Notable Properties - Columbia's Premier Business … · 2000-08-31 · Panera Bread Co. ......
28
Volume 16 Issue 15 February 20, 2010 PRST STD U.S. Postage PAID Permit #353 Columbia, MO 6 CBT Q&A Mayoral candidate Jerry Wade cites the budget, economic base expansion among top campaign issues. Historic Downtown Columbia Warren Dalton chronicles some of the city’s oldest buildings in a new book. 14 20 Investment Summit Scott Colbert of Commerce Trust Co. offers an optimistic inancial forecast. See Page 20 SPECIAL SECTION Personal Finance www.columbiabusinesstimes.com $ 1 50 PHOTO BY JENNIFER KETTLER Notable Properties By Dianna Borsi O’Brien John Ott said he was happy to hear that the Berry Building was named to this year’s historical Notable Properties list, but that wasn’t his goal when he set out to bring the old building back to life. Ott renovated the brick warehouse because it made sense inancially — for him and for Columbia. “There’s no question about the economic development advantages of restoring historic buildings,” Ott said. The Berry Building is among nearly two dozen commer- cial buildings named to the list of 120 properties since the City Council’s Historic Preservation Commission started the practice in 1998. The honor acknowledging efforts by owners John and Vicki Ott to bring the declining building back into full com- mercial use highlights what historic renovation can do for a building — and for the community and its economy. So where is the proof that historic renovation helps the economy? Although reports from the state Department of Natural Resources and preservation advocates provide numbers and case histories to back up the argument, the best brick- and-mortar example might be a few blocks from the Berry Building on North Ninth Street: The Blue Note. In 1998, the live music venue was the irst building — and the irst commercial building — named to the city’s list of Notable Properties. Yet, for owner Richard King, such honors aren’t his main concern. In fact, he had to be reminded his building was even on the list. What he does value is the beautiful historic theater that provides an excellent venue for the bands and musicians he brings to Columbia — and the effect such historic renova- tions have on Columbia and its economy. Historic renovation boosts community commerce (continued on Page 16) John and Vicki Ott
Transcript of Notable Properties - Columbia's Premier Business … · 2000-08-31 · Panera Bread Co. ......
Volume 16Issue 15
February 20, 2010
PRST STD
U.S. Postage
PAIDPermit #353
Columbia, MO
6
CBT Q&AMayoral candidate Jerry Wade cites the budget, economic base expansion among top campaign issues.
Historic Downtown ColumbiaWarren Dalton chronicles some of the city’s oldest buildings in a new book. 14
20
Investment SummitScott Colbert of Commerce Trust Co. offers an optimistic inancial forecast.
See Page 20
SPECIAL SECTION
Personal Finance
www.columbiabusinesstimes.com $150
PH
OT
O B
Y J
EN
NIF
ER
KE
TT
LE
R
Notable Properties
By Dianna Borsi O’Brien
John Ott said he was happy to hear that the Berry Building was named to this year’s historical Notable Properties list, but that wasn’t his goal when he set out to bring the old building back to life.
Ott renovated the brick warehouse because it made sense inancially — for him and for Columbia.
“There’s no question about the economic development advantages of restoring historic buildings,” Ott said.
The Berry Building is among nearly two dozen commer-cial buildings named to the list of 120 properties since the City Council’s Historic Preservation Commission started the practice in 1998.
The honor acknowledging efforts by owners John and Vicki Ott to bring the declining building back into full com-mercial use highlights what historic renovation can do for a building — and for the community and its economy.
So where is the proof that historic renovation helps the economy?
Although reports from the state Department of Natural Resources and preservation advocates provide numbers and case histories to back up the argument, the best brick-and-mortar example might be a few blocks from the Berry Building on North Ninth Street: The Blue Note.
In 1998, the live music venue was the irst building — and the irst commercial building — named to the city’s list of Notable Properties.
Yet, for owner Richard King, such honors aren’t his main concern. In fact, he had to be reminded his building was even on the list.
What he does value is the beautiful historic theater that provides an excellent venue for the bands and musicians he brings to Columbia — and the effect such historic renova-tions have on Columbia and its economy.
Historic renovation boosts community commerce
(continued on Page 16)
John and Vicki Ott
2 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
12
5Business ProileColumbia-based Snyder Brace, the only mid-Missouri brace business catering to children
People You Should KnowCasey Corbin, executive director of Sustainable Farms and Communities Inc.
Albright Heating & Air Conditioning ............. 25Beckett & Taylor Agency ............................. 20Boone County National Bank ...................... 28Business Showcase ...................................... 9Carpet One .................................................. 25Central Trust & Investment Co. ................... 13City of Columbia Water & Light ................... 16Columbia Turf & Landscaping ..................... 22Commerce Bank .......................................... 19Delta Systems Group .................................... 8Huber & Associates ..................................... 21KeLani Hair & Day Spa ................................ 18Landmark Bank ............................................. 2Naught Naught Insurance Agency .............. 18Sandler Training ............................................. 9SOCKET ...................................................... 24The Callaway Bank ........................................ 6The Insurance Group ..................................... 4UMB ............................................................ 23US Bank ...................................................... 17West Bend Mutual Insurance ........................ 3Whiskey Wild ............................................... 27White Dog Promotions ................................ 12Wilkerson & Reynolds Wealth Management . 7William Woods University ............................ 26Willie Smith’s Magic Services ...................... 18
ABC Labs .................................................................. 4
APAC ......................................................................... 4
The Bank of Missouri ............................................... 22
Best Buy .................................................................. 24
Bingham’s ................................................................ 14
The Blue Note ...................................................... 1, 16
Bluestem Crafts ....................................................... 15
Boone County National Bank .............................. 4, 15
Boone Tavern .......................................................... 14
The Callaway Bank .................................................. 22
C.J.’s ........................................................................ 15
Columbia College ...................................................... 4
Columbia Daily Tribune...................................... 15, 18
Columbia Farmers’ Market ........................................ 5
Columbia Photo ....................................................... 24
Commerce Bank ........................................... 1, 20, 21
Elk’s Lodge ................................................................ 3
Felini’s Restaurant ................................................... 15
J.C. Penney’s ........................................................... 15
Job Point ................................................................... 4
Kayotea ................................................................... 15
KOPN ...................................................................... 15
Landmark Bank ................................................. 14, 18
Les Bourgeois Winery ............................................. 27
Missouri Symphony Society & Theatre ................... 15
Missouri Theatre Center for the Arts ................. 15, 18
MissouriBusiness.net .............................................. 12
Mojo’s ...................................................................... 16
Newsy.com .............................................................. 13
Oxford HealthCare ..................................................... 4
Panera Bread Co. .................................................... 16
Parkade Center ....................................................... 10
Parker Funeral Home............................................... 15
PS: Gallery ............................................................... 14
REDI ........................................................................ 13
The Rome ................................................................ 14
Roots ’N Blues ’N BBQ Festival .............................. 16
Snyder Brace Inc. ................................................ 2, 12
State Farm Insurance Companies ............................. 4
Stephens College .................................................... 18
Sustainable Farms and Communities Inc.............. 2, 5
Tiger Hotel ............................................................... 16
TimeLine Recruiting ................................................... 4
True/False Film Festival ............................................. 3
Union Paciic Transportation Company ................... 10
Vespa ....................................................................... 14
William Woods University .......................................... 4
Williams-Keepers LLC ............................................... 4
Wilson’s Fitness Center ........................................... 17
YouZeum ................................................................. 10
3 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
The Columbia Business Times is published every other Saturday by The Business Times Co. 2001 Corporate Place, Suite 100, Columbia, Mo 65202. (573) 499-1830.
Copyright The Business Times Co., 2008. All rights reserved. Reproduction or use of any editorial or graphic content without the express written permission of the publisher is prohibited. Third-class postage paid at Columbia, Mo. The annual subscription rate is $39.95 for 26 issues.
OUR MISSION STATEMENT:The Columbia Business Times strives to be Columbia’s leading source for timely and comprehensive news coverage of the local business community. This publication is dedicated to being the most relevant and useful vehicle for the exchange of information and ideas among Columbia’s business professionals.
Writers in this issue: Jacob Barker, Diana Borsi O'Brien, Jennifer Kettler, Roger MeissenColumnists in this issue: Al Germond, Mike Martin, Jonathan Sessions, Bondi Wood
Chris Harrison | General Manager | Ext.1010David Reed | Group Editor | Ext.1013Alisha Moreland | Art DirectorSarah Handelman | Graphic DesignerJennifer Kettler | Photo Editor | 573-529-1789Renea Sapp | Business ManagerCindy Sheridan | Operations ManagerBetsy Bell | Marketing RepresentativeBecky Beul | Marketing RepresentativeJoe Schmitter | Marketing RepresentativeAshley Meyer | Creative Services
(573) 499-1830 | (573) 499-1831 [email protected]
CBT BUSINESS CALENDAR
Feb. 22City Council Work Session
6 p.m., fourth loor conference room, Daniel Boone Building, 701 E. BroadwayThe Council will hear a presentation from the Missouri
Department of Transportation on the proposed Interstate
70 improvements and the Stadium Boulevard interchange
redesign. The Council will also discuss the park trails
master plan, energy demand management, energy loan
and renewable programs and 2011 budget priorities.
23Public Information Meeting for East Columbia Area
Plan
5:30 - 7:30 p.m., Elk’s Lodge, 4747 Elk Park Drive E.All interested or affected residents of Columbia and
Boone County are invited to an informational meeting
with the city and county staffs and planning commis-
sions. The commissions and staff will present the East
Columbia Area Plan draft of environmental and infra-
structure conditions for the area bounded by Interstate
70, U.S. Highway 63, New Haven Road and Rangeline
Road in eastern Boone County. The public will have a
chance to ask questions and give suggestions following
a presentation of the plan’s indings. ECAP is intended to guide growth on Columbia’s eastern edge. A copy of the
draft can be found at www.gocolumbiamo.com/Planning/
EastColumbiaAreaPlan_ECAP.php. For more informa-
tion contact Thad Yonke at 886-4330 or Pat Zenner at
874-7246.
25Chamber of Commerce Legislative Breakfast
7:30 - 9 a.m., Capitol Plaza Hotel, 415 W. McCarty St., Jefferson City
Join other local business leaders in Jefferson City for a
breakfast with Missouri legislators. Rub elbows with state
lawmakers, and tell them what initiatives you would like
to see the General Assembly take up this legislative ses-
sion. Register by Feb. 22. The price is $23 for Chamber
members and $33 for non-members. Call 874-1132 for
more information.
25-28True/False Film Festival
Downtown ColumbiaThe annual ilm festival returns for the seventh year. The four-day party downtown features innovative documenta-
ries and independent ilms all day, with parties, activities and music in between. For non-pass holders, tickets can
be purchased starting Feb. 25 at the corner of Ninth and
Cherry at the old Hall Theatre. For more information, go
to www.truefalse.org.
March 4Chamber of Commerce Agriculture Recognition
Banquet
5:30 - 9 p.m., Elks Lodge, 4747 E. Elk Park DriveIn its 51st year, the Agriculture Recognition Banquet
gives Columbia businesses the chance to meet with
agribusinesses in Boone County. The banquet features
entertainment, networking and the presentation of a
$1,000 agribusiness scholarship to a Boone County high-
school senior. The Agriculturalist of the Year award will
also be presented. Businesses can host a table for four
of their employees and four Boone County agriculturalists
for $200 or a table for two of their employees and two
agriculturalists for $100. For more information call Lexi
Klaus at 817-9114.
