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Show Business Ghe Salt Lake Tribune SUNDAY, September 10, 1995 EVANS COLUMN Page F-3 PAGE F-1 HARVEY MACKAY Page F-7 TRENDS Women Need Skills for Financial Security Compiled by Cherrill Crosby By Jill A. Zelickson GANNETT NEWS SERVICE ANNUAL REPORTS ‘The time and effort companies put inte their annual re- ports is worth it, according to a survey commissionedby the paper manufacturer Potlatch €orp. Securities analysts, portfolio managers and individual investors generally use the reports in making their investment decisions, according to the survey conducted by Yankeloyich Partners. Sixty percent of the respondents said they don’t mind companies spending for glossy pictures and computerdrawn graphics found in most annual reports, as long as the firms’ overall financial performance is strong. Forty percent of the investors surveyed be. lieve a report produced with cheap materials is 2 sign that business is bad. — The Associated Press o BIG MONEYIN LOGISTICS (t is as dry as toast, but chew on this: The contract logistics industry is expected to more than triple in size over the next five years to $50 billion in annuai revenue, That is a lot of bread for an industry that is about nothing more than moying things around. Butwait. It’s important: Virtually the entire economy dependson the arcane and complexscience oflogistics to get billions of parts and supplies into U.S. manufacturing plats on time andto distribute inished products efficiently to customers. Until recently, most American manufacturers handled both incoming and outgoing ‘logistics themselves. Now more and more manufacturers ate. outsourcing various poroneof their logistics activities. Wail Street Journal a BACK TO SCHOOL ~The job market for elemenfary and high school teachers Seeking their first positions is tough, according to a Michigan State University survey. The survey of 294 school systems, reported by the National Association of Colleges and Employers, foundofficials planned to hire just 3.2% more newteach- ets this year. Where there was Gemend, it tended to be for teachers with specializations, stich as special education, guidafice counselors, vocational teachers and librarians. Math, science and foreign language téachers also were being sought. — The Associated Press a in THE NUMBERS - Home Office Computing fadgazine has come up with a mixed bag ofstatistics. In its Septeraberissue, the magazine reports 41% of men who work at homeget dressed up in work clothes to do it. Thirty-five percent of women dress up. Home Office also reports 70% of the people using the World Wide Web are men. And 59% of per- Sonal computer usersconfess to haying lost their iempers with their PCs during the past year. — The Associated Press oO GROWTH ON SNACK MENU Halfway through another year of double-digit sales growth, Frito-Lay Inc. is already making plans for a slate of new snack products including the possibility of an entirely few snacklinethat it hopes will generate similar gains in 1996. “Over half of our growth has come from new products,” notes Steven Reinemund,chief executive officer of the Plano, Texas-based snack maker. “We wouldn't be getting double-digit growth if we were giving the consumer the same old stuff. If itieee tired, it doesn’tsell.” Dallas Morning News a PERPETUAL MOTION Are you constantly on the run ip your job? Being a bundle of activity may not be the best way fo do your work, says managetentpsychologist Harry Levinson. “I find that frenetic movement by mangers often disguises problems” such as decisions made too hastily, Levin- sdn says in his publication The Levinson Letter. People who are always on the go mayfindit hard to be part of a team, and fat can work to the detriment of a company or organization. Leyinson suggests supervisors force their frenetic workers to sit still for meetings. That'll takeit easier io keep an eye on them, he says. _ The Associated Press Thelatest financial readout on American womenis impressive -- and frightening: They earned more than$1 trillion in 1993, up from $202billion in 1975. They outlive men by an average of seven years, and nine out of 10 will be responsible for making their own investmentdecisions at some point. Forty-seven percentof first marriages and 49 percent of second marriages end in divorce. The average woman's ineome drops 37 percent after divorce « .eparation. Womenwhoretire at 65 will have on average less than one-third the income needed to retire comfortably. Single women will have less than one-fourth the income needed. Translation of these statistics, from Census Bureaufigures and studies commissioned by Oppenheimer Fund Management in 1990 and 1994: Womenneed the tools to build their own financial security. Yet, “We find women whonever wrote a check -- even in today’s new age,” says Ed Cain,a certified financial planner with AM&M Planners Inc.in Pittsford, N.Y. “Womenoften end up as widows, they often end up with ali the financial investment responsibilities, and they're often ill-equipped to do that.” “Not only are women different than men in terms of their investing needs orhabits, they are seriously atrisk,” warns Loretta McCarthy, senior vice president of corpo- taught how to