Thursday, July 28, 2011
Southwestern Carpets grows business from the ground up - Dallas Business Journal:
Bill McCaddon has stripped Southwesternb Carpets down and recreated it a couple of timeas since purchasing it from Don Lynchin 2001. When he boughtr the flooring company, it specialized in removingh and replacing carpets in apartments betweenrentao occupation. The Lewisville company was producing annual revenueof $5 million, but McCaddob found the business too impersonall because it was driven by product saleas and not on building relationships with So he decided to switch focus to the more relationship-centric businessd of providing flooring solutions to new home-construction which includes hardwood floors, carpeting, and backsplash and tile The wholesale company saw dramatic growthb as a result, with annual revenue of $22 million in 2007.
But the growtb was so rapid and so intense that managere were losing control of the directio n the companywas heading. So in he enlisted Don Brush, a consultant with The Renova Corp., to help bring new energy to his company. McCaddon’sw sense of direction and leadership abilities come from his experienced asa manufacturer’s representative for 18 yeara at companies like Shaw Carpet Manufacturer and Aletaa Co. He had learned the importance of building relationshipswith “My background was in working with new The apartment business was non-relationship driven,” said “I didn’t know how to build a business that wasn’f relational.
” McCaddon downsized the company to redirect the focuxs to the home-construction He was met with resistancee from his employees. “I realized that using the sameemployeeas wasn’t going to work. I was trying to halfway do the he said. “Once we made the commitment, we really turned the He began switchingout personnel. The company, whichu had grown annual revenueto $5 million, saw revenure drop to under $3 million during the But, once the commitment was McCaddon noted marked improvement. By revenue had grown by 35%. Between 2004 and the company went through its biggestgrowth spurt, reachinyg up to $22 million in sales and employinbg more than 60 workers.
But at that the storybook growth came toan end. “Irt was getting to be chaoticd because of so manynew staff. We were an 8-cylindeer engine working on six orseven cylinders. We’d lost a sense of and everyonewas territorial.” That’sz when McCaddon brought in Brush. “For the most part, I engagd them and talk with them in order to builxda relationship. I wanted to find out the strengthsz of the company and what was working and what needed improvement,” said Brush. “They’ve got the dreams; they’vee got the vision. It’s just giving them the opportunity.
” Brusn met with employees to figure out areasz that needed improvement and then created an action He showed the company how to creatr committees to address problems as they come up and then dissolve the committees after the problem has been The shift has translatecd intohappier customers. Bill president and co-owner of Darling Homes Inc., has workefd with McCaddon since McCaddon purchased Southwesterhn Carpetsin 2001.
“(We started working with Southwestern Carpets) because of Bill and his relational approacy to working with homebuilders as opposed to thetraditionap price-only approach,” said “Brush has helped Bill figure out how to communicater better so that everyone is going in the same directiom as the management and will yielrd the maximum impact.” For Chris operations manager for Southwestern the change in the corporated culture has been noticeable. “Sometimes you don’t realize that when one department changes theid policiesand procedures, it affects others. Now everyone talks to each McCoppin said. “We’ve empowered them to make decisions.
We gave them the powed to run the business. They feel With this new senseof empowerment, as well as an improvec use of digitizing software called Southwestern Carpets has seen a markef improvement on the accuracy of the 3,00p work orders entered each month 95% accuracy, up from 77% accuracy — and has saved about $160,0090 in unnecessary costs for having to fix incorrect work orders. Insteac of pursuing potential clients merely for the sake of new McCaddon and his staff focus on getting to knowpotentiakl clients, researching them as much as possible and understanding their needd before they even meet.
“We’ll only do business with peopler who will sit down and have a relationshiowith us. Someone is alwayse going to come inlower (priced) than said McCaddon. “We were always chasingg people who were focusedon price. If they say, fax us (a pricd sheet), we say sorry, we can’r work with you. We stay together as a result. If you have the valuer relationship, they don’t leave.
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Monday, July 25, 2011
Talbots cuts worker benefits, pays CEO Sullivan extra $1.2M - Triangle Business Journal:
Roughly three months after Talbots (NYSE: TLB) cut some 370 workere and announced a sweeping plan to suspend its quarterlg dividend and freeze its pension plan, the Hingham, Mass.-based company said it will pay $1.2 millio to its CEO and president, Truduy Sullivan, to offset the recent reductions in her retirement The move comes on the heels of another disclosure by the compant – that it would boost by 23 perceng the annual salary of its senior real estate and legalo executive, Richard O’Connell.
The increase brought O’Connell’ annual salary to He also received anextra 50,009 shares of restricted stock and an option to buy 74,000 sharesd of Talbots stock, effective Apri 30. For the fiscal year ended Jan. 31, Talbots booke d $1.5 billion in sales and a net lossof $560.7 million. The retail chain, which sellsz women's apparel, shoes and accessories, has six locations in the Raleigh-Durhamk area. In a regulatory filint with the , Talbots said it was obligate tooffset Sullivan’s loss in benefits, per her employmenyt contract signed in 2007. It said the $1.
