Mercer survey: Execs take brunt of salary cuts in

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Only 56 percent of executives are expected to see an increas e in base paythis year, compares to more than 70 percent of clerical and technical staffers, according to earlyg figures from Mercer’s 2009/2010 U.S. Compensation Planning Those managers that do geta however, will see a 3.5 percenyt hike versus 3.1 percent for office/clerical/technical Likewise, executives fare worses when it comes to salaryg freezes. Forty-four percent of companies plan to freez e executive salaries in 2009 and 15 percentin 2010. Only 28 percentg plan salary freezesfor office/production/service employees this year, and 11 percen next year.
Pay raises are more likely in the information technology andengineering sectors, while marketing, financd and sales employees are seeing theifr paychecks decline, according to Mercer’ss Market Pulse Report. “While salary increases overall arerelatively low, certain jobs are bucking the trend with increasese nearly twice the rate of the overallp market,” said Susan Haberman, U.S. regional leader for information product solutions. “Organizations are paying more for thess positions since theysupport company-specific Mercer surveyed more than 640 organizations for its Market Pulsse Report, and about 850 for its Compensation Planninv Survey.

K-State names Schulz its president - Kansas City Business Journal:

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“I have a strong appreciation for the criticalo rolethat K-State has to the futurd of the state of Kansas, and it is an honoer for me to lead this great Schulz said in a written statement. Schulz succeeds Jon who served 23 years as president before announcingb his plans to retirein May. “We are fortunate to have Kirk Schulaz as the next president of KansasState University,” said Nelson who served as search committee chair for the . “I am confidentf he will do an excellent job ofleading K-State into the future.” Three finalists were interviewed by the board, Schulz being the first.
However, both Steve Ballard, chancellor of , and Robert Kennedy, president of the , droppee out of the running following theitrespective interviews. Schulz, 45, becomes the 13th president at He was born and raisedd in Virginia and attended for three yearsw before graduating fromin 1984. He has a bachelor’s degreer and a doctorate in chemical engineering.

YRC Worldwide sells HQ to load up more cash - Philadelphia Business Journal:

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But it didn’t go far. A groupp of local investors led by Ken Blockl andSteve Block, principals of Kansa s City real estate firm , bought the Overlands Park headquarters in a sale-leaseback deal that includes a potentiap 30-year lease for YRC. The company did not disclose the price or and Ken Block saidhe couldn’t comment because of a confidentialitt agreement, but a YRC Securities and Exchangs Commission filing suggests the purchasew price was $22.5 million. Johnson County list the property’s appraised valud at close to $25 million.
“The monetization of real estate assets is a part ofYRC Worldwide’s ongoing financialk strategy to weather the (economic) recessioh and enhance its liquidity position,” YRC said in a statementr e-mailed to the Kansas City Business Journal . “The YRC Worldwide corporate headquarters is and will continue to be locatee in theOverland Park, location.” YRC said the deal was part of $176 millio n in property sales and sale-leasebacks completed in the firsty quarter, which ended March 31. But according to the , the deal closedc May 1. The lease has an initial term of 10 plustwo 10-year renewal options, YRC The sale included two buildings, the company said.
Appraiser’z office records list the property as having a total building areaof 295,000 square feet, builrt in 1972, on 21.5 acres. The transactionj appears to be reflectedin YRC’s first-quarte SEC filing as a March 31 officd complex deal for $22.5 million, which minuxs transaction costs equaled $19.8 million. Annual lease payments will be about $3.4 million. However, the assets and long-term debt in the amoun of the proceeds remainon YRC’s balance Half the proceeds went into an escrowq account; the rest were used to pay down YRC’sz credit facility, the filing said.
The price, aboug $76 a square foot, is consistent with that of oldedr Class B office properties in Southern Johnson saidTim Schaffer, executive vice president of . Offices buildings in that area can rangefrom $70 to $160 a squarr foot for Class B-minus throug h Class A space and various tenant situations, he The property never was publicly on the Schaffer said. Other priced factors include the tenant’sd credit, the reuse potential of the risk level, the buildings’ age, the agreed-upon and taxes and operating costs.
“You’ve got to assumew when you’re buying it that you’ve got a good ulteriorr plan in case thatcompany doesn’ty exist at some point during that 30-year Schaffer said. “It speaks to the quality of the location for a group to take that level of The headquarters, which loomsd over Interstate 435 on Roe Avenue, offers “some pretty amazing opportunities that don’t exist anywhere else in a mature environmentt like that,” he said. Analyst David Silver of said YRC’x property sales provide vital liquidity in theshorgt term. Long term, they force YRC to focus on its core holdinges and integrate intoa single, solid company, he said.
YRC seems to be acceptingf low offers, said Silver, who doesn’t own YRC “People that they’re selling to see bloocd in thewater — they’re really taking advantage,” he said. “Three years ago, if they had they would have gotten much better But they’re getting somewhat fair values.” YRC — which posteds a $257.4 million loss in the firsrt quarter — has cut wages in exchange for ownership in the eliminated thousands of jobs, amended bank covenants and beguhn negotiating to defer $120 million in union pension fund payments using real estate as collateral.
With slumpinb freight volumes, the company accelerated the integrationjof subsidiaries, creating excess propertyu and layoffs. In the second quarter, YRC expectsd to do about $200 millionb in sale-leasebacks, Chairman and CEO Bill Zollars said in arecentt presentation. The company plans at leasr $100 million in excess property salezthis year, he said. Analyst Lee Klaskoaw of , who doesn’t own YRC shares, predicted earningw of 2 cents a share for allof 2010. Silver estimatex a return to profitability by the seconfd quarterof 2010.

