UTAH’S BUSINESS JOURNAL www.slenterprise.com
THIS WEEK Confectioner invests $1.5 million in new facility
Hatch Family Chocolates has new location in SLC's Avenues district. See page 4.
Founders buy back company
Platinum Protection reverts to original ownership. See page 5.
• Industry Briefs • Begin on page 6.
• Calendar • See page 16.
Aug. 1-7, 2011
Volume 41, Number 1
$1.25
Orem manufacturer to SLC real estate investment build 90,000 sq. foot company launches plant in American Fork Mountain West Debt Fund By Barbara Rattle The Enterprise Xlear Inc., an Orem-based firm that manufactures a line of health care products containing the naturally occurring sweetener xylitol, plans to break ground in roughly two months on a new headquarters facility in American Fork. The firm will build an approximately 90,000 square foot building on five acres at 723 S. Auto Mall Dr., American Fork. Company CEO Blaine Yates said the new facility should take about 10 months to construct and will be more than double the size of the company’s operations in Orem, where Xlear occupies two buildings. “We’re averaging about 20 percent yearly growth,” Yates said. “Last year we were a little over 30 percent growth and this year we’re in the mid-20s. That grows us out of our facilities here [in Orem]
about the time we get into our new building.” Xlear has purchased nine acres in American Fork and will build on five. The remaining four acres will be held for expansion when that becomes necessary, which Yates estimated would be in three to four years. Roughly 50 employees will make the move; Xlear also has sales representatives throughout the country. American Fork was chosen as an expansion site because it is located near the center of Utah County and because a sizeable piece of raw ground was available there, Yates said. Also, freeway frontage was important. Xlear’s products are available in more than 5,000 locations in 12 countries, mostly health food stores. Yates said the company’s biggest client is Whole Foods. The firm’s product line consists of sweeteners, nasal sprays, gum, see XLEAR page 2
Motorcycle racing component maker to open Salt Lake office Florida-based Vortex Racing, a manufacturer of motorcycle racing components, will open an office in Salt Lake City in late August as part of expansion efforts to better serve the motorcycle racing industry in the western region of the United States. This new office, measuring about 10,000 square feet and employing between 10 and 20, will primarily operate as a distribution center but will also house sales and marketing, engineering, research and development, inventory and assembly departments, said company spokesperson Stephanie Steele. Efforts are currently under way to staff the new office with inside sales reps and engineers. “We are very excited about broadening our reach in the motorcycle racing industry by opening offices in Salt Lake City,” said company founder and presi-
dent Matt Griffin, who is moving from Odessa, Fla., where Vortex is based, to Park City. “We are proud to add our brand name to the numerous motorcycle and altsports industry names in Utah.” The new Vortex facility, for which Steele declined to give an address, is currently being retrofitted for offices and inventory in stages and is projected for completion in early September. Steele said Vortex was drawn to Utah not only because it is located in the western U.S., where many U.S. motorcycle racing firms are based, but also because of the proximity to Miller Motorsports Park near Tooele and OGIO, a gear bag manufacturer based in Bluffdale. see VORTEX page 2
Salt Lake City-based real estate investment firm Taylor Capital Group has launched the Mountain West Debt Fund, a new way for commercial property owners to secure timely, flexible loans at a time when traditional bank financing can be very difficult to attain. Mark Taylor, principal and managing director of the fund, said a handful of loans, all made to Utah borrowers, have already closed. Presently, the minimum loan amount is $200,000 “and the maximum is whatever our capacity is at the time,” Taylor said. “I’d say right now that’s $1 million, but we’ll ramp up as we continue to grow.” The fund will not lend to finance single-family homes,
and the majority of the fund’s loans will consist of construction financing and distressed situations “where we step in when either a bank loan has come due and the bank is not willing to refinance or somebody needs a loan quickly that can’t get financing through traditional sources quickly,” Taylor. Interest rates vary dramatically, from the high single digits to the mid-20s, he said. “We fill a unique space in between traditional banks, and hard money lenders,” Taylor said. see FUND page 2
SLC firm inks agreements with three Chinese companies
Thanksgiving Point in Lehi is one Pacific Group has been involved. By Barbara Rattle The Enterprise Pacific Group, a Salt Lake City-based firm that acquires, develops and builds commercial real estate projects, inked memorandums of understanding with several Chinese firms at the recent U.S. & China Trade, Culture and Education Conference in Salt Lake City. “It is hard to express how valuable this cultural exchange was and will be. We have signed agreements with firms from three different parts of China, and these agreements could lead to literally thousands of jobs here in America,” said David Strong, Pacific Group’s COO. “The Chinese economy has been expanding rapidly, in part because of their access to capital. Over the past few years capital has been far less available in the U.S., so companies haven’t been able to operate as effectively or to create many new jobs.”
of many Utah projects in which One of the memorandums, signed by the general manager of a prominent Beijing textile firm, involves an employment-based immigrant investor program — popularly called EB-5 — that provides a permanent “green card” to the U.S. for foreigners and their immediate family who invest a minimum of $500,000 in a U.S. project. The investment must produce at least 10 jobs per $500,000 invested during the first 24 months. The green card is typically issued in fewer than 90 days, which is much more swift than other means. “One of the most difficult parts of the EB-5 process is finding those secure and legitimate sources of capital from those foreign investors, “Strong said. “It’s quite a vetting process.” Pacific Group also signed two agreements as a result of the conference that were not see CHINESE page 2
2
FUND from page 1
“Traditional banks have capital on hand, but are not lending like they used to. Hard money lenders tend to be inexperienced, expensive, and severely restrictive in how they operate. This dysfunction in the lending system has created a tremendous void, forcing reputable builders and developers to seek other financing. What we are doing with the Mountain West Debt Fund is unique, and we provide an extremely necessary service -- access to sophisticated financing at a reasonable rate.” The fund is a Delaware limited partnership organized by a team of real estate investment professionals led by Taylor and managing director Rocky Derrick. “Our team has extensive experience in the real estate development business, and our contacts repeatedly told us of the difficulty they have securing any financing from banks, and that the lack of financing is stalling their business recovery,” Taylor said. “We created the Mountain West Debt Fund to provide needed capital to real estate companies who are trying to keep real estate businesses alive in the western United States.” Taylor was former COO of CM Group, a nationally recognized real estate investment company. At CM Group, he helped restructure and reposition a $600 million portfolio that was in distress. Taylor also served as a founding partner and senior vice president of acquisitions at WestCorp Management Group, where he and his partners built the company from a small property
management company into one of the 50 largest property managers in the U.S. While there he also directed the acquisition of approximately $600 million in multifamily properties in an 18-month period. Prior to WestCorp, Taylor served as the chief operating officer of FSHP Builders/Creative Sales and Marketing, where he achieved more than $550 million in sales over a three-year period and assisted in the development of more than $200 million in medical office buildings, hotels, condos, and other commercial projects. Derrick has practiced real estate development, asset management and lending throughout Utah, Nevada, California and Idaho. Most recently, Derrick has done consulting work for multiple REITs, public and private equity funds, lenders, developers and institutional asset managers. Derrick’s projects have included underwriting, analysis and workout strategies of more than $1 billion in loans and assets. Most recently he led the underwriting and evaluation of more than $1.4 billion in FDIC and other distressed commercial loan portfolios. Derrick also served as the senior vice president for CM Capital Services in Las Vegas, building and managing the real estate asset management and underwriting teams, which managed more than $600 million in distressed loans and assets. Prior to CM he was the vice president of acquisitions and development for Seegmiller Partners, where he personally managed more than $100 million in Class A commercial development in Southern California and Las Vegas.
Aug. 1-7, 2011
The Enterprise
CHINESE
XLEAR
specifically related to the EB-5 program. The chairman of the Yen-Chain Creative Investment Corp., based in Inner Mongolia, committed to work together on a Pacific Group project in New Hampshire. The other agreement was signed by the chairman of three firms doing business in Henan Province. Those firms are involved in real estate, construction and media technology and also plan to work on Pacific Group’s Ragged Mountain Resort in New Hampshire and on the advancement of graphic video animation technology. During the last 25 years, Pacific Group and its affiliates have been responsible for billions of dollars in commercial real estate acquisition, development, and construction, with more than 1,000 successfully completed projects. The projects include some of the top resort properties in North America, plus student housing, commercial office buildings, retail stores and centers, industrial business parks, multi-family urban condominium properties and master planned resort communities. In Utah, the firm has been involved in a number of projects, including Thanksgiving Point in Lehi, the Bullfrog Visitors and Medical Center at Lake Powell, the Eccles Performing Arts Center in Salt Lake City, Freightliner of Utah in West Valley City, Micron Technologies in Lehi, the Snow Basin Lodge in Ogden, the St. Thomas More Catholic Church in Sandy and a number of Walmart stores.
jam, candy, mints, toothpastes and gels, oral rinses and floss. Yates said a handful of new products will be introduced later this year “that we think will help keep the ball rolling.” Several will be extensions of the firm’s dental line, which goes by the name of Spry, while the nasal spray line will also be extended. “They should hit before the end of the year and that should carry the momentum on into the next couple of years,” he said. Pure xylitol is a white crystalline substance that looks and tastes like sugar but has 40 percent fewer calories and none of the negatives of sugar, such as tooth decay or insulin release. It is a naturally occurring sugar alcohol found in many fruits and vegetables and is produced in small amounts by the human body. Xlear was founded in June 2000, when it launched its first commercially available product, Xlear Nasal Spray. Xlear’s products are based on the research of a now-retired family physician in Texas who was trying to find a solution for the number of patients who came to him with upper respiratory issues, which are often linked to inadequate nasal hygiene. Studies indicate that 90 percent of moisture and bacteria enter through the nose. In addition, clinical studies have shown that oral xylitol administered in the form of syrup and chewing gum may help reduce the risk of tooth decay; many of the bacteria found in the nose and mouth ingest xylitol but cannot metabolize it, preventing the production of harmful byproducts.
