Wichita Business Magazine - March 2022 Issue by E2 Communications & Publishing

GOING UNDERGROUND | THE HIVE | BUILDING A LEGACY | WHEN IT’S TIME TO SELL A BUSINESS SPRING 2022

JUNIOR ACHIEVEMENT

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GOING UNDERGROUND | THE HIVE | BUILDING A LEGACY | WHEN IT’S TIME TO SELL A BUSINESS

Photo by LINDA HAMLIN

JUNIOR ACHIEVEMENT

hall of fame

JA Wichita Business Hall of Fame

Where Businesses Create Buzz

Going Underground

Building a Legacy

When It’s Time to Sell Your Business

CONTENTS

Meet this year’s Junior Achievement Wichita Business Hall of Fame Laureates.

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For more than 100 years, Foulston has helped create “rules of the road” for Kansas.

Todd Bailey of Transworld Business Advisors gives tips on how to maximize your ROI.

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ABOUT US

The Wichita Business Magazine is a quarterly publication that shines a light on the entrepreneurs and business professionals in Wichita. Our focus is on growth, innovation, leadership, and the heart of the entrepreneur that inspires others to follow their dreams while sharing the truths of the journey—the highs and the lows.

GROWTH

There are multiple crossroads, hills, valleys and mountains that any business takes. From start up to that first employee to the push from small to medium to going public. Ownership and the team building the business are constantly working to grow, and constantly redefining themselves along Innovation comes in many forms: the way. We look to new products and services, showcase those growth new ways of distribution, new moments and the marketing tactics… the list goes people behind the climb. on and on with the creativity of the people behind the businesses in Wichita. Oftentimes, we think of innovation as this giant Too often we look for leadership triumph of success, but businesses outside of our own community. How of all sizes must constantly is it possible that someone three innovate to meet the demands hours away is suddenly smarter than of the marketplace. We love to our local experts right next door? showcase how Wichita businesses They are not! The Wichita Business and the larger Wichita community Magazine strives to showcase the are being innovative, striving for talent in Wichita, the people of the greatness and constantly thinking business community and the experts in new and creative ways. in their field. No more going out of town for expertise that is right down the street.

INNOVATION

LEADERSHIP

INSPIRE

It’s the heart of the entrepreneur that is at the core of our team at the Wichita Business Magazine. Each of us are business owners coming together to create a publication that shares the stories of those who had an idea, took the risk, shared their dreams with others, and gave it all they could with the possibility that they would lose everything they have. That is what drives us to excellence. It is our hope that the stories we share bring pride to those showcased and help inspire the next great entrepreneurial story. WB

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CONTRIBUTORS PUBLISHER Tara Dimick EDITOR-IN-CHIEF Lisa Loewen CREATIVE DIRECTOR & DESIGNER Janet Faust MANAGING PARTNER & SALES DIRECTOR Braden Dimick braden@wichitabusinessmagazine.com 316-706-0178 MARKETING DIRECTOR Ally Oakes COVER PHOTOGRAPHER Linda Hamlin CONTRIBUTING WRITERS Samantha Egan Lisa Loewen Eric Smith CONTRIBUTING PHOTOGRAPHERS Linda Hamlin Aaron Patton CONTRIBUTING EXPERT Todd Bailey

2022 Wichita Business Magazine is published by E2 Communications, Inc. Reproduction or use of this publication in any manner without written permission of the publisher is prohibited. Every effort was made to ensure accuracy of the information in this publication as of press time. The publisher assumes no responsibility of any part for the content of any advertisement in this publication, including any errors and omissions therein. E2 Communications, Inc. makes no endorsement, representation or warranty regarding any goods or services advertised or listed in this publication. Listings and advertisements are provided by the subject company. E2 Communications, Inc. shall not be responsible or liable for any inaccuracy, omission or infringement of any third party’s right therein, or for personal injury or any other damage or injury whatsoever. By placing an order for an advertisement, the advertiser agrees to indemnify the publisher against any claims relating to the advertisement.

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JUNIOR ACHIEVEMENT OF KANSAS

Wichita Business By LISA LOEWEN Photos by LINDA HAMLIN

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WICHITA Business Magazine

Junior Achievement of Kansas recognizes esteemed business leaders in the Wichita area through the Wichita Business Hall of Fame. Laureates are individuals who have not only forged successful careers but who have also moved the Wichita community in a better, stronger direction.

CONGRATULATIONS! Wichita Business Hall Of Fame

CLASS OF 2022 HONOREES Former Mayor Carl Brewer (posthumously)

Drs. Pat & Sylvia Do

Mid-America Orthopedics and Internal Medicine

Junetta Everett

Delta Dental of Kansas (retired)

Ben Hutton Hutton

Jim Lee

Lee Aerospace

THANK YOU TO OUR GENEROUS SPONSORS This year’s group of laureates differs from those in past years. The average age of the group is below 65. Four of the six are still actively working in their respective businesses; one just recently retired but is still active in community efforts to increase diversity and inclusion; and the sixth laureate, Carl Brewer, would likely still be active in the political landscape if not for losing a battle with kidney disease. While the laureates hail from different types of business, they all have noticeable similarities. Each one has catapulted his or her business into the next level of success. Each one has played an instrumental role in creating a legacy that will continue far into the future. And each one downplays that success by attributing it to “surrounding themselves with good people.” But no matter how many good people you can bring in to help you, success is still something that must be earned through hard work. This year’s group of laureates understand that. They also understand that true success is found when you reach back to help those coming up behind you.

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WICHITA Business Magazine

WICHITA BUSINESS HALL OF FAME

Carl

BREWER

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TAKING RESPONSIBILITY Carl Brewer spent his entire life living by College Football Hall of Fame Coach Lou Holtz’s three rules: Do the right thing; do the best you can; and always show people you care. Raised by a single mother and the oldest of six children, Carl took on the mantle of responsibility at a young age. He worked throughout high school and helped care for his younger siblings. A star athlete in high school, Carl had dreams of a football career, but responsibility came calling with the birth of his first daughter. He joined the Kansas Army National Guard in 1977, where he served for the next two decades. He married Cathy Brewer in 1980, and the couple settled down to raise their four children. Cathy says even from a young age, Carl always strived to grow both personally and professionally because he didn’t let the obstacles life threw at him get in his way. “Carl wanted to work his way up through the ranks of the National Guard,” Cathy said. “He knew that meant he had to roll up his sleeves and do the hard work.”

DUTY CALLS His hard work paid off. In less than six years he had advanced to the rank of E-7 Infantry Platoon Sergeant. Still striving to take on more responsibility, Carl attended Officer Candidate School and was commissioned a year later as a Second Lieutenant. He commanded the Infantry Company, the 2-635th Armored Tank Company, and was a special assistant to retired Gen. James Reiger. He retired as a Captain in 1999. “Carl’s military service truly shaped him into the man he would become,” Cathy said. “It also created a broader sense of duty not only to his country but also his community.” After an F5 tornado swept through Andover in 1991, wreaking havoc on the town and leaving a path of death and destruction, Carl’s unit responded to the call for help. Seeing the impact that he could make in a community during that experience opened Carl’s eyes to a broader understanding of civic duty. While building a career serving in the National Guard, Carl simultaneously worked in the aviation industry for 30

years. He began his career as a sheet metal worker at Cessna Aircraft Company, but after a series of layoffs, Boeing quickly snatched him up. For the next 20 years, his work ethic took him from manufacturing engineer to operations manager at Boeing and then Spirit AeroSystems. After taking a leave of absence to serve as an elected official, he returned to Spirit as a senior manager of communications and government relations before he retired to pursue the governor’s race. CIVIC RESPONSIBILITY Most people find fulfillment in one successful career, let alone two. But for Carl, that success didn’t satisfy his sense of responsibility. If anything, it deepened it. He began serving on the board of his local neighborhood association and then on the district advisory board. As he became more involved in community organizations, Carl realized he needed to do more than make suggestions—he needed to facilitate change. Some friends encouraged Carl to run for City Council, where he served from 2001 to

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TAKING RESPONSIBILITY

Carl Brewer enjoyed over 20 years of BBQ cookoffs and perfected his own barbecue sauce which he distributed through Brewer’s Specialties LLC.

