DOCSLIB.ORG

Municipality

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

TheMunicipality Your Voice. Your Wisconsin. January | 2019 2019–2020 LEAGUE LEGISLATIVE AGENDA Split Party After the Retail Apocalypse, Preparing Wisconsin New Records Control is Good Small State Agency — Prepare for the Property Opportunity Zones Schedule Approved for Municipalities Big Statewide Impact Tax Meltdown for Investment for Municipalities 4 8 The Municipality12 | January 2019 20 24 1 Is there a company that insures only cities and villages? Oh yes, dear Why LWMMI, of course For 33 years, the League of Wisconsin Municipalities Insurance Program has responded to the coverage needs of local cities and villages, saving them substantial amounts of money in the process Protecting The Communities We Live In. 608.833.9595 | www.LWMMI.org A Mutual Company Owned by Member Cities and Villages. TheMunicipality The Municipality Official Monthly Publication of the League of Wisconsin Municipalities January | 2019 Volume 114, No. 1, January 2019 Editorial Offices 131 W. Wilson St., Suite 505, Madison, WI 53703 Feature Dial (608) 267-2380 In-State (800) 991-5502 Fax: (608) 267-0645 Small State e-mail: [email protected] Split Party Agency — Here’s to Did You Website: www.lwm-info.org Control is Good for Big Statewide You Know? The Municipality serves as the medium of Municipalities Impact exchange of ideas and information on municipal affairs for the officials of Wisconsin cities and villages. Nothing included herein is to 3 4 8 11 be construed as having the endorsement of the League unless so specifically stated. The Municipality (ISSN 0027-3597) is published monthly at $25 per year ($5.00 per copy, back After the Retail Preparing issues $5.00 each) by the League of Wisconsin Apocalypse, Wisconsin Municipalities, 131 W. Wilson St. Suite 505, Madison, WI 53703. Periodical postage paid at Prepare for the Opportunity Zones Madison & additional offices, WI. POSTMASTER: Property Tax Meltdown for Investment Send address change to: The Municipality, 131 W. Wilson St. Suite 505, Madison, WI 53703 12 20 BOARD Tammy Bockhorst, Village Trustee, Shorewood Erik Brooks, Mayor, South Milwaukee Legal Joe Chilsen, Mayor, Onalaska Kathy Ehley, Mayor, Wauwatosa Mark Freitag, Manager, Janesville New Records For the Good Legal Schedule Approved FAQ Tim Hanna, Mayor, Appleton of the Order Captions Jim Healy, Administrator, Richfield for Municipalities Cavalier “Chevy” Johnson, Alderman, Milwaukee Deb Lewis, Mayor, Ashland Justin Nickels, Mayor, Manitowoc 24 26 28 29 Maureen Murphy, Administrator, Mount Pleasant George Peterson, President, Rothschild Todd Schmidt, Administrator, Waunakee News/Updates/Training Zach Vruwink, Mayor, Wisconsin Rapids Tomika Vukovic, Alder, Glendale Save the Date for Anissa Welch, Mayor, Milton Upcoming the League’s 2019 2019 Meetings Transitions Sharon Wussow, President, Bonduel Webinars Building Inspectors Institute! STAFF Executive Director: Jerry Deschane 30 30 31 32 Deputy Executive Director: Curt Witynski Legal Counsel: Claire Silverman Assistant Legal Counsel: Maria Davis Member Engagement/Communications Director: Gail Sumi On the Cover Event Manager: Carrie Jensen Administrative Services Manager: Robin Powers Executive Assistant: Lori Matthews The League is kicking off the 2019–2020 Legislative Session with this cover photo because We Love Wisconsin, and so does Rosy’s daughter. She represents the future of our great state. Photo credit and credit for the Love T-shirt goes to Rosy Hawbaker. You can purchase her work on Etsy at RosyMadeDesigns. 1 WE HAVE YOUR BACK Choose WEA Trust for Your Health Insurance Needs Just like The League of Wisconsin Municipalities was created to help Wisconsin cities and villages, WEA Trust was created to help the public sector with heath insurance. That means we know public employees better than anyone To learn more about WEA Trust: else in the industry. Put your Trust in us and choose WEA ▸ weatrust.com/info Trust for your health insurance needs. ADV 0015-0118 0015 ADV -CustomerSolutionsAd - LWM.indd 2 1/2/18 3:22 PM 2 The Municipality | January 2019 Feature Here’s to You Jerry Deschane, Executive Director, League of Wisconsin Municipalities The League was recognized twice recently for outstanding What’s the common denominator with these two awards? You. work on important state legislative issues. I got to collect the Your voice. Your effort. Your actions speaking out for local plaques and give the speeches, but the ones who deserve the government and the citizens who depend upon a good road credit are you. Well done! system and a fair tax system. The League helped organize it, but it was your grassroots work that made “Just Fix it” and First the Transportation Development Association (TDA) “Dark Store” household words among Wisconsin politicians. of Wisconsin presented the League, along with the Wisconsin Towns and Counties Associations, with its annual Curt and I, on our own, are just two lobbyists in a big crowd Transportation Service Awards. These awards, which in the competing for the Legislature’s attention. But you are much past have gone to Governors and Transportation Secretaries, more than that. You’re