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| Wayne Caplan |
As Council Chair of Political and Regulatory Affairs,
the time has come for an update on some of the current issues facing the
commercial real estate industry.
There are many issues to discuss at any given time.
While we are to a large degree paralyzed as far as anything
getting resolved until after the November Presidential election, below is
information on three of the more important / questioned items at the present
time.
1. The
3.8% TAX
Firstly, there have been several requests out there
for clarification on the 3.8% Tax that will be implemented as part of the
Affordable Care Act (aka “Obamacare”, or ACA).
While there are a number of new taxes buried within the ACA,
this particular tax has been falsely labeled as a tax on all real estate sale
transactions (commercial and residential).
This is not the case, as it is an investment/income
based tax, not one based on a given real estate transaction. However, there are
ramifications to this tax, specifically to higher income earners.
This, in addition to a potential capital gains tax increase
(which will happen if the Bush tax cuts expire at years end as scheduled) could
be a reason for some investors/property owners to unload commercial property
before the end of calendar year 2012, especially if they are not going to
engage in a 1031 tax free exchange.
Below is a link to NAR’s description of the 3.8% tax for
anyone who would like some clarification:
2. Lease
Accounting Standards
The Financial Accounting Standards Board (FASB) and their
international counterpart (IASB) has proposed eliminating all operating leases,
forcing companies to capitalize their lease liabilities on their balance
sheets.
This change, if it goes into effect, would create large
devaluations of all companies, big and small, with any leasehold exposure, not
to mention greatly affect the length of lease terms that corporations are
willing to commit to. All in all, this would have dire ramifications on both
the leasing and investment sales parts of our brokerage businesses.
Below is a link to ICSC’s public policy page discussing this
matter which has lots of links and discussion on the subject.
While NAR, ICSC, and other real estate trade organizations
have, if nothing else, delayed and clouded this potentially harmful new policy,
it is still expected to be implemented in some fashion.
There cannot be enough discussion on this item with our
elected officials and regulatory community.
3. Sales
Tax Fairness
The Main Street Fairness Act to level the playing field on
sales tax collection between on-line and physical retailers has seen lots of
progress.
There are bills in the House and Senate to ensure that
physical retailers are able to fairly compete with on-line retailers.
While we all have enjoyed tax-free internet shopping, most
people agree that traditional retailers are being endangered by on-line
retailers having the advantage of not having to charge sales tax in many
instances.
Below is a link to ICSC’s page on Sales Tax Fairness, and
where it stands to date.
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| Steven Rosenberg is the Founder of Green Purpose LLC |
Steven
is the Founder of a unique company called Green Purpose.
"Green Purpose is an eco-minded enterprise that provides
communities with innovative solutions for reducing landfill waste. The company
operates on a membership business model, in which residents of Champaign County
and surrounding areas can pay a nominal monthly fee to utilize their recycling
services. Green Purpose is different from most traditional recycling centers; they offer the community a convenient one-stop
location for dropping off both recyclable AND reusable items. With research and
an attention to each customer's needs, they are developing new solutions for a
world in constant change.
Green Purpose also provides B2B services for industrial clients
interested in striving for zero waste. They offer advanced solutions for
assessing, designing, and implementing state of the art recycling programs for
reducing expenses and landfill waste. The company’s programs and services are
aimed at creating long-term, practical solutions to our community’s growing
waste problem. Their experience includes working with many different
industries, ranging from advertising to retail. They help their clients to
develop appropriate infrastructure and procedures, while exploring the full
range of appropriate options and strategies for maximizing waste reduction."
To watch the entire TV interview with Steven Rosenberg CLICK HERE!
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| Governor signs SB3405 into law |
I am happy to report that SB3406 has been signed by the
Governor and is now the law. The bill was an initiative of IRPOA and
adds language to both the sanitation and building codes that requires the
following also be included in a violation notice.
a citation to the
specific code provision
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or provisions alleged
to have been violated, a description of
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the circumstances
present that constitute the alleged
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violation
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IRPOA proposed this change in the law because we had
reports our members were receiving violation notices that were not
specific and so were difficult to comply with. The notices would include
general statements like "Porch in Disrepair" or "Plumbing
not to Code". Those types of notices seemed
more common when inspections are done in response to
tenant conduct. Also, many of our member groups operate
under regulations that include annual inspections. Those
ordinances apply multiple code standards to rental
properties. It is very difficult to know where to look up a code when the
city can impose regulations from nine different code books.
