Monday, April 29, 2013

Running a Family Business Success From Home

Home-based businesses and family-operated business each have their own minefield of potential problems, but they are not blurred boundary traps. For home-based business owner, which means constantly striving to maintain a healthy work-life balance, both literally (the sacred established business away from the rest of the house) and emotions (hours range which allows for time with family). For family businesses, it means income without tearing the family. But what happens when the two are combined, essentially creating a company with employees all live under the same roof? World War III? You might be surprised. Here are six ways to make it work - and five companies do just that.

    Meet different personalities Family Members'

"I am an eternal optimist: I think any new idea will work well," said Matt Siegal, a father, Sanford Siegal, Siegal Cookie Diet Dr started about 35 years ago from his home in Miami, Florida. "He more than pessimistic, or a realist, as he calls himself," added Matt. When Matt saw great potential for small business from his father to grow significantly by adding a retail division, enthusiasm is off the charts. "Of course, I will consider the options carefully and consider all the possible pitfalls," says Matt, knows his father is an approach that more carefully. In conclusion, after some due diligence, which Siegal parents agree. Matt sold his software company, joined his parents in the cake business, and the company took off.

"Now the cookies are sold at Walgreen's, and GNC, as well as from mall kiosks, some of our own retail stores and on our website," offers Matt, who served as CEO and continue to jam between his own home office in Washington, DC, and the old home base in Florida.

For Mother's Cookie Diet Doctor, as Matt refers to his mother, Lyndell, who managed the books and documents, he has his own business acumen. "He's funny, he might want to play very much in the background, acting as his opinion does not count, but in fact he was very influential and very much part of the decision making process," said Matt, welcomed their personalities mix well, which is very important in business.

2. Is Defined Functions and Benefits Explore all

"All the things that one but the 4 year old," said Rich Hoy, of Bangor, Maine. Along with his wife, Angela, he runs, a full-service publishing company that handles all aspects of book production and turned out 200 titles per year from the three-story home Hoys'.

"Our 8-year old son answers the door for the UPS driver, and walking up and down our office, so he's sort of our runners," quipped Rich. "19-year-old daughter to help during the school year, doing office work and packaging orders. Our middle child, who is almost 18, converting books to electronic format, and we are grooming our oldest son, who is 23, a GM one day, "added Rich. In addition, the eldest son of their intimacy serves as office manager.

While some people might assume that many family members working under one roof could be a recipe for disaster, Rich had to say it went pretty well defined for all work done and because he and Angela have different strengths.

"He has a great relationship with the author and understand their needs, so he handles the business aspects, as any technical, including our website and e-commerce system, my domain," he said by Rich. Each has their own strengths, they generally avoid conflict because each partner acquiesces people with greater efficiency in certain areas. "When we agree on a common business problems, we try to find a compromise solution, as we did in our marriage, so we can move forward," said Rich.

Because Angela also runs a successful online newsletter,, Rich manages the household, which means to manage the children. "Sometimes there are children it is difficult to get everyone pulling in the same direction. They can take advantage of, so some delineation between bosses and parents "when it comes to maintaining order, says Rich.

Of course, children are not obliged to work in the family business. "As long as they want to be involved, it was a great learning experience," added Rich, whose business relies inculcate the spirit of her son while building family togetherness.

3. Seek Input the

"We asked our daughters for their input on styles, fabrics and colors because we are not in the business of fashion, and a tween and teens are very aware of what's stylish at any given time," said Kelley DeSerpa, co-owner of hip-T, family Dual-California based business that sounds like it could be the premise for a sitcom or a Disney movie: Two mothers living in the household and an old friend, who lives on the same street, each have three daughters, starting a home business fashion accessory original ... and the fun begins.

Actually, it all started when Christine Meeks saw problems and create solutions. T-shirt, she saw, had a habit of revealing the secrets of unwanted belts when one bent, not to mention the "muffin top" waist with a low-cut jeans. So three years ago he created a simple yet practical clothing to cover up that looks like the bottom of the T-shirt. He called hip-T. Today, a growing business, with sales of more than 500 items a week through the internet and over 100 boutiques.

