UTAH’S BUSINESS JOURNAL www.slenterprise.com
THIS WEEK RV parts distributor to expand into 20,000 square feet See page 3.
Woodbury to construct office, lab in SLC's Research Park See page 3.
• Industry Briefs • Begin on page 5.
Dec. 19-25, 2011
SLC insurance wholesaler sold to Arthur J. Gallagher By Barbara Rattle The Enterprise Transwestern General Agency Inc., a Salt Lake City insurance wholesaler that has been in business since 1954, has been sold to Arthur J. Gallagher & Co., an Itasca, Ill.-based firm that is one of the world’s largest insurance broker and risk management services companies. The Utah company will retain its location at 440 S. 500 E. and all of its 30-plus employees, and is now known as RPS Transwestern, said Jeffrey Burgener, whose grandfather founded the company. Burgener now serves as area president. “It was just time for us to elevate the organization,” Burgener said of the sale, which sees
$1.44
Volume 41, Number 21
Transwestern joining Gallagher’s RPS (risk placement services) group. “They’re the fastest-growing general agency network in the United States right now. We’ll get more referral business from other RPS offices and in the future we’ll be getting into more markets. It’s a whole new step to the next level for us.” Transwestern provides independent insurance agents with excess and surplus, property/casualty, professional business liability and other specialty insurance products and services in eight regional states. The firm specializes in insurance coverage for
Small businesses rank wealth before health for 2012
DesignMatters Matters Legal Despite a year filled with economic instability, a majority of small-business owners (72 percent) say 2011 was a successful year for their company — and new data shows new business activity saw a boost, too. According to the latest Manta SMB Wellness Index, new business activity was up more than 12 percent in the third quarter of 2011 compared to the same time last year. The Manta SMB Wellness Index is a quarterly index on the state of small business released by Manta, the largest online community dedicated entirely to small business. The index examines nationwide data
collected from multiple business resources and takes a “pulse” of small-business owners on hot topics. Manta’s latest survey polled more than 1,000 small-business owners about their feelings on the 2011 small business landscape, predictions for 2012 and how their business is impacting their personal well being. The Manta SMB Wellness Index shows that while new business activity is up year over year, September saw the steepest decline in activity in the 18 months. Moreover, there’s been about a 12.5 percent decrease in
Executive Lifestyle Executive Lifestyle Legal Matters see INSURANCE page 2
Avenues Bakery co-owner to launch new neighborhood bistro Executive Lifestyle Begins on page 10.
Legal Matters Legal Matters Matters Legal
see MANTA page 2
Salt Lake's RDA to buy former Deseret Industries building
StaffingMatters Matters Legal Kathie Chadbourne stands in front of the historic future site of Avenues Bistro on Third at 564 E. Third Ave. By Barbara Rattle The Enterprise A former co-owner of Avenues Bakery, a popular eating establishment shuttered roughly five years ago due to high rent, is in the process of launching a new venture, Avenues Bistro on Third, at 564 E. Third Ave., Salt Lake City. Kathie Chadbourne said
she is “going for the dream” and plans to open in January. The neighborhood bistro will have 22 dining room seats and 16 counter seats in addition to patio dining during clement weather. Serving brunch and dinner seven days a week, probably from 10 a.m. to 10 a.m., Avenues Bistro on Third will feature menu items
The Redevelopment Agency of Salt Lake City will purchase the former Deseret Industries building in Sugar House for $1.16 million from The Church of Jesus Christ of Latter-day Saints. Agency executive director D.J. Baxter said the building, located at 2234 S. Highland Dr., “could be very important to a couple of different development scenarios in Sugar House; one of those is the streetcar.” The streetcar project is a high priority for Salt Lake City, South Salt Lake and the Utah Transit Authority, which collaborated on grant applications for federal funding and were successful
in obtaining $26 million in for the project, through the Federal Department of Transportation, in October of last year. As envisioned, the street car would run between and existing UTA right-of-way at approximately 2230 South between the Central Pointe TRAX station eastward toward an area between the Fairmont Aquatic Center and a former Granite Furniture freight rail corridor terminus. “But we have a lot of interest from the business community in having the streetcar continue beyond that point, at least to Highland Drive and maybe even beyond,” Baxter said. “So we’re
Real Estate Matters Legal Matters see BISTRO page 2
see RDA page 2
2
Dec. 19-25, 2011
The Enterprise
BISTRO from page one
such as artichokes filled with scrambled eggs and topped with black truffle, Basque-style tortillas with sardines, praline french toast made with challa bread, an egg, bacon, lettuce and tomato sandwich, plus shrimp, steak, lamb and wild salmon. Many of the bistro’s menu items will be served tapas style, on small plates. The eatery has a full liquor license. Everything will be house-made. Chadbourne’s chef is Miguel Rivas, who has practiced culinary arts in San Francisco. A major emphasis will be placed on buying local, and the bistro will have its own herb and vegetable garden chickens, Chadbourne said. “Our space is absolutely fabulous,” she said. “The building is over 100 years old. We have an open kitchen, everything is open. There is a chef’s counter with turn-of-the century Currier & Ives tile that is original to the building.” The structure was formerly home to Good Day Bakery. An approximately 600 square foot wall will be festooned with photographs of food from all over the world, shot largely by local photographers. “The ambience will be true
to Utah,” Chadbourne said. “I’m using colors like globe mallow, which is my favorite desert flower here in Utah, and silver sage on the walls. We’re staying true to the original tile on the outside of the building. I’ve brought in Craftsman style for the entrance. My focus is staying true to Utah. I love Utah, love living in Utah and supporting local artisans.” Avenues Bistro on Third will also be a green restaurant, she said. “We’re not going to have a Dumpster outside; we’re going to be very eco-friendly. We’re not going to be using chemicals, we’ll use hot water. We’ll have compost that goes right into our garden. We’ll recycle everything. We’re going to have a recycle station outside.” Chadbourne said the goal is for the bistro to be 100 percent wind-powered. Chadbourne said the venture is being financed by a pair of silent investors — “they’re not even charging me interest” — and by Chadbourne herself, who sold her Navajo rug collection and will sell her car in order to get the bistro off the ground. “I’m very grateful and appreciative of being in Salt Lake City, because I believe there is a food revolution happening here and I get to be part of that,”
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she said. “I would never serve something that I wouldn’t eat. I eat very simple, basic prepared foods. I believe that you take it from the ground and you put it on the table and food should take like food. I also believe wholeheartedly in sustainability and local and saving our planet.” Avenues Bistro on Third will not have any parking spaces. “It’s a walkable, cool, wonderful neighborhood to be part of,” said Chadbourne, who resides in the Avenues. “When I went around and visited with all the neighbors after I signed the lease, I introduced myself and told them about what the plan was, and in less than six weeks I’ve had over 200 people stop by, say hello and welcome me back to the neighborhood. It’s been so awesome. I am beyond thrilled to be here. My kids are grown and I get to do what I want. I’m bucking up and going for the dream and doing whatever it takes.”
RDA
from page one looking at a variety of options for initially getting to Highland Drive and where it ought to go after that. This is potentially a critical piece of property for making that work well.” The RDA probably won’t demolish the building any time soon; estimated cost to do so is roughly $150,000. “There are a number of studies in the works that will give us more information about which portions of that property we need for public spaces,” Baxter said. “Once we complete those studies and know more about how the property might be configured, when we’ll make a decision on what to do with the building.”
*
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THE ENTERPRISE [USPS 891-300] Published weekly by Enterprise Newspaper Group Inc. 825 N. 300 W., Suite C309, Salt Lake City, UT 84103 Telephone: (801) 533-0556 Fax: (801) 533-0684 Website: www.slenterprise.com. For advertising inquiries, e-mail david@slenterprise.com. To contact the newsroom, e-mail barbara@slenterprise.com. Subscriptions are $55 per year for online only, $65 per year for print only and $75 per year for both the print and online versions, or $1.25 per copy. Opinions expressed by columnists are not necessarily the opinion or policy of The Enterprise Copyright 2011 Enterprise Newspaper Group Inc. All rights reserved Periodicals postage paid at Salt Lake City, UT 84199. POSTMASTER: Send address corrections to P.O. Box 11778, Downtown Station Salt Lake City, UT 84147
MANTA
INSURANCE
new business activity in Q3 compared to Q2. Alaska, Utah and Oregon had the sharpest declines in activity year over year, while Wyoming, Colorado and Arizona had the biggest boost in business activity in Q3, as well as the most gains year over year. But that success has come with a price for many smallbusiness owners. Almost half of respondents (44 percent) say this year’s business climate has taken a toll on their personal health — one in three say they work out less, 22 percent say they’ve gained weight and 14 percent say they are more short-tempered and argue with family and co-workers. In addition, Manta’s survey found that most small-business owners (63 percent) averaged more than 40 hours a week at work, while nearly one in 10 report their average work week was upwards of 70 hours. Life away from the office, however, has been brighter for small-business owners this year — 45 percent say their business has had a positive impact on their personal life. Small-business owners say they’re happier (31 percent), have more time for family and friends (15 percent) and even report that their marriages have improved (8 percent). Pamela Springer, president and CEO of Manta, said the survey shows that 90 percent of small-business owners are optimistic about their company’s growth in 2012. Looking ahead, 70 percent of respondents think the small business economy will improve next year. That’s not surprising, since a majority of small business owners (62 percent) rank growing their business as their top New Year’s resolution — ahead of improving relationships with their family, working out more and eating healthier.
