April 1, 2010

Local First helps businesses and consumers find each other

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Andy Follett is hoping his latest business venture will help
area residents shop local businesses, increase business for local entrepreneurs
and help those businesses find an alternative to local chambers of commerce.

Follett is one of the four partners who started the Chester
and Delaware County Local First groups. He likened Local First to a small
business association

He said Local First is a way for local businesses to compete
with the national chain big box stores, and it also serves as an alternative to
local chambers of commerce.

“It’s a membership driven entity where locally owned
businesses can join and receive the benefits and exposure that you’d get if you
were to purchase regular advertising or Internet advertising, but at a much
reduced rate” Follett said.

He said it’s an attempt to even the playing field for the
local businesses to help them compete for the consumers’ attention. And the
services on the sites feature local businesses.

“[It’s purpose] is to help give them the exposure they need,
to level the playing field with the national chains and big box businesses and
to give residents in the area tools to use, and give the businesses tools to
use so they come together on line and find each other.”

Follett added that it’s good for the consumer to purchase
from local businesses because it helps 
“strengthen the living local economy. The money that’s spent in the
local area tends to stay in the local area.”

He said it would be better for the local economy if
residents bought nuts and bolts from a locally owned hardware store than one of
the national chain stores.

Buying from that locally owned store, he said, “supports the
local economy, creates jobs and helps the environment … The revenue that goes
out of state to the corporate offices of these large companies doe not help the
local tax revenue or the local parks or the local charities, even.”

He also said that Local First does more than just market on
the Internet. The company runs TV ads on cable.

“We’re trying to give residents an alternative, a place to
go to find an alternative local business. We’re also trying to give local
businesses an alternative trying to go out on their own and pay for Comcast
advertising, or Internet advertising. It’s more of a cooperative,” he said.

Follett said Local First also wants to give businesses an
alternative to the local chambers of commerce.

“Speaking with many locally owned businesses,” Follett said,
“they join the chambers and really don’t get anything out of it. The biggest
complaint we hear was that,’ We joined the chambers, we go to these functions
and unless you’re a bank or an insurance guy or real estate guy, it doesn’t do
us any good.’”

The more members Local First has, the more money there will
be to help educate consumers and buy more media time, he added. Membership
costs $200 per year.

Follett said the concept behind Local First has been growing
for about seven years and it fit what he and his partners, all local
entrepreneurs in Delaware and Chester counties, were looking for.

All of the partners, he said, have Internet marketing
experience and have other businesses as well.

“We understand the struggle of trying to keep staff, the
struggle against big box businesses and trying to live the American dream,”
Follett said.

Anyone interested in learning more about Local First should
go to www.GetLocalFirst.com,
or call Follett at 610-873-8500.

About Rich Schwartzman

Rich Schwartzman has been reporting on events in the greater Chadds Ford area since September 2001 when he became the founding editor of The Chadds Ford Post. In April 2009 he became managing editor of ChaddsFordLive. He is also an award-winning photographer.

Local First helps businesses and consumers find each other Read More »

Adopt-A-Pet

Adopt-A-Pet

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Abby
is a 7-year-old spayed female beagle
that is available for
adoption through the Chester County SPCA.
Abby was adopted from the
shelter six years ago but brought back to us on March 16. Sadly her previous
owners can no longer care for her. She is a very sweet girl who is housebroken
and gets a long with children, cats and other dogs. Abby loves attention and is
looking for a family that likes to take walks. She needs a little exercise to
lose some weight. Abby is looking for a
responsible
care giver who will give her the love and attention she deserves. If you are
able to provide that home, visit the Chester County SPCA at 1212 Phoenixville
Pike in West Goshen or call 610-692-6113. Abby’s registration number is 96798691.
To look at some of the other animals available for adoption, visit the shelter
or log onto www.ccspca.org.

About CFLive Staff

See Contributors Page https://chaddsfordlive.com/writers/

Adopt-A-Pet Read More »

The 2010/25th Anniversary Mushroom Festival T-shirt Design Contest underway

The 2010/25th Anniversary Mushroom Festival T-shirt Design Contest underway

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Submissions are now being accepted for the 2010 Mushroom
Festival T-Shirt Design Contest. The winning design will be used on the
official 25th Anniversary Mushroom Festival T-Shirt.

The application and official rules are available for
download at www.mushroomfestival.org. The deadline for entry is May 7. Artists
may submit up to three separate designs.

The Mushroom Festival is on Sept. 11 and 12 in Kennett
Square. For more information contact Kathi Lafferty, Mushroom Festival
Coordinator, at 610-925-3373.

The 2010/25th Anniversary Mushroom Festival T-shirt Design Contest underway Read More »

A potential Miss Pennsylvania comes to Chadds Ford

A potential Miss Pennsylvania comes to Chadds Ford

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Jenna Schmalhofer couldn’t have asked for a more appropriate
event. Schmalhofer, this year’s Miss State Capital and a contestant in June’s
Miss Pennsylvania Pageant, came to the Brandywine River Museum in Chadds Ford
to greet children as they entered to take part in events in “Celebrating
Caldecott” Children’s Day.