from page 1
from page 1
Warner Truck Center constructing new facility in Idaho Warner Truck Center, West Valley City, has broken ground for a 62,000 square foot fullservice heavy truck and trailer dealership in Jerome, Idaho. It is expected to open Jan. 1, 2012. The dealership will include 36 service, body, trailer and paint bays with access to 7.5-ton overhead cranes. The dealership will have certified technicians to perform warranty and repairs on all types of Daimler trucks, Detroit, Cummins and Cat engines, and Allison, Eaton and Meritor components. The parts department will be more than double the size of what Warner Truck Center currently operates in Twin Falls and Jerome. Other features in the new facility will include a 500 HP dynamometer, a fast lube pit, a 70-foot paint booth, a training room capable of accommodating more than 100 people, and an indoor showroom. Freightliner of Idaho plans on offering a monthly “Fleet Night” in the new training room to allow local mechanics from their customer’s shops to take advantage of the latest training from industry vendors. Bart Warner and his partners, Jerry Zmyslo and his son Buzz, purchased the Freightliner dealership from Orlan Stearns in July of 2010. “We plan on opening extended hours of service immediately in January,” Warner said. “With the technical complexity of heavy trucks which now require 32 on- and off-board computers to program, diagnose, run and repair today’s trucks, the need is greater than ever to have facilities and equipment to match the needs of our customers and help our employees provide the type of service our customers expect with their purchase of a Daimler truck.”
VORTEX 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 $55 per year for online only, $65 per year for print only and $75 per year for both the print and online versions. or $1.25 per copy. Opinions expressed by columnists are not necessarily the opinion or policy of The Enterprise Copyright 2011 Enterprise Newspaper Group Inc. All rights reserved Periodicals postage paid at Salt Lake City, UT 84199. POSTMASTER: Send address corrections to P.O. Box 11778, Downtown Station, Salt Lake City, UT 84147
from page 1
Griffin founded Vortex Racing in 1995 as a small sprocket company. Today, Vortex is an international brand sponsoring some of the world’s best riders, including Josh Hayes, 2010 World Superbike Champion; Ryan Dungey, 2010 World Supercross & Motocross Champion; Martin Cardenas, 2010 World Supersport Champion; and James Stewart, 2009 World Supercross Champion and star of “Bubba’s World,” a reality TV show based on Stewart’s life airing on FUEL TV. Vortex offers thousands of part numbers for a variety of motorcycle racing parts, including sprockets, rear sets, handlebars, frame sliders and other speed and safety enhancing components.
The Enterprise
Aug. 1-7, 2011
There’s good news and there’s good news. We’re not only upgrading your network today, but we’re also busy building a next-generation, high-speed network. This includes: • Upgrading and adding new cell sites here in the Salt Lake City area and all around the country • Adding more fiber optic cable to cell sites for greater capacity • And we’re planning to combine with T-Mobile to deliver a better, stronger network, adding thousands of cell sites across the nation to deliver the most advanced mobile broadband network experience From a simple phone call to the most advanced data download, AT&T is committed to delivering the best network possible to the Salt Lake City area.
To see more of what we’re up to, visit MobilizeEverything.com.
©2011 AT&T Intellectual Property. Service provided by AT&T Mobility. All rights reserved. AT&T and the AT&T logo are trademarks of AT&T Intellectual Property. All other marks contained herein are the property of their respective owners.
3
4
The Enterprise
Blueprint: Utah will play big role in supplying American energy Utah will play an ever-important role in supplying American energy, increasing its natural gas production by 42 percent over the next 10 years, according to the Blueprint for Western Energy Prosperity conducted by EIS Solutions with data analysis by ICF International. The study concludes that if western producers are allowed to develop the vast domestic energy resources found on public lands, investment in the region will double to $58 billion annually by 2020, and direct, indirect and induced jobs will increase by 16 percent, including 5,700 new jobs in Utah. “These projections of
Need a line of credit? Business lending is our business.
Member FDIC
Dillon George AVP/Commercial Loan Officer 801.924.3634 digeorge@bankofutah.com
growth and investment are great news for Utah’s economy and for American energy security,” said Lee Peacock, president of the Utah Petroleum Association. “Utah’s natural gas producers are already responsible for a large percentage of America’s energy, and predictions of increased growth and investment mean more jobs, more revenue for local and state governments, and less reliance on foreign energy sources.” Federal government policies, however, are significantly undermining these projections of growth, investment and expansion. The Blueprint identifies government policies that are making western energy development increasingly more difficult, time consuming, and expensive, and recommends policies to overcome those obstacles. “Western producers are gravely concerned that government policies are significantly undermining these projections of growth, investment and expansion,” said Western Energy Alliance president Tom Sheffield of Pioneer Natural Resources. “The West is supplying an increasing amount of America’s energy with a smaller environmental footprint, but while technological advancement has opened the door to a century’s worth of new oil and natural gas, misguided government action is preventing achievement of the region’s full energy potential.”
Aug. 1-7, 2011
Hatch Family Chocolates invests $1.5 million in new facility By Brad Fullmer The Enterprise Hatch Family Chocolates has invested approximately $1.5 million in a new location for its hand-dipped chocolates shop in Salt Lake’s Avenues District, the former site of the 8th Avenue Market a half block east of LDS Hospital. Owners Steve Hatch and his wife, Katie Masterson, founded their business in April 2003 at 4th Avenue and E Street and currently employ 15 people who work anywhere from 20 to 30 hours per week, depending on seasonal demand. The new location represents a milestone for Hatch and Masterson, who longed to expand to a bigger building for several years. Their new facility is more than 10 times larger than their original store, which gives them greater production capacity along with a more spacious dining area. “It’s a goldmine,” Masterson said of the new facility. “We went from a 500 square foot kitchen to a 5,000 square foot kitchen — that makes us so much more efficient.” The purchase and renovation of the new facility is a direct result of Hatch and Masterson’s stint last year starring in a reality-based television program “The Little Chocolatiers,” which debuted in December 2009 and ran for 12 episodes through August 2010 on The Learning Channel (TLC). Hatch said gross revenues increased 100 to 200 percent virtually every month in 2010, including one month that saw a 400 percent increase in sales from the previous year. Being on TV, he said, was essentially “a half-hour infomercial every week.” “It’s hard to compare where
A small business loan from Zions Bank helped renovate the former 8th Avenue Market in Salt Lake City. our business is now compared to “This is an example of how a before we were on national TV,” small business should have access said Hatch. “I don’t think there to credit, and when they do have is any way to replace that kind of access to credit, how they can exposure. From a normal business expand and create new jobs and standpoint we were very fortu- move forward,” said Anderson, a nate.” 20-year Avenues resident. “When “We tried to save every penny you see the difference in the new from that boost in business so we facility from where they came could put that money down on from, it just makes their operathis new building,” he added. The tion more efficient and puts it on rest of the $1.5 million investment a road for even greater success. came from a small business loan They will be able to take their through Zions Bank. business to the next level. It will The couple met with sev- become an even greater watering eral bank executives, including hole for the community.” Zions president and CEO Scott Besides a notable spike in Anderson, before securing the local sales traffic, Hatch and financing they needed for the pur- Masterson said that as a result chase of the building, design and of their television exposure, they construction renovation fees and received calls about their choconew equipment. lates from places as far away as “We were blunt with him; Germany, Japan and Australia. we told him that we didn’t have In addition to the Hatch’s all the money in the world, but we shop, the building has 3,400 availhad a vision,” said Hatch. “Scott able square feet that can be dividAnderson is a family neighbor- ed into two units. They’re hoping hood man and a customer, and [our to attract a tenant who will put in project] was something important a quaint restaurant that will appeal to him not as a bank president, to the local community. but as a neighborhood person. Other immediate goals Without Zions, we wouldn’t be in include establishing a company this building.” website and expanding shipping capabilities. They’re also doing all they can to keep prices down – a box of hand-dipped chocolates is currently $26.99 per pound – although rising costs of everything from dairy products to sugar est. 1976 to cocoa beans make that challenging. “The trickle-down effect has affected our prices,” said LET US PROVE IT Masterson. “Our costs of doing business have gone up, plus people are buying less each time. People still want their treats. It’s the everyday people that may bring their kid in for an ice cream cone, but then they’ll pick up a few chocolates – that keeps us moving.” The building was designed by today! 801-972-8288 Pollard Architects of Salt Lake and renovated by Sirq Construction of www.Progressivemail.com South Jordan.
A direct mail partner you can trust.
