Page 1


Dr. Brenda Cowell left our medical school with a degree. And a mission.

For the past 50 years, we've been dedicated to p roviding health care to all the people of North Carolina. No matter where they live. That's a mission our medical students live, as they train to work in communities all over the state (and cities like Charlotte). Together, we're creating a healthier, happier North Carolina.

For 50 years, it's been a dream fulfilled.

REX HEALTHCARE U C HOSPITALS UNC PHYSICIANS AND ASSOCIATES

UN

HEALTH CARE For more information call (919) 966-7890 l

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Uncommon Wisdom for Shared Success Most pundits now agree that a big part of the reason for Wachovia's success after its merger with First Union is that it has taken conventional wisdom in a merger integration and had David Carroll tum it on its head. It may be unconventional in the highest of banking circles, but Wachovia's emphasis on customer service and retention has certainly proven to be right on target

28

departments

The Best of Both Worlds Jean Davis, Wachovia's head of information technology e-commerce and operations, has lead over 4,400 IT specialists in evaluating and integrating over 960 different platforms from the First Union-Wachovia merger into

publisher's post

4

charlotte usa biz

6

Higher education is a magnet for investment in Charlotte.

one functional system.

14 Are You Speaking My Language?

employers biz

9

Legislative and regulatory highlights for area employers.

Venetica Corporation has grown steadily from

visit charlotte biz

a systems integration company to a successful

An update on the state of the travel industry

software company, but the announcement that

it had secured $7 million in funding is what has catapulted the company into recent spotlight

18

I I

biz digest

40

biz resource guide

41

on top

43

Technology With Heart For more than a decade, the skilled physicians at Mid Carolina Cardiology have

on the cover:

been on the cutting edge of advanced medical technology to ensure their patients have the highest quality of care.

34

This month ~ cover features David Carroll inside of Wachovia's Charlotte headquarters. Photography by Way ne Manis.

Harnessing Horse Power The smell of freshly cut grass and the whirling sound of string trimmers are welcome signs of spring and a symphony of sounds to the ears of Husqvarna president Dave Zerfoss.

2

may 2003

cllaflotte iz grea ter charlotte biz


technology

su tivors

24/7 cardi 3 c-care

It's three o'clock in the morning. Chest pains have driven you from your bed and into an ambulance. And as frightened as you are, the good news is that a Mid Carolina cardiologist is standing by, waiting for you in the emergency room. Other cardiology centers have specialists on call. Mid Carolina Cardiology has one on site at Presbyterian Hospital, twenty-four hours a day, seven days a week. Because the sooner you get treatment, the better your chances for survival. And our internatiorally recognized cardiologists are ahead of the curve in research and technology. The knowledge we've gained enables us to provide t!"le highest level of personalized cardiovascular and preventive medical services. Find out more about us through your physician, or call 800-622-3627. Because when every second counts, you don't want to wait for a cardiologist. You want one waiting for you.

800-MCC-DOCS > www.mccardiology.com


[publisher's

cliaflotte

IZ

May 2003 Volume 4 • Issue

st]

YN

5

Publisher John Paul G alles jgalles@greatercharlottebiz.com

Associate Publisher/Editor Maryl A La ne maryl.a.lane@greatercharlottebiz.com

Creative Director/Asst. Editor Brandon J. Pham bpham@greatercharlottebiz.com

Account Executive Emily G. Lu nde ll elunde ll @greatercharlottebiz.com Brian K. W illiams bwilliams@greatercharlottebiz.com

Business Development Bill Lee blee@greatercharlottebiz.com

Contributing Writers Susanne Deitzel Casey Jacobus Sherri Oosterhouse Lynda A. Stadler

Contributing Photographer W ayne Morris

Greater Charlotte Biz is published 12 times per year by: Galles Communications G roup, Inc . 560 I 77 Center Drive, Suite 250 Charlotte, NC 2821 7-0735 www.greatercharlottebiz.com 704.676.5850 Phone 704.676.585 3 Fax Press releases and other news-related information, please fax to the attention of "Ed itor" or e-mai l: editor@greatercharlottebiz.com Editorial or advertising inquiries, please call or fax at the numbers above or e-mail: info@greatercharlottebiz.com Subscription inquiries or change of address, please call or fax at the numbers above or visi t our Web site: www.greatercharlottebiz.com All co ntents © 2003 , Galles Communications Group, Inc. All rights reserved . Reproduction in whole or in part without permission is

prohibited. Products named in these pages are trade names or trademarks of their re spective companies. The opinions expressed

Celebrate New Beginnings! We have much to celebrate in May 2003. As Americans, we can and should celebrate the liberation of the Iraqi people from many years of torture and intimidation at the hands of Sad dam Hussein and his leadership . We can be proud of the success of the American military in the planning and implementation of a war strategy that limited civilian casu· alties and targeted sites specific to Saddam Hussein and the Republican Guard. We can be impressed by the accuracy of American technology and weaponry. And most of all, we can honor the men and women who serve in the armed forces to protect and defend our country and our national interests. As the main conflict subsides, Iraq is being given the opportunity for a new beginning for their people and their nation. The ending of this war also gives the United States opportunities for new beginnings . Having achieved an end to the Hussein regime, we must exhibit a new commitment to international cooperation based upon principles of freedom and democracy and human rights. We cannot let terrorism in any form jeopard ize those fundamental principles. Reconnecting and re-engaging international cooperation and support must build upon the past, but be reshaped to stand up to new forms of terrorism wherever it is being encouraged. Wh ile this involvement in Iraq is far from over, we must follow through to establish a democratic Iraqi government and encourage its economic future. At the same time, as Americans, we must recharge our own economy. Our recovery has been stifled by terrorism, the war and uncertainty. Having achieved some degree of success in both Afghanistan and Iraq, we have demonstrated our determination to defeat terrorism and regain a sense of certainty. Now, the engine of free enterprise must be turned on to meet our growing obligations and ambitions at home as well. Our economic recovery can now be invigorated. It is time to create new jobs and expand wealth creation . As Charlotteans by birth or by choice, we can also celebrate new beginnings that will support greater economic growth in our community. Most notably, this month begins the new brand rollout of the reconstituted Wachovia Bank. While the final results are not in, First Union and Wachovia have been in the successive stages of converging into one, which has been most impressive. In this issue, we present David Carroll and Jean Davis as two of the primary architects of that conversion. The new Wachovia Bank stands tall alongside Bank of America. It is great to have two of the top ten banks with headquarters in Charlotte. Wachovia continues its growth with its newest acquisition of Prudential Securities. We also ce lebrate the beginning of a new PG A event in Charlotte . The Wachovia Champ ionship is a very big deal for golf and for Charlotte. We will learn about the size and scope of its financial impact on our community, but we should also recognize that it provides a significant opportunity to show off the opportunities, advantages and qualities of this community as we seek to boost economic growth and development. Our new basketball franchise and our new arena continue to grow. Day by day, we learn more about its new staff and the progress of construction that will expand our center city and open more opportunities for economic development. We can also celebrate the opening of the new Westin Hotel. Delayed for numerous reasons, it is finally open for business and operating at full tilt. Certainly all of these new beginnings require substantial resources. As Americans, we are confident that we can raise those resources when the path has been cleared for economic growth . We have not just cleared that path, but we have protected our founda· tion and improved our infrastructure so we can now turn up our economic engines and boost our econo mic well-being. We can all stand a little taller, feel a little more confident, breathe a little easier and get back to work for our families, our businesses, our nation and our world . iZI

herein are not necessarily those of Greater Charlotte Biz or Galles Communications Group, Inc.

4

may

2003

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Higher Education a Magnet for Talent, Investment in Charlotte USA When financial services giant TIAA-CREF

ofTIAA-CREF's long-term success and

t::egan scouting for a home for its Southern

historical growth," explains TIAA-CREF vice

Service Cente r in 1997, it started with 20

president and Southern Service Center gen-

FOtential locations spread across the

eral manager Doug Chittenden. "We are

Eastern Time Zone.

always looking to forge new relationships

The choices were narrowed to eight, then four, and then two -

Charlotte and

with colleges and universities." So, when UNC Charlotte chancellor opened in May 200 I. About half of the

Tampa, Fla. Charlotte got the nod , largely

James Woodward expressed significant

because of its attractive quality of life,

interest in having a close partnership with

Charlotte employees were hired locally, as

diverse workforce, and accessibility to

TIAA-CREF, the company took advantage

the company tapped the region 's well-edu-

TIAA-CREF's New York headquarters. But

of the offer, choosing to locate its new

cated employee pool. Still more expansions

t1ere was one other conideration -

facility on 138 acres in Charlotte's

are planned over the next year, including

er education -

high-

that clearly drew TIAA-

CREF Charlotte's way. TIAA-CREF was formed at the end of

University Research Park, just a few miles

the opening of a new building that can

from UNC Charlotte .

accommodate up to 1,400 addition al

Today,TIAA-CREF and UNC Charlotte

employees. TIAA-CREF's move to Charlotte is just

World War I as a pension system for a

work closely together to provide training for

small group of college professors. Today,

employees and valuable hands-on opportuni-

one example of a regional economy evolving from its agricultural and manufacturing

college and university employees still make

ties for students, many of whom are more

up the bulk of the company's business,

likely to stay in the Charlotte region after

roots into an economy dominated by pro-

which has grown to $256 billion in assets

graduation because of the experience.

fessional services requiring higher levels of

under management, and a pension system

As the relationship between TIAA-

expertise and specialized education. Eight

of 2.9 million individual participants and

CREF and UNC Charlotte flourishes, about

Fortune 500 companies are headqua rtered

I 5,000 participating institutions.

I ,000 of the company's 6,500 employees

within the Charlotte region , which also has

now work at the Charlotte center, which

become the nation 's second-largest finan-

" Higher education has been at the root

cial center.

Degr .es of Ch"lng Nowhere is that economic evolution more evident than in the education level of the workforce in the 16-county region known as Charlotte USA. In 1990, 133,684 of workers in the region (I 7 percent) had earned at least a bachelor's degree. By 2000, more than 220,028 (21 percent) of Charlotte USA 's growing workforce had earned at least a four-year degree. Another 25 percent had earned a two-year degree or attended college without yet earning a bachelor's degree . Over the same period, the percentage of workers who had not graduated from high school plummeted from 30.5 percent (3 3 I ,3 18) in I 990 to less than 22 percent (307,720) in 200 I. "This trend benefits the Charlotte region in several ways ," points out David

6

may 200 3

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greate r charlotte biz


WHA- CA,. A

G L ASS 3 A 3 0 Ul

M A N A!} ! _

A5 S E TS ~

If:. ::J u -,, e ~ e u k -: ::1 "'h re yoL :; tood fin : n ci ~ r :

:r~ra J :Jla::t. .

how man) phone caLs w oLd :it tala: to =..n.sw e r~

fi.nancid pl.anr e:-s w i.n\eEtm e nt , i nsuranc:: , c e :l

Ac :c n = : ant. .~t: orn~y. Brok e::-. B.omkE:r. -=:h rc: e n~

3nc. tru >t ad\ ~-::l rs - focu ~~ 0 ::1 tl--_e cruc . a ~ d eu.:.:.:OC.

m any ::= =opL~ yo ·:.. t t:r::t

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programs, giving professionals the opportu-

Black, director or research for the Charlotte Regional Partnership, which mar-

nity to earn an MBA and other graduate

kets and promotes economic development

degrees while continuing to work. The con-

in Charlotte USA. " Higher levels of educa-

sistently top-ranking Babcock School at

tion translate into higher salaries, which are

Wake Forest University also offers an MBA

good for the local economy."

program in Charlotte and will be expand-

And the Charlotte region continues to offer a variety of choices for those looking to continue their education. Fifteen four-

Coll~ge

路 Concord)

ing that program in 2004. "From strong yet affordable public universities to the most exclusive private col-

year institutions, 19 community colleges,

leges, Charlotte USA offers a broad range

and more than 20 vocational and technical

of higher education choices to meet a

colleges are spread across Charlotte USA.

growing demand ," emphasizes Michael

UNC Charlotte, with nearly 19,000

B1rter-Scotia

Almond, president and CEO of the

students, is the largest of the region 's four-

Charlotte Regional Partnership. " Educating

year universities and the fourth largest of

our own residents while also attracting top

the 16 institutions within the University of

students from across the country and

North Carolina system. Enrollment is pro-

around the world will ensure the contin-

jected to increase annually through the

ued talent, drive and diversity of the

year 20 I0, when it is expected to top

region 's workforce." Charlotte USA's 19 community and

25 ,000. Students come to UNC Charlotte

specialty colleges typically offer a more

from all I00 counties in North Carolina,

specialized education, wh ich is becoming

from 48 states, and about 80 countries.

more and more valuable to a workforce

Many of these students elect to remain in

requiring increased technological and pro-

Charlotte USA after graduation, adding to

fessional expertise .

the region's increasingly educated and skilled workforce. The international flavor

The largest of those institutions, Central Piedmont Community College in

also complements the growing list of global

Charlotte, serves nearly 70,000 students a

companies in Charlotte USA. That trend is

year, from those planning to go on and

expected to continue, given the fact that

earn a four-yea r degree, to those studying

more than half of the corporate relocation

for a career in a specialized field , to adults

prospects handled by the Charlotte

returning to the class room for the first

Regional Partnership are from outside the

time in years.

United States.

These community and technical colleges forge valuable partnerships with com-

L

tl

pu

'lt

o

U.S. News & World Report recognized

panies in Charlotte USA, offering specialized train ing geared specifically toward that

several Charlotte USA institutions this

industry.They work very closely together

year in its prestigious annual list of the

as members of the Charlotte Region

best colleges and universities in America.

Workforce Development Pa r tnership, col-

Davidson College ranked ninth nationally

laborating to match their strengths and

among four-year liberal arts schools.

specialties to the training needs of different

Lenoir Rhyne in Hickory was eighth

industries.

on the magazine's list of the top compre-

"These partnership opportunities,

hensive four-year schools in the South .

along with a trained, highly skilled work-

Wingate in Monroe and Johnson C. Smith

force, are invaluable resources as we talk

in Charlotte were ranked 19th and

to companies around the world who are

24th respectively. Lenoir Rhyne also

interested in moving their operation to our

was identified as the fifth best value

region ," Almond says. "Charlotte USA's

among four-year schools in the South,

combination of accessibility, business

while Queens University in Charlotte

strength and quality of life make our region

was rated as the 15th best value for

one of the most attractive anywhere. Add

master's degree programs. Charlotte USA colleges and universities also offer a broad range of graduate

8

may 2003

our ready workforce and educational and training resources, and the combination really is unbeatable."

biz gre c. ter- cr a rlotte biz


L~pslative

and Regulatory Highlights for Area Ernpk-yers

NC '\Outh Employment Laws

may work up to 23

\ Yith summer getting close, m..-.y

yamber

~· eopl e

·will be trying to find sum-

may be dLring sch: ol

m-:r j::>bs. Employ-ers ;hould be fami i3r 'v"ith s~te

3nd fece ra llaw~ concerning yo Jth

enFioyment, e~pe :i a ly the regulaticns concerr i11g hou rs of wo rk. Following ar:: lig~tsfron

hig~­

the 1\hrth Carolina reglA1tio1 ,

G.5. ~-2 5. S . I',Jo y:>uth Jr der 18 years of ag~ shall be enFioyed by any employer in any oo:.:upuion wi:ra.Jt a y::Juth employment certifi3.te (v.o -1: permit) Jr l-:ss specifically

exempt~d .

h.:: ur~

in ;an)' 01 <' ...eek

$dlool is i se;sbn. a")t : :::rti·:>o .J(, ri:::h l eL r~.

zbid"'! by fe.:le rcl :111c s:tate rule$ regard ng

No yout1 I 3 ,.ears :( <ege c r 1-:>5 may be

e m~·

o;ed by a n errFic)er, E>ce::>: )'OJths

(JI'IWI.I.hronl•e.com •

outsidE sc-oo hotrs in :h= ci~tribJt: on of

Fle> ible Spe11dilg Acx:ount

newspaper:; o: ne cc•n5 U'ller bu: not rr ore

Par-:icipa:ion lrcreases

than tiTee

J-our~

certificxe

~hal

p-:r da;-.A1 -:11p o:"lelt

roc be re:J jred f:::r :ry

you: h u1dEr IB .-e:c_rs ::>f at;e eng;a~== n the

:r e cCli!N.. mer

dist ribL :ia- ef nev13pD;o rs :o outside of ~ ch ·x:l 'lOUrs.

