NWLA Business Monthly - April 2013

Published By Specht Newspapers, Inc The Heartbeat of Northwest Louisiana Growth April 2013

Drill,BabyDrill!

Haynesville ShaleStill A Top Producer

In Northwest La.

2 | April 2013 | BUSINESS MONTHLY

More than 10 years ago, a majorhail storm struck my hometown ofMinden. It was a traumatic event,causing much damage to roofs, vehi-cles and anything left outside.Although it was a verydetrimental event, therewere those that saw majoropportunities and seizedthem.Literally, within hours,

hail damage repair shopsbegan popping up all overtown. Roofers were also intown in full force. Insurance companies

were cutting checks toclaimants with very little resistanceand the economic engine was firingon all cylinders. Even the newspa-per benefited, as all the aforemen-tioned businesses advertised theirservices on a daily basis.What started as a major negative

in the news, turned out to be a posi-tive, full of business opportunities.Prior to 2008, most folks had

never heard of terms like “shaleplay” and “hydraulic fracturing.” Ohwhat a difference five years havemade.Today, many local folks are

receiving royalty checks on top ofmineral lease checks they received.Others are tapping in to opportuni-ties that have come with the natu-ral gas boom here.Seeing and seizing the business

opportunities around us are thekeys to prolonged economic growthin northwest Louisiana.Sometimes the opportunities are

right before our eyes, as was thecase with the mineral lease pay-ments. Others take a little work andvision.I remember the story of a cater-

ing company in Minden that capi-talized on the shale early in thegame. He learned that remote gasrig sites needed food service fortheir employees and he had theproduct to meet those needs. Withhis cooking trailers readied, he has

grown his business exponentiallyover the past two years.As business owners and decision

makers, it is our duty to locate newopportunities for business growth.

The business that fails to grow willeventually be a business that fails.The Haynesville Shale play has

brought a host of business opportu-nities to our area if we search forthem. Some are easy to spot, whileothers take more work. However, letme assure you, they exist.Carefully examine your products

and services. See how they could fitthe needs of those directly involvedwith natural gas, or perhaps anancillary business tied to naturalgas. They are out there if you lookfor them.With our national economy

uncertain at best, we have to bemore diligent and creative than everto continue our growth in northwestLouisiana. The opportunities surrounding

the Haynesville Shale are just a fewexamples. We can look to the host ofother thriving industries here tofind others.It is rare that business opportu-

nities fall into your lap. Get serious.Get aggressive and help our localeconomic engine continue to fire onall cylinders. You will be so glad youdid.

DAVID SPECHT JR. is President of SpechtNewspapers, Inc. Read his blog about leadershipat www.DavidASpecht.com He may be reachedvia email at [email protected].

DAVID SPECHT JR.

Opinion

Take Advantage ofUnexpected Opportunities

PERSPECTIVE THE FIRST WORD

BUSINESS MONTHLY| April 2013 | 3


ON THE COVER HAYNESVILLE SHALE

PIPING IN THE PROFITS

FEATURES

6 Drill Baby DrillHaynesville Shale Still ATop Producer for Locals

8 Bringing a Flockof Visitors to TownWildlife Refuge an Asset

3 The First WordHigher Education Needs a Long-Term Funding Plan

7 From the Bossier ChamberLOGA Urges Oil and Gas Industry to Speak Out

8 Marketing BS (Bossier-Shreveport)Training Yourself for Success

11 Win-Win PowertoolsDon’t Practice on the Customer

17 Insurance MattersProtecting Your Business Equipment

PERSPECTIVE

Volume 4, Number 1©Copyright 2013 by Specht Newspapers, Inc. All rights reserved. Business Monthly is published each month by Specht Newspapers, Inc. at 4250Viking Drive, Bossier City, LA 71111. Telephone (318) 747-7900. Information in this publication is gathered from sources considered to be reliable,but the accuracy and completeness of the information cannot be guaranteed.

