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WO-032511059
Cedar Falls
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APRIL 2011
www.cvbusinessmonthly.com
CEDAR VALLEY BUSINESS MONTHLY
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THE COURIER
Volume 5 ● No. 5
BUSINESS MONTHLY COLUMNS Page 3
Jim Offner Strictly Business benefits many
Page 14
University of Northern Iowa How to chose an MBA program
Page 15
Investment options Tax savings could provide new opportunities
Page 26
Wartburg College Wartburg part of ‘brain drain’ solution
COURIER FILE PHOTO
Sam McCord, center, and Dean Reck, right, talk with Lori Knapp, far left, and Brenda Truelsen about the BioComposites’ products on display at the annual Stribly Business Expo last year at Park Place Event Centre in Cedar Falls. Strictly Business is moving to the Isle Casino Hotel Waterloo this year.
BUSINESS MONTHLY STAFF DIRECTORY EDITORIAL CONTENT Nancy Raffensperger Newhoff nancy.newhoff@wcfcourier.com (319) 291-1445
ADVERTISING Jackie Nowparvar jackie.nowparvar@wcfcourier.com (319) 291-1527
Jim Offner jim.offner@wcfcourier.com (319) 291-1598
Sheila Kerns sheila.kerns@wcfcourier.com (319) 291-1448
Cedar Valley Business Monthly is published monthly. It is a free publication direct-mailed to more than 6,500 area businesses. For distribution, call Courier Communications at (319) 291-1527 Contact Cedar Valley Business Monthly at P.O. Box 540, Waterloo, IA 50704.
A good bet Strictly Business moves to Isle Casino Hotel By JIM OFFNER
BUSINESS MONTHLY ON THE COVER
jim.offner@wcfcourier.com COURTESY PHOTO
Strictly Business planners are ready for this year’s show.
WATERLOO — Organizers of the annual Strictly Business Expo are moving the event to the Isle Casino Hotel Waterloo, but they don’t see the change as a gamble; if anything, they say, it’s a sure thing. “We’re really excited about it because it’s a new venue,” said Stefanie Moudry, corporate relations liaison with Covenant Medical Center, which once again is serving as co-chair of the expo. “We’re hoping to
kind of re-energize people who maybe haven’t been here for a couple of years. There’s obviously more to do out here. They can stop and see what we all have.” This year’s Strictly Business is scheduled for 4 to 7 p.m. April 5 in and around the ballroom on the second level of the casino complex, next to Otis & Henry’s Bar and Grill. “We have several new companies that have booths this year that haven’t had them before, so we’re very excited about that,” Moudry said.
About 60 local companies are expected to have booths and/ or exhibits at the event, which had been held at the Park Place Event Centre in Cedar Falls the previous three years. It will be the 18th year for Strictly Business, which originally was held over two days and two nights in the Five Sullivan Brothers Convention Center in downtown Waterloo. Strictly business is a program about local businesses for local businesses, Moudry said.
See EXPO, page 4
PAGE 4
EXPO From page 3
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CEDAR VALLEY BUSINESS MONTHLY
year, I walked into Park Place and everybody was texting. I thought we’d come full circle.” The thought of moving to the casino had occurred to organizers for several years, and this year the opportunity presented itself, Moudry said. “One thing we noticed when we went from the convention center to Park Place is that every couple of years it’s nice to get a change of pace to get people to start coming again,” she said. “People would say, ‘Oh, it’s the same.’ So, the Isle was very excited and offered to have us host it here. One great thing is now we have free valet parking, so we’re excited about that.” Grant Gubbrud, senior finance director for the Isle, said the casino and hotel are equally excited to host the event. “Bette and I talked and thought it would be a nice change of pace to move it here,” said Gubbrud, the expo’s other co-chair. “I think it’s going to be a great event. It’s always a fun event to see all the businesses in the Cedar Valley and all the things they have to offer. And obviously, there are some other entertainment options here, so I think it’s going to work out well for everybody.”
Strictly Business is a natural lure to local businesses, Gubbrud said. “The businesses themselves is the attraction,” he said. “You get to see the different businesses that are out in the Cedar
cvbusinessmonthly.com
Valley. They’re all out in one place and you can see a lot that’s offered in the area. I think it’s a great networking opportunity for everybody involved. Most people are so busy in their own business, they don’t really
APRIL 2011 get to see what’s out there and really get to talk with and know other people who are involved in other businesses. So, it’s a great opportunity to do that and showcase what you have available.”
WO-032511008
“It’s one of the great networking events,” she said. “It’s mainly for businesspeople to kind of share and see how they can connect their businesses, how they can help each other out, how one can do something for the other and see what’s out there, where they might not normally be able to do that.” As an example, if one local company needs printing materials, they can contact directly a local printing business and establish regular contract, Moudry said. The event has evolved, said Bette Wubbena, director of membership retention with the Greater Cedar Valley Chamber of Commerce. “Because of time, people don’t need to go to shows anymore; they go to the websites,” she said. Strictly Business allows for personal business-to-business contact, she said. “This is more a networking event,” she said. “When it first started, everybody lined up at Five Sullivan Brothers to talk on the pay phone. Last
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APRIL 2011
CEDAR VALLEY BUSINESS MONTHLY
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Past tax ďŹ ling mistakes can haunt business owners NEW YORK (AP) — Some of the biggest problems small business owners have during income tax ďŹ ling season are the result of mistakes and oversights they made during the previous year. Sloppy record-keeping is a big reason why owners struggle at tax time. Another problem is that owners often short-change themselves by not being sure they’re taking all the deductions they’re entitled to. That also can be the result of haphazard records, but it also may come from not knowing some tax law basics.
Keep track of spending A common problem for business owners who use vehicles or homes for both business and personal reasons is they forget to keep track of what they spend for each. For example, Jeffrey Berdahl, a certiďŹ ed public accountant with RLB Accountants in Allentown, Pa., said, an owner who gasses up his car may forget to reimburse himself for the portion of the purchase that should go toward personal use. The reverse can happen:
An owner doesn’t think to take a tax deduction for the portion that should go toward the business. Owners who use their cars partly for the business, or who have a home office, should go over all the expenses from the previous year and be sure they don’t miss any chances for deductions. With a vehicle, insurance, gas, repairs and garage rental can all be deductible. An owner needs to determine the percentage that the vehicle was used for business and then multiply that by the expenses. It’s also possible to use the IRS’ mileage allowance to ďŹ gure a deduction. With a house or apartment, there are similar rules for computing a deduction. In this case, square footage is used. Repairs, mortgage interest or rent, insurance, utilities and maintenance costs all can be deducted. For more information, an owner should look at IRS Publication 587, Business Use of Your Home, or Publication 463, Travel, Entertainment, Gift and Car Expenses. You can ďŹ nd them on the IRS website, www.irs.gov.
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Lance Kruger Phone: 319-233-6103 Email: lancek@sinnottagency.com WO-032511056
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This may be the era of Facebook, Twitter and — let’s face it — less than personal contact, so it seems all the more important that we get an event like Strictly Business. The annual expo, which brings anywhere between 50 and 60 local businesses together in Jim Offner a trade-show foris the Courier business editor. mat, gives local e n t re p re n e u rs Contact him at a chance to get jim.offner@ wcfcourier.com. a little face time with other local businesspeople. That serves several purposes, none of which is more important than another. It gives one business an opportunity to do a little local business with a friend, colleague or even, perhaps, a rival from across the street or across town. These folks can trade secrets, share thoughts on important issues that may be bearing down on all of them, or even take away a little sustenance, and the knowledge that there are others who are enduring the same obstacles that they face themselves every day. It’s also a chance to make a sale or establish a partnership that benefits both sides. In any event, Strictly Business is an event that benefits the Cedar Valley business community as a whole. It’s intriguing and perhaps fitting that the event moves to the Isle Casino Hotel Waterloo this year. The Isle is a relative newcomer to the local business landscape, but it plays a key role and stands as a solid monument to the new directions into which
the region has been pointing in recent years. This area is longestablished as a manufacturing and farming center. Now, it’s building a strong reputation as a technology center, a banking and insurance venue and a center for emerging small businesses. Strictly Business plays an important role in that growth. It’s an event that has evolved over its roughly two-decade history. Once a two-daylong event at the Five Sullivan Brothers Convention Center in downtown Waterloo, Strictly Business has been refined and refocused as an event created by and for local businesses of all stripes. As such, perhaps it’s not the most widely publicized or attended event, from the perspective of the general public. There won’t be thousands of people crowding the casino’s ballroom out of idle curiosity; attendees will profit from participating in the event, if only for a short time, because it will be a live snapshot of the vigorous business climate the area has built in recent years. Events like Strictly Business serve as reminders of the region’s potential, as more small businesses spring up from the sweat and creativity of local residents, to become profitable enterprises down the line. There are ample exemplars of the success of this formula. Strictly Business has enjoyed strong growth, as a wider range of businesses have participated and the event has sharpened its focus. That evolution will become abundantly clear to anyone who spends a couple of hours at this year’s event.
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Strictly Business sharpens focus, to benefit of all
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APRIL 2011
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CEDAR VALLEY BUSINESS MONTHLY
Using software correctly can prevent headaches The Associated Press
Many owners use software that’s designed to help small businesses keep their books easily. They run into problems when they don’t input their income and expense ďŹ gures properly. Jeffrey Berdahl, a certiďŹ ed public accountant with RLB Accountants in Allentown, Pa., said some clients haven’t taken the time to really learn how to use a recordkeeping program. “They hand us a disk or thumb drive, and they’ve handed us a mess.â€?
Todd Wille / 1985 graduate President and CEO, Unify Corp. Provider of application modernization solutions American Business Association’s 2008 Turnaround Executive of the Year On his first day as the head of Unify, Todd Wille was greeted by 19 lawyers and investigators from the Department of Justice, FBI, and SEC as well as 39 class-action lawsuits after its previous CEO committed securities fraud.
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During the next six months, Wille saved the company. Its stock price would increase by 432 percent and revenue would grow by 76 percent in one year. It has been in acquisition mode ever since.
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WO-032511039
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Wartburg College We make leaders
It’s the high-tech equivalent of what accountants ruefully call shoebox or shopping bag clients, ones who show up with a chaotic pile of receipts that a CPA has to then sort through. When an accountant gets a disorganized disk or drive, it has to be straightened out before a return can be completed. Berdahl says some owners then repeat the problem the next year. The solution is to become more of an expert at using the software, or pay someone who’s more technosavvy to input your numbers.
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CEDAR VALLEY BUSINESS MONTHLY
St. Ambrose's Waterloo MBA program marking 10th year are invited to attend an informational meeting from 4:305:30 p.m. April 14 at Blackhawk Hall at Hawkeye Community College, Waterloo. The public is invited to learn more about the St. Ambrose MBA through a webinar from 12:30 to 1 p.m. June 21. For more information or to register, contact Tammy Reichelt at (563) 333-6354 or email ReicheltTammyS@sau. edu, or go to www.sau.edu/mba and click on the “More Info” box.