4 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
Andrews
Wientge
Sappington
Barnett
Coffey
Nau Hunter
Rothwell
Mann
HiringsOxford HealthCare, which recently expanded to
Boone County and 10 surrounding counties, announced the hiring of Scott Andrews as executive director for its mid-Missouri region. Oxford said it is also hiring nurses, therapists and aides in the service area. Andrews has more than 11 years of home-care experience and is a former board chairman and member of the Missouri Council for In-Home Services and the Missouri Alliance for Home Care.
Suzanne Rothwell is the new director of membership at the Columbia Chamber of Commerce. Her job duties include soliciting new members to the Chamber and retaining current members. Rothwell had been involved with the Chamber as a representative for State Farm Insurance Companies, where she has worked for 13 years, mostly in public relations management.
TimeLine Recruiting, a health care recruiting irm, announced the addition of Rachel Mann and Kevin Wientge as recruiters. Mann previously worked as an admissions recruiter for William Woods University, and Wientge was a sales associate at Alac.
Kerry Mosely, an intern at the Boone County Public Works Department, has been hired full-time at Columbia-based construction irm APAC. A graduate of the Job Point Heavy Highway Construction Program, Mosely was selected for a paid 90-day internship with the county in December.
Analytical Bio-Chemistry Laboratories has recruited John C. Anders to lead the development of a new team of biopharmaceutical experts and a customized laboratory that will offer comprehensive support for large molecule development. Anders brings more than 24 years of expe-rience in biopharmaceutical development from both the sponsor and the Contract Research Organization side of the business.
Columbia College has hired Brian Sappington as assistant director of residential life, Aaron Coffey as the assistant director of graduate and adult admissions and Kelly Enright as the administrative assistant in the mar-keting department. Sappington received an MBA from Columbia and previously worked as the area coordinator for Miller Hall and the Cougar Village apartments. Coffey received an MBA in 2008 and worked in MU’s registration department as a student and after graduation. Enright has 11 years of experience working in a college or university setting, starting with the MU Ofice of Admissions.
PromotionsBoone County National Bank announced that Brittney
McElwaine was promoted to consumer banking represen-tative for the University of Missouri Hospital Bank and
Melissa Beman was promoted to consumer banking repre-sentative for the South County Bank in Ashland.
Williams-Keepers LLC announced the following promotions: Emily Bange, certiied public accountant and certiied valuation analyst, and Jennifer Stuart, CPA, were promoted to supervisor positions. Audit staff members promoted to the senior II level include Nathan
Alexander, Bridget Geisendorfer and Cliff Lewton, CPA. Tax staff members promoted to the senior II level include Rhonda Bowne, CPA, and Jeremy Morris, CPA. Laura
Hagemier was promoted to senior II level. Audit staff members promoted to the senior I level include Brandon
Hendricker, CPA; Brad Langan; Nick Mestres, CPA; and James Samek, CIA. Tax staff members promoted to the senior I level include Jessica Lehmen, CPA, and Megan
Toalson, CPA. Audit staff members promoted to the staff II level include Samantha Crane; Amanda Holman, CPA; and Darrell Wolken, CPA. Tax staff members promoted to the staff II level include Lori Bestgen, CPA; Kelley Frink, CPA; Rebecca Knipp, CPA; and Angela Strube.
Awards
Marie Nau Hunter, manager of the city’s Ofice of Cultural Affairs, won the Missouri Arts Council’s 2010 Missouri Arts Award in the Leadership in the Arts cat-egory. The Missouri Arts Award honors individuals and organizations that have made profound and lasting con-tributions to the cultural and artistic climate of the state. The winners were honored in a ceremony on Feb. 10 at the Capitol Rotunda.
Jahnae H. Barnett, president of William Woods University for the past 20 years, has been named an Icon of Education by Ingram’s, a Kansas City business maga-zine. Barnett was one of nine Missouri and Kansas leaders chosen for the honor. Barnett’s achievements include the introduction of undergraduate and graduate degree pro-grams (including the MBA) for working adults and the transition from a single-sex college to a coeducational university.
State Rep. Chris Kelly, D-Columbia, received an annual award from the Missouri Association of Veterans Organizations. Each year, the organization selects one state senator and one representative who are “the most supportive of veterans’ legislative priorities.”
Retirement
Boone County Treasurer Kay Murray announced that she will retire on Feb. 28 after working for the county for 43 years, including 33 years as treasurer. v
5 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
PEOPLE YOU SHOULD KNOW
Executive Director of Sustainable Farms and Communities Inc.
Casey Corbin
PH
OT
O B
Y J
EN
NIF
ER
KE
TT
LE
R
AGE: 43 ORIGINAL HOMETOWN: Columbus, Ohio
JOB DESCRIPTION: I direct the activities of a nonproit organization that seeks to connect mid-Missourians to local foods and sustainable activities. I also lead the $2.6 million capital campaign to construct the “shovel-ready” Columbia Farmers’ Market Pavilion and Education Center. www.farmersmarketpavilion.org
YEARS LIVED IN COLUMBIA: One year in Columbia. I’m still thawing out after 16 years in Alaska.
EDUCATION: I went to a small private school in Columbus called Franklin University, where I earned a triple major in inance, management and marketing. I then was accepted to the Master of Science in Communications program at Northwestern University’s Medill School of Journalism in Evanston, Ill. It was a program that changed my life and my view on business and interpersonal communications. It was billed as the “anti-MBA.”
COMMUNITY INVOLVEMENT: I am involved in many groups from PedNet to campus initiatives in the areas of health and sustainability. Being new to Columbia, I am still inding places to hang my hat. In the past, I have been a hospice volunteer for more than 18 years. I have served on many boards for theater companies, environmental organizations and served as a photographer for many events such as the American Heart Association Heart Walks, We The People Marches and more.
PROFESSIONAL BACKGROUND: I began my career in nonproit when I was 16 years old. I have a much older brother who is disabled, and one of my irst jobs was raising money for the organization that helped him manage his life. I have also been a nonproit and occasionally for-proit consultant for more than a decade. I write grants, run annual and capital campaigns, develop marketing and communication plans and on one occasion even orchestrated a bank-to-bank acquisition. I have raised more than $50 million dollars in my career for everyone but myself. In Alaska, I specialized in the issues and efforts of the Alaska Native people.
A COLUMBIA BUSINESSPERSON I ADMIRE AND WHY: I am working with an amazing team of local business leaders on my board and steering and advisory committees, but a special place is held in my heart for the farmers of the Columbia Farmers’ Market. They work so hard to be here each Saturday morning and present to thousands of fortunate Columbians the most delicious and nutritious foods imaginable: people such as Dan Kuebler, who has given his heart and soul to this project and the market. These are my heroes! They work the land and feed us each week. Who could ask for more?
WHY I'M PASSIONATE ABOUT MY JOB: At the end of each day, I ask myself if I am doing what I want to be doing. I have always been able to answer yes. I know that my work has made a difference in the communities in which I have lived. I also know that I am usually part of a solution and not the problem.
IF I WEREN'T DOING THIS FOR A LIVING, I WOULD: This is tough. I am not doing this for a living. I like getting a paycheck, but I have always found that money is the easiest thing to make. I always do what I know I should be doing. I make the time to have the things in my life that I value. I especially never allow myself to be complacent or bored. I sleep on average four to ive hours a day. As I always say: I will sleep when I am dead.
BIGGEST CAREER OBSTACLE I'VE OVERCOME AND HOW: For me it has been an issue of learning to harness my spastic and often overbearing personality. My nickname is Tigger for a reason. I know that if I have a week’s worth of work piled up, I can have it done in a day. The challenge is inding enough to keep my mind busy and not expecting everyone else to respond to my e-mails at 3 a.m. simply because I am working.
WHAT PEOPLE SHOULD KNOW ABOUT THIS PROFESSION: Nonproit work is the backbone of our society. At the end of the day, we are the ones who ill in the holes left by progress and so-called eficiencies. We work for the joy of seeing the lives of others made more fulilled. We are not saints, but if you value your own success more than that of others, this is probably not the place for you. We deal in the reality that not everyone will have the myth of an American Dream. We help people to ind their own dreams.
WHAT I DO FOR FUN: I travel. I love road trips — 1.1 million miles and so far no accidents! I hike, bike, do photography, woodworking, write poetry and prose, kayak, dive and learn something new as often as possible. Currently, I am planning on getting a sailing certiicate so I can disappear into the Caribbean when I am ready.
FAMILY: I have two wonderful, loving and obedient children who follow me everywhere. They are my two Alaska Husky sled dogs, Koyuk and Sweetpea, and if you ever meet them, you will understand why they are my children. Amazing!
FAVORITE PLACE IN COLUMBIA: I enjoy the MKT to Katy Trail and all of the parks that Parks and Rec does such an amazing job of maintaining for all of us to enjoy.
ACCOMPLISHMENT I'M MOST PROUD OF: Establishing and managing the largest tribal AmeriCorps program in the U.S. and personally convincing the leadership of the Corporation for National and Community Service to increase their level of commitment to tribal programs as a percentage of their annual budget.
MOST PEOPLE DON'T KNOW THAT I: I have been a professional photographer for more than 15 years and shoot weddings, portraits, events, nature and more. I have had gallery shows from Key West, Fla., to Hawaii and Alaska. I love seeing life through my lens. You can see some of my work at www.caseyrcorbin.com.
e-mail: [email protected]
6 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
CBT Q&A
Wade: “Tough decisions” on city budget, economy facing next mayor
Third Ward City Council Representative Jerry Wade, a retired MU professor and commu-nity development specialist, was the irst candi-date to jump into the mayoral race. Wade made the announcement in September, a month after Mayor Darwin Hindman said he would not seek a sixth term.
Wade, 67, was elected to the Council in 2007 and is giving up the Third Ward seat to run for mayor. In 1995, he was appointed to the city’s Planning and Zoning Commission and served as chairman until he was elected to the Council.
Wade left southern Illinois and came to work at MU in 1979, got his master’s and doc-toral degrees and helped local governments in Missouri and other states develop economic plans and effective means of governance. He and his wife have one daughter and two grandchildren.
Wade holds “ofice hours” at Rendezvous Coffehouse every other Saturday, a practice initi-ated by Third Ward Representative Karl Skala, and is known for taking a measured, studious approach to decision-making.
What are the top three or four issues of your campaign?“The budget: We all know these are dificult times. We have to work to build a city budget that allocates funding for essential services and the programs and amenities that Columbians expect.
We have to make some tough decisions as we have seen our revenue decline.
Economic base expansion: We must continue to expand both the number and types of businesses that bring money into the Columbia economy. The emphasis must be on jobs that make it possible for people to support their families. We must support homegrown enterprises and bring new technology-based companies to town. In fall 2008, I formed a taskforce of educators, business owners and com-munity leaders to assess Columbia’s adult technical training offerings and the kinds of training needed for today’s high-tech companies. Within a year, training geared to match the jobs in existing and emerging companies will be up and running.
Neighborhoods: Strong neighborhoods build a community from the inside out. The building of neighborhood capability must continue. At my request, two programs were formed and are now a regular part of the city’s neighborhood support efforts. The Neighborhood Leadership Program is a training program offered by Columbia’s Neighborhood Services Department. Participants are Columbia residents who want to hone their lead-ership skills as they work to improve their neigh-borhoods. Keys to the City is a series of workshops addressing issues affecting neighborhoods. City staff and neighborhood leaders work together to solve neighborhood problems.
(continued on Page 8)
7 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
ECONOMIC INDEX SUMMARY
(continued on Page 25)
What is the market value of all goods and ser-vices made in the Columbia metropolitan area? Or put another way, what is Columbia metro’s Gross Domestic Product?