the mayor of a Legislator’s home were given to us because of the huge success of the Just Fix It town. You’re the trustee or alderperson who knows first-hand campaign, the statewide Turnout for Transportation meetings, the needs of the community. You’re the clerk who knows and last spring’s Rough Roads Tour, all of which highlighted everyone in the village. You’re the public works director who the need to fix Wisconsin’s road system. has seen potholes up close, and the finance director who’s frustrated by your inability to find the money to fix those More recently, League lobbyist Curt Witynski and I were potholes. You are the voice of the citizens of Wisconsin who surprised (and gratified) to be recognized by the Wisconsin want quality communities and fair taxes. When you speak, Association of Assessing Officers (WAAO) for raising public lawmakers listen. awareness of the Dark-Store Loopholes issue. Cities and villages across Wisconsin passed dozens of resolutions, made Thanks for speaking. Congratulations. Now let’s finish the job hundreds of phone calls, and attended hours of legislative and make 2019 the year that your work comes to a successful hearings to convince the Wisconsin Legislature that the completion with passage of a sustainable transportation bill fairness of the property tax system is at risk. Your efforts have and legislation closing the two dark-store loopholes. resulted in a bipartisan consensus that this is a problem that needs to be addressed by the governor and Legislature. The League appreciates the support of the following Business Members: • AARP Wisconsin • River Valley Bank • American Transmission Co. • Stafford Rosenbaum LLP • Boardman & Clark LLP • WEA Trust • Ehlers Associates • Weld, Riley, S.C. • MSA Professional Services Inc. • Wisconsin Housing & Economic • Municipal Property Insurance Company Development Authority (WHEDA) • National Insurance Services of Wisconsin, Inc. For more information, contact Gail Sumi: [email protected] | (608) 267-4477 The Municipality | January 2019 3 Feature Split Party Control is Good for Municipalities – A Preview of the 2019-2020 Legislative Session Curt Witynski, Deputy Executive Director, League of Wisconsin Municipalities Last November, Wisconsin voters elected a Democratic governor while choosing to maintain GOP control of both houses of the Legislature. Shared party control of Wisconsin state government, which is usually good for municipalities, has returned after a 10-year absence. Typically, with a split Capitol less legislation gets passed, which means less opportunity for the Legislature to restrict or otherwise interfere with local powers. The ability to request a gubernatorial veto provides us with more leverage to block legislation preempting municipal powers than we have had the last eight years. On the other hand, shared revenue increases, creating new local revenue options, obtaining levy limit flexibility, and achieving other items on the League’s proactive agenda will remain difficult. Governor Evers and the Legislature may reach agreement on creating a long-term, sustainable funding solution to meet the needs of our state-local transportation system. Something the League strongly supports. This article describes the political lay of the land in the state Capitol and discusses municipal opportunities and challenges in the 2019-2020 session. Finally, the co-chairs of the Legislature’s powerful budget Republicans Remain Firmly in Control of Legislature writing committee, known as the Joint Committee on Finance, are Sen. Alberta Darling (R-River Hills) and Rep. John This session the Republicans continue to control a formidable Nygren (R-Marinette), the same as last session. Given GOP 63 seats in the Assembly to the Democrat’s 36. In the Senate, control of both houses, the make-up of the Joint Committee the Republicans hold a safe 19-14 majority. on Finance remains 12 Republicans to 4 Democrats. The leadership teams in both houses are similar to last The State Budget session. The Senate Majority Leader remains Scott Fitzgerald (R-Juneau). Assistant Majority Leader is Sen. Dan Feyen The Legislature’s primary focus during the first six months of (R-Fond du Lac) and Roger Roth (R-Appleton) continues as the session and perhaps longer will be enacting the 2019-2021 President of the Senate. Robin Vos (R-Rochester) continues biennial budget. Governor Evers will introduce his proposed as Speaker of the Assembly. Rep. Jim Steineke (R-Kaukauna) budget sometime in mid-February. According to a report on was reelected as Assembly Majority Leader. The one change of state finances released by the Department of Administration note on the Assembly GOP leadership team is that Rep. Mary in November, the state is projected to have a positive fund Felzkowski (R-Irma) was selected to replace Rep. Rob Brooks balance of $662.6 million at the end of the 2017-2019 (R-Saukville) as Assistant Majority Leader. biennium, which is June 30, 2019. Looking ahead to the 2019-21 biennium, state revenues are expected to grow an The minority leaders in both houses remain the same as last additional $1.6 billion.
Recommended publications
  • The Retail Apocalypse - Fact Or Fiction?

    The Retail Apocalypse - Fact Or Fiction?

    The Retail Apocalypse - Fact or Fiction? May 10, 2019 Panel Introductions • Moderator: • Manuel Farach, Member, McGlinchey Stafford • Panelists: • Sarah Lemke, Vice President, Project Development, New England Development • Matt Epstein, Director, Goulston & Storrs, P.C. Agenda • Current State of Retail • Is It Really an Apocalypse? • Strategies for the New Future of Retail • Conclusion and Q&A Current State of Retail- Store Closures Abound ▪ Over 12,000 stores closed in 2018 ▪ Over 5,800 stores have already announced closures planned for 2019, including: ▪ Payless- 2,500 stores ▪ Gymboree- 805 stores ▪ Family Dollar- 390 stores ▪ Shopko- 371 stores ▪ Gap- 230 stores ▪ Sears- 70 stores ▪ Victoria’s Secret- 53 stores ▪ Abercrombie & Fitch- 40 stores ▪ Other retailers closing: Aerosoles, American Apparel, BCBG, Bon-Ton, Children’s Place, CVS, Dollar Tree, Foot Locker, Guess, JC Penney, Limited, Macy’s, Michael Kors, Toys R Us, Victoria’s Secret, Wet Seal © New England Development 4 Current State of Retail - Store Closures Abound © New England Development In 2018, over 145 million square feet of retail closed 5 Current State of Retail - Bankruptcies Continue © New England Development 6 What’s Causing Widespread Closures and Bankruptcies? ▪ Retailers facing massive debt from private equity financings ▪ E-Commerce and the “Amazon Effect” ▪ “Over-Retailing”/Saturation of the Market ▪ Changing Consumer Demands ▪ Inability to Adapt © New England Development 7 E-Commerce - Part of the Problem E-commerce continues to gain steam- growing 15% in 2018,
  • State Superintendent's Academic Standards Review Council

    State Superintendent's Academic Standards Review Council

    State Superintendent’s Academic Standards Review Council • Barbara Bales, Director of • Senator Chris Larson, D-Milwaukee - Strategic Initiatives and Wisconsin State Senate Educational Innovation - University of Wisconsin System • Heather Mielke, Math Teacher - Burlington High School • Mariana Castro, Deputy Director - Wisconsin Center for Education • Carletta M. Noland, Regional Research, University of Superintendent - Milwaukee Public Wisconsin-Madison Schools • Representative Dave Considine, D- • Desiree Pointer Mace, Professor - Baraboo - Wisconsin State Assembly Alverno College • Dr. Rose Coppins, Former Wisconsin • Chris Reader, Director of Health and School Administrator - MMABSE Human Resources – Wisconsin Representative Manufacturers and Commerce • Senator Alberta Darling, R-River • Lisa Sanderfoot, Computer and Hills – Wisconsin State Senate Information Science Teacher - Valley View Elementary School, • Jill Gaskell, Member - Pecatonica Ashwaubenon School Board • Chrystal Seeley-Schreck, • Barbara Gransee, Director of Pupil Associate Vice-President - Services and Special Education - Office of Instructional Services, Adams-Friendship School District Wisconsin Technical College System • Anne Heck, Principal - Lake Geneva Middle School • Representative Jeremy Thiesfeldt, R-Fond du Lac - • Chris Her-Xiong, Executive Director - Wisconsin State Assembly Hmong American Peace Academy • Amy Vesperman, • Jenni Hofschulte, Parent - Milwaukee Superintendent and Director of Public Schools Curriculum and Instruction - Plum City School District • Brian Jackson, President - Wisconsin Indian Education Association John Johnson, Ex Officio Chair, Director - Literacy and Mathematics, • Dean Kaminski, Principal - Prairie Department of Public Instruction Elementary School - Waunakee Community School District • Howard Kruschke, President - St. Croix Central School Board .
  • Iowa Minnesota Illinois Michigan

    Iowa Minnesota Illinois Michigan

    Minnesota L a k e S u p e r i o r Bayfield STATE OF WISCONSIN Superior ACT 43 - SENATE DISTRICTS Washburn Ashland Bayfield Hurley Montreal Douglas 25 Mellen Michigan Ashland Iron Hayward Vilas Park Falls Burnett Washburn Sawyer Eagle River Spooner Florence Niagara Shell Lake Price Oneida Rhinelander Forest Crandon Cumberland Polk Rice Lake Rusk Tomahawk Marinette St. Croix Falls Barron Ladysmith Barron 12 10 Amery Chetek Lincoln Langlade Taylor Merrill Cornell New Richmond 29 Medford Antigo Glenwood Bloomer Marinette City Peshtigo St. Croix Chippewa Oconto Hudson Dunn Menominee Door Stanley Thorp Wausau Owen Abbotsford Chippewa Falls Schofield Oconto Menomonie Colby Gillett Oconto Falls River Falls Marathon Eau Claire Sturgeon Bay Altoona Prescott 23 Mosinee 30 Greenwood Shawano Shawano Pierce Eau Claire Clark Loyal Augusta Marion Marshfield Algoma Durand Pepin Clintonville Kewaunee Mondovi Osseo Neillsville 1 Stevens Point 2 Seymour Green Bay 31 Kewaunee Wood Portage Waupaca De PereBrown Pittsville New London Outagamie Whitehall Wisconsin Rapids Alma Independence Buffalo Waupaca 24 Weyauwega Nekoosa Blair Black River Falls Appleton Kaukauna Arcadia Jackson Buffalo City Menasha Two Rivers Trempealeau 19 o Brillion g Neenah Fountain City a Manitowoc b Manitowoc Galesville Waushara Wautoma e Calumet Milwaukee CTohieunsvnillety Inset Omro n Chilton Oshkosh n Adams n i New La Crosse Tomah Berlin Holstein Mequon W a Sparta Winnebago Monroe Kiel 9 e Onalaska Bayside New Lisbon k g Princeton Green Lake Brown Deer Ripon a River Hills i 18 L La
  • The Retail Apocalypse - Debunking the Myth

