A larger than expected hiring upswing and a slight uptick in unemployment. There is a lot of debate because the market is providing different indicators that are somewhat contradictory to each other. Most economists would struggle to understand uncharted territory.
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Friday, April 4, 2025
Delta County Board MI of Commissioners Meeting 4/1/2025: Mostly about Airport Managers and Strategic Choice
When faced with strategic challenge one should think of the path with the most likely desired outcomes as well as feasible alternatives in case unknowns occur. Typically, when we try and solve a problem we can explore numerous options and prune back to the best ideas. In this example, you can see they are using the option to hire those they already interviewed as well as providing support for an executive search option. 10 Tips for Overcoming Strategic Challenges
(As a side thought, having the airport display some of the
local vacation, work and play fun display and artwork might give a great first impression
while helping to brand the town. First impressions count in the resort industry and in the business fieds. Likewise, providing a positive impression as they fly out is also important.
Adding to that a little brochure display of natural wonders, interesting places, hotels, history, events, activities
would be nice. I have seen places put up a poster with a scan code to the
community calendar, interactive map, and important numbers (i.e. roadside
assistance, car rental, hospital, public safety, etc.).
Brainstorming....I suspect one could add a tab with available business
properties for sale and/or area tourist spots. i. e. park, waterfall,
trailhead, etc. Heck have the Historical Society provide a history link to each
of these places. Seems silly but it increases the satisfaction of the visit as
well as raises per visit spending. Setting up a scan code to a couple of documents like a map is generic easy. Interactive maps might take a little more effort but it isn't that hard from my understanding. I have some friends who could probably do that in a few hours so I'm sure it wouldn't be too difficult to find someone around Esky or online.)
Thursday, April 3, 2025
Point Loma Summer Concerts: Concerts Can Enhance Community Value
If you love a warm summer breeze, hourglass sand beaches, cool cocktails over the ocean, then you will probably like living in Point Loma. One of the events the community hosts is the Point Loma Summer Concerts. . I have attended one in the past with some friends, and we had such a good time spreading our blankets out and listening to the entertainment. Delightfully we had the opportunity to meet some of the neighbors. That is what summers are supposed to be like. Point Loma is a coastal community within San Diego and has its own special family-oriented flavor. (History of Point Loma)
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| Sunset Cliffs Photo and Art Product Sunset Cliffs is in Point Loma Most profits from this hobby go to charity |
A Few Thoughts on the Value of Concerts/Events in Two Cousin Environments:
A few thoughts on how revenue and quality of life can be
enhanced by things like concerts, festivals, community activities and much
more. The general idea is if you can improve quality of life, it will then
impact a lot of other things like community, labor retention/draw, investment,
etc. Exploring the idea of the value that concert, and other venues provide is
par for the course in understanding the positive impact fun events can generate
for communities. I have been using Point Loma and Escanaba in some of my
examples because frankly that is where I hang my hat so its good material.
You can read one study on how they calculated financial value. BOA2025.
The publishing calculates some of the benefits to having
concerts within your community. It provides a methodology and conclusion.
Places pay big bucks for consultants when all they need to do is read research
studies and see if they can get the data themselves. While it may not be
"scientific" it still would have some validity for decision making
based on straight forward interpretations. As long as it provides useful
information that has been draw in a similar way as other studies you can learn
something. Reviewing and conducting studies improves learning and strategic
choice because you know where your return on investments is (Why I think
businesses should fund research. If you build a road, what type
events, what infrastructure, etc.)
In these examples the goals of say Point Loma and Escanaba
both may include elements that increase tourism, raise funds for some cause, or
improve the quality of life within their localities. Each community may have a
strategic informal or formal plan they use to align their collective behaviors.
Further, if the goal was to attract tourists you will display the event and
advertise in one medium while if the goal is to attract entrepreneur-tourist
interests you may do it another way. Further, if a goal is simple community building,
then you may also include kid activities, fun games for prizes or other
"get to know your neighbor" add ons.
How much effort and where one is willing to place the
expenditures is going to determine if you are going to do more community
building, more tourism, or something in between (I think this is very
possible to hit a few markets at once.). As a mature and upscale area Point
Loma may be more community oriented with a eye on tourism for local businesses.
Escanaba with a different need might be attracting tourists (i.e. revenue) and
entrepreneurs (business community growth that leads to greater long-term
revenue). I'm just sort of sticking my finger in the wind guessing to
highlight the point.
(For example, a small budding hot spot like Escanaba that
seeks to build up its downtown may consider attracting a conference focused on
bringing entrepreneurs and then coordinating activities to keep them engaged
with the community through something like a music venue. Ensuring potential
business owner leaves with a pretty good idea of the price, costs, financing,
zoning, grants, etc. might tip the scales to keeping some. The point being is
that music can be focused on the community but also have other purposes as an
experience enhancer. This is why some of my research thinks about the social
and business side of economic health.)
