Corrections or additions?
These articles by Melinda Sherwood and Barbara Fox were published in U.S. 1 Newspaper on June 2, 1999.
All rights reserved.
Don’t Fight, Mediate
If there is one thing Americans agree on, it’s that
we don’t like to agree. A majority of us would rather air our grievances
in court — or the Jerry Springer Show — than lose an inch
of ground with compromise.
When the culture of dispute seeps into the workplace, however, it
can obstruct goals and destroy morale. Thomas A. Fee, a professional
mediator by trade, says that, all too often, companies do not even
recognize that they are headed for trouble. "What we often witness
is `I don’t have a conflict,’ or `I don’t have a problem,’" he
says. "Usually it’s the board of an organization that will call
in mediators before a company starts to lose ground."
Third party mediation — or Alternative Dispute Resolution —
is a growing field and Fee will be the keynote speaker at the conference
sponsored by the New Jersey Association of Professional Mediators on Friday, June 4, at 9 a.m. at
the Hilton in East Brunswick. Robert A. Baruch Bush, a professor
of Alternative Dispute Resolution Law at Hofstra University School
of Law, will be the luncheon speaker. Attorneys, mental health professionals,
accountants, business executives, human resource people and others
who can benefit from user-friendly methods of conflict resolution
are invited to attend the day of workshops and discussions on issues
of security, divorce, employment, and the future of Alternative Dispute
Resolution. Call 609-799-8898. Cost: $199.
Fee, a native of Livingston and resident of Freehold, holds a BA in
comparative religion from Rutgers, Class of 1977, and went to law
school at Rutgers. In 1995 he opened the Agreement Zone, an independent
mediation consultancy firm that partners with national organizations.
During the 1980s, Fee worked in the country’s first statewide office
of mediation, the Center for Public Policy Dispute Resolution in New
Jersey. He also spent six years with the National Institute for Dispute
Resolution in Washington, D.C., where he was executive vice president,
director of research and development, and the senior program associate.
Alternative Dispute Resolution (ADR), Fee explains, is "a return
to what lawyers used to be called: Counselors of Law. The belief behind
it is that there is a whole spectrum of ways to address a problem,
only one of which is litigation."
Although initially used to alleviate scheduling logjams in courtrooms,
third-party mediation has become prevalent in the past 20 years. "The
area that is still growing is the mediation of complex public disputes,"
Fee says, citing as an example the various federal and state agencies
that jockey for resource allocation. "When there are many stakeholders
then there’s a need for a team of people who are impartial to manage
and facilitate the conversation." Fairness, says Fee, is the ultimate
For those attempting to work out their own disputes, Fee offers the
instincts seem to take us to where we have a great argument. The best
thing to do is find where we have a common ground first."
It may not be a matter of communicating the wrong things; it may be
that we’re not communicating enough. "We’re trained to withhold
information because we think we’ll show our cards too quickly,"
Fee says. "Maybe we need to rethink that premise."
how decisions are made can be extremely disruptive, Fee says.
up, Fee believes that there is a deep yearning among people for respectful
— rather than spiteful — conversations and debates. "People
are in search of an etiquette for living within a society that has
so many different kinds of people," he says. One day, he hopes,
the tools of mediation may get us beyond adversarial democracy, litigation,
and maybe even Jerry Springer.
— Melinda Sherwood
Consider selling your business yourself, says Al
Warr, and if you do go to a broker, watch what you pay: "The
fees are totally unregulated, 5 percent, 10 percent, I have run into
At the Business Owners Institute in Bridgewater, Warr hosts a seminar
on how to sell your business. On Thursday, June 3, at 10 a.m. at 676
Route 202/206 North, he will be joined by Sam Gallant, vice
president of Business Management HELP Inc. The seminar is free; call
908-526-1500 for reservations.
Another "sell your company" workshop opportunity will be on
Tuesday, June 15, at 11:30 a.m. at the Westin in Morristown, when
the Venture Association of New Jersey presents Daniel J. Donoghue,
managing director at U.S. Bancorp Piper Jaffray. Call 973-631-5680.
Warr and two partners operate the institute to help businesses expand
or enter the start-up phase. But, like Jeff Milanette of New
Jersey Entrepreneurs Forum, Warr’s major job is to help businesses
get funding. "Our main function is not seminars but to help people
find the money they need to start up or go public or sell it and retire,"
Through the Business Owners Institute he runs nuts-and-bolts workshops
for entrepreneurs — some of whom will become his clients. His
mantra for the institute is that no one can give a class unless they
have had hands-on experience in that topic. "We never have a session
given by anybody who has not lived through whatever the subject is,"
Also, no one can be a director at the institute unless they have had
both corporate experience and small business experience, says Warr,
"because the entrepreneurs are most likely coming from corporate
jobs and are about to lose all their money. They are in for the shock
of their lives. It is a different world, a different language, with
A chemist, Warr went to Mercer University in Georgia and did rocket
research during the Sputnik era. He left a job at an oil company at
Exit 8A to found a graphics company that pioneered in high-end computerized
typesetting for Wall Street businesses. In 17 years he grew it to
be a $5 million firm and then sold it. He has also had a documentary
film company, a real estate firm, and a classical music publication.