It’s been five years since the term “Haynesville Shale” was first introduced tonorthwest Louisiana. How is this natural gas play producing for the area? ...Starting on Page 5

CONTENTS

Find More Online at www.nwlabusiness.com


FEATURE HAYNESVILLE SHALE

BY SEAN GREENAbout five years ago, northwest

Louisiana resembled something ofthe old gold rush days — land menand prospectors arriving from allover, trying to find and buy land inthe Haynesville Shale with thehopes that it would pay off to thetune of millions.Then, the bottom fell out. The recession hit in 2009 and

energy prices dropped and the highcost of the type of drilling in theHaynesville Shale made discoveryand further drilling uneconomical.What resulted was a perception thatthe shale had been a bust at worst— a non-factor at best. However, Ragan Dickens, North

Louisiana Director andCommunications Director for theLouisiana Oil & Gas Association,said that the best days lie ahead.“As we have only produced rough-

ly 25% of the resources in theground in the Haynesville Shale,much activity is in the future. Themain thing keeping operators fromdrilling today is the economics,” hesaid. “As the market rebounds andthe demand for natural gas increas-es, the Haynesville and other natu-ral gas plays around the countrywill once again thrive.”And thanks to unconventional

natural gas reserves and productiondevelopment like that of theHaynesville Shale, the Louisianamanufacturing industry is experi-encing an economic renaissance. According to a LSU Center for

Energy Studies report, theLouisiana manufacturingsector has announced $62.3billion in new capitalinvestments over the nextfive to eight years in thestate. Each natural gas-related project will resultin a total of $20.2 billion incapital investment inLouisiana over the nextnine years.Construction of these

recently announced proj-ects is estimated to gener-ate more than $29.7 billionin economic output — acumulative increase of214,670 jobs generated anda $9.3 billion in increasedwages over a nine-year con-struction period.“The shale is already an

economic engine,” saidDickens. “It has alreadyproduced thousands of jobs, hun-dreds of millions of dollars in eco-nomic impact for an area that issteadily losing plants and industry.”Not to mention that the viability

of compressed natural gas as analternative fuel is helping driveinterest in production within theshale.“Large corporations are switch-

ing over their entire fleets to CNGon a weekly basis around the coun-try,” said Dickens. “CNG vehiclesare now being produced in the facto-ry by Dodge, Ford, Honda, Chevyand Audi to name but a few.”

Oil and gas production hasalready led to hundreds of thou-sands of jobs and hundreds of mil-lions in direct royalty and bonuspayments, as well as local, parishand state tax revenues. This is why in February 2012, the

Center for Business and EconomicResearch at LSU-Shreveport beganresearch on the impact of theHaynesville Shale on indicators ofgrowth, such as poverty levels,housing, employment and construc-tion.As a result of the research, the

Haynesville Shale Still A Top ProducerDrill, Baby Drill!

See Shale, Page 6


eight parish region affected by theshale — Bienville, Bossier, Caddo,DeSoto, Natchitoches, Red River,Sabine and Webster — has seenmany areas of growth and indica-tors of economic health.The parishes have all seen an

increase in royalty income of 200%from 2007 to 2011. Total popula-tion of the eight parish region hasincreased 2.3%. Retail sales, a goodindicator of the health of an econo-my (similar to consumer spending),for the region have grown by 53.3%between 2007 and 2010, with min-ing, construction, transportationand lodging/food service industriesseeing the most growth.Highlights from the five individ-

ual parish profiles studied are asfollows:

Bossier ParishTotal personal income increased

20.5% from 2007 to 2010, a growthdirectly related to employmentopportunities and royalty incomeoffered by Haynesville Shale devel-opment. From 2007 to 2010, the parish

has seen a 62% increase in averageemployment in the mining sectorand a 39% increase in averageemployment in the lodging/foodservice sector, two industry cate-gories tied closely with shale devel-opment. Since 2007, the parish has seen

a 31% increase in total places ofemployment.

Caddo Parish Median household income

increased 6.2% from 2007 to 2010. Overall, since 2007, the total

places of employment increased by4.06%.As a result of shale activity,

Caddo Parish experienced anincrease in spending on projects inthe non-residential sector, includ-ing office/bank buildings,

schools/colleges, streets/highways,bridges and river development.

DeSoto ParishMedian household income

increased 6.6% from 2007 to 2010. The total number of housing

units increased 6.9% from 2007 to2011. Since 2007, the total number of

places of employment increased12.6% for all industries in theparish. Non-residential construction

projects increased 250% from 2007to 2011.

Red River ParishMedian household income

increased 10.3% from 2007 to 2010. The parish’s total civilian labor

force increased 8.4% from 2007 to2011. Since 2007, the parish saw

increases in overall average annu-al employment (9.9%), averageannual wages (35.2%) and places ofemployment full- or part-timeemployment (5.8%).