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2007. That service once again compelled him to strive for more. In 2007, Carl became Wichita’s 100th mayor and the first elected Black mayor. He served two terms in office from 2007 to 2015. “I can’t imagine Carl ever thought he would end up as mayor one day,” Cathy said. “He just wanted to make a difference and make our community better.” During his term, Carl was instrumental in the development of the new Eisenhower airport and downtown redevelopment. He spurred collaboration that resulted in the renovation of the Broadview Hotel, construction of Fairfield Inn and Suites, and the Cargill Innovation Center. His efforts also resulted in the “Block One” redevelopment project on Douglas anchored by the Kansas Leadership Center and the Ambassador Hotel, as well as the St. Francis Corridor project to provide public parking for Old Town and Intrust Bank Arena. Carl also served as the President of the Kansas League of Municipalities and was appointed by President Obama to represent Kansas on the Immigration Task Force. After losing the Democratic nomination for Kansas Governor to Laura Kelly in 2018, Carl went on to serve on Gov. Kelly’s

transition team and was appointed to the Governor’s Council on Tax Reform. A LEGACY OF INTEGRITY An ardent supporter of youth, Carl served on numerous boards and volunteered with youth organizations, once appearing as Santa Claus for Boys and Girls Clubs. He was also a Mason and a Shriner for several years. After DNA testing traced his ancestry to Ghana, he visited there in 2011 and again in 2014. “It was a very enlightening for him to experience Africa and its people,” Cathy said. “He said it felt like he had come home.” Carl was always recognized for his hard work, but Cathy says he mostly wanted people to remember him for his integrity and his ability to build consensus. And also, for his BBQ sauce. Carl, along with his wife and friends spent more than 20 years competing in BBQ cookoffs, winning many awards. He also developed and marketed his own sauce (one without bell peppers because he abhorred them). He started Brewer’s Specialties LLC in 2013 to share that pursuit of perfection with others and sold his sauce at local businesses. Carl Brewer died in Wichita on June 12, 2020, at the age of 63 after losing his battle with kidney disease.

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WICHITA BUSINESS HALL OF FAME

Ben

HUTTON

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Photo by LINDA HAMLIN

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BUILDING A LEGACY Lifelong Wichitan Ben Hutton grew up in the construction business, swinging a hammer from the time he was big enough to lift it and working on job sites from the age of 12, so it wasn’t a huge surprise when he made the decision to follow in his father’s footsteps while only a sophomore in high school. It was also no surprise that he, like his father had before him, chose to receive his construction management degree from Kansas State University. Wanting to gain some experience outside of the family business, Ben went to work for a construction company in Colorado Springs for three years before returning to Hutton Construction in 2006. “My wife and I had a great time exploring Colorado during that time,” Ben said. “But with a baby on the way, we wanted to move back home.” LAYING THE FOUNDATION When Ben joined Hutton Construction as a project manager, the company was large enough that he wasn’t reporting directly to his father.

This gave him the opportunity to work under several managers and earn credibility with those leaders. It also let him learn the intricacies of all aspects of the business from the job site to the corporate office. “Dad was a great mentor when I needed help,” Ben said. “But he was really great about letting me find my own way and make my own mistakes. Some of the most valuable lessons I learned came from those mistakes.” Taking those lessons to heart, he assumed the leadership role of the business in 2010 and found himself the primary “Hutton” at Hutton Construction when his father was elected to the State Legislature in 2012. Even though he was adept at running the day-to-day operations of the business, Ben wanted to become more involved in the big picture strategy of growing teams and developing a vision for the future. That meant another change in title: CEO. “I basically fired myself as president,” Ben said. “I promoted someone else to

run the operations side of the business so I could focus my energy on the future.” CONSTRUCTING AN IDENTITY Ben’s focus turned to building a solid brand identity for Hutton, which included dropping “Construction” from the name a few years back. While the company’s purpose and values had always been consistent, they needed words and images to better convey them to the public. Knowing that companies must adapt to changing environments and technology, Ben also searched for innovative ways for Hutton to expand and capitalize on opportunities for growth. Under Ben’s leadership, the number of employees has more than tripled through both expansion and acquisition. In addition to expanding geographically, Hutton added architectural services, real estate advising, strategic planning services and facility services to its product offering. Ben says his biggest challenge was discovering and then admitting that

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BUILDING A LEGACY

Posing from the speaker’s balcony at the U.S. Capitol in Washington D.C. is the Hutton family: Wesley, Shepherd, Ben, Bethany and Erin.

there are just some things he really isn’t great at doing. Once he embraced that concept and handed those things off to someone better equipped for the job, business got a whole lot more efficient. “I should be the least important person in the business,” Ben said. “If I do my job right, I need to stay out of the way and let myself be a little bored once in a while.” Although, he admits that there is nothing boring about helping clients be more successful through buildings and structures that serve as a multiplier for their impact. FRAMING THE FUTURE Even though Ben is only 41, he has been part of the construction business for 28 years and has seen a lot of

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change in that amount of time. One thing that hasn’t changed, however, is his understanding that Hutton succeeds when its employees succeed. “This company has always been a great place to work because we attract great talent and then take care of them,” Ben said. That means developing ongoing training to help team members grow and be successful. It also means understanding that people work to support their dreams, and those dreams are rarely work related. “When we give people the resources and the ability to reach for their dreams outside of work, it opens the floodgates to attract the most talented in our industry,” Ben said.

Part of reaching for their dreams means finding ways to make the community a better place to work and raise their families. That is one of the reasons Ben loves Wichita—it is small enough that he can have a true impact both in the business arena and the broader community. “If I am passionate about something, I can always count on the business leaders in Wichita to take the time to listen to my ideas and give them thoughtful consideration,” Ben said. The other reason he loves this city is the exciting rebirth of Wichita’s entrepreneurial spirit. “Wichita was known for great entrepreneurs,” Ben said. “But that was decades ago. Now, finally, a new generation of entrepreneurs and business owners are once again gaining momentum and investing in making Wichita the best place to live in Kansas.” Through his involvement with the Chamber and the Greater Wichita Partnership, Ben sees his role as that of a bridge between the senior business generation of yesterday and the junior generation of those bringing in new ideas. “We need everyone at the table in order to move forward,” Ben said. “I try to be the connector to make sure everyone has a seat.”

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THANK YOU FOR CHOOSING TO BUILD A BETTER WICHITA.

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Pat & Sylvia

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a lifetime of learning Pat and Sylvia Do both have a deep appreciation for the opportunities that come with higher education—especially in the United States, in part because neither one of them are from here originally. Pat was born in Vietnam and moved to the states when he was 5 years old during the fall of Saigon. He, along with thousands of Southeast Asian refugees, arrived at Camp Pendleton in 1975 ready to start again in a new country. It wasn’t an easy childhood for Pat with his family often living in poverty and struggling to make ends meet, but they pushed him to excel in school so he could find a better future. He graduated from high school as the valedictorian and went on to attend the University of Missouri Kansas City for both his undergraduate degrees (dual major in biology and chemistry) and for medical school. From there, he moved to Dallas to complete a surgical internship. Sylvia grew up in Mexico but moved to California after high school to attend San Diego State University School of Nursing with the hopes of continuing to medical school. She moved to Dallas to work as a nurse, and that is where their lives intersected. When Pat traveled back to Kansas City to complete his orthopedic residency, Sylvia went with him and entered medical

