Women who launch businesses explain motivation

No surprise here: a survey has found that the desire for work-life balance and the ability to self-manage were the reasons women wanted to start their own businesses.

This summer’s Make Mine a Million $ Business survey sent voluntary e-mail questionnaires to women registered on the organization’s Web site. Almost two-thirds of the women who participated in the survey said they were mothers.

“After having a successful career in corporate America, I wanted to create some options,” said Maureen Borzacchiello, president of Creative Display Solutions, a West Hempstead, N.Y.-based firm. “It was (about) taking control of my life and being able to say, ‘If I want to have a child and work part-time or work at 2 in the morning, I have that option.’”

Make Mine a Million $ Business is a program that sponsors contests and provides financing, mentoring and workshops to help women entrepreneurs reach $1 million in annual revenues.

-JACKIE SAUTER, Multimedia Editor

Same-sex marriage: Good business for Maryland?

A group of researchers has concluded that if Maryland legalized same-sex marriage, the state would benefit to the tune of $3.2 million.

The researchers are affiliated with the Williams Institute on Sexual Orientation Law and Policy at UCLA School of Law, and they have done analyses on other states before, concluding that legalizing gay marriage or extending domestic partner benefits to same-sex couples would bring in money and/or cost the states little.

According to a press release on the study, some of what makes up that $3.2 million figure are these factors:

“— Extending marriage rights to same-sex couples would reduce the State’s expenditures on means-tested public benefit programs by about $1.5 million annually.

— The net impact on the State’s income tax revenue resulting from same-sex marriages would be small: the State would experience a decrease in income tax revenue of about $132,000 annually….

— The State would incur some revenue loss from transfer taxes as a result of same-sex marriage, approximately $1.4 million annually.

— With same-sex marriage, annual expenditures on state employee benefit programs would increase between $400,000 and $1.3 million….”

The researchers also postulated that if same-sex marriage were legalized, 7,800 gay couples in Maryland would wed. All those nuptials would give the wedding and tourist industries a major boost, resulting in a net gain to business of $88 million per year in the first three years, the study says.

On page 25, they’ve also got an interesting chart listing the Maryland companies that offer domestic partner benefits. Highlights include DLA Piper, Johns Hopkins, and BGE.

-CARYN TAMBER, Daily Record Legal Affairs Writer

Taxes? What taxes?

In its latest edition, Business Week has published a list of 50 companies that paid the least corporate taxes over a five-year period as part of an article on the impact of proposed reforms to corporate taxation. Maryland had only one company on the list — in the top 10 no less: Bethesda-based private equity firm American Capital Strategies.

The company, which has a piece, in part or in whole, of companies like Piper Cub, Rug Doctor and football helmet maker Riddell, had an effective tax rate of 1.8 percent. That put it eighth on Business Week’s list.

According to Business Week: … “because it’s a Regulated Investment Company under IRS rules, it owes no federal income taxes so long as it distributes most of its taxable income and capital gains to shareholders. The short version: the company paid very little to Uncle Sam while distributing $454 million in dividends to shareholders.”

Just because American Capital had a low tax rate, should it be a leading example of why the country needs corporate tax reform, or is it a prime example of how a free market should work?

-BEN MOOK, Assistant Business Editor

Annapolis chosen to test new Budweiser vodka

Things are really beginning to look up for Maryland’s capital city’s image. First, this week’s Mid-East peace conference has put all eyes on Annapolis, “America’s Sailing Capital.”

Now, Annapolis will again be on par with such major metro areas as New York, Boston and Washington.

According to Bloomberg News, Anheuser-Busch is looking to Annapolis to help roll out its newest creation — “Purus,” an Italian-made organic-wheat based vodka. The beer giant is looking to continue branching out from its strictly suds history and expand its offerings.

Before going full retail, Purus will be sold through bars, restaurants and package stores in Annapolis, Boston, New York and Washington.

The new vodka costs about $35 and comes in a raindrop-shaped bottle.

Do you think Budweiser’s parent company is making the right call?

-BEN MOOK, Assistant Business Editor

Who needs Black Friday when you have Cyber Monday?

Did you see reporter Louis Llovio's story today about the effect (or lack thereof) that Black Friday has on small, local retailers?

While the masses descend on area shopping malls and chain stores today, other retailers are gearing up for their day in the sun - on Monday.

They're online retailers, and they're hoping that you'll all rush to work on Monday, browse to your favorite dot com, and order massive amounts of Christmas gifts.

See, a few years ago, a marketing association began calling the Monday after Thanksgiving "Cyber Monday" - a PR campaign based on the myth that the day brought in sweeping sales numbers.

