Secondary Data Review Term Paper

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Secondary Data Review

Solving the Problem of Decreasing Revenues

Due to continuing instability in the stock market, the business I originally wrote about, Unit Investment Trust that was part of JP Morgan, had been losing money since 2002. Ultimately, those in charge of such decisions, chose to sell the UIT part of the business.

Over the last few years, many businesses have faced similar problems because of the recession and stagnant economy, and other businesses have gotten into trouble because of other issues.

One such company is featured in an article from the Boston Business Journal. Ultimate Parking Inc. is a Boston-based valet parking company. This company was doing well enough that it was able to spin-off another venture called premier Curbside Valet. Originally the second company did very until the curbside restrictions in the aftermath of 9/11 completely destroyed the second company. In the words of the owner and CEO, Andrew Tuchler, "It was a big hit for us...It was the first time since our inception that we had to lay people off. That was very difficult for us..." As a result of this loss, Tuchler and his managers did a complete evaluation of the company to assess its strengths and weaknesses. Not only did the remaining company grow and prosper, but a new aspect of the company's service is a consultancy arm that helps hotels around the country assess their parking strengths and weaknesses.

Another article, also from the Boston Business Journal, discusses a business that got into trouble by an entirely different means although the weakening economy was a factor, is the Waltham-based Action Environmental Inc. The new owner realized that he had a problem about six months after buying the business.

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He said he had bought the business based on the then current contracts without realizing the founding owner had gotten special consideration on some contracts because it was a woman-owned business. One of his managers suggested taking on mold remediation and with this new venture, the business once more started to grow and be prosperous.

According to this article in the Dallas Business Journal, CareerLink, like so many businesses suffered sever financial problems as the result of the poor economy. The owners of the company, which is a full-service professional search and recruitment firm, refused to give up. The company began by staffing human resources, accounting and executive support positions. Then, the two women who started the company brought in a third partner to help them expand toward a technology market. Although there seemed to be plenty of orders coming in, it soon became clear that nobody was actually hiring. CareerLink realized that their former clients were closing their doors. It was a struggle, but the three owners didn't quit, they kept looking until they found a new market in the health care industry.

From the San Antonio Business Journal comes a success story of a couple who found a unique niche in the dry cleaning/laundry industry. These folks offer pick-up and delivery service so that their clients -- mostly upscale executives -- don't have to concern themselves with getting their clothing to be cleaned and then to pick it up. Everything about their business is about specialized service -- the pick-up and delivery, at home or office, and special instructions the clients can give and know that they will get just what they ask for.

These are but….....

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