A bright idea: Business-sponsored lights for bus stops

If a Royal Oak man's plans come to fruition, Taylor would become the first community to employ a novel approach to lighting its school bus stops.

Thomas Wither, 64, convinced the Taylor City Council and the city's school district to sign on to a program that would allow businesses to sponsor solar-powered lights at up to 50 school bus stops. The idea is modeled on the Adopt-A-Highway program that allows businesses and organizations to adopt and maintain sections of roadway in exchange for getting their names attached to road signs.

Under the Adopt-A-Watt program, businesses would pay $2,000 per year to have their names listed as sponsors on signs attached to the light poles, and the Taylor school district would get free lighting at stops that are not lit now.

A solar device would collect energy during the day and store it in batteries for use later. Wither's operation would oversee installation and manage the lights for a 14% fee. Money generated beyond the management and upkeep fees would be returned to the district and city.

Wither, whose two adult sons are working with him on the project, said he hopes installation of the 10-foot, freestanding lights can begin by October, although that depends on convincing businesses to become sponsors.

Wither already plans to expand the program beyond Taylor and has approached officials in Royal Oak and Ferndale.

Robert Bruner, the city manager in Ferndale, said city officials are waiting for Wither to clarify some issues before launching a program there. He said it's unclear how the lights would be used in Ferndale, and they might not necessarily be installed at bus stops.

Meanwhile, officials in Taylor said they are excited about the program's possibilities.

"It's a win-win for the environment," said Taylor city spokesman Dave Gorgon. "I haven't heard any negatives about it whatsoever

Business Buzz

Business Buzz By HANK DANISZEWSKI, FREE PRESS STAFF

HAIR SALOON REVS UP

It's a hair salon for folks who love Harleys and hot rods.

Tom Termeer integrated his passion for all things automotive with the recent opening of Chopped and Lowered Haircutters.

"I'm a gearhead -- I've been spinning wrench on cars since I was 12."

Termeer started cutting hair after high school because of a scarcity of automotive apprenticeships.

He later worked at Accuride and the Sterling truck plant for 15 years while maintaining his collection of cars and motorcycles and attending car shows.

Now he is back to cutting hair and fulfilling his dream of creating a cool hair-cutting place.

"Where else can you go and read Hot Rod magazine, listen to AC/DC and get your hair cut? Nowhere!"

The shop at 1815 Dundas St. E. has a garage theme. Car seats serve as couches for waiting customers and automotive toolboxes hold the trimmers and scissors.

The walls display autographs from Tim Allen, Jay Leno and Elvis Presley's barber.

Termeer has sold off his automotive "toys" to invest in the shop, but he's still a regular at car shows and cruise nights.

He is also looking for three licensed stylists to rent chairs in his shop for $150 a week.

ISP CANADA EXPANDS

ISP Canada Inc. is under new ownership and expanding the services it offers.

After 15 years, Tom Larsen has taken over the business from his brother, Arne.

ISP Canada provides full Internet and IT services for small-and medium-sized businesses. The company's technicians also offer full PC clean-up, repair and upgrades for home and business customers

For rural customers now depending on dial-up Internet service, ISP offers a high-speed wireless service that can greatly improve the speed and quality of Internet access.

ISP also is entering the closed-circuit security camera market. The company now installs and services CCTV systems that can be monitored from anywhere with an Internet connections and deliver e-mail alerts or alarms about intrusions or suspicious activity.

LITTLE GYM WINS BIG AWARD

Ed and Mari Hughes, owners of the Little Gym in north London have been recognized with a President's Circle award from the parent company.

The award was presented at an annual gathering of franchise holders from around the world.

The Little Gym offers a curriculum-based program of gymnastics and dance, and sports skill for children to promote coordination balance and flexibility.

The award recognized quality of classes and curriculum, cleanliness and customer service that has allowed the business to maintain an enrolment of more than 650 students the last year.

The owners purchased the franchise in 2004 after having children of their own and being dissatisfied with the quality of programs available for new parents. They opened a second location in south London in 2008.

The Arizona-based chain has more than 300 locations, including 14 in Canada.