Call us or visit
Platinum Protection founders buy back company The four original founders of Platinum Protection, a nationwide residential home security provider based in American Fork, have purchased the company from Patriot American LLC. Chance Allred, Jared Hallows, Keith Dyer and Jacob Pruitt now own 100 percent of Platinum. The founders praised the support and guidance offered by Wendell Jacobson and his family, owners of Patriot American LLC, over the last five years. “We are in the strong position we are in today thanks to the business acumen and never-ending commitment of time and resources we received from Wendell and the entire Jacobson family,” Dyer said. “We are very excited about the future and thank the Jacobsons for believing in this great company from the beginning.” “Platinum’s CEO, Andrew Kindfuller, who helped in negotiations, brought executive leadership and professional management and was able to put the company in such a positive and profitable position to accomplish this transaction,” Jacobson said. “He has been a pleasure to work with. Likewise, Scott MacArthur, our CFO, completely revamped
Utah on the Rise By Chris Hipwell, president Associated Builders and Contractors, Utah Chapter
the finance function and brought discipline and clarity to the company.” Platinum, founded in 2006, has more than 165,000 customers in 43 states. During Platinum’s first year it set industry records by selling more than 30,000 accounts with 300 sales representatives and 150 installation technicians. In December 2008, GE Security recognized Platinum with its Homeland Security Award. During its second year Platinum experienced dramatic growth. By investing its resources in infrastructure and by recruiting quality marketing professionals, Platinum grew by more than 200 percent. The company recently moved its corporate headquarters to a new office building in American Fork. Joseph Hepworth of Fillmore Spencer LLC negotiated the transaction for Jacobson while Benjamin Bates of Stoel Rives LLP represented the purchasers.
Study finds small-business employees are less loyal
Although tentative, the economic outlook for small businesses shows some signs of improvement. But according to MetLife’s Ninth Annual Study of Employee Benefits Trends, small businesses (those with fewer than 500 employees) may now face a new challenge, employee retention, as there has been a significant decline in employee loyalty. In November 2008, 62 percent of small-business employees reported feeling a very strong sense of loyalty toward their employer, but in 2010 that number dropped to only 44 percent. In fact, 34 percent of small-business employees surveyed would like to work for a different employer. In contrast, small-business employers’ perceptions of that loyalty remained essentially unchanged over the last few years with 54 percent currently believing that their employees feel a strong sense of loyalty to the company. Benefits Status Quo During the down economy many small businesses held the line on benefits. The study found that, overall, the percentage of small businesses offering certain benefits remained nearly the same in 2010 as in 2007. However, the status quo may not be sufficient in a recovering economy. Approximately 50 percent
5
The Enterprise
Aug. 1-7, 2011
of small-business employees who are not very satisfied with their benefits hope to be working for a different employer. On the other hand, 72 percent of small-business employees who are very satisfied with their benefits feel a very strong sense of loyalty to their employer. “The MetLife study is a reality check for smaller employers who may still be viewing their workforce through rose-colored glasses,” said Jeffrey Tulloch, vice president, U.S. business, MetLife. “Economic recovery will not only present opportunities for employers but also for top performers. One area small businesses may overlook is whether their benefits programs are designed as strategically as they could be. It is not necessarily about spending more, but optimizing offerings to attain three top objectives: employee retention, increased productivity, and cost control. Voluntary benefits are another option for small-business employers seeking a cost-effective way to increase their benefits offerings. The study shows that approximately half of employees find it important to have benefits like life, dental and disability insurance available to them through the workplace even if they have to pay all of the cost themselves.”
As we continue to address the serious labor shortage of skilled tradesmen in the construction industry, let’s explore opportunities that await individuals who are willing to work hard, provide a quality lifestyle for their families and have a burning desire to step up and take responsibility for their own future. A career in skilled trades offers many benefits and allows you to earn a living while you train. Pay is extremely competitive, with many opportunities for advancement, and those who work in the construction industry are making valuable contributions to their communities by engaging in infrastructure, commercial, industrial and residential construction projects. There are many disciplines to choose from, including carpentry, electrician, mason, project management, project supervisor, estimator, heavy equipment operator, welder, company owner and many others. This week’s column will explore the career path of a project estimator. Matt Brower has chosen a career in construction and describes his path to landing a position as a project estimator with Wadman Corp., a Utah top 10 commercial general contractor. ••••• Matt Brower, Estimator, BIM Coordinator, LEED AP BD+C Why do you think training and education are important to the construction industry? We live in a fast-paced world where technology is taking over and the way we construct buildings is different today than it was a few years ago. People who are constantly learning and looking for opportunities to enhance their knowledge will lead the industry in the future.
Describe your career path. I started out as a framer in high school where I learned how to read and interpret drawings. Then I worked for a large contractor doing concrete while I worked toward my degree in construction management at Weber State University. After deciding I liked framing more, I found a job with RJP Construction, a large commercial framing contractor. My third day on the job, Ron Peterson, the owner, came up to me and said I was going to be his estimator. With no estimating experience, he showed me the ropes. I worked there for three years. Shortly after graduation, I was able to secure a job with Wadman, where I am an estimator, BIM coordinator and a LEED AP (Leadership in Energy Brower and Environmental Design). How did you get started in the industry? At the age of 14, my father asked me to help him build our house. I was hooked. I began framing houses in my summers and full time after high school. I found out Weber State had a great construction management program. It was there that I discovered I could make a real career out of construction. How has training, education and construction impacted your life? It has made me who I am today. I would not have this wonderful career had I not received the see ON THE RISE page 15
The Enterprise
6
Aug. 1-7, 2011
• Industry Briefs •
Ogden that meet the mission of labs, systems moldings and much • Loughlin Water Associates ACCOUNTING • H&R Block Inc., a national economic growth, blight reduction more. The Tracy Aviary Visitor LLC, a Park City water resource tax preparation services company, has honored two local tax professionals with the company’s top national client service award for their client service during the 2011 tax season. Cheryl Nageli and Maunette Bacon were recognized as the company’s “mission value participants,” or MVP award winners. The award, established in 2003, is designed to honor the company’s best professionals that place their clients’ needs at the forefront of all services.
BANKING • TAB Bank, Ogden, has
entered a partnership with the Ogden Reinvestment Corp. (ORC) to provide small-business loans and financial assistance to low to moderate income borrowers and workers in the greater Ogden area. The ORC is a nonprofit community development lender that offers loans to startup and expanding businesses in
and job creation, particularly for low to moderate income earners. As a rule, eligible borrowers must be businesses that are “unbankable” or have been turned down by at least one bank in order to apply for a loan with the ORC.
CONSTRUCTION • Two Big-D Construction
projects have been awarded 2010 AIA Utah Design Awards, which offer professional and public recognition for projects meeting client goals with exceptional design solutions. The Center for Advanced Energy Studies (CAES) and the Tracy Aviary Visitor Education Center were the winners. The CAES building, in Idaho Falls, is a 58,000 square foot, two-story LEED Gold research facility. The CAES facility includes office space, hydrogen labs, advanced material labs, imaging suites, radio chemistry labs, analytical instrumentation
Education Center is a design-build project that included new education and guest services spaces, plazas, amenities and extensive site work. The project is being constructed utilizing environmentally responsible building practices and is LEED registered, with the certification goal of Silver.
consultant firm, has added Matthew C. Lindon to its team. He is a hydrological engineer with more than 30 years of experience in the industry. He will be responsible for dam design, rehabilitation, permitting, technical specifications, construction management, inundation mapping, emergency action plans, standard operating procedures and related services. Before joining the Loughlin team, he served for 25 years as an engineer in dam safety and as assistant Utah state engineer in charge of technical services at the Utah Division of Water Rights.
EDUCATION/TRAINING • Westminster College, a comprehensive liberal arts college in Salt Lake City, has added three new members to its board of trustees, Dr. Hamid Adib, Preston Chiaro and Robert Rendon. Adib owns Adib’s Rug Gallery in Salt Lake City. Chiaro is a group exec-
utive for innovation at Rio Tinto, and Rendon is senior vice president and community development director for Zions Bank. • The Utah State Board of Regents has approved a new ethnic studies major at the University of Utah. Students will learn about histories, experiences, challenges and accomplishments that contribute to U.S. society. The ethnic studies major builds on the existing program to provide students with the knowledge and tools to study ethnic and indigenous populations in the U.S. Faculty will engage in research, student-centered teaching and creative collaborations that explore social justice and challenge existing paradigms. New courses, faculty and interdisciplinary partners will be added to maintain and grow the quality of the program.
FINANCE • As part of the fifth annual
What’s IN OUT Back! Economic Summit in Wasatch County, a
Ready to Plan Your Company Picnic!
Complete Catering Service for 40-10,000 Chuckwagon Bar-B-Ques Company Picnics Family Reunions Business Luncheons Open Houses Dutch Oven Cookouts
Bar-B-Que Beef Shredded bar-b-que beef on a bun Dutch Oven Bar-B-Que Chicken/Ribs Potatoes Au Gratin Peach Cobbler Cooked in Dutch Ovens Top Sirloin 10 oz. USDA Choice Top Sirloin Steak Baked Idaho Potato
Bar-B-Que Chicken Smothered in our special bar-b-que sauce Bar-B-Que Country Style Spare Ribs
Baked Chuckwagon Beans Meier’s Homemade Potato Salad Glazed Orange Rolls Fresh Cut Fruit Pasta Shrimp Salad Utah Corn on the Cob-seasonal Ice Cold Lemonade Brownie Sunday- brownie, vanilla ice cream, covered with deep rich chocolate sauce
Hamburger/Hot Dog Meier’s own quarter pound hamburger w/all condiments. Jumbo all beef franks
Hamburger/Grilled Chicken Meier’s own quarter pound hamburger w/ all the condiments. Marinated Chicken Breasts
Tri Tip Roast Marinated/Grilled Chicken Breast
Chuckwagon-K-Bobs Beef & chicken-k-bobs w/ fresh vegetables.
Pork Back Ribs Smoked with applewood marinated grilled chicken breast
All grilling done on site
Boneless Ribeye Steak 10 oz. USDA choice boneless ribeye steak & baked Idaho potato.
