Businessuite Digital Magazine March 11th to 15th 2013

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• • •

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The Scotia Premium Money Market, Fixed-Income and Growth Funds are distributed by Scotia Investments Jamaica Limited, a corporate entity separate from, although owned by, The Bank of Nova Scotia. Commissions, trailing commissions, management fees and expenses may be associated with mutual funds or unit trust investments. Important information about the Scotia Premium Money Market, Fixed-Income and Growth Funds are contained in the Funds’ Offering Circulars. Copies are available from Scotia Investments branches and Investment Advisors and should be read carefully before investing. Share values and investment returns for the Funds may fluctuate. Past performance is not indicative of future performance. Investments in Scotiabank mutual funds and unit trusts are not guaranteed, and are not insured by the Jamaica Deposit Insurance Corporation (JDIC) and are not guaranteed by The Bank of Nova Scotia or its affiliates. Residents of Canada and US persons are not eligible to invest in this Fund. *The Fund may refuse purchase orders from clients in certain circumstances.

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table of contents Page 7

Business Highlights Trending .....................................................................................

Page 10

Page 22

5 Ways Brands Are Cutting Out Agencies ...................................................................................

Page 23

– Friday March 8th 2013

Emerging Technologies Demand New Marketing Fundamentals

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Jamaica Stock Exchange Report

Page 13

Trinidad and Tobago Stock Exchange Report - Friday, 08 Mar, 2013 .......................................................................................

Page 15

Where Do You Plan To Invest

Page 25

Work from Home vs. the Office ....................................................................................

Page 27

Working from home vs. The office from a time management perspective ....................................................................................

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Page 19

Selling Your Business ....................................................................................

Page 28

Hotel Office Space, by the Hour

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Page 20

Connecting Youth Across Borders: A Positive Impact on Jamaica’s Economy … AND Realizing Dreams Businessuite Magazine

Page 30

2013 Motor Trend Car of the Year: 3

Editorial

Work From Home or a Coffee Shop is This What CEOs Should Be Allowing Do you really need to go to the office?

We have for a long time maintained that very few people work full time.

We suspect that the average employee spends no more than three hours doing actual work each day, the rest of the time is spent doing other things, bathroom breaks, coffee breaks, lunch breaks, facebook updates etc.

The CEO of Yahoo!, Recently set the embers of debate into raging flames when she announced through the company’s human resources arm that employees will no longer be permitted to work remotely. “Speed and quality are often sacrificed when we work from home,” says the memo from Yahoo HR director Jackie Reses. “We need to be one Yahoo!, and that starts with physically being together.” She said.

Yahoo! It seems is cracking down not only on those who work from home full-time, or those who need flexibility because they are parents; everyone is being warned that their lives don’t matter. A perspective on the position you may say.

Working from home or anywhere for that matter is not as easy as it sounds. It requires discipline and focus. The temptation to do other things other than work is great and there will always be distractions to contend with.

And yes, there are some jobs that cannot be done from home or some other remote location. But a case by case approach, identifying not only which positions CAN be flexible, but also having managers work with employees on a clear plan of what’s expected from those positions, makes far more sense than a blanket ban.

But there are other options other than the home or office now available. A recent article in the new York times and reprinted in this issue cites hotel lobbies, business centers and the open space around meeting areas as having long functioned as places to meet, network and get work done, although workers’ growing ability to be connected without being tethered to a desk has accelerated the trend.

“It’s a more casual setting,” and “It’s a much more outgoing atmosphere.

People are more open to talking”, are some of the benefits cited for this growing trend. Sonja Fisher, a sales engineer at the software company ParAccel, is among them. “I’ve worked in Starbucks, apartment building conference rooms, restaurants, libraries,” she said. “Hotel lobbies have become very convenient.”

The fact is this growing trend is picking up momentum and just like how the traditional jacket and tie has for the most part been abandoned in the work place, the work place as we know it yesterday may very well be the hotel lobbies, business centers and the open space around meeting, today not tomorrow.

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CREDITS: Consultant Editors Dr. Anita Davis-DeFoe, Andrew J Skerritt Publisher and Editor in Chief: Aldo Antonio aldo@blackslateholdings.com Executive Editor: Michael Dixon Michael@blackslateholdings.com Editor: Damian Wilson Subscription and Distribution Lionel Johnson Advertising Sales businessuitemagazine@gmail.com Graphic Artist: Miguel A. Rowe Photo credits: Sourced from the internet and contributed Social Media CLICK Digital Agency

Businessuite is your source for information, news and tools on starting, running and growing your business. We know your time is valuable and scarce, so we take the time to find, create and present all the information that will be relevant to the success of your business.

Businessuite Online, Businessuite Digital, Businessuite Magazine, Businessuite Today, Businessuite Minute and Businessuite News Channel are owned and operated by Blackslate Media Group.

Info: 876-631-4505 (o) or 876-280-9192 (m) 876-458-3253 (Mobile) --------------------------------------------------------------------------------PUBLISHERS: Businessuite News Centre A division of the Blackslate Media Group Silicon Mountain Mandeville Jamaica For all information 876-631-5418 (Kingston Office) 876-458-3253 (Mobile) 876-631-4505 (Mandeville Office) 876-280-9192 (Mobile) michael@blackslateholdings.com OR email blackslateholdings@gmail.com -----------------------------------------------------Blackslate Media Group Ltd, Silicon Mountain Mandeville Jamaica 876-631-5418 (Kingston Office) 876-458-3253 (Mobile) 876-631-4505 (Mandeville Office) 876-280-9192 (Mobile) To learn more about Blackslate go to www.blackslateholdings.blogspot.com aldo@blackslateholdings.com

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Business Events M a r c h 2013

Thursday - Mar 14th, - 11:00 a.m Jamaican Teas Limited Annual General Meeting Location

Knutsford Court Hotel,

11 Ruthven Road, Kingston 10 ............................................................................

Thursday - Mar 07, - 8:30pm friday - Mar 08, - 5:00pm MIND’S PUBLIC SECTOR LEADERSHIP CONFERENCE 2013 LEADERSHIP IN ACTION: SUPPORTING THE VISION, ENGENDERING TRANSFORMATION

Thursday - Mar 14th, 3:00 p.m SSL Annual Leadership & Financial Forum Location

The Jamaica Pegasus Please RSVP at tfraser@sslinvest.com. ............................................................................

Location

Management Institute for National Development (MIND)

Knutsford Court Hotel, 11 Ruthven Road, Kingston 10 Contact: 927-1761, 977-4311 marketing@mind.edu.jm ..........................................................................

Wednesday - Mar 13th, 2013 - 8:00pm

Tuesday - Mar 19, 2013 - 9:00 a.m AMG Packaging & Paper Company Limited Annual General Meeting Location Retirement Crescent, Kingston 5 ............................................................................

Thursday - Mar 21, 2013 - 6:00pm Avaya Evolutions Expo JAMAICA COMPUTER SOCIETY MEMBERS MEETING Location

Jamaica Pegasus Hotel, 81 Knutsford Boulevard, New Kingston www.avaya-evolutions.com ..........................................................................

Wednesday - Mar 13th, - 10:00a.m Honey Bun (1982) Limited Annual General Meeting Location

The Knutsford Court Hotel,

11 Ruthven Road, Kingston 10, ............................................................................

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Location

Lundth Suite, Hotel Four Season, 18 Ruthven Road, Kingston 10, Jamaica www.myjcs.com / inform@myjcs.com 325-2301 or 843-7923 ............................................................................

Thursday - Mar 21st, - 5:30 p.m JCC 31ST ANNUAL DINNER AND AWARDS CEREMONY Location Jamaica Pegasus Hotel,

81 Knutsford Boulevard, New Kingston Tel: 876 379 3507 ...........................................................................

Businessuite Magazine

trending Police Meet With Gov’t Over Wage Negotiations

TRENDING

Now

Carlos Hill Finds US$75 million

BUSINESS HIGHLIGHTS TRENDING Mayberry $1-Billion Fund MAYBERRY is mainly eyeing companies that are export-driven to invest the $1 billion that it has set aside to inject in businesses that want to go public. The company has established the fund for new equity offers on the Jamaica Stock Exchange (JSE) Junior Market. It will, according to Gary Peart, Mayberry’s Chief executive officer, give businesses capital that is needed for an initial public offering (IPO). Mayberry has been the lead broker for 11 of the 16 Junior Market listings.”We are able to not only bring companies to market by being their brokers, but we will help with capital they need to list,” Peart said. Chief among the issues a company may encounter in the process of going public is the associated cost. The money which Mayberry is providing can increase the probability of the IPO taking place, he said. Listing is a major transition, which will require transparency in getting the financials together and the necessary agencies to work in the process. Providing capital to companies is not new to Mayberry, Peart said.

Perkins Expects 5% Hit To Sagicor Investments Capital Sagicor Investments Jamaica Limited is likely to see its capital base erode by about J$600 million. The company, formerly Businessuite Magazine

known as Pan Caribbean Financial Services, said this week that it expects a less than five per cent hit to shareholder equity, resulting from the National Debt Exchange (NDX). Sagicor Investments’ equity grew marginally to J$12 billion at yearend December 2012, according to its newly released financials.”The financial impact of the exchange on stockholders’ equity is dependent on how the market prices the new notes. Assuming the fair value of the new notes is at par, the impact on stockholders’ equity would be a reduction of less than five per cent,” the company said.

expand our service footprint to deliver our brand of services across the Caribbean region,” said Brendan Paddick, chairman and chief executive officer of Columbus.”We believe that this is an exciting opportunity to build upon Kelcom’s past successes to offer a truly world-class suite of services and technologies to the people and businesses of St Lucia, St Vincent & the Grenadines and Antigua. We look forward to welcoming Kelcom, its customers and its approximately 250 talented professionals into the Columbus family,” he added.