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DAVENPORT — St. Ambrose University, based in Davenport, is marking 10 years of offering an MBA degree program in Waterloo, serving individuals and local employers such as John Deere Waterloo Works, Allen Hospital, Hawkeye Community College and the University of Northern Iowa. The degree program is geared for working professionals, with classes scheduled one night a week in eight-week sessions. Individuals interested in finding out more about the fall session
The Cedar Valley Society for Human Resource Management is proud to be involved in enhancing the professionalism of area Human Resource Managers. By continuing to encourage membership, professional development, and certification, we will remain on the cutting edge of the Human Resources profession. Visit us at cvshrm.org
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APRIL 2011
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APRIL 2011
CEDAR VALLEY BUSINESS MONTHLY
Scam artists often target older adults By CANDY DIERCKS
Sadly, criminals often prey on senior citizens. And a number of scams in the marketplace are evidence that they will try varied a p p ro a c h e s, often with success. I have worked with numerous individuals that have been targeted Candy Diercks by a variety of is franchise owner scams. Some of Home Instead have incurred Senior Care in costly misforWaterloo. Contact tunes and some her at 235-5999, hisc662.digbro.com have been able or candy.diercks@ to recognize homeinstead.com. something is not right, alerting their children or the proper authorities who were able to help. The following are three scams that are often aimed at older adults and what you can do about them. If you get a postcard or letter promising an appealing vacation free of charge, you may be the potential target of a mail scam. These scams usually want you to call to claim a vacation, but there’s often a hitch. They may want you to pay a service charge or a membership in a travel club. If you are one of the few people who actually receive a vacation, you most likely will be booked into substandard accommodations. If a suspicious offer like this arrives in the mail, contact your postmaster or the nearest postal inspector. If a work crew shows up at your
front door saying that they’re working in the neighborhood and notice your house needs repair, be suspicious. They may pressure you with a “now or neverâ€? offer and want a large down payment before any work is done. Homerepair rip-offs are among the most costly senior scams. Always get a second opinion if you suspect your home is in need of repair. If you think the offer is a scam, get the name of the company and the individuals involved, write down license numbers and call your local police. Be suspicious if you receive a prize notiďŹ cation or other promotion asking you to call a 900 number. It could be a 900 telephone number scam, because there is always a charge for a 900-number call. Never call such a number unless you are sure of the charge. If you’ve never heard of the company, contact your local Better Business Bureau or consumer protection agency. Sadly, seniors and their families must guard against cons like this and many others. Families can support and help educate their seniors in several ways. Watch out for unusual activity and help seniors with their ďŹ nances if they need it. Make sure they destroy information that could be compromised, such as credit card offers. And because scammers target seniors who are alone or appear lonely, just knowing that a senior has someone to look out for him or her can be a deterrent.
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I am advancing my career with an MBA.
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t .#"!VOJ FEV t XXX DCB VOJ FEV NCB Find all your latest news in
IamUNI.net WO-032511046
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CEDAR VALLEY BUSINESS MONTHLY
cvbusinessmonthly.com
APRIL 2011
National Volunteer Week scheduled April 17-23 By KELLY WARREN
Volunteers ensure that essential services, the programs offering them, and the communities that benefit from them, continue to grow and to thrive. National Volunteer Week started in 1974 when President Richard Nixon signed an executive order establishing the week as an annual celebration of volunteerism. National Volunteer Week, April 17-23, is a time set aside to honor those people who contribute their time, energy and talent to the causes they hold important. It also is meant to increase awareness of the critical role that volunteers play in our community. The American Cancer Society is a community-based voluntary health organization, and we rely on the support from local volunteers across the Cedar Valley to spread our mission and help in the fight against cancer. We stress the importance of National Volunteer Week, not only to thank our volunteers, but also to encourage more people to enrich their lives by volunteering. The American Cancer Society recognizes and celebrates the efforts of its more than 3 million volunteers nationwide, and more than 8,000 volunteers in Iowa, who are making a difference for people facing cancer. Right here in Black Hawk County, there are several volunteers dedicating their time to fight against cancer through events such as the Relay For Life, Pink Ribbon Golf Classic, Daffodil Days or one of our many outreach programs the American Cancer Society provides to cancer patients. Every year, Black Hawk County volunteers help raise more than $300,000 for the American Cancer Society in addition to providing a support network for cancer survivors and caregivers. Finding the time to volunteer can be challenging, and it’s easy to simply say “I do not have the time.” Our lives are stressful enough as it is, right? The pace of life these days seems to be faster than ever with items piling up on that always-growing to-do list. Well, here is a thought to those who simply do not have the time
– slow down and evaluate the things that seem to clutter your day and make your life busy. Don’t feel guilty when life becomes too demanding to do something you feel is worthy of your time. Volunteering is an opportunity to add even more value in your life, which in turn is rewarding beyond the time it may take out of your day. I began volunteering to help others, but the person I helped the most was me. There is nothing more satisfying than giving some of my time and talents to others and knowing that I am making a positive difference in lives of others, especially cancer patients. It’s not just connecting with a job; it’s connecting with a purpose. The American Cancer Society has a local office and offers numerous volunteer opportunities for individuals with any ability or time to give. I encourage you to volunteer with the American Cancer Society or an organization you are passionate about. Help plan this year’s Relay For Life of Black Hawk County on June 17-18 at Hawkeye Community College or the Pink Ribbon Golf Classic on July 26 at Fox Ridge Golf Course. If government relations interests you more, the American Cancer Society needs more volunteers to advocate for a world with more birthdays and less cancer. If you would like to work directly with local cancer patients through one of our outreach services, we have several opportunities for you. For more information on how you can volunteer for the local American Cancer Society call 272-2880 or visit www.cancer.org. Make this year’s National Volunteer Week count by considering what organization you can be a part of. Challenge yourself to give back to the Cedar Valley with your time and talents. Thank you, Volunteers! You truly light the way! Kelly Warren is a spokeswoman for American Cancer Society/Midwest Division, Inc. in Waterloo. Contact Warren at 272-2880, (563) 212.7251 or kelly.warren@cancer.org.
HELP US SELECT 8 SENIOR RESIDENTS WHO ARE OVER 80 YEARS OLD.
NOMINATE SOMEONE YOU FEEL MEETS THE FOLLOWING CRITERIA: Demonstrates leadership.
SUBMIT YOUR ENTRY BY MAIL, FAX OR ONLINE:
Contributes now and in the past to the betterment of the community, often behind the scenes.
MAIL: 8 over 80, P.O. Box 540, Waterloo, IA 50704 FAX: Attn: 8 over 80, (319)-234-3297 ONLINE: www.WCFCourier.com/8over80
Continues to be a success in their vocation. Has been a role model/mentor for others.
NOMINATIONS DUE: THURSDAY, APRIL 14, 2011
8 OVER 80 NOMINATION FORM
One nominee per form. Please attach a short description of why your nomination meets the criteria above. Please be sure to include your address and phone number in the event further information is required.
Nominee:
Age:
Occupation/retired from: Phone: Address: City:
State:
Zip:
State:
Zip:
Submitted by: Phone: Address: City:
Winners will be selected by a committee and featured in the July issue of Cedar Valley Business Monthly. A special reception will be held honoring the 8 selected leaders. WO-032511035 WO-032511035
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APRIL 2011
CEDAR VALLEY BUSINESS MONTHLY
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Remember certain key points in building a business The fourth annual EntreFest small business conference was held in late February in Dubuque. This two-day conference was attended by small business owners from all across the state, as well as folks just interested in kicking the ‘‘entrepreneurial tires’’ a bit. I help coordinate the conference every year, and Amy Kuhlers each time we get is manager of The MyEntre.Net program to the closing ceremony I’m at the University a bit nostalgic of Northern Iowa. Contact her at 273- about the two 4328. days of energy, n e two rk i n g , learning and fun we’ve all participated in. Amidst all of the coordinat-
ing and organizing, the best part for me has always been talking to participants about their business, their aspirations and watching their eyes light up as they talk about their enterprises. As I visited with the attendees this year, I noted that several common remarks seemed to pop up from year to year. I call these “small business-isms,” and here are just a few I think hold true for all business owners: ■ Find your passion, do what you love, and you’ll never go to “work” again. This being said, it’s important to key in on one or two areas of interest that you are good at and devote your efforts toward that end. If you work from too many angles, your business — and customers — will be confused about what your business really is. Business planning is the key here, and if you don’t have a clue
where to start, your local Small Business Development Center is a good beginning, or try MyEntre. Net (www.myentre.net) for online business resources. ■ Never having to go to work again does not mean you won’t work. You will. And you’ll work hard and long, and many times (maybe most times) without seeing a return on investment for quite a while. Most small business owners find it necessary to dip into savings, to make sacrifices and to think very creatively about financing day-to-day expenses. And when they do spend, they spend wisely, focusing resources on items that will help generate sales and increase the value of the business name. ■ The business 80/20 rule: Spend 80 percent of your time on the 20 percent that brings the most value to your business. Do you need to
work on relationships with your best customers? Has your website become static and old news? Whatever it is that you can do to cause the biggest influence on your bottom line — do it. Spend the majority of your day there. ■ Put on a happy face. If you are doing what you love, this should be easy, right? Many days it is, but on those days when the business, family needs, friends and outside sources start to wear you down you need to reassess and stay motivated. Don’t be afraid to be your own cheerleader and the best cheerleader for your business. Events like EntreFest can be just the ticket for helping you breathe new life into your business vision. If there is no small business conference on the horizon, look around locally and go where other business owners gather, not just to network for your business, but
to learn and share with other like minded individuals. ■ Get Smart. All of the business owners I’ve spoken to at the last four EntreFest conferences have said the same thing. They are attending to keep in touch with what is new, what is going on around the state with other businesses and to learn and re-learn about marketing, management, socialnetworking,humanresource issues, healthcare and any number of other business topics. The list could go on. Small business owners are amazing, innovative people and our communities are all the better for each and every one of them. As the wise comedian Milton Berle once said, “If opportunity doesn’t knock, build a door.” That’s what our small business owners do every day — build doors for opportunity. And aren’t we lucky they do?
CLARIFICATION A column in t he March Cedar Valley Business Monthly, “Home is More than a Physical Structure,” was co-authored by Gowri Betrabet Gulwadi , associate professor with the School of Applied Human Sciences and Jillissa Moorman, assistant professor of interior design at the University of Northern Iowa.
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APRIL 2011
Reading about ideas is good; application is the key I’ve long admired Warren Buffett for his ability to take complex issues and boil them down to their simple core, all the while mixing in his unique down-home humor to make the explanation both informative and entertaining. As an example, while the rest of us were still trying to figure Rick Brimeyer out what hit us early in the is president of Great RecesBrimeyer LLC, an independent sion, Buffett management was explaining consulting firm in that we were in Ames. Contact him at the initial stag(515) 450-8855. es of a severe housing bubble with basically three cures: ■ Blow up a lot of houses. ■ Speed up the formation of new households by encouraging teenagers to cohabitate (“A program not likely to suffer from a lack of volunteers,” he quipped.) ■ Dramatically reduce the number of new housing starts below demand for an extended period.