high-net worth individuals and the transportation industry. “TGA’s strong sales culture has been focuses on a team-based approach to service excellence, which makes them an outstanding merger partner,” said J. Patrick Gallagher Jr., chairman, president and CEO of Arthur J. Gallagher & Co. “They also have superior carrier relationships that are so important when placing difficult risks for their broker clients.” Arthur J. Gallagher & Co. has operations in 16 countries and offers client-service capabilities in more than 100 countries around the world through a network of correspondent brokers and consultants. It provides a full range of retail and wholesale property/casualty brokerage and alternative risk transfer services globally, as well as employee benefit brokerage, consulting and actuarial services. Gallagher also offers claims and information management, risk control consulting and appraisal services to clients around the world
from page one
Sugar House $16 / RSF / Year 500 to 12,000 Sq. Ft. Available 2257 South 1100 East Salt Lake City, UT 84106 Call 801-486-8157 or email gary@garyayork.com for property information and features. Secure prime office space now as Sugar House looks forward to light rail and major developments in the near future.
from page one
Randall Hales named president and COO of ZAGG Inc. Salt Lake City-based ZAGG Inc., a leading mobile device accessories company, has appointed board of directors member Randall Hales as president and COO. Hales will be responsible for overseeing operations and customer service at ZAGG, as well as the iFrogz division. Hales retains his board seat but will no longer serve as the chair of the audit committee. Most recently, Hales served was the CEO of Mity Enterprises, a furniture systems manufacturer with worldwide sales and operations. Hales managed the privately held venture with more than 250 employees from 20072011, and was recognized in both 2009 and 2011 as the Utah Manufacturer of the Year. Hales served as the CEO and president of Back to Basics Inc., an awardwinning kitchenware company that was recognized by the Ernst & Young “Entrepreneur of the Year” in 2004, and held Inc. 500 recognition in 2003, 2004, and 2005. Back to Basics was sold to Focus Products Group LLC in 2007.
RV parts distributor to expand into 20,000 square feet By Barbara Rattle The Enterprise Prime Source Wholesale Distributors, a local wholesale distributor of parts for recreational vehicles, is in the process of expanding from 5,000 to 20,000 square feet. Currently located at 2921 Parkway Blvd., the firm is in the process of moving into newly leased quarters at 1912 S. 4870 W., Salt Lake City, according to Mark Hult, general manager of the approximately 10-year-old company. The new location “gives us the ability to service our customers better,” he said. “We sell to RV dealers and retailers of RV parts and it will allow us a lot more room to stock product and accommodate increased business. Our current location is really a redistribution point — product comes in and we send it out right as we get it. This new warehouse will give us a lot more ability to stock product and have it on hand so we can service people more quickly.” While many consider RVs to be a luxury item, Hult said the recession has affected even those
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Dec. 19-25, 2011
with the resources to own and operate an RV. “People are not buying new rigs as much and they’re usually fixing up their old stuff, and that’s where we come in,” Hult said. “There are a lot of people doing repairs or fixing up the old ones they have. We’re not breaking any sales records, but we’re growing, which in this economy is pretty ... knock on wood.” Prime Source wholesales an array of parts for RVs, travel trailers, utility trailers, boat trailers and fifth wheels. It has a staff of four; Hult said he plans to hire an additional three people by midJanuary. The company’s market is regional. Prime Source’s owners also operate State Trailer Supply, a retail RV parts operation at 3600 S. Redwood Road. Its 26,000 square foot store carries more than 15,000 products, from windows and doors to refrigerators and air conditioners to axles and tires, Hult said. The firm leased its new location with the assistance of Bob and Josh Mills of Commerce Real Estate Solutions.
Woodbury Corp. to construct new building, lab in Research Park
John Dudash appointed CEO, president of Mity-Lite Inc. Mity-Lite Inc., an Orem-based manufacturer of durable, lightweight folding tables and chairs, has appointed John Dudash as its CEO and president. He succeeds Randy Hales, who leaves Mity-Lite to serve as the COO and president of ZAGG Inc.
Dudash
Having served as MityLite’s executive vice president of sales and marketing since October 2010, Dudash has led Mity Lite’s continued sales growth. Dudash has more than 28 years of senior level executive experience with a strong emphasis in driving market share, revenue,
and profit growth for domestic and international operations. Prior to joining Mity-Lite, Dudash served as either chief executive officer or executive vice president for several companies and divisions with outstanding results, including Atlantic Luggage Co., Illume Candle Co. and Sanford Corp., a Newell Rubbermaid division.
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A computer rendering of the 630 Komas building. Woodbury Corp., Salt Lake City, plans to break ground in the spring for a 60,000 square foot office and laboratory building at 630 Komas in Research Park, Salt Lake City. Fifty percent of the structure has been pre-leased to Blackrock Microsystems, which already has a presence in Research Park, said Woodbury Corp. project manager Luke Woodbury, who designed the three-story building. It will be constructed primarily of brick and EIFS (exterior insulation and finishing systems, a type of building exterior wall cladding system that provides exterior walls with an insulated finished surface and waterproofing in an integrated composite material system.) Construction should take eight to 12 months. A contractor
has not yet been selected, but Woodbury said conversations are under way with several firms. Woodbury Corp. will lease the now-vacant land on which the structure will be built — all buildings in Research Park rest upon property owned by the university — and will thereafter own and operate it. Woodbury Corp. has developed several other buildings within the park. Blackrock Microsystems, founded in May 2008, draws on high-tech innovation that began with Bionic Technologies, a spinoff from the University of Utah in 1997. Blackrock provides enabling tools for the neuroscience, neural engineering and neuroprosthetics research and clinical community worldwide.
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Dec. 19-25, 2011
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Dec. 19-25, 2011
• Industry Briefs •
ARTS/ENTERTAINMENT Awards that recognize the year’s • Ballet West’s fourth-annual best marketing efforts by marketversion of The “Nutty” Nutcracker will be held Dec. 30 at 7 p.m. and Dec. 31 at 2 p.m., featuring a sports theme. In year’s past, The “Nutty” Nutcracker has featured cameo appearances from Waldo of the Where’s Waldo? books, KSL meteorologist Kevin Eubank in the ballet’s opulent Snow Scene, a rubber chicken in place of the traditional Nutcracker doll, and a pesky bumblebee in The Waltz of the Flowers, and much more. This year, “Nutty” Nutcracker patrons will enjoy jersey-clad “Nutcracker” characters, familiar sports ideology and nods to players and teams alike. Performances will be at the Capitol Theatre in downtown Salt Lake City. Guests are invited to Ballet West’s “Sports Night at the Ballet” prior to the evening performance on Dec. 30. It will consists of a family-friendly and affordable dinner highlighting sports programs, athletes and sports personalities in Utah and will take place at the Hilton Hotel. Cost is $10 for adults, $5 for children. Immediately following the tailgate party, guests with performance tickets will walk across the street to the Capitol Theatre to enjoy The “Nutty” Nutcracker. For tickets to “Sports Night,” contact Ashlee Christofferson at achristofferson@baleltwest.org or (801) 869-6917. Tickets to Ballet West’s “Nutty” Nutcracker start at $19 and are available through ArtTix www.arttix.org.
ASSOCIATIONS • The Utah chapter of
the Society for Marketing Professional Services has chosen the 2011 winners of its annual Marketing Communication
Ground to be broken for Ogden townhome project Ground is scheduled to be broken in January for the first phase of Meadows at Riverbend, a 69-unit townhome community to be located at 21st Street and Washington in Ogden. South River LLC is the developing entity. Members of the LLC are Scott Sauric of Elite Building Group, which will act as general contractor, and Blaine Walker of Walker & Co. Real Estate. Walker said the first of three phases will consist of 15 units. Infrastructure is already in place. The project area consists of about four acres. The townhomes will range in size from 1,300 to 1,700 square feet. Walker said pricing has yet to be finalized. Kevin Scholz designed Meadows at Riverbend.
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ing professionals serving Utah’s architecture, engineering and construction (A/E/C) industry. MHTN Architects won in the “Best Website” category. Michael T. Buell of MHTN Architects, was named Marketer of the Year. General contractor R&O Construction won first place in the “collateral/give-away” category. BHB Structural Engineers won in the “Best Campaign” category for its technical e-mail marketing campaign. Shana Yonemura of ARW Engineers was honored with Rising Star of the Year award.