During the r=guhr school 1:erm, no

No y0t1t1 u1der 16

;.·e;ar~

in :scl-.ool in grade 12 or lower may be

hour s with:;)ut an nterva cJ at

enFioyed betv.een I I J.m. and S a.m. when

minJte ; fer r=st_

d ;a.5= .; h311 be

f::r 11on; th:m 'liE ::>- SIEcu:i...e

Co::>ie~

th:!re- is school fer tile youth the ne>:t day.

T he fi:;t cp.J<--ter of 2J03 ·Nasa good o1e for Fle-<ible Spen.:lirg Acmunts (FSAs). P:tru:ipatioo hcrea$e:l IS percent conpared to 2 J02, arc::t ann_al C:;)n:rbution amourts

Erey.· by 7 percent, ac:o ~cing t::> Fidelity

emplo~d

is restriction does not apply to ycuth~ 16

th e privacr of me:::lica ir fcrma:ion.

nu:' b~ emp o:-e.:J

2 and I 3 :1ea so: age

yOJtl- unde r It. :rEa r~ of age who is en relied

n

FMLA.. notices ·::>r put Ft-1LA.. infOrmatien i h;:o ndbook5 ; an : faiiJre to ccnsider md

a~t

)(

1-ve~tment;

re::>o-ts. FSAs are designed to

claw emp •Jyees :o cove- the

:ost~

u ;~

pre-ta:< dollar~ :o

d un-rEimbursed meeical

expe:nses cr ce:ruin chil.::l-::are related c:>sts.

eof the {cutr

=nj:l ·:;):rn ~--r:

certificxe:....,·c·rk p e-mit lcrm~ 3re

;av:~. ·lnle

Bt s=tting ;oside c.. portien of income cr a pre-:ax ba:iis, bot 1

empb~es

and employer:;

arc::t 17 years ot age if the employer rece ves

at our : y Departnert d Sodal Se-.1ce;

w ritten approv;al for : he youth to work

offices :one recu r e b o th enr plcyu ;u-d youth

i; re:luced ::>y the amo.nt of h s or he - FSA

beyord tre stated heurs from the )"'8Uth 's

in:o -ma:icn <rd s i6'1at.J-e5 (TEA)

contribut iol, and the emp oyer pays less

p..-ent o r gJardi..-J and from the ymLh's pr n :~al or the J:rindpal's designee.

s<:ve mone-,:. Ar employee's taxible income

i1 FI:A (sc cial se:uri:y) taxes.

FMLA C aims Up --nty-Fi...e P:rcent

I'Jo y:>u t h 14 or IS years of age mar be

Tile U1ited States D=::artrne-.: :(Labor

Fidelit. at:rib.Jtes the growth to t:1e fc.a tt.at as health car= cost5 cnntinue to esca-

enFioyed by an emp oyer in any oo:-lpat ion

recentl; re::>erte:! that c airns fi led :Ji

llle,emplc:-ees are beins · equ red to pi:k u::>

eJ<Ce~t

emplo~e~

<' greater sfla-e c- health care costs. The fiE-

th::>se d-:c=rrrined by the Uri: ed

Sut~~ D~artmelt o{

Labor to be perm tted

occupatioos un:l e:r ti-e Fair Labor Standards

unde - t he Fami :' c.nd l"ed cal

Leave kt (FMl..l.) ilcreN:d 5ignf can: ly in '2002..The

~ct

requ res em::lloy:-:; -..i: h ..)0

em~l::>yee~

c r:rcvice:

c 1::'.

ures are ga:Jd le-ts for emplo{ers as :l-ey -....or ~

to eoco.ra;:e em;:lcyees to be smart

Act; vovi::ted, soch youths may be employed

or more

by er.plo;-ers:

we£ks .:>f uop:<id le;ave fer

I. No more than t hr=e hours on a : ay when

con:liti·: n c•f the e11p oy~ or is : r 1-Er

em~oye rs

sc1oc·l is n ses; ion fo r the yout h;

iam ly merr ber C·r the bir:h. acepti::11 o -

l: se-it" provis on of sJch plans. Employers

2. No mo re than eiglt hours on a d1y when

'bs:=r plac err ent o: a

:1.

.,J:

d~ l :i.

3. O nly between 7 a.m. and 7 p.m., ~cep t

cou d te dlficu lt econ·::>- c

to 9 pt.m. :luring the ~ ummer (when ~ chool

emplo~e cwre1e~s

ti m e~.

i-.cre:c_sed

::f FHLA r gh3 or

is 1ot in session);

emplo~rs

4. No mo re th:m 40 hours in any o - e week

comply with : he lew. Jr£ ::lla rt:f s d.\V)er

w hen sch::>ol is n·::>t in session for ti-le: youth;

"¥10

5. No more than 18 hours in any o - e week

of empl:;)y:ES

when sch::>ol is ir session for the ycuth; 1nd 6. O nly ootsi:le Khool hours.

I',Jctvtithsun.:Jing the above, enrollees in hi~:h

s::ho::>l apr:renticeship or in wCJf'i< ex:pe-

ha~

wh:;) 1ei:h:r

u -.:er~t:31ld

no ·

fi e d ;a r u1ber -J law:;uru cr : ehalf ~u~sr;

::>ffe-in;;; FSAs i ~ the "use-it-:: ~­ e rr::>lo~:;

O\'.i~

on how to rranaE;e

ttreir FSA collars :;o t1G.t tenefits are ret l:: st 3t year-end. Some emJioyers have introdJCed ":el::it c;arcs" to vomote more effeco-te =sA spencing. Rex deJit cards hel::> to ~rec.'111ine

: he prxes:si r g of cl1ims, mil imi:ze

oJt-::~f-poc.<et

ex:pen;e$ br employees., as

\\ell as offur

e11 : loyee~

tie ability to track

put an <:fr4=l¥r at greater ri;l:: ot :ar R'1LA

thei clai m;

i r =o~rntion

online. In the bat-

law ~ uit. igrorlrg

tl:

the i::>l

FI1 LA r:! :J-iP-Ile~ i1 favor

of conf ct ng cO.,fBn¥ r J an

E mj:lo~e

:1:: ons

e~ ;

fai l ng to advise

t::J

redoce health -:are costs, FSAs are a

u; eU too (lfflll• benefi~news . wm)

t.la: "'is C•r re:r S.it Lati::n nay be

rien:e and career ex::>loration progrc.ms a s

eligi ble :or the ="!LA : e -rr ilatiol -.-·h le an

d9in ed under the Fa r Labor Standcrds Act

em p lo~e

gr e e te r ch 3. - lotte biz

One c aJienge :hat m.Jst be faced t:y

rrus: ecuc=te

POE sib e P-a;c ns f::> r : 11= ·is= n cl1 ms

sc1oc·l is 1ot in s=ssio n for the youth;

con9.Jmers of he:=lth care.

seri:t ~ I' ea 1:h

i; on !:eve; htii1g to

Fo~:

re:quired

Time Off Ccst::5 Increase The C.::>S! of .:lats suc1 as vacation, sick

rra y 200 3 9


days, disability programs, workers' compen-

also has an exceptionally generous policy,

sation, and similar time off is "creeping

providing new mothers 21 weeks of leave

upward" for employers, reaching an average

at full pay.

of IS percent of payroll costs in 200 I. Thi>

By comparison,American employers

W.:>rkforce Training Grants Available Governor Mike Easle:' recertly anrounced a new wcrkforce de·telopmeo: prcgram, allowing N.C. employe-s tc· ;~pply

is up from 14.6 percent in 2000, according

rank near the bottom of the list, averaging

for training grants of up to $50,000. Mot>e

to a survey by Mercer Human Resource

12 weeks of leave generally available

than $1 million is lVa !able throLgh ju1e 30.

Consulting and March, Inc. For example, a 1

through the Family and Medical Leave Act.

An additional $2 milli:m is scheculec k-r

employee earning $40,000 annually

Maternity leave in the United States is also

2003-2004.

amounted to an average $6,000 in payroll

largely unpaid, although most other coun-

cost for all paid time away from work in

tries provide statutory maternity pay.

pr:::>vide~

The program

funds,

U1d~­

the federal V\'orklorce Investment Act, :o

However, states are beginning to

vacations, as well as sick days and disabilit·t

address employee demands for more paid

the purpose of providing educrtiorn 1nd

leave, according to the survey. That breaks

leave. California led the way last fall,

occupational

down to an average of 39 days of absence

approving a paid leave law allowing employ-

wcrkers. The goal is to enhance the >kils

per employee per year, including 27 sched-

ees six weeks of paid leave. Maryland law-

of

uled and 12 unscheduled days off per

makers recently followed with a discussion

pre ductivity and the potential br o-npany

employee. (www.hronline.com)

of a similar bill.

grcwth .

Lissa Bell, senior policy associate with

esoblished

~mployees

orth Clrolha

bu~ines:se~

200 I, including scheduled time off such as

skill~

tGinins for c:urrent

therebt increasin.s empl;:){e:

A funding application will cnly Je con-

State Lawmakers Seek Expansion of

the National Partnership for Women and

sid ~red if it is from a bus ness 1hat is

Paid Leave

Families, says such state measures repre-

un o.ble to otherwse mak-= the :rairing

The latest look at maternity leaves

To -

bu~ines~

sent a national trend. "It's something legisla-

available, and the

around the world shows that U.S. moms-

tors want to do, but need to see the public

str:~te

to-be continue to get less time off. Study

support is there ," she says. "And post

naly to provide the train ng. In order to

results from Mercer Human Resources

9/ I I and in the current economic times,

mc..,imize resources , the business mLst also demonstrate that it is no: eligible for c:r

that it

doe~

must demJn-

not have the fun:!:; i•ter-

Consulting show Swedish employers offer

people are particularly concerned with

the most generous maternity leave policies,

family and having more time to spend

has exhausted effort:; to ;ecure funcing

providing moms 96 weeks of leave. Italy

with their families." (TEA)

thr.Jugh existing he m'Jem wocker Lra.ring prcgrams in the

IMPLEMENTATION • TRAINING CENTER • SUPPORT • SERVICES

~~orth

Caroliffi

Community College System, su::h as

th~

Ne.v and Expanding lndu;tries Program anc the Focused Industrial Tra ning Prcgram. Applications br :he lncumt:-ent Workforce D:velopment funds 1re oper :o all •:ompanies conducting business in \lcrth guideline~ .

JOB+OPS™

Carolina that mee: certai r.

make +install +service

(wv·w.nccommerce.corr /wor4orce)

Complete Job Operations & Production System

!'lore

infcrmation can be found lt the N.C. De::>artment of Commerc:'s Wro sitt:

Tht- Employers /lssoci:Jtio 1 is

o

biz

nonprc(tt

CDcr oct~

org=nizotion providin[ comprehensive huma' reswrces and tr:Jininl' se:vices Founded in i 953, the 1,ssociation r.1aintains a 9rcad-bas~ d shi(:; of over 70C corr(>aries from all

m = m? ~r·

hdusre~ JJ

the -greater Charlotte regron. It also (xrtici(::cn s in a natb nal information exchange uryder ihe aJE/Jfe:!5 of the "'ational Associatbn

of Mcrwfactuers.

The above excerpts were taken fi"om -re Ma•agement Report the Association's mont/"Jr ne,.,;letter. For more ilfornctiCYl, plea!e

ca~

_aLJa

Hanpton at 704-52 ; -BC/1 or visit ti"e W€b 9t= ct ww..,.employersassoc.:om

10

may 2003

greater charlotte tiz


c~

rc-Jrn irvenwrr

Cr_arlotte Business Trcriel Outlook Uncertain

:e-~t

du-ing tre pas:

moms sold tre.v nteco·y is

lnv~nt·:>ry

nation Ni::le

~s

:l

growr b: o·lt 2.5 perI~

months, :l though

1::: 2 9 pHo~nt. Still, room

CJncern. tc hoteliers compet-

il; b r business.

and Oce1.. pancy

It's no secret t1at1:he busines; ewel ind~,;;tr;-

h~

karen murray

wr:s:led 'Nith

'::Xcupancy rates are down Jecause of ;;. ; lol"ing econom>·· the trl:ertairty of world :err::>ri~m . .and

e-..en:s anj

Septerrber I I, 2.00 I, ;,n ncre<cse in

llcte rocrn.; wrthin the m<crle:. l:s the over-

~f

till:!

hotel rooms, c..:-rrbirea v.i:-

nurr -

dow1-

co

turr in the eco1cmy, -ad kept o:xur:;ancy rate. down ana t·Jurisll offici31s i1 a petit ive struggle o lanj conventoo Ac.::ording tc

hotel inventory to more than 4, I00

an cves:supply of

Butts, senior vice president of sales and marketing for Visit Charlotte. "Larger groups that previously were unable or unwilling to consider

=L:>po)' thn set~ Charlotte aprt :rom other

Charlotte are now looking at the city as a

d : ie," sa:-s F.ick Blacburr, d recor of mar-

convention destination."

~eo<i~.

c·~m­

busin~.

Chari Jtte 1'-larriott Ci:r Center.

roni:a'l:-. it is :.lsc the numbl:r of hotel

Pric:V\Iaterhcu~

Cocpers, more than 6J9,000 hco: l r::oms were added to the U.S. market

the city's uptown

rooms," says Mike

uncE'rtainty in rece'lt )'E!:lrs. Ever F ·ior to ber

Charlotte will bring

b~n

Directly across the street from the Charlotte Convention Center, The Westin

-c-ons :hat sec:; a dty ap3.rt from its com-

Charlotte has been a key to helping the city

Jeti=rs when :he goal is IJri15 large con-

attract many groups that have committed for

•E:fltion

g--~s Th~

loog-a.1ti : ·paced Westin mom~ to

199b and 2001- a 3.4 Fercent <cn - ul

::,arlotte: ac<ls 70C

increase. In 20(•I, Chzrlom='s new ·com

-rari:et this

inve1tcry was :he higt,e;t i1 the

;ye:r thct t's the ticket to bco <ing groups

in August (6,000 attendees) and the

Most markets have yet to see tre r <cn11ual

:ht othervwise wouldn't have ;eriously con-

Christian Church (Disciples of Christ)

derrand meet wpply. 11 Char'ot:e. statistic£

;jje!"ed Cr:lrloue.

from Smith Tra·tel

Re~earch

JOt.r try.

irdic:l:E :"<it

~0

~pring, :tnd

the Charlotte

2003 conventions. The International Hosiery

inciJstry professionals

"T 1e q ering Jf the 70(·-"o•:m Westin

Exposition this month (I 0,000 attendees), the Progressive National Baptist Convention

Convention in October (8,000 attendees) as well as the American Numismatic

R JS CLOSER

THAN YOU THINK.

LIKE NO-NEED-

c gr~a-:er

cha r lc:te biz

0-LEAVE - CHARLOTTE

OSE • may 2003 II


Association (I 0,000 attendees, although relo-

Planners International travel planner survey.

ty has remained about the same, because of

cated to other area facilities in March

More than 98,000 airlines jobs have been lost

an increase in cruise and tour business."

because of the delayed opening) - are

since summer 200 I, with several major air-

US Airways was one of the first air car-

expected to bring $13 million in direct dele-

lines, including Charlotte's major carrier, US

riers to institute a "peace of mind" flexible

gate spending to Charlotte.

Airways, filing for bankruptcy protection.

travel policy to ease customer concerns

Business travel slowed to a near standstill in

about making reservations during periods of

Impact of 9/1 I The tragedy and fear of September I I , 200 I, and its aftermath had a major impact on the travel industry. Cancellations from 9/1 I

the months following 9/1 I, and has struggled

particular concern.Their plan allows airline

since then to regain some sense of 'normalcy'.

customers to make changes to previously

"Business and airline travel is down about

booked itineraries without standard change

I0 percent," reports Tom Crosby, vice presi-

fees. Many other airlines, hotels and travel

resulted in $1 billion in lost business in the

dent of Communications for AAA Carolinas.

facilities have since adopted similar policies.

