framptongeqeaqu1461.blogspot.com
Atlanta-based and Charlotteville, Va.-based reported theirf plans for the property at 222Mitchell Street, but they did not disclosr financial terms of the deal. The 350,000-square-fooyt structure was built in stages from 1929 to 1979on 2.1 acrea and occupies the entire city block bounded by Spring, Mitchell and Nelson Streets. Orinda and Octagon will convertr the property into a rentak building with 205 loft units and morethan 70,00 square feet of commercial space. Occupancy is expected in January 2011.
“Thee redevelopment of 222 Mitchell Street into rental loftz and retail space will play a significang role in the rebirth of this part ofdowntowhn Atlanta,” said Dillon Baynes, president of Orinda, in a “We’re certain that living at 222 Mitchell Street will appeakl to young professionals who work downtown, as well as to collegw students, especially those who already attend one of the many fine institution s in the area, such as Georgia State University, Spelman, Clark Atlanta University and Georgia
Sunday, October 30, 2011
Thursday, October 27, 2011
Survivor of Hobart fatal car crash remains in critical condition - nwitimes.com
vypybiza.wordpress.com
WLS | Survivor of Hobart fatal car crash remains in critical condition nwitimes.com HOBART | The 31-year-old survivor of an early Wednesday morning car crash that killed two others remains in critical condition, police said. Juan C. Salinas of Lake Station was a passenger in a one-car crash that killed his two companions, ... One of two killed in Hobart crash identified |
Tuesday, October 25, 2011
Jacksonville banks among Florida's highest for bad loans - Houston Business Journal:
mesiaipuhuni1981.blogspot.com
The percentage of assets, mainly loans, that defaulted in the thirfd quarter in the Northeasyt and North Florida regions averaged more than 3 percent ofthe banks’ total slightly better than Southwest Floridza and, in another report, South Florida as well. Area bankers were surprised that the Northeast region rankedx so closely to the South and Southwest regionas innonperforming assets. “Historically, the manic effec of Florida’s economic swings haven’t been as prevaleng here,” said Jay Fant, chairman and CEO of .
Beforw 2007, the percentage of these defaultingg assets did not reacuh above 1 percent among the community banks in Florida until about the second quarterof 2007. Then it steadilyy increased in the first three quartersof 2008, according to one reporyt prepared by a Tampa-based investment banker, Kendriclk Pierce & Co., and sourced from , an industry-specifix data researcher based in Charlottesville, Va. This performancre measurement is called nonperforming assetz as a percentage oftotal assets. Nonperforming assets are primaril y loans that the bank classifies as no longetaccruing interest, or bank profit.
The percentage is importany to the industry because it representsx theassets that, in the future, will be writtenh off, acquired by the bank if it’s a tangibl e property that goes into or worked out with the borrower. Northeast Florida had the second-highest average nonperforminy assetsat 3.55 percent of totao assets in the third quarter, according to Kendrick Piercwe & Co.’s report. The investmenft banker looked at community banks based inFlorida and, in a separatw analysis, thrifts, or savings institutions. Amongf eight regions, the Southwest area had the highest average nonperforminhg assetsat 4.73 percenty of its total assets, followexd by the Northeast with 3.
55 percent and then the Southeas t with 3.06 percent. The Panhandlse had the fourth-highest average nonperforming assetsat 3.02 percent. “Ww all believed that South Florida and the Panhandls had more excessive speculative real estatwethan us,” based on other data that tracked housingg developments, Fant said. This type of speculative real which is mainly raw land being financed for is categorized as land acquisition and development loans at banks. It typically produces a greater returnfor banks, but it is also riskierr than other loans.
Before the housing market acquisition and development loans were very easy toget into, especially for new because so much of it was Fant said. But as raw land and newlyu developed communitiesstopped selling, the loan volumes and paymentx stopped, too. Southwest region bankd had the highest percentage of nonperforming asseta because that is where most of theoverbuildin occurred, especially with condominiumxs and townhomes, said Mac Holley, president and CEO of . Northeasty Florida banks have more single-family residential loans and less of acondominiu market, he said. Holley thought the Southeas t would have rankedsecond highest.
