Is brisk growth in online trading hurting brokers? By Sarah G. McC. Moïse Jim Smith, manager of ambulatory care information services at MUSC, started e-trading 10 years ago, soon after discount broker Charles Schwab began offering the online service. “It’s easier. In your thought process of buying a stock, one thing you can eliminate is calling the broker. And it’s probably 40 to 50 percent less expensive,” Smith says.
Health care costs, poor state health threaten S.C. businesses By Dennis Quick In a state that leads the nation in deaths from stroke, is third in the nation in deaths from heart disease, is ranked 48th among states with the unhealthiest populations (of which nearly a fifth have no health insurance), South Carolina businesses face a threat to their most valuable resource—people.
QUICK NOTES: Local school building program should study Greenville’s By Dennis Quick Building boost. The Charleston County School District’s $61 million budget shortfall in its facilities program is an expensive lesson on how not to do business.
The school district set the budget for its 2000–2004 construction program at $429.1 million. Somehow, furniture, technology, security and other essentials did not get factored into the budget, accounting for the $61 million calamity.
Resources for non-tech startups plentiful but hard to find By Tiffany Jonas It’s the autumn of 2003, and you’re considering starting a business. During a mayoral debate you hear Mayor Joe Riley extolling the high-wage virtues of technology and knowledge-based businesses. You visit the web site of the Charleston Regional Development Alliance and read that Charleston aims to attract technology and knowledge-based businesses in order to raise its wage level. The site mentions the Digital Corridor, too, which seeks to attract and keep technology businesses.
Health care: We reached the Summit—now we have to climb the mountain By Bill Settlemyer In any given year, nearly 20% of South Carolinians are uninsured at some point during the year. Most of our uninsured are either working or are dependents of people who work.
Not surprisingly, smaller businesses are less likely to provide coverage. Fifty-three percent of small employers with 1-10 employees and 39% with 11-20 employees do not offer group health coverage.
WORKING: Prep work for the layoff-fearing employee By Aleigh Acerni A good friend of mine recently relocated from Charlotte to Miami, Fla., to take a job with a fairly prominent advertising firm. After endless rounds of interviews, an exhaustive apartment search and a relocation of about 720 miles, she was ready to work—for a few weeks.
CAREER COACH: Business ownership isn’t right for everyone By Barbara Poole It’s the American dream: striking out on your own, starting a small business and having it become fabulously successful.
The harsh reality, however, is that even though as many as 600,000 new businesses are incorporated within the U.S. each year, between 60% and 80% fail within the first five years.
Businesses need to beware of spam legislation By Holly Fisher Businesses sending information to clients or customers via e-mail need to keep anti-spam laws in mind.
While e-mail can be an effective marketing and communications tool, even legitimate businesses sending commercial e-mails still need to comply with government requirements.
LISTMAKER Some are born great, some achieve greatness and some have greatness thrust upon them. That’s why we at the Business Journal thought you might be interested in getting to know the top executives of some of the most successful local companies.
Hi-tech ID cards help to keep kids safe By Sarah G. McC. Moïse Mount Pleasant resident Sharon Harper recently purchased a California-based franchise, Safe Kids Card of SC, an identification technology company that makes wallet-size CD-ROMs with vital information about children.
Third CTT event looks into ‘The Chasm’ By Sarah G. McC. Moïse The third meeting of the Charleston Technology Triangle entrepreneurship forum drew a healthy crowd on May 3. About 50 participants came to network and listen to Shawn Jenkins, CEO of Benefitfocus.com, discuss the strategy involved in Crossing the Chasm.
Unisex is dead: Gear makers get girly By Sarah G. McC. Moïse I’ve enjoyed rock climbing for a long time, but I haven’t always been comfortable in the typical school-issue, unisex harnesses. When I decided to get a little more serious, I purchased a Black Diamond harness, with different ratio waist belt and removable leg straps designed specifically for a woman. Trust me, it makes a difference.
LESSONS IN LEADERSHIP: Has your career taken over your life? By Jack Hoey I talked the other day with a long-time friend who recently embarked in a new career direction. While sharing his progress and some of the challenges he faced, he posed an interesting question.
“How do you keep your job from becoming all-consuming?” he asked.
‘Magnolia’ could bloom into lucrative tax base By Dennis Quick What serves as a gateway to Charleston for motorists traveling along Interstate 26 is a long-neglected brownfield of vacant lots and abandoned industrial sites littered with an overturned boat here and empty cargo containers there. What was once a whole community got split in the 1960s, when Interstate 26 arrived and steamrollered straight through, leaving scattered neighborhoods in its wake.
