Thursday, July 18, 2002

Morning Memo


Hot tips and news to start your business day

Today's Number: $2 billion

        How much Atlanta-based Home Depot plans to allot for buying back its stock — its first buyback since going public in 1981; at $30 a share, that would be about 67 million shares.

— The Associated Press

Today's Mover

        Cassandra G. Riley of Al Neyer Inc. has been re-elected president of the Greater Cincinnati Chapter of the National Association of Women in Construction. Ms. Riley has worked in the construction industry since 1979 and has been with Neyer for four years.

— Shirley Dees

Today's Career Talk

        In Lessons from the Top: Success Strategies from America's Leading Black CEOs by Derek T. Dingle, Mel Farr Sr., a former football star who would become an automobile magnate, realized that there was no easy way to the top. “Most entrepreneurs want to jump into a new business before they spend time learning it,” he said.

        “I received a seven-year apprenticeship before I got my own dealership. I learned all the basics. I sold cars. I worked in the body shop. I took all of the retail classes and seminars,” he said. “I got an overview of what it takes to make a dealership work.”

— John Eckberg

Today's Money Tip

        A stock's beta is the measure of its volatility. Specifically, it measures the average percentage change in the price of a stock relative to the percentage change of a market index over a specific time.

        Generally, the higher the beta, the more volatile the stock.

        A beta can be negative when the stock declines as the market goes up or vice versa. Risk-free Treasury securities have a beta of zero.

— Amy Higgins

Today's Company: Baroque Violin Shop

        Tuning Up The Tristate: Finneytown schools' orchestra director Paul J. Bartel founded this business in 1973. The shop stocks professional and student-level instruments, rents thousands of instruments to fledgling string players, and provides educational support to Tristate teachers.

        Duet: Baroque Violin Shop now has a location in Dayton, Ohio, as well as in Finneytown, and employs 12.

        Cremona Connection: Several years ago Mr. Bartel formed a connection with Cremona, Italy, the modern-day mecca of stringed instrument craftsmanship. For the past several years Baroque Violin Shop has been a stop on the annual Cremona Exhibition tour, which features top-quality violins, violas and cellos.

— Jenny Callison



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