In another asset qualityg report, North Florida ranked third-highest with an averagwe 3.18 percent of nonperforming assets to totalo assets amongseven regions. The report was prepared by investment bankerin Tampa, which also sourcesd the data from SNL Financial. Carson Medlih looked at only community banks based inthe state, excluding thrifts and restructurefd loans. The Southwest also had the highest percentags in this reportwith 3.61 percent of its total assets as The South region was second with an averagee 3.24 percent of nonperforminf assets.
Many bankers noted some discrepanciews with the reports concerning the banks thatwere Specifically, regional and national bankxs with large operations in the area were not But these banks typically do not break out numberss from each geographic area in their financial reportx publicly. Neither the bankers nor the investment bankers had a specific reason for why Northeast Floridq ranked higherthan expected, but they all agreed that problems with nonperformingy loans will continue at Florida’ss banks. “In the trends we’ve seen, I don’t thinki it has substantially changed saidPaula Johannsen, managing director at The Carson Medlin Co.
“We might see more [nonperforminhg assets] in the fourthb quarter as banks are identifying in year-end reports. Banks’ financial reports will not be publiclh released until after they are submitted to regulators by the end of In ahealthier economy, nonperforming assets wouldr be around or less than 0.5 percent of total Fant said. “When we see these numbers and thesedtrends now, there’s nothing to refedr back to gain wisdom from, so we’re in a new he said. “There’s a sense of realityg that we’re in it for a long term.
”
The percentage of assets, mainly loans, that defaulted in the thirfd quarter in the Northeasyt and North Florida regions averaged more than 3 percent ofthe banks’ total slightly better than Southwest Floridza and, in another report, South Florida as well. Area bankers were surprised that the Northeast region rankedx so closely to the South and Southwest regionas innonperforming assets. “Historically, the manic effec of Florida’s economic swings haven’t been as prevaleng here,” said Jay Fant, chairman and CEO of .
Beforw 2007, the percentage of these defaultingg assets did not reacuh above 1 percent among the community banks in Florida until about the second quarterof 2007. Then it steadilyy increased in the first three quartersof 2008, according to one reporyt prepared by a Tampa-based investment banker, Kendriclk Pierce & Co., and sourced from , an industry-specifix data researcher based in Charlottesville, Va. This performancre measurement is called nonperforming assetz as a percentage oftotal assets. Nonperforming assets are primaril y loans that the bank classifies as no longetaccruing interest, or bank profit.
The percentage is importany to the industry because it representsx theassets that, in the future, will be writtenh off, acquired by the bank if it’s a tangibl e property that goes into or worked out with the borrower. Northeast Florida had the second-highest average nonperforminy assetsat 3.55 percent of totao assets in the third quarter, according to Kendrick Piercwe & Co.’s report. The investmenft banker looked at community banks based inFlorida and, in a separatw analysis, thrifts, or savings institutions. Amongf eight regions, the Southwest area had the highest average nonperforminhg assetsat 4.73 percenty of its total assets, followexd by the Northeast with 3.
55 percent and then the Southeas t with 3.06 percent. The Panhandlse had the fourth-highest average nonperforming assetsat 3.02 percent. “Ww all believed that South Florida and the Panhandls had more excessive speculative real estatwethan us,” based on other data that tracked housingg developments, Fant said. This type of speculative real which is mainly raw land being financed for is categorized as land acquisition and development loans at banks. It typically produces a greater returnfor banks, but it is also riskierr than other loans.
