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moNEY TALKS

a CandId ConVeRsaTIon WITH loCal banKeRs { PAGE 19 }

TAKINg A SHoT

an R&d sTaRTuP TaRGeTs THe maRKeT WITH nanoTeCHnoloGY { PAGE 27 }

TIm WoLFE CALLED To LEAD { PAGE 30 }


CONtENtS

Inside Columbia’s CEO • www.ColumbiaCeo.com • Volume 3, Issue 3

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sPeCiaL ProMotionaL seCtion

meeTing pLanners guiDe

going green PaGe 52

everyThing They neeD To knoW PaGe 54

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Opening Bell: The Buzz On CoMo Biz

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regional roundup

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City stats: How Columbia Compares

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CEO roundtable: Money Talks

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Taking A shot: Biotech Entrepreneurs Target The Medical Aesthetics Market

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Tim wolfe: Answering The Call

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Local Apps Make Your smartphone smarter

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get set To Jet set: Business Trip Luggage

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networking

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publisher’s note

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Closing Quotes sprIng 2012 I InsIde ColumbIa’s CEO

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INSIdE COLumBIa’S CEO Staff publisher Fred Parry fred@insidecolumbia.net

MEET OUr EDITOrIAL ADVIsOrY BOArD

associate publisher Melody Parry melody@insidecolumbia.net Managing editor Sandy Selby sandy@insidecolumbia.net Copy editor kathy Casteel kathy@insidecolumbia.net editorial assistant Haley Adams haley@insidecolumbia.net

randY Coil President, Coil Construction

ToM aTKinS Chairman and CeO, Atkins Companies

garY dreWing President, Joe Machens Dealerships

bob gerding Partner, Gerding, korte & Chitwood CPAs

photo editor L.G. Patterson design Consultant katie S. Brooks Creative director Carolyn Preul design@insidecolumbia.net graphic designer Casey Loring casey@insidecolumbia.net

dianne lYnCh President, Stephens College

paul land Principal/Owner Plaza Commercial Realty

george pFenenger President & CeO, Socket

bob pugh CeO, MBS Textbook exchange

graphic designer Aaron Channon aaron@insidecolumbia.net director of Marketing & business development Bill Bales bill@insidecolumbia.net director of Sales Linda Cleveland linda@insidecolumbia.net

MiKe STaloCh vice President of Operations, State Farm Insurance

greg STeinhoFF President of Strategic Operations, veterans United Home Loans

JerrY TaYlor President, MFA Oil Co.

TiM WolFe President, University of Missouri System

Inside Columbia’s CEO magazine 47 e. Broadway • Columbia, MO 65203 • Office: 573-442-1430 • Web: www.ColumbiaCeO.com Inside Columbia’s CEO is published quarterly by OutFront Communications LLC, 47 e. Broadway, Columbia, Mo. 65203, 573-442-1430. Copyright OutFront Communications, 2012. All rights reserved. Reproduction or use of any editorial or graphic content without the express written permission of the publisher is prohibited. Postage paid at Columbia, Mo. The annual subscription rate is $19.95 for four issues. I

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Marketing representative kyle Gross kyle@insidecolumbia.net Marketing representative kara kinkeade kara@insidecolumbia.net

Please Recycle This Magazine.

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Marketing representative ken Brodersen ken@insidecolumbia.net

Special projects Coordinator Tiffany Schlarman tiffany@insidecolumbia.net office Manager June Seboldt june@insidecolumbia.net distribution Manager John Lapsley Contributing Writer Whitney Dreier Contributing photographer Daniel Brenner


OPENING BELL

the buzz on como biz

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miz-cou

Columbia-To-Atlanta Air Service Begins June 7 by WHITNEY DREIER photo by DANIEL BRENNER

Roundtrip ticket prices start at $354.

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lying from Columbia Regional Airport to Hartsfield-Jackson Atlanta International Airport currently takes 3 hours, 14 minutes and includes a 37-minute layover in Memphis — if you’re lucky enough to be on a “fast” flight. Usually, the journey takes much longer, which makes for a solid day of travel by the time you factor in getting to the airport, checking in, and going through security. You might just as well make the 11½-hour drive by car. No more. On March 2, Columbia Mayor Bob McDavid announced Delta Air Lines will offer a midday nonstop flight from Columbia to Atlanta starting June 7. The 1-hour-50minute flight on a 50-passenger jet will depart Columbia at 10:10 a.m. Central time and arrive in Atlanta at 1 p.m. Eastern time; the return flight will depart Atlanta at 3:25 p.m. Eastern time for a scheduled arrival in Columbia at 4:15 p.m. Central time. Seats are now available for booking; roundtrip ticket prices start at $354. The announcement is the first of many to come, says McDavid, noting that the city’s goal is to serve 40 percent of the mid-Missouri market by 2020. City Manager Mike Matthes explains that Columbia is on target to spend $40 million over the next seven years to improve the airport in an effort to corral many of the 900 area residents who drive to St. Louis or Kansas City international airports. Atlanta is the busiest passenger airport on the planet and serves 151 U.S. destinations and more than 80 international destinations in 52 countries, according to the airport’s website. Construction of a new international terminal will be complete this spring. “With service to Delta’s international gate in Atlanta, our customers in Columbia and throughout mid-Missouri will enjoy convenient, one-stop service to cities in more than 60 countries,” says Joe Esposito, Delta’s managing director of domestic network planning. “The new flight complements our existing service to Memphis, giving our customers even more options as they plan their travel.” The direct flight to Atlanta will replace the Columbia Regional Airport’s midday flight that currently goes to Memphis. The airport’s two other scheduled flights, in early morning and evening, will continue to go to Memphis. State Rep. Mary Still was quick to voice her approval of the airport’s new flight plan. “I’d always heard you have to go through Atlanta to get to heaven, so we’re all in better shape.”


OPENING BELL

the buzz on como biz

Certified Site Program Gives Missouri An Edge

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Paint The Town Gold When the economy sagged, interest in gold soared and has remained strong. Several online tools, including PricedInGold.com and CoinMill.com let people convert dollars to gold and vice versa. Just for fun, we ran some numbers. n If you paid for your next Shakespeare’s Masterpiece pizza with gold, you’d need to bring along .02 ounces (not including tip). n Planning to send your child to the University of Missouri for a four-year degree? That’s a mere 13.16 ounces. n Let’s say you’re a big-league slugger

named Albert Pujols. Your shiny new contract is worth 140,168.1 ounces of gold. n Want the best seats available at the NCAA basketball championship game? You’ll shell out 2.63 ounces. n What if you were a university that wanted to pick up and move to the Southeastern Conference? You should expect to pay 7,242.02 ounces of gold for your “Get Out Of The Big 12” pass. 12

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If, on the other hand, you had the Midas touch and could magically turn everything into gold, here’s what you could get in cash for your trade. n That same Masterpiece Pizza, if made of solid gold, would net you $137,015.46. n A spiffy new Mercedes SL550 would weigh in at $115,997,289.84. n Got the No. 1 football recruit? Golden boy Dorial Green-Beckham would be worth $6,028,680.31. n A considerably more petite Golden Girl would be worth $2,740,309.23, if she were actually golden. n A dollar bill would be worth $54.81 if it were made of gold, but so would a $100 bill, so be careful there, Midas.

usinesses starting up or relocating to Missouri have a new tool when it comes to choosing a site. The Missouri Department of Economic Development recently announced the Missouri Certified Sites Program, intended to provide prospective businesses with information about industrial and commercial development sites. The program establishes consistent standards regarding the availability and potential of development sites, giving prospective businesses peace of mind that their chosen site will provide the best possible climate for their operations. Local governments and economic development organizations are eligible to submit applications for site certification. To be certified, sites must include at least 10 acres of land and have established utility infrastructure. Applications must contain comprehensive information about property ownership, environment and culture, transportation access and the surrounding community. All applications are reviewed by a team of economic developers. According to the Missouri Department of Economic Development, certification reduces the risks associated with site development by providing up-front information and consistent quality standards. The Missouri Certified Sites Program has already certified 11 sites around Missouri, including industrial parks in Union, Fulton, Moberly, Columbia, Kansas City and Springfield. Program sponsors include Ameren, Kansas City Power & Light, Empire Electric, Missouri’s Electric Cooperatives, Missouri Economic Development Council, Missouri Department of Economic Development and Missouri Department of Natural Resources.


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OPENING BELL

regional roundup

mId-mISSOurI EmPLOyErS rECOGNIzEd fOr hIrING vEtEraNS

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he Missouri Show-Me Heroes Program honored 10 midMissouri employers for fulfilling their pledges to hire veterans into their organizations. The companies represented a variety of services, including construction, manufacturing, finance, health care and human services. The ceremony took place during the Feb. 14 meeting of the Columbia Missouri Employer Committee hosted at the Boone Electric Cooperative Community Room. Companies based in Columbia, Fulton and Mexico were recognized. Missouri Career Center–Columbia Supervisor Bryan Barnes presided over the ceremony, along with Workforce Development Specialist Lori Miller-Acton, local MEC coordinator. Gov. Jay Nixon launched the ShowMe Heroes initiative two years ago to help Missouri’s veterans and members of the National Guard & Reserve re-enter civilian life with meaningful careers. The program also publicly recognizes Missouri employers who aid that effort. The program is a cooperative effort of the Missouri Division of Workforce Development and the Missouri National Guard. In announcing the program, Nixon challenged “every employer in this state, every technical school, every community college, every university … every city and county, every state department with a job opening to sign this pledge and show that ‘Missouri hires its veterans!’ ”

Missouri’s employers have responded; to date, nearly 1,800 organizations have signed a pledge to hire veterans, and more than 1,300 veterans have gained employment in fulfillment of those pledges. Participating employers who hire veterans are eligible for the Flag of Freedom award, each of which is unique to the recipient, Gov. Jay emblazoned with a Nixon subdued American flag launched uniform patch actually the Showworn in a combat Me Heroes theater by an individual initiative soldier or aviator in 2010. currently serving in the Missouri National Guard and Reserve. The back of the plaque includes information about the individual or duty. The 10 companies honored on Feb. 14 received commendations from the mayors of their host communities. Columbia Mayor Bob McDavid, Mexico Mayor Ronald W. Loesch and Fulton Mayor LeRoy D. Benton were on hand to present proclamations and congratulate the employers. Organizations presented with the Flag of Freedom were: ★ First Student, Columbia. The transportation company provides school bus services and specialized charters. ★ Harry S. Truman Memorial Veterans Hospital, Columbia. The

Truman VA offers a full range of inpatient and outpatient services. ★ Kelly Services, Columbia. A workforce-management services provider, Kelly arranges temporary, temp-to-hire and direct-hire employment. ★ MBS Textbook Exchange, Columbia. MBS specializes in textbook distribution and point-of-service systems. ★ Mid America Brick, Mexico. Mid America is the only brick manufacturer in central Missouri, specializing in a variety of colors and textures. ★ Midway Electric, Columbia. Midway is an electrical contracting company providing service, repairs and installations for commercial, industrial and residential customers. ★ OCCI, Fulton. OCCI specializes in marine and heavy construction, including lock and dam rehabilitation, and bridge construction. ★ Reality House Programs, Columbia. Reality House manages detentionalternative facilities and housing for transitional clients. ★ University of Missouri Health Care, Columbia. The comprehensive health care network maintains seven hospitals and numerous physician-staffed clinics. ★ Veterans United Home Loans, Columbia. The mortgage company specializes in VA home loans and assisting veterans with their benefits.