Sabine Parish Per capita income grew 13.5%

from 2007 to 2010, a growth direct-ly related to employment opportu-nities and royalty income offeredby Haynesville Shale development.There was one non-residential

construction project in 2007 with avalue of $1.4 million. In 2011, therewere three non-residential con-struction projects with a totalvalue of $3.0 million. The parish experienced a

214.7% increase in total retailsales from 2007 to 2011.

SEAN GREEN is managing editor of the BossierPress-Tribune and a contributor to BusinessMonthly.

Continued from Page 5

Shale: Parishes continue to seebenefits from royalty income

FEATURE HAYNESVILLE SHALE


The Louisiana Oil and GasAssociation (LOGA) has statedrecently that the oil and gas industrymust increase its educational output. Another negative film has been

released regarding the oil and natu-ral gas shale boom that isincreasing across the nation. The latest film, “Promised

Land,” featuring several A-listactors, attacks the oil and gasindustry regarding leasing andhydraulic fracturing. The differences between this

film and others, like “Gasland,”are very little. The groups thatstand behind these movies aredoing one thing right—a massscale public relations cam-paign. The oil and gas industry can learn

from this basic concept of public rela-tions. The idea is to produce materi-als that are meant to educate thepublic about a particular topic usingmeans like the Internet, television,publications and grassroots cam-paigns. “Promised Land” is utilizing all of

these PR tactics. According to thecast, the film is meant to start a con-versation about hydraulic fracturing. According to LOGA, no one will

argue that a conversation needs to behad about this technical process, butthe conversation needs to be driven

by experts, not Matt Damon. Once the oil and gas industry is

on the defense about a particulartopic, too much time is spent debunk-ing false information rather thanproducing quality and factual con-

tent that can be distributed throughthe medium of choice. The facts about hydraulic fractur-

ing favor the oil and gas industry. Itis a safe process and economicallyproductive for our national economyand job market. While facts are not required by

Hollywood to produce a successfulfilm, it will be vitally important forthe oil and gas industry to proactive-ly communicate the truth to the gen-eral public.

EMILE CORDARO of AEP SWEPCO, is Finance Chair for theBossier Chamber of Commerce.

PERSPECTIVE FROM THE BOSSIER CHAMBER

LOGA Urges Oil and GasIndustry to Speak Out

EMILE CORDARO

Opinion


We have all heard it said manytimes, “ you can never train enough.”The older and more experience that Igain both in my career and in my life,I find this phrase to be more andmore true as the years go by! I thinkof the many occasions during mycareer where I was not prepared forthe tasks that were on the roadahead. Did these opportunities havegood outcomes? No, usually not.Sometimes, I got lucky. Conversely, Ithink of the many opportunitieswhere I did take the time to study,learn and prepare properly. In short,I trained well. In almost every case,the outcomes were positive. As such,I achieved the desired results! I won!And from a sales representative’sperspective, my customers won!! What does it take to be the best

you can be at what you do? How doyou set yourself apart from your com-petition both as a sales consultantand as an individual? Are you readyto make the commitment? Are you

ready to accept the challenge? In past columns, we have talked

about inadequate training being afactor in the failure of sales represen-tatives, both the rookies and the pros. As author Tom Hopkins says, “

You are your greatest asset. Put yourtime, effort and money into trainingand grooming your greatest asset.”Furthermore, to quote Aristotle,“Excellence is an act won by trainingand habituation. We do not act right-ly because we have virtue or excel-

lence, but we rather have thosebecause we acted rightly. Weare what we repeatedly do.Excellence, then, is not an actbut a habit.”We should all strive for excel-

lence. If you have not read thewell known book from 30 yearsago by business managementguru and author Tom Peters “InSearch of Excellence,” I suggestthat you do so. It is a long read,but it will be well worth your

time. Though the book has been outfor many many years now, the infor-mation contained within is still verypertinent to today’s business worldand professional environment. If we really want to be the best

that we an be at what we do, there isabsolutely no excuse for not trainingenough and not being properly pre-pared. We owe it to ourselves, ourteam, our companies and most impor-tantly, our customers.

If we are untrained and unpre-pared, those around us will definitelynotice. We will not be able to achieveour goals. In short, we will not meeteither our own expectations or theexpectations of those around us. If weare the leaders that we strive to be,the leaders that we aspire to be, thenwe must live up to the requiredexpectation level. The bar is set high,and I must ask again, are you up tothe challenge? In conclusion, training, training

and more training.... consistently, fre-quently and constantly! Again, youcan never train enough! You cantrain too little, but you can nevertrain enough!! Practice, practice andmore practice! Good luck and goodselling!!