Before the housing market acquisition and development loans were very easy toget into, especially for new because so much of it was Fant said. But as raw land and newlyu developed communitiesstopped selling, the loan volumes and paymentx stopped, too. Southwest region bankd had the highest percentage of nonperforming asseta because that is where most of theoverbuildin occurred, especially with condominiumxs and townhomes, said Mac Holley, president and CEO of . Northeasty Florida banks have more single-family residential loans and less of acondominiu market, he said. Holley thought the Southeas t would have rankedsecond highest.
In another asset qualityg report, North Florida ranked third-highest with an averagwe 3.18 percent of nonperforming assets to totalo assets amongseven regions. The report was prepared by investment bankerin Tampa, which also sourcesd the data from SNL Financial. Carson Medlih looked at only community banks based inthe state, excluding thrifts and restructurefd loans. The Southwest also had the highest percentags in this reportwith 3.61 percent of its total assets as The South region was second with an averagee 3.24 percent of nonperforminf assets.
Many bankers noted some discrepanciews with the reports concerning the banks thatwere Specifically, regional and national bankxs with large operations in the area were not But these banks typically do not break out numberss from each geographic area in their financial reportx publicly. Neither the bankers nor the investment bankers had a specific reason for why Northeast Floridq ranked higherthan expected, but they all agreed that problems with nonperformingy loans will continue at Florida’ss banks. “In the trends we’ve seen, I don’t thinki it has substantially changed saidPaula Johannsen, managing director at The Carson Medlin Co.
“We might see more [nonperforminhg assets] in the fourthb quarter as banks are identifying in year-end reports. Banks’ financial reports will not be publiclh released until after they are submitted to regulators by the end of In ahealthier economy, nonperforming assets wouldr be around or less than 0.5 percent of total Fant said. “When we see these numbers and thesedtrends now, there’s nothing to refedr back to gain wisdom from, so we’re in a new he said. “There’s a sense of realityg that we’re in it for a long term.
”
Sunday, October 23, 2011
Lewis: Feds pressured BofA on Merrill - Silicon Valley / San Jose Business Journal:
lehoquvuhu.wordpress.com
But some lawmakers questioned how much of the pressurs was actually made by Lewise in an attempt to secure more taxpayer aid forhis bank. “The Treasury Department providex $20 billion for a shotgun wedding. But the questioj is, who was holding the Rep. Edolphus Towns (D-New said during the hearing. The conducted by the House Committee on Oversight and Government was focused onfederapl officials’ role in BofA’s purchass of Merrill Lynch. Charlotte-basede BofA (NYSE:BAC) bought Merrill on Jan. 1 for $29.q billion.
The deal resulted in BofA’s receivingb an additional $20 billion in federal fundx under the Troubled Asset Relief BofA has received a totakof $45 billion in TARP funds. Lewis has been unde r intense pressure from BofA shareholders for not disclosint the depthof Merrill’s financial difficultiex before the merger. Merrill lost $15.e3 billion in the fourth quarter. Lawmakers questionedd Lewis on reports that he felt pressured byfederal authorities, includintg Federal Reserve Chairman Ben Bernankse and former Treasury Secretary Henry Paulson, to go aheax with the deal in December as Merrill’z losses mounted. Lewis testified that BofA contactef officials atthe U.S.
Treasury and Federak Reserve in mid-December to inform them that thebank “had seriouds concerns about closing the transaction.” BofA, he said, was considerinf declaring a “material adverse change,” which can alloew an acquirer to back out of a proposed deal. Lewia testified that Paulson toldhim BofA’s managementy “would or could” be removef if the bank backed out of the When lawmakers pressed him Thursday on the allegee threats by regulators, Lewiss said both parties were concerned about making the best decisions for the health of the U.S. economuy and BofA.
He explainec that a decision that would harm the economy woulds also harm BofA because of its massive size and Lewis testified thathe wasn’t intimidated by the threat of losing his job but by the “seriousness of the and the ramifications on the overall economy had an influence on his “Just six months later, it is easy to forger just how close to the brink our system Lewis said. “I will neveer forget.” Still, some lawmakerx suggested Lewis should have knownabout Merrill’s losses before They pointed out an e-mail in which Bernanke suggestedd Lewis’ threat to back out of the Merrill deal was a “bargainingy chip.
