DENTON
September 2018
Business
CHRONICLE
www.dentonbusinesschronicle.com
Breaking into business New operation lets locals smash their frustrations By Jenna Duncan Crowbar, hockey stick, sledgehammer, baseball bat or golf club? As customers enter The Breakroom, they pick up the tool they want to use to obliterate anything in their sight: old television sets, office furniture, beat-up cars. As ax-throwing bars and “rage rooms” open across the country, four University of North Texas graduates have opened the first such business in Denton at 719 Wainwright St. They collect old stuff that people don’t want, and customers get to destroy it in the warehouse. One of the owners, West White, first went to a rage room a few years ago with his wife, and has loved the concept ever since. Immediately, he thought the concept would work in Denton. “Other than going to the movies or hitting up a bar or a restaurant, there’s not a lot of unique experiences around like this,” White said. “It’s something else to do and a unique concept, and we thought Denton was the perfect place for it.” Customers pick how long they want to be in The Breakroom for, from five to 20 minutes. A five-minute session costs $20 per person, while 20 is $60. Up to six people can be in the room at the same time. BREAKROOM | CONTINUED ON PAGE 4
Jeff Woo
Kevin Dobson, left, and West White are two of the co-owners of The Breakroom, where customers pay to smash everything from small electronics to cars.
Why gender parity matters on the board
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By Jenna Duncan | Staff Writer After a year in the coffee roasting business, Lemma Coffee Roasters now has a coffee truck. The truck’s new location is Backyard on Bell, 410 N. Bell Ave. Check www.lemma coffeeroasters.com to confirm hours and location. Noon Mediterranean closed its Denton restaurant last month, along with six other locations, after the Austin-based fast-casual chain filed for bankruptcy. Located on South Loop 288 near Target, the restaurant first opened as Verts Mediterranean Grill before rebranding in November. Everyday Nectar, a juice bar that opened in 2015 on North Locust Street, closed at the end of August. The business broke the news to its fans on Facebook on Aug. 28. Get ready for more climbing.
Summit Climbing Gym is expanding in downtown Denton. It’s expanding into the space that formerly housed The LABB, which shut down last year. With the addition, there will be more climbing space, yoga and fitness space at the Denton location. Longtime favorite bar and tavern Sweetwater is coming back, snake painting and all. Agua Dulce, the latest restaurant in the space at 115 S. Elm St. closed recently, and was sold back to the original family that owned Sweetwater Grill & Tavern. No word on an official opening date, but a Facebook page for the business says we can expect them back this fall. Salted Sanctuary Soap is open at 525 N. Elm St. The longtime soap maker has been at the Denton Community Market since 2012, and DUNCAN | CONTINUED ON PAGE 4
n recent years, the number of female leaders in business, technology and health care has risen exponentially, with women taking over top spots in senior management. What is surprising, however, is that women represent only 16 percent of the board positions of the 3,000 largest companies in the United States. More troubling, at least 620 of those companies have no women serving as board directors. This month, California moved the needle on corporate board gender diversity after its state Legislature passed a bill that requires every publicly held corporation in the state to have at least one woman on its board of directors by the end of 2019. By the end of July 2021, boards with five members would have to have at least two women, and boards with six or more members would be required to have at least three. The bill awaits Gov. Jerry Brown’s signature. If it becomes law, California would be the first state in the country with those requirements. So, why does gender parity matter on corporate boards? A look at the benefits to the bottom line tells part of the story. According to Catalyst, a research nonprofit dedicated to advancing women into workforce leadership positions, companies achieve higher financial performance with more women on their boards. In a report that examined the rates of returns for companies with higher representation of female
Shannon MANTARO | COMMENTARY
board directors, Catalyst found that compared with those with fewer women on their boards, these companies realized a 53 percent rate of return on equity, 42 percent on sales and 66 percent on invested capital. In a similar analysis, global research company MSCI found that, over a five-year period, companies that began with at least three women on the board experienced median gains in return on equity of 10 percentage points and earnings per share of 37 percent. Companies that had no female directors experienced median changes of minus-1 percentage point in return on equity and minus-8 percent in earnings per share. And it’s not just the financial picture that could improve for companies with a gender-diverse board. Consider these points: ■ Power in numbers: Diversity on a board can shift company culture and support increased diversity in gender, race and thought;
Over a five-year period, companies that began with at least three women on the board experienced median gains in return on equity of 10 percentage points and earnings per share of 37 percent. ■ Innovation and problem solving: A more diverse board can bring different knowledge and experience to company problems; ■ Corporate responsibility: Companies may be seen in a more positive light if they have a board that represents more than one sector of a community; and ■ Sustainability: According to a University of California study, the number of women on a corporate board can improve sustainability practices and reduce the impact of company operations within a community. Though not everyone may agree with a government-mandated requirement of this kind, it is important that we continue a dialogue of inclusiveness that not only has the potential to MANTARO | CONTINUED ON PAGE 2
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