The United States has been measuring its GDP since 1947, and the GDP is considered the best single indicator of the health of an economy. The latest estimate of real GDP, the measurement that compensates for the changes in the value of money over time, is $14,463 billion nationally.
Recently the U.S. Bureau of Economic Analysis started measuring the GDP of metro-politan areas, including Columbia.
The BEA said that in 2008, the latest year with complete data, Columbia’s GDP was $6 billion for all industry, and its real GDP, adjusting for inlation, was $5 billion. For just private industry, the GDP in 2008 was $4.2 billion.
Here are some of the categories and output amounts:
• construction, $246 million; • manufacturing, $368 million; • durable goods, $257 million; • nondurable goods, $111 million; • wholesale trade, $235 million; • retail trade, $490 million; • information, $140 million; • inance and insurance, $361 million;• real estate and rental and leasing, $607
million;• professional and technical services, $235
million;• (the biggie) government, $1,886 million.The most illuminating use of the GDP is to
show how it changes over time. The federal gov-ernment announced a few weeks ago that real GDP in the United States increased at an annual rate of 5.7 percent from the third quarter to the
fourth quarter of 2009, up from 2.2 percent from the second to the third quarter.
The GDP of the Columbia area (which includes Boone County and Howard County) increased 3.3 percent from 2007 to 2008 and 34 percent since 2001. Real GDP increased 0.8 per-cent from ’07 to ’08 and 10 percent since 2001, a bit more than 1 percent a year.
Columbia compared favorably with other metro areas when measuring the change over time. The BEA said 60 percent of metropolitan areas saw economic growth slow down or reverse in 2008. Growth in real GDP by met-ropolitan area (more than 50,000 population) slowed from 2 percent in 2007 to 0.8 percent in 2008.
BEA’s prototype statistics on GDP by metro-politan area can be used to answer a variety of questions and also to inform business and policy decisions. The following are some potential questions/decisions that the BEA said the data can address:
• Is a metropolitan area’s economy growing or declining?
• What industries are driving a metropolitan area’s economic growth?
• How does the growth in one metropolitan area’s economy compare with growth
in other metropolitan areas, with the state, with the nation?
• What has been the trend in economic growth over time in a metropolitan area’s
economy?The CBT has signed up for BEA’s newsletters
that contain updates to measurements of metro-politan area economies, and we’ll share the data with our readers. v
How big is Columbia’s economy?
RECEIPTS1% Sales Tax Receipts
November 2009: $1,546,729
November 2008: $1,534,923
Change (#): $11,806
Change (%): 0.8%
Fiscal Year-to-Date 2010:
$3,057,111
Fiscal Year-to-Date 2009:
$3,144,745
Change (#): -$87,634
Change (%): -2.8%
Hotel Tax Receipts
December 2009: $82,863
December 2008: $89,242
Change (#): -$6,379
Change (%): -7.1%
Total 2009: $1,640,317
Total 2008: $1,794,029
Change (#): -$153,710
Change (%): -8.5%
LABOR
Columbia Labor Force
December 2009: 90,909
December 2008: 91,801
Change (#): -892
Change (%): -1.0%
Missouri Labor Force
December 2009: 2,958,153
December 2008: 2,984,635
Change (#): -26,482
Change (%): -0.9%
Columbia Unemployment
December 2009: 5,254
December 2008: 4,254
Change (#): 1,000
Change (%): 23.5%
ECONOMIC INDEX | COLUMBIA'S ECONOMIC INDICATORS
7000
6000
5000
4000
3000
2001
2001
2008
2008
Mil
lio
ns
of
Do
lla
rs
COLUMBIA METRO GDP
Source: U.S. Bureau of Economic Advisors
All Industry
Private Industry
8 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
CBT Q&A Cont. from Page 6
Crime Reduction: Much is already being done. Downtown crime is down signiicantly. The Police Department needs to be able to use its resources for those actions that give the best results
where they are most needed. Reducing crime means more than
police enforcement. We must involve families, schools, churches,
neighborhoods and other community groups in addition to our
police force.”
You've been the swing vote that ensured the passage of several
initiatives backed by the business community. Nevertheless,
based on candidate petitions, leaders of the Chamber of
Commerce and other representatives of the local “business
establishment” are backing Bob McDavid. Why do you think
they haven't openly backed you, and what are you doing to get
votes from the business community?
“I began my mayoral campaign as I did my Council campaign — by going irst to family, neighbors and friends for signatures on the petition. It illed very quickly. Far too much has been made of who signed who’s petition. As a community, we can’t afford a
mayor who represents a special interest group or has an ax or two
to grind. As a councilperson, I have voted on issues after carefully
weighing the facts, listening to the pros and cons, doing my best
to understand the impact of the vote on Columbia and deciding what I believe would be best for Columbians in both the long and short term. As mayor, my approach to issues will not change.”
There’s a perception among some business leaders that the
City Council has gotten too progressive and too tied into Smart
Growth Coalition principles. Do you think the Council in the
past year or so has relected the mood of the public in terms of what development it allows?
“Smart growth principles are a set of good business practices.
They promote quality, sustainability and eficiency. They might not be compatible with the development practices of the 1980s,
but they are appropriate for today and tomorrow. The Council does not allow or deny development. We review proposals that
come before us in the context of existing policy and ordinances.”
In Bob McDavid's answers to the CBT Q&A, he said the City
Council's "vote against security cameras downtown is a discon-
nect with what the people of Columbia want." Briely, what's your position on installing surveillance cameras downtown.
"If surveillance cameras prevented crime, we would have no bank
robberies or convenience store stick-ups. We have and will retain
cameras in parking garages because of their isolated secluded
nature. When (Police) Chief (Ken) Burton says video cameras on Broadway are the best use of the taxpayers’ dollar for crime pre-
vention, then I will vote to install them."
At least one member of the city's energy supply taskforce
believes Columbia can generate the majority of its electricity
through renewable sources after two coal-ired turbines are retired in a few years and the city must increase supply sources.
The city manager and others disagree. Do you think the city
should strive to surpass the renewable energy requirement
approved by voters?
“Yes, of course we should strive to meet and surpass the renew-
able energy requirement approved by voters. Energy needs in the future will be met by a changing mix of energy generation sources
and increased eficiency. The challenge will be to meet our energy demand in the most cost-effective and environmentally sensitive
manner possible.”
Do you think that the mayor and Council members should get
at least a stipend?
“Yes. A stipend will likely broaden the pool of potential candi-
dates to include younger, civic-minded citizens who cannot other-
wise afford the time or expense to serve. I don’t know of any other
city of 100,000 or more that does not pay its council.” v
9 February 20, 2010 Columbia Business Times | ColumbiaBusinessTimes.com
10 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
From the Roundtable
Boonville Bridge deal a costly boondoggle
Citizen Journalist
Iconic sculpture shows artistic side of black history
Al Germond is the host of the "Sunday
Morning Roundtable" every Sunday at 8:15
a.m. on KFRU. al@columbiabusinesstimes.
com
Al Germond
Mike Martin is a Columbia resident and
science journalist [email protected]
Mike Martin
VOICES
Let's salute the Union Paciic Transportation Company for pulling off a really sweet deal with the taxpayers of Missouri. Sweet for UP, anyway — a deal that gets the private, shareholder-owned company a railroad bridge across the Osage River worth millions of dollars in return for giving up the unusable Boonville Bridge.
More trumpets, please, and a special shout-out to Boonville for pulling off its own sweet deal — for a dollar. After luring a casino to the riverfront a while back, the little town deftly lassoed that elephantine hulk of a railroad bridge spanning the Mighty Missouri. I’ll bet that someday Boonville will rue forking over 100 pennies to purchase that rusty, obsolescent hunk of steel. Any takers?
Finally, our sympathies go to the U.S. Coast Guard for failing to have the span removed as a hazard to navigation as it should have been years ago.
The boggling sum of enhancement to UP is impressive: $23 million. But there's a multiplier depending on who's counting. This sudden stroke of public largesse conveniently upsets a previous arrangement that would have used private capital to dismantle and recycle the center span of the antique structure and loat it downstream to double-track and span the UP mainline across the Osage River. Scarce
federal funds allocated to Missouri for rail-road improvement projects statewide will end up largely squandered on a single item — an expenditure that would have been unnecessary if the state stuck with the solution arranged sev-eral years ago.
Of course, the larger issue these days is getting the state's fragile economy back on track. It's tiresome watching dollars thrown around helter-skelter for what are essentially short-term projects providing temporary employment and often requiring special-ized skills. A sign (what did that cost?) at the northwest corner of College Avenue and East Walnut Street trumpets sidewalk improve-ments costing one-ifth of a million dollars. It's incredible that the labor and materials could cost that much, but apparently they do. Thank you, Davis-Bacon Act of 1931.
Ideally, the jobs we really need should be permanent and well-paying. If there's anything we need to pay attention to, it's retaining and enhancing the tens of thousands of positions in our area that provide the economic fuel that keeps the inancial ires raging.
We all speak — somewhat tiresomely, I might add — of economic development and echo a chorus heard 'round the world. It's unlikely Columbia will ever score another large factory or large manufacturing operation, but
the area's touts remain strong centered on the celebrated employer base of the University of Missouri, two colleges, medicine, insurance, research, government, contracting, construction and retail, which places us well for recovery and future gains.
The cautionary tale the Boonville Bridge deal provides for both Columbia and Boone County is that we must avoid questionable, inancially draining "investments" and entanglements with outdated artifacts such as deactivated railroad bridges. For a dollar, what used to be a head-ache for Union Paciic is now Boonville's to fret over. Good luck!
One wishes them well as they arrange to paint and otherwise repair and maintain this old beast the city will develop as a “tourist attraction.” It bafles me how the ramps and approaches will be arranged. And I view as guesses-gone-wild the prediction that legions of old bridge enthusiasts looding from all over will bring sales and lodging tax increases. Could wildly optimistic inancial projections derived from Boonville's old bridge project challenge the demonstrably wacky projec-tions for Columbia's grossly under-performing YouZeum? To both of these undertakings, we wish you only our very best. v
When Parkade Center Manager Ben Gakinya asked me to write about what black history means to me for a mall collage in honor of Black History Month, Mary McLeod Bethune — who overcame her parents’ slavery to establish an all-black women’s college and become one of the country’s greatest educators — came to mind.
Remembering Bethune reminds us that black history in the United States isn’t just about struggle.
It’s also about triumph, particularly the lourishing of ideas, culture, art, science and education that marked a decades-long interlude between slavery and segregation. The Harlem Renaissance exploded onto the American scene, and a larger Black Renaissance nationwide gave America doctors, lawyers, preachers, teachers, painters, writers, politicians, philosophers and educators where enslaved ield hands had stood before.
Immortalizing that period — from about 1870 to 1930 — became the life’s work of sculptor Isaac Scott Hathaway, who left a mas-terpiece at Douglass High School in Columbia: a bronzed ceramic bust of the abolitionist Frederick Douglass.
Hathaway sculpted dozens of black leaders with exquisite care. His sculpture reminds of that intellectual and spiritual renaissance and the way it lighted for subsequent generations, one of which would include America’s irst black president.
Chosen callingLegend has it that 9-year-old Isaac was
touring a Cincinnati museum with his father in 1883 when he discovered a terrible truth: Black history didn’t exist.
“I was looking for a statue of Frederick Douglass,” Hathaway told his father. “My teacher said only the truly great are perpetuated in stone and bronze, and Frederick Douglass was a great man.”
