Category: Business

Horace & Selling Out

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Dave published an essay today, let’s call it an essay “mini” in keeping with the times, on product development & selling out. Well worth reading.

Dave’s words remind me of past experiences in the large, corporate world. Product A is created or acquired. Over time, the things that made Product A useful, interesting and marketable are slowly taken away (juice content (Pepsi Slice), flavors, quantity) while prices go up. We might refer to this as an MBA approach to product development, though that is too harsh. Perhaps it is more of a corporate vs entrepreneur approach.

In any event, it happens all too often.

UW Team Revives dying neurons Related to Alzheimer’s & Parkinson’s

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Ryan Joerres:

The new findings could eventually help halt the progression of such diseases by averting the deterioration of the neurons involved in such diseases.
UW professor of pharmacology Jeff Johnson, the lead researcher of the group, has been recognized across the nation for his recent findings concerning Alzheimer’s disease and the natural defense mechanisms involved in similar neurodegenerative diseases.

Changing Planes at O’Hare: God Smiles on Me!

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I’ve now experienced this sort of a very pleasant, unexpected airline experience twice…. in 15 years. Changing planes recently at O’hare, I literally jogged from one end of Terminal B to the far end of terminal F in 9 minutes, trying to catch an early flight to Madison. I arrived at the gate with 6 minutes to spare.

The gate attendant waved me through and I walked outside, toward the 50 seat jet. A member of the ground crew then told me that because the Canadair jet’s doors had just closed, I had to return to the terminal. During this discussion, the Air Wisconsin (United Express) Pilot sent another ground crew member toward me to walk me to the plane. They opened the aircraft and I walked on board…..

Flying through O’Hare several times the past few months, I noticed that flights are far more reliable and predictable than one year ago. I emailed Kevin LaWare, Air Wisconsin’s Vice President of Operations to thank him for this vast improvement in service.

LaWare is in a tough spot, working with a bankrupt major carrier (United Airlines). United is evidently shopping their regional services again (squeezing prices) – putting some more pressure on Appleton based regional carrier Air Wisconsin.

I’m impressed with their service and hope they continue to improve.

UPDATE: The Boyd Group takes apart a recent Wharton Study on the airline industry’s problems.

(more…)

Drexel Burnham Lambert Alumni Article: Brewer’s Mark Attanasio

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New Brewer CEO Mark Attanasio gets a few mentions in Jenny Anderson’s article on the Drexel Diaspora:

Several other former Drexel employees are managing billions for pension funds, endowments, wealthy people and one another – often using junk bonds. Mark L. Attanasio, a senior vice president at Drexel when it collapsed, is a managing partner at Trust Company of the West, a $109.7 billion money management firm. Last month, he bought the Milwaukee Brewers for more than $220 million.
Interviews with more than two dozen former employees showed that, far from being embarrassed by their connection to Drexel, most retain an almost cultlike devotion to the firm and much of what it stood for. Few of them were crucial players in building Drexel’s core franchise, junk bonds. And few of them were especially close to Mr. Milken, who has since survived cancer, established two major foundations devoted to cancer research and become a major investor in an education initiative, Knowledge Universe Inc.

Attanasio also worked at Global Crossing with another ex-Drexel player – Gary Winnick.

Madison Small Business Series: Mike McMahon & Pinnacle Health & Fitness

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Mike McMahon
CEO, Pinnacle Health & Fitness
On starting and growing a business

I visited with Mike recently and talked about:

  • The experience necessary to successfully start a business, and avoid losing your relatives money.
  • Hiring the right people
  • Customer Service
  • Competition
  • Career Advice

Check out this 7 minute mp3 audio file or a 7 minute Quicktime Video.

Miracle-Gro’s Horace Hagedon Obituary

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Douglas Martin:

Miracle-Gro, which produced the world’s biggest cabbage, cantaloupe and dahlia, soon became as familiar a sight in the American backyard as the station wagon in the carport. The gardening business is now estimated to exceed $35 billion in annual sales, and Miracle-Gro’s share of the home fertilizer market is estimated to be about 85 percent.
Mr. Hagedorn orchestrated the growth of his product like the marketing genius he was. He hired a Norman Rockwell colleague to paint homey advertisements, and the actor James Whitmore, whose gnarled face suggested a trustworthy farmer, for television commercials. The $100,000 prize he offered for a tomato of world record size was conditional on the use of a certain plant food.

Ivey takes a look at Madison (Verona’s) Epic Systems

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Mike Ivey takes a useful look at Madison’s quiet technology giant (I don’t think there’s really any competition in the local tech sector), Epic Systems:

The company remains privately held by its employees – shares are repurchased when anyone leaves – and maintains it has no intention of ever making a public stock offering. The share price has gone from $14 in 1996 to over $100 today, making Faulkner one of the most successful, if not wealthiest, businesswomen in the state.

Still, Faulkner rarely grants interviews, doesn’t schmooze with the local tech crowd and has no intention of changing her approach. Faulkner has said the focus should always remain on the company and its mission to serve patients.

Software is a difficult business. Judy Faulkner and everyone at Epic deserve a great deal of credit for their success. Having said that, this next step is a big one, filled with sharks. I wish them well!