So when I recently stumbled across this Buffett gem, I both chuckled and reflected on the truthfulness of his words, “If you want to be an outlier in achievement, just sit on your ass and read most of your life.” Buffett is legendary for his volume of reading. But it his ability to transform reams of information into useful knowledge and then decisively act upon it that truly sets him apart. Likewise, the colleagues that I have found most inspiring, educational and downright fun to work with are those who can not only cite interesting passages from their readings but feel compelled to find a way to apply their newfound knowledge. This trait seems to have less to do with their formal education (in fact, advanced degrees almost appear to be a deterrent toward action) and more a function of their outlook on life as an adventure to be fully experienced. Upon finishing my bachelor’s degree in engineering 30 years ago, I wanted to get as far away from formal education as possible (4.5 years of equations will
do that). But my desire to continue learning only grew stronger, especially across a wider range of topics. Reading has become my preferred method of learning. It provides ultimate flexibility in terms of time and place. The selfdirected pace allows me time to process and, most importantly, determine how the new knowledge can be applied in the real world. So here’s a quick summary of my all-time favorite books for leaders and managers. ■ ‘‘Leading Change’’ by John P. Kotter takes the incredibly complex topic of organizational culture and identifies eight critical phases that organizations must successfully navigate if they are to realize true and lasting change. Kotter’s work is backed by exten-
sive research and his writing style is amazingly straightforward. I utilize his eight-stage template when working with any organization that is serious about changing its culture. ■ ‘‘Results That Last’’ by Quint Studer is required reading for any manager. Studer is the founder of the Studer Group, a management consulting organization that specializes in healthcare. Studer shares lessons gleaned from decades of working with numerous organizations and effectively summarizes best practice management behaviors. Almost every page contains a nugget of wisdom or recommended practice that can be applied. ■ ‘‘First Things First’’ by Stephen R. Covey is the ultimate life management book. Covey is without peer in his ability to address life
balance and prioritization issues that all workers, and especially managers, must master if they are to be truly productive and happy people. The book has been a life-changer for me, and I frequently refer back to my notes when I’m beginning to feel a little off-kilter. In today’s reality of overwhelming information it’s easy for the golden main ideas of what we read to get lost amid the noise of all the other data. A habit that has served me well for the past 20 years is to quickly summarize and document the most important points of a completed book. On a weekly basis I then review the notes from one book, perhaps one that I haven’t read for years. This reinforces those lessons and challenges me to apply them during the coming week.
ALL THAT GLITTERS IS AT PEOPLES
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CEDAR VALLEY BUSINESS MONTHLY
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APRIL 2011
Failure to seek advice can be costly Jeffrey Berdahl, a certified public accountant with RLB Accountants in Allentown, Pa., says many business owners, concerned about spending money during the recession, have shied away from consulting an accountant during the course of the year. Then, at tax time, their unanswered questions
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PAGE 13
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turn into problems. For example, if an owner didn’t ask a CPA for help in making decisions on big equipment purchases, the business could lose out on deductions designed to help small companies. The cost of a few hours with an accountant may be small in comparison to the amount the business ends up paying the government in taxes.
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APRIL 2011
How to choose the right MBA program The decision to begin an MBA program is often difficult, as the commitment required to earn the degree will result in a substantive lifestyle change. So, before making the leap into an MBA program, it’s important to understand what you can and should expect and to carefully evaluate the quality of the programs available to you. A number of factors play into the decision to seek a graduate degree. Often an MBA candidate seeks career advancement — with some employers requiring an advanced degree for proLeslie Wilson motion — and its associated is associate dean rise in income. and MBA program director with the The U.S. Bureau College of Business of Labor StaAdministration at the tistics reports University of Northern that education Iowa. Contact Wilson pays: those at 273-3309 or with graduate leslie.wilson@uni. degrees have edu. lower unemployment rates and higher salaries than those without. The Graduate Management Admissions Council’s (GMAC) 2010 Corporate Recruiters Survey reports that a new MBA graduate has twice the earning potential as someone who recently graduated with a bachelor’s degree. Career advancement and increased income are nice perks. However, decreased income and less time with family and friends are some short-term sacrifices. Joining a full-time program means an income drop associated with leaving a job. Joining a part-time program means adding study time into a busy work, family and social schedule. Historically, MBA degrees were designed to provide fundamental business knowledge and a strategic business perspective to those who did not have
traditional business education. It was designed for engineers, biologists, communication specialists, computer scientists and other specialists who had moved up the organizational ladder but found themselves without command of the business language. This made it more difficult for these specialists to move into managerial positions that required a wider perspective of the organization and touched the more traditional functional areas of the business. It’s still true today that most MBA curricula represent a “generalist” degree. The curriculum provides a broad organizational view that touches all of the functional areas of business as well as best-practice management principles. Such a curriculum builds a foundation on which graduates can develop and implement organizational-wide strategies and gain a command of management theories and practices — the language of business. Evaluating the curriculum is only part of the process for choosing a program. Another important component: the students. I’ve had students tell me they learn just as much from their MBA classmates as they do from the faculty. An MBA classroom should be filled with students from a wide variety of academic backgrounds, including those with traditional business degrees. The student body also include international students, so that different cultural perspectives can be part of the classroom discussion. And because each student brings his or her collective experiences and education into the classroom, you should expect admissions standards that create a student population you can learn from. Applicants should expect work experience to be an admission requirement. This creates a classroom of students with knowledge in a wide variety of industries across a variety of specialty areas who
have a host of questions they want answered. Consequently, all students learn about different industries, how problems may be solved within those industries, and how to apply this knowledge to their own. Beyond work experience, applicants should expect that indicators of intellectual ability are used for determining admission. Typically, admission committees determine applicants’ intellectual strengths through review of undergraduate transcripts and GPA, writing samples and graduate admission examination results such as the GRE or GMAT. Applicants should explore how firm an organization is with its admission requirements. Flexible requirements could indicate
that student quantity is a higher priority than student quality, which is not in the best interest of those who expect to learn from their classmates. Finally, it’s also useful to consider the accreditation of an institution. Not the accreditation that allows the educational institution to legally operate or qualify for federal dollars, but accreditation of the specific program of interest. AACSB International (The Association to Advance Collegiate Schools of Business) is the gold standard of accreditation for schools of business, with less than 15 percent of business programs in the world meeting its rigorous standards. AACSB accredited schools undergo review every
five years and must show results and continuous improvement in all aspects of the business school; AACSB member schools do not. Before you select a program, recognize that your personal success will not be determined by the diploma you receive, but rather by the knowledge you use to make more effective decisions. So carefully consider your options, as there are many MBA programs available, and make a well-informed decision that is worthy of your commitment and sacrifice. For more information about the AACSB-accredited MBA program at the University of Northern Iowa, visit www.cba. uni.edu/mba.
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APRIL 2011
CEDAR VALLEY BUSINESS MONTHLY
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New tax rates could create new opportunities Americans now know that income tax rates are not going up (at the federal level) this year. In fact, most people will temporarily pay less federal tax than was the case previously. The tax savings may create an opportunity Larry Fox for you to conis senior financial sider putting adviser with Ameriprise Financial more money Inc., Waterloo. to work toward Contact him at (319) your key finan234-7000. cial goals. Here is a rundown of what’s been put in place effective in 2011 (or in some cases, in 2010):
Extension of 2010 tax rates Federal income tax rates established in 2001 and scheduled to expire at the end of last year are now in place through 2012. Tax brackets start at 10 percent and peak at 35 percent.
Temporary tax holiday For 2011 only, the 6.2 percent Social Security tax deducted from your paycheck (up to the first $106,800 of Social Security wages in 2011) will be reduced to 4.2 percent. That means an extra $200 for every $10,000 of Social Security wages you earn (up to the Social Security wage limit). Note that the reduction does not apply to the employer’s contribution to Social Security, and the payroll tax related to Medicare for both employers and employees remains unchanged. A similar reduction also applies for self-employment tax.
Capital gains, dividends
Estate taxes
Like income tax rates, existing rates on long-term capital gains and qualifying dividends were scheduled to increase at the end of 2010. However, the rates that existed in 2010 have been extended through 2012. The highest applicable tax rate on most long-term capital gains and qualifying dividends is 15 percent and for lower-income taxpayers can be as low as 0 percent.
The estate tax has been in flux for several years. In 2009, a perperson exclusion of $3.5 million was in place. Taxable estates valued beyond that amount were subject to a tax of 45 percent. In 2010, the estate tax was scheduled to be repealed, but only for that year. Under the new law, the estate tax is retroactively reinstated for 2010 (but with an electout provision) with an exclusion amount set at $5 million per person, so potentially $10 million per couple — with a tax rate of 35 percent applying to estates larger than that. The higher exclusion amount and lower rate apply for 2011 and 2012.
Education credit The enhancements made to the Hope Scholarship Credit (American Opportunity Tax Credit), which provided for a $2,500 maximum tax credit per student for the cost of tuition and related expenses paid during a taxable year in 2009 and 2010, is extended to 2011 and 2012. Qualification for the credit is subject to income limits. The credit is phased out for single taxpayers with income over $80,000 and married couples filing a joint return with income over $160,000. Also extended for 2011 and 2012 is the ability of certain individuals to deduct up to $2,500 in interest on qualified higher education loans from their income taxes. The deduction phases out for individuals earning more than $60,000 and married couples filing a joint return with income above $120,000. Families can continue to invest up to $2,000 per year in Coverdell Education Savings Accounts in 2011 and 2012. Dollars can grow on a tax-advantaged basis and be used to pay elementary, secondary and higher education expenses.
cific ideas to consider in light of the recent tax legislation: ■ Make sure that the amount being withheld from your paycheck is appropriate. Now that you know income tax rates aren’t going up this year or next, you are better off avoiding having too much withheld and ending up with a large tax refund every year. This is money that could be put to better use each month, specifically toward your key financial goals. ■ Consider taking the 2 percent savings from the temporary payroll tax holiday and putting it to work toward your retirement by increasing the amount directed to your workplace savings plan, or making a regular Possible strategies contribution to an IRA. Strategies that may be suitable ■ Determine if you should will depend on your circum- adjust your investment stratestances, but here are some spe- gies to take advantage of the
$285,000
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• For Sale • 8 Units • (2) 1 bedrooms, (6) 2 bedrooms • Fully Occupied • Cap Rate 10.5%
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Advertising in the Courier is an efficient way to spend your advertising dollars. If you want to place a display ad, call an account executive at 291-1497 from 8 a.m. to 5 p.m. Monday through Friday. Our account executives will help you establish a campaign.
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ongoing favorable rates for long-term capital gains and qualifying dividends. ■ Review your estate plan to determine if any changes are needed in light of the new estate tax laws. Make sure any trusts and wills are up to date and consistent with the law, especially since the most recent change is only effective through 2012. ■ Stay prepared for future changes. By the end of 2012 at the latest, Congress is likely to have to address many of these same tax issues again. A regular review of your financial and tax situation should be part of your routine. ■ Consult with your financial and tax advisers for more information before making any critical decisions that could have a tax impact.
1419 LaPorte Rd., Waterloo
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• 2,000 sq. ft. suites available • Former Mauer Eye Center • Totally renovated • All services included
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Want to get posted? For advertising opportunities in future cvbm directories, contact Jackie Nowparvar at 319-291-1527.
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Want to get posted? For advertising opportunities in future cvbm directories, contact Jackie Nowparvar at 319-291-1527.
3425 Sycamore Court NE Cedar Rapids, Iowa 52402
Sam McCord CEO/Founder
phone: 319.378.0077 fax: 319.378.1577 cell: 319.270.4507 www.mcgbiocomposites.com mccord@mcgbiocomposites.com
APRIL 2011
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Get your money’s worth Advertising in the Courier is an efficient way to spend your advertising dollars. If you want to place a display ad, call an account executive at 291-1497 from 8 a.m. to 5 p.m. Monday through Friday. Our account executives will help you establish a campaign.
WO-032511066
MidAmerican Energy Company’s EnergyAdvantage® programs are designed to encourage the use of high-efficiency space and water heating equipment, central air conditioning, lighting and other measures in commercial and industrial buildings. The installation of new energy-efficient equipment will save you money on your energy bills and can make your business more comfortable for your customers and employees.