“That may be,” his father said. “But we'll have to grow our own sculptors.”
Working feverishly to grow into that role, Hathaway studied at the New England Conservatory and eventually graduated from his irst art studio — a converted chicken coop — to important and fascinating commissions.
In 1904, Kentucky attorney William Marshall Bullitt, who went on to become U.S. attorney general, hired Hathaway, a Lexington, Ky., native, to create the largest plaster crime scene model ever used in a court of law up to that time.
Eight years later, the Smithsonian Institution’s National Museum hired Hathaway as its oficial sculptor. Pathe, the black-and-white movie newsreel company, captured Hathaway molding a reproduction of the human fetal brain and advertised the ilm as “the irst motion picture of a black professional at work.”
Through the Isaac Hathaway Afro Art Company, he hand-produced limited edi-tion busts of prominent African Americans. At the height of Hathaway’s fame, President Harry S. Truman commissioned Hathaway to create 50-cent coins “commemorating the life and perpetuating the ideas of educator Booker T. Washington and scientist George Washington Carver.”
Today, Hathaway sculptures memorialize prominent African Americans such as NAACP founder W.E.B DuBois, poet Paul Laurence Dunbar and Bethune in the Isaac Hathaway Art Institute at the University of Arkansas,
Pine Bluff and the Isaac Scott Hathaway Museum in Lexington.
Back to schoolAs a 2005 school board candidate, I vis-
ited once-segregated Douglass High School, where principal Brian Gaub showed me what he called “one of the nation's oldest pieces of African-American art.”
I hadn’t heard of Hathaway, but I instantly recognized something special — a nearly 3-foot tall, masterfully detailed bust of Douglass that had been in the building “for as long as anyone could remember,” Gaub said.
We carefully moved the glass display case away from the wall and saw the inscription: “Isaac Hathaway, 1918” and — the interna-tional copyright symbol.
Frederick Douglass High school was built in 1916 when Hathaway was teaching in nearby Arkansas, but how the bust — one of only three he made — ended up in Columbia remains a mystery.
To conirm its authenticity, I sent pictures to Pennsylvania State University African-American art expert Joyce Henri Robinson; Howard University art history Professor Tritobia Hayes Benjamin; and Henri Linton, curator of the Hathaway Museum at the University of Arkansas, Pine Bluff.
“It was probably commissioned by someone connected to the high school,” Linton told me. Hathaway biographer Odelia Walker sums up the great artist’s life: “Sculpture records the deeds of nations and individuals. Isaac Hathaway understood this and created for us a heroic record of distinguished African Americans. In the process, he left a legacy for and about all races.” v
11 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
Laura Turner has had one of her four daugh-ters in Columbia Public Schools for the past 16 years. With her youngest two daughters cur-rently attending Hickman High School, Turner has two years left in her relationship with the school system. Although she is a hands-on mom and perennial parent volunteer, she was unaware of the upcoming bond issue and is struggling with whether to support it.
“I thought we already voted on the new high school,” Turner said, echoing the concerns of many voters who didn’t fully understand the three-pronged nature of the 2007 bond issue.
The current 2010 bond issue reigures and combines what were to have been the second and third parts of a three-part bond, the irst of which successfully passed in 2007. The upcoming $120 million bond will appear on the April 6 municipal ballot.
According to Columbia Public Schools Superintendent Chris Belcher, the bulk of the money will be spent on the new high school in the northeast edge of the city, a potential new elementary school and major repairs and main-tenance to the system’s oldest schools.
“Virtually every building will be touched by this proposal,” Belcher said. “Right now, when it rains in Columbia, it is leaking all over the district.” New roofs, and the warranties that come with them, are a high priority for Belcher. “Why would we want to put new technology or equipment in rooms that leak? Fix the roofs irst.”
In addition to roof repairs, other main-tenance projects include upgrading HVAC systems, installing air condi-tioning at schools still without it and adding auxiliary gyms at Rock Bridge and Hickman.
“We are working toward main-taining equity among the schools through upkeep,” said School Board Vice-President Tom Rose, who is also chair of the board’s Finance and Long-Range Facility Planning committees.
In addition to asking for bricks and mortar, the district is also reconiguring the grade levels and attendance areas of some schools. However, the recon-iguration can only work if Columbia has three rather than two high schools. “To pull this off, we have to build a third high school,” Rose said.
The new coniguration will not change the grade levels attending Columbia’s elementary schools. However, the three current middle schools will become “intermediate schools,” as will the three junior highs. So there will be six intermediate schools for grades six, seven and eight. The six intermediate schools will then feed the three high schools that will house students in grades nine through 12.
Feedback from parents, said Belcher, speaks directly to the reorganization plan. “Parents want fewer transitions among schools,” he said. Rose conirmed and added that the six intermediate schools will also decrease current overcrowding in the middle and junior high schools.
The best news for mid-Missouri voters is that the April bond issue does not require any new taxation but is a continuation of the current tax. “Instead of paying off our debit service earlier, we’ll be paying it off later,” Belcher said.
Like Turner, new home owners Kris and Blair Mitchell vote regularly and generally sup-port school bond issues but were unaware of the April bond issue. Although they don’t have children yet, Blair Mitchell said neighborhood schools were an important factor in where they decided to build their new home.
“One of the reasons we built where we did is due to the quality of the schools,” she said. “It is very important to us.”
Upon learning that the new bond issue would not raise taxes, Blair Mitchell said: “If a bond issue raises taxes to help schools, I am generally open to it. If the money is promised but not followed through with, I’m less likely to be supportive of the raise on future issues.”
Both Rose and Belcher are adamant that the current plan saves signiicant amounts of money from the previously pitched three-phase plan. “We’re going to save 5 percent on the architects’ fees alone by having them do all
the work at once rather than in three phases,” Belcher said.
“It just makes more sense to build a building all at once,” Belcher said. “The cost of moving and removing equipment, put-ting up and tearing down walls, changes in inishes over the years.” The board estimates a savings of at least $7.5 million.
According to Belcher, the new high school will be completed 30
months after the April 2010 election and ready for students by fall 2013. With the construction occurring all at once, so will the reconigura-tion, also in fall 2013.
Belcher said the grade reconiguration, especially for the high schools, will save parents the hassle of having a ninth-grader attending a junior high but involved in activi-ties at a high school.
Building the new high school should also help reduce the number of trailers huddled around Columbia’s school buildings, according to Rose, and will reduce that number from the current 164 to around 110, maybe fewer. “Right now 20 percent of our students are receiving their education in trailers,” Belcher said.
Belcher is conident the bond issue will pass, and anticipated high voter turnout in April’s election improves its chances. The open seat for the Columbia mayoral race will draw more voters than in most years. Rose, too, believes that people will vote for this proposal, as it is basically what they approved before.
“The main thing to be aware of is the con-tinuation of what voters fully supported three years ago, which was a reconiguration of the secondary grade system and a new high school,” Rose said.
Although wary of the bond issue, Turner concluded, “I guess I’ll vote for it as long as I don’t have to give them any more money.” v
Reprinted from Columbia Home & Lifestyle
Guest Column
Columbia school bond issue on April's municipal ballot
VOICES
We want to hear your feedback. The CBT welcomes letters about candidates in local
elections. We'll pick the best offerings and print them on this page in the March issues.
Send your letters to [email protected].
Interested voters may access the following resources to
gather more information on the bond issue:
• www.columbia.k12.mo.us: You can sign up for the free electronic newsletter, “Key News,” for the latest district news and event information. Click on “Key News” on the district’s home page to register.• If anyone has questions, comments or would like a representative from the school to meet with you or a civic group regarding the bond issues, contact the main board ofice at 214-3400, or contact the Community Relations Ofice at 214-3960.
10 things you need to know about this bond issue1. It won’t raise your taxes.
2. It reduces the number of transitions among
schools from four to three.
3. The number of trailers will decrease from 164 to
110, potentially fewer.
4. It puts a priority on upgrading old buildings and
works toward equity among all buildings.
5. Elementary school will be for grades K – 5, inter-
mediate school for 6 – 8 and high school for 9 – 12.
6. The new high school and all the grade configu-
rations will occur in fall 2013.
7. Auxiliary gymnasiums will be added to Rock
Bridge and Hickman.
8. All schools will be equipped with air
conditioning.
9. Another elementary school might be built.
10. Some new technology will be purchased.
Bondi Wood is a business owner,
freelance writer, and Democratic
candidate for Boone County Presiding
Commissioner. [email protected]
Bondi Wood
12 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
BUSINESS PROFILE
Pediatric brace specialist establishes orthotic businessBy Roger Meissen From MissouriBusiness.net
Samuel Fender lashed a big smile at orthotist Lynne Snyder as she itted the 4-year-old with new leg braces decorated with race cars. Samuel's quadriplegic cere-bral palsy causes contractures that, without braces, could shorten his muscles to the point that he would need surgery.
Snyder creates orthotic leg and body braces for children such as Samuel. She started her Columbia-based business last June because she saw a need and an opportunity.
"A lot of the children's families were trav-eling outside the area to receive their braces, and traveling in this dificult economy just wasn't really an option," Snyder said.
Snyder Brace Inc. is the only brace busi-ness in mid-Missouri that caters to children, she said.
"I was terriied having never really owned or ran a business of my own before," she said. "I know my business, but I didn't know business."
Snyder turned to University of Missouri Extension's Small Business and Technology Development Centers for help.
"Having someone partner with me — with the resources and expertise to make it a reality — was a lifesaver," she said.
MU Business Development Specialist Virgil Woolridge counseled Snyder on leasing her ofice, helped with her business plan and was just a phone call away when new hurdles presented themselves.
"We know that starting a business is a risky venture, so people like Lynne have to go in with all the information possible to make the right decision," Woolridge said. "My job is not to tell someone to go into business or not go into business but rather to sit down with each person, analyze the situation and let them make the decision."
Woolridge noted that 80 percent of new job growth in Missouri comes from small businesses and said that the hard economic times can offer opportunities for business.
"A lot of the data indicates that a downturn like this can be a very good time to start a business," he said. "Particularly if you are an individual who lost your job or was laid off, this might be an excellent time to actually start your business."
SBTDC specialists serve clients throughout the state and provide counseling at no charge to new and existing businesses. The centers also offer workshops in different areas for a small fee.
For Snyder, the rewards go beyond getting her business off to a solid start."Taking (children) who would not otherwise be able to stand and helping them walk is amazing,"
she said. "I know children who ice skate, who roller skate and, without the braces, would otherwise not have that opportunity. Seeing the tears of joy in their eyes and parents' eyes is why I do this."
Because of her entrepreneurial success, Snyder's irm was among 19 small businesses from around the state that participated in the Missouri SBTDC/PTAC Client Showcase on Jan. 27 in Jefferson City. Successful entrepreneurs told state legislators of their irms' contributions to Missouri's economic and job development. v
Roger Meissen is a senior information specialist for the MU Extension Cooperative Media Group.
Ph
oto
s co
urt
esy
of
mis
sou
rib
usi
nes
s.n
et
Lynne Snyder watches Grace Fender as she tests some adjustments to her braces.
Shelly Fender plays with her son Samuel, who just got itted for new braces that help control deformities resulting from cerebral palsy.
13 Feb
ruary 20, 2010 Co
lum
bia B
usin
ess Tim
es | Colum
biaB
usinessTimes.com
Tech Sessions » Jonathan Sessions
Columbia perfect for Google broadband test market
In the summer of 2008, not long after Business Week named Columbia the best small city in Missouri for startup businesses, Jim Spencer moved Newsy.com to Columbia in a partner-ship with the University of Missouri.