While hip-TS is now produced in close proximity, all sales and shipments easily at home by Kelley and his son, aged 10, 12 and 14, and Christine, and daughter, ages 9, 13 and 15. "The girls think it's cool that their mom ownership of real business, and we really want them to feel involved," Kelley said, noting that they all pitch with marketing ideas and that the girls even set up and manage page Facebook company.

4. Probably Make Your Family Feels Good About

For Siegals, cookie diet, the family DeSerpa and Meeks, all of it is about fashion. But for Cheryle and Rick Harbaugh, their business at home is a labor of love due to the special needs of their children.

The Harbaughs run Irlen Center Albuquerque, where they tried to individuals Irlen Syndrome, a visual processing disorder that significantly impair reading and depth perception. They learn firsthand about Irlen Syndrome when their 22 year old son, David, was tested in second grade reading level. "I see a testing center in Texas and brought site," said Cheryle, where the child is diagnosed with Irlen Syndrome and equipped for special tinted lenses that completely changed his life. Now she is able to read much easier.

"It is our children who inspired us to train for Irlen Syndrome test and then become diagnosticians, making the lens here, in our house," Rick said, adding that they not only have a home business but a means to help people another, in which he and Cheryle visitors. "We love what we do and even go out and do a lecture on the subject," said Cheryle.

The Harbaughs tried more than 4,000 people in the last 15 years of business, while their son, now 37, and their daughter, Tracy Drager, 34, helped to promote the family business to anyone they think might benefit.

5. Setting Down Time

"We are 8:00 to 15:00 every day, then we close so we could spend quality time with our children," said Kim Welch, who, with her husband, David, Orange County, California based distributor for yourself Advisor, an online greeting card companies to sell physical cards (not e-cards) that can be ordered and shipped quickly for all occasions.

Kim and David, married for six years, always wanted to work together. They make their dreams come true when they convert a spare room into an office almost a year ago. "Basically we have guests work together, but we found the hardest part is off," said Kim. "The kitchen is 10 steps away from the office, so it's easy to keep running to check e-mail or make something work related. So we came up with the 3-hour rule-shut-down, which allows us to visit family time with our kids (ages 5 and 3 ½). "Sometimes we do some work after the children were asleep, but other times we did not. Business is important, but so is the quality time with the family, "said Kim.

6. Specific workspace, or Two

Of course, before you run a family business from home, you need to set up an area in which to work, one that has adequate ventilation, electrical outlets, internet service and proper lighting.

For families like Siegals and Kim and David Welch, the home office can mean an extra room or use a part of the kitchen, dining room or living room. However, for the Hoys and hip-T Enterprises Kelley and Christine, more space is needed.

"We each have a small home office," Kelley marking dual-household business. "However, I was turned into a warehouse loft where the girls helped us label, package and ship orders." The Hoys changed their 1,000 square feet of loft office where children can operate. They also changed some extra space in their room at the office - maybe for some peace and quiet.

The Harbaughs, they convert part of their home of 4,000 square meters, located Rick tools and valuable work area, with their own Irlen testing and diagnostic centers. Rick then build their own separate tool shed.

These are just five of the growing number of examples of family businesses do work from home. By understanding why every tick, duty, respect the strengths of each other and able to compromise, seek input from all, downtime dedication, doing something you love, and - of course - has a well-chosen space in which to do all of the above , the visitors also work and live with your family under the same roof.