RANDY BROWN is Advertising Manager of the BossierPress-Tribune and an 11-year veteran of marketing andmedia in Northwest Louisiana. He may be reached viaemail at [email protected].

RANDY E. BROWN

Opinion

Train to be the Best You Can BePERSPECTIVE MARKETING B-S (BOSSIER-SHREVEPORT)


I’ve been in sales my entirelife… “We’re all in sales and sell-ing all of the time. Our #1 productis us.” That’s my mantra. Earlyon in my career, I discovered mygift for coaching and train-ing. God gave me thepatience and passion tohelp others. I surprisedmyself when I got moreexcited than my studentswhen they were successful. I also quickly developed

an appreciation for thebasics. If I were a footballcoach, I would be coachingthe fine art of tackling andblocking. I’m certainly nota football expert, but itseems to me if you can’tmaster these fundamentalskills you won’t make thesale…...I mean the team. Professional athletes plan, pre-

pare and practice more than theyplay. The game may be only 3hours long, but if they want towin, they seriously PPP through-out the work week to be ready atgame time. Success in selling isthe same….regardless if it’sinside or outside sales, howplanned, prepared and practicedyou are will decide whether you’rewinning or losing. For some built-in reason, we

salespeople dislike all of the PPPstuff and enjoy practicing on ourclients and customers. We rely onthe higher skill of “shooting fromthe hip”. It seems that our singu-lar goal is to just get in front ofthe client. Many business ownersworry more about getting some-one in the door or on the phonethan they do about getting readyfor their arrival or call. For those of you who continue

to ignore the “3 P’s” please under-stand that your clients or cus-tomers know what is happening.They want to work with sellerswho appreciate the client’s timeand come to the table prepared.Planned and practiced would be abonus. My wife and I visited the appli-

ance section of a big box store. Iasked the salesperson to recom-mend the best “value”. Hisresponse was… “This is thecheapest!” He clearly did notunderstand the question. He justwanted to sell something…nothelp us. He lost the opportunityto sell a product that probablycost more and would have madehim and his company a higherincome. He hadn’t been trainedand certainly hadn’t practiced his

potential responses to customerquestions. One of my early students came

to me and confessed that he lovedthe product but just couldn’t

make the connection with theclient. He couldn’t get the “yes”. Iput a cassette recorder (yes, I’vebeen around a while) in front ofhim and asked him to make hispresentation. I assured him Iwould smile, listen and wouldn’tgive him any difficulties. He tookthe cassette home to review. Thenext day, he stood in front of mydesk and shared what he hadlearned. “No wonder my clientsdon’t buy from me. Even I didn’tunderstand what I was present-ing.” I guess it depends on what you

really want from the preciousmoments in front of the client orcustomer. Do you want to makethe sale and serve the client’sneeds? Do you want to be good atyour job? Do you want to earnmore money? Do you want thecustomer or client to come back? I love quotes. With a few care-

fully chosen words, MalcolmGladwell effectively made thepoint in just two lines. “Practice isn’t the thing you do

once you’re good.It’s the thing you do that

makes you good.”Malcolm Gladwell / Canadian

Journalist &Author of “The Tipping Point:

How Little Things Make a BigDifference”

JERRY FRENTRESS — Speaker & Coach, Win-WinPower(ful) Tools for Sales, Service and EmployeeInterviewing. Website:www.WinWinPowerTools.com.

Business Facebook:www.Facebook.com/WinWinPowerTools . 742-0009 / Bossier City

PERSPECTIVE WIN WIN POWER TOOLS

JERRY FRENTRESS

Opinion

Whatever You Do, Don’tPractice on the Customer


The recent opening of BossierCity’s Arthur Teague Parkwayextension has not only meant bet-ter traffic flow for drivers, but fornearby attractions, like the RedRiver National Wildlife Refuge. “It’s opened us up to a lot of new

visitors that didn’t know we werehere,” Refuge Ranger and VisitorServices Specialist Terri Jacobsonsaid.The 650-acre refuge, which was

established by law in 2000, sits inthe expansive Red River Valleyand is a habitat for all thingswildlife, from bottomland forestrylike hardwoods, cypress sloughsand swamps to a variety of animals,including migratory birds, coyotes,bobcats and more.“We’re not a zoo and we’re not a

nature park that has a lot of captiveanimals. We’re totally a wild natureplace in that we provide a naturalhabitat for the animals and educatepeople on all of the things you cando to help,” Jacobson said.