AEP helping Columbus Foundation

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The foundation and Columbus-based AEP (NYSE:AEP) this week jointlh announced a $200,000 gift from the company, half of which will be used as matching funddson columbusfoundation.org. The foundation last week began matchingy funds at 50 cents on the dollar througu a poolof $400,000 for donora who gave to a list of 20 nonprofitse through its online PowerPhilanthropy tool. That group of “critical need” organizations includea pantries, emergency shelters and basifc needs systems that are struggling with higherd demand andlower support. By the matching funds were more than 90 percent foundation spokeswoman CarolHarmon said.
AEP’xs donation, she said, allows the foundation to continues matching donationsthrough PowerPhilanthropy. Total outside contributions as of late Tuesdayhit $876,964. Betwee matching funds and donor contributions, nearly $1.4 millionb has been raised throughthe campaign. The foundatiobn had been aimingfor $1.2 millionb in pledged and matched funds. • Pantriesx – Broad Street Presbyterian Church, Catholixc Social Services, Clintonville-Beechwold Community Resource s Center, Gladden Community House, Lutheran Sociapl Services of Central Ohio, Native American Indian Center ofCentral Ohio, Neighborhood Services Salvation Army, Westerville Area Resource Ministry.
• Emergenc y shelters – Faith Mission, Homeless Families Foundation, Huckleberrh House Inc., Maryhaven Southeast Inc. (Friends of the Homeless), Volunteersd of America of Greater Ohio, YWCA Columbu s (Family Center), Choices for Victims of Domestic Violence. Basic needs systems – Community Sheltetr Board, Mid-Ohio Foodbank, Ohio Association of Second HarvestFoodbankw (Ohio Benefit Bank).

Funeral directors see families making cost-conscious choices - Business First of Louisville:

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People haven’t stopped dying since the bottom fell out of the stock market. But in some cases, theire loved ones have cut back on what they are spendinhg on funeralsand gravestones. When families come in to make funerak arrangements, they are more likely to want to exploreetheir options, said Jim Ratterman, owner of Revenur has not declined, he but its growth has slowed. Instead of having abour 3 percent growthin 2008, as the companyu had for previous revenue was up 1.5 percen t to 2 percent, he said.
He declinefd to disclose specific revenue Insome cases, families are calling before they come in, shoppingy around to see what a funeral will cost before they decid on a provider, said Grant Embry, presidenr of So far, that cost-consciousness has not had a great impacyt on the company’s revenue, which for 2008 was prettu close to what it was in he said, although the number of funeralsw declined a bit.
Embry also declined to discloserevenuer figures, but he said that revenue in the firstf quarter of 2009 was little changed from a year At , the staff has seen families make choices that save on For instance, Owen Funeralk Homes has had about 5 percent to 7 perceng more cremations during the past 12 months, presidentr and CEO Dave Owen said. Also, families are scheduling shorted visitation sessions or not renting as many funerao cars as they mighthave before. Total saless have remained about the same as thepreviouzs year, he said, but he declined to disclosse specific figures.
Sidney Fogle, executive directord of the , said the funeral home directors he has talked with have had some customera who are more frugal than But he saidthey haven’t seen a majorf decrease in the average price for a which has surprised some of The national average cost of a funeral in 2008 was about $6,200, he said, compare with $6,550 in The state association, based in Frankfort, oversees the , administeree by in Louisville, into which customers can deposit mone to prepay funeral expenses. Deposits into that fund have not decreasedfat all, Fogle said.
“During theswe times, people may hold onto their money a bit and it may be when they see their money shrinkinh alittle bit, they may ‘Hey, I want to go aheaxd and put money aside for my funeral,’ he said. “That may be why we have not seen adecreass there.” Members of the , based in Wis., say their operational such as the costs of caskets, are going up, said publidc relations manager Jessica Koth. But ratheer than passing those increases onto customers, she they’re taking a hit on their bottom Customers also are having more troublew paying for funerals than in bette r times and are asking more often for credir and financing options, she said.
Funeral-related businesses have felt the pinch. sold just as many gravestonees in the first quarter of 2009 as it did in the firsft quarterof 2008, but revenue was down about 10 co-owner Tom Evans said. He declined to disclose revenue figures. People still are marking their graves, but “they’rre not going as big or as fancy as theynormally would,” Evans said. He gets more and more phonre calls from people that he can tell have talkedf about prices with othermonument dealers.

Skills carryover helps startups hone ventures - The Business Journal of Milwaukee:

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Elliott, 45, spent 18 years as a technicalk writer for and community relationsx managerfor . Five yearas ago, however, sensing change with her position at Lucenytwas coming, she Two years later, using $80,000 in persona savings and a credit card, Elliott opened . In the markett for a spring jacket? Shoppers at her store are likelg to find one adornecdwith colorful, buttons and belt loops. What abour baubles? Young ladies on the fencs about getting their ears pierced are sure to be pushed off by a set of tiny cupcake-shaped earrings.
Elliott says she believes that ifmerchandise isn’t different enough to warrant a customers are likely to bypass it as opposec to making a beeline to the cash register. The shop ownefr never read this in a book but knows it byinstincrt – something she honed and learned to trusgt during her days at AT&T and “I am always on the lookout for qualitgy products that are feminine and there also has to be some sort of twist something that’s going to give customerx a little bit more bang for their buck,” says who targets teenagers and womenm interested in versatile apparel, jewelry and “It’s all about knowing your audience, which is something I learnedr back when I was writing operations manuals.
It’s a skilo I now apply to this business.” Elliott, in made it a point to bring her corporat communications background to the table to help maximizes her investment andattract customers. “As Lucent Technologies Columbus Works communityrelations manager, I was in chargde of special events, which means I know how to begihn with a vision and implement every detail,” she “These days, one of my primary methods of gettinvg people through my door revolves around special events, including private shoppinvg parties, girls’ nights out and breakfasf mixers for women business owners in New Albany.
” she offers up her stores for networking and events, even up to the pointr of making the invitations and providing “It’s all stuff I learned how to do when I workesd at my old job,” she says. The idea is to introduced her shop to potential customerxs without breaking thebank – something else Elliotgt picked up at Lucent. “The company encouraged us to manage its departmentall budgets as if the money wasour own. These the money really is my own,” she It’s not uncommon for professionals to take stock of their careers when they see job functionsx consolidated and coworkers losing their jobs becausew ofnumber crunches, as it did for Elliott.
It’s especiallyh difficult when mid-life sneaks up and passiobn for the job gives way to stressand pressure. For a few of thes e people, the answer can be found in saysPierre Daunic, president of . “Io wouldn’t call it common, but givehn the state of the economy, more and more peoplew are considering (self-employment) as an he says. Daunic, whose six-year-old company specializes in cover letter andresumes development, says entrepreneurs who possess certain fundamental skills, including leadership and communications skills, are in the best positiojn to use those talents in meaningfukl ways – even when the startup is unrelated to the caree r that developed those talents.
“For example, I startede out as an Air Force officer, moved into commerciapl construction, and then started teaching at the ,” Daunic “What I do today, in particular, revolvesx around the teaching skills I learned at the academh because I teach clients how tomarkett themselves.” Prior to becomingt a business owner, he stumbled into a high-tecy recruiting career thanks, he says, to the eclecticx skills he gained in the military.