become involved in financial decisionmaking and they haveless financial knowledge than do men. “Within the average household today, only 12 percent of women say they are responsibie for making investment decisions,” even though the majority are responsible for rate strategy and development at Oppenheimer Fund Man- the household budget andare involved in other decisions Oppenheimer Funds. “The good news is that women, when wehave interviewed them and talked to them, don't feel that investingis only a man’s job. Interestingly, the great majority -- something like 85 percent -- of men agree.” agement Inc. in New York City, parent company of the “The issues boil down to urging womento findtime to be moreinvolved, really realizing that if they dou't they are at risk,” she says. Women need “a mentality of financial independence whether they are single or have a partner or whatever,” urges Nannette Nocoon,senior financial adviser and certified financial planner at American Express Financial Ad- visors in Brighton, N.Y.“If they have this mentality, they should ask the question, ‘What should I be doingto take care of myself?’ Part of the problem offinancial insecurity, McCarthy says, is that many women are busy managing careers as well as homesandchildren. Further, McCarthy explains, many women havenot been such as major purchases. The best way to begin: Just do it, Oppenheimer’s McCar- thy says. “We really do not suggest specific investments. Wereally are urging women simply to make the whole matter a priority and to do something andto get going in some way.” Getting going, she notes, includes “seriously ‘hinking abouttalking to a professior vho they can develcp as an ally in the whole proces Here are some sugges. r nm financial experts te @ See WOMEN, Page F-4 Help Out Utahns See Future’s in With Kids The Cards Businesses i‘ By Steven Oberbeck THE SALT LAKE TRIBUNE Wm.Hugh Bollinger’s greeting ecards are filled with images of snow-covered Himalayan mountain peaks, endangered coral reefs and the fragile beauty of rare South American flowers. Picking up one, a blank note card that pictures a young Tibetan girl in her native homeland, Bollinger thoughtfully pauses a moment. “She's very beautiful, isn’t she?” Stores Know Child Care Attracts Parents By David Clifton ‘THE SALT LAKE TRIBUNE Nathan Stoven doesn’t even give his mother a second glance before scooting through the multicolored, child-sized door of “Freddie's Playland.” “ “Bye Nathan!” Linda Stoven calls out as she departs for an hourlong shopping trip at Fred Meyer in Holladay. The 31year-old boy flashes her a quick smile, then turns his attention to a “Tiny Toons” cartoon on the television. “Now I can shop in peace,” Stovensays. “And the other customers probably appreciate not having Nathan running up and down theaisles.” Retailers such as Portland, Ore.-based Fred Meyer, Fort Worth-based Incredible Universe and Smith’s Food & Drug of Salt Lake City are discovering the value of providing shortterm care and support for parents with small children. “Speaking as a mother, I spend more money and more time shopping without small children in tow,” says Cindy Tate, manager of Fred Meyer at 3215 S. Valley St. (3300 East) in Salt Lake County. “I have walked out on shopping because my kids have rung mybell.” Fred Meyer first tested its drop-in baby-sitting areas in 1988 at four Utah stores. After rave reviews by parents and employees, the chain expandedthe eoncept to Oregon, Washington and 10 of 12 stores in Utah. Now,all new and renovated outlets include play areas. Parents can drop off children ages 2 to 6 at ‘Freddie’s Playland” forup to an hour. There is one attendant — trained in CPR — for every eight children. There often is a waiting list at the Holladay store to get a child in because the service is so popular, says Tate. “Kids have fits if they can’t comein here,” says Playland attendant Lucy Jones, who works at the samestore.“I've had parents call on the phone and ask to So many images — breathtak- ing and elegant. “They say that when someone Lynn R. Yobnusati Sait Lake Trikes Marsha Adlam lets Jonathan,5, try out the three-seat grocery carts at Smith’s in Sandy. reservetime for their children.” Incredible Universe custom- ers will be able to drop their young ones off at “Kids View” whenthe electronics and appliance chain opens its first Utah store this winter at 10600 South talists and Interstate 15 in Sandy. children ages 3 to 9 for an hour. Children can play thelatest video games, tackle educational computer programs or snuggle into a beanbag chair to watch a photographers, he work centers around preserving movie on a big-screentelevision. images from the world's endangered cultures. Thoseless interested in technology can coloror create their own art at a crafts table. “Tt is easier to make that important decision about the refrigerator you need without wondering if your kid is getting For Bollinger, who served for 15 years as vice president of business development at the Salt Lake City-based plant research firm Native Plants Inc., launching Pon- daray was a homecomingofsorts. “T'd always been interested in lost,” says incredible Universe spokesman Doran Davidson “The area exposes kids to our publishing.” he