Those critics, who largely are justified because as taxpayers they’re equity partners, have reason to be heartened by the aggressive first steps announced by the new man in charge on the east bank, veteran Wichita entrepreneur Jack DeBoer.

A very sage developer told me years ago that there are two kinds of Wichitans: The people unafraid to act, and the people paralyzed by fear, more intent on pointing fingers.

Make no mistake about it: DeBoer falls into the first category, and his decision to pursue commercial traffic at WaterWalk is a decision playing very well, even with some of the project’s harshest critics in the local development industry.

DeBoer is a unique guy: A fountain of ideas, and a man who’s willing to crank out and try a dozen of them, secure in the knowledge that one or two are going to succeed.

Add to that his decision to retain Marlin Penner, the president and managing broker of NAI John T. Arnold Associates, to market the development’s commercial property. When you cover real estate, you learn quickly – and often by the hard way – whose word is gold and whose word isn’t worth the air it occupies. I’ve known Penner for 20 years, and he most assuredly falls into the former category.

I’m not here to tell you that DeBoer will succeed. I doubt that even Jack would be that presumptuous.

But I am here to tell you that his decision to shift focus to market-driven traffic down at the WaterWalk is the development’s best chance for success.

It’s time for the finger-pointing to stop. What went wrong at WaterWalk has been rehashed enough. Let’s sit back and watch a veteran entrepreneur at work.

There were several calls to action, including one from Mayor Carl Brewer, who said, “We cannot be intimidated.” Others called out Wichita blogger Bob Weeks and one near the front of the room, away from me, said bluntly, “We have to watch who we elect.”

Quite clearly, the information battle on downtown redevelopment has been joined. I’ll have more on the brainstorming sessions, including the focus on the anti-tax crowd, in Saturday’s Eagle.

Staff at the RiverCity Company, which oversees the local revitalization effort: 12.

Staff at the Wichita Downtown Development Corp., the point organization for Wichita’s growth plan: 3, and sometimes 4.

One of the thoughts percolating through the Visioneering Wichita delegation Thursday was WDDC staffing. President Jeff Fluhr will need more bodies as the effort ramps up.

Philanthropy is going to be essential to get Wichita’s downtown program going. Chattanoogans talk a lot about “motivated local money.”

And one good starting point for a Wichitan who’d like to buy into downtown’s future would be to fund an increase in the WDDC staff.

But I’m the kind of anal-retentive guy who will spend a year voraciously reading automotive reviews before I even think about approaching a dealer to trade cars. That’s no excuse for buying a Chevrolet Blazer, but I never said I was perfect.

So maybe that’s why I’ve struggled to get this term out of my head this week: Due diligence.

It cropped up twice this week, early as I sat in court listening to the mind-boggling tales of investor after investor who happily plowed thousands into Thomas Etheredge’s Wild West World, largely without so much as a Google of “Thomas Etheredge,” let alone any sticky details like a proforma or a business plan.

I’ve certainly underestimated the spell of a jailhouse conversion, let alone three of them.

And that says nothing of the bankers who handed over bags of money to him, apparently with little more than a hearty “Look me in the eye and hear me well.”

And then due diligence cropped up again as I researched a story on the relative lack of development around Intrust Bank Arena. It seems that business developers have this crazy notion that they’d like to gauge the demographic and traffic around the arena before they buy in and start building restaurants, entertainment venues and shops. It happens that way all across this great country of ours. Go figure.

So if there’s a moral to my week, it’s a growing appreciation of the folks who will follow the arena downtown to do business.

After they do their homework.

Now comes a Bloomberg piece from Washington, D.C. sounding the same warnings – a cutback in commercial securities, rising default rates, refinancing problems.

Interestingly, the locals said that the problems are manifesting themselves in the Wichita multi-family market, with record numbers of apartment complexes up for sale.

Today, there are 36 multi-family complexes – from duplexes to multi-unit apartment complexes – for sale in Wichita, according to Loopnet. The reason? Many owners bought with conduit loans three to five years ago that are coming due, and will be difficult if not impossible to refinance.

There could be some real bargains soon for cash buyers in the Wichita multi-family market.

It appears that Elkington’s signature project, Beale Street, has become a legal hot potato in Memphis, with the city suing Elkington’s Perfoma group and Elkington replying in kind.

Meanwhile, WaterWalk remains a stretch of barren ground, surrounding the lofts and office project, the Wichita Area Association of Realtors and Gander Mountain.

It’ll be interesting to see what direction new Wichita City Manager Bob Layton can help provide.

Stewart is one of the funniest — and smartest — men alive, in my opinion. Last night he took on CNBC. If you didn’t see it, watch this. I promise you too will find it amusing.

This is how to get free publicity.

Fitting Into the News

How to Get Positive Ink in Newspapers and Magazines

“It’s amazing that the amount of news that happens in the world every day always just exactly fits the newspaper.”

– Jerry Seinfeld

In the PR business, one thing to always remember is that the task of executing good campaigns for our clients isn’t nearly as challenging as the task of a newspaper or magazine editor.

While PR professionals follow the news trends, editors have the responsibility of setting them. They decide:

· the priority for each story,

· the amount of space to devote to it,

· how to illustrate it, and finally…

· how to ensure it reflects the truth!

And newspapers have to do that every day. No holidays. No breaks.

Magazines go more in-depth, and because most are monthly, their challenge is far greater. They begin work on the issue that hits the stands in May way back in February, and they have to predict which stories are going to be relevant two or three months from the time it is researched and written.

The reason I point this out is because the number one pitfall of those seeking news coverage doesn’t concern the quality of the press release, the timing of the story or the skill of the spokesperson being interviewed.

It concerns recognizing the needs of the editors, who are the gatekeepers between you and your story and the millions of readers they reach.

From their standpoint, their newspaper or magazine does not exist to “give you coverage.” It does not exist so you can get your name in the paper and generate customers for your business. Their publication exists to inform and entertain their readership enough to keep them subscribing. In so doing, they provide enough readership to justify selling display advertisements that appear next to their articles. In other words, the newspaper cannot make money by serving you or your company in its editorial space. It can only survive by serving its readership.

So, the primary part of the equation is your approach to these editors. It’s not about bending them to your will, but rather tailoring a story and angle about your company, service or product that will appeal to their readership. Moreover, it can’t sound like an infomercial. Anything that is too commercial will earn the response, “buy an ad.”

Here are some tips on how to shape that angle:

If You Want to Get in the Paper, Then Read the Paper

If you want a newspaper or magazine to feature you, then first you’d better see what they are featuring in their pages. Once you understand what they write about in their pages, it will be easier for you to see how you could fit in.

Analyze if You are Actually Newsworthy

If your business is in an industry that is getting a lot of press lately, chances are you could piggyback on the headlines. Does your business offer solutions for people to help beat the recession? Right now, that’s a home-run story in most markets. Has your business beaten the odds or overcome adversity? Do you have an inspirational story to tell regarding how you prevailed over misfortune? Newspapers and magazines love to feature those kinds of angles, because they are universal and appeal to everyone.

Select the Right Tool to Get Coverage

When you have something to communicate to the press, use the right tool for the job. Most companies issue a press release whenever they move two inches to the left. Press releases should only be used when there is something “newsy” to communicate. Incidentally, reporters and editors don’t refer to them as press releases. According to the Associated Press Stylebook, they are called news releases. You should think of them as news releases, too.

Sometimes a simple email to an editor with three sentences describing the story angle is enough. Sometimes a pitch letter is what’s required. Remember, you don’t want to waste the time of the editors you are contacting. Give them as much information as they need to decide if you’re newsworthy, and that’s it. They won’t read a 4 page press release, so don’t feel compelled to write the company manifesto. They won’t read it, anyway.

Ask Yourself If You Would Read the Story You Want to Pitch

Be objective and ask yourself, if you were reading a magazine or newspaper and saw a story like the one you want the press to write on the page, would you take the time to read it? If you can imagine the headline in your head, and then hear yourself thinking “Who cares?” in response to it, chances are you need to come up with another idea.

Bottom line…

If you want to get in the paper, then you need to think more like the editors who control that gate. The better you can help them serve their readers, the more they will want to write about you.

Bell said that the city, in sending out fliers to sell 2.3 acres at First and Waco – no RFP, just fliers – asked interested parties to offer up their last, best offer for the land.

But a closer look at the offers submitted by the Greater Wichita YMCA and InSite Real Estate Group raises a question: How do you define the best offer?

The InSite offer was for $700,000 for the land, on which 60,000 feet of office space would be built within the next five years.

The Y package provided by city officials didn’t include a cash price, but included a laundry list of programs similar to what the Y offers at its other Wichita locations. It’s an impressive collection of community programming, to be sure. But there’s no offer of money.

So how did city staff arrive at the Y offer as the best?

According to the Associated Press, attorneys for Hard Rock Myrtle Beach Holdings LLC have filed for liquidation bankruptcy, eight months after the $400 million 55-acre amusement park opened. The park was the biggest single investment ever in South Carolina tourism.

Last month, the park was auctioned but no bidder who could pay at least the opener of $35 million, or about 9 cents on the dollar, emerged.

In the words of the immortal Yogi Berra, “It’s like deja vu all over again.”