Reporter's Notebook
Notes and thoughts from the travels of Virginia Business writers and editors

Virginia Business
January 2006

The Martin Agency has no sick leave policy. It also has no rules about taking office equipment home. And the advertising agency’s officers, who make up more than 40 percent of its 350 employees, have no restrictions on their vacation days. The absence of rules governing employee behavior is the result of an experiment begun 10 years ago by John Adams, the agency’s CEO for the past 14 years. “So far, the experiment has worked very, very well,” Adams said in a recent address to the Virginia Council of CEOs. In fact, the number of vacation days taken by officers dropped after restrictions were removed. The changes were the result of Adams’ decision to put more emphasis on the agency’s values than on a set of rules. He wanted to communicate the agency’s trust in its employees. That trust has been rewarded in the Richmond agency’s steady climb in its industry. Adweek has named The Martin Agency “Agency of the Year” five times. It has handled national accounts such as GEICO, UPS, Four Eyes, Hanes and Coca-Cola. Adams said that employees will respond if executives demonstrate trust, emotion, focus and conviction. “Set the bar high,” Adams said. People are limited “not by their capacity but what they think they can’t do.”

The Richmond-based Virginia Council of CEOs, by the way, is also making news. The group’s executive director, Scot McRoberts, expected it to have more than 100 members by January. The organization, begun in 2002, had only 35 members in March 2004. Now it is preparing to offer its services beyond the Richmond area. Membership in the council is limited to the top executives of companies with annual gross revenues of at least $1 million. The CEOs meet privately in roundtable groups of 10 to hash out common issues that they face as the leaders of their companies. The council expects to offer roundtables in Charlottesville and the Tidewater area beginning in March.

Blacksburg, Virginia Tech’s hometown, is one of about 20 college towns that recently caught the attention of Forbes magazine publisher Rich Karlgaard. In the magazine’s Nov. 28 issue, Karlgaard talked about the potential advantages of investing in America’s college towns. “College towns are the best bargain in U.S. real estate, the ideal mix of low prices, culture, fun and high-tech growth.” He touted the benefits of Blacksburg along with Bozeman, Mont., (home of Montana State); State College, Pa., (Penn State); College Station, Texas, (Texas A&M); and Madison, Wis. (University of Wisconsin). “It’s not surprising that one of America’s top incubators, Luna Technologies, chose to locate in Blacksburg ….Including Luna, Virginia Tech Corporate Research Center houses 121 high-tech startups.