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 Jen Intro 1Return to index of stories... |
Hi, I'm Jennifer Rooks and this is Making Sense New England. |
| Jen Tease/Intro Return to index of stories... |
Welcome to Making Sense New England, a monthly series about the economy and you. We're here to share ideas, advice and solutions to the economic challenges facing all of us. The stories come from your neighborhoods and take on some of the problems caused by the recession. Today, you'll learn about a program that puts the lid on heating costs. Protect your family from investment thieves. And thinking of starting a small business? First, it takes more than money to start a small business, it takes courage. For some people, losing a job is all the motivation they need. That's the case for Jill DeWitt. In 2007, she took three months off from her job at a chiropractor's office because of illness. By the time she got well, her job disappeared. Here's the rest of the story: |
| Story 1 - Good Eats Return to index of stories... |
1:33:45/nats Good morning! How are you? :47 Customers come to the Good Eats Boutique in Portland, Maine to find all kinds of gourmet sweets and treats - even goodies that are gluten-free, sugar-free and vegan… 1/1:04:33/Jill With a two-day notice, we can make you whatever you want. If you want crème brulee, if you want cannolis, if you want sugar cookies that are monogrammed, birthday cakes… whatever it is, and we do weddings… that way, I don't say no to anybody. :54 The proprietor is Jill DeWitt, who loves what she does. 1/1:25:03/Jill Really, I have to tell you, sometimes I have to pinch myself. Because something fantastic came out of one of the worst times in my life. :11 Three years ago, Dewitt lost her job after dealing with health problems. When she got better, she started thinking about her life. 1/1:08:13/Jill You know, I've never had trouble finding a job. But for some reason, I really wanted to take some time and think about what I really wanted to do. So, for the first time in my life, and I can't really tell you why, I decided that I was going to collect unemployment:28 and I sat down and got all the papers filled out, and a couple weeks later, I get interesting yellow letter in the mail that said if I was going to collect unemployment, I was going to have to go to The Career Center in Portland. :44 Tape 3 She landed here, at the state-run Career Center, in a weekly workshop like this one, run by Cindy Edwards. Edwards often tells her classes: look at a lay-off as an opportunity. Dewitt was listening. 1:10:16/Jill Anyone who knew me knows I always talked about having my store. And, after the class, I went up to Cindy and I said, "Look. This is who I am, this is what I know, this is what I'm thinking of doing but have never really had the encouragement to do it, and we talked for literally about an hour and at the end of that conversation, her words to me were, "You have everything it takes to do what you need to do and once you decide that you're doing it and you say it out loud, there's no turning back. :51 1:36:49/Cindy Most people are saying "I can't do this," but they're actually shaking their head yes when they're talking to you. They may not have the full movement but you can tell by the tone of their voice and what they're saying that they really would like to do this, it's just no one's every supported them before. So, when Jill was telling me all the reason she couldn't, everything she was saying was from somebody else. :13 1:10:56/Jill I was absolutely petrified, and these words were coming out of my mouth and I was like, "Gosh. This really may happen." :05 Dewitt worked with SCORE and a women's business group…wrote a business plan, and got a bank loan. She opened the Good Eats Boutique in October of 2007. There is no kitchen, or even oven at Good Eats. Instead, Dewitt recruits talented home bakers, who bring the goodies to her, including Emily, a young mother of a newborn, who arrives with her specialty… 1:01:30/Jill/nats So this is our chocolate cake with a cheesecake center, chocolate butter cream, chocolate icing, and a chocolate ganache all in one. :42 1:13:06/Jill When I started designing this, the whole concept with the store was to bring in all the local talent that is right here in our own state, and believe me I started out with seven bakers and one chocolatier… now have 16 bakers and 3 chocolatiers. So the process has really been interesting. :31 And that's not all. Now Dewitt is sharing her concept with others. Nancy Bouchard was laid off from her job in January of 2009. She, too, went to workshops at the career center… and there, met Cindy Edwards who introduced her to Jill Dewitt, who offered to help her open a store. 