Financial
Gay CEO on navigating business challenges during pandemic
Embracing diversity, resisting ‘Old World’ thinking are keys to success for Chicago’s Skolnik Industries
(Editor’s note: This is the first in a multi-part summer series of stories taking a closer look at how a group of diverse LGBTQ entrepreneurs survived and thrived during the pandemic. The series is sponsored by the National LGBT Chamber of Commerce.)
Walking his sparky chihuahua-mix Finnegan with his husband through downtown Chicago is one way Skolnik Industries President Dean Ricker relaxes while successfully guiding a multimillion-dollar corporation through a pandemic.
Ricker told the Blade that diversity was their key to success: diverse products and diverse perspectives.
Chicago-based Skolnik manufactures carbon and stainless steel drums for containing critical contents from hazardous materials to California wines.
While businesses across the United States and the world are experiencing inflation and other pandemic economic impacts, American manufacturing has also been on the decline for decades.
But Ricker finds it important to resist “old world” thinking when confronting current challenges. He explained to the Blade how listening to a variety of perspectives was Skolnik’s not-so-secret ingredient to surviving the pandemic crisis.
“We don’t have to think and operate like it’s 1950,” Ricker said. “As someone who is gay and a leader of a company, I bring a unique perspective to a table where people of all backgrounds are supported.”
National LGBT Chamber of Commerce (NGLCC) Co-founder and President Justin Nelson also told the Blade a commitment to diversity can be critical to economic recovery.
“As the economy regains its footing in the months ahead, leading with a commitment to diversity – as a business owner and a consumer – can help supercharge our economy and our community back to where we should be with our $917 billion purchasing power,” Nelson said.
Ricker added that what set Skolnik apart was “we’re quirky.”
The upbeat executive who describes Finnegan as “the cutest dog in the whole world” is proud that his company strives for a culture where “people of all backgrounds are supported.”
And this inclusive atmosphere proved critical during the COVID-19 crisis.
‘Supplies are down, prices are up’
According to the Federal Reserve Bank of Minneapolis, the “Rust Belt” — industrial manufacturing centers located primarily in the Midwest — began its long, downward spiral after 1950 and experienced a steep decline into the 1980s.
Across this 30-year period, Rust Belt employment fell around 28 percent while manufacturing jobs fell nearly 34 percent.
The Atlanta Fed notes this decline sharply impacted industrial centers across the country, such as in Baltimore, Pittsburgh, Buffalo, Detroit, and Chicago, as well as across the U.S. economy as a whole.
While the current pandemic economic pressures such as labor shortages and supply chain issues were initially focused in the hospitality and food industries, Skolnik noted how challenges spread to the manufacturing sector as well.
In March they tweeted: “Historic trucker shortages, port logjams and labor strikes are just some of the elements that are bringing the wine industry to its knees this year. Supplies are down, and prices are up, across the board.”
And yet, while the pandemic forced many businesses to make tough decisions, Skolnik persevered and thrived.
Zoominfo reports more than $30 million in revenue for Skolnik and more than 200 employees, while Glassdoor, a website where current and former employees anonymously review their employers, states 64 percent of respondents would recommend Skolnik to a friend.
“What is important is the role that diversity plays in the organization,” Ricker said. “You’re not myopic in your thinking.”
LGBTQ inclusivity helps the economy
Ricker, a Crain’s Chicago Business Notable LGBTQ Executive for 2019, said having a “rainbow” of people at the table from different backgrounds and with diverse experiences helped diversify their thinking and their markets — a tactic critical to their survival in an otherwise challenging industry.
“When one industry goes down, like automotive,” he explained. “We saw a pick up in the pharmaceutical industry. During the pandemic we did a lot of packaging related to vaccines and hand sanitizer.”
And research indicates when businesses are LGBTQ inclusive, for example, it has a positive impact on the economy as a whole.
University of Massachusetts Economics Professor M.V. Lee Badgett, a Williams Institute Distinguished Scholar and author of “The Economic Case for LGBT Equality: Why Fair and Equal Treatment Benefits Us All” told the Blade that for an economy to perform well it needs everyone to contribute as much as they have to offer.
“The problem with exclusion is it holds LGBTQI people back,” explained Badgett, who was named one of the 20 most powerful lesbians in academia by Curve Magazine in 2008. “If they aren’t able to develop their knowledge, skills and creativity, then they are not able to contribute as much as they could potentially to the overall economy.”
Badgett said challenges faced by LGBTQ youth, such as bullying and discrimination in housing, employment, and health care, are barriers that keep them from full economic participation over time and can ultimately harm the economy as a whole.