In the light of these experiences, here is his advice on selling a
says Warr. "Selling a business is not like selling a house. There
are not that many people looking, and you are looking for a special
type of person."
Don’t be chauvinistic and limit your search to men, warns Warr: "My
opinion is that women make better business owners than men. Men are
more logical and tend to go out on a limb and saw it off, whereas
women rarely make a bad business decision."
and the buying partner. "A lot of people say they want a million
dollars and to walk away, but you make lot more if you hold a great
deal of the paper (the mortgage.)"
You may be able take advantage of high-powered techniques usually
thought of as reserved for big companies. Holding the mortgage is
just one of the "stretch-out" mechanisms to increase sale
price, reduce taxes, or otherwise make the sale more in line with
what you deserve.
critical phase, and you need to help the owner, says Warr. "Then
they are successful and you are better rewarded."
of time that will make it more attractive?
the economy, and the market? Also consider your personal tax liability
and legal considerations.
of view of the marketplace, do you have more than one business?
hire could be someone that might buy your business.
Stock options may no longer be a trump card for luring
competitive, executive leadership into growing biotech firms. Heavy
competition within the industry has caused stock values to dwindle,
says Gene Mancino of Blau Mancino Associates, a 29-year-old
executive search firm at 12 Roszel Road. "Smaller companies have
not been able to get their products approved, therefore stocks have
taken a tumble," he says. "There are too just many companies
and not enough qualified management."
How can companies lure the remaining few good men and women? Think
competitive and think big, Mancino says.
He will join the Biotechnology Council of New Jersey and representatives
from Pricewaterhouse Coopers for "Compensation for a Competitive
Advantage: Benchmarks of Executive Compensation in the Life Science
Industry," on Wednesday, June 9, at 8 a.m. at the Marriott. Tom
Carbone and Ed Speidel of PricewaterhouseCoopers will present
the findings of a recent survey on executive compensation in biotechnology
and medical device and diagnostics fields across the country. Jay
Moorin, partner at ProQuest Investors, will also join the discussion.
Cost $50. Call: 609-890-3185.
A native of Guttenberg, New Jersey, Mancino received a BA in psychology
from Princeton University, Class of 1978, and worked in sales at Proctor
and Gamble before joining Blau Kaptain Associates — the predecessor
of Blau Mancino — in 1979. Blau retired in 1985, and Mancino became
principal owner of the firm in 1995.
Today Mancino leads a headhunting agency with a niche market: pharmaceutical,
biotech, diagnostics and medical products companies. For roughly one-third
of a sought-after candidate’s salary, Mancino and his four staff members
launch a full-scale executive search.
Benchmark salaries within the biotech industry have remained steady
over the last five years, Mancino says. "There are formulas out
there that most companies use, whether or not they are in an early
stage or late stage." For example, CEOs of a medium-sized biotech
company (between 15 and 30 employees) can expect $225,000 to $250,000
base salary, plus a bonus opportunity of 30 percent to 50 percent
based on performance and milestones, with stock options between four
and six percent of outstanding stock. A vice president’s compensation
is roughly $150,000 to $200,000 base salary, plus a bonus opportunity
of 20 percent to 25 percent, and a half percent of outstanding stock.
Since biotechs aren’t cash-rich, a generous stock package has typically
given a company a competitive advantage in recruiting senior-level
management. Mancino says that may no longer be the case. "A lot
of stock options granted to executives have become worthless,"
The reason: unnecessary competition. "They’re killing each other
as opposed to getting together," he says. "They have a product
or potential product, but that does not mean you can create a company."
Rather than dilute both stock value and the pool of qualified executives,
Mancino suggests biotech firms be more realistic and team up:
with the investment community," he says. "Companies are out
there today still making promises about their products or technology
and those promises are not being fulfilled."
and smaller biotech firms, Mancino says, could be good for everyone.
"Big pharmaceutical companies need to fund the biotech industry
so that those companies can produce products that the big pharmaceuticals
can develop in order to get their research pipelines up and running."
— manpower and a portion of the market.
— Melinda Sherwood
Banks are in the same boat as the rest of us — they
are having trouble hiring in a tight labor market. At a meeting designed
for the CEOs and officers of community banks, Paul Dorf will
discuss how banks can attract and maintain high quality employees.