St. Mary’s Expands Behavioral Health Unit

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t. Mary’s Health Center in Jefferson City unveiled its latest behavioral health technology, as well as its recently expanded inpatient unit, at an open house and ribbon-cutting ceremony on Jan. 4. The new telemedicine technology allows patients to visit with physicians live over video for 24/7 care, with

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immediate follow-up treatment by hospital staff. This technology provides patients greater access to health care professionals, including psychiatrists and psychologists, which are at an increasing shortage across the United States. St. Mary’s also expanded its number of inpatient behavioral health beds from 16 to 24 to meet

a growing need for mental health services in central Missouri. The St. Mary’s Center for Behavioral Health admitted 75 patients per month before the expansion, but receives approximately 150 inquiry calls a week about services. St. Mary’s is the only inpatient behavioral health unit in the area.


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OPENING BELL

city stats: here, there & yonder

How Columbia Compares

To Other Cities This month, we look at how Columbia compares to other likesized cities when it comes to real estate values and quality of life. How do foreclosure numbers here compare to other cities? How many new homes are being built? How far do residents travel from home to work? When you look at the numbers, it’s easy to see where Columbia does well and where she has room to improve.

Total population Columbia, Mo. 108,500 Billings, Mont. 104,170 South Bend, Ind. 101,168 Green Bay, Wis. 104,057 Pueblo, Colo. 106,595 Clearwater, Fla. 107,685

Percentage living below poverty level Columbia, Mo. 22.9%

Total housing units Columbia, Mo. 46,758 Billings, Mont. 46,317 South Bend, Ind. 46,324

Average residential real estate listing price* Columbia, Mo. $223,400

Billings, Mont. 12.1 South Bend, Ind. 13.5 Green Bay, Wis. 15.5 Pueblo, Colo. 21.2 Clearwater, Fla. 15.4

Billings, Mont. $261,786

Green Bay, Wis. 45,241

South Bend, Ind. $120,731

Pueblo, Colo. 47,593

Green Bay, Wis. $168,908

Clearwater, Fla. 59,156

Pueblo, Colo. $141,579 Clearwater, Fla. $238,198 *For week ending Feb. 22, 2012

single-family home construction permits in 2011 Columbia, Mo. 401 Billings, Mont. 308 South Bend, Ind. Unavailable Green Bay, Wis. 39 (in 2010)

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foreclosures in January 2012

Average minutes traveled to work

Columbia, Mo. 9

Columbia, Mo. 16

Billings, Mont. 9

Billings, Mont. 16.2

South Bend, Ind. 95

South Bend, Ind. 22.8

Green Bay, Wis. 152

Green Bay, Wis. 18

Pueblo, Colo. Unavailable

Pueblo, Colo. 166

Pueblo, Colo. 17.6

Clearwater, Fla. 26 (in 2010)

Clearwater, Fla. 151

Clearwater, Fla. 22

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MAY 14 - 19, 2012 TREAT YOURSELF TO MORE THAN

 WINES AT A WEEKLONG CULINARY ADVENTURE FOR WINE AND FOOD ENTHUSIASTS IN COLUMBIA.

T I C K E T S GO O N S A L E A P R I L 1 . Monday, May 14: 7).%!24at Inside Columbia’s Culinary Adventures Center Tuesday, May 15: 7).%$)..%23at four local restaurants Wednesday, May 16: 7).%-!+%2h3$)..%2at the Holiday Inn Executive Center Thursday, May 17: 7).%$)..%23at four local restaurants Friday, May 18: 4(%'2!.$4!34).'at the Holiday Inn Expo Center Saturday, May 19: 3)0342/,,%6%.4at 20 locations in downtown Columbia

For more information, visit www.ColumbiaWineFest.com

1+ 6&+(33(56 ',675,%87,1*&2


CEO ROUNDTABLE

money talks

Banking Pros Take On Columbia’s Economy, The Real Estate Market And New Regulatory Realities by SANDY SELBY photos by DANIEL BRENNER

The bankers here gathered for the CEO Roundtable enjoyed a candid exchange of ideas over a delicious lunch of beef and salmon prepared by Sara Fougere of Sara Fougere’s Catering.

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he bankers who gathered around the table for our CEO Roundtable luncheon are the caretakers of billions of Columbia’s hard-earned dollars. It’s a weighty responsibility, especially during a time when a recession has collided with stifling new regulatory policies. Yet despite the challenges, Columbia’s bankers are taking a cautiously optimistic view of 2012. Inside Columbia’s CEO Publisher Fred Parry moderated the discussion, and got the conversation started by asking

the bankers for their take on the current economy. Tony Mayfield of UMB Bank has seen an uptick in construction financing. “We’ve done some dirt-to-rooftop commercial real estate construction financing,” he said. The bank has also seen more demand for equipment financing and the expansion of working capital lines. “I don’t know whether ‘bullish’ would be the right word, but I do think we’re optimistic about 2012.” “I’d like to say we’re bullish about 2012,” said Gary Meyerpeter of The Callaway

Bank, “but at least from what we’re experiencing, the economy is not overly robust. We are seeing individuals whom we refer to as ‘having money sitting on the sidelines’ making strategic purchases at discounted prices for commercial real estate and equipment.” David Keller of Bank of Missouri looked to the numbers to tell the story of Columbia’s recovery. “I think the economy is best explained by the balance sheets of various banks,” he said. “Loan growth had been moving along at about 8 percent annually up through 2008; after 2008,

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CEO rOuNdtaBLE loan demand began to fall and continued to fall through 2010. Only in 2011 did we see any marginal growth. And I mean marginal. Tiny. Less than 1 percent. The balance sheets also show that the banks, for the most part, hit the worst of the problem-loan era through 2010 — it started in 2008 and hit the bottom of the trough in 2010. In 2011, it showed improvement.” “Our bank has always been strong and heavy in construction loans on spec homes,” said Steve Erdel of Boone County National Bank. “Prior to 2008, we had an average of 250 spec homes on our books at any time and right now we have 48. We’re at a new plateau and that number has stayed the same the last couple of

years. I don’t think it’s going to go up very much.” Providence Bank has a presence in multiple markets, including Texas and St. Louis. The Columbia bank’s president, Kit Stolen, said the local market is looking good, especially relative to St. Louis where home prices have plummeted. “I wouldn’t characterize it [the Columbia economy] as robust, but it’s got life and we’re seeing some recovery.” Hal James of Missouri Credit Union offered his take on the economy: “Consumers have stayed away from their lines of credit.” But when it comes to real estate, James said his customers are starting to shop for deals. “There is an uptick of housing. It looks like people are

CEO Roundtable Participants

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ANDREW BEvERLEY CEO Landmark Bank

ToNY mAYFIELD Community Bank president UMB Bank

STEvE ERDEL president Boone County national Bank

gARY mEYERpETER president, Boone County Market The Callaway Bank

HAL jAmES president & CEO Missouri Credit Union

KIT SToLEN president & CEO providence Bank

DAvID KELLER Community Bank president Bank of Missouri

mATT WILLIAmS Market president Hawthorn Bank

TERESA mALEDY president, Central Missouri region Commerce Bank

SpECIAL guEST: DR. RoBERT mCDAvID Mayor of Columbia

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really trying to venture out.” The biggest driver in the Columbia economy isn’t single-family home sales, though. “Columbia has been much more resilient than the rest of the country and the state of Missouri,” said Commerce Bank’s Teresa Maledy. “I think a lot of it is currently driven by the student population and it just continues to grow. We’re benefiting through the construction in the student housing area.”

RENTAL HouSINg LEADS THE WAY Parry marveled at the number of student housing complexes that have sprung up over the past few years, and wondered if the demand could possibly meet the supply. Hawthorn Bank’s Matt Williams said that, from the point of view of the student housing developer, it’s all relative. “If you look at Columbia versus some other towns, we look that much better. If they see 10 percent [vacancy] here and it’s 20 percent somewhere else, it looks a lot more attractive here. And I’m not sure there’s that much vacancy, from what I’ve been told.” Meyerpeter cited a recent survey that indicated Columbia’s apartment vacancy rate was actually at about 2 percent. “I think what’s interesting, too, is you hear about expectations of the students,” Maledy said. “More are wanting to be closer [to campus] for transportation, and their expectations as far as the finish on the apartment is just incredible and their parents are willing to pay for it.” “Stainless steel and granite,” Williams added. Heightened rental interest may not be limited to students, though. Maledy suspects people who would have purchased homes in a pre-recession economy are opting for rentals now. Meyerpeter agreed. “I have three sons and all three reside in Alabama. We were talking about acquiring residential real estate and from their perspective — and the young people they affiliate with — they are no longer as excited about acquiring a home as we would have been because they do not foresee the level of appreciation.”


David Keller (center) said he has noticed an increase in the number of retirees moving to Columbia who enjoy the city’s quality of life and appreciate the excellent health care services that are available here. On the other hand, Keller said his children are looking at attractive interest rates and thinking about buying their first homes. “I think there is a momentum to buy based on interest rates. There are a number of first-time home buyer programs out there still, and I think that market will continue to be pretty good this year.” Keller went on to say that a bright spot in home buying seems to be with the retiree demographic. “Just yesterday we met with a couple from the Lake of the Ozarks. They sold their lake home and are moving to Columbia. Why? A child lives here. The university and all the things that we aspire to promote in Columbia, Missouri, are driving that market. It’s kind of a quiet market, if you will. Doesn’t get a lot of hype, but it’s definitely vital.” Stolen spoke from the perspective of a newcomer. “As a recent homebuyer,


CEO ROUNDTABLE I think value has held up pretty well in Columbia,” he said. “I got a nice home, but it certainly wasn’t a steal. The value here has held up well for the sellers.”

Appraising The Situation Low interest rates have many homeowners seeking out refinancing, but the appraisal that is required as part of the refinancing process often reveals that the appraised value of their home has dropped.

“That depends a little on the price range of the home and if there are comparables out there,” Maledy said. “I think one of the biggest challenges when people are buying or refinancing is trying to find something that fits for a 30-year fixed.” Landmark Bank’s Andrew Beverley said that compared to the price a homeowner paid, particularly if they’ve owned the property for several years, the value has probably gone up. “We didn’t

have a great big run-up in values,” he said. “Nationally, the numbers are 27 percent down from the peak. We’re so fortunate to be in mid-Missouri for all kinds of reasons — employment and prices — not too many people are upside down in their homes.” “Fannie [Mae] and Freddie [Mac] have tightened their guidelines on appraisals a lot,” Williams said. “You used to have some flexibility on percentages and things like that, which you don’t have anymore. Used to be you didn’t spend a lot of time on appraisals and underwriting those — it was credit scores and debt-to-income ratios — but appraisals have become a much bigger issue for us.”

