03.04 2010

Top Examples of Failed Business Ideas

What are some of the top failed business ideas? Is it always the type of business or is the failure owner related? Are certain businesses destined to fail? Jean Scheid, a business owner, analyzes examples of bad business trends and ideas.

What Makes a Business Fail?

It’s not necessarily the idea that makes a business fail. It can be poor operation, under-funded capital or bad employee or management selection. Often, however, a bad idea is the reason for failed business ideas.

Starting any new business can be challenging but even more so when it’s an untried idea. Business ideas that plan on selling only one unique product can fail due to lack of interest or market overflow or heavy penetration. Whi

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03.04 2010

Staying up to speed: 60-year-old company changes with the times

Scott Gilles runs Gilles Cycling & Fitness continues today under the ownership of grandson Scott Gilles.

Gilles Cycling & Fitness

* Year founded: Simon and Agnes Gilles opened the store in 1942.

* Number of employees: 42 — 23 of whom are full time.

* Web address: gillesfitness.com

* Street address: 1412 S. Green River Road, Evansville, IN 47715

* Annual sales: $1.6 million in retail sales

* Biggest annual expense: Employee payroll

What’s the secret to success in retail?

It all comes down to customer relationships, says Scott Gilles, left, owner of Gilles Cycling & Fitness. <

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03.04 2010

Verizon to expand its 3G network

Verizon Wireless plans to spend $16.8 million in 2010 on adding more capacity to its advanced high-speed 3G network in Indiana, with $1.6 million of that amount dedicated to the Evansville area, according to company officials.

The coverage for the Evansville area includes Patoka, Princeton, Owensville, Haubstadt, Mount Vernon, Newburgh, Chandler, Boonville, New Harmony, Poseyville Wadesville in Indiana.

The statewide enhancements are designed to ensure that Verizon Wireless customers can continue using their wireless devices to access the Internet, view high-quality videos, download music, games and ring tones, and send and receive e-mail.

“We stay well ahead of our customers’ growing needs by studying their data usage habits and test driving our network to experience firsthand the speeds and quality of our 3G network,” said Greg Haller, president Indiana/Kentucky/Michigan Region.

The capacity-improvement project is part of the company’s overall $57.4 million investment planned for its Indiana network this year, which will also include building several new cell sites, said officials.

The project entails installing equipment on hundreds of cell sites across Indiana, thereby increasing data capacity of the network across the state, including by 20 percent in the Evansville market.

Since 2000, Verizon Wireless has invested $1.06 billion on improvements to its wireless network in Indiana.

01.04 2010

Marina Pointe Pavilion plans coming into focus

Artwork by James Goodall This is an artist’s rendering of Marina Pointe Pavilion.

EVANSVILLE The 20,000-square-foot Marina Pointe Pavilion, currently under construction on the Riverfront off Waterworks Road, will be alive with food, family fun and music, come Fourth of July weekend.

Ron Riecken owns 20 acres of Riverfront land that includes his Inland Marina and the construction site for the seasonal pavilion.

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31.03 2010

Tanning parlor owner says customers will pay tax

CHATTANOOGA — The owner of a Chattanooga tanning parlor said a 10 percent federal tax on businesses that use ultraviolet tanning beds will be paid by customers.

Tan-O-Rama owner Brian Henry said the tax that is part of the new health care law goes into effect July 1 and “is going to be passed on.”

Henry told the Chattanooga Times Free Press the tax is “going to hurt a lot of the smaller tanning salons.”

Joyce Land, owner of Sunstar Tan in East Ridge, said the new tax could add to the count of tanning parlors that have already closed because of the recession. She said

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31.03 2010

Albany grant will help veterans become entrepreneurs

The Small Business Development Center at the State University of  New York is among 10 centers to receive federal grants that will help them increase entrepreneurial assistance to veterans. The local center, based at the University at Albany, is receiving funds for the second year.

The centers will provide services to veterans through distance learning and online business counseling, as well as provide services to veterans locally. An announcement from the U.S. Small Business Administration didn’t say how large the New York grant was.

The New York State center has created a Veterans’ Business Services web page at www.nyssbdc.org/services/veterans/veterans.html.

29.03 2010

Soaring Goldman Indicator Forecasts Spike In Tomorrow’s ISM Manufacturing Index

The next release of the Institute for Supply Management’s (ISM) manufacturing index is coming on April 1st. Barring an April Fool’s moment, it’s likely to be good.

That’s because Goldman essentially puts together their own index that is very similar to the ISM, and they get it out ahead of the ISM.

This Goldman index, the Goldman Sachs Analyst Index (GSAI) is soaring and just hit a six-year high, which means the upcoming ISM will probably be rising: