Biz Buzz

In a survey released today, close to 20 percent of all homeowners or 30 percent of those holding mortgages had to sell their home for less than what they owe. The study was published by the Pew Research Center for the People & the Press.

According to the report, roughly six-in ten (61 percent) of those who say they are upside down on their mortgage are white, 12 percent are black and 18 percent are Hispanic. By comparison, 84 percent of mortgage holders who say their home would sell for at least the value of their mortgage are white, 6 percent were black and 6 percent were Hispanic.

The survey also found that those who feel upside down on their mortgages report more financial strain that those who are not.

A copy of the report is available at: http://pewresearch.org/pubs/1128/homeowners-mortgage-underwater

As the retail environment changes during trying economic times, the development time line for retail projects like Rayzor Ranch, will need to change as well, said Mayor Mark Burroughs.
The planned retail shops at Rayzor Ranch property that once had commercial properties in line to house the center aren't filling up as anticipated, he said.
"We can't continue with the original plan that was based on speed," Burroughs said. "We are trying to preserve, protect and ensure that vision of the plan stays in place at a slower pace."
The plan was a sustainable town-like environment within a town is still projected to bring residential and commercial property together and the city should try and help protect that vision, he said.
"The whole economic foundation of the country has shifted, it's not practical to stick to time lines," Burroughs said. "There is no rulebook; we need to make the rules as we go."
One of those rules, having the development firm ask to rezone space that was once considered retail to other options like medical is something the city should lend a hand on, he said.
"The plan was extremely detailed and at the moment they are forced to come back every time [to change zoning]," Burroughs said. "We have to be able to make accommodations so it can proceed."

The WBODC's March luncheon topic will deal with how companies can maximize their Internet presence. Speaker Bill Hartzer, founder of the Dallas/Fort Worth Search Engine Marketing Association will present, "Promoting Your Business on the Internet: Search Engine Optimization and Social Media Marketing" at the next luncheon on Tuesday, March 3.

Registration and networking will begin at 11:30, with a luncheon and speaker to follow, 12 noon-1:00 p.m. Register online at www.wbodc.org or send an e-mail to rsvp@wbodc.org by Thursday, February 26, 2009. With timely reservations, the luncheon and program cost is $15 for WBODC members and $20 for guests. After February 26th, the cost is $20 for WBODC members and $25 for guests.

The National Retail Federation (NRF) reported today January retail sales (which exclude automobiles, gas stations, and restaurants) for January increased 0.5 percent.

"While 2009 got off to a surprising start, it's going to be difficult for retailers to maintain this momentum," said NRF Chief Economist Rosalind Wells in the press release. "We expect the first half of the year to present challenges while giving way to sustained growth in the fourth quarter."

Also in its release today, the U.S. Commerce Department reported retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 1.0 percent seasonally adjusted from December but decreased 9.0 percent unadjusted year-over-year.

According to the NFR release, shoppers are just focusing on purchasing necessities.

For the second year, Golden Triangle Mall will support Girl Scouts Cookie Sales in its effort to raise funds that support the program. Beginning Friday, February 27 to Sunday, March 8, a local Girl Scout Troop will be in the Sears wing selling their cookies.

"Golden Triangle Mall is proud to partner with Girl Scout Troops to help support them in their cause," said Golden Triangle Mall General Manager Matt Ludemann in a press release. "We continue our ongoing support of any local charitable organizations focusing on any variety of activities aimed at giving back to the local community."

Proceeds from the sale will go directly to each local Girl Scout council's cookie activities fund.

This year is off to a great start for DATCU. The credit union was recently named the Second Best Place to Work in Texas by the Society of Human Resource Management (SHRM), the Texas Association of Business (TAB), and Texas Monthly magazine. DATCU also continues to receive the 5-Star Bauer Financial, Inc. rating and the Superior rating from the IDC.

The credit union has been in the spotlight for being a great employer for several years. In 2004, the Dallas Business Journal recognized DATCU as the No. 1 Best Place to Work in the Dallas-Ft. Worth area. The credit union set it sights on the state competition, which began in 2006. This is the third year DATCU has earned recognition on the list, inching closer to the No. 1 position each year. In 2006, DATCU placed No. 14. The following year, we took a break from the contest, but earned No. 4 Best Place to Work in 2008.

To determine the rankings, SHRM and TAB review both the company culture and employee responses. Companies first submit an extensive over-view of company benefits, practices and culture. SHRM and TAB sort through the information, and select companies to continue in the competition. Employees then have the opportunity to rate their company's culture, including leadership, environment, training and benefits, in an anonymous survey. Out of a possible 100 percent, DATCU employees rated their over-all satisfaction level at 98 percent.

Employees praised the family environment in the survey.

"I have worked at many places where there was talk about being family," stated one employee response. "This place lives it."

Last summer, the board of directors went above and beyond, approving an across-the-board increase in addition to the normal 4-5 percent annual merit increases, according to a news release.

"While other companies were laying off people, DATCU offered us a 3 percent increase in pay to off-set the high prices of gas," noted one employee. "Way to go DATCU!"

The owners of 2nd Street on the Square are busy restocking their merchandise after shoppers packed their shop over the weekend, said Jennifer Boncyk, a co-owner of the store.
"It went great. We had a great showing," Boncyk said.
Live music attracted customers off the street and the store sold several CDs of local music, as well as boots, men's shirts and accessories, she said.
In particular, men's vintage pearl-snap shirts were popular because they are one-of-a-kind, she said.
"The sizing [on those shirts] are so random, when you find one in your size you like, you buy it," Boncyk said.