A couple years ago, BusinessWeek discovered that the day wasn't even in the top 10 of most online sales for the year (in reality, it was about No. 12). The story even attempted to trace the "Cyber Monday" myth to its roots.

It might be a moot point now: the National Retail Federation says enough online retailers are behind the idea this year to offer some can't-miss discounts.

And you don't even have to worry about parking or waking up at 4a.m.

Will you do most of your holiday shopping online or in person?

Much as I like the idea of click-click-clicking my way to a stress-free holiday, I can't seem to bring myself to give up the thrill of the hunt.

-JACKIE SAUTER, Multimedia Editor

Too busy for the holidays?

Pretty soon many of us will be opening our Christmas presents with a Bluetooth headset in our ears, barking orders at office assistants and settling lawsuits under the mistletoe.

That seems to be the way things are headed, at least if you believe a recent poll by staffing firm OfficeTeam.

It found that four out of ten of us won't take any additional days off around the holidays - only the ones our employers provide. Another one in six will only take an extra day or two off.

Is this because we've all already used our vacation time (boy, that camping trip in June was worth it), or because we're simply too busy to detach from work?

WaPo writes: "Research shows that one-third of people who don't use up their vacation think they're too busy to get away."

Are you too busy to enjoy the holidays?

-JACKIE SAUTER, Multimedia Editor

Rupert makes it official

The news from Australia this morning: News Corp. Chairman Rupert Murdoch told shareholders that he intends to remove the subscriber wall from WSJ.com, one of the only successful subscription news sites in the world.

His bet: the increased ad revenue that comes along with increased visitors will pay off.

"We are studying it and we expect to make that free, and instead of having one million (subscribers), having at least 10 million-15 million in every corner of the earth," Murdoch told the AP.

Think he's right?

Which site would you like to see make the move next?

-JACKIE SAUTER, Multimedia Editor

Speaking of travel

There’s a full-page ad in USA Today Friday that exclaims, “We don’t just TALK at businesspeople. We LISTEN to them.”

That’s Southwest’s pitch for its new seating system, which discards the generic A, B, and C designations in favor of a numbered pecking order.

That is, instead of checking in early and having to battle it out with all the other groups, you’ll now line up as A55, behind A54 and in front of A56. Once you’re on the plane, I imagine it’s still a free-for-all.

My colleagues, who flew Southwest to Chicago, claim they were on one of the first flights that adopted this system, and dismissed it as a poor choice. To me – it seems silly to take the extra step; why not just assign seats like everyone else.

What do you think, frequent fliers?

-JACKIE SAUTER, Multimedia Editor

Re-Dew the Dew…

One of this year’s most exciting downtown events is coming back next year: the AST Dew Tour.

With flying skateboarders and death-defying motocross tricks, June’s spectacle drew about 55,000 people over four days to the Camden Yards Sports Complex.

The Maryland Stadium Authority said yesterday that the only thing in doubt was where exactly the four-day event would be held.

In June, it was set up in the parking lot between the two stadiums. The problem for 2008 is that the Orioles are in town during the time Dew is usually setting up and during the first day of competition.

The MSA is trying to work out a deal to let them use those same parking lots. (Here’s a question: Shouldn’t the MSA have asked the team to be on the road all week as opposed to June 19-24?)

My question is why do they need to work out a deal? Really, do any of us believe that many people are going to an Orioles’ games on a Thursday night in late June? Couldn’t the MSA arrange parking at a gas station somewhere?

Or am I to believe the Orioles are concerned that their fans aren’t going to have anywhere to park? If they are, then big things might be happening in the executive suites that the rest of us aren’t privy to. It’s been a long time since this team has given fans anything to be excited about in mid-summer.

I guess all that remains now is to see if the Orioles make a deal with the MSA to let Dew in or if they rebuild this team and give long-suffering fans a reason to go to the stadium.

What do you think’ll happen? Call me cynical, but my bet is that more people will watch the exploits of Bucky Lasek than Nick Markakis in June 2008.

-LOUIS LLOVIO, Business Writer

Considering an MBA? Turn to blogs

I stumbled across a collection of blogs today that I think you might find interesting, especially if you've been pondering a return to academia.

The Smith School of Business at U-Md. hosts four blogs, written by MBA students, to allow prospectives (or alumni) an "inside view" of the two-year program.

Meet Donna, Pete, Adam and Lettie, and you too can reminisce on sleepless nights, the interviewing process and an 18-hour day. One is even a former journalist.

One criticism: what's with all the block text? It's a bit maddening for the eyes.

-JACKIE SAUTER, Multimedia Editor

WSJ: who's counting?

The Wall Street Journal has one million subscribers to its online site, if you can believe it.