With this change, you should now be able to reference a
code book and read the code that is in violation. You should also
receive a description of what is wrong on your property so you know
exactly what action to take to correct the violation. We
believe this will make dealing with code enforcement much easier.
State Senator Dave Syverson sponsored this bill in the
Senate. Representative Chapin Rose was our primary house sponsor and
Representative Sidney Mathias was a house co-sponsor. If you live in, or
own property in, these legislators districts, please contact them and thank
them for their support.
To read the text of SB3406, now Public Act 097-1088 CLICK HERE
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| Mark has always remembered his Central Illinois Roots |
Mark
Roberts was born in central Illinois and raised here. He is also a renowned playwright, comic and television scribe. He is the
creator and executive producer of the CBS series Mike & Molly and the author of several hit plays.
Roberts’ comedy
career began at an early age when he worked as a stand-up comedian in Chicago
while pursuing a career in acting and writing. After re-locating to Los
Angeles, Roberts became a regular comedian on The Tonight Show and was a series regular on The Naked Truth with Tea Leoni. He was also a guest star on
television series such as Seinfeld, Friends, The Practice, The Larry
Sanders Show and The Fresh Prince of
Bel-Air and starred in feature films Next
of Kin and Bulletproof.
In
theater, Roberts has written and produced several hit plays all of which are
marked by his quick wit and comic sensibilities. Such productions include Welcome to Tolono, Whitey, Where the Great
Ones Run, Parasite Drag, and Rantoul
and Die. Several of his works have been picked up by the Dramatists Play
Service, Inc. and published into acting editions.
After
writing and starring in the one-act comedy, Couples
Counseling Killed Katie, Robert’s comic spin on eight couples going through
therapy turned the production into a sold out, cult phenomenon and showcased
his talents to television executive Chuck Lorre who hired Roberts as a writer
on Two and a Half Men. The show
quickly became a ratings success and Roberts rose through the ranks to
executive producer and head writer, most recently departing to create his own
series, Mike & Molly.
Mike & Molly, which stars
Melissa McCarthy and stand-up comedian Billy Gardell, focuses on the blossoming
relationship between two people who meet at Overeaters Anonymous. Roberts’
comic-sensibilities made the series the most watched new comedy of Fall 2010
and earned McCarthy an Emmy Award for Outstanding Lead Actress.
This
summer, Roberts returned to the stage to star alongside Jessica Tuck in the Los
Angeles revival of Couples Counseling
Killed Katie. In addition, Rogue Machine and Shakespeare & Company will
present renewed productions of his original plays Where The Great Ones Run and Parasite
Drag in Los Angeles and Massachusetts, respectively. To view the entire TV interview with Mark Roberts CLICK HERE
On June 29, 2012, both the Senate and House passed the Biggert-Waters Flood Insurance Reform Act of 2012 as a part of H.R. 4348, the Surface Transportation Conference Report. The President will sign the measure in a few days. This is the culmination of a successful multi-year REALTOR campaign and a final push at NAR’s Midyear Legislative Rally and Meetings in May 2012. Congress had been extending the National Flood Insurance Program a few months at a time since 2008. Twice this led to shut downs, including one that stalled thousands of real estate sales in June 2010 alone. Passage of this 5-year reauthorization will bring certainty to real estate transactions in more than 21,000 communities nationwide where flood insurance is required for a mortgage. The bill ensures the program will continue long-term for more than 5.6 million business- and homeowners who rely on it, achieves one of NAR’s top priorities for the year, and means taxpayers will spend less on federal assistance for flood disasters over the long run.
Shaking off a prolonged impact from the recession, fundamentals are gradually improving in all of the major commercial real estate sectors, according to the National Association of Realtors quarterly commercial real estate forecast. The apartment rental sector has fully recovered and is growing.
The findings also are confirmed in NAR’s recent quarterly Commercial Real Estate Market Survey, which collects data from members about market activity.
Lawrence Yun, NAR chief economist, said new jobs are the key. “Ongoing job creation, which is at a higher level this year, is fueling an underlying demand for commercial real estate space, assisted by a steady increase in consumer spending,” he said. “The pattern shows gradually declining commercial vacancy rates, with consequential but generally modest rent growth.”