Thursday, April 25, 2013

Questions to Ask on Your Interview MBA Admission

MBA applicants spend a lot of time practicing their response to any questions they might face interviews go. What many do not realize that the questions they are asking for the same business school can say. "Fit is important, and interviews to assess the present," said Kurt Ahlm, associate dean for student recruitment and admission at the University of Chicago Booth School of Business. "It's a lot of schools to find out about an applicant because it is about finding the applicant about the school." You can not ask a question of time. You have to put some thought to it, according to members of the admissions committee of leading business schools. "We want to see the candidates used the question to show a genuine interest in the school," said Christine Sneva, executive director of admission and financial aid at Cornell University Graduate School of Johnson Management.Asking about the direction and vision for the school for several years to future will tell the interviewer you imagine what life is like for you on their campus, said Sneva. The same is true, he added, the question of whether the interviewer may want to be near the school, and what he did then of course delight work.Of, questions about living close to campus will only work for people still living in the area. Knowing a little about who you are interviewing appropriate. Applicants should tailor their questions to the students, alumni, and administrators, who all conduct interviews for a variety of schools, said Richard Lyons, dean of the University of California at Berkeley Haas School of Business. Lecturer owe you a good answer, he adds.In fact, Lyons said applicants must submit "a powerful question," the response has been to offer guidance on whether it is the right school for them. Three of the questions he should ask the applicant: 1. Is the school's mission and culture of any distinguishing characteristics? 2. What percentage of my classmates chose to work close to or after graduation? 3. Can you give a concrete example of how experience affects the location of the school students? People mistakenly believe that there is no way to mess this part of the interview. Ask for feedback that can easily be found on the school website or the minimum amount of research to tell the interviewer that you have done your homework, says Ahlm.Knowing interview format is also useful, and Schools and is expected to explore the basics before you sit down to chat. Some administrators do not mind if you skip the question all together. "Do not ask to ask just one," said Ankur Kumar, MBA director of admissions and financial aid at the University of Pennsylvania's Wharton School. "There is no penalty for your work done." However, most of us have only so much you can learn from websites and other sources. They would prefer that the applicant take advantage of the opportunity to dig deeper into the experience that they have to register. "Applicants may feel like they know enough," said Sneva. "But you do not quite know until you're here." Follow the Forum discussion on the Bloomberg Businessweek Business School, visit us on Facebook, and follow on Twitter @ BWbschools.

Tuesday, April 23, 2013

In-App Purchases: Do not Let Your Children Make Apple Rich

Apple's agreement to pay class-action lawsuit about in-app purchases and patronage by children parents.As brought sighs of relief to many parents of two children (one is six and is fully digital capable of wreaking havoc, two years is still relatively harmless), I can sympathize with the complaints: their arguments Several kid-friendly apps have in-app purchases available for parents do not know about. Do not think twice about letting little Timmy or maybe Funwords Trisha play Deluxe (an app I just made up, but you know what I mean). Little did they know that once they download for $ 1.99 and children are left alone here, this game offers the option to open up a new level for 99 ¢ a pop. Just click here and payments are automatically sent to the credit card on file with iTunes. So easy! Apple (AAPL) will return the money to the family finances eroded by excessive in-app purchase. Kind of reminds me of when the kids call the 1-900 number and rack up exorbitant charges on your phone bill for all the family "entertainment services" they do more told.All calling.So Parents can take steps to avoid such a fate : If you have an iPhone or iPad, go to Settings, then General, restrictions. Turn restrictions (you need to create a PIN for Timmy can not undo your work) and then turn off In-App Purchases under the heading of Content is permitted. You can also adjust the parameters, such as whether your child may have access to iTunes, camera, or Safari Web browser.Then can let Timmy or press Trisha go 'to their hearts content while you can relax in the knowledge that your wallet is not dependent of one extent that they can be opened.

Thursday, April 18, 2013

Bloomberg View: The Right Way Forward on Climate Change

President Barack Obama told the nation that he was prepared to "act before it is too late" and the fight against climate change by the White House If Congress does not want lawmakers made lead.Given can not agree on a landmark agreement cap-and-trade even Democrats controlled both the Senate and House of Representatives, congressional action this year unlikely. The government should move forward with its own.Over last two decades, the U.S. has made significant progress in reducing carbon emissions. And last year, pollution from energy use fell to its lowest level since 1992, according to the U.S. Energy Information Administration. However, the U.S. accounted for about 19 percent of all emissions that cause global temperature rise, sea level rise, and the devastating droughts, floods, and hurricanes, according to a government advisory panel released only way to get past month.The significant weight to limit the emissions of more than 500 existing coal power plants, which spew about 2.2 billion tonnes of carbon dioxide each year, more than any other U.S. sources. The transition will not be not easy, given the steep resistance from the coal industry and many congressional patron, said carbon limits will increase the price of electricity and distract the U.S. economy, and make the power grid less reliable.It likely, however, to take the coal industry concerns into account. The Natural Resources Defense Council proposed setting individual state budgets for carbon emissions, coal plants to get a little higher distribution-1, 500 pounds of carbon per megawatt-hour of natural gas. The Environment Protection Agency may operate in the country to establish an overall limit on carbon emissions and then allows the local government to find out how to get there the model area for ozone and other pollutants. And in formulating the rules, the agency can empower the industry to the table, as is the case when working with automakers to design fuel efficiency standards.The administration must continue to push efforts to encourage energy efficiency, which can be extremely reduce emissions, and consumer electricity bills by making energy sources cleaner and more productive. The White House needs to accelerate its own efforts to create tools and equipment such as walk-in freezer is better. Delay of monthly consumer expenditure and business $ 300 million in savings and add 4.4 million metric tons of carbon into the atmosphere, according to the American Council for an Energy-Efficient Economy. In his speech, the President brought some other ideas: divert some of the oil and gas drilling for research on alternative-fuel technologies, and to make permanent the tax subsidies for wind and solar power. While looking for ways to help the renewable energy like solar and wind to compete with fossil energy provides embedded essential, Obama's ideas would require congressional action. The White House must find other ways to boost clean energy, including by continuing to attempt to shift the Department of Defense, the nation's largest energy user, the first use of the term cleaner sources.In Obama , EPA issued a rule to limit emissions of mercury, updating Boiler, and clean power plants in general. As Congress continues to age sclerosis, Obama's rule making remains the most powerful tool for reducing greenhouse gas emissions.To reading Jonathan Mahler about why boxing and Simon Johnson died in megabanks, visit: Bloomberg. com / viewing.

