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Post-Election Economy – U.S., Florida, Global

Ft. Lauderdale, FL (October 12, 2012) – Florida TMA (Turnaround Management Association)  is pleased to announce a special South Florida event on November 14^th  focused on the key economic takeaways following the 2012 election. Well known economist Bill Stronge, Ph.D. Economics, Iowa State University and Professor Emeritus of Economics at Florida Atlantic University will discuss short and long-term issues such as the growing U.S. debt, entitlement programs, tax policy, health care, GDP growth and unemployment in the context of the 2012 election results.

Dr. Stronge was professor in the Economics Department at Florida Atlantic University from 1971-2006 (Chair, 1981-1990) and FAU Director of International Programs from 1990-2003. He also engages in economic consulting and research for public and private sector clients. Recently, he was appointed a Fellow with the Economic Development Research Institute (EDRI) in Palm Beach County and in 2009 became an adjunct professor of economics at Nova Southeastern University in the Master’s in Real Estate Program and in 2011 in the MBA Program.

Wednesday, November 14th, 5:30pm

$45 for TMA and Guest Organization Members

$55 Non-Members

Visit www.tmaflorida.org for information and registration or call (954) 653-2484

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TMA and the Florida Chapter
The Turnaround Management Association (www.turnaround.org) is the only international non-profit association dedicated to corporate renewal and turnaround management. Established in 1988, TMA has more than 9,000 members in 47 chapters, including 32 in North America, and one each in Australia, Brazil, the Czech Republic, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, Southern Africa, Spain, Sweden, Taiwan and the UK, with a chapter in formation in Romania. TMA members are a professional community of turnaround and corporate renewal professionals who share a common interest in strengthening the economy through the restoration of corporate value. The Florida Chapter is dynamic and vibrant with meetings in the four leading markets in the State: Southeast Florida, Orlando, Tampa Bay and Jacksonville. Membership is entitles members to discounts at programs and networking events, including access to periodic members only events. More info: www.tmaflorida.org or contact Chapter Administrator Tabitha Moore at (954) 653-2484.

Event Sponsors:

 Renaissance Partners LLC

Turnaround and Retail Consultants 

U.S. Economy-The Real Truth

Ft. Lauderdale (May 10, 2012) –Florida TMA announces a special South Florida event focused on issues affecting the current and future economic situation. Well known economist Sanford J. “Sandy” Leeds will discuss the growing U.S. debt, entitlement programs, taxes, health care, politics and shorter-term issues such as GDP growth and unemployment.“Sandy Leeds is a must-see analyst, economist and financial professional who offers objective views on the U.S. economy.”

Sanford J. Leeds, Esq., CFA

Leeds is a faculty member at The University of Texas and President of The MBA Investment Fund, L.L.C. He teaches graduate and undergraduate courses, is a member of the Texas State Bar and is a Chartered Financial Analyst. Leeds serves on the Investment Committee of The Austin Community Foundation. Previously, he managed investments for a private money management firm with $1.6 billion of assets, and in his legal career conducted jury/bench trials including those affecting the securities industry and hearings involving the Sterling Foster $75 million fraud case. He advises on financial related litigation involving options, hedge funds, and other matters.

At McCombs School of Business, Leeds also teaches in the Dallas Executive MBA and International General Management programs. The recipient of numerous teaching awards, he makes presentations to various U.S. organizations and publishes weekly at www.leedsonfinance.com.

Reprint from SGB January 4, 2000

As retailers approach and hopefully recover from the last Holiday Season of the millennium, it is once again time to objectively evaluate the business. Many companies are at a crossroads in their business lifetime. Management, Directors, Shareholders and other “Stakeholders” annually, if not more often, ask:

• Do we continue to do nothing;
• Do we close the doors, liquidate, payoff creditors and move on;
• Do we identify and address our needs internally and take action;
• Do we seek help from outside our business?

To answer these questions objectively requires a critical assessment of the position we’re in financially, competitively and a determination of what core competencies we have. Simply put, why are we in this position and do we have what it takes to fix it.

Why Are We Distressed?

For many players we must first look introspectively at ourselves. In most cases management is, and has been, in self-denial believing that if we return to our key success factors of the past, and re-double our efforts, things will work out. In other cases the Directors, Owners and Managers are relatively inactive or not motivated to take intense action to evaluate and reinvent the business. Many are only willing to collect a paycheck and play out the string until someone else takes responsibility and action. Others are risk averse and seek to avoid being blamed when the business “flames out”.

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Reprint from SGB February 1, 2000

Let the Super Show begin! It’s a new year, a new millennium. So much for Holiday ’99. We’re at a crossroads – it’s a “New Beginning”. So what’s it all mean anyway?

Where are we as Sporting Goods Retailers?

