Tag Archives: September – October 2010

Kirk McClure

McCarthy Building Companies Hires Kirk McClure As Director Of Business Development

 

McCarthy Building Companies recently hired Kirk McClure as Director of Business Development for the Southwest division. His primary focus will be on municipal, higher education and commercial construction projects.

In this position, McClure will play a key role, providing more than a decade of industry expertise with a diverse, well-rounded background in project management, commercial development and planning, and strategic planning.

He has been engaged in a broad range of business development and project management positions throughout his career, most recently as Vice President of Business Expansion for the Arizona Commerce Authority (ACA), the state’s leading economic development organization.

McClure, a LEED accredited professional, has a critical understanding of the commercial real estate industry. Prior to his position at the ACA, he worked in land planning,project management and business development for Langdon Wilson, Atwell-Hicks, Graef and The Brooks Companies.

“Kirk has a passion for the commercial real estate industry and is extremely active within business circles here in Arizona,” said Bo Calbert, president of McCarthy Southwest. “The relationships he’s built through his previous positions and his volunteer activities will serve him well in his new role at McCarthy.”

McClure serves on the board of directors for the Arizona Association of Economic Development (AAED), and is the chair for their annual golf tournament. He is also a member of National Association of Industrial and Office Properties (NAIOP), SouthwestChapter of American Association of Airport Executives (SWAAAE) and has been an active member of CoreNet Global, Valley Partnership, the U.S. Green Building Council (USGBC), the American Planning Association (APA), and the Urban Land Institute (ULI).

He is also the founder and organizer of the monthly A/E/C Golf Invitational at Grayhawk Golf Club,which includes a league of professionals that work and support the development industry. He is also a USA Hockey-Certified youth hockey coach and has been coaching for more than 13 years, most recently with Desert Youth Hockey Association (DYHA).

He earned his MBA from the W. P. Carey School of Business at Arizona State University (ASU) and also holds a bachelor’s degree in Urban Planning and Design, also from ASU.

 

woman sitting on a red chair on stage - AZ Business Magazine Sep/Oct 2010

Q&A With Laura Scheller, President Of Arizona Sunbelt Chapter MPI

Laura Scheller, CMP
President of the Arizona Sunbelt Chapter of MPI
President and CEO, Solomonte Hospitality

How has MPI responded to the economic downturn?
It has been a difficult year for the hospitality industry. Not only have we had to overcome the poor economy and negative media, but here in Arizona we also added controversial politics. The MPI Foundation is focusing on research that provides hard facts about the return on meetings. For instance, for every dollar spent in business travel, companies realize $12.50 in incremental revenue.

MPI as an organization is working to educate local and national business, politicians and media about the positive impact strategic meeting management makes on the economy, not just statewide, but nationally. Obviously the whole issue of SB 1070 is extremely frustrating. Regardless of where you stand on the issue, boycotting meetings is not the answer. This is affecting 300,000 employees whose families’ lives are dependent on our industry jobs — many of whom are immigrants whose only goal is to work hard and provide excellent service. … Certainly, we as a chapter are encouraged to hear that the governor is looking into creating an ad campaign in support of travel to the state.

What are your members experiencing?

Our membership is down. The hotels and resorts are cutting staff in response to lower operating budgets. Meeting planners are being laid off as companies minimize the number, size and scope of their meetings and events. On the positive side, the relationships created by our fellow MPI members are more critical than ever in securing business and jobs. The chapter’s Career Connections is an active job bank completely free to our members.

Is MPI working with other organizations?
One of our goals as a chapter this year is to bring an elevated level to our membership. We hope to work more closely with the Fiesta Bowl Committee and the Arizona Tourism Alliance to create more opportunities for our local members. We have some outstanding talent and expertise, yet often, when large events such as the Super Bowl come to town, outside companies are brought in rather than utilizing local products and services.

How is MPI helping its members?

One of the programs we are very proud of is the Global Community Challenge. … The challenge, developed from the expressed needs of chapter members, encourages members to use their MPI connections to supplement their current business. Through the program, over 286 business-to-business meetings took place, 87 lead referrals were produced and more than $1.3 million in sales was credited to the business relationships developed.

What trends are you seeing?
While some properties are starting to increase rates, others are still focusing on occupancy. Programs are being streamlined. Meeting planners are more accountable to the C-suite for budgets and measured results. Also, while room rates remain somewhat level, food and beverage pricing continues to rise. Of particular note are the gratuity fees that are as high as 25 percent at some resorts. That can make a significant impact on a budget.

Any predictions?
What I see is that there has been a pent-up demand for meetings, and thus things are starting to happen again in the industry. However, I also believe the economy will remain stagnant for the next couple of years. I recommend keeping an organization’s booking window as short as possible.

Arizona Business Magazine Sept/Oct 2010

Meeting Planners Are Learning To Be Advocates - AZ Business Magazine Sep/Oct 2010

In Troubled Times, Meeting Planners Are Learning To Be Advocates For Their Industry

Politics, economic setbacks and disasters of all kinds pose constant threats to the meetings industry. But increasingly, MPI, its members and others associated with meeting planning, are taking steps to be advocates for their industry before problems arise. Christine Duffy, president and CEO of Maritz Travel Company in St. Louis, wants her peers to “pay attention to what’s happening politically in Washington, as well as the effects of current events.”

Disasters such as an erupting volcano in Iceland or the massive oil spill in the Gulf of Mexico affect travel and have a trickle-down effect on every area of the industry.

“Now more than ever, there is a heightened sense of awareness of how connected we are in the world,” Duffy says.

An example of that are the boycotts against Arizona resulting from the state’s tough new immigration law, SB 1070.

Roger Rickard has been an MPI member for almost 20 years and is a partner in the California-based consulting firm REvent. He has dedicated his career to advocacy since Arizona’s Martin Luther King Jr. Holiday controversy in the early 1990s led to boycotts similar to today’s SB 1070 backlash.

While Rickard is clear that he does not represent MPI, he does believe that “we need to do more as an industry … if we don’t, we’ll become extinct.”

To that end, he has created Voices in Advocacy, which defines a strategy of how meeting and travel planners can advocate for themselves, including promoting and raising awareness for the industry using various tactics. In particular, the strategy details the significance of educating elected officials on the importance of the tourism industry, as well as the value of meetings.

“I aim to bring together members of all segments of this industry and help them set up meetings with officials to educate them,” Rickard says. “We want them to understand who we are and our value, and answer any questions they may have about what we do.”

Duffy adds that after 2008’s corporate meetings backlash, the US Travel Association became instrumental in advocating for the industry. The group released an ad pointing out the number of jobs lost in the industry (an estimated 1 million) due to the backlash. The association now serves as a powerful lobbyist on Capitol Hill.

Rickard notes that it’s important to get out the hard facts about the positive benefits of the meetings industry. He points to an Oxford Economics study that found that for every dollar spent on business travel, the return to a company’s bottom line is $12.50.

Theresa Davis, director of strategic communications with MPI national, adds that the organization’s research-based initiative, Meetings Deliver, “provides a comprehensive analysis of independent research conducted during the past two years on the value of meetings.”

She says it is critical for MPI members to “commit to speaking the ‘language of business’ by providing solid business arguments that speak to strategic meetings management from procurement and programming to measuring ROI, and being compliant with corporate CSR policies.”

Debbie Johnson, CEO of the Arizona Hotel & Lodging Association, says many controversies surrounding the meetings industry have been blown out of proportion. It’s her challenge, she says, to “change people’s minds by providing facts and getting correct information out there.”

Johnson notes that additional marketing, public relations and direct communication efforts can provide event and meeting planners with talking points they can use to inform their clients about everything Arizona has to offer.

“We need to remind people about the benefits of the state and the reasons to visit,” she adds.

Thanks to MPI, Arizona’s meeting planners don’t have to fight this fight alone.

“When you bring the collective know-how and buying power of 23,000 members from more than 80 countries around the world, affiliation with a leading organization of MPI’s breadth and depth often helps drive our collective point home,” Davis says.

Arizona Business Magazine Sep/Oct 2010

people gambling - AZ Business Magazine Sep/Oct 2010

New Resorts Are Sprouting In The Valley Despite The Shaky Economy

Arizona touts dozens of breathtaking resorts with countless amenities, but there’s still room for more. The Wild Horse Pass Hotel & Casino in Chandler opened its doors in October 2009, and Talking Stick Resort in Scottsdale opened this past April. What makes the opening of these two new resorts all the more remarkable is that they happened during the worst economic downturn since the Great Depression.

Of course no one plans to open a hotel in a tough economy, but who could have predicted this level of devastation a few years back? However, Harold Baugus, CEO of Gila River Gaming Enterprises, the driving force behind the Wild Horse Pass Hotel & Casino, is not one to be easily deterred.

“We determined long ago that we needed a better, more sophisticated and more advanced product offering more entertainment value and better food and beverage for our clients,” he says. “In 2005, we started the process, and at that time the economy was on the upswing … but it doesn’t drive what we do. We wanted to build this product for the future of the community. The economy didn’t really play a factor.”

Steven Horowitz, director of sales for Talking Stick Resort, says the venture has proved successful so far, even in this economy.

“Hospitality demand was at its lowest during the majority of our building phase,” he says. “We were due to open when the economy would hopefully begin the cyclical upswing. That has been the case.”

Developed by the Salt River Pima-Maricopa Indian Community, Talking Stick encompasses a 240,000-square-foot casino in a 15-story tower that houses almost 500 rooms.

Despite early encouraging signs, Horowitz does think people are continuing to be very careful about how they spend their money.