Most recently, the headquarterunit added a new, 9,000-square-footvisitor and education center inJanuary 2012. A roster of educa-tional programming and meetingspace for schools, scouts, clubs andother groups are offered.“In January of this year, we host-

ed the Louisiana OrnithologicalSociety’s annual winter meetinghere and people came from all overthe country, including the GulfCoast, Texas, Arkansas,

Mississippi, Oklahoma andeven California,” Jacobsonsaid. “We’re hoping to hostmore events like that.”Jacobson estimates around

10,000 visitors may passthrough the refuge throughoutthe year. Many of them arefishermen, hikers and photog-raphers. Some go canoeing“We’re open during the day-light hours and people comehere just to go hiking, walk-ing. Bird watching is a big

thing,” Jacobson said. “A lot of peo-ple come at lunch to just sit, relaxand eat. We don’t have picnictables, but we have lots of benchesand it’s a great place to get away.”Visitors can also shop for gear

and accessories, such as backpacks,binoculars, field guides and more,at the center’s Nature Store, whichis run completely by the Friends ofthe Red River National WildlifeRefuge and volunteers.In all that they offer, Jacobson

said their main focus is on nature.“Our mission first is wildlife, thenpeople. So in that regard, we’re nota place that has the standard parkequipment or attractions. We wantpeople to experience nature,” shesaid. “We want to keep it a safeplace for the wildlife that live hereand a safe place to visit.”They see the influx of new visi-

tors and groups as a win for every-one. “We’re helping the economy.It’s a plus for tourism, local busi-nesses and hotels,” she said.Learn more about the Red River

National Wildlife Refuge atwww.fws.gov/northlouisiana/RedRiver or www.friendsofredriver.org.Visit www.Shreveport-Bossier.orgto learn more about this and otherattractions in Shreveport-Bossier.

DONECIA PEA works with media relations at theShreveport-Bossier Convention and Tourist Bureau.

PERSPECTIVE TOURISM

Wildlife Refuge an Asset to Local TourismDONECIA PEA

Opinion

Photos By Ronnie Maum

Bringing a Flock of Visitors


PERSPECTIVE UN-COMMON SENSE MARKETING

The falling pollen is nature’sway of recreating new life. Maybeit’s time to do a Spring Tune Upand bring new life into your mar-keting! Here are 3 social mediatools you may want to try.

1) Google+ and GoogleHangoutsIn downtown Shreveport recent-

ly, CoHab hosted a KnowledgeSwap to discuss Google+. Are youwondering how it can benefit you?Clearly, Google+ does not have thegigantic following that Facebookhas…yet…but you should definitelyclaim your space there. What are some benefits to using

Google+? As a Google product, your pres-

ence there will boost your Googlerankings. It’s easier to share posts or pho-

tos with limited “circles” or groupsof friends than in Facebook.Different people can see differentposts. Google+ Local is a valuable way

to show up in a Google search ifyou are a brick and mortar busi-ness.Hangouts! This is the Google+

version of a video conference for upto 10 people. Non-participants canalso watch the Hangout. They canbe recorded live and pushed out toYouTube, as well. Use it to connectwith team members in other

offices, manage customer support,or talk to your clients in a “face-to-face” meeting. This might be a goodfree substitute for those otherpricey webinar tools. You can evenshare desktops. Users can +1 your pages, there-

by moving them higher in searchrankings.

2) LinkedIn added somecool new features. Here’s oneyou need to try. You can now attach docu-

ments, videos, a portfolio, images,or links to something on theinternet. Use this to showcase aparticular product, share a video,or highlight an important docu-ment or blog post. The attachments to your profile

allow viewers to learn about youand your offerings. Try attachingyour PowerPoint presentationsthrough SlideShare.http://www.slideshare.net/

3) Custom apps on yourFacebook pageAdd more zip to your

Facebook page with customapps. This kind of app showsin one of 12 buttons rightbelow the cover photo on yourPage. These apps (or applica-tions) make your page lookand feel more like a website.You could have your websiteor blog actually show inside

Facebook. Or you could show someproducts, have a welcome pagewith videos, answer frequentlyasked questions, address your poli-cies, or really anything you can putin writing, photos and graphics! To get some ideas of how to usethis, look at other Facebook

pages and see what some

ofthe big brands

have done for apps.Look at what othersin your industry aredoing. The best part? Most

of the apps you add arefree! It requires verybasic techie skills, but

you could Google this topic and finda ton of articles and videos thatwalk you through adding apps toyour Facebook page.Turn up your marketing with

one, two, or all three, of these ideasand see how fast your marketingsprings back to life!

