Locals make waves from coast to coast

Most notably it’s Bass Pro Shops, which often finds its way into this news column – sometimes good news, sometimes bad, always news. The billion-dollar outdoor retailer is pushing new stores from Florida’s southern tip to Sin City, with a little help from city coffers.

The latest news is a shaky financial report out of Oklahoma City, where Bass Pro operates a 110,000-square-foot store in Bricktownn, a downtown historic district. City officials report that the store’s first-year revenues are $5 million short of projections. Bass Pro recorded $33.5 million in 2004 sales against a city consultant’s $38.5 million projection, according to Oklahoma City Urban Renewal Authority documents. Translation: The city received $100,000 less than it expected in sales tax revenues from Bass Pro receipts.

In response, Bass Pro Shops executives said they are pleased with the store’s results, despite the shortfall, because it is a smaller store in a redeveloping downtown.

On the plus side, Bass Pro Shops is credited with luring two new hotels to Oklahoma City. The Bass Pro store and its presence are projected to generate $866,000 in net new direct revenue for the city this year, according to the city’s consultant in 2002.

Oklahoma City financed construction of the approximately $18 million Bass Pro store through a bond issue. It leases the space for $449,000 a year, which, combined with sales tax revenues, pays off the bonds, according to city manager reports posted on the city’s Web site, www.okc.gov.

These numbers give a rare glimpse into the private company’s operations. Bass Pro officials are so tight-lipped about financials, they won’t even brag on how instrumental the operation is to Springfield’s economy. Well, according to information provided to Oklahoma City officials, Bass Pro has an economic impact of $140 million on our city.

Hammons Field effects

Early gate success at Hammons Field has inspired a community across the Arkansas state line to consider building a minor league baseball stadium before receiving commitment from a team. Sound familiar?

Springdale, Ark., officials might be taking a page out of Springfield developer John Q. Hammons’ book as a feasibility study is under way to determine if the northwest Arkansas region has the money and fans to support a minor league baseball team and stadium, as well as a multipurpose arena.

While Springfield also has plans for an arena, the similarities stop there. Springdale’s early proposal – $10 million for a 6,000-seat park – pales in comparison to Springfield’s $35 million, 8,000-seat Hammons Field. Attendance in Springfield has generally been above 7,000 a game.

In other Hammons news, John Q. is targeting Wichita, Kan., as his next hotel market. After hearing about construction of downtown Wichita’s $138 million WaterWalk mixed-use development and arena plans, Hammons has pitched the city an offer to build a five-star hotel. It’s too early to tell, but city subsidies might be part of the deal.

Minnesota-based outdoor retailer Gander Mountain – a competitor to Bass Pro with 82 stores in 14 states – anchors the Wichita project that borders the Arkansas River.

Cavner recruits Franklin Templeton president

In financial adviser Nadia Cavner’s case, it’s not so much what she’s doing outside of Springfield, it’s who she’s bringing in.

Peter Jones, president of Franklin Templeton Distributors Inc., flew to the Ozarks from St. Petersburg, Fla., to speak at Cavner’s seventh annual customer appreciation dinner. At press time, 1,250 of Cavner’s customers – University Plaza’s capacity – were slated to attend the May 5 event where fine dining and the words of the highest-ranking officer in Franklin Templeton’s fund-selling division would be served.

Jones said he was happy to accommodate Cavner’s request. “It’s rare that I do it. I’ve got a lot of colleagues that often are the ones (handling speaking engagements),” he said via telephone from the company’s St. Petersburg headquarters. “This is definitely a special engagement.”

But then again, how could he say no to Cavner, Franklin Templeton’s No. 1 producer in bank divisions? Cavner, a U.S. Bancorp Investments adviser, ranks in the top 1 percent of all 80,000 financial advisers Franklin Templeton does business with, Jones said.

I asked Jones what he thought set Cavner apart.

“I think she’s just better communicating effectively with her clients,” he said, adding that good implementation of financial plans and helping clients achieve their goals are the end results.

While high-ranking, national mutual fund officials are nothing new at Cavner’s dinners, she said it was special this time to bring the president of the fourth-largest investment manager in the United States to Springfield. Franklin Templeton and its subsidiaries have assets under management of more than $400 billion and 7 million shareholders.

“It is truly an honor for us to bring someone of his caliber to town for our clients to able to meet,” Cavner said.

Eric Olson is Springfield Business Journal news editor.

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