Soundings (2/28/06)

Posted by Stowe Talbot 
 
 

Flag Salute and Invocation by Kathy Cheldelin

Visiting Rotarians: Pete Kremen, Pat Foley, Ann Jones

Guests: Markell Kaiser, Joan Penny (Director, Bellingham Festival of Music), Erika Keller, Sue Rittmueller, Sally and Joe(?) Walkenshaw.

Student of the Month
Squalicum teacher-advosor Mr. Riley introduced our student-of-the-month Lena Walkenshaw. Lena is an exceptional student with a very global outlook. She formerly attended Nooksack High, but is now a student at Squalicum. Among other classes, she takes AP Spanish literature. Lena has traveled abroad extensively with her family, and even lived in Costa Rica during her 6th grade. She plans to study abroad and do more volunteering. She also loves working with children. George Bowen presented her with certificate and a check for $100.

 

Bucks in the Bay
Bill Unrein - great basketball game at WWU;
Steve Brummel - thanks everyone for coming to basketball game;
Pete Rittmueller - Rotary Foundation check, and celebrating his 33 year wedding anniversary;
Lance Calloway - predicting rain in Phoenix for his upcoming trip with fiancee;
Denise - thanks to Roger Jobs for hiring her son Drew, had a good trip with her daughter and classmates to the State tennis meet;
Ron Hardesty - Fat Tuesday beads, Guy Clark concert, Green Frog café with "Hardesty Brothers", and his partner Tim Carpenter is retiring.
Stew Ellison - 10 days in FL and Caribbean;
Bob Newell - missed meetings because of a trip to South America: Chile and Argentina;
Cy Lindberg - today is Open House for Festival of Music, also, see newwhatcom.org to see what is going on with New Whatcom planning and to submit comments there too.

Sergeant at Arms by Dave Nichols
Patti' going to be a grandparent (still a secret), Ken Oplinger border issues, George Bowen, Ken for pandering to Peoples Bank, Robin with Mardi Gras trivia, George Carlin quotes.

Upcoming programs:
March 14 Whatcom Literacy Council
March 21 Local Firefighters' trip to New Orleans

Program
Orphalee introduced Bob Pritchett of Logos Bible Software. The company employs 100 people, and the products are used by 400,000 people in 180 countries. Bob won the "2005 Ernst and Young Entrepreneur of the Year" award. Logos is the leader in its industry. He founded Logos at age 19.

Bob related the story of how Logos was on the edge of bankruptcy, despite a family history of successful entrepreneurs. Too much growth and not enough focus on the bottom line or the core products and competency. The company at that time owed $1.2 million, and they were forced to withdraw a public stock offering. But the company fought its way back to a healthy balance sheet. Along the way, Bob learned some important lessons: Cash is king; build a rainy day fund; profit is why you are in business; and if you need to fire someone do it now (for their sake and yours). Those are classic lessons, but worth repeating. Habit, tradition and laziness are what will kill the business.

Logos Bible was a company is a mature, crowded field ...until they acted to break the rules. For example, they decided nevermore to attend exhibitions unless they got speaking time at the conference. Also they started to employ an old secret of the publishing trade: All orders for books are now "pre-orders" and they will print only after a certain threshold is reached; therefore they never wind up with excess stock. Such ideas were born from heated arguments about profits and cash.

Bob recently wrote book "Fire Someone Today, and other surprising tactics for making business a success", which will be released in April 2006.

Logos means logic or "word" in Genesis.
They have over 5,000 books that they sell.
Sales are conducted over the internet, in Christian bookstores, and through direct sales.

Bob chose to move the company here because Bellingham provides many of the amenities of city life, but it's not too big; also it affords better access for traveling, and also it's easier to recruit employees to Bellingham.

Respectfully Submitted,
Stowe Talbot