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These articles by Peter J. Mladineo and Barbara Fox were published in U.S. 1 Newspaper on Wednesday, June 3, 1998. All rights reserved.
Survival Guide II
Nassau Street is lined with banks and brokerage houses, but in only two places -- and they are almost side by side, at 16 Nassau and 20 Nassau -- can you walk in, go to a terminal, and check a stock quote.
At Quick & Reilly at 20 Nassau you can walk right in and use an ADP quote machine for news, analyst comments, and prices. "We've had that for three years, ever since we've been open," says Tony Sofronas, branch manager.
At Fleet Bank's new branch at 16 Nassau you can go to the second floor and, at your leisure, sit at a terminal connected to Fleet Bank's home page http://www.fleet.com , and get quotes and news. The bank acquired Quick & Reilly in January, and its home page stock lookup is linked to http://www.quick-reilly.com .
Fleet's new "Financial Solutions Center," housed in what used to be the Trust Company of Princeton, is a sleek attempt to change the paradigm of a branch bank and to cater to the needs of small to medium businesses and investors. It hosts an invitation-only reception on Tuesday, June 9, at 4 p.m., with invited guests including commerce commissioner Gil Medina, banking and insurance commissioner Lisa Randall , and state chamber president Joan Verplanck. For an invitation, call Andrea Randolph at 609-688-0423.
On the first floor is an area, open 24 hours, that boasts ATM machines plus a commercial depository and change-making machine. Michael A. Jones , relationship manager, says that if you have a Fleet card you can get change for free, for now, though a service charge may be added later.
The tellers -- usually a prominent staple of a branch bank -- are on the second floor, as is the Internet terminal, a demonstration terminal for online banking service, and conference cubicles. Staff offices are on the third floor.
Fleet's corporate office says that it has not decided how or whether it will combine offices with the stock broker it acquired after making its plans to open on Nassau Street. In Princeton's case, both the bank and the broker's officers are so small that they would seem impossible to combine. Charles Schwab, at 330 Alexander Street, is the other discount broker that offers a walk-in look-up service.
Leadership in Management," a one-day seminar focusing on stress management for business people, will be conducted by Sanjiv Shah on Saturday, June 6, at 9:30 a.m. at 707 Alexander Road, Suite 200. The $75 registration includes breakfast and lunch. To register call 215-579-4253 or E-mail firstname.lastname@example.org.)
Rakaj Bansal of New York Life is helping to arrange this RSVK (Rishi Samskruti Vidya Kendra) seminar on nonphysical yoga, and he expects that from 50 to 65 people will attend. Bansal has attended the 12-day version of this seminar, held at a Hindu temple in Blairstown, and he says that the technique of meditation is not based on any religion, but that regular meditation can work toward productivity in the corporate world.
Bansal learned that "doing nothing" can sometimes be useful, that one should take care of each and everybody like your own family members, and that no one should "label" anyone. This plus eating healthy food (vegetables, fruits, juices, and absolutely no caffeine) and doing regular meditation exercises can help cut stress. "It has increased my outlook," says Bansal.
When traveling, bring half as many clothes and twice as much money. This old adage has its parallel with AT&T's new toy, the PocketNet. It's not cheap (it costs $399, plus $20 a month for data storage), but it certainly will force you to travel lighter, at least in terms of gadgetry.
PocketNet looks like a cellular phone, but can access and send E-mail, maintain a personal website, keep an address book, and print to a fax machine. It will be one of the featured devices at the New Jersey Technology Council's communications industry track meeting on "The Electronic Executive of the Future," with Bill Camarda of Camares Communications and Gerry Zagorski of AT&T Wireless, on Thursday, June 4, 8:30 a.m. at AT&T in Basking Ridge. Call 609-452-1010.
"In essence," says Zagorski, "PocketNet is a cellular phone, a personal digital assistant, and a laptop for checking E-mails all rolled up into device that will fit in your breast pocket. If you take a look at the mobile professional today they don't want to carry another mobile device. This consolidates them in one device but gives them more functionality. When I travel now I travel very lightly."
Entrepreneurs planning to export or import may benefit from the annual international business conference at Raritan Valley Community College in North Branch on Friday, June 5, starting at 8 a.m. The Global Trade 2000 conference, entitled "Countdown '98," will feature a speech on "Technology & Print Media: Managing Global Trade Information" by George Taber, founder and president, Business News New Jersey. For $60 registration, including lunch, call 908-526-1200, extension 8235.