Columbus International to acquire Kelcom International Limited

Kingston Live Entertainment (KLE) Group suffers a $13 million loss in 2012

An Eastern Caribbean telecommunications provider that operates under the name Karib Cable., Kelcom International Limited is the leading cable system operator in St Lucia, St Vincent & the Grenadines and Antigua.

The company also holds a host of telecom licences in Barbados where it is in the early stages of network deployment.

Kelcom’s fibre-deep HFC cable systems pass approximately 110,000 homes and serve close to 60,000 customers offering cable television, high-speed Internet and telephony services.

“The acquisition of Kelcom marks another important milestone for Columbus as we

With its restaurant Usain Bolt’s Tracks & Records operating in the red, KLE, which operates the Fiction night club along with Tracks & Records in Kingston, reported a 120 per cent increase in revenues to $288.5 million for the year ending December 31, 2012, based on the addition of the restaurant to the group in November 2011.

KLE and Tracks & Records were two separate companies prior to November 2011, when the owners took the decision to simplify the corporate structure and combine the two entities. For comparative purposes, using the combined results of the respective segments of the amalgamated entities, revenues from Fiction was down 7

trending 11 per cent year on year to $116.6 million, while the restaurant’s sales jumped by 41 per cent to $171.8 million, the company reported.

Pan-Jamaican Associated Businesses Boost Bottom Line Real-estate conglomerate Pan-Jamaican Investment Trust Limited increased its annual net profit 10 per cent to J$2.2 billion due to the performance of its associated businesses led by Sagicor Life Jamaica and Chukka Adventures. Pan-Jam’s core revenues at J$1.68 billion dipped 3.7 per cent year-on-year, but its bottom line benefited from the 17 per cent rise in its profit share from associated companies.

Pan-Jam owns and operates businesses across a range of industries. Through its subsidiaries and associated companies, the conglomerate engages in property development and management, banking, manufacturing, retail, trade, financial services and investment.

Jamaican workforce best in region HOTEL mogul and Chairman of the Jamaica Observer Gordon ‘Butch’ Stewart says Jamaica has the single best workforce in all of the Caribbean.”... I am not saying that to blow smoke, I am saying that because it is a fact of life,” he said, explaining that 90-odd per cent of the workers in the hotels here in Jamaica are Jamaicans. The hotelier, who has Sandals hotels in several Caribbean territories, said that while every island has its own strength, the most diligent workers are from Jamaica.

Gov’t Not Fazed By NHT Challenge Attorney General Patrick Atkinson says he is not worried about the latest court action seeking to block the government’s attempt

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to take $45 billion from the National Housing Trust (NHT).

Last week, the group Citizens Action for Principle and Integrity (CAPI), discontinued a suit it filed against the NHT in the Supreme Court. However, it filed a constitutional motion challenging the Bill to amend the NHT Act, which was passed on Tuesday in the House of Representatives.

CAPI is also seeking an injunction to bar the withdrawal of the funds from the Trust.

negotiations wrapped up with all public sector workers this week. Minister with responsibility for the public service, Horace Dalley, said the Government needs to move quickly to secure an agreement with workers, so it can finalise the International Monetary Fund deal. However, the Police Officers’ Association (POA), the Jamaica Police Federation and the Jamaica Teachers’ Association (JTA) have said they only had one meeting so far with the government.

S&P upgrades Jamaica to ‘CCC+’

Carlos Hill Finds US$75 million

Standard & Poor’s (S&P) has raised its long-term foreign and local currency sovereign credit ratings on Jamaica to ‘CCC+’ from selective default following the completion of the government’s debt restructuring, the National Debt Exchange (NDX).

The move last Wednesday followed a similar upgrade by Fitch rating agency.”At the same time, we raised our short-term foreign and local currency sovereign credit ratings on Jamaica to ‘C’ from ‘SD’,” S&P said in a statement out of Washington. It said the outlook on the long-term foreign and local currency sovereign credit ratings is stable.

Cash Plus investors have greeted news of a possible payout with excitement and cautious optimism. Last week, news first broke through The Gleaner/Power 106 News Centre that former head of the failed investment club, alleged fraudster Carlos Hill, has indicated to the authorities that he wants to make amends. In documents sent to the Office of the Director of Public Prosecutions (DPP) yesterday, Hill indicated that he has come into US$75 million (J$7.3 billion) which he intended to forward to the Office of the Trustee in Bankruptcy for disbursement to investors.

In addition, S&P’s has assigned its ‘CCC+’ rating to Jamaica’s new benchmarks bonds, issued at the conclusion of the debt exchange. “The new rating will reflect our assessment of the Government’s continued vulnerability to adverse external shocks, its low level of international reserves, and the risks to a successful implementation of its reform programme in conjunction with assistance from the International Monetary Fund (IMF),” the agency said.

Police Meet With Gov’t Over Wage Negotiations The Government is to meet with police groups today as it seeks to have wage

Western Business community Disheartened and Concerned Davon Crump, president of the Montego Bay Chamber of Commerce and Industry, has said the business community in western Jamaica is unable to absorb the recent increases and will have no choice but to pass these on to the consuming public.”The business community is disheartened and concerned at the recent announcement by the Minister of Finance of the proposed tax increases,” Crump told The Gleaner last Tuesday.”We cannot sustain a viable business environment with this kind of seemingly irrational increase, and need to see a much more reasonable plan coming from the ministry,” added Crump. No importer or investor will Businessuite Magazine

Trending

be willing to embrace these costs on their own. The sad thing is that, this will have to be passed on to the consumer, many of whom are already struggling to make ends meet.” continued the chamber boss.

Jambiz International foray into local television production Jambiz International Limited is about to make another foray into local television production with a new drama set to hit the airwaves in the last quarter of this year. The television series, called Changes, may not be using the same faces viewers are used to from locally produced ventures. In fact, the producers wish to make it known that they are keen on unearthing new talent, so persons with no prior experience in acting, but who have what it takes to act in front of

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a camera, are encouraged to audition. The age range is 16 to 50 years old. Students in tertiary institutions are also encouraged to try out. Auditions take place on Saturday and Sunday at Centerstage from 11 a.m. each day. Interested persons are asked to call 929-1280 or 473-4485 to make an appointment.”

Market Rates Will Head South….. Bruce Bowen The Bank of Jamaica’s (BOJ) latest data on deposit rates indicates that savers received interest of 1.49 per cent on average in December, down 49 basis points (bps) over calendar year 2012. In real terms, with annual inflation running at eight per cent in December, savers were experiencing more than six per cent negative returns on their deposits at that point. Still, at yearend, interest paid on savings ac-

counts ranged from a low of 0.1 per cent to a high of 8.5 per cent, the same range that obtained at the top of the year, January 2012. President and CEO of Scotia Group Jamaica, Bruce Bowen, expects that post debt swap, both markets rates will head south. “With the reduction in average market rates - GOJ bond coupon rates, BOJ deposit rates and recent T-bill rates - following NDX, there will most likely be some amount of reduction to savings, repo and other investment rates in the market,” Bowen told the Financial Gleaner.

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Stocks + Investing + money markets WEEKLY BULLETIN 08.03.13 NCBJ - Trading in Shares

Dividend/Capital Distribution Payments Amount (Cents)

X-Date

Record Date

Payment Date

CAR

140

19/02/13

21/02/13

13/03/13

CAR

120 (s)

19/02/13

21/02/13

13/03/13

CHL

100

08/03/13

12/03/13

28/03/13

DCOVE

10

07/03/13

11/03/13

28/03/13

GENAC

4.85

13/03/13

15/03/13

28/03/13

GLNR

3.5

28/02/13

04/03/13

22/03/13

GK

70

08/08/13

12//03/13

27/03/13

HONBUN

9

11/03/13

13/03/13

27/03/13

JBG

6

11/03/13

13/03/13

28/03/13

JMMB

10

14/03/13

18/03/13

28/03/13

JSE

3.26

06/03/13

08/03/13

12/03/13

NCBJ

23

27/02/13

01/03/13

14/03/13

PJAM

110

11/03/13

13/03/13

25/03/13

SGJ

40

11/03/13

13/03/13

28/03/13

SIJL

45

11/03/13

13/03/13

28/03/13

SLJ

19

13/03/13

15/03/15

28/03/13

S

48

13/03/13

15/03/15

27/03/13

SVL

10

12/03/13

14/03/15

28/03/13

Annual/Extra-Ordinary General Meeting Company JAMT

Date

• National Commercial Bank Jamaica Limited (NCBJ) has advised that a related party purchased 37,295 NCBJ shares on March 1, 2013.

GK - Appointment of Director • GraceKennedy Limited (GK) has advised that Dr. Parris Lyew-Ayee Jr. has been appointed a Director of GK with effect from March 6, 2013.

JMMB - Trading in Shares • Jamaica Money Market Brokers Limited (JMMB) has advised that a Director purchased 364,277 JMMB shares on February 22, 2013.

Scotia Group- Board Changes • Scotia Group Jamaica Limited has advised that Mr. Brian Porter has retired as Chairman on March 1, 2013 consequent on his appointment as President of the Bank of Nova Scotia (Canada). Effective March 1, 2013, the board of directors appointed Ms. Sylvia Chrominska as the new Chairman and she has been a member of the board of directors since August 27, 2009.

GLNR - Request Extension • The Gleaner Company Limited has advised that its audited financial statements for the year ended December 31, 2012 will be available by March 15, 2013.

(c) to be approved by stockholders at annual meeting (c/d) Capital Distribution (D) Dividend (s) Special Dividend

HONBUN

• National Commercial Bank Jamaica Limited (NCBJ) has advised that a related party bought a total of 17,114,854 NCBJ shares on February 28, 2013.

NCBJ also advised that another related party purchased 5,480 NCBJ shares on March 5, 2013.

Venue

March 13/10:00 a.m.

Knutsford Court Hotel

March 14/11:00 a.m.

Knutsford Court Hotel

AMG

March 19/9:00 a.m.

