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Greenville Business Magazine

#YeahTHATAgenda: BMW Beats Tesla, Cantina 76, Opportunity Zones in Greer, Eating Gene-Edited Animals

Dec 18, 2018 07:10AM ● By Chris Haire
Cantina 76 And The Next Wave Of South Carolina-Born Franchises: I recently had the chance to talk Chad Elsey, one of the founders and owners of Cantina 76, about the growth of the chain, and he said he and his partners envisioned expanding to five restaurants, something they’ve succeeded in doing with locations in Columbia, Kiawah Island, Greenville, and now Mt. Pleasant. (Columbia Business Magazine)

Trump Administration Blocks Tax Break for Alcohol Companies (WSJ)

Statewide Industrial Demand Increases, CRE Q3 2018: Key Takeaways
  • "Statewide industrial activity is rapidly increasing; South Carolina industrial properties absorbed 4.17 million square feet during the third quarter of 2018. 
  • Rental rates are expected to continue rising as more quality space is delivered statewide.
  • Positive industrial activity is expected to continue into 2019 as the demand for manufacturing facilities and warehouses increases." (Colliers International)
BMW and Porsche Just Beat Tesla to Three-Minute Charge (Bloomberg)

Gene-edited farm animals are coming. Will we eat them? (WSJ)

Development Opportunities, Opportunity Zones in Greer: "The Opportunity Zones program offers investors the following incentives for putting their capital to work in low-income communities: 
  • Investors can roll existing capital gains into Opportunity Funds with no up-front tax bill.
  • A 5 year holding increases the rolled-over capital gains basis by 10%
  • A 7 year holding increases the rolled-over capital gain investment basis 5% for a total of 15%
  • Investors can defer their original tax bill until December 31, 2026 at the latest, or until they sell their Opportunity Fund investments, if earlier.
  • Opportunity fund investments held in the fund for at least 10 years are not taxed for capital gains." (City of Greer)

Four Tips For Giving The Gift Of Appreciation At Work: "In the world of work, it’s often customary to offer a gift of thanks to team members. Perhaps a Starbucks gift card or a box of holiday cookies. These are nice gestures, but when it comes to employee recognition, something personal can be more meaningful." (Greenville Business Magazine)

The Wire
Coldwell Banker Commercial Caine Announces November 2018 TransactionsPublic Service

Commission Approves $14.6B SCANA-Dominion Merger

NAI Charleston Assists In Flymen Fishing Company's Relocation To S.C.

Ingevity, Employees Pledge More Than $1,000,000 Through Annual Trident United Way Campaign

25 Fastest Growing Companies
No.15: WCM Global Wealth LLC

Year Founded: 2011
Founder: Erik C. Weir
Headquarters location: Greenville
Number of other locations: 2
Number of employees (start): 3
Number of employees (present): 18 
WCM Global Wealth, LLC is a diversified financial services firm operating as a Registered Investment Adviser, specialized in providing exclusive financial products and services to high net worth individuals and businesses. As a diversified financial services firm, WCM offers a combination of rigorous planning and unique investment opportunities, including wealth management, private investment vehicles, co-development services and planning advice.

What’s in store for your company?
Erik C. Weir (Principal and manager): WCM has always made a dedicated effort to hire first-class employees that can acquire and execute diverse, one-of-a-kind projects. We plan to continue this effort into 2018 and beyond since the primary focus of our business is to bring on knowledgeable, experienced teammates as we seek to provide clients with best-in-class service and direct access to professionals and their talents.

Additionally, we have a number of unique investment opportunities in both real estate and film on the horizon or already in progress for this year and leading into 2019.

What are your firm’s biggest challenges and how do you plan to overcome them?
A challenge I think many companies go through is being open to internal change. From experience, many executives get stuck in the same routine and find it difficult to create new and innovative protocols to solve issues related to internal communication or overall employee satisfaction. At WCM, we seek to provide a work environment that not only stimulates creativity but also reinforces our core values ensuring all of our employees feel valued and appreciated.  

What trends and innovations do you see down the line for your industry?
The financial services industry continues to evolve through the introduction of new technology and communication tools. We view these advancements as an opportunity to enhance our client communications, but not as a replacement to our fundamental goal of developing personal relationships with each of our clients.

Strong investor demand continues for alternative asset classes, and this holds true from individual investors to large endowments, foundations and pensions.

What word of advice, if any, has shaped your career and who gave it or where did you read it?
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” — Thomas Edison

What are you doing to make sure your company sticks around for the long haul?
Regardless of the economic environment we face, the sustainability of our business relies on our ability to serve clients through proactive advice and long-term investment opportunities that meet their needs and objectives. As we continue to focus on relationships, transparency, and results, the growth of our business will take care of itself.