To determine how much benefit such music events offer to places like Point Loma or another cousin community in the UP like Escanaba we would need to determine economic impact on things like businesses, branding, restaurant, hotels, and community sentiment. For those focused on economic growth, it might be more income/expense down a chain of financial transactions that determine net gain. For community building such events they might use a survey of resident pride, community engagement, etc. You can read this little article on Calculating the Benefits of Festivals.
This is a slightly older video but looks like so much fun! Their website indicates they are open to sponsorships. I heard that you could sponsor a porta potty (not kidding). Individual sponsorship is as low as $150 and moves up from there. Each level has its own benefits. i.e. like I would like a sweatshirt and a good evening out with friends. Sponsor Point Loma Concerts
(BTW Escanaba will be having a log jam music festival if your looking for a place to vacation.)
Wednesday, April 2, 2025
The Value of Integrity and Trust in Personal and Organizational Spheres
Does integrity still matter? The thought came up over a cup of coffee while thinking about how there exists difficult to measure constructs because they are primarily latent functions (You have to measure them in multiple ways to help define the concept because you can't observe directly. Economics also has latent functions that are not easily observable because economics is a study of human choice/behavior.). As I take a sip of my black coffee, no sugar, I realize there are very core truths in human exchange that lay the foundation for cooperation and economic performance (We have thus far touched upon values, beliefs, oaths, and other foundational concepts of social-economic engagement. Social Exchange Theory)
It depends on who you talk to and whether or not they
respect the value of integrity for a purpose beyond simple lip movement and public display for others. From an organizational and societal point of view, integrity
still matters. It matters because all organizations are collectives of people,
and they share information and knowledge through a medium of trust. When you
are trusted you have more influence and that becomes increasingly important for
leaders and executives (Your handshake should mean something because if people know it does, then connections influence reach because people minimize risk by doing business with you.)
Don't believe?
Let us use two example lenses where integrity of an executive, decision maker, or leader would create trust because they do what they say and say what they do even when no one is looking (Internal consistency of behavior and pronouncement.). The very nature of leadership and/or leadership teams/managers is to provide direction to others. High or low integrity perception will have an impact an organization at different levels. It may be subtle but the impact can make or break the long term financial health viability of the whole because engagement/exchange increases or decreases transactions (...organization as a formal collective. i.e. firm).
Example 1 of Organizational Integrity: Implement a completely unfair rule no one understands or expects into the mix and watch the social and performance outcomes (must be short and long-term performance). Just because no one says anything to the boss doesn't mean there hasn't been a shift in patterns (i.e. all people who wore brown ties or green shoes are fired or all people who have 03 in their birthdate get demoted). While people will hang on for dear career they also will adjust much of their behavior to match the new risks and that will limit knowledge sharing and collaborative effort. Likewise, they will look to join the competition or start their own businesses where the environment is more stable (i.e. risk reduction strategy). It sounds like lack of integrity would not be a good outcome for competitive reasons.
Example 2 Playing Favorites: One of dangers of people who hold little integrity is that they may profess one thing but then do the opposite making a separation between what is and what is not. However, there are short term gains to playing favorites as short term loyalty rises but ultimately it caches you as the broader social structure of people adjust behavior based on the outcomes. Equity Theory.
Integrity is a trust issue. Integrity means that you say what you believe, are transparent in those beliefs and will act to support those beliefs despite the personal consequences. Definition of Integrity (One can be ethical or unethical but still have integrity if they do what they say they will do.) Since it is an essential glue of human interaction most people start learning about it at an early age despite one's occupation, culture, belief or background (i.e. a universal truth/value/form). You can find an example in Montessori Integrity
Managerial integrity often takes into account interactions, norms, culture and values of managers/decision makers in a business setting. It is a little wider conception of the same idea. Managing for Organizational Integrity
Interestingly, one can actually hire for and screen candidates
for integrity. One should understand that no psychological test can be 100%
correct because they often measure the bell curve, and neural diversity can be
a good thing for a species and competitiveness of an organization (One wouldn't want to hire
cookie cutter characteristics that have limited utility under various market
factors. If the market shifts you won't have the variability to deal with it.). There is a role for good judgement, instinct, and experience in
hiring. If it ends in a handshake then there has been trust built that comes
with an underlining truth and expectation (The power of the bond is based in
part on an underlining expectation. Integrity allows you to build those bonds
even with people who might not be your #1 fan because they expect people will act in alignment with words.).
