ED Futures Newsletter

Dear ED Futures Subscriber:

How open are you to to new ideas? I try to stretch my mind on a regular basis. I just finished reading Patricia Aburdene's Megatrends 2010, which is a real delight from my standpoint. If you liked the earlier Megatrends series by John Naisbitt and Aburdene, you might like this one.

Here is a short synopsis. Today's business world is undergoing massive change. As corporate scandals, the tech bubble and a mistrustful public compel business to demonstrate ethics, trust and integrity, a grassroots movement of CEOs, investors, consumers and "ordinary" managers are living the ideology of Conscious Capitalism.

Megatrends 2010 tells you how to capitalize on the changes ahead. Highly successful business leaders at all levels are themselves using a variety of consciousness transforming practices and encouraging their colleagues to affirm socially responsible values at work. As more people turn inward to embrace spirituality and values, leading-edge companies have discovered that social and environmental values enhance profit and productivity.

By design, the book challenges conventional wisdom and opens the floodgates to the next paradigm to shake the planet. Megatrends 2010's blend of meaning, morals and bottom-line economics celebrates the demise of Business as Usual and the birth of Conscious Capitalism.

Key Points from Megatrends 2010 include:

1. Explains why firms like Timberland, Wainwright Bank, 3M, Chiquita Brands, Motorola, Intel and others are taking a stand for corporate social responsibility.

2. Shows that more than 63 million Conscious Consumers prefer to buy from companies who share or reflect their values and lifestyle.

3. Describes the surprising power of conscious techniques to enhance productivity.

4. Shows that socially responsible and green funds often outperform mainstream mutual funds.

5. Explores the New Economy of Consciousness and the quest for ethics in business within the legal confines of modern capitalism.

For some, the book may be a bit too "new agey," and for others, it casts a very believable vision of where business and the economy are headed.

Take a look and let me know what you think. You can buy the book at Amazon.com.

Here are some articles from the ED Futures website you might find interesting:

Industry Profile: Commercial Airlines

No Job Gains in Inner Cities

Iowa is Gaining Ground

Education Matters

New Themes for Parks

Economic Developer as Social Entrepreneur

Target Industries: Wineries

Target Industry: Misc. Capital Goods

Refer your friends to ED Futures. They can sign up using this link.

As always, we look foward to hearing from you.

Sincerely,

Don Iannone
Publisher
Email: dtia@don-iannone.com
Tel: 440.449.0753

More Favorite Leadership Quotes

"It's hard to lead a cavalry charge if you think you look funny on a horse."
--Adlai Stevenson

"Leadership can be thought of as a capacity to define oneself to others in a way that clarifies and expands a vision of the future."
--Edwin H. Friedman

A Couple Favorite Leadership Quotes

"The very essence of leadership is that you have to have vision. You can't blow an uncertain trumpet." ~ Theodore M. Hesburgh

"Management is doing things right; leadership is doing the right things." ~ Peter F. Drucker

New Indiana Labor Market Data Site

The Indiana Department of Workforce Development has launched a major upgrade of the content and usability of the Labor Market Information data it regularly compiles on Indiana’s workforce.

Throughout 2006, the department will systematically improve upon and develop new modes of information on various labor market data, statistics and trends. Included will be a new labor information web site, scheduled to launch in March of 2006.

“As part of our focus on customer service, we are committed to improving all levels of our various service-lines, including labor market information” said Ron Stiver, Commissioner of the Department of Workforce Development. “The Labor Market Information data we regularly produce can become much more relevant and useful for policy-makers, workforce professionals, and the general public through these upgrades.”

Read more here.

One to Read Over the Holidays

To Be of Use: The Seven Seeds of Meaningful Work
By Dave Smith
New World Library, cloth, $23.95.

The co-founder of Smith & Hawken, Smith calls for a return to work with human values, and shows how business can be a force for change when driven by simple core values. Smith shapes his commentary around the seven virtues of Christianity: faith, hope, justice, temperance, prudence, courage, and love.