    The Retail Apocalypse - Debunking the Myth

    Public Square | CNU Journal September 2019 The Congress for the New Urbanism Page 1 The Retail Apocalypse - Debunking the Myth Introduction – The “Retail Apocalypse” is a This article also touches on some emerging retail concept being actively promoted through media trends, including retrofitting vacant mall anchors headlines, and largely based on recent closures and leveraging the “Halo Effect” of Omni-channel among national chain stores across the nation. marketing to optimize retail sales. However, it is only a myth that can be easily debunked with real data. Increasing Number of Retail Establishments – The hypothetical Retail Apocalypse should be It is important to debunk the myth and change supported by a decline in the total retail the dialogue about the future of retail establishments – but nothing could be farther nationwide, in our downtowns, and all urban from the truth. In fact, the United States had over settings. By challenging mainstream media and 1 million retail establishments in 2018 – and more shifting the conversation, we hope to instill new than the prior year 2017. More specifically, the faith and encouragement for urban and town Bureau of Labor Statistics (BLS) reported planners, developers, downtown merchants, and 1,044,509 establishments for 2018, for a net gain of main street managers. +2,413 establishments since 2017 (1,042,096). The 2018 figure also represents a net gain of over This article explores real data and demonstrates +20,800 establishments since the trough in 2011. that the total number of retail establishments and aggregate retail sales are actually increasing; A timeline of total retail establishments since 2001 new chain stores and restaurant openings are is shown in chart below.
  • Wisconsin Transportation Fund Amendment (2014) Case Study

    Wisconsin Transportation Fund Amendment (2014) Case Study

    Wisconsin Transportation Fund Amendment (2014) Case Study Title of Ballot Measure: Question 1: Creation of a Transportation Fund Type: Senate Joint Resolution 23/Assembly Joint Resolution 2 Election Cycle: November 4, 2014 Status of Amendment: Passed NOV 4 2014 ELECTION RESULTS Wisconsin Question 1 FOR 80% AGAINST 20% Summary of Legislation The Wisconsin Transportation Fund Amendment was put on the November 4, 2014 ballot to ensure that revenue generated from transportation-related fees and taxes would be protected from diversion to non-transportation programs outside of the Wisconsin Department of Transportation’s jurisdiction. Wisconsin requires statewide ballot measures be approved by both houses in two consecutive Legislative sessions in order to be put before voters. A constitutionally-protected transportation fund was first presented as Senate Joint Resolution 23 by 36 bipartisan sponsors, and was voted upon on by both houses on May 17, 2011. It passed the Senate May 17, 2011 by a vote of 26-6, and was subsequently approved the Assembly the same day with a vote of 82-11. Senate Votes Noes: Assembly Votes May 17, 2011 11 May 17, 2011 (12%) Noes: 6 (19%) Ayes: 26 Ayes: 82 (81%) (88%) The proposed amendment was next presented as Assembly Joint Resolution 23 in 2013 by 41 sponsors. It was voted upon by the Assembly on February 14, 2013, passing 82-13 before being sent to the Senate, where it was passed on February 20 25-8. Assembly Votes Senate Votes February 14, 2013 February 20, 2013 Noes: 13 (14%) Noes: 8 (24%) Ayes: 25 Ayes: 82 (76%) (86%) For a breakdown of votes on Senate Joint Resolution 23 (2011) and Assembly Joint Resolution 2 (2013), go to page 9.
  • Resilient Forms of Shopping Centers Amid the Rise of Online Retailing: Towards the Urban Experience

