Month: April 2016

Editor’s Letter April/May 2016

If there are any topics discussed as frequently as politics and the weather, they just might be money and healthcare. With so many demands on our wallets, this issue should give you some insight on making the most of your money; see coverage starting on page 35. And it’s no surprise that the healthcare industry has been undergoing some massive changes in recent time; we address some common questions employers face when choosing healthcare plans on page 32. For some entrepreneurial inspiration, flip to our second annual Small Businesses on the Rise feature where we share the stories of nine local companies that have experienced tremendous growth. As Doug Roh learned upon opening Bräuburgers in 2014, you sometimes have to adjust your plans to better meet the needs of your customers. Within a few months of opening his eatery, Roh realized his customers wanted full service, so he adapted. Like Roh, the other entrepreneurs we cover—starting on page 42—should provide plenty of insight on growing a successful business. This issue also contains practical and personal advice from several individuals worth watching such as this issue’s Leading Lady Linda Jones, principal at Dominion Seven Architects located in downtown Lynchburg. Of doing business, Jones believes: “You can’t take it with you, so value people and relationships over money every time and avoid regrets.” It’s an axiom that sounds nice in theory,...

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In the News April/May 2016

BUSINESS OPENING Law Firm Rejects Status Quo With Unique Approach Relevant Law, based in Lynchburg, Va., has opened as of March. As a full-service law firm that provides legal solutions for individuals and small to midsize businesses, Relevant combines legal experience, technology and client-focused service in a way that aims to reduce risks, costs and time to the consumer. The firm is formed of experienced attorneys who have local-market expertise and legal understanding; their goal is to provide a better client experience overall. According to their press release, Relevant Law represents a modern and more sophisticated business model that...

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Financing Fundamentals

Financing is critical to the healthy functioning of the commercial real estate market. Occasionally, that long hoped for cash buyer with a suitcase full of money comes along and scoops something up, but, by and large, most commercial sales in our market are financed. While deals can fall apart for all kinds of reasons, a common reason is due to a buyer being unable to obtain suitable financing. While established buyers know what to expect on the path from contract execution, to the bank, and then to the closing table, many sales are to first-time commercial buyers. Let’s cover...

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Benjamin’s Great Cows & Crabs

April/May 2016 Let’s Do Lunch: Benjamin’s Great Cows & Crabs What to Expect: Inventive, flavorful food with an emphasis on fresh and local What to Try: “Being able to be creative—that’s my passion,” says owner and chef Ben McGehee. And that’s evident in the Southern gourmet fare you’ll find on the regular menu and the daily specials. “Business people seek us out for lunch because we’re creative—we have a distinctive menu.” Consider such options as duck breast salad or cow tongue tacos—“They’re the best,” McGehee says with a wide smile. During our visit, we sampled a heaping plate of...

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Covering All Your Bases: Tips on Structuring a 4-part Financing Contingency

Okay, so if you’re like most people, you probably haven’t spent much time reading over real estate contracts lately. Contracts which, over the past 20 years, have grown from two pages to eight, not to mention supporting addenda and disclosures. Simply making an offer on a property now consists of 25 or more pages of documents and a dozen signatures. As a prospective homebuyer, unless you purchase a home every couple of months, you are largely dependent on your buyer agent to walk and talk you through this pile of paperwork. One important aspect of any purchase contract is...

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Movers and Shakers April/May 2016

Sandy Speck—Branch Manager and Senior Mortgage Banker at Atlantic Bay Mortgage. Speck brings more than 30 years of mortgage services experience specializing in Construction to perm financing. She plans to grow the Lynchburg office by meeting the refinancing, purchasing and building needs of the community. Autumn R. Visser—Named a Principal in Woods Rogers PLC firm. Visser is a member of the Business and Corporate Law group, where she concentrates on contract drafting and negotiation, general corporate governance, and mergers and acquisitions. Visser also works on anti-trust concerns, credit union compliance matters, employment benefits, government contracts, intellectual property, licensing and real estate. Deborah Grishaw—Promoted to Vice President and Mortgage Loan Originator at Bank of the James. Grishaw joined Bank of the James Mortgage in April 2015. Her prior career was in the mortgage and real estate industry where she served as Vice President of Mortgage Atlantic, Inc. from 1996 to 2013 and was named President of the company in 2014. Grishaw is a 1989 graduate of Heritage High School and attended Central Virginia Community College. Renae Adrian—Chief Executive Officer and Lead Business Consultant of FASTSIGNS® Lynchburg. The former Artistic Administrator for the Virginia Arts Festival, Adrian brings 20 years of diverse nonprofit arts management and special event experience to Lynchburg in launching this comprehensive visual communications business. Adrian focuses her business on providing creative branding, excellent project management and high...