"We want to show that Missouri is open for business,” Spencer said, “and that you can move your company here and compete effectively on the global stage." Providing an information service via the Internet, Spencer was able to locate the ofices around the corner from the Reynolds Journalism Institute and the MU School of Journalism.
On Feb. 10, Google announced it will soon be entering the Internet service provider market. Google is planning an experimental iber-to-the-home network in one or more trial locations across the country. Google has made a Request for Information to interested municipalities so it can ind out more about potential communities. The company will use this information to determine where to build its network.
Google's plan is to create open, ultra-high-speed broadband networks that will provide speeds of more than one gigabit per second, somewhere between
50 to 100 times faster than Internet speeds currently available in this area. Google has also stated it will make this an "open access network" and allow other
businesses to provide ser-vices, which gives clients more choice and promotes competition. As Google experiments and discovers new ways to get iber into homes, it will share the knowledge with the world. The plan is to "experiment with new ways to make the Web better and faster for everyone."
The network Google proposes offers much more
than the ability to download "a high-deinition, full-length feature ilm in less than ive minutes." There are great economic opportunities related to data and information distribution at this speed.
University entities like MU Extension and the Reynolds Journalism Institute could change the ways we learn and create, aggregate and distribute new media. Our medical facilities could develop new remote-treatment systems not available at current access speeds, and small businesses would be able to compete on an international scale with ease.
In December, Keith Politte, manager of the RJI Technology Testing Center, co-coordinated a REDI and RJI-facilitated community summit to discuss economic opportunity as it relates to new media. In Google's announcement, Politte sees many "economic opportu-nities related to new media, education, MU extension, research and business startups."
The excitement has already spawned discussions among REDI, the university and the city of Columbia. Politte proposed the parties meet again to put together a proposal for Google to consider. This includes a public request for Columbians to "submit their top ive reasons why Google should choose Columbia for ultra-high-speed Internet." Politte would like to see "rationales from everybody." Lists should be sent to Keith Politte at [email protected] or City Economic Development Director Mike Brooks at [email protected].
Columbia has a great opportunity. This town is poised on the forefront of a new information-based economy, and we have a critical mass of elements that make Columbia the perfect place for an experiment of this nature. Please take the time to learn more about Google's announcement, about how ultra-high-speed Internet will improve Columbia, and contact your community leaders to ask how you can help. www.google.com/appserve/iberri/. v
Google is planning an
experimental fiber-to-the-home
network in one or more trial
locations across the country.
803-809 E. BroadwayExchange National Bank/Landmark BankThe first Exchange National Bank was built in 1866 and replaced in 1904 by a larger four-story building. The heirs of C.C. Bowling sold the bank in 1964 to Carl Landrum, and the name was changed in 1971 to First National Bank and again in 2009 to Landmark Bank.
825 E. BroadwayMiller Shoe Co./VespaThe building now housing the Vespa scooter shop was built in 1880 and occupied by Miller Shoe Co., a business C.B. Miller started when he was 18. In 1911, Hatton & Knight Drug Shop moved into part of the building and operated until 1973. Jean Prange Intimates later occupied the building.
811 E. WalnutAthens Hotel/Boone Tavern The hotel was built in 1902 and replaced a livery stable and a marble yard. Other businesses at the address included Johnson & Son Furniture Exchange and the Daniel Boone Tavern, established in 1917. Renamed the Columbian in 1919 and Ben Holt Hotel in the 1940s, the hotel closed in 1976, and the building was converted to The Village Square Apartments in 1982.
812 E. BroadwayHays Hardware/PS: GalleryThe building dates back to 1870 and is now occupied by PS: Gallery. In 1883 there was a piano store on the first floor and a billiard room on the second. In 1904, Charles Matthews moved his hardware store, previously run by his father, from 710 Broadway into the building at 812. In 1923, Kirk Hays purchased the store, which featured a pot-belly stove in the center, and it operated until 1969.
827 E. BroadwayVictor Barth Clothing/Bingham’sMoses Barth moved his business to Columbia in 1865 after his general store in Rocheport was burned down by Civil War guerillas. His nephews, Victor and Joseph, took over the store in 1868, and Victor bought out his brother in 1906. Cousins Joseph and Isadore Barth (founder of the Round Table Club) built a new building on the same corner in 1910 and named it after Victor, who died the previous year. Longtime employee Joseph Hourigan took a half interest in the business after Victor died and full interest after Joseph died. Barth’s closed in 1987, and Bingham’s took its place.
PH
OT
OS
PR
OV
IDE
D B
Y D
AV
ID J
AM
ES
Chronicling downtown commerce throughhistoricbuildings
In the winter of 1937, when Warren Dalton was a sophomore at MU, tuition was $50 a semester, and a typical lunch cost 35 cents (a nickel more got you a Coke.)
But the going wage was only 35 cents an hour, and Dalton had just lost his job at a shoe store because business was slow, and he had no money for books, rent and food. He was eating cheese and crackers and losing weight when he walked into J.C. Penney’s in the Hetzler Building at 706 E. Broadway.
“Mr. Roy Houdersheldt, the manager, hired me in the shoe department in February,” Dalton wrote in a book he co-authored, Historic Downtown Columbia. “What a blessing it was!”
Commerce in those now-historic downtown buildings was, of course, quite different during Dalton’s college years.
The Hetzler Building is now an annex of the Boone County National Bank. Down Broadway, the Piggly Wiggly grocery store occupied the building now housing Felini’s Restaurant. In his senior year, L.D Johnston Paint and Wallpaper took over the part of the same building that now houses C.J.’s restaurant. A block farther west, the post office was in the (Ann) Gentry Building, named after the state’s first “postmistress,” which now houses the city’s Parks and Recreation Department.
On the corner of Walnut and 10th, Paul McKay, “one of the best-dressed men of his day,” opened McKay Chevrolet in 1937 in the space that was taken over by Parker Funeral Home in 1951.
“A lot of these buildings have special meaning for me,” Dalton, now 92, said. “I lived a lot of the history.”
After serving in the Navy during World War II, Dalton was transferred in 1946 from a women’s clothing store in Marshall to Columbia to manage Suzanne’s, billed as “Columbia’s Smartest Shop for Women.” The building at 912 E. Broadway is now home to Kayotea.
He now owns the Dalton Building at 915 E. Broadway, longtime home of KOPN and former home
of the Columbia Daily Tribune when it was called the Whittle Building, and he co-owns the Booth Building at 922 E. Broadway that now houses Poppy.
About four years ago, Dalton came across an old abstract of downtown Columbia, which piqued his interest in Columbia history. He started writing a column on local history for the Columbia Daily Tribune and as time progressed he got interested in historic buildings. He asked himself, “Wouldn’t it be wonderful if we can get pictures of all of the old buildings, the ones more than 100 years old?” He guessed there would be about 20.
“There turned out to be more than 50,” Dalton said. Using city directories, he started listing businesses that occupied the buildings during the past century. Then he struck up a partnership with David James, a retired professor of hotel management at MU.
James, who previously wrote a book on historic hotels in Missouri, helped with the research, gathered photographs and other material for the book and designed the layout. They lined up sponsors and benefactors to help defray costs and agreed to give proceeds from sales of the $30 book and accompanying DVD to the Missouri Symphony Society & Theatre.
The first 200 copies sold during a book signing in three hours, Dalton said, and the 500 copies from the second printing came just before another book signing on Jan. 18 at the Missouri Theatre.
“People are hungry for history,” Dalton said. “They want to know about their own relatives, but they also want to know about where they live. There is a real surge of people wanting to know where they came from, what happened in their grandfather’s lifetime.”
Dalton, who earned his living in retail, can still make the pitch.
“Every business owner downtown should have (a copy of the book) to show their customers.” y
By David Reed
825 E. BroadwayMiller Shoe Co./VespaThe building now housing the Vespa scooter shop was built in 1880 and occupied by Miller Shoe Co., a business C.B. Miller started when he was 18. In 1911, Hatton & Knight Drug Shop moved into part of the building and operated until 1973. Jean Prange Intimates later occupied the building.
112 S. NinthColumbia Auto/The Rome restaurantFred Niedermeyer built the Columbia Auto Co. sometime prior to 1916. It was the first auto dealership in town. In 1936, Piggly Wiggly moved in, to be followed in later years by Columbia Billiards and current oc-cupant, The Rome.
827 E. BroadwayVictor Barth Clothing/Bingham’sMoses Barth moved his business to Columbia in 1865 after his general store in Rocheport was burned down by Civil War guerillas. His nephews, Victor and Joseph, took over the store in 1868, and Victor bought out his brother in 1906. Cousins Joseph and Isadore Barth (founder of the Round Table Club) built a new building on the same corner in 1910 and named it after Victor, who died the previous year. Longtime employee Joseph Hourigan took a half interest in the business after Victor died and full interest after Joseph died. Barth’s closed in 1987, and Bingham’s took its place.
Want to buy our book? Pick one up at one of two Ninth Street locations downtown: The Missouri Theatre or Bluestem Crafts.
Warren Dalton
16February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
Notable buildings ... continuedfromPage1
First Things First“I love beautiful old theaters,” said King, not-
ing that he’d had his eye on that building long before he bought it in March 1990 and moved The Blue Note from its Business Loop location to downtown Columbia. “Let’s face it; they’re not making them (buildings) like that anymore.” King also owns Mojo’s and is in charge of book-ing and production for the annual Roots ’N Blues ’N BBQ Festival.
The former “Varsity Theatre” built in the 1930s was originally one of three theaters on Ninth Street. Only two remain as public venues for entertainment. The other, the Hall Theatre, now houses the restaurant Panera.
But although he loves the beauty and grace of the building, King also acknowledges the dol-lars his business pumps into the local economy, especially into the downtown business sector.
“If I can bring 600, 700 or 800 people down-town for a show, and they visit downtown res-taurants, shops and spend a few bucks, that makes the downtown stronger,” King said.
But downtown Columbia isn’t the only sec-tor of the business community that beneits from historic renovations. According to a 2001 report published by the Missouri Department of
Natural Resources, historic renovations pump money into a wide variety of economic sectors from providing construction jobs to agriculture, transportation and manufacturing.
The report, “Economic Impacts of Historic Preservation in Missouri,” noted that historic rehabilitation provides more employment per dollar than new construction and even more per dollar than other economic activities such as book publishing, aircraft machinery production, chemical production and electronic component production.
Meters Mean Money
Ott, who renovated the Berry Building, said you only have to look at the increase in the num-ber of utility meters or the upswing in utility us-age to see the beneits of renovating a building.
The Berry Building was among seven prop-erties named to the Notable Properties at a gala event on Feb. 2 held by the City of Columbia Council’s Historic Preservation Commission. The event was held in the Tiger Hotel, another building on the list and another property reno-vated by Ott, this one with business associates Dave Baugher and Al Germond, who own the Columbia Business Times.
When Ott bought the property a few years back, it had about four utility meters. Today it has nearly two dozen utility meters that will put money into the city’s coffers when utility pay-ments are made.
Ott said the Berry Building, a former grocery warehouse built in the 1920s, was in tough shape when he began renovating it. A previous owner
The former “Varsity Theatre” built
in the 1930s was originally one of
three theaters on Ninth Street.
PH
OT
OS
PR
OV
IDE
D B
Y D
AV
ID J
AM
ES
17February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
had put a metal sheathing under the original roof to catch leaks and had it draining out a window when he acquired the building. Today, it shines with new paint and energy-eficient windows. It houses Wilson’s Fitness Center on its lower level
and has openings for retails shops at the street level and 12 luxury lofts on the upper levels.
