wm
7C
STRICTLY BUSINESSATit dnWtt
Thursday, May 27, 2004
Consumer confidence up in May
Continued from page 8C
private employers - to add
215,000 jobs.
'Riesday’s report said that
consumers continue to rate
current conditions as favor
able. Those saying business
conditions have improved
rose to 22.3 percent in May,
up from 21.7 percent the pre
vious month. Those claiming
conditions have worsened
remained unchanged at 21.7
percent. Consumers claim
ing jobs are “hard to get” rose
to 30.6 percent from 28.0.
Those saying jobs are “plenti-
fiil,” however, also increased
to 16.6 percent from 15.6 per
cent.
Consumers’ outlook for the
next six months remain posi
tive. Those expecting busi
ness conditions to improve in
the next six months rose to
22.9 percent from 20.8 per
cent. Those expecting condi
tions to worsen, however,
edged up to 10.1 percent
from 9.3 percent.
The emplojmient outlook
continues to show signs of
improvement. Those antici
pating more jobs to become
available in the next six
months increased to 19.2 per
cent from 18.3 percent. Those
expecting fewer jobs dipped
to 17.2 percent from 17.7 per
cent. The proportion of con
sumers anticipating an
increase in their incomes
declined again and is now
16.8 percent, dovm from 17.4
percent last month.
Along with the consumer
confidence report Tuesday
came upbeat data from The
National Association of
Realtors, which reported
that sales of previously
owned homes in April
marked its second-best
month on record.
Sales of existing homes
clocked in at a seasonally
adjusted annual rate of 6.64
million last month, a 2.5 per
cent gain over March.
The pace of April’s sales
was second only to the all-
time monthly high of 6.68
million in September 2003.
John Deere Inc. fights race charges
Continued from page 8C
with an offer of another pro
motion and more pay.
Furthermore, Edwards’
good works and capabilities
in estabhshing golf and turf
dealerships in the U.S. and
abroad for Deere were cited
by the trade magazine. Golf
Inc., as “one of the golf indus
try’s 21’Most Dynamic
Movers and Shakers’..., and
‘is leading his firm to the
industry’s prominence once
held by Tbro Corp.’.”
The 56-year-old father of
four and grandfather of five
wonders now if it was all for
naught and a ruse.
As Edwards worked his
way to prominence and dis
tinction within Deere, he
decided to become an ovraer,
not sitting idly by for a
monthly pension check. In
the summer 2002, Edwards
initiated the process to
acquire two dealerships in
TViscaloosa that could only
benefit the industry from
noteworthy experience.
Additionally, Edwards want
ed to increase Deere’s “stated
diversity pohcies and pro-
gram...(although) the com
pany has failed to attain any
notable diversity in its man
agement ranks, dealers/own
ers, or on its board of direc
tors,” according to the law
suit. “Edwards had hoped
and dreamed that through
pruchasing the two Deere
dealerships, he would
become the first African-
American ovmer of a Deere
agricultural dealership.”
John Deere Inc., founded
in 1837, is one of the world’s
largest suppliers of golf and
turf marketing equipment.
In the continental United
States, Deere controls
approximately 70 to 80 per
cent of the agricultural mar
ket, with a ‘Targe percent-
Krispy
Kreme
reports
loss
Continued from page 8C
tom line.
“This is not an excuse. It’s
what it is,” he said, reiterat
ing Krispy Kreme’s claim
that the low-carb diet trend
was hinting the company’s
sales. “What is important
now is what we are going to
do about it. We are taking it
extremely seriously.”
The first quarter earnings
included an asset impair
ment charge of 7 cents per
share for seven stores that
had closed or were scheduled
to close, the company said.
The company also reported a
loss from discontinued oper
ations of about $34.3 million,
or 54 cents per share, related
to the Montana Mills opera
tion.
“In spite of the changing
industry dynamics, we deliv
ered 24 percent systemwide
sales and revenue growth for
the quarter,” said Livengood.
We are focused on our core
business and improving
company store operations.
We remain excited about our
gro-wth prospects, both
domestically and interna
tionally”
The company now expects
age” of company income sup
plied by federal government
contracts, thereby, Deere
being subjected to U.S.
Executive Order 11246, out
lining, in essence, business
entities participating with
the government by contrac
tual means must not consid
er additional parties on basis
of race, rehgion, ethnicity, as
well as impart or encourage
minority participation.
The two dealerships
Edwards looked to purchase
and their “attractiveness” is
the selling “70 percent of aU
goods to the federal govern
ment,” according to the law
suit. In 2002, Deere accumu
lated nearly $320 million
from net sales of $13 billion
gross income. Initially
Edwards and his wife filed a
September 2003 complaint
against a white couple, Don
and Joy Rose, and Tractor
and Turf of Alabama, Inc.
and Skyland Equipment of
Alabama, Inc., who were
willing to sell the dealer
ships to Edwards; however,
the Roses have since been
dismissed as defendants of
the lawsuit.