Help Wanted Prior to the luncheon, roundtable participants completed a questionnaire about the local economy. Their responses revealed division on the question about jobs, with half expecting employment to climb in Columbia in 2012, and half just hoping employment levels remain steady.

“Columbia is fortunate not to be dominated by national banks like so many communities our size are.” ­— David Keller

Andrew Beverley (right) believes it’s important to encourage entrepreneurs and pointed to successful companies, such as MBS Textbook Exchange and Veterans United, as bright spots in Columbia’s economy. 22

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“I think we’re excited about IBM coming to town, and that has certainly been helpful,” Maledy said. “There are a couple other pockets of jobs but as far as continual momentum of jobs being created, I guess I would say it’s been more flat.” Meyerpeter is worried about the prospect of layoffs at the University of Missouri. “What they are discussing is the possibility of layoffs and not filling positions for more than 200 individuals. What’s going to happen with those individuals and their homes?” “I think the more important question for us is: How do we identify the bright spots and try to find more of those?” Beverley said. “Look at what MBS Textbooks has done in terms of job creation. More recently, look at


Veterans United and the hundreds and hundreds of high-paying jobs they’ve added in the last few years. What can we do as bankers? What can the city do to make the climate more attractive for entrepreneurs?” Erdel said he believes local employers are holding their own when it comes to hiring. “They’re not looking to add people because they haven’t added sales,” he said. “There’s not a demand to hire.” “Many of them are waiting to see what happens and they’re going to just be as productive as they can with their existing employees so they don’t have to risk laying them off in the future,” Maledy said. “No doubt there’s a wait for the election, too,” James said. “That’s going to determine in pretty stark terms, either good or bad.” Meyerpeter posed a rhetorical question to the group: “How many additional jobs have you added over the last five years, other than for regulatory purposes? Speaking specifically about the group I manage, when someone leaves, we try to have another person take on that responsibility and increase their compensation. If you look at our numbers seven years ago versus today, you see a reduction instead of an increase in employee numbers. We’re still operating fine and we’re not making excess amounts of money on it.”

Rules And Regulations There was one thing every banker at the table agreed on — their universal dismay over cumbersome, often confusing, new regulations. When Parry asked Erdel what lies ahead with regulations, Erdel could only shrug. “I wish we knew the answer to that question,” he said. “That’s the problem. We know we have a new organization with the Consumer Finance Protection Bureau and they’re still writing regulations. We think they’re somewhere in the 10 to 20 percent of new-regulation-written stage, which means 80 to 90 percent that has not yet been put forth. We know all the other existing regulators are digging in, protecting their turf, looking at items they haven’t looked at before.” spring 2012 I Inside Columbia’s CEO

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ceo roundtable “When you talk about regulation, one of the key issues is the Dodd-Frank Act,” Beverley said. “It’s 848 pages of legislation, the vast majority of which has not been finalized, so the uncertainty that creates within our organization and within the industry is huge. I understand why Congress and citizens are angry about what happened on Wall Street. What I think, though, is that the Dodd-Frank Act coming in with a heavy-handed approach with community banks like ours is absolutely the wrong response at the wrong time.”

“Columbia is as good a Midwest town to live in as I know, and I’m optimistic for the future.” ­— Steve Erdel “My understanding is that most of that is going to hit in 2013,” Williams said. “And I think there are going to be brutal, unintended consequences. It tightens down things and costs us more money and ultimately, the consumer bears the cost. We’ve doubled the size of our compliance department already.” Erdel echoed the sentiment. “The consumer in Columbia, Missouri, is going to pay more dollars for credit and it’s going to be harder to obtain, and they’re going to be paid less on their deposits and their savings than they have been. So the customer is going to lose.” “And it doesn’t mitigate any risk at all,” James said. “There wasn’t a risk that it’s reducing. They’re just creating more to do.”

Parting Thoughts Overall, the mood of Columbia’s bankers was upbeat, despite their worries over future regulations and economic uncertainties. “We’re blessed to live here,” James said. “No doubt about it. People are conservative, which has helped us all. There are opportunities here, whether it’s the SEC or the opportunity to improve the airport. A lot of people would like to stay here after they graduate from college, and I was lucky enough to do that.” “There is such an opportunity right now with everybody pulling together 24

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to do some pretty fantastic things,” Williams said. “There are a lot of places in the country and the state that are envious of us. Banks in other markets would love to deal with the issues we have in Columbia.” “Columbia is fortunate not to be dominated by national banks like so many communities our size are,” Keller said. “I think you’re seeing more of a separation between community banking and national banking on a large-scale movement. People are voting with their feet and supporting community banks and it makes our financial community even stronger.” Meyerpeter was grateful for the opportunity to have an open exchange with his banking counterparts. “Even though we may differ on opinion, we are all open-minded and at the end of the day, all of us want to be successful for our institutions and our community at large.” Stolen praised his new hometown. “Everybody I’ve come in contact with in this community has said, ‘You’re going to love it here.’ And they wouldn’t all say that if it wasn’t true. We’re very excited about becoming part of this community.” “I think it will be interesting to see what kind of impact the regulations have on product innovation,” Maledy said. “Some of those pressures we’re all going to have might end up doing very positive things for the consumer as we come up with different kinds of products and different kinds of access.” “Columbia is as good a Midwest town to live in as I know,” Erdel said. “And I’m optimistic for the future. I don’t think there’s anywhere that will do any better” “One of my passions is pushing entrepreneurs,” Beverley said, “and I think we have a tremendous opportunity right now with the university and with the business community to really make something special happen over the next several years. We’ve built a strong ecosystem for entrepreneurship. It’s leading to jobs already and it can lead to a lot more. It’s leading to more wealth creation and there’s a lot more wealth creation where that came from. That’s what we have that other communities don’t.”. spring 2012 I Inside Columbia’s CEO

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entrepreneurial spirit

Taking A Shot Biotech Startup EternoGen Targets The Medical Aesthetics Market With Nanotechnology by KATHY CASTEEL photo by L.G. PATTERSON

EternoGen’s management team includes Rebecca Rone, Luis Jimenez, David Grant and Sheila Grant.

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hen Sir Thomas Overbury coined the phrase “beauty is only skin deep” four centuries ago, there was no medical aesthetics industry to argue with him. These days, the demand for body sculpting through cosmetic surgery, facial aesthetics and medical lasers has spawned a booming industry with a market expected to exceed $3 billion by 2017. Dermal fillers, injectable substances placed under the skin to improve skin quality, is one of the fastestgrowing segments of the medical aesthetics market. A group of local entrepreneurs plans to tap into that market with a product they say is an improvement over fillers used in procedures today. EternoGen LLC, a medical biotech company in Columbia, incorporates nanotechnology and protein engineering to create biological implants that stimulate tissue regeneration and last longer than current products on the market. The company’s work was so impressive, it attracted one of the first University of Missouri Enterprise Investment Program awards to commercialize the research. Used to smooth out facial scarring, soften wrinkles and alleviate the gauntness of lipoatrophy, dermal fillers are applied through a minimally invasive procedure that proponents say offers many of the benefits of a surgical facelift without the downtime, and at less expense. The catch: the treatment is not permanent and must be repeated and maintained. Originally, animal-  or human-based collagen was used as a filler, but the implanted tissue broke down too fast — in less than six months — and the industry moved on to hyaluronic acid, particle-based calcium hydroxyapatite and polymer-based polyl-lactic acid, substances that lasted six to 12 months before patients required new injections. EternoGen’s patent-pending product, a collagen-based gel enhanced with gold nanoparticles, promises to be more durable as it stimulates tissue regeneration and offers the added triple bonus of antioxidating, antimicrobial spring 2012 I Inside Columbia’s CEO

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entrepreneurial spirit and anti-inflammatory action that eliminates the risk of swelling and infection in patients. “It’s a 21st-century spin on an old product,” says EternoGen’s chief science officer Rebecca Rone. “Collagen has been around since the 1980s, but this version is longer-lasting because the nanoparticles bind to a specific place on the collagen fiber, where it can block enzymatic action

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that leads to breakdown. By placing the nanogold particles at certain places on the collagen fiber, collagen-producing cells are attracted to the nanoparticles, which creates more collagen deposited in the area, resulting in a longer-lasting effect.” Rone, a biological engineer, says the research team chose gold nanoparticles for binding onto the collagen “because gold is an antioxidant. These particles

are free-radical scavengers. As an antioxidant, nanogold has anti-aging properties that deflect inflammation and infection.” Founded in 2009, EternoGen grew out of the MU Biodesign and Innovation Program. The company operates with five managers: CEO Luis Jimenez, chief operations officer Ron Bassuner, Rone and biological engineers David and Sheila Grant. All have extensive backgrounds in biotechnology. Jimenez, a recent MBA graduate from the University of Missouri, also has a chemical engineering degree and experience with pharmaceutical manufacturing and U.S. Food & Drug Administration regulations. Bassuner is a geneticist in St. Louis who specializes in biotech manufacturing. Rone, who co-founded EternoGen, has biological engineering degrees from the University of Missouri and University of CaliforniaSan Diego. Co-founder Sheila Grant is a faculty member in MU’s biological engineering department with years of nano-engineering research experience; her husband, David Grant, another cofounder, has a degree in engineering operations and is an expert in biomaterial characterization. Co-founders also included physicians Anthony Harris and Jonathan Thompson, members of the 2009 MUBIP team. “We’re a platform technology company,” Jimenez says. “We specialize in product development and optimization.” Housed in the MU Health Science Business Incubator, EternoGen is establishing office and laboratory space in phases. Eventually the managers expect to hire technicians to work in the lab. Product manufacturing will be contracted, as no such facility exists in Columbia, Jimenez says. Jimenez projects EternoGen can capture 4 percent of the dermal filler market within seven years. The industry has grown more than 20 percent a year since 2005, according to the American Society for Aesthetic Plastic Surgery. By 2019, ASAPS predicts, material sales of dermal filler industrywide should be more than $1 billion. The dermal filler is the first item in


the company’s product line, David Grant says. “It offers the best way to establish ourselves in the market; then we can look at more elaborate, medically oriented applications.” Future applications of nanogoldenhanced collagen include wound and burn healing; as a clotting agent to staunch bleeding, especially crucial in battlefield medicine; as a bulk filler to alleviate urinary incontinence; and as an orthopedic agent to aid in healing bone breaks and fractures. “With further development, the properties of the product are applicable to all these uses,” David Grant says. “But first we have to focus on our primary product,” says Jimenez. “To get to these other possibilities, we have to concentrate on what we’re doing today.” Grant laughs. “That’s what Luis is good at,” he says. “He keeps us focused.” The development team must focus on meeting specific milestones as prerequisites to receiving additional payouts from the Enterprise Investment award. Having already met with preliminary success with in vitro studies, the project will move to in vivo studies in the next six months to show safety and effectiveness of the product in preclinical studies. The company must also develop a manufacturing process, establish a medical advisory board, explore collaborative relationships with industry leaders and identify possible partners to sell the product. The EIP award of $200,000 will be parceled out to EternoGen in stages, as the company meets its goals. In addition, the company has secured a $100,000 investment from Missouri Technology Corp. and another $200,000 from Centennial Investors, the Columbia angel investment group. Collaborative research partners include the University of Missouri and Sinclair Research Center. The company has an online presence with its website, www.eternogen.com. “We’re all passionate about transforming the medical industry,” Jimenez says. “And making a difference in the lives of patients,” David Grant adds. “That’s huge.” spring 2012 I Inside Columbia’s CEO