AMY KINNARD is the owner of UncommonSense Marketing. Sheis a self-pro-claimed SocialM e d i aEvangelist. Youcan reach Amy [email protected].

Three Ways to Turn Up the Volume of Your MarketingAMY KINNAIRD

Opinion

Louisiana Boardwalk SoldThe Louisiana Boardwalk has been sold to aWall Street investment firm.

"I think there's a lot of blue sky in front of thisproperty now with the right ownership groups,the right property and leasing groups, and (newresort casino) Margaritaville to open soon nextdoor. I think there's a lot of good synergy here,”said General Manager Ray Tromba.

He revealed the sale during a radio interviewMonday.

"The property was sold, and the new ownersare The Garrison Investment Group a firm out ofNew York, good ole Wall Street group," saidTromba.

Additionally, the Garrison Group has hired oneof the top outlet leasing companies in America,EWB.

"That's an important distinction there, becausethe entire property direction will be toward anoutlet center," said Tromba.

HFB names Barlow President &CEOHome Federal Bank has announced that JimBarlow, who previously served as President andChief Operating Officer, of HFB, has beennamed President and Chief Executive Officer.Mr. Barlow has also been named President andChief Operating Officer of Home FederalBancorp, Inc. of Louisiana, where he formerlyserved as Executive Vice President and ChiefOperating Officer. Mr. Barlow takes on the roleof Chief Executive Officer of HFB, a positionoccupied by Daniel Herndon since 1993. Mr.Herndon will continue to serve as ChiefExecutive Officer of Home Federal Bancorp.

Mr. Barlow joined HFB in February 2009, andsince then, he has been responsible for devel-oping HFB’s strategic goals and direction. Byexecuting HFB’s strategic plans, Mr. Barlowoversaw the transition of Home FederalSavings & Loan Association into a full-servicecommunity bank, renamed Home FederalBank.

“Jim has been an integral part of our transitionfrom a traditional savings and loan institution toa full-service community bank,” said Mr.Herndon. “Since his start, Jim’s commercialbanking expertise combined with his strongmanagerial and people skills has propelled thegrowth of HFB. He has truly been committed toproviding a better way to bank, and I have com-plete confidence that he is the right person to

lead this company.”

OIB Promotes McGowanThe Board of Directors of OuachitaIndependent Bank has approved the promotionof Cindy D. McGowan to Senior Vice Presidentand manager of retail branch operations. In herrole as Branch Administrator, Mrs. McGowan isresponsible for all aspects of branch operationsin north Louisiana. “Cindy has been a stalwartin our retail area since the bank moved into theShreveport/Bossier City market,” said ClydeWhite, CEO and Chairman of OIB. Mrs.McGowan has over has over 38 years of bank-ing experience in Shreveport and Bossier City.OIB has four full service banking centers locat-ed at 9010 Ellerbe Road and 6801 Fern Avenuein Shreveport and at 800 Garrett Drive (Hwy 80at Industrial) and 4200 Benton Road in BossierCity.

Margarita Resort Casino JobOpportunitiesAs Margaritaville Resort Casino prepares toopen in June, the property is stepping uprecruitment of qualified individuals to fill a varietyof roles.

According to Human Resources Director,Kimberly Haigh, “Margaritaville Resort Casino isready to fill hundreds of positions with friendly,enthusiastic employees to provide the highestlevel of guest service.”

Positions opening up immediately include thefollowing departments:

Table GamesSlots

SecuritySurveillance

CageHard/Soft Count

Players Club RepresentativesPlayers Club SupervisorsExecutive Sous ChefBuffet Room Chef

Fine Dining Room ChefVariety of Sous Chefs for multiple restaurants

Margaritaville Restaurant SupervisorGaming Application Specialist

IT OperatorNon-Gaming Application Specialist

At this time Margaritaville Resort Casino is onlyaccepting online applications. Qualified appli-cants are encouraged to apply online atwww.margaritavillebossiercity.com