BANKING • Capital Community Bank
has named Scott Nicholls manager and mortgage loan officer at its
W.W. Clyde & Co. names Jeff Clyde president W.W. Clyde & Co., Springville, will promote Jeffrey R.Clyde to president effective Jan. 1. He was formerly vice president of the heavy/highway division for the company, which is a leading supplier of construction materials and construction services in the Intermountain area. Clyde replaces Albert Schellenberg, who is retiring after serving in several key roles in the organization for almost 40 years. Schellenberg joined Geneva Rock, another subsidiary of Clyde Companies, in 1972 after receiving his bachelor’s degree in civil engineering from Brigham Young University. A fourth generation family member, Clyde brings significant industry experience to his new position. He earned a bachelor’s degree in construction management at Arizona State University and has been building projects in the area for more than 20 years.
Orem office. Previously, he was a district manager at World Savings Bank in Meridian, Idaho and as a business development manager at IndyMac Bank, in Boise. He holds B.S. in business management from Utah Valley University and with a masters of accountancy from the University of Phoenix.
COMPUTERS/ SOFTWARE
• Salt Lake City-based inQuo, a company that helps local businesses and home users with their technology needs, has made a donation to Utah Health and Human Rights, a local nonprofit organization that provides counseling, case management services and support to refugees who have fled torture in their home countries. inQuo presented Utah Health and Human Rights with five recycled computer stations, complete with tower, monitor, mouse, keyboard and printer. UHHR will then give four computers to refugee families to help with educational needs and job hunting, and keep the fifth work station in their office to offer immediate Internet access before and after appointments.
CONSTRUCTION • MHTN Architects, Salt
Lake City, has been named one of the country’s “Best Firms to Work For” by ZweigWhite. MHTN ranked seventh overall in the nation. The ZweigWhite Best Firms to Work For ranking is based on comprehensive evaluations of firm culture, workplace
practices, employee benefits, employee retention rates, professional development, and more -both from the management and staff’s perspectives. All firms that apply are evaluated against each other, not a set standard. • The Mountainlands Area Plan Room, a local resource for those in the construction industry, has acquired the services of National Directory
Publisher VillageProfile.com to produce a soon-to-be-annual MAPR Membership Directory. Thousands of copies are expected to be distributed to firms in the industry not only in Utah but regionally and online. • FMI, the largest provider of management consulting and investment banking to the continued on next page
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The Enterprise
6
Capital expenditures and improvements — when is a good time and what should be considered? Most companies have their year-end approaching, which means budgeting time. Typically budgets are prepared to set expectations for operating results and, correspondingly, earnings. However, many companies fail to consider their cash-flow and capital expenditures. These can cause significant heartache to an organization that would otherwise be on a smooth course. With the economy still crawling along, many companies have foregone investments in capital improvements for several years, and projects are starting to move from “nice to have” to “critical.” The good news is that banks are flush with cash and interest rates are at all-time lows. The bad news is that many banks are not lending. This leaves finance departments struggling to find ways to take Boyd advantage of cheap funds to move ahead with needed capital projects. In addition to stress caused by lenders, other concerns such as regulatory requirements, tax rules and accounting changes are making the horizon more difficult to discern. The following factors should be considered when evaluating options for capital expenditures. This list is not intended to be comprehensive, but food for thought. Interest Rates Interest rates have been consistently low for over three years and are forecast to stay at historically low levels for at least the next year. As the economy improves, however, these rates, particularly the longterm rates, will creep up. This will lead to increased overall cost of capital investments in the future and drives value to companies to invest today. Tax Rules In an effort to stimulate the economy the government will, at times, allow for capital investments to be fully depreciated for tax purposes, which can result in significant savings. The current bonus depreciation of 100 percent expires Dec. 31. However, 50 percent bonus depreciation is still in place through 2012. Discuss the pros and cons of such rules with
your tax accountant to see whether they will benefit your organization. Leasing One of the biggest hurdles to capital improvements is the cash outlay. Leasing is an option that can significantly reduce up-front cash requirements and allow for smaller monthly payments. Depending on whether the lease can qualify, this option can also reduce the balance sheet impact of asset additions by classifying them as operating leases. This option may help companies meet leverage ratios or other balance sheet covenants imposed by lenders. However, it also impacts an organization’s ability to realize any tax benefits and should be evaluated accordingly. Also, proposed Hunter accounting changes may impact the value of leases in the future as a means of managing the balance sheet. Check with your accountants to determine whether these changes will impact your company’s financial statements. Other Regulatory Impact Environmental or other regulatory requirements impact certain industries and can have a significant role in the timing of capital investments. For instance, in the transportation industry, changes to emissions requirements for heavy trucks may accelerate new equipment acquisitions because of the cost they add to both the purchase price, as well as ongoing operations. Since these can be very industry-specific it is important to stay abreast of proposed changes and evaluate how these might impact your company. Boyd Hunter is a certified public accountant and is the CFO of TAB Bank in Ogden. He participates in the strategic planning functions of the bank as well as oversees the accounting, financial analysis and risk management functions of the bank. TAB Bank provides custom working capital solutions — accounts receivable financing, lines of credit, equipment loans and asset-based loans — to transportation and nontransportation companies in all stages of business life cycles during any economic conditions.
EVEN THE BIGGEST BUMPS ARE JUST PART OF THE ROAD. Over the years, we’ve helped countless businesses get the cash flow they need to keep moving, and we can do the same for you. Learn how at tabbank.com or by calling 801.624.4415.
Dec. 19-25, 2011 from previous page engineering and construction industry, has released its 2012 U.S. Markets Construction Overview, offering insight into some of the engineering and construction industry’s most complex business challenges. This publication focuses primarily on the U.S. domestic construction market, which is also a lagging reflection of the country’s economic health. The broad picture is not dramatically different from last year. A few highlights include (1) the move to a greater use of P3 (public-private partnerships) project funding will be slow, but will begin to gain traction in the United States; (2) demographics continue to drive demand for health care, education and improving infrastructure; (3) spending for government construction is expected to decline as budget battles continue to rage in Washington and spill over to every state in the nation; (4) sustainable or green construction will drive demand for LEED-certified buildings; (5) innovation is driving efficiencies in multi-trade prefabrication and modularization construction; and (6) as the baby boomers age out of the workforce, many firms will face succession and transition challenges. • Rhys Weaver will be promoted to executive vice president of Clyde Companies Inc., an Orem-based heavy highway construction firm, at the end of the year. Weaver was formerly a vice president at the company. Weaver will continue as president of Sunroc Corp., a subsidiary of Clyde Companies. • Scott Okelberry, who has been serving as vice president of the Special Projects Division at W.W. Clyde, a Springville-based supplier of construction materials and services in the Intermountain area, will become executive vice president and COO of the company at the end of the year. He earned a bachelor’s degree in construction management and an MBA from Brigham Young University. He has worked as an estimator and project manager and is currently
the chairman of the Highway Committee of the Utah chapter of Associated General Contractors. • CraCar Construction, West Valley City, has been selected by the Utah Transit Authority to build the Orem Intermodal Center. The approximately $3.9 million project will consist of a park-and-ride facility on approximately eight acres.
EDUCATION/TRAINING • Alexandra Hesse has been
promoted to the position of executive director of The Leonardo, a Salt Lake City museum connecting science, technology and creativity. Hesse joined The Leonardo in 2006 to oversee development of the museum’s exhibits, programs and visitor experience. Previously, Hesse held management roles with the Salt Lake and Sydney Olympic organizing committees, as well as the Stills Gallery in Sydney, Australia’s foremost multimedia art and contemporary photography gallery. • The first class of graduates from the Bachelor of Science in Nursing at Roseman University’s South Jordan campus achieved a perfect 100 percent pass rate on the NCLEX-RN examination. A report from the Utah State Board of Nursing shows that among nursing programs in Utah, the 2011 passing rates for the NCLEX-RN exam ranged from 67.69 percent to 100 percent, with an average of 88.36 percent. • Utah Valley University provides a return of $7.97 for every state dollar invested for an annual economic impact of $534 million, according to a recently concluded study by Jack Faucett Associates Inc. UVU’s return on investment to the state’s economy has increased by 21 percent over the past five years. Of the more than half-billion dollars UVU contributes to Utah each year, $458.7 million is concentrated in the institution’s service region, which is comprised of Utah, Summit and Wasatch counties. UVU’s value-added impact — which subtracts inputs from total economic output — is about $374 million annually, based on a return of $5.58 per state dollar invested, with $333 concentrated in the University’s service region.