Edwards feels he was
denied ownership and the
deal process “frustrated
...due to his race” and finan
cial demands and terms are
“onerous, arbitrary and
capricious.” Furthermore,
the financing terms are a
“pretext for racial discrimi
nation to prevent any
African-American from own
ing” Deere dealerships with
in the U.S., the lawsuit says.
Edwards’ lead counsel,
Byron Perkins of
Birmingham’s Wiggins,
Childs, Quinn and Pantazis,
PC., believes plain and sim
ple racism is the mitigating
factor that prevented the
Lamar Univ. graduate from
allowing “his children and
grandchildren to inherit his
legacy, with birthright being
taken away..and (victim
ized) by malicious and reck
less interference in not being
able to keep promises to pro
vide for (family) as anticipat
ed.”
“How do you explain a
company who gets billion$ in
federal contracts..., puts
restrictions on Edwards (to
become an owner) and the
dealerships in question had
valuable major contracts,
why at aU were restrictions
applied to purchasing the
dealerships,” Perkins asked.
In a statement two weeks
ago, Deere corporate man
agement “beKeves this law
suit is without merit,”
according to Curtis Linke,
vice president of corporate
communications.
“John Deere Inc. consent
ed to Mr. Edwards’ purchase
of the dealerships, subject to
terms and conditions that
were agreed to in writing by
Deere, Edwards and the
independent owners. The
independent ovmers (Don
and Joy Rose) later with
drew the offer to sell,” the
statement continued.
“If someone has an interest
in becoming a Deere dealer,
has the business experience,
is willing to learn how to
become an effective John
Deere dealer, and has access
to sufficient capital, we are
willing to put them in con
tact ivith current owners
who indicate a willingness to
sell,” according to Deere’s
Worldwide Commercial and
Consumer Equipment
Division President John J.
Jenkins.
Another litigious matter
brought to surface is
Edwards’ allegation no
African-Americans serve on
the corporation’s board of
directors, nor on it senior
management team. “Very
few black managers exist,”
according to Edwards, and
the majority of blacks within
the company are in clerical
positions. Deere’s response
in the statement is that “of
the two females on the board
of directors, one is African-
American, along with other
members bom in India,
Germany and Mexico..., and
it be noted that two of the
eight-member senior man
agement team members” are
black.
Nationwide publicity has
been rendered Deere Inc. to
enter into improving diversi
ty efforts. Rev. Jesse Jackson
and former SCLC President
Martin Luther King 3rd are
talking to top executives.
Syndicated radio and PBS
talk show host Tavis Smiley
has also brought attention to
the lawsuit that could enter
U.S. District Court in about
two weeks, according to
attorney Perkins.
Although the lawsuit signi
fies and “dem.ands a jmy
trial,” Perkins stated last
week via telephone that
mediation is possible.
However, he feels Smiley’s
television efforts have war
ranted the only mediation
Deere managers are willing
to initiate. “We’ve tried to
begin constractive talks o
numerous occasions.”
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Support growth
with strategic hires
Continued from page 8C
right start for the new employee.
Scoring: Give yourself one point for every check above,
and then calculate how effectively you are using strategic
hiring to support successful business grovrth.
9 to 10 Excellent. I’m guessing that your organization
gets better with each new team member.
6 to 8 Good: Increase your chances of future success by
addressing missed items.
0 to 5 Poor. Warning — rapid growth will be hazardous to
your business health.
MARY BRUCE is founder of Kaleidoscope Business Options, a
management and volunteer leadership consultant to small and
medium-sized businesses. She can be contacted on the Web at
www.kboptions.com.
Have You Been Following This
Column? Have You Had The
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professional dreams.
Life Is Not An Emergency
In the extremely busy lives that most of us have
created for ourselves, we find ourselves going
breathlessly from one activity to another. At work it
may be that we find ourselves under pressure to go from
one project to the other. There seems that there is barely
breathing room between the time we finish one project
and another is due.
In our personal and family lives, it seems to be no
better. We stay late at work and then rush home to tiy to
prepare something for dinner. If there are children, there
are often times after school activities, perhaps sports,
dance or piano lessons. You would think that on
weekends there might come a break, but this is not
necessarily so. There are weekend sporting events that
involve the children. This may be time that is set aside
to do all the chores around the house that you cannot get
to during the week. By the time Monday rolls around,
the cycle of busyness starts all over again.
When we find ourselves caught up in such a cycle of
activity, we can fall into a way of living in which it
seems that we are going from one emergency or crisis to
another. Everything seems so important. With this
approach to life, there is never a time that things let up
for you either physically or emotionally. We are in
essence in overdrive 24 hours a day. Not even our
sleep time gives us a break because we are wound up so
tightly.
But life really is not an emergency. Life is a gift to
enjoy and reach the potential of realizing and living out
the talents and Joys that brings us fulfillment in life.
We are the only ones who can change this. As you
examine the activities in your life, they may seem urgent,
but are they really important? There may be some things
that you can actually let go. It may be that you can
continue to do all you do but that you may simply need
to approach them with the attitude that if they do not get
done it is not a disaster.
Refuse to make life an emergency. Make it instead a
beautiful journey fdled with wonders and interesting
stopping places along the way.
Be sure to visitor. Arrington’s website at:
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