St. Louis success stories regularly make national news. This column highlights some of the most recent headline grabbers.
Forbes Features ‘Folksiness’ Of Edward Jones
Edward Jones was recently featured in the June 14 issue of Forbes magazine in an article entitled, “Door-to-door in Harpenden,” bearing the subhead, “In America’s arsenal of exportable financial skills, count the small-town folksiness of Edward Jones.”
The author, Phyllis Berman, focuses on Edward Jones’ unique sales approach, describing the firm as “the midwestern broker famous for its one-man offices in spots like Alma, Ark. The firm’s 4,000 brokers still go door-to-door to garner accounts, peddling, with a very soft sell, the most conservative of stocks, bonds and funds. They refuse orders for commodities options and most new issues.”
The article credits John Bachmann, the firm’s managing principal, for Edward Jones’ expansion, “John Bachmann, 60, who took over in 1980, moved Edward Jones into the suburbs in the mid-1980s, into Canada in 1994 and into Britain three years later.”
The piece commends Edward Jones’ performance, “Despite all the competition from on-line trading and high-performance products, the revenue of this privately held firm grew 25 percent, to $1.3 billion, in 1998. That is almost as much as the 27 percent increase for discount broker Schwab and far more than Merrill’s 6 percent or Paine-Webber’s 3 percent increase.” It continues, “Jones’ earnings increased 39 percent to $158 million last year, giving it a pretax return on average equity of 47 percent just about equal to that of Charles Schwab.”
Bachmann is quoted as being equally optimistic with respect to the firm’s future, “Our business is based on a one-on-one relationship, and that face-to-face advice is gonna look awfully good in a down market.”
JetCorp named to top 10 aircraft charter services in United States
JetCorp, a full-service FBO and aircraft charter company located in Chesterfield was ranked among the top 10 aircraft charter services in the United States by Professional Pilot magazine’s 25th annual PRASE Survey (Preferences Regarding Aviation Services and Equipment). The accounting firm of Minter, Morrison and Grant tallied more than 12,000 ballots cast by the readers of the magazine to decide the best companies for aviation services.
“Everyone at JetCorp has been working hard to make our company the premier charter service in St. Louis as well as nationwide,” says JetCorp president and co-founder Doug McCollum. “This year JetCorp was in the top 10; next year we’ll be striving for number one.” Professional Pilot has been in print for 33 years and is based in Alexandria, Va.
TWA receives Frequent Flier magazine/J.D. Power & Assoc. award two years in a row
Trans World Airlines, Inc. was honored for the second year in a row by Frequent Flier magazine/J.D. Power and Associates Airline Customer Satisfaction Study, and ranked first in the “short flight” category, domestic flights under 500 miles.
Last year, TWA’s cutomers bestowed the “long flight” award to TWA, which finished second this year by a close margin in that category.
“For seven of the past 10 months, TWA has led all major U.S. airlines in on-time performance as measured by the U.S. Department of Transportation,” says TWA CEO Bill Compton. “Our people are providing consistent operational excellence. We are adding a new airplane every 10 days in 1999, with 125 more new planes on firm order beginning next year. The J.D. Power award is a tribute to the progress TWA is making, as are the record numbers of customers who are choosing to fly TWA.”
About 6,000 readers of Frequent Flier and the OAG Pocket Flight Guide were asked to rate their three most recent airplane trips in the last three months. Criteria included flight scheduling and accommodations, frequent flier programs, on-time performance, plane interior and seat comfort, flight attendant service, food and airport check-in service.
St. Louis ranks in top U.S. art destinations
In the Summer 1999 issue of AmericanStyle magazine, results of the publication’s annual poll for the top Arts Destinations revealed that St. Louis ranked among the nation’s best, in the country, and was included on the list for the first time ever.
The report, which highlighted metropolitan areas almost exclusively, reveals a surprising departure from last year’s results, where traditional small town communities like Sedona, Ariz. and Taos, New Mexico reigned. The shift was expected, according to publisher Wendy Rosen.
“Over the last few years, artists have been capitalizing on the pricing and availability of old warehouse space in urban areas. The artists’ return to the big cities has helped dramatically invigorate the arts scene in those markets,” Rosen says. In return, according to Rosen, big cities have embraced the trend through aggressive marketing and tourist programs.
Business Facilities ranks Illinois as sixth best national location for logistics, warehousing, and distribution
The June issue of Business Facility magazine ranked Illinois as the sixth most popular location in the United States for growth in the logistics industry, which includes warehousing and distribution, in their annual “Top 15 States for Logistics Growth.”
Logistics, the management of materials or products from any one point in the manufacturing process through customer fulfillment, is one of the most rapidly changing, dynamic industries in the country. Estimated to be an $862 billion industry in 1997, it encompasses all businesses that move products from origin to end user, including distribution, warehousing, customer service and increasingly, information technology. The study was based on the latest Department of Labor statistics.
Business Facilities magazine targets corporate executives looking to select new locations for their expanding and relocating companies.