9 Retirement Crescent

FCIB

March 21/5:00 p.m.

GK

May 29/4:00 p.m.

Hilton Barbados Resort 73 Harbour Street

H&L - Appointment of Director • Hardware & Lumber Limited has advised that Mr. Harry A. J. Smith was appointed a member of the Board of Directors of HL effective March 7, 2013.

Consolidated Bakeries - Financials • Consolidated Bakeries Limited will be submitting its 2012 audited financial statements on or before Thursday, March 28, 2013.

JSE Investor Events JSE’s Corporate Outreach

Bond Indices Summary for the period March 4 - 8, 2013 Caribbean Investment Grade Index up 0.16 points or 0.13% to close at 125.62 points Caribbean Stock Index up 4.73 points or 6.36% to close at 79.10 points Jamaica Global Bond Index up 0.59 points or 0.49% to close at 121.48 points JSE Money Market Index up 0.32 points or 0.32% to close at 98.87 points

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JSE is offering an exciting 15-minute presentation geared towards employees in the Jamaican workforce.

The aim of the programme is to present simple and concise information about how the stock market works to benefit Jamaicans. If your company would like to participate, kindly contact Mrs Charlette Eddie Nugent or Miss Davia Eastman at 967-3271 to arrange a visit from us.

Please direct your comments and enquiries to: Jamaica Stock Exchange, P.O. Box 1084.

40 Harbour Street, Kingston.

Tel: 967-3271; Fax: 924-9090

Businessuite Magazine

Stocks + Investing + money markets THE JSE MARKET SUMMARY FOR: The Week:04-Mar-2013 To 08-Mar-2013

For the period March 04, 2013 to March 08, 2013JA$ market volume (excluding blocks) amounted to 11,992,800.00 units valued at $129,186,335.80.

There were no block transactions for the period in the JA$ market. US$ market volume (excluding blocks) amounted to 0.00 units valued at $0.00. There were no block transactions for the period in the US$ Market.

The following companies represent the overall volume leaders:  Proven Investments Limited 8% with 3,636,679 units, amounting to 30.32% of the market volume  Jamaica Money Market Brokers Ltd with 1,344,153 units, amounting to 11.21% of the market volume  Lime with 1,016,984 units, amounting to 8.48% of the market volume Overall Market activity resulted from trading in 37 stocks of which 18 advanced, 13 declined and 6 traded firm.

Stocks Advancing Barita Investments Limited Berger Paints Jamaica Ltd. Blue Power Group Limited Caribbean Cement Company Ltd. Ciboney Group Limited Desnoes & Geddes Ltd GraceKennedy Limited Jamaica Money Market Brokers Ltd Kingston Properties Limited Lasco Distributors Limited Lasco Manufacturing Limited Mayberry Investments Limited Paramount Trading (Jamaica) Limited Sagicor Investments Jamaica Limited Sagicor Life Jamaica Limited Scotia Group Jamaica Limited Seprod Limited Supreme Ventures Limited

Stocks Declining Access Financial Services Limited Caribbean Producers Jamaica Limited Carreras Limited Consolidated Bakeries (Jamaica) Limited General Accident Insurance Company (JA) Limited Guardian Holdings Limited Honey Bun (1982) Limited Lasco Financial Services Limited LIME National Commercial Bank Jamaica Ltd. Proven Investments Limited 8% Scotia Investments Jamaica Ltd. Trinidad Cement Limited

Stocks Trading Firm Gleaner Company Ltd. Jamaica Broilers Group Jamaica Money Market Brokers Ltd 8.75% Kingston Wharves Limited Pan Jamaican Investment Trust Co. Ltd. Radio Jamaica Limited

Close Price

Change

% Change

3.30 1.91 5.10 0.88 0.04 4.17 49.99 7.30 4.00 10.00 9.60 2.22 3.15 15.50 7.32 21.68 14.50 2.46

0.25 0.11 0.55 0.01 0.01 0.24 0.49 0.10 0.25 1.22 0.56 0.01 0.08 1.30 0.23 2.73 0.29 0.06

8.20% 6.11% 12.09% 1.15% 33.33% 6.11% 0.99% 1.39% 6.67% 13.90% 6.19% 0.45% 2.61% 9.15% 3.24% 14.41% 2.04% 2.50%

Close Price

Change

% Change

6.15 2.00 52.04 1.60 1.50 270.00 3.55 5.80 0.17 19.02 5.04 23.06 15.58

-0.35 -0.10 -0.98 -0.20 -0.14 -7.00 -0.45 -0.05 -0.01 -0.01 -0.05 -0.09 -2.75

-5.38% -4.76% -1.85% -11.11% -8.54% -2.53% -11.25% -0.85% -5.56% -0.05% -0.98% -0.39% -15.00%

Close Price

Change

% Change

1.13 4.50 3.25 5.40 50.50 1.30

Trading activity for the period March 04, 2013 to March 08, 2013, saw the following:       

The JSE Combined Index advanced by 1,445.59 points or (1.70%) to close at 86,668.29 points.

The JSE Index advanced by 1,440.94 points or (1.72%) to close at 85,400.24 points.

The JSE All Jamaican Composite Index advanced by 3,215.96 points or (4.11%) to close at 81,472.21 points.

The JSE Select Index advanced by 91.23 points or (4.25%) to close at 2,238.03 points.

The JSE Cross Listed Index declined by 8.37 points or (0.98%) to close at 848.98 points.

The Junior Market Index advanced by 7.02 points or (1.20%) to close at 594.36 points.

The JSE USD Equities Index closed at 71.43 points.

The JSE Index comprises all Ordinary Companies on the Main Market. The JSE Combined Index comprises all Ordinary Companies on the Main Market and Junior Market. The JSE All Jamaican Composite Index comprises of only Jamaican Companies on the Main Market. The JSE Select Index comprises the JSE's 15 most liquid Securities on the Main Market. The JSE Cross Listed Index comprises of only foreign companies on the Main Market. The Junior Index comprises all Ordinary Companies on the Junior Stock Market.

Page 1 of 2

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Stocks + Investing + money markets THE JAMAICA STOCK EXCHANGE REGULAR MARKET TRADE SHEET Market Summary For The Week: 04-Mar-2013 To 08-Mar-2013

Market Summary Market Capitalization Market Capitalization:

Index Title

Market Vol:

10,725,087.00

Market Val:

124,841,000.18

511,384,552,181.00

Value

JSE Combined

86,668.29

JSE Index

85,400.24

All Ja Comp

81,472.21

JSE Select

2,238.03

Cross Listed

Security

YTD Div

Volume Traded

Value Traded ($)

This Period's Hi Low ($) ($)

Last Sale Price ($)

Change

848.98

Close Price ($)

Change Change ($)

(%)

1,445.59 1,440.94 3,215.96 91.23 -8.37 Closing Bid Ask ($) ($)

JA$ Market Barita Investments Limited 0.11 Berger Paints Jamaica Ltd. Cable & Wireless Ja. 5.5% Cable & Wireless Ja. 6% Caribbean Cement Company Ltd. Carreras Limited Ciboney Group Limited Desnoes & Geddes Ltd First Caribbean Internationa Bank 0.02 USD Gleaner Company Ltd. XD GraceKennedy Limited XD Guardian Holdings Limited Hardware & Lumber Ltd. 0.13 Jamaica Broilers Group Jamaica Money Market Brokers Ltd Jamaica Money Market Brokers Ltd 8.50% 0.07 Jamaica Money Market Brokers Ltd 8.75% 0.07 Jamaica Producers Group Ltd. 0.20 Jamaica Public Service 5% C Jamaica Public Service 5% D Jamaica Public Service Co. 6% Jamaica Public Service Co. Ltd. 7% Jamaica Stock Exchange Variable Preference XD Kingston Properties Limited 0.00 USD Kingston Wharves Limited LIME Mayberry Investments Limited Montego Bay Ice Co. Ltd. National Commercial Bank Jamaica Ltd. Palace Amusement Co. Ltd. 1.75 Pan Jamaican Investment Trust Co. Ltd. Proven Investments Limited 8% Pulse Investments Limited Radio Jamaica Limited Sagicor Investments Jamaica Limited Sagicor Life Jamaica Limited Salada Foods Jamaica Ltd. 0.40 Scotia Group Jamaica Limited 0.40 Scotia Investments Jamaica Ltd. 0.45 Seprod Limited Supreme Ventures Limited Trinidad Cement Limited

Regular Transaction: Number of Trades: Total Value: Total volume: JA$ Totals Total Value: Total volume:

12

370 $124,841,000.18 10,725,087 124,841,000.18 10,725,087.00

23,000 4,749

75,300.00 9,070.59

3.30 1.91

3.20 1.91

17,364 413,463 57,370 331,100

14,995.24 21,917,922.42 2,294.80 1,373,941.91

0.90 53.50 0.04 4.30

0.86 51.00 0.04 3.95

35,000 546,051 752

39,380.00 27,259,116.25 203,040.00

1.13 51.00 270.00

1.12 49.75 270.00

96,599 1,344,153

436,928.89 9,754,482.59

4.60 7.30

4.50 7.14

333,000

1,082,250.00

3.25

3.25

28,200 188,772 1,016,984 243,560

112,800.00 1,023,336.86 179,220.96 538,433.37

4.00 5.50 0.18 2.24

4.00 5.30 0.17 2.20

208,815

3,970,616.58

19.40

19.00

9,650 3,636,679

487,325.00 18,328,867.16

50.50 5.09

50.50 5.04

48,296 2,940 541,317

62,034.80 45,570.00 3,954,901.65

1.30 15.50 7.41

1.25 15.50 7.05

862,323 558,072 2,478 26,000 148,400

18,682,176.01 12,875,082.60 35,931.00 63,909.50 2,312,072.00

22.00 23.15 14.50 2.50 15.58

18.70 23.00 14.50 2.45 15.58

3.30 1.91 0.50 0.53 0.90 53.40 0.04 4.30 110.00 1.12 50.00 270.00 3.22 4.50 7.30 3.50 3.25 15.00 0.36 0.35 0.40 0.39 1.89 4.00 5.40 0.17 2.21 18.00 19.00 95.00 50.50 5.04 1.00 1.30 15.50 7.20 8.50 21.68 23.00 14.50 2.45 15.58