Call and reserve your date today! 801-278-4653 www.meierscatering.com
Lion’s Den Venture Capital Contest will be introduced to attract new business to the Heber Valley. The winner will receive a $4,000 grant and the opportunity of a no-cost renewable lease of a 700 square foot furnished office space in Heber City that includes a shared 1,400 square foot conference space and free technical assistance. Applicants must submit a cover letter including contact information and a description of the proposed venture, complete and sign the terms of the competition, complete a business plan and three-year pro forma financials. They will also present a two-minute pitch of their business plan to a panel of experts and in front of an audience of 300 business and government leaders. For more information, visit www. wasatched.com. • The Utah Educational Savings Plan (UESP), Utah’s official nonprofit 529 plan, has reduced its annual administrative asset fee and introduced a new customized age-based investment offering. Effective Aug. 1, UESP will lower its administrative asset fee from 0.22 percent to 0.20 percent, a 9.1 percent reduction for nine of its 12 investment options. The other three investment options have fees below 0.20 percent. The drop drives the annual asset-weighted total fee down to 0.24 percent, the lowest in the country. The customized age-based investment option allows a UESP account owner to design their own investment glide path using the available UESP underlying investment. When the beneficiary qualifies for the next preset age bracket, the investment money will automatically reallocate according to the account owner’s customized allocation. The customized age-based investment allocation can only be established as an account’s investment option online at uesp.org. • Grow Utah Ventures and Zions Bank have chosen the finalists in their Northern Utah Concept to Company Contest, which focuses on technology. One grand prize winner and two runner up winners will be selected. Winnings for the grand prize will be up to $18,000 in cash and services, while runners up will receive up to $8,000 in cash and services. Service prizes are offered from Kunzler IP Law, Forthgear Marketing, Ballard Spahr Law and Advanced CFO Solutions. The cash prize is being offered by the NorthFront Business Resource Center and SEED Weber-DavisMorgan. Finalists will present their ideas to a panel of industry judges. Following finalist presentations and panel deliberation, one grand prize winner and two runner up winners will be selected.
7
The Enterprise
Aug. 1-7, 2011
HEALTH CARE
• The Commission on Accreditation of Rehabilitation Facilities has awarded Pioneer Adult Rehabilitation Services (PARC) with a three year accreditation, the maximum level awarded. PARC is a public nonprofit administered by the Davis School District with the goal of fostering independence for people with disabilities through employment and training, and serves more than 600 people with disabilities in northern
Utah. • Mikelle Moore, former administrator at LDS Hospital, has been named vice president of Intermountain Healthcare’s community benefit department and president of the Intermountain Healthcare Foundation. The community benefit department directs Intermountain’s work to improve the health care services offered to uninsured, low-income and underserved people within Intermountain’s service area. It also partners with other agencies
and organizations that are working to serve these populations. The Intermountain Healthcare Foundation furthers the mission of Intermountain Healthcare by providing grants to fund health care services. • According to U.S. News and World Report’s 2011-2012 best hospital rankings, University of Utah Health Care is the number one health care system in the Salt Lake City metro area. The University’s services in gynecology and ear, nose and throat
were also ranked 47th and 50th in the nation by the magazine. The University was also recognized as high performing in urology, nephrology, orthopedics, pulmonary and cancer care. The core mission of Best Hospitals is to guide patients who need an especially high level of care. This is the first year U.S. News has included the high performing category, which lists hospitals that weren’t ranked in the top 50 in a given specialty, but were still among the top 25 continued on page 13
Mountain America congratulates its Executive Vice President, David Kwant, on being recognized by Utah Business as an outstanding Chief Financial Officer—he is one of the reasons we deliver outstanding results for our members. 2 0 1 1 David Kwant Executive Vice President & Chief Financial Officer People may think that the role of CFO is to measure finances only, but Mountain America sees this responsibility as one that plays a very strategic role in shaping the destiny of the company. David Kwant is a CFO who is experienced in dealing with the cyclical nature of financial markets and knows how to weather the extremes that come. He has helped facilitate smart decision making at Mountain America for more than 20 years. His experience in a variety of different market financial conditions adds a calming influence in turbulent economic times. Quick to adapt, adopt and use new technologies for the benefit of Mountain America David believes that change is the NEW normal. Some of his biggest accomplishments have been realized by grabbing hold of new technologies that have brought about great increases in productivity and quality service that directly benefit members. During his tenure, he has seen Mountain America grow from only 10 branches to 60 branches with $2.8 billion in assets and 350,000 members whose needs are met with innovative products and services.
David is serious about his fiduciary duty and being a good steward of all that he is responsible for, which is proven by his commitment to making decisions that always have the best interests of Mountain America members in mind. He carefully manages members’ resources and emphasizes that what each employee does every day in their work affects the credit union’s bottom line. “I’ve known Dave Kwant for 18 years and worked with him for 16. He has always been one to count on and his excellent character is beyond question. More than having an amazing knowledge base, David has wisdom— that special ability to skillfully apply his knowledge to financial issues and opportunities. He has earned the respect of the financial industry and is well known for his many talents,” notes Sterling Nielsen, president and CEO of Mountain America.
www.macu.com | 1-800-748-4302
8
Aug. 1-7, 2011
The Enterprise
Fear of rejection is bogus I am finally calling BS training are weaker. Fear of rejection and its on the biggest myth in selling. Salespeople quit or fail because evil twin, fear of failure, are best described as excuses. What you’re they “fear rejection.” Give me a break. “Fear of looking for, as a would-be successful salesperson, are reasons rejection” is totally bogus. Managers and sales train- and answers why a sale does not take place. ers alike try to smooth it So, what (other than over by telling you crap fear) are the reasons like, “They’re not rejecting rejection takes place? you. They’re just rejecting And how can you the offer you made them.” decrease your rejection Horse manure! People rate? Wouldn’t you rathreject both people AND er have those answers? offers. Read on: THE MYTH IS: 1. Lack of attitude. Salespeople don’t like Jeffrey Not just lack of a posito cold call because they Gitomer tive or a YES! attitude, fear rejection. Hey Sparky, salespeople don’t like to cold call but also the lack of a winning because it sucks and it’s a waste of attitude. You need to carry a copy of The Little Engine That Could time! THE TRUTH IS: Salespeople on your iPad or Kindle and read it aren’t in fear. (Except maybe of every morning. 2. Lack of preparation in their abusive bosses or proposed “changes” in their comp plan.) terms of the customer. You may They’re vibrant people who make know what you offer, but you may the economy run. “Nothing hap- NOT know what the customer pens until somebody sells some- wants or (more importantly) why he wants it. thing,” said Red Motley in 1946. 3. Lack of belief. Belief is Fear of rejection is an easy way for sales managers and lead- the most important and most comers to explain why their turnover plex, yet least understood, emotion is high. “Bob quit because he in the science of selling. Belief is feared rejection.” Really? I doubt broken down into five parts. Part 1: You have to believe it. Bob quit because your leader- ship is weak and your soft skills you work for the greatest com-
pany in the world. Part 2: You have to believe that your products and service offerings are the greatest in the world. Part 3: You have to believe you can differentiate yourself from the customer in a manner that the customer perceives as valuable. Part 4: You have to believe you’re a great salesperson capable of transferring a message and understanding customer needs. Part 5: You have to believe that the customer is better off having purchased from you. Not believing it in your head. Rather, believing it in your heart. Belief is both painfully obvious and completely ignored when teaching salespeople how to be successful. 4. Lack of sales skills. Since most companies provide poor sales training, it’s the responsibility of the salesperson to gain their own knowledge by investing in books, seminars, online courses and all other means to gain sales wisdom, not just sales knowledge. CAUTION: Do not learn a “system” of selling. Sell in a way that makes you feel comfortable. 5. Lack of personal selfconfidence. Self-confidence and preparation go hand-in-hand. It’s amazing to me that salespeople think they’re nervous when actu-
ally they’re just unprepared. 6. Lack of resilience. This is a key element in the rejectionfailure syndrome. Resilience is your inner strength to react to what happens to you, your outer strength and mental strength to respond to what happens to you, and all your strength to recover from what happens to you. Building resilience wipes away fear. 7. Lack of personal pride in your work. Lack of attention to detail. Consistent lateness. Missed appointments. Cynical comments. Need I say more? 8. Lack of personal pride in yourself. Most people take more pride in their favorite sports team than they do in their career. This will be a direct reflection of the pride that you have in yourself and your performance. Think back to the time you made your biggest sale and recall that memory and that feeling each time you’re in a sales presentation. 9. Limiting self-thought. (I’m not good enough.) Most self-thought comes from the negative side, worried about what might happen versus dedicating yourself to changing the outcome. If you walk into the sale believing it probably won’t happen or you probably won’t get it, than you’re
probably correct. If you want to change your outcomes, you have to change your thinking. 10. Low self-esteem. Someone told you that you’re not that good or not that smart, and you (like a fool) believed them. 11. Limited self-image. You don’t consider yourself equal to the buyer, or good enough to sell the buyer. EXAMPLE: Stockbrokers talking to people of enormous wealth. Car salespeople trying to sell a car they can’t afford to buy themselves. Fear of rejection? Totally false. Fear of failure? Equally false. People that espouse these false fears — avoid them. Jeffrey Gitomer is the author of Social BOOM!, The Little Red
Book of Selling and The Little Gold
Book of YES! Attitude. President of Charlotte, N.C.-based Buy
Gitomer, he gives seminars, runs
annual sales meetings and conducts Internet training programs
on selling and customer service
at www.trainone.com. He can be
reached at (704_ 333-1112 or salesman@gitomer.com.