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APRIL 2011
Main Street Waterloo marks victories in 15-year fight to revitalize downtown By JOHN MOLSEED john.molseed@wcfcourier.com
WATERLOO — When Mike Hahn took the director of the Iowa Main Street program for a tour of downtown Waterloo in 1988, the reaction was less than encouraging. “Thom Guzman and I were walking down Fourth Street, and he was shaking his head,” Hahn recalled. “We had buildings collapsing in on each other.” The visit was the beginning of a new chapter for downtown Waterloo — which in 1996 would become a member of the Main Street program. Main Street Waterloo officials are marking the 15th anniversary of their organization this year. Hahn was the first executive director of Main Street Waterloo. Before the organization was formed, he worked with four groups that had led downtown revitalization efforts: the Cedar Skyline Corp., the citybacked Waterloo Redevelopment Authority, volunteer organization Updowntowners and Waterloo
Downtown Council. “We basically had four chiefs going in four directions,” Hahn said. “They all meant well, and they all had their purpose.” Main Street was a unifying force, Hahn said. “We had a lot of little victories,” said Randy Pilkington, former Waterloo Redevelopment Authority director. “But because we had so much vacant space, people didn’t see that.” Terry Poe Buschkamp, executive director of Main Street Waterloo from 1998 through 2008, said the four groups coming together was essential to the progress that came after. Under Buschkamp’s tenure, dozens of new businesses took root downtown, but she said progress was incremental. Buschkamp and Hahn established events including Friday ‘Loo, which Hahn said was patterned off a downtown event in West Palm Beach, Fla. Other events followed, including Tour de ‘Loo, which gives people a glance at renovation projects from start to finish, and Taste of ‘Loo,
a walking tour featuring foods offered by downtown business. “It’s hard to point to big successes,” she said. “That’s not what Main Street is about. It’s about small, successive successes.” For one downtown developer, a major loss early in the battle to reclaim downtown led to her involvement. Donna Nelson of Nelson Properties — which owns the Black’s building — helped establish Cedar Skyline to preserve historic downtown structures and draw business downtown after her efforts failed to save the Paramount Theater on the 100 block of East Fourth Street in 1972. “It was heartbreaking for me,” she said. “I took it personally.”
See DOWNTOWN, page 21
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DOWNTOWN From page 20 National Bank, which later became Regions Bank, helped finance the group’s efforts to buy buildings. In most of the empty structures, minimum maintenance was done to keep them from deteriorating further. “It was kind of a life support for downtown buildings until you could do the surgery to give them life,” said Chuck Orr, a downtown resident and developer. “If there aren’t people working in it, people living in it, the building is going to die.” Pilkington said the strategy was unique and wouldn’t likely be successful in other scenarios. “It’s not something I would recommend for other development companies,” he said. Orr renovated living space in the second and third floors of 616 Sycamore St., and Nelson purchased the Black’s building. Other investors slowly followed. Rene Dupont and Bryan Nichols renovated upstairs and downstairs spaces including the site of CU Restaurant at 320 East Fourth St. Hahn and Nelson agree Cedar Skyline efforts kept buildings standing until investments were
made and likely saved downtown as people know it today. “If you didn’t have Cedar Skyline Corp., this whole block would probably be a parking lot,” Hahn said while sitting in Cottonwood Canyon, 218 E. Fourth St. He recalled touring the building in the 1990s and finding the flooring unsafe and a family of raccoons living in the space. Despite the preservation efforts, investors said they faced an uphill battle. Orr began work on the Haffa building in the 200 block of East Fourth Street and the Fowler building at the corner of East Fourth and Lafayette just in time, he said. The Fowler building is one of many downtown that have found new use but have kept their old character. Fowler houses The Screaming Eagle American Grill, the headquarters of Silos and Smokestacks National Heritage Area and has residential space. The building sat empty for years, and is now a centerpiece of downtown activity. Investors say federal and state historic tax credits have helped them bring the older buildings back to life but retain their original character. Before and after photos show a stark contrast between the building’s new life and the blighted
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building that loomed over a hightraffic corner in the heart of the city. Other buildings are following its path. The former Newton’s Jewelers, 128 E. Fourth St., is now a restaurant with two apartments under construction on the second floor. The art deco look and neon sign were refurbished with the help of I-JOBS funding and a $50,000 grant from the Iowa Department of Economic Development. The Newton’s project is part of a recent surge of residential spaces created downtown in recent years. JSA Development, owned by Jim Walsh, Waterloo city attorney, is completing a dozen spaces. Although construction is complete on only three of those spaces, 11 of the 12 have tenants. Three apartments in the Asquith Building, 217 W. Fourth St., were completed in December. Work is continuing at Newton’s and the top two floors of the Repass building at 326-330 E. Fourth St.
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Phone 319.266.2445 • Toll-Free 800.316.2445 • Fax 319.266.4259 P.O. Box 1106 • 411 Clay Street • Cedar Falls, IA 50613 www.jacobsonfinancialservices.com
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wayne.jacobson@lpl.com
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CEDAR VALLEY BUSINESS MONTHLY
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APRIL 2011
Subcontracting can be great for your business Organizational Employment Services, such as those available at North Star Community Services in Waterloo and Waverly, is a workplace that provides employment opportunities to people with disabilities. The work that is provided to the employees of this type of program is made available through outside companies that s u b c o n t ra c t or outsource various types of jobs. People Jodie Muller perform a variis director of ety of tasks, development & public and in turn are relations for North provided with Star Community Services in Waterloo. work experiContact her at ence, wages, job 236-0901 x304 or training, and jmuller@northstarcs. other benefits. org. The goal is to provide individuals with disabilities meaningful employment, which in turn improves their quality of life, teaches valuable skills and promotes independence. “That’s great,” you might say,
“but what does that have to do with me or my business?” Simply defined, sub-contracting (also referred to as outsourcing) is a means of acquiring a product or service rather than producing it in-house. Some of the many jobs that can be subcontracted include: general assembly, light manufacturing, packaging, sorting, putting together mailings, microfilming, shredding and other special projects. Outsourcing work is suitable for just about any industry and can maximize your company’s productivity and allow access to an additional pool of resources. Studies have shown that, depending upon your company, you can cut some of your costs by as much as 10 to 30 percent. Cost-cutting can be seen as the key benefit of outsourcing, but it also can be viewed as a strategic planning and business outcomes tool, keeping your company on course to becoming a more solid competitor within your industry. Additionally, there are improvements to your business that can be gained from an outsourcing initiative. Examples of improved outcomes can include: better plan-
ning, increased speed to market, quicker implementation of new strategies/projects, lower capital requirements, and higher operational reliability (essential to productivity assurance). Outsourcing portions of your business can be highly lucrative. You can purchase services on an as-needed basis, saving the costs associated with hiring a fulltime employee. In this way you can reduce overhead by avoiding employee-related expenses such as salary, unemployment tax, paid vacation, insurance and overtime. Costs associated with training and extra supervision can be reduced as well. Consider these general benefits: You will get specialized product/ services at cost-effective prices, leading to a potential increase in business, enormous savings,
MESS HALL
greater efficiency and a competitive edge to your business. There will be greater control of your budget, and you may be able to turn some of your fixed expenses into variable ones. With some of your less important work outsourced, the money you would have spent on work force, infrastructure, etc., can be saved and the investment put to better use. Use it to increase speed. When you can make quick deliveries to your customers, you save valuable time. Efficient, speedy deliveries to satisfied customers pave the way to greater customer satisfaction, which in turn can attract more business to your company, resulting in greater revenue and profits. You will get an increased commitment in non-core areas. Generally speaking there is increased
quality assurance because the individuals who are performing these jobs genuinely care and want to work. When your employees don’t have to perform these types of tasks, you will see an improvement in their morale. Can outsourcing some of your jobs to a workplace such as North Star Community Services help your business? Without a doubt, it can. It’s a smart business decision. Your company can cut costs and save time without sacrificing quality. As a bonus, you will have the added satisfaction of supporting a great nonprofit in your community. To learn more about what subcontracting services can do for you, contact Maureen Kelly or me at 236-0901 or e-mail mkelly@ northstarcs.org to arrange for a tour.
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APRIL 2011
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Changes require a look at your insurance situation
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RV IC
5
7 million people have private long-term care insurance, compared with 250 million who have health insurance. In 2007, www. crs.gov reported that employersponsored LTC insurance represented one-third of all active policies. Employer-sponsored LTC insurance is distinct from employer-sponsored health insurance in that employers typically do not contribute to LTC premiums. Why don’t individuals have a plan for their long-term care needs?They might falsely believe that Medicare or their Medicare supplement will foot the bill. Or that maybe the federal government’s Medicaid program or their families will offset their costs. Or they believe long-term care services will never be needed by
2
received through the program participants. The plan became effective Jan. 1, 2011, but the details of the program and how it will operate have not as yet been defined. The health reform law requires the government to release the details of how the CLASS Act will work by Oct, 1, 2012. What do we know at this point? Long-Term Care is not just for “old” people. Do not visualize a nursing home with an old couple in rocking chairs. According to www.LongTermCareInsuranceTree.com, the testimony given by the dean of Georgetown Public Policy Institute estimated that for adults between the ages of 18 and 64, two out of five will need long-term care. And 70 percent of individuals over the age of 65 will need long-term care services at some point in their lifetime, as noted by www.americanbar.org. The National Academy of Elder Law Attorneys did a study comparing the risk of long-term care needs with the risk of a major auto accident and the risk of a house fire. According to that study published at www.LongTermCareInsuranceTree.com, the rates of risk were: ■ 1 out of 240 — automobile accident (0.4 percent). ■ 1 out of 1,200 — house fire (0.8 percent). ■ 1 out of 2 — long-term care (50 percent). Insurance is a form of risk management used to hedge against uncertain loss. We purchase health insurance, car insurance, life insurance but according to www.kaiserhealthnews.org only
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As the curtain went down on the 2009 U.S. Senate, the “CLASS Act” remained buried in a congressional bill. Last year, President Obama signed his health care overhaul into law and the debut of a national, voluntary, tax-qualified long-term care assistance program began. The purpose of the Community Living Assistance Services & Support Act (CLASS Act) is to help individPatricia Harkin uals maintain their indepenis director of business dence by prodevelopment with viding options Financial Decisions for people that Group in Waterloo. need a way to Contact her at 233help pay for 8476 or pharkin@ their long-term fdg.net. care services. It is a national, voluntary insurance program that pays a cash benefit (to be no less than $50 per day) depending on your Activities of Daily Living (ADLs): eating, bathing, dressing, using the toilet, getting out of bed or a chair and caring for incontinence. The premium (estimated $123) must be paid through payroll deduction from participating employers and must be paid into this plan for five years (vesting period) with the individual working three of those five years. The CLASS Act program is designed to be selffunded by these monthly premiums so the actual cash benefit will be subject to the premiums
OF S E
them and if they do need it they will have enough personal savings/assets to cover the expense. Medicare is limited to paying only 100 days of skilled nursing care following a hospital stay of at least three days. Medicaid will pay the bill but only after you have exhausted virtually all of your income and assets. According to www.ec-online.net, Business & Health Magazine stated that 70 percent of single people and 50 percent of married couples using their personal savings/ assets would become impoverished within one year! Again from www.ec-online. net, The National Association of Insurance Commissioners says that the average cost of a year in a nursing home is $38,000 and inhome care cost can range from $90 to $150 per day.