3.30 1.91 0.50 0.53 0.88 52.04 0.04 4.17 110.00 1.13 49.99 270.00 3.22 4.50 7.30 3.50 3.25 15.00 0.36 0.35 0.40 0.39 1.89 4.00 5.40 0.17 2.22 18.00 19.02 95.00 50.50 5.04 1.00 1.30 15.50 7.32 8.50 21.68 23.06 14.50 2.46 15.58

0.25 0.11

8.20 6.11

0.01 -0.98 0.01 0.24

1.15 -1.85 33.33 6.11

0.00 0.49 -7.00

0.00 0.99 -2.53

0.00 0.10

0.00 1.39

0.00

0.00

0.25 0.00 -0.01 0.01

6.67 0.00 -5.56 0.45

-0.01

-0.05

0.00 -0.05

0.00 -0.98

0.00 1.30 0.23

0.00 9.15 3.24

2.73 -0.09 0.29 0.06 -2.75

14.41 -0.39 2.04 2.50 -15.00

3.30 1.93 0.50 0.53 0.90 52.51 0.03 4.18 96.50 1.12 49.75 270.00 3.15 4.50 7.23 3.50 3.25 14.50 0.36 0.35 0.40 0.39

4.00 2.30

1.17 53.50 0.08 4.40 107.00 1.30 53.00 300.00 4.35 4.60 7.30 4.59 3.80 17.00

1.95 5.40 0.17 2.00

5.80 0.18 2.24

19.05 65.00 50.55

19.19 95.00 56.00

1.10 1.25 15.60 7.12 8.00 21.01 21.50 12.50 2.46 15.60

1.60 1.30 18.00 7.20 8.50 21.68 26.15 14.50 2.85

Legend: XD/XB/XS without entitlement to dividends, bonus, split SUS Suspended Applicable to dividends only: TT Trinidad and Tobago US United States Close Price is the weighted average of all trades.

Last Sale Price is the last price at which the symbol traded.

Prices on US$ market are quoted in US$

Businessuite Magazine

Stocks + Investing + money markets

Trinidad and Tobago Stock Exchange Report - Friday, 08 Mar, 2013 Overall Market activity resulted from trading in 11 securities of which 2 advanced, 3 declined and 6 traded firm.

Trading activity on the First Tier Market registered a volume of 164,633 shares crossing the floor of the Exchange valued at $982,849.74. TRINIDAD CEMENT LIMITED was the volume leader with 67,119 shares changing hands for a value of $93,966.60, followed by SAGICOR FINANCIAL CORPORATION with a volume of 48,759 shares being traded for $307,181.70. GRACEK-

ENNEDY LIMITED contributed 20,000 shares with a value of $69,000.00, while NATIONAL COMMERCIAL BANK JAMAICA LIMITED added 11,500 shares valued at $13,025.00.

NATIONAL COMMERCIAL BANK JAMAICA LIMITED enjoyed the day’s largest gain, increasing $0.02 to end the day at $1.13.

Conversely, NATIONAL FLOUR MILLS LIMITED suffered the day’s greatest loss, falling $0.06 to close at $0.60.

Mutual Fund Market, posting a volume of 54,212 shares valued at $1,138,452.00. CLICO INVESTMENT FUND remained at $21.00.

FORTRESS CARIBBEAN PROPERTY FUND remained at $5.00.

PRAETORIAN PROPERTY MUTUAL FUND remained at $3.75.

The Second Tier Market did not witness any activity. FNCU VENTURE CAPITAL COMPANY LIMITED (SUSPENDED) remained at $1.00. MORA VEN HOLDINGS LIMITED remained at $15.65.

CLICO INVESTMENT FUND was the only active security on the

Stocks Advancing:

Security Volume Closing Quote ($) Change ($) NATIONAL COMMERCIAL BANK JAMAICA LIMITED 11,500 1.13 0.02 ANSA MERCHANT BANK LIMITED 266 37.53 0.01

Stocks Declining:

Security Volume Closing Quote ($) Change ($) NATIONAL FLOUR MILLS LIMITED 2,000 0.60 -0.06 ONE CARIBBEAN MEDIA LIMITED 9,770 16.12 -0.02 ANSA McAL LIMITED 1,236 66.65 -0.01

Stocks Trading firm: Security Volume Closing Quote ($) TRINIDAD CEMENT LIMITED 67,119 1.40 CLICO INVESTMENT FUND 54,212 21.00 SAGICOR FINANCIAL CORPORATION 48,759 6.30 GRACEKENNEDY LIMITED 20,000 3.45 NEAL & MASSY HOLDINGS LIMITED 3,317 61.50 SCOTIABANK TRINIDAD & TOBAGO LIMITED 666 67.00 In Friday’s trading session the following reflect the movement of the TTSE Indices: * The Composite Index advanced by 0.44 points (0.04%) to close at 1,083.73. * The All T&T Index declined by 0.21 points (0.01%) to close at 1,758.06. * The Cross Listed Index advanced by 0.13 points (0.24%) to close at 53.34. * The Composite Index comprises all Ordinary companies. * The All TTSE Index comprises Trinidadian companies only. * The Cross Listed Index comprises companies originating outside of Trinidad & Tobago.

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13

Stocks + Investing + money markets

Economic Indicators - March 7, 2013

Foreign Exchange Trading Summary Annual Inflation - March 2013

Quarterly NIR - March 2013

Monthly NIR - March 2013

Monthly Inflation - March 2013

14

March 11th 2013 Buy Sell US$ 96.5486 97.2875 CAD$ 93.2067 95.4615 GBP$ 142.8548 145.9800 YEAR USD VS JMD 1971 USD$1.00 = J$0.77 1972 USD$1.00 = J$0.77 1973 USD$1.00 = J$0.90 1974 USD$1.00 = J$0.91 1975 USD$1.00 = J$0.91 1976 USD$1.00 = J$0.91 1977 USD$1.00 = J$0.91 1978 USD$1.00 = J$1.41 1979 USD$1.00 = J$1.76 1980 USD$1.00 = J$1.78 1981 USD$1.00 = J$1.78 1982 USD$1.00 = J$1.78 1983 USD$1.00 = J$1.92 1984 USD$1.00 = J$3.94 1985 USD$1.00 = J$5.58 1986 USD$1.00 = J$5.50 1987 USD$1.00 = J$5.51 1988 USD$1.00 = J$5.51 1989 USD$1.00 = J$5.77 1990 USD$1.00 = J$7.24 1991 USD$1.00 = J$12.22 1992 USD$1.00 = J$22.99 1993 USD$1.00 = J$25.11 1994 USD$1.00 = J$33.29 1995 USD$1.00 = J$35.35 1996 USD$1.00 = J$37.25 1997 USD$1.00 = J$35.51 1998 USD$1.00 = J$36.65 1999 USD$1.00 = J$39.20 2000 USD$1.00 = J$43.08 2000 USD$1.00 = J$43.08 2001 USD$1.00 = J$46.08 2002 USD$1.00 = J$48.54 2003 USD$1.00 = J$57.93 2004 USD$1.00 = J$61.34 2005 USD$1.00 = J$62.50 2006 USD$1.00 = J$65.88 2007 USD$1.00 = J$69.06 2008 USD$1.00 = J$72.92 2009 USD$1.00 = J$88.49 2010 USD$1.00 = J$87.38 2011 USD$1.00 = J$86.08 2012 USD$1.00 = J$88.99 Businessuite Magazine

Stocks + Investing + money markets

WHERE DO YOU PLAN TO INVEST?

O

nce you accumulate some amount of savings, the next question that you face is its investment. The number of investment options is so large that one finds it difficult to make a choice. This article puts together some of the general considerations for investments and a systematic approach to select a particular are or sector of investment.

Defining Investment Objectives Before making investment decisions, one has to review several matters. This review leads to eliminations of some of the investment options and narrows down the choices for final decisions.

Some of the factors taken into consideration while defining one’s investment objective are: • Place of stay and how long in the future • Amount available for investment • Ability to take risk • Tax Considerations • Living accommodation • Dependents • Life Insurance in place • Period of investments • Attitude towards risk • How the savings are to be used • Availability of information • Ease and speed of communications • Time available to service investments • Forecast of the future prospects A detailed review of the above and other personal factors will enable one to define one’s broad investment objectives and eliminate some of the investment options.

A profile of the investment objectives would provide a clear indication of: • Periods of investment for different amounts • Degree of risk for different amounts • Income or growth preference for the different Businessuite Magazine

By: Sushil K. Jain FCCA, FCMA, FCIS

amounts • Currency preferences/allocations.

You may also like to allocate some funds to each of the above. For example, you may initially decide to have the allocation as follows:

EXAMPLE

% of Savings Period Risk Income/Growth Currency

25% 10 years High Growth Japanese Yen

25% 5 years Medium Growth US Dollar

25% 3 years Low Income Pound Sterling

25% 1 year Nil Income Pound Sterling

(This is an example and not a suggested allocation).

The allocation of funds will be based on the objectives, ability to take risks, and one’s view of the future prospects of different investments. For example, if you do not want to take any risk, you may invest all your savings in a fixed deposit in a bank or a building society. Alternatively, you may like to invest the funds in a high growth mutual fund in some selected markets or worldwide.

Once the above profile is done, the next step is to choose the area in which you would like to invest.

This involves consideration of the prospects of the various markets, countries, currencies, industries and services, and making your choices.

Selecting Specific Areas of Investment In order to select a specific area, the following step by step can be helpful: 1. Study the Environment • Read the financial newspapers, magazines, market reports, investment commentaries by various financial institutions/advisors, etc. to get a broad picture of the world markets. This may be done over a period of several months.