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answering the call Tim Wolfe Steps Up To The Challenge Of Running The University Of Missouri

by KATHY CASTEEL photos by DAN BRENNER


The telephone call came from out of the blue. When Tim Wolfe picked up in his Walpole, Mass., home one summer morning last year, he had no idea who was on the other end of the line. In fact, it was University of Missouri Curator Warren Erdman, but as Wolfe soon found out, the “why” was as significant as the “who”: Opportunity was calling. Erdman, then-chairman of the Board of the Curators, had spent the first half of the year searching for a new president of the University of Missouri system. He and the other curators, along with search firm Greenwood/Asher & Associates, were compiling a list of potential candidates to replace Gary Forsee, who stepped down Jan. 7, 2011, to care for his wife, Sherry, in her battle against cancer. Wolfe’s name was on his list. Caught off-guard, Wolfe peppered Erdman with a series of incredulous questions. Today, he laughs at the memory “I asked him, ‘You want me to what?’ I was just floored. And I was flattered. The opportunities were intriguing, but I still had a lot of questions and I wondered about fit.” For Erdman, there was no question of fit. “I think he was a bit surprised to get a call from me,” he says. “I didn’t know him and he didn’t know me. I just knew [business school] Dean Joan Gabel was very high on Tim and that was good enough for me to at least call and start a dialogue with him.” The dialogue may have started that day, but Erdman had his work cut out for him. “I would describe it in phases,” he says. “Phase I was introducing him to the concept and then selling him on the idea of just being a candidate; Phase II was meeting him in person and getting him comfortable about the unique opportunity to make his native Missouri better if he were to became president of 32

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the university system; Phase III was the more formal candidate interview process with the search committee, which included three interviews and extensive background examination and skills assessment.” Wolfe had his own homework plans. He’d recently left Novell Corp. when his position as president of the Americas was eliminated in a buyout by Attachmate. His “funemployment,” as he calls it, made the timing optimal for this new opportunity. As his interest grew, he set out to do his own research, and credits a conversation with Gary Forsee as the turning point in his thinking. “His view was very compelling,” Wolfe says. The curators found Wolfe’s candidacy compelling as well, and on Dec. 13 named him the 23rd president of the university. He would have two months for a crash course in all things UM before he officially took office in midFebruary, just in time to deal with the system’s twin financial woes of shrinking state resources and a pressing need for belt-tightening as administrators try to bridge a widening funding gap.

The new job has meant a homecoming for 53-year-old Wolfe. Born in Iowa City, Iowa, he moved to Columbia in the fourth grade when his father, Joe, joined the MU faculty, an appointment that stretched into a 30-year career of teaching broadcast and film classes in the Communication

Department until his retirement in 1997. His mother, Judith, earned four degrees from MU and taught in Columbia Public Schools; she is currently an assistant professor of law and director of information resources at the Massachusetts School of Law in Andover. Wolfe defines growing up in Columbia as “great childhood, great friends, healthy environment, great schools, lots to do.” The second of the Wolfes’ four children, he was a Boy Scout, a paperboy and an athlete; as quarterback, he led the Rock Bridge High School Bruins to the 1975 Class 3A state championship in his senior year. Football offered its own lessons in leadership, says Wolfe’s teammate and current MU Head Baseball Coach Tim Jamieson. “Tim’s greatest strength was his leadership,” says Jamieson, who as a junior played backup to Wolfe. “Our


pursuits

presidential

In his free time, University of Missouri President Tim Wolfe enjoys running, golf, fly-fishing, reading and music. He runs more for mental exercise than physical. “It is my ‘think’ time,” he says. Wolfe has clocked times in a variety of organized runs, from 5Ks to marathons, and set an 8:12 pace for himself in the 1993 New York City Marathon to finish in 3:35:11. His golf handicap is in the low teens; favorite courses are Augusta National in Georgia and Pebble Beach in California. A favorite fly-fishing spot is Montana, but his best haul came out of Alaska. He likes the work of most mystery authors when reading for pleasure. As for nonfiction, “I recently read Reframing Academic Leadership by Joan Gallos and Lee Bolman,” he says. “Joan and Lee are faculty members on the UMKC campus and it was a great read.” A guitar player, Wolfe’s musical tastes run to country when he’s tuning in to the radio, “but I listen to almost everything — jazz, rock, classical — it is all on my iPod.”

coach had the quarterbacks call their own plays, which was unusual even back then. We had a great deal of talent on offense so Tim had to manage the game and the personalities on the team. He was well-liked and well-respected, which is not common among all leaders.” Wolfe spent his college days at Mizzou, where he joined Beta Theta Pi fraternity, worked at The Pasta Factory, and liked to hang out at Harpo’s and Bullwinkle’s. He earned a bachelor’s degree in personnel management in 1980. After graduation, Wolfe went to work for IBM as a sales representative in Jefferson City, and then moved up to manager in Kansas City. While in Kansas City, he met and married his wife, Molly, a University of Kansas graduate with a degree in business who also worked at IBM. The couple has two children, 17-year-old twins Tyler and Madison. Wolfe spent 20 years at IBM, eventually becoming vice president and worldwide leader of the Enterprise Resource Planning Unit, and later serving as partnership executive for the University of Missouri and Cerner. In 1995, he completed the Harvard Business School’s Advanced Management Program. He was called a “change agent” at IBM. “I took over problems and fixed them,” he says. He left IBM in 2000 as vice president and general manager of the global distribution sector to join Covansys, a global consulting and technology services company headquartered in Michigan. As executive vice president, Wolfe led a large, international team in consulting engagements, taking advantage of an offshore development model. The company rebranded from CBSI to Covansys and changed its strategy during his three-year tenure. Wolfe joined Novell, an infrastructure software provider, in 2003. As Novell’s president of the Americas, he oversaw the company’s strategy, product development, mergers and acquisitions, marketing investments and community service initiatives, and implemented a shared services model for key operational units. He negotiated the sale of Novell to Attachmate last spring; shareholder value jumped 40 percent after the sale, spring 2012 I Inside Columbia’s CEO

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but in the subsequent restructuring, Wolfe’s position was eliminated. “The process of selling the company was very challenging, tedious and frustrating,” he says. “Running a company that has publicly declared it is looking for a buyer puts a lot of stress on client relationships and keeping your people. But overall, the experience at Novell was very positive.”

MR. RIGHT

LOOKING FOR

TRuLASKE CoLLEgE oF BuSINESS Dean Joan Gabel also sees pluses in Wolfe’s Novell experience. “He did what any great leader does,” Gabel says. “He implemented a positive exit strategy for his company.” Gabel first met Wolfe shortly after she arrived at MU in 2010. “Tim was the first ‘executive-in-residence’ I hosted as dean,” she says. “It’s a program where business leaders come in for a day and give presentations. I was new here — just a couple of weeks in. When I met him, I mentioned that I planned to ask for feedback from all the presenters in the program. That night, I received a multipage, detailed email on opportunities for improvement at the college. It was such a constructive critique — this is stuff I still look to, two years later. He has a unique perspective

and he communicates it in a clear, helpful and strategic style.” Gabel tapped Wolfe to be a member of the business school’s Strategic Development Board, a list of names she referred to when Erdman asked her for suggestions of potential presidential candidates. “Most of the CEOs we work with are excellent leaders and they love MU,” Gabel says. “Tim stood out because he could take what he has learned in his leadership journey and apply it. He can bridge academia and his experience in large business organizations. He gets it.”

THE pAST FEW moNTHS since Wolfe was named president have put the new CEO on the fast track to learning everything he can about the four-campus system, a period he calls his “journey of enlightenment.” He was a quick study, says MU Chancellor Brady Deaton. “Tim is open, inquisitive and eager to learn, focused and strategic,” Deaton says, “and he has firm ideas for getting our message out to the public.” Former Interim President Steve Owens is a fan. “He immediately impressed me and others with his passion for higher education and the

The University of Missouri Board of Curators set out to find a new president for the fourcampus system last year with this checklist of qualifications: Have passion for public higher education and the university’s unique mission

University of Missouri, his remarkable work ethic — he worked every day for six weeks before he was on the payroll — and his intellect, especially in quickly grasping some of the unique aspects of academia.” Erdman calls him “the best listener that I’ve ever met. He genuinely wants to learn from every conversation. He respects the opinions and experiences of others and really applies what he learns to his own informed decision-making.” Listening is Wolfe’s hallmark, one of the takeaways from his time at IBM, Covansys and Novell. “Listen. Listen to your clients or the market, listen to your people, listen to experts,” he says. “In most cases, all of these people will inform you as to what is required for success.” He terms his leadership style as “inclusive, engaged and collaborative.” “Implicit in leadership is trust,” he says. “You facilitate where you want to be, and allow the people you lead to find the best route. If you can bring people to the table and get them to focus on arriving at a consensus … that’s the power of conversation. You have to include everyone in how they define goals and achievements, but that doesn’t mean you don’t hold them accountable.” Wolfe has no plans for immediate

system, including the ability to effect change through strategic decision-making Champion a working and learning environment that reflects strong positive values, diversity and integrity

Lead with vision, and inspire creativity and innovation for a sustainable future

Assemble, develop and empower an excellent team of leaders and be able to work with a diverse board of curators

Leverage the university’s resources to advance the state’s economy, education, health and culture

Understand and respect the differences among the four campuses

Serve as a tireless champion for public higher education issues such as quality, access and affordability Create and sustain a culture of transparency, accountability and shared governance Be an effective and compelling communicator Cultivate strategic relationships with academic, political, business and other relevant constituencies Have the academic, business and political acumen necessary to lead a complex and diverse

Appreciate the state of Missouri and Midwest history, culture, socioeconomic environment and aspiration “We were looking for the candidate who best met all of the candidate criteria that our stakeholders told us they wanted in their next president from our statewide stakeholder feedback meetings,” says Curator Warren erdman who, as then-chairman of the board presided over last year’s presidential search. “Tim Wolfe best met all of those criteria.”


changes in the university system’s organizational structure. “Organizational changes do not improve performance or results,” he says. “Out of the conversations come priorities and resources. Then, down the road, you can look at meaningful change.” His role, he says, is to be the leader of the University of Missouri system, and help the four campuses, plus the health care system and Extension Service, achieve the goals defined in their mission statements. “They are all unique and serve different constituencies,” he says. Economic development is part of each campus’s mission, as integral as teaching, research and service, Wolfe adds. “Missouri is in a race for jobs, and that race is a global one. We have to provide a business-friendly climate in the state to attract business and convince those already here to expand. The $64,000 question is, ‘How?’ With an educated workforce, we have a value proposition for companies: if you locate here, rest assured you’ll have graduates prepared for success, in a business environment complemented by research and innovation.” Economic development, he says, “is about getting business, higher education, the city and the state to focus together on opportunities in the marketplace, as one industry in partnership.”

