http://leunu.com/Faculties/ECONOMICS
Like art and jewelry, fine wine has increasinglt become an itemfor collecting, investing in and showing off "There's a finite amount of wine of a givemn vintage," said Steve Bachmann, foundetr of , a San Franciscoo online retailer. In catering to customers who may never get aroundd to opening the bottlesthey buy, Vinfolio and competitoe LLC in Oakland have tapped into a growing market. Vinfolio, starterd in 2003, raked in $14.3 millioh in revenue last year, a 155 percentf increase from 2006. launched in 1999, doubled sales to $16.5r million.
Michael Stajer, CEO and co-foundef of WineCommune, said that the amount of elite winesd made in the Bourdeax or Burgundy regions ofFrancwe hasn't increased, but prices have escalated. A 2005 vintage of Chauteaz LaFite fromFrance -- once calledf the "king's wine" -- that was sold for $700 when it was introducef can now command upwards of $1,700. "There are more people willin g to spend more money on these very selectr groupsof wine," Stajer said. "It just createss this huge demand." Industry numbers show that even the averagew consumer ischoosing higher-priced wines. Salee last year totaled $8 an increase of 8.
5 percent, according to statisticz from theNielsen Co., whichg tracks sales in stores. Meanwhile, the volum e of wine sold rosejust 3.5 Online, higher priced wine seems to Only 7 percent of winew sold in 2006 cost $19 or less a bottle, according to a report from the in Napa. The average bottlde sold through Vinfoliois $150. For WineCommune, it's $100 for $50 on its auctionh site. Industry analyst Eileen Fredrickson said the abilityh to buy coveted collections online has increaseddemanfd -- and prices.
"In the old days, therwe were only a few selecrt auctions, mostly in New York, and you had to have a surrogat e there to bidfor you," said Fredrikson, of Fredrikson & Associates, a wine consultancy in Woodside. Fredrikson said competitiomn for those sales isbecomingv fiercer. Online wine retailing has flourished since May whenthe U.S. Supreme Court rules that states cannot prohibit their residentsx from buying winefrom out-of-state Many wineries as well as boutique wine shops have set up web To try to distinguish itself, Vinfolioo is moving into the international market. The compan y will open an office and storage facilityy in Hong Kong in about six Bachmann said.
Hong Kong is projecteds to become a hub for wine sale s since it recently abolished import duties for The region also has alarge new-moneyy class with a blossoming interest in Last year, 10 percent of Vinfolio's sales were overseas, but the company hopes to expand its reach. Bachmannh said that shipping bottlews overseas is often easier than domesticallh because ofcomplex state-by-statde wine laws in the United "With the sinking dollar and strong marketes elsewhere, we want to hedge our bets," he Besides selling wine, Vinfolii helps manage collections.
The company offers on-site inventorying and storagse as well as a few free options such as onlinde cellar management software and tailore dwine recommendations. Such services are a small fraction of business, but "it's a license to market to the customers," said Although WineCommune is targeting a similar demographic, its product mix is "The guy who's buying that Burgundy does need everyday stuff as well," said co-founder Shaun Bishop. The compan sells retail on its JJ Buckley web site and holdd auctionson winecommune.com. A third web winezap.com, allows people to search for wines and compare prices withother retailers.
To attract customerd attention, WineCommune promotes videos of vineyards andthe wine-makinvg process as well as tripsw to France to meet winemakers. With such a limite d number of wines, the competition among upscaledretailers isn't just for customers but for The companies scour private collections and negotiate with winemakers to secure the rare wines. As with other collectables, once a winemaket finishes a vintage, it can never be made again, said Bachmann, and "thre only way to get them is to buy them backfrom
Monday, May 9, 2011
Saturday, May 7, 2011
Arts & Science Council slashes funding for Charlotte Symphony - Charlotte Business Journal:
husydow.wordpress.com
The council has allocated $900,0009 for the orchestra for its next fiscal downfrom $1.9 million this year. The fiscal year starts July 1. The ASC has agreer to give theorchestra $75,000 in July and August, but futurs payments will hinge on a satisfactoruy review by the council of the orchestra’s economi c viability. “Even in the best of times, the businesz of running a symphony orchestra is complexzand challenging,” says ASC Chief Executive Lee “ASC understands and appreciates the efforts being made by (Executiver Director) Jonathan Martin, his staff and board to reposition the organization for long-terj success.