Dorf, a Hofstra alumnus with a Ph.D. in human resource management,
is on the faculty at Seton Hall. He has worked for three of the Big
Five consulting firms and is now managing director of Compensation
Sponsored by the New Jersey Bankers Association, the conference will
be Tuesday, June 8, at 8:30 a.m. at Forsgate. Cost: $125. Call 609-924-5550,
Another participant at this conference, Jay Singer of KPMG in
Short Hills, will discuss how a bank can effectively use the Internet
— the value and use of a Web page, and Internet security. An alumnus
of Stevens Institute with an MBA from Rutgers, Singer directed data
processing operations for a big Manhattan-based thrift bank and was
vice president and operations manager for two multi-billion dollar
bank holding companies.
Theodore Rosen of Vertical Solution partners will teach how
to identify and mitigate business risk — in the shadow of the
Y2K problem. An alumnus of Penn State, Rosen has trained federal bank
examiners on Y2K issues and had been president of a wholesale distributor
for RCA, Whirlpool, and Armstrong Flooring. Also touching on security
issues will be John Maher of Elizabeth-based Coin Depot Corporation.
Maher went to Fordham and the Stonier Graduate School of Banking and
used to work at the Federal Reserve Bank of New York. Two current
employee of the Federal Deposit Insurance Corporation, Richard
Lusk and Jim Hand, will tell how small banks can effectively
handle pressures of the Community Reinvestment Act (CRA).
Or Road Kill?
With all the traffic on the Information Highway, there’s
bound to be more than a few accidents. Bill Ringle, managing
director of StarComm Development Inc., is trying to help businesses
stay on the road. The Web veteran (even at 31) travels around the
country presenting his popular seminars on communicating via the Internet:
Driver’s Education for the Information Highway and How To Be Brilliant
Using the Internet. Just because your company is on the road now,
he says, doesn’t mean it can’t be left behind. "You pick up any
newspaper or magazine and you can’t avoid hearing about the Internet,"
he says, "but there’s a lot of fundamental information that people
still don’t understand."
Ringle speak at the New Jersey Communications, Advertising and Marketing
Association’s New Technologies Conference on Tuesday, June 8, at 8
a.m. at the Forrestal Hotel. The half-day program includes exhibits,
networking opportunities for members of the advertising community,
and unique insights from professionals in the marketing and advertising
field. Nick Pahade, CEO of Beyond Interactive LLC, talks about
how companies can boost their Web traffic and make an online media
buy. Jamie Brooks of Indigo Inc. discusses the latest innovations
in customer specific marketing. Allan J. Jacobson gives legal
tips for protecting creative work on the Internet. Cost: $45. Call
Ringle received a BS in computer science at Rennselaer, Class of 1985.
Despite a leaning towards science, Ringle also minored in industrial
psychology and literature. He fused together the two disciplines —
science and communications — at Drexel University, where he completed
a master’s program in 1991.
Ringle claims he spotted the business application of the Internet
almost immediately. "I had been using the Internet since 1980,"
he says, "and I thought: how long is it going to take before businesses
wake up to how cost effective this is as a medium?"
Capitalizing on an unusual combination of technical and communications
expertise, Ringle founded StarComm Development, Inc. in 1989. The
company assists nearly 20 clients in the creation of "frictionless"
websites. Most importantly, he says, StarComm approaches the companies
from a layman’s perspective. "Some consulting companies want to
show off how much they know," he says. "We’re communicating
the technology so that people really get it."
In How to Be Brilliant Using the Internet, a look at business applications
of the Internet, Ringle points out what he calls the "Four I’s"
of Web development:
not just loaded with glossy marketing information, he says. They should
provide sound information about a given product and enable potential
customers to do searches.
right now are first generation, with just text and graphics,"
he says. People need as much control over the navigation process as
frequently, marketing tactics should be personalized — customer
is to allow the information systems department to run the website,"
he says. "It needs be integrated throughout the organization."
Customer service, technical support, product development, leadership
and management divisions should all be involved.
to rethink who they are and how they should best present themselves,
and that will mean the cooperation of everyone.
To Play the Piano
<B>Jay Schiller, a research scientist for Taylor
Technology at 301 College Road East, will demonstrate an award-winning
prosthetic hand at the annual Discover Magazine awards for technological
innovation on Saturday, June 5, at Epcot at Walt Disney World Resorts.
Schiller’s left arm was destroyed below the elbow after an electrical
accident 11 years ago, and he will use this hand to play the piano
during the gala.
The Tendon Activated Pneumatic (TAP) hand was developed by a Rutgers
research team: Bill Craelius, associate professor of biomedical
engineering, postdoctoral researcher Rochel "Ricki" Abboudi,
and Nicki Ann Newby, president of Somerset-based Nian-Crae Inc.
The hand was selected from among 4,000 technologies to be one of three
finalists in its category.
