Posts Tagged ‘business’
Staples weighs in on Office Depot’s store closings
Staples didn’t waste much time picking on Office Depot after its office supply store rival announced it was closing 112 stores yesterday. Fortunately for us, none of those stores are in Nashville, but Staples made sure its customers knew Office Depot is facing tough times by emailing its customers (see image above) this morning:
With the uneasy economy and recent headlines about suppliers like Office Depot, business owners face all sorts of questions: Will troubled retailers honor my rewards checks? Where will I go for office essentials? Will I get my products delivered accurately and on time?
Staples even quoted the Office Depot news release headline in the email. I suppose all is fair in love, war and business to a degree, but that sure is rubbing salt in the wound. I don’t have a strong preference for either brand (or OfficeMax, for that matter), but I have to give Staples equal marks here for rapid response and cruelty.
Tags: associated press, business, economy, marketing, office depot, recession, staples, the tennessean
Local entrepreneurial “ecosystem” needs a boost
Last week, I quoted NBJ Editor Lance Williams as saying that Nashville needs to do a better job connecting its capital with its entrepreneurial community. At least one local venture capitalist, John Chadwick, agrees. According to him, he’d welcome the competition because it would strengthen Nashville’s economy:
Chadwick said that while he enjoys Claritas’ singular standing in Entrepreneur’s annual ranking, he believes that in the longer term it’d be better for everyone if there were more early-stage investors active in Nashville. Sharpening the point, Chadwick explained that more Tennessee funds making more early-stage investments – with an eye for good deals in their own backyard – would strengthen the state’s entrepreneurial “ecosystem,” deepen the pool of capital and create a bigger pipeline of the talented executives and specialists who are so critical to early-stage success.
I think Chadwick is right that increased investment in local startups would have a snowball effect here, and I’d like to see that happen.
Tags: business, claritas, entrepreneurism, john chadwick, nashville, venture nashville
Broad-based Nashville economy poised for steady growth
There’s an upside to not having a booming tech industry: not having a busting one, either. Nashville Business Journal editor Lance Williams said that the thing he notices most is that the city has a very broad-based economy.
Like anywhere else, Williams noted, Nashville isn’t recession proof. Nashville’s broad base means Nashville may be in a better position to avoid especially painful bust periods, though. Of course, conversely, it may miss out on the highest of the highs during boom times, too. He said that he thinks Nashville is “poised for nice, steady, strong growth” over the long term and credited the city’s health care and higher education communities as evidence of its well-rounded economy.
Compared to Nashville, Williams said that Austin, where he worked for the Austin Business Journal until a few months ago, is “very up and down” because of its robust technology industry. It operates very cyclically. He arrived in 2003 as the “ashes” of the dot-com bust had mostly disappeared and covered the city during four boom years before taking his new job here in Nashville. He mentioned that layoffs at major players such as Dell and AMD were taking place as he was getting ready to relocate. The Austin economy endures more periods of boom and bust, he said, because of the depth and breadth of its technology industry.
Williams noted that Austin was a “sleepy” town in the 60s and 70s and only began to emerge as a tech leader in the 80s, when some fellow (Michael Dell) started selling computers built in his dorm room and another guy (Whole Foods Market founder John Mackey) got into health food. That worked out pretty well.
Tags: austin, austin business journal, business, economy, growth and development, john mackey, lance williams, michael dell, nashville, nashville business journal
Nashville capital flows for health care, not for technology
Nashville Business Journal editor Lance Williams, who relocated here three months ago following stints in Austin and Cincinnati, was in the office today to talk to our staff.
Williams was honest that a big downside for Nashville, one I’ve heard mentioned elsewhere, is that access to capital for new business ideas is “horrible outside of health care.” I’m aware that the Nashville Technology Council and other organizations in town are working to change that, but in the meantime Williams said that the city isn’t a great place to be a tech company that’s looking for investment dollars.
What advice did Williams offer for changing things? “Continue to be welcoming, because the money is here. It just needs to be better connected.” It sure does.
Tags: business, economy, growth and development, lance williams, nashville, nashville business journal, nashville technology council
Tennessee Tax Holiday a target for Lands End promotion
I love Lands’ End because they sell great, classic clothing at reasonable prices, and I’m impressed by a marketing message I received from them today. The Wisconsin-based retailer sent me an email (pictured above) that arrived this morning about Tennessee’s sales tax holiday, which starts today and continues through Sunday (Aug. 1-3). Purchases made at the Lands’ End Web site are eligible for the sales tax holiday.
This is an example of savvy marketing, good research and great timing. Well done, Lands’ End.
Tags: apparel, business, clothing, lands' end, marketing, nashville, revenue, sales tax, tennessee, tennessee tax holiday