school at the University of Kansas. The goal had been for them to move back to California to be closer to Pat’s family and open a small orthopedics practice there. LEARNING TO ADAPT But things don’t always work out according to plan. Sylvia still had three years of medical school left, and trying to switch schools didn’t make much sense. “We found out that KU Med would let you complete your last two years in Wichita, so when Pat was looking at a location to practice orthopedics temporarily for two years, the hospital in El Dorado just happened to be looking for an orthopedic surgeon,” Sylvia said. Pat was intrigued by the opportunity to practice in a smaller community where he wouldn’t be commuting an hour each way in heavy traffic. Kansas City was getting more congested at the time, and if he joined the practice where he completed his residency, Pat would have to enter as a junior partner. “My goal was always to open my own practice in California,” Pat said. “I felt like joining another group for only three years would be doing them, and myself, a disservice.” El Dorado, Kansas, it was. Rather than going to work for Susan B. Allen Memorial Hospital, however, Pat convinced them to let

him start his own small practice, Mid-America Orthopedics, in 2000. LEARNING THROUGH EXPERIENCE Sylvia helped with the practice as much as she could, but she was already juggling medical school studies as well as caring for a baby (she had two daughters while in medical school and a son while in residency). After three years, when Sylvia was in the process of applying for residency, they discovered, much to their surprise, that their California dream had faded. Wichita was now, and would always be, home. “My practice had already become really busy,” Pat said, “and we felt like Wichita was the perfect place to grow both the practice and our family. The people here are so genuine and friendly. They embraced us, and we chose to embrace them back.” Once they decided to stay in Wichita, Pat threw his entrepreneurial spirit into his orthopedics practice. He opened a second office at 1923 N. Webb Road, in the Wilson Estates Medical Park. Four years later, he opened an office at 119th Street West and Kellogg. Today, with additional offices in Derby, Leawood and Dodge City, and more than 135 employees, Mid-America Orthopedics is one of the largest multispecialty

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A LIFETIME OF LEARNING

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balance and offers some advice for young people just starting to forge their own path. “Don’t live in the ‘gap’ where you feel like you have to be doing the next thing or striving for more to be happy. Be happy in the moment. Enjoy the present and don’t wait for happiness to find you down the road,” Pat said. “Some of our happiest times were when we were living on a shoestring budget while we were both in school in Kansas City.” He also stresses the importance of self-care, at every age. “Stay focused on what gives you the most purpose in life. Try not to sacrifice your mental and physical health,” Pat said. “It’s okay, even at a really young age, to have balance. Get your sleep, exercise, and take care of your spirit.”

Pat & Sylvia Do with their children Peter, Alexa and Isabella in San Miguel de Allende, Mexico.

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orthopedic practices in the Midwest. “We are following in the footsteps of so many great leaders in our community that have taught us how to live life better, have more freedom and serve those around us,” Pat said. After receiving her medical degree, Sylvia joined the faculty at the KU School of Medicine, teaching medical students and residents in the inpatient setting. She now practices in private practice as a hospitalist at Via Christi St. Francis.

LEARNING BALANCE Creating two incredibly successful medical careers is a proud accomplishment for Pat and Sylvia, but they both agree that if they had it to do all over again, they would have taken a little more time to appreciate the journey. “We were so focused on building our future,” Sylvia said. “Sometimes you find yourself working so hard, you forget to stop and enjoy the little things.” Pat agrees that it took a while to find that life/work

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SUPPORTING LEARNING Because Sylvia and Pat both credit their education as the key to their success, they have focused their giving on mentoring, funding and helping develop tomorrow’s leaders. Sylvia has served on the Wichita Community Foundation Board, the Wichita Children’s Home Board of Directors and the Kansas Hispanic Education and Development Foundation which grants scholarships to Hispanic students to help pay for ancillary expenses such as food and books. “Most of our awardees tend to be first time college attendees,” Sylvia said. “It is so rewarding to help these students build a better future.”

Pat is active with the Wichita Chamber of Commerce, the Young President’s Organization, Butler Community College Foundation and Newman University Board of Trustees. The couple has funded scholarships at the University of Missouri Kansas City, Butler Community College, the Kansas Hispanic Education and Development Foundation and more. They also support various organizations including Rainbows United, Wichita Children’s Home and The Lord’s Diner. “Education is the real underlying factor that can truly change a person’s trajectory,” Sylvia said. “Without our education, we wouldn’t be where we are today. Especially for us, coming from other countries, education opened doors to opportunities that might otherwise never have been possible.” PERPETUAL LEARNING Entrepreneurs at heart, Pat and Sylvia’s business interests extend beyond medicine. They have a variety of commercial real estate interests, are part owners of The Wave, an outdoor musical venue, and are Scooter’s Coffee franchisee owners. Of all their accomplishments, Pat and Sylvia are most proud of their three children, who all seem to have inherited a love of learning and the willingness to work for their dreams. Their oldest daughter, Isabella, is studying computer science and biological engineering at MIT; Alexa is a freshman at Baylor University studying Neurosciences; and Peter is a freshman in high school. Pat says that while he is proud of their academic accomplishments, of course, it is their willingness to put in the work that he admires the most. “This dad is very proud of his kids,” Pat said. “At age 14, they started waking up early on weekends to open the coffee shop. Even now, when they are off on winter break, they still get up early to help out.” Pat and Sylvia encourage their children to fly the coop and see the world, but ultimately hope they will come back home to roost. “After all, this is home.”

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WICHITA BUSINESS HALL OF FAME

Junetta

Everett

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Photo by LINDA HAMLIN

A Lifetime of Firsts Junetta Everett has experienced a lot of firsts in her life. Sometimes those firsts meant pushing herself beyond what she thought possible. Sometimes they meant breaking through gender and racial barriers. But each new first meant increasing opportunity and inclusion for future generations. But with every first in Junetta’s life, she was certain of one thing: her blazing the trail would make it easier for those following in her footsteps. The third child born to teenage parents who divorced when she was age 2, Junetta is grateful that her mother had the courage to ask her grandparents for help in raising her. “While my mother was always there for us,” Junetta said, “I believe her unselfishness is my ultimate blessing. “ Growing up under her grandparents’ roof gave her not only a stable home environment but, with a Baptist preacher for a grandfather, she also learned to put her trust in God, no matter the situation. Junetta was in the fourth grade when the family moved from Texas to Wichita. It was the first time she had ever had a white teacher in school. It was

also the first time she had ever received a letter grade below a B. Rather than being intimidated, she found inspiration. “By sixth grade, I had two incredible teachers in elementary school that really cared about me and helped to build my self confidence,” Junetta said. “For the first time, I really felt like I could do anything I wanted in life.” Understanding that if she wanted to be successful, she would have to work hard, Junetta started a house cleaning business when she was in the sixth grade. She had two clients and earned $20 a week and started learning how to save money. At the age of 14, she went to work at Mr. Magic Carwash and later got a job with Pizza Hut while in high school and college. “I always had a job throughout school,” Junetta said. “It taught me the value of money and that I am responsible for my own outcomes.” BLAZING A TRAIL After graduating from high school, Junetta originally planned to go to nursing school but wanted to be able to keep her weekends free for church

and family. Dental hygiene sounded like the perfect career alternative for this firstgeneration college student. Until she faced the challenges that again came with being a first. As the first African American dental hygiene student at Wichita State University, she ran up against a few obstacles that might have caused someone with a little less faith to give up. “Most of the time things were great,” Junetta said. “The other hygiene students really embraced me. There were just a few bad apples outside of class who would make racist and demeaning comments and one clinical instructor who actually told me, ‘You might want to change careers because there will be people who will not want your black hands in their mouth.’ I just discussed it with my mother, gave those troubles to God and trusted He would walk beside me on my journey.” Her faith paid off. Before she even graduated from dental hygiene school, Junetta already had three job offers from local African American dentists. “I never had to look for a job because I was the first and only Black hygienist in

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A LIFETIME OF firsts

Junetta Everett interviews a keynote speaker, during a Chamber Chair luncheon addressing diversity.