Business Ethics Factoid

This is one you will want to hear.

When top management talks about the importance of ethics on a regular basis, it can reduce misconduct in an organization by 30 percent. Of employees who observed misconduct at work in 2005, 55 percent reported it to management -- a 10 point decrease since 2003.

Source: National Business Ethics Survey, 1994-2005, Ethics Resource Center

Economic Developer as Social Entrepreneur

Should economic developers be considered 'social entrepreneurs?' Maybe some should, according to an article in Leader to Leader Journal. Think about it.

Social entrepreneur is a new term, much in the news these days. Social entrepreneurs are individuals who approach a social problem with entrepreneurial spirit and business acumen. Whereas business entrepreneurs create businesses, social entrepreneurs create change. But is social entrepreneurship actually something new?

Social entrepreneurship is not a new phenomenon. Only in recent years have these changemakers become known as social entrepreneurs. The emergence of social entrepreneurship as a recognizable field is most likely due to a variety of factors, including current dissatisfaction with the pace and management of standard charities and foundations.

Source: Is the Social Entrepreneur a New Type of Leader? by Lynn Barendsen and Howard Gardner, Leader to Leader, No. 34 Fall 2004

Asian Economies Set to Continue Growth Says OECD

Asian economies, including China, should continue to show solid growth over the next two years and Beijing should let the yuan appreciate further to tackle problems caused by its current account surplus, the OECD says.

"The ongoing boom in non-OECD Asia should continue to provide an important impetus to the Australian, Korean and New Zealand economies," the Organisation for Economic Co-operation and Development said in its twice-yearly economic outlook.

Australia, New Zealand and South Korea are all members of the Paris-based think tank. China is not but is included in the report because of its growing importance in the global economy.
The OECD said economic growth in China was likely to stay above 9.0 per cent in 2006 and 2007, increasingly driven by domestic demand.

Read more here.

Who's the Richest of Them All?

New Census Bureau data seemed to restore Connecticut's longstanding status as the wealthiest state in the nation: it edged out New Jersey by $53 in median household income for 2003, after falling behind NJ the year before by $389.

According to the data, Connecticut's 2003 median household income, which included capital gains and all other household income, was $56,409 compared with $56,356 for New Jersey. New York, at $44,139, ranked 20th.

"We have alternative measures of income," said James W. Hughes, who is dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University in New Jersey. He warned against drawing simple conclusions from any of the numbers. "Another take on all of this is that higher income than the nation as a whole doesn't mean we're living in the lap of luxury," Mr. Hughes said. "Housing costs are so much higher that the cost of living actually cancels out that advantage."

Read more here.

New Themes for Parks

Here is a really interesting set of ideas from Thomas Frey at the DaVinci Institute in Louisville, Colorado.

Tom says "Great cities throughout history were known far and wide for the grand parks that served as their centerpieces. But what do we think about today when we conjure up the image of a park? Fresh cut green grass, trimmed trees, playground for the kids, and perhaps a stream of water running through part of it."

So what's wrong with our parks? They have "somehow deteriorated into rubber stamped open space, boiled down to the bare essentials of grass, trees, sidewalks, playgrounds, and benches - nothing memorable, with little to inspire the mind. While there are a few exceptions to the tedium of today’s park culture, like the famed sculpture parks in Loveland, they remain isolated examples of what most would aspire to become."

We need to re-imagine what parks are and can be in our communities. Frey says "For this reason, I would like to propose a new approach - the idea of participatory parks where the community decides on a particular theme and becomes integrally involved in creating the distinctive features. Participatory parks will range from active to passive on various community involvement scales, but in each case, the host city will set into motion a long range plan for people to rally around."

Frey suggests we consider these new types of parks:

1. Poetry parks.
2. Water sculptures.
3. Music coves.
4. Wind sculptures.
5. Graffiti arts.
6. Fire sculptures.
7. Game themed parks.
8. Performing arts parks.
9. Light themed parks.
10. History themed parks.