GOVERNMENT • The IRS has closed its
counter that has been located at the Utah State Tax Commission, 210 N. 1950 W., Salt Lake City. IRS customers can visit the office at 50 S. 200 E., Social Hall Avenue in Salt Lake City. • The U.S. Environmental Protection Agency has awarded $25,000 each to The Repertory Dance Theatre and the Utah Society for Environmental Education to address environcontinued on page 8
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The Enterprise TRIM: 10.25”
Dec. 19-25, 2011
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ENTERPRISE 10.25”x13.5”
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Dec. 19-25, 2011
The Enterprise
HUMAN RESOURCES
from page 6
Utah and Surrounding States Affordable, Borderless Coverage
Join Now
Pre-Launch Sale – Save $249 Hundreds of projects online Now Projects are clear & easy-to-use Current bidding news Upcoming projects planned Post bid news or results Benefits of MAPR Membership include fleet deals, fuel discounts, estimating programs and more! Visit www.ConstructUtah.net www.MAPRUtah.com Or call Mike Luke direct at 801-891-5898 or mike@maprutah.com
mental justice issues nationwide. The Repertory Dance Theater uses the arts to educate Salt Lake City youth about the impacts of air pollution. The organization will conduct Arts/Environmental Residency Programs in K-6 schools in the west and central areas of Salt Lake City and will use the arts to help students understand the impacts of air pollution on the environment and their health. The Utah Society for Environmental Education will create a waste recycling program for residents of Rose Park community. • The Internal Revenue Service has issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be 55.5 cents per mile for business miles driven, 23 cents per mile driven for medical or moving purposes and 14 cents per mile driven in service of charitable organizations.
HEALTH CARE
• Salt Lake Regional Medical Center is the first in Utah and one of the first medical centers in the United States to offer patients the first and only chronic pain treatment that leverages motion sensor technology found in many consumer electronics, such as smartphones and computer gaming systems, to provide effective pain relief and convenience to patients suffering
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from chronic back and/or leg pain. Steven Pulley, M.D., a member of the medical staff at Salt Lake Regional, is the first surgeon in Utah to implant in a patient the new Medtronic AdaptiveStim with RestoreSensor neurostimulation system following its recent approval by the Food and Drug Administration. • Jordan Valley Medical Center and Pioneer Valley Hospital now offer CT scans that deliver significantly less radiation to patients than standard CT scans. The Philips iDose CT (computed tomography) scanners at Jordan Valley and Pioneer Valley benefit patients by creating detailed, 3-D cross-sectional images of certain parts of the body — such as soft tissues, the pelvis, blood vessels, the lungs, the brain, abdomen, and bones — which help physicians on the medical staff to diagnose illnesses and plan treatments. According to the manufacturer, Philips iDose enables up to an 80 percent reduction in radiation dose while maintaining diagnostic image quality.
• Employer Solutions Group (ESG), Provo, has named Daryl Sisk vice president of sales. Sisk has more than 15 years of experience in sales management and training, human resources consulting, benefits administration, marketing and public relations. He most recently worked as chief sales officer at Corporate Alliance and has a strong focus on building and maintaining successful client relationships. In addition to his experience, Sisk has a master’s degree in organizational management.
LAW
• Ryan L. Marshall has been named a shareholder, effective in January 2012, of the intellectual property law firm Brinks Hofer Gilson & Lione. Marshall practices in the Chicago-based firm’s Salt Lake City office and has substantial experience in the chemical, pharmaceutical and biochemical arts, and counsels clients and prepares opinions relating to patentability, invalidity, infringement and enforceability issues. • Steve Gordon has joined Wrona Law Firm, Park City, as a senior member of the firm’s litigation team. A Park City resident since 1995, Gordon is a seasoned litigator who joins Wrona Law Firm from the Salt Lake City firm of Durham Jones & Pinegar, where he was a partner. Gordon earned both his undergraduate and law degrees from the University of Utah. He has significant experience in both trial and appellate practice, with expertise in civil litigation, employment law, contract and business law, as well as dispute resolution.
at www.treeutah.org
The Enterprise
Dec. 19-25, 2011
marketing company specializing hoop contest and prizes for the MANUFACTURING • Derek Smith has been pro- in the Web, has opened an office best ‘70s costume contest and
moted to chief marketing officer at ZAGG Inc., a Salt Lake City mobile device accessories firm, effective immediately. Since joining ZAGG as vice president of sales in 2007, Smith’s primary responsibilities have included retail sales management, market development and product development.
MEDIA/MARKETING • Michael Rudd and
Danielle Nelson join Provo-based integrated marketing agency The Walton Group Inc. as its newest account executives. Rudd, a Boise native, is a senior at Brigham Young University studying advertising. He has more than 10 years of work experience. Nelson, from Fresno, California is also a senior at Brigham Young University, studying public relations. She is currently a volunteer for a nonprofit organization focusing on assisting underprivileged children in Africa. • Three-year-old West Virginia-based WELD, a
in Park City. WELD counts as clients organizations such as the Boy Scouts of America, ACE Adventure Resort, OARS and Yakima.
OUTDOOR PRODUCTS/ RECREATION
• Cadillac has been named the official vehicle of the Deer Valley Resort. Cadillac, which has produced luxury automobiles since 1902, will provide a fleet of more than 30 of its Escalade and SRX models to serve as guest transportation shuttles and marketing vehicles for the next three years. • Forty years of Snowbird history are being celebrated this month with a Birthday Bash and Snowbird’s annual Summit Gala. The Birthday Bash will take place on the same day Snowbird opened in 1971, Friday, Dec. 23 from 2 p.m. until 5 p.m. on the Plaza Deck. Snowbird will offer $40 lift tickets for the day, as well as food and beverage specials. The celebration will include a hula
for the Snowbird guest with the most Snowbird season passes. DJ Knucklz will be spinning 70s music, and guests may enter a raffle drawing. The Summit Gala will take place Wednesday, Dec. 28, at 5:30 p.m. Snowbird’s founders, Ted Johnson and Dick Bass, will speak during dinner, and live music will be provided by Imagine: The Beatles Tribute Band. Another highlight of the evening will be the presentation of a new video called
real estate brokerage Commerce
Focus W UTAH
REAL ESTATE • Salt Lake City commercial
Real Estate Solutions, has named Mary Street, a member of the Commerce team for the past six years, as branch manager of its Utah County office in Orem effective Jan. 1. The full-service branch houses 21 Commerce brokers. Street has 16 years in real estate sales and leasing. • Park City-based Showhomes Home Staging, a national home staging service that uses live-in home managers to help stage and care for vacant homes for sale, continued on page 12
GAIN MARKET SHARE. LEARN HOW.
“Hatching the Bird,” documenting the opening of Snowbird. Tickets to the Gala cost $125 per person, or $1,000 for a table of 10. Proceeds will benefit the Cottonwood Canyons Foundation, Snowbird Sports Education Foundation and Wasatch Adaptive Sports. Tickets can be purchased at https://store. snowbird.com/gala/.
a sa t c h Fr o n t
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801.533.0556 ext. 237 • www.slenterprise.com
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Jean John Vice President Administration First Utah Bank
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The Enterprise
Executive Lifestyle Executive Lifestyle Legal Matters What's happened to cruise ships?
They are like sailing cities, these recently built mega cruise ships — so big they cannot go through the Panama Canal, and there are dozens of them. The biggest of them all are run by Royal Caribbean International, also by far the most popular cruise line among Americans, namely, the Allure of the Seas and the Oasis of the Seas. These two ships measure over 225,000 gross tons and transport 5,400 passengers apiece. The next largest would be Norwegian Cruise Lines’ Epic at 156,000 gross tons with a passenger capacity of 4,100. These ships are destinations! Never mind the shore excursions, you could spend a week or two on
can enjoy onboard recreational, athletic and entertainment activities organized into seven themed areas called “neighborhoods.” There’s the Entertainment Place neighborhood; the Youth Zone with science lab and computer gaming; Royal Promenade featuring restaurants and shops viewable from a mezzanine; Boardwalk which features a handcrafted carousel, restaurants, bars, shops, two rockclimbing walls, and a temporary tattoo parlor (its outdoor 750-seat AquaTheatre hosts the ship’s largest freshwater pool); Vitality at Sea Spa and Fitness Center with a spa for teens; The Pool and Sports Zone that features a sloped-entry beach pool and two surf simulators; and last but not least, Central
Three notable business books for holiday time reading
Legal Matters Legal Matters Matters Legal Don Shafer
(Editor’s note: Each month Jack Covert, founder of 800-CEOREAD, reviews the best recently released business books. Jack is coauthor of The 100 Best Business Books of All Time, released in March of 2009. 800-CEO-READ is a leading direct supplier of bookrelated resources to corporations and organizations worldwide, and specializes in identifying trends in the changing business market.)
by quoting prominent thinkers on the less savory characters in the field, such as: The late Peter Drucker liked to quip that people use the word “guru” only because they cannot spell “charlatan.” And: “Never have so many labored for so long to say so little,” was [Warren] Bennis’s waspish verdict on the leadership literature. This book is such even-handed look at management theories and literature, and their implementation in the real world, that I couldn’t pass it by, though it almost does my work for me in sifting through the genre. It is a guide to everything management theory has produced — the good and the bad, the whirlwind of theories, jargon and gurus that propagate the literature — and it comes out of that mineshaft holding a glittering handful of gold nuggets that will make your decisions about where to look for guidance much wiser and more refined. Master of Management belongs on the shelf of every manager in the country.
