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See Our Companywide Awards Ad In Today’s Main Section
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See Our Companywide Awards Ad In Today’s Main Section
D1 02-16-2014 Set: 19:46:41Sent by: [email protected] Business CYANMAGENTAYELLOWBLACK
BusinessThe Dallas Morning News Section D Sunday, February 16, 2014 dallasnews.com
. . . . . . . .
Jobs, real estate & misc.Classified, 9-11D
It’s been so long that we should put thisin 4-inch headlines: Pay raises areback.
In Dallas-Fort Worth, wages and salariesrose 3.5 percent last year, the strongest
showing sincebefore the reces-sion. The increasewas almost threetimes higher thanthe previousyear’s and muchhigher than theU.S. mark.
Dallas easily ranked No. 1among thenation’s 15 largest metros, according to theBureau of Labor Statistics. Raises in D-FWwere more than 1percentage point higherthan the high-flying Silicon Valley region.
It’s risky to read too much into a singletime period and data set, but this doesn’tfeel like a fluke. The local economy has beensolid for several years, with D-FW consis-tently among the leaders in job creation.Many top local companies have been crush-ing it, including AT&T and the new Amer-ican Airlines. Local real estate prices aresoaring, too.
The question was when would all thatmomentum start trickling down to regularworkers? Well, that moment has arrived forthe majority of employees, at least those in
COMMENTARY
Pay raisesresurfacein D-FW 3.5% increase eclipses U.S. mark, but not all hikes created equal
MITCHELLSCHNURMAN
See SALARY Page 6D
“Secretariat couldn’t win the Ken-tucky Derby with ShaquilleO’Neal on his back.” That’s how
John West, a managing director at Re-search Affiliates in Newport Beach, sum-marizes the problem with hedge funds.You can have the fastest horse on Earth,
but he won’t dowell if you makehim carry a heav-ier rider than allthe other horses.
That, ofcourse, is exactlywhat hedge funds
do with their heavy, off-the-scale manage-ment fees.
In case you aren’t familiar with theseintensely managed investment vehicles, atypical hedge fund charges 2 percent inmanagement fees and 20 percent of anyprofits. More fees are added for creatingmultiple-manager “fund of funds” hedgefunds.
Hedge fundsheavy on fees,light on profit
[email protected] BURNS
See OFF Page 4D
performers got to and fromPoints A through Z.
Muv became a Super Bowlspecialist when the big gameand its massive entouragecame here in 2011.
But this year’s game was atall order even by Texas stan-dards.
Mark Shrayber andArthur Veytsmanspent the last two
weeks recovering from theSuper Bowl.
Their hangover didn’t stemfrom too much partying butfrom endless work.
The owners of Muv, a Dal-las-based people-moving andlogistics company, spent eightdays in the frigid New York/New Jersey region making
sure that 2,200 revelers and
Shrayber, 35, and Veyt-sman, 44 formed a limo com-pany with three new LincolnTown Cars in 2001, six daysbefore 9/11. They survived byconcentrating on corporate
clients that needed large orunusual logistical transporta-tion.
The owners changed thename of their company in late2012 from 360 Limo to Muv(pronounced move) to betterrepresent what the companydoes and doesn’t do. It doesn’town vehicles or have drivers. Ituses a network of companiesserving 200 U.S. cities, Canadaand Asia to actually transportpeople in limos, shuttles andmotor coaches.
Louis DeLuca/Staff Photographer
Arthur Veytsman (left) and Mark Shrayber formed theirfirst business when Shrayber was a Plano West junior.
Muv rolling along with big eventsTransportation firmanswers call for SuperBowls, special meetings
CHERYL [email protected]
SeeTRANSPORTATION Page 9D
MuvOwnership: 50-50 partnershipof Mark Shrayber and ArthurVeytsmanHeadquarters: DowntownDallasEmployees: 22 full-time inDallas, Boston, Atlanta, Phoenixand Hawaii.Annual revenue: $8.5 millionforecast for 2014
A briny sea and a broilingsun lick the ganglia of metalpipes holding up a rig in thePersian Gulf. A typhoonthreatens a rig in the SouthPacific. Far from both, MikeMullen keeps track from hisPreston Road office, tendinga fleet of offshore hotels ser-vicing oil rigs around theworld.
