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|Articles - June 2011|
|Wednesday, May 18, 2011|
Mark Webb remembers loving Harney County as a kid. His parents would park their RV at the Steens Mountain Wilderness Resort outside of Frenchglen (population 12) and spend their summers in close proximity to wild horses and antelope. The big nighttime attraction was looking up at the stars.
Webb, now 53, went on to become an accountant in Nampa, Idaho, and then purchased a fixer-upper RV campground in Weiser. He continued visiting the Steens as regularly as possible and continued bringing his mother to the resort each summer after his father died several years ago. During one of those trips he learned that the Steens property was available — for $1.6 million.
That price fell dramatically as the former owners ran into financial difficulties and decided to hold onto a huge nearby cabin that was originally part of the package. “We offered a little over $200,000, and they accepted it,” says Webb. Not bad for 16 acres surrounded by some of the finest wildlife viewing country in Oregon, with a mobile home, an office building, eight cabins, showers and a laundromat.
But the property was nowhere near as pristine as the surroundings. Since closing the deal last fall, Webb and his uncle have been working long days; replacing worn out beds, gutting and rebuilding showers, and replacing ruined pipes after years of neglect.
“Pretty much every one of the cabins froze up over the winter,” Webb says. When he went to tour the property prior to buying it, a hunter was gutting an antelope carcass right in the middle of the resort.
The plan is to modernize the resort bit by bit. Webb recently brought in Wi-Fi service for the first time, and he eventually intends to build new log cabins. But not until the numbers add up; his accounting background taught him to hold off on capital expenses until he’s positive he can afford them — and to do as much as possible with his own hands.
It’s a strategy that has served him well. Webb spent 13 years turning the rundown RV park in Weiser into a profitable business while working on the side as a CPA. Now he’s taking a similarly methodical approach in the Steens, minus the side-gig in accounting (not a lot of demand for CPAs in antelope country). “It may take us years and years,” he says, “but we’re going to rebuild the whole park.”
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Market of Choice is on a tear. In 2012 the 35-year-old Eugene-based grocery chain opened a central kitchen/distribution center in its hometown. The market opened a third Portland store in the Cedar Mill neighborhood this year; a Bend outpost broke ground in March. A fourth Portland location is slated for the inner southeast “LOCA” development, a mixed-use project featuring condos and retail. Revenues in 2014 were $175 million, a double-digit increase over 2013. CEO Rick Wright discusses growth, market trends and how he keeps new “foodie” grocery clerks happy.
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Uncertainty in Greece and China, along with potential interest rate hikes mean investors are looking at the market and nervously questioning where they should be invested.
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Oregon Sick Leave is here, and changes to the federal white-collar worker regulations are on the way. This workshop will prepare you for both. We invite you to participate in an interactive discussion on how to start planning now for the future impact on your operations and finances.
Presented by OEN + CENTRL + YESpdx.
This Roundtable will cover numerous issues under the employer "shared responsibility" rules of the Affordable Care Act, including how to track the "full-time" status of variable-hour employees, temporary or seasonal employees, and employees who experience a change in status or a break in service. Additionally, we will provide a brief overview of Code sections 6055 and 6056, which require most mid-sized and large employers to submit their first information reports to the IRS in early 2016 regarding the health insurance coverage being offered to employees. We invite you to participate in an interactive discussion on how to prepare for the future impact of the shared responsibility rules on your operations and finances.