United States, according to a Meeting

"But the organization's overall business activi-

"Those of us who make our living by attracting and serving visitors face a real dilemma.We want very much to maximize the number of visitations to our community and the much needed direct spending that is

When it comes to the middle market, we wrote the book.

generated. On the other hand, we know that personal safety and comfort is something we want everyone to have. In this difficult and awkward time,Visit Charlotte will maintain an active sales and marketing stance while exercising sensitivity and restraint as needed;' says Melvin Tennant, president and CEO ofVisit Charlotte. The year 2002 was one of slow rebuild-

The professiona ls of Grant Thornton specia lize in helping mid-size, growing companies . We understand the trends that impact the middl e market. We eve n produced a book tracking those tre nds,

ing for the travel industry. While the economy remained tentative, businesses learned how to survive in a changed world. Business travel resumed, but much of what was once considered essential had now become optional. "The profile of the business traveler has forever changed," says Kevin lwamota, presi-

The Grant Tbornton Survey of Middle-Market Business Owners.

dent of the National Business Travel Association (NBTA).

Grant Thornton is the lead ing g lobal accou nting firm dedicated to serving the needs of midd le-ma rket compa ni es.

"After 9/1 I, there was a sharp drop off in business travel for our company, but it slowly came back to normal by last summer," says Randy Wheeless, spokesman for Duke

Let us show you the level of service we can provide to you r o rga ni zation . Ca ll Mike McGu ire, Ca ro lin as Managing Partner, at 704.632.3500, or v isit o ur Website at www.grantthornton.com.

Energy in Charlotte. "We've made some changes. We do conference calls more than we used to.We have preferred provider arrangements with airlines, as well as an in-house travel agency that helps us keep our costs down. But as an

Remember, when it comes to the middle market, we wrote the book.

international company, there are some times when travel has to be done," says Wheeless. According to NBTA surveys, more than 70 percent of corporate travel managers

Grant Thornton ~ A passion for the middle market

report that their travel budgets for 2003 have remained flat or have been reduced. Companies have turned to discounted, nonrefundable airfares and online booking agents, and many have reduced or eliminated discretionary business travel. The convenience of last minute booking of full-fare tick-

12

may 2003

greater charlotte biz


ets is over for most business travelers. Planning ahead is now a part of the business travel agenda. At American Express Corporate Travel, online bookings - where consumers can see and compare prices - have increased from 2 percent in 200 I, to more than 16 percent in 2003 . "Online travel services have a clear

Coffee boss ... from the BEAN to the CUP to YOU ... at the push of a BUTTON! We specialize in coffee house quality brewed fresh for you and your clients using the espresso brewing method.

price advantage and may be responsible for some of the decrease in our business and

Let us show you how to make

airline travel business.We compete against

a lasting first impression!

them on a service level and knowledge about destinations and choices:路 says Crosby of AAA Carolinas.

Survival In times of war or peace, industry professionals and businesses they serve agree that survival - and success - comes down to customer service. "I don 't believe that the typical business traveler is enticed into traveling by simply providing a special rate. If they have business to conduct, they will travel. If they can find a way around it in times of uncertainty, they may do that. It's up to us as hoteliers to continue to provide the best product and ser路tice possible, and to also look into other rrarkets or segments to find people who are more apt to travel and conduct business during these times:路 says Blackburn of the Charlotte Marriott. "All travel (for Duke Energy) goes through our corporate travel office. We have a corporate security department that makes recommendations to employees, based on information from the State Department.This became mandatory after 9/ I I.That way, if there is a crisis, the company knows exactly where the employee is, and how many employees are traveling at that time," says Wheeless. "Travel is a right we can and should a I exercise, but it is an option in most cases. We want to make certain that in the midst of our difficult national challenges that we encourage all visitors to maintain as normal a lifestyle as possible, including normal activities, like traveling," says Tennant. And the travel fo recast? Even rain can't last forever. And while spring rain can cause flooding, it also encourages the promise of new beginnings - and things

biz greater charlotte biz to get green again.

r1ay 2JO::: 13


l-R: Bobby White, vice president of engineering; Stuart Levinson, president and CEO; and Alec Fink, COO; of Venetica Corporation. Not picturell: Bill Dedrick, vice president of sales.


CORPORATION'S TECHNOLOGY BRIDGES THE GAP TO ISLANDS OF INFORMATION The speed with which Venetica went from being a systems integration company to a successful software company makes it appear to be an overnight success, but president and CEO Stuart Levinson says that's not true. ''We were just flying under the radar," Levinson says. ''We launched our product two and a half years ago; we just haven't spent any money marketing it. We put the steak before the sizzle." However, the announcement in March that Venetica had secured $7 million in funding from Charles River Ventures and General Catalyst Partners catapulted the company into the spotlight. In the same month, Venetica appeared on the list of "1 00 Companies That Matter in Knowledge Management" in KMWorld Magazine. The company also made the 2002 ÂŁContent 100 list of companies that matter most in the digital content industry. ~ greater charlotte biz


BUILDING FROM SCRATCH Levinson, a Myers Park High School graduate, got a degree in business administration from UNC-Chapel Hill in 1987. While selling software for another company, he grew restless. He knew he wanted to create something; he just wasn't sure what it was. While enrolled in the Executive MBA Program at Queen's University, Levinson developed a business plan for a new company Still in school, he launched Venetica in 1993 with $45,000. The new company focused on systems integration, helping large companies with document management, imaging, and workflow systems. It grew steadily for 5 to 6 years, allowing Levinson to recruit top talent and to create a strong team of employees. Chief operating officer Alec Fink brought experience in software development and technology consulting to the company Prior to joining Venetica, Fink had been a senior principal for American Management Systems where he specialized in the planning and implementation of content management technologies for Fortune 500 companies. He holds a degree in management from the Wharton School of Business and a degree in computer science engineering from the University of Pennsylvania. As vice president of engineering, Bobby White is responsible for growing and directing the engineering, quality assurance and customer service groups at Venetica. Prior to joining the team, White had held the position of director of development at XML Solutions Corporation (now part of Vitria). White has a B.A. in chemistry from the University of Virginia "We've built a phenomenal team," says Levinson. "During the Internet bubble, there was a general mentality that it was okay to jump from one job to another every 12 months. Our folks kept their head and have been passionate about making Venetica great. It's what makes Venetica such a special place." The company culture, which started out fairly conservative when Venetica provided services to Charlotte's banks and financial companies, began to

16

may 2003

change. Today, the atmosphere is more relaxed. There are foosball tables and pinball machines, parties on the roof, and you might find the engineers in flipflops and shorts. "We're constantly reinventing ourselves," says Levinson , "j ust as we reinvented the company" While Levinson always had the goal of transitioning Venetica to a software business, his opportunity came sooner than he expected. In 1998 he and his team identified a market need for software that could successfully integrate data from non-compatible systems. "Every large company has multiple silos of information," says Levinson. "Nobody was focusing on a standardized access to those different silos. There was a tremendous market opportunity" Venetica started to funnel cash flow from its services business into R&D. Two years later, the result was VeniceBridge, which enables global organizations to integrate enterprise applications with different sources of information through a single interface. VeniceBridge not only simplifies the integration, but it makes the information from multiple different systems look as if it lives in one place. The cost savings and potential return on investment have driven the strong momentum for the product even during the market slowdown of the past couple of years.

BRIDGING THE GAP Venetica takes its name from Venetie, the ancient language of Venice dating back to the 5th century B.C. Venetie was a single universal language derived from several tribal languages to create a standard for communication. VeniceBridge alludes to the creation of Venice as a city -a single vibrant community of 120 islands connected by more than 400 bridges. "At the time Internet companies were being called all sons of funny things, like 'Loud Cloud' and 'Blue Martini' ," says Levinson. "I wanted a name that meant something." Venetica speaks the language of universal content access and exchange by bridging the many different islands of

content across the extended enterprise. With the development of VeniceBridge, Venetica faced the challenge of making the transition from a systems integration focus to a software product focus. That it did it successfully, emerging with a positive cash flow and no debt, making it easier for Levinson to raise capital when he went looking for it. "In this economic market, investors are looking for strong companies that aren't losing cash from operations," says Levinson. "The time to raise money is when you are in a strong position to grow." Having shown a profit for eight of nine years, Venetica was very attractive to investors. The company was able to announce in March that it had won $7 million in venture capital from Charles River Ventures and General Catalyst Partners. Venetica's "strong operational discipline" was one of the main attractions for these two companies. "The operating discipline ingrained in the company prior to this investment wi.ll serve it well in today's business climate," affirmed Ted Dintersmith, general partner, Charles River Ventures, at the time of the funding announcement. Charles River Ventures is one of the nation's oldest and most successful early-stage venture capital firms with $1.4 billion under management. Founded in 1970, it is dedicated to helping exceptional entrepreneurs turn their ideas into the next category of leaders in the data communications and software and services sectors. A much newer company, General Catalyst Partners , founded in 2000, is a private equity partner for entrepreneurs, early-stage companies and transformational companies that seek to build innovative software and technology platforms into industry leading companies. "Charles Rivers and General Catalyst are exceptional investors that bring to our board of directors a wealth of knowledge and experience," acknowledges Levinson. "This infusion of resources will allow us to be more aggressive in responding to market demands for our products and services."

greater charlotte biz


RISING ABOVE THE WATER

or events rhe;

~ant LD

l:e ilv::>

~d

The c:mt::J.t rBnagemwt industry is

with. Conse·::ruemly, it ffils 1e t=ed out

e :-~j : y

investment will take Venetica to a new

with a number c•f local chaiucs . Tiis

it

level. He plans to use the $7 million to boost Venetica's sales and engineering

year Ve:1etin employee. pat dj:ated in Hands on C"larl•Jtle

Levinson says the venture capital

n; sec r.g grc Nth ~ith predicat.ic·ns ll gra<v 1c $10 Jillion ever the re~t

fe"- yeru:: L( ·.insCl. sa:;s _haL, even more irr.ponmL, the im : ,;ration narket for calc, r:;n:ce>s ;:rd. _onten i~ growing e\·en

teams.

Day by pa

"We solved a real problem in the marketplace ," says Levinson. "Now

at their wor!Ghcp for deve opnentally challengec zdul1s. n e ccrLpany was

it's time to tell everyone about it. " In the next year, Venetica will

a corpora~ 3:JOnsor of "Se~er~:lc to Autumn" in :up:xn ::>f -J-.e ]L-:tic r

e;, energ,, • ·e ;ciCJ.:es and other co'lL::It

add about 25 employees and open

Woman 's Club d Charlotte. \'enetio:a

larg~

an office in Boston, Massachusells. It recently added Bill Dedrick to the

and its errp ~oye ~ s al~o ~ po1; ··red 20 local cl-.ildren b_ z.ccepung tteir "Dear

do:~rs

of ~-·:lratt systems managin?; .heir c::n·nt, [:D.r ding a hJge oarket for \'m~uca's ir~raL

nL

ng a mura :c.- u ·eSpan

faster. \er-.:ii::3. plc. -:s to c::wtinue to ta get .2.( )0 : omFn.es in -inanciJI se:-.ric-

GhJc-1

in:e.,.i.\ c

rr..:. Lstri.e:;

Levinson say: these

: cn.nn es a.e struggl ng with

leadership team. As vice president

Santa letters" th-o•Jgb Han Js

of sales, Dedrick will head up the new office.

Charlotte'~

ar.nual hclid..1y ::>nject. Based en dor.ati:Jr:s collzct2d, Venetica

tJ.<JLLhe CC•11pny, Nhich earr::d rol hitg f-u:-n ~ft-:>ar~ in 1999, Wlll se~

"Venetica has outstanding products, a talented team with great vision, and

LO

·.ITI

a tremendous market opportunity,"

was able tJ l::uy prescn;, D:-Jg ng from toys and tooks o cloL~"l ~ s. fo - loca children \"he ar ~ part ::> ~ tl-e -...ands

says Dedrick. "''m pleased to join the company at such an exciting time, and look forward to building upon

on Charlo.te pa-mer orgz.rizc.t oo Right Moves :or Y·xltr. "We ~o ·..tld -athe : ::IJ:lz. te :noney

the momentum Venetica has created, exceeding customer expectations

towards the L-"lir gs peat= le ~~-~ wa:1t to get i:lvolved "Nil:-t, ' ;ays Ln'irson.

and positioning the company for accelerated growth."

BECOM ING THE STA'.JJARD

Dedrick has served in executive

Venetica·; fuwre a"Jpcars. \"c-:; Jri?;ht.

·)(1

S.Jlutions. Lcvhs.:m

rrcdio~ LS

t:ce Vcnicdhl.d5e r:od·1ct li1e make u"J 55 CO p ~ rcCI. of iLS LOLJI ::-e\·enue Lhi3 : eaL " J _- gc l is l::> con ·irue to e}<ecute

en •JUr \ swn ."

~ys

Levi:"lson. ·'It's

teen e:<citi:ng to pioreer I he conten:

i:u::g·ati.cn f-c:ld. : O"V, we 're poi.sr.d o essblis :- \'a- ice&ridge as the in::lusrry snndarc. " biz

Ca:;=r jocdx.s. s a Cho -/ou.e-based f.·ee 'a lCe ,v--i:;:r.

roles as a vice president of sales for several software companies , including Rational Software, SQA, Easel and Intersolv. Most recently, he served as senior vice president of sales at oundBite Communications. Dedrick holds a B.S. in Business Administration from the University of New Hampshire. While Venetica is opening an office in Boston , near the headquarters of its two new venture capital partners, Charles River and General Catalyst, Levinson says it is not about to move its base of operations from Charlotte. "Charlotte has been a phenomenal place to grow a software company, " he explains. "We've been isolated from the Internet bubble mentality prevalent in the Silicon Valley and other places, we've had a talented pool of people to draw from and the quality of life has been a big draw. Charloue also has a business community that supports entrepreneurs." Venetica has given back some of what it has received from the Charloue community in typical company-style; it asks its employees what organizations

greater charlotte biz

rnay 2003 17


For more than a ctode f1e skH!ed physicians at Mid C:::rol m. Cadiolosr (MCC) have been or th~ cutting ed~e of advanced medical ~e:::hoobgy. One of their most challen&illg LSES of techoobgy, however, may \'CY v~el be the n:cEn Implementation of a compiLer system that includes all prent re:::ord data. Since the majority o - md cal practi-:es still utilize paper :u~ sy~te 11s, this b ~l.J step has set MCC <::::art i-5 an ir_novc.rcr in its field. The sys.on, krown as electronic clinical informati )n system (EGS.) integrates all aspeCG of ~h = business, including financial 1z1d ::lr.ical appli:ations , and uses elec:-on c ·nedical n:cods (EMR) to collect :::n.:: sw·e- patient d.3ta. lt has helped MCC SLK<:es;klly strec.rrlinc: practice operatiors, nClt<6e efficien::y and improve patieDl cac. The resul-s include significant o:JCrL_:mal cost ;.1"'ings, raised re\'en . lL ex:::a1dcd reseuch

greater charlotte b:iz

c..bilties, md imprcved ?hysician 'nc patient s..-:11 s 'a:::tion. owe h ~-e incorpo-ated technology as c.. nen-e ,.,.i·e of our or.;mization,~ exphi:ns t/CC pres dot Dr. Ye'c "lu'<c. 'We rurcta;ed the sy~Lem for both bu:iness and .:.ilical reiscr s. We sought a t-ool that '"0\CU_d supp01. our mission otattmert -cr clinical q_ality, one tha_ -.ro1.:r d enn e us to irrplement pncti:::e ,I!';Uicdnes a.1d perf:::rr:1;mce mE.asues, ;;,nd ;Lso nl:tance our Jbility to implemeL cli::J.kc1 a.ccotmt<:bility by p::Niding phy:i.cia:l -e2dback or .J::>th grcuo ard mdi.,idual r-erforrn:.nc<::." The cccision tc· in:Jlement c. ..1 BAR ~yst= r::s.J ted fra-u t:h~ corporate c.Jlture the pa.:::tice emb12ced six years 3.go -.vhen the;r created 3. c-rief execrtt ve officer -·ositi·:n a:counab'e to the b:nrc c•f dire:tor5. r1e. prac_ice has 26 ph;siaans and 170 staJ provi.:lirg care to r:..:.arl:'

lOO.O•JO patients frorr six locatinno 1n C1ajottE Ga' oni.1, H ..mcrsvillc, Mauh~w=, Kings l\1cuntain and 3a!i3Jury. This tus 1ess approach to medi:in~ is m imponar facto)[ tha . disti::lguisbes t c::= fmm its rompetitors, says Dr. AJ.lic ·'Goc's for the o~g;miz::~ticn .:.re o~t based orr our =trategic pla::1 and _he CEO is er..1pm~red in Lle true >~nse of tle w:Jrd :o xhie,e tl-ose 5oaJs," as:.erts D-. A"" uko. "He ar:l hi3 nuna5ement te::m arc hdd accountable, 3 [ 0\-Jing the ccc. rs to gn back ·o tl-u: bmincss of pracjcin~ medicine whi_~ havi lg tht menD c.. mfcrt tl-.at there is at ef:cielt melbr sm ir: pla.:e ..hat m·ersees and :nonitcrs he business plan ' Alth _•ugh the :lec..sior: to implement a sy.:;tem was alread~· oac:lz when Steph~n .vlcAt_ams, V.D., FC.C_F, iuterviewc.:J f, r the CE:J positlon in E)•;q, hi~ prior •2Xf~ricr..:e v-ith :::M]. gave hi:- ~

may

~0:3

lq


an a:! vantage. "NK::C knew the.:; wanted a sy5t::m and 1 h;:d knowledge of one

on each one wd a '5tner bill' is aut::•:r.atica-ly 3ent to

.re ched-om desk so

patier:ts don'L have tJ ::arr:; any pa~ er bills t•::> the des :C." -=ni= hei-Js not o-,ly

~n

fact, it to:Jk oore tian twc ye3:s to

build consn:~r.:s arm... nd the p-ospect cf using such ;:: system, ::tales "J-. Aluko.

th1t worked \Cry well for us when I worked for a pra•:tice in Ind~napolis," say'S tAcAdams. \.--'iti facts ar_c_ figures

with dicienc-,.., but 31SJ with the ke:-pi..J.g

m hand, he \vouud .JP giving a presentatic·n tJ every doc or sayi:1g, ' 1 his is

track Jf bills ".Vhich rr my ~imes usd ::o go hotJ.e wit!- patic - t= wh•) forget .o Sl·JJ

<vhe:e your p·acLCe is currendy, and this is w·1.'\l l thin~ I o:ar.: do ·or you." When

at the desk on :he \:.ra~· out. Also si:-a

lh~

3Ut::>rr.atically 1.: pdctcc electroni:ally Ttanscri.p.i·Jn cost; were also re:._.-:e::l · y nearly $3,000 p:- physician sin:::e

clinical

. hey cnly ned to di·:l.ate a few Jar3sra?hs compc.red t: t-·e pcges cf d.cG;..ion n:q.Jired b?fore t·-e S)Stem.