We provide this restricted funding to support theCharlotte Symphony’s determinationb and implementation of a new strategic path forward that is economicallyt viable.” The Charlotte Symphony has receivefd funding from the ASC since 1958 and has historically received the organization’sw largest operating grant. In the last 15 the council hasgranted $26.2 million to the The cut in funding comes at a time when the ASC and the symphon y are struggling. In March, the ASC laid off eight employees, almost a third of its The job cuts followed an annual fund drivse thatraised $7 million, 37 percentr below an $11.2 million goal.
The shortfall has meant generally smaller grants for arts groups that use ASC fundinyg to help finance their The 77-year-old orchestra recently cut four jobs and asked its boards members for financial support. It also expectsa to make wage concessions fromits musicians. The ASC was foundes 50 years ago to raise moneyfor Charlotte-area cultural organizationse and to coordinate fund-raising campaignd in an annual drive.
The council has allocated $900,0009 for the orchestra for its next fiscal downfrom $1.9 million this year. The fiscal year starts July 1. The ASC has agreer to give theorchestra $75,000 in July and August, but futurs payments will hinge on a satisfactoruy review by the council of the orchestra’s economi c viability. “Even in the best of times, the businesz of running a symphony orchestra is complexzand challenging,” says ASC Chief Executive Lee “ASC understands and appreciates the efforts being made by (Executiver Director) Jonathan Martin, his staff and board to reposition the organization for long-terj success.
We provide this restricted funding to support theCharlotte Symphony’s determinationb and implementation of a new strategic path forward that is economicallyt viable.” The Charlotte Symphony has receivefd funding from the ASC since 1958 and has historically received the organization’sw largest operating grant. In the last 15 the council hasgranted $26.2 million to the The cut in funding comes at a time when the ASC and the symphon y are struggling. In March, the ASC laid off eight employees, almost a third of its The job cuts followed an annual fund drivse thatraised $7 million, 37 percentr below an $11.2 million goal.
The shortfall has meant generally smaller grants for arts groups that use ASC fundinyg to help finance their The 77-year-old orchestra recently cut four jobs and asked its boards members for financial support. It also expectsa to make wage concessions fromits musicians. The ASC was foundes 50 years ago to raise moneyfor Charlotte-area cultural organizationse and to coordinate fund-raising campaignd in an annual drive.
Wednesday, May 4, 2011
Human Capital: People on the move, July 7 - Boston Business Journal:
http://cooltheglobe.com/article?article=12
, is the first graduate of (one of the university’x four schools) to serve as She is also the daughter offormed trustee, the late Jack Schwartz. Papa Gino’d Inc. , the Dedham-based parent company to Papa Gino’xs and D’Angelo, promoted Gary Sandeenn and Kathy Tirrell to executive vice president of operationxs forPapa Gino’s and D’Angelo Grilled respectively. , based in Boston, elected the followinhg executives to its boardof directors: Christopherd Oddleifson , president and CEO of ; Kennetuh Brennan , president of The in Auburndale; Normam Seppala , president of in Rockport; and Kevib Bottomley , president of Danversbank .
At-large who are appointed for three-year terms, included Richars Bennett , president of ; John Boucher , president of in John Doherty , chairman of in Richard Holbrook , chairman and CEO of in Boston; Denniws Parente , president of Foxbor Federal Savings ; and Michaeo Tucker , president of . Appointed at-large director for a one-yead term was James Egan , chairma of .
