Changing Careers Midstream
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Restaurant investments The dreams and the reality Pages 20-21 OCTOBER 25, 2016 • VOL. 3 • NO. 22 • $2 Inside CHANGING CAREERS Starbucks power Another shop bodes well for downtown MIDSTREAM Page 9 Carol Arnott-Robbins did it, and so can you Fast farewells, long goodbyes Funeral industry changes with times Pages 22-23 Corner Office Teresa Avery followed her heart to nonprofits Page 25 Special candidate questionnaire inside, pages 10-17 Photo by Ron Dubick In this issue First Look .......................... 3 Business News .............4-23 Viewpoint ........................ 24 Spotlight ......................27-28 DBT Book of Lists: Staffing Firms ......................... 29 Market Watch Smartboard ..................... 34 Smyrna office property on U.S. 13 for sale Readers’ Guide ............... 35 Page 35 2 OCTOBER 25, 2016 DELAWARE BUSINESS TIMES www.DelawareBusinessTimes.com WE DON’T MAKE ADS. We make experiences. We make an impact. We make a difference. We make your competitors jealous. We make people click. We make wow. But we don’t make ads. Branding • Advertising • PR • Media • Digital • a-b-c.com www.DelawareBusinessTimes.com DELAWARE BUSINESS TIMES OCTOBER 25, 2016 3 VOL.VOL.VOL. 3 2 2NO. NO. NO. 22 17 15 OCTOBER AUGUST JULY 21, 18, 25, 2015 2015 2016 FIRST LOOK The ITALIAN-AFoundedMERICAN 2014 HERALD Are you prepared to protect the biggest A Biweekly Newspaper Serving Delaware’s Business Community Vol. 3, No. 22 dated 25 October 2016, © Copyright 2016 by Today Media, All Rights Reserved. thing you have to lose — your reputation? This newspaper or its trademarks may not be reproduced in whole or in part in any form or by any means electronic or mechanical, Watching Wells considering. of accountability including photocopying or recording, or by any information storage Fargo CEO John First, from a reactive point of view, I’ve worked with a number of and retrieval system now known or hereafter invent without written permission from the Publisher. For licensing, reprints, e-prints, Stumpf twist in the understand the four sources of a crisis not-for-profits where a not-closely plaques, e-mail [email protected]. wind — deservedly that can threaten reputation: supervised official has stolen large sums CEO/President so — before his •Mission failure of money. I’ve worked on the issues of Publisher forced dismissal •Leadership failure predatory sexual behavior in schools Robert F. Martinelli reminds us of •Human failure and churches, as well as the workplace. News Senior Reporter the case just a six •Acts of God. In one case, several women of a well- Kathy Canavan Sam Waltz months ago where Yes, for the most part — with perhaps regarded physician began to report that Acting Editor Founding Publisher Volkswagen CEO the exception of acts of God, like a — after 30-plus years in practice — Christi Milligan Martin Winterkorn lightning strike that kills people — he’d begun to grope some of his female Copy Editor was forced into his they can be prevented. A good audit patients. In another, one of the state’s Al Kemp own resignation. accomplished on an annual basis allows best-known accountants had stolen Director of Sales and Marketing Such is the power of reputation, and an organization to look at its exposure, millions of dollars, albeit not from his Amy Colbourn the value put on it. anticipate and remediate. firm or its clients. Director of Advertising It can cost political incumbents — Mission failure occurs when the So, why is this important?? Avie Silver Delaware’s former State Treasurer just two organization fails spectacularly in its A crisis can cost an organization its Sales or three years ago and the state’s second- mission, e.g., the hospital that kills its future, even its present. They may be Lisa Fleetwood highest executive in the person of the New patients rather than cures them (e.g., the less important in really small businesses, Art Director Suzanne Duffy Castle County Executive in September. macabre 1971 Paddy Chayefsky black which simply go out of business and fail Production Manager It can cost corporate chieftains who comedy “Hospital” starring George C. when a crisis occurs. C. Belinda Cimo seem beyond reach, scrutiny and Scott), the ag chemical that kills crops as But in larger privately held or publicly Graphic Designers accountability, perhaps the case in well as weeds, etc. traded businesses, as well as even Elena Menaquale recent corporate adventures for DuPont, Leadership failure occurs when an small nonprofits as well as larger ones, Heather Vega leading to its CEO being deposed, or organization’s leaders don’t exercise the government, higher education and Vice President of Business Development even Hercules where a bad acquisition