Sunday, April 14, 2013

bankers and deal makers set their views on Africa

One night in July, Lazard banker Matthieu Pigasse Congolese capital Brazzaville trying to get the last ferry on the Congo River to Kinshasa meeting. In September, announced that Pigasse, Lazard advised on some of France's biggest transactions, including the merger of $ 50000000000 made utility GDF Suez in 2008, will go to the team which now number a dozen bankers to focus on mergers in the region. "The new frontier," says Pigasse. "Potential M & A market will grow substantially in the coming years." Banks including Citigroup (C), Barclays (BCS), and Standard Chartered (STAN) also expanded their presence in Africa. Africa has emerged as the second fastest growing region of the world, after Asia and Latin America and Eastern Europe continues, according to Barclays. The International Monetary Fund estimates that sub-Saharan African economy to grow 5.7 percent on average this year, and the area is home to nine of the 20 fastest growing economies. "Being first is a huge advantage," said Crispin Osborne, who oversees African investment banking operations of Barclays London and plans to hire on-the-ground investment banking staff in East and West Africa this year. The number of private equity transactions in sub-Saharan Africa jumped 19 percent, to 43 deals in the first nine months of last year, reports emerged Markets Private Equity Association. In China at that time, with 179 transactions, 17 percent decline, while India has decreased 29 percent, in 154 deals. In November, Carlyle Group made its first investment in sub-Saharan Africa, to join with the other supporters to put $ 210 million in the agricultural supply chain enterprises Export Trading Group, Tanzania. "We see as sub-Saharan Africa where China was 15 years ago, and we want to be one of the first ones there," said Genevieve Sangudi, Lagos (Nigeria) based Carlyle managing director and investment areas fund.Many takeover private equity in Africa's natural resources and telecommunications. Also the interests of the consumer and retail sectors in the region rose as investors seek to profit from the rising middle class. "Every corner of the world's consumers want to play in Africa," said Brian Smith, who oversees investment banking in sub-Saharan Africa from Johannesburg to JPMorgan Chase (JPM). Big banks that focus on Africa because they are reduced in Latin America, Asia, and the Middle East region as seen emerging market boom a few years ago. Citigroup last month announced plans to eliminate 11,000 positions in countries from Pakistan to Paraguay, but said 1300 employees based in African countries including Nigeria, Uganda, Kenya and not be affected.Still, pursuing African Bank offers long-playing games. Cost of investment banking in the region reached about $ 305 million in 2012, according to research firm Freeman & Co., Doubling of a decade ago, but still only a third of those who are paid at the same time in Italy., With less than one-tenth population. Banks also have to contend with an unstable stock market and a new politics born to say nothing of the lack of basics like roads or power grid reliable. Lazard said Pigasse airline service between African cities are very limited once he had returned to Paris to switch between capitals neighboring African countries. Outside South Africa, the port, internet access, and delivery is often unreliable. And even some of the government to tackle corruption and transparency, many investors still shy away. "Africa has a lot to do with education, infrastructure, the justice system," said James Tidmarsh, a Geneva-based lawyer who raised funds for mining projects in the Middle East and Africa. "If someone owes you money, you get money." Pigasse did not let it stop him. "Given the growth prospects," he said, "we have to be there." Bottom line: With the growth of 5.7 percent and nine of 20 in the world's fastest growing economies, sub-Saharan Africa is attracting bankers and deal makers.

