Thursday, October 10, 2002

Morning Memo

Hot tips and news to start your business day

Today's number: 597,000

2000-02 Chevrolet Tahoe, Cadillac Escalade and the GMC Yukon and Denali sport-utility models that are being recalled by General Motors Corp. to help protect customers from pinching their fingers when second-row seats are being folded down.

— The Associated Press

Today's Career Talk

When something breaks, fix it fast, Tom Richardson and Augusto Vidaurreta suggest in Business is a Contact Sport: Using the 12 Principles of Relationship Management to Build Buy-in, Blast Away Barriers and Boost Business. “Acting quickly keeps resentment from building up,” the authors contend. “Working to fix the problem shows you value the relationship and the sooner you fix the problem, the sooner you make the other party whole and limit the damage they suffer.”

— John Eckberg

Today's Money Tip

Starting to save early is more important than saving a lot. Consider someone who saves $2,000 a year only between the ages of 17 and 20 and that $8,000 grows at a historically modest 7.5 percent will have $250,000 at age 65. So will the person who starts saving $2,000 a year at age 36, but that person will have to keep saving until they're 65. Starting early also provides time to recover from bear markets.

— Amy Higgins

Today's Mover

Nancy Jo Buck has joined Strata-G Communications as media buyer/planner. Ms. Buck graduated from Metropolitan State College of Denver with a bachelor's degree in international marketing. She has three years of experience in advertising and media buying and planning.

— Shirley Dees

Today's Company: Performance Plastics

Great Performances: This Oakley engineering firm was established in 1982 by Per Flem. Since its purchase five years ago by Tom Mendel, Mr. Flem has continued with Performance Plastics as a development engineer. The company teams up with creators of high performance plastics to create plastic compounds for specialized applications. Customers are mainly in the automotive, medical and defense industries.

Plastic Power: High performance plastics are those that are extremely strong, perform at high temperatures and are impervious to virtually all chemicals.

Accolades: Performance recently won an “Excellence in Design“ award from Modem Plastics, a plastics industry trade journal. The magazine cited the company's “innovative thinking, engineering know-how, creativity, and the enlightened use of plastics.“

Superior Substitute: Using a special compound of high-performance plastics, the company developed a gear for race cars that is more durable and 80 percent lighter than the metal gear it replaces.

— Jenny Callison

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Business digest
Business summary
- Morning Memo