“While we feel like Talking Stick Resort is opening as the economy is beginning to rebound, some of the initial challenges during recovery would be the lack of demand for resorts, and the overall economic downturn in gaming,” he says. “For obvious reasons, people have been very careful about their discretionary income, and entertainment, until recently, hasn’t been top priority.”

Baugus says his property is competing for all discretionary dollars, not just those targeted to other hotel properties.

“We have created an overall entertainment experience for those with complete discretionary income,” he says. “We are not necessarily concerned with other facilities or casinos, but rather if people are going to take those dollars to a ballpark or the movies.”

These properties offer guests a laundry list of entertainment and luxury options. Besides gaming and lounges, Talking Stick has its signature restaurant Orange Sky, multiple pools, and entertainment venues.

“We are truly an all-encompassing entertainment destination. A guest literally does not have to leave the property,” Horowitz says.

Baugus also is proud of the options and amenities available at Wild Horse Pass Hotel & Casino. The 10-story property has 242 hotel rooms with a 100,000-square-foot casino. It also boasts a range of dining options, including the area’s only Shula’s Steak House; a 1,400-seat entertainment venue; the AiRIA nightclub; and pool parties.

“We’ve tried to offer something for every demographic,” he adds.

The two resorts also offer plenty of meeting space for corporate or organizational gatherings. Talking Stick has 100,000 square feet of indoor/outdoor meeting and banquet space; Wild Horse Pass Hotel & Casino has about 12,000 square feet of meeting space.

Along with providing world-class amenities and entertainment, the actual construction of these facilities has given the local economy a much needed boost. The opening of Wild Horse Pass Hotel & Casino added about 500 jobs. During construction, 1,000 workers a day were employed to complete the facility. Talking Stick Resort added 600 jobs to the economy when it opened, and employed hundreds of additional workers during its construction phases, as well.

Both Baugus and Horowitz are pleased with the resorts’ initial numbers and neither is letting the summer heat slow down that momentum. Talking Stick Resort offers regular gaming promotions and a concert series. Wild Horse Pass Hotel & Casino has kicked off a comedy series for the summer, pool parties and golf specials.

The Valley’s resorts are often ideal places for staycations during the summer, and both properties appear to be generating interest from the locals.
“There are so many facets of Talking Stick Resort that you just can’t see or get anywhere else, and that naturally sparks interest from folks both locally and those who are out of town,” Horowitz says.

Baugus adds: “We have had a tremendously positive response and have already seen repeat business. People were pleasantly surprised with the opening. They were not expecting this level of quality.”

    If You Go:
    Wild Horse Pass Hotel & Casino
    5040 Wild Horse Pass Blvd., Chandler
    800-946-4452



    Talking Stick Resort
    9800 E. Indian Bend Road, Scottsdale
    480-850-7777

Arizona Business Magazine Sept/Oct 2010

David Rosenbaum - AZ Business Magazine Sep/Oct 2010

With 35 Years In The Resort Industry, David G. Rosenbaum And MPI Are Perfect Fit

David G. Rosenbaum, CHME
Director of Sales and Marketing
Fiesta Resort Conference Center
www.fiestainnresortcc.com

When David Rosenbaum first joined the Arizona Sunbelt Chapter of MPI 10 years ago, he was looking to take advantage of the group’s business and networking opportunities, and gain exposure to various meeting planners around the state.

As he became more involved in MPI, his career also jumped, and today, Rosenbaum is director of sales and marketing at the Fiesta Resort Conference Center in Tempe.

Rosenbaum grew up in the resort industry. He started 35 years ago in operations, working behind the front desk and parking cars. He was then given the opportunity to work a different angle of the business.

“I came out of operations and I thought I’d be in sales for two or three years, and then I’d get back into operations,” says Rosenbaum, who adds he has been in sales for 25 years.

Although he is not currently on any local MPI committees, Rosenbaum has participated in the student relations and programs committee, and has helped with planning various galas and events the chapter hosts. He remains involved with MPI by supporting the many people on his sales team who also are members of the chapter. Rosenbaum makes sure his employees get the time they need to become active members of MPI.

He says MPI is facing several challenges because of the down economy, namely a drop in membership. That, he says, is preventing the local chapter from meeting its full potential.

“The people that are supporting the membership are stretched thin, and are not as productive as they otherwise could be,” Rosenbaum says.

He says the solution to keep membership increasing is to provide more value to AzMPI.

“The more members we have, the more support, the more talent, the more creative ideas and the more successful our chapter will be,” Rosenbaum says.

Although many people join MPI for the business opportunities and networking, Rosenbaum says the most important thing he gets back from the organization is education. He enjoys just sitting down with other members and learning from them.

In the next year, Rosenbaum wants to see the local MPI add more educational programs, such as the ones he attended on surviving in this economy and keeping up to date with technology.

“Basically any education that makes us better prepared as professionals, that is where the value and the ROI is,” Rosenbaum says.

Arizona Business Magazine Sept/Oct 2010

Civic Space Park - AZ Business Magazine Sept/Oct 2010

Local CVBs Sound Off On Boycotts And Why Arizona Is Still A Top Meeting And Travel Destination

It’s no secret that the meetings industry, and travel in general, has taken quite a few hits in Arizona over the past few years. As a result, local convention and visitors bureaus — the ones who promote travel to and meetings in the state — have had to overcome new obstacles in their quest to make the Valley a top destination spot.

Steve Moore, president and CEO of the Greater Phoenix Convention and Visitors Bureau (GPCVB), notes that while room night consumption was up nearly 11 percent from January through May (versus those same months last year), future business-lead production since this past May has dropped to 40 percent below the year-over-year pace.

“And remember,” he adds, “we were in a severe recession and also a key target of the (corporate meetings backlash) last year.”

While the corporate meetings backlash has abated, the state’s tourism industry was hit again this spring when the state Legislature passed, and Gov. Jan Brewer signed, the nation’s toughest immigration law, SB 1070. The media firestorm that ensued caused cities, companies and individuals to boycott doing business in and traveling to Arizona.

Stephanie Nowack, president and CEO of the Tempe Tourism Office, is aware of just two groups that decided not to meet in Tempe due to the immigration law. However, the combined economic impact of those cancellations was a loss of $385,000 to the city.

Pam Williams, CTA, convention sales manager for the Mesa Convention and Visitors Bureau, notes that the immigration law may be having a greater negative impact than can be seen on the surface.

“We have had a few groups express their concerns about this bill, and some organizations have specified that their group will not be considering Arizona as a destination in the near future for their conferences and meetings due to SB 1070,” Williams says. “However, industrywide, it’s the meetings we don’t know about that have silently chosen to exclude Arizona on their RFPs and short lists that will have the greatest impact. This will make calculating the monetary effects to our industry next to impossible.”

But, believe it or not, there is some good news to report on the tourism front. According to Rachel Sacco, president and CEO of the Scottsdale Convention and Visitors Bureau, “Scottsdale’s January through April 2010 occupancy and revenue per available room (is) ahead of last year … This past year, 50 percent of our meetings leads were for new business.”

In addition, a Metropoll XIII study, conducted by the market research firm Gerald Murphy and Associates, recently found that “meeting planners rank Scottsdale first for its romantic atmosphere, friendly residents, green policies, outdoor recreation, and great shopping and restaurants.”

The positive outlook is not contained in Scottsdale, but is being felt all over the metro area.

Moore notes that “the GPCVB typically books between 600,000 to 700,000 hotel room nights per year, and last fall we doubled our meeting planner fly-ins, targeting those groups with a peak block of 200 rooms. Most were over 1,500 rooms on peak, and we were very successful in showcasing the ‘New Phoenix,’ as too many planners had not been to our destination in many years.”

Over in Tempe, voters recently approved Prop. 400, which increased the bed tax by 2 percent.

“It is our job to promote the area and drive traffic to Arizona,” Nowack says. “With this additional funding, we’ll be able to put into place a strategic initiative to market the area in a consistent and positive way.”

Nowack also is proud to announce a new event in the Tempe/Scottsdale area, the Women’s Half Marathon. It will begin in Scottsdale and end at Tempe Beach Park, and is expected to draw 5,000 participants on Nov. 7. Nowack says the event is “a perfect example of new business still looking to Arizona.”

“They chose us because of our knowledge, experience, and success hosting events,” she adds. “We are known for hospitality.”

It is this local hospitality that Nowack would like to remind meeting planners of when it comes time to schedule their travel and events.

“(The immigration law) has given us a challenge to rebuild Arizona’s brand,” she says.

But Moore says this may be easier said than done.

“Because our hard-earned brand has somewhat been hijacked, this effort will take longer than many suspect,” he says. “Substantial marketing resources from both the public and private sectors must be enhanced and maintained. Tourism/meetings (have) been impacted far more than any other sector in the state, and our industry needs to create a compelling reason for the state’s business leadership to better appreciate how visitors and conventions impact them.”

Arizona Business Magazine Sept/Oct 2010

Mindy Gunn - AZ Business Magazine Sept/Oct 2010

Event Planning Chose Mindy Gunn

Mindy Gunn, AVP, CMP
Technology and Operations Group Event Manager
Wells Fargo Bank
www.wellsfargo.com

Mindy Gunn didn’t choose event planning — it chose her.

Gunn planned on attending law school, but she switched career paths when she was offered a job as a meeting planner with Wells Fargo Bank.

“My start in the meetings and events industry came when I co-founded a nonprofit organization in college that produced and promoted free concerts and theatrical productions in the community,” Gunn says, adding that she also produced events while working at Wells Fargo as she attended Brigham Young University.