15

Stocks + Investing + money markets • Discuss with colleagues, friends and advisors.

• Reflect on the information and views, pros and cons of various options.

• Form some tentative views as to the future and eliminate some market/options. There may be areas of political uncertainty, currency devaluations, low growth rates or where the market indices are very high, and so one.

different currencies.

• Reflect on the prospects.

• Prepare your own forecast of the currency fluctuations.

• Use your own forecast in the selection of the countries/markets in which you want to invest.

You may forecast wide currency fluctuations and therefore decide to invest in a multicurrency fund.

2. Select the Markets

5. Select the Industries

For the remaining markets, the following steps may be taken:

Within the specific markets, different industries or sectors of the economy are likely to show different levels of growth. Hence, you have to choose the industries/sectors in which you will invest by: • Studying the economic changes on the horizon e.g. government policies, foreign investments, technological or social changes, and so on.

• Selecting the industry or service sectors which are likely to benefit most from the changing scenario. In a fast changing economic scenario, you may select a special opportunity fund.

• Study the latest market position and commentaries on these markets-this should include study of the political and economic factors, growth rate forecasts, development plans, capital flows, etc.

• Think about the markets/countries where you want to invest • Consider the effects of currency fluctuations on the choices made.

• Decide the broad market areas e.g. Europe, Asia, North America, Emerging Markets, etc in which you to invest. Then decide the percentage allocation to each area. You may decide not to invest in specific markets but on a worldwide basis. Alternatively, you may decide to invest n specific countries e.g. China, India, etc.

Having made the above choices, you will then decide about the appropriate investment vehicle in the area of your specific choice. Here again, you should consider the pros and cons of each option before making a decision.

Conclusion

3. Select the Countries Study the present situation and prospects Select the countries which you feel offer excellent prospects of growth and currency stability.

4. Consider the Currency Implications • Consider the past trends and future prospects of

Selecting the right area of investment is vital to benefit from your investments. The number of options is vast. There are exciting investment opportunities throughout the world. Why should you miss them?

The rewards can be great. It is hoped that the above step-by-step approach will be found helpful in the process.

Comments may be sent to: sjainy2k@yahoo.com

360 Signature Events is a Caribbean company specialising in the planning and execution of Corporate and Marketing Events including, Exhibitions, Conventions, Conferences, seminars, Sporting and Hospitality Events, Road Shows, Brand Promotion, Product launches, Incentives and Special Event.

www.360signaturevents.com 16

Businessuite Magazine

News

NEWS Local & Regional NASSAU VAT sparks cash flow fear Top manufactures in the country are sounding off on the possible impact of value-added tax (VAT) on cash flow. According to the government White Paper, manufacturers importing raw materials into the country must pay a 15 percent VAT off the top. While industry leaders understand the need for the tax, concern is being raised on their inability to recoup this cost until the final point of sale. Carrying an additional 15 percent burden for a month, or perhaps longer, could have a major impact on local businesses. “I am not sure I understand the logic behind that,” said Walter Wells, president and CEO of Caribbean Bottling Company (Bahamas). “For an importer with raw materials, that is not an issue.

I’m not buying it locally. So I’m not sure what the urgency is to pay on an imported raw material when I haven’t manufactured it or sold it.”

Acknowledging that “something must be done” by government to generate more revenue, Wells told Guardian Business that the white paper could use some tweaking before VAT comes into force next summer. “It has potential to impact cash flow,” he said

BLIDC convenes ‘in crisis mode’ For the first time in years, leadBusinessuite Magazine

ing manufacturers in The Bahamas held an intimate meeting in Nassau last week to discuss an industry “in crisis”. The Bahamas Light Industry Development Council (BLIDC), resurrected earlier this year, is growing increasingly vocal on the issues of value added tax (VAT), accession to the World Trade Organization (WTO) and the ever-rising cost of business. Top entrepreneurs packed the pews at the Lutheran Church of Nassau in what members hope is just the beginning of a new and powerful body. ”We do have a problem,” said Geoff Knowles, the operations manager at Aquapure. “We can’t wait for the politicians to make all the decisions for us. We have to be part of the process and we have less than two years to do it. We’re in crisis mode right now.”

CAYMAN ISLANDS SPIKE IN HEALTH INSURANCE COSTS Cayman Islands residents on the standard healthcare plan can expect premiums to go up by at least 50 per cent over the next year.

The cost increases, a result of legal changes mandating improved coverage, will be rolled out over the next 12 months as policies are renewed.

A range of additional benefits have been added to the Standard Health Insurance Contract, the ba-

sic minimum coverage plan that every policy must include. The costs associated with those added benefits could even see some premiums double in price depending on risk factors and the type of coverage plan, the Health Insurance Commission has said. The exact amount that each policy will increase will vary depending on risk factors and the level of coverage. About one in three Cayman Islands residents are on the basic plan (SHIC) and they will see the most significant increases.

BARBADOS Car importers rap Customs SMALL IMPORTERS OF vehicles are incensed that the Customs Department now requires them to produce a document which they say is not available to them. Crying “sabotage,” they have sent a letter to the Comptroller of Customs, complaining that the export declaration form, known as the C5010, was not customarily used in Barbados and was an internal document usually held by vehicle suppliers. The consortium of vehicle importers’ representative, Judy Forde, told the DAILY NATION yesterday that Customs had requested submission of the C5010 form in a February 8 circular. “We did the research and the C5010 stays in Japan,” she said. “We don’t know how to get that form, and if the small importers are being man17

NEWS dated to produce it, then it has to be for all importers.”

of cotton last August, started reaping in January this year, and still had three acres to be picked.

MANUFACTURING OVER TRINIDAD TOURISM - Barbados A University of the West Indies (UWI) academic has gone against the grain and argued that the manufacturing sector, rather than tourism, is the single biggest factor in improving Barbados’ economy. Ken Blawatt, professor of entrepreneurship and marketing at the UWI St Augustine Campus in Trinidad and Tobago, said figures from the Central Bank of Barbados and various Government ministries were “all wrong” and the sector contributed way more than five or six per cent of the island’s economy.“Over the last six to eight years we’ve been studying Barbados’ manufacturing.

We’ve come to the conclusion that manufacturing is a very important part of your economy. We have established clearly and unequivocally that up to 25 per cent of your economy in Barbados comes from manufacturing, he said.

Cotton-picking problem Cotton growers are finding it difficult to attract pickers to their fields.

At least twice this year, The Barbados Cotton Growers’ Association has called on the public to fill more than 30 vacancies for cotton pickers at a number of plantations, including Carrington Estates, St Philip; Rock Hall Plantation, St Peter; and Spring Hall Plantation, St Lucy.

The plantations were seeking motivated individuals, who will be paid $1.50 per pound of cotton.

However, Audley Croney, manager of Carrington Estates in St Philip, told the WEEKEND NATION yesterday he had planted nine acres 18

NP records $34.9m profit for 2011 Gasoline distributor National Petroleum has posted a profit after tax for its year ended March 31, 2011 of $34.9 million. This was lower than its $64.9 million profit in 2010, the company stated in published financial statements yesterday. NP chairman Neil Gosine said the reduced profit included a prior period adjustment following the settlement of employee negotiations.

In his chairman’s statement on NP’s results for 2011, Gosine said the NP Group was supported by its Dominica branch and its Natpet subsidiary and has “demonstrated stability amidst growing competition and an unsettled global economy”. This year the NP Group will embark on a rebranding exercise which will “distinguish it from the rest”, he said.

Bharath: Chavez death will not impact trade with T&T Venezuelan President Hugo Chavez’s death on Tuesday is unlikely to have any impact on trade between that country and Trinidad and Tobago, Trade Minister Vasant Bharath said yesterday.

In a telephone interview with the Express, Bharath said he met with new Venezuelan Ambassador Coromoto Godoy Calderon last week to discuss the possibility of a T&T trade mission to Venezuela to facilitate an improved trade relationship. He said he was looking at some time in June or July for the mission to take place.”We talked about developing trade links be-

tween our two countries more so than in the past. They have a relatively strong economy regarding purchasing power... I feel the time is right for developing more missions and trade to the countries,” Bharath said. This country does not do enough business with Venezuela, despite it’s proximity, he said. He attributed the lack to the language barrier, as it has been easier in the past to do business with English-speaking countries.

Govt looking at better energy pacts Developing the downstream energy sector is high on Government’s list of priorities regarding diversifying the economy and as such, the Ministry of Energy is seeking to enter into a more favourable partnership that will facilitate this.

This was stated in a ministry press release yesterday following the scrapping of a $30 billion methanol project in Trinidad and Tobago which this country was negotiating with Saudi Basic Industries Corporation (SABIC) and its Chinese partner Sinopec.

In the release, the ministry said all parties “mutually agreed to discontinue negotiations for the construction of a methanol to olefins and methanol to petrochemicals complex, as the parties could not reach agreement on the fundamental issues of natural gas price and the term of supply.”

The ministry said SABIC and Sinopec, in a letter on January 17 indicated, “Should the circumstances change, SABIC-Sinopec would be interested to pursue renewed discussions with the objective to invest in manufacturing of value added chemicals and plastics in your country.”

Businessuite Magazine

Entrepreneurship

Selling Your Business

I

am often asked by business owners and entrepreneurs about the process of selling their business. Most business owners don’t always start their business with the intention of selling it, but it is fair to say that many do think about this as their company grows, they are approached or when they reach a certain stage in their life. Selling your own business can be one of the most rewarding elements in the business life cycle. However, it can be challenging, emotional and complex. It needs to be managed carefully.

Being properly prepared is key.

Planning for a sale will not only improve your chances of selling, but it can also have a dramatic impact on the price on the sale itself! Think about selling your house. Would you really start bringing potential buyers around for viewings before the walls were painted and before the large cracks had been covered? And, more importantly, don’t you think that you could achieve a better price if you had applied for planning permission, even if the work hadn’t start, to demonstrate to a buyer how much better the house could be?