So what are the options to pay for your long-term care? 1. Do nothing and hope for the best. 2. Spend down to poverty level and let the government pay your bills through welfare programs, if available. 3. Self-insure through personal savings and personal assets. 4. Transfer the risk to a private long-term care provider. Is growing old a problem for our society? My college professor once said, “If you think it is a problem make it a process.” This process will not happen automatically and requires personal involvement and professional involvement from your financial adviser. The curtain is going up on a new era in health care — contact a financial professional today,
Expect the Best Quality | Service | Price
Ron Potter
WO-032511071
319-232-7113
1416 W. 4th St., Waterloo WO-032511010
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CEDAR VALLEY BUSINESS MONTHLY
cvbusinessmonthly.com
APRIL 2011
Photos by TIFFANY RUSHING / Courier Staff Photographer
Alliance & Chamber Awards Left, Bob Hellman gives an acceptance speech after receiving the FulďŹ lling the Vision of One Award at the Greater Cedar Valley Alliance & Chamber awards ceremony March 10 at the Five Sullivan Brothers Convention Center in Waterloo. Above, Robert Brock accepts the Legacy Award on behalf of his father, Harold, who died in January. Below left, Bob Justis, CEO of the Greater Cedar Valley Chamber of Commerce, voices his appreciation to local businesses during the program.
WO-032511058
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APRIL 2011
CEDAR VALLEY BUSINESS MONTHLY
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PAGE 25
Strictly Business offers a varied menu of assets From the perspective of a healthy mind, healthy body, healthy home and healthy budget, Strictly Business gives our business community an opportunity to grow the health of our businesses, economy, and employees. We know the importance of happy, healthy Jessica Crouch employees to is Shaklee director help our busiwith Organized for nesses thrive You. Contact her and vice versa. at (319) 504On the business 6689 or jessica@ side, we have organizeanywhere. resources from office supplies and services to ďŹ nance, advertising and marketing to employment services. We will learn about ways to grow our
business, and therefore our economy, while supporting other local businesses doing the same. On the personal side, we gain the expertise of health resources as well as entertainment and recreation services. By providing quality of life, we take care of our work force, increase productivity, foster creativity and welcome newcomers to our community. Finally, the educational resources and civic opportunities create a well-rounded picture. Whether we want to pursue educational goals, support the development of our work force, or give to the community that supports us, we can improve the bigger picture. With this one-stop-shop, we hope to connect with other community members and businesses to form partnerships that enhance the health of the Cedar Valley.
For breaking news coverage, photos and video updated all day
Cedar Falls 6301 University Ave. (Inside College Square Mall), 319-266-2500
Waterloo 1513 Flammang Dr. (Next to Starbucks), 319-226-3500
Waverly 1810 4th St. SW (Across from Norby’s), 319-352-6200
WO-032511036
CALL FOR STORE HOURS.
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CEDAR VALLEY BUSINESS MONTHLY
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APRIL 2011
Wartburg offers antidote to Iowa’s ‘brain drain’ As graduation approaches, it’s time for anxiety to set in among many of the 300-plus Wartburg seniors who will receive their degrees May 29. Historical data indicates they will do well. Around 98 percent of Wartburg graduates during the past decade either were working full-time or were accepted at graduate school within six months of receiving their diplomas. Some already have jobs lined up, thanks in Saul Shapiro great part to is director of news the internships and community relations at Wartburg they were able to accumuCollege. late as students — many in the Cedar Valley, thank you. Others are taking the next step necessary in either gaining required credentials or burnishing their resumes by going to graduate schools — with acceptance still pending in many cases. But in a down economy, an uptick in the anxiety level is inevitable, particularly with many sectors — communications, anyone? — in upheaval due to changes in technology and global competition. While “Strictly Business” is designed as a business-to-business exposition to learn about products and services offered in the Cedar Valley, consider, too, the graduates entering the work force as well as continuing students looking for summer and academic-year internships. My experience as a one-time newspaper editor who hired numerous Wartburg students and now as someone who teaches them in an adjunct capacity is that the overwhelming majority are fundamentally sound, quick learners, have an excellent work ethic, and — dear to the hearts of most employers — are (hallelujah) “low maintenance.” Here’s another advantage: Recall the angst regarding Iowa’s “brain drain” when the 2000 cen-
sus revealed the state trailed only North Dakota with the second highest outmigration of young, single, “well-educated” adults (22-29) from 1995-2000. Iowa lost 14,579 people with a bachelor’s degree and 2,323 with a master’s degree. In a rapidly changing economy, it’s a requirement for business success to keep our best and brightest at home. Wartburg students are staying here. From 2008 to 2010, of those Wartburg graduates responding to the college’s annual placement center survey, 74 percent (563 of 758) of the Iowa students intent on finding a job or going to graduate school remained in the state. As a bonus, 31 percent of the American out-of-state Wartburg graduates relocated to Iowa to work or continue studies. In some of the more competitive areas, the graduate school placement rate is off the charts. For instance, 96 percent of Wartburg students are admitted to medical school compared with a national average of 46 percent. Wartburg has partnerships with other local institutions that help make that happen. For example, the college partners in an internship program with the Waverly Health Center that involves more than 70 students participating annually. From January 2008 to December 2010, 179 students put in 4,200 hours of volunteer time at the hospital. Their training impressed Gov. Terry Branstad, who has stated, “When I was (president) at Des Moines University (College of Osteopathic Medicine), we had medical students from everywhere — from BYU to Boston College — but the highest achievers were the graduates of Wartburg College. “They had the highest grade point average in medical school of every college and university of the United States that we had. They have one of the best pre-med programs, bar none, in the United States of America. That’s a great asset.” Wartburg also has a very successful “3+1 partnership” with
Allen College of Nursing enabling students to get a nursing degree from both schools in just over four years — three years at Wartburg and 15 months at Allen. In addition, students get health-related experience working at the Bartels Lutheran Retirement Community in Waverly. These “kids” aren’t one-dimensional. One of the students working for me in our Marketing and Communication office may be atypical, but not by much. She was class valedictorian in high school, KWWL Best of the Class, editor of the high school yearbook, sports reporter on the school newspaper, and all-state academic in basketball and track (with a state relay championship). I kidded her about not having time for choir. “Oh, I couldn’t,” she said. “I was in band.” When she asked me to review her
resume recently for an internship, I discovered she had been on the speech team. “I hope you’re not holding anything back from me,” I said. “Next I’ll find out you were a cheerleader.” “Nope, not a cheerleader,” she replied. “Dance team.” So, if you’re interested in helping
to stem Iowa’s “brain drain,” while making an excellent investment in your work force, contact Derek Solheim, associate director of the Pathways Center for Career Services, at (319) 352-8425 or derek. solheim@wartburg.edu, or internship coordinator Jo Dorrance, (319) 352-8698 or jo.dorrance@wartburg.edu.
WO-032511053
Name Business Name Business Address City
State
Zip
Phone E-mail Address Quantity Requested Mail to: Business Monthly, P.O. Box 540, Waterloo, IA 50704
cvbusinessmonthly.com
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CEDAR VALLEY BUSINESS MONTHLY
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Tips to help companies deal with too much profit? The problem of too much profit in your business is one of those topics that is rarely tackled in business publications. If your business is suffering under the mantle of making too much money, the following antidotes are offered for dealing with the dilemma and for getting back to the more familiar and comfortable territory of cost cutting and complaining about sales: If you follow just three or four of these Marabeth guidelines, you Soneson is executive director should have the of Community Main problem of “too Street in Cedar Falls. much profit” Contact her at 277- solved in a short 0213 or 290-7733. amount of time! What to do if your business is making too much money: ■ Decrease your hours of operation. This should help reduce profits generated by having longer hours. If you have a severe profit problem skip directly to having sporadic business hours and changing them without notice. ■ Delete your employee customer service training program. It’s really not necessary any longer now that you’re making too much money. Cease insisting that the staff smile, feign happiness or greet customers. ■ Remove from your payroll the key employees that have helped you build the business. They, and the relationships that they have developed in the industry, are clearly no longer needed. After all, experience and industry knowl-
edge just generate more success. ■ If you’re a retail business and it’s a slow day, go ahead and close early. Closed doors will definitely keep a few sales from happening. This move helps not only on that day, but has a nice ripple effect when customers think of your store another time – consider this a strategic move. ■ Make sure that all phone calls are answered by an answering machine. Delete any business-related messages; do not return any phone calls. Ignore any requests for bids — this will just lead to more business and more profit. Implementing a voice mail system with at least four levels of required responses also works wonders for curing the profit problem. ■ Share your personal problems with customers. Encourage your employees to have personal conversations with each other in front of customers. ■ Always give the customer someone to blame — not you, of course, but perhaps your distributor, the manufacturer, the shipper, your employee. Never accept personal responsibility for your business or employees whether or not it’s “your fault.” ■ Leave old window displays in place especially those including holiday decorations. Even better, cover up your windows. If you must put something in the window, put the low-profit clearance items that you’re trying to get rid of front and center so that customers understand that this is what you really care about. ■ Ignore any customer feedback or complaints. Don’t worry, the customers will go away and you
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Computer Equipment Dictation Equipment Copiers Networking Computer Printers Calculators Cash Registers Facsimile Check Writers Time Clocks Typewriters
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won’t have to deal with the issues any longer. ■ Stop all community involvement. There’s nothing more inappropriate than giving to local charitable causes or being a sponsor when you have too much money on your hands. Soon, the community won’t notice your absence in the neighborhood. ■ Quit checking out your competition. Again, this exercise is no longer necessary. They do not have anything to offer in solving your current problem. In fact, in many cases, the competition may have more of a profit predicament than you! ■ Similarly, keep the same products, merchandise and services that you’ve always offered. It saves a lot of time to do the same thing repeatedly. You’ll achieve your goal of less profit when you have to clearance the archaic items down the road, and when your services
become irrelevant or obsolete. ■ Cater to new customers and ignore the established, loyal customers. Certainly do not attempt to learn the names and preferences of repeat customers, nor introduce or share your name. Loyal customers like receiving the same anonymous treatment as anyone else. ■ Establish more “policies” in every aspect of your business; concentrate on tightening those policies that restrict the creation of profit. Instruct your employees to use the phrase, “I can’t, it’s store policy” in response to any customer request as often as possible. ■ Stop all marketing efforts. Remove store hours and phone numbers from your website. Better yet, eliminate your website. In the short term, this will contribute to your “too much profit problem” by reducing costs, but will
help in the long run by making it impossible for customers to find out anything about your business. ■ Quit cleaning your place of business. Again, in the short term you’ll be making more profit by saving on cleaning costs, but eventually this will pay off in fewer customers. It also helps if your bathroom facilities are strictly kept for employees only. ■ Flicker the lights 15 minutes before closing time so that customers know that they should get out of your store now. Maintain your personal schedule at all times, especially on weekends when customers can be particularly casual. ■ Always answer a customer question with “I don’t know.” Never, ever, add the statement, “... but I’ll find out and get back to you.” This just encourages customers to bond with you, which only generates more profit problems.
What could be better than health care? Knowing it’s always close by.
