Albert Hendershot Rotarian Jackie Chaney (left) with Albert & April Hendershot

Survival demands
coping with change

April 17, 2007

Albert Hendershot, CEO of COMAR, Inc., unsettled Putnam Rotarians today with a forecast at once stark and gloomy, but also exciting and challenging.

"This is a time of exceptional opportunity," he said, "but you must get ready."

Hendershot looked back eight years: "What do you have today that you did not have in 1999?" he asked.

His listeners responded with PDAs, GPS systems, e-Bay, and e-mail. There are also growing concerns for personal security in recent years.

"Now jump forward to 2015," he said.

"Sixty percent of the work force could retire today," he said. "Over 300,000 workers are retiring every month."

Economic changes? "Eight to eleven trillion dollars will move from stocks into guaranteed income securities.

"The average income increase by 2015 will be forty percent.

"We have been an arrogant nation," he said. "If we do not become involved in the global economy, we will have a rate of inflation the likes of which we have never seen before. Retirements will be lost.

Home values? "Get in the home now that you want to live in [in 2015]."

The speaker cited the sad story of a couple in another country who saved all their working life to buy a car. By the time they retired, the savings would only buy a loaf of bread. The country had not faced the economic changes taking place in the rest of the world.

"Terrorism and climate-change are global problems," said Hendershot. "The United States cannot be the policeman of the world. We've got to change the way we are doing it.

"$2,087 per person has been spent on the restoration of New Orleans. Over 120 people each week are moving to the coast. . . . By 2012 we will have seven [more Hurricane] Katrinas.

"Thirty-eight percent of the American population either register or vote as independents. The major parties are driving in different directions. Neither party has the answers to the major problems facing us," Hendershot said.

"Ask about our energy policy every time you get a chance. Nobody has one."

Thirty-two million workers will need to be replaced by 2015. "Get ready for more corporate acquisitions. We will have to do more with less."

At the same time, there will be opportunities, especially in middle management.

"It's time to face the problems," he said. "We have enjoyed the fruits of our nation. Now it is time to replant."

Hendershot's COMAR, Inc., publishes five state magazines, including West Virginia Executive, and Metro Valley -- "a lifestyle magazine serving Cabell, Kanawha, Mason & Putnam counties."

The flagship Executive has 20,000 readers, in 40 states and 17 foreign countries.

With all the negatives tossed about, said publisher Hendershot, "we had businesses that were doing well.

"That's why we started West Virginia Executive. We wanted to demonstrate good people, good core values, and good universities.

"Reflect back to a time when someone said you were doing a good job. What did that mean? How many times have you done that?

"Belief transfers," he said.