4/1:08:05/Nancy Oh my God, you meet Jill, you know right away you're bound for better and bigger things. And I thought, "Oh my God, I can't let this opportunity pass me by." :24 This is knocking knocking knocking and I can't let it go. :32 4/1:08:59 I hesitated for several months, to the point where it looked like I wasn't going to do it at all. I hesitated so much that - the fight was within myself as to whether or not I was going to do it. :24 Finally, Nancy bit the bullet and did it… Pepperell Sweets Boutique opened for business in Saco Maine in October of last year, following Dewitt's business model. *4/1:10:03 I couldn't let another opportunity pass me by. I am so glad I did this. This is mine. I just feel like a million bucks now. This is mine. This is mine! :34 Nancy says even though things are slow at times, after three months Pepperell Sweets is doing better than she hoped or expected. Jill says Good Eats Boutique began turning a profit after six months, and business keeps improving. Her advice for would-be entrepreneurs: don't try to make everything perfect in the beginning. 1:21:05/Jill I kept things very simple in the beginning. What you see know - all the selections - is not what we started with. And as we grew, and as I saw the numbers grow, then I expanded a little more, then I expanded a little more, and that way I always knew what was going on. :26 I think, anyone starting a new business, you've got to have a great accountant, and let him guide you, you need to have trust in a good lawyer, so that you know where you are with that, and number one, you've got to find the best location and know that your rent works for you. Because if you are rent poor, it's not going to work for you. :49 Cindy Edwards wants more people to follow their dream, as Jill did. 1:40:43/Cindy If you're thinking of going in to business: what is the business you're entering, and why? What's your passion and connection to it? And what's the good and the bad? You just can't have this bubble that everything's going to be rosy, you have to look at the whole picture. Bottom line, though, worst case scenario, if you fail at your business you're a little further in debt, and you end up going back to work for someone else anyway. Why not take a chance, but put yourself first and give yourself the best opportunity to be a success. Take advantage of everything out here that's being offered to you. :18 *1:17:46/Jill I think the most important thing that I've learned through this is: how well do you really know yourself? You know, when you are really alone with yourself, you know what your strengths are and you know what your weaknesses are, and you also know what you have a passion for, some of us, I believe, were totally born to do something like this, other people, it would frighten them to death, and even though there's that little bit of fear in starting any business, if you know that you have something or do something or create something or have a service of something, that really makes a difference, you'll know that inside. 1:18:24 Surround yourself with the people that fill your weaknesses, and you're in a win-win situation. :33 1:48:08/Cindy You get out of it what you put in to it. And if you only come through this life once, what a shame to not take a chance. :19 |
| Tag /Intro Fuel Return to index of stories... |
There's been a lot of news lately about the difficulties for small business owners to secure loans. Later in the program, a banker lends his advice on how to best overcome that challenge. For more information about small business ownership visit our website at makingsenseNE.org For many people in northern New England, staying warm this winter is a real challenge. Cold weather combined with a soft economy can leave home fuel tanks running low. This past year, Congress allocated 5.1 billion dollars to a fuel assistance program. Making Sense correspondent Phil Vaughn was curious on how the program might help you. |
| Story 2 - Fuel Return to index of stories... |
Winter weather keeps John Prescott busy. Prescott delivers home heating oil for the company his grandparents founded long before he was born. And the number of homes needing fuel assistance, he says, is rapidly increasing. Last year in northern New England more than 100,000 households received fuel assistance. For some families it's a choice between eating and staying warm. Celeste Lovett manages NH's fuel assistance program. Funding comes from the federal government - part of which is stimulus money. Nancy Gamble works just down the hallway from Lovett. She oversees another state program that helps home-owners weatherize -- reducing their need for fuel. The requests for both the weatherization and fuel assistance programs are soaring throughout northern New England. Eligibility for the programs is based on income. Fuel assistance is around 60 percent of the state's median income. Weatherization is at or below 200 percent of the national poverty guidelines. For Making Sense New England, I'm Phil Vaughn. |
| Tag/Intro Investor Return to index of stories... |
Fuel assitance programs are available throughout northern New England. Visit our website at makingsenseNE.org for more information. Our next segment looks at an emotional and very personal money issue that most families will face at some point: the sensitive question of whether, when, and to what extent to become involved in our parents' financial lives. Correspondent Bridget Barry Caswell shows us just how important this question can be. |
| Story 3 - Investor Return to index of stories... |
