JUNE 29, 2011

Local retailer David Karsten elected to Ace Hardware board of directors

OAK BROOK, Ill. (June 24, 2011) – Phoenix, Ariz.-based Ace Hardware retailer David Karsten, was elected to Ace Hardware Corporation’s board of directors at the retailer-owned cooperative’s annual stockholders meeting June 14, held at the company’s headquarters in Oak Brook, Ill.

Karsten, 47, will serve his first three-year term as a member director of the 10-member board of directors, which sets strategic policy for Ace management. Board members can serve a maximum of three, three-year terms.

 “Dave brings a well-balanced approach to the strategic processes of the company,” said David Ziegler, Ace retailer and chairman of the board. “His experiences as a retailer and fresh industry perspective will make him an excellent asset to the board of directors.”

Karsten studied at Northern Arizona University and Arizona State University where he focused on general business and finance. After working as a trader on the Chicago Stock Exchange for ten years, Karsten turned his attention to his entrepreneurial interests. Nine years ago he built his first Ace Hardware store, Karsten's Ace Hardware in Cave Creek. Since then, he has expanded with stores in Carefree and Goodyear.

For more information on Ace Hardware, please visit www.acehardware.com.

JUNE 29, 2011

Schweikert Bill Enabling Small Companies To Access Capital Markets Approved By Committee

WASHINGTON – The Financial Services Committee today approved the Small Company Capital Formation Act (H.R. 1070) introduced by Rep. David Schweikert.

The bill makes it easier for small businesses to access capital, which will permit greater investment in these companies and will allow them to grow and create new jobs.

“I am extremely pleased that the Financial Services Committee passed my Small Company Capital Formation Act. This common-sense proposal, passed with bipartisan support, reduces burdensome regulation on small business and creates more jobs. I am glad my colleagues stand with me in unwinding regulation and make our capital markets more vibrant and competitive,” said Rep. Schweikert.

The bill increases the offering threshold for companies exempted from SEC registration under Regulation A from $5 million — which was set in the early 1990s — to $50 million.  Increasing the Regulation A threshold will lower the cost of raising capital for small businesses.

“Small businesses are the engine of job growth in our country,” said Chairman Spencer Bachus.  “With this proposal, small businesses will be able to more efficiently raise funds that they can use to hire new employees.  I commend Rep. Schweikert for offering this important bill that will help small businesses across the country create jobs.”

H.R. 1070 was approved by voice vote.

JUNE 24, 2011

City of Scottsdale Economic Vitality to host “Merchant Talk” meeting

To support downtown merchants, Scottsdale’s economic vitality department will begin a series of “Merchant Talk” forums to enhance dialogue and grow the health of the local economy.  The first meeting will be held from 8 a.m. until 9:30 a.m.  Thursday, June 30 in the economic vitality office at 4021 N. 75th Street (Suite 102) – a short walk from City Hall, the Civic Center mall and downtown Scottsdale.

The open forum will encourage merchants to share questions, challenges and triumphs with other merchants and city staff in a collaborative and relaxed atmosphere.

“As we enter the off-peak months and with the relocation of the downtown group’s services, we have an opportunity to strengthen our relationships and collaborative efforts,” said Rob Millar, strategic programs manager. “That’s what these merchant talks are designed to do.”
For more information, contact the economic vitality office at 480-312-7989.