Yun expects the economy to add 2 to 2.5 million jobs both this year and in 2013, on the heels of 1.7 million new jobs in 2011, assuming a new federal budget is passed before the end of the year. “Although we need even stronger job growth, by far the greatest impact of job creation is in multifamily housing, where newly formed households striking out on their own have increased demand for apartment rentals – this is the sector with the lowest vacancy rates and strongest rent growth, which is attracting many investors.”
Rising apartment rents also are having a positive impact on home sales because many long-time renters now view homeownership as a better long-term option, Yun noted.
A large problem remains for purchases of commercial property priced under $2.5 million. “Our recent commercial lending survey shows that there is very little capital available for small business, which is significantly impacting commercial real estate transactions, although funding is less restrictive for bigger properties.”
NAR’s latest Commercial Real Estate Outlook1 offers projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data for metro areas were provided by REIS, Inc.,2 a source of commercial real estate performance information.
Office Markets
Vacancy rates in the office sector are projected to fall from 16.3 percent in the second quarter of this year to 16.0 percent in the second quarter of 2013.
The markets with the lowest office vacancy rates presently are Washington, D.C., with a vacancy rate of 9.3 percent; New York City, at 10.0 percent; and New Orleans, 12.6 percent.
Office rents should increase 2.0 percent this year and 2.5 percent in 2013. Net absorption of office space in the U.S., which includes the leasing of new space coming on the market as well as space in existing properties, is forecast at 24.7 million square feet in 2012 and 48.0 million next year.
Industrial Markets
Industrial vacancy rates are likely to decline from 11.0 percent in the current quarter to 10.7 percent in the second quarter of 2013.
The areas with the lowest industrial vacancy rates currently are Orange County, Calif., with a vacancy rate of 4.7 percent; Los Angeles, 5.0 percent; and Miami at 7.2 percent.
Annual industrial rent is expected to rise 1.6 percent in 2012 and 2.4 percent next year. Net absorption of industrial space nationally is seen at 44.1 million square feet this year and 62.4 million in 2013.
Retail Markets
Retail vacancy rates are forecast to decline from 11.3 percent in the second quarter to 10.7 percent in the second quarter of 2013.
Presently, markets with the lowest retail vacancy rates include San Francisco, 3.7 percent; Fairfield County, Conn., at 4.0 percent; and Long Island, N.Y., at 5.0 percent.
Average retail rent should rise 0.8 percent this year and 1.3 percent in 2013. Net absorption of retail space is projected at 8.0 million square feet this year and 21.9 million in 2013.
Multifamily Markets
The apartment rental market – multifamily housing – is likely to see vacancy rates drop from 4.5 percent in the second quarter to 4.3 percent in the second quarter of 2013; apartment vacancy rates below 5 percent generally are considered a landlord’s market with demand justifying higher rents.
Areas with the lowest multifamily vacancy rates currently are New York City, 2.1 percent; Portland, Ore., at 2.3 percent; and Minneapolis at 2.4 percent.
After rising 2.2 percent last year, average apartment rent is expected to increase 4.0 percent in 2012 and another 4.1 percent next year. “Such a rent increase will raise the core consumer inflation rate. The Federal Reserve, in turn, may be forced to raise interest rates, possibly as early as late 2013.”
Multifamily net absorption is forecast at 215,900 units this year and 230,300 in 2013.
The Commercial Real Estate Outlook is published by the NAR Research Division for the commercial community. NAR’s Commercial Division, formed in 1990, provides targeted products and services to meet the needs of the commercial market and constituency within NAR.
Last year, the Christie Clinic Illinois Marathon drew 18,700 runners to the streets of Champaign-Urban to tackle the various races including: the relay, the half-marathon, 5K, 10K and the big race … the 26-mile marathon. This year, race organizers are expecting to hit 20,000 runners. Add in the thousands of spectators lining the streets to cheer on the runners … and this is one of Champaign-Urbana’s largest events.
Jan Seeley and Mike Lindemann, co-directors of the Christie Clinic Illinois Marathon tell us more about the this year’s Marathon and new changes they have made this year to improve on the quality, safe experience for runners, volunteers and spectators.
I am proud that we can shine a light on this amazing event and the wonderful people in our community that make it happen. To watch the entire interview with Jan Seeley and Mike Lindemann CLICK HERE
Carolyn has long had a passion for the arts. Her interests in sculpture, architecture and the visual arts have manifested themselves in a variety of ways much to our benefit here in the community.
