The Reynolds Center has announced its 2008 fall workshop schedule.
Select a workshop and register from the drop-down menu below.
The Reynolds Center has opened registration for select 2008 free online seminars.
Topics include:
*Intermediate Business Journalism
*Covering Private Companies
*Business Journalism Boot Camp
It's easy to chronicle the 'Madness' that the NCAA basketball tournament breeds among legions of fans late March each year. How that translates into the business world is not so clear.
The short-term impact for restaurants and merchandise chains across the country and in host cities during the tournament can indeed be a boon. In St. Louis, this year's site of the Final Four, retailers are hopeful of a local economic boost.
"Generally, retailers are pretty optimistic," says Tim McLaughlin, business reporter with The St. Louis Post-Dispatch. "But economists will admit to you it's harder to gather information about what's happening."
To get a better grasp on the economic impact, turn to the local Chamber of Commerce. Oftentimes, this organization will release a gross economic impact number prior to major event.
To offer a comparison story on whether that number is realized, research the Chamber's previous promises before major events and what the city actually raked in.
"Look at past events and extrapolate what it could be," McLaughlin suggests. "A big event may crowd out routine business activity. There are some net gains and subtractions from the Chamber's number.
"They estimate a total number, but from that there are costs such as extra security through law enforcement. That number isn't something that's going to be highlighted by the Chamber."
Keep the entire year in perspective when breaking down the economic impact of one major sporting event on businesses in various communities.
"You don't want to over-dramatize what's going on," McLaughlin says. "A four- or five-day period is a fraction of 1 percent for the whole year. In the grand scheme of things, it's a drop in the bucket."
A better indicator of how people are actually spending their money is compiled through surveys of tourists and locals during and after the event. McLaughlin says a composite of 600 people can help provide an accurate reflection. But just because they are spending the money, that doesn't mean it is only benefiting the host city.
"Money spent here may not stick in the local economy," writes McLaughlin in the Post-Dispatch. "National hotel, restaurant and car rental chains, for example, will collect Final Four money spent here but siphon it back to the home office."
The stories of lost productivity at companies due to game distractions and office pools across the country have made the rounds in virtually every newspaper over the years.
Instead of reporting on the millions that U.S. businesses lost, look at what they are doing to curtail it. Investigate whether the organizations you cover are blocking Web sites, restricting vacation time or prohibiting office pools.
"Look at what length companies go in order to limit inefficiency," McLaughlin says. "That tells you a little bit about the company culture."
Copyright © 2008 Donald W. Reynolds National Center for Business Journalism