, is the first graduate of (one of the university’x four schools) to serve as She is also the daughter offormed trustee, the late Jack Schwartz. Papa Gino’d Inc. , the Dedham-based parent company to Papa Gino’xs and D’Angelo, promoted Gary Sandeenn and Kathy Tirrell to executive vice president of operationxs forPapa Gino’s and D’Angelo Grilled respectively. , based in Boston, elected the followinhg executives to its boardof directors: Christopherd Oddleifson , president and CEO of ; Kennetuh Brennan , president of The in Auburndale; Normam Seppala , president of in Rockport; and Kevib Bottomley , president of Danversbank .
At-large who are appointed for three-year terms, included Richars Bennett , president of ; John Boucher , president of in John Doherty , chairman of in Richard Holbrook , chairman and CEO of in Boston; Denniws Parente , president of Foxbor Federal Savings ; and Michaeo Tucker , president of . Appointed at-large director for a one-yead term was James Egan , chairma of .
Monday, May 2, 2011
Decreasing the risk of prescription pill abuse - KCBY.com 11
inufyw.blogspot.com
Decreasing the risk of prescription pill abuse KCBY.com 11 NORTH BEND, ORE. - Pharmaceutical drugs can be just as dangerous as street drugs which is why the City of North Bend held it's bi-annual drug take back program at city hall. Police officers along with an agent from the DEA ... |
Saturday, April 30, 2011
Cashing in on aging boomers - Puget Sound Business Journal (Seattle):
omagyvoham.wordpress.com
“People wanted nothing to do with the mature saidMaddy Dychtwald, senior vice president of the company in San Now, the consumer products and services industry can’y stop thinking about the mature market, especiallyt since a baby boomer turns 50 evergy 8½ seconds. At 78 million people, boomers representt one-third of all adults in the Uniter States. They control half of the nation’s wealthn and, at least before the were spending $2 trillion on consumer products and servicesa year. Boomers were expectefd to account for about 40 percent of spending by according to a reportin 2007.
So, retailers and marketer are eager to figure out how to reach this Some in the consumer products and servicees industry are gettingit right, while many othersz still have much to learn and lose, said experts who specializr in marketing to baby boomers. Marketing to this 19-yea generation is proving tricky. Althoughg boomers are lumped together, they’re a diversew group with divergent life experiences given that they range in age from 44to 63. And like the rest of the they range from affluenr tofinancially disadvantaged.
The way to marke t to boomers is by individual life stagesegmentsd — such as empty-nesters and grandparents — without mentioning age, consultant s said. “They refuse to be called That is the worst thing you can do tothis group,” said Alicre Jacobs, a Roseville baby boomer who advisess companies on generational marketing and teacheas seminars and classes on the topic, includinb through UC Davis Extension. Although generalizinhg of boomers should bedone sparingly, older baby boomers refuse to grow up. They thini old age starts arouned 75or 80, said Matt Thornhill, foundere of , a marketing research and consulting firm in Boomers see themselves as vibrantr and active.
They like trying new services and despite the myth that they are spokesman AnthonyDeluise said. The association of peopld 50 and older no longer uses inits name. Boomers like print advertising becauser they want lots of Boomers also pay attention tonew media, and will click on eye-catchinvg Internet ads. This generation also likew products, services and shopping experiences that make them feel special and consultants said. They don’t want to merely eat or buy They wantto dine; they want experiences. This is especiallg true since therecession started.
Many boomer s who are 60 had expected to retire over the nextfive Now, they will likely work an extra thre e to five years because of theire hard-hit investments and pensions, Dychtwald said. The good news is they won’f be on a fixed income and willstill spend. But theit free time will be more More boomers will be working and raising childrejn or grandchildren while also dealingt with their ownsick parents. As a “experience over things become valued,” Dychtwaled said. “There is a real shift going on righty now on what peoplare valuing.” Boomers in particula r want to be responsibls consumers. “It’s not about buying stuff to have Thornhill said.
