The Enterprise - Utah's Business Journal

UTAH’S BUSINESS JOURNAL www.slenterprise.com

THIS WEEK

June 27-July 3, 2011

ITT to double size of Utah footprint in first quarter 2012

Watson to invest $44 million in expansion of Salt Lake City facility

Utah firm wins Shingo Prize

US Synthetic in Orem takes home coveted award.

See page 3.

Entertainment, dining venue coming to Ogden

The Copper Club is slated to open in August.

See page 4.

• Industry Briefs • See page 9.

The CH-53K Sponson, which ITT Integrated Structures has designed and fabricated. They will be used on the next generation heavy-lift helicopter for the Marines. Each aircraft has both a right and left sponson which house the fuel, landing gear, etc., of the aircraft.

There are approximately 50 composite detail parts that go into the assembly of a completed Sponson, all made in Salt Lake City.

By Barbara Rattle The Enterprise

ITT Corp., a New Yorkbased leader in the aerospace composites industry, is expected to announce in the next week or two the location of the first phase of a 15-year Utah expansion plan that will result in the addition of more than 2,700 new jobs and the company occupying more than one million square feet of space.

The first phase of the expansion will see the firm doubling its footprint in Utah, where it cur-

$1.25

Volume 40, Number 48

rently operates an approximately 130,000 square foot facility in the Salt Lake International Center.

The new location, for which several sites are under final negotiation, will vastly increase the company’s Utah payroll.

“We’re hiring aggressively right now. To begin the year we were a company with probably about 180 personnel,” said Mike Therson, ITT’s director of composite systems. “By the end of the year we’ll have over 300 and will

New Jersey-based Watson Pharmaceuticals Inc. plans to invest approximately $44 million in the expansion of its Utah facility at 577 Chipeta Way in Salt Lake City that researches, develops and manufactures transdermal patches and topical gels.

The expansion will include retrofitting approximately 20,000 square feet of existing space and the construction of approximately 17,000 square feet of future manufacturing space. The company anticipates the expansion could ultimately result in the addition of approximately 300 employees within the next three to five years.

The expansion supports a potential tripling in annual manufacturing

batch capacity to support future new products, including the generic version of the Lidoderm transdermal pain management product, which the firm may launch as early as mid to late 2012. It will also support Watson’s expansion of transdermal and topical gel products manufactured in Salt Lake City into select international markets.

“This expansion is more than just bricks and mortar,” said CEO Paul Bisaro. “We are investing in the creation of skilled manufacturing, packaging and quality control/quality assurance and other jobs that will create opportunities for the population of Salt see WATSON page 2

Ohio-based chain of Italian restaurants to enter Utah

see ITT page 2

The Enterprise launches online edition, mobile also available The Enterprise-Utah’s Business Journal launches our online edition today, June 27, 2011. Readers are now able to subscribe to either the print or online versions, or to both. The online edition has also been optimized for viewing on tablet and smartphone devices.

Each week, The Enterprise will upload a PDF version of the full newspaper to its website, www.slenterprise.com, where stories and ads will appear in the same format as in the paper. In addition, content will be viewable as individual articles in HTML5.

The online/mobile versions of The Enterprise contain premium

content not available in the print edition.

“We have long been aware that creatively presenting compelling, relevant and actionable content to our increasingly techsavvy business audience is a key to delivering value for both readers and advertisers,” said David Gregersen, president of The Enterprise. “This new service will allow us to more effectively connect both groups with the information, tools and people they need to grow their businesses.”

To create the new online services, The Enterprise has partnered with Matchbin, (www. see ENTERPRISE page 5

BRIO Tuscan Grille is slated to open in Murray's Fashion Place Mall this fall.

Roope, director of marketing.

By Barbara Rattle

Weekend brunch will be The Enterprise

BRIO Tuscan Grille, a served on Saturday and Sunday Columbus, Ohio-based chain of until 3 p.m., while there will be full-service, casual, white-table- a weekday “Tuscan Taster” bar cloth restaurants serving classic menu for $2.95 from 3 until 7 Italian food, will enter the Utah p.m. and again from 9 p.m. until market this fall with an approx- closing time. The company has an imately 9,200 square foot eat- award-winning children’s menu ery at the Fashion Place Mall in and will also feature an extensive catering menu, to-go and a wine Murray.

The restaurant will have a and cocktail list.

Interior features such as 1,300 square foot patio, indoor seating for 250, outdoor seating antique, hardwood Cypress floorfor 76, bar seating for 42 and be ing, arched colonnades, handopen seven days a week for lunch crafted Italian mosaics, antique see BRIO page 2 and dinner, according to Nicole

2

June 27-July 3, 2011

The Enterprise

BRIO

from page 1 doors, hand-crafted walls covered in an antique Venetian plaster, Arabescato marble-imported from Italy and sizable wrought-iron chandeliers will be included in the Murray restaurant. It will be open Sunday through Thursday from 11 a.m. to 10 p.m., and Friday and Saturday from 11 a.m. to 11 p.m. in addition to Saturday and Sunday brunch until 3 p.m.

According to Roope, the average lunch check is $15, with entrees ranging from $10 to $18, while the average dinner check is $23, with entrees ranging from $12 to $28. Menu items include wood-grilled salmon salad, spicy shrimp and eggplant, quattro, grilled pork chops, chicken “under the brick,” lasagna bolognese al forno, lobster ravioli, pasta alla vodka, beef carpaccio, crab cakes

and eggs benedicto.

“Salt Lake is a vibrant city that has the demographic and retail mix that works well with the BRIO brand,” Roope said in an e-mail. “We feel BRIO will be a unique addition to not only Fashion Place but the marketplace.”

She said Salt Lake could potentially support more than one BRIO location, but for the time being, the company is putting all its efforts into the opening of the Murray location.

BRIO Tuscan Grille is held

by BRAVO BRIO Restaurant Group, which owns and operates 86 high-volume, full-service restaurants in 29 states. In addition to BRIO, it operates BRAVO! Cucina Italiana, where all cooking is done in full view of guests.

BRAVO BRIO (then called BDI) opened its first BRAVO! restaurant in Columbus, Ohio in 1992.

WATSON from page 1

Lake City and the surrounding areas. We are delighted to have Governor Herbert join us in commemorating Watson’s significant investment in the future of our Company and in the future of the Salt Lake City community.”

Watson’s Salt Lake City facility is the headquarters for the company’s Global Brands research and development operations, with approximately 175 professionals involved in product development. In addition, the Salt Lake City facility manufactures and packages brand and generic transdermal patch and topical gel pharmaceutical products, and currently employs more than 200 people in manufacturing and operations.

THE VAST PLAINS OF NORTH DAKOTA GO BOOM!

In 2005 EVCO house of hose made a change in direction and began to explore opportunities in the oil and gas industry. This started close to home in Utah with developing business in Wyoming and Vernal, Utah. Over the next nears this business expanded further into Wyoming as well as Colorado, New Mexico and California.

In the spring of 2011, after being acquired by Lewis-Goetz, EVCO made its largest entry into Oil and Gas with a dedicated 10,000 square foot branch in Williston N.D. This location services companies working primarily in the Bakken oil field. The Bakken field, discovered in 1951, covers Northwestern North Dakota, Eastern Montana, and north into Saskatchewan, Canada. The Bakken remained largely underdeveloped until modern horizontal drilling as well as hydraulic fracturing techniques made unlocking the oil from the shale formations profitable.

Oil and Gas has been a natural fit for EVCO, and Lewis-Goetz. We work with manufacturers like Goodyear in developing 500psi chemical hose for stimulation companies, 400psi frac hose with an abrasion resistant cover, custom metal hose manufacturing facility for nitrogen companies and rotary hose products for drill rigs. Aside from hose, there is expertise from many Lewis-Goetz locations across the United States and Canada in frac pump rebuilds, air compressor rebuilds for cementing companies and conveyer belts for frac sand. All make EVCO and Lewis-Goetz a strong partner in the fast, high pressure world of oil and gas.

ITT

from page 1 continue to grow into next year.”

It is highly likely the new facility will be located in an existing structure or structures, as plans call for it to begin operations in early 2012, Therson said.

“In order to accommodate what we need to do we actually have to prepare the facility, so through the remainder of this year we’ll be going through preparation. The goal is in January of next year that we can start moving product lines into the facility. Obviously in our business we have to go through a level of facility qualification and so forth, so we won’t be starting to build parts right away; it’s really pending our customers’ concurrence and approvals. But that will start in the first quarter of next year.”

The second phase of ITT’s expansion will consist of the company occupying another 500,000 square feet, he said.

“The considerations are open as to where we go, but it will be in Utah,” Therson said.

ITT traces its roots back to 2007, when it acquired Utah-based EDO Corp., which was founded in 1969. In the 1990s, ITT initi-

ated a strategy to focus on larger and more complex external aerospace composite structures. ITT’s current composite production includes several major parts on the CH-53K helicopter, Sikorsky Aircraft’s composite heavy-lift helicopter to support the U. S. Marine Corps, and more than 250 composite parts for all versions of the F-35 “Lightning II” Joint Strike Fighter.

“Composites are growing in the industry for key considerations,” Therson said. “One that’s always been on top of the curve is weight. It’s said that for every pound lost you can save 500 gallons of fuel in one year. Carbon fiber is a very high-strength material. Virtually everything we do today utilizes carbon fiber. We can orient those fibers in a specific direction to give the particular part more strength in the direction that’s required, whereas a metal component, because they have equal properties throughout, you basically have what’s called isotropic, or the same properties, throughout the entire material. So those are some of the reasons that you can design structure to be more weight effective. The other thing that people realize with composites is that they are more impervious to the environment.

They tend not to corrode, they tend not to require the same level of maintenance as metals.”

In the early 1990s, when Boeing first delivered the 777 aircraft, it was about 22 percent composites by weight, Therson said. Boeing’s present 787 aircraft — which is mimicked by the airbus A350 — is approaching 50 percent.

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The Enterprise

June 27-July 3, 2011

Utah-based US Synthetic wins prestigious Shingo Prize

Orem-based US Synthetic Corp., a provider of polycrystalline diamond cutters (PDCs) for oil and gas exploration, has received the world’s most prestigious award for operational excellence, The Shingo Prize.

