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Recent Press Releases (U.S. and international) for magazine issues and staff changes may be found below. Please note that for many issues there exists only a highlights sheet, while for others there may also be a full press release. The cover of FSB's current issue is pictured at right. Please contact the appropriate communications staff member with any questions.
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Highlights of the Dec. 06/Jan. 07 Issue of FSB: FORTUNE Small Business
The full stories are available at FSB.com. COVER PACKAGE COVER STORY The Next Little Thing, page 21 When a new product from Microsoft debuts, it doesn't arrive quietly. Instead it gets tracked through the R&D pipeline by trade magazines, bloggers, and carefully controlled announcements from the marketing department. Small-business innovations don't work that way. To find these innovative companies you need a field guide, and that's where FSB comes in. This month FSB shows who's likely to make a splash in the world of small business over the coming year. • People: Check out the investor whose ocean buoys generate clean power. • Products: A new surgical screw made from cow parts; erasable tattoo ink; six-foot roses; an ATM for books; and more. • Trends: Look for hedge fund managers to start investing big in small companies.
INNOVATION A technology company that started out providing financial analysis to large firms such as Deloitte and McDonald's, StratBridge has created software that allows pro sports teams to sell more tickets faster. Previously when team executives tried to analyze how customers were buying seats, they had to wait as long as two days to receive paper reports. The documents came in a clunky format that had to be deciphered, and each covered just one or two days. Meanwhile, opportunities were passing by, as seats that might have sold at a discount instead went empty. StratBridge, which created its StratTix technology for the Boston Celtics three years ago, offers the first software to give teams live updates on how seats are selling and at what prices.
STARTUP Where Small CEO's Get Paid Best, page 19 Looking for a new home for your business? Consider New York State , where CEO's of small companies enjoy the highest pay in the country. A new study of 40 states shows that entrepreneurs in Delaware (No. 5), Mississippi (No. 9), and Tennessee (No. 2) also enjoy salaries greater than the national average of $258,400. But Oklahomans (No. 40) pull in only about half that amount.
Clogging for Dollars, by Ian Mount, page 20 Crocs clogs have launched more than a fashion craze. The popular perforated shoes have also inspired a piggyback business. Rich Schmelzer, a software entrepreneur from Boulder , started Jibbitz in August 2005, selling ornaments designed by his wife, Sheri, to fit in the footwear's famous holes. By September 2006, Jibbitz was pulling in $2 million a month, selling in 4,000 stores in North America (and several hundred more internationally). In October, Crocs bought Jibbitz for $10 million upfront and another $10 million if the company hits earnings targets.
Wanna Piece of Me?, page 19 Stocks, bonds, or Steen? That's a question that 19-year-old Ron Steen of Anaheim Hills , Calif. , hopes investors will wrestle with. In August, Steen put himself on eBay to pay for his college education, offering 2% of all future earnings to the highest bidder, with a minimum $100,000 bid.
A Tax That Gives Back, by Brian Dumaine, page 12 Today an entrepreneur who needs to buy a new delivery truck or boiler or air conditioner or warehouse faces a tough calculation involving lots of guesswork: Will fuel prices remain relatively high, justifying the purchase of biodiesel-fueled or hybrid vehicles, highly efficient (but expensive) heating and cooling machinery, and heavy insulation? Or will they fall, making the investment in energy savings an error that pushes his costs above those of competitors? Falling fuel prices may seem like good news for entrepreneurs. But a properly designed gas tax could be even better.
PLUS: Arnold 's Risky Power Play, by Elaine S. Povich, page 14 California 's small businesses worry that a new energy mandate will dim their prospects. A bill that California 's state government passed in September requires all California businesses to reduce greenhouse gas emissions beginning in 2012.
CASH FLOW Digital Payday, by Fawn Fitter, page 67 A new version of direct deposit-for workers who don't have bank accounts-is catching on with small-business bosses. Payroll debit cards are a variant of stored-value gift cards. The employer sets up a central payroll account and issues a card to each employee, electronically depositing into the account the amount owed each payday. Employees can access their pay either by withdrawing cash at any ATM or by using the card to make purchases and get cash back. The company's payroll vendor tracks all the debits and credits for each paycard, sends out paper pay stubs and tax forms, and provides a way for employees to check their balances either online or by phone. Paper checks cost $1 to $2 each, while loading a paycard costs about 20 cents.
OFF HOURS Small Breweries Big Beer, by Christopher S. Stewart, page 86 FSB visits Colorado , the second-largest beer-producing state in the Union and gets a taste of why business is booming at craft breweries. Colorado may be home to Coors, but connoisseurs of inspired microbrews also know that with 92 small breweries-second to California 's 224 and ahead of Washington 's 80-it's a fine place to hop off the slope and hit the tasting rooms. This is a heady time for boutique beer producers all over the country. After an Internet-style rise and fall in the late 1990s, craft beers are on the climb again, with $4.3 billion in U.S. sales in 2005, a 13% lift from a year earlier. (By comparison, mass-market beer sales slipped 1.5% over the same period.)
COMPETITION When the head of a small business mortgage company in Connecticut lost her trade secrets, workers, and customers to a giant rival, she fought back. What You Can Do, page 83 Experts warn that any small company can be harmed by a departing employee. Here's how to protect yourself: • Guard your trade secrets • Include a noncompete clause in your employee agreement • Educate employees
NOT ONLY FOR PROFIT The Resort that Serves its Staff, by Anne Field, page 72 Three passionate entrepreneurs turn around a rustic lodge-and the lives of the needy youth they employ. Evergreen Lodge is a rare phenomenon: a business that has achieved its dual mission of giving back to society and earning a profit. While building its thriving internship program, Evergreen Lodge achieved about $3.5 million in sales for 2005 and should exceed $4 million for 2006. So far, 40 youths have completed the internship program, which now includes about 20 recruits a year.
FSB is available in digital format. To access this version go to: http://digital.fsb.com
For further information please contact: Brett LeVecchio
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