She pointed to the current labor shortage cited by many businesses as a significant pandemic challenge, and explained how bullying in schools can lead to workforce exclusion.
“If LGBT students face bullying in schools, they have lower GPAs, drop out, and are less likely to go to college. A bullying environment is not a good learning environment, and that’s a key tie to employment,” Badgett said. “They will not have the necessary skills and knowledge to take into the world.”
This, in turn, reduces the pool of available workers, a problem further exacerbated by pandemic pressures on disparities already faced particularly by LGBTQ people of color.
“When we can [instead] reduce the level of exclusion, we make it possible for people to put their whole selves into their job and that has a positive impact on everyone,” Badgett said.
“It’s good for LGBT people to be more included economically for their health and long-term economic status,” she added. “We think that will pay dividends over time as the economy prospers.”
NGLCC provided sense of community in a crisis
As a gay business executive, Ricker also noted the important role the NGLCC played in helping Skolnik weather the COVID-19 crisis.
It provided a space where other queer business leaders could gather and problem-solve on a national level. It was also a chance to gain support and learn from each other.
“Just watching other companies going through the same thing we were and hearing their stories served as an inspiration,” he said. “One challenge right now is hiring people. Highlighting that we’re an NGLCC member and an LGBTQ-owned business helps.”
NGLCC’s 2017 economic report found companies that engaged in Pride activities saw an increase in diverse job applicants, new diverse supply chain applicants, and a deeper LGBTQ consumer loyalty.
Ricker added highlighting that membership lets LGBTQ job seekers know Skolnik is a queer-supportive place to work.
“There are a lot of businesses out there where you can’t be yourself,” he said. “I saw our company as an oasis for talented people where they can be themselves. In manufacturing there are unfortunately a lot of ‘old world’ attitudes out there.”
But despite the pandemic and historical challenges his industry faces, Ricker is still excited about the future and a possible resurgence in American manufacturing.
“Supply challenges have highlighted the importance of American manufacturing,” Ricker said. “We still need to make things here in the U.S. And it’s exciting that an LGBTQ-owned business can be a part of that.”
The idea of a recovering economy and the future opportunities it brings for his industry really “jazzes him up,” along with enjoying a nice glass of a California Cabernet aged in one of Skolnik’s barrels — the flavor sweetened from “knowing that we had something to do with its production.”
A group of Skolnik Industries employees (Photo courtesy Skolnick Industries)
Real Estate
Avoiding the basement blahs
Renovating a lower level can add significant value to your home
Sadly, we have waved goodbye to summer and are now slowly shifting from enjoying outdoor activities to things we can do indoors. If you are lucky enough to have a basement, renovating it into livable space can be a great winter project to dramatically increase the functionality and value of your home.
Basements come with unique challenges due to their location below ground level, and overlooking critical aspects can lead to long-term problems. They are particularly vulnerable to dampness. Failure to address moisture can lead to mold growth, structural damage, and health hazards.
To tackle moisture control, start by checking for water leaks or seepage through the walls and floor. If moisture is present, you may need to apply waterproofing solutions to the exterior or interior walls of your home. Installing a vapor barrier is advisable to prevent condensation from damaging insulation and walls.
Make sure the basement has proper drainage systems, such as a sump pump and foundation drainage. The sump pump can remove water that collects around the foundation, while an effective drainage system redirects water away from the home. Installing a dehumidifier can also help.
Basements also tend to be colder than the rest of the house. Proper insulation in the walls and floor helps regulate temperature, reducing heating costs in winter and maintaining a cool, comfortable, and energy efficient environment in summer. Insulating the ceiling can reduce noise transfer between the basement and the upper floors, making the space quieter and more private.
Before any significant work begins, it’s crucial to assess the basement’s structural integrity. This includes checking the foundation for cracks or signs of shifting, which could indicate a bigger problem, particular with the plethora of old houses in the area.
If you notice any large cracks or signs of movement, consult a structural engineer or foundation expert to determine whether repairs are needed. Small cracks can be sealed, but larger ones may require reinforcement or more extensive foundation work.
Depending on local building codes, you may need to install egress windows if you are adding bedrooms or turning the basement into a rental unit. Egress windows provide an escape route in case of emergencies and allow more natural light to enter the space, making it feel more welcoming.
When adding a bathroom or kitchen, you’ll find that installing plumbing in a basement can be more challenging because of the need to pump wastewater upwards. You may need a macerating toilet system or a sewage ejector pump to manage this. I learned this the first time I found that, contrary to what we have been told, water can indeed travel up.