US Synthetic was honored as an enterprise award recipient, recognizing excellence across all of its products and brands including US Synthetic (drill bit inserts), USS Bearings (process-lubricated bearings), USS Wire Dies (wire drawing dies), Brady Mining (underground mining tools) and Suncrest Diamonds (natural gem diamond color enhancement).

US Synthetic is the first and only company in the upstream oil and gas industry and in the industrial diamond industry to receive the award.

Called “the Nobel prize for manufacturing” by BusinessWeek, The Shingo Prize was established in 1988 for the purpose of educating, assessing and recognizing world-class companies for creating a culture of continuous improvement through employee engagement and effective leadership. The Shingo Prize was named for world-renowned industrial engineer Shigeo Shingo, who distinguished himself as one of the leading experts in improving manufacturing processes.

“In 2008, The Shingo Prize qualification criteria became much more rigorous and focused on behaviors and principles across the enterprise, rather than just in operations,” said Bob Miller, executive director of The Shingo Prize. “US Synthetic is one in only

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Employees at work at US Synthetic in Orem. a handful of companies to receive this prestigious award since the bar was raised.”

“Unlike many companies that adopt continuous improvement programs to cut costs and regain a competitive financial position, US Synthetic started its Lean journey with a focus on enterprise excellence in serving our customers and delivering value through rapid customization, innovation, ontime delivery and superior quality,” said Rob Galloway, president and CEO of US Synthetic. “Our Lean efforts come from a desire to continually improve what we do, to engage the minds of all our people throughout the entire organization, to effectively deploy company strategy and to stay ahead of our customers’ expectations from both a capacity and a technology perspective.”

As an enterprise, US Synthetic has averaged 23 percent growth in annual revenues since beginning its Lean journey in 2005. This growth would

not have been possible without continuous improvement efforts to free up capacity and space for growth, and the ongoing support of its parent company, Dover Corp. Employee head count over the same period has risen only 16 percent annually, and building space has only grown by 17 percent annually.

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Magazine distributor opens Utah facility

Source Interlink Distribution LLC, a Florida-based company that is part of a group of firms that distribute and own magazines and other periodicals, is setting up a presence in Utah.

The firm has leased about 4,800 square feet at 2913 W. Parkway Blvd. in West Valley City where operations should be in full swing by early July.

Tom Ramage, director of corporate real estate, said the facility will not immediately be a major source of employment or economic development, but will provide the company with a “toehold.”

Source Interlink distributes well over 2,000 titles, including popular magazines ranging from People to Sports Illustrated, while a sister company owns about 70 magazine titles, including Motor Trend. The firm has about 65 distribution locations nationwide.

Source Interlink leased its West Valley City space with the

assistance of Bob Mills and Travis Healey of Commerce Real Estate Solutions.

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 Web site: www.slenterprise.com.

For advertising inquiries, e-mail david@slenterprise. com. To contact the newsroom, e-mail barbara@ slenterprise.com. Subscriptions are $52 per year 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.

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The Enterprise

June 27-July 3, 2011

Event, entertainment and dining venue to open in downtown Ogden

By Barbara Rattle The Enterprise

The Berthana Building in downtown Ogden will soon become home to The Copper Club, an event, entertainment music and music venue owned by the operator of a now-shuttered Ogden club called The Sports Page.

“It’s been vacant for a long time but it used to be a major centerpiece for downtown Ogden social activities,” Ogden City business development manager Steve Fishburn said of the building.

“We really don’t have an upscale entertainment/wine bar/restaurant type of thing in downtown Ogden.

It’s very important that we have that kind of venue when we’re recruiting people from out of state and out of the country. It will fill a tremendous need in our community.”

The Berthana Building, located at 315 24th S., was constructed in 1915 by the Thomas

D. Dee Co. and the David Eccles estate. It has one level below ground and two above.

Lynda Huddleston will own and operate The Copper Club along with a team of partners.

While she could not be reached for comment, both Fishburn and The Copper Club’s website provided additional details about the new venture, slated to open in August.

Renovations are now under way.

The Copper Club will feature three separate venues within 12,000 square feet on the basement and ground floor levels. The Main Floor @ The Copper Club has been designed to provide dining during the day and special events, entertainment and a gathering place in the evening. It will have a capacity for 300 patrons. Plans call for local, regional and national musicians, entertainers and comedians to perform at the site.

There will be a 20-foot bar, waterwall feature and VIP reserved

Allegiance closes $12 million round of series B financing

seating areas.

Upstairs, adjacent to The Main Floor, will be the Signature Room. It will be furnished with a fireplace and greenery, will have a private host and will offer a quiet, secluded area for the corporate/ business market to enjoy fine wines and dining. The facility will have space for special events and private parties.

On the basement level, The Sports Page @ the Copper Club will feature large-screen HD televisions, pool tables, dartboards, shuffleboard and ping-pong tables and will offer upscale bar food.

No city funds were used to help Huddleston or the California owners of the building with the new venture. Fishburn said Huddleston’s long-range plans call for her to take over the structure’s top level as well. It was once used as a ballroom with a capacity for roughly 850 people, he said.

Allegiance, a South Jordanbased provider of VOCi (Voice of Customer Intelligence) technology and services, has closed a $12 million round of series B funding, led by new investor El Dorado Ventures with participation from Rembrandt Venture Partners and current investor Allegis Capital.

Allegiance will use the investment to accelerate the development of new product capabilities and services to automate data analysis and delivery of customer insights. The company also plans to expand its sales and marketing efforts to secure Allegiance’s position as an emerging leader in the growing Voice of Customer and Enterprise Feedback Management markets. Due to its leading position in the VOC industry, Allegiance received term sheets from some of the most prestigious VC firms in Silicon Valley.

The firm helps companies analyze and apply Voice of Customer (VOC) data to make decisions that improve their busi-

ness. The company has experienced fast growth and growing demand for its cloud-based VOC solution that turns real-time customer and employee feedback into actionable business intelligence.

Enterprise customers such as EMC Corp. and JetBlue Airways have selected Allegiance over others due to its ability to combine customer data with operational data into a single, integrated platform.

“Companies are facing a mountain of customer data, and Allegiance understands the challenges they face in turning it into actionable information.

Allegiance’s approach, vision and strategy have set it apart, creating strong demand for its products,” said Douglas Schrier, general partner, Rembrandt Venture Partners.

Allegiance ranked No. 5 on the Inc. 500 list of fastest-growing private software companies in 2009, and was named a Top 10 by Software 500 in 2010.

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The Enterprise

June 27-July 3, 2011

ENTERPRISE from page 1

matchbin.com) a national leader in the development of content management systems and services for media companies. Matchbin is located in Bountiful.

“With Matchbin’s help, The Enterprise has begun the transformation from a print newspaper operation to a multi-platform media company that delivers content and advertising in print, online and to mobile devices,” said Barbara Rattle, editor of The Enterprise. “Matchbin is not only providing us with a powerful content management system, but they are also giving us the training, advice and support needed to fully leverage that platform for our readers and advertisers.”

“Building the online and mobile editions of The Enterprise is part of our long-term strategy to provide new information, products and services that take full advantage of the new media technologies available,” Gregersen said.

One of the new services that is the foundation of the online and mobile editions of The Enterprise

is a unique Business Directory that provides listed organizations with specially designed tools for increasing their page rankings in the major search engines.

The listings can be upgraded to micro websites or special landing pages that work together with firms’ existing websites and make it easier for them to be found by customers, suppliers and potential partners.

“Since most of the visits to websites in the U.S. come from search engines of one kind or another, optimizing a website to make it search engine-friendly is a critical piece of a company’s online marketing strategy to reach people at the moment they are searching for something,” Gregersen said.

“The importance of a search engine marketing strategy for businesses is borne out by the statistics. For example, in 2010, over 64 percent of Americans used Internet search as the primary way they search for local businesses.”

Using The Enterprise micro sites, Utah companies can also drive powerful social media and mobile marketing campaigns.

Some of the premium services that will be offered to adver-

tisers and subscribers through the online/mobile edition of The Enterprise include:

• A special online real estate classifieds section;

• Access to white papers, special reports and links to professional development resources;

• Innovative multimedia advertising opportunities;

• A space where company blogs can be created and displayed;

• Notices and alerts of events such as conferences, meetings and seminars;

• Online purchasing of e-books, white papers and other business products and services;

• Links to potential networking and business opportunities; and

• IPad, iPhone and Android access to The Enterprise content.

The Enterprise will be available online beginning at 7 a.m. on Mondays. If a Monday falls on a postal holiday, content will be available beginning at 7 a.m. the following day.

The cost for a print only subscription is $65 per year. Online only is $55 per year. Print and online together is $75 per year.

Pacificorp has begun construction on a new combined-cycle natural gas production turbine power plant on the former Geneva Steel site in Utah County. Dubbed Lake Side 2, the facility will be the second of its kind on the property. The first plant (pictured) was completed in the summer of 2007. The plant will feature two natural gas combined-cycle combustion turbines and generators, together with a steam turbine generator, to produce electricity from the exhaust heat of the combustion turbines. Lake Side 2 will generate approximately 637 megawatts, which is equivalent to the needs of approximately 326,000 typical homes. CH2M HILL is general contractor. The construction workforce is expected to peak at about 500. Siemens Energy will supply power island equipment for the project.

How to get The Enterprise online and mobile editions

There are several ways that you can view The Enterprise online and mobile editions:

1. Visitor

As a visitor you are free to view any part of the website that does not require registration or a subscription.

2. Registered Guest As a registered guest you can opt-in to a variety of content and services, such as receiving e-mail notices and alerts, posting calendar events and participating in the comments on the website. To register:

Step 1: Go to www.slenterprise.com.

Step 2: Click on Sign In/ Register in the upper right corner of the home page.

Step 3: Select “New here?

Get a new account” or “Click here to register for an account.”

Step 4: Fill in the requested information.

Step 5: Click on “Sign me up.”

3. New Subscriber

As a subscriber you have full access to the print and/or online and mobile editions of The Enterprise, the opportunity to purchase items at a discount and access to premium content and services. To subscribe:

Step 1: Follow the first five steps in No. 2, above, to become a registered guest.

Step 2: Click on “Subscribe” in the top left hand corner of the home page or “Subscribe Today.”