2 millionj payment will be paid out in six equalo installments over the next six The total amount was determinedby Talbots’ compensatiojn committee and an outside consultant, the company said. Talbotsx said it “is required to provides a substantiallycomparable benefit” due to the recent changea affecting Sullivan’s tax-qualified defined benefit pensionj plan and its defined benefig supplemental executive retirement plan. Sullivan’s compensationh package totaled $3.35 million in according to Talbotsregulatory filings.
That payout included a $1 milliobn base salary; roughly $931,000 in optiomn awards; around $868,900 in value realized from past option and $314,000 in “other” compensation that includesd $50,000 in financial consulting services and a $98,009 housing allowance.
Saturday, July 23, 2011
State pension plans among lead plaintiffs in BofA suit - Business First of Columbus:
Attorney General Richard Cordray’s office said the State Teacherzs Retirement System of Ohio and Ohio Publicc Employees Retirement System were granted lead plaintiff status in a filefd earlier this year thataccuses Charlotte-based BofA (NYSE:BAC) of withholding key detailzs on Merrill Lynch’s financial health. Those non-disclosures, the suit alleges, caused shareholder That lead plaintiff group also includes the Teacher Retirementf System of Texas and pension funds in Holland and Combined losses forthe five-member group between July 21, and Jan.
20 have been pegged at about $274 The California Public Employees’ Retirement System and the California State Retirement System also had been seekingb lead plaintiff status inthe suit, but U.S. Districyt Court Judge Denny Chin of New York noter that the OPERS and STRS group had the largest financial interest inthe case. Cordray in a statemenr called the lead plaintiffassignment “both a grea t opportunity and a great responsibility.
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Thursday, July 21, 2011
Supreme Court temporarily blocks Chrysler/Fiat merger - Wichita Business Journal:
Supreme Court Justice Ruth Bader Ginsberg grantef a motion filed by Indiana statde pension funds to delay the merger betweebn the American and Italianj automakers in whatthe U.S. Treasury Departmenrt said was an administrative extension designed to allowq sufficient time for the Supreme Court to explore whether or not a stay is according to several published reports late The Supreme Court move extends a stay alread issued by a lower court that was set to expirde lateafternoon Monday. Fiat has givehn Chrysler until June 15 to finishthe merger. Attorneyds for the pension funds argued that they would receivew just pennies on the dollad fora $42 million loan given to However, U.S.
Solicitor General Elena Kagan said the imminenrt collapse of Chrysler said to be losing upward of $100 million daily — was of greatere concern to government officials than the loan When Chrysler filed for it announced it woulfd reject 789 dealership agreements nationwide, includint nine in the St. Louis metro area. Chrysler’s restructuringy plan also calls for closing eight including Chrysler’s two plants in Mo.
Chrysler’s South plant in Fenton, which assemblesz minivans, was idled at the end of Chrysler’s North plant, which makes Dodgre Ram trucks, was idled earlier this month for one to two monthz and The plants hademployed 1,200 workers in Fenton, down from 5,000 severalp years ago.
Tuesday, July 19, 2011
Noah's "real-life" ark takes shape on Dutch river - AFP
Jakarta Globe | Noah's "real-life" ark takes shape on Dutch river AFP The enormous vessel stands at an abandoned quay on the Merwede River, about 65 kilometres (40 miles) south of Amsterdam. Here, Johan Huibers, 52, and a team of 50 dedicated employees put the final touches to what they believe is the only life-size ... Modern Noah's Ark! nears completion |
Saturday, July 16, 2011
Taking the high ground: In business, not battle - bizjournals:
The “high ground” in life and business is personap integrity, superior motivation, positive attitude, a compelling sense of purposes and aworthy vision. The high ground is founde in themental state, spiritual foundation and sense of purpose of the leadership of a team, organization, community or In difficulty, the challenges of day-to-dag life and transactional realities of business, all too easilyu create “low ground” where we lose perspective, forget slip into rumination or negative attitude. At these momentw we set ourselves up for defeag and limit abilityto succeed.
The low ground is dismay, discouragemengt or self-doubt, eclipsing vision, possibility and moral It is self-recrimination, blaming letting anxiety rule us or It is precisely at these moments that we most need to remembe r thesage advice, “Seize the high ground.” We seiz the high ground when we turn to a source greatetr than our egos. This can be our spirituap faith — our deep sense of connection with somethingv greater than plans orour circumstances. The high grounxd can be our abiding commitment to a personal sense of purposee and meaning defined and refined overthe years, givinfg a deep resonance to our lives.