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the state of Kansas when I graduated,” Junetta said. CRACKING THE CEILING After spending nine years as a dental hygienist, Junetta went to work at Delta Dental of Kansas as a customer service representative. Her work ethic and attention to detail soon elevated her to the position of professional relations representative, which put her right back into the dental office serving as liaison between Kansas dentists and Delta Dental. “It was a lot of work in the beginning,” Junetta said. “I was the only person handling professional relations at the time, so I basically handled everything. Eventually, the department expanded to nine people, so that made it more manageable.” A short eight years later, she became the vice president of professional

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relations, a position she recently retired from after 33 years. In her role at Delta Dental, Everett was responsible for statewide and national relationships, recruitment, credentialing and overall support of the dental network. “I could never have foreseen all of the opportunities that I was given at Delta Dental,” Junetta said. “The leaders there believed in me and supported me.” That support was especially important in those times when sexism or racism would rear their ugly head. “There were a few times that when I walked into an office to handle compliance issues, they would refuse to work with me because I was Black and a woman,” Junetta said. “But the Delta Dental CEO stepped right in and backed me up every time.” Those encounters became increasingly rare over the years, and Junetta found herself able to focus on her first love: building relationships and serving her community. “Delta Dental was my career path, but my career purpose was intentional inclusion,” Junetta said. She began serving on the board of the Wichita Regional Chamber of Commerce where she was the first Vice Chair of Diversity and Inclusion. In 2020, Junetta once again earned the title of first: first person of color and only the sixth woman to chair the board of a 100-year-old organization. “When I took the position, we changed the title from “chairman” of the board to that of “board chair” to get rid of that archaic gender-biased title and make it more inclusive,” Junetta said. Because of her passion and purpose, she serves on multiple boards including the Kansas Health Foundation, Wesley Hospital, Equity Bank, WSU Foundation and National

Advisory Council and was recently appointed by the Governor to the Wichita State University Board of Trustees. CULTIVATING OPPORTUNITY After retiring from Delta Dental in 2021, Junetta began to work for the Chamber as its interim diversity and inclusion director and is now working with business leaders in Wichita who hope to diversify their boards, committees and workforce. The initiative, known as “The Gathering,” amplifies connections and

cultivates opportunities for people to network and connect with people of color. “Employers want and need to retain employees of color but find it difficult because they often don’t understand the underlying dynamics and issues they care about.” Junetta said. “The Gathering uses an intentional approach to inclusion to bring people from different perspectives together to start the conversation, while at the same time building a database of diverse people that will be available for all types of boards and committees.

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“When I think about Rosa Parks or Martin Luther King, I see them working to bring people together, not separate us,” Junetta said. “My intent has been to get on that elevator, pull up to the table (create a seat if I must), add my voice to the conversation at that table, and then turn around to see who I can bring up the elevator with me to make that table even bigger. Whether you start at kindergarten, sixth grade or high school, the key is to get started. Jump into action and learn the value of finances and community service.”

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WICHITA BUSINESS HALL OF FAME

Jim

Lee

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Photo by LINDA HAMLIN

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flying high Jim Lee’s love for aviation didn’t just happen overnight—it was literally generations in the making. “My grandfather was in the aviation business. My father was in aviation. I grew up around aviation. So, when a recruiter came to visit my high school and talked about careers in aviation, I didn’t even consider doing anything else,” Jim said. After WWII, Jim’s grandfather, Claude Mann, moved to Wichita and founded several aviation businesses over the course of his entrepreneurial career, from supply companies to aviation repair shops. Jim’s father, Bennie Lee, joined his father-inlaw’s business after a successful career coaching at Derby High School and University of Kansas, eventually venturing out on his own to open Lee Products, an aviation electronics distribution business. PREPARING FOR TAKEOFF After graduating from the Spartan College of Aeronautics in Tulsa, Jim went to work for Cessna doing warranty administration. He took the insights he gained from that experience back to Lee Products,

where he worked with his father for the next few years. During that time, Jim’s father and brother opened Lee Air. Jim’s brother, Benny Lee Jr., still owns Lee Air and continues to successfully manufacture electrical and mechanical products for the aviation industry to this day. “I spent a lot of time learning about the industry and looking at ways we could meet customer demand,” Jim said. “I also learned to look at things through the eyes of an entrepreneur.” TAKING FLIGHT Viewing the manufacturing business through those entrepreneurial eyes, Jim recognized an opportunity to capitalize on a niche market need: aircraft windows for Boeing 737/757 aircrafts. He let his own entrepreneurial spirit take flight opening Lee Aerospace in 1987, delivering the first windows to Boeing in March 1988. “We started out small, but I knew from the start that the sky was the limit with where the business could go,” Jim said. That prediction proved to be correct. The company grew from 10 employees in that first year to 30 in the second year. By year

four, their numbers surpassed 50 and now hover around 200. GAINING ALTITUDE Growth brought new opportunities to expand into window manufacturing for other OEMs as well as adding complementary aviation products and services. In addition to manufacturing windows, Lee Aerospace offers window installation and repair, including a 24-hour mobile support team that brings those services directly to where the airplane is located, anywhere in the world. Wanting to stay on the leading edge of innovation, the company expanded to include aerostructures. They design, manufacture, and assemble metallic and composite assemblies ranging in size from small detail parts to entire fuselage assemblies. Today their customer base has grown to include almost all of the major OEMs in the world, including Boeing, Bombardier/ Learjet, Textron (Cessna, Beechcraft), Cirrus, Gulfstream, HondaJet and other aircraft manufacturers. After taking his company public in 2000, Jim bought the company back in 2014 and went private again.

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flying high “Going public gave us the opportunity for significant growth,” Jim said, “but it also limited our ability to pursue other opportunities outside of aviation.” While aviation will always be the core focus of Lee Aerospace, some of the other opportunities that they have ventured into include numerous outside investments nationwide. These investments encompass an SaaS (Software-as-a-Service) software platform specializing in artificial intelligence and machine learning, a financial technology company that processes merchant transactions across the globe, and numerous

others. Their newest investment is FanJolt, an app that connects fans to their favorite celebrities in new and innovative ways to benefit charities and non-profits. “Diversification in business is essential for growth and financial stability” Jim said. MAINTAINING A FLIGHT PLAN Jim credits his success to not being the smartest person in the room. Instead, he surrounds himself with good people who put their expertise to work every day. Understanding that companies are made up of people, Jim strives to provide a fantastic workplace for the employees.

Jim Lee helps his granddaughter Paloma exit the Cessna 441 aircraft that he has owned for 22 years. PHOTO SUBMITTED

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“You are only as good as the people you surround yourself with,” Jim said. “People have choices of where they work, especially in this industry. You need to treat them with respect to retain them and empower them with the ability to make the right decisions for the business to fuel future growth.” That team approach lets Jim keep his eyes on the horizon and do what he loves most—work with people to “win deals and stay profitable.” He also gives credit to his hometown: Wichita. “I travel all over the world, and it is awesome to experience new places,” Jim said. “But it is so nice to come back home to Wichita. It is the biggest, small city I have ever been to. The people are friendly, traffic isn’t crazy, it just has a wholesome feel to it, and the work ethic of the people you hire here is second to none.” FINAL APPROACH Jim isn’t looking too far into the future right now. He plans to concentrate on growing the business, continuing to look for innovative ways to diversify the business and finding avenues to give back to his community. “I have been blessed and want to share that success with non-profits that support underserved groups, particularly the youth,” Jim said. While he has no plans to retire any time soon, when that day does finally arrive, you will likely still find Jim flying high in the sky on his plane. Or somewhere on a boat. Or on a tractor on his ranch. Or spending time with family and friends. Or maybe just playing with his granddaughter, Paloma. WB

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1998 George & Virginia Ablah C.J. Chandler Martin K. Eby, Sr. Anderson E. & Abner Jackson Robert D. Love 1997 Lionel D. Alford Frank L. Carney Sheldon Coleman, Sr. Dr. Othello Curry, Jr. Jack P. DeBoer William L. Graham Frank E. Hedrick F.D. (Fran) Jabara Abner B. Jackson, Sr. Charles & Fred Koch Charles McAfee J. Earl Schaeffer Hollis T. & Virginia Sims Dwayne L. Wallace 1990 Gordon & Gordon W. Evans Hugh & Olive White Garvey Albert A. Hyde Arthur W. Kincade, Sr. William H. Mathewson 1986 Walter & Olive Ann Beech Clyde Cessna Jesse Chisholm William Coleman James Davidson William Greiffenstein Marshall Murdock WB

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WHERE BUSINESSES CREATE

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More than a co-working space, The Hive helps Wichita businesswomen be(e) their best By SAMANTHA EGAN Photos by AARON PATTON

Yellow walls, tufted couches, sequin storage bins. Enter The Hive and you might think you have walked into a trendy friend’s apartment. But when you notice the video-conference equipment, classroom-style set up upstairs and audio/video recording studio, you’ll see you’re in a place for getting things done. Located inside the historic Orpheum Theatre, The Hive is a co-working space and networking community for local women in business. More than a place to work in a pretty environment, The Hive attracts members, affectionately called “bees,” who crave connection as much as career growth. With a robust calendar of events and opportunities to meet other likeminded entrepreneurs, The Hive is the place for women who thrive when surrounded by other women.