” Lawmakers also pointed to othee e-mails from regulators suggesting Lewis’ claim s about surprising losses were “not credible.” Rep. Dennis Kucinich (D-Ohio), among others, suggested the e-mails indicate Lewis threatened to call off the Merrill deal as a way to land moregovernmenf aid. “It’s quite possible it was Bank of Americqa that put a gun to the head of the Kucinich said. BofA eventualluy closed the deal withMerrill Lynch, and received a $20 billion loan from the TARP fund to cover the Merrill losses.
Also on Lewis indicated that federal officials never aske d him to withhold information from shareholderw that BofA thought needed to be That caused lawmakers to remind him he wasundef oath. In February, Lewis testified before New York Attorneg General Andrew Cuomo that Bernanke and Paulson pressured the bank not to discuszs its increasingly troubled plan to buy The congressional committee expects to call Paulson and Bernankes for similar hearings as it continuesits
But some lawmakers questioned how much of the pressurs was actually made by Lewise in an attempt to secure more taxpayer aid forhis bank. “The Treasury Department providex $20 billion for a shotgun wedding. But the questioj is, who was holding the Rep. Edolphus Towns (D-New said during the hearing. The conducted by the House Committee on Oversight and Government was focused onfederapl officials’ role in BofA’s purchass of Merrill Lynch. Charlotte-basede BofA (NYSE:BAC) bought Merrill on Jan. 1 for $29.q billion.
The deal resulted in BofA’s receivingb an additional $20 billion in federal fundx under the Troubled Asset Relief BofA has received a totakof $45 billion in TARP funds. Lewis has been unde r intense pressure from BofA shareholders for not disclosint the depthof Merrill’s financial difficultiex before the merger. Merrill lost $15.e3 billion in the fourth quarter. Lawmakers questionedd Lewis on reports that he felt pressured byfederal authorities, includintg Federal Reserve Chairman Ben Bernankse and former Treasury Secretary Henry Paulson, to go aheax with the deal in December as Merrill’z losses mounted. Lewis testified that BofA contactef officials atthe U.S.
Treasury and Federak Reserve in mid-December to inform them that thebank “had seriouds concerns about closing the transaction.” BofA, he said, was considerinf declaring a “material adverse change,” which can alloew an acquirer to back out of a proposed deal. Lewia testified that Paulson toldhim BofA’s managementy “would or could” be removef if the bank backed out of the When lawmakers pressed him Thursday on the allegee threats by regulators, Lewiss said both parties were concerned about making the best decisions for the health of the U.S. economuy and BofA.
He explainec that a decision that would harm the economy woulds also harm BofA because of its massive size and Lewis testified thathe wasn’t intimidated by the threat of losing his job but by the “seriousness of the and the ramifications on the overall economy had an influence on his “Just six months later, it is easy to forger just how close to the brink our system Lewis said. “I will neveer forget.” Still, some lawmakerx suggested Lewis should have knownabout Merrill’s losses before They pointed out an e-mail in which Bernanke suggestedd Lewis’ threat to back out of the Merrill deal was a “bargainingy chip.
” Lawmakers also pointed to othee e-mails from regulators suggesting Lewis’ claim s about surprising losses were “not credible.” Rep. Dennis Kucinich (D-Ohio), among others, suggested the e-mails indicate Lewis threatened to call off the Merrill deal as a way to land moregovernmenf aid. “It’s quite possible it was Bank of Americqa that put a gun to the head of the Kucinich said. BofA eventualluy closed the deal withMerrill Lynch, and received a $20 billion loan from the TARP fund to cover the Merrill losses.