THE CLoCK IS TICKINg on Wolfe’s first challenges as University of Missouri president. A $47 million budget gap must be resolved before the fiscal year begins in July. As he told the Board of Curators in a teleconference Feb. 20, “There’s one thing I want to make clear: We need more help. Without more resources, we face the loss of jobs and the loss of programs. There are programs, functions and roles that we can no longer afford.” He has no specifics yet for the budget cuts that are coming, calling the process “a work in progress,” yet he concedes that three-fourths of the university’s budget is personnel, raising the specter of layoffs in Columbia where the largest employer is the system’s flagship campus. The Board of Curators is looking to the new president’s corporate expertise to help in that arena. “President Wolfe’s business acumen will be essential in

ABOVE: Tim Wolfe (center) greets well-wishers at a public welcome reception hosted by MU Chancellor Brady Deaton (right) in February. A skilled conversationalist, Wolfe easily chatted with Columbians on a wide variety of impromptu subjects. AT RIGHT: Wolfe, flanked by his wife, Molly, and his children, met with community members for more than two hours, addressing everyone in a reception line that sometimes seemed as endless as the conversation topics.

working with our campus chancellors to narrow our $47 million budget gap next year,” says chairman David Bradley. “We feel that Tim will collaborate with staff to make the least painful choices to bring our university expenses in line with revenue.” The system’s strategic plan will influence where the cuts occur, Wolfe says. “Our top priorities are student academic success and raising salaries so we can pay our people market rates.” But where to find that help, those extra resources, to stave off the next round of cuts as traditional sources of public higher education funding erode? Owens notes that Wolfe is already committed to enhancing outside sources of revenue — such as creating more public/private partnerships — and allocating resources to those areas that are vital in maintaining quality.

Wolfe is looking for a partnership with the people of the Show-Me State. “We have to make all 6 million Missourians aware of what we’re doing at the University of Missouri. We have to give them a reason to care. When people care, they get involved and they help find those resources.” He began crafting an awareness campaign his first day on the job, and issued a call to action to faculty, staff and students to tell the university’s story. “We’re going to convince every Missourian of the power and value of our four unique campus brands, our health care system and Extension Service,” he says. “By the way, that’s the easy part. We have much to brag about. “The University of Missouri system is the biggest asset in the state. It’s my job to make sure everyone knows that — and they will.” sprIng 2012 I InsIde ColumbIa’s CEO

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SPECIAL ADVERTISING SECTION

Inside Columbia’s CEO

Wealth Manager Portfolio

The Local Financial Services Professionals With The Know-How You Need


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Aaron Rigdon

Financial Advisor 573-447-5605 3200 W. Broadway Columbia, MO 65203 aaron.rigdon@primevest.com

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aron Rigdon, a financial advisor at Callaway Investment Services, has had a longtime infatuation with numbers, financial markets and investing. “I knew I wanted to be in this role before I could drive,” he says. Rigdon earned a bachelor’s in finance from MU and is an Investment Adviser Representative. In working with clients, he prioritizes trust and communication. “Honest and transparent straight talk from both sides is crucial to a successful relationship,” he says. “Your advisor needs to understand your comfort level with risk and have the expertise to help you reach your financial goals.” Callaway Investment Services, housed within The Callaway Bank, is an investment program with a full suite of financial planning and investment options provided through PrimeVest Financial Services.

Rigdon’s registrations include Series 7 and 66 general securities licenses and licenses for life and long-term care insurance. Rigdon notes that keeping up-to-date with investment trends and changing regulations is a daily discipline. “I spend a great deal of time reading, attending conferences and with continuing education,” he says, adding he’s also in regular contact with PrimeVest analysts and researchers. Before becoming a financial advisor, Rigdon was an account manager with about 80 accounts for a company focused on institutional investors, such as investment banks, pensions, hedge funds, etc. “While I found that role to be challenging and interesting, it was not as rewarding as guiding people through their investment planning,” he says. “Helping my clients plan for their financial independence brings a much deeper sense of satisfaction.”

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Angie Cunningham CPA, Sue Miller CPA, Jodi Bales CPA

Miller, Bales and Cunningham, P.C. 1603 Chapel Hill Rd. Suite 203, Columbia, MO 65203 • 573-447-1777 • www.mbcadvisors.com

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ue Miller, Jodi Bales and Angie Cunningham, all CPAs, began Miller, Bales & Cunningham, P.C., with a vision of becoming mid-Missouri’s leading financial services firm for business owners and professionals who value long-term personal relationships, quality of service and integrity. “Our portfolio of wealth management, investment, insurance, accounting and tax services provide the business owners, professionals and families who work with us easy access to the solutions they need, when they need them,” says Miller, who, along with Bales, is a licensed financial professional (Series 7 and 66) and a licensed life and health insurance producer. “Our capabilities put us on a competitive level with the largest firms, but with the close attention to detail and personal service provided by smaller firms.”

All team members subscribe to these five company values: 1. We focus on producing results and providing value for our clients. 2. We are a professional organization that practices with integrity and honesty and a commitment to the highest standards of excellence. 3. We place a high value on our personal relationships, caring for our clients and each other. 4. We are committed to learning, developing professionally and personally. 5. We are community focused and participate in the civic life of the communities in which we live and work. “We approach all of our services with the client’s interest first,” Bales says. “We value the trust that our clients place in us in seeking our advice and knowledge for all their financial decisions, knowing we will find the right solutions for them.”

Jodi Bales, Sue Miller – Financial Advisers. Investment and Insurance products distributed by Genworth Financial Securities Corporation, member FINRA/ SIPC, and a licensed insurance agency (dba Genworth Financial Securities and Insurance Services in CA); investment advisory services are offered through Genworth Financial Advisers Corp., and SEC Registered Investment Adviser. Home office at 200 N. Martingale Road, Schaumburg, IL 60173; phone 888.528.2987. Miller, Bales & Cunningham PC is not affiliated with Genworth Financial Securities Corp. or Genworth Financial Advisers Corp.


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David Stepanek, Executive Vice President, and team

Central Trust & Investment Company 720 E. Broadway, Columbia MO 65203 • 573-874-8490 • www.centrustco.com • dave_stepanek@centrustco.com

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entral Trust & Investment Company is the wealth management division of Boone County National Bank. The firm has three primary services: investment management, trust & fiduciary services, and retirement plan services. “We currently assist our clients with over $4 billion in investments, of which $1.3 billion is right here in Columbia,” says Executive Vice President David Stepanek. “We manage portfolios for successful individuals, institutions, foundations, endowments, pension plans and government entities.”

One of the strengths of Central Trust is the superior experience and credentials of its team, which includes 21 portfolio managers with an average of 25 years of experience, as well as staff attorneys, CFPs, CFAs, CPAs, CTFAs, CIMAs and several other credentialed professionals. In all Central Trust does, it upholds the following values: 1. A client focus. “We develop for each client a plan that meets their specific risk tolerance, income and liquidity needs, time horizons, and tax situation,” Stepanek says. 2. Objective advice. The firm operates on a fee basis and receives no commissions,

loads or transaction charges, so it can focus exclusively on building portfolios that best meet the needs and goals of clients. 3. Local decision-making with national expertise. All clients are assigned a team of three local experts who, together with numerous national research partners, provide clients integrated wealth management through comprehensive planning and world class investment solutions. One more reason clients put their trust in Central Trust: the firm’s financial strength. Central Trust & Investment Company, as part of Central Bancompany, is named one of Forbes magazine’s Best Banks in America for 2012.


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Ryan Lovill, CFP®,Market

Commerce Trust Company Executive, Central Missouri Region

901 E Broadway Columbia, MO 65201 573-886-5275 commercebank.com

Ryan.Lovill@commercebank.com

F

or Ryan Lovill, The Commerce Trust Company’s market executive, success means providing clients with comprehensive and objective wealth management advice to guide them toward achieving their goals. And when he says “comprehensive and objective,” that’s just what he means. “As a member of the Financial Planning Association, I regularly attend educational sessions that help stay abreast of changes occurring with tax law, legislation and the economy, as well as best practices in financial planning,” says Lovill, a CERTIFIED FINANCIAL PLANNER™. “At Commerce, we also have the opportunity to meet with analysts, economists and strategists from research firms who provide insight to individual corporations and organizations on broad overall investment trends. These meetings provide us with important insight to the investment world.” Meanwhile, keeping up with periodicals helps Lovill remain current with trends, regulations and their impacts on Commerce clients.

Since 1906, The Commerce Trust Company, a division of Commerce Bank, has been a leading source of tailored asset management, creative private banking and comprehensive trust services for individuals, families, corporate executives and business owners. In addition, Commerce Trust serves a variety of institutional clients with customized investment programs, as well as sole-source solutions for all their financial needs. Commerce Trust clients can feel good knowing that the 60 professionals comprising their in-house investment team average over 24 years of experience, while Commerce’s trust administrative staff averages over 23 years. Commerce Trust clients can also feel good knowing Commerce invests in its communities. “We are only as strong as the communities in which we do business,” Lovill says, “and we give millions to community and charitable programs. In everything we do, we strive to be a good corporate citizen.”