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A recording studio is one of the elements that The Hive offers in its co-working space.

Andrea Hattan founded The Hive out of her own desires as a full-time freelancer. After pivoting from a career teaching language arts and creative writing, Hattan broke into the digital marketing industry, which soon led to a full-time freelance writing career. While she was no longer tied to an office, Hattan’s history with depression prompted her to seek an environment where she could be around other professionals. “I knew it wasn’t going to be good for me to work from home by myself and be isolated,” Hattan said. Hattan joined a Wichita coworking space but found it lacking. Sitting in a corporate-style room, she craved a space that offered more than basic functionality and lukewarm connections.

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“The thing I noticed in the world of entrepreneurship was there were a lot of networking groups, but it was very business-card pushy,” Hattan said. “I didn’t feel like people wanted to get to know the real me. They just wanting to sell me something. I wanted to build authentic relationships.” At the time, Hattan found the inspiration she was looking for in her monthly “Lean In” group, a community of women connected to Sheryl Sandberg’s book of the same name. “It was a super empowering group of women who were pushing me in both my career and personal life and lifting me up,” Hattan said. “I just thought, ‘I want this energy in my life every day.’” When Hattan pitched the idea of a co-working and networking space

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for Wichita businesswomen, the group supported her immediately. That night, Hattan hatched the idea for The Hive. CREATING BUZZ One month after testing the waters with a Facebook group, Hattan had 100 followers who were clamoring for The Hive to become a reality. “We had the spirit of The Hive before there was even a membership,” she said. To keep the buzz alive, Hattan got busy searching for the perfect space. She passed on spaces that seemed too “office-y,” seeking something light and bright. When she toured a vacant space for lease in the Orpheum, she was greeted by burnt orange and “baby puke” colored walls. Immediately she knew it was the one. Brimming

Nooks and crannies in the space at the Orpheum instantly gave Founder Andrea Hattan the “hive” vibe. Photo by AARON PATTON

with character, its nooks and crannies resembled a sort of hive within itself. “I walked in and immediately saw The Hive,” she said. “It just really fit us.” Next, Hattan got to work making it functional. She thought of the things she needed for her freelance business and put it into the space: a recording studio for creating lessons, conference rooms to meet with clients, places to have video conference meetings. She also made room for self care, welcoming professionals to offer services like waxing, sound baths, spray tans and more. “I didn’t want to leave work to get a massage or do yoga,” she said. “So, I created space that would be inviting for people in those industries.” After three months of renovating, painting and decorating, The Hive

opened in April 2018, just five months after Hattan first shared her idea. MAKING HONEY So, why bees? Hattan’s connection to the busy insect is a well-crafted metaphor with all of the markings of a former English teacher. “Bees work together, they collaborate,” said Hattan. “They intuitively know what one another needs, and they work toward a greater whole.” Women who join The Hive are given permission to be their authentic selves but should also be open to coaching from their peers. “We want people to have failures and talk about them, but there is a professional element that pushes them to build their business,” said Hattan.

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“We want people to be vulnerable, and we want them to share their full selves. But we’re also going to be like, ‘Okay, now it’s time to stand up and get after it.’” Because of the amount of vulnerability members share, Hattan is protective against “wasps,” or those who bring negativity into the group. “Bees don’t do well if there are pesticides or any kind of negativity coming into their hive,” said Hattan. “I wanted The Hive to be a safe space that was pesticide-free, so to speak, where everybody wanted collaboration over competition.” Hattan also acknowledges that being a “wasp” doesn’t mean being the enemy. Rather, she explained, it’s simply a different approach that could work against the type of community The Hive is trying to foster. In the occasional case where a member doesn’t quite jive with The Hive, she often seeks to leave on her own. “If people have a scarcity mindset, or they’re coming into it just trying to sell, it doesn’t work out and that’s a good thing,” Hattan said. “We have a specific approach that fulfills a need for a certain group of people.” SOMETHING FOR EVERYONE Of course, if someone wanted to simply use The Hive as a co-working space (men included), that’s fine, too. Hattan said many companies, including government agencies and universities, pay for their remote employees to work in The Hive. Hattan said the companies recognize that the membership not only allows employees to enjoy a distraction-free environment, it also helps them feel less isolated. “There are so many employers that will pay for this type of benefit,” said Hattan. “I’d love for more women to realize that and advocate for themselves.”

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The Hive’s tiered membership model allows members to join the community, use the co-working space or do both. They can also pay $10 a month to simply be included on The Hive’s professional directory, wichitawomeninbusiness.com. Of the 170 members, 100 take part in the community. With a rich calendar of events, community members get lots of buzz for their buck. While the events foster relationship-building, they also put an emphasis on ROI. Their HiveMinds event, for instance, puts one “queen bee” in the spotlight to share three business challenges with a group of peers. The “bees” then share their insights, creating an exchange of ideas that all attendees benefit from hearing.

Careful thought went into the functionality of The Hive’s workspace to ensure members have the right resources to succeed in business while connecting with others.

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A TIME FOR CONNECTION While Hattan’s days of leading a classroom are behind her, she said her teaching background has been a key factor in helping her create environments where women can share openly. “Teachers, especially writing teachers, have to make everybody feel safe and comfortable and vulnerable so they share what’s on their heart,” Hattan said. “I feel like I was able to use that skillset to build a safe container and a welcoming environment.” Hattan’s goal for The Hive is to keep growing. While Hattan said she didn’t lose a single member during the first two months of the pandemic, by the fall, she saw numbers start to decline when moms suddenly

found themselves managing remote learning. “Women took the brunt of the extra responsibilities during the pandemic,” Hattan said. “We had a lot of members who kept their membership because it helps them separate home and work life. But when it just kept going and school went remote again in October, that’s when we had a big drop off.” If there’s one thing the pandemic has shed a light on, it’s the value of human connection. And that happens to be The Hive’s sweet spot. “Women have told me that the energy in The Hive is just good because of the encouragement and positivity that has infused energy into the space itself,” said Hattan. “It just feels good to be in there.” WB

“Bees work together, they collaborate. They intuitively know what one another needs, and they work toward a greater whole.” —Andrea Hattan Founder The Hive

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Lee Spence | President, UV&S

Going Underground By ERIC SMITH Photos by AARON PATTON

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Imagine a well-lit, wide-open warehouse-type setting, 650 feet into the Earth. The temperature is always 68 degrees with 40 percent humidity. And the size of this area is about 46 acres. In other words, more than 2 million square feet or about 35 football fields.

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So much room for activities! Or, in this case, lots and lots of vital secure storage. This place exists about 50 minutes northwest of Wichita in the salt mines of Hutchinson. UV&S, formerly known as Underground Vault and Storage, is a privately-owned company with 137 employees that stores some of the most prized possessions in the world and has been doing it for 60-plus years. Started in 1959 by several prominent Wichita businessmen— Jack Heathman, Mark Adams, Bill Murfin, Robert Williams, John Schul, Bud Beren and J.T. Koelling—UV&S began as an underground storage company and has expanded today to have operations including shredding and recycling, technology, and event services in several states and the United Kingdom.