— BUSINESS MONTHLY


NEWS BUSINESS BRIEFS

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If you own a business, you maywell follow a “do it now” philoso-phy — which is, of course, neces-sary to keep things runningsmoothly. Still, you also need tothink about tomorrow —which means you’ll wantto take action on yourown retirement and busi-ness succession plans. Fortunately, you’ve got

some attractive options inthese areas. For example,you could choose a retire-ment plan that offers atleast two key advantages:potential tax-deferredearnings and a widearray of investmentoptions. Plus, some retire-ment plans allow you to make tax-deductible contributions.In selecting a retirement plan,

you’ll need to consider several fac-tors, including the size of yourbusiness and the number ofemployees. If your business hasno full-time employees other thanyourself and your spouse, you mayconsider a Simplified EmployeePension (SEP) plan or an owner-only 401(k), sometimes known asan individual or solo 401(k). Or, ifyour goal is to contribute as muchas possible, you may want to con-sider an owner-only defined bene-fit plan.If you have employees, you

might want to investigate a SIM-PLE IRA or even a 401(k) plan.Your financial advisor, workingwith plan design professionals andyour tax advisor, can help youanalyze the options and choosethe plan that fits with your com-bined personal and business goals.Now, let’s turn to business suc-

cession plans. Ultimately, yourchoice of a succession plan strate-gy will depend on many factors,such as the value of your busi-ness, your need for the proceedsfrom the sale of the business foryour retirement, your successor,and how well your business cancontinue without you. If your goalis to keep the business within thefamily, you’ll need to consider howmuch control you wish to retain(and for how long), whether youwish to gift or sell, how you bal-ance your estate among yourheirs, and who can reasonablysucceed you in running the busi-ness.

Many succession planning tech-niques are available, including anoutright sale to a third party, asale to your employees or manage-ment (at once or over time), or the

transfer of your business withinyour family through sales or giftsduring your life, at your death orany combination thereof.Many succession plans include

a buy-sell agreement. Upon yourdeath, such an agreement couldallow a business partner or a keyemployee to buy the business fromyour surviving spouse or whoeverinherits your business interests.To provide the funds needed forthe partner or employee (or evenone of your children) to purchasethe business, an insurance policycould be purchased.Your estate plan — including

your will and any living trust —should address what happenswith the business, in case you stillown part or all of it at your death.The best-laid succession plansmay go awry if the unexpectedoccurs.All these business succession

options can be complex, so beforechoosing any of them, you willneed to consult with your legaland financial advisors. Whether it’s selecting a retire-

ment plan or a succession strate-gy, you’ll want to take your timeand make the choices that areappropriate for your individualsituation.You work extremely hard to

run your business — so do what-ever it takes to help maximizeyour benefits from it.

WIL ADAMS is a financial advisor with EdwardJones. He can be reached at (318) 549-9155.

PERSPECTIVE FINANCIAL FOCUS

WIL ADAMS

Opinion

Must Haves: Retirementand Succession Plans


NEWS FROM THE BETTER BUSINESS BUREAU

The Better Business Bureau cele-brated its Centennial year by ring-ing the closing bell of the New YorkStock Exchange, laying a wreath atthe Tomb of the Unknowns inArlington Cemetery, and helping arecord-breaking number of con-sumers across the United Statesand Canada. The organization setnew records in virtually all cate-gories of service:Total instances of service (online

and in person) topped 180 million,up from 142.5 million in 2011, a27% percent increase.Inquiries jumped more then 20%,

from just over 103 million in 2011 to124.5 million in 2012 (inquiries areprimarily consumers looking up aspecific business or searching for abusiness in their area at bbb.org orvia the mobile app).The number of complaints

against businesses handled by BBBin 2012 was 984,721, up more thansix percent from 927,256 in 2011.

National charity reports viewedon Give.org were up from three mil-lion in 2011 to five million in 2012,due in part to a new, easier-to-readreporting format.Visitors to the organization’s

website averaged 8-10 million amonth, also a record.“These numbers confirm BBB’s

leadership in help-ing consumersmake smarterbuying decisions,”said Carrie A.Hurt, Presidentand CEO of theCouncil of BetterBusiness Bureaus.“They demon-

strate the trust that consumersplace in us to give them good infor-mation, to steer them toward goodbusinesses and away from bad ones,and to help them resolve problemswhen they arise. It’s gratifying aswe enter our second century to

know that our brand is more rele-vant than ever.”Hurt credits the venerated orga-

