Trade horror movie of 2010?
“Here’s a start for your horror movie,” Roger Cunningham, president and owner of United Risk Consultants tells me as we begin to talk about political risks for exporters in North Texas. He tells me that we are seeing ”unprecedented” worldwide insolvencies in 2009 that are continuing into 2010. This means that companies are in a lot of financial trouble.
Some may ask, ‘how does this impact me? I have great relationships with my buyers.” Contracts signed three years ago under the best of intentions are now facing extraordinary uncertainties. Buyers are unable to follow through.
Are you doing business with Greece, Iceland, Ireland, Italy, Portugal or Spain? Many executives are beginning to worry about the enormous debts of these and other governments around the world. Will they be able to support their own obligations, much less support their business communities in a time of need?
“Political Risk includes military wars, but in my experience, many people don’t think about trade wars which happen much more often,” Roger tells me. “The cancellation of an import or an export permit can certainly stop payment on an order; not to mention any and all future orders.”
An example is the provision in the Stimulus Act of 2009 that prohibits Canadian, and other foreign-owned businesses, from competing for U.S. government projects. It also prohibits U.S. companies that source a percentage of their products from foreign-owned companies. Buying Canadian lumber? Chinese steel? You are likely out of the game for these procurement opportunities. Selling to these same companies? Many governments are retaliating, making it much less attractive for foreign-owned businesses to buy U.S.-made products.
Global Commerce can be a risky business if you’re not prepared and the Dallas Regional Chamber’s International Business Council wants to help you prepare. The fourth installment of the Navigating Global Risk Series will host a panel of experts to discuss ways to not be fooled this April fool’s day. “Insuring” You Get Paid in Global Commerce will be held Thursday, April 1, 2010.
The April 1 seminar focuses on banking, public and private sector insurance tools for risk management and discusses building these tools into an international sales contract. Confirmed panelists include Roger Cunningham, president and owner of United Risk Consultants and Kelly Kemp, business development officer at the Export-Import Bank of the United States. Other speakers will represent legal, corporate experience and the banking sector.
CPE- Accounting and MCLE (pending) continuing education credits are available for this course, with no course prerequisites.
The April 1 event will be held at the Westin Galleria Dallas. Prices for each seminar are $45 for Chamber members and $55 general admission. International Business Council members receive an additional discount.
Visit www.dallaschamber.org/global for more information or contact Kelle Marsalis at (214) 712-1901 or kmarsalis@dallaschamber.org to register.
Chamber Program Brings Together Technology Entrepreneurs
Over 80 technology and life science entrepreneurs and capital sources gathered on February 25 for the first Capital Connections workshop of the year. The Capital Connections Workshop series is a program hosted by the Chamber and sponsored by PricewaterhouseCoopers LLP.
Supporting entrepreneurial development is an important piece of growing the technology economy in North Texas. This program encourages entrepreneurs to come together once a quarter to network and hopefully find partners to assist in their business’ growth or a connection to a capital source. Investors are also invited to attend so they can meet young growing companies, and hopefully find a new client to fund.
Additionally, the evening had a presentation of the PricewaterhouseCoopers’ MoneyTree report, which announces venture capital activity across the US. The study is a collaboration between PricwaterhouseCoopers and the National Venture Capital Association. The report covered on February 25th was an overview of the venture capital spending environment across the nation for 2009. It also highlighted data specific to the DFW region, such as the venture capital investment in 2009 for the region was $350 million and the top three industries invested in were Industrial/Energy, Software, and Business Product and Services.
For information about the Capital Connections Workshop series or to view more data from the PricewaterhouseCoopers MoneyTree report, please visit www.DallasTBC.org.
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Chamber hosts luncheon for United States Senator John Cornyn
On Friday, February 19th the Dallas Regional Chamber was proud to host a luncheon for United States Senator John Cornyn. Over 200 business leaders from across North Texas were on hand to hear the Senator’s views on world events and the issues under consideration in Washington, DC.
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- DRC President Jim Oberwetter kicks off the luncheon.
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- Research In Motion / Blackerry Co-CEO Jim Balsillie introduces Senator John Cornyn
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- Senator John Cornyn addresses Chamber members
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- Roundtable participants
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Chamber Hosted Successful Orientation
At last week’s member orientation, over 75 business professionals kicked off the new year learning how to take advantage of their partnership with the Dallas Regional Chamber. This interactive forum featured remarks by Chamber staff outlining our 2010 programs and initiatives, a review of the annual video which highlighted a year of accomplishments for the Dallas Regional Chamber and the North Texas business community, and an opportunity for members to make quality connections by promoting their products and services.
As the region’s premier business alliance, the chamber represents virtually every size and type of business in the DFW area. Membership offers instant access to a network of nearly 2,500 businesses and their 600,000 employees. We are dedicated to serving our members and their business needs through our sound public policy advocacy efforts, our focused economic development initiatives and our outstanding member services.
To find out how your business or organization can join the Chamber and be a part of the in-crowd, click here to submit a membership form.
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Technology Business Council Welcomes 2010 Chair
Sue Spradley, North America Region Head for Nokia Siemens Networks, and 2010 Technology Business Council Chair
The Dallas Regional Chamber’s Technology Business Council is proud to announce that Sue Spradley, Head of the North America Region for Nokia Siemens Networks, is the 2010 Technology Business Council Chair. Spradley has taken over this leadership position from John Dupree, Vice President Enterprise and Federal Government for Sprint, who served as Technology Business Council Chair from January 2008- December 2009.