Step 3: Select your subscription.

Step 4: Make credit card purchase.

4. Current Subscriber

If you are already a current subscriber to The Enterprise, for a small upgrade fee you can gain access to all the premium online content. To add digital editions to your print subscription:

Step 1: Go to www.slenterprise.com

Step 2: Click “Already a Subscriber?”

Step 3: Select your upgrade package.

Step 4: Fill out form.

Step 5: Select username and password.

Step 6: Submit form.

Business lending is our business.

Member FDIC

John Walton SVP/Commercial Loan Center Manager 801.924.3633 jwalton@bankofutah.com

The Circulation Department receives the form and will contact you by phone or e-mail to verify account information and make payment arrangements.

If you have questions, please call Sarah Ujifusa, director of circulation, at (801) 533-0556 ext.

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Target Interact rebranding, will launch services for law firms

By Barbara Rattle The Enterprise

Target Interact, a Salt Lake City-based provider of customer contact management centers, is in the process of rebranding and will consolidate its offices no later than Aug. 1 in the Newhouse Building in downtown Salt Lake City.

The firm has leased the second floor — about 9,000 square feet — of the Newhouse Building and will grow its staff there from 13 to 51, according to CEO Roger LeFevre. Currently, the company has offices at 299 S. Main St. and 50 W. Broadway. An operations center in North Salt Lake will be retained as a fulfillment center, he said.

Target Interact is in the process of rebranding itself as VitalBGS (BGS standing for business/government services) and SizzleFactor. The former, LeFevre said, will cater to corporate and middle market companies, while SizzleFactor will be focused on companies in the film, fashion and luxury industries.

But a new focus that will perhaps have the biggest effect on the company will be the creation of a business unit serving law firms by providing phone access to associate attorneys and paralegals rather than customer service or technical support agents.

“We’ll be running the back

end of the law office,” LeFevre said. “It’s basically going to be a law firm run by, for lack of a better word, a corporation that renders services to law firms. Instead of a law firm hiring personnel to work in their offices, they would outsource it to us. Those that fit into what I would categorize as statutory law practices — bankruptcy and immigration, for example — would be the best fit.

“When you need your taxes done, you can go to H&R Block or Liberty Tax Services because all of those people are basically performing the services in a rote matter. They’re doing what the rules require under the Internal Revenue Code. Or you can use TurboTax. In the most simplistic descriptor fashion, we’re going to be the H&R Block of bankruptcy law. I think you’re going to see that roll out nationally over time.

It’s going to grow exponentially over time. That’s just one vertical market for us.”

Target Interact, which currently specializes in government contracts and in building endto-end e-commerce sites, was founded in 1983 when it took over Alert Answering Service, which became Alert Communications and later Target Teleservices. At one point, the firm owned all the Alert Cellular stores.

Utah ranked No. 1 for economic outlook

Utah ranks first among the states for its economic outlook and 14th in its ability to drive economic growth and create jobs, according to the fourth edition of the awardwinning Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index.

ALEC is the American Legislative Exchange Council.

To obtain the No. 1 economic outlook ranking, the study examined 15 important state policy variables that reflect state and local rates and revenues and any effect of federal deductibility.

Utah 'was tops in part because it does not levy an estate/inheritance tax, has a state minimum wage of $7.25 (the federal floor) and is a right-towork state (workers have the option to join or support a union).

The firm also did well in terms of personal income tax progressivity or change in tax liability per $1,000 of income. That tax did not rise in 2008, 2009 or 2010.

In terms of economic performance, Utah ranked No. 14. the rank is a historical measure based on a state’s performance in personal income per capita, absolute domestic migration and nonfarm payroll employment. The state’s personal income per capita

7

The Enterprise

June 27-July 3, 2011

rose 35.2 percent between 1999 and 2009, while 55,799 people migrated to the state between 2005 and 2009 and Utah’s nonfarm payroll employment rose 11.8 percent between 1999 and 2009.

Utah ranked third in terms of population growth between 2000 and 2010 (up 23.8 percent), top marginal personal income tax rate (5 percent), 2000-2009 average state and local tax burden by percentage (9.89 percent) and 2000-2009 tax and local tax burden by dollars ($3,103.95).

Business lending is our business.

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1-800-CONTACTS launches eyeglass e-tailer, Glasses.com

The company that first transformed the way consumers buy contact lenses now changes the way to buy prescription eyeglasses with the unveiling of Glasses.com, by 1-800 CONTACTS, Draper.

“For most consumers, buying prescription glasses is frustrating,” said Jonathan Coon, founder and CEO of 1-800 CONTACTS. “You typically can’t see what you’re trying on and have a limited frame selection. Plus, glasses are expensive. The introduction of Glasses. com will transform the customer experience and make the process of buying glasses easy, convenient and fun.”

Glasses.com is being introduced as a new brand and distinct website because the processes of buying glasses and contacts are very different. Eyeglasses have a style and fashion element — people want to see what they look like before making a purchase — and each pair is custom-made. The Glasses.com site offers tools that address these consumer needs and enhance the buying experience.

The tools include a “virtual tryon” feature so customers can try on frames they like before deciding which look feels just right, virtual sharing of top frame choices that can be e-mailed to family and friends or posted on Facebook so they can share the decision with people they trust, and live online chat with opticians to address any remaining questions about eyeglasses frames, lenses, coatings or

the patient’s prescription

Glasses.com will offer more than a dozen of today’s most popular frame brands including Oakley, 7 for All Mankind, Modo, Smith Optics, Jones New York, and others. For lenses and coatings, customers will be able to choose from SOLA Single Vision lenses, Transitions lenses, and Teflon lenses Anti-Glare coatings from Carl Zeiss Vision.

Shipping will be free, both ways. Pricing for frames, lenses and lens coatings will be inclu-

sive. Custom glasses will be delivered within two weeks of ordering. If the same pair of glasses is offered anywhere at a lower price, Glasses.com will match it. There will be a no risk, 30-day, noquestions-asked policy. A nationwide network of opticians will be utilized.

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At The Gateway, we believe that when you work hard, you 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.

8

June 27-July 3, 2011

The Enterprise

Real Estate Matters Legal Matters Take the time to select the right property manager

Any business or individual with a substantial investment in real estate knows and understands the commitment, both in time and money, involved in managing and maintaining properties. This commitment has increased recently due to economic forces driving down the cost of real estate and lenders repossessing properties.

To derive the most value from these properties, either through leasing, selling or other use, it is Yvonne vital that owners maintain and position properties to appeal to their target market.

A property management specialist can ensure that the properties goals are reached and that it is managed and maintained to the highest benefit of the owner.

Many real estate owners attempt to manage their own properties, or hire a cut rate property manager that does not possess the required licensing, knowledge and

HR Matters Legal Matters

adequate levels of insurance necessary to safely and profitably operate commercial real estate.

A quality firm will have property managers with the highest levels of education and experience that will protect property owners from costly lawsuits and accounting errors, and reduce the risks of owning real property.

A property manager acts as a liaison between the owner or landlord and the tenant or potential buyOlson ers. A property manager will respond to any property maintenance issues, manage the accounts and finances of the property, negotiate lease renewals and, if necessary, initiate litigation with tenants, contractors or insurance agencies.

Through key benchmarking tools, comparative analysis and closely monitoring building operating expenses, property managers add quantifiable value to a client’s assets. Continuous enhancement

should be part of a property manager’s strategic approach, including: capital improvements, building renovations and tenant finish.

A property manager’s objective is to increase the value of property over the short and long term.

To ensure the effective and efficient management of their properties, many owners look to either contracting with a thirdparty manager or property management group. Because these experts will be working on behalf of the owner, it is vital the property managers represent the owner’s best interests. There are various accreditations and certifications a property manager can attain to demonstrate knowledge and skills in this field. A Certified Property Manager (CPM) is recognized as an expert at real estate management and is at the top of the profession. Accredited Commercial Manager (ACoM) is a designation earned by a professional commercial property management company through the Institute of

Real Estate Management (IREM).

The AMO accreditation recognizes excellence among real estate management firms. Only those firms that achieve the highest level of performance, experience and financial stability and have a CPM in an executive position can earn the AMO credential. Other designations given in the field of property management are through the Building Owners and Managers Association (BOMA), and include Real Property Administrator (RPA) and Facilities Management Administrator (FMA), each showing high levels of expertise and ability.

When searching for a firm to manage real estate and other property, owners should consider the goals they have for the properties and their business as a whole.

Finding a property management group that can be a partner in achieving these goals should be of the utmost importance. If an owner is heavily invested in commercial real estate, they should

find a firm that focuses on this same type of property, creating synergies that are beneficial to the property owner.

A property management group that offers complimentary services, in addition to property management services, can help owners reduce the number of vendors associated with their properties and create a one-touch solution for property management and maintenance. Additional services offered by some property management groups include facilities maintenance, construction management, property accounting, receivership and more. Just as property owners should verify the qualifications of a property management firm, they should also verify the vertical services offered and the vendors used. By working with groups and vendors who are OSHA and EPA certified, owners will reduce the potential for future legal issues and associated costs. see PROPERTY page 13

Office, Industrial and Retail

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The Enterprise

June 27-July 3, 2011

ACCOUNTING • Connie Clements, a teacher

at East High School, has been recognized by the Utah Association of Certified Public Accountants Foundation for her achievements in accounting education at the high school level. Clements received the “Champion of the Profession Award” and a $1,000 cash award.

Clements teaches concurrent enrollment accounting and computer technology, serves as a business department chair and started an Academy of Finance program, a college preparatory program for high school financial students in her school.

BANKING • In the wake of the earthquake

and tsunami disaster in japan, the University Credit Union set up a donation site for members to make donations to help those afflicted in Japan. In-branch member donations totaled $7,138. Funds were donated to the local Red Cross chapter.

COMPUTERS/ SOFTWARE

• LANDesk Software, a South Jordan-based global leader in systems lifecycle management, endpoint security and IT service management, has been named by Info Security Products Guide, sponsors of leading conferences and expos worldwide, as a winner in two categories for the Best Deployment Scenario Awards. The deployment of LANDesk Security Suite at Radiant Systems won in the Endpoint Security Solution category, and the deployment of both Security Suite and LANDesk Cloud Services Appliance at Gwinnett Hospital System won in the Enterprise Management Category. The awards recognize security vendors with advanced, groundbreaking security solutions that help set the bar higher for others in all areas of information security. LANDesk solutions were selected based on real-world deployments that are making a positive impact on security.