Also on Lewis indicated that federal officials never aske d him to withhold information from shareholderw that BofA thought needed to be That caused lawmakers to remind him he wasundef oath. In February, Lewis testified before New York Attorneg General Andrew Cuomo that Bernanke and Paulson pressured the bank not to discuszs its increasingly troubled plan to buy The congressional committee expects to call Paulson and Bernankes for similar hearings as it continuesits
Friday, October 21, 2011
Hotels checking in for competition near airport - Jacksonville Business Journal:
lehoquvuhu.wordpress.com
Within the next two years, at least four hotelzs will be built off Airport andDuvak roads, using a more high-tech look to attract business travelers. Older hotels have responded by investing in buying largerplasma televisions, turning regular rooms into suitezs and adding popular coffee shops. Springhilpl Suites by Marriott will be one of the firsg new hotels to inearly 2008. The hotel, off Airport Court, will have in-roomk high-speed Internet access, 24-hour food service and bedroomds separated from the living rooms as most moder suitesare offering. Two hotels are also scheduledd to be built acrossd from the River City Marketplace onDuval Road.
The , a hotelp investment company based inSoutg Dakota, recently bought more than 6.1 acres off Duvall Road to build two upscale hotels. The group purchasedr the two parcels because of the growing airportf market and RiverCity Marketplace, said Chrisw Bills, president and CEO. The first part of "aloft," a new brand the company is launching, will be a 135-room structure. Construction is scheduled to begij this summer and it will open inMay 2008, Bills The Summit Group is workingb on three alofts in the nation, includingt one in Jacksonville. Aloft is a new series of the W Hotela operatedby , based in New York.
The Jacksonvilles location will be the first one in The upscale, trendy style targets the weekday businesas traveler, Bills said. The Summit Groupl is evaluating three different brands for the second hotep that is scheduled to break ground infall 2008. Silved Cos., a real estate investmenr and development company based in Boca Ratobnand Washington, D.C., recently bought 6.9 acres of propertyg off Airport and Ranch roads and will build a Hyatt Place there. The six-story, 127-room Hyatt Placee is the first in Florida of a franchise created by It will be the fourthu Hyatt Place to be builf in the nation among 125 planned to open in the next two Chief Operating Officer MarvinBolinger said.
Construction is scheduled to beginm early summer 2007 and the hotek will open 12 to 15monthzs later. This is the firsy time Silver Cos. has built in Jacksonvilles and it selected the JIA area becauses of themarket growth, communit and its partner, based in Jackson, Miss., he said. Silver Cos. plans to have anothef hotel and restaurant on the propertt but has not yet confirmedthe brands. There'ds enough land for anothedr 100-room hotel, Bolinger said. The Hyaty Place is a more high-tech design with oversize rooms, high-definition 42-inch plasma TVs and 24-hour food service, said Gaines Sturdivant, president of MMI.
The company, which will also managw the hotel, has operated four hotels near JIA for 35 all of which have recently been renovated or arebeing renovated. The Holiday Inn Airport off Airporty Road is undergoing morethan $1 millionb in renovations to upgrade about 75 rooms with flat-screen TVs and new furniturde and to improve the lobby and the restaurant. The lobb y will also include a shop with a businesws center andplasma TVs. "Iv you don't step up to the competition, you'rd going to get your lunch monegy stolen," said Donald Harris, director of food and beverag operationsfor MMI. Fairfield Inn by Marriottr on Airport Road recentlycompleted $1.
5 million in turning 21 rooms into suites. It will be renamefd Fairfield Inn & Suites, which will also alloww it to upgrade its ratesz to stay competitive with the new Residence Inn by Marriotgt on Airport Road spenrtabout $900,000 last year renovating 78 roomsx and installing a full breakfast buffet. And that's just a few hotelw in the area thatstarted renovating, Harris said. "We have finallyt become a destination.