Speakers include Leigh Ann Gilbert Catlin , of Neo Strata on Research Way, speaking on joint ventures and strategic alliances, along with Matthew Sagal , senior partner, Alliance Management Group, and John Bing , president, of ITAP International at Research Park, on whether technology has impacted cross-cultural communication.
Also, on export/import successes, George L. Lee III, vice president, Red Devil Inc., Lawrence K. Harper, president & CEO, Ballantrae International Ltd., with moderators Axel Velden, export director, Johnson & Johnson International, and Rod Stuart , director, U.S. Commerce Department. Neil Orkin , Global Trade System, and moderator Meg Paradise , director, Q Research Solutions Inc., will discuss opportunities for service industries. On financing import/export businesses will be Doug Hulse , president, Maresco International and Herb Austin , Small Business Administration, with moderator Gunter Lewin , president of G&M International.
Ellen Dec , general consul-intellectual property, National Starch & Chemical Co., and Dan Fleming , attorney, Wang, Tsai & Fleming, will discuss patent rights and intellectual properties. Learn about trade leads and market research from Roger Gottlieb , director, Virtual Learning Network, and Herb Spiegel at the Mercer County College SBDC, with moderator Richard Mesenbacher , RVCC center advisory board.
Asians and Pacific Islanders have done very well in many different technological areas in business, says Prabhayathi Fernandes, but they are not as well represented in management. To be influential, they need to develop leadership qualities, maybe by improving written and verbal communication skills, but also -- perhaps -- by being entrepreneurial.
As the CEO and chief scientific officer of Small Molecule Therapeutics, Fernandes is the keynote speaker at the sixth annual "Success through Leadership" conference of the Leadership Institute for Women of Asia and the Pacific Islands on Saturday, June 6, 8:30 a.m. to 4:30 p.m., at Trayes Hall, Douglass College Center, Rutgers, New Brunswick.
Fernandes' title is "Encouraging Innovation: the Essence of Leadership." Also the Honorable Lonna R. Hooks, secretary of state of New Jersey, will give an address entitled "Effective Communication, Networking, and Leadership." All women are welcomed; to register, call Margaret Varma , director of the institute, at 732-932-6521; a $40 contribution covering breakfast and lunch is requested.
Maria Cora Gaffar of PharmHealth Technologies in Princeton will introduce Fernandes. Two of the conference panelists -- Subha Barry (a vice president and resident manager at Merrill Lynch) and Maya Gokhale (group head of advanced networks and computing group at Sarnoff Corporation) -- are from Princeton and have recently received the Princeton YWCA's TWIN awards.
Independent consultants Jagruti Oza and Connie S.P. Chen will moderate panels on technological trends and economic/business trends. Presenters include Akemi Denda (director of sales/market development at AT&T), Bichlien Hoang (executive director, Intelligent Network Technology Integration at Bellcore), Shikha Mittra (financial advisor at American Express Financial Advisors), Maria Florini Ramirez (CEO of her own firm), and Helena Wong (senior vice president of marketing, Western Union Financial Services).
"Being immigrants to this country, Asians and Pacific Islanders do not have a lot of family support, and so are less risk taking," says Fernandes. "Bet on yourself instead of on management and the company you are in. Build your own life. It is no more risky than working for a big company."
Established last July on DeerPark Drive, Fernandes' company hopes to develop novel screening technologies to identify small molecules that may form the basis of useful new drugs (U.S. 1, November 11, 1997). Small Molecule Therapeutics hopes to do on a small scale, with far fewer resources, what research departments of all the big drug companies are already doing every day.
A native of Bangalore, India, Fernandes has been instrumental in the development of many new drugs, including a semi-synthetic antibiotic called clarithromycin, which under the trade name Biaxin brings in over a billion dollars a year for Abbott Labs. Fernandes earned her bachelor's and master's degrees in India, and then studied immunobiology in Belgium, at the University of Ghent. After moving to this country when her husband, Michael Fernandes, was admitted to a nephrology residency program in Philadelphia, she earned a PhD at Philadelphia's Thomas Jefferson University. From 1989 until last summer she was vice president of biomedical screening at Bristol-Myers Squibb.
Success can also be measured by quality of life, she warns. "All Asians and Pacific Islanders believe in very high quality and feel they have to deliver the absolute best. Parents and children are very very driven and do very very well. But now they have to step back and look at quality of life, to take time to smell the roses, so to speak." If children who grow up here are to be successful leaders, they cannot be so focused on their work that they are very different from their peers.