Overhead door firm branches out - bizjournals:

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That was fine for awhile, but president of in Centerville, saw an opportunity for more. Lavinw wanted to branch out froma small, family-owned business, to a company providing a ranged of services from Dayton down to Cincinnati. Since Lavine has been expanding beyond door installatioband repair. This the company has been increasing marketint efforts and branching into the southernOhio market. Lavinde expects these changes to double the size of his compang in the next four Last year, Wayne Overhead had 10 employees. So far this Lavine has doubled his workforce to 20 and is lookinb to hire at leastthree more.
The company outgrew its 4,000-square-foot location on Congressd Park Drive in Centerville last year and moved intoits 7,500-square-foot locatiom on State Route 48. With the increase in employees has come an increaswin revenue. Last year, the company posterd revenue of $1.1 million. Lavine said Wayne Overheacd is on pace to bringbin $1.5 million this year, a 36 percent As a result of the moves he has alreadyg made, Lavine is projecting revenue of $2 million by 2010.
The main sourcwe of growth has been the addition of new serviceds anda cross-trained staff able to perform any of those Some of the new services includ roofing, siding, windows, landscaping, snow removal and home improvementf work. Lavine saw his garage door customers often needed more work done than just theifrgarage doors. Using the garage service as a way to establishu a relationshipwith customers, he added the services as a way to help his customeras and grow his business.
Laviner started a training program that includess classes atthe , trainingg from the manufacturers of the products his company installs, and having workers spend time learninb the different services Wayne Overhead provides. He invests about $15,000 a year in training. “Whe one division is slow and anotheris we’ll do cross-training,” Lavine “When things are slower in say, gutters, we’lkl train the guys in snow removal, salting and chemica l application.” He also recently hired a generakl manager, which gives Lavine more time to run the business whilew the manager works with employeesz on the job so they get hands-oj training.
Wayne Overhead employees have taken courses such as moto r control and hydraulics at to broaden theirskillp sets. The additional training makeas each employeemore versatile, so workerse can handle additional work if something comees up while they are on a job. So an employese can now repair agarage door, fix gutterz and install new Of Wayne Overhead's 10 new four are installers and six are focused on the home improvementf services. But not every garage door installation companuy is diversifying at the same level asWaynee Overhead.
Ted Weaver, vice president of salews and marketingfor Dayton-based , said the company has maintained its focus on residential and commercial garage He said the company expects to be even with last or slightly down, because of the slowdown in new To compensate, Dayton Door Sales has shifted its focus to the replacementg and service market. The 60-employee company goes on about 30 to 50 services callsa day, with a commercial market that stretches from northernj Cincinnati to Lima and west to But for Wayne Overhead, spreading the word aboutf its new services and its new geographic reach boils down to Linda Schoenfeld is the new marketing manager for Wayne Overhead, aftet spending more than 10 years marketinbg a restoration company.
Her task is to get Wayned Overhead’s name in front of area renovatorsand contractors. That task is highlg competitive, as there are more than a dozej overhead door companies in the Dayton including and DaytonDoor Sales. “Wd need to market,” Schoenfeld said. “We not only want to keep our existinh customers, but we want to let them know about ournew We’re not just garage doors.” One way Schoenfeld is gettinb in touch with builders is cold calling to quotes a job. She also is sendint out marketing letters at a cost ofabout $2,500 a year.
In addition to builders and Schoenfeld is reaching out to insurance agents and so they can recommene Wayne Overhead when their clients need somethinh fixed afteran accident.

Chair Shots: WWE SummerSlam a flop - Carroll County Times (blog)

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Wrestling Inc.

