Download presentations from the event.
MARIN COUNTY -- The North Bay Business Journal's 2010 Impact Marin conference from 8 to 10:30 a.m. Thursday, March 11 at the Embassy Suites is packed with information designed to help businesses navigate the economy and come to a decision on what is arguably the most important issue facing the area, Marin Clean Energy.
The event includes a community panel consisting of:
Russ Colombo, president and CEO of Bank of Marin, who will address banking and finance in the current economy.
Steve Jannicelli, senior manager, business consulting of Moss Adams, who will address how businesses can succeed in this environment.
Matthew Hymel, Marin County administrator, who will discuss the county and statewide fiscal challenges.
Following the panel, attendees will have the opportunity to hear from both sides of the Marin Clean Energy issue from Dawn Weisz, interim director of the Marin Energy Authority, and former Assemblyman Joe Nation, representing the Common Sense Coalition, an organization formed in opposition to the MEA’s plan.
To attend, contact Linda Perkins at 707-521-5264 or firstname.lastname@example.org. Tickets are $39 per person or $390 for a table of 10 and include continental breakfast.
Here's what the community panelists will address:
Mr. Colombo: “I think people have adjusted,” he said about the current economy.
He said businesses looking for loans need to have things thought out.
In addition to knowing the primary and secondary source of repayment and cash flow and collateral properly put together, he said bankers want to know that the borrower has plans in case of another downturn.
“Bankers are always skeptical,” he said. “It really helps to plan that way because everything doesn’t go as planned. It shows that you have thought through the down cycle.”
Those are the primary things, he said.
“Understanding the markets and understanding the challenges that exist are key.”
He said, additionally, that business owners should know their banker. That way, they will understand about expansion of the business and about the cash flow.
“Relationship banking is really important in this climate,” he said.
He understands how frustrated people are with lack of lending.
“There has been a lot of talk about banks not lending, but there is a contradiction,” he said.
It is easy for Washington to say, “Hey, lend,” but with regulators saying banks have to be more conservative, it puts them in a tough position, he said.
“I think it makes sense for regulators to tell banks to be more cautious and to properly secure their loans,” he said.
Bank of Marin has assets totaling more than $1 billion and is the second-largest bank in Marin.
Mr. Jannicelli: He said a very important topic to think about now is business risks and opportunities in the “new reality.”
He said a lot of folks a year ago were holding on and not changing how they were structured and now are just cost cutting.