10A
STRICTLY BUSINESS/ The Charlotte Post
Thursday, December 4, 1997
Hotels put on notice by the NAACP
Continued from page 9A
first time the survey was taken.
Memphis-based Promus Hotels
(Embassy Suites, Hampton Inn
and Homewood Suites) received a
grade of “D.”
Black consumers spend $4 bil
lion aimually in the travel and
lodging industry. Currently, the
hotel industry is considered one
of the top 10 industries for new
job creation, growing twice as fast
as other industries.
“Survey results indicate that
the hotel industry has given very
little return on the African
American consumer’s investment
dollar,” the organization's report
card states. “Don’t support hotels
that don’t support you.”
“Protecting our economic future
is extremely important in an
environment where there is an
aggressive assault on affirmative
action and economic opportunity,”
NAACP president and CEO
Kweisi Mfiime said after the
release of the first report.
“Economic empowerment is the
necessary extension of the civil
rights movement. I have said all
along that as consumers who add
significantly to the bottom line of
corporate America, we should
leverage our clout to reward our
fiiends and punish our enemies.”
tKIje CFjarlotte
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Save by pricing for your home’s fixtures
Continued from page 9A
their services, the services of sub
contractors, and the products
they buy (which they probably
get at discounted prices by buy
ing in bulk). This is true even for
a room as small as a bathroom,
and it can add a lot to the price of
a house.
One builder in Oregon says he
tacks on a margin of up to forty
percent for bathroom upgrades.
For example, when he buys a
$140 toilet, the customer pays
nearly$200 for it.
How can you avoid these high
markups? If your builder won’t
match the best price you find,
shop around for a better price or
consider buying the items your
self and having them installed by
another contractor.
Countertops
Corian or granite countertops
may be ideal for your new
kitchen. They look great, they’re
easier to take care of than stan
dard surfaces, and they’re more
durable. But they’re also more
expensive. One reason for this is
that these materials are harder
to work with, a legitimate factor.
Does this mean there’s no give
in the price? No, because the
builder may be tacking on a hefty
markup. If your heart is set on a
top-of-the-line kitchen, be aware
of this; while many desirable
extras come with a big price tag,
they may be overpriced. If your
builder hands you an estimate
that sends you into sticker shock,
challenge it. And don't forget the
shopand-compare technique.
Find a lower price and chances
are your builder will match it.
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Mergers can fuel expansive business growth
Continued from page 9A
efficient than growing a business
finm scratch and spending adver
tising and promotional dollars to
build market share.
Acquisition candidates can sup
ply three kinds of assets -
new/nearly new/used equipment
or furniture; production
rights/patents or schematics to
new products; physical and finan
cial assets like real estate, stocks,
bonds, contracts or promissory
notes and intangible assets like
mailing lista(tradenamea/losses or
goodwill generated from the busi
ness.
Most companies you will be
interested in acquiring will be pri
vately owned and not required to
publish their revenue and earn
ings numbers or other informa
tion. You'll need to follow business
newspapers like Barron’s or the
Wall Street Journal, or industry
magazines or newsletters for rev
enue or sales information about
the companies you're interested
in. States like IlUnois publish
directories of manufacturing and
services firms listing officers, key
staff members, estimated sales,
major clients and other details.
Brochures and sales materials
are also valuable information
sources, as are the firms’ owners.
Other information sources
include (a) lawyers and accoun
tants who deal with wealthy busi
ness owners, (b) business brokers
or investment firms that finance
and sell businesses and (d) word
of mouth.
The business performance num
bers - capital requirements,
staffing levels, labor costs, mar
keting strategies, materials sup
pliers - are what you’ll use to eval
uate potential candidates.
The best acquisition candidates
are businesses in a profitable, but
fragmented market niche - a
business with a two to four per
cent market share. Examples of
these types of industries include
trucking and delivery and clean
ing/cleanup services.
You can employ a variety of
financing techniques in your
acquisition efforts. They include:
• Leveraged buyout; Using the
company’s assets to finance its
purchase. Leveraged buyouts
work when there are underper
forming hidden assets in a com
pany - real estate, stocks or
bonds, a large cash reserve, or tax
losses that can be credited against
future income. Many large firms
in the 198C)s were built on lever
aged buyouts, including TLC
Beatrice Holdings, the nation’s
largest Afiican American firm.
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“Touching Tommorrow Today”
Guide goes on the Web
Continued from page 9A
it on the net.”
Johnson said
putting the
black business
directory on
the web is part
of overall
expansion
plans for The
Post and its
parent.
Consolidated
Media Group.
Johnson is
chairman and CEO of
Consolidated Media, the holding
company of The Post and The
Chronicle in Winston-Salem. The
company will begin publishing
The Triangle Tribune in the
Raleigh/Durhmn area in March.
Johnson
The Post is already available on
line each week. Access is also
available finm the home page to
other information about The Post
and Consolidated Media.
The online version of The Black
Guide parallels the printed ver
sion. Businesses are sorted by cat
egory and then listed alphabeti
cally, with names, street address
es and phone numbers.
Johnson said The Black Guide
win be expanded into other parts
of the region and both Carolinas.
Separate guides will be printed
for selected cities and communi
ties.
Eventually, those directories
will also be put on the Internet.
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