StaffingMatters Matters Legal
one of them and never exhaust the lists of things to do, places to go and stuff to see. Consider Royal Caribbean’s two Oasis-class ships, where you
see SHAFER page 12
Real Estate Matters Legal Matters THE CENTER OF IT ALL
Masters of Management: How the Business Gurus and Their Ideas Have Changed the World — For Better and for Worse By Adrian Wooldridge, HarperBusiness 464 pages, $29.99, Hardcover Just from the title alone, you can tell that Masters of Management is a bit softer in tone than the book it revised and updated — a classic, The Witch Doctors by John Micklethwait and Adrian Wooldridge, released in 1996. Micklethwait, now the editor-in-chief at The Economist, bowed out of this updated version, but Wooldridge carries the torch forward to cover the rise of the Internet, globalization, the explosion in entrepreneurship and the ever-expanding field of management and leadership literature. It is also the first comprehensive documentation of how the management field has transformed civil society and government — for better and for worse — in the last few decades. For instance, attempting to reward public servants whose initial motivation is working for the public good with incentive-based pay has proved to be somewhat disastrous in its results, while devolving power from central governments to local public servants has been a boon for efficiency. Though its title emphasizes the positive over negative, Masters does not pull its punches and its critiques of management theory and its “gurus” are as fair and sober as you’ll find anywhere. When Wooldridge does go negative, he does so through surrogates
HR Matters Legal Matters
INLAND WESTERN R
Retail Real Estate Trust, Inc.
Screw Business as Usual By Richard Branson, Portfolio 384 pages, $26.95, Hardcover By the time you get to page four of Richard Branson’s Screw Business as Usual, you will have already been treated to stories of Kate Winslett saving his mother from his burning home on Necker Island — literally carrying her soot-faced down the stairs as the fire raged behind them — and discussing the state of the world over dinner with the Queen and Barack Obama at Buckingham Palace. (And, to apologize for name-dropping, he shares a joke told to him by Archbishop Desmond Tutu.) So, right away, you’re under no illusion that Richard Branson lives a life similar to yours, but the book makes it very clear that we all live on the same planet. Though he’s far from what most of us would find to be ordi-
The Enterprise
Dec. 19-25, 2011 nary, Branson’s message in the book reinforces the sometimesoverlooked knowledge that we can each contribute to, create and hasten change, and that “doing good is good for business.” In doing so, he champions the everyday: “[The] power of the ordinary, everyday person to become entrepreneurs and change-makers to set up their own businesses, to seek their own fortune and be in control of their own lives, to say — screw business as usual, we can do it! We can turn things upside down and make a huge difference.” There have been many monikers for this idea, but Branson has come up with his own, Capitalism 24902, explaining: “Every single business person has the responsibility for taking care of the people and planet that make up our global village, all 24,902 circumferential miles of it.” The book is a chronicle of those who have done just that, and there’s a lot of good news to proselytize. Instead of ignoring the bad news, he shares stories of small enterprises like food retailer Jempson’s and Finisterre clothing company — excellent examples in terms of what they’re doing in local food sourcing and fabric innovation, but also because most of us have never heard of them, which makes the stories fresh and accessible, and their successes seemingly achievable. The book is chock full of these small business victories and the successes of acting responsibility, stories of doing well by doing good, and demonstrates once again that Branson has a firm finger on the pulse of the entrepreneurial world. Situations Matter: Understanding
How Context Transforms Your World By Sam Sommers, Riverhead 304 pages, $25.95, Hardcover It is raining out, and you are in a rush. You back into the only open parallel parking space you can find on your third trip around the block. You misjudge the distance between your bumper and that of the car behind you. You nudge the other car, but think little of it because, after all, that is what bumpers are for. You finish parking, get out of your car, and make a dash toward the store to stay as dry as possible. To your surprise, the owner of the vehicle, who was still behind the wheel, chases after
you, says you damaged her car, demands restitution. What do you do? Sam Sommers, author of Situations Matter, would tell you it depends. What kind of day did you have at work that day? Is there anyone witnessing your interaction? Are you a man or a woman? Our emotions and personalities change within very complex, high-demand and high-stress situations. Often, the times we’re really called to the test, when we need to be thinking, deciding and reacting with the best of our ability, we give in to elements within (and outside of) the situation and instead show our weaknesses. While this may seem obvious, Sommers’ book will show you why you do what you do. As the book’s prologue states: “This book will take you down a less-traveled, often surprising, and sometimes disconcerting road of human experience, refocusing your attention on the ordinary situations that have extraordinary effects on how we think and act. Research shows us that the context impacts even the most intimate aspects of our lives, and this conclusion offers to those who embrace it insight as well as competitive advantage.” Although, as the author states, this isn’t a self-help book, with this insight into human nature, we might be able to think about situational factors in advance, and mold our reaction to them, or even control their occurrence, before we do or say something we wish we’d done differently in hindsight. As much “Seinfeld” as science, Situations Matter is a great book to start a new year on, when we look to make improvements in our lives, our work and our treatment of those around us.
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SHAFER from page 10
Park, with boutiques, restaurants and bars, including access to the Rising Tide bar, which can be raised or lowered between three decks (it’s the first living park at sea with over 12,000 plants and 56 trees). These huge vessels have picture-window and balcony cabins not only on the outside looking onto the ocean, but on the interior facing the various neighbor-
hoods. You can enjoy many entertainment options, including full Broadway productions (shows like “Chicago”), rock climbing, surfing, a zip line, mini-golf, multiple nightclubs, several bars and lounges, a karaoke club, comedy club, five swimming pools, volleyball and basketball courts, the theme parks, nurseries for children and 22 dining options, which include a Johnny Rockets restaurant and a Starbucks coffee shop. The amazing thing to me is, with the inhabitants of a fair-
sized town, how quickly you can disembark for a shore excursion. When the Oasis made its maiden voyage with more than 6,000 passengers (several cabins held more than two people), it took only 15 minutes for each traveler to get from arrival at the dock to his or her room. Norwegian Cruise Lines, on the subject of dining options, is the company that pioneered what they call “free-style cruising.” Its Epic offers 20 different dining options. No longer must passengers choose
Property Management Group Sales & Leasing Commercial Residential HOA DeAnna Gregersen 801-879-1704
between a first or second seating in a single large dining room. All of NCL’s ships over the past dozen years were designed with many restaurants onboard, offering Japanese, Chinese, Italian, French and ethnic foods, as well as a steak houses, seafood restaurants, burger and pizza shops, and, of course, a huge buffet. The Epic has the only rappelling wall at sea, bowling alleys, batting cages, a 24-foot high Spider Web to climb, and a complete water park that features extreme twisting water slides including the EPIC Plunge (it drops 200 feet before you spin through a vortex and into splashdown lane). This ship offers nine entertainment options nightly, which feature major touring entertainers like the Blue Man Group and The Second City comedy improv. And here’s a note of “Epic” proportions — for anyone traveling as a single: they have studio cabins for solo travelers. Just think, no more singlesupplement if you want to travel sans roommate. If you are a high-end traveler, these towns-on-the-ocean have from page 9
has earned a Net Promoter score (NPS) of 64 percent compared with the average U.S. company’s score of 15 percent. NPS measures customer loyalty by asking the customer a key question — “How likely are you to recommend us to a colleague or friend on a scale of 0-10, 10 being the highest?” Showhomes Home Staging has 75 franchises in 24 states and was founded in 1986.
RETAIL • City Creek Center, the
new shopping and dining destination rising in the heart of downtown Salt Lake City, will host a charity gala and shopping event on March 21, 2012, from 6:30 p.m. to 9:30 p.m., the night before the center’s official grand opening. Tickets are now on sale, benefitting four local charities. The approximately 700,000 square foot shopping center, with nearly
Biaggi’s - 10% off entire meal purAt The Gateway, we believe that when you work hard, you chase (lunch only) Franklin Covey - $15 off any $75 purchase
deserve some perks. That’s why The Gateway, FM100 and The Enterprise have created and exclusive “Office Worker At Work Perk Card” for all of you hardworking people. (Fill out your At Work Perk Card application at The Gateway Concierge desk.) Flash your card and get savings and discounts at participating shops and restaurants at The Gateway. Just keep your card in your wallet and look for special deals throughout The Gateway. FM100 will be e-mailing you ever Monday with the “Perks of the Week.” Log on to www.fm100.com or check out The Enterprise for the most up to date list of specials. Turn in your completed form to The Gateway Concierge, located across from Urban Outfitters or to any participating retailer to be eligible for monthly drawings.
high-end places to stay. The Epic offers villas that are so private you and your neighbors have your own elevator, pool, gym, bar and restaurant, plus butler and concierge services. At minimum, this smacks of a J. W. Marriott on water. Here’s a fantastic fact: All of these monster ships are sailing the Caribbean this winter, and lead prices for a week on the Epic are as low as $599 per person, $779 for the Oasis of the Seas. I haven’t done it yet, but cruising on one of these super ships is now definitely on my to-do list. In fact, it sounds like something I should do for your benefit. Then I could report back at a later date, after my fact-finding tour is fully complete. Don Shafer has been hosting radio travel shows in Salt Lake City for more than a dozen years, and was taught everything he knows by travel experts he has interviewed. Although some have called him “The Travel Doctor,” he holds a Ph.D. in a totally unrelated field, religion.