    Resilient Forms of Shopping Centers Amid the Rise of Online Retailing: Towards the Urban Experience

    sustainability Article Resilient Forms of Shopping Centers Amid the Rise of Online Retailing: Towards the Urban Experience Fujie Rao Melbourne School of Design, University of Melbourne, Melbourne 3010, Australia; [email protected] Received: 13 June 2019; Accepted: 17 July 2019; Published: 24 July 2019 Abstract: The rapid expansion of online retailing has long raised the concern that shops and shopping centers (evolved or planned agglomerations of shops) may be abandoned and thus lead to a depletion of urbanity. Contesting this scenario, I employ the concept of ‘retail resilience’ to explore the ways in which different material forms of shopping may persist as online retailing proliferates. Through interviews with planning and development professionals in Edmonton (Canada), Melbourne (Australia), Portland (Oregon), and Wuhan (China); field/virtual observations in a wider range of cities; and a morphological analysis of key shopping centers, I find that brick-and-mortar retail space is not going away; rather, it is being increasingly developed into various shopping spaces geared toward the urban experience (a combination of density, mixed uses, and walkability) and may thus be adapted to online retailing. While not all emerging forms of shopping may persist, these diverse changes, experiments, and adaptations of shops and shopping centers can be considered a form of resilience. However, many emerging shopping centers pose a threat to urban public life. Keywords: retail resilience; online retailing; shopping center; urban experience; urbanity 1. Introduction Shopping has been at the heart of urbanity since the earliest cities developed as sites of exchange. One sees and touches the product, perhaps smells and tastes it, bargains with the trader and experiences the larger social, political and cultural life that comes with traditional marketplaces.
  • August 1, 2011 Wisconsin Supreme Court Decision Increases High

    August 1, 2011 Wisconsin Supreme Court Decision Increases High

    PROFESSIONAL DAIRY PRODUCERS OF WISCONSIN’S August 1, 2011 Wisconsin Supreme Court Decision Increases High Capacity Well Review By Jordan Lamb -- DeWitt Ross & Stevens The Wisconsin Supreme Court just issued a decision that could affect the ability to drill a high capacity well in Wisconsin. In Lake Beulah Management District v. DNR, the Supreme Court unanimously held that, despite the restrictions in Wisconsin’s high capacity well statute, the DNR has a duty to “consider the environmental impact of [any] proposed high capacity well when presented with sufficient concrete, scientific evidence of potential harm to waters of the state.” Prior to this decision, Wisconsin statutes only required DNR to conduct an environmental review of: (1) a high capacity well that is located in a groundwater protection area; (2) a high capacity well with a water loss of more than 95 percent of the amount of water withdrawn; or (3) a high capacity well that may have a significant environmental impact on a spring. Wis. Stat. § 281.34(4). For all other high capacity wells, approvals and recordkeeping were required, but the statute does not impose a specific requirement for an environmental review for every well. The Lake Beulah decision may affect a farmer’s ability to get an approval for a high capacity well and also may increase the potential for citizen groups to challenge the approval of wells. The decision also brings into question the effect that the high capacity well statute has with regard to providing limits on DNR’s duty and authority. The full effects of the Lake Beulah decision are not yet understood.
  • Perspectives on Retail and Consumer Goods