nization’s Centennial with helpingto remind people just how valuableBBB can be. 2012 was also the firstfull year that BBB BusinessReviews and ratings were availableon an iPhone app. The organiza-tion’s popular Scam Alerts, blog andsocial media sites attracted a newgeneration of BBB users. Two newmicrosites – BBB Smart Investingand BBB Scam Stopper – generateda lot of interest, as did the group’sannual list of Top Ten Scams. One startling statistic had to do

with online-only businesses, whichhad approximately seven times thenumber of complaints per businessas “bricks and mortar” retailers.“When shopping online, it’s evenmore important to take the time toknow who you are dealing with,”said Hurt. “It takes less than aminute to look up a company at

bbb.org. Do that before you enteryour credit card information andclick ‘Buy.’”One number that was down was

good news – BBB AUTO LINE han-dled fewer lemon law disputes(17,158, down from 17,367 in 2011).“Automakers are making betterquality automobiles and improvingcustomer service,” noted Hurt. “Thispositive trend has been going on foryears.”BBB maintains Business

Reviews on more than 4.5 millionbusinesses and rates them based oncomplaint histories, responsivenessto customers, licensing, legal andgovernment action, and other fac-tors. Nearly 400,000 are AccreditedBusinesses that meet the BBB Codeof Business Practices and are per-mitted to display the BBB logo intheir marketing and place of busi-ness.

— BUSINESS MONTHLY

BBB Breaks All Records for Customer Service


You've worked hard to establishyour business. You've made toughdecisions and dodged countless pit-falls. Nevertheless, don't let theexcitement of moving forward dis-tract you from the present:What are you doing to pro-tect what you've alreadybuilt?Beyond the physical dam-

age that burglaries, rob-beries, floods and fires cancause, the interruption toyour normal business opera-tions is devastating. Luckily,many of these unexpectedsetbacks are preventable.Follow these guidelines to

not only help you preventloss, but to help your busi-ness get up-and-runningagain as quickly as possible.

SecurityKeeping your place of business

secure often comes down to takingthe right preventative measures.Below are some helpful tips. Read

more information about preventingworkplace burglary and reducing therisk of robbery.If possible, avoid having a concen-

tration of valuable items located inone area, especially near windows,as it can provide a would-be thief anopportunity to "smash and grab"your property.Improve your lighting. Good inte-

rior and exterior lighting is one ofthe most effective deterrents againstcrime.A door-buzzer is a relatively inex-

pensive way to increase your busi-ness’s security without interferingwith the flow of traffic. Combinedwith an intercom system and a rein-forced door, a buzzer can ensure thatonly legitimate customers and col-leagues can get inside.Many window locks are simply

latches that can be pried open. Ask alocksmith or security supplier howyou can select more secure windowlocks.Video technology gets smaller,

better, and cheaper every year. For amodest investment, you can coverthe perimeter of your business withvideo surveillance, and also digitallyrecord footage.When you buy equipment, record

the serial numbers of each item.

Surge ProtectionElectrical spikes and surges can

damage your electronic equipment.However, properly installed electri-cal service meter surge protectiondevices (SPDs) used in conjunction

with individual plug-in SPDs offer ahigh level of protection for yourbuilding(s) and business equipment.Below are a few tips. Find out

more about surge protection devices.

Make sure any surge protectorsyou purchase are listed as ULStandard 1449. This is a nationalbenchmark and means the producthas been thoroughly tested.Point-of-use devices can protect

particular appliances in your home,but a more comprehensive approachto surge protection is to combinepoint-of-use devices with anotherdevice, like a service entrance surgeprotector or an electrical panel surgeprotector.Direct lightning strikes are pow-

erful enough to overwhelm even thebest surge protection; that said, theultimate surge protection is tounplug equipment from the wall ifyou suspect a surge might be com-ing.

Water Damage ProtectionWater damage in the workplace

can be a major problem: not only canit cost you quite a bit to clean up, butit can also slow – or even shut down– your business operations.Find out more about protecting

your business from water damage.Always Have Adequate CoverageAlthough you can do much to pre-

pare, you can't prevent every calami-ty. That's why the proper insuranceis crucial, as it will help to repair orreplace your damaged or destroyedequipment after a covered loss.You'll be able to expedite the

claims process if you've kept an up-to-date inventory of your businessequipment. Remember to includeleased equipment that is not specifi-cally insured by the leasing compa-ny.

KARY LANDRY is a State Farm® agent in Bossier City.

KARY LANDRY

Opinion

Steps to Protecting YourBusiness Equipment

PERSPECTIVE INSURANCE MATTERS

NWLA Business Monthly - April 2013

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