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• Industry Briefs •

9

sated them fairly. Holland site, multi-family, office, industrial investors that comprise the Global CONSTRUCTION and Hart was one of 32 firms in and land acquisition transactions.

Entrepreneurship Delegation • Construction is under way for a pedestrian tunnel under 1300 East just south of 2100 South, and will connect with Sugar House Park, Hidden Hollow and the Sugar House business district.

The tunnel is part of the Parley’s Trail and will provide county residents with more alternatives for walking and biking. When fully completed, Parley’s Trail will be about eight miles long and will be the major east-west connector trail through Salt Lake City and South Salt Lake City. Currently, the trail reaches from Tanner Park and connects with the Bonneville Shoreline Trail. The cost of Phase IV of the trail, $4.2 million, was paid for by federal transportation funds and Salt Lake County, along with private donors.

• Riley Duke, employee of R&O Construction, a commercial construction company based in Ogden, has earned the LEED Green Associate professional designation from the Green Building Certification Institute. A LEED designation signifies that the individual has the knowledge of green principles and practices and are educated in Leadership in Energy and Environmental Design. Riley is an estimator with R&O and joined the company’s ranks in July 2010.

EDUCATION/TRAINING • The Living Planet

Aquarium in Sandy is celebrating its seventh year in business.

The aquarium features 66 exhibits, 1,407 animals and 313 species such as sharks, rays, seahorses, sea jellies, eels, starfish, amphibians, trout and other fresh water species.

Since it opened in June 2004, the aquarium has had more than 1.4 million visitors.

FINANCE • Dave Young of Paragon

Wealth Management, Provo, has been named a 2011 Preferred Service Provider in recognition of his work with area health care executives and physicians. Every year US Medical Specialties, a national medical consulting firm, recognizes excellence in service to the medical community. The program provides medical professionals with a recognizable national icon that assures specialized services and understanding of the needs of physicians and their families. Young is one of fewer than 500 financial advisors nationwide that has received the designation.

INTERNATIONAL

• Arthur E. a Salt Lake area and philanthropist, named one of 13 entrepreneurs and

Benjamin, executive has been American early-stage

(GED). The Entrepreneurship Delegation will be hosted by the Global Entrepreneurship Program Indonesia, and will feature Benjamin speaking on his expertise in various entrepreneurial initiatives, the media and education industries. The team will visit Indonesia July 19-24.

LAW • Steven P. Shurtz, manag-

ing partner of the Utah office of Brinks Hofer Gilson and Lione, an intellectual property firm, has been elected to the position of secretary of the Intellectual Property Section of the Utah State Bar Association. Shurtz has been active in the Utah Bar IP Section since 2003 and has served on the IP Section planning committee for the last two years. He will hold the position for a one-year term before advancing to vice chair and then in 2013 to the chair position within the leadership of the Utah State Bar IP Section.

• R. Jeremy Adamson has joined the litigation practice at the law firm of Parr Brown Gee and Loveless, headquartered in Salt Lake City. Adamson formerly worked as counsel in the corporate legal department for a mortgage servicing company, where he managed litigation matters nationwide involving various types of claims, including claims arising from the Real Estate Settlement Procedures, Truth in Lending Acts and other consumer protection statutes, breach of contract claims, title disputes and fraud suits. He also worked as an extern for the United States Attorneys Office in San Jose, Calif. He earned his J.D. From Cornell Law School, and is licensed to practice in Utah and California.

• Micha Johnston has joined the law firm of Strong and Hanni as marketing and business development director. Johnston will manage and provide leadership for the firm’s marketing, public relations, business development and client relationship programs and initiatives. He will also work directly with the firm’s executive management, practice groups and attorneys at both the Salt Lake City and Sandy offices. He has more than 12 years of experience in the marketing and advertising industry. He was previously with ThomasArts, where he served as senior account manager.

• Holland and Hart, a law firm with offices in Salt Lake City, has earned a Gold Standard Certification from the Women in Law Empowerment Forum.

The certification recognizes firms that have integrated women in top leadership positions and compen-

the country that met the qualifying criteria. To qualify for the certification, law firms had to meet at least three of the following six criteria: women account for at least 20 percent of equity partners; women represent at least 10 percent of firm chairs and office managing partners; women make up at least 20 percent of the firm’s primary governance committee; women represent 20 percent or more of the firm’s compensation committee; women make up at least 25 percent of practice group leaders or department heads; and women represent at least 10 percent of the top half of the most highly compensated partners.

MEDIA/MARKETING • Jan A. Coleman, former marketing director at Beehive Credit Union, has joined the KUED Channel 7 development department in corporate support.

In her new position she will work with local companies to meet their community involvement needs through the support of KUED programming. Coleman has 25 years of experience in marketing, advertising and corporate contributions.

REAL ESTATE • Red Ledges, a private rec-

reational mountain community near Park City, is launching two new luxury home models in The Mountain Villas, the Cahoon and Reynolds designs. The Cahoon two-story model and the Reynolds rambler range from 2,500 to more than 3,800 square feet. Both models feature four bedrooms and 3.5 bathrooms. The Mountain Villas are being designed and built by Ivory Homes of Salt Lake City.

• Green River Capital (GRC), a Utah-based REO asset management and loss mitigation provider for mortgage servicers, investment firms, credit unions and banking institutions, will expand its REO services to the commercial mortgage industry. GRC’s commercial REO services include the disposition of assets, property maintenance, lease verification and property valuation. GRC also handles evictions, repairs and offers full title services. Along with its sister companies Green River Financial and Infinity Valuation Services, a BPO firm, GRC works in conjunction with servicers to manage the entire default process.

• Vickey Walker has joined the Salt Lake City office of CB Richard Ellis (CBRE), a national commercial real estate firm, as a client service specialist for the Craig Thomas and Eric Gustafson team. Walker has experience as a commercial real estate escrow officer, and has worked with multi-

In addition, Hank Nelson has been hired as an assistant real estate manager in the Asset Services division of CBRE. Nelson holds two bachelor’s degrees and is currently enrolled in the University of Utah’s master of real estate development program.

RETAIL • The United States Postal

Service is opening a full-service contract post office inside the Harmons Grocery Store at Brickyard Plaza, Salt Lake City.

It will have the same look and feel as other post offices and offer extended operation hours from 9 a.m to 8 p.m seven days a week.

Harmons is looking to provide full-service contract post office at more store locations when possible.

TRANSPORTATION • C.R. England, a Salt Lake

City-based global transportation provider, received the Transplace Sustainability Excellence Award at the 2011 Transplace Shipper Symposium. C.R. England was given this award based on top achievement, including status as a Transplace Platinum Carrier, recognition from EPA’s SmartWay Transport Partnership and company sustainability accomplishments.

Transplace is a non-asset based third-party logistics provider offering manufacturers and retailers the optimal blend of logistics technology and transportation management services.

• Lawson Products Inc., an Illinois-based industrial distributor of more than 300,000 maintenance and repair solutions, was awarded a three-year contract to supply all of the Utah Transit Authority’s (UTA) fastener needs. Lawson Products will provide a minimum of 2,500 different fastener products.

TRAVEL/TOURISM • Visit Salt Lake (VSL)

gave the Tourism Achievement Award to the creators of The Utah Compact and Dennis Copyak of Le Bus during its second quarter board of trustees meeting. The award honors members and community organizations for outstanding efforts in supporting the mission of VSL and the tourism community of Salt Lake County.

The Utah Compact was developed by groups and individuals who were concerned about the tone of Utah’s immigration discussion. Copyak has been an active member of the Salt Lake tourism community, working to further the mission of VSL as well as statewide tourism efforts.

10

June 27-July 3, 2011

The Enterprise

DesignMatters Matters Legal Providing a clear picture for your business

When planning new spaces ning contemporary lobby to rave or even renovating existing ones, reviews, but sadly there was just no clients are typically very enthusi- money left for artwork. (Although astic and involved in the selection I did notice the CEO had a new of appropriate paint, stone, car- S-Class Mercedes in the parking pet and usually even furnishings lot.) The receptionist grew tired of staring at blank walls — but sadly the item most so she started to bring often overlooked is artwork. personal “treasures” This concept seems to elude from home. Evidently most people, and is a travshe liked kittens. Lest esty.

I have to endure pro Unfortunately one of tests from PETA, no the last things usually suganimals were harmed gested to a client as their when I yanked the project nears completion is Limited Edition “Furry artwork/accessories, and by then most of the funding for LaMar Lisman Kritters Collection” off the lobby walls. the project has been spent (or As design profeshas gone over budget.) This inevitably leads to looks of shock sionals it is our responsibility to and awe when we suggest finish- include an amount in the overall ing the space with some quality project budget for art and accessoartwork that is appropriate to the ries. If your designer is not doing client’s business. Tragically the that, you should be concerned and walls either remain bare, or worse, find out why. But I have found well-meaning employees will drag that even when it is included as inappropriate things from home to a project budgetary line item it is often one of the first things to liven up the space.

I have seen this happen on get crossed out. “We’ll do that a number of otherwise successful later” is typically what we hear. projects. We once designed a stun- And then of course “later” never

happens.

Resist the urge. Budget the money.

Appropriate artwork makes every facility and business more welcoming and pleasurable for those who use it, gives the public greater access to works of art and can often help support local arts communities. A prominent Utah financial institution has been purchasing fine works of original art from local artists for decades. Not only does the artwork enliven and refine their offices, it also provides a wonderful backdrop for incredibly talented artists living amongst us. And unlike those “investment” mass-produced paintings they sell in galleries in Hawaii and La Jolla, this art WILL actually increase in value over time.

But let’s just say you don’t have or can’t justify the funds to purchase original artwork for your offices or business. I get it. Times are tough and the last thing your reduced workforce wants to see is an original Picasso hanging on the wall as they walk out the door with their pink slips in hand. You

also need to be cautious with the message you are sending to clients and prospective business. The goal should be to look credible and established while keeping a level of good taste without appearing extravagant.