Mashable.com (where I read the news, not having a WSJ.com login myself) wonders whether the figure will keep Murdoch from lifting the subscriber wall. (Especially since NYT and FT are playing around with free content.)

Either way, it's good news for Journal-ers, as the latest figures show WSJ's print circulation is down 1.53% over a six-month period.

Commenters on Mashable point out that a variety of promotional offers right now make WSJ.com a bargain, especially in combination with a print subscription.

Do you subscribe to WSJ.com? What sites do you pay for?

-JACKIE SAUTER, Multimedia Editor

Under Armour’s next challenge

Now that they’ve conquered the sports world, Under Armour is looking to take over the malls of America.

The apparel maker is kicking off its crusade at the Westfield Annapolis Mall Thursday when it opens up a 4,500-square-foot store — just a fraction of a 240-000-square foot addition at the mall.

The store is worthy of a TV studio — with CNBC in town to do a live spot that’s exactly what it was when I visited yesterday. You walk into it from the mall through a tunnel and are welcomed with gray walls and lights hanging down. The company was going for the look and feel of a stadium’s underbelly — sans the musty smell of standing water, I would assume.

Like most stores these days, there are bright colors, blaring bass-driven music and videos. In all, it’s designed to attract the younger sports enthusiast.

But the question is, will this work? Are amateur athletes really going to go to the mall for their gear when they can run into the nearest Dick’s Sporting Goods? Will they undertake the challenges of holiday traffic and parking lots filled with minivans to buy their latest running shoes when they can go online?

Only time will tell. But I’m not one who likes to wait. So let me know: Will you frequent the mall for the latest Under Armour gear or will you keep going to Dick’s, Modell’s or the World Wide Web?

-LOUIS LLOVIO, Business Writer

The art of the power breakfast

You hear a lot of talk these days about the importance of breakfast. It's not just for nutrition's sake anymore; it's key to business success.

The WSJ published a review of the best power breakfasts earlier this week, and the descriptions were enough to get my mouth watering. Raymond Sokolov enjoyed lemon souffle pancakes and oatmeal brulee while eavesdropping on the hurried conversations of movers and shakers, coast to coast.

He writes:

For one, the power breakfast is the least exclusive, easiest reservation to cop in the whole frenzied universe of fine dining. In fact, you don't need a reservation (except perhaps at the Regency) and you absolutely don't need to spend the night in the hotel where you consume your gilt-edged lox.

Other people with my lack of star quality have also figured this out, and you will see many of them, along with normal and subnormal hotel guests in Los Angeles's Bel-Air and Peninsula hotels, at Boston's Langham as well as at the Hay-Adams in Washington and New York's Regency.

Our sister blog also dug into the topic, recently adding a weekly "Freshly Squeezed" post from one of Long Island's hot breakfast spots.

To you, I ask: do you dine out for breakfast? If so, where do you choose to start your day in Baltimore?

-JACKIE SAUTER, Multimedia Editor

Just what does DLLR do?

Many Maryland residents don’t have a very good idea of what else the state agency that certifies elevators does, according to Department of Labor Licensing and Regulation Secretary Thomas E. Perez.

Perez says this doesn’t work very well, especially for a consumer protection-focused department (fun fact: also the state’s third largest tax collector behind the Maryland Comptroller and the Federal Government).

“If people are victims of mortgage scams but they don’t know to call us, then we’re not doing our jobs,” Perez said at a meeting at The Daily Record Thursday.

So what’s he doing? Well, he’s going to the very source of much public awareness of his department: the elevator certification tag. The department is now listing facts about its activities on the certificates for all to see. Here are some examples:

Did you know? Last year DLLR’s Division of Labor and Industry investigators recovered more than $1 million of unpaid wages earned by hard-working Marylanders.

Did you know? Each year DLLR’s safety unit inspects almost 1,400 miles of railroad track, 3,800 amusement rides, nearly 6,000 high-pressure boilers, and more than 18,000 elevators to keep Marylanders safe.

But seriously, DLLR’s worth knowing about because it contains the state’s top financial regulator, oversees the horse racing industry, and manages unemployment claims among many other things. How does your business interact with DLLR?

-ANDY ROSEN, Business Writer

I vote for more vacation days

Our executive editor pointed me in the direction of a provocative OpEd ("Making a better world, one office at a time") by Traci Fenton that ran recently in The Baltimore Sun.

Fenton's workplace democracy platform has been gaining national attention by way of The Wall Street Journal and The Christian Science Monitor and through WorldBlu, her company, and its blog.

WorldBlu's mission: to convince businesses that democracy isn't just for governments.

As Traci wrote, "Democracy is ... understanding that the traditional hierarchical workplace structures that operated on disengagement and the delusion of control are now a recipe for defeat in today's collaborative world."