She and her husband Norman have renovated historic buildings and currently own three commercial buildings in downtown Urbana and three Victorians in West Urbana that house foreign exchange students attending the University of Illinois.
Carolyn Baxley has been the owner of Cinema Gallery in downtown Urbana since January 2001. Thanks to her pioneering efforts and those of likeminded creative businesspeople downtown Urbana has become a hub of the arts for the Urbana-Champaign community. To view the entire interview with Carolyn Baxley CLICK HERE
CU Aerospace is located in downtown Champaign in the M2 building, located minutes from central campus of the University of Illinois at Urbana-Champaign. This exciting location provides an environment where technology-based businesses can work with one another and the University of Illinois to take advantage of opportunities for collaborative research. Our close association with the University provides us access to state-of-the-art University labs, equipment, and services. This teaming arrangement proves to be an excellent way to provide the government and commercial customers with the highest quality service in a cost effective manner.
Dr. David Carroll is the President and co-founder of a CU Aerospace, located in Champaign-Urbana, Illinois. C-U Aerospace operates principally as a government contractor working in space propulsion, nanosat (CubeSat) fabrication, high energy lasers, self-healing composite materials, astrodynamics, and other advanced aerospace technologies.
David received his degrees in Aeronautical and Astronautical Engineering from the University of Illinois at Urbana-Champaign (B.S. 1985, M.S. 1986, and Ph.D. 1992). Dr. Carroll serves as the Chair for the Plasmadynamics and Lasers Technical Committee of the American Institute of Aeronautics and Astronautics (AIAA) and he was inducted as a Fellow of the AIAA in 2011.
To watch the entire TV interview with Dr. David Carroll CLICK HERE
Joe Taylor is the founder and President of Sleepy Creek Vineyards near Oakwood, IL. After a receiving degree in Graphic Design from Southern Illinois University in 1990, He co-founded Taylor Studios Inc, with Betty Brennan. Taylor Studios, located in Rantoul, IL, is a business that designs and builds museum exhibits. In 1998 Taylor Studios was named to Inc. Magazines “Inc. 500” list as one of the fastest growing private companies. Today, they are one of the top exhibit design and fabrications firms in the country, employing over 30 people. In 2002, He was bit by the entrepreneurial bug again and started Sleepy Creek Vineyards. He, and his wife Dawn, planted their 10 acre vineyard in with plans to open a winery. After establishing the vineyard, they opened their winery to the public in 2007. Sleepy Creek Vineyards currently makes over 10 different hand crafted wines. All made on site with locally grown grapes. In addition to growing grapes and making wine, the winery host several festivals, art shows, concerts and private events. There is also a two bedroom vacation rental above the winery for visitors to rent for a relaxing getaway. To watch the entire TV interview with Joe Taylor CLICK HERE
Volition makes videogames. Making videogames is often thought of as a dream job but the reality is a bit different. Games can take more than 2 years to create with thousands of hours of programming, art and design effort that often culminates in a roll of the dice…. The hope is the audience will choose your game in the midst of hundreds of high quality products that are released each year. Very few games are a hit and normally only the top 10 games in a year will sell enough to be profitable. Volition has been fortunate enough to create one of those franchises with Saints Row. Volition was founded by Mike Kulas and Matt Toschlog in 1993 as Parallax Software. In 2004 Volition moved to its current location at One Main Plaza and began creating games for the next generation of consoles (the XBox 360 and PS3). In 2006 Volition shipped Saints Row which has become a highly regarded game garnering millions of sales from the original and two sequels. In May of 2011 Mike Kulas retired and Dan Cermak moved into the GM role. Dan joined Volition in 2003 as the VP of Product Development and has over 26 years of experience as a producer, manager, and developer of interactive entertainment. In his role at Volition, Cermak works with a very experienced staff of 200+ people to create games for the consoles and the PC. Volition’s current projects include InSane (in conjunction with Director Guillermo Del Toro) and other to be announced projects. Dan Cermak joined THQ in 2003 as the Vice President of Product Development for Volition, responsible for production and management of next-generation titles. In May of 2011 the founder of Volition, Mike Kulas, retired and Cermak moved into the GM role. Dan has over 26 years of experience as a producer, manager, and developer of interactive entertainment. Before joining THQ, Cermak was an Executive Producer for Westwood Studios and also held key positions at Strategic Simulations Inc, including Senior Vice President of R&D and has been responsible for various genres including sports, strategy and war games. In his role at Volition, Cermak works with a very experienced staff of 200+ people to create games for the XBox 360, PS3 and PC. Volition’s current projects include InSane (in conjunction with Director Guillermo Del Toro) and Saints Row (now in its third iteration).