© 2011 All Rights Reserved
HOME EQUITY LINE OF CREDIT – LOW COMPETITIVE RATES
Promotional rates available, apply today! ALL OTHER FIXED RATE LOANS – Auto, RV, Motorcycle, Personal
Rate discounted .25% from posted rates with any other First Utah Bank account
www.firstutahbank.com
9
The Enterprise
Aug. 1-7, 2011
“Utah company finds $200,000 per year of new, unexpected profit!” Now your company can try our profit finding program for FREE. You are guaranteed to find new, unexpected profit through this limited time offer. Call us today for the details.
It’s never been so easy to... “follow the Profit”
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.”
— Craig Madsen, Partner/Founder, J&M Steel
For more information call 801-738-PRFT (801-738-7738)
10
The Enterprise
Is your business wattsmart? USING ENERGY WISELY IS SMART BUSINESS. You’ll save money and improve your bottom line. With our
© 2011 Rocky Mountain Power
energy-saving programs, your business can make high-efficiency upgrades to everything from HVAC systems and industrial processes to the lights above your head. Plus, we offer technical expertise and cash incentives to help you offset the costs. That’s being wattsmart in business. To learn more, visit wattsmart.com.
Aug. 1-7, 2011
Aug. 1-7, 2011
11
The Enterprise
Political 'cover' How does one write a time- where “between zero and none” ly piece about an ever-changing after they totally missed the subtopic? About one which may or prime mortgage lending crisis of may not get resolved in com- three to five years ago. ing days? About one that may However, a lowered rating or may not lead to a downgrade regarding the quality of U.S. debt of this nation’s $14 trillion plus will lead to modestly higher U.S. outstanding debt? About one that borrowing (interest) costs for years may or may not lead to to come. In turn, borrowa financial crisis? About ing costs of corporations one that could result in for debt, and of consuman historic effort to begin ers for credit cards, auto the process of limiting loans and mortgage loans, future growth rates of will be modestly higher U.S. government spendthan would have been ing, or that merely kicks the case with an adultthe can further down the like response of national road for politicians to politicians in recent days, deal with later? Jeff Thredgold weeks, and months. How Given all of these sad. How pathetic. uncertainties, certain fac • For the umpteenth time, tors seem clear. please note that the term “spend • An actual default on U.S. ing cuts” should be taken off the interest payments or maturing negotiating table. In regard to debt payoffs is highly unlikely to entitlement programs of Social happen. The enormous egos found Security, Medicare and Medicaid, in Washington, D.C. have an eye as well as with most government to the future. programs, we are talking about I guarantee you that President slowing down future growth rates Barack Obama, U.S. Treasury of spending. Any reference to Secretary Tim Geithner and “spending cuts” is only when other key political players in the compared to long-term baseline debt ceiling increase showdown projections of spending. We will DO NOT want to be identified spend more money each year on in future history books as those all of the entitlement programs, as who were “minding the store” well as most other programs. when this great nation defaulted For example, politicians like on its debt (I could be wrong … to infer that reducing a future prowouldn’t be the first time, nor the gram growth rate from 9 percent last). annually to 8 percent annually is a You can bet that the Treasury spending cut. Only in the fantasy Secretary and the President will do land of Washington, D.C. can you everything in their power to keep spend more money each year on interest payments made and bond a program and call it a spending maturities paid. In fact, financial cut. Rather than provide clarity data suggests that tax inflows in to taxpayers, politicians prefer to recent weeks to the U.S. govern- demonize the other side with talk ment have been decidedly stron- of spending cuts. How sad. How ger than expected. pathetic. The Aug. 2 date of poten- • Assuming the high likelitial default has been unofficially hood of an increase in the debt extended in some circles to Aug. ceiling in coming days (note: 10-15, with numerous observ- the debt ceiling has already been ers noting that the U.S. Treasury increased 100 times since 1940), Department could juggle funds the focus will then be on creating so as to keep most payments a viable plan to reduce unprecmade well into September. Social edented and destructive budget Security payments and military deficits in years to come. pay will also continue, with the The Republicans will focus possible need to then prioritize on slowing the future growth rate other payments as necessary. of entitlement and other programs. • Barring a much stronger They will begrudgingly accept plan to boost the debt ceiling and some modest revenue enhancereduce future budget deficits than ments as the price of getting a deal currently seems likely, at least done. one of the three major debt rat- The Democrats will fight to ing agencies — Moody’s, S&P, maintain spending levels of most and Fitch — will likely reduce programs, especially in the entitlethe Aaa/AAA/AAA bond ratings ment area. They will push for tax of the United States of America hikes on all those “rich” people within six months. This remains making more than $200,000 annutrue even if the debt ceiling is ally. As before, discussions will passed, and is combined with what get largely nowhere. is viewed as a weak plan to get I would suggest that the real this nation’s financial house in opportunity to achieve solid and order. required progress would emerge Granted, the credibility of from the creation of a congressiothese rating agencies in recent nal committee to study all aspects years has been reduced to some- of federal revenues and spending,
make tough choices and report back to the Congress for an “up or down” vote, perhaps early next year. Wait a minute … didn’t we do this when the President’s deficit reduction commission reported its finding on Dec. 1, 2010? The simple answer is “yes” and “no.” The President’s deficit reduction commission (a.k.a. The National Commission on Fiscal
Responsibility and Reform), chaired by former Clinton administration chief of staff Erskine Bowles and former Republican Sen. Alan Simpson, had limited teeth. In fact, 14 of the 18 committee members had to agree on its recommendations in order for the Congress to be required to vote on it. Only 11 votes were affirmative, therefore the recommendations, in
my mind the most comprehensive of all recent deficit reduction proposals, simply languished on the vine. The better alternative is similar to the National Commission on Social Security Reform of 1983 (informally known as the Greenspan Commission) and the five BRAC (Base Realignment and see THREDGOLD next page
support
what you
GAIN MARKET SHARE. LEARN HOW. Focus W UTAH
a sa t c h Fr o n t
W
801.533.0556 ext. 237 • www.slenterprise.com
12
Aug. 1-7, 2011
The Enterprise
Need an equipment loan? Business lending is our business.
Member FDIC
Dan Bradshaw
VP/Commercial Loan Center Manager 801.924.3667 dbradshaw@bankofutah.com
SUBSCRIBE TODAY! Call (801) 533-0556 or visit www.slenterprise.com
C E L E B R A T E
t h e
P A S T b y
G I V I N G
i n
t h e
PRESENT t o
P R O M O T E
o u r
FUTURE
Goal setting — the formula for greater sales The average salesperson clouded and obscure. A goal can spends their day “stirring the pot pull us toward the achievement we of activity,” or, as my good friend so desperately desire. Gordon Wilson refers to it, “trying In the Law of Success, to boil the ocean.” A lot of activity Napoleon Hill’s first book, he and motion may keep one busy describes the insight he gained and tired, but it won’t necessarily from his research into the power produce sales and wealth. of goal setting: On a bright and sunny “Any definite winter day, I can sit in chief aim that is delibmy office with the blinds erately fixed in the mind open, enjoying the gentle and held there with warmth of the sun. All that determination to realsunlight flooding into my ize it, finally saturates office will generate a small Tim Huffaker the entire subconscious amount of heat. However, mind until it automatiif I were to pull out my cally influences the magnifying glass and capture just physical action of the body toward a small amount of that light into the attainment of the purpose.” a narrowly focused beam, I could That statement is a profound burn a hole right through the car- insight into the power associated pet. with setting goals. I don’t know Sales activities are exactly that I truly understand how it the same way. Broad and general works, but from personal experiactivities are like trying to boil ence and the experience of the the ocean, whereas specifically salespeople I train and coach, I focused activities will burn holes can testify that it really works. Let in areas where other salespeople me share an actual example of this couldn’t even create warmth. Goal principle, in the words of one of setting provides a narrow focus of my clients. activity sufficient to achieve an “I was short about $10,000 objective. The goal dictates the when I met with my sales coach, direction of our efforts and acts as and as he left he said to me, ‘call a beacon when activities become me when you reach your goal.’ I thought to myself, ‘I’m going to do everything I can to make An American Heart that phone call. What a rewarding Association Memorial gift lets feeling it would be to know that I you honor your loved gave it all I had and it allowed me one and gives hope to others. to achieve my goal.’ As the last For more information please day of the month approached, I call 1-800-AHA-USA-1 or visit us was down to literally the last hour online at americanheart.org of the day and I got a couple of phone calls from customers that I had quoted last year that I had forgotten about. I had to resend
4.625x2.5 All ads are one color only (preferably black) Black border does print
Accuscan: 20% off full body scan
California Pizza Kitchen: 20% off entire order
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.