Tuesday, April 2, 2013

Bubble U.: High Point University

(Clarification: An earlier version at High Point University mischaracterized the use of derivative financial instruments that use derivatives only to hedge interest rate, not for investment purposes) in a small electric train we draw away from the reception building, clear High Point University campus looks like nothing any of us had ever seen. The pipe in classical music drifts fresh flower beds planted as a guide for students, piloting a golf cart-style "machine," tows our group of six kids and teens past the statue of Aristotle, Galileo, and Jefferson. He parks in front of the Plato S. Wilson School of Commerce, and we hiked for a tour of the building. Opened in 2009, it is equipped with marble floors, full size such as financial trading floors, and a class with row upon row of computer aided design console. Children's eyes' pop as the tour continued, with visits to the cinema display, steakhouse, and a dormitory with a plasma-screen TV and outdoor hot tubs.Nothing like this was here seven years ago, when Nido Qubein, a multimillionaire and Motivational Speaker , became president of what the sleepy little Methodist college. 

It Qubein who launched an effort to change the school 88 years into a nationally recognized institution. Some $ 700 million was spent to repair and expand the campus. Admission to 50 per cent, in 3700, although the college and the room and jumped 60 percent to $ 37,800 per year. The average students' SAT scores went nearly 10 percent. Photo by Mark MahaneyThe High Point campus, $ 700 million and then "The world is admiring how High Point University has grown so successful in the midst of the worst economic conditions in 54 years," Qubein said. Since becoming president in January 2005, he raised about $ 159 million in gifts and promises, and pledged to kick in $ 11 million of his own money. Many more to come: new dormitories, health-sciences schools, pharmacy colleges, sports arenas all told, a $ 2.1 billion planned improvements in 2020. All this in the midst of depressed factory town of North Carolina. John Nelson, head of higher education ratings group Moody's Investors Service (MCO), said that in 20 years as an analyst he does not see institutions like High Point. "It's more like a growth company," he said. Moody's debt rating downgraded to junk status at the university in 2009 as running some $ 165 million of debt to be one of the best high schools in the country. "The rate at which they borrow and the aggressiveness of the marketing investment in facilities and the campus," said Nelson, ready for High Point apart.Along with neoclassical campus impossible, Restoration Hardware version Yale, High Point Market Mapping Nido Qubein story. Raised in Jordan, he emigrated to the United States in 1966 as a teenager with, as his official biography says, he graduated from the "little knowledge of English, contacts, and only $ 50 in his pocket." High Point and has a rich speaker, consultant, and investor. Sitting in his office under the American flag and a map of the greatness of the campus, talk Qubein create a "paradigm shift" to higher education. Increased campus intended "to create an environment where [students] aspires to be outstanding," he said. "High Point is not swimming in a sea of ​​sameness." Qubein believe students are more inspired by the comforts of a luxury resort and see High Point as a way to prepare them for lifelong success. "I want my kids going to deal with things better," he said. "Most parents do." Photo by Mark MahaneyLacrosse skills to the new track and field facilityThere about 1,600 private colleges and universities in the U.S. fewer than 100 are considered "medallion" institutions with rich endowments, very selective admission, and faculty superstar. Some others, including High Point, lacking much, if not all, of the features and struggled to distinguish themselves academically. Only a rare break from the pack to reach elite status, and usually requires effort in decades, says Kent Chabotar, president of Guilford College in Greensboro, NC, and an expert in the field of higher education finance. "Reputation," Chabotar said, "take forever to change." Want Qubein encourage greatness High Point in just a few years. Details of the plan resembles some high-risk behaviors who blew the investment bank in 2008. He followed a strategy known among higher ed as a "dormitory" or "field of dreams" approach. He borrowed tens of millions to build an upscale hostel, use the new facility to attract more students, and then use their bills to pay interest on the debt and took over construction. As debt ballooned, he got waivers to avoid debt covenant violations, according to Moody's and Standard & Poor's. He stormed skinny schools $ 46 million to buy real estate immortal, among others, the university now has a half-empty shopping center and former Methodist retirement community converted to student housing. Former university leadership "hung on the money," he said. "That's not how this business. Money follows ideas. "For the numbers add up, High Point needs of thousands of children from rich families who