The art and framing industry is keenly aware of current budget restrictions and has responded accordingly with a great variety of affordable options in a variety of genres. Prints, posters and gallerywrapped canvas can go a long way to enliven a workspace. Art need not always be original or expensive to create impact and beauty.

In fact I often find the simplest artwork and accessories to be best.

Think of corporate art as the “pin on the dress” that makes the outfit sing, or how a dashing and colorful tie can enliven a boring grey suit. The impact can be dramatic — and energizing.

I typically recommend our clients spend their limited resources on a few prominently placed pieces of large-scale artwork that can really make a bold statement.

This is a much better use of lim-

ited funds than spreading several small pieces of artwork throughout a large space. This is a complete waste of money and you still won’t be happy with the results.

“Go big or go home” should be your mantra.

Artwork should be selected with your corporate image in mind. Do your clients view you as progressive, innovative and hip?

Or would you prefer they think of you as established, successful and traditional? Both viewpoints have merit and should be considered. I typically like to see a continuity of art that flows through both public and private spaces. Mixing different genres of art can sometimes come off confusing and hodgepodge. Unless you have someone consulting you with a keen eye it is best to keep consistency in the subject matter. Placement of the right art in the appropriate location is also key.

Landscapes, nature photography and soft abstract art can provide lovely pops of color and

Executive Lifestyle Executive Lifestyle Legal Matters Legal Matters Legal Matters Matters Legal

StaffingMatters Matters Legal

see DESIGN page 13

Real Estate Matters Legal Matters HR Matters Legal Matters WE BRING YOUR SPACE ALIVE

E X P E R I E N C E . C O N F I D E N C E . G U I D A N C E . PA S S I O N .

RESIDENTIAL AND COMMERCIAL DESIGN

W W W. L I S M A N ST U D I O . C O M 8 0 1 - 9 31 - 2 6 7 0 51 5 S O U T H 7 0 0 E A S T, S U I T E 3 A TROLLEY CORNERS S A LT L A K E C I T Y, U T 8 41 0 2

Š 2011 CenturyLink, Inc. All Rights Reserved. The CenturyLink mark, pathways logo, Qwest mark, Q lightpath logo and certain CenturyLink product names are the property of CenturyLink, Inc. All other marks are the property of their respective owners.

June 27-July 3, 2011

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The Enterprise

11

Qwest is becoming CenturyLink.

Now you can connect your business to more opportunity with better broadband, data and voice technologies. CenturyLink offers scalable, straightforward IT solutions and more personal service to help drive your success. Your link begins here.

5/31/11 9:58 AM

12

June 27-July 3, 2011

The Enterprise

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As a management team, we knew that our people saw things in their daily tasks that could provide cost- and time-saving measures. Tapping into our valuable employee resources, we believe could provide an anticipated bottom-line savings of $200,000 a year.

We are glad to have gone through this training and hope that some of the clients we work with regularly will embrace the same ideology and want to pursue this philosophy as well.”

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For more information call 801-738-PRFT (801-738-7738)

DESIGN from page 10

interest in addition to always being politically correct. But don’t fall into the trap of selecting subjects that are too bland. Remember the purpose of great art is to get a feeling or reaction. Your main goal should be to create dialog, but not necessarily controversy. I always worry when we install art and no one says anything. I really pay attention when we get no reaction.

I’m not opposed to individuals with private offices having a say in the selection of their artwork as long as it is professional and appropriate. It’s a good idea to set a standard for installing and framing art that needs to be consistent throughout your building.

Could even the “Furry Kritters”

PROPERTY from page 8

Finding the right management group can seem like a daunting task, but the effort will have numerous benefits. By finding a firm that has certified and accredited managers, proven experts will be managing properties, reducing the likelihood of costly and time-consuming mistakes.

A group offering complementary vertical services will provide time-saving efficiencies for the owner. Additionally, an outside firm typically costs less than hiring an in-house property manager.

Most property management firms

13

The Enterprise

June 27-July 3, 2011 look professional in the correct frame? Sadly, no.

Trained design professionals can be of tremendous help when selecting, purchasing, framing and installing quality artwork for a variety of budgets and tastes.

Don’t be intimated by this process; working with the right team can make this a clever, interesting and fun contribution to your company. It’s a significant contribution you can make in the big picture of things that will be greatly appreciated and enjoyed by both your employees and customers.

(Which is pretty much why you enjoy the quality, prestige and beauty of your S-Class.)

LaMar Lisman is CEO of Lisman Studio Interior Design, Salt Lake City. He can be reached at (801) 931-2670.

DATE:

offer a variety of pricing options to best meet an owner’s needs and CLIENT: reduce the overhead associated PROJECT #: with their properties. These savings, coupled with resources and skills available from a third-party group, make an outside property management firm a wise choice for property owners.

Yvonne Olson, RPA, is senior vice president of property management at NAI WEST. She has more than 22 years of experience in property management and asset management in the commercial real estate industry. She is the director of NAI WEST Salt Lake City, Layton and Logan property management offices.

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14

The basics are over; maybe you don't know yet

“Let’s get back to the basics” is ing atmosphere into a buying atmoarguably the single-dumbest phrase sphere. in sales. (Not to be confused with 8. Meet with the CEO (or actual the angriest phrase in sales, “We’re decision-maker) on the first call. changing the comp plan.”)

This may be the most difficult, yet

When a manager or a leader says most (sales) rewarding part of the “let's get back to the basics,” what he process. It’s also a report card on how or she is really saying is, “I have noth- well you understand these imperaing new to say.” (This is especially tives.

9. Master business social media. true for managers with more than 10 years of experience, who already Have your own (personal) YouTube know everything and are not active in channel. Have a business Facebook page where more than 1,000 people the field.)

The basics are over. They like you. Have a LinkedIn are dead and gone. No more account with more than 500 cold-calling, no more overconnections and use keycoming objections, no more words in your summary. tie-down questions, no more Tweet a value message daily closing the sale and no more to at least 500 people who finding the pain. Those days follow you on Twitter.

10. Use testimonials and are over. They left somewhere let your present customers between 1972 and 1992.

You may not know it, (rather than you) overcome Jeffrey your manager may not know your prospective customers’ Gitomer it, but the “basics” are why sales barriers. When you say you still have to sell price and lose to it about yourself, it’s bragging. When the lowest bidder. your customer says it about you, it’s

I have always tried to get away proof. from using the term “basics” by refer- 11. Earn referrals rather than ring to important elements in the sell- waste time making cold-calls. ing process as “fundamentals” and Referrals are the highest percentage expanding from there. Fundamentals sales call. Cold-calls are the lowest. like great attitude, deep belief, truth, Would you rather make 100 cold-calls friendly helpful people, fast response or earn five referrals?

12. Reputation. Reputation is a and error-free delivery.

These fundamentals constitute combination of: What are you known what every customer expects. And all as? What are you known for? What’s of them are a GIVEN. If you and your your image? What’s your Google entire company are not masters of the image? What’s your business social fundamentals, all the rest of this infor- media image? What’s the “word-ofmation is worthless. mouth” out on you?

Beyond the fundamentals are the 13. Become a trusted advisor to imperatives of sales and selling. They all your customers. You EARN the are the new strategies to employ and status of trusted advisor slowly over new elements of selling that must be time. When you do, price is no longer mastered in order for you to achieve an issue. sales in these times, and for the next 14. Perception. The customer’s perdecade or two, and they have nothing ception is your reality. You may think to do with “the basics.” Without them that you offer value. You may think you will die an unhappy, slow, sales that you’re a great salesperson. You death, griping and blaming others all may think that you’re a trusted advithe way. sor. You may think that you have a

1. Be better than your competi- great reputation. But those thoughts tors. In everything BUT price. don’t matter. If the customer perceives

2. Be different from your com- great value, actual differentiation and petitors. In a way you can prove. trust, then you will win. If they don’t,

3. Be closer to your customer you will bid or battle price, or both. than your competitors. Relationships And even if you win the sale in that rule. environment, you lose. You lose profit

4. Have a value-based offering. and you lose to the next guy who In favor of the customer. comes along 10 cents cheaper.

5. Have a value-based sales pre- REALITY: The new imperatives sentation. One that’s delivered in a of selling have replaced the “basics” – compelling manner. One that empha- forever. And that’s great news for you. sizes what happens after the customer Or is it? takes ownership: customer profit, productivity and morale.

6. Be prepared with questions Jeffrey Gitomer is the author of Social and ideas in terms of, and in favor BOOM!, The Little Red Book of Selling and The Little Gold Book of YES! of, the customer. This means “less Attitude. President of Charlotte, N.C.pitch” and more engagement, dialog based Buy Gitomer, he gives semiand interaction. nars, runs annual sales meetings and

7. Uncover buying motives. conducts Internet training programs on Uncover the real reason that a custom- selling and customer service at www. er wants to buy. Once you uncover the trainone.com. He can be reached at buying motive, their urgency becomes (704_ 333-1112 or salesman@gitomer. your reality, and even more powerful com. © 2011 All Rights Reserved is that you will have converted a sell-

The Enterprise

June 27-July 3, 2011

Is the Internet killing all other media?

Could it be that the Internet is killing all at least begin the process of mastering its marketother media? ing capabilities.

It has surely killed the Yellow Pages already.

Having said that, the key word is BUDGET And it looks an awful lot like newspaper is soon — both time and resources. The ‘Net is still not to follow. going to be the mainstay of your marketing,

I just heard that while television viewership and the effort you pour into it must therefore be is up by just over 1 percent in the last year, view- thoughtful and disciplined. ership in the key 18 to 49 demographic is down For example, you’re still probably better by over 10 percent. Where are those viewers off cold-calling two hours a day, in terms of going? To the Internet. generating immediate revenue and profit, than

But perhaps most disconcerting of all you would be spending the same two hours a day was two direct mail packages I received from “working the Web.” American Express. They were two pieces in a But that’s the short term. Eventually, it split-run test. One a postcard, the other a #10 let- appears that “everything” is going online. So ter package. now is the time to get educated. Now

Nothing unusual about that on the is the time to study, watch, learn and surface, but immediately upon examinexperiment. Keep it simple and small ing both packages, something glaringly for now, but you must dip your toe and jumped out. Both pieces were designed begin wading cautiously in. primarily to send readers directly to a

I’m talking about virtually website to get the rest of the sales pitch. every kind of business now. From infor The postcard, a folding piece, had mation marketers, Realtors and others headlines and primary features on both for whom online marketing is already a sides and told readers to go to the webJim Ackerman central revenue driver in their business, site, even before they opened the card. to jewelers, carpet cleaners and fertility If they did open the card, the message doctors whose online business may be was very short and, while it did offer a telephone near nonexistent today. option, also sent people to the website.