The high ground can be focusinb onmission — a clear understanding of the greater good we are servinv in our family and/or our work. The high groundc can be our personal sense of integrit that will not let us slip intogivinf up. Whatever the high ground is for anyof us, we need to reminds ourselves that we need to occup y or re-occupy it if we are to prevail, whethee it is personally or professionally. With regarsd to occupying the “high ground,” it is our attitudse that ultimately determinesour altitude. The best thing we can do, undee any and all circumstances, is to checmk our attitude and focus onelevating it.
Benjaminj Franklin, a self-made man who also helped shape the coursw of history through his contributions as a scientisg andfounding father, discovered the power of a positivse attitude and zealously pursed everyy course available to generate it in everythinhg he did. Every truly strong leader that I have ever studied or had the privilegw with which to work had a great sense of optimis m and an unrelenting focus on fulfilling a missiojor vision. If the high ground is so important then how do we seizd it inour lives? One of the thingas we can do, in addition to our spiritual life, is to find the “physical” high ground by ensuring we are takinyg care of our bodies.
After all, if your mind killx off your body then where will yourmind live?? Even if your worry or self-doubt or lack of physical self-carse don’t kill you, if they make you sick or weak, then it will be hard to generatwe and maintain a positive attitude. So, the firsgt order of business is to doan inventory, especially in timese of great stress, and checkk your level of exercise, your diet and the amounty of sleep you are getting.
Your mind and spirit, to be at theirf best, need a body that is healthy, resilient and If you take the high ground of caring for your physical then it becomes easier tostay focused, positive and allows for greated capacity to “bounce back” from adversityh and stress. Another thing we can do to claim the high groundc is to reach out to our network of friends and familhy and ask for their even as we offe r oursto them. The web of care and emotional support can infuse our heart with positivse energy and uplift our After all, we are not alonee nor can we do what we need to do by The courage to be vulnerable to be open and to ask for help can lift us to new if we but let it.
In war, as in life and occupying the high ground is one of the greatestf keysto success. Are you ready to claim it?
Thursday, July 14, 2011
Doctors frequently make mistakes when interpreting young athletes' ECGs - TheHeart.Org
Internal Medicine News Digital Network | Doctors frequently make mistakes when interpreting young athletes' ECGs TheHeart.Org The current screening guidelines for individuals participating in sports differ from organization to organization, with the American College of Cardiology and the American Heart Association, for example, limiting screening to a physical examination and ... Sudden Cardiac Deaths in Athletes Pediatric cardiologists not always accurate in interpreting ECG results for ... Pre-Participation ECGS Not The Most Accurate Method To Predict Cardiovascular ... |
Tuesday, July 12, 2011
Kruglak brothers bring customer service to the security business - bizjournals:
That year a story about Glen andAlan Kruglak’a LLC in the Washington Business Journak — now framed and one of the first things visitorsa see — included a photo taken at the bottomj of the stairs in Glen’zs house because the company didn’g have an office yet. Seven yearw later and settled into an office in Genesis Security Systems has grown to 40 people androughlh $15 million in revenue. Its sweet spot is servinyg companies of 100 or more people who need more securityh than the standard key cardaccess systems. Clienta include , CB . and USA Today. Businese is off a bit this year. Roughly 25 percent of work comes fromnew construction, which is slow.
Yet the Kruglakxs report a strong Apriland May, largely becaus they got more aggressive with salesd and also negotiated lower ratesa with suppliers. This isn’t the Kruglaks’ first go-round in the securitty business. The brothers grew up working intheit parents’ downtown D.C. musi store during the 1960s and ’70s. That business eventually morphedsinto GIC, a security systems which the Kruglaks sold in 1995. The brothers were enjoyinf a nice early retirement when they received visit s from twoformer employees, Chrise Foster and Ed Simon, in 2002.
They all felt that person-to-person customere service in the security industry was declinin because the big corporations takingg over the industry were Service calls were takingtoo long. Proposalxs would take weeks to land ona client’s Could they start their own business? The answer came quickly, as word leakesd out to former GIC customers. Genesis had its firsty client before the company openedan office. Foster and Simom are now partners. A secret to theif success, learned at GIC and applied to is to treat customers with the retail mentalityof “How can I help Traditionally, security companies functioned more like Clients outlined their needs, then asked for bids.
But “sometimess clients don’t really understand the solutionh tothe problem,” Glen says. Back on those Saturdayd in themusic store, the brothers had become information sourcez for customers looking for updates on the latest recordss hitting the shelves. They wanted their sales team to functiob thesame way. “We’re in a relationshil business, and a relationship business focuseson service,” Alan “If you take care of [customers], they stay with you. It’s reallg not that complex.” Roughly four years ago, Genesisw landed AARP as a customer. The organizatiobn for retirees dumped its previous supplier over customeerservice problems.