80 stores and restaurants, will host an evening of live entertainment, food and drink crafted from local ingredients and an opportunity to shop and preview the center’s stores, which will open for the event. Tickets can be purchased for $50 directly from the benefitting charities, which are Ballet West, The Road Home, Utah’s Hogle Zoo and The Junior League of Salt Lake City. • A recent study of consumers’ online and mobile purchasing attitudes conducted by Javelin Strategy & Research and PaymentOne found four out of five consumers would spend more online if offered an easier and more secure way to pay. The survey also found that by a margin of almost four to one, consumers believe direct carrier billed mobile payments are more secure than using credit and debit cards for online digital purchases. How much more would consumers spend if they didn’t have to share their sensitive personal data or type in a long credit card number to complete their purchase? The Javelin survey finds that online merchants could add aggregated yearly revenue of $109.8 billion, simply by offering an alternative “no credit card required” way to pay at checkout. Conducted this fall, the 2011 Consumer Payment Poll revealed that consumers have dramatic and growing concerns about the safety and privacy of using credit or debit cards for online transactions. More than half of consumers surveyed admitted to abandoning online purchases at check-out because of these concerns, confirming a huge loss in potential revenue for online continued on page 16
The Enterprise
Ju Re Us He st al Pr lp Sp Ch ov ar an ide e ge C ha N o ng t e
Dec. 19-25, 2011
Please Help Us This Christmas! You can give a delicious Christmas dinner to a Hungry and Needy Soul for $1.83! Salt Lake City Mission will serve delicious ham or turkey, yams or dressing, mashed potatoes with gravy, vegetables, a roll, a big piece of pumpkin pie and a drink. Your gift will also provide a gift for a child, clean clothes, hygiene kits, life skills, education, employment opportunities, counseling and so much more to the needy. We expect to serve over 15,000 meals this 17th Annual Holiday Season.
A good meal is often the first step to a new life! You will receive a tax-deductible receipt. Please mail your gift today! Salt Lake City Mission
P. O. Box 142 Salt Lake City, UT 84110-0142 “Providing real change not just spare change since 1993” Costs are approximate, include operation expenses and may be used for programs to help the homeless throughout the year. We never sell your name.
Not affiliated with The Rescue Mission of Salt Lake
Stems Inc.
$18.30 provides for 10 hungry souls $25.62 provides for 14 lonely individuals $51.24 provides for 28 people in need $100.65 provides for 55 hungry people $183.00 provides for 100 destitute folks $501.42 provides for 274 needy people $1,001.01 provides for 547 of Utah�s neediest $5,000 or my best gift of Other $ Name __________________________________________ Address ______________________________Apt._______ City/State/Zip____________________________________ If Credit Card, # Exp. Date: ________ Signed: / For more info or to make a gift online visit www.saltlakecitymission.org
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Dec. 19-25, 2011
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In challenging economic times like today, would you trust your real estate investments to just anyone?
Trust a certified professional to maximize the return on your investments. Partner with a Certified ProPerty Manager® (CPM®). A CPM® has:
• Expertise on salvaging, maintaining, re-shaping, and re-marketing your real estate assets
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To find an CPM® in your area, visit www.IREM.org/CPM. Or connect with your local chapter: IREM® Utah Chapter No. 33 Ashley Kimmel, IREM® Association Executive 1218 South 4050 West | Syracuse, UT | 84075 (801) 965-0527 | www.iremutah33.org | iremutah@comcast.net
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We Mean Business Subscribe or advertise 533-0556 www.slenterprise.com
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The Enterprise
Dec. 19-25, 2011
Thirteen predictions and challenges for a great 2012
PLEASE NOTE: These are not eco- 7. PREDICTION: You will need to nomic predictions. They are based on my be able to differentiate yourself from the personal observation and first-hand knowl- competition (in the mind of your customedge of sales forces across the United States er) to be greater than ever. CHALLENGE: — their present situation, and their future Begin by asking yourself and your present hope based on market conditions and readi- customers what differentiates you from your ness. competition. Then take actions to widen the And please DO NOT COMPARE gap. HINT: The ordinary things are a great YOURSELVES. Rather ask yourselves: Am start. Use Ace of Sales e-mails (www.aceofI ready to win more based on these predic- sales.com) to begin the process. tions and challenges? 8. PREDICTION: Your company will 1. PREDICTION: More business finally (after three years) begin to provide will be available as the economy sales training. CHALLENGE: Is begins to surge and the elections the training relevant? Is the training become a reality. CHALLENGE: acceptable to your sales team? Is Are you ready for an increase in the trainer acceptable to your sales business, not just with product and team? Does the training incorpoinventory ability, but with better rate the voice of your customers? attitude, mood, friendliness and Is the training working? morale of the entire company? 9. PREDICTION: You will lose Jeffrey 2. PREDICTION: There more than one sale to an inferior Gitomer will be pricing challenges even competitor. CHALLENGE: Find in the wake of greater busiout why and fix it. HINT: It ain’t ness. CHALLENGE: Now is the time for price! 10. PREDICTION: More face-to-face PROFIT. You have left too much money on the table for the past two years. Create a bet- meetings will be necessary to build relater value proposition, and use it rather than tionships, or you will become vulnerhaving to justify (and perhaps lower) your able to the competition. CHALLENGE: Double your existing face-to-face meetings price. 3. PREDICTION: There will be an from last year, and double your networking emphasis on third party purchasers and hours. 11. PREDICTION: Breakfast will be buying groups in order to leverage pric- ing. CHALLENGE: Build value-based rela- the new lunch. CHALLENGE: Your contionships that the customer would lose out nections, relationships, and even your proson if they joined the group. Get testimonials pects are crunched for time. The two-hour from customers that decided not to partici- lunch will wane. An early morning, 30-minute meeting over coffee will net more and pate. 4. PREDICTION: Full participation better results. Set a goal of three breakfasts in business social media is no longer an a week. option for your company. CHALLENGE: 12. PREDICTION: Your sales plan/ Counsel your counsel and determine what goal/quota/numbers will be much more you CAN do. Do that as fast as you can. attainable. CHALLENGE: The business Your plan must include all forms of busi- is out there for you to earn. Your perceived ness social media, and interaction with cus- value, your perceived difference and your tomers one-on-one. Need examples? There reputation will determine your numbers are plenty of them online right now. One of way more that your price. 13. PREDICTION: Your personal them may even be your competition. 5. PREDICTION: Full participation dedication or rededication to excellence in business social media is no longer an will reach new heights. CHALLENGE: option for you personally. CHALLENGE: Allocate three hours a day to YOU. Allocate Set up a business Facebook page where an hour for social media and personal people can “Like” you and invite all your branding. Allocate an hour for customer customers to begin to comment on your interaction. And allocate an hour for reading products, service and impact of ownership and study. You will have to allocate more or service provided. Your LinkedIn connec- time for personal development and training tions must exceed 501 and you must have because the new challenges require new at least 10 recommendations. This makes knowledge. If you’re looking for a game plan, if your image look powerful, structured and reputable. Twitter must attract 500 follow- you’re looking for a success plan, I’ve just ers, and you must tweet twice a day. Your given you one that will make 2012 more YouTube channel must have at least 10 tes- than you could hope for. All you have to do timonial videos that use the most searchable is WORK HARD. words in your business category. Your blog is the real-world outlet for yourself and your customers — make it valuable and interact Jeffrey Gitomer is the author of The Sales Bible, Customer Satisfaction is Worthless with customers one-on-one. Customer Loyalty is Priceless, The Little 6. PREDICTION: Your personal Red Book of Selling, The Little Red Book reputation and brand will play a greater of Sales Answers, The Little Black Book of role in getting a sales meeting and get- Connections, The Little Gold Book of YES! ting a favorable decision. CHALLENGE: Attitude, The Little Green Book of Getting Google yourself to establish your base Your Way, The Little Platinum Book of in January. Then take WEEKLY actions Cha-Ching, The Little Teal Book of Trust, to enhance your status. Get testimonials. The Little Book of Leadership, and Social Volunteer for charity. Speak in public. Post BOOM! His website, www.gitomer.com, will on your blog. Get others to praise you. And lead you to more information about training build your reputation one action item, and and seminars, or e-mail him personally at salesman@gitomer.com. one good deed, at a time. © 2011 All Rights Reserved