You see, the flameout of the Yellow Pages and

The letter package was almost identical. the daily newspaper due to the Web has been Headline on the front and back, same features exactly that — a flameout. The demise of Yellow featured. Same call to action of going to the web- Pages has taken place in a veritable “poof” of site on both the front and back of the envelope. time. Newspaper decline has been somewhat And when you opened it up, the letter was short slower, but the ship is now sinking quickly. and focused on getting you to got to the website Every other medium is changing and trying to or call. figure out how to adjust. But the key is that every business — yours and mine included — also has Is there anywhere online, where to adjust. And if we don’t adjust now, we may enough motivated buyers of your find our whole marketing systems capsize on us in a virtual instant. And then where will you be? products are regularly enough

My recommendations: assembled, to make using online Seek out an online education first. This is trickier than it sounds. There are gurus galore marketing your PRIMARY who will offer you courses, boot camps, trainmarketing tool? ing programs and more, all claiming all the magic bullets. But most of these info-preneurs

So the question is, are all of the other media are getting rich — if they’re making money at on their way out because of the Internet? Frankly, all — selling these how-to programs, NOT actuI hope not. As a marketing speaker and market- ally making money selling the kinds of goods ing consultant, I must say that i-marketing is still and services YOU have to sell every day. Check tough and may be very tricky to figure out effec- they’re track record before you sign on to their tively and profitably over time, simply because systems. of the limitless options your target market — Don’t abdicate to an agency. There are a whatever that target market is — has. ton of online marketing agencies and most are

Is there anywhere online, where enough very similar to the info marketers. Lots of design motivated buyers of your products are regularly experience, maybe a lot of clever, not much enough assembled, to make using online market- when it comes to generating online revenue for ing your PRIMARY marketing tool? And for it to themselves or their clients. And even if you find be cost effective and profitable? a good one, don’t you want to evaluate what they

Surely the answer is yes for some compa- do for you from a position of knowledge? nies, products or services. But just as clearly, the Begin experimenting. And I do mean answer will be NO for many, if not the majority. EXPERIMENTING. Don’t throw gobs of money

And if the traditional media are rendered at this. Start small and test until you find success. completely ineffective, where will those com- Then expand your efforts. panies go? How will they market, and how will Finally, keep going with you other marketthey survive? ing efforts as well. They’ll be your sustenance, at

Some time ago I wrote a column recom- least for the near future. mending that if you haven’t already cracked the Internet code, now is not the time to do it. But Jim Ackerman is a Salt Lake City-based marketthat was 2006. I still felt that way in 2009, when ing speaker, marketing coach, author and ad I released the first edition of my book, How To writer. For his speaking services, go to www.

Market Your Crap When The Economy Is In The marketingspeakerjimackerman.com or contact Toilet. him directly at mail@ascendmarketing.com.

But we’re two years further into the toi- Subscribe to his VLOGS at www.YouTube.com/ let economy; we’re two years further into the MarketingSpeakerJimA, where you get a video Internet; we’re two years further into Facebook, marketing tip of the day, and at www.YouTube.

Twitter and YouTube. Times have changed. com/GoodBadnUglyAds, where Ackerman does

With the latest media/Internet marketing a weekly ad critique and lets you do the same. developments, the time has come to dedicate ©2011, Jim Ackerman both budget and time to learning the ‘Net and to All Rights Reserved

June 27-July 3, 2011

A Greek stitch in time?

The Enterprise

The obvious question on the minds these funds.

Two major issues compel German of many is “what does the debt problem in the tiny nation of Greece have to do and French leadership to provide more with the U.S. and me?” The resolution funding. One, the reality that German of the issue has more to do with us than and French banks have been major buyyou may think. ers of Greek and Irish and Portuguese

One of my columns of about 16 and Spanish bonds (debt). They recmonths ago was entitled “A Shot Across ognize that massive losses on bond the Bow.” It discussed the tenuous holdings by major German and French Greek debt situation at that time, with banks would only cause other financial a warning for larger nations, includ- headaches. Two, the strong wish of the ing the U.K and the U.S. That col- German and French leadership to mainumn noted, “The greatest threat regard- tain the integrity, the prestige and the ing the current Greek debt solvency validity of the European Union.

Coming weeks will provide debate is the possible domino greater clarity as to the viabileffect involving other nations. ity of the EU. It is not inconA Greek default on its debt, or ceivable that nations such as a painful plunge in the value Greece may eventually be disand marketability of Greek debt cretely invited to drop their EU securities, would likely be folmembership. It is just one of lowed by similar debt issues for other nations. Such a domino or many options to be considered cascade effect would be difficult as the Union frays around the to stop once the process had edges.

Jeff Thredgold Coming weeks will begun.” also provide greater clarity as Dominoes

Well, here we are. A masto the chance that a devastatsive Greek financial bailout equal to ing domino effect could embrace many $157 billion during 2010 by other nations, in Europe and around the world.

European nations and the International Another global financial calamity — Monetary Fund (IMF) was eventually small odds at this point in time — could followed by similar financial bailouts finds its roots in Greece. for Ireland and Portugal. Worst case Inflation Stuff fears now include the possible need Consumer inflation has been on for a bailout of a much larger Spanish the rise during the past six months, economy as well, with possibly Italy and one more “anxiety” issue to add to an already crowded list of domestic and Belgium not far behind.

The Greek debt situation has been global issues. The consumer price index one of ebbs and flows since early last — the most well-known if not necessaryear. Initial market euphoria that the ily the most highly regarded measure of Greek situation had been dealt with consumer inflation — has now risen 3.6 effectively soon gave ground to the percent during the most recent 12-month period. That is triple the annual rate of other national bailouts. just last summer.

Grecian Pressures

Required austerity measures within The “core” rate of inflation, that Greece to raise taxes and cut spending in which excludes food and energy costs order to hopefully reduce massive bud- and one of the Fed’s preferred measures get deficits were met with violent pro- of inflation, has now risen 1.5 percent tests in the historic streets of Athens and during the most recent 12-month period. other cities. The critical tourism sector, By comparison, the 0.6 percent annualwhich accounts for much of the nation’s ized rise in core inflation late last year revenue and supports nearly one job in was the smallest rise in more than 50 five, has been hit hard as many visitors years. have gone elsewhere.

Oil Up, Oil Down

Greek economic output has Yes, the rise in oil and gasoline declined during the past year, making it prices had much to do with the sharp even more difficult to generate tax rev- inflation rise, and yes, oil prices are enues and cut spending. Unemployment now in decline. However, the higher is near 15 percent. level of inflation will place a crimp in

The need for more emergency fund- the Federal Reserve’s interest in a third ing — another bailout — is clear. Larger round of massive monetary stimulus, European Union (EU) nations and the affectionately known as “quantitative IMF are putting another financial pack- easing 3”, or QE3. age together. Any new funding requires There is little doubt that Fed boss more austerity from the Greeks, more Ben Bernanke has been more concerned tax increases, more wage cuts and the about the threat of deflation rather than potential sale of $70 billion in state inflation during much of the past two or assets. three years. Even as inflation pressures

Greek citizens protesting these have climbed in recent months, the Fed demands are in the streets, highly criti- chairman sees the increase as tempocal of those who demand these actions. rary.

Bernanke sees an inflation rise Money yes, tough choices no. that will soon largely reverse direction European Realities

German and French governments as energy prices decline and global agonize over the new financial realities bottlenecks, particularly tied to auto part of more and more financial support for shortages resulting from the Japanese the Greeks and possibly for other EU earthquake/tsunami, run their course. He nations. German and French people are sees an economy where there is simply strongly in favor of NOT providing see THREDGOLD page 17

It's time to change your activities and increase your sales

15

During the past couple of years, every ing back.” If you want cheese you are going salesperson, regardless of product, company, to have to quit doing those activities you have experience or success, has been impacted by done in the past and do something different. the challenging economy. While the majority You are going to have to go out into the maze of salespeople have floundered, some have and look for new cheese. In other words, in flourished. Spencer Johnson, in his classic this current economy, you will not be successparable, Who Moved My Cheese, has presented ful doing what you have done in the past. If the the world a new understanding for dealing customers aren’t coming to you, then you need with change. In our current economy, no story to go to them. Challenging economic condicould have greater impact on salespeople than tions require different activities to achieve the this simple fable involving four little charac- results of the past. Here are five areas of focus that will help you find new cheese ters and their approach to change. As and increase your sales beyond your Dr. Johnson relates, change is univerwildest dreams. sal, since we are all confronted with

• Get up early every morning change. The only variable to change is and work smart and hard at selling. how we deal with it. Nothing could be Don’t believe for one minute that just so profound for salespeople than the because the economy is worse than it way this story relates to our current has been in 25 years that your sales market conditions. I believe those few salespeople who have found success, Tim Huffaker can’t be your best ever. Believe in yourself and then work to make it in spite of the failing economy, have applied the principles discovered in this clev- happen. You will need to work harder than you have ever worked before. erly written and exceedingly simple story.

Nothing is more revealing of a sales- • Review your sales process and then folperson’s skills and abilities than their perfor- low it diligently. Don’t become complacent. mance. There is no doubt that sales results are Prospect every day. Find new opportunities influenced by the strength of the economy or to tell your story. Present solutions to probof a salesperson’s specific market niche. In a lems and prepare quotes for the sale of your booming market even a novice salesperson is products or services. Follow up with each capable of delivering a strong performance. opportunity, resolve concerns and ask for the As quickly as the phone is answered, a sales- business.

• Focus your activities on the very best person can write an order. About the only skill needed is the ability to pick up the phone and potential opportunities. Remember, current then deliver the customer’s order. Most busi- customers present the best opportunity for ness owners have no idea how poorly trained new sales, repeat sales and referrals. Look their salespeople are until the market begins to beyond your current product base and discover soften and selling skills are actually required to potential niche markets for your products or discover new products that could complement make a sale.