need some financial aid and can pay top dollar for luxury accommodation. Elements of a make-or-break from university Qubein the 21st century, in other words, the cash flow. Qubein compact, white-haired 63-year lawsuit deliciously dark silk tie and vividly colored. In front of an audience, he moves a dancer's grace, gliding stage, spun on his heels, lunged forward with outstretched palms. With the rise and fall of his voice lightly accented, the impact of a winter morning captivating.On end, he had the attention of an auditorium full of parents. To motivate their children to enroll, High Point offers the opportunity to compete for scholarships ranging from $ 700 to $ 20,000 per year. To enter the competition, though, the children and their parents have come to a high point for weekend.Photograph with Mark MahaneyA High Point (NC) Highlights: Picture flash site campus dresserAs a screen behind him, Qubein explains luxurious facilities babysitting children in and out of the campus. The campus is "an extension of your own home," he said. Itself Qubein teaches a required student seminar on "life skills" such as dressing for a job interview and write a business letter. "Choosing a college for your child is not just a decision," he said, clutching his fist on his chest. "This is a commitment, and dedication to work with heart and soul, not the brain." Preaching is more than words, the sense that, since Qubein introduced to public speaking Baptist church eastern North Carolina. In 1966 he enrolled at Mount Olive College, a two-year Baptist school trip a few hours east of High Point. Remember former classmates that he spoke English and came to the property does not exist, because the goods were lost in transit from Jordan. His Horatio Alger story has some holes in it, though. He came from a prominent Christian Anglican bishop uncle Jordan and countries both brothers graduated from Duke University in Durham near. Is one of the graduate school at the University of North Carolina at Chapel Hill when Qubein came to Mount Olive 17.Mount age then president, W. Burkette Raper, took a shine to Qubein and took him to hear sermons in the local Baptist church. She helped him to earn money by providing conversations about growing up in the Middle East. Raper also lined up a local anonymous donor to help pay his tuition, Qubein said action inspired him to become a philanthropist who donated millions of civic organizations and scholarship funds. After completing the two-year program Mount Olive, Qubein moved to High Point, graduating in 1970.He began traveling extensively as a freelance speaker, gave a talk called "Young America: A Sleeping Giant" at civic club meetings and trade groups. "I have a tuxedo. They would pay me $ 200, "he recalls. Company executives who overheard the conversation and offers better performance in terms of company-paid. His speeches now commands $ 20,000 and up.When he lived in High Point, Qubein buy real estate and invest in a bank that was founded by a local businessman. It was absorbed in 1995 by BB & T (BBT) in Winston-Salem, one of the Southeast's largest bank, Qubein was invited to join the board. "Nido stands as a dreamer. He asks the right questions in the strategic direction, and he is a world-class faculty, "said John Allison, former chairman of BB & T. In addition to payment of directors, Qubein awarded a contract to teach in the BB & T Program training, reaching the $ 400,000 per year since 1993. The bank said it will continue teach.BB & T has been a major source of university funding, guaranteeing four bond issues since 2006 and gave tens of millions in loans and lines of credit. Christopher Henson, point High alumnus as BB & T's chief operating head, the university board of trustees. Join Qubein board High Point superintendent in 1993. When the old university president announced plans to step up in 2004, graduated Qubein proposed as his successor. Even as he raised the point of high profile, Qubein and his family have benefited from the rapid growth of the school. Base salary of $ 598,000 puts him in the top 10 percent of 519 private institutions surveyed by the Chronicle of Higher Education's president last year. In 2010, according to the annual High IRS filing period, he received a deferred compensation package that increases his salary to $ 1,380,000. IRS filings show the university paid nearly $ 1 million per year in public relations and business consulting family, now led by 28-year-old daughter Qubein, Deena Qubein Samuel. Qubein said the school maintain relationships arm's-length with the company, and that his salary will reflect the "market price" for the improvements it provides. High Point almost the first university to try to buy your way to greatness. A century ago, John D. New University of Chicago Rockefeller vaulted into elite status by spending large academic poach talent from competitors. In the 1980's and 90's, Emory University profiles significantly improved by using a $ 105 million gift from Coca-Cola shares (I) to pay for endowed professorships, scholarships and research programs. But there is no history of the school as the steps to spend so much just