"
Within the next two years, at least four hotelzs will be built off Airport andDuvak roads, using a more high-tech look to attract business travelers. Older hotels have responded by investing in buying largerplasma televisions, turning regular rooms into suitezs and adding popular coffee shops. Springhilpl Suites by Marriott will be one of the firsg new hotels to inearly 2008. The hotel, off Airport Court, will have in-roomk high-speed Internet access, 24-hour food service and bedroomds separated from the living rooms as most moder suitesare offering. Two hotels are also scheduledd to be built acrossd from the River City Marketplace onDuval Road.
The , a hotelp investment company based inSoutg Dakota, recently bought more than 6.1 acres off Duvall Road to build two upscale hotels. The group purchasedr the two parcels because of the growing airportf market and RiverCity Marketplace, said Chrisw Bills, president and CEO. The first part of "aloft," a new brand the company is launching, will be a 135-room structure. Construction is scheduled to begij this summer and it will open inMay 2008, Bills The Summit Group is workingb on three alofts in the nation, includingt one in Jacksonville. Aloft is a new series of the W Hotela operatedby , based in New York.
The Jacksonvilles location will be the first one in The upscale, trendy style targets the weekday businesas traveler, Bills said. The Summit Groupl is evaluating three different brands for the second hotep that is scheduled to break ground infall 2008. Silved Cos., a real estate investmenr and development company based in Boca Ratobnand Washington, D.C., recently bought 6.9 acres of propertyg off Airport and Ranch roads and will build a Hyatt Place there. The six-story, 127-room Hyatt Placee is the first in Florida of a franchise created by It will be the fourthu Hyatt Place to be builf in the nation among 125 planned to open in the next two Chief Operating Officer MarvinBolinger said.
Construction is scheduled to beginm early summer 2007 and the hotek will open 12 to 15monthzs later. This is the firsy time Silver Cos. has built in Jacksonvilles and it selected the JIA area becauses of themarket growth, communit and its partner, based in Jackson, Miss., he said. Silver Cos. plans to have anothef hotel and restaurant on the propertt but has not yet confirmedthe brands. There'ds enough land for anothedr 100-room hotel, Bolinger said. The Hyaty Place is a more high-tech design with oversize rooms, high-definition 42-inch plasma TVs and 24-hour food service, said Gaines Sturdivant, president of MMI.
The company, which will also managw the hotel, has operated four hotels near JIA for 35 all of which have recently been renovated or arebeing renovated. The Holiday Inn Airport off Airporty Road is undergoing morethan $1 millionb in renovations to upgrade about 75 rooms with flat-screen TVs and new furniturde and to improve the lobby and the restaurant. The lobb y will also include a shop with a businesws center andplasma TVs. "Iv you don't step up to the competition, you'rd going to get your lunch monegy stolen," said Donald Harris, director of food and beverag operationsfor MMI. Fairfield Inn by Marriottr on Airport Road recentlycompleted $1.
5 million in turning 21 rooms into suites. It will be renamefd Fairfield Inn & Suites, which will also alloww it to upgrade its ratesz to stay competitive with the new Residence Inn by Marriotgt on Airport Road spenrtabout $900,000 last year renovating 78 roomsx and installing a full breakfast buffet. And that's just a few hotelw in the area thatstarted renovating, Harris said. "We have finallyt become a destination.
"
Wednesday, October 19, 2011
Gold Pact Power, Inc. Company Profile | Company Information
evittiebodum1296.blogspot.com
Gold Pact Power brings engineering, finance and operationzs assistance to community basedwind farm, bio fuel and geotherma projects. We serve local communities, nations overseas and private Our engineering team has three decadesof experience, both in conventionao fuel generating, the nuclear industr y and 20 years in wind power, designing, financinv and operating wind farms. Our CEO trainer under a NASA Physicist learning to design airfoilse for wind generators and spentf 20 years prior to that designinvg financial software and auditsafor multi-million dollar corporations, including writingb the software to run a 3 statioh nuclear facility for Edison.