A few years ago I called on the president your current product lines. Think outside the of large window-manufacturing company. We box. talked about the necessity of sales training to • Set goals for your daily, weekly and improve the performance of his salespeople. monthly activity. Establish activity goals as He was in total agreement in principle, but well as performance goals. Set goals for the when it came right down to enrolling his number of calls, appointments, follow-ups and people in our training program, he declined. quotes you will make. When you are doing the He looked at me and said that he knew his right things on a daily basis you will finish the people needed training. He even went so far as month with the right results. Keep a monthly to say that they were pretty lousy salespeople. goal sheet that identifies those customers and However, the home-building market was so prospects that will allow you to reach your strong that even though his salespeople lacked goal. Setting a goal without identifying where professional skills, they were selling every the goal will come from is a waste of time.

• Ask everyone you contact for referrals. window the company could produce. Their production facility was working three shifts Let them know that receiving referrals is the per day, seven days per week. There was no way you make your living. Everyone knows way they could produce any more windows. someone they could refer you to. Demonstrate Training his salespeople would only increase that you are working hard to provide the lead times and cause their customers to be service and products they need. When the prospect or customers are satisfied with your unhappy.

I mention the example of salespeople and performance they will gladly give you referrals their performance in both strong and weak if you ask. Never let a day go by without askmarkets because the weak market requires a ing for and receiving at least one referral. change on the part of the salesperson if they Challenging times require extreme meaare going to continue to produce excellent sures. Those salespeople who are willing to results. In the story of Who Moved My Cheese, make a change in their performance and actuHem would go to cheese station C every morn- ally start to sell will find the success that ing, even after all the cheese was gone, hoping “order takers” can only dream about. You will that it might still be there. Haw, on the other have your best sales year ever, if you will just hand, spent each day wandering through the forget about the recession and go to work. maze looking for new cheese. He realized that since the cheese was no longer in cheese sta- Tim Huffaker is the president of The Business tion C, he needed to find another source. Hem Performance Group, a sales training and was unwilling to change, to do something dif- coaching firm headquartered in Salt Lake City.

The company teaches core sales principles ferent in his quest for cheese.

For every salesperson who still believes and skills, allowing clients to double their sales. that sales can still be made the same way you Huffaker is the author of hundreds of sales made them before the recession: “The cheese articles and can be contacted at (801) 557in cheese station C is gone and it is not com- 4571 or tim@bpgutah.com.

16

June 27-July 3, 2011

The Enterprise

It takes more than a creative idea to create a successful business

At times, business owners can be their own worst enemy

© 2005 American Cancer Society, Inc.

You may have a great idea equipment). He had never applied for a wonderful new business, but for an SBA loan so I walked him if you don’t make the right deci- through the packet, helped him sions on financing it, you may be fill out the financial statement and headed for disaster. Utah is teem- understand the loan requirements. ing with entrepreneurs who have It was a fairly painless process the energy, creativity and desire to because of his background in the start new business opportunities. industry and his knowledge of But, in order to be successful, operating a business. It took him these movers and shakers need about one week to gather informore than great money-making mation for the loan, another week to get approval on the ideas. It’s critical for busibank’s portion of the ness owners to gain an loan, and four weeks for understanding of business the SBA to process the financial information in loan. I’m happy to say order to operate a business he has opened his new and get proper financing. restaurant and it is very

There are two great profitable. resources available in The third situthe community that can Dan Bradshaw ation involved a busiserve as a starting point: ness owner who came the Utah Small Business Administration (SBA) and local in hoping to get a line of credit to community banks. SBA volun- operate his business and purchase teers or local bank business loan some equipment. In fact, what experts will sit down, review and he really needed was a loan, not discuss basic business financing a line of credit. This is a comconcepts that are needed in order mon misconception about busito get a business loan, such as bal- ness financing. Business owners ance sheets, income statements, can call upon the expertise of a local community banker to sort projections and forecasting.

In my many years in the out the best options for financing, banking industry, I have spoken but some basic business financing with many great people who have knowledge would have saved him had hopes and dreams of owning some time.

If you are one of the many their own businesses. Although business loan officers are more entrepreneurs in our state with a than happy to answer questions unique business idea, I suggest and provide direction, entrepre- that you study the basics of busineurs can do some things to pre- ness financing, create a business pare before visiting the bank. To plan and determine where you illustrate the importance of that can find some capital or collateral preparation, here are three scenar- — all before applying for a loan.

Being well-prepared and confident ios I have encountered recently.

In the first situation, a man goes a long way in successfully came in with the dream of start- acquiring a loan. Visiting your ing a motorcycle retail and repair local SBA office is a good place business. He had seen an ad sug- to start in the process, as well as gesting that financial institutions talking to your local banker. It offer SBA loans, and he assumed takes more than a dream to be suc(like many other people) that cessful, it takes real know-how. because the SBA loan is backed by the government, he was sure Dan Bradshaw, senior vice presito get the loan. The truth is that dent and commercial loan team an SBA loan requires financial leader for Bank of Utah, startliquidity like any other loan. An ed his banking career in 1970 at Continental Bank and Trust, SBA loan would only finance 75 where he worked in branch bankpercent of what he requested, so ing, installment lending and colhe needed either a down payment lecting. He spent the next 24 years or collateral (such as equipment) in community banking at Capitol to back the rest. The reality was City Bank, and then eight years that he had no money or collateral. at Bank One/Chase. Bradshaw In addition, he had several nega- returned to community banking tive remarks on his credit report. I when he joined Bank of Utah in explained the challenges he would 2002. face in applying for the loan, so he If you’re 50 or older, decided to rethink his plans and talk to your doctor about try again after working out some colon cancer testing. of the details.

No excuses, okay?

The second circumstance ended on a more positive note. One of my existing bank customers wanted to open a franchise restauHope. Progress. Answers. rant. He brought with him experi1.800.ACS.2345 ence in the industry and individual www . cancer . org assets (a home and some restaurant ®

By John Graham

Those who own a business hold their peers in high regard. Someone may be disliked personally, but they get a thumbs-up when it comes to running a company. Those who survived the recession deserve a special commendation. Only the naïve outsider thinks otherwise.

Having had a marketing services business for 35 years, I have had what seems to me an unusual opportunity to work closely with nearly 200 business owners, some for several decades. As time passed, I accumulated a wealth of impressions, which emerged as something of a Business Owner Profile. To put it into a few words, these people can be dogged, determined, creative, confident and surprisingly risk averse, as well as obstinate, ignorant, bullheaded and arrogant (to a fault). Yet, while others worry, they are out teeing off. While others see obstacles and even roadblocks, they visualize new paths.

There’s much more to it than just figuring out what makes business owners tick. Figuring out how to go about doing business with them is a challenge and, frankly, there are some who are worth staying away from, believe me. Here are a few thoughts that might be helpful when working with business owners:

1. A strong need for achievement. Some (quite a few, actually) are so intertwined with their business that they become the de facto logo. Their picture is everywhere and on everything. Try to help them understand the importance of focusing on the customer. They may say they hear it, but they don’t get it.

In reality, the business is their mirror image.

More to the point, they are the business. They may even talk about having a “great team,” but deep down inside, they know it wouldn’t work without No. 1.

A number of researchers over the past 50 years have pointed out that entrepreneurial types have a need for achievement, which suggests that being “the point person” may not be ego-driven, but a way to show the world what they have accomplished. So talking about their business is really talking about them.

2. Driven by ideas, not risks. Contrary to popular thought, most business owners aren’t gamblers. As a matter of fact, research suggests that they neither seek nor run from risk.

A smart, astute 19-year-old said he wanted to take over a faltering family business. Instead of selling it, his father gave him two years to turn it around.

Amazing as it may seem, he did just that — while going to college.

As he tells the story, the possibility of failure didn’t seem to enter his mind. Quite the contrary, he analyzed the situation, identified what needed to be done and was confident that he could make it work.

This is a business owner who possesses superior analytical skills. He can push everything else out of his mind while pursuing an objective with the confidence that he can reach it. And when you’re working with him, you’d better focus on what he wants to accomplish!

3. An abhorrence for planning. For some business owners, it seems as if planning is their enemy.

It kills the spark, inhibits spontaneity and takes the fun out of business. When someone puts a plan on the table, the owner may appear to embrace it, but as those around him have learned, it never goes anywhere.

Rather than a road map for helping everyone catch the vision and share in the dream, it’s viewed as a threat, draining the blood out of “a great idea” waiting to be born. It’s no wonder that entrepreneurs often feel alone.

One business owner wanted a marketing plan in the worst way. “We really need it,” he said with

passion. Much time and effort was devoted to developing and refining it. But once it was accepted, that was the end. From then on, he was at the helm of the marketing boat.

4. The staying-on-track problem. If there is one immutable rule in marketing, it’s consistency, consistency, consistency. Well, if that’s true, then far too many business owners missed the memo. They possess what might be called a “Mexican jumping bean” mentality. They get bored easily, so it’s always on to the next thing.

They tend to be idea people. They’re always coming up with something new, which more often than not is completely irrelevant and “off message.”

They are constantly changing the focus, although they see it as expanding on “the Vision.”

Many have pointed out that an entrepreneur is essential to founding a business, but after the initial growth stage of perhaps eight years, a shift to a managerial style should occur if the company is to continue growing. This is another way of saying that someone needs to bring discipline and order to it. Not surprising, those around the “Big Guy” may see it quite differently.

To work successfully with a business owner, it’s critical to know where the company is at the moment.

5. “My way or the highway.” While entrepreneur-driven operations often possess a sense of excitement (or drama), everyone knows that criticizing the “Big Guy’s” ideas is a huge mistake, perhaps closely akin to treason.

On one occasion, the head of 400,000-member organization and the epitome of the “Big Guy” — with an awesome title that reinforced it — asked me to prepare a mailing to the members regarding a credit card program he had just authorized.

After getting acquainted with the background materials, my marketing mind took over and I raised questions regarding the validity of the project, which appeared to me to be flawed and destined for failure.

Instantly, the client erupted from his chair (he was truly a big guy) and pounded his fist on the desk.