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Jared W. Reynolds and Carroll Wilkerson


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Wilkerson & Reynolds Wealth Management Carroll Wilkerson, CFP® & Jared W. Reynolds, CFP® 200 East Southampton Drive Ste 101 Columbia, MO 65203 573-875-3939 wrwealth.com carroll@wradvisors.com jared@wradvisors.com

W

hen it comes to wealth management, interest levels make all the difference. And at Wilkerson & Reynolds Wealth Management, partners Carroll Wilkerson and Jared Reynolds know that covers not just account rates but also the level of interest that financial advisors take in exceeding the expectations of clients. Having met at the Waddell & Reed division office in Columbia — which Wilkerson opened in 1987 and which Reynolds joined in 2001 — these two Financial Advisors and Certified Financial Planner™ practitioners launched Wilkerson & Reynolds Wealth Management in 2009. Carroll and Jared offer a wide variety of financial products and services, along with high levels of personal care. Both Wilkerson and Reynolds approach their work with the enthusiasm that comes from being in a career that fits and fulfills their personalities. Wilkerson tells how he was fortunate to have a close friend working for Waddell & Reed who recognized his abilities were a good match for working in finance. “I considered the love I have for working with numbers and with people, and I decided this was a career in which I could have great success and enjoyment,” he says. As for Reynolds, he once thought he would use his superb problemsolving skills in a law career but while at MU, felt an attraction to helping people bring clarity to their financial lives. “I changed my major to personal financial planning, and I never looked back,” he says. Now as a team, Wilkerson and Reynolds offer their clients core strengths in three areas: 1. Investment management. Wilkerson and Reynolds do all their own research and make all investment decisions in-house. As opposed to a buy-and-hold strategy, they implement an active approach to investment management. They analyze investments from a large

universe and then objectively select suitable investments and products based on clients’ individual needs. 2. Wealth management. Wilkerson and Reynolds create a customized wealth plan using tax, estate planning and insurance strategies designed to help clients achieve their financial goals. 3. Design and implementation of qualified retirement plans. Rather than use a prototype plan, Wilkerson and Reynolds like to create custom documents and design each retirement plan to fit the needs and goals of the company. This can help allow for additional flexibility to help maximize the assets business owners can invest for their retirement. Wilkerson and Reynolds strive to keep up with the trends and regulations in the financial industry: through attending numerous conferences, collaborating with a network of top independent advisors around the nation and spending countless hours researching. As Financial Advisors and Certified Financial Planner™ practitioners, they both must meet continuous education requirements to maintain their knowledge in the continually changing economic environment. “Our mission,” says Wilkerson “is to assist our clients in making informed financial decisions through education, communication and a sound financial planning process. Our interest is in forming long lasting relationships based on honesty and integrity.” Jared Reynolds and Carroll Wilkerson are Financial Advisors offering Securities and Investment Advisory Services through Waddell & Reed, Inc., a Broker/Dealer, Member FINRA/SIPC and Federally Registered Investment Advisor. Insurance products are offered through insurance companies with which Waddell & Reed has sales arrangements. Waddell & Reed and Wilkerson & Reynolds Wealth Management are not affiliated entities.


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ip Richard A. Blankechnsh Manager First Vice President – Bran

2100 Forum Blvd Columbia, MO 65203 573-446-5650

/ http://home.wellsfargoadvisors.com hip kens richard.blan richard.blankenship@wfadvisors.com

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ichard Blankenship, a Financial Advisor with Wells Fargo Advisors, feels compelled to make financial education his purpose. He has personal motivation. After his father’s premature death, Blankenship’s mother invested inheritance proceeds and saw the investment soured. “I became determined to understand money, investments and finance so that the possibility of that happening to my family and friends, and ultimately, my clients would be unlikely,” Blankenship says. Blankenship earned his M.B.A. and multiple securities registrations, as well as

life and health insurance licenses. He’s also a Certified Retirement Planning Counselor, Certified Investment Management Analyst and has worked in the industry since 1994. His investment approach is based on a rational, disciplined process, which includes formulating an investment policy statement that defines asset allocation, diversification and parameters based on a suitable risk (volatility) tolerance. He explains: “People have a tendency to be overly influenced by geopolitical events, natural disasters, etc. Subscribing to the Envision Process reduces the tendency to get caught up in market and media noise.”

As part of Wells Fargo Advisors — one of the nation’s premier financial service firms, representing some 15,000 financial advisors in 5,000 U.S. locations — Blankenship has access to world-class resources and is free to offer objective recommendations. “The M.B.A. influence makes me enjoy researching companies and economic analysis,” he says. “But more than that, this career is personally gratifying because clients let you into their personal lives. So many business metrics determine success, but in our business, success is determined by how you help improve people’s lives. That’s my purpose!”

Envision® is a registered service mark of Wells Fargo & Company and used under license. Wells Fargo Advisors, LLC is a registered broker-dealer and a separate non-bank affiliate of Wells Fargo & Company ©2011 Wells Fargo Advisors, LLC. All rights reserved.

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SPECIAL ADVERTISING SECTION

Raymond James

Financial Services, Inc. MEMBER FINRA/SIPC

Gregory M. Reed

3201 S. Providence Road, Ste. 102

Columbia, MO 65203 573-777-1934 www.raymondjames.com/ gregoryreed greg.reed@raymondjames.com

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s a kid, Gregory Reed was fascinated by the strange newspaper with powers over his grandfather’s mood. “I didn’t really know what the Wall Street Journal was then,” says Reed, now an independent financial advisor with Raymond James Financial Services, Inc. “I just knew it didn’t have a sports section. As I grew older, I realized that my grandparents had been able to retire and move to Holts Summit to be closer to my mom because of what was in that paper and the fact that my grandpa invested his money in stocks and bonds rather than in bank CDs.” Reed’s career in wealth management began in 1997, just months after Alan Greenspan’s famous line about “irrational exuberance” in the markets. “I think it’s ironic that the Dow closed at 6,437 on that day, and today we are pushing 13,000,” Reed remarks.

Reed has his Series 63 and 7 securities licenses, and is a Registered Investment Advisor Representative. He also holds licenses for life and health insurance. Because no two clients are alike, Reed is deliberate about encouraging his clients to think about what’s important to them. This conversation allows him to help his clients recognize and prioritize their goals. Then Reed helps them get there. Reed sums this approach up with a mantra from his college pitching coach: Plan Your Work and Work Your Plan. Ensuring Reed remains up-to-date on changing regulations and shifting trends is continuous education he receives through Raymond James Financial Services. “Between those resources and reading the Wall Street Journal every morning, I stay well-informed,” he says. sprIng 2012 I InsIde ColumbIa’s CEO

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SPECIAL ADVERTISING SECTION

U MB Bank

Tony Mayfield

uri President – Central Misso Region 1516 Chapel Hill Road Columbia, MO 65203 m Tony.Mayfield@umb.co 573-446-3404

Shelly Addington

Vice President/Private Banking 3828 S. Fremont Ave. Springfield, MO 65804 Shelly.Addington@umb.com 417-891-2105

Tracy Barnas

Senior Vice President/Wealth Advisor

3828 S. Fremont Ave. Springfield, MO 65804 Tracy.Barnas@umb.com 417-891-2103

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MB Bank has a strong commercial and consumer banking presence in Columbia, and as president of the UMB Bank’s Central Missouri Region, Tony Mayfield often hears from Columbians wondering whether UMB Bank offers wealth planning services, too. “The answer is, ‘Yes, we certainly do,’” he says. “UMB Investment and Wealth Management is a full-service advisory, trust and custodial organization. We are able to combine the strength, resources, and expertise of a multi-billion dollar asset management firm with the personalized service of a private bank.” The seasoned team at UMB offers wealth planning services such as financial reviews, accumulation strategies, wealth transfer strategies, asset preservation, estate planning, retirement planning and advanced tax strategies.

UMB taps the expertise of team members in Columbia and across the region to provide clients with the people and tools needed to manage their financial lives completely. These financial experts provide the knowledge and resources to determine financial planning strategies, with the ability to customize and tailor solutions to achieve the unique financial goals of clients in any stage of life. “We find out what their needs and priorities are, and we pull a team around the client,” says Tracy Barnas, senior vice president and wealth advisor. “Then we go to work to help them address what’s keeping them up at night and to help them achieve the goals they have for themselves, their families and their communities.” At UMB Bank, Columbians have access to a 99-year-old financial partner with Midwest attitudes about relationship-banking.


SPECIAL ADVERTISING SECTION

Schuster

Financial Services Betty J. Schuster, CFP®

2000 Forum Blvd., Ste. 3 Columbia, MO 65203

573-446-0389 www.schusterfinancial.com

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t Schuster Financial Services, personal attention, service and unparalleled experience combine to help furnish clients with solutions for their financial future. “Schuster Financial Services began offering financial services 25 years ago,” says Betty Schuster, a financial professional and the owner of Schuster Financial Services. “We have developed working relationships with individuals and businesses throughout Missouri and many surrounding states. We offer customized services in individual and business planning. We also provide wealth transfer and executive benefit planning services.” Schuster focuses her practice on tailoring financial plans to individual client needs, and her respect for clients is shown in her commitment to making sure the financial plans she develops with them make sense to them and are presented in terms that clients can then communicate to others who have their trust. “Investment strategies and products are commodities,” Schuster

says. “However, personal service and relationships are not commodities. We feel we are at our best when we deliver personalized service and develop relationships while implementing our clients’ financial plans.” As a lifelong resident of mid-Missouri, Schuster extends those relationships to community service. She has served as president of Women’s Network — the largest division of the Columbia Chamber of Commerce, and she’s also served through Woodhaven Learning Center, United Way and The King’s Daughters. She observes, “Volunteer opportunities remind us of the importance of building relationships that serve as strong foundations for success in business and life.” Insurance products from the Principal Financial Group® are issued by Principal National Life Insurance Company (except in New York) and Principal Life Insurance Company. Securities and advisory products offered through Princor Financial Services Corporation, 800/247-1737, member SIPC. Principal National, Principal Life and Princor® are members of the Principal Financial Group, Des Moines, IA 50392. Betty Schuster, Principal National and Principal Life Financial Representative, Princor Registered Representative, Financial Advisor. Schuster Financial Services is not an affiliate of any company of the Principal Financial Group. t12022001tf


SPECIAL ADVERTISING SECTION

Don L. Landers, Garry D. *Weiss, Coralie B. *Forsee, Sandi *Haynes

Landers, Weiss & Forsee, LLC • Financial Advisors 33 E. Broadway, Columbia MO 65203 • 573-449-0018 • www.lwandco.com • gweiss@lwandco.com

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t Landers, Weiss & Forsee LLC, Financial Advisors, clients don’t have to “consult their tax advisors”; their financial advisors are their tax advisors. In 2003, the partners of the CPA firm Landers, Weiss & Co. LLC saw a need for financial services with an emphasis on taxefficient strategies and so formed the financial services firm Landers, Weiss & Forsee LLC. “Under prior state law, CPAs in Missouri were prohibited from offering financial services,” explains Don Landers, a firm partner with Garry Weiss and Coralie Forsee.

“When that law changed, we realized that we were in the best position to offer our clients financial services since we were already familiar with their financial situations, we had established relationships, and we could offer something other financial professionals couldn’t: Tax advice for maximizing the tax efficiency of their investments.” At Landers, Weiss & Forsee, the emphasis is on goal attainment rather than returns. “This requires periodic reviews, tax efficiency and attention to risk for each client in every step of developing, implementing and following a plan, and also provides a comfort

level for clients when the markets are volatile,” Weiss says. The firm keeps up-to-date with a continuing education program through its broker dealer, 1st Global Capital Corp., and through web and live seminars on various financial products. “In addition, as partners in a CPA firm, we take at least 40 hours of continuing education annually, which includes tax updates and financial industry updates,” Forsee notes. “We are uniquely positioned to give our clients expert, comprehensive and tax-efficient advice for reaching their financial goals.”