Gunn has been with Wells Fargo for 15 years, starting as a teller.

In her role as an event manager, Gunn joined the Arizona Sunbelt Chapter of Meeting Professionals International seven years ago. She initially joined as a way to gain her certified meeting professional (CMP) designation, which she did in 2006.

“MPI provides a link to other meeting professionals, as well as valuable resources to help me manage my ever-changing role in my organization,” she says.

“I am able to network with others in my profession, and keep apprised of what is happening in the industry in a way that works for me, whether it be a networking event, or, more often, the Web resources.”

Gunn says the current economic situation hasn’t changed her association with MPI; it is still a resource.

“MPI has provided important information and resources on how I can be more strategic in the support of my company from a meetings perspective,” she says.

Gunn adds that MPI also can help industry newcomers in this economy.

“I think there are fewer newcomers to the organization,” Gunn says. “With the current job market, it is becoming tougher to enter the industry, and as a result, fewer new members. These newcomers are vital to continue innovating and keeping the approaches ‘fresh.’”

Gunn says she wants to personally mentor newcomers in order to help them understand the opportunities MPI has to offer both personally and professionally. Gunn admits she didn’t take advantage of an MPI mentor when she was offered one, but she says she now knows that mentors are important.

“I would also like to see these new members aligned with mentors from their area of focus, so they can truly learn more about how to take the most advantage of the opportunities before them,” Gunn says.

Not only are newcomers an important part of MPI’s future, but so, too, is bringing together existing members, Gunn says. She says that a forum for members from all branches of the industry, from independent and corporate planners to suppliers, is something that would benefit all members.

“The more we understand each other’s roles, the better we can work together,” she says.

Arizona Business Magazine Sept/Oct 2010

Jill Longfellow - AZ Business Magazine Sept/Oct 2010

Jill Longfellow, Convention Group Sales Manager At EnterpriseHoldings Inc.

Jill Longfellow
Convention Group Sales Manager
Enterprise
Holdings Inc.
www.enterprise.com

Jill Longfellow is grateful for her membership in the Arizona Sunbelt Chapter of Meeting Professionals International, and now she is helping others see the benefits as well.

As the chapter’s director of Membership Retention and Global Community Challenge, Longfellow spends time speaking to members who want to cancel their memberships because of downturns in the economy and the tourism industry. The decline in membership is why the chapter created a global community challenge that encourages members to learn about each other’s businesses in order to create referrals, she says.

“(The global community challenge) has been a terrific way for our members to truly see the ROI from their MPI membership above and beyond the education we receive at our monthly meeting,” says Longfellow, the convention group sales manager for Enterprise Holdings Inc.

A referral is also what piqued her interest in MPI. She joined in 2000, after a former Enterprise employee explained to her that MPI is a “terrific association.”

In her time with the Arizona Sunbelt Chapter, the group has created a return on investment receipt program. This program allows members to see what their MPI membership has done for them in the past.

“It is a goal of our chapter this year to make sure that every member sees the ROIs from their local involvement with our local chapter,” Longfellow says.

“My MPI membership has allowed me the opportunity to meet with hoteliers and meeting planners that I would not have been able to meet with in the past without the exposure I receive from my involvement with my local chapter.”

The exposure Longfellow has created for Enterprise through MPI is “critical” to her job, she adds.

“My involvement and membership with MPI helps to ensure that the meeting planner committee understands Enterprise’s commitment to community service and customer service,” Longfellow says.

MPI also has allowed the business and meeting planning community to better understand all that the rental car industry can do for companies holding gatherings in Arizona, she says.

Just as MPI has had a big impact on her career, Longfellow says the Arizona Sunbelt Chapter of MPI has a major role to play in the business community in the years to come, especially in this current economic climate.

“I believe it’s very important that our board and our members get the word out to the public and to our elected officials about the large effect that group conventions, meetings have on Arizona as a whole,” she says. “As a destination state, we need to keep our local hotels and resorts and convention centers full with meetings, so we can keep our Arizona residents employed through these businesses — and to keep meetings happening in our beautiful state, from the northern pinecap areas of Northern Arizona to the Valley here in Phoenix, and south all the way through to Tucson.”

http://azbigmedia.com/tag/september-october-2010-2

AzHHA’s New President And CEO Laurie Liles - AZ Business Magazine Sept/Oct 2010

AzHHA’s New President And CEO Is Ready To Tackle The Industry’s Challenges

A familiar face has been named the new president and chief executive officer of the Arizona Hospital and Healthcare Association (AzHHA). Laurie Liles assumed her new role on Sept. 7, succeeding John Rivers, who will be available as a consultant until his retirement becomes official in January.

Selected by the AzHHA board of directors on June 3 after an extensive national search, Liles is a natural for the position, having most recently served as senior vice president of public affairs for the organization. In that role, Liles was the association’s chief lobbyist, putting her in charge of legislative and regulatory advocacy, and making her a familiar face at the state Capitol.

In fact, when she joined the association in 1991, Liles already was well known and respected at the Legislature. She was an intern at the Arizona House of Representatives in 1985, and in 1986 joined the House research staff. It was her first real job coming out of college, where she had majored in political science at Northern Arizona University.

The years at AzHHA that Liles spent lobbying lawmakers have given her a solid foundation for the tasks ahead. She also worked closely with the chief executive officers of AzHHA-member hospitals throughout the state.

“My role as chief lobbyist has given me a great deal of exposure to the challenging issues our members face,” Liles says. “It also enabled me to advance their interests with the regulatory entities they interact with.”

While she savors the experience and knowledge she gained as a lobbyist, Liles doesn’t plan on visiting the Capitol on a regular basis anymore.

“As the head of an advocacy organization, I will be ultimately responsible for accomplishing our advocacy goals,” she says, adding she will work closely with her staff and her replacement, who will tend to the day-to-day duties of lobbying.

Myriad challenges lie ahead, but No. 1 on Liles’ list is not unique to hospitals or the health care industry: the economy.

“The recession has been hard on everyone, and hospitals are no exception to that,” Liles says. “Our members continue to provide high-quality care, and the challenge going forward is to maintain that quality as resources become more and more precious.”

Arizona’s fiscal crisis is expected to continue for the next few years, Liles says, and as the state slowly recovers hospitals will be particularly vulnerable to any government-imposed cuts to Medicare and the state’s Medicaid program, the Arizona Health Care Cost Containment System (AHCCCS). The question remains how the state will pay for ever-expanding AHCCCS rolls. Enhanced federal matching funds, which faced some opposition in Congress, would ease the burden.

A close second in priorities is implementation of the new federal health care reform law. Fortunately, Liles has maintained a close working relationship with Arizona’s congressional delegation, particularly staff members who deal with health care issues. In addition to e-mails and phone calls, Liles has made it a practice to meet in Washington, D.C., with congressional members a couple of times a year.

Norm Botsford, chairman of the AzHHA board of directors, cited the federal health care law when he announced Liles’ appointment.

“The state’s health care community and citizens will be well served by Ms. Liles’ leadership as we begin the process of implementing the historic health care reforms signed into law by President Obama.” he stated.

But one of the challenges facing Liles and hospital administrators throughout the state does have a silver lining. Asked what good news hospitals can expect in the year ahead, Liles took a long pause before saying: “The really positive news for health care is the increased coverage that the federal health reform legislation brings. Having 32 million more Americans who previously had no insurance be covered is a positive development, but with it comes challenges of providing care for them.”

http://azbigmedia.com/tag/september-october-2010-2

AzHHA’s 2010 Annual Membership Conference - AZ Business Magazine Sept/Oct 2010

AzHHA’s 2010 Annual Membership Conference Is Aimed At Helping Members Prepare For Change

With the health care field on the brink of a major upheaval, the Arizona Hospital and Healthcare Association’s (AzHHA) 2010 Annual Membership Conference offers members information on what to expect in the future.

The theme, Bringing the Future into Focus, incorporates a mix of topics and speakers intended to appeal to a diverse hospital audience. Attendees will hear from leading economists, patient safety experts, health care visionaries and others.

LeAnn Swanson, vice president of education services for AzHHA, says the conference is the ideal venue to bring the new health care reality into full focus.
“Some of the best minds in the industry will be providing hard-hitting education and thought-provoking commentary,” she says. “This conference is intended for the entire hospital family, including the C-suite leadership team, hospital trustees, legal counsel, operations, quality, patient safety, human resources, and marketing officers.”

This year’s conference, Oct. 14-15 at The Buttes Resort in Tempe, kicks off with a keynote session featuring Lowell Catlett, Ph.D., regent’s professor, dean and chief administrative officer at New Mexico State University’s College of Agricultural, Consumer and Environmental Sciences. He will speak on the present and future of the economy.

Catlett notes that economic downturns are common — with 14 recessions during the past 80 years — and provide a means for society to re-balance what it deems to be important.

“Every recession leads to a spurt in new business starts, reformulation of business practices and new technological adaptations,” he says. “This current pause is no exception as we focus on what we value most. Get ready for phenomenal growth in health care, energy and lifestyle markets. For those willing to embrace the opportunities, the next decade will be successful beyond any in history.”

Immediately after Catlett’s presentation on Oct. 14, the general session will feature Ron Galloway, director of the documentary “Why Wal-Mart Works and Why That Makes Some People Crazy,” and the newly released “Rebooting Healthcare.” His topic, Wal-Mart and the Future of Healthcare, covers in-store health care clinics that offer everything from eyeglasses to flu shots to urgent care.

Galloway says the discount retailer aims to leverage its 4,000 stores into the largest force in American health care.

