Home > Entrepreneur Daily > January 25, 2008

Entrepreneur Daily

Entrepreneur's Wines to be Auction Highlight

(Business News)

The wine collection of V. Cheryl Womack, a highly regarded American entrepreneur, will be featured in Aulden Cellars-Sotheby's March 15 sale of the finest and rarest wines.

Womack is president and CEO of The Star Group LLC, a networking forum for women. She is also chair of the nonprofit Leading Women Entrepreneurs of the World.

Womack's offering includes 4,775 bottles from Bordeaux, Burgundy, California and Australia, as well as a quantity of large-format bottles. It's expected to bring $1.2 to 1.6 million. The sale in its entirety is expected to fetch more than $2 million.

"I have always enjoyed wine, but over the past decade of reading, studying and tasting it has become a hobby and a passion of mine," Womack said. "As my collection has grown, I've amassed over 9,000 bottles, which is far more than can be stored in my 5,000-bottle cellar and considerably more than any one person could drink in [her] lifetime."

Womack started her first company, VCW Inc., in the basement of her home. The insurance agency was designed to meet the needs of independent contract truck drivers. Later the same year, she founded Preferred Administrative Services Inc., a third-party claims administrator. Womack built her companies into a $100 million business before selling them in 2002.--Eve Gumpel

Cost of Employee Relocation Rises

(HR and Management)

Thanks to a tough housing market, offering your employees a promotion in another state could get rather pricey. According to Al's Morning Meeting from Poynter Institute, employers are discovering they must pay more to relocate employees. According to a USA Today report, 40 percent of employers surveyed said they'd be willing to spend more than $1,000 to relocate an employee, while one-third said they'd spend more than $2,500, and one in 10 will fork over more than $10,000. In addition to offering money, employers are also extending temporary housing allowances from just two or three months to up to eight months and, in some cases, are offering to purchase the employee's home. Others are allowing employees to commute long-distance and work remotely.

Coffee Wars 2008

(Business News)

We posted recently about Starbucks and what it's doing to attract new customers and hang onto current ones. Now, Dunkin' Donuts is hoping to ramp up its game plan too. In a Q&A with the company's new president-chief brand officer, Will Kussell, AdvertisingAge discovered that Dunkin' Donuts will be introducing a new store design and will be adding hash browns, flatbread sandwiches and sweet tea to the menu. The chain will also be opening in new markets such as Nashville and Las Vegas, and will be expanding in areas including Chicago and Indianapolis. As for Dunkin's marketing plan for 2008, Kussell said it will be more focused. "You'll see focus on what we always do: delivering great quality and speed of service at a fair price. That's how we built the brand over the past several years, and that's the bedrock of the tremendous passionate loyalty," he said.

Kussell points out that Dunkin' Donuts is actually number one for hot coffee and has sold lattes and cappuccinos since 2003. To make customers more aware of that fact, he said the chain will be moving espresso stations to more prominent spots.