ARCHIE, VERONICA TOASTED

L.A. Mood Comic and Game shop on Dundas St. celebrated the impending marriage of comic book icon Archie. On Wednesday customers got a sample of Grand Marnier strawberry wedding cake prepared by Cakewalkers.

The shop was celebrating the arrival of Archie No. 600, in which the perennial playboy finally proposes to longtime girlfriend Veronica Lodge.

MOBILITY 1ST ROLLS AHEAD

A London company is rolling ahead by solving mobility issues for their customers.

Founded in 2005 by Shawn and Robins Stevens, Mobility 1st Ltd. has opened a new store in Northland Mall.

The Stevenses started the company after facing challenges finding quality, affordable mobility solutions for member of their own family.

Starting out as a home-based business, the company imported scooters and other medical equipment from a Chinese manufacturer.

The company shared a small office space in Ingersoll for a while before moving to Northland Mall in London.

Mobility 1st Ltd. is now the sole Ontario distributor for the Wisking Group and provides wide range of electric scooters, power wheelchairs, manual wheelchairs, and rollators.

Mobility 1st focuses on affordability with prices starting at $139 for a rollator and $995 for a scooter. The store has a licensed Class A mechanic on site to assemble and test all equipment.

Mobility 1st is expanding into bath equipment, accessible ramps, a variety of manual wheelchairs and walkers.

WELLNESS CENTRE OPENS

After five years of working in a home-based counselling practice, Elizabeth Lacey has opened Oakridge Counseling & Wellness Centre.

The full service wellness centre, which combines counselling with stress reduction programs, yoga, and registered massage therapy, has a facility at 759 Hyde Park Rd., Unit 254.

An open house will be held Sept. 16, from 4 p.m. to 8 p.m.

For the last 15 years, Lacey, a social worker/therapist and relationship specialist has worked with individuals, families, and couples in private practice, with Children's Aid, and with Family Services Thames Valley.

The centre offers counselling for individuals and couples, the Mindfulness-Based Stress Reduction Program, registered massage therapy, and yoga classes in their in-house yoga studio led by well-known certified yoga instructor Catherine Heighway, Jennifer Epp, and Colleen Tiltman. For details, visit www.oakridgecounselling.com.

PALIANI GETS TOP STATUS

London dentist Bruno Paliani is designated as an Invisalign Premier Provider, a status achieved by the top 5% of Invisalign practitioners. Invisalign is an orthodontic treatment that straightens teeth using a series of clear aligners. Paliani practices at an office on Fanshawe Park Rd.

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Business Buzz

People in Business:

People in Business: Aug. 24, 2009

Two agents have joined Coldwell Banker.

Janet Greninger, of Soquel, spent 16 years as a real estate agent in Sonoma County. Formerly from Santa Rosa, she worked with Keller Williams. A certified residential specialist, she has the designation of certified distressed property expert to assist in short sale transactions. She was a director for four years with the Santa Rosa chapter of Realtors and volunteered with the American Red Cross for many years.

Pam Holly, of La Selva Beach, previously worked with Sonora Coldwell Banker in Tuolumne County. She is starting her 11th year in real estate.

People in Business publishes announcements of employee promotions and workplace awards for people who work or live in Santa Cruz County. Fax information to Business Desk, Santa Cruz Sentinel at 429-9620 or e-mailfxtradingbusinessnews.blogspot.com/ Please put People in Business' in the subject line; high resolution photos 200 dpi run on a space-available basis. Deadline is noon Wednesday.

Govt urged to establish business incubator centers, technology parks to promote SMEs