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In what was originally a Carey Salt mine near Hutchinson, UV&S stores ancient artifacts, collectibles, documents and more in a natural climate-controlled environment.

COLD WAR ROOTS The company came to fruition during the Cold War when times were tense and many people were looking for a secure storage location, said Lee Spence, who’s been president of UV&S for about 25 years and an employee at the business for 43 years. The founders were all from different industries and put their heads together to come up with the concept, Spence said. One of the men had a friend with the Carey Salt Company, who owned the mines in Hutchinson at the time (now Hutchinson Salt Company). “They had a few meetings and decided to move forward on the opportunity to store items underground in some of the minedout salt mines that aren’t used anymore,” Spence said. As UV&S points out on its website, some of the world’s most safeguarded ancient artifacts have survived the test of time simply by being stored underground. “From the Egyptian pharaohs to the caretakers of sacred religious texts to modern dictators hoarding stolen artifacts during World War II, people have preserved their most valuable assets by storing them underground.” The two groups worked up a unique lease that gave UV&S exclusive rights to store items in the Hutchinson salt mines. The lease is for 99 years with an option to extend another 99 years. “We’ve been there 62 years, so we still have a lot more time on that original lease,” Spence said. “When you look at expansion space underground, there’s over 980 acres that’s available for storage. It’s a big, big area.” COOL STUFF The business started storing items for small companies and soon began working with large companies in Wichita, like the aircraft industry and the manufacturing

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Dan Reisig, vice president of information technology at UV&S, oversees the data center division.

UV&S MILESTONES OVER THE PAST DECADE • 2014: Document resources acquisition that led to four new Kansas facilities. • 2016: Concergent IT acquisition with a secure data center located in Wichita. • 2018: DH Media Solutions acquisitions with three facilities in the U.K. • 2019: Corner Post Holdings acquisition, bringing on cloud services. • 2019: Media Servicing acquisition, bringing on five storage facilities in the U.K. • 2021: LandShark Shredding acquisition with one facility in Kentucky. • 2021: Los Angeles storage facility opens.

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industry. Today, legal, accounting and insurance companies, as well as government agencies—federal and from all 50 states—use UV&S to store things of value. “We had a connection with the movie film companies through a film librarian who worked for one of the movie companies,” Spence said. “That’s how we kind of penetrated our business into the Hollywood film industry.” Today, most of the major motion picture studios on both U.S. coasts store millions of movies with UV&S, going back as early as the 1920s with black and white silent films. “We pretty much have every film that’s ever been shot,” said Spence, estimating there are close to 9 million boxes of items in the underground storage underground. “We’re a very private company. The coolest stuff we have, I can’t even talk about because it’s confidential,” said Dan Reisig, vice president of information technology. “You never know what UV&S is storing anywhere in the world. Literally, we still have supplies from the Cold War in barrels

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down in the mines. It’s crazy some of the stuff we store.” In addition to the most common things like films, documents, X-rays and books, Reisig hinted at collections of baseball cards, comic books and coins, saying, “You find someplace that you can store long term for a reasonable amount of money, Lord knows what you’re going to end up with.” EXPANSIVE STORAGE Spence said about 50 people work underground in Hutchinson every day, traveling the extensive facilities via three-wheeled bikes and electric golf carts. “Once you’re down there, it’s pretty wide open. It’s not like it’s a cave or anything. We paint the ceilings, walls and floors,” he said. UV&S has three underground locations: the salt mine in Hutchinson and two smaller limestone mines in Kansas City, Missouri (opened in 1986) and Louisville, Kentucky (opened in 2003). UV&S also has several above-ground warehouses for storage, including locations in Topeka

UV&S utilizes big shredders and mobile trucks to service customers that need secure shredding.

(opened in 1985), Wichita (opened in 1987), and Oklahoma City (opened in 2001). “Since Wichita is such a strong client base of ours, we set up a facility there to accommodate our customers locally,” Spence said of the location at 707 E. 33rd St. N. “So, if they had something they’d need really, really fast, we’d get it to them.” Over the past decade, UV&S has made several big splashes by buying companies, including information technology company Concergent IT in 2016. “One of our newest ventures is our UV&S Technology company,” Spence said of the company previously called Concergent IT and whose office is in downtown Wichita in the Farm Credit Bank Building, 245 N. Waco. “We actually provide a data center. And with that facility, we provide business solutions, managed services, professional services and cloud storage as well.” BUSINESS EVOLUTION UV&S continues to be in the acquisition mode, said Reisig, who

formerly headed up Concergent from its founding in 2001 until it was bought by UV&S. “I think it was just nice to help grow UV&S as a company and not just my division,” Reisig said. “It’s allowed me to spread my wings and help be a part of a team that runs a larger company.” As far as technology goes, there have been some changes at UV&S over the years. “When I first started in 1979, we didn’t have any computers,” Spence said. “Everything was done manually. Our first computer was a PC running Lotus.” Spence said much of the information that UV&S stores is on their server and barcoded, so UV&S can retrieve it in a timely manner and send it to the customer when requested. “A lot of docs now are scanned into our system, and then we just send them copies of scanned docs,” Spence said. “That way, the original never leaves the facility.” For the shredding services, Spence said UV&S has big shredding and

mobile trucks that go out and service customers that need secure shredding. As for its recent move into California, “We set the one up in LA because that’s where a prominent number of our studios are at,” Spence said. “There are some requirements that the studios have to have those films in a two-to-three-hour delivery time.” UV&S also has its hand in the event services industry with a company in London. “Let’s say you needed to promote a new movie at a film festival, and you wanted someone to put up big posters, stages, giant red carpets, big-screen TVs and the whole nine yards,” Reisig said. “We have a company that does it.” In addition to diversification of going into other industries helping to grow the company, Spence pointed to one other area that has been hugely beneficial. “We provide really good customer service. Anybody can store anything, but you need to be able to retrieve the documents and retrieve the information for the customer. So that plays a big part of our business, the customer service part.” As far as other storage expansion, UV&S is always looking the to future. “There are several other salt mines in the U.S.,” Spence said. “They may not be as safe or as dry as the one we’re in, but we’re always looking for new opportunities to seek facilities underground or above ground.” WB

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BUILDING A LEGACY MORE THAN 100 YEARS IN THE MAKING By ERIC SMITH Photos by AARON PATTON

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The year is 1919. Woodrow Wilson is president. World War I has just ended. Prohibition and women’s right to vote are on the forefront. And in Wichita, Robert Foulston and George Siefkin joined up to form what is now the largest Kansas-based law firm, Foulston Siefkin LLP. Today, the widely respected regional firm has nearly 90 lawyers—about 55 of whom are partners—serving local, national and international clients with offices in Wichita, Topeka and Overland Park. The full-service firm offers legal services in nearly all areas of law except for family law and criminal law. But like many storied institutions, things started small for the law firm well over 100 years ago. As the firm tells it, Foulston was up on a ladder one day learning carpentry when he thought, “There has to be a better way to make a living than this.” He climbed down off the ladder, told his family he was doing something different with his life, and began taking classes at the University of Kansas.