At Arrowhead Medical Center you’ll find n nd a full range of primary and specialty care services, ready when you need od: them most, right in your neighborhood:
Family Practice
Chiropractic Care
Convenient Care
Gynecology
Occupational Medicine and Wellness
Onsite Lab/X-ray Services
Podiatry
Psychiatry
Therapy
Arrowhead Medical Center Corner of South Main and Greenhill Road 226 Bluebell Road, Cedar Falls, IA 50613
Wheaton Franciscan Healthcare
Make sure you visit our booth at this year’s Strictly Business. WO-032511009
APRIL 2011
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WWW.GREATERCEDARVALLEYCHAMBER.COM
Business After Hours
Premier Sponsor
Thursday, May 5th, 4:00 - 6:00 p.m. Hawkeye Community College - Health Education and Services Center 1501 E. Orange Rd., its Waterloo This informal networking event gives your business the opportunity to showcase products and services to Chamber members. Business After Hours offers networking in a fun and relaxed atmosphere. RSVP by April 28 to Bette Wubbena, 232-1156 or bette @ greatercedarvalleychamber.com Gold Sponsors
Business Education Series Utilizing Technology to Streamline Your Business Process Thursday, May 13th, 7:30 - 9:00 a.m. Windridge Retirement Community Premier Sponsor
5311 Hyacinth, Cedar Falls
Steve Lewis of Advanced Systems electronic document management department has been helping businesses throughout Iowa learn how implementing an electronic document management system can save companies money and help eliminate unnecessary duplication in business processes. With the right solution - one that fits your organization's needs and operating style - you can devote your staff's time to more productive tasks, increasing the efficiency of your work processes, saving both time and money. In this part of the Business Education Series, Steve will discuss how to evaluate different document management systems and how to choose the right solution for your unique needs. Attendees will learn: The basics of Electronic Document Management (EDM); How to use EDM to increse efficiency and solve business-critical problems; conducting a needs assessment; and choosing the best EDM solution partner. Mr. Lewis joined Advanced Systems in 2005 and has worked closely with the development of the EDM department of Advanced Systems. A Solutions Engineer, Mr. Lewis has helped implement multiple fully-functional Laserfiche systems for clients of Advanced Systems. He holds multiple certifications from CompTIA and Microsoft. Gold Sponsors RSVP by May 6th to Bette Wubbena, 232-1156 or bette@greatercedarvalleychamber.com Cost is $20 for Alliance & Chamber members and $40 for non-members.
Thank you to all of the Greater Cedar Valley Alliance & Chamber Premier Members. Advanced Business Systems AM Design/Drafting Inc. Bank of America Home Loans Beacon of Hope Hospice Bethlehem Lutheran Church Bickford Cottage BioLife Plasma Services
Cedar Valley Society for Human Resource Management Coffman Body Shop Community Planning & Development Crystal Distribution Services Electronic Engineering Co.
Ferguson Enterprises, Inc. Hawkeye Sheet Metal Howard R. Green Lamar Advertising of Waterloo Levi Bros. Jewelers Main Street Waterloo Nelson Properties
Ramada Convention Center Schuerman Cabinet Design Studio TEAM Technologies U.S. Cellular Upper Cervical Health Centers Wendy's Old Fashioned Hamburgers
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WWW.GREATERCEDARVALLEYCHAMBER.COM
APRIL 2011
Dream Big Grow Here Cedar Valley $5000 Small Business Grant www.DreamBigGrowHereCedarValley.com Greater Cedar Valley Alliance & Chamber in partnership with Cedar Valley Marketing Partnership and MyEntre.Net, has announced the launch of the new ‘Dream Big Grow Here Cedar Valley’ contest for entrepreneurs and small businesses in Iowa. Starting in March 11th, growing businesses in Black Hawk, Bremer, Buchanan, Butler, Chickasaw, Grundy and Tama counties can compete to win $5,000 to help bring their business concept to reality or help their business to grow here in the Cedar Valley economic area. “This is a great time for small, growing businesses in the Cedar Valley to pursue their dreams. The economic development partners throughout the Cedar ơ Ƥ ͙͂ǡ͔͔͔ ǡdz Ƭ Ǥ Starting March 11th through April 13, 2011, entries can be submitted on the ‘Dream Big Grow Here Cedar Valley’ Web site at www. DreamBigGrowHereCedarValley.com. Contest participants can submit a video or email about their business growth idea, share their dreams for growing their Cedar Valley company and express what it means to them to be in business in Iowa. Visitors to ‘Dream Big Grow Here Cedar Valley’ will have the opportunity to vote on the ideas they like the best beginning April 15th through April 30th. One lucky entrepreneur will be awarded $5,000. Individuals will be able to vote for their favorite business grown ideas once per day. The entry with the most votes at the end of the voting period will be the ‘Dream Big Grow Here Cedar Valley’ contest Ǥ Ƥ Ǥ For more information on the ‘Dream Big Grow Here Cedar Valley’ competition and for complete rules, go to www.DreamBigGrowHereCedarValley.com or contact The Greater Cedar Valley Alliance & Chamber at info@cedarvalleyalliance.com.
Power Networking
Celebrating
Thursday, April 28th, 4:00 - 5:30 p.m. Clarion Inn University Plaza 5826 University Ave., Cedar Falls Gold Sponsor
Power Networking is a structured social event, limited to 50 Chamber representatives (Limit 2 per business). Build your prospect list with 25 new business contacts in just 90 minutes with a one minute commercial. Make sure to bring plenty of business cards. To make your reservation, please contact the Alliance & Chamber office at 232-1156. Cost is $10, pay at the door. RSVP by April 21 to Bette Wubbena, 232-1156 or bette@greatercedarvalleychamber.com.
Waterloo Schools' Highland Elementary Open House April 13, 2011 4:00 p.m. - 5:30 p.m. 812 Idaho St.
Member Coupon Page Members now have the opportunity to post a coupon on the Chamber web site. Each coupon will also feature your company's logo as well as a link to your web site. Members receive one free coupon per calendar year, changes can be made for a minimal charge. Contact Amy at 232-1156 or anderson@cedarvalleyalliance.com
{10 YEARS} Member Survey
Would your business or organization like to receive feedback from other members? Members now have the opportunity to send a survey to Chamber members about business issues. Provide us with a copy of the questions you would like sent and we'll take care of the rest! Members receive one survey per calendar year. Please contact Molly Brown at 266-3593.
of educating Waterloo area MBA Students
www.sau.edu/mba mba@sau.edu 563/333-6354
Please note the Alliance & Chamber no longer has a P. O. Box. Please send all payments and invoices to 10 West 4th St., Ste. 310, Waterloo, IA 50701
Welcome New Members!
Geof & Vicki Grimes 1711 Dakota Dr. Waterloo, IA 50701 Category: Individual Great Clips 226 Brandilynn Blvd. Cedar Falls, IA 50613 Phone: 319-266-1444 Website: www.greatclips.com Contact: Mickey Aker Category: Barbers/Beauty/Tanning Salons Hi achi & ushi uơet 1535 Flammang Dr. Waterloo, IA 50702 Phone: 319-232-6868 Contact: Kevin Wong Category: Restaurants/Bars/Caterers Riddle’s Jewelry 6301 University Ave., Suite 1185 Cedar Falls, IA 50613 Phone: 319-227-2250 Fax: 319-266-5793 Website: www.riddlesjewelry.com Contact: Larry Mernaugh Category: Jewelers Interested in joining the Greater Cedar Valley Alliance & Chamber?
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Mayor Volunteer Awards Luncheon April 12, 11:30 Five Sullivan Brothers Convention Center The Volunteer Center of Cedar Valley, in partnership with the Cities of Cedar Falls, Evansdale, and Waterloo and the Greater Cedar Valley Chamber Ambassadors will recognize individuals who have demonstrated an outstanding commitment to service through volunteerism in the Cedar Valley. The Mayor's Volunteer Awards honor the exemplary contributions of individuals ages 19 and older who dedicate their time and talent to volunteerism in the Cedar Falls, Waterloo and/or Evansdale. The Mayors' Top Teen Awards honor youth ages 13-18 attending a school in Black Hawk County. For more information call the Volunteer Center of Cedar Valley at 272-2087
Ribbon Cuttings!
Community Health Charities Iowa 645 32nd Ave SW Cedar Rapids, IA 50404 Phone: 319-364-4888 Fax: 319-364-4766 Website: www.healthcharities.org Contact: Amy Thuente Category: Associations/Organizations
WWW.GREATERCEDARVALLEYCHAMBER.COM
Cabin Coffee Co 2040 Kimball Ave, Waterloo
MWD - Parly 'Loo Style June 2-5, 2011
Ȉ Ȉ Ȉ Ȉ
Points of Interest Parade application deadline is Monday, May 1st Hobblies & Craft Show application deadline is May 18 ($50 early Bird special deadline is May 1) Picnic on the Plaza will be Thursday June 2 and Friday June 3 from 11:00 a.m. - 2:00 p.m. All Food Vendors have been selected For more information contact Jay Stoddard at 232-1156 or jstodd2000@aol.com APRIL CALENDAR OF EVENTS
Ribbon Cuttings!
Welcome New Members!
Welcome New Members!
APRIL 2011
Moment in Thyme 819 Longview, Cedar Falls
Apr. 5 Tues. Strictly Business Expo - All That Glitters is Gold, Isle Casino Hotel Waterloo, 4:00 - 7:00 p.m. Apr. 6 Weds. Cedar Valley Leadership Institute Apr. 7 Thurs. TechBrew, Voodoo Lounge, Cedar Falls, 5:00 - 7:00 p.m. Waterloo Black Hawks Apr. 12 Tues. TechWorks Board/Alliance Board Mtg., Sunnyside Country Club, 1600 Olympic Dr. 170 Commercial St., Waterloo Waterloo, 3:30 - 5:00 p.m. Ambassador Mtg., Clarion Inn University Plaza, Cedar Falls, 4:00 - 5:00 p.m. Mayors' Volunteer Awards Luncheon, Five Sullivan Brothers Convention Center, 11:30 Contact one of our membership Apr. 21 Thurs. Investor Relations Mtg., Cedar Falls Office, 8:00 - 9:30 a.m. representatives today to learn how your Finance Committee Mtg., Waterloo Office, 12:00 - 1:00 p.m. business will benefit! Molly Brown Apr. 28 Thurs. Business & Industry Luncheon, McCleod Center, 11:30 - 1:00 molly@greatercedarvalleychamber.com Chamber Board Mtg., Clarion Inn University Plaza, 8:00 - 9:00 a.m. or Bette Wubbena Power Networking - Clarion Inn University Plaza, bette@greatercedarvalleychamber.com. or 5826 University Ave., Cedar Falls, 4:00 - 5:30 p.m. call 232-1156.
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APRIL 2011
WWW.GREATERCEDARVALLEYCHAMBER.COM
New Ambassadors for the Greater Cedar Valley Alliance & Chamber
Sue Beach
Bryan Earnest
American Red Cross
ME&V
Mike Fain MidWestOne Bank
Wade Itzen BankIowa
Tonya Ledvina Sarah Langel 93.5 The Mix/ YWCA of Black Hawk County 1650 The Fan
Jason Witham Witham Auto Center
Cedar Valley Leadership Insitute Founders Event Tuesday, May 10, 2011 6:00 p.m. - 9:00 p.m. Sunnyside Country Club 1600 Olympic Drive, Waterloo Social/Appetizers Dream Big Grow Here Cedar Valley Award Keynote Speaker Sarah Miller Caldicott Caldicott, great-grandniece of Thomas Edison and award winning speaker, will share years of research in her book titled Innovate Like Edison: The Success System of America's Greatest Inventor.
The CVLI class got hands on practice using the new MACO robot which is used for knee replacement. Allen Health System is the only hospital in Iowa to have the MACO.
