish you a “blessed day.” Founded in 1926, the company originally made wallets and purses. It was a former Rice University baseball player named Roberts Storey who steered Nokona into ballgloves. In the early days of baseball, it was considered un-

manly to use a glove. Broken bones were common. The first mass-produced gloves had little padding and no fingers. In the 1920s and ’30s, companies started producing gloves with a web between the thumb and forefinger, to create a pocket. The shift to Asia in the 1960s nearly put Nokona out of business. Storey wouldn’t budge. “It hit him all wrong that we would have to go to Japan,” said his grandson Rob Storey, the company’s executive vice president. “One of his favorite sayings was: ‘If I have to tell my employees we’re closing up and they don’t have jobs anymore, I may as well get a bucket of worms and go fishing.’” It hasn’t been an easy faith to keep. The company went bankrupt in 2010 but continued producing after a Phoenix-based maker of football gloves bought a majority stake. And cracks are starting to show in Nokona’s claim to be all-American. It recently started importing partially assembled gloves from China made of Kip leather, a luxury cowhide. Still, 98 percent of its gloves are made at the factory in Nocona. The nutty scent of leather fills the place. In the lobby, samples of the company’s work over the decades are displayed on the wall, from wallets to football pads. When you buy a glove, the cashier Helen — who’s worked there for 55 years — writes out a

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receipt by hand. Making a glove involves about 40 steps and can take four hours. Hides, mostly from Chicago or Milwaukee, are tested for temper and thickness. Workers lower presses onto metal dies to cut the leather. The pieces — some models require 25 of them — are sewn together, joining the inner and outer halves. The product is turned right-side-out and shaped on hot steel fingers. A grease used during World War II to clean rifles is lathered under the pocket, to keep it flexible. The company emphasizes the craft that goes into each glove, and that’s reflected in the bill. Rawlings has gloves for all budgets: Its top-end models cost plenty, but you can get a 9-inch children’s version for less than $8. Nokona’s equivalent-sized mitt costs $220, and its pro model runs to $500. Like many made-in-America holdouts, they’re always going to be niche products. Making them isn’t going to generate jobs on the scale Trump wants. Nokona ships about 40,000 gloves a year, a fraction of the 6.2 million sold annually in the U.S. It employs about 35 people at the Texas plant. Storey won’t disclose the privately held company’s revenue. “Will we ever be Nike? No.” But he says it’s profitable. Trump got 88 percent of votes in the county and Storey counts himself a supporter. He welcomes White House support for domestic manufacturers: “It’s music to our ears.” It’s also hard to compete with the big brands — Rawlings, Wilson, Mizuno — for Major League endorsements. Some companies pay players to use their gloves. Nokona has one superstar admirer: Texan legend and Hall of Famer Nolan Ryan, whose first glove was a Nokona, and who’s appeared in the company’s ads. But it has only about a dozen current top-level players signed up. Up against so many odds, why doesn’t Nokona give in and go offshore? “Because I’m crazy,” Storey said. “This is all I know how to do.”


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AUGUST 2017

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BC

Denton Record-Chronicle

CHAMBER SPOTLIGHT #DentonMeansBusiness UPCOMING EVENTS September 12th 4 - 6 p.m. TEX TAPAS 109 Industrial St. appetizers & happy hour drinks

RIBBON CUTTINGS Bone Daddy’s Re-Opening August 10, 2017

Applejacks

August 25, 2017

DISD NEW EMPLOYEE RECEPTION

August 3, 2017

DENTON CHAMBER OF COMMERCE BOARD OFFICERS Jim Fykes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Chair of the Board Erik Clark . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Chair-Elect of the Board Glenn Carlton . . . . . . . . . . . . . . . . . . . . . . . . . .Immediate Past Chair of the Board Mark Burroughs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Vice Chair of the Board Monica Glenn . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Vice Chair of the Board Amanda Oringderff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Vice Chair of the Board Rick Wick . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Vice Chair of the Board Carrell Ann Simmons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Treasurer DIRECTORS Lee Allison • Layne Brewer • Roy Culberson Russ Ellis • Joey Hawkins • Gary Henderson • Michelle Houston Jill Jester • Tom McCoy • Hector Mendoza • Amy O’Keefe Ellen Painter • Lee Ramsey • Pat Sherman EX OFFICIO DIRECTORS Hugh Coleman. . . . . . . . . . . . . . . . . . . . . . .Denton County Commissioner, Pct. 1 Carine M. Feyten, Ph.D. . . Chancellor & President, Texas Woman’s University Kerry Goree . . . . . . . . . . . . . . . . . . . . . . . . .Denton Black Chamber of Commerce Mary Horn . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Denton County Judge Bob Moses . . . . . . . . . . . . . . . . . . . . . . . . . . . .Chair, Convention & Visitors Bureau Larry Parker . . . . . . . . . . . . . . . . . . . Economic Development Partnership Board Marty Rivers . . . . . . . . . . . . . . . . . . .Economic Development Partnership Board Neal Smatresk, Ph.D. . . . . . . . . . . . . . . . . . .President, University of North Texas Charles Stafford . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Denton ISD Board of Trustees Chris Watts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Mayor, City of Denton

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