She also adds that democratic organizations trim "unnecessary layers of management," improve employee morale and increase innovation.

WorldBlu named the Most Democratic Workplaces for 2007, and you'll recognize several: 1-800-GOT-JUNK; Bethesda's Honest Tea, Linden Lab (creator of virtual world Second Life), GE Aviation's Durham Engine Facility.

Our question for you: Can a workplace function without the traditional chain of command? What decisions within a company would be better made democractically?

-JACKIE SAUTER, Multimedia Editor

Proud to be a Firstborn

I did a quick poll today and realized that the overwhelming majority of those near and dear to me are "firstborns,” like me. And, according to Time, I'm in good company.

Not only are firstborns traditionally high achievers (just think Jimmy and Billy Carter - although he did bring us Billy Beer) but they're often CEOs, too.

As Time puts it, "Firstborns do more than survive; they thrive."

A poll by Vistage turned up these results: 43% of CEOs are firstborns, compared to 33% middle-borns and 23% last-borns. The same skew appears when surgeons and MBAs are polled, reports a Stanford psychologist. And, whether or not we firstborns want to be associated with them, the U.S. Congress has a statistically-significant proportion of firstborns.

An economics professor at UCLA even discovered that older siblings earn about 1% more than their younger sibling, though she questions the underlying cause: "I'd be interested in whether it's because the second child is taking the riskier jobs," she says.

Perhaps the most fascinating parts of the article were the findings by NYU professor Ben Dattner, who studied how firstborns and later-borns approach their work.

Firstborn CEOs, for example, do best when they're making incremental improvements in their companies: shedding underperforming products, maximizing profits from existing lines and generally making sure the trains run on time. Later-born CEOs are more inclined to blow up the trains and lay new track. "Later-borns are better at transformational change," says Dattner. "They pursue riskier, more innovative, more creative approaches."

Score one for the later-borns.

Does this fall in line with your experience?

Anyone know if Under Armour's Kevin Plank or Constellation's Mayo Shattuck are the eldest siblings?

-JACKIE SAUTER, Multimedia Editor

Four-letter words at work

I guess there's no more need for corporate retreats or office holiday parties, now that English researchers have discovered an unlikely source of team morale-boosting: swear words.

Supposedly, these office no-nos can boost camaraderie among co-workers and reduce stress.

So "sticks and stones can break our bones, but words will never hurt us" rings true, eh?

Anyone else prefer a morale-boosting happy hour instead? Swearing's fun, but it won't pay my tab.

-JACKIE SAUTER, Multimedia Editor

A Day for Bosses

The international conspiracy in charge of bogus holidays has proclaimed today as National Boss Day.

While some of us may choose to use this occasion to celebrate Bruce Springsteen’s new album and tour or to bash George Steinbrenner, head of the evil empire known as the New York Yankees, others may want to celebrate the woman or man in the corner office.

Since both of those other Bosses have already gotten more than their share of glory and vitriol, let’s concentrate on the lower-case bosses.

Who has a boss--past or present--worth celebrating? Tell us who and why. Boss-bashing is not allowed today. That’s for the other 364 days of the year.

-TOM LINTHICUM, Executive Editor

More bad news for newspapers?

Seems like bad news comes in bunches for the newspaper industry these days.

A recent story in the Financial Times noted that a newsstand in New York City has stopped selling newspapers. The owner said he makes more money selling candy and besides, newspaper peddling is just “not worth it.”

The article continues:

The people who distribute newspapers in New York are always late, said our man. ‘And they rip me off.’ He was making 2c on a Post (cover price 25c), 5c on a Daily News (25c) and 9c on a New York Times ($1.25). A plastic bag costs him 3c.

Has it come to this? Will we be reduced to reading gum wrappers and cigarette packs on the subway or in the coffee shop?

Or do you already get all of your news via your computer or PDA?

-TOM LINTHICUM, Executive Editor

Business and the way of the dinosaur

Just got wind of an Entrepreneur.com top-10 list of businesses facing extinction in 10 years.

The potentially-bad news for The Daily Record? Newspapers are No. 5. (still two spots away from No. 3 - crop dusters - though!).

The good news for "On the Record"? While the writer has low expectations for printing presses, he notes that newspapers' content will likely migrate to the Internet.

While some of the other businesses that "made the cut" aren't a surprise (...Record stores are No. 1...) I did find spot No. 4 as a surprise: Gay bars.

Apparently the Orlando Sentinel was the first to note that gay bars around the country are going out of business as gay people gain greater societal acceptance.

Do you agree with their forecast for newspapers?

What are your picks for businesses that will go the way of the dinosaur in the next 10 years?

What is glaringly left off the list?

-JACKIE SAUTER, Multimedia Editor