Spring Golf Classic SAVE THE DATE! June 9, 2011 Ȉ Ȉ Ȉ Ȉ Ȉ Ȉ Ȉ
2 shot gun starts 7:00 a.m. / 1:00 p.m. 4 person best shot continental breakfast networking lunch 19th hole social $300 morning per foursome Ȉ $350 afternoon per To make your reservation, please call the Alliance & Chamber office at 232-1156 or contact Bette Wubbena at bette@ greatercedarvalleychamber.com
APRIL 2011 MARCH 2010
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WWW.GREATERCEDARVALLEYCHAMBER.COM
Strictly Business Expo
Presented by the Greater Cedar Valley Alliance & Chamber
Tuesday, April 5, 4:00 - 7:00 p.m. Isle Casino Hotel Waterloo
50 Exhibitors * Free Admission * Prizes * Valet Parking Strictly Business is the annual Greater Cedar Valley Alliance & Chamber business expo, which is open to the public. This event is an opportunity for Alliance & Chamber business owners and professionals to showcase their products and/or services in a tradeshow format. Networking during Business After Hours concludes the evening. This year's Strictly Business Chairs are Grant Gubbrud from the Isle Casino Hotel Waterloo and Stefanie Moudry from Wheaton Franciscan Healthcare. RSVP online at www.greatercedarvalleychamber.com to be entered into a drawing for a $100 gift card. Must be present to win. The event attracts 750 community business representatives. There will be valet parking available. Thank you to our sponsors! Premier Sponsor: Community National Bank, Gold Sponsor: Wheaton Franciscan Healthcare, Business After Hours Sponsor: Bridges Senior Lifestyle Living, and Courier Communications, Exhibitor Exchange Sponsor: Waterloo Convention & Visitors Bureau, Beverage Sponsor: Matt Parrott/Storey Kenworthy.
2011 Strictly Business Exhibitors
Advanced Systems Allen Health System AmericInn Lodge & Suites Bridges Senior Lifestyle Living Cedar Falls Utilities Cedar Valley Hospice Clarion Inn University Plaza Comfort Suites Community National Bank Copyworks Country Inn & Suites Courier Communications Cover-All Advertising & Promotion. Inc.
Dalton Plumbing, Heating & Cooling, Inc. Dynamic Impressions Express Employment Professionals Family Health Chiropractic. P.C. Farrell's Extreme Body Shaping Hampton Inn of Waterloo Hawkeye Community College Home Instead Senior Care Humble Travel Service, Ltd. Iowa Northland Regional Council of Gov. Isle Casino Hotel Waterloo Kaplan University KBBG-FM 88.1 Radio Station
Premier Sponsor
KFMW/KOKZ/KWLO/KXEL Radio Stations KWWL Lamar Advertising of Waterloo Liberty Bank Lincoln Savings Bank Manpower, Inc. Maple Lanes/Valley Park Lanes Matt Parrott/Storey Kenworthy MCG BioComposites LLC MidAmerican Energy Mount Mercy University Nagle Signs, Inc. Next Generation Wireless 93.5 The Mix/1650 The Fan
Peoples Savings Bank Print Innovations LLC Signs & Designs Spielman's Event Services, Inc. St. Ambrose University UNI Business & Community Services UNI MBA Program US Coffee & Tea Company Veridian Credit Union Waterloo Center for the Arts Waterloo Convention & Visitors Bureau Waterloo Exchange Club Waterloo Rotary Club – Downtown Wheaton Franciscan Healthcare
Gold Sponsor
Strictly Business Task Force includes: Mike Bahnsen-Peoples Savings Bank, Todd Carlson-Shaklee, Jessica Crouch-Shaklee, Debbie Dreesman - Cover All Advertising & Promotion, Inc., Sandy Formanek -Laser Designs & Graphics, Inc, Grant Gubbrud - Isle Casino Hotel Waterloo, Tonya Ledvina-YWCA of Black Hawk County, Stefanie Moudry- Arrowhead Medical Center/Wheaton Franciscan Healthcare, Jackie Nowparvar - Courier Communications, Debbie Robeson-Cedar Valley United Way, Brenda Schares-Schmitt Telecom Partners, Bette Wubbena-Greater Cedar Valley Alliance & Chamber, and Amy B. Anderson-Greater Cedar Valley Alliance & Chamber.
APRIL 2011
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CEDAR VALLEY BUSINESS MONTHLY
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Cresco region cheers Featherlite Trailers’ rally By JIM OFFNER jim.offner@wcfcourier.com
CRESCO — The hope in Howard County is that what’s good for Featherlite Trailers is good for the entire region. It’s starting to look that way. Cresco-based Featherlite hit some tough times in 2008 and 2009, laying off 200 workers in January 2009 from a work force that once numbered more than 900. Howard County’s unemployment rate eclipsed the 10 percent market that month, compared to the 6.1 percent it registered in December. “Featherlite is our largest employer in Howard County, so their value to our local economy cannot be understated,� said Jason Passmore, who took over as the
county’s economic development director last summer. So, Passmore said, it comes as no surprise that the county’s jobless picture has improved as Featherlite’s prospects have improved. Running neck and neck with Featherlite as a source of jobs in Howard County is Cresco-based motor vehicle parts manufacturer Donaldson Co. Inc. “They, too, have weathered the economic storm,� Passmore said of Donaldson. “And it’s not just that these companies provide jobs up here; their participation and the volunteerism they support also are huge parts of our community.� Featherlite officials say things have been gradually improving, after the recent recession cut the market for trailers basically in half. Featherlite, which was established in 1973 in Oklahoma, has
been based in Cresco since 1993. “We’ve had a tough time; we’ve had a tough recession,â€? said Eric Clement, the company’s vice president and general manager. “The market is off from about 47,000 or 48,000 units a year to about 23,000 or 24,000 units a year, but we’ve seen the market atten out and maybe kick up a bit now. Maybe it’s back up to 26,000 or 27,000 now. So, we’ve taken advantage of that in terms of natural growth on the market.â€? The company’s market share in the trailer business grew by about 5.5 percent from 2009 to 2010, and further growth is anticipated this year, Clement said. “They’ve weathered, basically, a huge storm with the economy,â€? Passmore said. “I guess that’s a positive aspect, that where some industries and companies were not
able to weather it, Featherlite was and we hope to see them coming back. We’re not out of the woods yet, but speaking with Featherlite managers, they’re expecting the comeback to start to occur with modest growth and conservative approaches.� That involves considerable
John Deere Waterloo Operations, a proud part of an American icon founded in 1837. Since 1918, Waterloo, Iowa has been home to the John Deere Waterloo Operations which includes six manufacturing locations, encompasses 2,734 acres of land and 5.9 million square feet of
John Deere is the World’s leading provider of advanced products and services for agriculture and a leading worldwide manufacturer of offhighway diesel engines.
John Deere Waterloo Operations
WO-032511041
WO-032511065
extra effort and a lot of attention to detail, and considerable expertise, said Gary Kreiner, interiors manager at Featherlite, which recently hosted an open house for its nationwide network of dealers. “Speaking from my standpoint, it’s the people in the building,� he said.
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CEDAR VALLEY BUSINESS MONTHLY
cvbusinessmonthly.com
APRIL 2011
Environmentally friendly farm implements dominate farm show Brent Judisch, a salesman at Waverly Implement and a rural Cedar Falls farmer, said there’s CEDAR FALLS — Producers now so much demand for new John buy green machines, but not Deere tractors that a new one necessarily with a leaping deer ordered now wouldn’t be delivon the grille. New government regulations are making motorized farm implements more environmentally friendly. And in some cases, more fuel efficient as well. All manufacturers are required Your most generous to meet so-called Tier 4 emission gift helps to standards now or in the future. The goal is to drastically reduce * Make an impact, and dangerous particulate matter, like nitrous oxides that can cause * Change people’s lives! acid rain and deplete the ozone Be a “star” & make a layer. Horsepower, price and features difference - make a used to be the only considerdonation today! ations when producers bought a new tractor or combine. Now, technology and the environment are just as important, whether they like it or not. Community Services As farmers looked at the latest implements at the 24th 3420 University Ave., annual Hawkeye Farm Show at Waterloo the UNI-Dome in Cedar Falls last month, many said it’s just 236-0901 another regulation to deal with www.northstarcs.org and they expect to pay more for WO-032511011 engine improvements. But there are limits. Equipment industry officials estimate 5 percent to 15 percent increases. Equipment dealers don’t foresee a major change in buying habits as a result. Sales associates said orders and interest remain strong. Roger Zemkus, who farms near Garber, checked out the cab of a Massey-Furgeson 8670 at the show. He’s considering upgrading his loader tractor next year. “Our concern is technology doesn’t come cheap. It’s all nice, but it has to be paid for,” Zemkus said. “I probably would not worry about 5 percent, but (I would) 20 percent. It depends on corn and livestock prices.” Currently, the farm economy is booming. All the major manufacturers — John Deere, AGCO and Case New Holland — reported good profits during the last quarter, even with the new emisWO-032511019 sion rules. By MATTHEW WILDE
matt.wilde@wcfcourier.com
ered until early fall. John Deere is using exhaust gas recirculation to meet Tier 4 standards. The system captures, cools and redirects exhaust to the engine before its emitted to pro-
equipment. duce fewer emissions. “A year ago I thought (Tier 4) Judisch said John Deere is making up for a price hike by improv- would be a big issue, but now it’s ing fuel efficiency and offering not even a consideration,” more features, like J.D. Link, so farmers can better monitor their See FARM, page 35
ANNUAL CAMPAIGN 2011 “MAKING WAVES”
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NORTH STAR
M. Cameron Hodges, MD About Dr. Hodges: Dr. Hodges is a general surgeon with Covenant Clinic, and the Midwest Institute of Advanced Laparoscopic SurgeryTM. He has nearly 10 years of experience performing surgical interventions including endoscopy/colonoscopy, hernia repair, appendectomy, gall bladder surgery, breast procedures, weight loss surgery and more.
To schedule an appointment, call 319.268.3992.
Covenant Clinic Wheaton Franciscan Healthcare www.WheatonIowa.org
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APRIL 2011
CEDAR VALLEY BUSINESS MONTHLY
With any change, he said buyers sells AGCO equipment, like are concerned about price and Massey-Ferguson. “Massey made engines more reliability. From page 34 Initially, he said some farm- powerful and fuel efficient ... Judisch said. “We started to be ers may choose to buy used and it will help the environment. more green (in) 1995. It’s a 20- equipment instead of new, That’s been one blessing,” Goos but the positives outweigh said. year process.” New tractors affected by the According to the Environmen- perceived negatives. Goos tal Protection Agency, interim Tier 4 rules took effect in January for off-road diesel engines from 174 to 751 horse power. It requires a 90-percent reduction in emissions compared with previous standards. A similar reduction is required by January 2012 for less powerful motors. Beginning in 2014 and 2015, final Tier 4 rules will be implemented, requiring another 80 percent decrease. By 2030, the EPA estimates the rules will prevent 12,000 premature deaths, 8,900 hospitalizations and 1 million work days lost. 203 East Tower Park, AGCO and Case New Holland took a different approach than Suite B, Waterloo, Deere to reduce emissions. The Iowa 50701 companies use selective catalytic reduction, where the exhaust passes through a catalytic chamber after it leaves the engine. It’s Mon, Wed, Fri: 9:00-1:00 and 3:00-6:00 sprayed with a solution — stored Tues & Thurs: 3:00-6:00 in a separate tank — to break *Other Hours By Appointment down exhaust into water vapor and nitrogen. Ben Goos, part owner of Goos Implement in Gladbrook, said he expected to answer quite a few questions about Tier 4.