Mullen, 63, is a formerNFL linebacker who court-ed thousands of women as abachelor oilman on theOprah Winfrey show in thelate 1990s. Those escapadesstill get headlines whenwriters in Oslo or Singaporediscover him. These days,however, his dramas involvethe frontiers of offshore oiland finance.
With his team of fourworking in Dallas, Mullen
has done well buying oil rigswhen the market is weakand selling them when themarket booms. He wentfrom onshore drilling rigsstacked by Texas bankrupt-cies in the 1980s to offshoredrill ships docked by the re-cession.
Now he’s trying a newbusiness model. Instead ofbuy low/sell high, Mullenand his partners are build-ing spacious, well-appoint-ed accommodation rigs thathe plans to lease for long-term contracts in a boommarket.
Analysts are dividedabout whether it will work.Dallas-based Jim Wicklundof Credit Suisse says the costof offshore oil and naturalgas work is beginning topeak, and he expects oilcompanies to start backingaway.
“Mike’s biggest risk is hebuys or refurbishes a rig andnobody wants it for two orthree years,” he said.
Mullen is upbeat.“Buy and sell has been
very profitable, but it can al-so be very profitable to holdassets long term. Our unitsright now generate $95 mil-lion a year,” he said. “When Ibuy and sell, that’s over. Byowning my own equipmentand operating it, I get theupside from the earning ca-pability. It’s a cash machinevs. a golden asset.”
ENERGY
Rooms on the rigFirm’s offshore hotels let drillers live close to their work
David Woo/Staff Photographer
“Accommodation is now a very, very robust part ofthe business,” says Mike Mullen. “It’s not economicalto transport workers back and forth.”
By JIM LANDERSWashington Bureau
See FIRM Page 4D
D9 02-16-2014 Set: 20:49:23Sent by: [email protected] Business CYANMAGENTAYELLOWBLACK
The Dallas Morning News dallasnews.com Sunday, February 16, 2014 9D
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Shrayber, Muv’s president,is in charge of customer ser-vice and day-to-day opera-tions. Co-founder Veytsmanconcentrates on technology.
“We provide staffing, logis-tics, onsite management,”Shrayber says. “Vehicles are apart of it, but the easiest part.Everything that happens be-forehand — all the technology,all the business processes —that’s what we’re about.”
Muv, which has 22 employ-ees in Dallas, Boston, Atlanta,Phoenix and Hawaii, willgenerate about $8.5 million inrevenue this year, includingnearly a million bucks fromthe Super Bowl and $750,000from the upcoming NCAAFinal Four at AT&T Stadiumin April. The College FootballChampionship here next Jan-uary will keep revenue su-persized.
But Muv also does funkythings such as shuttling per-formers for Cirque du Soleil toand fro while they’re on tourand arranging transportationfor Starbucks’ national meet-ings.
More than 40 peopleworked onsite for seven SuperBowl corporate clients.
“This year’s event presentedseveral extra layers of com-plexity,” Shrayber says. “Threemajor airports, two states, acruise ship, New York Citygridlock traffic and, of course,snow.”
A cruise ship?Yes, Muv’s largest gig was
for the Bud Light Hotel, a1,062-foot Norwegian CruiseLine ship that was turned intoa floating party boat on theHudson River. Muv didn’thandle the luxury liner butmade sure that 1,500 of An-heuser-Busch’s guests andentertainers got where theyneeded to be on time.
This is the fourth year thatDallas-based Fusion Market-ing has relied on Muv for itsBud Light Hotel projects aswell as other big jobs acrossthe country.
“They’re so committed, andthey’re in the trenches withyou,” says Melanie Flanagan,director of program opera-tions at Fusion. “They un-derstand just because you’vedone something one yeardoesn’t mean it’s going to beexactly the same the followingyear.”
PartnershipShrayber and Veytsman got
to know each other after bothof their Jewish families emi-grated from Tashkent, Uzbeki-stan, and moved to northeastDallas.
Veytsman was 18 when he,his parents and older brother
came here in 1987. As the onlyone who could read English,he quickly became the familybreadwinner.
His first job was bringingshopping carts in from theparking lot at the Hypermartstore (a precursor to Wal-Mart’s superstores) in Gar-land.
“They wouldn’t let me rollcarts out with the customersbecause I didn’t speak anyEnglish,” he says.