I was surprised to learn that over 80 percent of business owners who try to sell their business, actually fail. With that in mind I decided to partner with industry leading expert Paul Herman to launch Bluebox Corporate Finance Group.

The aim is to start working with business owners earlier on their journey to exit to ensure that businesses are thoroughly prepared at the time they are “presented” for sale.

Businessuite Magazine

There are a number of things that you can do to ensure that your business is properly prepared for sale, but here are some of my top tips:

ness, the split of business in different territories. Make sure that you understand what these value drivers are as they will all be key to improving the price that someone will pay.

Think about your potential Management team planbuyers ning Long before you put your business up for sale, you need to consider who is likely to be interested in buying it. Will it be a competitor, an overseas buyer, or someone working with a similar customer base?

The reality is that each buyer will be looking for something different so start to think about what is attractive to a wide range of buyers at an early stage as it is likely to pay dividends.

Make sure that the management team you are working with are aligned to future success, especially if there are members of that team that are critical to the success of the business. A buyer will want to ensure that the team is able to support the business going forward and it may be that some share options are used to not only incentivise the team, but also to improve the price that you achieve.

Presentation of the “opporPrepare for due diligence tunity map” Buyers do not pay for what has happened in the past. Yes, they may be interested in the trends that are evidenced through historic trading, but the reality is that any price that they will pay will be driven by what they believe the business can achieve in the future. It is why the presentation of your growth opportunities, or the “Opportunity map” as we call it at Bluebox, is so important.

Review key value drivers Buyers will “value” your business in a number of different ways. Most will look at the level of your profitability, but most will also be driven by other metrics; the number of long-standing customers, the turnover in different areas of the busi-

Due diligence is a necessary evil for most sale processes. It is the time during which a buyer takes a very close look at all of the key aspects of your business. Key to a successful sale is making sure that you are prepared, well in advance. As well as ensuring that your documents are properly collated, you should be careful to ensure that the documents and picture that you present do not have any holes in them that may give rise to a dreaded “price chip”.

James Caan CEO of Hamilton Bradshaw

19

Philanthropy

Connecting Youth Across Borders: A Positive Impact on Jamaica’s Economy … AND Realizing Dreams “There should be no barrier between a world of knowledge and a world of people hungry for knowledge,” Jamaica’s beloved Barry Chevannes once said. This is a foundational philosophy in a fresh approach designed to provide tangible opportunities for the inner-city youth of Jamaica. In an economically troubled climate, Jamaica’s youth could prove to be its most valuable and treasured capital – social capital. The Diaspora Youth Connect (DYC) program unites youth with a mentor, and most importantly, the opportunity to bring their entrepreneurial dream of launching and successfully operating their own business to fruition.

The Diaspora Youth Connection (DYC) Project is a partnership with The Jamaica Diaspora Institute (JDI), Cuso International, and the Mona Social Services University of the West Indies Mona Township project.

“The DYC project has two important objectives. The first is to con20

nect young people in Jamaica with young people in the Diaspora. The second is to combine the capacities of young people – future leaders towards social and economic development of themselves and their communities. We are pleased that we have been able to make a practical start of this project through the strength of this partnership. It has allowed us to work with the August Town Community to do an Asset Assessment of the skills and creative talents of young people which we can direct to productive and income-earning activities while building community harmony and development. We are excited that the USAID and CIDA have also joined in this exciting venture,” said Professor Neville Ying, Executive Director, of The Jamaica Diaspora Institute, an institution established to strengthen the engagement and partnership between Jamaica and its Diaspora worldwide in our quest as a nation for sustainable development.

“This project will seek to leverage

human and financial resources that are located in the Jamaican Diaspora toward the strengthening of the capacity as well as the entrepreneurial and business management skills from a number of target communities. The use of a web-portal for knowledge sharing, communication, cyber-mentoring, and resource mobilization will be a central strategy. The activities of this project are aimed at reducing poverty in these communities and providing youth with a pathway leading to sustainable financial self sufficiency, leadership and empowerment,” said Cuso Country Director, Tarik Perkins. Cuso International is a development organization that works to reduce poverty and inequality through the efforts of skilled volunteers.

Jamaica will soon welcome and be host to eight international volunteers, including future leaders in the Jamaican Diaspora. Two volunteers will arrive from Canada and six from the United States.

Upon arrival, international volunBusinessuite Magazine

Philanthropy teer mentors will be matched with teams of four keen, entrepreneurially-minded youth from several vulnerable communities including August Town, Trench Town, Mountain View, Flanker, Rose and Farm Heights, Fletcher’s Land, and Tower Hill. The youth will lead teams of 10 in their community and will collectively learn how to conduct Participatory Asset Based Assessments which focus primarily on the unique skills of each young entrepreneur, and ultimately create youth-led development projects and businesses.

Each international volunteer will work for four months on-theground in their assigned, respective communities and subsequently maintain their connection and relationship with their team in an e-mentoring capacity for three months when they return to their country of origin.

Dr. Olivene Burke, the Executive Director, Mona Social Services and

UWI Township is extraordinarily passionate about the partnership.

“The goals of the Mona Social Services UWI Township are to integrate the disadvantaged innercity communities that surround the University of the West Indies with the campus, reduce crime and violence, and build social and intellectual capital within these communities. The MSS Township has benefited tremendously from the partnership with the JDI, Cuso International in realizing these goals.

We therefore welcome the idea of having more volunteers involved in the Township. We have been concentrating on the Greater August Town Areas with our first Cuso volunteer, Mr. Doudou Kalala, the Cuso Volunteer who has been a great asset in building capacity through community participation in Greater August Town. The phase of the asset mapping has begun in earnest. The next leg is to convert the data and create workable inter-

ventions. We continue to expand the Township and look forward to other volunteers being a part of the Mona Common community, another settlement in close proximity to the University of the West Indies with which we have started working.”

The bottom line: international connections, providing opportunities to manifest distinctive ideas, while creating lasting bonds are the combined keys to success. The precise matching of international youth, from the Jamaican Diaspora and beyond, with enthusiastic business-minded youth in Jamaica is the first step in this launch. Ultimately, the DYC project will design concrete business projects and consequently make its unique contribution to the development of vulnerable communities in Jamaica and the restoration of the economy.

Proudly Serving Jamaica Since 1929

Taste Jamaica Jamaica Producers Group www.jpjamaica.com

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21

Marketing + Advertising + Media

5 Ways Brands Are Cutting Out Agencies

A

gencies love “Mad Men.” One reason: It shows when they were at the zenith of their standing with clients. That’s slowly gone away, along with the culture of drinking copiously during the day.

Agencies are in a perilous position. As Digiday’s Confession series has shown, this is a known fact. At the root of all this is the tendency of agencies to cede power — to brands, to tech platforms, even to publishers. Digiday spoke with several sources on all sides of digital media — agency, brand, publisher, platform — to determine the five biggest disintermediation challenges now facing agencies.

Service-driven content creators BuzzFeed, Yahoo and Vice all have one thing in common: They provide creative services for brands who advertise on their platforms. Think of Virgin Mobile’s partnership with BuzzFeed. Thursdays, Virgin meets at BuzzFeed’s office, where an editorial meeting takes place for about 90 minutes. The teams collaborate around story ideas and go over the numbers of the previous week’s performance. Based on that, plans are set for the following week’s publishing schedule. With services like these, by a publisher, there’s not really a need for the agency.

“Our brand strategy is to stay one step ahead or alongside the Virgin fan,” said Ron Faris, head of brand marketing at Virgin Mobile. “What’s unique is we had our own staff of writers that put the content together. Working with BuzzFeed was like having an always-on, 24-7 newsroom.”

22

Getting closer to startups Startup incubator programs like Mondelez’s Mobile Futures program and the PepsiCo10 program are good examples of how brands are cozying up to startups. Whereas agencies traditionally were the liaison between brands and their ad tech providers, brands are now looking to take out the middle man for direct relationships.

The brand center of excellence is another example how brands are forging close ties with ad tech and startups. Companies like PepsiCo, Kraft, Nestle Purina, GE and MasterCard have these units set up within the organization to evaluate platforms, devices and channels. These teams’ sole purpose is to filter out all the noise of ad tech and figure out what the opportunities are for their respected brands. That’s made them a key constituency to getting in with the world’s largest marketers.

Moving marketing disciplines in-house Brands have recently been taking their social media management in-house: Nike, Campbell Soup, MasterCard and others are realizing that they don’t need agencies for the day-to-day stuff, claiming a truly “authentic” relationship is only possible if the brand handles the dialogue with consumers.

According to Carmen D’Ascendis, director of global marketing at Jack Daniel’s, the brand’s Facebook and social media engagement scores are up since the whiskey maker formed an in-house social media team. That’s not to say that Jack Daniel’s

does not use agencies. Jack Daniel’s inhouse social team does the day-to-day stuff while its agencies help with strategy and campaigns.

“Some companies outsource, and then they have 23-year-old digital natives tweeting and texting and such on their behalf,” D’Ascendis said. “To me, that seems not the most effective way to engage with your consumer. The reason is, it’s unclear if they understand your brand enough. I don’t believe you have to be a digital native to get digital. How does Fisher Price figure out toys? They don’t have kids doing their marketing, that’s for sure.”

The same is happening on the mediabuying side. It never made sense for most marketers to do media buying in-house. But the rise of programmatic ad buying means instead of needing a 100 media buyers, only four sharp analytics-minded people are needed to use automated ad platforms.

At that point, it makes sense to do more inhouse.

“A lot of brands are finding that working with a centralized trading desk isn’t really worth it. With all this money going to Facebook and publishers and technology companies giving brands alternatives, agencies certainly are being squeezed from all sides,” said a publisher who asked to remain anonymous. “If you are a smart-enough brand, you realize you could use programmatic buying, and the service providers are [providing] marketing services. These and other technology companies are becoming the new agencies. The agencies aren’t really bringing anything new to the table, so when a brand is looking to decrease their spend, guess what they’ll be doing.”

