http://www,thecharloflepost.com
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THURSDAY, AUGUST 10, 2006
BUSINESS
Be very
careful
with
inflation
By Eileen Alt Powell
THE ASSOCIATED PRESS
NEW YORK ~ Several
recent government reports
indicate that inflation is
heating up. What can con
sumer? do to protect their
savir^ - and preserve their
buying power?
“The latest inflation num
bers are a bit of a wake-vip
call to look at yoTir spending,
your saving and your invest
ment strategy,” said Greg
McBride, senior financial
analyst at Bankrate.com in
North Palm Beach, Fla.
"Inflation isn’t something to
ignore.”
Inflation - basically a mea
sure of rising prices - means
people need to spend more to
buy the same amormt of
goods and services. As infla
tion increases, consumers
need to take a hard look at
how they’re allocating their
budget dollars. They also
should review their saving
and investment accoimts to
make sure their returns are
at least keeping pace with
inflation.
Last week, a government
inflation gar^ tied to per
sonal spendir^ rose 0.2 per
cent in Jime, excluding food
and energy Over the past
year, this measure of “core”
inflation is up by 2.4 percent.
That may not sound like
much, but financial planner
John Nersesian, managing
director of wealth manage
ment services with Nuveen
Investments in Chicago,
points out that "small num-
bere can have a big impact.”
Take the case, for example,
of a person who is retiring
today who plans to spend
$100,000 a year in retire
ment. If inflation is 2 percent
a year, in 20 years that
retiree wfll need $164,000 to
cover the same expenses,
Nersesian said. If prices go
up 4 percent a year, the total
that is needed increases to
$230,000, 'he said.
“The lesson,” he said, “is
that investore need to pro
tect themselves against
inflation because it can have
a devastating impact on
their financial futures.”
One way to coimter infla
tion is to broaden assets they
invest in, Nersesian said.
“Fixed-income investments
such as borfds are particular
ly vulnerable during periods
of hi^ inflation,” he said.
Instead, investors should
consider putting more of
their money into high-yield
online savings accounts or
short-term certificates of
deposit as well as diversify-
tr^ into alternatives such as
real estate investment
trusts.
“Hard assets like real
estate, commodities, gold
and other precious metals —
or stocks and mutual funds
that invest in those assets -
typically do well in times of
rising inflation,” Nersesian
said.
James Swanson, chief
investment sti-ategist with
MFS Investment ’
Management in Boston, said
another alternative is to
invest in inflation-linked
bonds, such as TVeasury
Inflation-Protected
Seciuities, or TIPS. These
bonds, in matmities of 5
yeai-s, 10 years or 15 years,
can be purchased at the
Treasmy’s Web site,
wwwtreasmydirect.gov, as
well as through banks and
brokei's. They’re set up so
that the principal increases
as the Consumer Price Index
goes up.
• #Ol
Resisting iPod’s wave is futile
By Fred Green Jr.
NATIONAL NEWSPAPER PUBUSHERS ASSOCfA-
There are certain gadgets you can’t
If there it something out there more
popiolar than Apple’s iPod, I haven’t
seen it. I do get a httle concerned,
though, when I see people jacked into
their iPod when they should be paying
attention to driving. When you consid
er the different types of docking sta
tions they make for those things, you
would think people wouldn’t get caught
driving with the headphones on.
As a technophile, I have to admit they
are really cool. As a person who might
be driving in the opposite direction,
there’s nothing cool about the prospect
of getting smashed by a distracted dri-
The iPod’s combination of design and
functionality is superb. It comes in
30GB and 60GB models. But let’s be
real; the one to own is the 60 GB model.
Hands down. This httle beauty holds
up to 15,000 songs with full-color
album art and up to 25,000 photos.
However, it is not just a question of
music but video as well.
The New iPod comes with support for
up to 150 hours of video on a 2.5-inch
color display I must admit the thought
of watching something on a 2.5 inch
screen is unappeahi^. But I realized
my cell phone and PDA had long ^o
trained my eye to comfortably view con
tent in that format.
Having now watched several pro
grams that way I like the take it all on
the road and watch or listen when and
where ever you want aspect of the iPod.
An improved 20 hours of recharge
able battery hfe, five hours more than
before, makes the portability factor
ev^ more attractive. At less than a
half-inch thin, the new 30GB iPod
takes up less than half the room of the
original iPod. Even the 60GB model is
at least 10 percent thinner than previ
ous gen^ations. More features in less
space always soimds good to me.
As great as the iPod is, it is fiom
Apple. That means its best playmate is
a Mac and its best source for content is
fi'om iThnes,
Not that your iPod won’t play nicely
with any Mp3, but when deahr^ with
content fixim other sources, the one-
touch or one-drop and drag ease of use
can turn into a several step process,
espedally when it comes to video.
Fortunately i’lhnes plays well with
^^hldows and WinXP in particular.
As great as the iPod is, it is
from Apple. That means its
best playmate is a Mac and
its best source for content is
from ITunes.
Ronnie Bryant has presided over a 40 percent increase I
region as CEO of the Charlotte Regional Partnership.
PHOTO/CALVIN FERGUSON
I new business in the 16-county Charlotte
Pitchman for progress
Ronnie Bryant leads Charlotte region’s recruiting effort
By Angelo Lindsay
FOR THE CHARLOTTE POST
Ronnie Bryant’s job is to grow
the Charlotte region’s business
dimate.
