Attracting, retaining talent key piece of economic development strategy - Memphis Business Journal:

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The price tag for the total effortt in terms of dollars allocatedis small, less than $300,00o0 last year in a more than $8 milliomn budget. Only two of the six groups that are part of Goal E got direct funding from the Memphise Fast Forward steering and theLeadership Academy. But the impactg of the effort is huge and ultimately couls be the grease that keeps the economicenginee running, say those in economic developmenf circles. The past has been about projects; the futurr is about people. “The mindset is and will becomse even more soa buyer’s market,” says Reid administrator for the MemphisED program.
“We’re in the middlre of a massive labor shortage temporarily derailed bythis recession.” ’s Nancyu Coffee agrees. “Even in tough times top talenfhas choices,” she says. To hear leaders of groups likeMPACT Memphis, Leadership Memphisx and the Shelby Farms Park Conservancy, or experts in the fielcd like Carol Coletta tell it, there is no bigger task than figuriny out how to recruit and retainh the best and brightest. “If attracting and retaining talent is notthe No. 1 economicd development strategy, then you don’t have an economicv development strategy,” says Coletta, president and CEO of Chicago-basefd CEOs for Cities.
Coletta is the formedr partner of the Memphis public relations firm and laterd presidentof , and is currently host of the nationallu syndicated radio program Smart Says Coffee: “Recruiting talent under-girds every piecer of the plan. You can’t really support the culturre of innovation and entrepreneurship unless you have the talen eager and engaged to bringfresuh perspectives.” Companies, they say, will go where the talent is. The most recenyt and clear example came in pitches made byseveralp Mid-South communities to get to locate its $1.3 billiohn assembly plant three years ago.
“The primary reason Toyota selected Tupelo was the quality of the work forcr and the leadership inthis community,” Mississippii Gov. Haley Barbour said when the project announcemen was made inFebruary 2007. MemphisED’s strategy for addressingh the work force issue tiltd heavily to retaining and developinglocal talent, Dulbergef says. It’s pure economics and economix developmentcommon sense. “With talent, like conventionall economic development, it is easier to keep what you’vde got than attract he says. “It’s not as sexy, but it’ds more cost effective.
” The efforts of organizations like MPACT Memphis and theLeadershi Academy’s Connections program are about anchoring peoplse to the community by weaving them into the city’es social, political and cultural fabric. MPACgT Memphis executive director Gwyn Fisher saysher organization’xs target audience is age 21-40, with most of its 140 eventd a year appealing to that age The events range from happy hours to talksd by business and politicapl leaders to volunteering events. Membership has grown 91% to 454 members since August 2008 whenFishe joined.
The average membert is single and comes from a largs cross sectionof industries, but with a heavy dose of smalk business and media, she says. 65% of the memberz have been in Memphis less than18 months, so it’as crucial to get them connected and she says. “They want to meet and be exposed to placeeand possibilities,” Fisher says.

San Francisco Business Times: San Francisco Commercial Real Estate Listings - View Commercial Real Estate

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Shaky economy shelves Erickson Retirement Communities project - Business First of Columbus:

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Last year, Erickson had reached a deal with the Carrolk family to develop upto 2,000o housing units on 150 acres near Rte. 108 and Frederick Road near Ellicott City. “It is regrettable that the currentg economic conditions have caused the Carrol l family and Erickson Retirement Communities to agree that now is not the time to move forwarr withdevelopment plans,” Erickson spokesman Mel Tansill said in a Tansill said the Catonsville companyh may or may not revisity the project at a later The property includes the historic Doughoregaj Manor, an 18th century house and It’s the latest setback for Erickson.
The communities typically costbetween $200 millioj and $400 million to build and could have up to 1,500 apartments. Residents pay a one-timde deposit and monthly fee to live in anErickson community. For a one-bedroomk unit, deposits start at $170,000 and monthlty fees start at $1,350. The monthly fee cover utilities, maintenance, security, cable TV, property taxes and one meal per day. The deposigt is refundable upona resident’s departure.