Ott said the Notable Property designation provides an opportunity to make Columbians aware of the local treasures and to tell the story about the building.
John M. Nowell III and his sister Faye Nowell are descendents of one of the past owners of the building; they attended the event at which the Berry Building was named a Notable Property.
Although some question whether bringing a building back to form is cost-effective, Ott, owner of Alley A Realty, said renovation saves the city and citizens money in the long run. New construction is less costly in terms of building but costs the community more in terms of infra-structure, the requirement for more roads, water mains, sewers and utilities.
Renovation is “green,” or ecologically sound, Ott points out. It saves the cost of the energy it would require to tear down the building and the cost of the energy it would take to build a new building. Another cost that often isn’t reckoned when it comes to building new is the cost of
shipping and transporting the materials, which are saved when a building is renovated.
Renovation contributes to jobs in construc-tion and businesses that support renovation. Once the building is back in shape and shelter-
ing businesses, it gives a return to the commu-nity in terms of sales-tax revenues and property-tax revenues.
But what about those tax credits renovators secure? Ott noted such assistance helps make renovation economically possible, but there are restrictions, and the assistance only provides a state tax rebate of 25 cents on each dollar spent on eligible expenses. That means some expens-es, which are not eligible, must be born by the building owner.
Assistance such as rebates on taxes can end up being more than returned to state coffers in terms of economic beneits, according to the DNR report on the economic impact of historic rehabilitation.
But even if dollars and cents aren’t the criteria, Historic Preservation Commission Chairman Brian Treece pointed out another ben-eit to Columbia and its business community: “We’re all the beneiciaries of historic preserva-tion when we eat at a nice restaurant and look at the historic ceiling” and when we walk down-
City mapping Notable Properties onlineBy Dianna Borsi O’Brien
Wonder if there is a Notable Property in your neighborhood? Interested in inding a building in Columbia eligible for redevelopment?
By fall 2011, you’ll be able to ind out with the click of a mouse.
The City Council’s Historic Preservation Commission recently received a federal grant of $3,660, which it plans to use to create an online, interactive map. The city will match the funds with $2,440 for a total project cost of $6,100.
This map will allow viewers to see where all 120 Notable Properties are located, see a photo of the building, ind information on the properties and even create a walking or driving tour to see the buildings.
The online map also will help developers ind properties older than 50 years of age within a geographic region that might be eligible for tax credit programs, said Brian Treece, chairman of the commission. “St. Louis has a similar geographic information system that allows developers to spatially search for inventory online,” he said.
The map also will allow the Historic Preservation Commission to see what areas of the city have been overlooked in terms of acknowledging the city’s historic resources.
The grant was awarded by the state and will be administered through the Department of Natural Resources State Historical Preservation Ofice. v
Previous page photosTop: Berry building, historicMiddle: Berry building, currentBottom: The Blue Note formerly the Varsity Building
(continued on Page 18)
New construction is less costly in terms of building but costs the
community more in terms of infrastructure, the requirement for more
roads, water mains, sewers and utilities.
18February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
town by the historic buildings. It also helps people remember their history. Treece noted that the renovation of the Berry Building, which was once lanked by a railroad spur, reminds us that at one time all goods arrived in Columbia via train, not the highway.
Yet Treece is also a busi-nessman; he’s a partner in a marketing irm headquar-tered in Jefferson City. He knows that it isn’t enough to have nice scenery.
In an e-mail, he said the majority of the development downtown has not been due to new construction but to historic renovation. “People can count on one hand the number of new build-ings that have been built (downtown): two law of-ices, three parking garages, the Methodist church annex and City Hall.”
Then Treece said: “Nearly all of the private investment in downtown has been through his-toric preservation and renovation on Broadway, Ninth Street, the North Central area, Missouri Theatre, Gentry Building, Howard Building, Stephens renovations, etc. That investment should be incentivized and protected.”
Treece, head of the city’s Historic Preservation Commission, said he’d like to see a day when the historic properties of Columbia make it a gateway or destination city, a place where
people come just to enjoy the historic, scenic gems of Columbia.
Again, this could mean money for Columbia’s econ-omy. The DNR report noted “heritage” travel is becom-ing increasingly important and represented 10 percent of all Missouri travel from 1995 to 1999. The report also noted such travel injects “imported” income into the state’s coffers, money from those who live outside of Missouri. The report said, “Missouri is rich in historic and other interesting sites, which are the core motiva-tions for heritage travel.”
But here in Columbia, business owners such as King and Ott have made it possible for us to do our “heritage” travel by simply walking down Ninth Street and around the corner to Walnut Street. v
Between and betwixt: Rezoning vs. historical preservationByDianna Borsi O’Brien
The debate over rezoning a leafy 23-acre oasis near Interstate 70, the Business Loop and the city Municipal Power Plant demonstrates how the values of landowners and historical preservationists can conlict.
Last summer, the landowners asked the city to rezone the land from residential to industrial zoning. They asked for a postponement in January, and the City Council now is scheduled to consider the request on May 3.
At issue is land owned by the trust of Juliet Bowling Rollins, the wife of the grandson of the University of Missouri’s founder, James S. Rollins, and two descendents of Juliet Bowling Rollins.
When the matter irst came before the City Council, city staff raised no objections. However, in September the Council’s Historic Preservation Commission stepped forward and noted the historical signiicance of the site. Since then the commission has developed a 21-page report outlining the importance of the land.
Brian Treece, head of the Historic Preservation Commission, hopes to present the report to City Council to explain the multitude of reasons why the land should not be rezoned and should be preserved. The rezoning designation requested would have no restrictions and thus would allow anything from auto salvage yards to strip clubs.
Treece is a pragmatist, however, and the report includes more than sentimental reasons for preserving the land. Noting the possible future construction of an I-70 interchange in the area, the report says that preserving the land as a green space could create a “gateway,” to the city’s historic and arts district.
The commission’s report also includes a lengthy outline of the land and the two homes’ connection to some of the leading names in the history of Columbia: “There are no surviving properties that represent the unique history, culture and remaining vestiges of the McAlester-Bowling-Rollins families and their successors.” The report also points out that the land itself has been undisturbed for more than 180 years, which makes it an “archeological treasure.”
As for the owners and their interests, a spokesperson for Landmark Bank, a trustee of the Juliet Bowling Rollins Trust, has been quoted in the Columbia Daily Tribune as saying the rezoning was requested to protect the landowners inancially if the city or state were to take the land by eminent domain.
For now, like the land, the matter awaits spring. v
Notable buildings ... continuedfromPage17
Treece, head of the city’s
Historic Preservation
Commission, said he’d
like to see a day when
the historic properties
of Columbia make it a
gateway or destination
city, a place where people
come just to enjoy the
historic, scenic gems of
Columbia.
19February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
Year Named Notable Property Name Property Owner(s) (at nomination) Notable Property Address Year Built
1998 The Blue Note, formerly "The Varsity Theatre" Richard and Patty King 17 N. Ninth St.
1998 Tucker’s Jewelry Building 823-825 E. Broadway pre-1883
2000 Stephens Publishing Building Pasta Factory 1020 E. Broadway 1892
2000 Tiger Hotel John Ott, Dave Baugher, Al Germond 23 S. Eighth St. 1928
2001 Central Dairy Building Downtown Appliance 1104 E. Broadway 1927
2001 Hall Theatre Building Panera Bread Co. 102 S. Ninth St.
2001 Samuel H. and Isabel Smith Elkins House Koonse Glass Co. 300 N. 10th St.
2002 Miller Shoe Store 800 block of East Broadway
2002 Virginia Building 111 S. Ninth St.
2003 Guitar Building 28 N. Eight St.
2003 Hamilton Brown Shoe Factory 1123 Wilkes Blvd.
2003 McKinney Building 411-413 E. Broadway
2004 Wabash Arms Building Boone Tavern 821 E. Walnut St. 1902
2005 Columbia Country Club and Clubhouse Board of Columbia Country Club 2210 Columbia Country Drive 1921
2005 Heibel-March Drug Store Central Missouri Community Action/City of Columbia 900-902 Range Line St. 1910
2006 Schockley, Thomason, Hall, Funk & Crump Building Patrick Eng, Matthew Woods and Scott Orr Law Ofices 903 E. Ash St.
2007 Uptown Market Building Ha LLC 315 N. Eighth St.
2008 Belvedere Building 206 Hitt St.
2008 Beverly Building 211 Hitt St.
2009 Dumas Building Jack K. Richardson, owner; Joe & Linda Doles, managers 413 Hitt St. 1916
2009 Highway Building Rajo Enterprises 900 Old 63 North 1928
2010 Berry Building John Ott Walnut & Orr 1924
2000 Missouri Theatre (nonproit) Missouri Symphony Society 203 S. Ninth St. 1928
2002 State Teachers Association Building (nonproit) 407 S. Sixth St.
2007 St. Francis House (nonproit) St. Francis House Charitable Trust 901 N. Rangeline
2009 Missouri Press Association (nonproit) 802 Locust St. late 1920s
Notable Commercial Buildings
The City Council's Historic Preservation Commission has selected 22 commercial buildings and four buildings owned by nonproit organizations for the Notable Properties list.
20February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
SPECIAL SECTION | PeRSONAL FINANCe
Scott Colbert of the Commerce Trust Company said the commercial property market will be the "next shoe to drop."
Experts like developing marketsInflation risk? Minimal. Double-dip recession? Forget about it.
ByJacob Barker
Local business executives heard a guardedly optimistic economic forecast during the annual Investment Summit at Reynolds Alumni Center hosted by the Commerce Trust Co.
“When I was standing at the podium last year, I would have guessed the recession would have been twice as deep,” said Scott Colbert, the chief economist and director of ixed income at the trust company, a division of Commerce Bank.
Colbert cautioned that the recovery is still fragile. The private sector’s growth during the past two quarters was largely fueled by the government’s deicit spending, he said, and the real question is whether the pace will be sustained. There will be no “whirlwind recovery,” Colbert said, but rather a “gradual recovery.”
“I see no chance of a double-dip recession in this country,” he said, dismissing predictions by some analysts that the nation is heading for a second round of declining growth.
Colbert also diverged from conventional beliefs that the Federal Reserve will begin to raise inter-est rates before the end of the year to stave off inlation. He said high unemployment, low housing prices and subdued bank lending should keep inlation and the interest rate in check.
“Although some people are saying the Fed will raise rates as early as June, I’d say it will be closer to two years than six months,” Colbert said.
There is still a tremendous amount of slack in the economy, Colbert said, as well as “cash on the sidelines that will start to be put to work.” Loans for speculative projects will continue to be hard to come by, but strong companies won’t lack inancing, he said. He expects the housing and auto mar-kets to begin to pick up, but he warned that it could be seven to eight years before vacant commercial properties are illed and building resumes.
“This commercial real estate market will continue to be a drag for years and years and years,” Colbert said.
Commerce’s Director of Equity Management Joseph Williams pointed to a rebound in consumer conidence since its March 2009 low but said the stock market is likely a bit overvalued right now, and there’s a lot of cash that could still be invested.
“The market just needs some time for earnings to catch up,” Williams said.Overall, Williams stressed that investors need to diversify their portfolios to include assets from
developing economies such as China, India and Brazil. Emerging economies are contributing a larg-er share of world growth as their middle classes grow and their governments improve infrastruc-ture. Plus, with a mounting federal debt in the U.S., the dollar will likely decline in the long term, he said, and that will add to the potential of foreign investments.