Bryant is chief executive officOr
and president of the Charlotte
Regional Partnership, a ncai-prof-
it, publidprivate economic devel
opment organization responsible
for marketing and business devel
opment activities, for the 16-com-
ty Charlotte region. Through such
services as site location assistance
and customized research for busi
ness prospects, the oiganization
seeks to promote the growth and
prosperity of this region and also
to sustain and enhance its eco
nomic growth, vitahty and global
competitiveness as a superior
business location.
“Our primary engagement is in
identifying prospects,” Bryant
said. “We are involved in regional
strategic initiatives and we coor
dinate the activity of our local eco
nomic developers throughout the
region.”
A 30-year veteran of the eco
nomic development industry,
Bryant was previously employed
as President and Chief Operating
Officei* of the Pittsburgh Regional
Alliance for four years. He spent
six years prior to that as senior
vice president of the Economic
Development Division for the St.
Louis Regional Chamber &
Growth Association. There, he
has been credited with the devel
opment of job creation strategies
that resulted in more than
117,000 jobs within a five-year
period - which he sees being
recreated here.
“I think the growth in this
region benefits aU communities I
think the job opportunities that
we’ve been able to introduce into
this area not only helps individu
als in the white community but
also the black community and not
only in MeckleiJburg County but
throughout the region,” he said.
In the year since joining the
CRA, the Charlotte region has
already enjoyed a -40 percent
increase in the rate of deal oppor
tunities for economic develop
ment and growth.
“[We] have positioned Charlotte
to be more of an attractive region
for major projects by providing a
very aggressive marketing pro
gram and by positioning our orga
nization as one that is profession
al ai|d responsive and reaUy rep
resents Charlotte at the highest
level,” he said.
Among the • reasons Bryant
gives for Charlotte’s growth are:
the city’s location, quality of the
work force and standard of living;
and vibrant business community
Charlotte-Douglas International
airport also “really makes irs a
very attractive location for new
business opportunities as well as
the expansion of existing busi
nesses.,” he said.
‘1 think the business trend in
this country is moving toward the
Souflieast very aggressively qnd
that makes Charlotte one of the
fastest growing and most attrac
tive business environments in
this country: Theiidfore, it’s up to
us to continue this particular
growth and to continue a commu
nity that’s vibrant and inviting.”
That efibrt is very much a col
laborative one, he says, coirsisting
of the CRP’s close working rela
tionships with the Charlotte
Regional \fisitors Authority,
Center City Partners, the
Chamber of Commerce, and each
of the local economic developers
throughout the 16 coimties of the
region.
Although Bryant’s efforts are
primarily concentrated here, oth
ers are benefiting finm his exper
tise as well. A graduate of
Louisiana State University in
Shreveport, Bryant cmrently
serves as a faculty member at the
Economic Development Institute
at the University of Oklahoma in
Norman.
EDI is one of two primary loca-
ticais for training economic devel
opers fiom around the country
and around the world and leading
them towards their economic
developer certification. A 1992
graduate of EDI and a faculty
member there since 1994, Bryant
lectures on issues related to eco
nomic development marketing,
professional development and
organizational management.
Retirement
ideas for
women
By Voshti Hurt
■ FOR THE CHARLOTTE POST
Women are living former and enjoying
more active senior years than ever before.
Unfortunately just as tins door to unprece
dented leisure time is opening up, the tra
ditional means of funding retirement -
Social Security and pension plans — are
becomir^ less able to meet retirees’ needs.
The Social Security Administration has
warned that “unless many Americans
increase their pereonal savings rates, they
may retire with inadequate retirement
assets.” But while Americans in general
are not savii^ enough for retirement,
women wfll feel the most impact fiom this.
Women need to make sure they’re saving
enou^ outside of an employer retirement
plan.
Obstacles to a secure retirement aboimd
for women. In addition to a longer hfe
ejqjectancy;
• On average, women stfll make less
than their male counterparts.
• More than 25 percent of working
women are employed in part-time posi
tions.
• Time out of the work force reduces pen
sion benefits. Women typically have fewer
working years to fund their retiremmt
accoTmts because of time spent out of the
work force to care for children, parents or
other family members. Average time off for
women is 11.5 years, compared to 16
months for men.
Research conducted by Wachovia foimd
that fewer than half the women surveyed
felt confident that they were saving
enough for their retirement. Ironically
this is not finm a lack of skill or resources.
Rather, in trying to balance mtiltiple prior
ities, women traditionally assign second or
third place to financial planning issues
like investments and retirement.
Psychologic^y women have what it
takes when it comes to investing. They
• Set financial goals
• Do their homework before making
decisions
• Admit it if tiiey don’t completely
understand
• Ask for help, choose a pereonal finan
cial advisor
Itis never too early — or too late - to get
started. For more information on how you
can. prepare for retirement, contact your
financial advisor.
VASHTI HURT is a financial advisor with
Wachovia Securities in Charlotte. For informa
tion, call (704) 427-2770 or (800) 564-0763.
Use summer to
boost business
By Joyce M. Rosenberg
THE ASSOC/ATED PRESS
NEW YORK - Summer means a slow
down in business for many small compa
nies, with customers and clients going on
vacation. It’s also a good time to do some
prospecting for new business.
“Most companies, when they’re busy
they don’t see marketing as a necessity”
said Sadie Peterson, who has a market
ing consultancy SD MarCom Inc., in San
Diego.
Peterson sees the summer as an ideal
time to send out newsletters to current
customers and foUow-up letters to recon
nect with customers who have been out of
touch. These are tasks that often fall by
the wayside in busy times, and “it can
really increase their business,” she said.