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Moore’s Electrical and Mechanical Builds Success Over the Decades

Our People, Our Customers, Our Communities With a vision of building a company that employees would be proud of, providing customers the best possible service and giving back to the community, Dale Moore founded Moore’s Electrical and Mechanical in 1985. The thriving company has experienced growth almost every year since they opened, and currently has 570 full-time employees. “One of the biggest things that sets us apart is the focus that we put each day on our vision,” said Andy Moore, president and CEO. “Our vision is not just words or propaganda or marketing material.” Moore, the son of...

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Physical Therapy: Rehab Delivers Injury Prevention and Recovery

Get better faster—that’s the primary reason to seek help from a physical therapist. And who doesn’t want to feel better and return to living their life sooner rather than later? We often think an injury is going to heal on its own, but many times it doesn’t. Sometimes the body needs a jumpstart to begin healing, and that’s when physical therapy and rehabilitation can play important roles in getting you back to work or play in the shortest amount of time possible. Whether you’re experiencing post-surgical rehabilitation, a balance disorder or a sports- or work-related injury, rehabilitation and physical...

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The FLSA: Impact of Proposed Overtime Changes

At President Obama’s direction via a Presidential Memorandum to modernize and streamline the Fair Labor Standards Act’s (FLSA) overtime regulations, the Department of Labor has proposed changes to the current classification of employees as related to exempt and non-exempt employees. The three changes include the following: 1) increasing the threshold for exempt employees, 2) instituting an annual, automatic increase based on the 40th percentile or by the Consumer Price Index for Urban Consumers and 3) changing the duties test for exempt level employees. Currently, the requirement is that the exempt employee must earn at least $23,660 annually. The proposed...

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Leading Lady: Linda Jones April/May 2016

Occupation:Principal at Dominion Seven Architects Hometown: Lynchburg, Va. What does your day-to-day look like? I meet with prospective clients to discuss their projects, do a little accounting work, go on job sites looking at a project under construction and do a little nonprofit work. What led you to where you are now? Interestingly, owning an architectural firm was the last in a long line of careers. It evolved from marketing architectural services for another firm. What were the early days of business ownership like? Certainly a lot of marketing to establish our reputation and a presence in the local...

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Ready To Sell Your House? Buyer—and Seller—Beware!

Violating the Virginia Consumer Protection Act has Never Been Easier As the real estate market continues to rebound from the 2008 recession, more and more homes are being sold each year. In this new recovering market, caveat emptor—or “let the buyer beware”—has been the mantra of the real estate world and the magical words “as is” find their way into virtually every residential sales contract. For centuries, the law has embodied the principle of caveat emptor in most respects with very few exceptions. Buyer Beware Trap Turned Upside Down The Supreme Court of Virginia carved out one such exception...

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Tips on Employee Retirement Packages

As a business owner, making the decision to offer a benefits package to your employees can enrich their lives and serves to help strengthen and protect their families. Simultaneously, you can get the advantages of attracting better-qualified candidates, improved retention of valued employees and increased company morale. A robust benefit package allows you to show you care in a very tangible way and can usually be written off to help reduce the net cost to the bottom line. Setting Up a Plan: What to Consider One of the most common benefits you might implement is a retirement savings plan....

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Leader of the Month: Jan Walker April/May 2016

Occupation: Senior Vice President, Chief Administrative Officer, Centra Hometown: Lynchburg, Va. What does your day-to-day look like? No two days are alike, for sure! As the Chief Administrative Officer for Centra, I oversee functions that include the Human Resources Department, Legal Services, Risk Management, Safety, Security, Licensure & Accreditation, and Pastoral Care and Community Outreach. Needless to say, hourly developments throughout the organization can drive priorities of the day. That said, the majority of my time is spent listening closely to a team of highly skilled and dedicated staff with a goal of providing executive support as needed. What...

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