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Every week, reporters around the continent write great business stories that don't make it onto your screen or into your local paper. And every week I scour newspapers around the continent to identify five of those great stories to enrich your weekend reading. This week I'm pointing you to stories about McDonalds vs. Starbucks, online referrals, new uses for a product, new uses for a dealership, and Canadian banks.

My Posts This Week

Look to your left to see what I blogged about here this week. Over at Momentor I blogged about "Put the Coach In" and did my weekly selection of Top Career Posts.

Last week's newsletter was "Lady Clementine and the Butterfly." As usual there were pointers to Web and Reading Resources, too.

Since I do a lot of writing for business, including ghostwriting, I've stated a Business Writing blog. Check it out if you need a writer or if you need to improve your own writing, web site, and marketing materials, or if you want some help telling your story.

Carnivals

Blog carnivals are collections of posts from a number of blogs. Here's a selection of recent business-oriented carnivals.

Carnival of the Capitalists
Carnival of Human Resources

And now, here are five great local business stories from this past week.

From the Arizona Republic: McDonald's plans frontal attack on Starbucks
"McDonald's is preparing to launch its full-scale assault on Starbucks next week when it rolls out coffee bars called McCafes at more than 11,000 restaurants nationwide, including about 210 in Arizona. "

Wally's Comment: This will be interesting to watch. Starbucks has spent the last few years screwing up a good business. McDonald's has spent the last few years recapturing their magic. In this contest, McDonald's is the contender. My money's on the contender.

From the Charlotte Observer: Online referrals boost construction business
"Rodney Seiwert's construction business once focused mostly on spec houses, those built without a buyer. But weak sales and rising foreclosures created a glut of unsold homes, effectively ending that work. His company continued to do commercial upfits and residential remodeling – but the bulk of its revenue was drying up. Seiwert, vice president of Center City Builders in Charlotte, found salvation in an unexpected place: an online referral service."

Wally's Comment: Here's how a downturn can bring good things to a business. Without the downturn in construction, Center City Builders would never have bothered to look at something like online referrals. But when the economy comes back, the referral system will still keep working.

From the LA Times: Microchip wristband becomes a theme park essential
"At Precision Dynamics, what started out as simple hospital ID product has become a high-tech admission pass, a cashless debit card, a hotel room key and a way to reunite lost children with parents."

Wally's Comment: Great products often come from combining two different products. In this case the two were the wristband that Precision Dynamics was already producing with RFID chips. Result: a new market. It seems so simple looking back. What could you combine with your product or service?

From the Dallas Morning News: Irving equity firm has bold plan for Saturn auto brand
"Amid the chaos of the car world, Saturn may shine again. General Motors Corp., struggling to restructure, plans to cast off unprofitable Saturn, Saab, Hummer and Pontiac – providing a possible, and highly unusual, opportunity for a private equity firm in Irving. Black Oak LLC wants to convert the 400 or so Saturn dealers in the U.S. to an independent network of retailers that would be free to sell any vehicle they want – much like a department store with multiple lines of clothes. "

Wally's Comment: This particular idea about how to makeover auto dealerships may not end of up working. That's because dealers' sales come mostly from new vehicles, but the profits come mostly from financing and service. Without a brand to differentiate the service department, I'm not sure the profits will be there. But this could be the idea that's the start of a chain of ideas that makes real sense and big profit.

From the Toronto Globe and Mail: Financial restraint leaves nation's banks in sweet spot
"In the outburst of global financial creativity over the past 15 years, Canadian banks have been wallflowers at the party. They lagged in hatching glitzy new financial products. With some exceptions, they stuck to their knitting, constrained by innate conservatism and the discipline of strong regulation. Now, that relative restraint is paying off. The U.S. and overseas banks that pioneered subprime mortgages and collateralized debt obligations are teetering on the brink. And the Canadian wallflowers are looking stable in comparison."

Wally's Comment: During the mortgage and securitization madness, Canadian banks took a beating in the press because they were too conservative. Now they look good. Soon they will look too conservative. I don't think that's so bad. The problem when a bank gets "innovative" with instruments is that it's gambling with your money.

Wally's Working Supervisor's Support Kit is a collection of information and tools to help working supervisors do a better job. It's based on what Wally's learned in over twenty years of supervisory skills training. Click here to check it out.