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Marketing + Advertising + Media Recruiting data scientists

Target’s data scientists helped the retailer target ads at women in their second trimester of pregnancy. This is a time when expecting mothers begin to buy things like vitamins and maternity clothing, things Target sells. By identifying women in their second trimester, specifically, Target thought it could then make these women customers for years because once they started buying diapers at their nearest Target, they’d start buying paper towels, cereal and soda there as well. Data and analytics are things a lot of brands lean on their agencies for. But big brands are realizing that sifting through all the data the Internet produces is a full-time job, and it’s more cost-effective to have someone on the team handling it full-time than having an agency bill you for it.

“We’re living in a fast-paced world where we need to gather and analyze data to make intelligent business decisions in a matter of

seconds and minutes,” said Kasey Skala, digital communication manager at Great Clips. “Brands who house these decisionmakers and producers in-house have a clear advantage over those who source these capabilities elsewhere.”

Take Publisher’s Clearing House as another example. The company has an enormous stat team. It has more than 10 PHD statisticians working full time. Data is a big part of everything PCH does, and it handles all of the mining of data in-house.

“We don’t trust external agencies with this data,” said Kenn Gold, director of content development at PCH.

Dipping into the agency talent pool

Campbell Soup’s Adam Kmiec used to be with Leo Burnett and Draft. PepsiCo’s Shiv Singh used to be with Vivaki. “[Companies] are re-trenching and re-architecting their brand teams and support organizations to build leadership capabilities in the age of content, consumer conversation and engagement,” said Steve Cook, former CMO of Samsung. “I believe that CMOs are looking outside of the traditional brand person profile at people with agency experience, digital and creative in particular, to import skills and accelerate consumercentric work to build engaging content and conversations.”

Source: www.digiday.com

A lot of brands are hiring former agency and ad tech execs to join their marketing teams.

Emerging Technologies Demand New Marketing Fundamentals Marketers Who Try to Respond with Today’s Practices and Skills Will Fail

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merging technologies--from smart objects and wearables to behind-the-scenes taxonomy tools--are radically changing how customers think, act and relate to others. And in turn, forcing a rebuild of how brands must go to market on every dimension. It’s clear that marketers who try to respond to this seismic shift with today’s practices and skills will fail. So how can marketers adapt?

There are four fundamentals to consider: Design is the new marketing The efficacy of turnkey marketing solutions used to engage with customers is waning. Your brand is more than what you say it is; it’s also what you produce and the experiences you create. This means in order to differentiate and go deeper with customers, brands must now design their own unique interactions and experiences. Marketers can take a page from areas such as game design--for years this practice has woBusinessuite Magazine

ven stories, personas and smart objects into virtual environments, allowing people to play and achieve things together and alone. These play arenas can help create positive sentiment that persuades customers to follow the path to purchase. To master this fundamental, marketers must look to add new skills such as those of game designers or content producers to the standard mix of copywriters, art directors and agencies.

Value is the currency Value has always had its place in marketing-- brands are built upon its promise. But what’s different now is the efficiency and speed of the value exchange, which when understood, gives marketers more powerful tools to acquire customers and build-long term loyalty. But it’s important to remember that consum23

Marketing + Advertising + Media speculatively. Expect to see more and more of these consumer controlled software agents brokering brand relationships and permissions.

Nature thrives on complexity and so too does innovation. As of yet, few marketers are meeting the demands that accompany this seismic shift in consumer behavior, and the effects are showing. .” ers are now acutely aware of the barter value of their data and the power they wield in exchange. As a result, marketers must demonstrate real value to gain customers. Tactics such as content marketing and ‘freemium’ models demonstrate an understanding of giving first to receive in return. As Evernote CEO Phil Libin has said, “The easiest way to get one million people paying is to get one billion people using.”

Agents broker brand relationships Even when people and devices use a brand’s app or website, there are multiple levels of mediation at play--hardware, operating systems and browsers are powerful ecosystems each with their own gravitational pull and controls. This is a new type of intermediary--agents that are intellectually curating consumers’ experiences and, in doing so, mediating the brand relationship. Google Now is one such disruptive personal agent for consumers, repositioning the search paradigm from on demand to always on.

The agent proactively searches for relevant content for users based on web history, location and other contextual cues before presenting the information

People are the regulators Thanks to new tools and channels, our connected society has taken the reigns of control when it comes to regulating brand interactions. But this isn’t all bad news for marketers. With more intelligence based upon more sophisticated permissions, brands have the ability to move from rudimentary advertising to more nuanced advice. For instance, CRM systems in 2012 began to live alongside richer consumer data gained from social graphs. Publishing systems morphed into dialogue systems through social and web 2.0; and B2B and B2C technologies converged to provide more flexible people and group-based systems. Yes, brands should continue to see consumers as the star of the show, but now it’s time to support them intelligently or else risk being locked out completely.

Nature thrives on complexity and so too does innovation. As of yet, few marketers are meeting the demands that accompany this seismic shift in consumer behavior, and the effects are showing. More than half of US online adults are already annoyed by the amount of advertising they see and 37% would rather not be contacted by brands at all, according to new Forrester data. The brands that will survive this disruption will be those that embrace the growing complexity of the consumer/brand relationship.

The result will be a marketing mind shift that leads to competitive edge innovations.

ABOUT THE AUTHOR Anthony Mullen is a senior analyst at Forrester Research.

Original source www.adage.com

“We have moved away from traditional advertising to compelling conversations and experiences between Brands and consumers.

Contact us at: 1-876-631-5418 (P & F) I 1-876-280-9192 (M) I amkcommunications@gmail.com CLICK is owned and operated by AMK Communications Limited

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Work from Home vs. the Office “I really don’t see the larger and traditional establishments running with the idea of their staff working from home.” Francis Wade ”

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obs are currently in demand and the more mention is made of this harsh reality the more we wonder whether things will ever get better?

However, as the job hunt picks up momentum, the realty of those already in a secured job situation to adequately meet their financial needs is discouraging. So the question is posed, “Why bother?” One employee bemoaned the fact that he did not even know what a disposable income looked like. “Every month, he said, “All I have is enough money to bring me to and from work until I pay off my loans.” And that included his car loan which would go on for 3 more years, his mortgage of a house in Portmore Pines, and his existing student loan as he dreaded the thought of his name appearing in the local papers. Sounds familiar? Many persons in our little island today are encountering similar difficulties and have begun to investigate and explore (being the creative people that we are) their options as it pertains to finding online work from home job opportunities or owning their own businesses.

Although we do entertain a culture of hanging our baskets higher than John’s basket, the ambitious nature of our people seem to be contradicted by our actual economic realities, so we work hard, but hardly benefit from our efforts. As the economy fights to stay on top of things, the creation or acceptance of new and innovative ways of earning a living becomes crucial to our survival.

Having heard of and explored what entailed a work from home job situation a few things will become clear. Some of these sites advertising work from home jobs are in fact scams. The expert will warn persons setting out to establish themselves in this

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By Harriett M.C. Clarke

relatively new to Jamaica phenomena that once moneys are being ask for upfront alarm bells should go off. The experts will tell you that in order not to be scammed one must thoroughly research the company. If there is not enough information to inform your decision it is best to leave that company alone.

Now some of the most common work from home jobs involves data entry or freelance writing and blogging which are some of the more popular gigs.

Now owning one’s business is another option which Jamaicans may feel more comfortable launching into. However, a most disconcerting mindset which Jamaican’s face is that instead of those graduates from distinguish institutions such as the Mona School of Business with qualifications in Business Administration utilizing the knowledge garnered from these acclaimed institutions to create their own business they seem to feel more secured in working a regular 9-5 job. Civil servants syndrome.

A family of civil servants breeds more civil servants.

However, creating and owning your own business is no easy task as much effort and a little bit of luck is required to sustain a business. And as the common adage goes, money begets more money. Creators of new businesses have to face financial institutions that are reluctant to disburse funds to start up business. Consequently, many start up business have to finance themselves for at least two years before they are even considered for a loan. An organisation such as the Small Business Entrepreneur Support Centre is just one institution which will not only lend to start up businesses, but they partner and lend support to these businesses by way of advice and sound direction in terms of developing and

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Real Estate writing a business plan for you business to include detail guidelines as to its projections for each year.

This will no doubt make a business avoid the pit falls and costly mistakes usually made in the first year of a business life which determines the whether the business sinks or floats.

What the Private Sector Organisations may have to do to assist the process of our changing work environment , given our current economic status, is allowing their employees to work from home. Francis Wade, a Jamaican Author of the book “Bill’s Im-Perfect Time Management Adventure” uses his fictionary protagonist Bill to emphasize the pros and cons of this scenario with the hope, that Jamaicans will catch on and add to their skill set critical time management skills to counter the possibility of wasting time whether it be in the work from home environment of the work environment. Mr. Wade indicates that he can only see in the future small to medium size business taking on the challenge of employing a virtual staff component to carry out the operations of their business. “I really don’t see the larger and traditional establishments running with the idea of their staff working from home. They need to micro manage and these establishments have a cultural bias to having their own office space and entertain the idea that the more assets they own and control including human labour the more lucrative the business is. They need for their competitors to see and their clients to be able to walk into a physical space that they call their own.”

Be that as it may this is a real option for the nations private sector organisations to explore, however, Jamaicans will now have to “Log on “ with the advancing technology and make do with their laptops and tablets as they do with their speaking devices aka Blackberrys. It is understood that these devices can be employed significantly to eliminate persons having to spend on clothes for work, gas for commute

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and time for traffic jams and build up. This could be seen as the way forward for the wage lamenters as they can still communicate with work and be accountable to the organisation that hired them. As great and as dynamic as this might sound if the idea of a flexi work week has not yet caught on how far will the acceptance of this phenomenon go? You see our dilemma did not just begin yesterday, but we can only hope that an economic crunch will cause a paradigm shift in our priorities and we will begin to see our tablets and Blackberrys as not just devices (or vices) to keep up with the Kardasians but devices which will help to place the unemployed professional back in an employed state.

