Daily Archives: July 24, 2008

Small businesses say they are doing well

July 24, 20081:11 p.m.

Despite a prevailing view among small business that the economy is poor, a majority of professionals say their business is going well, according to a survey by Opinion Research Corp.

The survey found that 65 percent of small-business professionals rated their own business conditions as “good,” compared with 32 percent who rated them “poor.” But only 27 percent of small-business professionals rated the economy “good,” while 71 percent said the current economic conditions were “poor.” Half of respondents said they expect the economy to be good a year from now, BtoB reports.

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Food vs. Fuel: How about both?

July 24, 200810:49 a.m.

A new alliance supporting credible science and funding for research in agriculture technology has been formed. Key players are Deere and Co., Dupont, Monsanto, Archer Daniels Midland and the Renewable Fuels Association.

The new alliance aims to advance the idea that agriculture is capable of supply the world with food, feed, fiber and fuel.

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A real estate icon passes away

July 24, 200810:22 a.m.

You immediately knew Jack Hunt was someone special, even if you’d never met him.

I first saw him a couple of years ago when he walked into a local real estate meeting, frail and with the aid of a cane. Immediately, a literal who’s who of Wichita commercial agents flocked to him like moths to a flame.

Hunt, 86, who died Tuesday, was known for a lot of qualities, but none more so than his resourcefulness, as recounted by his friend, fellow commercial Realtor Rod Stewart.

Hunt, Stewart and their friends took a two-RV vacation 32 years ago to Santa Fe, N.M.

The men were in one RV, the wives in another, when a group of machete-wielding locals decided they were going to invade the womens’ RV.

One of the locals raised his machete, Stewart said, and knocked on the door, only to be confronted by the smallish Hunt, carrying a 9mm handgun.

“Don’t make me ruin my vacation,” Hunt warned the intruders.

The door-knocker complied, throwing his machete on the ground and telling Hunt, “Please don’t shoot me, crazy grandpa.” Hunt kept the machete, Stewart said, had it bronzed and displayed it above the bar of his Wichita home.

That, Stewart said, was Jack Hunt in a nutshell. Read more about Hunt, his career and his influence on Wichita commercial real estate in Friday’s Eagle.

By Bill Wilson | Filed under Real estate | Comments | Share this post

The best business niches are the simplest

July 24, 20089:27 a.m.

Entrepreneurship, in a nutshell, is identifying an underserved part of the retail market and then supplying it with value in a product.

Simple-sounding, but a moving target as 80 percent of all entrepreneurs fail, according to Wichita entrepreneurship guru Fran Jabara. But not the Steven family at Spangles, whose growth continues to shatter company records.

Dale and Craig Steven’s idea has stood the test of time: Fresh, quality food at a below-market price. WAY below market if you’ve dropped $15 or more on lunch recently in Wichita.

The idea is blended adroitly with a heavy dose of marketing that – love it or hate it – keeps Spangles at the front of consumer minds.

At a time when retailers in all sectors – especially casual dining restaurants -  are being pinched by out-of-control energy prices, only the strongest prosper. That strength in tough economic times is found in value, Jabara said.

By Bill Wilson | Filed under Retail | Comments | Share this post

Credit crunch claims commercial prices

July 24, 20089:14 a.m.

May wasn’t a particularly good month for commercial real estate prices, which fell according to this article from LoopNet News.

Interestingly, the commercial market continues to prosper in Wichita. Most agents are reporting a shortage of Class A commercial space, which limits the region’s ability to attract top-flight manufacturers and help local companies grow. Look for growth in speculative Class A building in Wichita over the second half of the year.

By Bill Wilson | Filed under Real estate | Comments Off | Share this post