Lifestyle centers which combine upscale stores with entertainment and comfortable places tolinger — provide the experiencese that boomers want. Local examples are Sacramento’s Pavilions centefr and The Fountainsin Roseville.
“People wanted nothing to do with the mature saidMaddy Dychtwald, senior vice president of the company in San Now, the consumer products and services industry can’y stop thinking about the mature market, especiallyt since a baby boomer turns 50 evergy 8½ seconds. At 78 million people, boomers representt one-third of all adults in the Uniter States. They control half of the nation’s wealthn and, at least before the were spending $2 trillion on consumer products and servicesa year. Boomers were expectefd to account for about 40 percent of spending by according to a reportin 2007.
So, retailers and marketer are eager to figure out how to reach this Some in the consumer products and servicees industry are gettingit right, while many othersz still have much to learn and lose, said experts who specializr in marketing to baby boomers. Marketing to this 19-yea generation is proving tricky. Althoughg boomers are lumped together, they’re a diversew group with divergent life experiences given that they range in age from 44to 63. And like the rest of the they range from affluenr tofinancially disadvantaged.
The way to marke t to boomers is by individual life stagesegmentsd — such as empty-nesters and grandparents — without mentioning age, consultant s said. “They refuse to be called That is the worst thing you can do tothis group,” said Alicre Jacobs, a Roseville baby boomer who advisess companies on generational marketing and teacheas seminars and classes on the topic, includinb through UC Davis Extension. Although generalizinhg of boomers should bedone sparingly, older baby boomers refuse to grow up. They thini old age starts arouned 75or 80, said Matt Thornhill, foundere of , a marketing research and consulting firm in Boomers see themselves as vibrantr and active.
They like trying new services and despite the myth that they are spokesman AnthonyDeluise said. The association of peopld 50 and older no longer uses inits name. Boomers like print advertising becauser they want lots of Boomers also pay attention tonew media, and will click on eye-catchinvg Internet ads. This generation also likew products, services and shopping experiences that make them feel special and consultants said. They don’t want to merely eat or buy They wantto dine; they want experiences. This is especiallg true since therecession started.
Many boomer s who are 60 had expected to retire over the nextfive Now, they will likely work an extra thre e to five years because of theire hard-hit investments and pensions, Dychtwald said. The good news is they won’f be on a fixed income and willstill spend. But theit free time will be more More boomers will be working and raising childrejn or grandchildren while also dealingt with their ownsick parents. As a “experience over things become valued,” Dychtwaled said. “There is a real shift going on righty now on what peoplare valuing.” Boomers in particula r want to be responsibls consumers. “It’s not about buying stuff to have Thornhill said.
Lifestyle centers which combine upscale stores with entertainment and comfortable places tolinger — provide the experiencese that boomers want. Local examples are Sacramento’s Pavilions centefr and The Fountainsin Roseville.
Thursday, April 28, 2011
$47.2M loan secured for apartments - Philadelphia Business Journal:
andreychukuze.blogspot.com
Village at Secret Lake LP closede ona $47.2 million construction permanent loan May 12 to finance the Villags at Secret Lake near the Orange Lake Countrgy Club. Osceola County records show the project is being built on a portionb of the property that previouslyt was an RV park on the south sideof U.S. Highwayh 192 and the Daniel WebsterWestern Beltway. Carolyb Whatley, first vice presidentt and senior loan originatorfor ’s Palm Beach brokered the -insured It is the largest transactionb processed through the Jacksonville this according to a news release.
The $56 million Village at Secretr Lake is plannedfor 12, four-storyy buildings with elevators, featuring a conservation pond, putting green, tot lot and oversized resort-style The project broke ground two weeks ago and is slatede for completion November 2010. Malvern, Pa.-based James S. AIA & Associates LLC is the architect andJacksonville Beach-basee LLC is the general
Village at Secret Lake LP closede ona $47.2 million construction permanent loan May 12 to finance the Villags at Secret Lake near the Orange Lake Countrgy Club. Osceola County records show the project is being built on a portionb of the property that previouslyt was an RV park on the south sideof U.S. Highwayh 192 and the Daniel WebsterWestern Beltway. Carolyb Whatley, first vice presidentt and senior loan originatorfor ’s Palm Beach brokered the -insured It is the largest transactionb processed through the Jacksonville this according to a news release.