Althcup n.inin::; -wa::: r::roviced "'hen the s;=.t:::r. wa:: .-irst ins allcd, Dr.

physicians sc h:Jw their data com-

pare3 with other~ s<..ys l\1cAcams, it msp;tes all of them .o be more efficient. l

:::onsequmtl~, a:: a C·JSL cf $1 millior, J.A:::C executives -.Jrcceeded with a systen

c.le\'eloped by Ga e\\ay Electronic Medical T.vlana5ement 3ys·err in Indianapolis, ln:L ·,vhich inte~at~d the bi.l'1g system, ,;che:iuling, p-esaip:ion writing, doctor vi.,.its and hospitd e1cot:nteG. Return on in· ·esnnent was a:::hieved qui:kly, as the pnci:::e raised re~·er ue by y: ?Crcent the lir;t year of inpkmcntation, and 18 percnt end 10 1.=ercmt reSJ=eCtive]y, the fo]Jo'Vi.:J.g two yc.ars according eo t/lcAdams. "Additionally during the first year our o·/erhead went from 62 percent to 46 percent because L1e practice b~came more efficient in evcr·y respect 'rom crecl<ing in patints to seating them in the rooms," he e~-plzins. The system

tracks all the pati::ns' movements: when L1cy check in, ho.v h:mg they sit in the waiting room, wocn thC) go no the .e:xarr. room, h::>w lor g trey are with the :.o:tor, and the Leta! time of tl'e visit. D.1ri.ng patiert visits the physicians are armed will hmc-hel:l "p~ n top" ce·;ices simila: to srr all lap to J computer3 h wh ch they inp.tl informatlcn into the pa:imt record3 elecr-onic.ally by using a j:•oin~ J.nd die< fermat. fo.ccmding to McAdJ.ms, du ·in§: t~ first ye3- alone, th·~ r ractice saved mere than $3C /00 in

ra;:>er costs, n•Jl w mention t 1e time it Lsua.ly takes for< doctor to flip through ::npious notes anc p:tges of a raper file. "ft.lso, the-e a-e several bilhng codes ..1n p~1ysician3 uoed to have ·c remember ...~re:n filling O'Jt ne ::>illiog pap~rwork," :dds McAdams. " ,Vi h the new system, t 1c.y have the treocrrcnlldiagnCistic terms ~ n the: compu~er md they sin•ly click

may L.OC3

billing codes ·:bange f:requo::mly, the:; a::

-'\dditionally, medica! .recmds salaries ia\.e been recuced =y $105,000 ar.d for referral cr-ers and repetls =·) 1i20,0•)C. E\'en the C•1st of ~efillhg 3 pr:::;crrption, whic.1 McA::.am~ estinate:; tc•

::>o~tago::

la\e been fro:r SI:: t·- $12 each tc ref.!, .>.•as rEduced to abCl.Jl 32 e1ch. "\"v'e fill about 30C pre.:;criptioro- a :lay," ~ays McAdam~. "A.nd surpris.ng]·,

.he:e ue about ten ;:t.;Js involved fn tr~ Jroce,;s J.nd b?twecn S<.aff time and rurlins cown cha:ts cn:i,getting a doco·-~ Jkay; .1 was pretty cody and time-c•:n;uming. Now, docLltentat:on is. more :o mpb~ and a:::ce,;.sit e at the tJuch o- c. JULor, Jnd si:n.::::e t:-.c o.ystem albws '::1 ;evera. people to ac.:;ec:s a recorc at ·e ;arr.e time, there are fewer dela)-s." Pe:bps most icrprtantly, MCC Jelieves the system r e:. ps t:t.em ?rovidc Jetter emerge'lC)' care- attending Jrompd,r to patien s ~hen Lime is oft!-~ ess£:ncz. "It hElps fu:J..tate patie:lt cat':" .assut~ l\1cAdams. ''VIle hav~ a doctor 2.1 -:>resbytcrian Hospi·a. =.ll tl:e time ,.\'e-y 1ight, all nighL "Ne bve "ccE:ss Ll •1ur electronic ned Gll reccrds in the cuh '2b 'SO when the. do:to:;s in the r ospi.3J 1av:: u:, go see c. pa· cnt in the etJ.er~ocy -ootJ., ttey just call Lp the recmd, :::rtt out wha~ they reed i 1literally L"VO rr _r.:·lle,., and take i~ dmv-r: to the ER. Y.IC?.'re the only pracuce in Crarlo.te tmt d.::e5' rnat."

•f t Al:hough versed :md o-killed in compl:x med .c.al w::J-·wlogies, MCC's otherrioe cor:.fidert, '3.len.ed physici~.:; 'Vet~ Ln~asy

<!:::out :r..::>lementing

:::J..n:..

"Physicians J~ ~ grour:: are ro::s'stam to change," he a:lmits. -[.y training they are very incvidualistic and it is difficult tJ get a gro.1p .o develop a :cmnJn standard of :ae Tht system 1elps us cocument b.J'N we p-2.ctice, e im natin::;

redx.dancie~

and ird..vicLal

practice vati:a·iJ'1S that de ro er:l'ance patient carE," sa·;s Dr. Aluko .

Aluko adm:rs t.IJt th~re wa~ e; lit l ~ 'tra uma" in·. ~·l.-ld th.:: firs· ye::tr as J=hysiciar:.s and ::taff oc.v:gated the new terrain. "~t ·s·as frustra:ing a1c timeconsuming <:l ftrs t bec:~Lse there v.:as a lot of data n.ry. We ma:ie some rnist.;lkes and we ha:l to 5et usd to not having to dida:t as nJCh anc to manipulate the hand-he.d c£\iCe3." he Eays. Dr. Cecrge lwns Jne o_. tACCs founding p\!.>icians Dd CI-a-lou's fiGt board-certifie::l cardiologi~t, a5recs the first yea r wa3 clullenging, but thlt eve:1. though h~ '1\3.3 r:ot computer oav-.r:•, it was easy to Cot:h on. "The firs: .J"C1r it :irbe3 ?CU rus because )-OU raY:: lO ::>Jt the ilfo-oation in IT8n..Ja11y and go tbr01.:gh all the records a:1.d irput everyth:n.s ~md rhe n review it. It ·.va; time-conrum ng " say~ Dr. lrons, 'd:o a:lmit; he never thought 1-. e'd see the :b:; there 'IN3S ro paper file t::> handle. "::::•1-t now 't is much s:moother I I kc it be·:ause a l the inforoation is re'-dr y accessi::>l:: ;~rd h the :;arne foroa_ '{ou don'_ ha,•e LJ k~ep passing the Ill~ arourd beca Joe more L1an one person can J.cc~s.:; tre ele:,ronic file a· 3 time." The hitu l systerr. rollout .va~ xcomplished strateg·cally anc well p !an ned, :3tc.t~3 Dr. A:.Culo. "VVt: relied it :ut one offi::e at a time ov~r a six:<onth pcricd and ev::n slov.e.j dYNTI ::1e speed o= ::·us ness. [or abou a mont·, .:. hen the sy:t~m was first insBlloo . Despite the r-c tZ'1tial1os; of rtvenue, ·1:e cut dCW'l on our dinical prac.i:e, •)wering ?at em officz vohDe so that ·-1;e could ta.o<e i. slowly," hz e:-;plains. s~eate-

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1\S f:a- c.s p:tt ent -e=.pcn::e;. 1:-. f'lJim sc.~o :ha lll::J~I p:op e ha..e reacttL pJsit vd,r O"l•_e t:-ey becn:.t '.:etter c.o.1_wintt.c. ._.-it1 the- pr=ced.:c "In gene ul pat..ietr~ re astou-x:led _ha we a-e ctle to ha<'t. ::tll -::u·.::nl :-~fo~-u<. on z.o~et;sib e t l -o 1,- h J...:: .b n:.l- I L kl con·-

p.ne-s. It's inpress.iv:: tc• t-e-y ., be sa:;s. "E-J t we die~~ :c:-~ f::::edb.x:k =·first Ercm sorre J'l.tients "'-OC fc t L"Sl the d.xwr was t•J::> [.xc~zcc Dn tb.- c ··mpmc _" he ax:. c.>'. '[, w;: h2:e c.J k _ssed

tklt :;ituat cr. an :l r .v .:1a. "J 1,~ tcian..; c.-:: 1.ore frrihc -~-.. 1 the eq-:t ::ment. •:} car: fo::llS

o• Lhe

IT C~E •"lll

J:e "J1·.;cnt than

t•JDI1-~elr''

' l do b.l1eve tlu: cne di >a:J.,anta§e tu the syst.::L. i; -1aving to "June in d 1ta \\.JeTI ycu·r.. Yl tl! a J:Bli.::m,·• <:6-:es Dr. Luns. "l ·.hr1·. 1t de•- cts fro:. lhe rebr...::~hip ~i h. pc i;o:- There}'-~ to be mme on :::1. •J1:: r-~ I li,.:e u 1aintain e:,.:: COntcct I'n Jf:-c. .j i. rra; gi'we the F:..ti::nt thE irpr~~sb:1 thc.t G.'; distrac.in3, :;o I ::l.::l v"'iib r: ~ F ati~u ·nst and pt. nch in tl-c inf Jr:n.<:i:-1. bier • Aarcm r1.::PJ .xan:ie:t, P:1T , 1 p....ti?nl <vid:. MC::: f,;y ~.i:x ye ar~ . :-eels t.J1l the c:} a gc ha= ::e1. a ;:c mve one. 'lth nk it3 t1e f JU::: ·or no:t1cdiC1l J=>GC ice; " ho> pt·'clic..s. 'Cver tl ~ nex _ L'-e ;ear~ ·i ·hink -e, vvo~L o-IJ ha\e it:. I hirk t1~ ~y.;t_t: rx.kcs t-J-gs

cCi~

Tline the [:!•1\.~n J! j:atl~nt pcpu at c-. io- 1 5ntdy wle- ;hl t:::tch·e~ a

r::s::a:::h pr:rocrl ·rc11

:t

::•rrpa.r.1 o-

r:s::a:::h ce::Jter.

krowledge o · .he p1uen.s so .hey ca-. lend u5 in:;ight into 3. pa iculaca-.jidate- e·ce we get too -vohEd. I ·Eakes thirg:; mo-e efLcier:.. ··

-r can

e-nter wry D~·-i.lc q _erie~ ta:e:::1 on the stud·; R•-Lirc:r.::ru.s ani cu~d: ;· "Jull Lp 3 is· ·:f J-CI.nt a. plie-rs wl-_o m::~ qu1li y· ;te e:<plz..ins. ::t.lsc u~ the i-.fcnra.icn to Jxun~ll. m::l c.ompa -e c tco-ue:;. V/her ;:~

·,•;e

r?S<:ar::h sp;:nso- con.::s bt a site ,·i~t t v:::r w:lot t • see- the acru 1. n.1t- bt:r5 <II \\C can sho ,~ t -,- t lo:'tl ' :=re'."in{ton 3lso :;Jys tllc.- t1e syst~m h.dps 1r co ·r mu:ric:HLI!-, with the ccao:s. "\.\.'.:: :ao sen_ <n :-•all \.lit.:" piie-r infc·rma·iJn ;;.na::.:h.:~ :;c tre c eo:to:s :ar sit at ·he - dt.~J:s and re•cew i ~:1cl -.ot t;:~\·e r o) scamble. br chans,"

sh..:

~se~ts. ·'Al~o::.

e\ ::ry da:' ::n::ese:u-d-1 nuses ~ree-. th.:: 1~: d r: e-~ cc:nhg ·rt t~at cay for pcte::a or dida·es lor di]ne-u. s u·:.ie5. oOffie:JTI~, t}.ey ·a\e t n~ tc tal~: wit 1 tl1e dec o:: ·;vl1.en hz

t

11 0

While th2 concept of dati.. miring is l ~)t new tc ·:l•nvcn.ior.al bt.siness~s it revoh.u.ic·r:ary in the med .::a! indust·; And MCC is bnditing fr.:m bcing t 1c forerunner. "Da.a mmmg ncatcs q~::onunities :or any pr;;cucr to povid.e optimal ratien. ·:are atd enhance r:r.:tctice rue TJO:: an::! efficienc ,•,'' assen; McAdams. "Our praeiice rr:e•.:.cal r=cords arc more than si;:npl~ a colJect cr of pat cut name~. hcal:h histcrics, lab results arc ·ccorr mendecltrea ncnts. By u~ug tech-.ok•g;-- •:- col E:•:t arrl store the lata i. Jec.Jrr,e:: useful i::-tk:rmatiol ·!-at help us qx.cate em business n>)rc el"ickntl) ~nd pn.lucti\·ely."

biz

C .:1:0:' idertify

coc1.::s 1n bdcre we ~PP·.Ja:'-:. t.:-e rat e-t. TL:: do..tcrs -1JL l:cter

Lynda A. Stcdfer JS a Coorlwte-tGed fre=: once w;ttE r.

O•Jre efti: ert, aod - ar?tltin ~ i1 has =c~

my -rtenaio"J:'. -x-.th

L--.e :.Jctm

b:.1:t.U tb.n 1:ef:::H~. (J.,e- L~ f

..C

seen

o·; doctcor b~cone :no::: C<JtO.::rtable v,nh the te•. hnJ..Jg:.-: x:'s :-:o_ a:: focus.::d cr: using i ~cs he \\'<05 h th~ :::f-§J1ning."

e

1

h

)\s a pn·:·i::~ ce":)·d to on-going c_Lal ty c il cd e:,.:~.:-t, ~ICC JBes ti-c sy:azm to dcn.Lfy J=L ints ,,.-h.w ,vould kn:Jit froo relev;: _ d :~ica t· al s. As a T'E':OL-t, t--1CC hc.5 tee. me: 01c cfl.hc nation's !::ad ng ~nr:Ins :n : :r :a! s· nd es due- 10 ]t; <:.b il:" t•: pteduce a ' ;~t. e p.::j:l btiCL. _r~-. I;re" irpon,

cb-Eclm ,-~ -zs.-arch lt -,1CC, Q.ln3.ges a :;taf- _,f ~o \.'*'to crrntly c·~e-;ee n.:::.- tfu:.r. ';:) -at· <~-i -- 2,800 E-~_PC.