FARM
DR. STACY CARLIN
Phone: 319-232-5202 Fax: 319-232-5205
WO-032511040
Office Hours:
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recent emission regulations can cost from $100,000 to $300,000. Many new combines are even more expensive. Paul Leerhoff said producers are well aware of the Tier 4 regulations. The Clarksville farmer wants to see how price
and engine efficiency shake out, especially with farm-use diesel about $3.50 per gallon. “I’m going to have a waitand-see attitude,” Leerhoff said. “Emissions are not a huge issue for us. (But) technology and fuel is important.”
Josh’s Life: “I’ve lived in Cedar Falls my entire life, and I wouldn’t want to live anywhere but northeast Iowa. I coach soccer and basketball. I’m on the Rotary board, an Ambassador for the Chamber and have been a Junior Achievement classroom volunteer.” Josh’s Goals: “I want to help my clients reach their business goals in a way that makes sense for them. It’s very rewarding to see someone achieve their goals and to know that I helped them.”
First
National Bank
Josh Hurley V.P., Business Banking First National Bank Cedar Falls Downtown Office Phone: 319-268-7004
S e r v i n g Yo u F i r s t
E-mail: bank@myfnbbank.com
www.myfnbbank.com • Cedar Falls • Waverly • Plainfield
WO-032511060
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CEDAR VALLEY BUSINESS MONTHLY
Water-safety tips can save lives By SCOTT PARSONS
As summer approaches and Iowa residents are preparing for boating season, it’s important to bring safety to the water along side sunscreen and towels. Boating, one of America’s favorite pastimes, recorded a total of 4,730 accidents, according to the U.S. Coast Guard in 2009. More than 700 deaths occurred, more than 3,300 injuries and approximately $36 million in property damage were reported. Many boating accidents are preventable, and knowing the causes of common accidents helps avoid them. The top four causes of boating accidents, as published by the U.S. Coast Guard, involve operator factors such as inattention,
inexperience, excessive speed, improper lookout and alcohol consumption. This summer, Allstate would like to decrease the number of accidents by having you follow the these simple boating safety tips: â– Take a boating education course. Allstate offers discounts (subject to availability and qualiďŹ cations) to boaters who have successfully completed qualifying boating courses from groups such as the U.S. Coast Guard, U.S. Coast Guard Auxiliary and U.S. Power Squadron. â– Make wearing life jackets a rule. Most laws require having U.S. Coast Guard-approved life jackets on board your vessel (for all passengers.) â– Don’t mix drinking and
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APRIL 2011
Get your money’s worth
boating. ■Know the weather and water conditions. ■File a oat plan; give the information to a friend or relative who can call for help if you do not return as scheduled. ■Observe the nautical rulesof-the-water including speed limits. ■Get a courtesy vessel safety check. ■Report emergencies via Ch. 16 on a marine VHF-FM radio. ■Do not discharge oil or sewage into the water. ■Properly insure the boat and make sure it has sufficient coverage.
Advertising in the Courier is an efficient way to spend your advertising dollars. If you want to place a display ad, call an account executive at 291-1497 from 8 a.m. to 5 p.m. Monday through Friday. Our account executives and creative department will be happy to help you establish a campaign, step-bystep, that will sell. Before you set next year’s budget, give us a call.
A personal, more meaningful approach to financial planning. Whether you’re a small business owner, evaluating your estate plan, or sending your kids to college, We can help you plan to reach your financial goals through personal, customized financial planning.
Scott Parsons is an Allstate Insurance agent in Waterloo. Contact him at 2333380.
Call (319) 234-7000 and ask for Larry today!
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Larry K. Fox & Associates A financial advisory practice of Ameriprise Financial Services, Inc.
3404 Midway Drive • Waterloo, IA 50701 Phone: 319-234-7000 • Toll Free: 888-300-7844 larrykfox.com
homeinstead.com/662
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Services Include:
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Serving your neighborhood Cedar Valley
Ameriprise Financial cannot guarantee future financial results. Ameriprise Financial Services, Inc., Member FINRA and SIPC.
WORDS of WISDOM
All that glitters
is
FOR THE BUSINESS COMMUNITY STRICTLY BUSINESS 2011
How has the Strictly Business Expo evolved for the better over the years?
“I have been involved with Strictly Business for only four years as a committee member but had attended before then. Since my involvement as an attendee and committee member, Strictly Business has changed greatly from 2 full days down to 3 hours which has given smaller companies the ability to participate with a shorter time frame of the expo. It’s hard to give up 2 full days of work when limited on staff so the shorter time is better. During the last four years, the Expo has used different venues every couple years which has shown increased attendance by creating a new excitement which increases different and new company involvement. Also, with continued creative and committed committee members and loyal companies every year will only make Strictly Business a success and “better” year after year.” Stefanie Moudry Wheaton Franciscan Healthcare Co-chair of the Strictly Business Expo
“This event has always provided a showcasing opportunity for the exhibitors to show off the quality products and services they can provide. I believe the Committee members have done an excellent job maintaining this focus while continuing to implement suggested improvements they have received from both exhibitors and attendees. Many of the recent improvements, including the addition of an exhibitor exchange, have been made to enhance the networking opportunities available to both the exhibitors and attendees. We also believe holding it at the Isle Casino Hotel adds a whole new level of excitement and additional entertainment options for the event attendees. As always, the committee encourages feedback and will actively seek out suggestions to ensure this event continues to be fun and worthwhile for all involved.” Grant Gubbrud Isle Casino Hotel Waterloo Co-chair of the Strictly Business Expo
“As a Chamber staff, I had the pleasure of coordinating the first business expo in 1991. Over the past 20 years, Strictly Business has grown to a premier business to business expo in the Cedar Valley. The venue allows the fifty exhibitors the opportunity to showcase their products and services to the attendees from the Cedar Valley and surrounding communities. Various changes have been made over the years to enhance the expo. However, one component that has not changed is the outstanding support of the Chamber volunteers who assist in planning and enhancing the event from year to year along with the dedicated exhibitors and sponsors.” Bette Wubbena Greater Cedar Valley Alliance and Chamber Membership Director
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CEDAR VALLEY BUSINESS MONTHLY
cvbusinessmonthly.com
APRIL 2011
Insurance agent says yard sales come with liability risks WATERLOO — As spring arrives, so do the signs on every neighborhood corner pointing to the nearest yard or garage sale, a sure mark that someone is spring cleaning – a dreaded chore that actually can turn into a profitable enterprise. However, the whole experience can quickly turn into a nightmare should someone slip and fall. Homeowners need to understand their policy in regards to yard sales before they tag the first piece of merchandise, according to Scott Parsons, an Allstate Insurance agent in Waterloo. “When residents hold yard sales they need to understand that they can be held liable should a shopper get injured on their property,” he said. “When we have yard sales we invite our entire neighborhood onto our property and this increases the chance for injury. It is fiscally important to review your home insurance coverage with your local agent to ensure your insurance coverage is comprehensive.” In addition to checking insurance coverage, residents should to plan their sale with safety in mind, Parsons said. He offered the following tips: ■ Check with your local agent to find out if your house insurance covers yard sales. ■ Set up clear and marked walking areas between sale items. ■ Store sharp and dangerous items in a safe place not out in the open. ■ Repair all yard holes, loose railings, and cracked concrete. ■ Keep your pets inside the house. ■ If an injury occurs on your property be sure to get immediate medical attention. ■ If you hold regular yard sales ask your local agent if your policy requires you to add business insurance. “Most homeowners insurance and rental policies will cover you for bodily injury and property damage that you or your family members cause to others, including court costs and judgments against you,” Parsons said. “However, the coverage amount is typically limited, often to $100,000.
Additional liability protection is available and everyone should consider getting enough insurance to protect their assets and finances.” One other item to consider for
those who have frequent yard sales is that they purchase a separate policy for business liability, or an in-home business policy, Parsons said. “As a general guideline, if you
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have a couple of yard sales a year, you’re probably covered by your homeowner’s policy,” he said. “If your sale is a charity event, you’re also probably covered. But if your yard or garage sale busi-
ness is growing out of a hobby or interest, such as jewelry making, crafts, quilting, collecting or liquidating estates, it’s probably time to review your insurance needs with your agent.”
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Providing Third Party Integrated Logistics, Public Warehousing JIT Services, Trucking, and Reclaim Service
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324 Duryea Street • Waterloo, IA 50701 Phone: 319-236-0467 • Fax: 319-274-8308 www.wwscusa.com
APRIL 2011
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PAGE 39
Blacks increase share of business ownership By JOSH NELSON josh.nelson@wcfcourier.com
WATERLOO — Iowa and the Cedar Valley mirror a nationwide increase in businesses owned by African-Americans, but those numbers still lag far behind others, the U.S. Census Bureau announced today. The agency compared the level of business owners from 2002 to 2007. In Iowa, the figure was 2,160 businesses in 2007, which represents an increase of about 36 percent, or 581 businesses. While exact data on Black Hawk County and the surrounding area isn’t available, business officials said local trends reflect that rate. “What it tells you is minority business starts is far outpacing all other business activity,” said Maureen Collins-Williams, director of the Regional Business Center at the University of Northern Iowa. The state total represents less than 1 percent of the overall amount of firms and companies in Iowa, according to the Census Bureau. Nationally, black-owned businesses increased to 1.9 million in 2007 — an increase of 60 percent since 2002. “We think there is positive news in terms of the increase of the number of black-owned businesses,” said Mark Morial, president of the National Urban League, in a conference call with reporters. But Morial said a “painstakingly sobering” element of the news follows because many businesses employ few, if any people. And the average business owned by an African-American will take in $72,000 in gross receipts a year, far less than the $490,000 in receipts to a non-minority owned business. The causes behind busi-
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ness startups and receipt totals stem from a number of factors, including access to capital and the average income of consumers where the businesses are situated. Another factor is many of the businesses are either very small or operated on a part-time basis. “It’s hard for women and minor-
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ities in particular when there are cultural constraints to keep them from pursuing that,” Collins-Williams said. Minorities make up about 9 percent of the population in the Cedar Valley. UNI’s business center sees about that same percentage of minority business own-
ers asking for help, according to Collins-Williams. “We really think those numbers need go to up,” she added. The center has helped overcome some of the problems faced by not just minority business owners but many others. That can be accomplished by connecting
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them to services, such as microlending programs, technology or marketing to help expand their businesses. One such tool is the MyEntre. net program that will help entrepreneurs find financing, grants and other help that may not be available in their communities.
Jack Jennings, CCIM
Retail/Office Space
1804-1812 Waterloo Road, Cedar Falls t Sale price $449,500 t Lease rates starting at $8.00/sf NNN t Total building 7,191 sf
t 1804 leased t 1806 & 1812 available +/- 2,800 sf each t Can divide/can combine
Dustin W. Whitehead, CCIM
Medical/Professional Office Building
220 Southbrooke Drive, Waterloo t $12 $12.50/sf 50/ f NNN t $640,000 t 4,697 sf - main level t 4,249 sf - lower level
t EExcellent ll medical di l or professional office building near Covenant Medical Center
Retail Space
2160 Logan Avenue, Waterloo t $18.50/sf t Up to 7,800 sf available t Zoning: C-2 Commercial
t ADT: 12,400 vpd t Excellent visibility t Near Allen Hospital
Brady A. Gruhn, CCIM
Office Building
359 Rock Island Avenue, Waterloo t $1,300/mo Gross t $130,000 t 2,240 sf
t Professional office building t Excellent Cedar Valley location
For information on these and other commercial listings, call:
(319) 277-8000 www.LockardOnline.com
All information contained herein is given by sources deemed reliable. While we have no reason to doubt its accuracy, all information is provided without representation of warranty. WO-032511054
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