To learn more, visit the DaVinci Institute website.

Education Matters!

This is from the KnowledgeWorks Foundation (Cincinnati, OH) website.

What do we know about the needs of the 21st Century?

-We have moved from an Industrial Age to an Information Age. Being able to access and use information in a rapidly changing, globally connected world has become essential. While we used to primarily move goods and products, increasingly we are marketing “ideas” and managing data and information in a more diverse and virtual workplace. Even in established industries, skill requirements are changing.

-Our economy today has evolved into a knowledge and service-based economy.

-Continuing your education beyond high school substantially raises your income unlike anytime in our nation’s history.

-Education is key to self-sufficiency and impacts a state’s and communities’ economic health.

Thanks for the reminder KnowledgeWorks.

Message to economic developers: We need to do more to reflect these four simple principles in our work.

Iowa is Gaining Ground

As I watch states and what they do economic development-wise, I like what I see in Iowa. Here are a few clips from the state's ED website:

-Iowa has the fastest growing economy in the U.S. based upon the Gross State Product (GSP) (U.S. Bureau of Economic Analysis, 2003 to 2004) more...

-Per capita personal income in Iowa grew at the second fastest growth rate in the U.S. (U.S. Bureau of Economic Analysis, 2004) more...

-Exports of Iowa manufactured and processed goods grew to a record high of $6.4 billion in 2004, a 22 percent increase over the previous year. (U.S. Census Bureau) more...

-Sixth lowest nationally in business costs (Economy.com Inc. 2003)

-Among the top 10 states for “technology sophistication” in K-12 schools (Market Data Retrieval)

-Among the top 10 in academic research and development (National Science Foundation/Division of Science Res. Stats)

-Home to three state universities rated in the top 100 (Kiplinger)

Allegheny Conference on Community Development's Accomplishments

Recently the Allegheny Conference on Community Development in Pittsburgh released a list of accomplishments for 2005. You can read about it here.

Many challenges loom ahead for the Pittsburgh area, as well as other metro areas struggling to jumpstart job and business growth in an economic environment that continues to favor places like India and China.

DaimlerChrysler Expansion in South Carolina

DaimlerChrysler AG plans to open a new plant in North Charleston, SC, as it shifts where it assembles its Sprinter vans in the U.S.

The SC Commerce Department announced that Gov. Mark Sanford and state Commerce Secretary Bob Faith would be on hand Monday, Nov. 28, for a formal economic development announcement.

The North Charleston plant will initially employ 200 to 300 workers and hopes to expand to as many as 1,800 employees by 2010, according to anonymous sources several South Carolina newspapers.

Read more here.

No Job Gains in Inner Cities

Many of America's inner cities continue to hemorrhage jobs despite years of federal programs designed to improve their economies. Nearly half of the country's 82 largest municipalities lost jobs from 1995 to 2003, according to a new Harvard University study. By comparison, only one of the surrounding metropolitan areas lost jobs during the same period.

"It's sobering," said Michael Porter, a Harvard business professor who did the study for the university's Initiative for a Competitive Inner City. "It suggests that there are relatively few inner cities that are thriving in the sense of job growth."

Porter and his team analyzed how many jobs were added or lost in inner cities with more than 50,000 residents. They found that only 10 added jobs at a higher rate than surrounding metropolitan areas. All 40 inner cities that lost jobs did so faster than surrounding areas.

Read more here.

Merck, Even Pharmaceuticals Cutting Jobs

Merck & Co. Inc. may cut thousands of jobs and enact other changes as part of a major restructuring plan the pharmaceutical maker was expected to announce this week, according to a published report.

The Wall Street Journal, citing a person familiar with the matter, reported that the plan - expected to be announced this week - includes cuts in operations within and outside the United States and a tighter focus on certain disease-research areas. Last month, Merck cut 825 jobs worldwide.