in the dorms and classrooms, said Richard Staisloff, Baltimore-based consultant in higher education management. "There is a package of academic quality," he said. Qubein university plans a lot about urban renewal on academics. City of High Point, was once a center for the manufacture of furniture and stocking manufacture experiencing economic collapse in the mid-1990s when the industry decamped to Asia, leaving hollowed-out industrial parks and neighborhood bungalow and farm house sink into disrepair. Qubein and High Point University community leaders bet could be anchor tenant of the local economy revitalized. "We need something in High Point to get this town and kicking again," said Mark Norcross, a former furniture company owner who gave the university $ 2 million and has recently committed $ 10 million more. Like most of the donors, he attended university. Norcross said Qubein sit with him in 2005 and sketched plans for a campus on a piece of paper. "He said, 'This university needs a face-lift, or can get the right clients'" - "client," that is, school family.The new students as part of the campus, the company part theme park inspired by traveling as Qubein consultant and speaker. "I was exposed to some of the best equipment in the world: corporate offices, convention centers, airports though," he says.The university has about 700 houses, the main house rent slip, the surrounding environment, and has destroyed most of them, even if no plans to develop the property. "I call urban cleansing," Qubein said. Many houses are used for charter students, universities are now encouraging students to stay in dormitories by prohibiting them to rent housing around the campus, including $ 20 million makeover neighborhoods.The Nido R. Qubein School of Communication, is a television studio, a glass-walled suites for video game design, and luxurious rooms, reading, shelves stocked with multiple copies of the book to the president (written over a dozen) and tape Motivation. Glass display case won.There trophy he still treasures in High Point, and found proficient Qubein. Some factory owners reap millions by selling before the exodus begins, the others moved their factories overseas. Dealers Bentley High Point only between Washington, DC, and Atlanta still under business.Donors also given U.S. $ 12 million worth of property, of the abandoned warehouse from a set of 300-piece Villeroy & Boch china and crystal Riedel said the university used a woman donate home country "to ensure that our students are exposed to high-end glasses.", the university is built on the basis of the ropes course. However, a gift that covers less than 15 percent of the $ 700 million spent so far, with the remainder financed by loans and student fees. Tens of millions of promised donations are still circulating, with some earmarked for future projects, such as pharmacy graduate tough times school.Economic given High Point University as a marketing advantage. Net beats school campus reduce maintenance and repairs during the downturn. Many public institutions have jacked into teaching and limited due to the state budget cuts.Qubein take a chance. He has more than doubled the staff entrance, and a $ 500,000 print run TV ad campaign in North Carolina, and the registrar sent to hundreds of high schools in the countries of Northeast and mid-Atlantic, which now account for more than half a Point students. High advertise a flat fee of $ 37,800 for tuition and room and board, parallel to a nearby private college. But the dorm room at an additional cost which can lead to a total of nearly $ 43,000, with room and board costs as 40 percent above the national average for private colleges.Qubein and university officials agreed last year to cap debt at $ 165 million and change variable-rate loans to fixed-rate debt. However, we never worried guardians that the school took over the head. "I strongly believe that you have to spend money to make money, and that's what we did," said Bob Stout, a retired local businessman who served on the board. "As a credit provider, we are definitely convenient," said Henson, BB & T COO at High Point pay trustee.Nor family business Qubein raised eyebrows. Former board chairman says Marsha Slane seeking bids from competitors, and the proposal of the daughter Qubein "are the best deals." This family business consists of consulting firm established in the 1990s Qubein and a public relations firm where he previously served as chairman . The two companies merged and is now owned by three adult children, his eldest daughter to serve as CEO. Qubein is still listed by the North Carolina Secretary of State as the registered agent for the business: "error reporting" university spokesman said Jack Siegel, a Chicago-based attorney who specializes in nonprofit leadership, nonprofit he advises clients to do business with for- profits associated with their directors. While not illegal, he said, they could draw scrutiny from the IRS, which in some cases they determined the amount of additional compensation for official nonprofit. "Unless the service is truly unique, you'd better not use family members," Siegel says.The director