JX!liEntS en·cl[ec. 5 t~:n

help:; 1 Cl

~r=~te-

704.815.4545 100 Matt he"'s · '1 r1t Holl i<o<d •

~latt~e'"-

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cl- ar C•tte

bi~

may 2003 2 1


by susann e deitzel

Uncommon Wisdom for Shared Success Wachovia and First Union use uncommon wisdom (and a lot of common sense) in pairing their strengths for shared success

Most pundits now agree that a big part of the rea son for Wachovia 's success after its merger with First Union is that it has taken conventional wisdom in a merger integration and had David Carroll turn it

WACHOVIA

on its head. It may be unconventional in the highest of banking circles (or "uncommon wisdom" as per Wachovia's slogan), but Wachovia 's emphasis on customer service and retention has certainly proven to be right on target . And, even without rough translation into Spanish, it does seem to make a lot of common sense! According to Carroll, "The best banking strategy is to hold on to your existing cus-

tamers." >greate~

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n ay

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:L3


Led by Ken Thompson as CEO (now also Chairman), the two legacy companies,

over the whole banking spectrum includ-

First Union and Wachovia, proposed a "merger of equals" on September 1, 2001 , the resulting Wachovia conglomerate mak-

employees, financials , regulatory and a host of other concerns. Each department in the resulting company has dedicated

ing evident that bigger can be better as it redefines the banking merger paradigm in a new and positive light. David Carroll, cohead of merger integration, explains, 'The

members to a task force focusing full-time on the integration process. Says Carroll, "Every week we have a meeting of full time integration staff to calculate 'warm spots,'

Wachovia-First Union merger is different from the ground up -utilizing an innovative financing technique, preserving and optimizing the strengths of each legacy company, and making it most important not to lose a single customer while doing so."

where we attempt to isolate and head off any potential inconvenience to the customer. We categorize events as 'green, yellow or red' to mitigate potential problems before they occur." Although the attention necessary to pull off Carroll's level of detail would seem to be very draining, Carroll appears posi-

A Merger of EqualsFirst Union and Wachovia just prior to the merger, the standard accounting convention changed from pooling of interest to purchase accounting. As one of the first mergers done under the new method, the legacy companies avoided huge purchase premiums. This was of paramount importance, because it promised the resulting organization two key components to their success, namely time and capital. Says Carroll, "In most large mergers prior to the change, the extraordinary purchase premiums required a rapid fire response of cost cutting and quick-fix revenue synergies. Rapid integration and radical changes resulted, and an average of 15 to 20 percent customer attrition rates resulted ." "Contrastingly," Carroll continues, "we had the luxury of time to make thoughtful, methodical plans that would allow us to focus on the processes, products and technology that are vital to keeping our customers happy " Carroll points out that when companies are forced into rapid integration, 'They are so inwardly focused on procedure and platform, that they lose sight of what is most vital to the business." He adds, 'The small mistakes are the ones that cost your business the most in the end. AIM downtime, delayed or missing statements, too aggressively consolidating branches - these are the things that can lose clusters of customers in a heartbeat." To avoid these problems, detailed merger integration objectives and processes have laid out a deliberate approach to calculating and monitoring risk management

24

may 2003

ing customers, systems, operations,

tively charged with excitement. He says, "There is a certain culture of paranoia endemic to the integration process. It is a demanding, humbling experience, but very rewarding when you see the payoff." Carroll is quick to point out that in addition to the merger financing logistics, it is the particular combination of the legacy companies' differences that have made Wachovia's success possible to this point. The disparate cultures of First Union and Wachovia had raised more than a few eyebrows when the merger was first announced. It was common knowledge at the time that First Union's "aggressive and entrepreneurial style" had caused some problems for the bank, while Wachovia had a more conservative bent, emphasizing customer service over product. The unification of these entities proved that the whole really is greater than the sum of its parts. First Unions acquisitions of topnotch networks and full tilt product line, paired with Wachovia's impeccable reputation and execution, have created a formidable adversary for the big boys "across the street. "

Customer Service Dissolves the After-Buzz There were plenty of skeptics and naysayers, not to mention competition, after the merger announcement. Sun Trust Banks, Inc. , mounted phenomenal efforts involving the legal sparring as well as a highly publicized proxy battle that threatened to prevent the communion of the legacies. Industry experts focused on clash-

ing cultures and threats of "empire building. " Motley Fools 'Fool On The Hill' report (April 16, 2001) cried, "Big Banking Merger: Investors Beware," and noted Bankstocks.com analyst Tom Brown even said he "had disagreements with old management of First Union, and . . objected vociferously to the old team's serial dilution practices. " Now, over two years later, the industry chorus in considerably more melodic. Tom Brown has since recanted in an article entitled "It's Wachovia Timel " (December 4, 2002) and even given the new company his 2002 'Bank of the Year' award. In March of this year he summed up his enthusiasm with, "The 'New Wachovia' Really Is New" (March 4, 2003). Brown explains that Wachovias emphasis on customer satisfaction has pulled the company through the integration process, calling the new Wachovia "a competitive juggernaut by any standard. " This turnaround is understandable. At

American Banker's Retail Best Practices Symposium in March, Thompsons news was aU-good and the numbers undeniable: the merger created the 5th largest bank in the US , and the 1st largest on the East Coast. With customers from over 9 million households and 900,000 businesses, its assets tip the scales at $348 billion , and it has achieved Top 5 national ranking for Capital Management, Wealth Management and Corporate and Investment Banking. While integrating and managing this behemoth, the bank's internal customer service scores have actually increased , jumping by 16 percent since the first quarter of 1999, and annual customer attrition has fallen to 12% from 20% four years ago. At the same time, stock performance has improved from (-)56 percent in 1999 to a 19.5 percent increase in total return in 2002. No small feat. Plus, they received a Moody's credit ranking of Aa3 post-merger. First quarter earnings recently released indicate 2003 net income available to common stockholders of $1.0 billion or 76 cents per share. Wachovia's obsessive focus with customer satisfaction has included spending $100 million to retool branches, call centers and operations; adding strict review procedures; establishing channels of feed-

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back from staff and real-time feedback from customers; plus innovative solutions like the providing the first available online check imaging system and customerfriendly collection procedures. The company has scrutinized traffic patterns at all branches and made customer convenience a higher priority than cost cutting, resulting in a minimallO percent branch consolidation. The customer emphasis combined with what Carroll dubs as an "amazing chemistry and compatibility" between the legacy companies, has worked together for the overwhelmingly positive reception from Wall Street and the banking industry Canol! reports, "We have grown deposits, netted customers, and had sixteen consecutive quarters of improvement. " Carroll says, "Both legacy companies had been investing heavily in talent, training, information, technology and product prior to the merger, so we were able to compare notes with relative ease." He adds, "Of course there were differences

Strategy is the Key to Successful Performance.

between the company cultures, and in addition to maximizing the strengths of each, we also looked to reJeCt those that were not going to benefit the end entity We surveyed our 80 ,000-plus employees for the strengths and weaknesses of aU components, and in so doing were able to lay the framework for a set of core values that we abide by " Via these core values integrity, service, teamwork, personal excellence, accountability, value of the individual and winning - the new Wachovia wants to "secure the position of being the best, most trusted and admired company in the financial services industry. " Wachovia's new branding, including logos and signage, clearly embraces the "Merging of Equals" paradigm set forth by the integration team. The logo depicts the green of legacy First Union, and the blue of legacy Wachovia, flowing discretely into one another. There is parity between the two, overlaid on the Wachovia blue background. Some compare the identity to a river, some "birds in flight", some "two interlinking v's." The modem look of the new identity is echoed in Wachovia's marketing campaign, "Uncommon Wisdom for Shared Success." "Uncommon Wisdom" emphasizes the >

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Ou r game plan is simple. We help you make the choices that move your company forward . Ours is a skill honed by years of experience, and by carefully selecting lawyers of the highest caJiber for our team. We play to win, of co urse. Yet for the business lawyers of Robinson, Bradshaw & Hinso n, ea rning our clients' trust is the ultimate victory.

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may 2003 25


innovative, revolutionary approach that Wachovia takes to customer satisfaction. "Shared Success" implies that without cus-

"Culture is your #I Priority"

tomer success, there can be no Wachovia success. The rollout of new signage has already occurred in Flmida and Georgia, with the completion of the Carolinas' rollout by the middle of this month.

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Extending Customer Service to the Baby-Boomers Wachovia has not been stalled by integration or resting on the laurels of its current success. Carroll has also been responsible for overseeing due diligence for the recently announced plans for Wachovia and Prudential Secmities to combine their retail securities brokerage operations to become the country's third-largest brokerage behind Merrill Lynch and Citigroup. The deal is said to create a combined business with client assets of $537 billion, 5.9 million clients and estimated net revenue of $4.2 billion. Canol! says the Prudential deal is academic. "Because of the incredible tsunami of baby-boomers' financial assets that will be changing hands, we must be equipped to handle the call. It is a fact that most people prefer a brokerage to manage their financial planning, retirement, 401K and similar issues, and you cannot be a major player in the financial services game unless you are a major player in the brokerage business. We are accelerating at a rate that will put us on an even keel with names like Merrill Lynch, Solomon Smith Barney, and others. " The brokerage deal should be finalized just as the integration of the new Wachovia enters its final phase in the 3rd quarter of 2003. Although the two undertakings are significant, and temporally very close, Carroll is confident. "We will be using different resources for this deal, and we would never have undertaken it if we had in any way thought that it would compromise our integration with the new Wachovia. It is the right time, and Prudential is the right company." Sharing the Success Since the Wachovia merger and its subsequent success, Wachovia has become a much-touted model for sound

26

na,- 20C ~

greater charlotte biz


and responsible business practices. Businesses trying to overcome the negative publicity and lack of consumer confidence resultant from 2002!:; corporate scandals want to contribute to and gamer support from the community Thompson was tapped by President Bush in December 2002 to join the "Business Strengthening America" campaign. Flanked by the likes of Steve Case of AOUiime Warner, Michael Eisner of Walt Disney Productions, and Robert Nardelli of Home Depot, Thompson answered the call for corporate citizens to participate in the well-being of their communities. Thompson provided an op-ed article to the Charlotte Business journal after attending the event, and shared his enthusiasm for the project. "We have come together in this effort because unique needs exist that government and non-profit agencies cannot meet by themselves. " Thompson also congratulated the Wachovia team for their contributions and promised to provide them even more incentive to work in the community "(Our people) coach Little League teams , build Habitat Homes, they are Big Brothers and Big Sisters, and help out with United Way campaigns and Heart Fund drives. " He adds, "We have reached the point where we need to ... formalize and structure (these efforts) and to empower employees to reach our to communities." The Wachovia merger to-date has been a benefit to its customers as well as the community With its forthright approach, thoughtful strategies and customer focus, Wachovia continues to invest its knowledge and values into a business community that will surely benefit by its example. ln keeping with its uncommon wisdom and shared successes, the inaugural Wachovia Championship, a brand new full-field PGA Tour event debuting at Charlotte!> Quail Hollow Club this month (with a $5.6 million purse, one of the highest on tour), certainly bears witness to its unconventional approaches and sharing of success!

CORPDATA P

R

0

D

U

C

T

S

since1984 OVER 500,000 PROMOTIONAL 1TEMS.

PO Box7148 C arlotte, NC 28241 -7148 2920 \\hitehall Park Drive, 28273-3333

704-588-8882 Fax 704-588-8886

biz

Susanne Deitzel is a Charlotte-based freelance writer. greater charlotte biz

ma:- 20 C 3 27


Bot Wiring the

NEW Wachovia

The 'bricks and mortar' approach to the financial world-countless banking branches replete with

WACHOVIA

paper checks and balances-has been increasingly supplemented by elaborate, behind-thescenes technology that has become an integral part of the financial world.

The technology that brought us the convenience of cash delivery systems also brought us the presence and accompanying paranoia of computer mainframes responsible for recording our deposits, personal information and financial records. Like it or not, if you use a bank's services, you are also involved in the financial technological revolution, the processes of which are still largely esoteric. greater charlotte biz

>-


Front of the House Technology -

pc ~1..L i =L \'Ll ne:.-c.-:~ : fu~l t:• C>.lt5D <: forces

with their particular legacy company. It

The Customer

w <.: ':!.:j:CS: d '

was these employees' passion for the

U.ny tim_n :-"l l i:-_st ..u iors ·.vere hit

While the d etails of financial platforms might elude many end-users , it has become evident that the financial IT developers are a world-class group of techno-intellectuals who know what they are doing. And, in the case of the new Wachovia Corporation , they are doing it faster, more efficiently, and more accurately than ever before. jean Davis , dubbed Wachovia's

:y ~ t: ir.-...::~tr::.ent .LtD vo; l_;:_t J:.l:.e:: tc ·= (' a -:e:..; p ·omis::1_;; fLUre fJr •: rJiJe tai -ting tfd.nolcg,y. .3e~ ·al CLIIJ:ed m :Lio-:s o: ci.olli. ~5 .r.w a fancy r~ont-:':!1:. ::nlire banbng ~·.;te e that we.: rigi::l a:J.::i c:Js..Jiete b:: the t me tha· the j:•t-<.::::•m boJo ~nded. T~ := irst C rl on/\:.T=.ch :yvi;: m.::.rger eruipped the J.c.roi

res·J_ting ecn; -v:.tb

~ve:i ad'<II11age~

endeavor, and their will to produce the best possible system , that propelled us into the extraordinary union we currently benefit from. " Like David Carroll, the other Wachovia's "Co-Head of Merger Integration", jean Davis auributes much of Wachovia's current successes to the unique chemistry between the two groups . "Of course , everybody had situ-

"Head of Information Technology, E-

:::tc.: co:uj:eri-OG i ~~·d: a ::x:l\"'crfd nel-

ational differences, mainly regarding

Commerce and Operations", has lead

·po;-k r::uine:i i:1 ::::te Eme:-.::L::l

communications. One legacy was used

over 4 ,400 IT specialists in evaluating

=,epos..rc•I7 S:r::t.::::o ' != ~Uo :-.,;:. ~ t :.:e-of­

to having a centralized locus of control ,

and integrating over 960 different plat-

tl:e- ~ rt

the other was distributed throughout a

forms from the First Union-Wachovia merger into one , functional system.

d :n.a Cf;-J.::::: •.vird fJr <u:l·Nare a::td _;of:..-rc. ro:: \I.L:t redunic.r. c rc.works c.:-.d -::o·: wer ~'Sl= , as well as ?'"of.::s-

strategic network. Once we overcame that and the regional identities , every-

Davis says , "Back in the 1960s, every-

thing began falling into place. " Davis

one wondered what practical use the

says that IT staff turnover stands at a

-·J2f. brcLgrl t-uge <m10u1ts of

huge IBM mainframes would serve. In fact , banks were the first big users of

rte1licr -::.:· tecm;:,logy an::l cu:-

the new technology and ever since we

fdinE

~ed-1::_~b§~cl ~er'i ~s. for

quiet 1-2 percent , as compared with 20 percent in the late 1990s. With Wachovia's central focus firmly placed upon customer satisfaction , iL

have remained on the cutting edge of ::>nl•t t' Cit S(ena' J ,

technological capabilities. Whether it

llll:

involves the obvious uses , telephone

c•pencc :;: :::Jarorcm ic

Yie'A

tut af

is understandable that a huge portion of that responsibility rests on the performance of front-end systems. A large entity

banking services , AIM's , or online bill payment and reminders, really, anything

v..,3t we ne::cEd to artie pir.E.

like Wachovia demonstrates how bank-

that requires a receipt involves technol-

TI-c do:-mm :rash instru:t'!<l us

ing, investment services, retail , corpo-

gy is also responsible for credit and

to bE 11incfu CJf :·u' t.:chncloJgi -

and so does the need to address every

lending services , financial management

c.; ::!rid firun(;a' (1-oict:s. ::cJ!. 11

component of client accounts to maxi-

rate and private banking have merged ,

ogy. " In addition, the current technolo-

features and securities trading and

st J'Neo::l

insurance offerings. More and more , as technological

J5

gHrdir~g

familiarity and usage grows, more indi-

h:: 'lece;s ~ of s<lfe-

c--r ~y:;t::ms, ard n:n:

im::Jo·tcnttt -:::Lr ostomtr:, as

viduals trust online banking, account

::>u· p::>tenti;al \.ll rerability :o :Jilt-

maintenance and lending services to banking technology rather than tradi-

;ic~ ~rces

tional methods of banking . The effects of Y2K , which involved tremendous

Jea1 Da•tis

expenditures into tech spending, the

Ser ·N

effects of Sept. 11 , and the burst of the

Wa:107 c

·sa: e>:,_-cosec:

:><~:.rtfo.·e-

'vice P-esido::nt

:o-~<J-~i::;n

nology staff uses a company "dashboard" to gauge the effectiveness of Wachovia's systems , and ward off any potential downtime . In addition to monthly planning meetings , IT also conducts real-time assessments and a "gut check. " The "gut check" presumes to ask if a solution worked , "was it the optimal

dot-com bubble have molded the o :- :1 ~ : -,er~d

indf"erJlg

1-:- cbres

industry tremendously. Says Davis ,

s

"Y2K brought huge amounts of atten-

that cc..:._: :;1-•.m : t!-.e: r ·:nowled.gE bse.

tion to technology and outfitting tech-

T:te tee!- n:J .o .s cd 3.':peo:t o: th"'

nario , but opened a panoramic view of

w -;_ s :.1 c:u:nl a::; d d ~·J n :ing rask. Eo-,.>ever, Coc.•;:.s e_c •h _ns :ill.: the Lnion

what we needed to anticipate . The dot-

o · the t ~ d-.nology p::scr.:J.el w;;s rc la-

com crash instructed us to be mindful

ti ;e.l;-

of our technological and financial

aud a ccrni:l ? ~~ ~~c::L"t that :ec:1r ob-

nological services for not only that sce-

mize the products of the services provider. To address these issues , the tech-

me~c

e.01..0 :•

-T :1:: ~~ .s .l ::ntai:n ta lcr :,

solution or were there items that could have been improved?" It appears that even if the systems get a passing grade, they still pass under much scrutiny. Back of the House Business: Operations While the technology involved in

choices. Sept . 11 showed us the neces-

gy personnel n.:.r . ·A- .:t :me G.mth ~ r.

customer services is obvious , there are

sity of safeguarding our systems, and

Actua!J:,. tiey pcrh~ps hc·.-e ::-.c --e ir. ccrr.~ ·Jn ·;,·iJ.J-. ': <JC-1. Jth::-r tha r. they do

several back-end processes like market-

more importantly, our customers , as our

30

may 2003

ing and cross-selling services to eligible

greater charlotte biz


clifl.ts :ha· :-equire a heav;r exp;:rdi.u:.