Appraisal industry lacks oversight, experts say By Renee Johnson Roy and Dana Keane (not their real names) already had loan approval on their new Daniel Island home and were on their way to South Carolina from another state with the moving van behind them when they learned that the last requirement for closing—the appraisal—had come in nearly $30,000 below the selling price. The closing process skidded to a halt and, with their old home already sold, the Keanes were forced to take up residence in a hotel. Frantic, they appealed to their loan officer for help.
BEST PRACTICES IN CONSTRUCTION By Tom Frisby I am told that in the early days of the Commonwealth of Massachusetts, lawyers were banned as being disruptive to a civilized culture. More recently, Newt Gingrich suggested that companies go overseas to avoid costly class act litigation in the United States, and recommended restrictions on jury awards, which might in turn restrict the number of lawyers practicing today.
Local firm named in top 50 of its kind in nation By Shannon Brigham The National Multi-Housing Council recently named Greystar Real Estate Partners LLC as one of the 50 largest apartment management firms in the nation.
Greystar ranked 12th, up from last year when it was ranked 17th. A firm had to own at least 20,600 apartments to make the rankings. Hotels, nursing homes, mobile homes or condominiums weren’t considered, only rental apartments, including senior rental housing.
Report urges South Carolina to prepare for growth By Dennis Quick When it comes to impending growth, it’s better to be proactive than reactive, suggests a report from the Washington, D.C.-based Urban Land Institute and the University of South Carolina’s S.C. Real Estate Center.
Planners push ‘green’ real estate development By Renee Johnson Widespread use of green and sustainable real estate development hinges on convincing the land use industry that applying the practices makes sound business sense, from energy savings to added property value, according to industry experts at a roundtable discussion recently co-hosted by the Urban Land Institute, a nonprofit education and research organization.
Web tool helps homebuilders square away customer service By Dennis Quick Thanks to a web-based technology, small- to mid-sized homebuilding and remodeling companies can do what the big boys do: see data revealing their customers’ satisfaction.
State’s insured bearing health insurance cost burden By Dennis Quick Unless more residents have access to health care coverage, South Carolina’s health-insured employees will continue paying more for their health insurance and getting less.
That was a message made clear at the Business Journal’s 2004 Business Healthcare Summit recently.
TIME WELL SPENT: Up in smoke: more reasons to kick the habit By Honor Hawkins There was a time, not so long ago, when smoking in the office was as permissible as drinking a glass of water or grabbing a handful of M&Ms.
While those times are long gone, employees are still smoking. Smokers, with their increased risk for cancer and heart disease (not to mention the time they use to take smoke breaks), are a liability to themselves, their employers and, sometimes, their co-workers.
Insurance solutions for small business By Sarah G. McC. Moïse The cost of company benefit plans is rising at least 15% a year, which means in five years you could be spending about twice what you’re spending now. That can put some small business owners out of business if they don’t take advantage of new options.
Community takes action on health issues By Holly Fisher Health care isn’t just about affordable insurance. Health care isn’t just for children or the elderly. Health care doesn’t just impact businesses like hospitals or nursing homes. Health care is a community issue, and the benefits of good health care—and the adverse impact of poor health care—are far-reaching because sick employees mean lost productivity for businesses, unhealthy children don’t perform as well in school and taxpayers feel the burden of paying for uninsured citizens.
Project Care executive director ready for challenge By Holly Fisher A nurse by training, Cathy Ferry Middleton had a desire to improve health care in a larger setting. She spent several years with CIGNA Healthcare operations in North Carolina and Tennessee before settling in South Carolina in 1996. In March she took charge of Tri-County Project Care, a major community-based health care initiative.
Office wellness can save health care $$$ By Sarah G. McC. Moïse Although businesses realize health care costs are climbing steadily and will likely double in the next five to seven years, many still have not recognized worksite wellness as a solution.
REWRITE: Alleviating businesses’ employment-at-will woes By Holly Fisher Starting July 1, employers may have a better case when it comes to employment-at-will questions. The state General Assembly has passed a new law giving employers direction on how to handle employee handbooks and policy manuals.
SALES MOVES: John Patterson: the father of American salesmanship By Jeffrey Gitomer John Patterson was a visionary. After buying the patent for the cash register in 1880, he created the foundation for the American salesman and the sales force we know today. But pay close attention; this is NOT a history lesson. This is a sales lesson.
Introduction to Forty Under 40 By Grady Johnson The Forty Under 40 issue of the Charleston Regional Business Journal is usually one of the most anticipated. Almost everyone wants to read about the movers and shakers of the business community, especially those who have the ambition and foresight to balance a successful career with community service so soon in their lives.