requisite stewardship of their charge, health care, diligence in this essential. Charlie Tomlinson created the vulnerability that led to its that is, nurturing businesses through In what I call the “shoot the Founding Publisher own acquisition by Ashland Chemical. change, growth, challenges, etc. In survivors,” or even “shoot the Sam Waltz It can cost not-for-profit leaders — effect, that’s what activist investor messengers,” when a particularly messy For Advertising information and their boards — when they stumble, Nelson Peltz charged the most recent issue occurs, even the innocent are not [email protected] e.g., the social services agency where generation of DuPont leadership with. safe because of a variety of issues, e.g., (302) 504-1326 the daughter of the founder was accused Human failure arguably is the most duties of loyalty, fiduciary responsibility, For Subscription information of having sex with a minor who was an common. It’s “people being people,” with etc., even though they may discover the www.DelawareBusinessTimes.com/Subscribe agency client. all the human weaknesses that come issue and report it. Ultimately it can cost (800) 849-8751 It can cost small and mid-sized with people. It’s the financial person the organization its own survival. To submit Press Releases or Story Ideas, businesses, e.g., the founder of a who steals money. It’s the engineer who Managing expectations — along [email protected] Delaware solar energy company where cheats — as did VW’s engineers on its with great stewardship — really is a Today Media actual financial performance apparently emissions. It’s the sales people who make key, and building a strong culture that President: Robert F. Martinelli did not match what the company up sales, e.g., a well-known Delaware exemplifies the highest aspirations is a Vice President: Ralph A. Martinelli Secretary-Treasurer: Richard Martinelli was reporting, or the state’s beloved solar company whose CEO was “booking great approach. Chairman: Angelo R. Martinelli Wilmington Trust Co. sales revenues” that had not occurred to Think MBNA and its “Think of Delaware Business Times is printed 26-times per year by Today Media, Talking about that last week with create a misleading P&L. yourself first as the customer,” where 3301 Lancaster Pike Suite 5C, Wilmington DE 19805 and is available by subscription for $59.00 per year. Single copy/back issues are available at the some not-for-profit leaders prompted In understanding the capacity for MBNA built the most extraordinary cover price of $2.00 plus $2.00 shipping and handling. Attention Postmaster: me to recall some of what I’ve taught human failure, one needs look at only culture in its virtually overnight growth. Send address changes to Delaware Business Times, PO Box 460516, Escondido, CA 92046-9808. Application to mail at periodicals postage prices over the years at universities and the handful of things that drive people: Ditto to WSFS Bank and its redefinition is pending at Wilmington, Delaware post office and additional mailing offices. workshops regarding reputation and •Money, or the lust for it of the WSFS brand to “We Stand For Delaware Business Times cannot be responsible for the return of unsolicited material with or without the inclusion of a stamped, self-address return crisis management. Because so many of •Sex, speaking of lust Service,” with a great customer promise envelope. Information in this publication is gathered from sources considered to be reliable, but the accuracy ad completeness of the information cannot our readers work in industry, serve on •Race, in all its permutations on which it delivers day in and day out. be guaranteed. No information expressed herein constitutes a solicitation for the purchase or sale of any securities. not-for-profit boards, or are otherwise •Power, or the lust for it Don’t find yourself in a reputational active in Delaware public life, it’s worth •Non-performance and the avoidance crisis. Be proactive. n BONINI VS. CARNEY tread lightly as far as staffing and contracts, and aggressively Gubernatorial candidates Republican Colin Bonini and pursue past-due accounts ...................................................15 Democrat John Carney offer their views on the state’s spotlight RESTAURANT REBOOTS financial future and policy priorities ................................... 6, 8 Whether you’re a novice or an expert, buying an existing Careers THANK YOUR LUCKY STARBUCKS restaurant can present unique challenges. Just ask the Buccini/Pollin Group succeeded in bringing two Starbucks owners of Domaine Hudson, Summer House, Salt Air, Po’ In an era when “career path” is more a work-in-progress to two of their Wilmington properties in rapid order in late Boys, the Buttery or any of the successful names on the than