Govt urged to establish business incubator centers, technology parks to promote SMEs
ISLAMABAD—President, Islamabad Chamber of Commerce & Industry (ICCI), Mian Shaukat Masud has urged the government to establish business incubator centers and technology parks to spur the growth of SMEs and to promote sustainable economic development in the country
Addressing a meeting of ICCI Sub-Committee on SMEs, President ICCI said that SMEs are considered the engine of economic growth in both developed and developing countries, but SMEs in Pakistan are still unable to achieve their maximum potential due to multiple factors.
He said promotion of SMEs is crucial for Pakistan as they create new jobs, accelerate rural industrialization, contribute significantly to export revenue and strengthen the economy.
Chairman ICCI Sub-Committee on SMEs Muhammad Ilyas said establishment of business incubator centers will accelerate the growth and success of SMEs through an array of business support resources and services including physical space, capital, coaching, common services, and networking connections while the setting up of technology parks would promote the culture of innovation and competitiveness of businesses and knowledge-based institutions in Pakistan.
Mian Shaukat said developed world has obtained excellence in economic growth by setting up business incubators and technology parks to market their indigenous technologies by capturing world market and Pakistan should establish these facilities to emerge as a thriving economy and to integrate itself into the knowledge economy.
He said many African countries have also embarked on projects for the establishment of business incubators and technology parks to promote businesses while emerging economies including Brazil, South Korea, Malaysia, Turkey, Singapore and India have also achieved their economic goals by adopting this technique.
He said government should develop a comprehensive Business Model for this purpose and the main objective of this model should be the development of a sustainable network of incubation-related facilities that would spur the competitiveness and productivity of small and medium enterprises (SMEs).

Forex, yen in calo per ottimismo su ripresa

1 / 1Schermo intero

TOKYO (Reuters) - Lo yen ha registrato un ampio calo nelle battute asiatiche, con l'ottimismo relativo all'economia mondiale che ha determinato negli investitori la ricerca di valute maggiormente legate alla crescita e a più alto rendimento, come ad esempio quelle australiana e neozelandese.

Già da venerdì, sui buoni dato macro Usa e gli ottimistici commenti del presidente della Fed Ben Bernanke, lo yen era stato sulle difensive, dato che valute a basso rendimento come quella giapponese tendono a cedere quando l'azionario sale o dati economici rafforzano le speranze in una ripresa globale.

Alle 7,55 circa l'euro vale 1,4325/28 dollari da 1,4341 della chiusura Usa di venerdì, e 135,92/96 yen da 135,37.

Il cross dollaro/yen si attesta invece a 94,88/91 da 94,38 della chiusura precedente, mentre quello dollaro australiano/yen è a 79,67/71 da 79,10, e il cross dollaro neozelandese/yen vale 65,01/12 da 64,65 della precedente chiusura.

business from South India

Alpari eying 25% business from South India

Cashing in on the Indian currency exchange market, foreign exchange provider Alpari Forex India, a 100 per cent subsidiary of Alpari Forex, United Kingdom, today said the company is hoping to achieve 25 per cent business from their operations in South India.

The company, which started Indian operations in June 2009 will set up 50-100 sub-brokers, as part of increasing their network in Tamil Nadu, Alpari Forex India CEO Pramit Brahmbhatt told reporters here.

"In addition to this, we had planned to appoint 500 'introductory brokers' (IB) within one year," he said.
Stating that the Indian currency exchanges were enjoying a daily turnover of Rs 8,000 crore, Alpari Forex India Head-Sales Praveen Kumar V said the size of the Indian currency exchanges was poised to grow '3-4 times' in future.

He said around 200 IBs would be appointed in the Southern region while 300 would be appointed in the Western region.

He said they would target institutions, retailers and 2,000 individual clients across the region for their operations.

Alpari Forex India, with its presence in 7 countries and 27 offices worldwide, registered a global turnover of $100 billion last year.

Bay Businesses

Bay Businesses Anticipate BART Strike

SAN FRANCISCO -- -- In the restaurant business, preparation is everything. At One Market restaurant in San Francisco, they're prepping for that new menu item: a BART strike.

For restaurant employees living in the East Bay, the restaurant is encouraging car pools.

For diners with 510 or 925 area codes, they're double-checking reservations, and considering a reduced valet charge as extra incentive to cross the Bay Bridge.

Michael Gilpin, general manager of One Market said, "Kitchens have a word they call Mies En Place, it means "in it's place", so before you start your shift and prepare any foods, you have everything you need in its place, and we think of our business in the same way. It's a hundred percent loss if you do nothing. So I keep saying, plan what you can."

University of San Francisco business management professor recommends businesses be assertive at a time like this. Check in with clients and customers and work with them to make sure traffic hassles don't keep them away.