them quotations and didn’t think that they would purchase as soon as they did. Needless to say, I was able to make the phone call to my sales coach to report that I had made my goal and exceeded it by $1,000.” The power of goal setting is clearly established through the infamous folklore article about goal setting at one of the leading business schools in America. Even though it is fictitious, one can derive value from its message. Here it is: In 1979 Harvard University did a study among the graduating seniors from the business school. They asked them, “What plans and goals do you have after graduation and have you written them down?” The responses were startling. They were very similar to the Yale study of 1953. The study found that only 3 percent of the people who were graduating had clear written goals and plans for their life. Another 13 percent had goals and plans, but they hadn’t written them down. An amazing 84 percent of all graduating seniors had no goals at all except for graduating and enjoying the summer. Ten years later in 1989, they surveyed these same people again. They found that the 13 percent of men and women who had goals and plans when they left the university, but who hadn’t written them down, were earning on average twice as much as the 84 percent who had no goals and plans at all. But they found that the 3 percent of men and women who had clear, written goals and plans, blueprints to follow once they’d left the university, were making on average 10 times as much as the entire 97 percent put together! The power of being clear about who you are and what you want in life is absolutely amazing. Surprisingly enough, there are salespeople who don’t set goals. They will work as hard as they can to achieve all that they can, but they refuse to set goals. Why would this be? The answer
THREDGOLD from previous page
Closure) commissions between 1989 and 2005, all creations of the U.S. Congress. Such recommendations to strengthen Social Security and to close excess military bases required an “up or down” vote from the Congress, with NO changes to the recommendations. Given difficult decision making, the congressional committee process has worked before. Perhaps most importantly in the eyes of congressional members highly focused on getting re-elected, it provided politi-
is simple. They don’t want to fail! They believe that by setting a goal, by creating a “have to” situation, they are setting themselves up for failure if they miss the mark. Nothing could be further from the truth. By not setting goals they will never realize the power that lies within them to achieve far more than they ever believed they could achieve. A couple of years ago I had a client who set a company record for the most gross profit sales ever made by a salesperson in a year. In 30 years of business, his sales were the most ever recorded! He was feeling pretty good about his efforts, having reached that plateau. He pondered long and hard about his accomplishment and then asked himself how much more could he achieve. He set a new goal, one that seemed nearly impossible, and began working diligently to achieve it. By the end of the year he had not only achieved his goal, but exceeded it. He made the comment that he was driven in his daily efforts by the fact that he had a goal to achieve. His personal sales were greater that year than what the whole company had sold three years earlier, and three years earlier the company had its best year ever. Sales people without a goal, no matter how hard they work, will fail to achieve their true destiny. They will never be successful until they reach beyond themselves, until they challenge their very core. The world of sales is replete with salespeople working hard, but successful salespeople are those who work hard with their efforts clearly focused on a goal that pulls them towards success. Tim Huffaker is the president of The Business Performance Group, a sales training and coaching firm headquartered in Salt Lake City. The company teaches core sales principles and skills, allowing clients to double their sales. Huffaker is the author of hundreds of sales articles and can be contacted at (801) 557-4571 or tim@bpgutah. com.
cal cover — a political “scapegoat” — someone or something to blame for difficult decisions that had to be made, without the chance to change commission recommendations. It might just be the best road to follow. Jeff Thredgold is the only economist in the world to have ever earned the CSP (Certified Speaking Professional) international designation, the highest earned designation in professional speaking. He is the author of econAmerica, released by major publisher Wiley & Sons, and serves as economic consultant to Zions Bank.
from page 7 percent in the nation. • AAPC Physician Services, a West Valley City-based national provider of practice management solutions to help health care providers effectively address critical issues facing their practice, has launched its Medical Office Compliance Toolkit to help medical practices simplify adherence to complicated compliance require-
13
The Enterprise
Aug. 1-7, 2011 ments. The toolkit features steps to create an effective compliance plan in days, and maintain compliance with the most recent HIPAA, OSHA and CLIA regulations. It is available for $149 on the AAPC Physician Services website, www. aapcps.com.
HOSPITALITY • Arvada, Colo.-based Gondola Resorts Inc. is expanding its vacation rental business
into the state of Utah. The company will feature operations at three resorts — Park City, Deer Valley and The Canyons — offering more than 150 vacation rentals via a downtown Park City office. The 2011/12 ski season will see offerings for such Park City locations as The Galleria, Lift Lodge, Edelweis Haus, Park Station, Snowcrest, Town Pointe and The Racquet Club. Gondola Resorts has also partnered with Park City
Lodging Inc. to offer full 24-hour services via their downtown Park City welcome center. • A hotel at 280 W. 7200 S., Midvale, has switched affiliations from Best Western to Magnuson Hotels, which bills itself as the world’s largest independent hotel group. The 91-room hotel is owned by Pam and Gaylen Nate, who said the switch was made due to decreased travelers throughout the state due to the
economy as well as challenges with unrealistic expectations from Best Western. Magnuson Hotels now has 38 hotels in Utah.
INSURANCE • Intermountain Financial
Group LLC, the Utah agency for Massachusetts Mutual Life Insurance Co., has awarded Steve Dyches and Tony Christensen with the agency Rising Leader continued on next page
14
Aug. 1-7, 2011
The Enterprise
from previous page Award, recognizing them as two of its top financial service advisors. The Rising Leader Award honors individuals who have achieved the highest level of sales and service performance in their first five career contract years.
MANUFACTURING
• Dr. Rowland T. Moriarty has joined Packsize LLC, a Salt Lake City-based international provider in lean packaging systems, as a member of the board of directors. Moriarty is the current chairman of Charles River Associates International and vice chairman of Wright Express Corp. Moriarty will assist the on-demand packaging provider with corporate governance and in achieving its growth objectives. He currently serves on the board of directors of four public companies and two privately held companies, including Packsize.
MEDIA/MARKETING
• Sue Kelly has been named program director of KBER and KHTB for Citadel Broadcasting
Group in Salt Lake City. Citadel Broadcasting locally operates Country KUBL-FM (93.3), Adult Contemporary KBEE-FM (98.7), Utah’s New Alternative KENZFM (101.9) Rock KBER-FM (101.1), Z Rock KHTB-FM (94.9) and The Big Talker KKAT-AM (860).
PHILANTHROPY
• The 2011 Utah Philanthropy Day luncheon is scheduled for Thursday, Nov. 2 from 11:30 a.m-1:30 p.m at the Little America Hotel in Salt Lake City. Every year, the Utah Nonprofits Association, a provider of resources and support to local nonprofits, and the Utah Society of Fund Raisers, an organization that serves Utah’s non-profit institutions through advocacy, training and education, honor leaders in philanthropy be presenting them with awards at a gala luncheon. In addition to the awards, the Utah Nonprofits Association and Utah Society of Fund Raisers honor an individual or couple with a Heart and Hands award, which recognizes those who make significant
contributions through volunteer or philanthropic service.
services, such as underwriting and processing.
REAL ESTATE
RETAIL
• Utah has the fourth highest closing costs in the nation, according to Bankrate Inc’s 2001 Closing Costs Survey. Across the nation, closing costs are up 8.8 percent over the last 12 months, according to the survey. Origination and title fees on a $200,000 home loan average $4,070. The four most expensive states are New York with average closing costs of $6,138 followed by Texas at $4,944, Utah with $4,906, and California with $4,832. Closing costs have jumped nearly 10 percent over the last year because of fees lenders are now directly charged, according to Bankrate. New regulations require more staffing and cost more money; banks are requiring extra employment verification and the like to keep loans in shape for Fannie Mae and Freddie Mac. On average, lenders charge about $1,614 in origination fees this year, up 10.3 percent from last year. Origination fees include lender charges for
Come and Play Where
Fun is universal! Mariner of the Seas®
7-Night Mexican Riviera Departing from Los Angeles, California
485*
Starting from: $
Freedom of the Seas®
7-Night Eastern or Western Caribbean Departing from Port Canaveral, Florida
549*
Starting from: $
Monarch of the Seas®
3/4-Night Bahamas Departing from Port Canaveral, Florida
169*
Starting from: $
Book any 2010 cruise and receive an onboard coupon booklet
• Overstock.com, Salt Lake City, will provide the furnishings and home accessories at a Parade of Homes townhome at 7800 S. 100 W. in Midvale. The townhome is part of the Rooftops at 78 Hundred, a community developed by Solstice Homes. The Parade of Homes, presented by the Salt Lake Home Builders Association, includes 27 homes and 15 builder models. • Based on the success of the recent opening of a store in Jordan Landing, Salt Lake Citybased retailer DownEast Home & Clothing is thinking seriously about opening additional Utah locations, according to COO Rich Israelsen. The company already has 24 locations. Stores are also located in Arizona, Washington and Southern California. • Harmons Grocery Stores is celebrating its 79th birthday. The firm was founded in 1932 when Jake and Irene Harmon opened the Market Spot fruit stand on Main Street and 3300 South in Salt Lake City. Their son, Terry and his wife, Doreen, grew the business to 12 stores over 40 years. Now, with third and fourth generation Harmons continuing in the business, Harmons operates 14 stores from Ogden to St. George. The chain will open a 15th store, Harmons Emigration Market, in early fall and a 16th in the downtown City Creek development in spring of 2012. Harmons, continues to be one of the few remaining locally owned and family operated grocery chains in Utah. • O.co, formerly Overstock. com, a Utah-based online retailer that sells name-brand products at discounted prices, has been given the 2011 Corporate Role Model award for Utah’s annual Clear the Air Challenge, which is a monthlong competition that challenges Utah residents to reduce vehicle emissions by choosing alternatives to driving alone, including 1187_1proad_0103_life_2col_sq public transportation, carpooling
and active transportation. The challenge is coordinated by government, business and community organizations and sponsors, and ran from June 13 through July 10. O.co challenged its employees to ride their bikes to work as part of the challenge. More than 50 employees participated in the bike challenge, with some riding from as far south as Provo.
SERVICES
• Park City lawn care company, Greenleaf Enterprises Inc., has filed a lawsuit in the federal district court against DuPont, alleging its new herbicide, Imprelis, is causing severe damage to evergreen trees and shrubs. The suit alleges DuPont has been marketing and selling Imprelis as an environmentally-friendly solution for controlling weeds in grass and turf, and that since early June, damage to evergreen trees in treated areas has been seen nationwide. According to the suit, initial studies indicate that Imprelis is the culprit, and complaints have been so numerous that the EPA has begun an investigation into the product. Greenleaf claims it purchased and used only two gallons of the product, yet has documented damage in more than 250 of its customers’ trees. Greenleaf estimates that of those, over 150 are likely to die. • Steve Hampton of Hampton’s Elite Mobile Detailing, Riverdale, joined a handpicked team of 30 detailers who traveled to Seattle the week of July 25-Aug. 1 to restore two historic paragons in U.S. aviation history. The first presidential jet plane (Air Force One) known as SAM (Special Air Missions) 970 was a flying Oval Office for four U.S. Presidents — Eisenhower, Kennedy, Johnson and Nixon. The Boeing 707-120 also entertained many international VIPs such as Nikita Khrushchev and Henry Kissinger. The team also refurbished a rare WWII B29 Bomber known as T-Square 54, both of which are on exhibit in Seattle’s Museum of Flight.