Another platform not visible to the

of _chnologi ::al and persornel

average Wachovia client is BrokerAudit.

res •urces to max.imi;:e the relaco1si~

According to the developer, this software is designed to help banks "moni-

fo ~ bot~

corLpany c.rd cuHJmu. For example, ·J re accounthg s::;y:;

D l.""is's IT staff has b::en re~or.si JIE cr int::grating SO ,COO V"eb ~_:ages, :.1rd 33 miilior. lines of cooe, and c:nat ing c..,.3.

13 million intra net page re::_-Je.:.t~. -=-t- e: rr r st acccmmodate ::wer 61) m.Jl or "There is a ce•tc:in ta ent,;ard .a

tor brokerage behavior, monitor the quality of supervision , accommodate the firms business rules , review client profiles and manage risk. " Of particular interest in the case of Wachovia is ELM , the Elaborate Likelihood Model, which has been transposed into a variety of platforms. This approach is designed to maximize

certain perspective that technology person ,el share with

Wachovia's most important intellectual capital, namely, its employees. After a

one 3nother. Actually, they

merger the size and scope of Wachovia's, the undertaking to integrate

perhaps have more COIW'Irncr with each other tha11 tre• de with their pa!l"ticul•n J=ga:::· comr:any. It

WCIS

thes= em~·loy­

ees' passion -=c·r the enceavoa, and their wi I to prodll(e

t1~

best possible ~stem, th3t prcpelled us into the extravd nary union we current!:! t-er,ffit from."

•• '\TM transactio:l.3 per mo::ur f-oo a Oint cus:omer oo;e of Q7;:r ;_0 rrll!.ioo =lients. Yet ev::n the3t: imp:-essh.~ :igtrt.; ::~.re

still the t:p cf the icebu~. Tl:.c

J<.n ~-<ins

ir:dustry is one of the rrc:5 "lighly regulated ill the word. Du ~ 1c ~ver-cl-anging a·d e·ver- .r.ca:a=;ir g oe~ds to acccunt for ea·:h uansacco1 arc each con·:~rsatlon, all o:orre~ p:md~-ce rr.ust te reco-de:c and r-acl<>':c. Fer

example, SEC Fde 173.-4 a.:J.c ~~-rules 3010 and 3~10 re::,_·J i:: :h::.t ~ l financ al service~ firms recc•rc a l•l supen. ise all electronic conrrruni : <..ion between empby~es a:::c cli: n.:s. o-~ of the systens 'lv'ac:-.ovia Lses tc d:J t - i: is FaceTm~ C •mTunicct on ~ !".;[ -l.J :.i.or, an ema ~l md ~r.~nt r::t?.SS~?,hg, ca: LUre program Once the commLnka.i rs are captu-ed. they are in:.dinLely ;.r:: - i·;ed.

g ,- e a-: e ,- c h a rl o 1 t e b i :;:

talent, systems , operations, technology and every other consideration is positively mammoth. The ELM platforms make it easier to optimize knowledgesharing, and connect the proper personnel with the right business issues effectively.

The Company/Client Tech Connect ion While the mere mention of these systems and their capabilities is overwhelming, jean Davis emphasizes, "We value technology for what it provides our customers , not for the technology itself. " Another executive for the bank communicates that , "Business requirements must come first and then you build the technology to support that. " Since Wachovia's technology is essentially customer-driven , a major consideration is privacy. Industry regulations mandate considerable privacy practices to protect the customer, and Davis says that the size and diversity of Wachovia's offerings plus the technological expertise and systems ensure the highest level of protection possible. "We take the welfare of our clients, not to mention the letter and the spirit of privacy laws , very seriously. I believe our customers assume that we will handle all of their information with great care, and obviousl y that is a priority for all of us ." Another of Davis chall enges is bringing the cost-cutting benefits of technology to bear. >

m3y 2003 31


•n :: i r cus. y ar alyst : u llermo r::•pp .-fT:J\ver :::;rcup , S<l}' "3 merger is l · k:::L~ ·c p-,_,,fJCe 130 -::t-eem

Amer1trustWay!

oppm:urd y r. lT c s . re:Lctbn ... if y::•.l de the3e ~..osclidati ns right, for e· e:-y c II ~ ·J .l sa"e in 11. y CU can sa>e T :> tJ '!i7 -. ot1e1 OJ= O:Gti Jnal expw>.s." T:xJLob gy can r::gularly

A Better

AU 0 I 0

Jean Davis

0 E TE C Tl 0 N

ACCESS CONTROL

VI 0 E 0 SURVEILLANCE

Fl RE

Sonitrol. Because you can't afford to take chances on security. Sonitrol offers the most comprehensive electronic protection available today. With local service and monitoring, Sonitrol can customize a system to meet your security needs and maintain it with a quick priority service. Contact us at (704) 423·1111 for a FREE security survey of your facilities. Sonitrol Security Services, Inc. 815 Wood Ridge Center Drive Charlotte, NC 28217 Visit us on the web! www.Sonitrol.com

32

may 2003

Your Sin gl e Source f or Complete Secu rity

re::ne3 ~ nt up c· ~ pe.-cem d op=raticru; _ e .<t::1se ~ atd th -igl-.t ea j ership in this cr 3ea·,ct s ~ s: :: n.ial ~ay: Dc:. v;; , ";:::ocfir.itely .. r ~ o · the grea .~~- t u cl ~ :res s ta~j g 8.\Ch a 1-.ug:: px·l c · :.:!lertt rrd re:sc•urc::s , a~d :trc: 11lir:ing u.e netwc tl: ·omaJc>:1u 1 dfi.::iEnJ. Thank'UL:'. : ur IT grcu[: s are ::n :: ua .~ec tc tl·· n·< outside Ll- c: bo . «r 3 r :c.ch [.- r creative sobtio1: T1i: el.rn · n~ tes ma:rr ci the bni ::~s that p . sen Lhe-u .o::lv:'s. By renn"ir.g rigi :: i =::. \"e get th.n~ done. ' V...'a : h:r:ia use:l .he ' Jest .e•: lrology' app-ro K h , tl· :: c"osolicatior ,, - egacy First Lni · 'l anJ 'J.'a •. hcvic. F .G L::1ion carried feu jmes tJ-e :n.nbcr :>f depJ:. n soi \l,'ach ~ l c. 1-et 'T t d intqrat oo SJ t3 i.."'"Jc ~ i.ory :,.ote'::l was ret.c'Tir. ~ ::t. Cr: Ll - oLce ~ h.:.- i , Wach :·.ria L1s a bn 3 nev; l 7(•.000 squc.re f:>ot 3aL : crJ ::r that cru .d · an-

grea-:<':r :har ctt:: biz


::lle the huge volurt.e o[ tran53:ticns per da? Davis is hapry v-ith tr_e results _o-date. ·'We have: go _ten wond::rfu _hird party ~nlu tioos from corr~ par.te' ike Gomez anC. ForEster en our df-ocjveness anc impKt. And, our

nu ~11b~rs

-opeak for themse ves We are p:: sitU:ned

"We have go:te n wonderful third party e·1alt.ations from

The Winds of Change Bring Opportunity!

companies li<e Gomez and Forrester on :>ur effectiveness and imr:act . .\nd, our numt:ers speak fc•r thems=lves. We are positiored very well to achieve the hgh standards Wachovia ha:; set for itself." Jean Davis .;ery well to achic ve the high stnda --ds v\'achovia h1s set for itself." Davis's t~chndogy team is pan

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.Jf a process :::allec Prcject _cribe, ~-he:.ein ~very aspect of the Wachovia merger. ::letailing decision making and proc::,gng

.s recorded br bure :malysis and u There has bEen a -ecord amount cf cosensus fom Da\i~· arena. Her tee::- teco:l 1.as garnerec prai:-e from the hig:J.er-u: ·s ~or being focused ::m the technd: gica! ntegration, .mel a ter ·=omb~ng thoug:J60 platforms rea·=hing agreement or .1ll ::>ut one. This spec. ks \·ery highly :~J:avis' leadetship, wht::h her pee:-s say has l:een _nstnmental i1 the st..ccess of tl-e department's effo: ts By all in:hcc.ti.Jns, legacy Firs: UIL•Jn Jr.d Wachovia's :rergcr into _he new Wachovic: has beer. a merget .J[ equals on the tc:chr:ology [ron: . a _n the other :~reas :::>f the imeg;ra:io1. 'v'.-ith _he impcndiJg ad·:liticn of Prudentia· 3ecurities to the mix, Jean Davis a:td l:er .T professionals ~ll <<.ve a very sound and posit:ve pcint Jf reference 15 we I as knowledge ::>~'~"· ·rom which _o opnat ~ . biZJ

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)t-sanne Dei:zel is a Charlotte-based ·reelance wrt!er greate r chari:::JLe biz

may 2003 33


A Di\i sion of Electrolux Prde.;sional Ouo::bcr Products, Inc. David R. Zerfoss 7349 Sntesville Road Charlotre, NC 28269 e Lu 314 Number of em e 25C WWllo.hu:sqvarna.con


J'l sherri cc:.terhouse

r

-

Tre srrell of fresl"> y :::u" grass an the wr ling sourd of str1rg tTI!T' m •rs are welcoMe Slf:JnS of cprn J ard a symp'lc'ly of sot..'lds to :he: ea~s ot Husqvurra Pres1dert Oa 7erfoss. W1th a lawr and ga~de .>~od­ uct line as extens ve as the auto c..bill opt1ow on a rew luxury ca •• +-hts ( L +-door power 1t.. pr Je'lt corrpc ny ll n! 1·at1r J a ecord yea" as we as thew 3 4t.J arr 'VJr .ary Becat...:.e of Ht..sqvar'la s unoe!S~ab 1 .ngthy t 1story w uch bet) a 1n 1 -f 9 ma< muskets for the K ng cf Swede'l, Jna'ly as oc1ate ..he n m" with va. 1ot..s prodt..cts 1"&I.Jdl'\] sp,w1-v; mac!"> nes rrotorcycles ard craw saws 01. ~~ :;h ~ ~ IS IT ~ ket rna<r,

greater charlotte tiz

t.Jrned Jtorc-,cle maven h3s evolved I"Jto one of the prem:er n es ,., thE.: nu-docr power eqLJpment 1ndust y. Toda} the HLsqvarna bra 1d repre::ents prem UTI pOVJer eqUipment from ::flam saws t_ mega mowers, a1d s 'lOVJ "Tlore 3ccess,:Jie :har evf'r. St:::lp through tte doors oft1e1r 1\orth Amcr1c3n H adqua"terc; n Crarlotte and yot.. e grEEtEd w th a \a3t se ect10n of br1~;ht o ange ec-u pme1t t-hat w•l make yo ..w testvsterone: s .~rge no matte:· vo Jr gender. T IS Jnghtl~ 't s Dwrocm s;rves as the standcrd fo • mdepem::l8'" t 1--"us:Jvar ra dea :ws throughout Nr:r h ::..mertca who sell, st:!rvice and represEnt the orand >may 2003 35


media :m.:nri.cr. It's a .:lO:r;:r.-;vner's

sioc ... Lo o Tc:r cur C..lSLomc~. bert~ ch:: ces

dream- i: rrc-.>.s- wh::r: y-:·L r::L it, ca:. cr

and diffe-e• iate our sto_es rom oJr corr-

pany came in 1999 when Husq_.gyna

night ;;eE-c xl-s- to re::h<.t?~ end kEep5

petitors by c!Iering -he rno:.. innt:)\ative

acquired a commercial mower rrc.nuta::-

yo.n

ti

1

A major turning pcint for t---e com-

3Wl: =~~1-lr

~:he

:no";ed 3

tirr_e.

an impressive list of equipment its

a

Re

ly c.dvanced p-c·duc.s," s~id

i Itsd r.c b : t:1.a: on y (i::J3e

mower lineup required mere hc·::-se-

>v 1<:•

power to turn the heads of prof:ssior al

earre.i toor 1vmg using -::·::ve:r equ·I:-

landscapers. The additic n of a £:.::11 lire of

mm:: - like bsgtcrs-, lnd:.:::q::ers nd

zero-turn mowers gave their de-' ers

arbor.s::s - ·1-e::e :ami in .,.Tt-l Husq ;arn=.

something to get excited about :Ltd, c.ot.-

eq·.l.ipmem. v""i h pre dud!: -.i3: w:pite excep.i::m::l jo::t3 1 to

competitive advantage over Jthc- ma-1'1-

sen.ice tl:e _._.n;emio'1al ::.fder chc.n::te .

facturers.

had puven -cr years to

s ~t-t:J=.

1:~

;ales ani

J ·.e methxl :of

cho to:e to ;:;.: lJ nark~ - fc r:.J:•~l p::>?.·er n~r.ufacurer=. B-~t

:....ow~

choir-

man, presidcrt md CEC· &:u Tillnan. Adch.:onc.l ,isiblity ~ nd prodt.ct

<k : ~ss

hebed fuscvama crlebrae J big ~ear.

pled with their existing ?roduct ine, a

"We are a Total Source solu ic·n for

pre ducts . d-e rr.ost ;-esrectc: nmr c bro.r ds in the busit~s-s ::.nd the rnc:L techrolog..:::~l­

turer. While the company :r.anL::actu.:-ed

"L:.~t

:.<e-'t v..e sew a .:s pe:crn... sale5

inc-ease.' sa?~ Z~rfoss. " ~ cx:·d thmss lL'lpper. wren

OJU

ao.sooate3 •.et- ployc=s) ,

j~ll­

ers. COfJ=OTJt:: CDentS aoc p;;rent : c•mpJW are syn: h-:.nize:: ard excite abo.t: the future ,'· :-e a :ids.. Fue;ed h)- S·Nedish-b15t:d Ele•::rolu:-:.

our dealers and a one-st::>p shot: for n::i::-

equi-::>ft.eLl

customers," says Zerfoss. "No other C•PE

wcrl:i, wl:er ~ b gger i~ bE :-:t:r and p:::v•e-

the worl :.~ lcrge:.t produ::21 of pc<~.ered

is e~:;tlr-.~ , a:xessi:>ilit. s l:ey

appliaoc~s

manufacturer has the b::-eadth an.:l

de~xh

LO

re.ac'l

door

the home:Jv>-eL

products."