At the Oct. 15 breakfast meeting, sponsored by the American College of Healthcare Executives (ACHE), Chris Van Gorder, president and CEO of Scripps Health in San Diego and ACHE 2010-2011 chairman, will offer a look at Scripps’ medical response team. Van Gorder will describe the team’s efforts in the Hurricane Katrina-ravaged Gulf of Mexico, San Diego after its massive wildfires and quake-stricken Haiti.

Concurrent breakout sessions will look at the key drivers of physician behavior and the natural tension that exists in doctor-hospital relationships; trends and technologies that are “re-forming” health care in unexpected and beneficial ways; and the notion of being in a health care bubble with a high potential for a correction over the next five years.

The closing session will feature John Nance, author of “Why Hospitals Should Fly,” which was named the 2009 book of the year by the ACHE. Based on his book, Nance offers some solutions to the patient safety and quality-care crises that resonate deeply with all health care audiences.

The conference also will feature AzHHA’s annual awards luncheon, and a president’s reception that will give attendees an opportunity to say goodbye to the organization’s longtime president and CEO, John Rivers, as he nears retirement. The reception also will serve to introduce AzHHA’s new leader, Laurie Liles.

Along with the conference, during the upcoming year AzHHA also will offer a series of webinars and other events of interest to members of the hospital and health care industry, as well as representatives of the business community, Swanson says. The emphasis will be on compliance-related topics, including rules and regulations of the Centers for Medicare and Medicaid Services, the Health Insurance Portability and Accountability Act (HIPAA), and the Federal Emergency Medical Treatment and Labor Act, also known as EMTALA.

To learn more about upcoming education opportunities from AzHHA and to register for conference events, visit www.azhha.org/educational_services and click on education events.

    Arizona Hospital and Healthcare Association’s
    2010 Annual Membership Conference

    Oct. 14-15
    The Buttes Resort
    2000 Westcourt Way, Tempe
    www.azhha.org

Arizona Business Magazine Sept/Oct 2010

Pat Walz VP - AZ Business Magazine Sept/Oct 2010

Electronic Health Records And Cancer Care Are On Pat Walz’s Radar For Yuma Regional Medical Center

Pat Walz
President and CEO
Yuma Regional Medical Center
www.yumaregional.org

As the new president and CEO of Yuma Regional Medical Center, Pat Walz is looking to the future. Walz, who was named to the top spot at Yuma Regional in June, has several plans to make the hospital a leader in the health care industry, including implementing an electronic health record system throughout the community, creating a residency program and strengthening the hospital’s cancer care.

He says he wants Yuma Regional to “be leading edge for the whole state of Arizona” in 10 years.

“We don’t want our patients to feel like they need to go to Phoenix or Scripps in San Diego or Tucson,” he says. “We want to provide the same level of service in this community.”

Walz, who has been in the health care industry throughout his career, has been with Yuma Regional for five years, adding that he’d like to stay “as long as they let me. I think this is where I’m going to end my career.”

During his time at Yuma Regional, Walz served as chief financial officer, and the financial stability he attained for the hospital is one of his proudest career achievements.

“We have a very healthy balance sheet, a double-A bond rating and a lot of financial support that makes us able to invest in technology,” which allows Yuma Regional to provide the best health care to the community, Walz says.

In addition to providing a stepping stone to his current position, Walz says one thing he has learned from his background in finance is to always speak the truth.

“From a finance standpoint, one thing I’ve always prided myself (on) is providing accurate information,” he says. “I think when you establish that with physicians, staff, community — anybody — then when you talk people believe you.”

Another way the hospital serves the community is by being a member of the Arizona Hospital and Healthcare Association (AzHHA).
“I think having that connection is really important,” Walz says. “It’s kind of a venue (for) when we have issues out in the rural areas.”

Speaking to the Legislature with AzHHA’s backing gives rural communities a louder voice that can compete with urban areas, he adds.

“(My job is) exciting to me in that we have a good medical staff, an excellent leadership team and some really committed employees,” Walz says. “(Yuma Regional) commits to the employees as well. We have a very good benefit plan. We stay competitive with the areas we have to recruit from … It’s a pretty exciting place to be and the board has a commitment to quality and patient safety.”

Arizona Business Magazine Sept/Oct 2010

State Budget Cuts Will Hit Arizona Hospitals - AZ Business Magazine Sept/Oct 2010

Despite Restoring Some Funds, State Budget Cuts Will Hit Arizona Hospitals

It was looking pretty grim at 1700 W. Washington St., as Gov. Jan Brewer and a badly splintered Arizona Legislature struggled to cobble together a state budget that would have the appearance of being balanced.

Taking a follow-the-money tactic, policymakers targeted programs such as education and health care that annually receive large sums of taxpayer dollars. The budget Brewer and Republican lawmakers put together, addressing a $3.2 billion shortfall for fiscal year 2011, sent shock waves throughout the health care community.

The Arizona Hospital and Healthcare Association (AzHHA) estimated the cuts would reduce hospital revenue by $1.15 billion in state and federal funds in FY 2011, which began July 1, and cost the overall health care community $2.7 billion. For example, the budget package eliminated coverage under the state’s Medicaid program — Arizona Health Care Cost Containment System (AHCCCS) — to 310,500 adults and children, and eliminated KidsCare, ending health care coverage for 47,000 children. KidsCare provides low-cost insurance for the children of parents who earn too much to qualify for Medicaid, but are still considered the so-called working poor.

Before the ink was dry on the bills the governor had signed, officials learned that the landmark health care reform bill passed by Congress prohibited such budget cuts under the threat of losing federal funds. So lawmakers passed another bill to restore money stripped from AHCCCS and KidsCare. Failure to have taken the follow-up action, officials said, could have cost Arizona more than $7 billion in federal money for health care.

AzHHA strongly supported the governor’s push for a temporary 1-cent sales tax increase, which voters approved by a 64 percent to 36 percent margin. The tax increase remains in effect until May 31, 2013, and is expected to generate about $3 billion over three years to protect education, public safety and health and human services from further cuts.

Despite avoiding a funding disaster, hospitals still are forced to deal with a considerable loss of government dollars. Laurie Liles, president and CEO of AzHHA, says hospitals sustained $50.1 million in cuts to the Disproportionate Share Hospital (DSH) program, which provides special funding to hospitals that treat a significant number of AHCCCS and uninsured patients. The state cut $16.7 million, resulting in a loss of $33.4 million in federal funds. The federal stimulus act of 2009 matches state dollars three-to-one for DSH, so when the state trims $1 from the program, the total loss is $4.

Hospitals also lost some $37.3 million in funding for graduate medical education, which helps pay for physician instruction programs.

“There is no funding for 2011,” Liles says. “That is a huge loss for Arizona, considering the significance of our physician shortage.”

In addition to those losses, the Legislature authorized AHCCCS to reduce all provider payments, including those to hospitals, by up to 5 percent for fiscal 2011.

“We don’t know what percentage cut that hospitals will receive,” Liles says. “Hospitals are planning on the full 5 percent, but we’re hoping it will be somewhat less.”

Since 2008, Arizona hospitals have sustained several hundred million dollars in payment cuts and freezes, which impact hospital employees — medical and non-medical, Liles says. The association has been monitoring how its member hospitals are dealing with the recession.

“We have found that hospitals are managing through a variety of ways,” Liles says, “with some staffing reductions, delays in capital construction and services to the community. Hospitals have had to make some very hard choices about services. Strategies that hospitals have been forced to employ affect all Arizonans.”

For example, Liles says, when hospitals are underpaid, either by AHCCCS or Medicare, hospitals shift those costs onto commercial health plans to make up the difference.

“We call that cost shift a hidden health care tax,” she says. “That results in higher premiums for businesses and families. We all end up paying for the cost shift that hospitals are forced to make.”

Liles, who previously was the chief lobbyist for AzHHA, says she spent a lot of time over the past few years visiting with legislators regarding the impact of the hidden health care tax.

In 2009, the Arizona Chamber Foundation, an affiliate of the Arizona Chamber of Commerce and Industry, determined that all purchasers of health care coverage pay 40 percent more for hospital care through commercial insurance as a result of underpayments from AHCCCS and Medicare, Liles says.

“We look for more of the same,” she says.

Hospitals are counting on Congress to continue funding AHCCCS at an increased level.

“We have shared our concern with our congressional delegation,” Liles says. “The enhanced federal medical assistance percentage is absolutely vital to Arizona.”

The increased funding amounts to about $480 million — money needed to cover the expanded AHCCCS population — that the state is mandated to continue covering as a result of national health care reform. Without additional federal funding, Liles wonders: “How are our Legislature and governor going to pay for that? We are concerned about the care we provide. There are only so many places our state can cut.”

By The Numbers: Health Care Cuts

  • $50.1 million in cuts to the Disproportionate Share Hospital (DSH) program
  • $37.3 million in funding for graduate medical education
  • AHCCCS can reduce all provider payments by up to 5 percent

Arizona Business Magazine Sept/Oct 2010

Rona Curphy - AZ Business Magazine Sept/Oct 2010

Rona Curphy, President And CEO Of Casa Grande Regional Medical Center

Rona Curphy
President And CEO
Casa Grande Regional Medical Center
www.casagrandehospital.com

As president and CEO of Casa Grande Regional Medical Center, Rona Curphy has moved to the top of the medical field thanks to her years of dedication.

From 2002 to 2009, Curphy served as the chief nursing officer at the nonprofit community-based hospital in Casa Grande. When she was asked to be interim CEO in February 2009, she jumped at the new experience. Curphy saw it as an opportunity to grow in her profession and to learn new skills. About five months later, Curphy was named Casa Grande Regional Medical Center’s official president and CEO.