Monday, March 31, 2025
A Few Factors that Lead to Academic and Business Success
Let us think about some of the areas where people can focus
their personal development efforts that will help to create higher success
rates in school and in business. The same skills that one would learn in
academia can be applied to business success because they are part of how a
person approaches challenges. Those factors include grit & consistency,
focus & goals, willingness to learn and strategic thinking.
Grit & Consistency: The ability to stay at tasks even
when it’s difficult. Requires a level of emotional intelligence and task
commitment.
Focus & Goals: Staying focused on key goals and
objectives leads to efficiency and effectiveness of effort.
Willingness to Learn: Without the ability to understand your
industry, gain new knowledge, and apply that knowledge people will be bested by
others who are more competitive.
Strategic Thinking: Evidence based strategic thinking leads
to minimizing risk and increasing probabilities of success.
You may be interested in reading this research study that does include similar ideas. Academic Diligence Success
Sunday, March 30, 2025
Connecting Veterans to a Community: Free Veteran Pizza Party April 17th, 2025 5-7PM Escanaba
Veterans are important members of any community and a source not only inspiration but also a resources for reminding us what is important. Locally there has been a lot of veteran activities that includes the UP Military Museum, a new Escanaba Veteran Center, and some renewed interest in veteran organizations like the one below. These organizations have been around for decades and people spend time there socializing. It is important for veterans to socialize with each other because they are the one's who understand each other's experiences. Amvets is open to veterans, family and grandchildren. Know someone then let them know. Escanaba Amvets
Ports from San Diego to Escanaba Have Economic Value (Cluster Theory Development)
Boats are beautiful and if you spend enough time on the water you begin to see the beauty of living on the coasts whether that a Great Lakes coast or the Pacific Coast (btw you can actually surf both). Thinking about Escanaba and San Diego I realize there are significant economic benefits to being on the water that could possibly be transported to other places.
The world needs to move products and they need ships to move them (..also roads, rail, T1 lines, etc.). The U.S. has struggled to increase ship building and need to think of new ways to maximize opportunities. At the same time it must also think about improving the way in which people live their lives and the overall health of communities (It is possible to connect quality of life and economic growth in resilient cluster development).
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| Escanaba |
(It would be interesting if you could partner some of the businesses between San Diego and investment in local business start ups in Escanaba to create a new cluster that helps further both's interests. Heck even a direct flight would be nice with about 5 hours flight time. We can dream! or in this case theorize. 💨 Keep in mind that everything in this article and blog is more or less just theoretical discussions of "what ifs". It is interesting to think about.).
Let us continue the discussion,....
The economic benefits of San Diego ports include 41% economic increase 2019 to 2023 San Diego Port Generates $14 Billion. Local ports helped weather COVID downturns and much more. That resilience mixed with a diversified cluster could help shield a community like Escanaba from various market up and down swings. One would expect the benefits to get more robust. The economic sectors include,
Tourism & Commercial Industry(40%)Industrial & Wholesale Industry (23%)
Maritime Trade & Cargo Handling (32%)
Cruise Industry (1%)
You will notice the improved infrastructure and logistics of ports in the study below. One in Escanaba would likely have a significant impact on wages and tax revenue but also on the economic health of the UP and part of Wisconsin. That is dependent on size and nature. (Within the study they have some interesting charts and graphs.) The Impact of Ports and Logistics
Thoughts about investing in a port in Escanaba has been going on for a long time. It was once an important port town with fisheries and there was various efforts to rekindle. Times have changed and there are significant pressures on why it could possibly work. You may be further interested in some 2018 Escanaba Port Plans . Some plans have been in the works for a long time and there has been a discussion as a distribution area since 2004. Federal Reserve Bank Escanaba Shipping Hub 2004.
(One might think about how a lucrative port might also improve the health of local fish and related clusterable industries. I would totally love to see more stocking of fish to support tourism and the redevelopment of commercial fish stock that have disappeared from the area.. As an example small % of profit put back into ecological health, research and fish stocks perceptual development. I would love to see our local Native American populations and small fishing vessels from Escanaba earn a living from lakes again. If operations and permits are kept small the wealth could be more dispersed locally to support families. The benefits reach beyond another revenue source to retention and the deals that are made on the water, in the taverns and over a great locally caught meal. Related in part to a transactional rapid innovation cluster theory. Commercial Fishing Great Lakes History)
There are other things to think about in terms of exploring locally made products, training and hiring locals (...and some younger families that bring kids), increasing tax revenues, encouraging investment in infrastructure, and maximizing education and quality of life. If there is an increase in local/regional industry development, bumps in tourism, investment in beautification, and improvement in downtown entrepreneurship then there could be some interesting outcomes.
*Side note: This is more about theory development and possibilities of "what ifs" but if there is the will there is the way. Its just an idea to be consumed or rejected. I'm just sort of bored so I do theory development for fun.


