Once the traffic stop is converted to a four-way intersection, people will be able to drive directly in and out of the SRC complex via Lone Pine. In February, SRC is scheduled to begin conversion on the traffic stop at East Sunshine and Lone Pine. Plus, some of those retiring baby boomers may want to downsize, so they’ll need secure places to store their things.ĭick Moger, SRC executive vice president and a leader of SRC Realty, says the southeast corner of the property will be a good spot for retail and restaurant tenants, especially after two planned improvements. It’s a smart investment, Stack says, because storage units provide stable lines of income with limited overhead. Over on the north side of the property, SRC Realty will start building storage facilities this spring. In total, it’s 43 acres in a desirable Springfield location, and SRC is ready to develop it. The existing structure on the property-a 325,000-square-foot building-became home to four SRC entities: Ceramex, SRC Electrical, Global Recovery Corp. SRC offered 81 percent of the listed price the seller accepted because SRC could close quickly. With this strategy in mind, a new subsidiary, SRC Realty, is leading the effort to capitalize on existing SRC properties and acquire a few additional ones, all with the goal of creating new revenue streams. People may put off purchasing big-ticket items like cars or boats, but historically, he says they’ve continued to make rent and mortgage payments. Rental income is a good bet, Stack says, even during recessions. While SRC has diversified through strategic partnerships in the past, this plan allows for new moves into commercial real estate, along with key expansions of SRC’s core business, manufacturing. That’s where the $100 million plan comes in. If you’ve read Stack’s bestselling management book, The Great Game of Business, you might guess that in such conditions, he’d call for diversification, and you’d be right. That is very troublesome for us, and we don’t see anything being done about it now.”Īs a result, he predicts a labor market with fewer available workers to support economic and societal needs. So, Stack says: “You’ll have 71 million people sucking down healthcare, social costs, social security. New workers from subsequent generations will continue to enter the labor force, but there aren’t enough of them to replace the people who are retiring. “The biggest problem with 2030 is baby boomers will be sidelined. He’s talking about something even bigger in 2030. It all started, he says, because SRC spotted a looming problem: a worker shortage, and he’s not just talking about the shortage that’s currently stressing C-suites. But Stack really gets excited when he talks about why and how the plan came to be. It’s a splashy number-$100 million-and it grabs your attention. This is a little like the vibe you get when you talk to Jack Stack about the $100 million plan his company, SRC Holdings Corp., is working toward. As long as he’d planned properly, if he’d identified the problems and figured out how to manage them, filming was a straightforward matter of executing his vision. He put so much energy into the planning process-dissecting the script, perfecting the storyboard and plotting every camera angle-that by the time he started filming, the movie already existed in his head. According to Hollywood lore, Alfred Hitchcock essentially finished his movies before he ever stepped on set to film them.
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