Adding more outlets, lighting, appliances, and ventilation systems may necessitate electrical upgrades. Since basements are often unfinished, you may have exposed wiring, which should be properly enclosed or rerouted to meet code. Depending on the scope of the renovation, you might need to upgrade your home’s electrical panel to handle the increased demand.
Proper ventilation is often overlooked in basement renovations but is essential for maintaining air quality and preventing the buildup of stale air or harmful gases. Installing mechanical ventilation, such as an HRV (Heat Recovery Ventilator) or an ERV (Energy Recovery Ventilator), can help ensure a consistent flow of fresh air in the basement.
Radon, a naturally occurring radioactive gas, can enter homes through cracks in the foundation. Since radon exposure is a leading cause of lung cancer, it’s wise to test for it before beginning the renovation. If elevated levels are detected, you may need to install a mitigation system.
Once the technical aspects are addressed, focus on creating a functional and aesthetically pleasing layout. The design of your basement will depend on how you plan to use the space, whether it’s a guest room, home theater, office, workout area, or game room.
Since natural light is limited in basements, it is important to plan your lighting carefully. Recessed lighting is a popular choice because it doesn’t take up ceiling space, but you should also consider adding floor lamps and sconces to make the space feel brighter and more inviting.
Choose flooring that can withstand moisture, such as vinyl planks, tile, or sealed concrete. Since basements can double as storage areas, consider incorporating built-in shelving, closets, or under-stair storage to maximize the available space.
Whether doing it yourself or hiring professionals, renovating a basement is a rewarding project that can add significant value to your home, but it comes with challenges. From moisture control and insulation to plumbing and air quality, careful planning is crucial to ensure a comfortable, functional, and safe space to enjoy indoor hobbies and emerge from winter free from the Basement Blahs.
Valerie M. Blake is a licensed Associate Broker in DC, MD & VA with RLAH Real Estate / @properties. Call or text her at (202) 246-8602, email her at DCHomeQuest.com, or follow her on Facebook at TheRealst8ofAffairs.
As interest rates begin to cool off for the first time in a few years, prospective “first time homebuyers” may have their wheels spinning again about whether it’s a good idea to buy a home. Still, the idea of home ownership may feel out of reach for some; historically, the prevalence of homeowners has been low in certain subsets of the population. It wasn’t until the 1900’s that laws were enacted to grant women and people of color equal access to property ownership:
1968: The Fair Housing Act prohibited discrimination in home buying, homeownership, and rental real estate based on sex, race, religion, and other protected classes.
1974: The Equal Credit Opportunity Act (ECOA) prohibited discrimination in consumer credit practices based on sex, marital status, and other factors. This made it easier for women to buy homes by allowing them to apply for loans and credit without a male co-signer.
Even with these laws in place, socioeconomic disparities and lack of access to generational wealth have slowed progress in this area. Generational wealth occurs when resources are passed on to family members when the family homeowner or the head of household passes away. In areas like D.C. this type of asset can be worth hundreds of thousands of dollars, and can be used to pay off student loans, help younger members of the family purchase their first or second homes wherever they live, or be invested in other ways.
While this may have been the key to buying property in the past, people today are pursuing homeownership for themselves and their own means — especially women. Many real estate agents in the D.C. metro area can testify that they are working with individuals who are the first in their family — and often the first woman in their family — to buy a home. The days of waiting until marriage to invest in property are slipping away; these days people marry later, may not stay married, or may choose not to marry at all. “I didn’t consider buying a home at first, because I didn’t really see myself as a “typical” homeowner; I was single and wasn’t sitting on a stockpile of cash,” says Jordyn White, a D.C. resident who bought her first home at 29. “A trusted friend encouraged me to explore first-time homebuyer programs, and I’m glad I did. My monthly mortgage payment is similar to what I would likely pay to rent in the same area, and now I have created a path to generational wealth for my children.”
The rates of homeownership for people of color and women are steadily rising. A 2023 Pew Research Center survey using 2022 census data found that single women owned 58 percent of the nearly 35.2 million homes owned by unmarried Americans, while single men owned 42 percent. Single homeowners have peace of mind in knowing that they own assets by themselves.
Compass real estate agent Katri Hunter has helped many of her clients buy their first home. She reports, “I find more and more that I have single clients that approach me in their early/mid-30’s and say that they thought they would be buying their first property with a significant other and then decided to take things into their own hands … I tell people all the time to consult an estate planner when and if they do decide to get married to discuss pre-marital assets and keeping those in their own name. I think people really take more pride and ownership buying property on their own rather than something they dread.”