Spradley has more than 20 years of experience in services, operations, sales, customer service and global product line management in the telecommunications industry. She currently leads Nokia Siemens Networks’ North American region and its Customer and Market Operations. After joining the company in July 2007, she became a member of the Nokia Siemens Networks Executive Board on August 19th, 2009.
Prior to joining Nokia Siemens Networks, Spradley was president of Nortel Global Services and Operations responsible for technical engineering, manufacturing and supply chain management. She also was a member of the National Security Telecommunications Advisory Committee (NTSAC), which reported to the President of the United States.
As Technology Business Council Chair, Spradley will oversee the Chamber’s activities in the high-tech and bio-tech space, along with supporting the overall mission of the Chamber by serving on the Board of Directors and Executive Committee. The TBC Chair works closely with the Chamber to plan out the year’s program of work, to actively involve TBC members and technology leaders in the DFW region in these initiatives, and to represent the TBC at various industry events.
The Technology Business Council (TBC) is comprised of Dallas Regional Chamber member companies, stakeholders in the area’s technology and life science community, and financial investors of the TBC’s activities throughout the year. Through various leadership, networking and educational opportunities, the TBC maintains its mission to develop, promote and sustain the greater Dallas region as a global leader in technology talent, innovation, integration and manufacturing. The TBC has laid out its program of work for 2010, which can be viewed by clicking here.
The Chamber would also like to thank John Dupree for his support and leadership over the past two years.
If you have interest in finding out more about the Technology Business Council and how your company could become involved, please visit www.DallasTBC.org or contact Erica Flores at eflores@dallaschamber.org.
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Chamber Hosted Successful Annual Meeting
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- Amb. James C. Oberwetter, David R. Corrigan and Robert W. Best following the presentation to the outgoing Chairman.
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- Dallas Mayor Tom Leppert, Amb. James C. Oberwetter, David R. Corrigan and Robert W. Best pose for a photo op following the luncheon.
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- 2009 DRC Chairman of the Board, Bob Best, presents the 2009 Chairman’s Award to Ernst & Young’s Clint McDonnough.
The Chamber’s Annual Meeting, on January 14th at the Fairmont Hotel, gathered the business leadership of the region to review the accomplishments of 2009 and to outline initiatives for the future. The meeting featured remarks by 2009 DRC Chairman of the Board, Robert W. Best, Chairman of the Board and CEO, Atmos Energy Corporation; 2010 DRC Chairman of the Board, David R. Corrigan, President & CEO, Corrigan Investments Inc.; 2011 DRC Chairman elect, W. Mike Baggett, Chairman Emeritus, Winstead PC; and Ambassador James C. Oberwetter, President of the Dallas Regional Chamber.
The annual video, which highlights a year of accomplishments for the Dallas Regional Chamber and the North Texas business community, was showcased.
The 2009 Dallas Regional Chamber Chairman of the Board, Bob Best, presented the Chairman’s Award which is annually given to an outstanding individual who has actively contributed in supporting the Chamber and the community throughout the year. The Chamber would like to congratulate the 2009 Chairman’s Award recipient, Clint McDonnough, Office Managing Partner for Ernst & Young LLP. In his role McDonnough serves as the face and voice of E&Y in the Dallas community.
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A Letter From DRC Chairman Best and President Oberwetter
Dear Chamber Members and Strategic Partners:
A year ago we reported that the Chamber’s 100th year was going to be a very special one, both challenging and productive – and it was. From a well received centennial celebration to important successes in matters of public policy and economic development, your Chamber helped set the stage for future growth.
(more…)
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Accolades from 2009
As challenging as this year has been, many people still see the Dallas/Fort Worth area as full of opportunity and potential. Dallas/Fort Worth is widely recognized as one of the top performing metropolitan areas in the country and usually sits in the top tiers of economic performance monitors and industry magazine best of lists. Take a moment to review some of the great things others had to say about us in 2009:
- #1 - Top Cities to Earn a Living, Forbes.com, Read more
- 3 Dallas/Fort Worth corporations were in the Top 50 of Fortune magazine’s list of the World’s Most-Admired Companies. (Southwest Airlines, ExxonMobil, and AT&T), Read more
- #7 – Top tech metro area (in terms of number of jobs available), Dice.com, Read more
- Dallas #13 and Fort Worth #12– Best Performing Cities, Milken Institute, Read more
- DFW ranked in the Strongest 20 Metros, Brookings Institute, Read more
- #9 - The Next Youth-Magnet Cities, Wall Street Journal, Read more
- #5 – Top 10 U.S. Cities with the Most Green Buildings, The Daily Green, Read more
- Forbes.com called Dallas/Fort Worth a World Capital of the Future. The timing of this article couldn’t be more appropriate given that the Chamber spent much of the year presenting its benchmark global competiveness study, Global DFW. In it, Dallas/Fort Worth proved itself to be a formidable competitor, ranking us 10th out of 21 elite global metro areas.
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Live Healthy North Texas
As you might have heard, momentum for Live Healthy North Texas is building in the region and with healthcare reform in the national spotlight now is a great time to get involved. Next week is a big week beginning with a Tuesday morning kick-off press conference on the campus of SMU to highlight the initiative that is bringing together ten chambers of commerce, the Dallas County Medical Society, the DFW Hospital Council, and the Health Industry Council of North Texas to promote wellness.
Then, on Wednesday and Thursday the Dallas Chamber will be hosting one hour informationals where the executive director of Live Healthy, Troy Vincent, will overview the program and answer questions. (If you would like more information visit the events section of the chamber website).
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