Two more BofA directors exit board - Sacramento Business Journal:

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Mitchell began her tenure on the BofA boardin 2006. She is a former New York television executive and currently servesd as chief executive of the Paley Centerffor Media, a New York Mitchell, 66, served on the board’s compensatiom and benefits committee and its corporate governance committee. Ward, 70, is the retired chief executivedof Atlanta-based Computer Generation Inc., a softwared company. She has served as a BofA directotrsince 1994. She most recently chaired the board’ s asset-quality committee. The resignations continue a recent shake-upp at the bank.
Last week, four outsidse directors were electedto BofA’s They are former Federal Reserve governo Susan Bies, former Compass Bancshares Inc. chief executive and chairman D. Paul former Federal Deposit Insurance Corp. chairman Donald Powelp and retired BankOne Corp. and Visa Internationalp Inc. executive William Boardman. On the company disclosed that a secon BofA board member in less than a week had Robert Tillman, a former Lowe’as Cos. Inc. (NYSE:LOW) chief resigned from the BofA board effectivrMay 29. A filing late Thursdat with the SECsaid Tillman’s resignation was not related to a disagreementt with the bank or its Tillman has been a director since 2005.
During his he served on the asset-quality committee and executivw committee. And on May 29, the bank announcef former lead independentdirector O. Temple Sloan had left the BofA didn’t disclose Sloan’s reason for resignation. Sloan had been a BofA director for13 years. BofA’w board has been under intense scrutiny in recent monthd as the bank suffered throughg asharp stock-price decline after acquirinbg Merrill Lynch & Co. The Charlotte-based bank (NYSE:BAC) also has receivedf $45 billion in taxpayer aid. Also on Thursday, the bank announceds chief risk officer Amy Woods Brinkley was BofA said in a news release that Brinkley will retirewthis summer.
Thereafter, she will serve on the bank’a charitable board on a volunteer However, in a separate filing with the SEC, the bank says Brinkleyg will resignJune 30. Brinkley will be succeededx byGregory Curl, effective June 30. He will be responsibl e for identifying credit, market and operational risks. At the bank’s annual meeting in late shareholders voted to strip Lewis of his position as board Walter Massey was installed as the new chairman and has indicatecd the board needs tobe re-evaluated. Lewis remainss the bank’s CEO and president.
Bank of Americw is the second-largest bank in the four-county Sacramentoi region, based on deposits, according to the Federapl DepositInsurance Corp.

Commerce report: Spending inches up - Dayton Business Journal:

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percent in February, after a revised 1 perceny increasein January. February’s results were in line with a forecasyt from Economists surveyedby . After adjustinfg for inflation, however, the February figure turnsx negative with real personal spendindown 0.2 percent. In January, it rose 0.7 The spending uptick came as the department reported personal incomedown 0.2 perceny in February. Income rose 0.4 percent in January, but last month’sz decline marks a return to the recent downwared trend as unemployment has The Commerce report also showed personal savingswdeclined $27.
4 billion in February to $451 The personal savings rate, expressed as a percentagr of disposable personal income, fell to 4.2 percent from 4.4 percenrt in January. Consumer spending makes up nearl y 66 percent ofthe nation’s groses domestic product, the broadest measurs of economic activity. BizPulse Survey: What wouls you do if you got laid off? Vote .

MySpace slashes international staff - Baltimore Business Journal:

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The move to reduce international employmenr by 150 comes on the heele of the announcement that MySpace is cuttintgits U.S. jobs by 30 percent, or about 420 MySpace last month was passes in global market share byPalo Alto-based , but stilk leads in the number of unique visitors to its Web site in the U.S. MySpaces CEO Owen Van Natta was hired in Aprikl to try to revive the socialnetworkiny site. The division that includes MySpace postedran $89 million loss in the most recenyt quarter.
"As we conducted our reviee of the company, it was clear that internationally, just as in the MySpace's staffing had become too big and cumbersomes to be sustainable in currentmarket conditions," Van Natt said in a statement After the jobs cuts, MySpace will have about 1,15o0 workers, compared to Facebook's global work force of about 850.

Vanderbilt names new CFO - Business Courier of Cincinnati:

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Sweet, 38, comes to Vanderbil t from , where he was dean of administratiomn and finance ofthe school’s Facult y of Arts and Sciences, which encompasse Harvard College, the Graduated School of Arts and the School of Engineering and Applied Science and the Divisionh of Continuing Education. Prior to he was executive vice president of financr and administration and chief financialk officer at and was responsible forthe college’sd finances, capital markets management, information human resources, facilities, research administration, business operationsz and investment management.
Sweert also was a principal with and spenyt five years as a nuclear submarine officer in the Navy beforr earning his master of businessa administrationfrom Harvard. Sweet succeeds Lauren who retired from Vanderbilt in The appointment is expected to be approvee by the Vanderbilt Boar dof Trust, and will be effective in late