Hilton Head Business

BUILDING COMMUNITY WOULD BOOST LOWCOUNTRY ECONOMY

When most people think about economics, they think of money, stocks, bonds, banking. It’s easy to forget that at its most basic level, economics really boils down to a study of human behavior.

Charisma, strategy and vision are hallmarks of history’s great leaders, but a newer trait, “emotional intelligence,” has found its way into the workplace. People today have a great sense of independence and a need for empowerment. This means leaders must exercise authority and management skills while also encouraging participation and empowerment.

THE NEXT GENERATION TAKES THE REINS AT COASTAL RESTAURANTS AND BARS GROUP

Depending on how you look at it, the Carolina Restaurants and Bars (CRAB) Group traces its roots back to 2015 or 1973. Why the broad range? Allow us to explain.

The more recent date marks the moment that the Reilley and the Kenneweg families, both renowned for the way they shaped Hilton Head Island’s restaurant scene, made their long-standing partnership official by gathering all of their resources under the banner of the CRAB Group.

When I put pen to paper — and yes, I still write this column the old-fashioned way each month — I try to inform our readers about timely issues in the world of economics. In each column, I attempt to explain how economic behaviors might impact southern Beaufort County. This month, I want to attack a broader topic that has recently captured the attention of the national media: business ethics.  Specifically, I want to examine some ethical principles and moral or ethical dilemmas that present themselves in a business environment.

HOW HARGRAY KEEPS THE HERITAGE WIRED

Since the first Heritage golf tournament in 1969, a lot has changed. Clubheads got bigger, pants got quieter and the ban on anchored putting has kept thousands of PGA Tour professionals from looking like giant goofballs on national TV. And as drives got longer, crowds got bigger.

MORTGAGE NETWORK’S BLUFFTON EXPANSION MIRRORS MARKET

When David Crowell arrived on Hilton Head Island in 1996 to establish a Southeastern division of the Boston-based Mortgage Network, major off-island development was still a distant vision.

As the area’s largest mortgage provider for more than a decade, Crowell and his colleagues have witnessed a sea change in the local real estate market — and helped usher in an era of growth in Bluffton that is now spilling over to Hardeeville, with the planned Latitude Margaritaville and the East Argent tract.

MARLIN OUTDOOR TAKES ON THE OUTDOOR ADVERTISING GIANTS

When Walter Czura decided to launch a billboard advertising company on Hilton Head Island three decades ago, he did so armed with a vision and a plan. Forget that he had no staff, not a single billboard to offer clients, and plenty of competition in a growing outdoor advertising space.  

Yet Czura rolled up his sleeves and went to work, launching Marlin Outdoor Advertising in the mid-1980s. Now, 30-plus years later, Marlin Outdoor hosts billboards that can be seen throughout the South Carolina Lowcountry and beyond.

IS BITCOIN TOO GOOD TO BE TRUE?

Depending on who you ask about one of today’s hottest investing trends, bitcoin is either an even bigger swindle than the purchase of Manhattan or a one-way ticket to becoming rich.

Most local financial advisers don’t think bitcoin will have long-term value and are warning clients to stay away from it. But some adventurous Lowcountry investors are diving in.

SIGNIFICANT INFUSION OF CAPITAL PUTS COMMUNITY BANK BACK ON TRACK TO EXPAND.

The financial crisis of the late 2000s hit the United States hard — especially small community banks. While big banks were bailed out, roughly 85 percent of all financial institutions that failed during the crisis held less than $1 billion in assets. These are the local banks that help small business grow, and locally many simply vanished.

But CoastalStates Bank not only survived the financial crisis, it thrived. And thanks to a fresh infusion of capital, it’s ready to resume the course it set before the world of banking turned upside down.