Monday, August 13, 2001

Morning Memo

Hot tips and news to start your business day

        Today's number: 600 - Independent producers that pump the bulk of Pennsylvania's 1.5 million barrels of oil each year, making up about a $40 million industry.

        Today's money tip: Here are some of your adversaries as you attempt to control your spending, according to Personal Finance for Dummies, written by Eric Tyson:

        Ignoring your financial goals when buying. When was the last time you heard someone say that he decided to forgo a purchase because he was saving toward retirement or a home purchase? Doesn't happen often, does it? “Just dealing with the here-and-now and forgetting your long-term needs and goals are tempting,” Personal Finance for Dummies said. “That's why people toil away for too many years in jobs they dislike. Living for today has its virtues: Tomorrow may not come. But odds are good that it will. Will you still feel the same way tomorrow about today's spending decisions? Or will you feel guilty that you again failed to stick to your goals?”

        Today's career advice: Women who hope to make a sale to men must establish their role as a business partner early in the contact by looking, sounding and acting the part, suggests Judith C. Tingley and Lee E. Robert, authors of GenderSell.

        “Keep all conversations related to business or their male clients' interests, leaving out their own stuff,” the authors advise.

        “Also, move more quickly toward the presentation or close than they would with a female customer.”

        Today's company: Batsakes Hat Shop

        GROOMING FROM HEAD TO TOE:Batsakes started in 1907 as a shoeshine stand at the corner of Sixth and Walnut streets. While continuing to shine shoes, the shop evolved into a dry cleaning establishment that also did hat cleaning and blocking. Later the owner began selling hats.

        NEW CORNER: In February owner Gus Miller moved his hat shop to the corner of Sixth and Vine streets to make way for the new Contemporary Arts Center. The new location contains the historic shine stand and scrapbooks with pictures of legendary Batsakes customers such as Tommy Lasorda, Red Skelton and Tony Bennett.

        TOP SELLERS: Batsakes' most popular items are the Italian-made Borsalino straw and felt hats, as well as Tilley casual hats from Canada. The shop continues to supply custom hats as well as doing cleaning and blocking.

        STILL SHINING: The store's shine stand stays busy. In July, a slow month, more than 800 pairs of shoes received an expert buffing from Batsakes.

        Send tips and questions to Bill Ferguson at


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