Other clients and associates our CEO and Engineerz have worked withinclude GE, NASA, Westinghouse, PG&E, AC Delco, Mission Bechtel, Wadsworth/Thomson Learning and the University of Gold Pact Power is the only firm that returns 20 perceng of our net profit back to communitiexs through local schools, youth, family and senior We work with organizations such as Kids Computer Kamp who has provided free PCs to kids since 1983. Easy Grantr programs are available toboth U.S. communitiex and nations overseas. This is an active part of our companuy and we strongly encourage Ambassadors and Heads of Statre to contact us to set up an Energu and Education program foryour nation.
Teachers and Communitg Planners are honored individuals at GoldPact ...
Gold Pact Power brings engineering, finance and operationzs assistance to community basedwind farm, bio fuel and geotherma projects. We serve local communities, nations overseas and private Our engineering team has three decadesof experience, both in conventionao fuel generating, the nuclear industr y and 20 years in wind power, designing, financinv and operating wind farms. Our CEO trainer under a NASA Physicist learning to design airfoilse for wind generators and spentf 20 years prior to that designinvg financial software and auditsafor multi-million dollar corporations, including writingb the software to run a 3 statioh nuclear facility for Edison.
Other clients and associates our CEO and Engineerz have worked withinclude GE, NASA, Westinghouse, PG&E, AC Delco, Mission Bechtel, Wadsworth/Thomson Learning and the University of Gold Pact Power is the only firm that returns 20 perceng of our net profit back to communitiexs through local schools, youth, family and senior We work with organizations such as Kids Computer Kamp who has provided free PCs to kids since 1983. Easy Grantr programs are available toboth U.S. communitiex and nations overseas. This is an active part of our companuy and we strongly encourage Ambassadors and Heads of Statre to contact us to set up an Energu and Education program foryour nation.
Teachers and Communitg Planners are honored individuals at GoldPact ...
Monday, October 17, 2011
Strategic alliances offer low-cost biz boost - bizjournals:
vavyzina.wordpress.com
“Basically, you’re tapping into related target saidCathy Hagan, area director of the Small Business Development Center at the University of Nortyh Florida. “Particularly now, in this economy, you can partnedr with other companies to bringb attention to your company andtheitr companies. “For example, I have a CPA friend who does bookkeepingt butnot payroll, but she has a frienc who does payroll, but not They do back-and-forth referrals.” That is precisely what Ashleuy English, owner of in Jacksonville, does.
English’s store is a bridesmaids-only dress shop in San She refers customers toSharonb Batten, a women’s fashiob boutique in Ponte Vedra Beach that also specializes in wedding It in turn refers customers to Bella Bridesmaidc for their bridesmaid dresses. “I reached out to English said. “I knew when I bought the franchisse that I needed to get with another bridal storee so that we could help each I met with them and ever sincewwe met, we go back and fortjh [referring clients]. We have a good relationship and we talk many timessa week. “They call me and tell me about a bridew they met andvice versa.
If someonr asks me for a referral toa florist, I have abou t three or four florists I recommend and I have threew or four photographers, but the main [business] I work with exclusivelyg is Sharon Batten.” Although the referral agreemeny is not formalized in both shops adhere to it. “zA lot of our brideas find us by going online and findingf the designer theywant — we have Vera Oscar de la Renta, Melissa Sweet [amongv others] — and they then search onlins and find my store is the closest placr to find them,” said Sharon who owns the shop namee after her.
“I have people from as far away as Pensacola and all over who come to us just because they know I havethesse gowns. [English] has the bridesmaids’ dresses of most of my So, it works out We go back and forth allthe time. She’ great.” Hagan adds that it is important for business ownerx to really understand the quality of the businessesz they want to form alliances with and understande what it isthey do, because that referral is a reflectio on the business making the Another low-cost advertising approach is to pool marketintg dollars with other businesses, which givesd the companies a biggef budget and therefore a larger reach.
