Thursday, September 18, 2003

Morning memo

News and tips to start your business day

Today's number: $6 billion

How much consumers increased their borrowing in July, up a seasonally adjusted annual rate of 4.1 percent, pushing total consumer debt to $1.77 trillion, the Federal Reserve reported.

The Associated Press

Today's mover

Neil Spencer has joined The Bank of Kentucky as assistant vice president, branch manager. Spencer will be responsible for overseeing the bank's customer service, staffing and sales functions for its U.S.42 retail banking center. He spent three years as the Boone County treasurer. Before that, he worked for nine years with Hebron Deposit Bank as a vice president, branch manager and for five years as assistant vice president, loan officer at Fifth Third Bank of Northern Kentucky. He has 29 years of banking, finance, management and sales experience. He graduated from Northern Kentucky University.

Shirley Dees

Today's career talk

Avoid the horizontal-pile system of filing at all cost. In 101 Ways to Make Every Second Count: Time Management Tips and Techniques for More Success with Less Stress, author Robert W. Bly points out a far better way to maintain records. "An article in Law Enforcement Technology (May 1998) reports that the average four-drawer file cabinet contains 10,000 pieces of paper," Bly says. "If you have 50 sheets per file, that's a total of 200 files. Therefore your average four-drawer file cabinet can hold almost seven times more files than the top of a table or desk."

John Eckberg

Today's money tip

In a hot real estate market, it's important to know how the home buying system works and the terminology that goes with it.

The World Wide Web has become a great resource where homebuyers and sellers can learn the ins and out of real estate. One site that offers tips on real estate topics is It contains property listing, financing info and home improvement tools, and more.

Knight Ridder News Service

Today's Company: Omega Design Build Group LLC

Building On Experience: Jim Mouhourtis began his career in construction management as a site manager for the Corporex Cos. Very quickly, he moved to project manager and over 19 years with Corporex and its building arm, CPX Construction, made a name for himself. He formed his own company, Omega Design Build Group, in late 2000. Omega specializes in turnkey commercial projects, especially hotel, industrial and commercial office developments.

Getting Under Way: Omega's first local project, for Norwood developer Jeffrey R. Anderson Real Estate, was the English-style Pub at Rookwood Mews, in Rookwood Commons. Other projects include the 44,000-square-foot Metropolitan Educational Training Services (METS) facility at Northern Kentucky University, Hilton Garden Inn in Columbus and several large condominium projects in Northern Kentucky and in Florida.

Fast Facts: The Kenwood-based company employs eight people and has posted revenues of about $10 million this year.

Jenny Callison

As rates rise, home buyers embrace ARMs
Getting a jump on the season
Conference can educate
Pros got a look at Cincinnati
N.Ky. bank fights to survive
RJR to cut 2,600 jobs
Auto union still working GM deal
Turban wearer claims harassment on flight
Milacron sale of unit completed
Business digest
Tristate summary
What's the buzz?
Morning memo