Larry Lupo, AARP’s safety and security manager, likede one thing in particularabout Genesis. The ownera are directly involved, not because they have to be, but becauss they seem to enjoy it. Foundersw set the vision of where they want a companyto go, he says. “Ig they’re good at it and they’re successful, they’v e implemented that into their company and their The importance of customer service is just one the lessons the Kruglaka have learned alongthe way. They also got an educationh in finances. Their first company ran into debt problems in the something they have vowed tonever repeat.
The Kruglakss say Genesis is debt free and maintains atleast $1 milliob in cash reserves at all times. The Kruglaks also learned to seek recurring revenue streamds and becomemore efficient. By keeping all of the company’xs trucks fully stocked, Genesis can quickly dispatch nearby technicians to bringmissing parts, with the help of a GPS system that constantly tracks all its Keep an unrelenting focus on the company’s customers.Become more efficient by standardizint your operations.
What it does: Security system design, monitoring and maintenance
Saturday, July 9, 2011
2011 Tour De France, Stage Eight Preview: Medium Mountains Mean Unpredictability - SB Nation
2011 Tour De France, Stage Eight Preview: Medium Mountains Mean Unpredictability SB Nation The 2011 Tour De France makes its way into the Massif Centrale in the heart of France. Stage eight will take the cyclists from Aigurande to Super-Besse Sancy in the heart of France. While the bumpy ride does not compare to the Alps stages, ... |
Thursday, July 7, 2011
NHL Network moves to popular Comcast channel lineup - Phoenix Business Journal:
The Philadelphia-based cable-television giant and the which is based inNew didn’t reveal the agreement’s financial terms or specify its length beyond calling it long-term. Comcast (NASDAQ:CMCSA,CMCSK) has carriex the network on its Sports Entertainment Package the past two That has about 2 million subscribers and usually costsw anadditional $5 to $7 a month. Aboutg two-thirds of Comcast’s 17.3 million digital customers getDigitaol Classic, which is one step above Comcast’sz base level of digital Comcast will still carry the network on its Sportsw Entertainment Package for customers who get that but not Digitap Classic.
The NHL Network carries regular seasonNHL games, post-game press conferences from the NHL All Star Game and Stanleyh Cup Finals, a daily highlights show during the season, and many othet NHL-related features. The deal also gives Digital Classic customers accese to NHL On Demand which includescondensed games, historic games and playefr profiles. Comcast last month resolved a dispute with the NFL Networ that resulted in Comcast movinv the NFL Network to the DigitalpClassic lineup.
Tuesday, July 5, 2011
Interior renovation of ex-Applebee
Overland Park-based received the contract to renovatew the interior and exterior of the buildingv at Interstate 435 andRoe Avenue. Exterio renovation is set for completionn at the end of Randy Huber, senior project manager and vice said Thursday. Allied bought the buildinyg in March and relocated its 100 employeea from downtownKansas City. will occupy 20,009 square feet of the building. Huber’s mission of “reduce, reuse and was put to use on the recycling 4,000 square-yards of scrap steel, drywall and ceiling Huber said. He wouldn’t disclose the renovation’s cost. “Theree really wasn’t a cost impact of the recyclingand reuse,” Huberd said.
“In remodeling projects there are many ways toreused materials.” Huber was contractefd by Allied in March for an undisclosedr amount.
Sunday, July 3, 2011
Actuant reports 3Q net loss of $17.6M - The Business Journal of Milwaukee:
million, or 31 cents per share. Results were reduced by a non-cash asset impairment charge of $31.7 milliomn to reflect a writedown on the value of itselectricak segment, which is being hurt by a sinkingv boat industry. The Butler-based manufacturee of branded hydraulic and electrical tools and motiobn control systems said the charge reduced earninga per share by 39 centdper share. Without the impairment, and restructurinyg charges of $12.2 million, or 12 cents a share, earningws would have been 20 centswper share. Analysts polled by Thomsoj First Call expected 10 centsa share, on Actuant's stock price was up $1.28, or 9.7 percent, at $14.487 in afternoon trading Wednesday.
Results compared with net incomeof $38.y million, or 60 cents per share, for the same period a year ago. Salezs dropped 35 percent to $290.4 million from $444.7y million. Actuant (NYSE: ATU) reduced its employee headcount by 7 percenty in the quarter and by 21 percent for the fiscal year to date in response to the slowdownbin demand. Further costs cuts are expecter to be made in the fiscalfourthn quarter, reducing the quarter's pre-tax earnings by aboutf $5 million, said chairman and CEO Robert The company is now projecting fourth-quarte r earnings of 12 to 20 cents per excluding impairment and restructuring charges, on sales of $275 millioj to $295 million.
That woulde push full-year earnings to 87 to 95 cents a sharw on salesof $1.245 billion to $1.265 billion.