To watch the entire interview with Dan Cermak CLICK HERE
As we look forward to a new year, I am pleased to share my thoughts on the very memorable 12 months past, and to offer my outlook for the commercial real estate market in 2012. Before I do, I would be remiss if I did not thank the Sperry Van Ness clients, Advisors, staff, and fellow brokers for their contributions in driving us forward in spite of the unpredictable times. I know that I speak for all SVN Advisors and staff when I wish you a prosperous New Year. A Year of Fits and Starts for Commercial Real Estate During a year of extraordinary economic and political uncertainties, commercial real estate held its position as a crucial safe haven for investors in 2011. Investment into the sector reached a peak in the second quarter, supported by CMBS conduit originators and more active life company and bank lenders. Even as economic and employment trends fell short, leasing activity for well-positioned assets strengthened. During this period, investment into segments of the market that had lagged during 2010, including commercial properties in secondary and tertiary markets and value-add opportunities, showed signs of firming, as well. In spite of the rising momentum, commercial real estate investors revealed they were not entirely immune to the obstacles facing the wider recovery in business confidence. As I suggested in my New Year’s message one year ago, this has been a period of fits and starts. Over the summer, renewed disruptions of capital and credit that were largely unrelated to the property sector threw the conduit into disarray and slowed the pace of transaction activity more broadly. For many borrowers, lending sources pulled back once again, with the result that a larger share of pending sales has struggled to reach closing. While sales volume in the third and fourth quarters will not match the spring’s flurry of trades, the shifts in the market must be understood in the context of a turbulent economic and political environment. Where investors have retrenched, it is often under the force of external pressures. It nonetheless remains clear from the current diversity of investors and lenders that commercial real estate is high on the investment hierarchy. In fact, many of the last twelve months’ most notable and most visible deals only came to fruition as the year drew to a close. The fundraising activities of the major REITs support this assessment, as well. US REITs raised $37.5 billion in equity in 2011, a new record that easily surpasses the previous high of $32.7 billion set in 1997. They raised another $13.8 billion in unsecured debt. 
A Persistent Imbalance In the final tally, investment sales in 2011 will easily surpass the $120 billion benchmark set in 2010 and will roughly triple the record lows set in 2009. As a wider range of buyers and sellers have reengaged, pricing in the most actively traded markets has exhibited the sharpest improvements. In the extreme, some highly coveted trophy properties have prompted aggressive bidding by domestic and cross-border buyers and have ultimately sold at higher prices than during the market peak in 2006 and 2007. While the most visible investments affirm institutional investors’ confidence in the sector, they offer only one perspective on the market. As I pointed out at this time last year, the headline statistics do not fully convey the unevenness of the recovery or the diversity of its investors. The market for assets that do not dominate their respective cities’ skylines is necessarily recovering along its own trajectory. In the current market, that has meant a balance of tailwinds and headwinds that has weighed in favor of the latter. Core investors whose scope may be limited to a subset of metropolitan areas have argued that rising prices and falling cap rates will inevitably spill over into other segments of the market. In one respect, this is correct. Yields on mid-cap investments are higher than for any trophy property. But that assessment also overlooks the uniqueness of the market for small- and mid-cap commercial properties and the very different makeup of the investor and lender base. Understanding these differences is crucial to assessments of what the next year will hold for commercial real estate. The Economy, Jobs, and the Political Deadlock As in previous cycles, the recovery in small- and mid-cap property investment is proving more sensitive to underlying drivers of cash flow than the market for the largest properties. This inevitably means that a strong economic recovery will be one of the requisites for more robust investment. While companies have seen their profits rebound, surpassing their previous peaks from 2007, an environment of extraordinary economic and political uncertainty has constrained decision-making and investment in new tools and people. 