    Perspectives on Retail and Consumer Goods

    Perspectives on retail and consumer goods Number 7, January 2019 Perspectives on retail and Editor McKinsey Practice consumer goods is written Monica Toriello Publications by experts and practitioners in McKinsey & Company’s Contributing Editors Editor in Chief Retail and Consumer Goods Susan Gurewitsch, Christian Lucia Rahilly practices, along with other Johnson, Barr Seitz McKinsey colleagues. Executive Editors Art Direction and Design Michael T. Borruso, To send comments or Leff Communications Allan Gold, Bill Javetski, request copies, email us: Mark Staples Consumer_Perspectives Data Visualization @McKinsey.com Richard Johnson, Copyright © 2019 McKinsey & Jonathon Rivait Company. All rights reserved. Editorial Board Peter Breuer, Tracy Francis, Editorial Production This publication is not Jan Henrich, Greg Kelly, Sajal Elizabeth Brown, Roger intended to be used as Kohli, Jörn Küpper, Clarisse Draper, Gwyn Herbein, the basis for trading in the Magnin, Paul McInerney, Pamela Norton, Katya shares of any company or Tobias Wachinger Petriwsky, Charmaine Rice, for undertaking any other John C. Sanchez, Dana complex or significant Senior Content Directors Sand, Katie Turner, Sneha financial transaction without Greg Kelly, Tobias Wachinger Vats, Pooja Yadav, Belinda Yu consulting appropriate professional advisers. Project and Content Managing Editors Managers Heather Byer, Venetia No part of this publication Verena Dellago, Shruti Lal Simcock may be copied or redistributed in any form Cover Photography without the prior written © Rawpixel/Getty Images consent of McKinsey & Company. Table of contents 2 Foreword by Greg Kelly 4 12 22 26 Winning in an era of A new value-creation Agility@Scale: Capturing ‘Fast action’ in fast food: unprecedented disruption: model for consumer goods growth in the US consumer- McDonald’s CFO on why the A perspective on US retail The industry’s historical goods sector company is growing again In light of the large-scale value-creation model To compete more effectively Kevin Ozan became CFO of forces disrupting the US retail is faltering.
  • Has the Retail Apocalypse Hit the DC Area?

    Has the Retail Apocalypse Hit the DC Area?

    POLICY BRIEF Has the Retail Apocalypse Hit the DC Area? Leah Brooks, Urbashee Paul and Rachel Shank APRIL 2018 POLICY BRIEF APRIL 2018 | LEAH BROOKS, URBASHEE PAUL AND RACHEL SHANK1 In 1977, the White Flint Mall opened to great acclaim as Maryland’s premier mall, complete with glass elevators, glamorous anchor stores, and an exciting eatery. Now, more than four decades later, White Flint Mall is situated in a sea of empty parking lots. Except for anchor tenant Lord and Taylor, with which the mall owner is in protracted litigation, the mall sits empty. About a decade before White Flint launched, Northern Virginia’s Tysons Corner Center opened, also to acclaim. Tyson’s Corner has seen continued success,2 welcoming Apple’s flagship store in 2001,3 and Spanx’s first brick and mortar store in 2012.4 The promised increase in walkability ushered in by the Silver Line expansion has heralded opportunity for new residential and commercial development.5 To what extent is this divergence due to e-commerce? The Rise of E-commerce Indeed, there is substantial evidence that brick-and-mortar retail is suffering. CNN Money10 reports that 2017 marked E-commerce dates to 1994, when the New York Times the highest number of retail store closure announcements in reported that Philadelphia’s Phil Brandenberger used his history. Within the past year, once-prominent malls in computer to purchase a Sting album. In the following year, New Jersey and Pennsylvania have closed almost 200 Amazon sold its first book, and Pierre Omidyar founded stores. And the wave seems unlikely to be over: Toys R Us Ebay.6 has recently declared bankruptcy, while long-time anchor tenants Sears, Kmart, J.C.
  • PASI News Winter 2019