As president and CEO, Curphy works to ensure that the hospital implements the strategic plans adopted by the board of directors.

“My duties are making sure we meet our mission, our vision of organization, making sure people are on top of strategic goals, engaging partners, providing the best quality health care environment for them to practice in, and making sure the staff has a great environment to work in,” Curphy says.

Curphy emphasizes that in her role she tries to be a visible and active community member. She sits on the chambers of different cities, on an economic development board and attends events so the hospital will be viewed as a part of the community.

Although Curphy currently does not hold a position on the Arizona Hospital and Health Care Association’s (AzHHA) board or committees, she has been very active with the organization in the past. While serving on the patient safety committee, Curphy looked at new patient initiatives throughout the state.

“I had to look at everybody’s concerns and issues as we made decisions going forward,” Curphy says.

She also served on the Campaign for Caring committee, where she ended up chairing one of four task forces. On the government affairs committee, Curphy helped give legislators ideas on what stands the hospital and health care community wanted them to take on issues. She points out that AzHHA is an important organization to the community and to hospitals.

“AzHHA is our voice across Arizona,” Curphy says. “Having one voice where lots of members can give ideas, gives us opportunities to work with the Legislature to get things done.”

Curphy says another key benefit of AzHHA is that it offers the opportunity to network nationwide. But Curphy adds, a big challenge AzHHA faces is being able to successfully manage networking events during a very busy time in the health care industry. With all of the new legislation on health care being written and passed, it is easy to get caught up in focusing solely on the issues, rather than the networking aspect of the organization, she says.

Curphy wants to see more members take advantage of the opportunities that AzHHA presents, and to get involved in the events the organization hosts. In addition, Curphy says AzHHA has to focus on maintaining and recruiting new members, “… and making sure (the organization is) not too costly for members, or difficult for members to participate. If they make the cost too much, there will only be a few members, and the end result doesn’t allow for great networking.

“I think it is up to (AzHHA) to get out to member hospitals, to get people out there to say, ‘Get involved,’” Curphy says.


arizona Business Magazine Sept/Oct 2010

Sonoran Water - AZ Business Magazine Sept/Oct 2010

Mike Johnson And Cody Howard Use Their Love Of Landscaping To Benefit Clients

Company: Sonoran Rain Landscape Creations | Sonoran Waters Custom Pool and Spa
Title:
Owners
Web:
www.sonoranrain.com | www.sonoranwaters.com
Est.:
2003, 2005

Mike Johnson took the saying, “If you want something done right, do it yourself,” to heart when he started his own business.

Johnson began his career in landscape maintenance in 1983, and 20 years later, in 2003, he launched Sonoran Rain Landscape Creations to do the work he enjoyed most. “I wanted to get into completely custom work so I could be creative,” he says. “At this point, my goal is to just build really amazing stuff, just do all custom work, no more cookie cutter, because it’s more rewarding for me personally.”

As his business developed, Johnson became frustrated with mistakes in inadequate pool designs. He put the word out that he was looking for someone with expertise in water features and found Cody Howard, a licensed pool builder. Howard is now the owner of Sonoran Waters Custom Pool and Spa, founded in 2005, which works in tandem with Sonoran Rain.

Johnson says his partnership with Howard has “given us the resources to offer all backyard services under one roof.”

“What we wanted to do was create an opportunity for people to have their entire project managed by one team,” Johnson says. “This way, there’s no dealing with prior design mistakes or omissions or anything like that.”

The Sonoran Rain and Sonoran Waters team tailors each design to the client’s specific needs and desires. Clients can even see their backyards redone in a full 3D digital rendering before even an inch of dirt is shoveled.

“That’s really the whole process in a nutshell — (listen) to people, find out what people want and provide exactly what they want, because, when it comes to the end of the day, it’s their yard, their project,” Johnson says.

Although the home building industry has taken a massive hit, Sonoran Rain and Sonoran Waters were able to switch gears from new home landscaping to renovating and remodeling existing landscapes. The companies have continued to be profitable in a tough economy by focusing on homebuyers who are “eager” to invest in their homes.

These homebuyers “have a long-term goal of making their homes exactly what they want them to be because … they are going to stay in them,” Johnson says.

He strives to give clients their own personal desert oasis on a budget and time scale that works for them. Clients can break up the remodel into phases, which “makes it easier in these times,” Johnson says.

“We do this because we absolutely love it,” he says. “We love to just get involved from the ground stage and develop something and carry it to the end, and build something we’re all proud of.”


arizona Business Magazine Sept/Oct 2010

Jim Dickson Copper Queen Community Hospital - AZ Business Magazine Sept/Oct 2010

Through Tele-Medicine And Rural Clinics, Jim Dickson Serves Arizona

Jim Dickson
CEO
Copper Queen Community Hospital
www.cqch.org

Having been in the health care field for 40 years, Jim Dickson is well suited for his position as CEO of Bisbee’s Copper Queen Community Hospital. Dickson has worked in hospitals of all sizes, from large ones with 440 beds to smaller hospitals, such as Copper Queen, with just 15 beds.

Dickson says he prefers rural, smaller hospitals because of the “strong intrinsic reward to working in rural areas.”

Copper Queen’s main challenge is serving a small number of people scattered over a large area, Dickson says. In his 12 years as CEO of Copper Queen, Dickson has put in place several programs to better serve Bisbee’s rural population.

“We’re bringing care where it was not there,” he says. “So, we’re actually really helping people.”

The hospital uses tele-medicine, which allows patients to see specialists across the state through video conferencing. Dickson’s strong commitment to tele-medicine has brought about tele-stroke, -dermatology, -cardiology and -trauma units. Copper Queen collaborates with Mayo Clinic Scottsdale, University Medical Center in Tucson, the University of Arizona’s tele-medicine program and the Carondelet Health System for its tele-medicine consultations.

He says tele-medicine is the way to solve the problem of physician shortages in various parts of the state, which puts rural communities at a disadvantage.

Dickson says he enjoys launching and employing new technologies and hopes Copper Queen will be the first virtual hospital in the United States. Becoming a virtual hospital will “eliminate the disparities of care between rural and city” hospitals, adds Dickson, who also chairs the Arizona Hospital and Healthcare Association’s (AzHHA) small hospital committee.

AzHHA, Dickson says, has helped Copper Queen affect legislation at the state level. Currently, Dickson, Copper Queen and AzHHA are lobbying the state Legislature to pass a law that will ensure Arizona’s health insurance companies cover tele-medicine. With AzHHA’s backing and advocacy, he says this legislation will guarantee that people in rural areas receive better health care.

Dickson says he is pushing “to ensure that all the people in the communities we serve receive the care they deserve as American citizens.”

Another way Copper Queen serves its patients is by operating the state’s three largest rural health care clinics. Through these clinics and tele-medicine, Copper Queen not only has begun to serve its patients better, but also save money. The hospital has grown by 30 percent each of the past three years.

During his time at Copper Queen, Dickson has used his experience to bring quality health care to the people of Bisbee and its surrounding communities.

“They needed it,” he says. “In Bisbee, you can really make a difference.”

Arizona Business Magazine Sept/Oct 2010

Jacob Gold AZ Business Magazine Sept/Oct 2010

Jacob Gold, President Of Jacob Gold & Associates

Describe your very first job.
My first job came in high school, when I worked at a retail clothing store at the Paradise Valley Mall. I learned to appreciate and respect all customers, and that they were always right.

Describe your first job in your industry.
While studying economics at Arizona State University, I realized that I wanted to follow in my grandfather’s and father’s footsteps and become a financial adviser. Fortunately, my father gave me an opportunity to begin working at his company in order to gain experience. I learned that all things of great quality come over time and you must be patient with yourself.

What were your salaries at both jobs?
I made $4.75 an hour at the clothing store and less than $15,000 my first year out of college.

Who is your biggest mentor?
My father, Bill Gold, has been the biggest mentor of my career. He taught me lessons of money management and business skills that otherwise would have taken me decades to learn on my own. He also gave me the encouragement to start my own company and to write my first book.

What advice would you give to a person entering your industry?
The responsibility of managing the investments for major corporations and individuals is not for the faint of heart, especially after the economic collapse of 2008. You must be able to analyze situations, create a strategy and then be able to effectively communicate your conclusions to others.

If you weren’t doing this, what would you be doing?
If I was not a financial adviser, I would surely be teaching economics at a college or university.

Arizona Business Magazine Sept/Oct 2010

Benito Almanza Arizona State President Company: Bank of America - AZ Business Magazine Sept/Oct 2010

CEO Series: Benito Almanza

Benito Almanza
Title: Arizona State President
Company: Bank of America

How would you assess the banking industry’s reactions to the new financial reform law? What are the industry’s biggest concerns, particularly in regards to derivatives and less onerous regulation on small banks?
Bank of America has generally supported reforms, including the formation of a new consumer protection agency. While this reform will ultimately have an effect on many businesses across Bank of America and other financial service companies, customers and clients should not expect any abrupt changes as a result of this legislation. The full impact and scope of the bill may take years to be felt, as regulators establish hundreds of new rules to implement the law.

The year 2009 was a tough one for Bank of America in terms of the federal bailout and executive shakeup. How has repaying the bailout and installing a new CEO affected the company’s operations and public image?
In December, Bank of America took a series of important actions to move our company forward. We repaid the entire $45 billion preferred stock investment provided under the Troubled Asset Relief Program (TARP), plus interest. A few days later, Brian Moynihan was selected to lead our company. He has a level of credibility and broad-based experience few can rival, having led every major line of business in financial services, including wealth management, corporate and investment banking, and consumer and small business banking.