Ask us about Universal Studios packages in conjunction with your 3, 4, or 7-Night cruises departing from Port Canaveral!
W H AT T O O K Y O U A L I F E T I M E TO LEARN CAN BE LOST IN MINUTES.
For Reservations and Information, Please Contact Your Professional Travel Agent:
Cruise and Travel Masters 4376 South 700 East • Salt Lake City, UT 84107
(801) 268-4470 or (800) 264-0557 www.cruiseandtravelmasters.com
WITH A STROKE, TIME LOST IS BRAIN LOST. Lear n the war ning signs at StrokeAssociation.org or 1-888-4-STROKE.
*All itineraries and prices are subject to change without notice. Certain restrictions may apply. Government taxes and fees are additional. ©2010 Royal Caribbean Cruises Ltd. Ships’ registry: The Bahamas. 10019666• 6/29/10 ©2004 American Heart Association Made possible in part by a generous grant from The Bugher Foundation.
15
The Enterprise
Aug. 1-7, 2011
Business networking: the subculture of relationship marketing Every week, hundreds of working group, says networking small-business owners, salespeo- allows him to “be the go-to perple and business managers con- son.” Bond is one of those guys verge at restaurants, libraries, cof- who just seems to know everyone. fee shops and other meeting plac- Businesses that cater to other busies around the Salt Lake Valley to nesses also benefit from having meet other entrepreneurs to share many resources to share with their referrals and marketing clients. Being an expert ideas and build a circle in one field is great, but of trust. Relationship being able to share a refermarketing is not new, ral with a client and knowbut with the onslaught ing that referral is going of online social media to take good care of the websites, face-to-face client is golden. meetings have become Besides the obvious beneven more important in John Stewart efits of gaining clients, the digital age. networking connects Perhaps you have dynamic people with othbeen to a restaurant during the day ers seeking knowledge and advice. and seen a large group of well- Many mentoring relationships dressed people having a meet- can develop through networking, ing. Chances are, you may have allowing for a positive sharing of witnessed a business networking business knowledge. Some netmeeting. These groups cater to working groups, like The Art of small-business owners and man- Business 2 (squared), promote the agers who are looking to promote educational and mentoring aspects their businesses by building solid of networking as part of their trust relationships with other busi- weekly meetings. Networking can ness owners. By learning about also help an individual increase each other’s businesses and get- his or her personal communication ting to know the individuals per- skills. sonally, a circle of trust can devel- Most networking meetings op. This opens up the door for follow a basic format. The meetmentoring, sharing referrals and ings take place at public meeting developing a resource network. areas or restaurants. Each per Bob Bond, chairman of the son at the meeting usually gets Murray Chamber of Commerce a chance to stand and tell everyand organizer of the TLC (True one about their business and what Loyal Connections) business net- kinds of referrals they are looking
for. There may be presentations by some of the participants of the meeting, a time for testimonials or reviews of businesses and people, and sometimes educational presentations. Often, the most important part of the meetings are the times before and after when participants meet, share business cards and set up meetings outside the event. These meetings, sometimes referred to as “one-to-ones,” allow people to learn about their prospective businesses and help to build solid relationships. These face-to-face meetings allow the participants to truly connect on a level that a social networking website cannot match. Most people who truly embrace business networking and relationship marketing learn early on that they must adopt an attitude of giving. BNI (Business Networking International) is a worldwide networking organization that understands the principle of giving. Their mantra, “Givers Gain,” is one of the principle foundations of the organization. Dr. Ivan Misner, the founder of BNI and a bestselling author, based his networking organization on that theme. “When you give to someone else because you want them to succeed, everybody wins,” Misner said. “You’re setting yourself up
An owner will request pricing on a project and the estimator develops pricing. We review drawings, find out what trades will be needed and then we work with subcontractors of those trades to determine pricing. Many times we are bidding against other contractors and have to be aggressive, but still make sure we cover all our bases. ••••• Credentials include a B.S. in Construction Management with a Minor in Business from WSU, LEED AP, American Institute of Construction (AIC) Certification, Sigma Lambda Chi Construction Honors Society. Brower will begin teaching a class at the
Ogden Weber Applied Technology College this fall, “Introduction to Green Construction Methods”. There has never been a better time to enter the trades, and quality training programs are waiting for those who endeavor to enhance their lives and the lives of their family. Contact ABC Utah for more career path information.
ON THE RISE from page 5
education and training I did. It has also given me a broader knowledge of all parts of construction that I never would have learned without switching jobs constantly. Above all, it has opened up many doors for me. How do you feel that you positively impact your company and the construction industry? Coming from the generation of technology adapting to the technological changes we face comes much easier to me. I constantly want to learn new things and I bring that new knowledge to both Wadman and to the industry. When we have to adapt to changes I am not afraid to step in and take on that responsibility. Why would you recommend your career path to someone who is thinking about the construction industry as a career path? The construction industry is amazing. It has its hard days but the opportunities are endless. There are so many pieces of the construction puzzle that can fit different personalities. One day you can start out making $10 and hour and within a few years, be a superintendent on a multi-million dollar project making six figures. Describe your job responsibilities as project estimator.
for success because the more good you do for others, the more good others want to do for you.” Effective business networking means you have to do more than just show up. David Thompson, a member of the Utah BNI leadership team and a business coach, reflects on the importance of learning how to network with goals. “How many times have I seen (and occasionally done) people attending an event without goals, as if their presence was sufficient to make things happen,” he said. “Don’t get me wrong, even a blind dog can find a bone once in a while.” Thompson recommends setting goals for each networking event. Think about other professions that may be good referral sources for your business, then look for those people at networking groups. Get to know those individuals who may share similar clients and customers and adopt an attitude of giving. Many small businesses rely on business networking and referral marketing for 100 percent of
John Stewart is the operations manager for inQuo, a computer support and repair company based in Salt Lake City. With more than 20 years of combined experience, the inQuo staff can fix a wide variety of computer issues for small businesses and home users. For more advice and information visit www.inquo.wordpress.com, call (801) 349-2762, or send e-mail to info@inquo.com.
Associated Builders and Contractors (ABC) is a national association with 75 chapters representing 23,000 merit shop construction and construction-related firms. For more information call (801) 708-7036 or visit www.abcutah.org.
their business. It can work, but it does require some effort. It is important to be a regular participant in networking meetings and groups. Educate yourself on the best practices of business networking to make your time involved as productive as it can be. Make yourself stand out as an expert in your field, as well as a circle of influence in the community. Develop a plan for networking and make sure to speak clearly and paint a picture of how your business can solve the needs for potential clients. Building honest and solid relationships is the key to making the most of the business networking experience.
Lane Beattie President and Chief Executive Officer Salt Lake Chamber of Commerce
16
Aug. 1-7, 2011
The Enterprise
• Aug. 3, 7-9 a.m.: SemiAnnual “Technology of Gear” Event, presented by the Outdoor Industry Association, Stoel Rives LLP and Grant Thornton. Participants will learn how the innovation of gear continues to change the way outdoor enthusiasts access the outdoor experience. An interactive panel discussion, will take place prior to the start of the 2011 Outdoor Retailer Summer Market and will feature representatives from leading outdoor companies addressing the innovation, evolution and commercialization of outdoor gear technology and other innovative business practices. In addition to the panel discussion, the event will consist of an innovation showcase featuring some of the latest products from outdoor companies during the networking and breakfast portion of the event. Location is the Marriott Downtown, 75 S. West Temple, Salt Lake City. Free to OIA members, nonmembers pay $45. Register at http:// TechofGearSummer2011.eventbrite.com. • Aug. 11-Sept. 8, Thursdays from 8 a.m.-4 p.m.: Supervisory Skills Program-Five-Day Certificate Program, sponsored by The Employers Council. The program is designed to provide participants with thorough knowledge of contemporary skills to be effec-
tive in the workplace. Instructor will be Dr. Brent Soffe. Location is the Salt Lake Community College Downtown Campus, 231 E. 400 S., Salt Lake City. Cost is $640 for council members, $799 for nonmembers. Enrollment is limited to 30. Download the registration form at http://ecutah.org/ssp.pdf. • Aug. 11, noon-1:30 p.m.: Utah Technology Association Meeting. Tom Dickson, CEO of Blendtec, will be the guest speaker. Location is The Barn at Thanksgiving Point, 3003 n. Thanksgiving Way, Lehi. Cost is $45. Register at www.utahtech. org. • Aug. 17, noon: “Salt Lake Chamber University — Mixing Four Generations in the Workplace,” an online video course by generational expert Cam Marston. Generational conflict costs billions of dollars in lost productivity to organizations worldwide. The video is designed to reduce workplace conflict and provide managers and supervisors with strategies for dealing with recruiting, retaining and motivating, and using generational differences in a positive way. Cost is $99 per group and includes a copy of the whitepaper “The Millennial Workforce: How to Reach Them and Why It’s Important.” Lunch will be served. Register at http://slchamber.bizvision.com/
• Calendar • video/3469. • Aug. 18, 7:30 a.m.: Seventh Annual Utah Manufacturers Association Best Practices Expo. Keynote speaker will be Jeff Edwards, president and CEO of EDCUtah. Awards for best practices will be presented to Futura, Autoliv, Firestone Building Products, MEP, UCAT and Hyperion Solutions. Location is Weber State University, Ogden. Cost is $30 for UMA members, $40 for nonmembers, including breakfast and lunch. RSVP to Teresa Thomas by Aug. 14 at (801) 363-3885 or teresa@umaweb.org.