says. “And over the past 25 years I’ve met numerous people in the environmental products and lets them take a test drive.” Fred Meyer and Incredible Universe officials stress their play areas are not day-care centers, Employees do not change field. It seemed so natural.” The greeting-card business last year generated $5.9 billion in retail sales in the United States, says Marianne McDermott of the diapers or provide meals, And if @ See KIDS, Page F-2 and says. They are from people such as the late Barry Bishop, vice president of research and exploration for the National Geographic Society, and ethnographic portrait photographer Phil Borges, whose “Kids View” is a glass-walled area capable of holding upto 30 children misbehave, parents are paged to immediately pick up their child, In addition, parents arenotallowed to leave the stores to do other errands without picking uptheir children. “We had one couple that dreppedoff their child and went selects a greeting card 85% of the decision is based upon the image,” Bollinger says. “The other 15% is the message.” The images on the cards Bollinger’s 3-year-old Salt LakeCitybased Pondaray Enterprises produces are stunning, as they should be considering their sources. The photographs come from the libraries of some of the world’s most noted environmen- Washington, D.C.-based Greeting Card Association. Roughly one-half of the cards sold are seasonal cards for holidays, birthdays and such. But the sales of alternative cards, such as the blank-note cards Pondaray ‘Tim Kelly/The Salt Lake Tribune Kelli Taylorstroils past the baby-sitting room at Fred Meyer in Salt Lake ity to check on her kids, Kara, 2, and Casey, 4 and other Utah companies pro- duce, are on therise. The major players in the mar@ See CARDS,Page F-2 Group Names Panguitch Youth Top National Young Business Owner By Judy Fahys THE SALT LAKE TRIBUNE PANGUITCH —- Selling ice to road-weary desert tourists in the summer. The formula put Panguitch entrepreneur Mitch Miller in business six years ago and stoked a fund for college and an LDS mission. Last month, it earned him celebrity, too. The National Federation of Independent Businesses (NFIB), the nation’s largest small-business trade association, awarded Miller its ‘“Young Business Owner of the Year Award.” The 18-year-old, first-year college student shrugsat first when asked about the award. “Luck,” he says sheepishly. ‘'I must have been the only one who applied.” The 600,000-member NFIB thoughtdifferenily. 't honors just one young entrepreneur each year. Its judges singled out Miller for being “‘inzightful, keen to opportunity” and persistent. “Mitch Miller's tenacious customer-serviee policy and easy-going manner haye helped him overcome the stigma of youth,” said NFIB Foundation President Donald Tanner.‘His ability to instill in his clients a sense of trust and respect bas ensbled him to grow a thriving business that conforms to his school schedule and moves him toward his financial goals for college.” Miller launched Bryce Canyon Pines Ice in 1989. He started by dusting off and repairing a 30-year-old ice machinehis father had in storage. Then helined up a few customers. “This allowed meto start on a smallseale without any major investments,” he says. Bryce CanyonPines Ice makesuse of five ice machines now, including models that make 14-pound blocks and cubes for 8poundbags. The productis sold at about a dozen outlets around Bryce Canyon Na- tional Park. It comes in bags custom-designed with a blue and green pine-tree logo. All Miller's accountslie within a 10-minute drive of bis family's Bryce Valley Pines resort, a compiex thatincludes a hotei, restaurant, campground and convenience store. The close proximity has madeit possible for Miller to serve his customers without dropping his other summer-timeactivities, such as tending the store counter, waiting tables and playing baseball, “T like working for myself,” says Miller, a 1995 Panguitch High School graduate whowill attend Brigham Young University full time this fall. “I like working how I want, when I want.” The young entrepreneur earned $2,089 his first year in business and in 1994, his fifth year, he realized a $7,422 profit In addition, Bryce Canyon Pines Ice shows $838in payroll expenses. The company president explains: “My brotherandsister, they make me pay them to help out.” Miller wrote about his business for localand state-student competitions last year. He received a first place and $1,000 in a statewide contest for rural Utah students and another $1,000 in a separate statewide competition. On a lark, he dusted off those application materials to use as his NFIB entry. The federation celebrated his work last month atits three-day national convention in Traverse City, Mich. The association paid for Miller and his motherto attend, plus it awarded him $1,000 Miller plans to continue his business after this year, even though he will be attend- ing BYU several hours away from his customers. He says the experience has been worthwhile, and he urges other young people to give business a whirl. “T'd say, ‘Take the risk and doit, * he says. “The worse that could happen is that it does not work, and that is not too bad.” Mitch Miller makestess buninees. * y |