The TAP hand could replace the metal "claw" or soft plastic
hand in which only the thumb and first two fingers move. It harnesses
the movements of "phantom fingers," finger muscles and tendons
that extend up to the elbow. Sensors in the hand send the signals
in these muscles and tendons to a computer that relays the information
to the hand and directs the fingers to move. The TAP hand could become
commercially available next year (http://opl.rutgers.edu or
The judges for these awards were astronauts Buzz Aldrin and
Wally Schirra; Marvin Minsky, the pioneer of artificial
intelligence; Sylvia Earle, undersea explorer; futurist Danny
Hillis; and magicians Penn and Teller. The ceremony will
Last week three readers called to ask where they could
find a directory, in any way similar to the U.S. 1 Directory, for
north Jersey and Philadelphia. We referred them to the reference desk
of the public libraries in those locations (a safe answer at any speed)
but promised to review any farflung directories that came our way.
The Adams Media Corporation’s "New Jersey JobBank" is a worthy
contender, useful not only to jobseekers but to anyone looking for
leads in companies located outside the Princeton area. (The U.S. 1
Directory is, we think, still superior in Central Jersey, if —
like the Adams editors did — you can supplement our listings with
information from home pages.)
Founded by Harvard Business School graduate Bob Adams, the 65-employee
Adams Media Corporation (http://www.careercity.com) publishes
business self-help books and jobbank directories for 32 cities and
two industries — computer/high tech and health care. The Metropolitan
New York book was selling so well, says Michelle Kelly, assistant
managing editor, that her company branched off to do one for Connecticut
last year and for New Jersey this year. "We had a lot of people
calling in asking for a New Jersey book."
Among its good points are its sensible organization by industry (rather
than by SIC codes) and inclusiveness. It prints what it has, even
if that is only the address and phone number. Sometimes that’s just
what an upwardly mobile professional needs.
"Since most professional job openings are filled without the placement
of help-wanted ads, contacting the employers in this book directly
is still a more effective method than browsing the Sunday papers,"
says the introduction.
Each of the major listings has some of the following information:
commonly fills — not openings currently available.
your company research before contacting the employer."
Road is packed with information, whereas the listing for Princeton
Softech is minimal, and Nettech Systems, a fast-growing 45-person
wireless communication developer on Alexander Road, is not included
The book has Princeton’s heavy hitters in the biotech and pharmaceutical
area but mysteriously omits the contract research organizations (CROs)
that are desperate for personnel. Covance, the CRO at the Carnegie
Center, is funding its own college-based training programs, but it
is not listed here, nor are its competitors. And Bracco, which employs
240 people on College Road, is included only in the "other small
employers" and therefore does not show up in the index.
The small print listings of "minor" employers are rather random.
The chain restaurants listed are those in north Jersey, and the school
listings are particularly disorganized.
Each chapter opens with an industry summary that is useful for those
not in the industry — but will probably evoke a big ho hum from
insiders. For instance, the computer introduction says that "computer
operators will see a decline in opportunities due to automation and
advances in user friendly software." Also that "personnel
who can read old programming codes are needed, and many qualified
workers from other segments of the computer industry are leaving their
current jobs to work as Year 2000 consultants." At the end of
the chapter is a useful list of professional associations, online
services, and job-related magazines.
Adams Media has started selling the information electronically, nine
cents per company for one-time use and 15 cents for a year’s use,
exported in a text format that can be used in a mail merge. A list
can be plucked by choosing a location, an industry, or specific positions
that it hires for, but not by size of the company.
The biggest difference between the U.S. 1 Business Directory and the
JobBank book is in how the information is gathered. Adams takes information
from companies contacting them, and their editors also — in this
cyber information age — do research on large employers on the
World Wide Web. They do a confirmation mailing and get a four percent
response rate. In contrast, U.S. 1 gets some of its company information
from the team that delivers the newspaper, with followup calls from
reporters and a fax-out or mail-out. U.S. 1 gets more than a 30 percent
If you want a good picture of New Jersey’s business scene, the Adams
book is a price performer at $16.95 in bookstores. To order (paying
$4.95 postage) call 800-USA-JOBS or fax 800-872-5687. For electronic
format listings call 800-872-5627, extension 5304 or E-mail email@example.com.
— Barbara Fox
The annual Stark & Stark EMS Recognition Award —
a plaque and a $500 check — was presented to Harry Towner,
an emergency medical technician with the Plainsboro Rescue Squad.
Albert M. Stark praised Towner for his 20 years of tireless
work and service for the squad and the residents of Plainsboro.
over $1,200 at its annual convention golf outing to benefit the Make-A-Wish
Foundation. Another golf outing will be held on October 5. Make-A-Wish
Foundation grants the wishes of children under 18 with life-threatening
Corrections or additions?
This page is published by PrincetonInfo.com
— the web site for U.S. 1 Newspaper in Princeton, New Jersey.