*Registered representative licensed to offer securities through 1st Global Capital Corp., Members FINRA, SIPC. *Investment advisory services offered through 1st Global Advisors, Inc. Insurance services offered through 1st Global Insurance Services, Inc.


SPECIAL ADVERTISING SECTION

Michael Flanagan

2804 Forum Blvd. Suite 2 Columbia, MO 65203 573-446-7163 http://fa.ml.com/ michael_flanagan michael_flanagan@ml.c

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ichael Flanagan and his wife moved to Columbia in 1989 when the Fortune 500 company he worked for as an account manager transferred him here. Five years later, the Flanagans had fallen in love with Columbia, and so he made a career change that would prevent further transfers. “I decided to pursue my interest in the financial services industry, and in 1994, I joined Merrill Lynch as a financial advisor,” he says. Almost 18 years later, Flanagan is still with Merrill Lynch, where he finds great satisfaction in helping clients develop their own strategies to secure what’s important to them.    “My guiding philosophy would be to always encourage people to plan for the worst, hope for the best, and be prepared for whatever happens,” he says. Flanagan, a Certified Financial Manager with multiple securities

licenses, draws on all that Merrill Lynch has to offer — specialists in mortgages, banking, retirement, philanthropy, insurance and business financial services — to provide clients with advice for all facets of their financial lives. Flanagan’s community service includes serving as head coach of the Columbia Youth Wrestling Club since 1992. He is also a longtime member of Columbia Northwest Rotary and Columbia Chamber of Commerce, vice president of Columbia Swim Club and a founder of Columbia Independent School. Having served with the same firm, behind the same desk for almost 18 years, Flanagan considers experience to be his most valuable training. “No amount of book training can compare to what our clients and our industry have been through over the last 12 years,” he says. “I was there to learn the lessons.”


SPECIAL ADVERTISING SECTION

Tony Sublett, Mark Richardson, Terry Seboldt

The Bank of Missouri

Investments and Retirement Planning 3610 Buttonwood Dr. Ste 100, Columbia, MO, 65201 • 573-874-4900 • www.bankofmissouriinvestments.com • info@bankofmissouriinvestments.com

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t The Bank of Missouri Investments & Retirement Planning, the mission is simple: Help people make good decisions with their money. “We take time to listen to our clients, to understand their goals, risk, and long-term plans, and then help them develop a financial strategy including more than just investment management,” says Terry Seboldt, president and director of Investments & Retirement Planning. “It may cover estate planning, tax efficiency, insurance needs, accumulation strategies, as well as retirement spending strategies.” The Investments & Retirement Planning Division started in 2005 and has since grown to $145 million. The team includes Seboldt, an Accredited Investment Fiduciary™; Mark Richardson, a senior vice president and a CERTIFIED FINANCIAL PLANNER™; and Tony Sublett, a regional portfolio manager. Seboldt spent 20 years in the U.S. Air Force as

Comptroller and Accounting and Finance Officer and has spent the past 20 years in the trust and wealth management field. Richardson has 14 years in banking and financial management. In Sublett’s 25 years in commodities management, brokerage and wealth management, he has managed some of the largest portfolios in the Columbia region. In addition to wealth management, the firm offers employee benefit plans, such as 401(k), Defined Benefit and 403(b). The Bank of Missouri takes pride in its community involvement and conducts public education seminars, such as Healthy, Wealthy, and Wise luncheons. “Providing education to our employees is part of our business model, and we carry that over to our clients and potential clients,” Seboldt says. “We believe our role is more than running investments; it’s helping clients feel confident about their plans.”

Securities offered through SagePoint Financial, Inc. Member FINRA/SIPC. Trust-related services offered through The Bank of Missouri. The Bank of Missouri is not affiliated with SagePoint Financial, Inc. NOT A DEPOSIT • NOT FDIC-INSURED • MAY GO DOWN IN VALUE • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT GUARANTEED BY THE BANK


S P eC IAL ADveRTISING SeCTION

[ meeting planners guide ] PuttinG sustainabiLity on your to-Do List

going green

Conferences have the potential to be very environmentally unfriendly, what with all those disposable water bottles, styrofoam coffee cups and paper registration forms. but today’s meeting planners are taking a closer look at wasteful practices and instituting new strategies. the oceans blue foundation offers some simple ways to make your next meeting a little bit “greener.” ➤ save energy. Coordinate with the meeting venue to ensure that lights and air conditioning will be turned off when rooms are not in use. ➤ use paperless technology. use new media and electronic technology to cut down your paper use. Create a conference website, offer electronic registration and confirmation, and advertise using the web and/or email.

➤ Close the recycling loop. have all printed materials published on recycled paper, using vegetable-based inks, and printed on both sides of the page.

➤ eat green. work with your caterer to provide meals prepared with local, seasonal agricultural products.

➤ Practice the 3rs. ask your hotel or meeting venue to provide visible and accessible reduction, reuse and recycling services for paper, metal, plastic and glass.

➤ Drink responsibly. Give your delegates reusable coffee mugs at the start of the conference.

➤ Play tag with your attendees. Provide ‘reuse’ collection bins for delegate nametags.

➤ invite virtual attendees. ask those who are unable to attend in person to participate in the meeting virtually, by using new technology such as telephone, satellite or online conferencing.

➤ say it with silk flowers. Choose centerpieces and decorations that can be reused, such as living plants or silk flowers. Give these away as table prizes.

➤ share meals. arrange to have leftover food donated to a local food bank or soup kitchen. 52

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➤ Look for a sign. Create signage that can be reused in future events.


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sp ecial advertising section

[ meeting planners guide ] answer your venue’s questions before they even ask

everything they need to know Communication with the staff at your meeting venue is key for a successful event. Provide your venue’s representative with the information on this guide, and it could mark the start of a beautiful relationship. The Basics >>> Meeting Name

Logistics >>> Registration Location

>>> Meeting Dates

>>> Registration Dates/Hours

>>> Major Arrival and Departure Dates

>>> Exhibits Location

Include information about how your attendees will be arriving. Will they drive? Will they arrive at the airport and need transportation? Will there be a high number of international visitors?

>>> Exhibit Setup and Teardown Dates/Hours

Who’s In Charge >>> Host Company or Organization >>> Billing Address >>> Key Contact Name(s) >>> Contact Telephone Numbers and Email Addresses >>> Name Of Person Authorized To Make Financial Decisions About The Meeting >>> Company VIPs 54

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Housekeeping >>> Do you need the housekeeping staff to check the space several times during the day? If so, specify the frequency here.

Shuttle Service/ Transportation >>> Let your venue know when to expect peak travel times so they can call in reinforcements if needed.

>>> Exhibit Viewing Dates/Hours >>> Audio/Visual Requirements

Be specific about equipment needed in each meeting room during the conference. Room Setup >>> Draw diagrams if needed to show how you’d like each meeting room set up. >>> Do you need table skirts? Easels outside the room for signage? A refreshment table? That’s all information you should include here.

Lounges & Restaurants >>> If you’re meeting in a hotel with on-site restaurants and lounges, let the hotel know when those facilities might expect heavier usage from your attendees.

Reservations >>> Do any of your company’s staff need accommodations on-site during the meeting? If so, be sure to book a block of rooms well in advance.

Security >>> Let the facility know the hours that meeting rooms are to be locked and unlocked during the event.


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DIVIDENDS

tech talk

Make Your Smartphone Smarter Six Apps To Get You Around Town

by whitney dreier

Nearly half of all Americans use smartphones. These devices might not make us smarter, but they can make us more efficient by providing access to useful information in an organized, straightforward manner. Here are eight applications that can help you get about Columbia — but please, don’t use them while driving. For The Business Person: CoMO2Go Android, Apple, Blackberry devices Free Find comprehensive information about Columbia’s business community through the Columbia Chamber of Commerce’s new app, released Jan. 26. It provides a full member-company directory, calendar of events, news and video feeds, special offers and more. “If you want to know what is going on in the chamber, Women’s Network or EPIC or want to know when businesses have a ribbon-cutting for grand openings or celebrations, this is a great tool,” says Victoria Brees, director of program development. “If you are looking for a business or need a specific product or service, our member directory is great tool that’s just a click away — the built-in contact information and map will lead you right to our members.” For The Sports Fan: Missouri Tigers Sports Android, Apple, Blackberry devices Free; additional fees may apply for live gameday audio Are all your T-shirts black and gold? Do you schedule your weekends around Mizzou athletic events? The Missouri Tiger Sports app is for you; MU teamed up with the CBS College Sports Network to deliver comprehensive coverage of Mizzou sports, including live audio, scoring and video, play-by-play, breaking news and social network sharing. Team rosters, schedules and photos are also accessible.

Released last fall, the app still has a few kinks that need to be worked out, but this one promises to be a must-have for Tiger sports fans. For The Nature Lover: Official MO State Parks Guide Android, Apple devices Free If you frequent Rock Bridge or Finger Lakes state parks, check out the Official State Parks Guide, which includes interactive GPS mapping guides that display facilities, trails and campgrounds. “The GPS functions and interactive mapping is extremely useful for the park visitor,” says Richard Dubi, CEO of ParksByNature Network, which developed the app. Dubi notes that the guide is the most comprehensive of its kind — 85 percent of its functions will work without mobile reception. “The maps can be cached to smartphones, and the GPS capability allows the visitor to mark waypoints, track, save or share them.” You’ll also have access to upcoming events, news, alerts, weather conditions, pet policies and more. Choose a park by location or activities available, and share your outdoor experiences through social media, or track your friends using the Friend Finder. For The Wine Lover: Missouri Wines Apple devices, available for Android this spring Free Brought to you by the Missouri Wine & Grape Board, this app provides the most up-to-date listing of all 114 Missouri wineries. Search the map for vineyards

near you, by type of wine, or even by wine trail. You’ll also have access to the Missouri Food and Wine pairing guide, which is specific to Missouri varietals. When you find a bottle you like, record it in the wine log. We recommend downloading this app before Inside Columbia’s Wine & Food Festival (May 14­–19). For Folks On The Go: MoDOT Traveler Information Map Android, Apple devices Free Avoid traffic snarls by staying upto-date on road conditions via the Missouri Department of Transportation’s Traveler Information Map. Zoom in on a particular area of the state to see weatherrelated situations, such as closures due to flooding, ice or snow. The radar images (provided by the National Weather Service) are constantly updated, so you can make decisions based on real-time information. Traffic complications such as work zones and accidents are also available. For The City Slicker: Gotta Go Como Apple devices Free With so many colleges, restaurants, festivals, art galleries and entertainment venues in town, there’s always something to do in Columbia. Now the city’s Convention and Visitors Bureau can digitally direct you to the best places and events in town. The Gotta Go CoMo app also features an interactive map and photo gallery. You can search dining, shopping and outdoor activities based on your interests or location. spring 2012 I Inside Columbia’s CEO