As Arizona president for B of A, how have you — and your peers from other large banks — addressed the concerns Main Street has about Wall Street?
The industry understands that our well-being is interconnected with the health and vitality of the economy and the communities we serve. It is not in any companies’ interest to put profit over common sense. Nor is it in anyone’s interest to lose sight of the value our industry provides among legitimate concerns about the difficulties of the recent past. Our challenge for the foreseeable future — and I think we’re moving in the right direction — is to reconcile this and strengthen our financial system by working with leaders and regulators in a spirit of trust and goodwill.

In speaking for my own company, Bank of America has introduced clarity commitments within our card, deposit and mortgage services to make sure customers receive clear and easy to understand language about their relationship with our bank. In addition, our new overdraft fee changes went into effect July 1, whereby we will decline a debit card transaction at the point of sale when there is not enough money in the account for the transaction, and not charge overdraft fees to the customer.

Small businesses are having a difficult time getting loans and various lines of credit. B of A prides itself on its No. 1 SBA-lender status. How important is that role in the economic recovery?
With 4 million small businesses customers — more than any other bank — Bank of America feels a deep sense of responsibility to support them in every way possible. In the first half of 2010, we provided $45.5 billion in loans to small and medium-sized companies, well on our way to meeting our pledge to increase lending by $5 billion over 2009 levels, or $86.4 billion.

We continue to also look for creative ways to help these businesses bridge to a stronger economy. For example, we recently announced a new program that can help as many as 8,000 small businesses obtain $100 million in federal microloans through nonprofit lenders like CDFIs, by providing CDFIs with grants to cover loan loss reserves required to get the SBA/USDA loan capital. This is low-cost, long-term capital for small business microloans nationwide over the next 12 months.

What challenges and opportunities lie ahead for the banking industry in Arizona?
Arizona’s economy will probably be on a slower track than most states because of the significant losses in our housing and jobs markets. That being said, there are many bright spots to look forward to and we must continue to make every good loan we can and focus on opportunities that will help our long-term economic recovery …

    Vital Stats


  • Has been with Bank of America for more than 30 years
  • Responsible for the overall performance of all business banking activities in Arizona
  • Graduate of Stanford University and Santa Clara University
  • Member of the California State Bar Association
  • Member of the U.S. District Court Northern District Association
  • Member of the Greater Phoenix Leadership and Arizona Bankers Association
  • Serves on the board of Phoenix Aviation and Teach for America
  • www.bankofamerica.com

Arizona Business Magazine Sept/Oct 2010

Make Larger Loans To Small Businesses - AZ Business Magazine Sept/Oct 2010

Arizona’s Credit Unions Want To Make Larger Loans To Small Businesses

As lending opportunities for small businesses throughout Arizona continue to tighten, legislation has been moving through Congress that would enable Arizona’s credit unions to make more loans to small businesses. The media is filled with reports about how small businesses are having trouble gaining access to affordable credit. Credit unions did not take TARP money during the financial crisis, and they can help small businesses create jobs and jumpstart the economy, all at no cost to the taxpayer. This is inconsistent with additional proposals that would give added TARP money to the for-profit banks in order to stimulate small-business lending.

Many local credit unions stand ready to help. But unlike banks, credit unions are constrained by an arbitrary cap that, under current law, limits the amount of small business loans they can make to 12.25 percent of total assets. The Senate is currently debating legislation introduced in the House, the Small Business Lending Fund Act, and Sen. Mark Udall (D-Colo.) has offered a proposed bipartisan amendment to the bill that would raise the business lending cap on credit unions from 12.25 percent of assets to 27.5 percent.

Upholding credit unions’ history of prudent and responsible lending, the credit union would need to meet certain criteria and be approved by the National Credit Union Administration to lend in excess of the current 12.25 percent cap. A credit union would have to be well capitalized (above 7 percent); at or above 80 percent of the current business lending cap for one year before applying; have five or more years of business-lending experience; have a history of strong underwriting and servicing of business loans; and have strong management, an adequate capacity to lend and policies to manage increased business loans. This amendment also includes provisions that would protect the National Credit Union Share Insurance Fund. The Treasury Department also sent a similar proposal to Congress earlier this year.

If the credit union member business lending cap were raised from 12.25 percent to 27.5 percent of assets, the estimated increase of small business loans would be $10 billion in the first year, leading to the creation of 108,000 new jobs, according to estimates from the Credit Union National Association. More than 1,600 of those jobs would be created here in Arizona. Just as important, this arbitrary lending cap increase would come at no cost to the U.S. taxpayer.

Small business is the cornerstone of our community and the key to increasing jobs and economic recovery. The additional lending authority would enable credit unions to do more of what they do best — make safe-and-sound loans to members. In this case, to members who are looking to start or expand a small business in Arizona.

As member-owned, not-for-profit, cooperative financial institutions, supporting local business is natural, and oftentimes, members are seeking a business loan that is too small for banks. The average size of a credit union small business loan in Arizona is only about $240,000, and Arizona credit unions maintain only about 2.6 percent of the local business lending market share.

A well-run member business lending program has the potential to bring a great amount of success to the community. First and foremost, the member businesses have another lending option, allowing them a chance to succeed with the right loan. However, a member business lending program requires personnel and resources. With a cap that is as low as 12.25 percent, many credit unions find the cap too restrictive to offer business loans.

With more capacity to make small business loans, credit unions throughout Arizona can do more to help spur the creation of new jobs, and help accelerate our nation’s economic recovery.

Arizona Credit Unions
Currently Offering Member Business Loans

  • Arizona Federal
  • Arizona Heritage Credit Union
  • Arizona State Credit Union
  • AEA Federal Credit Union
  • Continental Federal Credit Union
  • Credit Union West
  • Arizona Central Credit Union
  • First Credit Union
  • Tempe School Credit Union
  • Tombstone Federal Credit Union
  • Desert Schools Federal Credit Union
  • Vantage West Credit Union
  • TruWest Credit Union
  • Tucson Federal Credit Union

Austin De Bey also contributed to this article.  He is vice president of governmental affairs for the Arizona Credit Union League & Affiliates, www.azcreditunions.coop.

Arizona Business Magazine Sept/Oct 2010

Arizona’s Credit Unions Are Helping - AZ Business Magazune Sept/Oct 2010

Arizona’s Credit Unions Are Helping Those Who Depended On Payday Loans

With Arizona’s payday loan industry now history, the state’s credit unions are jumping into the resulting void to both help consumers and gain new members.

Called REAL Solutions, the Arizona Credit Union League & Affiliates’ new program offers an option for consumers who depended on the short-term loans made by the payday loan industry. But in proverbial teach-to-fish fashion, REAL Solutions also aims to help those consumers build long-term financial security.

One service provided by REAL Solutions is a small dollar emergency loan, which allows credit union members to get short-term loans at lower interest-rates than normal payday lenders would offer.

The average payday loan was typically for 14 to 30 days, and the fees varied between $15 and $20 per $100 borrowed. Under this model, a 14-day loan could carry an APR of 520 percent. With REAL Solutions, interest rates vary by credit union, with rates starting as low as 12 percent.

While these loans are an option for consumers, they are not the solution to borrowers who relied heavily on payday loans. However, credit union loans can benefit the borrower in ways that payday loans cannot. If repaid on schedule, the short-term loans can build the borrower’s credit score, because payments to credit unions are reported to credit bureaus, while most payday loans are not. Credit building allows borrowers to obtain better interest rates and terms on their next loan products.

Some credit unions also will put a portion of the loan repayment in a savings account if paid on time. The amount is small, but normally will cover the fee involved in setting up the loan.

Because borrowers can easily fall into a debt trap with payday loans, credit unions only provide members with the opportunity to have one of these short-term loans at a time. This keeps the borrower from getting into a never-ending cycle of taking out a loan to pay off another loan.

Two additional components of the REAL Solutions program are low-interest credit cards and member-rewards programs.

Low-interest credit cards help members gain financial stability. These credit cards are designed to be less of a financial burden on the cardholder by keeping interest rates lower than normal cards.

Credit union members also can enroll in a member-rewards point program, which is similar to a credit card rewards program. The member receives a point for every dollar paid in interest, as well as incentive-based points for continued membership, referring new members or utilizing member-friendly services such as online bill pay. The members can use the points they accumulate for items such as discounted loan rates or even to waive fees they have incurred.

The Arizona Credit Union League realizes that education is the key to financial stability and freedom. Proper financial education on budgeting, debt management, identity theft prevention, building credit, home buying, retirement savings and buying a car are key to being financially empowered.

REAL Solutions includes such benefits as:

  • Second chance checking
  • Member rewards
  • Credit building loan programs
  • Free financial education (for all stages of life)
  • Short-term, small-dollar emergency loans
  • Credit building credit card programs
  • Reloadable prepaid debit cards
  • Low-cost personal loans
  • Overdraft protection
  • IDAs (Individual Development Accounts)
  • ID theft/fraud services
  • Holiday loan skip pay

Each REAL Solutions Credit Union provides independent programs and services. Names of services and programs may vary depending on the credit union.

Arizona credit unions participating in REAL Solutions:

  • AEA FCU
  • Alhambra CU
  • Altier CU
  • American Southwest CU
  • Arizona Central CU
  • Arizona Federal CU
  • Bashas’ Associates FCU
  • Canyon State CU
  • Credit Union West
  • Desert Medical FCU
  • Desert Schools FCU
  • First Credit Union
  • Hughes FCU
  • MariSol FCU
  • Mohave Community FCU
  • Pima FCU
  • Pyramid CU
  • Southwest Health Care CU
  • Tempe Schools CU
  • TruWest CU
  • Tucson Federal CU
  • Tucson Telco FCU
  • Vantage West CU

Austin De Bey also contributed to this article.  He is vice president of governmental affairs for the Arizona Credit Union League & Affiliates. For more information about the REAL Solutions program and the credit unions that offer it, visit the Arizona Credit Union League website at www.azcreditunions.coop.