Chair Shots: WWE SummerSlam a flop Carroll County Times (blog) The match had some good moments, but ultimately couldn't replicate the magic created last month. A big part of that goes to a lame Los Angeles crowd that was as equ »

Buffalo area jobless rate on rise - Business First of Buffalo:

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Present and future laid-off workers get a helping hand in the recentlhy enacted federalstimulus bill, which lessensd restrictions on unemployment benefits and assists them in keepinv health-care coverage while also making it more Here are several ways that it “There is no longerf a tax on the firstt $2,400 in unemployment benefits,” says John an economist with the state Labor Department’xs Buffalo office. Previously, benefits were taxed 100 percent. the benefit rate was increasedby $25 a week and the number of weeks that benefits can be paid has been extended from 26 to he says.
Unemployment benefits also will continuea 33-weeo expansion, extending the period to 59 weeks. Unemployedf workers also will receive financial help with theirthealth insurance, which wouled be dropped by employers if they lose theire jobs not by Mark Stulmaker, who specializes in employee-benefits law, said this is “by one of the biggest benefits for employees in the stimulusd package. Under the stimulus, the federal government will pay 65 perceng of the health insurance premiums that unemployerd workers pay under theCOBRsA program.
COBRA, which stands for Consolidate d Omnibus BudgetReconciliation Act, lets laid-off workers keep the same healtuh coverage that they had at their old jobs. COBRA is “This subsidy is a prettyy big help to people who otherwisde are lookingat $1,000-a-month premiums for families,” said He represents pension and health-cars funds for the Buffalo firm . The benefit, whichg is available to employees who were laid offaftetr Sept. 1, 2008, will continue through Dec. 31, 2009. “Withouty it, people basically don’t get coverage, because they can’t affored it. This (subsidy) also gives people who didn’tg take COBRA a second chance toget it,” he said.
Workera who didn’t sign up for COBRAz coverage will have an extra 60 days to COBRA gives workers the right to choosr to continue group health benefits provided by their groupp health plan for a limited time undercertain circumstances, includinhg job loss. Under the stimulus package, the COBRwA subsidy is limited to workeres whose incomes are lessthan $125,000 for individuals and $250,000 for couples filing Aside from COBRA assistance, the stimulus prograkm provides only indirect said Robert Doren, managing attorney of ’s Buffalo office.
These come to employeesx in the form of financialk assistance for some of the sectorsx theywork in, such as construction and publicv transportation, where highway and bridge projects will benefit. “Buf that will take a periode of time before itgets there. In my the (stimulus benefit) is all trickle-downb effect, assuming there is any trickle-down at said Doren, who specializes in labor and employment lawfor

Philadelphia Fed reports improvement in manufacturing sector - Triangle Business Journal:

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The Philadelphia Fed said East Coastf manufacturing and production firms reported improvesd numbers for June in terms ofnew orders, productiob activity and shipments. The manufacturers surveyedc by the PhillyFed did, however, report continued cuts in jobs and work The U.S. manufacturing industry ranging from automakers in the Rust to electronics and aviation firmx in Western states such asArizona — have been pinchedr by the pullback in businesss and consumer spending, the credit crunch and reeling real estate markets. The Phillh Fed’s manufacturing index came in atminus 2.2, compared with minuss 22.6 in May.
A score of zero indicates flat The index has been in the negatives range for 18 of the past 19 with September 2008 beingthe exception. The Philly Fed survey queried East Coast manufacturing and industrial firm s but it could indicat theoverall U.S. economy, including in the hard hit couldbe improving.

Dublin, Columbus schools get grants for diesel-cutting - Business First of Buffalo:

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million is headed to Dublin and undedr a second round of state grants aimefd at cutting dieselengine emissions. The on Monday announcerd recipients of the second and final rounx of Diesel EmissionsReduction grants, a $19.8 million programk created in 2008. The first roundx sent nearly $7.3 million to 10 organizations, includinv the , operator of the region’s bus system. In the winners disclosed Monday, Dublin was cleared for $464,658 while the Columbus school system receiveda $918,02o0 grant. Officials from Dublin and the school district told thestatde they’re using the money to replace vehiclesz with lower-emission alternatives.
Dublin plans to replac e eight 1999- or 2000-model short-haul diesel while the school district is using its grant to replacr 15 buses producedin 1990. Projects that receivefd awards are required to put up at leastr 20 percent of the cost inmatching funds. The grant prograk looks specifically at public and private diesel equipment owners in Ohio countie s that fall short of air quality The largest grant among the 16 went to the and to refi four locomotives withnew engines. That Cincinnati-area projecft was awarded $4.6 million.

Shortchanging Cancer Patients - New York Times

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Shortchanging Cancer Patients New York Times He will be contributing regularly to Op-Ed. A patient receiving cancer treatment in Boston in 2008. Care is being rationed because of a dearth of the most effective drugs. Of the 34 generic cancer drugs on the market, as of this month, 14 were in short ... and more »