“The exhibit they have going on right now is all about award
winning children’s illustrators and books, and my platform is early literacy
that focuses on high quality children’s literature as a way to, not only help
educate students and young people, but also, to have kids fall in love with
reading,” she said. “…This is perfect. It ties in with everything I believe in
and stand for and it’s perfect with my platform.”

She said adults can only go so far in helping kids learn to
read. The goal, she said, is to get them to fall in love with reading.

“For kids who already know how to read it’s more important
that they fall in love with reading because when that happens the possibilities
are endless,” said the Lancaster County resident.

A flyer she was handing out to children and adults alike
began with the words, “Dreams begin with a book.”

Should Schmalhofer win the Miss Pennsylvania crown in June,
she’ll then go forward into the Miss America Pageant.

Hillary Holland, public relations director for the
Brandywine Conservancy, said they were looking forward to several hundred kids
coming to the museum throughout the day.

“This is a really fun day for children and their families,”
she said. “We’re celebrating art and reading. We have a wonderful exhibition of
Caldecott medal winners. These are considered the best illustrated books of
every year and we’ve got more than 30 illustrators on display.”

The children had stories read to them and toured the
Caldecott award exhibition. There were also videos and a crafts activity
period.

Holland added that having Schmalhofer on hand was a good for
the museum, too.

About Rich Schwartzman

Rich Schwartzman has been reporting on events in the greater Chadds Ford area since September 2001 when he became the founding editor of The Chadds Ford Post. In April 2009 he became managing editor of ChaddsFordLive. He is also an award-winning photographer.

A potential Miss Pennsylvania comes to Chadds Ford Read More »

Know Your Finances: Happy anniversary one year bull market

Speaking of weather reports…health reform has set off political
weather patterns that make the antagonistic global warming climate debate seem
playful.

The primary goal of health reform was to get health care coverage for
the uninsured. It succeeds in this regard as more than 30 million uninsured
people will now get benefits.

The principal ways the bill expands coverage (and adds to government
expenditures):

  1. Premium
    subsidies and subsidies for limiting out-of pocket expenses for
    deductibles and co-payments for low-income earners through both Medicaid
    expansion and new state insurance exchanges.
  2. Coverage
    of the Medicare drug benefit gap for seniors.
  3. Tax
    Credits for qualifying small businesses.

The government will finance these costs generally from:

  1. Higher/new
    taxes for wealthier people (individuals earning $200,000 or couples
    earning $250,000).
    1.  .9% increase in Medicare Part A
      tax
    2. 3.8% tax
      on investment income
  2. Healthcare
    industry fees (pharmaceutical and medical device companies).
  3. Cuts in
    payments for Medicare Advantage Plans (alternative plans to Medicare for
    seniors).

The Congressional Budget Office says that the bill will actually cut
the deficit in ten years. The look-back in ten years should be very
interesting.

Health Care Companies

The health care industries came through this process in good shape.
The increase in numbers of insured people dovetails nicely with the favorable
demographic trends (aging populations, living longer and more actively) for the
industry. Also, the final bill excluded a government-run insurance option which
previously spooked investors with a fear of price negotiations that could have
significantly eroded profit margins.

Drug companies will have to pay several billion dollars in fees each
year but they will gain higher patient volumes from the newly insured and the
subsidies provided for the Medicare part D “doughnut-hole” gap. Both big pharma
and biotechnology companies did well at the expense of generics companies since
the 12 year patent exclusivity was left untouched. Device makers got hit the
hardest in fees but they also benefit from gaining more patients with insurance
coverage. Insurance companies fared decently, though they will have to change certain
underwriting practices and benefit structures, there are no rules affecting
their ability to increase premiums. 
Hospitals will get less in Medicare reimbursements in exchange for more
covered patients.

Health care is an important sector of our economy with spending of
close to 16% of our GDP. 
Similarly, it is an important sector of the stock market as it is the
third largest in the S&P 500 with nearly 13% of total stock market
capitalization. Only the technology and financial sectors are larger.

The bill is too new and too complex to know now the full effect it
will have on health care companies. The debate is already on over whether or
not the penalties are too low to induce some individuals and employers to
obtain coverage for themselves or for employees. Generally though, health care
companies have come through the reform process well and the fear of the unknown
is behind them.

 

The Stock Market

The stock market has been on a streak since February and it has been
more than a month since the S&P 500 closed out a day with a decline greater
than 1%. The length of this streak says a lot about the underlying strength of
this bull market, but we expect some degree of a short-term pullback before
prices can climb to new higher levels.

We expect the market’s momentum to pull more people in from the
sidelines. There is a renewed sense of comfort with stock investing coupled
with the ongoing frustration with low returns from money market funds and
bonds. It also doesn’t hurt that stock valuations are not quite yet into bubble
territory.

When we sense a whiff of the beginnings of a stock market “euphoria”,
which we are beginning to sense, our antennae is raised and we are careful to
stay true to our investment discipline. The quality of the economic recovery
remains to be seen.  We remain
fully invested in the markets as we navigate the subtle valuation differences
between asset categories and sub-categories.

We hope everyone has a Happy Easter and Passover.

About CFLive Staff

See Contributors Page https://chaddsfordlive.com/writers/

Know Your Finances: Happy anniversary one year bull market Read More »

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