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Sweet marketing music

Tanner Montague came to town from Seattle having never owned his own music venue before. He’s a musician himself, so he has a pretty good sense of good music, but he also wandered into a crowded music scene filled with concert venues large and small.But the owner of Green Room thinks he found a void in the market. It’s lacking, he says, in places serving between 200 and 500 people, a sweet spot he thinks could be a draw for both some national acts not quite big enough yet for arena gigs and local acts looking for a launching pad.“I felt that size would do well in the city to offer more options,” he says. “My goal was to A, bring another option for national acts but then, B, have a great spot for local bands to start.”Right or wrong, something seems to be working, he says. He’s got a full calendar of concerts booked out several months. How did he, as a newcomer to the market in an industry filled with competition, get the attention of the local concertgoer?

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by Andrew Tellijohn
October 2005

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Benefits


Roth 401(k) starts
Jan. 1, generating
benefits buzz

The new Roth 401(k) has people in the employee benefits business talking. Authorized by Congress in 2001, but scheduled to start Jan. 1, 2006, it works like a traditional 401(k) but money goes in after-tax, not pre-tax.

“When you take the money out you do not have to pay income taxes on it,” explains Nicole Middendorf of Strategic Financial in Plymouth. In that way it mimics the Roth IRA, which she calls “very popular” among her clients.

But it does not have the income requirements of a Roth IRA (a single person making over $110,000 is not eligible) nor the low contribution limit ($4,000 per year in 2005.) If your company offers it, employees could put up to $15,000 next year into the Roth 401(k).

Middendorf says companies are considering adding the Roth 401(k) to their offerings even though it will add some costs, both for administrative fees and for educating employees. “It’s something new and people really like the Roth,” she says.

Nicole Middendorf, Strategic Financial: 763.208.0482; nicole.middendorf@lpl.com; www.helpingyouinvest.com