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After graduating law school, a Wichita businessman offered Foulston a small law office but no clients. A short time after that, Foulston began serving as city attorney for the City of Wichita. Foulston’s first big case came when the Wichita Water Company sued the City of Wichita for more than $2 million. A New York City firm defeated the city and the young attorney at trial, but on appeal, with his new partnership with Siefkin, the up-and-coming duo had the verdict overturned. History shows this to be an important win for the young firm. “They established the culture of the firm early on, which was, we work together as a unit,” said Tammy Allen, the firm’s chief marketing officer. “We don’t compete against each other. We work together to benefit our clients. That’s something that carries through today.” “When you go back to when this first started in 1919, there were no zoning laws in Wichita at that time,” said Jim Oliver, a partner who has been with the firm for 46 years. “Foulston and Siefkin handled some of the first zoning cases on what you could do to keep a hog lot out of your backyard, and how you develop a modern city. We represented the city for many years back in those days. And we still continue to do a lot of work for government.” Both attorneys had a hand in the formation of major local companies. Siefkin co-founded and incorporated Stearman Aircraft Company until it was acquired by Boeing in 1934. At that time, Siefkin became general counsel for Boeing’s Wichita division, which later became Spirit AeroSystems. As for Foulston, he knew W. C. Coleman through Bible study class and helped found the Coleman Company, which was initially known

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A tribute to Robert Foulston and George Siefkin, the founding partners, along with others who followed, can be found in the Foulston lobby.

for its lanterns, and today has become a well-known international outdoor recreation product manufacturer. Foulston and Siefkin’s strengths included the ability to attract and train talented lawyers. From the start, the firm was known for having attorneys serve in the community and on charitable boards to give their time, talents and resources. “When I started, I was amazed at the reverence with which everyone talked about Robert C. Foulston and George Siefkin,” Oliver said. Oliver told of how Foulston always wore his suit coat in the office. “He thought it was too informal to take it off and hang it up behind the door,” Oliver said. “Can’t be casual in the office. This was formal; this was serious business. He was such a great lawyer and such a wise man.” Oliver described George Siefkin as a hugely talented lawyer with exceptional legal writing and argument

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skills, fact-finding, logic, and business skills. By 1928, the firm had five lawyers, including a man who would do very big things at the firm, George Powers. Powers later recalled the firm agreed to hire him only if he would shave his mustache. Powers created and directed the first Wichita Bar Show in 1936 and would continue as director and motivating force well into the 1970s. “George Powers was a remarkable guy,” Oliver said. “He always wanted to be a showman. Plus, he was a magnificent lawyer.” Powers had a favorite quote: “For the strength of the pack is the wolf, and the strength of the wolf is the pack.” He believed it captured the firm’s culture— one of many factors responsible for the firm’s success. The firm eventually adopted a wolf statue as the gift given to honor partners on their 30th anniversary with the firm.

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Foulston’s presiding executive committee (L to R): Kevin Arnel, Bill Wood, Tony Rupp (on screen), Brooke Bennett Aziere and Jason Lacey. The growing firm moved to the Fourth National Bank Building at Market Street and Douglas Avenue in downtown Wichita in 1929, remaining there for the next 45 years. While few attorneys joined the firm during the Great Depression, another significant addition came in 1935 with John Eberhardt. Powers and Eberhardt eventually teamed up to be “a pretty unbeatable team,” Oliver said. Both Eberhardt and attorney Carl Smith were later drafted for military service in World War II, and the firm whittled down to four lawyers at one point, Oliver said. To cope with the difficult times, they brought in prominent lawyers Samuel Bartlett, known widely as the author of Kansas’ probate code, and Andrew Schoeppel, who had been Kansas governor and went on to serve as a U.S. Senator. The firm withstood the obstacles of the war and Great Depression, but heart attacks took the lives of Foulston

(age 58) and Siefkin (age 59) within seven years of each other in 1947 and 1954, respectively. The losses had many in the community calling into question whether the loss of leadership and reputation would be the end of the firm. “For many firms, that would’ve shut it down,” said Tammy Allen. “That was a real turning point in the firm. It could’ve gone the other way. (The founders) were very young and had many years of leadership left. So that was a real shock.” NEW LEADERS EMERGE The firm needed strong leadership to survive, and it found it in partners Powers, Eberhardt and another attorney with a familiar name who had recently joined the firm: Robert (Bob) C. Foulston II, son of the founder. The young Foulston had fought in Army combat in the Pacific in World War II and had earned a high rank

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during his time in the service. While some urged him to stay in the military, he entered the University of Kansas School of Law after the war with hopes of practicing law with his father. However, Foulston Sr. died just months before he graduated, and the younger Foulston joined the firm a short time later set to carry on his father’s legacy. “When I was a young lawyer, I thought Bob Foulston was the greatest man I’d ever had a chance to be around,” Oliver said of the second generation of the law firm’s namesake. It was still a relatively small firm through the mid-50s. The firm hired Robert Siefkin, the son of George Siefkin, as well as a future managing partner, Jerry Sawatzky. And then, in 1959, the firm recruited Don Cordes and Bob Howard, from KU School of Law. “They became the best lawyers of their generation for miles around,” Oliver said, adding Cordes went

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EXPANSION/INNOVATION SINCE 1990 1991 The Topeka office opened.

1995 A Dodge City law firm merger established a branch for a time in western Kansas.

on to become general counsel of Koch Industries, and Howard was outside counsel for Koch Industries, representing them through all their family litigation. Another influential lawyer in the firm’s history was Judge James K. Logan, a graduate of Harvard Law School who was dean of KU Law School by the time he was 31. He was a federal judge on the 10th U.S. Circuit Court of Appeals for more than 20 years. While he didn’t join Foulston until 2001, his impact was felt much earlier. “One of the things (Logan) took credit for was telling George Powers that all you need to do if you want to be a great law firm is hire the best graduates of the local law schools,” Oliver said. The practice of law changed continually in the 60s, 70s and 80s with lots of legislative enactments. People had to figure out new laws, Oliver said, referencing new legislation like the Truth in Lending Act, civil rights laws and employment laws. People had to become employment lawyers and tax lawyers and teach themselves to do securities law and represent public companies. “We had people who became self-taught, top-level experts,” Oliver said. “And we’re able to pass it on to subsequent generations of lawyers.” In 1975, the thriving law firm moved into a new office to become the anchor tenant of the new Fourth Financial Center in downtown Wichita. The firm began to handle more and more larger transactions—like the sale of Cessna to General Dynamics—as mergers and acquisitions became common. By 1980, the firm had 36 lawyers, four of whom were female. In the next two decades, Foulston litigators worked on several notable cases that the 10th

SPRING 2022

2001-02 The Overland Park office opened.

2001-2009 Four Wichita lawyers relocated to, and six more lawyers joined the Kansas City area office.

U.S. Circuit Court of Appeals described as “the most complex litigation in the court’s history.” One involved representing Koch Industries to defeat an attempted takeover of the company by minority shareholders. The team also assisted in absolving Koch Industries and its management of fraud allegations related to purchases of company stock, ending litigation that lasted two decades. Another case saw energy producers given more than $350 million and future rights worth billions as compensation for natural gas byproducts such as helium. Firm attorney Jim Goering’s software played a crucial part in figuring out the allocation of helium production in the case. FURTHER EXPANSION AND INNOVATION Foulston is known for creating what some call the “rules of the road” for Kansas. “We’ve tried to do various things over the years contributing to the development of the law in the state,” said Jason Lacey, Foulston managing partner since June 2021, who is based in Wichita and has been with the firm for 20-plus years. “Whether that means helping to draft legislation or handling significant litigation that established legal principles. We’ve done that as part of our public service or as part of our interest in seeing the law develop in helpful and important ways.” One example of this was with limited liability companies, which is a business structure that generally protects its owners from personal responsibility for its debts or liabilities. In 1990, Foulston’s Stan Andeel participated in the drafting and promotion of legislation for a professional LLC statute. Kansas