In the first days of 2012, the employment outlook looks brighter. For commercial real estate – and for millions of families across the country that have struggled with unemployment – this is the critical missing link to a more balanced recovery. Although the data on job creation in 2011 only shows a modest improvement over the prior year, leading indicators of firm hiring have turned more positive. Job openings have been trending up consistently over the last year. More recently, first-time applications for unemployment insurance have fallen back to their lowest levels since early 2009. Further, employment gains in temporary help services have picked-up over the past 5 months, which lends well to permanent job creation. Even though single-family housing shows no definitive signs of an inflexion, other metrics indicate that marginally stronger growth in 2012 will support a healthier pace of private sector job creation. 
Regrettably, an environment of political dysfunction qualifies the outlook, both at home and in Europe. In fact, the latter presents one of the most credible threats to global growth. In the United States, the uncertainties presented by unusually intrusive policymaking may resolve over the next year, given the need for all parties to clarify their political positions and objectives as Election Day approaches. Needless to say, a business environment where the rules of the game are more predictable is more conducive to growth and job creation. Investment Sales and Financing As much as it depends on a stronger economic trajectory, the outlook for small- and mid-cap investment also relies on buyers’ access to financing. In financing their investments, large REITs may offer shares or issue unsecured bonds; trophy investments have also been supported by favorable lending terms from life companies and large international banks. These scenarios are not reflective of the market for smaller assets where the sources of risk and its mitigating factors can be very different. Given the historically dominant role of regional banks and CMBS lenders in facilitating this segment of the market, these lenders figure prominently in the assessment of what the next year will hold. Although the CMBS market has struggled to reassert itself since last summer’s interruption, plans for new issuance in the first quarter of 2012 indicate a gradual increase in conduit origination activity. Surprising as it may seem, stability in global bond markets is an important condition for well-functioning CMBS markets, since the spreads on the latter’s bond yields are influenced by corporate bond market trends, as well. In the first half of 2011, more than half the CMBS loans securitized had origination balances of less the $10 million. It remains the case that a more active CMBS market is required for the small and mid-cap segments to flourish, in particular, as a large number of seasoned CMBS loans mature over the coming year. Outside of the apartment sector, where generally improving fundamentals and the contributions of Fannie Mae and Freddie Mac are facilitating both sales and new development, commercial property investors are dependent on bank financing given an absence of other debt sources. For the last several years, that has presented a problem. Banks have been preoccupied with the management of their distress portfolios and have hesitated to extend new credit, even in the best of cases. The most recent data show those priorities changing. Banks’ default rates on their commercial and apartment loans have fallen consistently over the last year. Coinciding with the stronger performance of the legacy balance sheets, many banks are accelerating the liquidation of bad loans and real estate-owned. A growing minority are lending again, increasing their exposure in segments of the market where an absence of competition and low interest rates are affording opportunities to extend credit. Improvements in bank lending and CMBS issuance will have a disproportionately positive impact on the mid-cap market. Access to historically low-cost credit in 2012 and the likelihood of higher interest rates in 2013 signal an unmatched window of opportunity for acquisitions over the next 12 months. 
Conclusions The economic and jobs outlook is improving. With so many of the underpinnings of a stronger recovery in place, we can afford a degree of optimism. Politics and the possibility of external shocks, primarily from Europe, still qualify that optimism. While prices in the largest markets have recaptured a significant share of their lost value, other assets have lagged the headline measures. Combined with historically low borrowing costs, there is tremendous upside potential for borrowers with access to financing who can identify well-positioned assets. While the process has been frustratingly slow, more banks are moving distress off their balance sheets. This process has the potential to accelerate in 2012, given banks’ stronger positions generally, an evolving regulatory environment, and the potential for distress from maturing CMBS. That will create some pressures on the market, but it should also deepen the pool of distressed assets and notes for sale. Attention will necessarily turn to the small and mid-cap market as the economy improves and financing options broaden. Given our experience in this arena, we are anticipating a high volume of advisory work to identify and market investment opportunities before consensus firms. Timing will be the crucial differentiator in this market – the intersection of low-cost financing and first-mover advantage demands that we act deliberately.