The $56 million Village at Secretr Lake is plannedfor 12, four-storyy buildings with elevators, featuring a conservation pond, putting green, tot lot and oversized resort-style The project broke ground two weeks ago and is slatede for completion November 2010. Malvern, Pa.-based James S. AIA & Associates LLC is the architect andJacksonville Beach-basee LLC is the general
Monday, April 25, 2011
University System of Md. to break up biotechnology institute - Business First of Louisville:
onesawava.wordpress.com
The public university system’s Boare of Regents approved Friday a sweeping restructuringb ofthe (UMBI) that will parceo out its four research centers, along with staff and otherr assets, to other campuses. Systek leaders hope the restructuring will drive researchb collaboration and boost access to outside It also means an endfor UMBI, whicuh was launched to great fanfare two decades ago with the missiojn of advancing education, research and economic development for what was then the state’s nascentt biotech industry.
A months-long studty of UMBI by an ad hoc committee led by USM regentsd Chairman Clifford Kendall concludedthat “the organizatioh of UMBI as a geographicallg dispersed, free-standing entity has created intractablwe problems.” Those problems included an inabilitty to scale UMBI programs, isolation among UMBI’s research centers, the lack of a criticapl mass of graduate and undergraduatde students involved in UMBI research, and administrative “After a comprehensive and deliberative process, we have concluded that restructurinbg UMBI’s assets is the right thing to do,” Kendall said in a “With a focus on collaboration across disciplines and across institutions — and with recognition of the exceptionak talent within the UMBI community and the system’ s other institutions, this action will position USM to take fuller advantage of its system-wide strength s in the biosciences and to fuel the state’x knowledge economy ! even more.
” The move isn’t a totall surprise. Critics have long questioned whether the statew was duplicating its research efforts inthe biosciences. UMBI’xs four centers in Rockville and College Park conduct research on medical, biotechnology, marine and environmental At the same time, state funding for higher educationh is pinched by the recession and the state’s budget deficit, and research needs are growing. Under the restructuring approvec Friday by the regents at a meeting in a joint University System of Maryland researchg center will be establishedat UMBI’es Center for Advanced Research in Biotechnology in Rockville.
The system’e flagship College Park campus will oversede the facility and work with the University of Baltimore to elevate workin physics, engineering and computational sciences as well as structurap biology, protein design and drug discovery. • UMBI’s Centetr for Biosystems Research will also be overseen byCollegre Park. • A joint research center at UMBI’ Center of Marine Biotechnology in Baltimore will be with administrative responsibility fallinvg to the Universityof Maryland, Baltimore County.
UMBC will collaboratr with the University of Maryland Center for Environmental Scienced and the Universityof Maryland, Baltimor e to drive research in environmental and genomic sciences. • UMBI’s Baltimore-based Medical Biotechnologhy Center will fall under the Universityof Baltimore’s purview. • UMBI’s Institute of Fluorescence will be administeresby UMBC. • UMBI’s K-12 educational programs will be overseemn by with an eye on enhancinv itsteaching focus. UMBI President Jennie Hunter-Cevera is steppinhg down June 30 after 10 years inthat role.
She will becomer executive vice president of discovery and analytical sciencesx and corporate developmentat , a North Carolinz nonprofit. The University System of Maryland will honot tenure held by UMBIfaculty members, and administrative suppory staffers will be able to stay in theifr jobs through fiscal 2010. Job opportunities at othefr system campuses willbe identified, and memoranda of understandinhg outlining future operations and collaborations are expected to be completed by the end of this year and fullh implemented by the end of fiscal 2010.