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executive travel

Get Set To Jet Set

be a savvy Traveler on Your next business Trip With new luggage by HALEY ADAmS photo by DANIEL BRENNER

Whether you’re going to a meeting in the Bahamas or St. Louis, bad luggage can wreck even the smallest trip. Suitcases and travel accessories are no longer about the simple rolling carry-on. With various sizes, compartments and designs, it’s easy to find a suitcase that fits your style. For businessmen who like to keep it traditional, try a brown leather suitcase for an overnight, or a leather briefcase for the board meeting. If you’re a female executive who wants a fun look to your luggage, try a suitcase with a print. It will save time at baggage claim, and make you stand out from your colleagues. Prefer convenience to fashion? Pick a luggage set in a neutral color with rollers and easy-to-pick-up handles. 2

1 eagle Creek crossroads duffel, available at The Alpine Shop ($165)

eagle Creek Pack-It Specter Folder, available at The Alpine Shop ($32)

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eagle Creek rolling suitcase, available at The Alpine Shop ($210)

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vera Bradley roll-along tote, available at Dillard’s ($220)

vera Bradley roll-along duffle, available at Dillard’s ($220)

Dr. koffer leather briefcase, available at Binghams ($325)

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5 Sensorpedic memory foam neck pillow, available at Dillard’s ($19.99)

Lilly Pulitzer iPad Case, available at Dillard’s ($25)

Dr. koffer leather overnight bag, available at Binghams ($375)

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networking

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providence bank reception

Providence Bank recently welcomed Kit Stolen as the new president and chief executive officer to the Providence Bank family and the community. A reception was held at the Clinton Club in Mizzou Arena on Jan. 24 to honor Kit and his wife, Jill. Guests were treated to a delicious appetizer buffet catered by Levy Restaurants. (Photos provided by Pam Lepper) 1. Major Bret Johnson and Eric Morrison 2. Brett Burri and Jack Daugherty 3. Jen MeGee and Tana Hagen 4. Kit Stolen 5. Pat Eng, Vicki Russell and Kit Stolen 6. Joe Henderson, Sarah Stieferman and Mary Sherrill 7. Janet Hill, Byron Hill and Brian Neuner

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networking

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Sinclair School of nursing dinner

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The MU Sinclair School of Nursing External Advisory Council hosted a gala dinner Feb. 24 at The Club at Old Hawthorne. Sponsored by council members Richard Miller and Brian Neuner, the dinner brought together nursing students and community members. Dean Judith Fitzgerald Miller shared the school’s vision for teaching, research and service. The dinner also featured a performance by Neil Boyd, 2008 winner of America’s Got Talent and a 2001 Mizzou graduate.

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(Photos by Shoshana Herndon) 1. Chris Koukola and Jack Smith 2. Amanda Candee, Greg Lind and Jennifer Thomas 3. Neil Boyd 4. Greg Lind, Jerry Daugherty and Jane Rothery 5. Jennifer Thomas, Judith Fitzgerald Miller and Amelia Sherinski 6. Grace Miller, Richard Miller and Donna Otto 7. Charmian Boyle, Ann Covington and Barton Boyle

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ADVERTISING INDEX Alzheimer’s Association.................................. 67 Beckett & Taylor Insurance............................. 23 Boone County National Bank............................2 Cancer Research Center.................................. 25 Central Trust & Investment Company.........40 Chick-fil-A Leadercast....................................... 51 Coil Construction..............................................56 Columbia Country Club................................... 55 Columbia Strength & Conditioning...............28 Columbia Landcare............................................21 Command Security...........................................29 Creative Surroundings....................................... 13 Convention & Visitor’s Bureau....................... 53 D&M Sound...........................................................5 First Midwest Bank............................................17 Gary B. Robinson Jewelers.............................. 25 Hawthorn Bank..................................................68 Image Technologies.............................................3 Inside Columbia’s CEO Subscriptions.............60 Inside Columbia Custom Publishing............... 36 Inside Columbia Subscriptions........................62 Inside Columbia Wine & Food Festival...........18 KT Diamond Jewelers...................................... 55 Landers, Weiss & Forsee.................................48 Landmark Bank....................................................11 Les Bourgeois Vineyards................................. 53 Manor Metal Roofing....................................... 26 MayeCreate.........................................................15 McDonald’s.........................................................62 Merrill Lynch.......................................................49 Miller, Bales & Cunningham........................... 39 Moresource.........................................................29 MU Health Care................................................... 4 Providence Bank................................................ 26 Raymond James Financial Services..............45 Reichmann Pavilion........................................... 55 Sandler Training.................................................. 13 Schuster Financial Services...................... 47, 62 Shelter Office Plaza............................................. 9 Smart Business Products..................................15 Socket...................................................................60 Speaking of Women’s Health.........................58 Steve Twitchell Productions............................56 Stifel Nicholaus.................................................. 24 Suzi Davis Travel................................................ 55 Suit Yourself........................................................58 The Bank of Missouri........................................50 The Callaway Bank............................................ 38 The Commerce Trust Company......................41 The Upper Crust................................................ 55 Tiger Court Reporting.......................................64 UMB Bank...................................................... 6, 46 University Club................................................... 24 Waddell & Reed.................................................64 Wells Fargo Advisors........................................44 Wilkerson & Reynolds.......................... 15,42-43 Williams Keepers..............................................60 64

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PUBLISHER’S NOTE

Service To Atlanta Is A Much-Needed Shot In The Arm

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ayor Bob McDavid’s Essential Air Service subsidy for serving March 2 announcement Columbia. This gesture sent a message to of additional daily flight the U.S. Department of Transportation service to Atlanta was and other airlines that we no longer need a much-needed shot in the arm for federal welfare payments to make our Columbia’s struggling airport. If you’ve airport viable. followed developments at Columbia Regional Airport over the last 20 years, Potential For Growth you’re undoubtedly familiar with the ​Based on the complex statistical analysis common themes that have followed the that airline executives use to evaluate the troubles with Trans States Airlines, Lone potential of a given market, Columbia Star Airlines, the reincarnation of Ozark seems to be in a very promising position. Air Lines and now Delta Air Lines. Before Analysts believe Columbia has the this recent announcement, potential for generating it was easy to be pessimistic 180,000 enplanements a about the airport and year if it can successfully feel as if we’re always just attract air travelers within one day away from losing a 30-mile radius of the city. regular, commercial air This year, projections have service. Thanks to the the airport handling about work of McDavid, City 70,000 enplanements. If Manager Mike Matthes airport officials can attract and businessman Greg a mere fraction of the Steinhoff, the future is travelers using airports looking bright for our local in Kansas City and St. airport. Louis, our numbers would “Now is the ideal ​ be considerably more opportunity appealing to possible A Positive Trend to cultivate suitors. A consultant hired by the relationships and city has an optimistic view focus our efforts of our airport’s future The Right on attracting and recently shared his Demographics at least one other outlook with the 40 in The large percentage of airline to Columbia.” 2020 Committee chaired international students and – Fred Parry by Steinhoff. The most faculty at the University encouraging news is that of Missouri has brought enplanements at Columbia Regional Columbia to the attention of airline Airport have more than doubled in the executives who see big dollar signs in last 10 years. That’s a stark contrast those demographics. Feeding passengers to most small and regional airports in onto international flights is an important this country. Fueling this growth surely objective for airlines and this puts is the introduction of Delta Air Lines’ Columbia ahead of the pack of other reliable air service, on-time flights and regional airports. A record enrollment convenient access to its hub in Memphis. at the university with students from The most compelling evidence may have the Chicago area will also work in been Delta’s decision to give up its federal our favor. Our demographics make us

more appealing to airlines with hubs in Chicago, Dallas and Detroit, in the same way we appeal to Delta and its primary hub in Atlanta.

The Next Step We were fortunate to have had an existing relationship with Delta Air Lines at a time when the carrier was making a strategic move to build up its base in Atlanta. While Delta is impressed with the growth of business coming out of Columbia, it’s still unwise to put all of our eggs in one basket. The fact that Delta is bucking national trends by investing more resources in serving a small, regional airport in the middle of Missouri will undoubtedly show up on the radar of other airlines. We must be ready to capitalize on this attention. Now is the ideal opportunity to cultivate relationships and focus our efforts on attracting at least one other airline to Columbia. Service to major hubs in Dallas or Chicago would appear to be strategically critical in helping business travelers reach destinations to the West. The first order of business is securing an escrow account funded by private and public dollars that will serve as a financial incentive or performance guarantee to other prospective airline partners. Although it seems unlikely that these escrow funds would ever be tapped, airline executives want to see just how confident Columbians are about the viability of air service at Columbia regional. The mayor has assumed the role of quarterback in this important initiative and deserves accolades for his early success. Now is the time for Columbia’s business community to get on the field and bring home another victory. Columbia’s future might just depend on it. spring 2012 I Inside Columbia’s CEO

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CLOSING QUOTES

What Columbia’s Business People And Community Leaders Are Saying “I think the impact is bigger than we know. I think this is something we don’t understand yet and we’re going to learn. It’s a powerful conference with a lot going on and that passion is unmatched.” — Matt Williams, Hawthorn Bank market president, gauging the impact on the city of Mizzou’s move to the SEC

“I have a lot of friends who want to come and visit all of a sudden.” — Hal James, Missouri Credit Union president and CEO, on how Mizzou’s move to the SEC is affecting him

“Someone sent me a note, and it’s so true. It said, ‘Success is not owned. It’s rented, and you have to pay rent every day.’ I live my life like that. I work every day like I’m going to be fired tomorrow.” — Mizzou Head Basketball Coach Frank Haith in an interview with ESPN.com

“Tim and I are both ‘the glass is half full’ type of people, so we’ve spent the majority of our time discussing opportunities. We both see great possibilities ahead for the university.” — Former University of Missouri Interim President Steve Owens on handing over the reins of the system to new President Tim Wolfe

“This gives University of Missouri faculty, staff and students direct and immediate access into the heart of SEC country, and we want our SEC partners to visit mid-Missouri and have the times of their lives — except, of course, on the playing field.” — Columbia Mayor Bob McDavid announcing Columbia Regional Airport’s upcoming direct flight to and from Atlanta

“Surround yourself with bright people. Chart your own course, determine your future … if you don’t, someone will do it for you.” — University of Missouri President Tim Wolfe on what he’s learned in his 30-year business career 66

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Inside Columbia’s ceo OutFront Communications, LLC 47 E. Broadway Columbia, MO 65203

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Profile for Inside Columbia's CEO

Inside Columbia's CEO Spring 2012  

Tim Wolfe steps up to the challenge of running the University of Missouri; we have a candid conversation with local bankers; and an R&D star...

Inside Columbia's CEO Spring 2012  

Tim Wolfe steps up to the challenge of running the University of Missouri; we have a candid conversation with local bankers; and an R&D star...

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