Improving economy is best Christmas gift If anything is true about history, it is resulting in recent or forthcoming expanthat it repeats itself. And just like the Great sions or relocations of companies includDepression in the ‘30s and the 10 eco- ing Procter & Gamble, ITT, Home Depot, nomic downturns since then, this recession Boeing, Goldman Sachs, Adobe Systems, eBay, Electronic Arts and Oracle. will come to an end. I’ve seen this cycle many times and • Utah’s population growth is one of was reminded of it as I recently reviewed the fastest in the country, providing a burold Bank of American Fork documents geoning workforce. I would say we Utahns have a lot to from the ‘30s and ‘40s. Back in 1933 at the height of the Depression, the bank’s be proud of. But it’s not just us. While Utah is total assets were $274,000. Bank examin- ers classified $199,000 — 73 percent — of taking the lead, the entire U.S. economy grew by 2.5 percent in the third those assets (mainly loans) as subquarter after growth of just 0.9 standard. A decade later, Bank of percent in the first half of the American Fork’s assets had grown year. Thanksgiving weekend saw to $1.7 million and only $29,000, the number of shoppers increase, or 1.7 percent, were substandard. This is a testimonial to the each spending an average of reality of the economic and busi$398, up from $365 last year. ness cycles that repeat themselves This helped retailers earn a record time and time again. It also pro$52.4 billion, up 16 percent from vides a real-life perspective that $45 billion last year, according to encourages us to keep a positive Dale Gunther a survey by the National Retail attitude and work with faith in our Federation. Further, many economists are revising future. I believe we have much to be encour- upwards their GDP forecasts by as much as aged by, particularly in Utah. This is evi- half a percentage point — a significant denced by a recent article in Forbes that, increase. In November, builder confidence for the second consecutive year, declared rose to its highest level in 17 months as Utah as the Best State for Business and measured by the National Association of Careers. It is the only state that ranks Home Builders/Wells Fargo housing maramong the top 15 states in each of the six ket index, and in October, building permits main categories ranked: business costs, climbed 11 percent. The Restaurant Performance Index labor supply, regulatory environment, cur- rent economic climate, growth prospects shows people are eating out more. Stocks are performing better, too: 76 percent of and quality of life. Some of the highlights from the arti- S&P 500 stocks reported higher earnings cle show that: per share compared to Q3 2010, and 69 • Utah’s energy costs are 31 percent percent topped earnings estimates. below the national average. All of these positive economic indica • Utah’s employment growth has tors show America is finally on the mend. averaged 0.6 percent for the past five years, What better Christmas gift can we ask compared to the national job growth aver- for? age of negative 0.6 percent since 2005. • National unemployment is at 8.6 Dale Gunther is vice chairman of the board of People’s Utah Bancorp, the holding percent compared to Utah’s at 7 percent. • Utah’s job growth is projected by company for Bank of American Fork, which Moody’s to be 2.4 percent annually through is an Equal Housing Lender and Member FDIC. At the start of his 16-year tenure as 2015, which is sixth best in the country. • Utah’s 5-percent corporate tax rate CEO at Bank of American Fork, the bank is well below that of western neighbors had two branches and $80 million in assets; it now has 13 offices and more than $880 Arizona, Idaho and New Mexico. million in assets. Gunther has served as • Utah ranks sixth in a new Tax chairman of the Utah Bankers Association Foundation study that looks at the tax bur- and currently serves as an American Fork den on business in each state across differ- City Councilman. This article should not ent industries. be considered legal or investment advice. • Overall business costs in Utah are Seek legal and investment advice from your 10 percent below the national average, own qualified professional.
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The Enterprise
Domestic ABCs
This week’s column is my semi-annual alphabetic view of the U.S. economy. Global ABCs will soon follow … America — economic growth is likely to continue at just better than a snail’s pace, especially when considering the massive amounts of fiscal and monetary stimulus in the economy. Still, the U.S. economy, for the moment, is improving while Europe, China and much of the world slows. Budget Deficits — I’m old enough to remember President Gerald Ford holding a news conference in the mid-1970s. He used a pointer and a large chart to explain why the nation might run a budget deficit as high as $40 billion that year. We now do that every 11 days Consumer Confidence — still fragile with high unemployment, soft home values and anxiety about the size and direction of government. A “recession of confidence” remains front and center. Dollar — holding its own as the euro slides. Jeff Energy — greater use of abundant natural gas, better access to oil and gas in Alaska and the Gulf of Mexico, and major progress in “clean burn” coal technology must be part of the equation in coming years — in addition to alternative sources. Federal Reserve — its key short-term interest rate has been at an historic low of 0-0.25 percent for three years now, with no change expected anytime soon. Will the Fed be able to rein in extraordinary money growth when necessary in coming years? Global Economy — it’s all about Europe these days as more euro nations feel the wrath of wary financing markets. You would think the U.S. might just take a hint as to what might be coming on this side of the pond if we don’t get our financial house in order. Housing — home prices are expected to stabilize by 2012’s second quarter. Note: I think economists have now said this for three years in a row. Maybe we will get it right this time. Inflation — financial market players are split as to whether inflation or deflation will be the major worry in coming years. Jobs — A key to strong job growth in 2012? How ‘bout the administration and the Congress make some grown-up decisions about reducing future budget deficits, and then get out of the way? Knowledge — and the Ability to Think — the key to individual success in an increasingly sophisticated economy. Ongoing education and training are now lifelong realities for many to be successful. Average annual earnings of a college graduate versus a high school graduate today? Seventy to 80 percent higher. Lending — still too tight across the U.S., especially by the nation’s largest handful of banks. In addition, smaller banks and other lenders are struggling with the as-yetmostly-undefined complexities of the DoddFrank financial legislation. Manufacturing — don’t be surprised if rapidly rising global costs and more competitive U.S. costs lead to a renaissance in U.S. manufacturing activity in coming years. National Debt — the gross national debt (quite descriptive actually) now exceeding $15,100,000,000,000, combined
with budget deficits exceeding $1 trillion annually, makes concrete moves toward fiscal sanity mandatory in the nation’s capital. Opportunity — challenge breeds (it just might be a good time to be aggressive.) Politics — childish and boorish behavior on both sides of the aisle in Washington is ridiculous and all too typical. Can we move toward term limits? Quarterly Economic Growth — most forecasting economists see a 1.5-2.5 percent real (after inflation) annual growth pace in 2012. The current quarter could be closer to a 2.5-3 percent real annual rate. Retirement — the term will take on new meaning in coming decades as more and more people “bridge the gap” (work two or three days a week) between working fulltime and moving into full retirement. Millions of retirement-age baby boomers will prefer (or need) to keep one foot in the workplace for a long time to come. Thredgold Social Security — steps taken sooner rather than later to slow down the future growth rate of spending are required. It would be great if politicians would stop calling it spending cuts — and scaring people! Taxes — boosting capital gains, dividend and income tax rates on the top 3 percent of income earners remains the President’s goal, if he survives the 2012 election. Like it or not, these are primarily the people who create jobs and invest. The administration’s focus on “income redistribution” rather than on providing “incentives for U.S. economic growth” remains troubling. Unemployment — likely to remain above 8.2 percent during the next 12-18 months, after averaging 9 percent during the past three years. Hundreds of thousands of people who previously left the labor force after becoming discouraged could return to the labor force, keeping the rate high. Visitors (foreign) — tens of thousands of additional foreign residents would visit the U.S. (and spend money aggressively) if we didn’t make it so hard for them to come. Wall Street — simply stated, I remain a long-term bull on stocks. Xmas — retail spending is expected to rise 3-5 percent versus last year. As before, aggressive discounting will drive consumer traffic. Youth — my parents “came of age” with Pearl Harbor, my peers with Kennedy’s assassination and Vietnam. For millions of Generations X and Y, Sept. 11 and the “Great Recession” will be forever etched into their consciousness. JaZZ (Utah) — we used to think of them as one of the NBA’s elite teams. Now they are rebuilding. Can they be any good? Like the little train … We think we can … we think we can … we think we can. Jeff Thredgold is the only economist in the world to have ever earned the CSP (Certified Speaking Professional) international designation, the highest earned designation in professional speaking. He is the author of econAmerica, released by major publisher Wiley & Sons, and serves as economic consultant to Zions Bank.
from page 12 merchants. Nearly 6 in 10 consumers are more likely to visit and buy from sites that offer “no-credit-card-required” payment options. Survey results further indicated that digital merchants could realize incremental average monthly revenue of $89 per consumer simply by increasing the available payment choices. Survey respondents perceived carrier billed mobile transactions, where financial information is never shared or loaded onto the phone, to be safer than “mobile payments” requiring consumers to input credit or debit card info. Consumers identified the wireless bill as the preferred method (58 percent), followed by the landline/broadband bill (22 percent) as the safest and most secure alternatives for digital purchases. • Holiday shoppers are gobbling up electronics items at a brisk pace in 2011 and are poised to give the product category its most robust holiday season ever, according to new consumer data unveiled today by price comparison site and social commerce solutions provider SortPrice.
