Tuesday, July 8, 2003

Morning memo



Today's money tip -- To "sell short" is to sell securities that you don't own but have borrowed from your broker. The idea is to later return the shares to your broker by buying them back at a lower price. Your profit, then, is the difference between the sale and repurchase price.

--Amy Higgins

Today's career talk

Sometimes, the college course you hate might be the college course that eventually takes your career far beyond your dreams, Alec Klein says in his book Stealing Time: Steve Case, Jerry Levin, and the Collapse of AOL Time Warner. "Steve Case had taken Computers 101 in college and hated it," Klein said. But when a brother's business chum offered a consulting job for a start-up online video firm, Case was all over it. "The job paid $20 an hour for a total of $9,000," Klein said. "Case promised to stay in cheap hotels and fly special coach."

--John Eckberg

Today's mover

John Harrison has been named director of interior design at Closson's. Harrison has been a Closson's interior designer for more than six years. He has worked as an interior designer in Cincinnati for most of his 40-year career. The New Zealand native studied design in Australia and England. He takes particular interest in teaching designers just beginning their careers.

--Shirley Dees

TODAY'S COMPANY: ARNOLD PRINTING

PRESSING ONWARD: In 1910, Earl D. Arnold Sr. started his print shop in a garage with one small press he bought from a church. By the 1940s, the company had grown into a letter press printing shop located at Third and Main streets in downtown Cincinnati. It's now housed in a 30,000-square-foot facility that encompasses prepress, printing and binding capabilities. Arnold's costing, inventory control and billing functions are computerized.

RUNNING COLOR: Based near Lunken Airport, Arnold is a commercial sheet-fed printer that serves clients in a variety of industries. It produces such high-volume products as multi-color catalogs, brochures and direct mail pieces, most of which are run on its 40-inch Komori press.

INCENTIVES FOR EXCELLENCE: As part of Arnold's Continuous Improvement program, the company tracks its staff's performance based on measurements of quality, on-time delivery and productivity. Employees are rewarded when performance standards are met or exceeded. Currently the company is implementing Barnes and Dennig's Strategic 8.4 process to help it focus on cost control and improve profit margins.

--Jenny Callison




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