WICHITA Business Magazine

2005 The Wichita firm moved to its current location in the Commerce Bank Center.

was one of the first states to adopt the measure, and the firm’s health care practice expanded as a result, as it formed numerous LLCs for health care clients. Since 1990, Foulston has seen much expansion and innovation: • In 1991, attorney Jim Rankin, joined later by Jim Oliver, Tom Theis and Dick Hay, opened the Topeka office, thanks to client demand in the community and at the Kansas Capitol, as well as for state administrative and regulatory agencies. • In 1995, a merger with a law firm in Dodge City established a branch for a time in western Kansas. • In 2001-02, Doug Reagan opened the Overland Park office and was joined there by Jim Oliver, Jim Logan, Bill Trenkle and John Peck (splitting time as a KU law professor). • In 2005, the firm moved away from its longtime downtown Wichita home to the new Commerce Bank Center in the Waterfront development in Wichita at 1551 Waterfront, Suite 100, where it still resides. • In the 2000s, further growth called for four Wichita lawyers to relocate to the Kansas City area office, while six more joined the firm, including partner-in-charge Tony Rupp. “It was getting to the point where the Wichita market was small enough where you couldn’t grow much more,” Oliver said of the expansion to Topeka and the Kansas City area. “We needed the opportunity to have more clients, so you didn’t have conflict. You can’t represent everybody in town.” During the 2000s, the firm expanded and deepened its work in many emerging areas of practice, including trade secret litigation, intellectual property, cybersecurity, and

2010 The firm negotiated a groundbreaking 10-year union contract for Spirit AeroSystems and most of its unions.

2014 The firm was involved in the $500 million sale of Kansas City company Cereal Food Processors to the third-largest flour milling company in the country.

wind energy. The firm built one of the only full-service health law teams in Kansas, advising on regulatory, licensing, compensation, litigation, mergers and acquisitions, general business and tax matters for health care organizations. In 2010, the firm’s Doug Stanley negotiated a groundbreaking 10-year union contract for Spirit AeroSystems and most of its unions. In 2014, firm partners Stan Andeel and Andy Nolan were involved in the $500 million sale of Kansas City company Cereal Food Processors to the third-largest flour milling company in the country. Some of the firm’s other clients who permitted Foulston to make it publicly known include INTRUST Bank; Freddy’s Frozen Custard & Steakburgers;

ValueHealth, NueHealth, and Nueterra Capital (affiliated group of companies); Slawson; Dondlinger Construction; Friends University; IMA Financial Group; Wichita State University; and TCS Education System (Kansas Health Science Center, the new osteopathic college, is an affiliate of TCS). Today, the firm is on strong footing and well-positioned, Lacey said. The strategic question the firm often asks itself is whether they get bigger to compete with massive firms or if they should focus on legal work that allows the firm to be nimbler and more flexible. Competition for talent has grown both for legal talent and nonlegal staff, Lacey said, and Foulston is always

TODAY The firm is on strong footing and wellpositioned in an evolving landscape of business and law. trying to look ahead and anticipate what the firm needs so it doesn’t get caught flat-footed. “Twenty years ago, if you wanted to live in Kansas and work as a lawyer, you worked for a law firm in Kansas,” Lacey said. “But now, if you want to live in Kansas, you may be able to work for a law firm in New York or Florida or L.A. or Chicago because remote work has changed the traditional workplace.” Regardless of the evolving landscape in business and law, Lacey is optimistic about the future of the firm. “Taking an organization-first approach has been key to why we’ve gotten to be where we are today and hopefully why we’ll be here another 100 years,” he said. WB

Proven. 25 lawyers ranked by Chambers and Partners. 61 lawyers named by Best Lawyers . 24 lawyers recognized in Benchmark Litigation. 103 years of commitment to legal excellence ®

and service to our clients.

Jason P. Lacey, Managing Partner, 316.267.637 1

FOULSTON.COM SPRING 2022

WICHITA Business Magazine

SELLING YOUR BUSINESS

WHEN IT’S TIME TO SELL, MAXIMIZE YOUR ROI. PREPARE FOR THE SALE

PHOTO SUBMITTED

If you are selling your home, do you just throw a sign in the yard and wait for the doorbell to ring? Of course not! You make minor repairs you have been ignoring for years and maybe even some major repairs or remodels that you hope will be offset by a larger selling price. Similarly, selling a business can only be maximized by a focused process of preparation in order to get the best possible price. Below is a list of reports and information that will be required.

Todd Bailey President Transworld Business Advisors There are a LOT of reasons you might want to sell your business. Perhaps you are ready to retire and reward yourself for years of hard work. Maybe you don’t want to retire but want to start or buy an entirely different company. Or maybe you and your business are in terrific shape, and you want to get out on a high note. Whatever the reason you might want to sell your business, several factors allow you to maximize the return on the sale.

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WICHITA Business Magazine

FINANCIAL DOCUMENTATION Most business owners have tax returns readily available, but many do not have monthly income statements and balance sheets. If you are thinking of selling your business, it is a great idea to start producing these on a monthly basis. These are the FIRST documents examined by potential buyers and lenders. They will want to look at the prior three full year tax returns as well as the current year-to-date records. BUSINESS OPERATIONS Customer lists (customer names kept confidential) allow buyers to identify top customers by sales volume. Vendor information including purchase volumes and any contracts help buyers understand these relationships. Employee records including hire date, pay rate, title, job duties, and any special certifications help buyers understand the workforce. Any ongoing or upcoming contractual agreements to be assumed by buyers (Franchise agreement, distribution rights, employment contracts, equipment leases, security or phone system, etc.) provide buyers with further understanding of the internal operations of the business. MARKETING MATERIALS Buyers need to understand how you market your business and attract customers. This includes price lists, menus, company brochures, websites/social network sites, franchise documents/ contracts, and any advertising/promotion plans. FACILITY INFORMATION Whether the facility is owned or leased by the business owner, there is certain information that is required. This includes a copy of the lease/deed/title, list of furniture/fixture/equipment—commonly known as FF&E, and any recent appraisals done on the building or property.

SELLING PROCESS

Once everything is prepared for the sale of the business, it is time to put it on the market, find buyers, and close the deal. Every business and every deal is different, but certain steps and considerations remain consistent in the selling process. CONFIDENTIALITY! This is capitalized with an exclamation point for a very good reason—it really is that important. The sale must not be known to vendors/suppliers as they may change shipment/payment terms or inform your competitors that your business is for sale. The sale must also not be known to employees as they may seek employment elsewhere. And buyers absolutely MUST be required to execute a Non-Disclosure Agreement (NDA) prior to sharing any information with them. CONFIDENTIAL BUSINESS SUMMARY This is also called Confidential Information Memorandum (CIM), Offering Document, or other terms. Regardless of the name, this comprehensive document includes all of the information gathered while preparing for the sale. This document will be shared with buyers AFTER they have executed a NDA.

As you can see, selling your business is a tremendous undertaking. A lot of work must go into preparing for the sale as well as the actual selling process. Any shortcuts in these processes will certainly result in lower price, damage to business operations, or not selling the business at all. It is highly recommended that you include your full team of advisors in the process including attorney and CPA. In addition, many successful business sellers have found that the service of a business broker is of tremendous value as the broker’s job is to perform many of these functions and manage the interaction between seller, buyer, attorneys, CPAs, lenders, and others. WB

ADVERTISE & MARKET CONFIDENTIALLY! Many websites connect business buyers and sellers. Social media sites can be useful in advertising businesses for sale. Trade groups or associations will often assist in notifying their member networks of acquisition opportunities. For many types of businesses, it also can be effective to identify potential buyers including competitors, vendors, or customers and making direct contact with them. Just remember, advertising and marketing the business should be done in a BLIND manner. For example, an industrial distributor called Todd Bailey Distribution should be advertised as “Industrial Distribution Company for Sale” and not “Todd Bailey Distribution for Sale”. This allows the NDA to be put in place prior to any other confidential information being shared. DUE DILIGENCE The process of buyers requesting information and sellers providing that information – within reason – is called due diligence. This is an additional opportunity for a buyer to probe further into the business, and for the seller to assure the buyer that the business is a great investment. NEGOTIATION There are endless forms of deal structures ranging from all cash to complicated combinations of cash, bank financing, seller financing, continued partial ownership, board seats, etc.

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WICHITA Business Magazine

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Experience Wichita

WICHITA Business Magazine

MASTER OF BUSINESS ADMINISTRATION

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WICHITA Business Magazine

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WICHITA Business Magazine