~'1 ~fbrt lJ

Next, the company ?urcha~ arother commercial company pro::ludcg tuf care equipment, including aerat=rs, s-J d cutters and power seeders.

in today:;

The~

str,.e-

a:mn.ect 'with ~he brM..:l

cons:: _cus :1_•::-:lcO\\.Tit:L l<tSt H1.:::cpan:: te:g;a.n to ;ell

~==ar

.J ~ect l~

prodr:.c:s :o -J,-·Ll. LD\'/e's md

Sear~,

u~e .

fc r kil:che:n, dear ng c.rd out-

Ht.s:::j-''3rna is fOS:: _one:: to lc;:c

the pack. BtL :l.OW ooes HL :>C.Far<. harnss thi5 kine. o.- horszpo.ver -.J tl-_e_r lr.nefi:'

.J f

znd

gic acquisitions allowed Hu5qvmr_a th.e

in :ur:t increz. :oc ret::.il d·s=i:::-uio:l o·Jt-

ability to penetrate the growing comner-

Th When

lets b 30 ::>=:r::rrt. Th.s n-J .:i-distribJ:.-

tomers the).'re ::tot talking abou . the

cial landscaper market and ~trm~then

tioc =:Gttg} l-.as had huge :?OI,r::>ff:: f.c·r the

landscaper vvLh a 20-trJCk ile::t :::·r the

their dealer base.

compr:y, ea.::~-..L'S an ood .:: ::r.;~l 6 rrLll:::>r

homeoo;v-ner ·wi.th

shc·ppe-s "·e o k~y .1t Lcv:e's 3~

LandscaJ=erS an..: co1swners a:ilc: 1re con-

"We intend to continue Jur

~row:h

' ~ tel~

organically and through acquisirbns,' says Zerfoss. While filling in the coo::-ned.al g.:~p,

says

;-~::-foss ,

-:v:'re at

(lUI j~p:r g

J=Om:,''

;.lD has !=Oc..::d dout-le

digit groWL1. ·cr :he cc npo..:-_;: -Tder h.s l ~­

Husqvarna was also mO\ing for-ad Jn

year .::a:le::s::-_1=

<S

pre.;der :

.~.n

avid cacEr

the consumer front. With a stro~ lire c·:

and b-u~nr:s~ l::xn:< en;}us~a.:::., be is well

riding mowers, tractors and wal-<-behind

kno·pn Im .i.3tJD.lt.ng :::opi~> :·f his- kest

mowers, they stepped boldly inlet the future with the introduction of<. fully

page -.J-ntlS - T1.e -=-irping ?>::.n: (by Malon G_:Jd..,E:ll) .s •:urrcrL; on his "hct

automatic mower, the Auto Mol..."::r, a tattery-powered mowing machme ::1.at pu

list".lt ::dcrs _:•lfat rr.agic o : ~nt \Ph::n an .Cle1. trc_c 11 socicl belnr.ti cras~es a

program to meet your needs. Ths hi§h

thresi::J d, tip:; acd sp: eadt U:e

tech darling ushered in the millc:miuT.., raising eye brows and gaining n:Liond

Husqvarna has introduced an unmanned mower (left) to its line of manned mowers (right). The Auto Mower is a battery-powered mowing machine that you program to meet your needs.

36

may 2003

wild~

''Husc;.:arra j<Jine:l a grc.\i:-tg nJmt·e i of tq har : s a wwe:'3 :bet :iJ~fi] our :1~is-

t~ la:~ st

.¥dge.$.

sidered n d-Jsers in thu \\.orld c.nd the bread and b•ncr for the.r customrr- -t.cit


r=oile-s.

~-iLsq\Cma

l':onh !.._"Deri:;~. b a

sJ~s.

narkning c.rd dist~ibuti.::n =·=n:.:::::a::-ty I12 r •.us _omer5- inc:ude 1pp1c•::llinatel. :; CoC•O nceJ=encbu oUl.door pc·wcr ;:c_J.Ii['r en cea er:; th=ugnc ul Nctt"l Ameri::a J:. ~el as Lowe\ ~e3.1 s, and a 'lC·~l Jf : the::orporate client.o .:;·Jc h as Ace : n_e ,'a oz. "Cur CLsto-.~r is Jl tbe cot..;:r of

?>'t:tyL1ins v.. e d J,~ ~a:.s Zerf:::ss.. talks y,ith ct:ale:S IJ[ C011=0f<i!.e

~1m

:liem~

1-r

: i~

r::rrtra is cl~r: -c :~am V"iL o:r yo.r tu3iness throug cusoirer n·muri"lg, h\-

'ulf

Jrof~ss~ona· u~c:rs,

w :1etstone has

·= un:l tre ar..swer t:

make hs life easier. shifted 75 p:rcent nf our business ·.: (-e Hasq'.arr:a 1::-and, c.ropping other 1e:> to a::co:nrroct-te the floor space -c::·:l," s~s WhetsL ne. "They make it easy "'VJE '.re

·= r -ne tc

rLn my l::"Jsines~ - they provid:: ·:::e sales and servic train.ng, and most .,F•rtanly sell ng .:md servicing one pre- ium bnnC., bcth commc.rcial and con3.t:r.cr. rrakes sock..ng pa-Lo and dealing -:..i.h war:-ar.:y i5ue; much easier," he

irg our vah.:es md cxntiruing ou- :J.eri -~ :;f .y;e- 300 ;oea~ c·f e.~ce lercc"

:=d:.h "Bc·Ltorn line -E," he ;ay>s with enthu-

]usl back fr .'111 c. cealer .llt ~ n i,·e llip _.- Ha\..;ai~ l. e e;;:cixmen on behalf d Z.erfJs~' custom::rs wa.> ao meT.Table u .h spectc.cdar g_rs~ l3. "::)ecla:ing a "A•~F­

:trJ:-ger

~fJ

fuu-e, -arlr:r thc.n ernJ=l.::->is iruerr.enta_ thinking h•o =he pas ..~7~5. ar :leal::rs the incer ti·;e tJ get rn :JC•<:.u:l : sa,s Z.erbso. As a ~-iLsqv _ ma ckaler f,x 19 ye=, Dwc.yne \Vhetstrn of Dwayne·; ;.1)wc

=:ale.; i1 V/insto :- -~1len !-:as sen c. b 1 ~·f :hanges ever tho: yea~. V/itr <1 ::u:;tor;;:r bse of app10xim:Le y ha f co:18.In.:r £ nc.

935-n, "TI1ey're strc1g and it makes us

r \.\hat':: toc r~lying :ry that gets r- eir clea ers exdtec/ Power "We have a .)o

·.cry }JJ\.\erfu b-and, in tetns of our prod·- ==~

J.nd the ~11uscl ::: lO back it up at evety ".:"Vel" sa-Js 3arb3ra ?aez, \ice-president of ::-:- arl.e=ins ar_d rati: nal ac:cunts at ·-luo:qvarna. ·corsisr::nt. poNerful messaging is at r- e fJrefronl ::~f everything V"e do - from ~ -s:·Jre oer.:handi.3ng to national televi-

sion advertising." When you ask Husqvarna who their main competitor is, you get the question, "In what product segment?" Given their extensive product line, their competitors range from other chain saw manufacturers to lawn mower giants like john Deere, as well as commercial equipment manufacturers and accessory suppliers. Husqvarna enjoys their greatest market share in the professional chain saw segment, yet their taking ground each day in the commercial landscaper segment with the addition of more and more products like professional grade trimmers, hedge trimmers, pole saws and a complete new line of tractors and walk behind consumer mowers. ln the companys newly produced television commercial, the power of a Husqvarna backpack blower is exaggerated when it forces a tornado to retreat from its high velocity air flow. ln another spot, also developed by Charlotte-based Clear Blue, a pack of Harley riders part the crowd to make way for a Husqvarna zero-tum mower out of r~pect for - its powerful pr~­ ence. These tongue-in-cheek messag~ >

Asset management, maintenance, general hoopjumping. Expect more fi'om OffiCE Environments than a great selection of desks and chairs. We offer oountless services, from design and finandng to installation, asset management and maintenanCE. Go ahead. Raise the hoop.

704.714.7200 WWN.office.environments.com

§ OfficeEnvironments AUTHORIZED STEELCASE DEAlER

gr-=ater cha-lot-:e biz

may 2003 37


echo how Husqvama customers feel about their tough equipment.

Qua1ityT lntegrity. Understanding. H illiard Lyons, founded in 1854, has guided more than five generations of investors through some of the most dynamic changes in history. Our longevity is a solid indicator of the quality of our service. Through integ rity and understanding, the individuals who comprise Hilliard Lyons are committed to serving and advising each client in achieving his or her fmancia l goals.

5925 Carnegie Blvd., Suite 101 Charlotte, NC 28209 704.556.9000 800.444.1337 Not FDIC insured. No bank guarantee. May lose value.

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LYONS

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38

may 2003

www.exerv1o.com

704-759-0964

In addition to national marketing and advertising support, Husqvama lends a hand on the local level as well. Supporting grass-roots public relations, such as spring open houses and charity-tied events to instore merchandising and collateral material. "In 2002 we exceeded our expectations and the expectations of our customers," says Paez. "We've done something different and parmered with four different agencies that work together as a team to produce consistent messages throughout all of our product segments at an affordable cost. Each year we lower costs yet produce greater sales results," says Paez.

Today, power is not the only competitive advantage among power equipment manufacturers. The Environmental Protection Agency has forced compliance on all engine manufacturers to meet new emissions standards that will result in a lower level of air polluting emissions from small gasoline engines. As a result, according to the Outdoor Power Equipment Institute, gas-powered engines run 70 percent cleaner than in 1990. However, long before stringent EPA mandates, Husqvama launched a unique engine concept called E-TECH, which reduced emissions without sacrificing power. Then, in july, 2002 , they announced the next phase, E-Tech II , which further reduces emissions below new mandated levels without sacrificing performance or ergonomic benefits. "As a company with a 314-year heritage, our environmental policy has always been the guiding factor in the design and development of our products," says Zerfoss. "Husqvama has been consistently on the cutting edge of technology introducing products with no or minimal environmental impact and we are committed to continuing this course of action. "

Employing approximately 250 associates, each and every one is introduced to the company doctrine from the pulpit of the president himself. "When I conduct our welcome and

greater charlotte biz


orientation, it's not just about what a great company we are to work for; I talk about how we match up with our vision and values and how we're going to grow together as people," says Zerfoss. "I believe in the value of people," adds Zerfoss. "If they see the vision - the value comes out." The company vi.sion7 "To be the #l selling brand in the commercial and premium consumer OPE market in every product category." How do they achieve that vision? Zerfoss encourages all employees to be future thinkers- to think back from the future rather than rather than thinking from the past. He proudly notes that employees have been through "Breakthrough Thinking" training, which makes them think , speak and act the future. Employees are all encourages to make bold declarations about the future and create breakthroughs in all areas whether it is the in the warehouse, accounting department or customer sales and service. Coupled with breakthrough thinking, it's the values, which spell EAGLES, that make them soar. Exceed expectations; Attitude of serving others; Growth, professional and personal; Learning for a successful future; Environmental responsibility; and Speed, responding quickly and effectively. "At the end of the day, the whole thing is about relationships and conversations one at a time," says Zerfoss. "Eve ry conversation supports growth." lllustrated in "The Tipping Point," that's how epidemics start and hot brands catch on like wildfire. It often happens one conversation at a time - the basic context in which all persuasion takes place. And these days , there's a lot of talk about Hu qvarna. "We plan to be a multi-billion dollar company for the Electrolux organization ," Zerfoss maintains with convi. tion. With a tremendous track record behind him , this bold declaration for Husqvarna ~vi.ll likely become a reality in the very near future. biz

Sherris Oosterhouse is a Cornelius-based freelance writer.

greater charlotte biz

Blair, Bohle & 'J\/hitsitt PLLc C ertified ==wlic Aco:r--tntan:5 • • • •

Audit & ~:oo r t' 1g ~erv ices R..'ii'tm<-lt Par Compliance & Design Rm E=:;te :"3ve Jpment St rale~ i es t\.lerger and ,:.c~u isi tion Planr ilJ

• TE.x Compli:L1C3 & ::>lanninJ • Co11prahers.i·1eTa: Revie'l! • ~1 li-Siate Ta>Str cturin~ • C001pany FcrTJatioo Strategies

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Water ord Center Conveniently Located At 1-77 and Clanton Rd • • • •

Contact Bob Smith, CCIM

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704-527-7777 1 Phone 704-521-0772 Fax may 2003

~:1


Ballantyne Resort and The Park Hotel Earn Top Honors

McColl Partners Ooses Deals

Ballantyne Resort and The Park Hotel in

is a rating given to fewer than 200 hote ls,

McColl Partners has recertly completed

Charlotte have earned the highest possible

resorts, an d inns in North America and the

two t ransactions. The co iTI:lany advised

rating in two new lodging guides. Conde Nast

Carib bean. The guide notes that each proper-

lnterpath

Johansens gave both a "recommended" rating

ty "is selected for its individual charm, char-

company of Bain Capital, en the sale of its

in its annual "Guide to North American

acter and superior standards."

digital subscriber line bus ress to ClearPatr

Hotels, Inns and Resorts," while Resorts &

Resorts & Great Hotels' "Connoisseur's

C omm u nication~.

Inc., a portfolio

Networks and its frame relay business to

Great Hotels magazine has named each a

Choice" is given in recognition of "exception-

US LEC.These two divesti: ures maximized

"Connoisseur's Choice" selection for 2003 .

al quality, service, and the overall guest expe-

the value of lnterpath's assets while still

Ballantyne Resort and The Park Hotel,

rience ." The guide depicts Ballantyne Resort

meeting the acquirors' nee:::ls and va luation

both of which are Bisse ll Hotels, were evalu-

as "distinguished by Old World quality and

thresholds.

ated during a series of inspections last year

outsta nding go lf in the rol li ng hil ls of a 2,000-

by Conde Nast johansens, an affiliate of Conde

acre master planned community," while The

services provider ("ASP") fJu 1ded in 1998 and based in Research Tria11gle Park, N.C. lr

lnterpath is a ful l-servi:::e applicatior

Nast Traveler magazine. Ballantyne Resort and

Park Hotel is described as "the centerpiece

The Park Hotel were the on ly destinations in

of Charlotte's posh SouthPark neighbor-

May 2002, lnterpath merge:! with USi, Inc.,

Charlotte to earn "recommended" status. It

hood."

of Annapolis, Md., to create one of the largest enterprise ASPs in rlle United States

New Study Reveals State of Business Risk Preparedness

with more than I 30 custcners.

More t han o ne-third of the nation's leading

• Eighty percent of companies report no

companies re po r t they are not sufficiently

significant sh ift in their risk management

holder grou p led by cu rrert: CEO Pell

pre pared to protect top revenue sources and

ou tlook post-Se ptem ber I I t h -

Tanner to acquire contro l ofTanner

have roo m for improveme nt, according to

st rategically or operationally.

either

McColl Partners also ;;odvised a share-

Companies. McColl Partners bro kered the

the 2003 Protecting Value Stu dy. In addition,

• Improper management and employee prac-

return of management conrrol of the fan ily-

o ne hundred percent of the companies sur-

tices re present the leading hazard affecting

owned business to t he Tanrer family by rais -

veyed re port a major disru ption to a top

top revenue sources.

ing the debt capital used to purchase equity

revenue source woul d have a negative impact

• Pro perty-related hazards, such as fire and

interest not owned by the -anner family.

on earnings, with 28 percent stating such an

natural disaster, collectively continue to pose

event woul d threaten business continuity.

the greatest threat to revenue sources.

seller of high-end women's a p:>arel in the

• Eighty-eight percent of financial executives

United States. Tan ner's two branded lines,

The study, cond ucted by commercial and

Tanner Companies is ne leading direct

industrial property insurer FM Global, the

and 83 percent of risk managers say their

Doncaster and Elana, target sophisticated

Financial Executives Researc h Fou ndation and

com pan ies' level of pre paration to recover

'lnd affl ue nt women thro ugll more than

the National Associat ion of Corporate

from a major disruption to a top revenue

2,000 wardrobe consultants and agency

Treasurers (NACT), polled nearly 400 CFO s,

source is less than "excellent."

eaders nationwide.

treasurers and risk managers at both U.S.