    PASI News Winter 2019

    Volume 43 - Number 4 Winter 2019 Professional Advisory Services, Inc. 2770 Indian River Blvd. – Suite 204 • Vero Beach, FL 32960 (800) 847-7274 • (772) 778-0552 • fax (772) 770-2979 Market Update – An Extraordinary Decade by David A. Jaffe, M.D. In his book Thank You for Being Late, author Thomas Friedman poses detailed and compelling arguments suggesting that our planet is experiencing one of the greatest inflection points in world history – catalyzed by the accelerating impact of technology, globalization, and climate change. It is a well-documented and compelling read. In the shadow of this postulate, the “twenty-tens” were a pretty good but hardly extraordinary decade in the financial markets. Consider: the 256% total return of the S&P 500, translating into an average annual return of 13.5%, makes it only the fourth best decade since the 1930s (yawn). Of course, one could be forgiven for exaggerating the magnitude of the decade’s progress when taken in the context of recent history, specifically following on the heels of the “twenty-oughts”. Dubbed by some the “lost decade”, investors holding the S&P 500 from 2000-2010 experienced a decline of 0.86%, even after reinvesting cash dividends. The lost decade earns the dubious distinction of being the worst 10-year investment period since the 1930s, thanks to the Great Recession and stock market plunge of 2008-2009. The dreary market experience of that era set the stage for the healthy recovery that we have all enjoyed over the last ten years. Governments around the world pumped trillions into projects which spurred economic growth, while central banks led by the U.S.
  • How Digital Transformation Is Reshaping the Global Fashion Industry

    How Digital Transformation Is Reshaping the Global Fashion Industry

    Trending this season: How Digital Transformation Is Reshaping the Global Fashion Industry www.commercetools.com Executive Summary When it comes to online revenue share, the global fashion business takes the pole position. The growth of mobile commerce, as well as social media, translate both into new revenue streams but also into challenges which have to be met. This white paper talks about how well-known brands and retailers tackle things like brand experience, assortment, and scalability and how they leverage cloud infrastructure and in-house technical know-how to adapt to these changing conditions. Introduction According to McKinsey’s 2018 State of Fashion report1, “The total sales of the traditional fashion sector have grown by more than 20 percent over the last three years”. Every year, the fashion industry, ranging from retailers to luxury brands, drives a significant profit to the global economy. It is one of the biggest, yet most challenging industries impacted by hundreds of factors, including economic uncertainties as well as digital transformation. Digital transformation in the fashion industry brings a lot to the table, but if ignored, it can unravel everything else. In response to this digital wave, many fashion brands are now under pressure to innovate while at the same time being cost-conscious. Brands have started to improve their speed to market and to innovate and automate their core product design, manufacturing, and overall supply chain process. The need to embrace digital transformation is a need of time for them. Why? Because consumers’ expectations are now at the highest level. They are no longer content with the simple purchase transaction; they want to have an experience attached to it, and the credit goes to digital technologies they are exposed to.
  • Bankruptcy Trends and Developments in the Retail Industry George H

    Bankruptcy Trends and Developments in the Retail Industry George H

    Domestic and International Bankruptcy Thought Leadership Bankruptcy Trends and Developments in the Retail Industry George H. Haramaras The retail industry is dynamic and changes quickly. Although dramatic headlines referring to retailers in bankruptcy (e.g., “retail apocalypse”) may be overstated, the retail industry is at an important stage in its history. Retail bankruptcies are frequent and they experienced an increase in volume in 2018. Big changes are occurring in the retail industry. Accordingly, this discussion examines bankruptcy in the context of the retail industry. This discussion broadly examines the retail industry. This discussion identifies current developments and important indicators associated with the retail industry. This discussion summarizes important operational attributes of retail operators. This discussion examines how the unique attributes of retail affect industry debtors in bankruptcy. Finally, this discussion describes several specific areas of the bankruptcy process relevant to retail debtors and identifies trends in retail bankruptcies. NTRODUCTION “retail apocalypse” can be misleading when describ- I ing the recent state of retail industry bankruptcies, The retail industry is dynamic. It is highly vola- 2018 did represent an uptick in the number of tile, currently undergoing significant changes, and retailers filing for bankruptcy. It is an important consists of companies with visible brands designed time for retailers. to capture the attention of consumers. As a result, when a large retailer files for bankruptcy, it can This discussion develops a clear picture of the garner disproportionate attention and grab head- retail industry today, and then examines the trends lines. For example, while Sears Holding Corporation and developments of retail companies in the context (“Sears”) was debatably the most familiar bank- of bankruptcy.