Arizona Business Magazine Sept/Oct 2010

Investors Need Transparency AZ Business Magazine Sept/Oct 2010

Investors Need Improved Transparency When Dealing With Illiquid Assets

Now more than ever, investors and regulators are demanding greater transparency when it comes to hedge funds that invest in illiquid financial instruments. This should come as no surprise given that so many recent defining business failures were related to illiquid assets.

For example, AIG’s downfall was caused by investments in structured credit derivatives that were difficult to value. Bear Stearns’ and Lehman Brothers’ descents were due in part to the illiquid non-agency mortgage assets they held. Many hedge fund investors suffered significant losses in the recent financial downturn, and consequently want a closer view of portfolio assets and valuation processes.

What are illiquid investments?

Illiquid assets are investments that can be difficult to sell and value due to limited market participants, infrequent transactions, complex structures or highly uncertain future performance. In some cases, it can take years to realize a return on the investment. Illiquid investments are frequently held in portfolios managed by hedge funds, private equity groups or investment banks. Examples may include investments in private equity or venture capital companies, distressed credit, bankruptcy claims, over-the-counter (OTC) derivatives, whole loan pools, convertible bonds, auction rate securities and collateralized debt obligations (CDOs). Because of the lack of observable transaction prices, illiquid investments often are valued using models that may include significant management judgment.

Upfront due diligence

In order to mitigate the risk posed by illiquid investments, institutional investors need to perform increased due diligence relating to a fund’s investment strategy. They need to be able to answer questions such as:

What experience has management had with liquidity shocks?

What informational advantages or specialization do they have in the marketplace?

What else is required in order to implement the fund’s strategy, such as sufficient ability to sell/hedge positions in a dealer market or continued financing terms?

It’s also important to ensure that the fund structure is appropriate to meet the cash flow needs of investors and the investment strategy, as well as the financing requirements of asset managers. Is the fund’s structure appropriate given the liquidity profile of its investments? Consider issues of leverage, redemptions and side-pocket accounts that have been used to separate illiquid assets from other, more liquid investments. Is the financing or leverage of the fund appropriate given the composition of its assets? For example, a highly leveraged capital structure with short-term financing is not advisable when combined with illiquid investments.

Lock-up periods, which may restrict an investor’s ability to exit a fund investment, are another area of growing attention due to the recent liquidity crisis. While many funds that specialized in illiquid assets were able to negotiate long lock-up periods for redemptions, other firms were forced to sell in order to satisfy investors’ requests for cash. Funds with long lock-up periods were well-positioned to buy assets at favorable valuations when their competitors had insufficient capital available to make investments. For funds with large concentrations of less liquid investments, a long lock-up period is an appropriate structure.

Hedge funds with long lock-ups need to be able to instill investor trust in their managers’ investment approaches and their funds’ interim values. If investors are restricted in redeeming their fund investments, they should have sufficient information to assess the value and report to internal constituents.

Valuation policies and procedures with an independent third-party review

Hedge funds need to establish and follow clear policies and procedures for the valuation of all assets, but this is particularly true with regard to illiquid investments. During due diligence, investors should review the fund’s written valuation methodologies to ensure management is adhering to industry best practices.

Hedge fund management can ease investor uncertainty by engaging an independent third party to review the fund’s valuation policy, process and the resulting asset prices used for investor reporting. The third party may be hired to review the valuation process and inputs for reasonableness, or alternatively, to provide an independent value of the defined assets.

Additional disclosures to investors

In response to market dislocation, many hedge funds have made disclosures above and beyond what may be required by generally accepted accounting principles (GAAP) in their financial statements to investors. Currently, these disclosures are not part of the regular financial statements, but are provided in an investor letter or as part of a supplemental investor reporting package. However, we may also see additional disclosures required related to fair value measurement, as well as structural or contractual risks.

Such disclosures can help clarify the risks to investors, such as an estimate of transaction and search costs required to liquidate assets, a discussion of market participants and exit strategy, or an estimate of the time necessary to sell or unwind a position — especially a large position. Hedge fund disclosures may also include the liquidation or quick-sale value, i.e., the price if the manager is compelled to sell.

Types of illiquid assets

  • Private equity or venture capital companies
  • Distressed credit
  • Bankruptcy claims
  • Over-the-counter derivatives
  • Whole loan pools
  • Convertible bonds
  • Auction rate securities
  • Collateralized debt obligations

Arizona Business Magazine Sept/Oct 2010

Estate Tax Laws Are In Flux - AZ Business Magazine Sept/Oct 2010

Estate Tax Laws Are In Flux — Start Strategizing Now

Let’s begin with a reasonably well-founded observation: The official repeal this year of estate taxes has seriously flawed most testamentary plans and created mild chaos for estate practitioners. Traditionally, estate planning attorneys have employed “word formula” dispositions phrased in terms of tax concepts for their drafted wills and trusts. For example, for people with larger estates, dispositions are divided into two categories:

One portion equal to the unused estate tax exemption often called the unified credit or the credit shelter trust for the benefit of a surviving spouse and descendents.

The other portion is allocated to equal the “optimum” marital deduction amount, usually expressed as the minimum amount necessary to reduce a person’s federal estate tax to zero.

In other cases, testators will cause a portion of their estate to equal the unused generation skipping tax (GST) exemption to pass in favor of or for the benefit of grandchildren. The word formula is applied because, historically, it has resulted in the optimal division or disposition of a decedent’s property.

Unfortunately, none of the above has any meaning if the concepts used to define them are no longer represented by federal statute. Accordingly, decedents of 2010 and their beneficiaries are confronted with impossible circumstances. An unintended outcome is the possible disinheritance of a surviving spouse or children.

Another interesting issue relates to existing generation-skipping trusts that are normally subject to GST on taxable distributions to “skip persons.” In
2010, none of the taxable distributions or “taxable terminations” will be subject to the tax. Possibly, the optimum outcome has arrived for GST trusts.

Within the current environment, grandparents can literally transfer fortunes to grandchildren and be subject to a one-time 35 percent gift tax.

Caution is appropriate, however, because it is impossible to predict what Congress will do. From a constitutional perspective, retroactive legislation remains a risk. If Congress retroactively reinstated estate and GST tax law, which Sen. Max Baucus (D-Mont.) has formally pledged to accomplish, then the above identified actions would be problematic.

Reinstatement of the estate tax system, notwithstanding a valid constitutional argument, would represent a symbol of poor legislation, in this author’s opinion. Here’s why: Executors and trustees of estates created in 2010, as fiduciaries, must act on current law and distribute inherited assets in a timely fashion. Would it not be legally awkward for Congress to force executors and trustees to rescind those distributions and formally adjust all 2010 estate tax returns?

So given the testamentary chaos resulting from the political process, what can we expect? Many practitioners believe legislation will occur that will reinstate the 45 percent tax rate for estate and GST applications with a $3.5 million unified exemption for each spouse. But, if Congress fails to act this year, then beginning in 2011, we will face the imposition of a 55 percent tax rate and a $1 million unified exemption. Given the current federal budget crisis, inaction will produce higher tax revenue.

This uncertain environment may provide compelling reasons for proactive folks to act. Seek qualified help with your own estate planning issues now — not later.

Philanthropic causes are becoming more meaningful to us
Everyone has been affected in some way by the deep recession. As a result, nonprofit service demand is up, but contributions are down. However, more people are contributing their time and efforts to help others. Due to a strong philanthropic lobby and the generous nature of American values, Congress has not tinkered with key charitable planning techniques. Many creative planning options exist that can help one accomplish their nonprofit objectives and enjoy enormous tax and estate benefits.

Source: Coyote Financial

Trends in Estate Planning:
More families are seeking qualified help with their financial lives

Interestingly, the revolution in technology and communication has not changed the desire or need for a personal advisory (coaching) relationship with someone deemed competent and trustworthy. Technology may help you find the right person, but no substitute is yet available for a caring, personal relationship.