• Current business continuity plans may not

McColl Partners is a C 1arlotte-based

and international com panies from a broad

be sufficiently aligned with top revenue

ndependent investment barking firm spe-

variety of industries. Among the other find-

sources at many leading corporations.

•:ial izing in the needs of maragement c.nd

ings of the second annual study:

owners of midd le market compan es.

State Honors CPCC's Small Business Center as Best in State Small Business Centers, located at each of

58 Small Business Centers have served

I000, an inbound call cente r business.

North Carolina's 58 community colleges,

more than 71 ,600 individuals, hosted 4,530

The SBC provided services t hat helped

provide tremendous services that promote

business events, provided counseling and

SLite I 000 owners develop a stra: egic

economic development in North Carolina.

information to more than 22,000 individuals,

p l~ n

The Small Business Center (SBC) at Central

and provided more than I I ,000 hours of

ard help set the direction fc·r the future

Piedmont Community College was recently

counseling.

The SBC served on the corr mittee that

honored as the recipient of the statewide

Maggi Braun , SBC director at Central

that improved their present situc.tion

w;as instrumental in the successful relocaR ~ source

Small Business Center Network Award for

Piedmont, accepted the Award for

t ion of the Small Business

Excellence.

Excellence. The center was selected for

Center from its College Street location

its overall exceptional work and specifically

to the Main Library.

According to Small Business Center Network state director Gayle Harvey, the

40

may 2003

because of the assistance given to Suite

greater curlotte biz


Half of U.S . Companies Did

ot Make Revenue Targets for 2002

More American business professionals are

lower expectations for this year and 37

pessimistic about the U.S. economy today

percent are trying to maintain the same

than they were last year. As a result, more

projections as last year, while 36 percent

companies anticipate more hiring freezes

anticipate a higher rate of performance.

(36%) and job eliminations (34%) than in

Most executives are making changes

2002, according to American Management

within their organizations to address the cur-

Association's 2003 Current Economic

rent economic climate, including reviewing

Conditions Survey. And, more than 60 percent

budget forecasts (68%) and business plans

of respondents believe that the war in Iraq

(62%), reorganizing positions or responsibili-

will have at least a moderate impact on their

ties (58%), scaling back travel expenditures

business.

(46%) and scaling back planned expansions

AMA surveyed 370 executive members and corporate customers in February and

of business units or activities (26%). Many companies also anticipate changes

March 2003. Fifty percent of respondents

that directly affect staffing, including hiring

reported that their organizations did not

freezes (36%) and job eliminations (34%),

make 2002 revenue targets.That is down

hiring cutbacks (31 %) and scaling back training

from 58 percent in 200 I.Twenty-nine percent

and development expenditures (26%).

met their targets last year, up from 23 percent

However, few companies will shorten work

from the previous year; and 21 percent

weeks or work hours per day (I I%)

exceeded projections, up from 19 percent in

or implement pay cuts (6%).

200 I. Nearly half (49%) of respondents think

ALTMAN 1n1t1at1ve group , 1nc

In the short term, nine percent of respondents expect great impact on their

the economy is declining, up from 38 percent

business from the war with Iraq and 53 per-

who saw a decline one year ago.That pes-

cent think there will be moderate impact. In

simism carries over to expectations for their

the long term, more than half of respondents

company's performance in 2003 . Of those

foresee a moderate (SO%) or great (6%)

responding, 27 percent of companies have

impact.

Denise Altman, MBA 704-708-6700 www .altmaninitiative.com

bi z

Wake MBA Ranks in U.S . News & World Report Survey Wake Forest University's Babcock Graduate

percent were employed three months after

School of Management advanced nine posi-

graduation.

tions to earn a standing in the top I0 percent

'This recognition for our evening pro-

of U.S. News & World Report's ranking of best

gram is particularly significant," says Leslye

MBA schools. Among the nation's 365 accred-

Gervasi, director of the Charlotte program,

ited master's programs,Wake MBA ranks 37th, up from 46th last year. Also, the Babcock School's part-time MBA program ranked 17th in the nation, in

Ameritrust Mortgage Company, LLC

pg. 32 pg. 39 pg. 13

als can obtain a world-class MBA without

Compass Career Managemnet Solutions

pg. 33

Corp Data Prod ucts

pg. 27

Diamond Springs Dun hill Hotel

pg. 43 pg. 31

interrupting their career." The Babcock school has offered a part-

grams in Charlotte and Winston-Salem, is

versity's Winston-Salem facility also teach at

the only nationally ranked part-time MBA

the Charlotte campus in the city's SouthPark

program in the Carolinas.

area. Including a new Saturday MBA progranr , with classes to begin in January 2004, the Babcock School offers five MBA programs. The Babcock School appears consis-

success and student selectivity. The specialty

tently among the top schools in national

ranking is based solely on ratings by educa-

and international ran kings. Wake Forest's

tors at peer schools.

MBA program is highly ranked in surveys by Business Week, the Financial Times of

73 percent of Wake MBA graduates were

London, Forbes, U.S. News & World Report

employed atgraduation and nearly 88

and The Wall Street journal.

greater charlotte biz

pg. 10 pg. 41

BC

1995. The same faculty that teach at the uni-

According to the survey, more than

Accupointe Professional Accounting Systems Altman Initiative

CM Black Construction

Babcock School, which has part-time pro-

deans and MBA program directors, placemert

guide

Take advantage af these products and services from Charlotte's leading business-to-business suppliers.

"Because it confirms that working professior-

time evening program in Charlotte since

on quality assessments by business school

u

Blair, Bohle & Whitsitt PLLC Carolina Volkswagen

a specialty subcategory of the survey. The

The recently released rankings are based

5

Exervio

pg. 38

First Citizens Grant Th ornton

pg. 5

Hilliard Lyons

pg. 38

Koger Realty Services. Inc.

pg. pg. pg. pg.

logisource Mid Carolina Cardiology Offi ce Environments

Regent Park Golf Course R. l . Bryan Company Road Runner Business Class

Ro binson Bradshaw & Hinson Sedona Staffing Services Soni trol Security The Coffeeboss

UNC Healthcare Vance Flouhouse & Garges, PLLC

Wachovia Wake Forest University White head Associa tes

pg. 12 39 21 3 37

IBC pg. 42 pg.1 pg. 25 pg. 26 pg. 32 pg.13 IF( pg. 17 pg. 7 pg. 11 pg. 26

may 2003 41


Charlotte Selected

to

Pilot ].A.'s Business Ethics Curriculum

Charlotte has been selected to pilot the

Junior Achievement's Education Team

Food Lion Honored by U.S. EPA The U.S. Environmental Protection .Agency

Junior Achievement "Excelle nce Through

is develop ng the ethics curriculum. Testing

has named Food Lion an "ENERGY STAR

Ethics" business ethics cu rriculum this

the lessons before they become final is

Partner of the Year" for its "outstanding"

spring, in advance of a national curriculum

critical to ensuring their effectiveness. " It's

reductions in energy consumption through

rollout in the fall of 2003. The program,

very imponant to try new exercises in the

energy management leader; hip. Food

underwritten by Deloitte E:: Touche LLP, is an

classroom environment to teach our stu-

Lion's accomplishments were recogr ized

example of the firm 's comnitment to

dents how to become successful business

at an awards ceremony in '.Yashingtcn, D.C.

restore confidence in the capital market sys-

leaders in the future ," points out Philip

tem. Students and busines- volunteers in

Volponi, p esident of Junior Achievement

Charlotte will have the uni:jue opportunity

in the Carolinas. "W ith a curriculum this

Food Lion has earned the :Jesignation.

to influence the ultimate content of the cur-

important we want to be sure it has the

Food Lion is the only supef'market compa-

t~ e

riculum by testing it and providing feedback

input of

for incorporation into the t ina! product.

the professional teaching staff."

Volunteer teachers for the pilot will come from Deloitte &Tou.:he, which com-

students, the volunteers and

Charkme is one of just 20 cities across the country that will pilot the program. The

This is the second-cor secutive rear

ny to receive the honor, as it was in 2002. Food Lion, a partner in the proEram since 1998, is being honored for adopting and app lying energy managzment practices

mitted $1 million to Junior Achievement to

pilot in Charlotte will take place in area

and technology throughou t its store oper-

develop the " Excellence Ttrough Ethics"

schools utilizing Junior Achievement pro-

ations. In 2002, Food Lion greatly reduced

program. "Deloitte & Touche is proud of our

grams and will include new lessons focusing

its energy consumption by upgradint; and

dedication to Jun ior Achie'>â&#x201A;Źment programs

specificall}' on decision-making, business

refining its stores' lighting, 1eating ard

in Charlotte," says Michael Baker, managing

ethics vs. personal ethics, and facing difficult

refrigeration systems. Even though the

partner of the firm 's Carol na's practice.

decisions with honor, among others. When

supermarket chain added rew

"The people of our firm are very enthusias-

the final curriculum comes out in the fall , the

increased its square footagl: by approxi-

store~

and

tic about getting into the cassroom to help

lessons will be woven into all 13 of the

mately 2.2 percent, Food Uon's tota

teach students about doinE business the

Junior Achievement programs that reach stu-

energy consumption dro pFed by mere

right way."

dents in grades 4 thro [Jgh 12.

than 415 billion Btu .

42

ma y 2003

greater c1arlotte b i z


The Mayor's International Community Awards (MICA) has announced the corporate finalists for this year. Nine companies were chosen for their corporate philanthropy and volunteerism from nominations received within the 16county Charlotte USA region.Three winners will be announced at the May 7, 2003 MICA luncheon - one each in the small, medium and large company categories. The finalist companies from small to large are: Chicago Pneumatic Tool Company (Sweden), Stork Screens America, Inc. (The Netherlands), NIBROL (Sweden) , Coats North America (United Kingdom) , Transamerica Reinsurance (The Netherlands), Vermont American (Germany), STABILUS, Inc., Royal &

SunAIIiance USA, Clariant (Switzerland).

Fred C. Caruso has been named to the newly created position of president of Hi leo Appraisal Services, LLC , the largest business asset appraisal firm in the United States. Caruso currently serves as president of Hilco Industrial , LLC , and will continue in that role. Sara V. Traberman has been appointed vice president, business development, of Hilco Appraisal Services, LLC.

Traberman brings more than 20 years of financial industry experience with major financial institutions such as JP Morgan Chase, Citicorp,Transamerica and PNC Business Credit. Visit Charlotte , Charlotte's convention and visitors bureau , has successfully relocated its center city office to 500 S. College Street on The Green. The move should increase Visit Charlotte's visibility, save money and allow Charlotte to more effectively compete with other cities' convention and meeting prospects. Phone numbers and staff extensions remain the same.

Sterret Dymond Stewart Advertising has been recognized as a finalist at the 2002 Global Awards and the 2003 Telly Awards for two recent television campaigns.The Global Awards is the only healthcare communications competition dedicated to the recognition of excellence on an international level; the Telly Awards give recognition to outstanding non-network and cable television commericals. Crescent Communities has received three STARS awards from the N.C. Home Builders Association for : best color ad over a full page for any priced community ("Investing in

Memories" campaign), best brochure/direct mail - (VVoodland Bay), best brochure for a community with an average sales price of more than $500,000 - (VVoodland Bay). Dana Drago from Bank of America and Chris William from Wachovia are co-chairing the 2003 Charlotte Metro American Heart Walk this year. Tom Skaines, president and CEO of Piedmont Natural Gas, is serving as vicechair for the September 13, 2003 event at Queens University of Charlotte. The Advertising Club of Charlotte recently awarded Luquire George Andrews three awards in its annual American Advertising Awards competition. Known asADDYs, the awards are an illustrious acknowledgment of design excellence, creativity, and fresh ways of solving marketing challenges.The awardwinning entries were in the business-tobusiness, marketing/ specialty advertising and still photography categories. Software industry veteran jeffery Beane has joined Info Vision, Inc. as director of business development. Beane joins lnfoVision from ManagedOps, lnc. where he most recently served as director of product marketing of Managed Operations, an application service

0NEFORTHE OFFICE

ONE FOR

HOME

ONE FOR THE

RoAD

greater charlotte biz

may 2003 43


[ontop]

provider of Microsoft Business Solutions. CompuData, Inc. is pleased to announce the 15th anniversary of software engineer Ernie Hornickle. CompuData, Inc . has been providing new information technology and integrated business solutions for 32 years. Ben Rojahn will be joining CB Richard Ellis, Charlotte. Rojahn has been in commercial real estate since 1999 and will focus on representing tenants, with a specific focus on industrial real estate users. CB Richard Ellis, Charlotte has appointed Donnie Robinson as vice president and director of property management. Robinson has been in Charlotte since 1990, and held a variety of positions with different firms , most recently with the Keith Corporation. Phillip Atchison has joined Luquire George Andrews as multimedia director. Atchison will help existing and new clients develop and refine their new media branding strategy. Robyn Crigger, CEO of Compass Career Management solutions, has been elected by the National Association of Women Business Owners (NAWBO) vice president of corporate economic development. In her new position, Crigger will help businesses build strong relationships with NAWBO as Corporate Partners. Randy Kurr of Compass Career Management Solutions has been appointed to the Mecklenburg County Park and Recreation Department Northeast Park District Advisory Council. Halls Horticulture Design, Inc. has been selected as The Distinction Award Winner for Residential Design Build Landscape Work in North Carolina by The North Carolina Landscape Association for the Warren residence located in Myers Park. Saussy Burbank, an Arvida company, has announced the appointment of Fran Hillhouse to the position of

44

may 2003

marketing and sales administrator. In this capacity, she will assist Rosalyn Howell , Saussy Burbank's ma rketing manager, and Chris Drury,Arvida's vice president of sales, in the fulfillment of their ongoing responsibilities. Peter J. Sidebottom has been honored with The University of North Carolina at Charlotte's 2003 Distinguished Service Award . The Distinguished Service Award is presented annually to citizens whose exemplary service has helped advance UNC Charlotte in its mission to serve the state and metropolitan region and whose personal leadership has improved the Charlotte community.A managing partner of McKinsey and Company's North Carolina office , Sidebottom participated in an early study to gauge the feasibility and benefit of transforming UNC Charlotte into a research un iversity. Sidebottom 's support proved vital to the creation of the Charlotte Research Institute, a UNC Charlotte initiative melding industry, academia and government resources to burgeon the regional and state economy, while raising the university's national and international reputation . Mike Whitehead of Whitehead Associates Inc . was invited to speak at the South Carolina Association of Realtors as a part of their new leadership program. Whitehead Associates Inc. is a consulting firm that specializes in culture and leadership development. First Charter Bank has announced the election of the following officers for 2003 : Laura N. Blalock, executive vice president, human Resources; Bob Doby, Jr., executive vice president, balance sheet management; Jan H. Hollar, executive vice president, finance; Richard A. Manley, executive vice president, community bank division;J. KevinToomb, executive vice president, marketing; Patricia M. Vogel, executive vice president, risk management; Thomas A.

Bennett, Jr., senior vice president, commercial services department; Anne C. Forrest, vice president, assistant to the CEO and corporate secretary; Angel Anderson, assistant vice president, financial center manager (Cannon Village); Kathleen M. Erickson, assistant vice president, mortgage processing supervisor; and Stephanie M. Wetzel, banking officer, assistant financial center manager (Davidson). First Charter has announced the appointment of Rob Ellenburg to the position of Business Relationship Officer for the Commercial Lending Department in the Mooresville Financial Center. John Allen has been hired as director of corporate and personal asset management. Allison Jones has recently joined the Charlotte office of ACSYS, Inc., a national staffing and personnel placement firm for accounting, finance and information technology, as a recruiting consultant in the Accounting & Finance group of Acsys, Inc. in Charlotte. Jeff Kornegay, recruiting manager in the Accounting and Finance division at the Charlotte office of ACSYS, has been honored as the #I Recruiter in the Nation for Acsys for the month of February 2003. Earlier this year he was also honored as the # I Recru ite r nationwide for 2002. Jeffrey Passe, professor in the Department of Read ing and Elementary Education at The University of North Carolina at Charlotte , has been honored with the College of Education's Faculty Award for Sustained Service to Public Schools. Established in 1998, the award recognizes UNC Charlotte faculty who fulfill the university's commitment to provide exemplary service to public schools. The award is presented in alternate years to a membe r of the College of Education and a member of the faculty outside the College of Education . iz

greater charlotte biz


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Greater Charlotte Biz 2003.05  

Greater Charlotte Biz