Everything in the print edition, plus much more, is now available on our new website, www.slenterprise.com. Contact Sarah at (801) 533-0556 ext. 208, or sarah@slenterprise.com, to set up a user name and password.
Money Class
Find out what you can do to secure a hopeful and sustainable financial future in light of the new economic reality.
and hosted by the Salt Lake Community College Jordan campus. Cost is $39. Register at www. chamberwest.org or by contacting Holly at (801) 673-332 or holly@ chamberwest.org. • Nov. 4, 7 p.m.: Utah Technology Council 2011 Hall of Fame Gala. Keynote speaker will be Larry Eillison, founder and CEO of Oracle Corp. Location is the Grand America Hotel, 555 S. Main St., Salt Lake City. A networking session will begin at 6 p.m. Cost is $300 for UTC members, $450 for nonmembers. Register at www.utahtech.org.
SIGN UP TO READ THE ENTERPRISE ONLINE
Suze Orman’s
Sat. Aug. 6 9AM, 11AM
• Sept. 13, 10 a.m.-noon: “Developing Superior Customer Service,” sponsored by Associated Builders and Contractors of Utah. Henry “Dutch” Hempel, a business consultant for the construction industry, will be the presenter. Location is the ABC offices, 2130 S. 3140 W., Suite B, West Valley City. Cost is $10 for members, $15 for nonmembers, who must prepay. Register with Jodi Frank at (801) 708-7036 or jfrank@abcutah.org. • Sept. 30, 9 a.m.-5 p.m.: Dave Ramsey’s EntreLeadership Nationwide Simulcast Training Event, presented by ChamberWest
Aug. 1-7, 2011
17
The Enterprise
18
Aug. 1-7, 2011
The Enterprise
Obama losing patience as Republicans panic
At long last, President Obama Mitch McConnell, R-Ky., proseems to have run out of patience posed a near-complete surrenwith the truculent Republicans der, with a three-step maneuver who have rejected all of his over- that would allow the debt ceiling tures for a budget deal — just to rise while still permitting the as Moody’s and other economic Republicans to pretend that they authorities again warned disapprove. of the potentially cataSeeking to justify this strophic consequences of panicky abandonment of a debt default. his own tough-sounding Finally, Obama stood rhetoric a week ago, up at the bargaining table McConnell told rightand walked out of the wing radio host Laura stalemated budget talks, Ingraham that blowing telling House Majority the Aug. 2 debt ceiling Leader Eric Cantor, R-Va., Joe Conason deadline could lead to that he will “take this to the same political result the American people” unless the as the government shutdowns of Republicans showed a real incli- the Clinton era — only perhaps nation to compromise. Exactly worse. what the president meant by that A faithful servant of big remark is not yet clear, but some money, McConnell appears to leading Republicans have now have realized that a Treasury realized that pandering to their default — unprecedented in our party’s hard-line base could have history — could cause permanent serious consequences for them as damage not only to the nation’s well as for the country. credit and the world economy, but Political schizophrenia broke might well ruin the Republican out among the Republicans on Party, too. Capitol Hill even as Obama con Noting that President Clinton fronted them in the White House. easily won re-election the year In the Senate, Minority Leader
after he faced down a Republican caucus in a budget debate that led to two government shutdowns, McConnell predicted that Obama “will say Republicans are making the economy worse. ... It is an argument that he could have a good chance of winning, and all of a sudden we have co-ownership of the economy. That is a very bad position going into the election.” Letting America default is a bad idea, he said, because it “destroys the GOP brand.” In other words, American voters might blame Republican candidates for a worsened recession, caused by their ideological obsession and partisan selfishness. Voters might finally express their disgust with Republican legislators who worry more about the mindless raving of Michele Bachmann than the expert opinion of Ben Bernanke, the Federal Reserve chairman who outlined the consequences of default in Congress on Wednesday. As outlined by Bernanke, whose own Republican credentials are impeccable, the ominous storyline should not be
difficult to follow even for the average politician. Bernanke told the House Financial Services Committee that default would cast grave doubt on the value of the Treasury bond, which “is viewed as the safest and most liquid security in the world, and the notion it would become suddenly unreliable and illiquid would throw shockwaves through the entire global financial system.” While Bachmann may disparage such warnings as “scare tactics,” the threat that default portends for everyone from grandmothers depending on Social Security checks to the struggling economies of Europe and Japan is real. Indeed, its effects are already being felt. Where the president’s mounting frustration will lead remains to be seen. What did he mean when he told the Republicans not to “call my bluff”? Although Obama, the constitutional law professor, would prefer not to invoke a controversial 14th Amendment power to overrule Congress and raise
the debt by fiat, he can now cite McConnell (and many other conservatives) in his defense. Should the Republicans in the House someday seek to impeach him over such a move, he could honestly reply that he was responding to a clear and present danger to the nation and the world — and that the leaders of their own party in the Senate had agreed with him. Americans who broadly oppose default, and who overwhelmingly favor increasing taxes on the rich to avoid it, might well be persuaded by that argument. 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
Aug. 1-7, 2011
19
The Enterprise
Debt ceiling chicken The big news, as far as the Anyone who wants to show media are concerned, is the politi- that Moody’s is wrong should be cal game of debt-ceiling chicken prepared to show the actual benthat is being played by Democrats efits of the debt-ceiling, not its and Republicans in Washington. goals or hopes. That will not be But, however much the media easy, if possible at all. are focused on what is happening Too many policies, programs inside the Beltway, there and institutions are is a whole country outside judged by what they are the Beltway — and the supposed to do, rather time is long overdue to than by what they actustart thinking about what ally do and the conseis best for the rest of the quences of their actions. country, not just for right The United Nations, for now but for the long haul. example, survives as a However the current glorious idea, despite Thomas debt-ceiling crisis turns how corrupt, counterSowell out, the current economic productive and even danturmoil in financial markets gerous its actions are. around the world should cause The national debt-ceiling some serious thoughts about the law should be judged by what it long run, and about the whole idea actually does, not by how good of a national debt-ceiling. an idea it seems to be. The one Some people may have been thing that the national debt-ceiling shocked when the credit-rating has never done is to put a ceiling firm Moody’s recently suggest- on the rising national debt. Time ed that the debt-ceiling law be and time again, for years on end, repealed, in order to avoid fis- the national debt-ceiling has been cal crises which can throw world raised whenever the national debt financial markets into turmoil that gets near whatever the current can injure countries around the ceiling might be. world. Regardless of what it is sup-
posed to do, what the national debtceiling actually does is enable any administration to get all the political benefits of runaway spending for the benefit of their favorite constituencies — and then invite the opposition party to share the blame, by either raising the national debt ceiling, or by voting for unpopular cutbacks in spending or increases in taxes. The Obama administration is a classic example. When all its skyrocketing spending bills were being rushed through Congress without even being read, the Democrats had such overwhelming majorities in both the Senate and the House of Representatives that Republicans had all they could do to get a word in edgewise — even though their words had no chance of stopping, or even slowing down, the spending of trillions of dollars. Now that the bill is coming due for all that spending and borrowing, Republicans are suddenly being invited in to share the blame for either raising the national debt ceiling or for whatever other unpopular measures will be legis-
lated. Many years ago, someone said, “If you didn’t invite me to the big take-off, don’t invite me to the crash landing.” This was Obama’s big spending spree, but “bipartisanship” requires Republicans to either split the bill or be blamed if the government shuts down or defaults. What would happen if there were no national debt-ceiling law? Those who got the political benefits from handing out trillions of dollars of the taxpayers’ money (plus borrowed money) would also get the clear and sole blame for the resulting skyrocketing national debt and all the unpopular consequences. Those people who want serious and substantial spending cuts are absolutely right in what they want. There are not only government programs that need to be cut but whole government agencies, including Cabinet-level Departments, that are not merely useless but positively harmful on net balance. There are a lot of things
that could be cut, and should be cut, instead of defaulting on the nation’s debts. But that is not likely to happen, if Obama and his media chorus can instead blame the Republicans for forcing a government shutdown or a credit default. Regardless of how the current crisis is resolved, Moody’s suggestion of repealing the national debtceiling law deserves some very serious thought, because that law is the crucial factor in the political games that allow big spenders to blame others for the consequences of their own irresponsibility. Those who say that the reckless spending and reckless borrowing of the Obama administration are the roads to ruin are absolutely right. Too many policies and institutions are judged by what they are supposed to do, rather than by what they actually do. 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
“Giving more people access to higher education...” — Michael O. Leavitt Former Utah Governor and WGU Founder
Led by former Utah governor Mike Leavitt, 19 governors had the vision to create an online university to provide an outstanding education for busy working adults. Now 25,000 students strong, nonprofit WGU is award-winning, accredited, and committed to excellence. Flexible and affordable, WGU’s rigorous, competency-based programs are opening new career opportunities for thousands of Utahns. Like you. We invite you to learn more by calling us at 888.882.6204 or visiting us at wgu.edu/utah.
888.882.6204 wgu.edu/utah
10-14002_wgu-utah_print_ad-10.25x13.5 - utah business.indd 1
7/6/11 5:14 PM