Opportunities in Estate Planning

  • A grantor retained annuity trust (GRAT) is an estate planning technique that allows one to utilize the currently low federal discount rate to transfer assets to the next generation in exchange for a note. All appreciation, above the interest payment, inures in favor of the next generation. Short-term, zeroed out GRATs have been popular, resulting in significant estate tax savings for many wealthy families. The House Ways and Means Committee has passed a bill designed to eliminate short-term GRATs and zeroed out techniques. President Obama has proposed (endorsed) similar legislation that would require a 10-year term and no zero out gifting for GRATs. The opportunity for short-term, zeroed out GRATs could disappear in the next several months.
  • Congress has pending legislation to limit fractional discounts for lack of control and marketability applicable to intra-family transfers. Historically, when assets are placed into properly drafted limited liability companies (LLCs) and family limited partnerships (FLPs), discounts on the transfers to children of financial units or limited units, respectively, apply. For the present, case law and court verdicts honor the integrity of fractional discounts. As in the proposed GRAT legislation, the new rules will not apply retroactively and will only take effect coincidental to formal enactment. Keep in mind that the Treasury Department is desperately seeking methods to raise revenue. The opportunity to sell, transfer or gift assets inclusive of a fractional discount, especially among family members, may disappear in the next several months.
  • In 1995, the federal discount rate represented 9.5 percent. Today, the rate ranges between 3.4 percent and 3.6 percent. The discount rate is indirectly associated with the applicable federal rate (AFR), which can be utilized on an “arms-length basis” to make loans to children. For example, the current mid-term intermediate rate equals 2.85 percent, whereas demand-note interest rates are currently less than 1 percent. The opportunity to initiate intra-family personal or business loans at de minimis interest rates could disappear in the next several years.
  • Since generation skipping taxes have been repealed for the 2010 tax year, and the federal gift tax rate has been reduced from 45 percent to 35 percent, the opportunity to transfer/gift assets to grandchildren is economically advantageous, as noted previously. The opportunity to transfer assets to grandchildren without the imposition of estate and generation skipping tax may disappear under new legislative regulations in the next several months.
  • Because of recent market conditions, the valuation of business and real estate assets has potentially decreased. Accordingly, the cost to sell or gift assets to the next generation is lower than it may have been in 2007. The opportunity to transfer assets to family members using low valuations may disappear in the next several years.
  • Source: Coyote Financial

    Arizona Business Magazine Sept/Oct 2010

    Orange Sky At Talking Stick Resort - AZ Business Magazine Sept/Oct 2010

    The Cuisine And Atmosphere At Orange Sky At Talking Stick Resort Make For A Perfect Pairing

    Orange Sky at the Talking Stick Resort in Scottsdale serves up class from the time you enter the restaurant, all the way to the dessert course. Guests board an elevator and are whisked to the 15th floor, where city and mountain views greet diners. The hostess escorted us down a long corridor, past private rooms that looked ready to host lively dinner parties, to our table, which was the definition of elegance. A high-backed couch separated us from the hallway, adding a feeling of privacy.

    Our, not one, but two servers made us feel as if we were the only four people in the restaurant. For appetizers, we feasted on the roasted local beet salad and the overflowing antipasti plate. The rich color of the roasted beet salad, complete with black mesa ranch goat cheese, truffle oil, white balsamic and local greens, mirrored the rich flavor of the beets, but it was still sweet and light enough to be a perfect summer treat. The antipasti plate was as packed as possible with duck confit, prosciutto, eggplant caponata and grilled ciabata bread. It could have fed an entire table of hungry diners.

    As soon as dinner was served, we could not wait to indulge in the rich spread. The shrimp and scallop steaks, wrapped in jalapeno bacon, lived up to their names. There was nothing small about either. The twin tournedos of char-grilled filet of beef were as appetizing as they looked. The walnut-shallot crusted, roasted half rack of lamb was the favorite. The juiciness of the lamb next to the sweetness of the crust made me, previously a lamb neophyte, a convert.

    If the lamb was the star of the evening, the sides comprised a formidable supporting cast. The bowl of smoked, cheddar-whipped Yukon potatoes was an airy, golden masterpiece. The roasted sweet carrots tasted as amazing as their deep orange color looked on the plate. As we continued our trip around the culinary color wheel, we sampled the steamed asparagus. Its crunch made a wonderful contrast to the softer textures of the potatoes and the carrots.

    As dessert approached I didn’t know if I could go the distance. But then our server showed us the selection and we ordered three. After a rich meal of lamb, beef, carrots and whipped potatoes, nothing tastes as refreshing as the warm, lemon semolina cake with raspberries and blueberries. If you’re a chocolate lover, you will find nirvana in the chocolate mousse, layered with an orange liqueur-soaked cake and ganache on a thin chocolate cookie.

    As we finished our desserts, we watched the sun set over the Camelback Mountains and cast an orangey-red glow over the Valley. We made our way onto the patio just as the orange sky gave way to city lights. Like our secluded table, the patio and the large dining room also offer panoramic views, but with a more vibrant, animated atmosphere. The fantastic views, the cuisine and the elegant ambience will keep you coming back to Orange Sky.

    If You Go:
    Orange Sky
    9800 E. Indian Bend Road, Scottsdale
    480-850-7777
    www.talkingstickresort.com

    Arizona Business Magazine Sept/Oct 2010

    Cash In On Solar Stimulus Funds - AZ Business Magazine Sept/Oct 2010

    Time Is Running Out To Cash In On Solar Stimulus Funds

    Companies and investors across Arizona are deciding whether it’s time to “go solar.” As with any other financial undertaking, moving forward with solar must make economic sense. Despite dramatic strides in technology, solar energy projects are not yet viable without government incentives. Those hoping to maximize incentives for solar should note that a particularly useful one — Treasury grants in lieu of energy credits — will expire soon.

    The American Recovery & Reinvestment Act of 2009 (aka the stimulus bill) contained two key provisions for solar:
    Solar now qualifies for a federal energy tax credit of 30 percent of cost. The credit applies when equipment is placed in service, allowing faster recovery than the renewable electricity production tax credit. Unfortunately, credit in excess of tax liability is carried forward to the next tax year, for up to 20 years.

    But taxpayers may elect a Treasury grant in lieu of the energy credit. Grants are paid in as little as 60 days after equipment is placed in service or under construction. Treasury grants thus allow recovery of 30 percent of the cost of solar equipment, regardless of current income tax liability. More than $3 billion has been set aside for the grant in lieu of energy credit program.

    However, the grant has an expiring provision; to qualify, construction must begin by Dec. 31, 2010. Physical work of a significant nature is required. Site selection, planning, design, site clearing, and even excavation to change the contours of the land do not count as beginning construction.
    Although Dec. 31 is fast approaching, with proper guidance and execution, there is still time to act. Planning is crucial. Overlooking certain regulatory and permitting requirements early on, for example, could push your project groundbreaking into 2011.

    Steps for developing a successful solar plan:

    • Whether choosing more common photovoltaic (PV) rooftop panels or a larger thermal system, visit other companies with solar power systems already in place. Most states have associations dedicated to renewable energy that can direct you to these companies.
    • If a solar system appears feasible, assemble a team of experts to handle environmental, regulatory, tax, real estate, energy procurement and financial matters.
    • Determine your regulatory requirements and financial incentives. A good resource is www.dsireusa.org.
    • Hire a contractor to conduct an energy audit to establish a baseline for the energy needs that must be met.
    • Companies usually partner with a “solar energy provider” that installs, owns and operates the system. The provider sells lower-cost electricity to the company under a long-term contract, while generating valuable renewable energy credits that can be sold to your electric utility, further reducing electricity costs. State associations can provide listings of providers.
    • From a list of pre-selected providers, request information regarding their abilities, such as technology, installation time frames, references and financial information. Choose the best finalists. Then issue an RFP specifying the amount of energy needed, the desired length and key terms of a power purchase agreement (PPA), project size, and the warranty you expect.
    • Once a provider is selected, the land or roof lease and PPA need to be negotiated. A 20-year fixed-rate PPA is common. Companies also should meet with their electric utility to determine the grid interconnection and meter requirements, and the amount of renewable energy credits to be received.

    How To Solar Stimulus Steps:

    • Do your homework.
    • Assemble a team of experts.
    • Determine regulatory requirements and financial incentives.
    • Hire a contractor to conduct an energy audit.
    • Partner with a solar energy provider.
    • Issue an RFP.
    • Negotiate a power purchase
    • agreement (PPA).


    Mark Vilaboy also contributed to this article.  He practices tax law in the Phoenix office of Quarles & Brady. For more information, visit www.quarles.com.

    Arizona Business Magazine Sept/Oct 2010

    Most Admired Companies - AZ Business Magazine Sept/Oct 2010

    2010 Most Admired Companies Award Winners

    Arizona Business Magazine and BestCompaniesAZ are honored to unveil the winners of our inaugural Arizona’s Most Admired Companies Awards.

    With 43 winners, we think you’ll agree the awards selection committee has done an outstanding job in determining some of the most admired companies in our state.  Our primary goal in developing this program was to find those organizations that excel in four key areas: workplace culture, leadership excellence, social responsibility and customer opinion.  This list features the most prestigious companies in our state, providing us the opportunity to learn from the best.

    Adolfson & Peterson Construction
    Headquarters: Minneapolis
    Year Est.: 1991
    No. of Employees in AZ: 69
    Recent Award: AIA Kemper Goodwin Award – 2009
    WEB: www.a-p.com

    AlliedBarton Security Services
    Headquarters: Conshohocken, Penn.
    Year Est.: 1957
    No. of Employees in AZ: 1,047
    Recent Award: Brandon Hall Research Award for Best Integration of Learning and Talent Management – 2009
    WEB: www.alliedbarton.com
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    American Express
    Headquarters: New York
    Year Est.: 1850
    No. of Employees in AZ: 7,219
    Recent Award: Fortune Magazine’s Most Admired Companies – 2010
    WEB: www.americanexpress.com
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    Arizona Charter Academy
    Headquarters: Surprise
    Year Est.: 2001
    No. of Employees in AZ: 61
    Recent Award: Elks Lodge Community Partner of the Year – 2010
    WEB: www.azcharteracademy.com
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    Banner Health
    Headquarters: Phoenix
    Year Est.: 1999
    No. of Employees in AZ: 27,528
    Recent Award: Gallup Great Workplace Award – 2009
    WEB: www.bannerhealth.com
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    BeachFleischman PC
    Headquarters: Tucson
    Year Est.: 1991
    No. of Employees in AZ: 104
    Recent Award: Accounting Today’s Best Accounting Firms to Work For – 2009
    WEB: www.beachfleischman.com

    To buy a print version of the 2010 Arizona’s Most Admired Companies
    go to MagCloud.com

    Arizona's Most Admired Companies November-December 2010