This 3-ring binder holds the remnants of Ray and Carolyn Thompson's big dream… *1:36:16/Carolyn/nice pan So we were looking forward, not only to our retirement time - although now we probably never will retire - but also to helping our children develop something for their future. :25 …a chance to make a lot of money by investing in a new wind company. 1:28:08/nats This is like a picture he had on the website. The windmill was a little like that, only more of a fabric blade…:17 The company, called "Almighty Wind," promised to manufacture electricity-producing windmills that don't make noise or vibrate, and don't harm birds. 1;26:36/nats Where we wired our money… this is where I checked their incorporation, and they are incorporated in Nevada…:43 The company recruited investors from all over the country, who then recruited their friends. The Thompsons were one of several couples in the greater Bangor area. They were very excited. Carolyn 1:03:37 Everything seemed like, "Oh! This is something we've been waiting for. And we could have one right here on our rooftop or out in the yard and produce our own power. And it was going to be producing more power than our house would need." :50 Ray 1:04:00 They were planning on leasing these to homeowners. And the concept was great. I mean, it really was great. The homeowner could save a lot of money, and it really wouldn't cost him very much at all. 1:04:11 The plan was that every investor would become a dealer of the windmills… Ray 1:04:46 What they did is develop so that you could buy "territories" with so many thousands of people in it. 1:05:21 We had territories in Georgia, Massachusetts and New York.:25 … they also bought a "territory" in Maine. All during the months of February and March of last year. Then in April of last year, the Thompson's traveled to Nevada for a big training event and windmill demonstration. About 200 investors attended. Carolyn *1:08:23 We went out the next day to see this windmill, and when we rounded the corner - we were on busses - and we rounded the corner and I looked at it and tears just streamed down my cheek and I thought "This isn't what we were told. This was not what we were told." And I couldn't even stop them. 1:08:38 Ray 1:06:51 Well. Wasn't what it was described that it was going to be. It was not a working windmill. It had no alternator or generator on it that would produce power. :00 Things unraveled from there. The company made several promises, then never followed through. The Thompsons finally asked for their money back, and have received nothing. Ray 1:13:23 I invested 30-thousand dollars. 10-thousand dollars, three different times. Ouch. 1:13:33 The Thompsons are not the kind of people you'd think would become victims of a scam or deceptive investment scheme. Ray Thompson owns a successful hardware store in West Enfield - he used to be the fire chief in Milo - and both he and his wife have been businesspeople their entire adult lives. But they've since discovered that the marketing manager at Almighty Wind has a criminal record - and is being investigated by the FBI. *Ray 1:17:26 One of the things I feel bad about, Jennifer, is that I talked other people in to investing in it. Told them all, everything that was going on, and these are very reputable people. :35 5:40 - 5;49 We will do a complete investigation and do what we can to bring this individual to justice and stop the practices. Their case is being handled by the Maine office of Securities. Judith Shaw is administrator. 7:37 - 7:54 Unfortunately, with investment fraud and similar types of securities fraud, it's often very difficult to get the money back, because the money has been utilized by the con artist for their own personal purposes, or they've used it to try to engage people in the fraud itself. Meantime, the Thompsons are trying to deal with all of this with humor… and perspective. Carolyn 1:29:36 I have had a heart attack in the past and I don't want another one. Hopefully, we can get some money back, but if we don't, we're not starving yet so we're going to move on. :47 *1:38:20 /Ray I do not measure my wealth in money. I measure it in happiness. And that's one of the reasons this didn't really bother me. I'm still a happy man. :33 |
| Tag/Intro discussion Return to index of stories... |
If you have concerns about possible senior investment fraud or, for that matter, the security of any investment, there are experts who can provide answers. Visit Making Sense NE.org for a region-wide list of helpful resources. As we showed you earlier in the program, once you lose a job, creating your own business can sometimes be a lucrative option. Finding the money to get started, however, can be tricky. We met with the senior lender at Monadnock Community Bank in Peterborough, NH for advice on how to successfully secure a small business loan. |
| Thanks/Goodbye Return to index of stories... |
You can watch an extended interview with Bill Gilson on our website: makingsenseNE.org Thanks for watching Making Sense New England, I'm Jennifer Rooks. |
| Web Promo Return to index of stories... |