of BB & T together with the "problem" as well, said Siegel. Should university having trouble with loan payments, "you've got an incredible conflict of fiduciary duty," Qubein sit on the board of the bank and Henson at the university. Qubein and Henson said that BB & T in providing loans to college with ease by a subsidiary of North Carolina. Either Henson or corporate boards that serve Qubein involved in dealing with the child client company, they claim.How the university has helped the rise of the city High Point is not clear. While it adds hundreds of employees, including professors from the guard, and a construction boom create additional temporary jobs, study shows economic benefits of local colleges and universities often exaggerated, in part because these institutions do not pay taxes. The High Point Economic Development Corp., a group of local business promotion, said the university pumps $ 418 million per year to the local economy, although the annual operating budget of just $ 77 million.City school leaders do not seem to entertain the idea that the plan may fail Qubein. "He never let that happen," said Mayor Rebecca Smothers. "He may be taking a risk, but he does not take stupid risks." In a beautiful new building, High Point seems to do pretty much what you did before: teaching children with moderate overall academic record small classes with teachers generally good and sometimes besar.Ruangan expanded curriculum, including new majors in mathematics and economics and international relations courses in Russian and Arabic. Instructors can apply for grants to purchase equipment or hire research assistants, no funds are available before Qubein took over. "I went here because of the culture," said Daniel Erb, who was recently recruited from Duke as the new dean of the school of health sciences. "There is a can-do attitude." "Professor I always take the time to meet with students outside the classroom," said Alan Albergaria, a junior from Rhode Island, sitting in a hot tub outdoors The $ 19,000. 000 Village complex Greek fraternity and the student that opened last year. "With all the amenities, schools will not be Beat." However, High Point derailed by some traditional academic measures. Percentage of teachers with a Ph.D. or other terminal degree dropped three points, to 69 percent, while the student-faculty ratio has crept from 15 to 1 to 16-1 since 2005. Appointed faculty pay has not kept pace with those top schools in North Carolina. Administrator says Rush charter new teachers for the rapidly growing enrollment accounts for some slippage.What about SAT scores, which jumped to an average total of 1100 for reading and math, up from 1,023 in 2005? One possible reason is the sharp decline in black enrollment, from 24 percent in 2005 to 5.8 percent in the current freshman class. Nationwide, blacks score on average 200 points lower than whites on Sat. (A spokesman for the High Point said the decline in black enrollment "does not explain the increase in our SAT scores," which he said resulted from enrollment to more students with high scores, and less with low scores) student body. not only white, the better. Scholarships were slashed and now only covers an average of 15.9 per cent of the teaching is less than half the rate for private colleges across the country. "Yes, we may have more students in many schools that do not require financial assistance," Qubein said. "If we apologize for? Parents Not much study, the acute financial, they are more intelligent. "The University is very popular among parents who supported her immaculate propriety. Although not implemented, there is a dress code that is quiet. Students maintained, no body piercings or unusual hair color proof. "If you go to class in sweatpants, you will find the place," said Alexa Crawford, a student from California. High Point will be the only college in the United States without a piece of paper stuck on the wall where it can express protest or a movie or used books for sale. They forbidden.Some Qubein most ambitious project is not true. With enrollment expected to grow to 5,000 over the next three years, cash flow may loose to cover the payment of debt of approximately $ 77 million at the time. But there may not be enough money to pay for big-ticket items such as the previously announced $ 70 million building for the school of health sciences. Instead, it may end up to space in shopping centers. Qubein said the "state-of-the-art, NBA-type arena" once planned for 2014 deferred indefinitely.Even if Qubein avoid financial disaster, he left High Point sold now a school with academics OK, wrapped in expensive college kids dazzling rich and entertaining extras. Qubein quietly recognized as he wrapped up his pitch to parents. Move to the edge of the stage, he took a bag of Hershey (HSY) Kisses and a box of Godiva chocolates. Hershey candy costs about $ 4, he tells the audience, Godiva, $ 40. "Both are great," he said, "but only one is superbly located. Presents itself in a way that people will find compellingly good. "He leaned into the audience, Godiva box in the palm of his right hand. "Is not that what you want for your child?"