Williams said U.S. companies that contribute to infrastructure development in emerging coun-tries will be strong, and he cited Caterpillar as an example. He also said raw materials will be in
PH
OT
OS
BY
JE
NN
IFE
R K
ET
TLE
R
21February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
SPECIAL SECTION | PeRSONAL FINANCe
Grading the investment advisorByDavid Reed
It’s becoming an annual migration. During the irst week of February, a Who’s Who of the Columbia business community locks to the Reynolds Alumni Center at MU to hear the annual predictions of Scott Colbert, the chief economist for Commerce Bank.
So, how have his forecasts fared, in retrospect?
Last year at this time, the CBT checked on Colbert’s 2008 predictions and stock tips.
He said the country was entering a recession, which was true, but he didn’t expect the downturn to be as steep as it was. As for his stock picks, Cisco fell from close to $25 a share to about $15.60 a year later. Sallie Mae fell from $20 to $11.25, Microsoft dropped from $29 to about $18, and Ge plummeted from $35 to $11.50.
Last February, he said his “best guesses” were that the stock market had hit bottom and the economy would rebound in July. He nearly nailed the irst part. The stock market hit bottom the following month — March 2009. He said the chance that the country would enter a mild depression was very low, about 20 percent. Correct again.
Colbert recommended against “jumping in (the stock market) with both feet” but told audience members that he believed there were stocks worth investing in. His advice was to invest in municipal and corporate bonds, and he listed a few stocks he liked, including General electric (again), Hewlett Packard and Visa.
If you acted on his tips last year, you would have made money. Ge fell to $5.73 in March ’09, but on Feb. 9 of this year, the day of Colbert’s appearance, it was up to $15.53. Hewlett Packard? Up from a low of $25 to $53. Visa? $57 to $83. And what if you held onto the stocks he picked in February 2008? When the markets closed Feb. 9, Cisco was selling at $23.89 and recently hit a 52-week high that equaled its value in February 2008. Same goes for Microsoft, which closed at $28 and was recently up to $31.50. (Of course, most investors would have made money during the past year if they made their picks by throwing darts at the market page.)
So, what about the current predictions from Colbert and colleague Joseph Williams, the director of equity management at Commerce?
There will be a gradual recovery, with no chance of a second downturn and no signiicant hike in inlation or the interest rate for at least six months.
The stock market is “a bit overvalued right now,” Williams said. But investments in developing countries such as China, India and Brazil are pretty good bets. So are companies that help build infrastructure in those countries, such as Caterpillar, maker of big work machines (CAT, $53 a share), and health care companies.
Once again, they like Visa. And once again, if these predictions are close to correct, count on the local investors to return to the Reynolds Alumni Center next February. v
high demand as the emerging world continues its growth, as will natural gas and other en-ergy sources.
Williams gave good marks to Visa, which will beneit as consumers move more to debit cards and away from cash. There are also plenty of op-portunities now in health care stocks, which were getting battered by a push for health care reform that has stalled, Williams said.
There were few questions from the more than 100 attend-ees at the event, but the pre-sentation’s optimistic tone was generally well received.
Georgia Morehouse, 76, said she felt the presentation was on target and doesn’t ex-pect to make any big changes to her portfolio. She generally rides out her investments and doesn’t panic and sell, she said. But even so, “They were far more optimistic than I have felt for a while.” v
Attendees of the Investment Summit examine economic charts.
22February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
SPECIAL SECTION | PeRSONAL FINANCe
Banks encourage young customers to saveByJacob Barker
Since The Callaway Bank started The Kids Bank in 1993, Director Debbie LaRue has seen its original members grow up and, in some cases, become business owners. And most are still The Callaway Bank customers.
“One of them told me just the other day that he has a little girl now, a 1-year-old, and she has her Kids Bank account already,” said LaRue, the bank’s vice president for marketing and public relations.
The importance of saving and inancial planning at a young age is now forefront in many people’s minds, she said. The Kids Bank now has around 2,000 accounts.
“For years, I’ve heard parents say, ‘I wish I had done this as a kid,’” LaRue said.
The Kids Bank encourages children under age 12 to start saving early by giving them reward points for deposits that they can cash in for gift cards to local businesses. The children begin developing a relation-ship with the bank by meeting their tellers face to face, which for many requires a special staircase so they can see over the teller’s desk.
“It’s important they understand this is their bank and they’re welcome to come in,” LaRue said. By the time they’re 16 and looking to buy their irst car, they feel comfortable coming in and asking for a loan, she said.
The Kids Bank also has programs for those older than age 12. For the past four years, the bank has held an investment class for teenagers. The teens are taught the importance of researching investments, choose stocks to follow and build a mock portfolio. A state-wide competition picks the best young investors, and The Callaway Bank has sent three teams to St. Louis
for a banquet at A.G. Edwards since the program start-ed, LaRue said.
The bank also reaches out to local schools and has high-school classes on inance and business tour the bank and meet loan oficers and even the bank presi-dent, LaRue said.
“Oh my, the questions just go,” LaRue said. “We never have enough time.”
She said right now the bank is working with a Fulton elementary school to get bank representatives into the classrooms and teach some of the basics about saving and how banks work.
The Bank of Missouri, on the other hand, is trying to tap into a market that has been relatively untouched — 22- to 35-year-olds.
The bank’s Young Professionals of Columbia pro-gram gives those fresh out of college or new to their careers more than just attractive account options. In addition, it sponsors forums and events for network-ing among members and the top dogs of the Columbia business community.
“There’s several other ways to network with oth-er young professionals in Columbia,” said Program Director Mark Claypole. “But there’s not that many ways to meet inluential people.”
After members expressed a desire to meet business people “at the top of the ladder,” Claypole said the bank began sponsoring “Breakfasts with CEOs.” Local heavy-hitters such as Mike Alden and Jake Halliday have participated in the breakfasts, Claypole said.
Ultimately the program encourages prudent per-sonal inance by providing a high-yield savings ac-count to members without the $10,000 minimum balance requirement. The only catch: Members are required to put at least $25 a month into the account. In addition, the bank encourages members to build up an emergency fund that could cover three months of expenses, Claypole said.
Since the group started about two years ago, the number of members has grown to around 50 as the group’s existence has spread by word-of-mouth, Claypole said.
“I think we’re just trying to position ourselves to be a trusted inancial adviser,” he said.
The group holds seminars on subjects ranging from the basics of investing to basic budgeting to network-ing techniques. Members also have access to bank services such as Small Business Administration loan advice, which several have utilized, Claypole said.
The bank recently ramped up its promotion of the program. Now events are no longer just networking sessions with other members. They are often driven by member questions, he said. For instance, there was a session last year on the irst-time homebuyer tax credit.
“What it comes down to is people always have questions about inance and budgeting,” Claypole said. “So when those questions arise, we want to be available.” v
The teens are taught the importance of
researching investments, choose stocks
to follow and build a mock portfolio.
24February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
ByDavid Reed
Columbia Photo’s operators hoped that by moving to a small-er, cheaper location with higher visibility last April, they would manage to turn around a niche business that’s been particularly vulnerable to online commerce and technological advances.
It didn’t work. Columbia Photo announced Wednesday that it is closing in April — one year after the move downtown and 42 years after the business started.
“We’ve been operating at a loss for several years,” Vice President Patrick Marks said. Even with a reduction in expenses in the past three quarters, sales weren’t high enough to generate a proit, he said. “There’s just much more competition online.”
The store, which now has seven full-time employees and four part-timers, provides a variety of photography equip-ment and related services. The location at 111 S. Ninth St. will stay open for another few months to give customers enough time to redeem cou-pons and use gift cards.
Columbia Photo’s slogan is “Preserving memories since 1968.” That was the year Tom
Atkins bought Capen’s Photography on Broadway downtown and changed the name to Columbia Photo.
Atkins moved the store to north 10th Street in 1976, and when Columbia College made an offer to buy the property at the edge of its expanding campus, he decided to move the business back downtown to a building his family owns.
The move to the ground loor of the Atkins City Center, a reno-vated historic building on one of the city’s most-traveled streets, provided Columbia Photo with the right amount of loor space for its inventory and greater visibility, Marks said.
“Overall, it was a good move,” he said. “Sales just continued to be lower than what they needed to be.”
However, there were a few negatives, he acknowledged. Parking was plentiful at the former location, and it became harder for customers to ind parking spaces downtown. Also, he suspects a signiicant amount of business might have been lost after the move because some regular custom-ers, particularly from outside Columbia, didn’t shop at the new store.
“It’s hard to say what impact losing parking had,” Marks said. “A part of Columbia just doesn’t like to come downtown, for whatever reasons.”
The larger issue was the competition with companies selling photography equipment and services over the Internet, including manufacturing companies such as Canon and Nikon.
Vendors that used to allow Columbia Photo to be the exclusive dealer of their equipment began to compete for sales, and Marks said that caused the local company to lose its proit margins. Big box stores such as Best Buy also took away potential sales, as did Amazon.com and other online stores.
Also, with digital cameras and printers becoming less expen-sive, fewer people needed to go to Columbia Photo to get their photographs processed. The growing number of cell phones with sophisticated cameras and large memory cards also cut into the business.
“It’s all about instant gratiication now,” Marks said. Nevertheless, Marks said there is still a demand for a service-
based photography store, and he said anyone with an interest in illing the niche market in Columbia should contact him: 443-0503 or [email protected]. v
Columbia Photo closing
“Overall, it was a
good move. Sales
just continued to be
lower than what they
needed to be.”
- Patrick Marks, Vice President
"A part of Columbia
just doesn’t like to
come downtown, for
whatever reasons."