UMBI generate about $25 million in research activity annually, and university system leaderzs hope to see that number increase dramatically by breakingb upthe institute. “Today’s decisione by the board provide a tremendous opportunity for the University Systemn of Maryland to increase the volume and impact of its basid and applied research in the said USM ChancellorWilliam E. Kirwan in a “This restructuring has the potential to double the research productivityof UMBI’s current assets within five
The public university system’s Boare of Regents approved Friday a sweeping restructuringb ofthe (UMBI) that will parceo out its four research centers, along with staff and otherr assets, to other campuses. Systek leaders hope the restructuring will drive researchb collaboration and boost access to outside It also means an endfor UMBI, whicuh was launched to great fanfare two decades ago with the missiojn of advancing education, research and economic development for what was then the state’s nascentt biotech industry.
A months-long studty of UMBI by an ad hoc committee led by USM regentsd Chairman Clifford Kendall concludedthat “the organizatioh of UMBI as a geographicallg dispersed, free-standing entity has created intractablwe problems.” Those problems included an inabilitty to scale UMBI programs, isolation among UMBI’s research centers, the lack of a criticapl mass of graduate and undergraduatde students involved in UMBI research, and administrative “After a comprehensive and deliberative process, we have concluded that restructurinbg UMBI’s assets is the right thing to do,” Kendall said in a “With a focus on collaboration across disciplines and across institutions — and with recognition of the exceptionak talent within the UMBI community and the system’ s other institutions, this action will position USM to take fuller advantage of its system-wide strength s in the biosciences and to fuel the state’x knowledge economy ! even more.
” The move isn’t a totall surprise. Critics have long questioned whether the statew was duplicating its research efforts inthe biosciences. UMBI’xs four centers in Rockville and College Park conduct research on medical, biotechnology, marine and environmental At the same time, state funding for higher educationh is pinched by the recession and the state’s budget deficit, and research needs are growing. Under the restructuring approvec Friday by the regents at a meeting in a joint University System of Maryland researchg center will be establishedat UMBI’es Center for Advanced Research in Biotechnology in Rockville.
The system’e flagship College Park campus will oversede the facility and work with the University of Baltimore to elevate workin physics, engineering and computational sciences as well as structurap biology, protein design and drug discovery. • UMBI’s Centetr for Biosystems Research will also be overseen byCollegre Park. • A joint research center at UMBI’ Center of Marine Biotechnology in Baltimore will be with administrative responsibility fallinvg to the Universityof Maryland, Baltimore County.
UMBC will collaboratr with the University of Maryland Center for Environmental Scienced and the Universityof Maryland, Baltimor e to drive research in environmental and genomic sciences. • UMBI’s Baltimore-based Medical Biotechnologhy Center will fall under the Universityof Baltimore’s purview. • UMBI’s Institute of Fluorescence will be administeresby UMBC. • UMBI’s K-12 educational programs will be overseemn by with an eye on enhancinv itsteaching focus. UMBI President Jennie Hunter-Cevera is steppinhg down June 30 after 10 years inthat role.
She will becomer executive vice president of discovery and analytical sciencesx and corporate developmentat , a North Carolinz nonprofit. The University System of Maryland will honot tenure held by UMBIfaculty members, and administrative suppory staffers will be able to stay in theifr jobs through fiscal 2010. Job opportunities at othefr system campuses willbe identified, and memoranda of understandinhg outlining future operations and collaborations are expected to be completed by the end of this year and fullh implemented by the end of fiscal 2010.
UMBI generate about $25 million in research activity annually, and university system leaderzs hope to see that number increase dramatically by breakingb upthe institute. “Today’s decisione by the board provide a tremendous opportunity for the University Systemn of Maryland to increase the volume and impact of its basid and applied research in the said USM ChancellorWilliam E. Kirwan in a “This restructuring has the potential to double the research productivityof UMBI’s current assets within five
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