“If you don’t want to do it, I’ll get someone who will,” he stated with vigor. I dutifully did it. Nothing more was ever said even though the program failed, miserably.

6. Little interest in the facts. On several occasions, we suggested to the head of another national organization that surveying the members could be an effective way to obtain feedback for designing programs and activities that they would want to embrace.

Each time we brought it up, the head of the group, a bright guy, instantly dismissed surveying as “too expensive,” an easy way to get it off the table quickly. “If I call eight or 10 key people, they’ll tell me what we need to know,” he said. At one point when the subject was raised yet again, he acknowledged having “a difficult time with surveys.”

If business owners have a weak spot, this is it. They’re ready to enter the fray armed with their intuition, self-confidence and persuasive powers.

Gathering the facts is seen as a needless delay.

If you fall for that, there may be trouble ahead.

7. Everything becomes a sales pitch. If there were ever any words that deserve to be banned from the language of business, “sales pitch” should have an honored place at the very top of the list. Inevitably, a “sales pitch” is about what we want to accomplish.

It encapsulates our goals and objectives. It’s all about us.

Unfortunately, this is far from an isolated instance. It’s a pervasive pattern with business owners and other salespeople. One company president see ENEMY next page

ENEMY

from previous page takes this to an extreme, and he is far from alone. “We’re growing every month and have been for two years,” he announces ever so boldly. It’s his mantra, the No. 1 topic of conversation. That said, it’s difficult trying to get him to pin down the figures.

Is it any wonder that “price purchasing” has become almost the norm? If price is the only significant differentiator, then the low price wins. As it turns out, a sales-driven strategy becomes little more than an exercise in undercutting the competition.

Rather than an indication of strength, those who are sales pitch-prone do themselves and the company they represent a huge injustice as they reveal for all to see that their only interest is selfinterest.

It’s second nature for business owners to be preoccupied

17

The Enterprise

June 27-July 3, 2011 with their own company. It’s part of them. They breathe life into it and see it through troubled times and well-deserved successes.

What business owners know best is the business, so it’s understandable that the business is their primary perspective. When it comes down to it, their interest in the customer is figuring out how to get the order.

Most business owners want to be respected for running good operations. Unfortunately, at times they can be their own worst enemy by letting themselves interfere with the way they do business.

John R. Graham is president of Graham Communications, a marketing services and sales consulting firm. He writes for a variety of business publications and speaks on business, marketing and sales issues. Contact him at 40 Oval Road, Quincy, MA 02170, (617) 328-0069 or jgraham@grahamcomm.com.

THREDGOLD from page 15

too much excess labor capacity to sustain any serious rise in inflation.

That Debt Thing

There is a school of thought that higher inflation is exactly what the economy needs. The Wall Street Journal recently ran a story, “What This Country Needs Is a Good 5% CPI,” noting that the economy’s primary challenge is high debt levels of individuals, corporations and government entities.

The story suggested that higher inflation would make it easier for all debtors to repay high debt levels with less valuable dollars. This approach, featuring much much higher levels of inflation, has been used by various nations all too frequently in the past, many in South and Central America, to repay fixed debts with currencies worth much

less.

The story also suggested that it was higher inflation that helped end the Great Depression, along with global involvement in WWII. In addition, the story discussed Japan’s long struggle with deflation and the challenges of escaping a deflationary environment.

One could argue that temporarily higher inflation could help stabilize U.S. housing prices. At the same time, however, keeping inflation at bay once it has become more pervasive is no easy task.

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.

18

Washington's deeper immorality

While the well-deserved poor, recently decreed reductions departure of Anthony Weiner in its annual funding, just as food draws rapt attention in our tabloid prices are rising more rapidly than nation, the depredations of less in many years.

Breaching a long bipartisan colorful but more powerful politi- cians go unnoticed, so long as no commitment to making sure this successful program’s genitalia are involved.

At the moment, for funding will be sufficient instance, Republican leadto the need, the subcomers in the House and the mittee’s Republican Senate are mounting yet majority has decided we another series of assaults can no longer afford to on some of the most vulensure healthy nutrition nerable Americans — the for every hungry mother poor single mothers who and child. (What we can cannot feed their children, Joe Conason apparently always afford, and the long-term unemhowever, are more and ployed who still have no prospect bigger tax cuts for billionaires and of work nearly two years after the petroleum companies.)

By cutting $650 million from recession supposedly ended.

Hardly anyone other than WIC, according to the experts at a lobbyist would normally pay the Center for Budget and Policy much attention to the machina- Priorities, the subcommittee will tions of the House Appropriations deprive hundreds of thousands of Subcommittee on Agriculture, but indigent women and children of that is where truly indecent behav- program services, which include ior is running rampant these days. healthy foods, nutrition counselMembers of that subcommittee, ing and referrals to health care who oversee the Women, Infants providers when necessary. The and Children (or WIC) federal exact number of victims will nutrition support program for the depend on how fast food prices

June 27-July 3, 2011

The Enterprise

go up. But there will surely be many more infants and children who must cope with the ill effects of low birth weight and anemia, and all the other ills arising from bad nutrition in this wealthy and verdant nation.

As usual, the mean impulse to save money by punishing the poor is short-sighted, since the obvious result is a growing population that is either crippled at birth or ruined in youth, requiring expensive hospitalization, special education or, eventually, prison cells. And as usual, the justifications for stupid policy are based on botched data and false arguments, such as the Republican claim that WIC is wasting 40 percent of its budget on administrative costs, when the actual number is 9 percent.

But then there is little real prudence among the proponents of these cuts.

Nor is there much mercy among them, either, despite the professed Christianity of the Ag subcommittee members, who mostly come from bastions of

religiosity such as Iowa, Georgia, Mississippi and Alabama. No doubt these Bible-thumping politicians all know that Jesus once told his disciples to “suffer the little children to come unto me, for theirs is the kingdom of heaven.”

Somehow in conservative circles, his profound remark seems to end at “suffer the little children.”

Slashing WIC is only one aspect of the broad assault on the poor mounted by Republicans in Congress since they regained power. Just last week, House Ways and Means chairman Dave Camp, R- Mich., and Utah Sen. Orrin Hatch, the ranking Republican on the Senate Finance Committee, proposed radical changes in unemployment insurance that would snatch $31 billion in benefits from families whose breadwinner has been jobless for six months or more.

Their bill would permit states to stop paying any benefits to those families — and to use the money instead for other purposes, like reducing business taxes. If passed,

that legislation will further reduce economic demand and drive more families into poverty.

And then there are the Supplemental Nutrition Assistance Program cuts in the 2012 Republican budget, which would reduce spending on food stamps by more than $120 billion over the coming decade. If you’ve lost your job, after all, why should you or your children expect to eat?

Yes, Weiner is gone from Washington, and good riddance.

Will we now scrutinize the far deeper immorality that reigns there?

Joe Conason’s articles have been published in Harper’s, The Nation, The New Republic, The Guardian (London) and The New Yorker, among many other periodicals in the United States and abroad. He also appears frequently as a commentator on television and radio programs. A winner of the New York Press Club’s Byline Award, he has covered every American presidential election since 1980.

Copyright 2011 Creators Syndicate

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The Enterprise

June 27-July 3, 2011

The missing money

One of my earliest memories ed instead against those politicians of revulsion against war came who were irresponsible enough to from seeing a photograph from set up these costly programs withthe First World War when I was out putting aside enough money a teenager. It was nothing gory. to pay for the promises that were Just a picture of a military offi- made — promises that now cancer, in an impressive uniform, not be kept, regardless of which political party controls talking to a puzzled and the government. forlorn-looking old peas Someone needs to ant woman with a cloth say to those who want wrapped around her head.

He said simply: Social Security and “Don’t you understand, Medicare to continue madam? The village is not on unchanged: “Don’t there any more.” you understand? The

To many such people money is not there any Thomas of that era, the village was more.”

Sowell the only world they knew.

Many retired people And to say that it had been remember the money that destroyed in the carnage of war was taken out of their paychecks was to say that there was no way for years and feel that they are now for them to go back home, that entitled to receive Social Security their whole world was gone. benefits as a right. But the way

Recently that image came Social Security was set up was so back, in a wholly different context, financially shaky that anyone who while seeing pictures of American set up a similar retirement scheme seniors carrying signs that read in the private sector could be sent “Hands off my Social Security” to federal prison for fraud. and “Hands off my Medicare.”

But you can’t send a whole

They want their Social Congress to prison, however much Security and their Medicare to they may deserve it. stay the way they are — and their This is not some newly disanger is directed against those covered problem. Innumerable who want to change the financial economists and others pointed out arrangements that pay for these decades ago that Social Security benefits. was unsustainable in the long run,

Their anger should be direct- including yours truly on “Meet the

The

Press” in 1981.

But the long run doesn’t count for most politicians, since elections are held in the short run.

Politicians’ election prospects are enhanced, the more goodies they can promise and the less taxes they collect to pay for them.

That is why welfare states in Europe as well as here are facing bitter public protests as the chickens come home to roost.

It has been said innumerable times that nobody already on Social Security will lose their benefits. But it needs to be spelled out emphatically, so that political demagogues will not be able to scare retired seniors that they are going to have the rug pulled out from under them.

Retired seniors have the least to fear from a reform of Social Security, since neither political party is about to take away what these retirees already have and are relying on.

Despite irresponsible political ads showing an old lady in a wheelchair being dumped over a cliff, the people who are really in danger of being dumped over a cliff are the younger generation, who are paying into Social Security but are unlikely to get back anything like what they are paying in.

The money that young workers are paying into Social Security today is not being put aside to pay for their retirement. It is being spent today, paying the pensions of the retired generation — and it can’t even cover that in the years ahead.

What needs to be done is to allow younger workers a choice of staying out of a system that is simply running out of money. Nor can the system be saved by simply jacking up taxes on “the rich.”

Generations of experience have shown that high tax rates that “the rich” can easily avoid — through tax shelters at home or by investing their money abroad — do not bring in as much revenue as lower tax rates that keep the money here and the jobs here.

Since the law does not allow private pension plans to be set up in the financially irresponsible way Social Security is, that is where young people’s money should be put, if they ever want to see that money again when they reach retirement age.

Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University, Stanford, CA 94305.

His Web site is www.tsowell.com.

Copyright 2011 Creators Syndicate

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