- Patrick Marks, Vice President
25February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
Economic indicators ... continuedfromPage7
Missouri Unemployment Rate December2009:9.2%December2008:7.0%Change(#):2.2%
CONSTRUCTION Building Permits – Residential January2010:21January2009:46Change(#):-25Change(%):-54.3%Value of Building Permits – ResidentialJanuary2010:$1,631,528January2009:$4,505,854Change(#):-$2,874,326Change(%):-63.8%
Building Permits (Detached single-family homes)January2010:8January2009:12Change(#):-4Change(%):-33.3%
Value of Building PermitsJanuary2010:$1,404,800January2009:$2,334,000Change(#):-$929,200Change(%):-39.8%
Building Permits – Residential Additions/AlterationsJanuary2010:13January2009:24Change(#):-11Change(%):-45.8%
Value of Building Permits – Residential Additions/AlterationsJanuary2010:$226,728January2009:$472,290Change(#):-$245,562Change(%):-52.0%Building Permits – CommercialJanuary2010:17January2009:20Change(#):-3Change(%):-15.0%Value of Building Permits – Commercial January2010:$1,757,700January2009:$2,653,167
Change(#):-$895,467Change(%):-33.8%
Building Permits – Commercial Additions/AlterationsJanuary2010:15January2009:16Change(#):-1Change(%):-6.3%
Value of Building Permits – Commercial Additions/AlterationsJanuary2010:$1,725,700January2009:$2,390,167Change(#):-$664,467Change(%):-27.8%
HOUSINGBoone County detached single-family homes
Units Sold January2010:68January2009:49Change(#):19Change(%):38%January2008:94January2007:105January2006:114
Volume of SalesJanuary2010:$11,268,910January2009:$7,763,175Change(#):$3,505,735Change(%):45%
Months of InventoryJanuary2010:16.99January2009:21.22Change(#):4.23Change(%):-19
Median Price January2010:$140,550January2009:$157,000Change(#):$16,450Change(%):10.4%
Foreclosures in Boone County January2010:32January2009:14Change(#):18Change(%):128%
COLUMBIA REGIONAL AIRPORTPassengers on Arriving PlanesDecember2009:1,783December2008:1,978Change(#):-195Change(%):-9.9%
Passengers on Departing PlanesDecember2009:1,755December2008:1,904Change(#):-149Change(%):-7.8%
UTILITIES Water CustomersJanuary2010:44,512January2009:44,163Change(#):349Change(%):0.8%
Electric CustomersJanuary2010:45,134January2009:44,919Change(#):215Change(%):0.5%
Sewer Customers – ResidentialJanuary2010:40,277January2009:39,816Change(#):461Change(%):1.2%
Sewer Customers – CommercialJanuary2010:3,531January2009:3,556Change(#):-25Change(%):-0.7%
ECONOMIC INDEX | COLUMBIA'S eCONOMIC INDICATORS
Contributorsinclude:LoriFleming,KarenJohnson,SeanMoore,LindaRootes,SarahTalbertandCarolVanGorpCompiledbyDavidWalle
26February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
PUBLIC RECORDBoone County deeds of trust more than $150,000 - Jan. 26 to Feb. 8
$8,813,000 PREMIER LAND HOLDINGS LLCPREMIER BANKSTR 20-49-12
$4,837,076 BOULDER SPRINGS - COLUMBIA LLCREGIONS BANKLT 41 COLLEGE PARK SOUTH SUBDIVISION PLAT 4
$4,837,076 BOULDER SPRINGS - COLUMBIA LLCREGIONS BANKLT 42 COLLEGE PARK SOUTH SUBDIVISION PLAT 4
$1,833,365 ADVANCED HOSPITALITY LLCBOONE COUNTY NATIONAL BANKLT 4B PL 2 KEENE ESTATES LT4 FF WITH EASEMENT
$1,180,000 AEGIS INVESTMENT GROUP IV LLCLANDMARK BANKLT 306 KEENE MEDICAL BUILDING CONDOS
$1,144,832 C&M VENTURES LLCWALKER, EARL E TRUSTLT 227 PT COLUMBIA
$660,000 CHERRY HILL DENTAL ASSOCIATES LLCUMB BANKLT 101 ROSEWOOD CONDOMINIUMS
$417,000 WATKINS, MELVIN L & W BURRELLBOONE COUNTY NATIONAL BANKLT 16 BLUFF CREEK ESTATES PLAT 1
$376,000 ROONEY, JOHN T & KATHRYN SBOONE COUNTY NATIONAL BANKLT 389 THORNBROOK PLAT NO 12
$330,000 LAWSON FAMILY REVOCABLE TRUST THEHAWTHORN BANKLT 105 WOODLANDS PLAT 4B THE
$328,000 GROSSMANN, ERIK M & KAREN MLANDMARK BANKLT 334 THORNBROOK PLAT NO 10
$298,081 MISSOURI CATTLE BREEDERS INCCALLAWAY BANK THESTR 1-49-14 //NW AC 9
$290,018 PFENENGER, GEORGE & JOANWELLS FARGO BANKLT 158 HERITAGE ESTATES PLAT NO 1
$285,000 RIPPETO FAMILY TRUSTBOONE COUNTY NATIONAL BANKLT 10 PT FF CONLEY'S SUB
$272,000 BESHORE, BRENT C & ERICA LCOMMERCE BANKLT 363 THORNBROOK PLAT NO 11
$268,000 WEINREICH, CHRIS & VAN MATRE, BRIELLE LLANDMARK BANKLT 31 WOODRIDGE SUB BLK 6
$262,449 MARREN, JEFF & KAREYUNIVERSAL LENDING CORPSTR 4-45-12 /SE/NW AC 3
$250,000 MDJ 2008 REVOCABLE TRUST THEBOONE COUNTY NATIONAL BANKLT 4 PT FF TURNER'S ADD
$236,000 SUN, JING & GU, LIQUNBANK OF MISSOURI THELT 453 THORNBROOK PLAT NO 13
$233,502 PRYOR, THOMAS OLIVER & KATHRINE; MARSHALL, MARYWELLS FARGO BANKLT 125 ARBOR FALLS PLAT 1
$230,000 BOURGEOIS, CURTIS MALCOMWEST COMMUNITY CREDIT UNIONSTR 8-48-14 SE/SW/NE
$229,800 BACKUES, DANIEL RAYMONDBANK OF AMERICASTR 24-49-13 /SE/NE AC 8.700 FF TRACT 3 SUR 7573 W
$224,000 SHAW, KENNETH W & LINDA MROCKWOOD BANKLT 159 HERITAGE ESTATES PLAT NO 1
$219,800 FLETT, RICHARD H & JANET LLANDMARK BANKSTR 36-47-13 /SE/SE SUR BK/PG: 726/845 AC 6.600
$219,500 MENSER, MICHAEL MILLS JRSECURITY NATIONAL MORTGAGE COLT 48B COUNTRY CLUB VILLAS II LT48
$216,000 ZWONITZER, GARY L & IDA JMISSOURI CREDIT UNIONLT 253 KATY LAKE ESTATES PLAT 2-B
$212,800 MEYERS, WILLIAM H & DALISAY H CMISSOURI CREDIT UNIONLT 52 HERITAGE MEADOWS PLAT 3
$212,000 TOWNSEND, DAVID & KERRYWELLS FARGO BANKLT 148 WEST POINTE PLAT 1
$209,135 JENSEN, THOMAS RWELLS FARGO BANKLT 18G BLUFF CREEK ESTATES PLAT 3-G
$205,000 SOUTH PARK HOMES LLCRCSBANKLT A-9 HYDE PARK BLK 2
$203,893 SHELL, CHARLES A & WENDY LWELLS FARGO BANKLT 22 HAMLET PLAT 1 THE
$202,000 MARINOVA, DETELINAFIFTH THIRD MORTGAGE COLT 98 BEDFORD WALK PLAT 8
$200,800 PHILLIPS, LANCE & ROLAND, ANNBANK OF AMERICALT 7 PL 1 TOWER ESTATES SUB
$200,000 BENJAMIN, JOAN M & ALLAN SLANDMARK BANKSTR 7-47-13 //NE SUR BK/PG: 2684/39 AC 28.86
$195,000 MILLER, JAMES CHRISTOPHER & GRIESEMER, ERIKALANDMARK BANKSTR 10-48-14 //SE SUR BK/PG: 3002/101 AC 88.680
$194,413 WENTZ, BRADFORD TALLIED MORTGAGE GROUP INCLT 49 MARYLAND HEIGHTS SUBDIVISION
$189,000 GALLUP, CLINTON D & BRIDGET AREGIONS BANKLT 5 BAY HILLS PLAT NO 1
$186,869 CORN, KENNETH J R & ANGELA MALLIED MORTGAGE GROUP INCSTR 14-50-13 /SW/SW SUR BK/PG: 3395/143 AC 10.45
$185,000 KOENIG, CHRISTOPHER T & JENNIFER LMISSOURI CREDIT UNIONLT 93A COUNTRY CLUB VILLAS III LOTS 91,92,93
$182,500 COOLEY, ALYCE A. & JAMES LPARAMOUNT BOND & MORTGAGE CO INCLT 7 HILLSHIRE ESTATES PLAT 1
$177,520 CALZI, MARCO LI & CORNUEL, MARIE-AUDE SYLVIEBANK OF MISSOURI THELT 346 CASCADES PLAT NO 3 THE
$176,500 ASBURY, JOSEPH T & LEIAREGIONS BANKSTR 33-51-11 W/W/NE
$176,500 PLANK, DAWN & ADRIANMISSOURI CREDIT UNIONLT 4 PERCHE HILLS ESTATES SUB
$176,361 VOLKERT, MATTHEW S & NICOLE DWELLS FARGO BANKLT 106 AVALON PLAT 1-A
$175,050 BROWN, TIA LFLAT BRANCH MORTGAGE INCLT 4 BL 9 ROCKINGHAM PLACE
$173,636 EARLY, JEFFREY KSTONEGATE MORTGAGE CORPLT 16 PT SAPPINGTON SUB
$168,000 BITTERMAN, SCOTT A & ELISABETH AWELLS FARGO BANKLT 4 PT COUNTRYSHIRE ESTATES
$167,000 WILSON, FREDERICK PAUL & PATRICIA KINSEY TRUSTWELLS FARGO BANKLT 139 HERITAGE ESTATES PLAT NO 1
$165,750 FAIRWAY MEADOWS CORPBOONE COUNTY NATIONAL BANKLT 64 BOONE'S POINTE
$162,900 BLOOM, KRISTIAN R & SARA OWELLS FARGO BANKLT 18 BEDFORD WALK PLAT 4
$161,500 ELRAI, TAISIR & MUNAMISSOURI CREDIT UNIONLT 330 VANDERVEEN CROSSING NO 8
$160,047 HALL, RONALD W JR & FARRIS, STEVEN TFLAT BRANCH MORTGAGE INCLT 206 STONECREST PLAT NO 6
27February20,2010C
olumbia B
usiness Times|C
olumbiaB
usinessTimes.com
CONSTRUCTION UPDATE
Les Bourgeois WineryWhat: Les Bourgeois Winery and Vineyards is nearly doubling the size of its winery.Where: The 14,000-square-foot building is next to the current winery building at the Interstate 70 Rocheport Exit, just south of the restaurant and bistro.Cost: $2 million: $1.6 million for the new building and nearly $400,000 for the winemaking equipmentLender: UMBContractor: Huebert BuildersArchitect: Stephen BourgeoisEstimated Completion: August Why: The winery expansion “is something that we’ve needed to do for a while to keep up with our success and growth,” CEO Curtis Bourgeois said. “We’re maxed out. We have wine tanks outside in our parking lot because there is no room inside the current building, so we’re building the new facil-ity to accommodate production and give us the ability to grow to twice our size.”The brick building that houses the wine production was once Pete’s Café, and the operation can produce 120,000 gallons of wine. The new building will allow Les Bourgeois to make up to 250,000 gallons of wine. “This project is going to be the biggest thing that we’ve done since we built the bistro 13 years ago,” Bourgeois said.About 85 percent of the wine production will be moved to the new building. The processing includes crushing, fermenting, blending, bottling and storing. It will not be open to the public. The older building will be used for wine tasting, tours of the winemaking operation and retail sales. The move to the new building is going to be a slow process because the wine tanks are all full. “Tanks need to be bottled and drained before they can be moved,” Bourgeois said. “Our goal is to have (our) 2010 crush around Aug. 10 in the new building.”
City building permits issued more than $100,000 in January
TKG Biscayne LLC229N.Stadium$550,000Commercialalteration
Sircal Contracting5909Paris$380,000Commercialalteration
Coil Construction511Rollins$300,000Commercialalteration
On Point Construction5506Thornbrook$200,000Newsinglefamilydetached
Robert Akin Construction & Design LLC3212BallardMill$200,000Newsinglefamilydetached
Mike Haynes Construction1009RainbowTrout$200,000Newsinglefamilydetached
Mike Haynes Construction1007RainbowTrout$200,000Newsinglefamilydetached
Smith Building Company3205BallardMill$175,000Newsinglefamilydetached
Con-Tech Construction2004Hilda
$150,000Newsinglefamilydetached
Con-Tech Construction2002Hilda$150,000Newsinglefamilydetached
Kirberg Rooing Inc.1502W.BusinessLoop70$140,000Commercialalteration
Professional Contractors & Engineers1605E.Broadway$150,000Commercialalteration
Four Seasons Construction2505SpanishBay$129,800Newsinglefamilydetached
CONSTRUCTION PERMITS