Be that as it may this is a real option for the nations private sector organisations to explore, however, Jamaicans will now have to “Log on “ with the advancing technology and make do with their laptops and tablets as they do with their speaking devices aka Blackberrys. ”

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Working from home vs. The office from a time management perspective

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he recent furor brought on by Yahoo’s CEO Marissa Mayer surfaced up a growing concern: are employees able to manage their time as effectively at home as they can at the office?

The obvious objections were trotted out: at home there’s the distraction of kids, errands, the garden, television and Facebook. Are employees really able to manage their time well enough to block out activity that the company has no interest in funding?

However, these objections obscure a larger debate - how does an employee remain immune from distractions everywhere?

In a conversation with a local CEO recently, he admitted the truth. Since assuming the position he has had no time to think. His work environment is so driven by distractions that he is forced to either arrive at work early or leave late in order to get difficult work done. Regular working hours are all about fire-fighting.

The fact is, most employees have great difficulty avoiding distractions in the workplace. They are given smartphones, and then expected to answer them regardless of what else is happening around them.

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They are given email, and told to “be responsive” which means interrupting whatever worthwhile work they were doing to slavishly check their Inbox... just in case something important has arrived. They are forced to attend useless meetings, and when they aren’t in meetings their colleagues interrupt their productive solitude with drummed up emergencies that can safely be ignored. When that colleague is a manager... well, I know of employees who fake being sick just so that they can stay at home in order to avoid an unproductive, disruptive boss.

Add to that the modern tendency to cut costs by cramming employees into cubicles with low walls, ensuring that every whispered conversation is cause for wide-scale interruption. Bombarded by noise, interruptions and unnecessary meetings, it’s no wonder that most employees dream of quiet kitchen tables en their empty home where they have complete control over their environment.

Yahoo hasn’t solved anything by forcing people to return to unproductive offices. I predict that they’ll soon come to realize this fact.

Francis Wade is the President of Framework Consulting and the author of a new book - “Bill’s Im-Perfect Time Management Adventure.” columns@fwconsulting.com

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Trends and Developments

Hotel Office Space, by the Hour

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omewhat by default, hotel lobbies, business centers and the open space around meeting areas have long functioned as places to meet, network and get work done, although workers’ growing ability to be connected without being tethered to a desk has accelerated the trend.

Now, some hotels are starting to manage visitors’ previously ad hoc use of seats, tables and nooks — and, in some cases, charging for it. For the hotels, the space has become an untapped source of additional revenue and new customers who live and work nearby.

Sonja Fisher, a sales engineer at the software company ParAccel, is among them. “I’ve worked in Starbucks, apartment building conference rooms, restaurants, libraries,” she said. “Hotel lobbies have become very convenient.”

Ms. Fisher said that paying to guarantee use of a suitable work space would be a worthwhile tradeoff. “I could see myself using it or even my company taking advantage of it. We’re a small company and we have limited conference space,” she said. “I can see where they’d be O.K. with expensing that.”

Julie Germany, vice president for digital strategy at the DCI Group, a public affairs consulting company, said she preferred lobbies and other hotel public 28

spaces to conference rooms for networking and collaboration. “It’s a more casual setting,” she said.

“It’s a much more outgoing atmosphere. People are more open to talking.”

That informality can be a double-edged sword, though. Travelers have no way of knowing beforehand if a couch, table or nook will be available, and the amount of traffic passing through — especially when the hotel bar is nearby — may make serious or confidential discussion difficult.

Nancy Butler, a speaker and business coach, has used hotels to meet clients after giving up her physical office, she said, but privacy is always her top consideration. “We need to be able to speak without everybody around us overhearing,” Ms. Butler said. When picking a place to meet, she said, “it has to provide for confidentiality, so I will not choose a place where I don’t have a good sense of what it’s like.”

The second element on Ms. Butler’s wish list, after privacy, is table space for putting out paperwork and taking notes. “If I have to do that in my lap, that’s tough,” she said.

Mark Gilbreath, chief executive of LiquidSpace, an online booking platform that offers short-term work Businessuite Magazine

Trends and Developments spaces by reservation using a business model resembling the one used by car-sharing companies, said he had found that “people are increasingly leaving work to get work done.” Hotel space makes up about 10 percent of his inventory, Mr. Gilbreath said, and is the fastest-growing category in the 250 cities across the United States the site serves.

Marriott offers what it calls Workspace on Demand at roughly three dozen Marriott Hotels & Resorts, Renaissance Hotels and Courtyard by Marriott hotels, primarily in the San Francisco and Washington areas.

The spaces include high-top tables, alcoves in the lobbies and small meeting spaces intended for gatherings of 10 or fewer people.

“The way people work is changing,” said Peggy Roe, vice president for global operations at Marriott International. “Work is more social and mobile.”

Starwood Hotels & Resorts’ Westin brand has introduced a similar concept of small-scale, nontraditional work space at two American hotels, in Boston and Arlington, Va., and at a hotel in Germany, in Munich. In Arlington, the company took what had been the hotel’s business center and turned it into a more modern, free-form work area with Wi-Fi, couches and Xbox video game console in addition to more typical conference room accessories like videoconferencing equipment and dry-erase boards.

“It’s not about reinventing the business center, but when we looked for real estate in the hotel, we came to the conclusion pretty quickly that the old business center is pretty irrelevant for today’s traveler,” said Brian Povinelli, senior vice president and global brand leader at Westin.

Some spaces at the various Marriott brands — like a lobby table or alcove — are free to reserve, and prices for the more enclosed spaces with high-tech amenities are considerably lower than typical meeting room rental costs, with most topping out at about $200 for a half-day, Ms. Roe said. Starwood’s two work spaces in the United States are rented for $50 an hour.

Hotels benefit even when travelers book free work spaces, since many of them end up buying food or drinks. And LiquidSpace takes a cut of the fee users pay to rent the space.

Although most of the earlier users have been hotel guests, Ms. Roe said, she expects future bookings to come from local business people seeking a place to work or meet, as well as travelers. Mr. Povinelli of Westin said he anticipated use by local people to represent 25 to 30 percent of bookings. “In the two pilots in North America, we’re seeing a good uptick in local business,” he said.

“The best case is if travelers think of our hotels as a place to work even when they’re at home,” Ms. Roe said. Strengthening ties in the local area also helps hotels insulate themselves against downturns in business travel.

The use of spaces like hotels is increasing, with corporations cutting office sizes as more employees work remotely, said Richard Kadzis, spokesman for CoreNet Global, an association for corporate real estate professionals. In a survey last year of 500 North American companies, CoreNet found that 40 percent expected to allot 100 square feet or less per worker in five years. In 2010, the average was 225 square feet per worker.

“You don’t need the built-in technology as much as you used to,” he said. “That’s less of an issue today because you’re working off a tablet or something.”

Westin plans to add this kind of work space at more of its hotels.

“Fifty percent of the time, assigned space sits empty,” Mr. Kadzis said. “We don’t need as much square footage per person in the traditional office environment anymore.”

Both Marriott’s and Starwood’s work spaces can be booked via LiquidSpace.

Written by MARTHA C. WHITE Article Source-New York Times

Aside from wireless Internet and a casual atmosphere, the appeal of these spaces is that they are available on demand. Most reservations are made within 48 hours, Ms. Roe said, although some are made less than an hour beforehand.

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Auto

Auto

2013 Motor Trend Car of the Year: Tesla Model S Shocking Winner: Proof Positive that America Can Still Make (Great) Things The 2013 Motor Trend Car of the Year is one of the quickest American four-doors ever built. It drives like a sports car, eager and agile and instantly responsive. But it’s also as smoothly effortless as a Rolls-Royce, can carry almost as much stuff as a Chevy Equinox, and is more efficient than a Toyota Prius. Oh, and it’ll sashay up to the valet at a luxury hotel like a supermodel working a Paris catwalk. By any measure, the Tesla Model S is a truly remarkable automobile, perhaps the most accomplished all-new luxury car since the original Lexus LS 400.

That’s why it’s our 2013 Car of the Year. Wait. No mention of the astonishing inflection point the Model S represents -- that this is the first COTY winner in the 64-year history of the award not powered by an internal combustion engine? Sure, the Tesla’s electric powertrain delivers the driving characteristics and packaging solutions that make the Model S stand out against many of its internal combustion engine peers. But it’s only a part of the story. At its core, the Tesla Model S is simply a damned good car you happen to plug in to refuel.

Performance of Intended Function The Tesla Model S nails the formula established by the German brands that currently dominate the mid30

size luxury sedan sector. It’s fast and great to drive.

It’s well-equipped and high-tech. It won’t look out of place rolling up the drive of a leafy country club or at the curb of a hip hotel. It’s a credible alternative to a Mercedes, BMW, or Audi for someone who lives in metroplexes such as Los Angeles, New York, Chicago, and Atlanta. We’ve covered more than 1400 miles in cars equipped with the 85-kW-hr battery pack, and can confirm that version of the Model S will easily handle 200 miles of mixed city, suburban, and freeway driving without any hypermiling techniques. For the typical daily diet of commuting and short trips (the average American drives about 40 miles a day), the Model S is a compelling proposition. The mere fact the Tesla Model S exists at all is a testament to innovation and entrepreneurship, the very qualities that once made the American automobile industry the largest, richest, and most powerful in the world. That the 11 judges unanimously voted the first vehicle designed from the wheels up by a fledgling automaker the 2013 Motor Trend Car of the Year should be cause for celebration. America can still make things. Great things.

Read more: www.motortrend.com Businessuite Magazine

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