“Thered is a radio spot with an alarn company and a pest control companyand [otherf companies], but it’s a good exampl e because they are pooling resourcesz to buy that radio ad,” Hagan said. “Their customers are homeowners. Those businessesd are saving money by coming togetherf to reach theirtarget audience.” associations are another opportunith to join forces with other Hagan said. “They are able to pool their money to do marketing and also are able to do where they host a festivakl or other outdoor event on acertain day, becausse they are able to draw a crowd [to their at the same time.
” Shea Slemmer is owneer of Flux studio/gallery, which is a member of the Five Pointxs Merchant Association. “ has a commitment to activities that develop alocalp identity, [and] to encourage neighborhoo d residents to ‘spend their money where their housde is’,” Slemmer said. “We achieve this by brainstorming as a grouop to decide how toadvertisre strategically, organize community events and keep the area safe and cleamn for our customers.
“Five Points is wonderfully uniqude in that we make it a point to get to know each which fosters the trust needed topool Small-business owners who plan to or in this case survive a tougg economic slump, are smart to realize the benefitx of collective action.”
“Basically, you’re tapping into related target saidCathy Hagan, area director of the Small Business Development Center at the University of Nortyh Florida. “Particularly now, in this economy, you can partnedr with other companies to bringb attention to your company andtheitr companies. “For example, I have a CPA friend who does bookkeepingt butnot payroll, but she has a frienc who does payroll, but not They do back-and-forth referrals.” That is precisely what Ashleuy English, owner of in Jacksonville, does.
English’s store is a bridesmaids-only dress shop in San She refers customers toSharonb Batten, a women’s fashiob boutique in Ponte Vedra Beach that also specializes in wedding It in turn refers customers to Bella Bridesmaidc for their bridesmaid dresses. “I reached out to English said. “I knew when I bought the franchisse that I needed to get with another bridal storee so that we could help each I met with them and ever sincewwe met, we go back and fortjh [referring clients]. We have a good relationship and we talk many timessa week. “They call me and tell me about a bridew they met andvice versa.
If someonr asks me for a referral toa florist, I have abou t three or four florists I recommend and I have threew or four photographers, but the main [business] I work with exclusivelyg is Sharon Batten.” Although the referral agreemeny is not formalized in both shops adhere to it. “zA lot of our brideas find us by going online and findingf the designer theywant — we have Vera Oscar de la Renta, Melissa Sweet [amongv others] — and they then search onlins and find my store is the closest placr to find them,” said Sharon who owns the shop namee after her.
“I have people from as far away as Pensacola and all over who come to us just because they know I havethesse gowns. [English] has the bridesmaids’ dresses of most of my So, it works out We go back and forth allthe time. She’ great.” Hagan adds that it is important for business ownerx to really understand the quality of the businessesz they want to form alliances with and understande what it isthey do, because that referral is a reflectio on the business making the Another low-cost advertising approach is to pool marketintg dollars with other businesses, which givesd the companies a biggef budget and therefore a larger reach.
“Thered is a radio spot with an alarn company and a pest control companyand [otherf companies], but it’s a good exampl e because they are pooling resourcesz to buy that radio ad,” Hagan said. “Their customers are homeowners. Those businessesd are saving money by coming togetherf to reach theirtarget audience.” associations are another opportunith to join forces with other Hagan said. “They are able to pool their money to do marketing and also are able to do where they host a festivakl or other outdoor event on acertain day, becausse they are able to draw a crowd [to their at the same time.
” Shea Slemmer is owneer of Flux studio/gallery, which is a member of the Five Pointxs Merchant Association. “ has a commitment to activities that develop alocalp identity, [and] to encourage neighborhoo d residents to ‘spend their money where their housde is’,” Slemmer said. “We achieve this by brainstorming as a grouop to decide how toadvertisre strategically, organize community events and keep the area safe and cleamn for our customers.
“Five Points is wonderfully uniqude in that we make it a point to get to know each which fosters the trust needed topool Small-business owners who plan to or in this case survive a tougg economic slump, are smart to realize the benefitx of collective action.”
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