We’ve just emerged from another year of average to poor performance. Jumbo Sports is gone. Gart and Sportmart have merged Hibbett’s good regional sales growth has continued but its stock price is off 40% from its May 1999 high. Galyan’s has split from Limited and the big players, Sports Authority and Oshman’s have continued their course. Some regionals remain, such as Dunham’s, and sports apparel chains such as Dick’s and Bob’s continue modest growth. Footwear and related apparel have posted a relatively weak year and it’s taken a toll on footwear players like Just For Feet and Footstar as well as the sporting goods mass merchants. And now e-commerce! Fogdog Sports and MVP.com represent high profile new entrants, just to name a few, while brick and mortar retailers, manufacturers and catalogers heat up their entrées for direct consumer consumption (e.g., footlocker.com, nike.com, dsports.com, thesportsauthority.com, REI.com, Riddell.com and Varsity.com). E-commerce provides both another means by which to shop traditional stores’ assortments and a way for some players to create smaller, segmented, more specialized niches than can effectively be created by building stores. What can we learn from all this and more importantly, what can we do about it in the year ahead?

Where have we been during the 90’s?

It’s clear that for most industry players they buy, present and sell an assortment of highly recognized vendor branded goods, from apparel to footwear to equipment. Certain stores occupy stronger or weaker market positions due to their real estate density, quality and time of possession on a market-by-market basis. Many of these store chains, however, generally lack their own identity… an identity that is theirs and not that of the vendors whose goods they sell. These chains tend to reflect what has occurred in department store retailing as a result of consolidation and focus on cost cutting and inventory turns – homogenization. However, unlike the department stores, there has been little brick and mortar consolidation in sporting goods to create a truly dominant national player producing top-flight financial results.

The answer may lie in ………………….!

Differentiation!!! Create differentiation. Create top-of-mind awareness. Create a point-of-view. Perform editing for your customer. Stand for something. Stick with it. Send consistent cues. Make your store and your auxiliary distribution mechanisms (catalog, e-commerce, etc.) important.

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Reprint from SGB, March 1, 2000

Creating top of mind awareness of your store, and being viewed as an authority on your business, will be a key success factor in the new millennium. Being first in a category, a format, or in a real estate venue isn’t enough. New media and increased media coverage, new technology and new distribution channels make it increasingly easy to copy and even leapfrog a leader.

What we all seek now is “lasting enterprise value”, or a sustainable successful business. As in the past it takes execution, intense hard work, attention to detail, and attention to a changing customer, in short:

Spot trends quickly;
Apply trends to your business, often by thinking outside of the box;
Determine what trends are commercially viable to exploit;
Apply trends in a flexible store environment that permit inexpensive change in the future;

Now, about spotting trends…. It takes intensity applied in a manner that is formal, focused and fast.

Business Context

The trends this process identifies must then be brought to your business “context”… that means your business must know itself:

• What business are you in?
• How do you execute your business?
• What differentiates your business?
• Do you have the right infrastructure, controls and management to be successful?
• Do you perform well?

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Reprint from SGB June 5, 2000

History Lesson

Every retailer seeks to offer outstanding customer service. Millions have been spent on the latest “buzzword” laced programs developed and run by zealous HR and store operations operatives. Many companies have dispatched throngs of personnel to Disney and other seminars and training projects pledging to return immediate impact on sales through friendly, knowledgeable, courteous and prompt service. Countless hours have been consumed to train, brainwash and indoctrinate unwilling, un-motivated, non-believing people in the ways of the retailer and its commitment to outstanding, customer service.

What does it all mean? Why do we still do it? What can we learn from the past and from our wasted capital? What and who do we admire for its service and why?

What remains valid is the retailer’s continued desire to:

• win and retain customers
• meet or beat service expectations
• build a consistent image in the customers mind
• create long-lasting top of mind positive awareness of the business

Define it

In this column we’ve focused much attention on branding of store and creating long-lasting enterprise value. We’ve looked at businesses that have achieved “store as brand” identity. Most if not all have good customer service in the eyes of the consumer, whatever the definition of good may be.

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Reprint from SGB (August 23, 2000)

Establishing and maintaining customer relationships has always been crucial to a retailer’s success. But now, more than ever, companies have realized that in order to succeed in the information age, they must do more than offer generalized coupons, promotional events and price discounts. Consumers around the world want to quickly find the merchandise they want at an attractive price, in-stock, and they want to be recognized and feel that they can consistently rely on that organization. In short, the consumer wants to be a retailer’s main priority. What better way for a retailer to do that than through knowing the customer. Call it data mining, customer relationship marketing or whatever the current “buzzword” may be – the bottom line is knowing the customer to direct your offerings, your store and your service to the customer’s needs and desires.

What is data mining?

This is a process by which organizations compile personal, pertinent, actionable, information about the purchasing habits of their current customers as well as potential customers. Traditionally catalogers, who had no other way of getting to know their customers, used “data mining”. The concept spread quickly, becoming a necessary way of doing business in every facet of the global economy. Organizations around the world are now realizing that knowing their customers behavior, thought process and demographic profile is one important way they can establish competitive advantages and create brand awareness and brand loyalty over the long term.

How is Information obtained?

As consumers, we are often bombarded with unsolicited mailers and surveys (in-store or phone) that may be viewed by some as intrusive. With privacy concerns on the rise, many organizations have had to rethink their data-gathering initiatives. The Internet has however spawned new and unique ways of accumulating consumer information. Most importantly, it allows consumers to freely, on their own time, relay personal information about themselves. It is believed by many that the key to direct marketing is to collect information when the consumer wants to communicate it, and not when companies feel they want it.

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