Professor Eugene Muscat said, "Looking at the potential revenue, you might say, why don't you come in the night before? There's a motel that's close by, I'm happy to put you up for the night."

Medical offices might be smart to reach out to scheduled patients and stagger appointments to avoid commute hours.

San Francisco's Stone Clinic has orthopedic patients from all across the country who often stay in hotels. But ironically, Bay Area patients will have the hardest time getting here if gridlock sets in.

Trish Fong, a physical therapist, noted, "Some of them are stressed about just getting in here, especially patients who've just had surgery. It's pretty important they get their therapy so they're going to have to sit through the traffic."

No doubt, a strike will stretch everyone's patience. Sometimes, working from home is an option. But bosses might also consider a car-rental to make carpooling more attractive.

Muscat suggested businesses could offer to pay for a rental car and ask the person who lives the farthest to pick up people along the way.

Another tip from Professor Muscat: If there is a strike, businesses should keep a journal. Log what they're doing, what works, and what doesn't, as they struggle through it. It will come in handy for future traffic disruptions, whether they're natural disasters, or man-made.

Vick Signing Is Risky Business

Real football doesn't begin for three weeks, but the Philadelphia Eagles have already pulled off one incredibly risky play. Or so you'd think after the Eagles announced on Aug. 13 that they had signed Michael Vick to be their backup quarterback.

Vick comes to the Eagles with a ton of baggage. Just last month, National Football League Commissioner Roger Goodell granted conditional reinstatement to the league's once highest-paid player, who had been out of the NFL for two years after serving 18 months in prison for running a dogfighting ring.

No doubt, some Eagles sponsors are wringing their hands about whether that unimpressive résumé could rub off even slightly on their brands. And like most NFL franchises the Eagles have plenty of such sponsors, including Canon (CAJ), Budweiser (ABI.BE), Gatorade (PEP), MasterCard (MA), Staples (SPLS), and US Airways (LCC). In an especially rich deal, NovaCare Rehabilitation years ago bought the naming rights to the team's training facility. The Eagles play in a football palace named Lincoln Financial Field, a deal that is costing the insurer Lincoln National (LNC) nearly $140 million through 2022.

That's a reasonable concern, but probably a needless one. If the history of sports teaches anything, it's that fans don't blame sponsors for the misdeeds of players on the field—mostly because they don't blame the players themselves. At least, not for long.

So far, Eagles sponsors have remained almost totally mute about the team's surprise signing. And what they are saying seems phrased to underscore one point: If you're angry about this, don't be angry at us.

"We have a strong commitment to the Greater Philadelphia region, which includes a long-term agreement with the Philadelphia Eagles for stadium naming rights to Lincoln Financial Field," Lincoln National said in a statement released Friday, Aug. 14. "We have no role in the Eagles operations, including personnel decisions."

10 Missouri businesses

Martinez awards state loans to 10 Missouri businesses

MANCHESTER, Mo. | Ten Missouri businesses have each received $25,000 in low-interest loans through a new state program.

They’re the first recipients of assistance from the Missouri Small-Business Loan Program, which was set up to help companies with no more than five employees. The loans must be repaid in 10 years and have a 3 percent interest rate.

Economic Development Director Linda Martinez stood in for Gov. Jay Nixon at an event Friday announcing the first round of loans.

Nixon tore a calf muscle playing a pickup basketball game Wednesday at his church in Jefferson City. A spokesman says the governor has a brace on his foot and is using crutches.

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ALL BUSINESS

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ALL BUSINESS: What is fair executive pay?

NEW YORK — The scrutiny of executive pay in Washington isn't knocking down the compensation of banks' head honchos. It's just changing what form the money comes in.

Just look at Wells Fargo & Co.'s recently altered pay plan. Earlier this month, the San Francisco bank raised CEO John Stumpf's salary to $5.6 million, through a mix of cash and stock. That's more than six times his salary last year.

The generous bump doesn't violate any rules Wells Fargo is bound by under the Treasury Department's Troubled Asset Relief Program, which doled out $25 billion to the bank last fall to shore up its capital base. That's because the new pay scheme doesn't include a bonus, just a guaranteed higher salary.