Katri Hunter can be reached at [email protected]. Joseph Hudson is a referral agent with Metro Referrals. He can be reached at 703-587-0597 or [email protected]
Real Estate
Ensuring safer water in rentals with ‘Lead Free DC’ initiative
An excellent opportunity for landlords to replace old service lines
Maintaining a safe and healthy environment for your tenants is a top priority as a landlord in the District of Columbia. One critical aspect of this responsibility is ensuring the water in your rental properties is free from lead contamination. The “Lead-Free DC” initiative, led by DC Water and supported by the District of Columbia, offers an excellent opportunity for landlords to replace old lead service lines and contribute to the broader effort of safeguarding public health.
Why Lead-Free Water Matters
Lead exposure is a serious health concern, particularly for young children and pregnant women. However, even in rental properties where no small children currently reside, lead in drinking water poses an ongoing risk to all occupants. Long-term exposure to lead can lead to various health issues, including cognitive impairment, cardiovascular problems, and developmental delays. As such, addressing lead pipes is not just a matter of compliance but a strategic investment in the long-term value and safety of your property.
Resources Available to Landlords
The District of Columbia, through DC Water’s “Lead-Free DC” initiative, provides several resources to help landlords replace lead service lines:
1. Free Pipe Replacement: DC Water offers free replacement of lead pipes on public property, such as the pipes running under streets and sidewalks. This service is available to all property owners, including landlords, and significantly reduces the cost burden of making your rental property lead-free.
2. Partial Replacement Assistance: For lead pipes on private property (e.g., those running from the property line to your building), DC Water offers partial financial assistance. The cost to replace these pipes is typically shared between DC Water and the property owner, reducing the overall expense.
3. DC Lead Pipe Replacement Assistance Program (LPRAP): This program specifically helps low-income residents replace lead pipes on their property at no cost. While it primarily targets homeowners, landlords with qualifying properties may also benefit from this program.
4. Federal Programs: The U.S. Environmental Protection Agency (EPA) and the Department of Housing and Urban Development (HUD) provide grants and low-interest loans to property owners for lead hazard reduction, including pipe replacement. These programs can further alleviate the financial burden associated with removing lead from your rental properties.
Strategic Value of Going Lead-Free
Investing in lead pipe replacement is a strategic move that offers significant long-term benefits:
• Increased Property Value: As awareness of lead-related health risks grows, properties with modern, lead-free infrastructure are likely to become more desirable and command higher market values.
• Tenant Retention and Attraction: Tenants increasingly prioritize health and safety in their living environments. A lead-free property can be a key selling point, helping you retain current tenants and attract new ones.
• Regulatory Compliance: As regulations surrounding lead in drinking water continue to tighten, staying ahead of the curve can save you from potential legal issues and costly retrofits in the future.
• Community Contribution: By participating in the “Lead-Free DC” initiative, you are not only protecting your tenants but also contributing to the broader effort of making the District of Columbia a healthier place to live.
Understanding Potential Costs
While much of the pipe replacement work is covered by DC Water and other programs, there may be some additional costs to consider. For example, once the old lead pipes are removed, the area where the pipes were accessed might need restoration. This could include patching up driveways, sidewalks, or landscaping around the foundation of your property. Although these costs are relatively minor compared to the health and safety benefits, it’s essential to budget for them when planning the work.
A “No-Brainer” Decision for Landlords
Replacing lead pipes is more than just a necessary update—it’s a no-brainer decision that will pay dividends in the long run. The peace of mind that comes from knowing your rental property is free from lead risks is invaluable, and the potential increase in property value and tenant satisfaction makes it a wise investment.
Take advantage of the resources available through the “Lead-Free DC” initiative and other programs to ensure your rental properties offer safe, lead-free water for all tenants, now and in the future.
Further Access Information for Readers:
DC Water – Lead-Free DC Program:
https://www.dcwater.com/resources/lead
This page provides detailed information about the Lead-Free DC initiative, including how to apply for pipe replacements and available assistance programs.
DC Water – Lead Pipe Replacement Assistance Program (LPRAP):
This page offers insights into the Lead Pipe Replacement Assistance Program, focusing on how low-income property owners can receive help in replacing lead pipes.
EPA – Lead in Drinking Water:
https://www.epa.gov/ground-water-and-drinking-water/basic-information-about-lead-drinking-water
This URL covers essential information on the risks of lead in drinking water and federal programs available to help property owners.
Scott Bloom is owner and Senior Property Manager of Columbia Property Management. For more information and resources, go to ColumbiaPM.com.
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