Read more here and stay tuned.

ED Futures Newsletter

Dear ED Futures Reader:

By now, your Thanksgiving Holiday has ended and your mind is filled with thoughts about the mound of work that awaits you.

Here is a simple thought about Thanksgiving you might consider carrying back to work with you. For me, Thanksgiving boils down to "gratitude." It's about being grateful for our blessings, economic and otherwise.

Gratitude is a powerful thing. Here are a few of my favorite quotes on gratitude:

"At times our own light goes out and is rekindled by a spark from another person. Each of us has cause to think with deep gratitude of those who have lighted the flame within us." Source: Albert Schweitzer.

"The hardest arithmetic to master is that which enables us to count our blessings." Source: Eric Hoffer

"As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them." Source: John F. Kennedy

"If the only prayer you said in your whole life was, "thank you," that would suffice." Source: Meister Eckhart

"The deepest craving of human nature is the need to be appreciated." Source: William James

Since you were off enjoying the Holiday, perhaps you missed some of our recent articles. Here are some of the better ones posted to ED Futures in the past week:

Organic Foods Continue to Gain Traction (You asked about it and here it is.)

GM: 30,000 Jobs Gone by 2008 (Be grateful for what GM has given to all of us over the years, but wary of what the future may hold.)

GM's Loss = Toyota's Gain (Recall what I said about the auto industry being a zero-sum game?)

Target Industry: Government Contracting (This is important to your companies.)

Book Review: Leadership on the Line (Read this until my book on leadership comes out in late January.)

ED Organizations and How They Relate (Can we learn from business organization?)

Ontario Releases New Economic Competitiveness Report (Some good ideas and data in this one.)

Eminent Domain Update (As many of you know, I have my misgivings about the recent Supreme Court decision on this issue.)

Industry Profile: Commercial Airlines (Everybody should read this one.)

If you know someone who would like to subscribe to the ED Futures newsletter, here is the link to provide them.

Wishing you a happy and productive return to the office.

Sincerely,

Don Iannone
ED Futures Publisher
Email: dtia@don-iannone.com.
Tel: 440.449.0753

-----------------------------------

Eminent Domain Update

Many places are not happy with the five-month old decision by the Supreme Court allowing a Connecticut city to seize private property for a private development. Since then several states have lined up to ban or restrict the practice and dozens of others are expected to follow suit early next year.

Ohio Gov. Bob Taft last week signed into law a 14-month moratorium on the use of eminent domain when the primary goal is economic development. Legislatures in Alabama and Texas have also banned the practice, and Michigan is considering a constitutional prohibition against seizing private property for private economic development.

A measure was introduced this year in the Illinois General Assembly to prohibit eminent domain for economic development, unless approved by the Legislature. But the bill failed to pass before the Legislature adjourned.

I understand people's concern about this Supreme Court decision. From my assessment, most local governments are not prepared to handle this new authority correctly. This is a desparate time in many communities across America. Our economy is not in good shape, despite what the White House has to say, and state and local government finances have not been such a mess in a long time. There is reason to question how they might use the authority at this time.

What we might consider instead is starting an open dialogue about how to better balance public and private interests when it comes to development. That is a meaningful thing for national professional associations representing the economic development, community development, planning, and public administration practitioners might consider.

Read more here.

Cincinnati and Delta

Delta Airlines means a lot to the Greater Cincinnati area's economy. Cincy is one of the airlines major hubs and it has benefitted the region over the years.

Now, Cincinnati officials are concerned about what might happen if the wheels fall completely off the airline. Click here to read the story.

My take is that airlines will continue to play off places against each other for the best deal, especially as their finances remain troubled. Cincinnati is not alone in its worries about its major air carriers and what happens if they don't make it. Look around.

Update on Dallas

Click here to read an interesting update on Dallas and its efforts to advance its economy in the face of some major losses. Still a growing place, but needing to work much harder at ist growth than before.