Karen Wolters started her own business at a time in life when others might be thinking of slowing down. Not Karen! She invented and patented a kitchen tool which she manufactured in Taiwan and shipped around the world. In 1990—her group became the quality control department for The Pampered Chef for all product shipping out of Asia. Her company supplies quality products to Pampered Chef to this day. As her company grew Karen explored other ventures including a magnetic induction technology for the modern kitchen and several other very successful ventures. Karen is an avid supporter of encouraging entrepreneurship among youth. She was co-chair of the first CEO class in Effingham; an outstanding education program teaching entrepreneurship on a high school level. She believes the best part of success is being able to give back to your community which she does in so very many ways. To view the entire TV interview with Karen Wolters CLICK HERE
 Chris and Anne have worked in video production in Champaign-Urbana for over 6 years. As Railsplitter Media, they are passionate about using the medium of video to tell the stories of their clients, and strive to make it an option for businesses of every size. As Kill Vampire Lincoln Productions, they focus on creating narrative films that, above all, entertain. Their short films have been featured on VH1, The Big Ten Network, multiple PBS affiliates, and in film festival programs. Their projects have accrued over 250,000 views on YouTube. To watch the entire TV interview with Chris and Anne CLICK HERE
Kristie and Niall Campbell of the Firefly Grill in Effingham are two of the most dynamic people I know. Firefly Grill is a dream that became a journey. Billed as a modern roadhouse situated in America’s Heartland. Their approach to food is simple-source the best ingredients possible and stay out of the way. Besides getting rave reviews from customers across the country the restaurant has a special sense of place all its own. The menu features seasonal fare including produce from local farmers, foragers and their own garden right out side the restaurant! A visit to the Firefly is more of an experience than just ordering a meal. Weather its a table on the deck a stroll past the koi pond or a show at the professional theatre across the way the Firefly offers so much more than just dinner. While the Firefly is a dream come true it was a national nightmare that started Kristie Samuels on a path that would lead her away from Wall Street and to her roots in central Illinois. After the events of 9/11 Kristie (who was a young wiz at a Wallstreet type firm) decided to re-evaluate her life and focus on what was really important. After an extended vacation on a tropical island she rediscovered her passion for life. A chance meeting with a brash young chef, Niall Campbell changed her life forever. Before long the two were planning a life together and a new adventure in the restaurant business. To make a long story short they came to central Illinois with the idea of opening a new restaurant dedicated to creating an atmosphere and a sense of place. Anyone who has been to Firefly Grill would agree they have succeeded! To watch the TV interview with Niall and Kristie CLICK HERE
Dr. Donna J. Cox is a Professor in the the School of Art and Design, University of Illinois at Urbana-Champaign and the first Michael Aiken Chair. She is also the Director of the Advanced Visualization Laboratory (AVL) at the National Center for Supercomputing Applications and the Director of the Illinois Emerging Digital Research and Education in Arts Media (eDream) Institute.
Professor Cox is a recognized pioneer in scientific visualization for public outreach and has published on the importance of interdisciplinary Renaissance Teams and cinematic science. Her NCSA team and scientific collaborators have inspired millions with artistic virtual tours through data in astrophysics, atmospheric, and ocean science. She will tell us about her AVL research group, eDream, and the projects they create for IMAX movies and digital dome museums. To view the TV interview with Dr. Cox CLICK HERE
To Watch the Cazoodle Interview: CLICK HERE Cazoodle was established in August 2006, as a startup company from the University of Illinois (UIUC). The goal of the company is to make web-search broader and deeper, by accessing data beyond the reach of current search engines. The company was co-founded by Prof. Kevin C. Chang and it is supported by the University of Illinois with transfer of technology from the MetaQuerier projects. The company’s mission is to help users make their decisions more efficiently such as when they're looking for apartments for rent, or deciding on which products to buy. In such situations, users often end up spending hours and hours checking on possibilities spread across dozens of websites. Cazoodle’s search engines aggregate information from thousands of online sources, creating a one stop-destination for users to quickly navigate through all their possible choices. Kerris Lee is a great ambassador for Cazoodle and shares his passion for the technology while telling the story of a young start up company that just may soon be a household word to all of us!
I had the privilege of interviewing the new CEO of Provena Health for the TV show "One on One" Click HERE to Watch the Show.
Mike Brown is President/Chief Executive Officer
of Provena Covenant Medical Center and Provena United Samaritans Medical Center. Mike Brown was recently promoted to Regional President and CEO with oversight responsibility for both PUSMC and PCMC. A key aspect of Mike's new regional duties will be leading PUSMC and PCMC through the opportunities and challenges that will come about with Health Reform, including optimizing the synergies between the Urbana and Danville physician relationships and the clinical offerings. An accomplished healthcare executive, Mike joined Provena in 2005 as Chief Operating Officer and Chief Nurse Executive at PUSMC before being promoted to President and CEO in 2008. Prior to that, he served as the Chief Executive Officer at Hoopeston Regional Health Center, Hoopeston Illinois. He holds a Bachelor of Science degree in Nursing, and an MBA in Organizational Leadership and Management from Franklin University in Columbus, OH.
The mission of Human Kinetics is to produce innovative, informative products in all areas of physical activity that help people worldwide lead healthier, more active lives.
Through an Employee Stock Ownership Plan (ESOP) the company is largely owned by its employees!
Human Kinetics’ aggressive product output demands a productive staff, but the corporate mission of helping people lead healthier, more active lives also permeates the atmosphere at the Champaign headquarters. Fitness classes and exercise equipment draw employees to the workout room throughout the day, and rain-free days ensure pick-up basketball or tennis games in the courtyard. Other employees frequently join together to walk, and most take advantage of healthy subsidized meals in the acclaimed HK Café. Employees are empowered to run committees that address community service, wellness, and social aspects of the company. Brian Holding is the CEO of Human Kinetics, the world’s leading source of information on physical activity and based here in Champaign. Brian has been the CEO at Human Kinetics for the past 13 years after joining Human Kinetics in 1987. Throughout his career at HK, Brian has been involved with consumer product acquisitions, sales and marketing, and the development of international operations in England, Canada, and Australia. Before joining Human Kinetics, Brian was an acquisitions editor with Prentice Hall based in the New York City area. Brian is a journalism graduate of the University of Illinois and spent 7 years as a journalist before getting involved with book publishing.
To watch the entire TV interview with Brian Holding click here: WATCH TV INTERVIEW
Dennis Coleman was raised in northern Wisconsin and received his bachelor’s degree from the University of Wisconsin in Madison. He completed an M.S. degree at the University of Arizona in Tucson and a Ph.D. at the University of Illinois. From 1970 until 1995 he was on the staff at the Illinois State Geological Survey where he held various research and administrative positions. While at the ISGS he established a stable-isotope laboratory and conducted numerous research projects on the geochemistry of natural gas. Dr. Coleman pioneered the use of stable isotope analysis to identify natural gas that had leaked from underground gas storage reservoirs and in the early 80’s developed an active consulting business applying that technique. To provide analytical support for that business, he and three colleagues founded Isotech Laboratories, Inc. in 1985. Since that time Isotech has grown to a staff of 42 scientists and support personnel. In 1995, Dr. Coleman retired from the Illinois State Geological Survey to devote full time to the operation of Isotech. Isotech has become the primary laboratory utilized by the oil and gas industry for the isotope analysis of natural gas because of its reputation for high quality data and because of its development of IsoTubes® for collection and shipment of gas samples collected during the drilling of oil and gas wells. IsoTubes®, which are produced exclusively be Isotech, have become an industry standard throughout the world, simplifying the collection of samples and increasing the application of isotope geochemistry to oil and gas exploration. In 2007 Isotech opened the first of its three Satellite Laboratories in Cairo Egypt, followed by Rio de Janeiro in 2008, and Perth Australia in 2009. The instrumentation installed in these satellite facilities is actually operated via the internet by scientists in Champaign. Isotech has thus been able to export its services without exporting jobs. A fourth Satellite Laboratory is scheduled to open in Oman later this summer, with plans for several more expansions in the near future. Isotech became the largest privately owned stable isotope laboratory in the world and on June 6 of this year was acquired by Weatherford International, a company with over 50,000 employees in over 100 countries, and the fourth largest service company in the oil and gas industry. Isotech provides Weatherford with unique analytical capabilities not offered by any of its competitors. And Weatherford provides Isotech with a large network for the expansion of its Satellite Laboratory concept. Dennis Coleman is also the founder of CU Woodshop Supply, Inc., a unique new business that supports his hobby of woodworking. This business offers a retail store that sells woodworking tools, machinery, and supplies as well as both domestic and exotic hardwoods. In addition, half of the 15,000 foot facility on Parkland Court in Champaign is The DreamShop, a state-of-the-art workshop. Working somewhat like a cross between a timeshare and a country club for woodworkers, stockholders in CU Woodshop Supply have access to the DreamShop for their personal use. To watch the entire interview with Dennis Coleman click the following link: WATCH DENNIS
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