At least Allen Zaring still has his sense of humor.
Last week's surprise announcement that his Zaring National Corp. was abandoning a new business line after only two years and a $10 million investment left "a little egg on our face," Mr. Zaring acknowledged.
Zaring plans to sell its HomeMax subsidiary, a retailer of low- to moderately priced manufactured houses.
"I'm feeling a little embarrassed about HomeMax, but at least I'm honest," he said.
The introduction of HomeMax in 1996 was itself a surprise. Zaring billed it as a new direction for the 34-year-old builder. At the time, Zaring officials said HomeMax eventually would overtake the company's high-end-home business.
Mr. Zaring compared the company's decision to Provident Bank's recent announcement that it, too, was embarking on a cost-cutting program and abandoning one of its highly touted non-traditional businesses, the MeritValu frequent shopper program, after spending millions to launch it two years ago.
"I guess Provident Bank is getting back to basics. Getting back to basics seems to be the buzzword when everything goes wrong. Not to be too trite, but we're getting back to basics," Mr. Zaring said.
Ursula Miller
Re-Tales of the West
The acquisition of Mercantile Stores by Dillard's has created a web of loose strings. Among them: What of the former McAlpin's store in Western Woods, recently vacated when the retailer moved up the road to the developing Western Woods Mall?
The former site at Western Hills Plaza still has six years on its lease with property owner Mills Corp. Mercantile execs have said they intend to honor it. Now it is Dillard's problem.
"We're working with the landlord on that store that we moved away from," said Wes Cherry, vice president of real estate at Dillard's. "We are hoping to have it resolved real soon."
Rumors have surfaced that Dillard's would close the west side store, but so far they are unfounded. Sales per square foot at the store in 1997 exceeded the company average of about $180 a square foot by 20 percent, Mercantile officials have said.
Lisa Biank Fasig
Grass root beer?
Amid the barrage of political yard signs on Cincinnati lawns this fall comes a faux version by BarrelHouse Brewing Co.
The Over-the-Rhine brew pub is comparing its advertising campaign for its $2.5 million public stock offering to the political races of Taft, Fisher, Qualls, Chabot and the Broadway Commons stadium backers.
"We're targeting local beer lovers and the Cincinnatians who want to support a local Cincinnati business," David Rich, president of BarrelHouse, said in a press release.
The yard signs tout the offering and give a phone number for more information. Small print at the bottom carries boilerplate warnings about investments carrying risk and advice to investors to rely only on information printed in the offering prospectus.
Perhaps those political signs should carry some warnings too.
Ursula Miller
Der Wrecking Ball
In town recently for the World Affairs Council annual luncheon at the Omni Netherland was Josef Joffe, editor of the Suddeutsche Zeitung, a daily Munich newspaper that is (we're told) not unlike the Wall Street Journal.
Mr. Joffe commented on what's going right and wrong with European unification, and how the Clinton administration produces more and better jokes than any regime in Europe.
And, just to show how fast visitors catch on, he drew parallels between Cincinnati and his home, Munich. They're sister cities, after all, both with major Oktoberfests and twin neuroses.
"We have a perfectly good football stadium, and so do you," he said. "And both cities insist on tearing them down and building new ones. So, I feel right at home."
John J. Byczkowski
Items for Tipsheet are gathered by Enquirer business reporters and compiled by Lisa Biank Fasig of the business staff.