Use technology to gain respect, she summarizes, and learn to become leaders: "The Asian culture has a lot of team spirit, and we will bring that to the business world, to help us to be leaders and help us transform the world."
It's E-rnie instead of E-mail. The Princeton Chamber of Commerce, along with Princeton Fuel Oil Company, Sandler Sales Institute, Sovereign Bank, and UniShippers Association, are sponsors of the Hospitality Jam and Networking Event being held at Sesame Place in Langhorne, Pa., Wednesday, June 10, 6 to 9:30 p.m. Bring towels with your business cards and register in advance with the Chamber of Commerce, 609-520-1776, $5 per person. All guests must be 21 or over, so you can finally enjoy Sky Splash and Big Bird's Rambling River without kids!
Chamber president Ellen Hodges notes that the event draws about 500 businesspeople from New Jersey and Pennsylvania. There's the Wacky Hospitality Olympics, Caribbean food, drinks, mini-rapids, and water slides -- bring your bathing suit.
<B>Robert Frawley will speak on how to structure a technology based business on Thursday, June 11, at noon, at the Technology Help Desk and Incubator, Suite D-1, 100 Jersey Avenue, New Brunswick. Frawley will explain how the business structure you choose (sole proprietorship, C corp., or LLC) will affect your future plans and vision for your business. An attorney at Smith, Stratton, Wise Heher and Brennan, and Fraley is also president of the New Jersey Entrepreneurial Network and chair of the corporate and business law section of the state bar association. The seminar is free by registration; call 732-545-3221.
The firms of Arthur Andersen and Buchanan Ingersoll are contributing marketing funds to help promote the toll-free help line offered by the help desk, sponsored by the New Jersey Small Business Development Center. The help line (800-432-1TEC) provides free counseling, advice, and referral support to technology based companies and entrepreneurs needing technology commercialization and management assistance services.
Last week, a New York Times editorial took aim at the computer industry for being so myopic about the millennium bug: "It seems odd, somehow, that in an industry that is downright apostolic about the future -- whose pundits make more prognostications than a Ouija board -- no one saw the millennium coming until it was just this close."
But are the geeks ever having a time with this bug. The latest Y2K Spook-a-Thon happens on Thursday, June 11, 8 p.m. at the East Brunswick Hilton. Sponsored by Technology New Jersey, the conference, dubbed "New Jersey & Year 2000: Perfect Together?" features a bevy of Y2K doomsayers headed by Irene Dec , vice president of corporate information technology for the Prudential Insurance Company, who gives the keynote address. It costs $100. Call 609-419-4444 for more information.
Other speakers include John C. Scott , a senior member of IBM Global Services; Mark Ghassemzadeh , director, and Tim Zebo , principal consultant of Bellcore Network Consulting; Rick Cowles , a Year 2000 utility expert and author; Robert N. Green , manager of PSE&G's Enterprise Year 2000 program; Jane Reiner , principal of AMS Group International; Alan Simpson , a leading Year 2000 consultant; Nick Loudon , the coordinator of Merrill Lynch's Y2K effort in Canada; and Tri Ma Gia , manager of information systems for the Federal Office of Thrift Supervision.
Also on the bill are William J. McNichol , an intellectual property attorney with Reed Smith Shaw & McClay; Marjorie F. Chertok , a computer law attorney with Greenbaum Rowe; Alyson Miller Greenfield , an assistant director with the New Jersey Small Business Development Center; James Degnen , a senior managing consultant with the New Jersey office of telecommunications and information systems; and Victor Porlier , the executive director of the Center for Civic Renewal and columnist for Westergaard Year 2000 (a Y2K webzine). Closing the conference will be a wine and cheese reception, featuring a signing of Cowles' book, "Electric Utilities and the Year 2000."
On-hand will also be dozens of representatives from Y2K solution providers, including Hexaware, Transformation Systems, Platinum Technologies, Prince Software, Pi Technologies, and DataCore Systems.
The bottom line about the Millennium Bug is that Murphy's Law -- that everything that could go wrong will go wrong -- will come down with the same punctuality as the Macy's ball above time square. From phones to airplanes to elevators to mainframes, anything computerized is subject to malfunction when the big tick arrives.
Reed Smith Shaw & McClay has identified Y2K-related problems that could surface in these kinds of business transactions:
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