Veytsman took a six-monthcomputer course at a technical
school and landed a program-ming job with Ernst & Youngin its downtown office.
“Everything I know Ilearned from those five won-derful years,” Veytsman says.“I learned how to take a busi-ness that is not computerizedand automate it. That conceptis still what I do today.”
Shrayber was 11 when hearrived here with his parentsin 1990. “We lived in sub-sidized housing, but I didn’tknow any better,” Shraybersays. “I thought it was the best
thing since sliced bread.”Despite their nine-year age
difference, Veytsman andShrayber became friends andformed their first businesstogether selling computerparts when Veytsman was 26and Shrayber was a 17-year-old junior at Plano West HighSchool.
Shrayber was working at ahigh-paying dot-com compa-ny in early 2001, when he andVeytsman, still at Ernst &Young, decided to start a limocompany.
They launched 360Limoon Sept. 5, 2001. Six days later,the world came to a screech-ing halt.
“We took every singlephone call like it was our lastone,” Shrayber says. “For thefirst three years, Arthur and Icarried these Nextel phones.Every night, we swapped whowas on call. We learned to bezombies.
“Three o’clock in the morn-ing: ‘360 Limo, this is Mark.How may I help you?’ ” hesays sweetly. “You had to benice and remind yourself thatthe phone call meant moneycoming in. As soon as wecould hire an overnight per-son was a great day in ourlives.”
Cold callEarly on, Shrayber cold-
called Janice Wallace, exec-utive assistant to TXU chair-man Erle Nye, hoping to pro-vide limo service when he flewaround the country.
She said no, but Shrayberwouldn’t accept it. Wallacegave 360 a try and liked it.
Little did Wallace realizethat as she set up service with360, she was helping create itsnational network. Wherevershe booked service for herboss, Shrayber and Veytsmanwould fly there in advance,find a local company to han-dle their prized client andthen add a pin to their servicemap.
Wallace, who now works at
Bluescape Resources Co., anoil, gas and minerals companyin Dallas, also helped withword-of-mouth.
“As you might imagine,” shesays, “many people who wouldcome to see Mr. Nye wouldask, ‘Who do you recommendfor ground transportation?’ Iwould always say, ‘You cannotgo wrong with 360. Theywon’t let you down.’ ”
An unexpected windfallcame with an ice storm in2003.
A major coach companythat was supposed to take 500people to Fort Worth, Dallas/Fort Worth InternationalAirport, Oklahoma and Aus-tin from an event at the Re-naissance Hotel in Richard-son bailed out because of theice.
The call for help came in at10 a.m. Muv rounded up fivemotor coaches and had every-one headed home by 1 p.m.
The client was CreativeGroup Inc. of Chicago, whichhired Muv to do a huge em-ployee meeting for Albertsonsthe next year. In a seven-dayperiod, Muv transported19,000 employees to and from13 meeting locations aboard612 motor coaches pulled infrom all over California, Ari-zona and Nevada.
“That was a massive un-dertaking,” says MargaretFoley-Easter, account directorat Creative Group. “They arenimble enough to specializewhere we need them to. Wecan use them on a 200-personmeeting or 10,000-personmeeting.”
But the Big Bang camewith Super Bowl XLV at Jer-ryWorld in 2011.
Muv used 124 vehicles andhad 40 people just workingthe airports.
And then came the ice.“It was the worst five days
of our lives,” Shrayber says.“We both said, ‘That was notworth it.’ Then the hangoverwent away and the checkscame in and we said, ‘Youknow, let’s do that again.’ ”
CHERYL HALL
Transportation company learns to supersizeMark ShrayberTitle: PresidentAge: 35Resides: DallasEducation: Advertising degreefrom the University of Texas inAustin, 2000.Personal: Married to Jaime, sixyears, three sons
Arthur VeytsmanTitle: Co-founderAge: 44Resides: North DallasEducation: Two-year degree ininternational trade, TashkentUniversity, 1987Personal: Married to Inna for 21years, two teenage sons
Continued from Page 1D
Muv
Arthur Veytsman (left) and Mark Shrayber managed Super Bowl transportation for nearly 1,500 guests of Bud Light Hotelin New York earlier this month.
File/Staff Photographer
The company, which had Super Bowl business in Dallas in 2011, had to plow forwardthough the ice. “It was the worst five days of our lives,” Shrayber said.