Dec. 19-25, 2011 com. For 2011, the complete Top Ten list is as follows, based on roughly 42,000 user searches on SortPrice.com between Black Friday and Sunday, December 11: Apple iPad 2, Samsung HD televisions, assorted UGG boots, Apple iPhone, Beats Headphones by Dr. Dre, Tory Burch handbags, “Call of Duty-Modern Warfare 3” for Xbox 360, Leap Pad Explorer, Women’s Footwear from Jessica Simpson and North Face Men’s outerwear.
SPORTS • Delta Air Lines and the Utah Jazz
have renewed their multi-year partnership, one of the team’s longest-tenured corporate partnerships. Delta, which will continue to serve as the official charter carrier for the Jazz team, also remains the franchise’s official airline. As a part of Delta’s agreement with the Jazz, the west entrance of EnergySolutions Arena will be adorned with Delta-branded graphic elements. Other components of the agreement include in-game promotions and player appearances.
Dec. 19-25, 2011
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Snow, Christensen & Martineau Celebrates its 125th Anniversary The prestigious law firm of Snow, Christensen & Martineau celebrates its 125th anniversary this year, a milestone that is indicative of its commitment to the community. The firm’s success and longevity has been built on a legacy of achievement for its clients, resulting in a practice that is local, regional and national in scope. To celebrate the milestone, the firm recently hosted a black-tie gala honoring the life of one of its founding fathers, U.S. Supreme Court Justice George Sutherland. The event was, attended by more than two hundred Utah lawyers, judges and community leaders. The celebration began with an 18 minute documentary emphasizing Sutherland's career, from his years as a student at the Brigham Young Academy to the founding of the law firm of Thurman and Sutherland now known as Snow, Christensen and MartiGeorge Sutherland neau. Following the documentary was a theatrical production, in which news anchorman Terry Wood interviewed actor Michael Bennett who portrayed Justice Sutherland. The evening concluded in the presentation of a bust of Sutherland commissioned by Snow, Christensen & Martineau to Chief Judge Ted Stewart. Upon completion of the federal courthouse expansion, the bust will be displayed at the courthouse to memorialize the achievements and legacy of Utah’s highest jurist.
The 125th anniversary was further marked by the firm giving back to the community. More than 100 employees of the firm, attorneys and staff, took time off work to help Salt Lake Valley Habitat for Humanity build a house for a family in Salt Lake City. The firm has a long history of giving to the community in a variety of ways, including donation of services, time and money. Since its beginning in 1886 the firm has grown from two to 55 lawyers. Offices of Snow, Christensen & In 2008 the firm opened offices in St. Martineau 1909 George, Utah to better serve its clients. Snow, Christensen & Martineau prides itself on its long-term client relationships, which the firm attributes as one of the reasons for its success.
Habitat for Humanity Service Project
Building on 125 years of trying cases, our trial lawyers have an exceptional record of resolution, including success before judges and juries. Few can match our experience.
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Dec. 19-25, 2011
The Enterprise
Will popular reformer Cuomo's plan tax the 1 percent?
Held aloft by the highest his office dispatched a short essay approval ratings of any gover- by the governor to newspaper edinor in America, Andrew Cuomo tors around the state arguing that New York’s current tax scarcely seemed to worry code is “unfair” to the about angering his state’s middle class and inhibits progressives, who were economic growth. disappointed by his refusal Rather than to extend a state surtax on the expiring surchargNew York’s millionaires. es, which Cuomo casBut in what may come to tigates for raising the be regarded as a watertaxes of families makshed moment in his tenure, Cuomo now plans a Joe Conason ing $200,000 a year — “hardly millionaires,” as sweeping tax reform that is he put it — his proposed expected to demand more, not less, from the state’s wealthi- new system would add higher est, while reducing the burden on brackets at the top end and lower the middle class — in the name of brackets in the middle. Although he didn’t offer details yet, his aims “fundamental fairness.” Recently, rumors of a shift in are clear enough: Cuomo’s anti-tax position began “First, we need to reform the to circulate, and confirmed when code in a way that creates jobs and
grows our economy. To do that, we need to put more money in New Yorkers’ pockets and inject it back in to the economy. There are also tax credits that can incentivize private-sector job growth. “Second, true reform for fairness has two factors: income brackets that fairly group income levels and progressive rates increasing with income. Simply put, to me ‘fairness’ dictates that the more you make the more you pay, and the higher your income the higher your rate. Also, you should be treated the same as people with similar incomes and differently from people who make significantly more, or significantly less, than you earn.” Fairly or not, Cuomo’s deci-
sion to seek higher levies on the state’s highest earners will be portrayed as a turnabout from his earlier position, which had cast him as a defender of Wall Street and big business against labor populism. Predictably enough, Republicans and the local tea party were swift to attack. Mike Long, chairman of the state’s Conservative Party (and longtime antagonist of Cuomo and his father, the former governor), denounced him as a flip-flopper. “He’s the one who made a principled stand,” said Long. “Whether you agree with that principled stand or not, once you break a principled stand, then one wonders what you can count on him for in the future.” The state’s tea party leaders said that Cuomo
should be cutting more spending instead of raising taxes. But Cuomo crushed the tea party-sponsored opposition to his campaign in last year’s election, against the midterm right-wing tide — and his opinion that the rich should be taxed more is at least as popular as Cuomo himself. If he succeeds in changing the tax system to encourage both higher employment and greater equity, he will have removed a potential obstacle to any future national ambitions he may cherish. Joe Conason is the editor in chief of NationalMemo.com. Copyright 2001 Creators.com.
Dec. 19-25, 2011
Gridlock to the rescue? Washington gridlock may tainly the prevailing dogma but it turn out to be the salvation of the is contradicted by history. Yet who reads history any more? Obama administration. Not only does gridlock allow If you look back through the president to blame Republicans history and compare what hapfor not solving the financial crisis pens when the federal government that his own runaway spending intervenes during a downturn in created, the inability to the economy with what carry out as much govhappens when the government intervention in ernment leaves the marthe economy as when ket free to work its own the Democrats controlled way back, doing nothboth Houses of Congress ing has by far the better means that the market can track record. First of all, this now recover on its own to Thomas country existed for a some visible extent before Sowell century and a half without the next election. Such a recovery the federal government would of course be credited as a intervening to save the economy. success of the Obama administra- No downturn in all that time was tion’s policies. With this theme as severe or as long-lasting as the being echoed throughout the pro- downturn that persisted throughObama media, enough voters out the decade of the 1930s, when might be sufficiently impressed to both the Hoover administration give the president a second term. and the Roosevelt administration The media and the intelli- intervened on an unprecedented gentsia seem obsessed with the scale. There was no Federal idea that government intervention is necessary to get the economy Reserve System to help — if that out of the doldrums. This is cer- is the word — during downturns
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before 1914. One of the few things on which liberal economists like John Kenneth Galbraith and conservative economists like Milton Friedman agreed was that the Federal Reserve made the Great Depression of the 1930s worse. Economists writing in a leading scholarly journal in 2004 concluded that government intervention prolonged the Great Depression by several years. Back in the 1930s, John Maynard Keynes cautioned President Roosevelt about demonizing and threatening business. Yet FDR, who said in his famous first inaugural address, “We have nothing to fear but fear itself,” spent the rest of the decade spreading fear to businesses and investors — and wondering why there was still mass unemployment, despite his record-breaking spending. Back in 1920-21, there was a sharp economic downturn, with unemployment spiking to 11.7 percent. President Warren G. Harding did nothing, except for cutting government spending. Yet
the economy quickly recovered and annual unemployment rates ranged from a high of 6.7 percent to a low of 1.8 percent in the rest of the decade. In the mid-1940s, as World War II neared its end, Keynesian economists were frantically trying to come up with postwar plans to prevent massive unemployment when 12 million people were to be discharged from the military and millions of civilians would lose their jobs when plants producing military supplies shut down. Two things prevented those wonderful Keynesian plans from being put into operation. First, the atomic bomb brought the war to an end much sooner than anyone expected. Secondly, the Republicans got control of Congress, producing the “do-nothing 80th Congress” that President Harry Truman excoriated during his 1948 election campaign. In short, plans for vastly expanded government intervention were thwarted — and the “problem” that such intervention
was supposed to solve did not materialize. There was a G.I. Bill of Rights for returning military veterans but this was a fraction of what liberal Keynesians had been contemplating. Anticipating postwar employment problems, former Vice President Henry A. Wallace wrote a book titled “60 Million Jobs,” advocating sweeping government interventions to achieve this otherwise unattainable goal. Wallace’s interventions never took place, but the free market created 60 million jobs anyway. A stock market crash in 1987 broke some records set in 1929. But Ronald Reagan did nothing, despite howls from the media, and the economy recovered — leading to 20 years of prosperity. Obama may yet be re-elected, as a result of gridlock. Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University, Stanford, CA 94305. Copyright 2011 Creators.com