But the move stretches what's allowed to its limits. It's that tactic the Obama administration's new pay czar Kenneth Feinberg has to be on the lookout for in the coming months as he reviews the compensation plans of seven companies that have received "exceptional assistance" from the government. Feinberg received the pay information over the last week, and his findings due in October are expected to be a blueprint for pay programs throughout the financial industry.

Wells Fargo isn't one of the companies on Feinberg's to-do list, but it well illustrates the struggle to determine what is "fair" pay in today's corporate world.

"There is no denying that some of these executives have really hard jobs," said J. Robert Brown, a professor of business law and corporate governance at the University of Denver. "But there is another element to all this over what is politically acceptable."

Soaring bonus payouts to financial service company executives tied to short-term results clearly played a role in the financial crisis. In recent years, 80 percent to 90 percent of executive compensation was driven solely by annual performance, according to compensation consultant David Wise of the Hay Group.

That led to excessive risk-taking, which ultimately backfired and resulted in losses so large that the government had to step in with multiple rescue plans.

Congress and the White House have been wrangling over how to shift the compensation paradigm. The House on July 31 voted to prohibit pay and bonus packages that encourage bankers and traders to take risks so big they could bring down the entire economy.

The Obama administration has proposed giving shareholders at all public companies a nonbinding vote on compensation packages. In addition, it wants to diminish management's influence on pay decisions by banning members of board compensation committees from having financial relationships with the company and its executives.

Feinberg is the first federal official to have veto power over the how much private-sector executives are to be compensated. Included in his review are pay plans submitted by American International Group, Citigroup, Bank of America, General Motors, Chrysler and the financing arms of the two automakers.

All this political intervention isn't intended to drag down executive pay to nothing. In fact, financial companies will continue to pay sums to executives that will likely astonish average workers.

The goal is to force companies to come up with compensation programs that better align shareholders' and executives' interests. Getting there won't be easy because there isn't a magic metric for fair pay.

The compensation changes at Wells Fargo shows how deciding what's appropriate can get murky.

Its CEO Stumpf will get $900,000 in cash as part of his 2009 salary, the same as last year. But he will also get another $4.7 million in stock that has been labeled as being part of his salary. Stumpf and three other executives who also got large salary increases can't sell these new shares until the company repays the government's bailout money.

Stumpf will also receive 108,528 in restricted share rights this year, valued at $2.8 million when they were granted earlier this month. Those shares will begin to vest in 2011.

That brings his total compensation in stock and cash at the time it was granted to $8.4 million for 2009. Last year, his total compensation in cash and stock options was valued at about $8.8 million when it was granted.

"We are using stock to increase their salaries to keep the pay of these leaders closely tied to the success of the shareholder," said Wells Fargo spokeswoman Melissa Murray. "We must pay our senior leaders competitively for the long-term success of our company."

But another way of looking at this is that Wells Fargo's top brass are getting guaranteed pay not necessarily tied to financial results. At the end of every two-week payroll period, Stumpf will get a portion of that $4.7 million in stock, with the amount of shares determined by where the stock is trading then. If the stock goes down, he gets more shares; if it goes up, he gets fewer.

That means a short-term drop in Wells Fargo stock could actually benefit the bank's executives. They also benefit from the fact that the stock now trades around $28 each, about a third less than what it was last fall.

"How can this be called a well designed plan because all the executives have to do is sit around in order to get paid?" said Paul Hodgson, a senior research associate at The Corporate Library, an independent corporate governance research firm.

Hay Group's Wise said financial companies that took government money don't have many options in how they can structure their pay programs at a time when there is talk of a potential brain drain of top talent. He believes the amount of compensation won't change much, just the makeup — most likely meaning salaries will grow while bonuses could shrink.

"Wells Fargo is doing exactly what the taxpayers were afraid banks would do, and the Treasury led them there," Wise said.

The coming months will be very telling for the future of executive pay, especially for financial firms. Feinberg's recommendations for the seven firms he reviews will be closely watched, and likely mimicked.

What's becoming ever more apparent is the fine line between allowing for competitive compensation and creating imbalanced incentives.

Rachel Beck is the national business columnist for The Associated Press. Write to her at rbeck(at)ap.org