Did you have a reaction to any of the stories or interviews featured in this program? Did we miss anything or do you have suggestions for future Outlook espisodes? If so, we want to hear from you. Drop us an email at nhoutlook@nhptv.org. As always, you can find these stories and more online at nhptv.org/outlook. VERSION ONE: Connect with us online. New Hampshire Outlook is available online on demand at nhptv.org/outlook. We've been streaming our programs since Outlook premiered in September 2000. Whether you want to watch this show again, email it to a friend, search and watch past programs or get more information on thousands of stories and topics, you'll find it all at nhptv.org/outlook. VERSION TWO: Connect with us online. New Hampshire Outlook is available online on demand at nhptv.org/outlook. VERSION THREE: Connect with us online. New Hampshire Outlook is available online on demand at nhptv.org/outlook. Whether you want to watch this show again, email it to a friend, search and watch past programs or get more information on thousands of stories and topics, you'll find it all on our website. |
| key: Business / Industry Return to index of stories... |
Making Sense New England #103 Air Date/Time: 1/21/2010 HOST: Jennifer Rooks Length: 7:15 Welcome to Making Sense New England, a monthly series about the economy and you. We're here to share ideas, advice and solutions to the economic challenges facing all of us. The stories come from your neighborhoods and take on some of the problems caused by the recession. Today, you'll learn about a program that puts the lid on heating costs. Protect your family from investment thieves. And thinking of starting a small business? First, it takes more than money to start a small business, it takes courage. For some people, losing a job is all the motivation they need. That's the case for Jill DeWitt. In 2007, she took three months off from her job at a chiropractor's office because of illness. By the time she got well, her job disappeared. Here's the rest of the story: PRODUCER/REPORTER: Jennifer Rooks NAME OF PARTICIPANTS: Jill DeWitt\Small Business Owner, Cindy Edwards\Career Counselor, Nancy Bouchard\Small Business Owner. |
| key: Social Services Return to index of stories... |
Making Sense New England #103 Air Date/Time: 1/21/2010 HOST: Jennifer Rooks Length: 7:42 Welcome to Making Sense New England, a monthly series about the economy and you. We're here to share ideas, advice and solutions to the economic challenges facing all of us. The stories come from your neighborhoods and take on some of the problems caused by the recession. Today, you'll learn about a program that puts the lid on heating costs. Protect your family from investment thieves. And thinking of starting a small business? For many people in northern New England, staying warm this winter is a real challenge. Cold weather combined with a soft economy can leave home fuel tanks running low. This past year, Congress allocated 5.1 billion dollars to a fuel assistance program. Making Sense correspondent Phil Vaughn was curious on how the program might help you. PRODUCER/REPORTER: Phil Vaughn NAME OF PARTICIPANTS: Celeste Lovett\NH Office of Energy and Planning, Nancy Gamble\NH Office of Energy and Planning, John Prescott\Prescott's Home Heating Oil. |
| key: Business / Industry Return to index of stories... |
Making Sense New England #103 Air Date/Time: 1/21/2010 HOST: Jennifer Rooks Length: 8:10 Welcome to Making Sense New England, a monthly series about the economy and you. We're here to share ideas, advice and solutions to the economic challenges facing all of us. The stories come from your neighborhoods and take on some of the problems caused by the recession. Today, you'll learn about a program that puts the lid on heating costs. Protect your family from investment thieves. And thinking of starting a small business? Our next segment looks at an emotional and very personal money issue that most families will face at some point: the sensitive question of whether, when, and to what extent to become involved in our parents' financial lives. Correspondent Bridget Barry Caswell shows us just how important this question can be. PRODUCER/REPORTER: Bridget Barry Caswell NAME OF PARTICIPANTS: Lt. Robert Kalinowski, Jr.\Bennington, VT, Det. Sgt. David Rowland\Bennington Police Dept., William Carrigan\VT Dept. of Banking, John Gannon\President, FINRA Investor Education Foundation. |
| key: Business / Industry Return to index of stories... |
Making Sense New England #103 Air Date/Time: 1/21/2010 HOST: Jennifer Rooks Length: 4:10 Welcome to Making Sense New England, a monthly series about the economy and you. We're here to share ideas, advice and solutions to the economic challenges facing all of us. The stories come from your neighborhoods and take on some of the problems caused by the recession. Today, you'll learn about a program that puts the lid on heating costs. Protect your family from investment thieves. And thinking of starting a small business? As we showed you earlier in the program, once you lose a job, creating your own business can sometimes be a lucrative option. Finding the money to get started, however, can be tricky. We met with the senior lender at Monadnock Community Bank in Peterborough, NH for advice on how to successfully secure a small business loan. PRODUCER/REPORTER: Phil Vaughn NAME OF PARTICIPANTS: Bill Gilson\Monadnock Community Bank. |